Reports the issuance of regulations on the qualification and treatment of electing small business trusts by the U.S. Internal Revenue Service and Treasury. Regulations superseded from the amendments of corporation regulations; Termination of corporate election; Rule on the effect of the holder of ...
According to the Department of Business & Professional Regulation’s Election Brochure for Condominium and Cooperative Associations, vacancies on the board can only be filled by electing a new member and the election must be held on the same day and in the same place as the association’s annual...
The new rules flesh out the mechanics of the ESBT election, operation, and termination, including the tax consequences of the grantor portion, S portion, and non-S portion of the trust, and clarify the definitions of beneficiary and eligible current beneficiary. INSET: Practice Notes.. [ FROM...