Private foundations : excess business holdings (section 4943) / Richard M. Horwood, Esq. and John R. Wiktor, Esq., Horwood Marcus & Berk Chtd., Chicago, Illinois
eBook/eTreatise | Tax Management | 2003
Arlington, VA : Tax Management, -
1 online resource
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Author: Christopher G. Stoneman, 2003-2010.
Published: Washington, D.C., 2003-2007.
"Tax Management Portfolio, Private Foundations--Excess Business Holdings (Section 4943), No. 473-2nd, explains the application and operation of [section] 4943 of the Internal Revenue Code, which imposes an excise tax on the excess business holdings of private foundations and certain donor advised funds and supporting organizations. As a general rule, under [section] 4943, the combined holdings of a private foundation and its disqualified persons are limited to 20% of the voting stock in a business enterprise that is a corporation or 20% of the profits or beneficial interest in a business enterprise that is a partnership, limited liability company, joint venture or unincorporated association."
Detailed analysis. Introduction -- Threshold requirements -- Special rules for May 26, 1969 holdings and certain later acquisitions -- Computation of initial tax and additional tax -- Accumulated earnings tax and stock redemptions -- Working papers.
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Private foundations : excess business holdings
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