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.
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.
When a taxpayer's residence qualifies as his or her principal place of business under section 280A(c)(1 )(A), daily transportation expenses paid or incurred between that residence and another work location in the same trade or business, regardless of whether the other work location is regular or temporary and regardless of the distance traveled.
In view of this, taxpayers who want to ensure that their home office qualifies as a principal place of business under amended Sec.
537 [1993]), the Tax Court allowed a self-employed tree cutter to deduct daily transportation expenses between his residence and numerous temporary work sites, even though Walker's home did not qualify as a principal place of business.
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.
This test will be applied only if the initial relative-importance test does not determine the taxpayer's principal place of business.
a)Property plus ltd having ceased to trade having its registered office & principal place of business at 15 beech hill, Cathedral road, cavan, h12e622 & (b)Solvitech ltd having ceased to trade having its registered office & principal place of business at 9 beechgrove, herons wood, carrigaline, cork p43fx26 & (c)R & T plant hire ltd having ceased to trade having its registered office & principal place of business at 9 tallow street, youghal, co.
If a taxpayer's residence is the taxpayer's principal place of business within the meaning of [section]280A(c)(1)(A), the taxpayer may deduct daily transportation expenses incurred in going between the residence and another work location in the same trade or business, regardless of whether the other work location is regular or temporary and regardless of the distance.
The Internal Revenue Service denied the deductions, claiming the home office was not Soliman's principal place of business (Internal Revenue Code section 280A(c) (1)(A)).