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Can a C-Corp with large NOL c/o merge with a S-Corp with large gain?

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    #1

    Can a C-Corp with large NOL c/o merge with a S-Corp with large gain?

    Both corps have been 100% owned by same individual for 15 years. Both corps are in the business of land development and sales. C-corp has 200K NOL c/o, modest retained earnings, only 2 properties left which will only create estimated 4K net income in the future when sold. S-corp has more properties and will be generating 100K/yr income for the next few years. Is there anyway that I can combine these two companies to take advantage of the C-corp NOL c/o loss against the Sub-S income? Any help is appreciated.
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    #2
    C Corp NOL's are locked into C Corp only filings. S Corp cannot use C Corp NOLs.
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.
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