Rev. Rul. 58-516

The term `calendar month' as used in section 18.1-1(b) of the Income Tax Regulations, Treasury Decision 6317, approved September 22, 1958, relating to the election of certain small business corporations under subchapter S of the Internal Revenue Code of 1954, as added by section 64 of the Technical Amendments Act of 1958, means, in the case of a new corporation whose taxable year begins after the first day of a particular month, for purposes of making the election under section 1372 of the Code by such corporation, the period beginning on such first day of the taxable year and ending on the corresponding day of the succeeding month, or in case there is no such corresponding day, the last day of the succeeding month.