Bilbeaux Corporation is a calendar year corporation that starts business on January 1, 20X1. Bibeaux files an election to be treated as a S corporation on April 2, 20X2, when it files its tax return for 20X1. Bilbeaux will be treated as an S corporation for 20X1. True or False?
Bilbeaux Corporation is a calendar year corporation that starts business on January 1, 20X1. Bibeaux files an election to be treated as a S corporation on April 2, 20X2, when it files its tax return for 20X1. Bilbeaux will be treated as an S corporation for 20X1. True or False?
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 2DQ
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Bilbeaux Corporation is a calendar year corporation that starts business on January 1, 20X1. Bibeaux files an election to be treated as a S corporation on April 2, 20X2, when it files its tax return for 20X1. Bilbeaux will be treated as an S corporation for 20X1.
True or False?
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