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    S Corp Stock Transfer
    What is the procedure to transfer a percentage of shares of a Pennsylvania S corp to my two children? Scenario as follows:

    Owner - 100% of shares
    Transfer 25% of company to child 1
    Transfer 25% of company to child 2
    I will own 50% of the company

    Who do I need to talk to so I can transfer 50% of the company? Does my accountant need to do this? I'm willing to just gift these shares to them. Is there a form that needs to be supplied to the state or does the K-1 for our tax returns now reflect this?

    The articles of incorporation state the following:
    250,000 shares of common stock - $0.10 par value.
    1,000 share of preferred stock - $100 par value.
    5 1/2% dividends payable out of the profits of the corp when earned, non-cumulative, and non voting.


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