CORPtax2 Flashcards
1
Q
When C corp chooses S corp status, what happens to existing property?
A
If sold, taxes at rate of 35% on built-in gain of property.
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When C corp chooses S corp status, what happens to existing property?
If sold, taxes at rate of 35% on built-in gain of property.
Key Links
Subjects
Company
Find Us
