For each of the following independent cases below, indicate whether the entity will be taxed as an S corporation or a C corporation for the respective period.
a. Richards Corporation, uses the calendar year as its tax year. It files an S election on March 31, 2016. If no reasonable cause is shown, how will Richards Corporation be treated for tax purposes in 2016?
b. Shareholders owning more than 50% of the stock of Harper Corporation, a qualifying calendar-year S corporation, consent to a voluntary revocation statement filed by the corporation on March 12, 2016. How will Harper Corporation be treated for tax purposes in 2016?
c. Shareholders owning more than 50% of the stock of Hazelwood Corporation, a qualifying calendar-year S corporation, consent to a voluntary revocation statement filed by the corporation on March 12, 2016. The prospective termination date is July 1, 2016. How will Hazelwood Corporation be treated for tax purposes in 2016?
d. One of the shareholders of Omni Corporation, a calendar-year S corporation, sells his stock to a Canadian individual on July 8, 2016.
Independent assortment of chromosomes at meiosis explains Mendel’s ratio
Independent Assortment
Meiosis Accounts for Independent Assortment of Alleles p1
The Punnett square of a dihybrid cross demonstrates Mendel’s law of independent assortment.
Independent assortment of alleles of two genes
Light-independent reactions in C4 plants