It may have been his guilty conscience, it may have been the reputation of the Pinkerton organization, it may have been the knowledge that great, rich corporations
had set themselves the task of clearing out the Scowrers; but, whatever his reason, his actions were those of a man who is preparing for the worst.
After the acquisition, at least 60% of such foreign corporation's stock (determined by vote or value) is held by the domestic corporation's former shareholders (or the domestic partnership's former partners) "by reason of" holding stock in the domestic corporation or an interest in the domestic partnership; and
The result of such an "inversion" is that the foreign acquiring company becomes a surrogate foreign corporation with respect to the domestic corporation or partnership that is the expatriated entity.
As it has evolved over the last 150 years, the American corporation is more than just a mode of business.
Yet back in the days when the corporation was still new and its impact clear, the question was of obsessive concern.
Moreover, the company said the Alabama domestic shares tax--which foreign corporations do not pay--did not offset the discrimination resulting from the foreign corporation franchise tax.
On the other hand, a foreign corporation's tax base contained "many additional balance sheet items that are valued in accordance with generally accepted accounting principles, rather than by arbitrary assignment by the corporation.
The ability to transfer property to a corporation without the recognition of gain is the "baseline" for understanding the Ninth Circuit's analysis.
The principal exception to nonrecognition of gain under section 351 arises where a taxpayer receives "boot" -- money or property other than stock in the corporation -- in exchange for the property contributed.
Table 1-1: Nucor Corporation
- Major Mergers & Acquisitions (2002 to 2006)
In addition to being 100% owned by an S corporation
, a QSub must be a domestic corporation
that otherwise meets the basic S corporation
Often, the corporation
and the shareholders were not aware of an invalid S election until well after the tax year had ended, by which time both the corporation
and the shareholders had already filed returns reporting their income consistent with S status.
Section 1012 of the 1997 Act amends section 355 to place new restrictions on the acquisition and disposition of the stock of the distributing or controlled corporation
government financial incentives," wrote Byron Mallott, chief executive officer of the native corporation
Sealaska, in a public letter last year.
409A may apply to some fairly common S corporation
deferred-compensation and business practices