Finally, BlackRock said that it does not provide tax advice and investors should consult their tax advisers regarding the tax treatment applicable to a liquidating
distribution, any other payments received in connection with the liquidation and from the ownership and operation of the Liquidating
Trust and any future distributions by it.
The company also announced today that its transfer records will be closed, and the company's stock transfer agent will no longer recognize or record transfers of the company's common stock for any reason, effective on the Record Date for the Final Liquidating
Trust filed a cross-complaint against the city and the original developers.
Table 1 Retention Dividend yeild 8% of $20 million $ 1,600,000 Less 70% dividend received deductions 1,120,000 Taxable income $ 480,000 Corporate tax 34% 163,200 Distribution ($1,600,000 less $163,200) $ 1,436,800 Less 28% shareholder tax 402,304 After-tax return to shareholders $ 1,034,496 Liquidation Liquidating
distribution $ 20,000,000 Less tax on distribution Section 331:.
Upon payment of the Final Liquidating
Distribution, the Company will have made aggregate liquidating
distributions (which include the initial liquidating
distribution made on March 24, 2009, the Second Liquidating
Distribution made on December 24, 2009, and the Final Liquidating
Distribution) of $29,545,420, or $0.
Practice tip: The liquidation-reincorporation technique may be useful when the liquidating
corporation has sufficient net operating losses (NOLs) to offset the gain recognized on its disposition of low-basis property in complete liquidation.
PK) today announced that, in accordance with the Plan of Complete Liquidation and Dissolution (the "Plan of Liquidation") approved by its stockholders on January 26, 2009, its Board of Directors has approved a second liquidating
distribution (the "Second Liquidating
Distribution") in the amount of $0.
The half interest in land Hex received is treated as a liquidating
distribution and takes a basis equal to Hex's remaining partnership basis--$2,500.
trading symbol: MZTH) (the "Company" or "MZT Holdings"), announced today that the Company's Board of Directors has declared a liquidating
distribution of $0.
However, the tax consequences of converting a C corporation to an LLC could have deleterious effects on both the liquidating
corporation and its shareholders.
The corporation would use its $100,000 NOL carryover to offset the $100,000 gain ($200,000 FMV of assets--$100,000 basis) it would recognize on the liquidating
American Stone changed its name to ASI Liquidating
That is how much he is entitled to in liquidating
DENVER -- Cloyses Partners, LLC (the "Trustee"), the trustee of the AMV Liquidating
Trust (the "Trust"), today announced that AmeriVest Properties Inc.
The PFIC made a liquidating
distribution, but retained a small amount of funds for incidental expenses associated with a Sec.