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After an S corporation elects to revoke its status as an S corporation, it must: never reapply for S corporation status again. always wait five
After an S corporation elects to revoke its status as an S corporation, it must:
never reapply for S corporation status again.
always wait five years before making a new election.
wait until at least of stock is owned by new shareholders.
wait five years, but can apply to the IRS for an earlier reelection.
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