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QSBCQualified Small Business Corporation (Canada)
QSBCQuail Springs Baptist Church (Oklahoma City, OK)
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You can also "crystallize" the capital gains exemption in certain situations so you don't have to keep checking whether your company meets the qualified small business corporation requirements.
In addition, you may benefit from a special election for qualified small business corporations that go public to take advantage of the exemption without having to actually sell shares.
And if the vendor is an individual, he or she may be eligible for the $500,000 lifetime capital gains exemption on qualified small business corporation shares.
S status is terminated by the public offering; the entity ceases to be a qualified small business corporation.
A qualified small business corporation does not meet the active business requirement if more than 10% of its total assets in excess of its liabilities consists of stock or securities in other corporations that are not its subsidiaries.
Eligible stock must have been issued originally for money or property after August 10, 1993, by a qualified small business corporation.
Increase lifetime capital gains exemption to $800,000 (tip from $750,000) on qualified small business corporation shares/farms/fishing property for the 2014 year and indexed for inflation subsequently.
A so-called qualified small business corporation generally is a C corporation engaged in an active trade or business with less than $50 million of aggregate capitalization at all times from January 1, 1993, through the date the taxpayer acquires the stock.
Since an ineligible trust held shares of the corporation's stock when the S election was filed, the corporation was not a qualified small business corporation on the date of filing and on each day of the year before the filing date.
Furthermore, only C corporations can be qualified small business corporations (Sec.
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