### Question
How is the "S period" defined?


### Answer
The term **S period** is defined in *26 U.S.C. § 1368* as follows -

> the most recent continuous period during which the corporation has been an S corporation

#### Citation:
  - *26 U.S.C. § 1368*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter S-Tax Treatment of S Corporations and Their Shareholders > PART II-TAX TREATMENT OF SHAREHOLDERS**

