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Level 2
posted Jan 1, 2024 4:52:03 PM

Can a business rent a vehicle and or equipment from another s corp owned by same owners?

Can a business rent a vehicle and or equipment from another s corp owned by same owners?

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1 Replies
Level 15
Jan 1, 2024 5:54:24 PM

Yes; the S corporation is a separate and distinct entity for that purpose.

 

The owners of the vehicle (or any other property) could also rent it directly to the corporation.