Accordingly, the AAA is first adjusted for income, second for losses, deductions and other expenses, third for nonredemption ("ordinary") distributions and finally, for redemptions.
XYZ's AAA at the end of 1996 (before reduction for distributions) was $120,000 ($50,769 beginning balance + $69,231 of 1997 income).
302 or 303, the AAA and AE&P would be allocated as though all the distributions were ordinary.
Beginning AAA balance $ 50,769 1997 income 69,231 Less: ordinary distributions (100,000) Balance before redemption $ 20,000 Reduction for redemption (25%, corresponding to percentage of outstanding shares redeemed) (5,000) AAA balance at end of 1997 $ 15,000
Effects when AAA is negative: When a corporation has sustained losses in excess of its income, the AAA may have a negative balance.
It is anticipated that granting the general public access to the new and enhanced AAA TripTik ([R])mapping tool will generate revenue for the Auto Club once users identify the multiple savings and benefits available to AAA members.
As part of AAA Minnesota/Iowa's marketing message for the new and improved TripTik([R]) travel planner, consumers will be encouraged to Map it.
2) The ability to comparison shop and book travel reservations on your own PC (with special rates for AAA members),
3) Just go, confident that AAA has paved the way for a stress-free trip.