Posted by E.Eka on October 29, 2003 at 09:22:54:
You’d have to declare dividends. The thing is, you’d have to act like a real corporation. Or else the IRS may say that you ‘pierced’ the corporate veil.
Besides the salary that’s all you have. Also remember you may be charge personal holding tax if your C-corp’s generates a large percentage of its income from passive activities. (STocks, bonds, REAL ESTATE)