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I have a tax question - let's say in light of federal tax law, unless somebody is similarly versed in California state tax law, and can speak to that.
If a C-Corp gives a money gift to an individual, is that considered taxable income, or taxable after a certain amount, or tax free? I've heard it said that, if the money is gifted by the Board of Directors of a C-Corp, then it's a tax free gift.
(Nothing really rides on this information, at the moment. So feel free to tell what you think you've heard or read on the subject, even if you're not confident it's correct.)
If a C-Corp gives a money gift to an individual, is that considered taxable income, or taxable after a certain amount, or tax free? I've heard it said that, if the money is gifted by the Board of Directors of a C-Corp, then it's a tax free gift.
(Nothing really rides on this information, at the moment. So feel free to tell what you think you've heard or read on the subject, even if you're not confident it's correct.)
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