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New Five Year Rule Provides Built-In Gains Relief to S Corporations

By Steven M. Saraisky on January 25, 2011
Posted in Income Tax, Legislation

From 1986 until very recently, a C corporation that converted to an S corporation faced potential double taxation on built-in gain assets (“BIG assets”) for a 10 year period following its S election. The full benefit of electing S corporation status and pass-through taxation was only available after the 10 year period.

In 2009, legislation…

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