Essentially what this is saying is that a company has to pay tax on the money they receive on a life insurance policy the company took out on a board member. If they use the money to buy the shares back or facilitate the containment of the shares using that money. This is essentially taxing just the company’s income, albeit from an insurance claim for a life insurance policy.
If I am understanding the ruling correctly anyways.
Yes they do. Most, if not all, are unconstitutional. Yet still “legal” under man’s law. I heard someone say awhile ago to “give ceaser what is his”. Sure, in that time period it was his gold he was lending out and taxing back. In America it’s supposed to be the peoples money the government is using.
Essentially what this is saying is that a company has to pay tax on the money they receive on a life insurance policy the company took out on a board member. If they use the money to buy the shares back or facilitate the containment of the shares using that money. This is essentially taxing just the company’s income, albeit from an insurance claim for a life insurance policy.
If I am understanding the ruling correctly anyways.
...taxes suck...
Yes they do. Most, if not all, are unconstitutional. Yet still “legal” under man’s law. I heard someone say awhile ago to “give ceaser what is his”. Sure, in that time period it was his gold he was lending out and taxing back. In America it’s supposed to be the peoples money the government is using.
Hear, HEAR!
https://archive.ph/wip/XXLE4