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Tax Shelter your corporate profits thru the acquisition of our subsidiary. If your firm can benefit from $13,000,000 US in accumulated losses, our holding company would like to sell our electronic manufacturing ( of modems and communications equipment) US subsidiary. This subsidiary was recently shut down and it's now a clean shell with no obligations or liabilities whatsoever. Please refer to: http://www.globaldata.com A description of the expiry schedule for the tax losses as detailed in our annual report filed recently for June 30, 2003. The Corporation has accumulated tax losses as at June 30, 2003 of approximately $4.3 million that may be applied to reduce Canadian taxable income in future periods. These losses expire between fiscal 2006 and 2010. The Corporation also has undepreciated capital costs, for tax purposes, in excess of the net book value of equipment, aggregating approximately $0.4 million. The Corporation has two wholly owned United States subsidiaries. One of the subsidiaries has accumulated U.S. federal tax losses of approximately $13 million, which may be applied to reduce future U.S. federal taxable income earned by this subsidiary. These losses expire from 2009 to 2021. The other subsidiary has accumulated U.S. federal tax losses of approximately $3.0 million that begin to expire in 2020. No recognition has been given to the potential tax benefit of such losses in the consolidated financial statements. Our asking price is best offer over $225,000. Upon request, I can email the current financial statements. sincerely F.Micacchi Toronto 416-961-0018
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