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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Canada Tax
Satisfied Customers: 34
Experience:  Tax preparer with 23 years experience, including US/Canada tax returns.
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What kind of deduction corporation can apply when it comes

Customer Question

what kind of deduction corporation can apply when it comes with capital gain tax after corporation sold its property?
Submitted: 2 years ago.
Category: Canada Tax
Expert:  Lane replied 2 years ago.
Hi, is this a C-Corp or ans S- Corp?If a C-Corp, there s no special (lower) capital gains rate, it's all income at the corporate rate.If an S-Corp (or any other tax pass-through (such as a partnership or LLC not electing to be taxed as a corporation), the this will pass through to your personal return and if held formore than one years,will get the lower Long-Term capital gains rate Let me know ,,, Lane