July 27, 2018

CNBC spoke with Melville Office Managing Partner Carolyn Mazzenga, also national leader of the Family Wealth Services group, about the long-range tax implications of converting a pass-through entity to a C-corporation.

CNBC

By Darla Mercado

Featured Carolyn Mazzenga, Office Managing Partner, Melville

Related Services Tax & Business, Corporate Tax, Family Wealth Services, Tax Return Compliance

CNBC spoke with Melville Office Managing Partner Carolyn Mazzenga, also national leader of the Family Wealth Services group, about the long-range tax implications of converting a pass-through entity to a C-corporation. Tax & Business

Excerpt:

“Selling a C-corp can become very tax-expensive,” said Mazzenga at Marcum. This is because owners face a double tax once they sell the assets of the company: First, they pay the corporate rate of 21 percent, and then owners cough up a 20 percent tax for distributions they receive.

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Carolyn  Mazzenga

Carolyn Mazzenga

Office Managing Partner

  • Tax & Business
  • Melville, NY