Section 307.4. Termination by Corporation Ceasing to be a Small Corporation.--(a) If a corporation ceases to be a small corporation, as defined in section 301(s.2), the corporation's status as a Pennsylvania S corporation shall terminate.
(b) Such termination shall be effective on the date on which the corporation ceases to be a small corporation, as defined in section 301(s.2).
(307.4 amended July 6, 2006, P.L.319, No.67)