Taxation
Ca. Tax Lawyer March 2021, Volume 30, Number 1
Content
- 2020 Annual Meeting of the California Tax Bar & California Tax Policy Conference Report
- Bringing Back the Buffer: a Proposal to Amend Crtc Section 18604(a) to Provide a Seven-Month Filing Extension to Corporate Taxpayers
- Contents
- Masthead
- Message from the Chair
- Modification of California Unemployment Insurance Code Section 1755(a) to Provide a Minimum Holding Period for Surrender of Property Subject to Levy from Financial Institutions
- Tax Bar Business
- Tax Treatment of Undocumented Immigrants in California
- Taxation Section 2020-2021 Leadership Directory
- Visiting the Committees
- Request for Guidance Regarding Making Proper S Corporation Consents of Form 2553, Election by a Small Business Corporation
Request for Guidance Regarding Making Proper S Corporation Consents of Form 2553, Election by a Small Business Corporation
(Clarifying Who and How to Sign the Form 2553 "Consent Statement" for Grantor Trust Shareholders and Community Interest Spouse Shareholders)1
By John C. Miles and Eric D. Swenson2
EXECUTIVE SUMMARY
Corporations which qualify as "Small Business Corporations" pursuant to Internal Revenue Code ("IRC")3 Section 1361(b) may elect to be treated as an "S Corporation" if certain requirements are met. The election to be treated as an S Corporation (the "S Election") is made on Form 2553, Election by a Small Business Corporation ("Form 2553").4