Bill owns 50 of the outstanding shares of stock of s, Ask an Expert

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Bill owns 50% of the outstanding shares of stock of S corporation.

a. Bill may revoke the corporation's S status.

b. Bill may not revoke the S status of the corporation.

c. Bill may sell all of his shares to a third party thus causing the deemed dissolution of the S corporation and the deemed creation of a successor C corporation.

d. Bill may sell all or any of his shares to Igor, a citizen of Transylvania residing in Stateboro,GA, thus causing the corporation to lose its S status.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940486

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