Is the stock split a taxable transaction?
No. The receipt of these additional shares will not result in taxable income under existing U.S. tax law. The tax basis of each share owned after the split will be half of what it was before the split. When you sell the shares received in the split, or any other shares owned as of the split record date, you must adjust your cost basis to properly reflect the split to determine your gain or loss. You should consult with your tax advisor with any questions you have about calculating your cost basis or any state or foreign tax consequences.
