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collapsible corporation |
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collapsible corporation A former tax-planning tool allowing conversion of ordinary income to capital gains through the vehicle of a corporation set up and then quickly “collapsed” by a sale or exchange of the stock or a liquidation.Today,the vehicle has been largely penalized out of existence by the IRS.If the corporation is collapsed and the stock sold within 3 years of formation,sale proceeds will be treated as ordinary income although such a holding period would otherwise qualify for capital gains treatment.See also thin corporation. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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