Domestic corporation Sample Clauses

Domestic corporation. For purposes of paragraph (b) of this section, the term domestic corporation means a do- mestic corporation as defined in § 301.7701–5 of this chapter, and the term corporation includes an entity that is classified as an association tax- able as a corporation under § 301.7701–2 of this chapter.
Sample 1Sample 2Sample 3See All (9)
Domestic corporation. A domestic corporation which has secured, or is re- quired to secure, an identification number as an employer having in its employ one or more individuals in em- ployment for wages is not required to secure an identification number under the regulations in this part.
Sample 1Sample 2Sample 3See All (4)
Domestic corporation. TABLE OF CONTENTS ----------------- 1. Terms of Appointment; Duties of the Bank ................... 1
Sample 1Sample 2
Domestic corporation. The League, by executing this Agreement, certifies that it is authorized to transact business in Alaska. The League further certifies that it will maintain such status during the term of this Agreement. This Agreement is subject to termination, at the option of the Borough if, at the time the League entered into this Agreement, it was not authorized to transact business in Alaska; or, having qualified to enter into this Agreement fails to maintain such status during its term.
Sample 1
Domestic corporation. One of the key advantages of ownership through a corporation, which distinguishes it from direct ownerships, is the liability shield it provides its nonresident owner while offering potential tax benefits. Additionally, the corporation acts as its taxpayer, eliminating the responsibility of the foreign owner to file federal and state tax returns. However, this structure only offers partial anonymity because of disclosures on tax returns filed by the corporation. U.S. corporations are subject to federal income tax on current income (net of deductions) at graduated rates exceeding those faced by individual owners, and a flat withholding tax when the profits are repatriated to the foreign shareholder. This structure also creates an extra tax burden for the foreign investor with increased capital gain rates and the second layer of taxation upon repatriation of profits. Another disadvantage of this structure is that the value of the stock in the domestic corporation is subject to U.S. estate tax upon the death of the foreign individual. However, the gift of stock in a domestic corporation is not subject to U.S. gift tax. While an option to the investor, the use of a U.S. corporation by foreign investors is very limited and often, not advisable.
Sample 1

Related to Domestic corporation

  • NCL CORPORATION LTD an exempted company incorporated under the laws of Bermuda with its registered office at Park Xxxxx, 00 Xxx-xx-Xxxxx Xxxx, Xxxxxxxx XX 00, Bermuda (the "Guarantor")

  • S Corporation The Company has not made an election to be taxed as an "S" corporation under Section 1362(a) of the Code.

  • U.S. Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Corporation A. For any Concessionaire that presents itself or represents itself as a corporation operating or doing business in the State of New Jersey, all papers of incorporation, including authorized agents for receipt of legal documents, shall be provided to Department, along with renewals, changes, or any other documents that in any way affect the current or future status of Concessionaire as a legal corporation. B. Concessionaire shall adopt the required corporate or partnership resolution, as applicable, authorizing the execution of the Agreement by Concessionaire. Concessionaire shall submit a copy of said resolution to Department prior to execution of the Agreement by Department. C. Prior to the Effective Date of the Agreement, Concessionaire shall provide the Department with a completed Ownership Disclosure Form pursuant to N.J.S.A. 52:25-24.2.

  • Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Corporation, etc The Buyer is a corporation (other than a bank, savings and loan association or similar institution), Massachusetts or similar business trust, partnership, or charitable organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.

  • Domestic Subsidiaries Where Domestic Subsidiaries of the Borrower which are not Credit Parties hereunder (the "Non-Guarantor Subsidiaries") shall at any time constitute more than (the "Threshold Requirement"): (i) in any instance for any such Non-Guarantor Subsidiary, five percent (5%) of consolidated assets for the Consolidated Group or five percent (5%) of consolidated revenues for the Consolidated Group, or (ii) in the aggregate for all such Non-Guarantor Subsidiaries, ten percent (10%) of consolidated assets for the Consolidated Group or ten percent (10%) of consolidated revenues for the Consolidated Group, then the Borrower shall (i) promptly notify the Administrative Agent thereof, and promptly cause such Domestic Subsidiary or Subsidiaries to become a Guarantor by execution of a Joinder Agreement, such that immediately after joinder as a Guarantor, the remaining Non-Guarantor Subsidiaries shall not in any instance, or collectively, exceed the Threshold Requirement, (ii) deliver with the Joinder Agreement, supporting resolutions, incumbency certificates, corporate formation and organizational documentation and opinions of counsel as the Administrative Agent may reasonably request, and (iii) deliver stock certificates and related pledge agreements or pledge joinder agreements evidencing the pledge of 100% of the Voting Stock of all Domestic Subsidiaries (whether or not they are Guarantors) and 65% of the Voting Stock of all Foreign Subsidiaries, together with undated stock transfer powers executed in blank.

  • EXPATRIATE CORPORATIONS Contractor hereby declares that it is not an expatriate corporation or subsidiary of an expatriate corporation within the meaning of Public Contract Code Section 10286 and 10286.1, and is eligible to contract with the State of California.

  • Subsidiary For purposes of this Agreement, the term “subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.

  • Wholly Owned Subsidiary As to the Borrower, any Subsidiary of Borrower that is directly or indirectly owned 100% by the Borrower.