Pennsylvania Statutes Title 72 P.S. Taxation and Fiscal Affairs § 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.


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