Form T2002 Election, or Revocation of an Election, Not to Be a Canadian-Controlled Private Corporation (2006 and Later Tax Year) - Canada

Form T2002 or the "Form T2002 "election, Or Revocation Of An Election, Not To Be A Canadian-controlled Private Corporation (2006 And Later Tax Year)" - Canada" is a form issued by the Canadian Revenue Agency .

Download a PDF version of the Form T2002 down below or find it on the Canadian Revenue Agency Forms website.

FAQ

Q: What is Form T2002?
A: Form T2002 is used for electing or revoking an election to not be a Canadian-controlled private corporation (CCPC) for tax purposes.

Q: What is a Canadian-controlled private corporation (CCPC)?
A: A CCPC is a private corporation in Canada that is controlled by shareholders who are Canadian residents.

Q: When can Form T2002 be used?
A: Form T2002 can be used for the tax year 2006 and later to elect or revoke an election to not be a CCPC.

Q: What does it mean to elect or revoke an election to not be a CCPC?
A: Electing or revoking an election to not be a CCPC means that the corporation will no longer be treated as a CCPC for tax purposes.

Q: Why would a corporation choose to not be a CCPC?
A: There may be certain tax advantages or disadvantages associated with being classified as a CCPC, so a corporation may choose to elect or revoke the CCPC status based on its specific circumstances.