Vancouver Auto Liquidation is a locally owned family business.We are the largest pre-owned dealership, with the most competitive pricing in BC.
Generally, once an LLC has elected to change its classification, it cannot elect again to change it classification during the 60 months after the effective date of the election.Instead of paying a dividend (in the case of a C corporation) or a distribution (for an S corporation) in cash, you may be tempted to distribute property (car, computer, etc.) out of the corporation. If an S corporation distributes appreciated property to its shareholders, the difference between the fair market value and the property's basis will result in a gain that will be passed through to the shareholders. (an S corporation) owns a truck that was purchased for ,000.