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Corrections Corporation of America Message Board

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  • newMK newMK Sep 26, 2000 10:21 PM Flag


    The Internal Revenue Code is made up of chapters,
    one of which is "Income Tax". That chapter is made up
    of subchapters, two of which are C and S. Subchapter
    C is corporate taxation. A "Subchapter C"
    corporation is the same as a "C" Corporation, and either
    designation is appropriate when distinguishing it (a taxable
    C corp) from a corporation whose tax status is
    changed by a different subchapter.

    Subchapter C
    also contains rules on dividends and earnings and
    profits. Like Need High Yield, I couldn't find
    justification there for treating the Pfd Stock distribution as
    a taxable dividend. Then again, if someone was
    paying me big bucks, maybe I'd look a little harder.
    Unlike NHY, I defer to the hired guns.

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