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sxabdalla
Level 3
April 22, 2023

C Corp Conversion to LLC

  • April 22, 2023
  • 3 replies
  • 9 views

I have an C Corp with significant NOL. I am debating converting it to an LLC. Will I lose the NOL if convert the entity to LLC?

This topic has been closed for replies.

3 replies

T
TaxGuyBill
Level 15
April 23, 2023

What software are you using?

What exactly do you mean by 'convert to LLC', and why are you wanting to do that?

    sjrcpa
    sjrcpa
    Level 15
    April 25, 2023

    State law conversion?

    Or corporate liquidation coupled with formation of an LLC?

    Will the ownership be the same?

    How will the LLC be taxed?

    The more I know the more I don’t know.
      T
      Terry53029Intuit Community Champion
      Intuit Community Champion
      April 27, 2023

      Here is an article from The Tax Advisor. 

      https://www.thetaxadviser.com/issues/2019/jun/conversion-c-corporation-llc.html#:~:text=No%20gain%20or%20loss%20is,in%20exchange%20for%20membership%20interests.

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