Director's Rule 5-040

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Corporations, Massachusetts trusts

(1) Each separately organized corporation is a "person" within the meaning of the law, notwithstanding its affiliation with or relation to any other corporation through stock ownersb!p by a parent corporation or by the same group of individuals.

(2) Each corporation shall file a separate return and include therein the tax liability accruing to such corporation. This applies to each corporation in an affiliated group, as the law makes no provision for filing of consolidated returns by affiliated corporations or for the elimination of intercompany activities from the measure of tax.

(3) Each unincorporated association organized under the Massachusetts Trust Act of 1959 (Chapter 23.90 RCW) is likewise taxable in the same way as are separate corporations.

Effective: July 15, 2005

DIRECTOR'S CERTIFICATION
I Kenneth J. Nakatsu, Director of the Department of Executive Administration of the City of Seattle, do hereby certify under penalty of perjury of law, that the within and foregoing is a true and correct copy as adopted by the City of Seattle, Department of Executive Administration.