Corporations - redemption of founder's stock qualified as a termination of shareholder's interest

Article Abstract:

The tax court's decision in Hurst, 124 TC No.2 (2005) relating to redemption of taxpayer's stock amounts to complete termination of the shareholder's interest under Section 302(b)(3) is discussed. The details of the case wherein HMI a corporation redeemed the stocks of its founder, Richard Hurst are furnished.

Corporations, Securities issued, listed, Capital Management-Stock Repurchase, Company legal issue, Cases, Securities, Company securities, Stock redemption, Tax courts, Hurst, Richard

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Shareholder agreements for closely held corporations

Article Abstract:

Issues related to taxation are dealt with in the shareholderEs agreement. The provisions related to the corporations should necessarily be included in this agreement. This inclusion puts an effective stop to problems related to taxation.

Contracts & orders received, Contracts & orders let, Stockholders, Contracts, Contract agreement, Close corporations, Closely held corporations

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Temporary regulations on deemed elections to be an association by S corporations

Article Abstract:

A temporary regulation is formed on taxation of S corporations in The United States. A report is presented about the new regulation.

Government regulation (cont), Government regulation, Interpretation and construction, Laws, regulations and rules, Reports, S corporations, Tax policy, United States. Internal Revenue Service, Amendments (Parliamentary practice)

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