The founder of the audio systems company Bose, Amar G. Bose, has donated the majority of the shares at the Massachusetts Institute of Technology (MIT). G. Love Bose did his doctorate in that center where he taught between 1956 and 2001. Makes donation to MIT in the main shareholder of the company, but his actions are subject to clear restrictions.
Not entitled to vote and do not give control over the management of the company. MIT can not sell to third parties. The benefit will be in receipt of dividends. MIT has announced it will allocate the donation to sustain and expand its educational and research tasks. The New York Times wonders about the taxation of this gift.
Being non-voting shares, income does not appear to be subject to taxes but do not exclude a future resale of the same to the company. The donor has not provided figures on the amount of the donation.
Not entitled to vote and do not give control over the management of the company. MIT can not sell to third parties. The benefit will be in receipt of dividends. MIT has announced it will allocate the donation to sustain and expand its educational and research tasks. The New York Times wonders about the taxation of this gift.
Being non-voting shares, income does not appear to be subject to taxes but do not exclude a future resale of the same to the company. The donor has not provided figures on the amount of the donation.
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