convert C Corp to LLC - tax issues?
by BillJ1234, Window Shopper
- Created: July 9, 2009, 11:13 am
Our attorney has suggested we change our C Corp. to an LLC. I am concerned that this will be a taxable change for the owner. Sole shareholder to single member LLC. (No losses involved)
Will this be deemed a liquidation and make the owner subject to tax of the fair market value of assets less his stock basis?
Is there an exception if the LLC uses Corp. tax option to file?
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