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Massachusetts Trust
(redirected from Unincorporated business organization)

    Also found in: Financial, Wikipedia 0.01 sec.

A business arrangement that is used in place of a corporation or partnership in which trustees hold title to property for the advantage of beneficiaries for investment purposes.

A Massachusetts trust is another name for a common-law trust or a Business Trust, which offers its beneficiaries limited financial liability in transactions in which it engages.

Massachusetts Trust n. a business in which the investors give management authority to a trustee, and receive "trust certificates" representing their investments. Since they own only the certificates and do not participate in management, the investors can only lose their investment and are not personally liable for any debts of the trust. This is similar to a "limited partnership." A Massachusetts Trust is strictly a business entity and bears no relationship to a personal trust like living and testamentary trusts set up to manage and protect the assets of individuals and provide for eventual distribution.
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Use of terms such as pure trust, constitutional trust, sovereign trust or unincorporated business organization.
Not all trusts are trustworthy by Hart, Dale / Journal of Accountancy
7701 to allow domestic unincorporated business organizations to elect (i.
An update on the "check-the-box" proposal to entity classification by Pillow, Roger F. / The Tax Adviser
On March 29, 1995, the Internal Revenue Service issued Notice 95-14, asking whether a simplified method of classifying unincorporated business organizations should be adopted (commonly referred to as the "check-the-box" system).
Notice 95-14: check-the-box procedure for entity classification by Tax Executive
 
 
 
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