If your corp has the capital, you could get dividends from the corporation. SASAL, INC shares the case of our 100% capital share subsidiary.

Dividend

Steps to Decide the Dividend

1. Evaluate Financial Performance: The company assesses its financial performance, including net income, cash flow, and overall profitability. This evaluation helps determine how much profit is available for distribution.
2. Set Dividend Policy: The company establishes a dividend policy, which outlines the percentage of earnings to be distributed as dividends. This is known as the dividend payout ratio.
3. Board of Directors’ Proposal: The board of directors reviews the financial performance and dividend policy, then proposes a specific dividend amount. This proposal considers future investment needs and financial stability.
4. Shareholder Approval: The proposed dividend is presented to shareholders at the annual general meeting (AGM) for approval. Shareholders vote on the proposal, and if approved, the dividend is declared.
5. Dividend Payment: Once approved, the dividend is paid to shareholders on the designated payment date. Shareholders must own the stock by the ex-dividend date to be eligible for the dividend.

Dividend Calculation

The dividend per share (DPS) can be calculated using the following formula: $ \text{DPS} = \frac{\text{Total Dividends Paid}}{\text{Number of Outstanding Shares}} $

For example, if a company decides to pay a total of \$10 million in dividends and has 5 million outstanding shares, the DPS would be: $ \text{DPS} = \frac{10,000,000}{5,000,000} = \$2 \text{ per share} $

Types of Dividends

• Cash Dividends: The most common type, paid in cash to shareholders.
• Stock Dividends: Additional shares of the company’s stock are distributed instead of cash.
• Property Dividends: Non-cash assets, such as products or property, are distributed to shareholders.

Factors Influencing Dividend Decisions

• Profitability: Higher profits typically allow for higher dividends.
• Cash Flow: Adequate cash flow is necessary to support dividend payments.
• Growth Opportunities: Companies may retain earnings for reinvestment in growth opportunities.
• Debt Levels: High debt levels may limit the ability to pay dividends.
• Market Conditions: Economic and market conditions can influence dividend decisions.

Dividend Payout Ratio

Steps to Decide the Dividend Payout Ratio

1. Evaluate Financial Performance: Assess the company’s net income, cash flow, and overall profitability. This helps determine how much profit is available for distribution.
2. Set Dividend Policy: Establish a dividend policy that outlines the percentage of earnings to be distributed as dividends. This is known as the dividend payout ratio.
3. Consider Growth Opportunities: Evaluate future investment needs and growth opportunities. Companies may retain earnings for reinvestment in growth projects.
4. Review Debt Levels: Consider the company’s debt levels. High debt may limit the ability to pay dividends.
5. Analyze Market Conditions: Take into account economic and market conditions, which can influence dividend decisions.

Dividend Payout Ratio Calculation

The dividend payout ratio can be calculated using the following formula: $ \text{Dividend Payout Ratio} = \frac{\text{Dividends Paid}}{\text{Net Income}} \times 100 $

For example, if a company pays \$2 million in dividends and has a net income of \$10 million, the dividend payout ratio would be: $ \text{Dividend Payout Ratio} = \frac{2,000,000}{10,000,000} \times 100 = 20\% $

Factors Influencing the Dividend Payout Ratio

• Profitability: Higher profits typically allow for a higher payout ratio.
• Cash Flow: Adequate cash flow is necessary to support dividend payments.
• Growth Opportunities: Companies with significant growth opportunities may retain more earnings.
• Debt Levels: Companies with high debt may opt for a lower payout ratio to manage financial stability.
• Market Conditions: Economic and market conditions can impact the decision on the payout ratio.

Industry Standards

Dividend payout ratios can vary by industry. For example, utility companies often have higher payout ratios due to stable cash flows, while tech companies may have lower ratios as they reinvest earnings into growth[1].

[1]: Investopedia

References

[1] Dividend Payout Ratio Definition, Formula, and Calculation – Investopedia

Wholly owned subsidiaries

The tax treatment of dividends from wholly owned subsidiaries can vary depending on the jurisdiction, but here are some general principles:

Tax Treatment Overview

1. Dividends Received Deduction (DRD): In many jurisdictions, parent companies can benefit from a dividends received deduction, which allows them to exclude a portion or all of the dividends received from their taxable income. This is designed to avoid double taxation of the same income[1].
2. Tax Deferral: In some cases, dividends from foreign subsidiaries may be eligible for tax deferral until the profits are repatriated to the parent company[2].
3. No Withholding Tax: Often, dividends paid from a wholly owned subsidiary to its parent company are not subject to withholding tax, especially if both entities are within the same country[1].

Specific Considerations

• U.S. Tax Code: Under U.S. tax law, dividends received by a parent company from its wholly owned subsidiary can generally be excluded from taxable income if certain conditions are met. This is part of the dividends received deduction (DRD) provision[1].
• International Tax Treaties: Many countries have tax treaties that provide favorable tax treatment for intercompany dividends, reducing or eliminating withholding taxes[2].

Example

For instance, if a U.S. parent company receives dividends from its wholly owned U.S. subsidiary, it can typically exclude 100% of those dividends from its taxable income under the DRD provision[1].

[1]: IRS – Dividends Received Deduction [2]: ICAEW – Dividend from a subsidiary

References

[1] Intragroup transfers of U.S. subsidiaries triggering withholdable dividends

[2] E. FOR-PROFIT SUBSIDIARIES OF TAX-EXEMPT ORGANIZATIONS

Proprietary trading, often referred to as “prop trading,” involves financial institutions or commercial banks using their own capital to trade financial instruments like stocks, bonds, commodities, or currencies for direct market gain, rather than earning commissions by trading on behalf of clients[1].

Key Points About Prop Trading:

1. How It Works: Prop trading desks at financial institutions use the firm’s capital and balance sheet to conduct speculative trades. These trades can involve a variety of strategies, including arbitrage, fundamental analysis, and technical analysis[1].
2. Benefits:
   • Higher Profits: Institutions can realize 100% of the gains from their investments, unlike client trading which earns only commissions[1].
   • Inventory Stockpiling: Firms can build an inventory of securities, providing an advantage in illiquid markets[1].
   • Market Making: Prop trading allows institutions to provide liquidity and become influential market makers[1].
3. Risks: While prop trading can be highly profitable, it also involves significant risk due to the speculative nature of the trades[1].

Choosing a Prop Trading Firm:

If you’re considering joining a prop trading firm, it’s important to evaluate factors like funding speed, evaluation processes, profit sharing, and trading rules. Some of the top prop trading firms in 2025 include Apex Trader Funding, MyFundedFutures, and Trade the Pool[2].

Would you like more details on any specific aspect of prop trading or information about a particular firm?

References

[1] Proprietary Trading: What It Is, How It Works, Benefits – Investopedia

[2] 7 Best Prop Trading Firms in 2025 (That Actually Pay) – Benzinga

1. Log in to Your Binance Account:
   • Open the Binance app or visit the Binance website.
   • Enter your login credentials to access your account.
2. Get Your USDT Deposit Address from Binance:
   • Go to the “Wallet” section and select “Fiat and Spot.”
   • Search for USDT and click on “Deposit.”
   • Choose the appropriate network (ERC20, TRC20, or BEP20) based on your preference and the network supported by your SafePal wallet.
   • Copy the deposit address provided by Binance.
3. Open Your SafePal Wallet:
   • Launch the SafePal app on your device.
   • Unlock your wallet using your password or biometric authentication.
4. Initiate the Withdrawal from SafePal:
   • In the SafePal app, go to the “Assets” tab and select USDT.
   • Tap on “Send” to initiate a transfer.
   • Paste the Binance deposit address you copied earlier into the recipient address field.
   • Ensure you select the same network (ERC20, TRC20, or BEP20) that you chose on Binance to avoid any issues.
5. Enter the Amount and Confirm the Transaction:
   • Enter the amount of USDT you wish to transfer.
   • Review the transaction details, including the recipient address and the network.
   • Confirm the transaction by tapping “Send” or “Confirm.”
6. Wait for the Transaction to be Processed:
   • The transaction will be broadcasted to the blockchain network.
   • You can track the status of the transaction within the SafePal app under the transaction history section.
7. Check Your Binance Account:
   • Once the transaction is confirmed on the blockchain, the USDT will appear in your Binance account.
   • You can verify the deposit by checking your USDT balance in the “Fiat and Spot” section of your Binance wallet.

United States

1. Grants.gov: This is the primary resource for finding and applying for federal grants. It offers a wide range of funding opportunities for various purposes, including education, research, and community development.
2. U.S. Small Business Administration (SBA): They provide grants and loan programs for small businesses, such as the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL).
3. State-Specific Grants: Each state has its own grant programs. For example, New York offers grants and investment incentives for industries like hospitality, entertainment, and finance.
4. Private Company Grants: Companies like Facebook and Google also offer grant programs for small businesses.

Japan

1. IT Introduction Subsidy:
   • Purpose: Supports the introduction of IT tools to improve productivity and expand business.
   • Grant Amount: ¥50,000 to ¥4.5 million.
   • Subsidy Rate: 1/2 to 3/4.
   • Eligible Expenses: Software purchase costs, cloud usage fees, implementation-related costs, etc.
2. Small Business Sustainability Subsidy:
   • Purpose: Supports market development and operational efficiency.
   • Grant Amount: ¥500,000 to ¥2 million.
   • Subsidy Rate: 2/3.
   • Eligible Expenses: Advertising costs, website-related costs, exhibition participation fees, etc.
3. Manufacturing Subsidy:
   • Purpose: Supports the development of innovative products and services, and improvement of production processes.
   • Grant Amount: ¥1 million to ¥40 million.
   • Subsidy Rate: 1/2 to 2/3.
   • Eligible Expenses: Machinery costs, technology introduction costs, outsourcing costs, etc.
4. Business Restructuring Subsidy:
   • Purpose: Supports business transformation, entry into different industries, and business restructuring.
   • Grant Amount: ¥1 million to ¥150 million.
   • Subsidy Rate: 1/2 to 2/3.
   • Eligible Expenses: Building costs, machinery costs, system construction costs, etc.
5. Business Succession and Transfer Subsidy:
   • Purpose: Supports business succession and transfer.
   • Grant Amount: ¥500,000 to ¥5 million.
   • Subsidy Rate: 2/3.
   • Eligible Expenses: Costs associated with business succession, expert fees, etc.
6. Human Resources Development Support Subsidy (Foreign Workers Employment Environment Improvement Course).
   • The amount of the subsidy can vary depending on whether wage requirements are met, with a maximum of up to 720,000 yen available.
   • This subsidy aims to assist with the costs of improving the working environment for foreign workers and promoting their retention. Some of the initiatives covered include:
     • Appointing an employment labor manager
     • Translating internal regulations such as work rules into multiple languages
     • Establishing a grievance and consultation system
     • Creating a leave system for temporary returns to home countries
     • Translating company manuals and signage into multiple languages

This is the complete guide to being a CEO. If you are serious about becoming a CEO, you could pass this document in two days. After finishing the document, please go to the SASAL Business Bar.

What is Biz-Trip?

Biz-trip is the series SASAL made. It means an almost 2-day Self-study package. By following the process of this document, you could gain knowledge about being a CEO.

The Roadmap to be an owner CEO.

This document targets the person who wanna be a CEO. When you would like to be a CEO, or you need to create a new business as a representative of the company created in your corporation, please make use of this document. By reading this document, please try to create a New Business Model document; if you cannot do it yourself, please come to the SASAL Business Bar. SASAL employees and other attendees answer your question.

The process of becoming a CEO

Those are the processes of becoming a CEO. When you come to the SASAL Business Bar, you can consult the SASAL Employees.

1. Create the Business Plan
   • Decide the Business Model
   • Decide the Marketing Way
   • Contract with Accountant
2. Do sales & Earn Money
3. Quit the Salaryman
4. Establish the corporation & procedure
5. Hire the Person
6. Leave the Fieldwork

Biz-Trip Curriculum

New York Grant

1. New York State Small Business Seed Funding Grant Program

This program provides grant funding to early-stage small and micro businesses, as well as for-profit independent arts and cultural organizations impacted by the pandemic. Grants can be used for various business expenses, including payroll, rent, and utilities[1].

2. Global NY Fund Grant Program

This $35 million fund offers grants to small and medium-sized businesses in New York to help increase exports. Companies can receive up to $25,000, while nonprofits can receive up to $100,000[2].

3. Global NY State Trade Expansion Program (STEP)

In partnership with the U.S. Small Business Administration (SBA), this program provides financial grants to small and medium-sized businesses to increase competitiveness in the export market. Each selected company is eligible to receive up to $10,000 per funding period[2].

4. Empire State Development (ESD) Programs

ESD offers various programs and grants to support business growth in New York. These include funding for business expansion, innovation, and workforce development[3].

References

[1] New York State Small Business Seed Funding Grant Program One Stop …

[2] Small Business Grants in New York: 2024 Updated – Upmetrics

[3] Growth Support in New York | Empire State Development

https://grantsmanagement.ny.gov

https://www.nyc.gov/site/sbs/neighborhoods/grants.page

https://dec.ny.gov/get-involved/grant-applications

SASAL Case