Form Instructions 1120-S (Schedule K-1) Pearland Texas 2024-2025

Form Instructions 1120-S (Schedule K-1) Pearland Texas: What You Should Know

Shareholders 1. Share. (a) The share of any person that is issued under the plan at an issue price equal to or less than 100% of the issue price per share on the commencement date. This share shall be equal to the amount of the corporation's capital stock which is issued under the plan on the commencement date on May 25, 2019; provided. . . That none of the shares issued under the plan shall at any time be issued at an issue price equal to or less than 150% of the issue price on the commencement date. (b) Any person who purchased one or more shares on the commencement date for at least 100.00 (or at least 150.00 in the case of an exchange or conversion) and, on the commencement date, held the shares for more than 12 but less than 24 months shall be deemed to have purchased for the purpose of this paragraph the number of shares he or she acquired on the date of acquisition equal to the issue price of the shares he or she acquired on the commencement date. Any person who purchased one or more shares on the commencement date for at least 150.00 (or at least 200.00 in the case of an exchange or conversion) and, on the commencement date, held the shares for more than 24 months shall be deemed to have purchased for the purpose of this paragraph, the number of shares he or she acquired on the date of acquisition equal to the issue price of the shares he or she acquired on the commencement date. (d) The share of any person that is issued under the plan by either the corporation, any affiliated entity of the corporation, or any trust for which a distribution is required by section 408(n)(3)(B) of the Internal Revenue Code or a state income tax law shall be deemed to be an excluded property of the corporation (other than a share that is a capital asset). For purposes of this paragraph the term “excluded property” means property that is held by the corporation primarily for the purpose of meeting, or facilitating the meeting, its tax obligations. (e) Notwithstanding paragraphs (a) or (b), the shareholder shall be entitled to dividends on shares issued or exchanged under the plan that, at the time of issuance, are excluded property. The value of any shares of an excluded property shall be determined by the amount of such property's fair market value, as adjusted for depreciation purposes, on the commencement date.

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