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By filling out the correct paperwork annually, any corporation can qualify to be classified as an S corporation.

a) True
b) False

User Topkara
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1 Answer

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Final answer:

Any corporation can qualify to be classified as an S corporation by filling out the correct paperwork annually.

Step-by-step explanation:

By filling out the correct paperwork annually, any corporation can qualify to be classified as an S corporation. This statement is true. An S corporation is a corporation that has elected a special tax status with the IRS to avoid double taxation. To qualify, the corporation must meet certain requirements, including having no more than 100 shareholders and being a domestic corporation.

User EDUsta
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