Collins Partnership has a December 31 tax year, which is the tax year of its partners. Collins Partnership is not a member of a tiered structure nor has it previously made a Sec. 444 election. If Collins makes a Sec. 444 election, which of the following could the partnership elect as a tax year?
A. September 30.
B. March 31.
C. June 30.
D. December 31.
Ans: D. December 31.
Business
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