No. Cash earned by a corporation does not affect the basis of its shareholders. If such cash earnings were distributed as a dividend, it would not affect the basis of its shareholders but would be taxable as income to the shareholders.
(Cash distributed by a corporation but which is not earned, i.e.,if the corporation has negative earnings at the time of the distribution, would reduce the shareholder's basis.)
If you were dealing with a partnership/LLC, the $65k would generally increase its partners' basis in the partnership/LLC. However, in such case you wouldn't be dealing with double taxation in the first place.
(Cash distributed by a corporation but which is not earned, i.e.,if the corporation has negative earnings at the time of the distribution, would reduce the shareholder's basis.)
If you were dealing with a partnership/LLC, the $65k would generally increase its partners' basis in the partnership/LLC. However, in such case you wouldn't be dealing with double taxation in the first place.