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Article Date:
November 2013


Word Count:
984

 

 

S Corporation Tax on Built-In Gains Is Trouble


Do you operate your business as a C corporation?

 

Would you like to operate that corporation as an S corporation so that you can avoid double taxation?

 

If so, you need to consider the built-in gains tax. The built-in gains tax scares away many C corporation owners who want to convert their business to an S corporation.

 

Should the built-in gains tax scare you? Will it apply?

The answer depends on the book and fair market values of the assets in your C corporation. For some businesses, the built-in gains tax will be a big problem.

 

How the Built-In Gains Tax Operates

 

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