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Legal Terms - close company
a business managed by its directors or by five or fewer shareholders. *Loan creditors may be among the participants who possess or are entitled to get a stake or interest in the capital or income of the company. Transactions between close corporations and their participators are subject to special tax rules.
a business managed by its directors or by five or fewer shareholders. *Loan creditors may be among the participants who possess or are entitled to get a stake or interest in the capital or income of the company. Transactions between close corporations and their participators are subject to special tax rules.
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