Which of these corporations is potentially eligible to make an S corporation election? Corporation I is a domestic corporation. There is only one class of stock with 95 shareholders who are all individuals living in the United States. Corporation II is a domestic corporation using a calendar-year tax year. 85% of the shareholders agree to the S corporation election. O Corporation III 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 partnershipX O Corporation IV is a domestic corporation with two classes of stock. The three shareholders are all U.S. citizens