Replies to post #19 on Luminent Mtg Cap Inc (fka LUMC)

[fastlizzy]

That's good to know! LOL

[up-down]

LUM taxed as a REIT

Posted by: madcow
In reply to: None Date:8/8/2007 9:15:28 AM
Post #of 123141

LUM reit tax status = 90% of it's income goes to share holders = no tax =
company has elected to be taxed as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax purposes, provided that it distributes at least 90% of its REIT taxable income to its shareholders. Luminent Mortgage was founded in 2003 and is headquartered in San Francisco, California.