Closely held business definition

Closely held business means a corporation whose stocks are held by not more than 25 individuals, a partnership of not more than 25 partners who are individuals, or a limited liabil- ity company of not more than 25 members who are individuals.
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Examples of Closely held business in a sentence

  • Closely held business 5,175,000.00 6,250,000.00Total of these items 5,175,000.00 6,250,000.00Shown on Return 5,175,000.00Change to schedule 1,075,000.00Closely Held Business is an operating company that qualifies for section 6166 deferral of estate tax.

  • Closely held business initiative spurs focus on SOE threat to U.S. firms.

  • Closely held business owners often out into buy-sell agreements to assure that the train remains in.

  • Slovic, Lay views on uncertainty in environmental health risk as- sessment.

  • These include public schools, libraries, courthouses and post offices (Hashim, 2019).Procurement is defined as the process of buying goods, works and services (FGN, 2017).

  • Closely held business owners need the ability to pay the estate taxes attributable to their business interests in installments.

  • Consumer credit debt is already reported to the credit bureaus and the IRS could require the credit bureaus to provide information returns on outstanding balances.• Closely held business ownership: The ownership of closely held businesses organized as partnerships and S-corporations is already reported through K1 forms that report the business income for each partner or shareholder.61 This ownership reporting requirement should be extended to closely held businesses that are C-corporations.

  • Closely held business assets represented only 4.6 percent of the total gross estate for estates that claimed SUV, similar to the 3.6 percent for those estates that did not claim the provi- sion.

  • Closely held business amount For purposes of this section, the term “closely held business amount” means the value of the interest in a closely held business which qualifies under subsection (a)(1).

  • Closely held business owners can hire family members as employees and shift income within the family.

Related to Closely held business

  • Transferred Business has the meaning ascribed to such term in the Separation Agreement.

  • Qualified business means an eligible business that:

  • Excluded Businesses means Business types which are excluded from application for an Inter-Community Business Licence and includes those Business types referred to in Schedule “A”.

  • Business concern or business means a business that has annual gross sales of less than $75,000,000 as evidenced by the federal income tax return of the business. A firm with gross sales in excess of this cap may apply to the Council for certification for a particular contract if the firm can demonstrate that the contract would have significant impact on businesses owned by minorities, women, or persons with disabilities as suppliers or subcontractors or in employment of minorities, women, or persons with disabilities.

  • Separate Business means each of the activities of the Licensee connected

  • Covered Business means (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

  • Retained Businesses means all businesses now, previously or hereafter conducted by Parent, the Sellers or any of their Subsidiaries or Affiliates, other than the Business.

  • Established business relationship means a relationship between a seller and a consumer based on:

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Similar Business means (1) any business conducted or proposed to be conducted by the Borrower or any of its Restricted Subsidiaries on the Closing Date, and any reasonable extension thereof, or (2) any business or other activities that are reasonably similar, ancillary, incidental, complementary or related to, or a reasonable extension, development or expansion of, the businesses in which the Borrower and its Restricted Subsidiaries are engaged or propose to be engaged on the Closing Date.

  • Retained Business means any business now, previously or hereafter conducted by Seller or any of its Subsidiaries or Affiliates other than the Business.

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Company Business means the business of the Company and its Subsidiaries as presently conducted.

  • Permitted Businesses means the business of owning, leasing and managing gasoline stations, convenience store properties and other retail real properties (including, for the avoidance of doubt, quick service or other casual restaurants and auto service and auto parts stores), and any other single-tenant net lease business, and business activities reasonably related to the foregoing (including the creation or acquisition of any interest in any Subsidiary (or entity that following such creation or acquisition would be a Subsidiary) for the purpose of conducting the foregoing activities), in each case that are permitted for real estate investment trusts under the Code.

  • Disadvantaged Business means a small business concern: (a) which is at least 51 percent owned by one or more socially and economically disadvantaged individual(s) or in the case of any publicly owned business, at least 51 percent of the stock of which is owned by one or more socially and economically disadvantaged individual(s); and (b) whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individual(s) who own it. It is important to note that the business owners themselves must control the operations of the business. Absentee ownership or title ownership by an individual who does not take an active role in controlling the business is not consistent with eligibility as a DBE under CFR 49 Part 26.71.

  • Excluded Business has the meaning set forth in Section 6.10.

  • Specified Business means a business of a kind prescribed by the regulations to be a specified business; tenant, in relation to a lease, means the person who, under the lease, is or would be entitled to occupy the premises the subject of the lease; Tribunal means the State Administrative Tribunal;

  • Restricted Business has the meaning set forth in Section 6.7(a).

  • Consolidated Businesses means the General Partner, the Borrower and their wholly-owned Subsidiaries.

  • Businesses means, at any time, a collective reference to the businesses operated by the Borrower and its Subsidiaries at such time.

  • Parent Business shall have the meaning set forth in the Separation and Distribution Agreement.

  • Small disadvantaged business concern means a small business concern that represents, as part of its offer that—

  • Licensed Business means the activities connected with the conveyance of

  • Certified business means a business verified as a minority- or women-owned business enterprise pursuant to Section 314 of the Executive Law.

  • regulated business means a business which is required to be licensed under one or other of the regulatory laws;

  • Home-based business means an accessory use to an authorised residential use in which one or more residents carry on a business, and for greater certainty, includes a bed and breakfast, but does not include child care.