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Simple English definitions for legal terms

personal holding company

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A quick definition of personal holding company:

A personal holding company is a type of company that owns stocks in other companies and makes money from things like rent, interest, and dividends. It usually has only a few owners and has to pay special taxes. It's like a piggy bank that collects money from other piggy banks.

A more thorough explanation:

A personal holding company is a type of holding company that is subject to special taxes and usually has a limited number of shareholders. Most of its revenue comes from passive income such as dividends, interest, rent, and royalties.

For example, if John owns a holding company that only invests in stocks and earns most of its income from dividends, it may be considered a personal holding company. The company would be subject to additional taxes and regulations because of its status as a personal holding company.

This type of company is different from a diversified holding company, which controls several unrelated companies or businesses, or a parent company, which owns and controls other companies.

personal history | personal-holding-company tax

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i heard the group interview is really chill and I'm kinda excited to do it
seems cool
13:14
Yeah, 7sage has a page that talks about the questions for each schools interview, GULC's seems unique
13:15
Idk how much of an effect it has on admissions chances but should be cool either way
ive heard the conversion rate for gulc group interview is pretty high even moreso if you have the stats
it's hard to say but i've also heard that the group interview is harder to get than the alumni interview. but who really knows tbh
im p sure they don't interview everyone and getting one this early should be a great sign!
13:16
Yeah I've heard the same ab the group interview
13:17
So maybe I'll see you in D.C. a year from now lmao
initiallaw
13:32
Speaking of stat twins kazuyamishima were exact stat twins lol
17:13
Anyone going to the UGA zoom thing on the 22nd?
17:16
My bad, 24th*
Idk, what's it for?
@Law-Guy: How'd you get the Vandy fee waiver?
17:32
What does going ur3 in 3 days mean at Uva 😅
that you will get UR2 in 3 more
17:33
somethings gotta give
I’m new. What’s the UR and UR2?
17:35
I already went ur2. It’s the 3rd status date change
17:35
@RustyWrangler: attend one of their virtual info sessions and they'll send you a fee waiver
@Law-Guy: Awesome, thanks! I'll sign up rn!
i'm not entirely sure
They've recently been sending a lot of interview invites
It means status change?
17:47
Someone said there is a wl/r wave coming but how can that even be predicted 😭
17:48
Where?
Quillinit
17:50
This is obviously not true for UVA. Past years show they don't send any non A results until December
boglue
18:05
this is gonna sound so dumb but what do yall mean when you say date change
18:07
So the date under “application under review” changes with each reader.
boglue
18:08
does anything automatically update on the lsd checker or is that all manual
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