Liquidating distribution cash proceeds taxed


25-Aug-2017 16:14

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He uses the cash to start a sole trade in the same line of business.Former contractor Jon owns a family property investment company.Corporate shareholders may prefer that the distribution be treated as a dividend, allowing the corporation to take advantage of the special dividends-received deduction under Code § 243 (which allows the dividends to only be taxed once at the corporate level).

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Dissolution is an “administrative” termination of the corporation and while it is a usual first step, it doesn’t necessarily mean the corporation is folding.The rate of tax may be as low as 10% (if Entrepreneurs’ Relief is available) and will be a maximum of 28%.