A Errol A. Brett, a Manhattan co-op lawyer, said that tax exemptions under the New York State School Tax Relief Program are personal to a shareholder and must be paid or credited to the shareholder.
Unlike the previous imputation system, the tax credit to the shareholder was less than the corporation tax paid (corporation tax was higher than the standard rate of income tax, but the imputation, or set-off, was only of standard rate tax).
But speaking to shareholders, they credited much of the quarter's $10 million increase in international revenue to the expansion of a detention center in Britain, where immigration was a hot issue in the 2010 election.
The company will credit the new Ford stock to shareholders and distribute cash starting today, and the new Ford shares will start regular trading today.
Partnerships, S corps and other "passthrough" entities don't pay taxes but do funnel their income, credits and complexity directly to shareholders' returns.
Before you go shopping for a Heloc, know that most banks do not give lines of credit to co-op shareholders, Mr. Shlufman said.
Corporations would then feel liberated by the plan to use the earnings they might have otherwise sheltered in housing credits to pay their shareholders tax-free dividends or reinvest them tax-free.
The objective of this paper is to evaluate whether dividend imputation, whereby tax credits may be passed on to shareholders for corporate tax paid, impacts corporate tax avoidance.
Mr Icahn claims credit for a big return to shareholders of some of Apple's $177 billion cash pile and the break-up of eBay, but both events would have happened anyway.
This fund-of-funds structure does not add to expenses, but the fund is probably better for tax-deferred accounts than for regular, taxable accounts because the international tax credit is not passed through to shareholders.
Carlyle Capital's chief executive, John Stomber, said in a letter to shareholders that the credit crisis has hit debt markets harder than the currency and credit woes that led to the collapse of Long Term Capital Management in 1998.
