Corporation Tax

[paula1]

Hi,

Does anyone know how much the corporation tax will be this year. I understand that the tax will be increased every year. We are thinking about liquidating the company that holds our vehicle. Just trying to look at the costs of liquidation and change of ownership versus the ongoing cost of the tax.

Thanks

[DavidCMurray]

In the near term, it will be less expensive to dissolve your corporation than to continue paying the annual corporation tax. It might take two years to break even, but the math is on the side of avoiding the tax.

If your attorney’s charging an arm and a leg, check someone else.

[Author]

Posts