irrevocable trust

[damut]

What is the name of your state? OHIO

We are interested in selling our c corporation.

For income tax reasons, we would prefer to realize the income from selling the business over a five year period rather than just in the year of the sale. Is it possible to sell a c corporation using an irrevocable trust so that the money may be set aside thereby guaranteeing that it will be distributed over the five year period?

Thanks.

Damut

 

[Dandy Don]

This question would be be best answered by a business law attorney or a CPA/tax accountant.