Posted by JHyre in Ohio on September 09, 2001 at 10:41:39:
Depends in part upon the tax history of the old corporation (accumulated losses, etc.). Also assumes that C-corp, as opposed to S-corp is right for RE business. C can be converted to S, but that is not always is a good idea with old C-corps- the accounting for and after such a conversion can be expensive enough to justify formation of a new corp altogether. The longer the consulting business ran, the more likely that it would be cheaper to set up new corp instead of paying accountants and tax advidsors to cleanse and convert the old one. If you use the old corp, check your original articles of incorporation to see if corporate purpose, etc. need to be amended.
John Hyre