The document provides information about electing S corporation status for Cane, Inc. It discusses: - Cane, Inc. has been a C corporation with less than $100,000 annual income, but expects losses in the next few years due to imports - Electing S corporation status could allow deducting anticipated losses and provide tax benefits - Requirements for S corporation eligibility include being a domestic corporation with one class of stock and 100 or fewer shareholders - Cane, Inc. could elect S status if it has identical voting and non-voting stock and shareholders consent before the deadline