closed corporation

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To operate under these relaxed rules, some states require the corporation both qualify as a closely held corporation (typically less than 50 shareholders) and elect "statutory close corporate" status.
1) While most closely held corporations are small organizations, as the above list illustrates, many are large businesses.
469(c)(7)(D) applies this provision to closely held corporations if more than 50% of the gross receipts of the corporation are derived from real property trades or businesses in which the corporation materially participates.
Fortunately, many states have enacted laws that relax nonessential governance requirements for closely held corporations.
The valuation of stock in a closely held corporation is a difficult issue frequently argued before the courts.
The IRS carefully scrutinizes transactions between closely held corporations and their controlling shareholders to make sure such transactions benefit the corporations, not simply the shareholders.
Sunstate") dba Peach State Homes and its affiliated company, South Georgia Frames Unlimited ("South Georgia"), two closely held corporations engaged in the manufacture and sale of single family homes.
In cases involving spouses and their closely held corporations, the courts have held conflicting opinions on the answer to this question.
This may be particularly attractive for closely held corporations.
The 1996 act lifts many of the prohibitive restraints in subchapter S corporation rules dating back to 1958 and expands the availability of S corporation status to many closely held corporations that previously were ineligible.
The Internal Revenue Service guidelines for valuing stock in closely held corporations are very general.
Although contingent compensation arrangements are often an indispensable part of the business world, they are subject to special scrutiny in closely held corporations, Regs.
Buy-sell agreements can be valuable tools to closely held corporations that seek to protect shareholders' ownership interests and increase the probability of achieving a long and successful operating life.
As a practical matter, the tax is imposed almost exclusively on closely held corporations.
This question normally arises when dealing with closely held corporations that have few, if any, employees other than those receiving the distributions.