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Tax law question Can shares of an S corp be sold to a C

Tax law question Can shares of...
Tax law question

Can shares of an S corp be sold to a C corp?
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Answered in 4 minutes by:
9/12/2013
Thomas McJD
Thomas McJD, Attorney
Category: Business Law
Satisfied Customers: 6,516
Experience: Experienced in Corps, LLCs, Partnership, etc.
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TMcJD :

Hi, I will be happy to assist you, and it is my goal to make you a very satisfied customer! This may take a few minutes, so thanks for your patience.

Customer: No problem
TMcJD :

An S corporation must be owned by an individual and certain trusts. Thus, a C corporation cannot own an S corporation. If it bought the S corporation, the S corporation status would be lost and the corporation would then be treated as a regular C corporation.

TMcJD :

http://www.law.cornell.edu/uscode/text/26/1361

Customer: Thanks that is what I needed, not what I wanted to hear, but what I needed to know
TMcJD :

You're welcome. I would be grateful if you could please leave me a positive rating or providing the information that you needed. Thanks and have a great day!

Customer: Will do
TMcJD :

Thanks!

Thomas McJD
Thomas McJD, Attorney
Category: Business Law
Satisfied Customers: 6,516
Experience: Experienced in Corps, LLCs, Partnership, etc.
Verified
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