Yes, I have not received any notice of rule changes since the 2008 law. The company was required to provide a cost basis to the TA when they issued the stock. The issuer is required to submit the tax forms for each distribution to the shareholders.
Since Parilla noted on the financials $64 million in valuation, will he provide the accurate numbers to the IRS. If not, the IRS does not take lightly companies defrauding the IRS.
Shareholders will have to report the distribution as income based on the cost basis to the shareholder on the measured date, selling the stock or not will not change the declared income for the taxable year. If a shareholder receives $50,000 in stock in 2014 and sells it in 2015 for $10,000, how many years will the taxpayer have to offset $40,000 in capital losses against $50,000 in income.
The asset distribution to the shareholders will most likely cost more in taxes to the shareholders than the asset is worth.
So, who will Parilla lie to? The SEC or the IRS?
Market Data 
Markets 
AI
