Transfer of Ownership to a Related Party - Taxable

[Cr1s]

I have a client who is a 100% owner of a C-Corp. He wants to transfer ownership to his dad. Does this create taxable income?

Thanks,

 

[heyadrian]

If the company itself have a capital value (normally seen in the balance sheets), then capital gains would probably have to be paid.

Any money made from the company in terms of salaries or shares withdrawal can also be seen as an income.