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Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Mon Apr 22, 2013 12:18 PM CDT

DTN Tax Columnist Andy Biebl is a CPA and tax partner with the accounting firm of CliftonLarsonAllen in Minneapolis, Minn., and a national authority on agricultural taxation. To pose questions for upcoming columns, email AskAndy@dtn.com.

Question:

My brother is retiring from our C corporation, and would like to take 20,000 bushels of wheat and some prepaid chemicals for his share of the ownership. There would be two of us remaining in the corporation, and our attorney said that we should just retire our brother's stock and not reissue any shares to ourselves. Is this OK, and do we reissue ...

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