Janice's Juices, LLC is a single-member LLC that was created and began business on January 1, 2022. Due to anoversight, no S election (or other entity classification election) was made by the regular deadline to make anelection for 2022. Assuming the business otherwise qualifies to request late S corporation election relief, it mustfile Form 2553 by which date?

Janice's Juices, LLC, a single-member Limited Liability Company (LLC), commenced its business…

Answered: Janice's Juices, LLC is a single-member…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

A limited partner is responsible for any debts of the partnership, regardless of whether he or she was directly involved in the transaction that created the debt.;True or False
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Able does not ever want Baker's shares to be transferred to Baker's brother, who has been convicted of criminal fraud and embezzlement on several occasions and who is currently serving time in a federal prison for one of those convictions. Which of the following types of restrictions on the transfer of Baker's shares might Able insist to accomplish this, even if Carter and Dennis don't share Able's concerns? Multiple Choice A put agreement Option agreement Provision disqualifying purchasers Buy-and-sell agreement Right of first refusal
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Fill in the Blank (Select Correct Answer) The purchase of shares of stock in a corporation make that person an(officer, shareholder, director) of that corporation. Typcially, shareholders have (responsibility, no responsibility) for the daily management of the corporation. Shareholders are (not entitled, entitled) to participate in a shareholders meeting, which typically must occur at least (weekly, annually, monthly). The date upon which stock owernship is recorded for voting rights purposes is known as a (voting date, record date, rights date). Any date can be selected as long as it is no more than (fifty, seventy, twenty) days before the shareholder meeting. Brenda purchased Mike's shares on (July 1, July 15, June 1), which is fifteen days (before, after) the record date. On the record date, (Brenda, Mike) owned the shares. Therefore, Brenda (does have voting rights, does not have voting rights) and Mike (does not have voting rights, does have voting rights) from the 100 shares of…
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