Tax status election

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Tax status election

The decision of the status under which to file a tax return. For example, a corporation may file as a C corporation or an S corporation.

Tax Status Election

The decision by a person or company about one's filing status. For example, a married person may file jointly with, or separately from, his/her spouse. Likewise, a company often may file as an S corporation or a C corporation. One makes a tax status election depending on one's circumstances and the filing status that is most advantageous.
References in periodicals archive ?
A tax instruction letter providing certain instructions on how to complete the tax election may be obtained at BCE's website http://www.bce.ca/investors/shareholder-info/glentel-acquisition.
13, the court said that a Boone County judge must enter an official judgment in a long-running lawsuit involving a sales tax election in Columbia.
M2 EQUITYBITES-January 10, 2019-Ellington Financial LLC declares exchange offer of up to USD86m senior notes, Conditioned Upon the Company's Corporate Tax Election
Global Banking News-January 10, 2019-Ellington Financial LLC declares exchange offer of up to USD86m senior notes, Conditioned Upon the Company's Corporate Tax Election
Holders of Kimbell's common units will receive a final Schedule K-1 for the period from January 1 through the day prior to the effective date of the tax election. Holders will receive a form 1099-DIV.
8-2018 to mean that only VAT exempt persons or those whose gross annual sales or receipts do not exceed the P3 million threshold and thus, are covered by the three percent OPT imposed by Section 116 of the Tax Code, as amended, can make the eight percent tax election. Accordingly, the implementing regulations cited that the following persons cannot avail of the eight percent tax option:
tax election and is governed by subchapter S, unless contradicted by subchapter C or otherwise indicated.
As noted above, an extension generally does not extend the time in which to pay; however, where payment of any balance due is not the issue, an extension will allow a taxpayer to file an omitted information return or make a valid tax election that may not have been an option without the extension.
There was a one-time cash tax charge in 2015 of $93 million related to Global Tower Partners (GTP) taken pursuant to a tax election, as GTP no longer operates as a separate REIT for state and federal tax purposes.
SCOTTISH Labour wanted this to be the tax election. Well it is now - but not the way the party envisaged.
We just use the name "enterprise risk captive" because we think that does a better job of reflecting their true business purpose than just calling them by their tax election.
"Since it would not be the recommendation of the administration, nor will time allow for a property tax election, the only option to avoid a deficit in the program is to reduce services," Daniel says in the letter that was sent to council members and local media outlets.
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