Gifting

[Phillip]

I own two Companies. One is a S corp and the other is Limited Partnership. Can any those companies gift. The person would be my sister.
Phillip

 

[Marshall]

Companies generally do NOT have donative intent, it is really YOUR intent as the owner of the companies. It would almost certainly be treated as a payment to you by the companies, and a gift by you to your sister.

 

[zianne]

Its usually a receivable on part of the other company and payable to the other. I agree that the intent to transfer asset/cash is usually based on the owner and not the company itself.