shall not be treated as a corporation, body corporate, body politic, joint-stock company, or limited liability company, as applicable, for the purposes of Federal law during the period beginning on the date on which the entity is required to obtain a charter under that paragraph and ending on the date on which the entity obtains the charter. (b) Rescissions (1) In general An entity that has obtained a charter as a United States corporation and, with respect to a subsequent taxable year of the entity, is not a large entity may file a petition with the Office to rescind the charter of the United States corporation. (2) Determination Not later than 180 days after the date on which the Office receives a petition that an entity files under paragraph (1), the Office shall grant the petition if the Office determines that the entity, with respect to the most recently completed taxable year of the entity preceding the date on which the petition was filed, was not a large entity. 5. Responsibilities of United States corporations (a) Definitions In this section: (1) General public benefit The term general public benefit means a material positive impact on society resulting from the business and operations of a United States corporation, when taken as a whole. (2) Subsidiary The term subsidiary means, with respect to a person, an entity in which the person owns beneficially or of record not less than 50 percent of the outstanding equity interests of the entity, calculated as if all outstanding rights to acquire equity interests in the entity had been exercised. (b) Charter requirements (1) In general The charter of a large entity that is filed with the Office shall state that the entity is a United States corporation. (2) Corporate purposes A United States corporation shall have the purpose of creating a general public benefit, which shall be— (A) identified in the charter of the United States corporation