Since this is a C-Corp, as opposed to an S-Corp, you may want to seek the advice of a tax pro in your local area. Laws governing C-Corps differ state to state, and the last thing you need is for something to come back and bite you 3-5 years down the road. All the fines and penalties can quite easily wipe out any gains you may incur on the sale of the business. Also, fines and penalties for a C-Corp are extremely high, and you don't want to find out just how high, the hard way. It makes the cost of a tax pro seem like a pittance in comparison.
