I-3 - Taxation Act

Section 1029.8.36.161 Disposition versions

2010-10-27

1029.8.36.161. (Repealed).

2002, c. 40, s. 209; 2010, c. 25, s. 170.

2006-03-01

1029.8.36.161. For the purposes of the first paragraph of section 1029.8.36.159, where a corporation is a member of an associated group in a particular taxation year, the following rules apply:

(a)  the corporation’s assets applicable to the particular year are equal to the amount by which the total of the assets, otherwise determined for the purposes of this division, and the aggregate of all amounts each of which is the assets of another member of the group applicable to its taxation year that ends in the particular year, exceeds the total of the amount of investments the members of the group own in each other and the balance of inter-corporate accounts; and

(b)  the corporation’s market capitalization applicable to the particular year is equal to the amount by which the total of the market capitalization, otherwise determined for the purposes of this division, and the aggregate of all amounts each of which is the market capitalization of another member of the group applicable to its taxation year that ends in the particular year, exceeds the aggregate of all amounts each of which is the portion of the market capitalization of a member of the group that relates to shares of the capital stock of that member of the group that are owned by one or more other members.

The assets, or the market capitalization, of a member of the associated group applicable to its taxation year that ends in the particular year, are determined in accordance with the second or third paragraph of section 1029.8.36.159, as the case may be.

2002, c. 40, s. 209.