With the TCJA reducing the corporate income tax rate to a flat 21%, a significant number of S corporations will likely be converting to C corporations. These same corporations, however, may find themselves down the road desiring to regain S status. In this presentation, Larry Brant explores 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.
Multnomah Athletic Club
1849 SW Salmon Street
For more information, visit the OSCPA website.
- "Evaluating the Built-in Gains Tax for C to S Conversions After TCJA," New York University Tax Conferences in July – Advanced Conference on Subchapter S
- "Navigating the Built In Gains Tax for C to S Conversions After the Tax Cuts and Jobs Act," Oregon Society of Certified Public Accountants (OSCPA) 2018 Northwest Federal Tax Conference
- "Subchapter S After the Tax Cuts and Jobs Act – the Good, the Bad and the Ugly," New York University 77th Institute on Federal Taxation