closed corporation

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closed corporation

n.
A corporation in which the shares of stock are held by relatively few persons and are not publicly traded. Also called close corporation.

closed corporation

n
(Commerce) US a corporation the stock of which is owned by a small number of persons and is rarely traded on the open market. Also: close corporation

closed′ corpora′tion


n.
an incorporated business owned by a few individuals who seldom sell their stock and so retain control.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.closed corporation - a corporation owned by a few people; shares have no public market
corp, corporation - a business firm whose articles of incorporation have been approved in some state
family business - a corporation that is entirely owned by the members of a single family
References in periodicals archive ?
5th 207, [section]2[a] (2003) (commenting closely held corporations impute heightened fiduciary duties similar on majority shareholders).
One of the most consistently challenged areas of incurred cost audits for closely held corporations has been that of executive compensation.
Jones's practice focuses on general corporate and finance matters, with an emphasis on serving as Bond counsel and Underwriter's counsel to numerous state and municipal issuers; financing transactions, including securitization transations, secured and unsecured debt facilities and commercial lending transactions; corporate formation matters including shareholder control, buy-sell arrangements and mergers of closely held corporations; mergers and acquisitions, representing on both the buy side and the sell side of asset purchases and stock purchases; and non-profit association matters including formation, tax-exempt status, and solicitation licensing.
Employer contributions to QTPs may be attractive for closely held corporations. First, they may provide a way to deal with excessive compensation issues, as long as fringe benefits are treated differently from salary and wages.
The closest the authors come to providing the detail needed for further investigation is a statement that the relevant statutes do exist: "Every state has statutes enabling the incorporation of a business within its jurisdiction." This pattern is repeated in the section on closely held corporation statutes: "A minority of states have adopted special provisions in their corporate statutes dealing with closely held corporations." Instead, the authors provide a warning but no guidance: "Financial services professionals should be aware that the laws of the state control the formalities of incorporating and operating a professional or closely held corporation."
In this seminar, participants will learn how to prepare proper valuations of partnership interest including family limited partnerships, closely held corporations and concurrent ownerships including tenancy in common and joint tenancy.
The rules also apply to closely held corporations, but with some differences.
It is common practice for closely held corporations, those corporations whose shares are held by a single shareholder or a closely knit group of shareholders, to repurchase their stock upon the death or retirement of a principal shareholder.
Businesses and particularly closely held corporations, were beginning to feel the pinch of the Tax Reform Act of 1986.
In many jurisdictions today, the shareholder oppression doctrine helps to protect minority shareholders in closely held corporations from the improper exercise of majority control.
Justice Samuel Alito, writing for the court's majority, said protecting the religious rights of closely held corporations, which are often small, family-run businesses, ''protects the religious liberty of the humans who own and control them.''