club_cafe: Distribution of Stock Sale
HelpRegister |
club_cafe: Distribution of Stock Sale You distribute the proceeds any way you want. What you will be doing is asking your members to make partial withdrawals. You can either ask for volunteers or you can take a club vote and allocate the withdrawals in any fashion that is consistent with your partnership agreement. You may find that it is better to transfer stock than to sell and recognize capital gains.
There is also a small "loophole" in the NJ Partnership Filing Fee calculation. Your club is subject to the filing fee if the quarterly average (3/31, 6/30, 9/30, 12/31) of its *cost basis* or *asset value* (whichever is less) exceeds $60,000. If your club's value increases due to stock price appreciation, you may still be able to avoid the fee.
Ira Smilovitz
In a message dated 1/6/2004 1:38:48 PM Eastern Standard Time, raypm@bivio.com writes:
Unless the NJ Partnership law changes it will become |
|