Correct. Options exercised in a CCPC don't result in a tax hit until the shares are liquidated. Options exercised in a non-CCPC are subject to income tax on t

Correct. Options exercised in a CCPC don't result in a tax hit until the shares are liquidated. Options exercised in a non-CCPC are subject to income tax on the difference between strike price and FMV of the shares at the time of exercise. Fun!