Examlex
In 1998, Congress passed legislation concerning shifting the burden of proof to the IRS. The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS. What constitutes "credible evidence"?
Perpetual Life
The concept that a corporation continues to exist indefinitely unless it is legally dissolved, regardless of changes in ownership or management.
Successful Corporation
A business entity that consistently achieves its goals, which may include profitability, market share expansion, and sustainable growth.
Continuous
A term describing processes or functions that proceed without interruption or cessation.
Dividends in Arrears
Unpaid dividends on cumulative preferred stock that must be paid out before any dividends can be distributed to common stockholders.
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