A
avalon
Guest
I currently hold 50% stock in a construction company. losses have been very significant and we were considering closing the doors - BUT... A big builder has approached us and has hinted at buying us (for the losses no doubt) they want us to be a C corp. The company was formed in Feb of 98 and the stock has changed hands a few times. Can we still elect to be a C corp? One more thing, is it kosher with the IRS to buy a company for its potential tax advantages?