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John and Bob transfer assets to a new corporation. It will be tax free if: They get cash for property It is only tax free
John and Bob transfer assets to a new corporation. It will be tax free if:
They get cash for property | ||
It is only tax free if they transfer services to the corporation. It is taxable if they transfer assets | ||
They get stock for property and control of the corporation | ||
They get at least 60% of the stock of the corporation |
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