The public and business community are anxious to learn which new auto dealership
will take over the site.
A few years later, the distributing corporation transferred all of the assets, as well as the building, and the liabilities of its first dealership
to a new corporation in exchange for that corporation's stock, and distributed the stock pro rata to its shareholders.
IN A DEALERSHIP
THE REVENUE "PIE" is divided along these lines: 50% to 60% of gross from new-car sales, 30% to 35% from used-car sales, and the rest from parts, service and the business office.
was having money and management problems and was forced to close its doors.
Norma Ross says she tried to create team spirit among all her employees and to promote opportunities for them to work closer together and help contribute to the dealership
TC Memo 1997-499, that commissions paid by automobile dealerships
to employees for selling credit insurance were currently deductible under Sec.
In the example above, the IRS position would require the dealership
to report $800 of income during the first year at the time of sale to the customer but to claim only the $600 as amortization deductions of $300 in the fourth year and $300 in the fifth year.