Parent Company


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Parent Company

An enterprise, which is also known as a parent corporation, that owns more than 50 percent of the voting shares of its subsidiary.

References in periodicals archive ?
Balfour Beatty Construction, Balfour Beatty Refurbishment and Balfour Beatty Group (for alleged infringements from 2000 onwards) and Mansell Construction Services (for alleged infringements from December 19, 2003), together with their current ultimate parent company Balfour Beatty.
Training should be completed at the subsidiary level so that if the parent company happens to go out of business, new franchisees can come into the subsidiary office and receive the training needed.
s CPAs work with the subsidiary's finance staff to install the accounting systems needed to prepare West Coast Dual's own income statements and balance sheets, which will be required whether the parent company tries its federal income taxes on a consolidated or unconsolidated basis.
Claims on a qualifying securities firm that are instruments the firm, or its parent company, uses to satisfy its applicable capital requirements are not eligible for this risk weight.
The proceeds didn't help either the parent company or its subsidiaries, including Mission Bufete Constructors.
No longer will a parent company be liable simply because it had the "authority to control" its subsidiary or even because it had "actual control.
Thus, the parent company was a member of an affiliated group and lost its eligibility for S status (private letter ruling 9433008).
The parent company concept, sometimes called the proprietary concept, regards control and ownership as two separate and necessary criteria for consolidation.
However, the tax code contains an exemption for certain existing indebtedness - debt with a fixed term that was issued on or before July 10, 1989, or, generally, debt that is merely guaranteed by the exempt foreign parent company.