Level Usa
May 9th, 2010
No comments
Level Usa
Are S Corps ever taxed at the corporate level in the USA?
Even if they had a Very Large profit.
Someone who has an S Corp is trying to Tell me the S Corp did indeed Pay some corporate income taxes at the rate of 35% on some of the income.
Am I being lied to?
The S Corp in question was Never a C Corp.
If the S-Corp Used to be a C-Corp you may have "Built in Gains" tax. Doesn't seem to be the Case here so I think Your Chain has been yanked.
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