wholly owned subsidiary

(redirected from Wholly Owned)

Wholly owned subsidiary

A subsidiary whose parent company owns virtually 100% of its common stock.

Wholly Owned Subsidiary

A company that, while theoretically publicly-traded, has all of its common stock owned by a single company. Some wholly owned subsidiaries belong to the same industry as the parent company, while others do not, and are part of a diversification effort on the part of the parent company. A wholly owned subsidiary's board of directors is directly appointed by the parent company, and is ultimately responsible to the shareholders of the parent company. Some wholly owned subsidiaries were once part of the parent company but were spun off, while others were smaller companies bought outright by their parent companies. See also: Holding company.

wholly owned subsidiary

A company that is totally owned by another company. For example, American Airlines is a wholly owned subsidiary of AMR Corp. A wholly owned subsidiary may have publicly traded preferred stock and debt, but all of its common stock is owned by a parent company and is unavailable for purchase.
References in periodicals archive ?
Into this void enters Grigoraci, TC Memo 2002-202, in which the Service loses a dispute to disregard a wholly owned S corporation.
If a taxpayer rents property to his or her wholly owned corporation, IRC section 469 generally categorizes this as a passive activity.
This technology was originally developed by Delta Biotechnology, a wholly owned subsidiary of Aventis Behring.
MagEnergy, a wholly owned subsidiary, is the leading participant in the refurbishment (Phase I) and rehabilitation (Phase 2) of the generating capacity at the 1440MW Inga II Hydroelectric station on the Congo River in the DRC.
Most domestic corporations that are wholly owned S subsidiaries are eligible, except for financial institutions using the reserve method of accounting for bad debts, insurance companies, current or former domestic international sales corporations, corporations subject to the possessions credit provisions and foreign corporations.
As previously announced, the Company intends on aggressively competing in the Information Technology sector through its new wholly owned subsidiary, Jinan Yinquan Technology Co.
In Clark, 489 US 726 (1989), a shareholder sold his wholly owned corporation to a publicly held corporation.
LONDON -- On Friday 8 September, Lloyd's approved a new syndicate, Syndicate 1919, which will be managed by Marlborough Underwriting Agency Limited (MUAL), a wholly owned subsidiary of Berkshire Hathaway.
However, in Letter Ruling (TAM) 9403003, the IRS National Office ruled that advances made by a shareholder to his wholly owned S corporation did not create basis.
through its wholly owned subsidiary Bio-Matrix Scientific Group Inc.
OTCBB:CPPT), an energy technology company that combines satellite-based technology with traditional exploration services, which does business through its wholly owned operating subsidiary, Terra Insight Corporation, announced today that its Namibia subsidiary, Namterra Mineral Resources (Pty) Ltd.
is the wholly owned subsidiary of Terra Insight Corp.