Tax implication for selling 50% ownership of a small business

Hi Everyone,

What is the tax implication for selling 50% of ownership of a small business? The owner is responsible for the capital gain based on the proceed of the sale right? If the owner incorporated the business herself, that means the shares were not worth anything at the time the business was incorporated right?

thank you in advanced!

Yes, in general, that is correct. Cost of the shares is (usually, but not always) nominal.