How do taxes work when selling a company?
Tuesday, June 2nd, 2009
Rosalia B asked:
If i were to buy a company for 10 million financed with loans, then over time pay off the loans, and then sell the company for 10 million, do I pay taxes for the business considering it was sold for the same as purchase amount? What if i sold it for 20 million? Will only the last 10 be taxed?
If i were to buy a company for 10 million financed with loans, then over time pay off the loans, and then sell the company for 10 million, do I pay taxes for the business considering it was sold for the same as purchase amount? What if i sold it for 20 million? Will only the last 10 be taxed?