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Question 68 of 75. Each of these events will lead to automatic termination of the S corporation election EXCEPT: The corporation ceases to be a

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Question 68 of 75. Each of these events will lead to automatic termination of the S corporation election EXCEPT: The corporation ceases to be a small business corporation as defined by the IRS. The corporation has accumulated earnings and profits and has excess net passive income. All of the shareholders agree to convert the corporation to a C corporation. The election is revoked

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