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Submitted 368 days ago...

eshkana

New User (1)

Tax rate on sale small business corporation

I am trying to calculate the tax i would owe by selling a small business (a C corporation). The 70% of the price is for the vehicles in the inventory and 30% is the goodwill and other fixtures. The nature of the business is car rental in California. I file taxes as maried and jointly.
thank you

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Submitted 24 days ago...

wewillc

Beginner (27)

Eshkana- do you have cpa or accountant that helps w/ your books or taxes? I sold my business and prior to the sale asked him- What do you think my tax exposure will be on the sale. I structured the sale around that info as to how I was to recieve pmt to minimize tax consequences. regards

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Tax rate on sale small business corporation

I am trying to calculate the tax i would owe by selling a small business (a C corporation). The 70% of the price is for the vehicles in the inventory and 30% is the goodwill and other fixtures. The nature of the business is car rental in California. I file taxes as maried and jointly. thank you

I am trying to calculate the tax i would owe by selling a small business (a C corporation). The 70% of the price is for the vehicles in the inventory and 30% is the goodwill and other fixtures. The nature of the business is car rental in California. I file taxes as maried and jointly.
thank you