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@TaxMonkey wrote:

Yes, revoking an S election would make a business a C corp.

Filing a partnership election would not change your requirement to liquidate the corporation, with the associated tax consequences.  The IRS would still be looking for a final corp tax return.  The may be circumstances were liquidating a C corp is preferable to liquidating an S corp, but I can't think of any off the top of my head.

 

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Thanks.  So it's not the S > C that creates the liquidation problem, it's the S > Partnership or the C > Partnership, right?