principal place of business


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principal place of business

n. location of head office of a business where the books and records are kept and/or management works. In most states corporations must report their principal place of business to the Secretary of State.

References in periodicals archive ?
Determining which location is the principal place of business is simply a question of fact.
Supreme Court rejected both the focal point test(4) and the facts and circumstances test(5) and established a new standard for determining when an office in the home qualifies as a principal place of business.
Under the Supreme Court's more restrictive facts-and-circumstances test, the two primary considerations used to determine whether a home office was a taxpayer's principal place of business were the relative importance of the activities performed at each business location and the time spent at each place.
If a taxpayer's residence is his principal place of business within the meaning of Sec.
The definition of what constitutes a principal place of business is central to determining whether a taxpayer may claim a business deduction for allocated home-related office expenses such as utilities, repairs and depreciation.
Delaware's broad definition of "holder" would encompass, for example, an LLC organized ("created") in Delaware but with a principal place of business located in Montana, a state that follows the 1995 Uniform Act.
In view of this, taxpayers who want to ensure that their home office qualifies as a principal place of business under amended Sec.
a)Gem Coaching Ltd having ceased to trade, having its registered office at no 5 Grosvenor Square, Rathmines, Dublin 6 & having its principal place of business at no 5 Grosvenor Square, Rathmines, Dublin 6 & (b)Kildever Four Ltd never having traded, having its registered office at 14 St Stephens Green, Dublin 2 D02Y611 & having its principal place of business at 14 St Stephens Green, Dublin 2 D02Y611 & (c)Kildever Three Ltd never having traded having its registered office at 14 St Stephens Green, Dublin 2D02Y611 & having its principal place of business at 12 St.
The IRS disallowed Walker's transportation expenses between job sites and his residence, reasoning that these expenses were nondeductible commuting expenses because Walker's residence was not established as his principal place of business according to the standards in section 280A.
The Court noted that this comparative analysis may reveal no principal place of business analysis does not demonstrate that the principal place of business is the individual's home, the individual is not entitled to a deduction for the home office.
Because the office was his principal place of business and was used exclusively for business on a regular basis, Chuck has properly claimed a home office deduction for several years.
766 [1980]), the Tax Court said daily transportation expenses incurred by a taxpayer traveling between an office in his or her residence and other work locations were deductible if the home office qualified as the taxpayer's principal place of business under IRC section 280A(c)(1)(A).