tax on sale of assets of a corp.

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Submitted by Anonymous on Fri, 2009-12-18 14:38.

General Discussion

how should we handle the income and dissolution of the corp.
there are three stockholders of equal shares

how much tax liability will there be for each of us

our treasurer made an election from c corp to s corp
at our last year end before the sale and claims the distributions will be repoted on k-1 and taxed at capital gains rates

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IRS Circular 230 Disclaimer: Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice in this communication, including any attachments or enclosures, was not intended or written to be used, and it cannot be used, by any person or entity for the purpose of avoiding penalties imposed under the Internal Revenue Code.

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tax on sale of assets of a corp.

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