As a general rule, when a corporation liquidates and distributes its assets, any gain is subject to tax paid by both the corporation and the shareholder.

In Toronto and Ottawa, municipal corporations distribute power to homes and businesses.

Therefore, the argument goes, record low dividends simply reflect a shift in how corporations distribute their earnings - hardly a bearish development.

The corporation also distributes and promotes these products.

For example, assume a corporation earns profits of 100 before interest expense and would normally distribute 50 to shareholders.

The purpose was to stimulate corporations to distribute earnings and thus put more cash and spending power in the hands of individuals.

Based on Internet technology, intranets permit corporations to distribute information more efficiently to employees and to build corporatewide messaging and conferencing systems.

But after the corporation pays its taxes and distributes the remaining profits to its shareholders in dividends, the profits should not be taxed again.

The corporation is also distributing a video version of the proposals to libraries.

Under current law, if a corporation liquidates and distributes its assets, both the corporation and its shareholders may be subject to tax on any gain realized.