Nontaxable Dividends

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Nontaxable Dividends

Dividends from a mutual fund or other investment company that are not subject to federal taxation. In order to issue nontaxable dividends, more than 50% of the fund's liquidity must be placed in municipal bonds or some other security that is tax-exempt.
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The corporation will benefit from a charitable deduction against its income for the year from taxes reduced to one fourth of the capital gain, and the shareholder will receive the difference in the form of non-taxable dividends.
Planned giving: donating to charities is always smiled upon, but with the right plan, it can also be a valuable tax benefit for both individuals and corporations
Effective for distributions on or after January 1, 2003, with respect to corporate earnings after 2000, public and private corporations would be permitted to distribute non-taxable dividends to their shareholders to the extent those dividends are paid out of income previously taxed at the corporate level.
Tax Executives Institute--U.S. Department of Treasury Office of Tax Policy liaison meeting: February 25, 2003
The record date for distribution of the non-taxable dividends will be August 20, 1997.
Qualix Group Adopts Stockholder Rights Plan
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