Who is a promoter?
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Who is a promoter?
You are a tax shelter promoter if, in the course of a business, you:
- sell, issue or promote the sale, issuance or acquisition of, the tax shelter;
- act as an agent or advisor for such activities; or
- accept consideration for the tax shelter, either as principal or agent.
There may be more than one promoter for the same tax shelter. In this case, there will be a principal promoter. You are a principal promoter if you have been involved in tax shelter sales, including this tax shelter, and you are the leader behind this promotion.
Note
Where there is more than one promoter of the same tax shelter, only one promoter has to apply for a tax shelter identification number. An application by one of the promoters will discharge the others from the obligation to make an application.
- Date modified:
- 2016-03-04