Effect on taxable year of corpora- tion. In the case of a corporation that fails to meet the definition of a small business corporation on the first day of the first taxable year for which its election to be an S corporation is to be effective, any statement made with the election regarding a change in the cor- poration’s taxable year has no effect.
Appears in 7 contracts
Samples: www.govinfo.gov, www.govinfo.gov, www.govinfo.gov
Effect on taxable year of corpora- tion. In the case of a corporation that fails revokes its election to meet the definition of a small business corporation be an S corpora- tion effective on the first day of the first taxable year for which its election to be an S corporation is to be effective, any statement made with the election regarding a change in the cor- porationcorporation’s taxable year has no effect.
Appears in 7 contracts
Samples: www.govinfo.gov, www.govinfo.gov, www.govinfo.gov