If you ever decide to sell your professional corporation, you may qualify for the **Lifetime Capital Gains Exemption (LCGE)** on the sale of shares in the corporation. This exemption allows you to claim up to $913,630 in 2024 of tax-free capital gains on the sale of shares of a qualifying small business. However, the professional corporation must meet specific requirements for this exemption, such as being an active business and not holding substantial passive investments.
