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Automatic Transfer Authorization Agreement the Clay City Form

Automatic Transfer Authorization Agreement the Clay City Form

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- I am a co-owner of a C-Corp. The C-Corp owns real estate. Let's just stop and have a moment. All right. Which is the C-Corp's primary place of business since 2003. They grouped them, but instead of having them separate they decided to put it in the same business. All right. We would like to get the real estate out of the C-Corp and into an LLC. Is this feasible? What steps need to be taken to minimize tax consequences? Jeff, what are the tax consequences? - Well, my suggestion is you sleep in the bed you made, because the tax consequences are you have to recognize the gain on the fair market value of the property in order to get it out of the corporation. You could always put it in an LLC inside the corporation but the pull it out could have very large tax consequences. - All right. And this is for David, three. Three issues here, right? A, are we liquidating that C-Corp? If we're liquidating it, in the your portion of the real estate is not greater than your

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