0
If you sell part of your corporation does the income from the sale belong to you or the company?
Wiki User
∙ 17y ago
Corporate ownership (other than a non-profit) is represented by shares of stock. If you own shares, you may sell your "part of the corporation," provided it does not violate any agreement you may have with the other shareholders (including the articles and bylaws), or any fiduciary duty you may have to them (if it is a small number of shareholders). If it is a publicly held corporation, ask a securities attorney for help with any significant (reportable) sale, or if you are an insider. If the "part of the corporation" you refer to means "a subsidiary" or some capital assets of the corporation, then all of the proceeds of such a sale must go to the corporate treasury. Another answer stated that, "well if you sell the stock that you own then the money belong to you, but if the stock belongs to the corp than the money belongs to the corparation, however if your diong this to make personal money and are on the board or exec you can give you self a "bonus" for all your hard work. the bonus will be taxed as personel income so be careful"
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
Did Raytech Corporation sell part of their company?
yes
What is the company that makes Playstation called?
It is part of the Sony Corporation
Why did the British broadcasting company change to the British broadcasting corporation?
A company turns into a corporation when one or more people invest in it (put money in the company to own part of it), the investors then become shareholders and the company's legal status turns into a corporation.
When you buy stock in a corporation you become part owner of that company.?
Yes
When you buy stock in a corporation do you become part owner of that company?
Yes
You are a part owner of NewBrands Corporation because you _____.?
own the company’s stock
How can you be a part owner of a corporation?
If company listed in stock exchange then anybody can purchase it's shares and become owner of corporation.
What oil company starts with Q?
Quaker State Corporation (now part of Shell Oil Company) Q8
What is an advantage of corporation?
The net income of an S-Corporation are taxed to the end of the S-Corporation's fiscal year as part of the income taxes that are paid during the shareholders tax year in which the S-Corporation completes its fiscal year. This provides a benefit of avoiding the corporation "double-tax". That is, with other types of corporations, the corporation pays the taxes directly. Then, when you sell your stock in the company the increased value of the stock is taxed again. When you sell an S-Corporation stock, you are not taxed on the gain as a stockholder because the tax was already paid when the corporation reported income. The corporate tax rate is also usually higher than the highest individual tax rates. If the tax is paid through an individuals income tax, the overall tax paid as a percentage of the corporations income is lower than it would be under other types of corporations. An S-Corporation also has an added benefit when it takes a loss for the fiscal year. With other types of corporations, usually a loss results in zero tax. With an S-Corporation, the loss is passed to the shareholders who can deduct the loss from their income for individual income tax purposes, resulting in a lower tax for the individual.
Is Allstate Enterprises Mortgage corporation part of Allstate Life Insurance Company?
yes
Is expnses a balance sheet or a income statement?
All expenses incurred are part of income statement of company whle advance expenses or expenses payable are part of balance sheet.
Is the North Face Corporation privately or publicly traded?
The North Face is part of VF Corporation, which is a publicly-traded company (NYSE: VFC).
