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Which of these corporations appears to be eligible to make an S corporation election? Fairway Corporation is a domestic corporation with one class of
Which of these corporations appears to be eligible to make an S corporation election? Fairway Corporation is a domestic corporation with one class of stock. There are three shareholders: two are individuals who are residents of the United States. The third shareholder is a partnership. Hearthstone Corporation is a domestic corporation. There is only one class of stock with 75 shareholders who are all individuals living in the United States. Heritage Corporation is not a domestic corporation, but all shareholders are United States citizens. There is one class of stock. Millview Corporation is a domestic corporation using a calendar-year tax year. Ninety percent of the shareholders agree to the S corporation election. Mark for follow up
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