Life Cycle of a Corporation

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With this 143-page tax guide, you will:

• Recall the requirements for electing and maintaining S corporation status
• Identify the tax consequences when an S corporation pays back cash that has been contributed
• Determine the basis of appreciated property transferred to a corporation under IRC §351
• Choose the appropriate calculation for making IRC §7519 payments
• Recall when a C corporation is subject to the personal holding company tax
• Select which C corporations are subject to the accumulated earnings tax
• Recall how the IRS treats dividend payments from a C corporation in light of the issue of reasonable compensation
• Determine when the sting tax applies
• Recall when to deduct state taxes under federal income tax laws
• Identify the circumstances under which a shareholder is liable for corporate taxes upon the corporation’s liquidation or merger
• Recall the Secretary of State’s restrictions on choosing a corporate name
• Select the appropriate franchise tax rate for nonfinancial corporations
• Identify how preclearance affects the filing of business entity documents for a California domestic stock corporation
• Determine when a corporation is considered legally dissolved
• Recall when a dissolving California corporation is not subject to the minimum tax

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