It is a company that has elected to pass on any losses it makes to its shareholders, who can offset the losses against their other personal income, effectively reducing their income for tax purposes.

• 在这一框架下，公司成立时选择将其任何亏损转嫁到公司股东，由股东将亏损与他们的其它收入相抵以达到减少纳税额的目的。