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- To incorporate an existing business, you need to12:
- Incorporate and organize a new company.
- Sell the business or partnership to the corporation.
- Jointly elect to defer the paying of capital gains tax.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.There are three steps to incorporating an existing business:
- Incorporation and organization of a new company;
- Sale of the business or partnership to the corporation; and
intrepidlaw.ca/2014/03/18/incorporating-an-existin…You can incorporate an existing business. For example, if you operate a sole proprietorship, you can incorporate that proprietorship, turning it into a corporation. Similarly, a partnership can incorporate--and thereafter operate as a regular C corporation or an S corporation.www.scorporationsexplained.com/incorporate-an-e… - People also ask
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