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Tax consequences of liquidating a corporation

The final corporate tax return is due no later than the 15th of the third full month after the dissolution, which is also the due date for any corporate income tax due.

In the ruling, a partnership required access to “new capital and equity” for the purpose of making acquisitions in its expansion efforts.

If you want to liquidate a C corporation and form an LLC, you should be aware that in most cases, the tax consequences will be negative.

The corporation must recognize a gain on any appreciated property.

Accordingly, a corporation was formed based on a “plan of conversion” that transformed a partnership to a corporation.