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Abstract

The trading of various securities is subject to market rules. However, when securities trading is completed within a business entity, the entity is subject to tax limitations and restrictions. The tax benefits cannot be the dominant purpose for the entity structure; economic substance including profit motive and business purpose for each transaction must be able to be shown.

The trading of investment securities must be housed in the right entity to gain the best economic results as well as to minimize the tax burden. The entity selection process must first consider the characteristics and nature of the securities (e.g., currencies, options, derivatives) trading. Then, the tax prohibitions of each entity must be reviewed in an effort to describe what will qualify and will not be abusive under the tax rules. A team of investment professionals and tax professionals must be involved in the final entity decision.

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