Some S corporations may find it beneficial to convert to C corporations because of the new, flat 21 percent C corporation tax rate. The recent changes make two modifications to existing law for a C corporation that:

1. Was an S corporation on Dec. 21, 2017
2. Revokes its S corporation election after December 21, 2017, but before December 22, 2019, and
3. Has the same owners of stock in identical proportions, on the date of revocation and on December 22, 2017.

The following modifications apply to these entities:

Read More