15-30-3702. Definitions.
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15-30-3702 . Definitions. As used in this part, the following definitions apply:
(a)"Capital stock" means voting or nonvoting common or preferred stock acquired as the result of employment or service as an employee or director with a corporation.
(b)The term does not include stock rights or debt securities.
(a)"Corporation" means a corporation, as defined in 15-30-2101 , including a unitary business, as described in 15-31-301 .
(b)The term includes a predecessor or successor corporation.
(c)The term does not include either a business entity or a business entity with a financial interest in another business entity that is directly or indirectly engaged in a business activity that is illegal under federal law, regardless of how the business entity is organized.
(3)"Net long-term capital gain" has the meaning provided in section 1222(7) of the Internal Revenue Code, 26 U.S.C. 1222(7).
(4)"Predecessor or successor corporation" means a corporation that was party to a reorganization that was entirely or substantially tax-free and that occurred during or after the employment of an individual claiming the rate under 15-30-3704 .