Final answer:
False. S corporations are not generally required to use a calendar year-end.
Step-by-step explanation:
The statement true: S corporations are generally required to use a calendar year-end is false.
An S corporation is a type of business entity that elects to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. While most S corporations do use a calendar year-end as their fiscal year, it is not a requirement. S corporations have the flexibility to choose a fiscal year-end that aligns with their business operations.
For example, if an S corporation conducts its business on a fiscal year basis that does not coincide with the calendar year, it can adopt a fiscal year-end that ends on any other date within the year, such as June 30th or September 30th.