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Business & farm
First, I am NOT an expert about this. But here are my thoughts:
For your first paragraph, I don't think so. If it was an S-corporation, the sale would not be subject to NIIT, but I don't THINK that applies to C-corporations. Here is an third-party article that confirms my thinking:
"In contrast to partnerships, limited liability companies (LLCs), and S corporations, the NII tax applies to income from a C corporation regardless of whether the corporation's business is active or passive with respect to any shareholder."
<a rel="nofollow" target="_blank" href="http://www.dm-t.com/userfiles/Tax%20Saving%20Opportunities.pdf#page=4">http://www.dm-t.com/userfiles...>
For your first paragraph, I don't think so. If it was an S-corporation, the sale would not be subject to NIIT, but I don't THINK that applies to C-corporations. Here is an third-party article that confirms my thinking:
"In contrast to partnerships, limited liability companies (LLCs), and S corporations, the NII tax applies to income from a C corporation regardless of whether the corporation's business is active or passive with respect to any shareholder."
<a rel="nofollow" target="_blank" href="http://www.dm-t.com/userfiles/Tax%20Saving%20Opportunities.pdf#page=4">http://www.dm-t.com/userfiles...>
May 31, 2019
5:01 PM