A large amount of natural gas and oil sits beneath the oceans, and as we surpass peak oil, their skills and new technologies are essential. Oil and gas extraction employs some 22% of marine geologists. Some 17% of Earth scientists work in engineering services. For marine geology, this will often be in the siting and design of offshore oil and gas rigs.
Would I request the 645 election? How do I know if it is a qualified revocable trust? If you become successor trustee prior to the death of the grantor (due to incapacitation or disability), then you will not need to obtain an EIN (employer identification number) for the revocable living trust.
The two-year limitation for trusts being S corporation shareholders can also be avoided if the trust qualifies as an Electing Small Business Trust, commonly referred to as an ESBT. Like a QSST, the election must be made in writing and within two months and 15 days of the trust becoming a shareholder.