I-3, r. 1 - Regulation respecting the Taxation Act

Section 1086r89 Disposition versions

2012-09-01

1086R89. The corporation to which the first paragraph of section 1086R88 refers is a corporation whose assets as shown in its financial statements submitted to the shareholders or, where such financial statements have not been prepared, or have not been prepared in accordance with generally accepted accounting principles, that would be shown if such financial statements had been prepared in accordance with generally accepted accounting principles, for its preceding taxation year or, where the corporation is in its first fiscal period, at the beginning of its first fiscal period, are not less than $25,000,000.

Where the corporation referred to in the first paragraph is a cooperative, the first paragraph is to be read as if the reference therein to “submitted to the shareholders” were a reference to “submitted to the members”.

s. 1086R23.12.1; O.C. 1454-99, s. 60; O.C. 134-2009, s. 1.