Like-for-Like Sales

(redirected from Like-Kind Exchanges)

Like-for-Like Sales

The comparison of a company's sales over a given period of time to the sales from a different period of time that resulted from the same or similar activities. For example, if a company has $3 million in sales in 2009 from its flagship store, this is compared to its sales from the same flagship store in 2008 and not to any of its satellite stores. Comparing like-for-like sales ignores the effects of expansion or other changes in activities that could distort comparisons from year to year.
References in periodicals archive ?
amp;nbsp; Commercial Like-kind exchanges The final tax law bill retained Section 31 like-kind exchanges for real property including land, buildings and improvements.
Along with carried interest, 1031 like-kind exchanges have often been mentioned as possible targets of tax reform.
The association co-sponsored The Economic Impact of Repealing or Limiting Section 1031 Like-Kind Exchanges in Real Estate, which was presented on Capitol Hill in Washington, D.
The new California Form FTB 3840, California Like-kind Exchanges, is available on the FTB's website to allow for public comment.
To avoid actual or constructive receipt, in most deferred like-kind exchanges, the taxpayer hires a qualified intermediary (QI), an independent party that holds the sale proceeds until replacement property is acquired.
Like-kind exchanges can take many forms in addition to the one in the previous example.
gold for gold, or silver for silver), the transaction will generally receive nonrecognition treatment, subject to the rules for like-kind exchanges in IRC Section 1031 (see Q 7526).
Unfortunately, the rules for like-kind exchanges do not apply to exchanges of the following types of property:
Like-kind exchanges have become increasingly common.
One of the more well-known non-recognition provisions of the tax law is for like-kind exchanges.
168(i)-6 provide rules and examples to help harmonize depreciation treatment under the modified accelerated cost recovery system (MACRS) of the exchanged basis of relinquished and replacement property in like-kind exchanges and involuntary conversions under IRC [section][section] 1031 and 1033.
Although anyone who owns investment or business property is eligible for this tax deferral benefit, Renee Collins formerly of RKC Tax and Financial Services, points out that "The IRS has a strict definition for like-kind exchanges that must be adhered to.