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The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders.

When a spin-off occurs, the shareholders of the parent corporation are not required to surrender any of their parent corporation stock in exchange for the subsidiary's stock.

In the event that the distribution of stock to the parent corporation's shareholders amounts to a dividend, the distribution can be taxed pursuant to provisions of Income Tax statutes.

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References in periodicals archive ?
Without a real hit record to their name, the creative force behind Stavely Makepeace, namely Rob Woodward (vocals, piano) and Nigel Fletcher (drums) liked the idea of an off-shoot band based around two pianos, drums and bass.
Far out Cantonwards, as far as the tramlines go, to the confines of Ely, there stands a cluster of new streets - Daisy Street, Ethel Street, Ivy Street and Conybeare Road, and numerous off-shoots from the main road at the tram terminus, Clive Road.
The shortlist for the Orange Award for New Writers, an off-shoot of the Orange Prize for Fiction, has been announced and it includes British author Naomi Alderman.
He said the war in Iraq "is making billions of dollars for the big corporations, whether it be those who manufacture weapons or reconstruction firms like Halliburton and its off-shoot sister companies.
An off-shoot of the program is called "Meet Gay Copenhagen.
An off-shoot of national carrier Singapore Airlines, Tiger Airways will operate from Singapore's Changi Airport.
Now living on a farm in Whitley Bay, three decades ago Dave was best known as a member of the Bowie off-shoot, Spiders From Mars.
The 20cl red bottles are the junior off-shoot of Piper-Heidsieck champagne and have made their mark in the on-trade in the past year.
100 stores have opened their doors on Prince Street, a new off-shoot of SoHo, among them Ralph Lauren, Levi, and Simeon Morrison.
Upon hearing the news, Elissa Steamer put in her two weeks to ride for the newly conceived, highly secretive Baker off-shoot Bootleg Boards, whose other team riders are rumored to be recent Zero quitter Alex "Trainwreck" Gall, IE hot shoe Anthony Mosely, Euro-exile Ali Boulala and OG Warner Mobster Shane Heyl.
As Davies tells us in the very first paragraph, he was the inaugural editor of Nature Genetics, an off-shoot of the prestigious British science journal Nature.
This contribution to Renaissance art history concerns the painted decoration of the small library of the rather obscure Abbey at Praglia, an off-shoot of the better known Benedictine Cassinese house at S.