Getting money out of S Corp?

[digii3]

Just out of curiosity.. If a S-Corp sells an asset and the asset has appreciated in value over time, then taxes would be due. Lets say the asset is land and building (sold separately) so the land appreciation gets 15% tax and building gets the 25% (???) rate. Since S-Corp do not report taxes directly, rather, the owner/stockholders do personally, this tax is already paid by the owners. Does this mean the money is non-taxable again when the owners takes it out by closing the business or other means or what exactly does this mean? Thanks.

[jmrouleau]

Doubtfull....do yourself a favor and start a C-Corp and find a good tax lawyer.