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Conversion of S Corporation to LLC

Conversion of S Corporation to LLC

When converting and S. Corporation to an LLC. There are many issues to consider since corporations when liquidated, may result in taxes at the corporate level. Many factors and issues are applicable, such as whether assets are contributed to the LLC, the existing basis of the shareholder, and whether S. Corporation assets are subject to build in gains tax.

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Conversion of S Corporation to LLC

Conversion of an S corporation to an LLC is an important decision in your business and has many considerations. Ask a Tax Expert if you have questions on whether to convert your S corporation.