Flag question Ralph formed Sunset, Inc. as a calendar year C corporation with his grandmother,...
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Flag question Ralph formed Sunset, Inc. as a calendar year C corporation with his grandmother, another C corporation (Hazel, Inc.), and himself as the only three shareholders. On January 15, 2023, Hazel, Inc. sold all its shares to Barbara. On April 28, 2023, Sunset, Inc. filed an S corporation election. Ralph, his grandmother, and Barbara all consented to the election. What is the earliest effective date of the S election? (You may assume that all individuals are qualifying individuals). Select one: O A. January 1, 2023 OB. April 28, 2023 OC. January 1, 2025 O D. January 1, 2024
Ralph formed Sunset, Inc. as a calendar year C corporation with his grandmother, another C corporation (Hazel, Inc.), and himself as the only three shareholders. On January 15, 2023, Hazel, Inc. sold all its shares to Barbara. On April 28, 2023, Sunset, Inc. filed an S corporation election. Ralph, his grandmother, and Barbara all conisented to the election. What is the earliest effective date of the S election? (You may assume that all individuals are qualifying individuals) Select one: A. January 1,2023 B. April 28,2023 C. January 1,2025 D. January 1,2024
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