Liquidating distribution two years
This means that the business sells off not just any inventory it may have, but its tools of production, building and any other assets it may have.
The purpose of this exercise is to gain the money necessary to pay off its debts and then to distribute the remainder to its shareholders through a liquidating dividend.
Only the amount that exceeds the taxpayer's basis in the stock is capital; this is taxed as a capital gain.
The basis in the stock is how much the taxpayer paid to obtain the stock.
ZEBRA TECHNOLOGIES SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF 0,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Zebra Technologies Corporation - (ZBRA) LINCOLN, Neb., June 23, 2017 -- Crossroads Capital, Inc.
(the “Company”) announced the results of its reconvened special meeting held on June 23, 2017.
A partnership distribution is not taken into account in determining the partner's distributive share of partnership income or loss.
The special meeting was reconvened on June 23, 2017, at which time the stockholders approved the Plan of Liquidation to convert the Company into Crossroads Liquidating Trust, a statutory trust formed for the purpose of liquidating and distributing the Company’s assets (the “Conversion”). Andrew Dakos, Phillip Goldstein, and Gerald Hellerman will serve as the initial trustees of the liquidating trust.
A corporation issues these dividends if it plans to terminate its business or if it plans to merge with another corporation under a new name.
When a corporation decides to shut down, it liquidates its assets.
Pursuant to the Plan of Liquidation, the Company has filed with the State of Maryland all documents required to convert the Company into a Maryland statutory trust. Upon the Conversion, each outstanding share of common stock of the Company will be converted into and exchanged for one unit of beneficial interest of Crossroads Liquidating Trust and all physical certificates representing common stock of the Company will become null and void. will no longer serve as the transfer agent for the Company and American Stock Transfer & Trust Company, LLC (“AST”) will be the distribution agent for Crossroads Liquidating Trust.
Registered shareholders are encouraged to contact AST at (800) 937-5449 or (718) 921-8124 to confirm their contact information for the timely receipt of any liquidating distribution.