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Mai, has a successful business through a C corp. Mai holds 100% of the C Corp. Mai wants to retire and wishes her two daughters

Mai, has a successful business through a C corp. Mai holds 100% of the C Corp. Mai wants to retire and wishes her two daughters can take over the business. You are tax advisor to Mai. What advice would you give to Mai? Can Mai sell the business to her daughter? Is it capital gain or dividend? What would Mai prefer, dividend or Capital gain? Please write a brief memo for your client Ms. Mai.

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