separate entity
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 292 U.S. 435 - New Colonial Ice Co. v. Helvering · 1934Most cited · 5,631 citing opinions
As a general rule a corporation and its stockholders are deemed separate entities and this is true in respect of tax problems. Of course, the rule is subject to the qualification that the separate identity may be disregarded in exceptional situations where it otherwise would present an obstacle to the due protection or enforcement of public or private rights.