| File | Topic |
|---|---|
| Chapter 20 - C Corporations/20.1-c-corporation-basics.md | Form 1120, Tax Rate, DRD, §351, E&P |
Key concepts: 21% flat corporate rate, Form 1120 (April 15), §351 nonrecognition (property only, 80% control), boot recognition in §351, DRD (50%/65%/100% based on ownership), E&P determines dividend vs. return of capital, accumulated earnings tax ($250K credit, 20% penalty), PHC tax (50% stock test, 60% passive income test), built-in gains tax (C→S conversion, 5-year recognition period, 21%).
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