Corporation ("C" Corp) owns 2 whole life insurance policies on officers with cash value of $20,000 on one, $30,000 on another. The Corp is the beneficiary and has never deducted the premiums. Each stockholder wants to draw the cash value from his policy. What are the tax implications to the officers and the corp? Salary? Dividend? What if the Corp changes the owner and beneficiary of the policies to the officers?
>
>
>
>
>
>
>
>
>