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Spin-Off |
Also found in: Dictionary/thesaurus, Financial, Idioms, Encyclopedia, Wikipedia, Hutchinson | 0.21 sec. |
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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 |
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Historically, when a domestic corporation sought to spin off a foreign subsidiary, Internal Revenue Code section 1248(f) provided the principal impediment. The business units, which Ethyl may spin off as an independent, publicly traded company yet to be named, now make up Ethyl's Chemicals Group. SOUTH JORDAN, Utah -- SportsNuts (OTCBB:SPCI) today announced that it will spin off Secure Netwerks, Inc. |
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