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Polish Holding Company (PHC) is a solution introduced in 2022 that allows dividends and capital gains to be exempt from taxation. Starting from 1 January, 2023, the PHC formula became much more attractive.
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What Is a PHC's Adjusted Ordinary Gross Income? A PHC's general ordinary gross income when adjusted is the same as the corporation's gross income, with the following subtracted: Gains from Internal Revenue Code 1232(b). Specific interest income. Specific expenses that are allowed against royalty income.
A corporation may be subject to the PHC tax if at least 60% of its adjusted ordinary gross income for the tax year is PHC income. Use Part II to figure the amount of the corporation's PHC income. Then, complete line 6 of the Worksheet to determine if the corporation is a PHC.
1 wrz 2016 · Tax problems and administrative difficulties can arise if a corporation is classified as a personal holding company (PHC). Avoiding PHC status is important because: The income will be taxed at the regular corporate rate when it is earned by the corporation.
For a company to be classified as a PHC in 2024, it must meet two main criteria. First, at least 60% of its adjusted ordinary gross income for the tax year must be from passive sources, such as dividends, interest, rents (unless derived from a property management company), and royalties.
At least 60% of the corporation’s adjusted ordinary gross income consists of PHC income. At any time during the last half of the tax year, more than 50% of the value of the corporation’s outstanding stock is owned, directly or indirectly, by (or for) five or fewer individuals.
1 lip 2020 · The PHC tax is a 20% tax imposed for each tax year on a PHC's undistributed personal holding company income (UPHCI). A PHC is a corporation that is not an excluded corporation and meets (1) the stock ownership requirement and (2) the income requirement.
