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These gains don't cause pain. A capital gain is the amount of money you pocket by selling one of your investments for more than you paid for it. Technically, capital gains only count for what's called a capital asset, but that's really just anything you own for investment purposes. Stocks and bonds obviously qualify, but your house and household furnishings can also count.
For tax purposes, capital gains are classified as either long-term (held for more than one year) or short-term (held for less than one year) and there are different tax implications for how long you hold onto a capital asset. For most long-term capital gains, you're taxed no more than 15% of the value of the asset. Short-term gains get taxed as regular income, so you pay the rate for the tax bracket you're in.
Capital gains can also be realized or unrealized. When you physically sell an asset like a stock, you've realized the capital gain. When you're holding the stock, and it has a value over its purchase price, but you're not selling it, you've got an unrealized gain, and you won't realize it until you sell.
In a perfect world, we'd all have capital gains. But no one¿s that smart or lucky. When the value of an asset at sale is below what you've paid for it, it's called a capital loss. The good news is that the government lets you count that loss against any gains you've had, lowering the taxes you pay. In fact, many people who sell a stock that has risen far over their purchase price tend to sell some stinkers, too, at the same time for the tax benefit. This is known as a capital-loss offset.
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Monday, July 07, 2008
Southridge Secures Additional Joint Venture Partner for Brazil Plant
Comtex
DALLAS, July 7, 2008 /PRNewswire-FirstCall via COMTEX/ ----Southridge Enterprises, Inc. (OTC Bulletin Board: SRDG; the "Company") today announced that it has secured an additional joint venture partner to construct and operate its ethanol facility in Brazil. Durmundo Carasca SA ("DCSA") has agreed to contribute $5,000,000 USD to the joint venture to earn a 15% interest in the Brazil facility and participate on a pro-rata basis in the start-up and operating costs of the plant.
"This additional alliance with DC in our Brazil facility will significantly reduce the timeframe to its completion and is a strong indication of the future viability of the operation," said Ken Milken, CEO of Southridge.
On March 12, 2008, we entered into a joint venture agreement with Briskul Transaccao LTDA to construct and operate an ethanol facility in Brazil. The joint venture operates as Southridge Brasilia Corp. ("SBC"). The Company's initial membership interest in SBC, according to the agreement, would be 75% and Briskul Transaccao LTDA initial membership interest would be 25%. According to the agreement, Briskul Transaccao LTDA has the right to secure an additional 10% membership interest through additional capital contributions made before the mechanical completion of the facility. We provided an initial contribution of $1,500,000 against an anticipated total contribution of $24,525,000 USD. Briskul Transaccao LTDA initial contribution to the joint venture was to be $8,175,000 USD, which was 25% of the anticipated cost of the construction ($32,700,000 USD). In the event Briskul Transaccao LTDA was unable to make its initial contribution, the Company had agreed to advance Briskul Transaccao LTDA up to $3,000,000 USD towards its initial contribution in the form of a senior subordinated debenture, which would bear interest at the rate of 9% per year. SBC is a development stage entity and is responsible for securing the financing necessary to complete the plant as well as oversee its design and construction. The initial assets of the joint venture totalled $6,130,318, which consisted of cash, land and construction in progress. As of April 01, 2008, Southridge had made contributions to SBC of $1,500,000 and Briskul Transaccao LTDA had contributed $4,630,318. DCSA has recently contributed $2,500,000 to the joint venture.
About Southridge Enterprises, Inc.
Southridge Enterprises is a renewable energy company with a mission to become the ethanol producer of choice in the southeastern region of the United States. The Company is focusing its efforts in an area which offers abundant supplies of corn, superior transportation infrastructure and expedited permitting processes. The Company is actively acquiring and developing ethanol production facilities and anticipates start-up of the first phase of these operations in 2009. Southridge Enterprises is headquartered in Dallas, Texas. For more information, please visit our website: http://www.southridgeethanol.com.
Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, successfully equipping the Quitman County plant for the production of ethanol, and the start-up of production of in 2009, if at all.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early stage company in the alternative energy industry, its products, and the entry into new markets for such products. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's current and periodic reports filed from time to time with the Securities and Exchange Commission.
Southridge Enterprises, Inc.
Brian Thurman, 888-862-2192, ext. 3
http://www.southridgeethanol.com
SOURCE Southridge Enterprises, Inc.
http://www.southridgeethanol.com
Copyright (C) 2008 PR Newswire. All rights reserved
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