The S corporation status can be revoked only if the shareholders who collectively own more than what percentage of the outstanding shares in the S corporation's stock consent to its revocation?
A. 50%
B. 66 2/3%
C. 75%
D. 80%
Answer: A. 50%
The S corporation status can be revoked only if the shareholders who collectively own more than what percentage of the outstanding shares in the S corporation's stock consent to its revocation?
A. 50%
B. 66 2/3%
C. 75%
D. 80%
Answer: A. 50%