§ 7307. Election by small corporation
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 7, 2006
Effective: July 7, 2006
72 P.S. § 7307
§ 7307. Election by small corporation
Any small corporation may elect not to be taxed as a Pennsylvania S corporation. Such election requires the consent of one hundred per cent of the outstanding shares of the small corporation on the day on which the election is made. A qualified Subchapter S subsidiary owned by a Pennsylvania S corporation shall be treated as a Pennsylvania S corporation whether or not an election has been made with respect to such subsidiary.
Credits
1971, March 4, P.L. 6, No. 2, art. III, § 307, added 1983, Dec. 23, P.L. 370, No. 90, § 4, effective Jan. 1, 1984. Amended 1997, May 7, P.L. 85, No. 7, § 8, imd. effective; 2006, July 6, P.L. 319, No. 67, § 4, imd. effective.
72 P.S. § 7307, PA ST 72 P.S. § 7307
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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