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RIC |
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A QSB is any domestic C corporation other than a domestic international sales corporation (DISC) or former DISC, a regulated investment company (RIC), a real estate investment trust, a real estate mortgage investment conduit, a cooperative, or a corporation that has elected the Puerto Rico possession tax credit under Sec. Briefly, it states that "California 'Listed Transactions' include all federal Listed Transactions," and it lists two "other" California Listed Transactions: (1) Certain Real Estate Investment Trust (REIT) Transactions and (2) Certain Regulated Investment Company (RIC) Transactions. The amount of dividends qualifying for the reduced rates that may be paid by a regulated investment company or real estate investment trust, for any tax year that the total qualifying dividends received by the RIC or REIT are less than 95 percent of its gross income (as specially computed), may not exceed the amount of the total qualifying dividends received by the RIG or REIT. |
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