Posted by JHyre in Ohio on February 10, 2002 at 08:16:45:
The election makes you a C-corp for all federal tax purposes and for most state tax purposes as well, so no pass through. Once you elect C-corp status, number of members is irrelevant for federal purposes. A C-corp (or any other entity) does not necessarily make dealer issues go away…it merely helps keep the taint confined to the properties in that entity. See my dealer article for more on that topic.