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Your client, Hamlin Industries, wants to reduce its overall state/local income tax liability. Hamlin holds income- producing assets of various types, including tangible personal property, rental land and buildings, and high-yield stocks and bonds. You assess the asset portfolio and conclude that only the investment portfolio is "portable" and available for relocation at this time. What device might Hamlin use in a restructuring of its operations to achieve the desired
tax result? Be specific.
Crime
An act or omission that violates a law which results in a legal penalty.
Tort
A wrongful act or infringement of a right leading to civil legal liability.
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Data related to an individual's medical history, treatment, diagnoses, and conditions, often protected by privacy laws.
Legislation
The process of making or enacting laws, or the body of laws that have been established by a governing authority.
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