Legal Question in Business Law in Iowa

In 2011 our family corporation decided to change from C corp to S corp for tax , and liquidating reasons. We understood that the land had to be actively farmed by family for 10 years. Now law is changed to 5 years, so can family cash rent next year?

Asked on 11/24/18, 9:09 am

1 Answer from Attorneys

Robert Luedeman solo practitioner

I'm not a tax attorney. I would suggest you contact a good tax attorney in your area, perhaps one who does your taxes yearly.

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Answered on 11/24/18, 10:57 pm

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