Amounts received by stockholders in connection with the special cash distribution will be taxable as a dividend to the extent of the Company's current or accumulated earnings and profits. Distributions in excess of such earnings and profits will be applied against and reduce a stockholder's tax basis in his, her or its shares of stock. Gain will be recognized as a result of a distribution to the extent that the aggregate value of the distribution received by a stockholder with respect to a share exceeds his, her or its tax basis for that share. Gain recognized by a stockholder will be capital gain provided the shares are held as capital assets, and will be long term capital gain if the stock has been held for more than one year. No loss will be recognized by a stockholder until such time as a stockholder disposes of his, her or its shares of stock.The tax consequences of the special cash distribution may vary depending upon the particular circumstances of the stockholder. The Company recommends that each stockholder consult his, her or its own tax advisor regarding the federal income tax consequences of the special cash distribution, as well as the state, local and foreign tax consequences.
Myrexis, Inc. Announces The Cancellation Of Its Upcoming Shareholder Meeting
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