Legal Question in Business Law in New York
business law
My current C Corporation runs on a fiscal year May through April (I incorporated on May 2007). Would it be ok, if I filed a short year tax return for 2007 (April through December) and requested an S status for 2008 by March 15? (I would switch to calendar year basis afterwards) Or should I wait till the end of my fiscal year and then then apply for S?
Thanks.
1 Answer from Attorneys
Re: business law
This is actually a question you should be asking your accountant or tax attorney. Tax ramifications can be tricky things, and you need the advice of someone who knows your individual tax situation inside out.
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