The election is effective for Federal and most state income tax purposes. If an entity is not classified as a corporation, it is treated as a partnership for U.S. tax purposes if it has more than one owner, or is a disregarded entity if it has a single owner (i.e. is treated as part of the single owner).
Gelatin rhymes with skeleton. Like the stuff they use in Jello :)Another word that rhymes with skeleton is peloton.
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