A single member LLC (filing schedule C for taxes) was merged into a C-corp in November 2008 in New Jersey (section 368 - type A) . The LLC ceased to exist and the C-Corp was the surviving entity. The C-Corp assumed 100% of the assets and liabilites of the single member LLC. The LLC had only a cash balance as an asset. The LLC and the C-Corp are in the same line of business.
Any ideas on...
Q1 - Whether the 2008 income and expenses for the LLC (from Jan 2008 to November 2008) can be reported entirely thru the C-Corp ?
Q2 - Does the owner of the LLC need to file any tax returns (the LLC was NOT closed BUT merged ) ?
Does the corporation law states that the merger has to be between the entities of the "same type" (e.g. C-corp to C-corp) ??
thank you for any insights...
Any ideas on...
Q1 - Whether the 2008 income and expenses for the LLC (from Jan 2008 to November 2008) can be reported entirely thru the C-Corp ?
Q2 - Does the owner of the LLC need to file any tax returns (the LLC was NOT closed BUT merged ) ?
Does the corporation law states that the merger has to be between the entities of the "same type" (e.g. C-corp to C-corp) ??
thank you for any insights...
Tags:
merger,
llc,
into,
c_corporation
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