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- Title
Delaware and the Passive Investment Company.
- Authors
Dyreng, Scott D.; Lindsey, Bradley P.; Thornock, Jacob R.
- Abstract
The article discusses the advantages of the use of passive investment companies (PIC) to exempt income gained through intangible assets in Delaware. It mentions the provision of the Delaware General Corporation Law (DGCL), which exempts income of corporations whose activities in the state are through the maintenance and management of intangible assets. It discusses the requirements by which PIC can be used to be exempted from income tax including having operations in other high-tax states.
- Subjects
DELAWARE; UNITED States; PASSIVE investment companies; INTANGIBLE property; CORPORATE accounting; FINANCIAL planning; TAX exemption
- Publication
CPA Journal, 2016, Vol 86, Issue 10, p44
- ISSN
0732-8435
- Publication type
Article