Why does the state still stand:
E. ALLEN SMITH
EALLENSMITH at ocelot.Rutgers.EDU
Fri May 17 13:21:38 PDT 1996
From: IN%"unicorn at schloss.li" "Black Unicorn" 15-MAY-1996 18:59:01.44
>For these a company running at a constant net operating loss could be
>formed to purchase cars for resale (funny how no one ever buys them) and
>manage property (which no one seems to ever lease).
But won't such a company run into tax problems? In other words, the
IRS is going to look with some suspicion on a company that keeps showing no
profits (and thus no taxes) but keeps going anyway. They're going to think that
the owners are making a profit anyway but concealing it - which is the case.
I'm not sure how to handle this one, other than not owning major property
(rental et al).
-Allen
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