6. Sophia has been a calendar year taxpayer since birth. She established a successful coffee chain, which she incorporated as a C corporation in February of 201X.

a. What taxable year may the corporation elect? Why?

b. If there is more than one possible taxable year available, which one might be the most advantageous tax-wise to the chain? Why?

c. Would your answer change if the corporation made an S corporation election? Would you need more information?