Business Purpose

Business Purpose

A transaction with any purpose other than to reduce taxes. An act with a business purpose may have the side effect of reducing taxes (which may be the primary reason a business conducted it), but it must also advance the goals or objectives of the business. Having a legitimate business purpose is a key standard the IRS uses in determining whether an act is tax avoidance or tax evasion.
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References in classic literature ?
I have done a vast deal of this, but I have usually been aware that the book was subtly withholding from me the best a book can give, since I was not reading it for its own sake and because I loved it, but for selfish ends of my own, and because I wished to possess myself of it for business purposes, as it were.
The room Arthur Clennam's deceased father had occupied for business purposes, when he first remembered him, was so unaltered that he might have been imagined still to keep it invisibly, as his visible relict kept her room up-stairs; Jeremiah Flintwinch still going between them negotiating.
Sir Launcelot, in his richest armor, came striding along the great hall now on his way to the stock- board; he was president of the stock-board, and occu- pied the Siege Perilous, which he had bought of Sir Galahad; for the stock-board consisted of the Knights of the Round Table, and they used the Round Table for business purposes now.
In improves the tone of the thing, for business purposes, more than you can imagine.
Wilson put on enough clothes for business purposes and went to work under a high pressure of steam.
Always a good judge of character for business purposes, he seemed this afternoon to enlarge his field, and to note qualities outside neatness, obedience, and decision.
Perhaps you may have taken a loan of them for your business purposes; if that is so you are most welcome.
"Well, Vigneau has two more wagons and teams like that one, and he has a small pony besides for business purposes, for he does trade over a wide area.
In addition, Redwood may use a portion of the net proceeds from this offering to fund new investment opportunities in portfolios of residential, multifamily, or business purpose residential loans or securities, to make other portfolio investments, to fund its mortgage banking business, and to repay its $201M principal amount of exchangeable senior notes maturing in November, and for general corporate purposes.
The Board believed that to qualify for the "agricultural land" classification, the land must be farmed for a business purpose. The Ogdens sought certiorari review, and the Circuit Court for Waukesha County, Kathryn W.
Valid Business Purpose Is Not Enough to Defend a Transaction That Is Technically Governed by Sec.

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