Long Term Capital Gains for LLC owned by C-Corp

[Ray Slack]

I have a C-Corp that is the managing member and only owner of an LLC. The LLC only owns a piece of vacant commercial property for the last 4 years. I'm now thinking of selling that property. My question is would the long term capital gain be based on the 15% long term capital gains rates since it's held in an LLC instead of ordinary income rates of 35%? C-Corp don't get the long term capital gains break but since the property is in an LLC would long term rate still apply?

15% long term rate versus 35% ordinary rate is huge as profit is about $200K. 

If the tax just flows to the Corp and the Corp has to pay the ordinary income rate could I add myself personally as a 2nd member to the LLC and then wait to sell it and qualify for the long term rate?

Thanks for any help/input.