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Samples in periodicals archive:
Payment of the dividend is required by the US Internal Revenue Code in order for the fund to remain qualified as a regulated investment company for US federal income tax purposes, it said.
The Regulated Investment Company Modernization Act of 2010, updates federal tax code provisions affecting investment companies regulated by the SEC.
A regulated investment company (RIC) generally does not pay Federal income tax at the entity level.
Under this rule, continuity is adversely affected by pre-acquisition distributions made when (1) a regulated investment company (RIC) or real estate investment trust (REIT) acquires a corporation (which must distribute all non-RIC or non-REIT earnings and profits), (2) a C corporation acquires an S corporation (which commonly distributes its accumulated adjustments account (AAA)) or 0) there is an acquisition of a controlled foreign corporation (which commonly distributes its previously taxed income account on its subpart F income).
The final dividend is necessary to preserve Patriot Capital Funding's favorable regulated investment company tax treatment.
Beacon Hill is a provider of management and support services to the investment management industry and its regulated investment company products.
A third-party recordkeeper is defined as any (1) mutual savings bank, cooperative bank, domestic building and loan association, or other savings institution chartered and supervised as a savings and loan or similar association under Federal or state law, or bank or credit union, (2) consumer reporting agency, (3) person extending credit through the use of credit cards or similar devices, (4) broker, (5) attorney, (6) accountant, (7) barter exchange, (8) regulated investment company (RIC) and agent of such RIC when acting as an agent thereof and (9) enrolled agent.
Because of the Fund's concentration in MLP investments, the Fund is not eligible to elect to be treated as a regulated investment company under the Internal Revenue Code of 1986, as amended (the "Code").