Gifts From Subchapter S Corporations and Their Shareholders

Gifts From Subchapter S Corporations and Their Shareholders

PDF Article posted in Privately Held Business Interests on 13 October 2006| comments
audience: Partnership for Philanthropic Planning | last updated: 2 February 2011
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Summary

There are more than three million Subchapter S corporations in the United States with nearly six million shareholders. These corporations and shareholders can be major sources of charitable gifts, but there are technical tax laws that can turn a mistake in the gift transaction into a severe financial cost to the corporation, its shareholders and even to a charity that receives a gift. What are these laws? How does a charity evaluate whether the economic and tax benefits from the gift will exceed its costs? When can a CGA be safely issued for a gift of S corporation stock? This session addresses these questions.
Original Author: 
Hoyt, Christopher R.
There are more than three million Subchapter S corporations in the United States with nearly six million shareholders. These corporations and shareholders can be major sources of charitable gifts, but there are technical tax laws that can turn a mistake in the gift transaction into a severe financial cost to the corporation, its shareholders and even to a charity that receives a gift. What are these laws? How does a charity evaluate whether the economic and tax benefits from the gift will exceed its costs? When can a CGA be safely issued for a gift of S corporation stock? This session addresses these questions.

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