Summary- The provisions contained in IRC Sec 357 need to be thoroughly examined so that the non-taxable status of your transfer of liabilities to your controlled Company manufactured beneath Sec 351 will not be jeopardized. According to Sec 351, a transfer of home to a company in exchange for shares is not going to bring about the recognition of any gain or decline offered which the recipient of your stocks will immediately attain control of the Company.

Roland and bbrown - I stand corrected, nonetheless- will not likely the acquire be a similar and is not going to The brand new CPA require the per asset/for each note payable data? Sorry for that confusion and happy you and Jon are providing reviews on this thread. Remark

In concept, I'd just figure all liabilities in excessive of all belongings and You can find the get. On the other hand, are accounts receivable and accounts payable taken care of in another way?

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