A taxing association

It's easy to overlook the wide definition of a 'participator'. A typical problem would be a joint venture company where shares and votes are held 50/50 by A and B. The intention would be for this to be a single company, not associated with any other company. However, if A is or become...

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Bibliographic Details
Published in:Commercial Motor 2005-11, Vol.202 (5153), p.41
Main Author: Webber, Jeffrey
Format: Magazinearticle
Language:English
Subjects:
Accounting periods
Associations
Capital stock
Commercial credit
Corporate taxes
Fines & penalties
Joint ventures
Stockholders
Tax returns
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Summary:It's easy to overlook the wide definition of a 'participator'. A typical problem would be a joint venture company where shares and votes are held 50/50 by A and B. The intention would be for this to be a single company, not associated with any other company. However, if A is or becomes the main loan creditor, the joint venture company is then controlled by A and is therefore associated with any other company controlled by A or A's associates.
ISSN:0010-3063