Newly formed S Corp and newly formed ESOP. The S Corp buys assets from LLC to continue operating the business as S Corp. Does IRC section 1239 apply or is the ESOP NOT a related party? Who really owns the ESOP at the start?
Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.