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8- Suppose Molly formed a C corporation, Maple Corp. in 2019 with a calendar tax year and made an S election on March 10, 2019

8-

Suppose Molly formed a C corporation, Maple Corp. in 2019 with a calendar tax year and made an S election on March 10, 2019 with the consent of Maple Corp.s shareholders: Molly, Wendy, and Jesse (all unrelated individuals). When is the S election effective?

Multiple Choice

  • Never.

  • January 1, 2020

  • March 10, 2020

  • March 10, 2019

  • January 1, 2019

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