The Subchapter S status of a calendar year corporation is statutorily terminated on August 12, 2016. The

Question:

The Subchapter S status of a calendar year is statutorily terminated on August 12, 2016. The Subchapter S status is deemed to be terminated on what date? What is the answer if the status were voluntarily revoked on that date?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...