Larry Brant will be revisiting choice of entity in light of tax changes on the horizon at the NYU School of Professional Studies Advanced Subchapter S Conference.
The TCJA 2017 reduced the corporate income tax rate to a flat 21%, causing a significant number of S corporations to convert to C corporations. With tax hikes looming on the horizon and significant changes to the Code, these same corporations, however, may soon find themselves desiring to regain S status. Likewise, depending upon the provisions of the soon to be enacted tax legislation, some S corporations may desire to obtain C corporation status.
In this program co-presented with Stephen Looney of Dean Mead (Orlando, FL), the speakers will explore the potholes and obstacles that may hinder travel on this two-way road, including the built-in-gains tax, LIFO recapture, excessive passive income, unreasonable compensation, personal holding company status, excessive accumulated earnings, and re-election time restrictions.
For more information and to register, visit NYU's Advanced Subchapter S website.