Porpoise, Co. is organized in Florida as a corporation. Porpoise, Co. has only one member. All members of Porpoise have limited liability. Is Porpoise, Co. eligible to check the box? If so, what is its default status if there is no election under the check-the-box rules?
Blue entity means foreign.
White entity means domestic (U.S.).
The code for this web page is significantly based on code created by Professor Sarah Lawsky on her practice problems page. The code for this web page can be found on my Github page.