Liquadating c corporation sex dating in abo new mexico
In that case the gain is income to the other shareholders as well, based on share ownership.
Of course, if the corporation should the asset and distributed the cash to the shareholder, the result would be the same.
This can get messier if there's more than one shareholder.
Then, when the business owner withdraws the income, the owner is taxed on the income a second time as a dividend.
Under current law, the top rate on corporate income is 35%; meanwhile, the top rate on dividend income is 23.8%.
There is another important consideration: how to relocate your formal business entity.
Sole proprietorships and partnerships simply move and register to do business by filing a DBA in the new location.
As you might imagine, this can lead to painful consequences when doing business as a C corporation. As advisors, we keep an army of axioms always at the ready to be used in response to client queries.