collapsible corporation

collapsible corporation
A corporation formed or availed of principally for the manufacture, construction, or production of property, for the purchase of property, or for the holding of stock in a corporation so formed or availed of, with a view to the sale or exchange of stock by its shareholders (whether in liquidation or otherwise), or a distribution to its shareholders, before the realization by the corporation of a substantial part of the taxable income to be derived from such property, and the realization by such shareholders of gain attributable to such property. I.R.C. No.No. 337(c), 341(bXD. These I.R.C. provisions prevent the prearranged use of a corporation to convert ordinary income into capital gain
+
A corporation formed for one specific venture such as a motion picture, or construction of a building, and then collapsed, allowing tax advantages to the shareholders. I.R.C. No. 341

Black's law dictionary. . 1990.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • collapsible corporation — noun : a corporation that plans to liquidate or whose shares are to be sold to others before sale of goods produced so as to turn what should be taxable income into a capital gain for shareholders * * * collapsible corporation, a corporation… …   Useful english dictionary

  • collapsible corporation — A corporation formed or availed of principally for the manufacture, construction, or production of property, for the purchase of property, or for the holding of stock in a corporation so formed or availed of, with a view to the sale or exchange… …   Black's law dictionary

  • collapsible corporation — A corporation organized under a prearranged plan for its liquidation before there is opportunity for it to realize any or any substantial taxable income. IRC § 341 …   Ballentine's law dictionary

  • collapsible corporation — company functioning for a brief period of time for a particular purpose …   English contemporary dictionary

  • corporation — An artificial person or legal entity created by or under the authority of the laws of a state. An association of persons created by statute as a legal entity. The law treats the corporation itself as a person which can sue and be sued. The… …   Black's law dictionary

  • corporation — An artificial person or legal entity created by or under the authority of the laws of a state. An association of persons created by statute as a legal entity. The law treats the corporation itself as a person which can sue and be sued. The… …   Black's law dictionary

  • Taiyo Kogyo Corporation — is a Tokyo, Japan based company that is most notable for its design, production and/or installation of membrane structure roofs and to a lesser extent space frame truss systems. The company s brand of membrane is MakMax. The company has 40… …   Wikipedia

  • Questar Corporation — Infobox Company company name = Questar Corporation company company type = Private company slogan = foundation = 1950 location = New Hope, Pennsylvania, USA key people = Donald J. Bandurick, President and CEO num employees = industry =… …   Wikipedia

  • Heckler & Koch G3 — G3 G3A3 Battle Rifle Type Battle rifle Place of origin …   Wikipedia

  • 3DMark — is a computer benchmark by Futuremark Corporation (formerly MadOnion, formerly Futuremark) to determine the DirectX performance of graphics cards.The measurement unit 3DMark is intended to give a normalized mean for comparing different graphics… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”