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Corrections Corporation of America Message Board

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  • newMK newMK Jun 29, 1999 5:49 PM Flag

    Statistical trivia re: ADV

    and for clarification:

    You said, "...the
    special dividend must be paid representing a REIT-type
    payout on earnings of a pre-merged entity. If PZN is not
    going to be able to pay out that dividend and loses
    REIT status, they would have to pay taxes on that
    previous income..."

    No, no, no. The tax has already
    been paid. To qualify as a REIT, PZN has to pay out
    any C (regular) corporate earnings and profits (the
    "special" dividend"). Tax was already paid on those
    earnings, and the after tax amount is what would be paid
    out. While the special dividend is fully taxable to
    recipients, it isn't deductible to PZN. If it isn't paid,
    there is zero tax consequence, other than not being a
    REIT.

 
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