Originally published July 2003
By Mark J. Silverman and Joseph M. Pari
TABLE OF CONTENTS
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Step Transaction and COBE issues Asset Transfers to Corporations Asset Transfers to Non-Controlled Corporations Continuity of Business Enterprise: Cross-Chain Transfers Continuity of Business Enterprise: COBE v. Step Transaction Rev. Rul. 2001-24 Rev. Rul. 2002-85 Rev. Rul. 2001-25 Rev. Rul. 2003-79 Rev. Rul. 2001-26 King Enterprises Transaction Rev. Rul. 2001-46 – Situation 1 Rev. Rul. 2001-46 – Situation 2 King Enterprises Transaction – Variation PLR 200141040 – King Enterprises Variation – D Reorganization Rev. Rul. 70-140 Rev. Rul. 70-140 (Variation) Rev. Rul. 2003-51 Rev. Rul. 2003-51 (Variation) Application of Rev. Rul. 70-140 to Facts of Rev. Rul. 2003-51 Merrill Lynch v. Commissioner |
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Intra-Group Asset and Stock Transactions Basic Structure Boot in a D Reorganization PLR 9739014 (June 26, 1997) Rev. Rul. 69-617 Rev. Rul. 69-617 (Variation) Rev. Rul. 69-617 & The New Bausch & Lomb Regulations Rev. Rul. 69-617 (Variation) & The New Bausch & Lomb Regulations |
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New Proposed Anti-Basis Shifting Regulations Current Basis Shifting Rule: Treas. Reg. 1.302-2(c) ex. 2 Current Basis Shifting Rule: Rev. Rul. 71-563 Notice 2001-45 New Proposed Anti-Basis Shifting Regulations Anti-Basis Shifting Rules: Prop. Treas. Reg. 1.302-5, example 1 Anti-Basis Shifting Rules: Prop. Treas. Reg. 1.302-5, example 3 Anti-Basis Shifting Rules: Prop. Treas. Reg. 1.304-2, example 2 Anti-Basis Shifting Rules: Cash Dividend v. Redemption/Dividend Anti-Basis Shifting Rules: Non-Consolidated Dividend Distributions Anti-Basis Shifting Rules: Consolidated Dividend Distributions Prop. Treas. Reg. 1.302-5 Current Basis Rule for Intercompany Mergers: Treas. Reg. § 1.1502-13(f)(7) example 3 New Anti-Basis Shifting Rules: Prop. Treas. Reg. § 1.1502-13(f)(7) example 3 Anti-Basis Shifting Rules: Consolidated Dividend Distributions Prop. Treas. Reg. § 1.302-5 & Prop. Treas. Reg. § 1.1502-13(f)(7) ex. 3--variation |
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Merger Transactions Involving Disregarded Entities Multiple Disregarded Entities Merger of Corporation Into Single-Member LLC. Sale of All of the Membership Interests Sale of Less than All of the Membership Interests Overlap Between Automatic and Elective Changes In Classification B Reorganization C Reorganization Merger Into LLC Merger Into LLC – Alternative 1 Merger Into LLC – Alternative 2 Merger Into LLC – Alternative 3 Merger Into LLC – Alternative 4 LLC Merger Into Corporation Temporary Section 368 Regulations Tax-Free Statutory Merger of Corporation into Disregarded Entity Temporary Section 368 Regulations Definition of Terms Temporary Section 368 Regulations Statutory Merger or Consolidation Generally Temporary Section 368 Regulations Statutory Merger or Consolidation Involving Disregarded Entities Temporary Section 368 Regulations Merger of Target into Disregarded Entity Temporary Section 368 Regulations Merger of Target and LLC into Separate Disregarded Entities Temporary Section 368 Regulations Merger Preceded by Distribution Temporary Section 368 Regulations Merger of Target into Transitory Disregarded Entity Temporary Section 368 Regulations Triangular Merger of Target into Disregarded Entity Temporary Section 368 Regulations Merger of Target into Disregarded Entity Owned by Partnership Temporary Section 368 Regulations Merger of Target with Subsidiary into Disregarded Entities Temporary Section 368 Regulations Merger of Corporation into Disregarded Entity in Exchange for Interests in the Disregarded Entity Temporary Section 368 Regulations Merger of Target S Corp. that owns a QSub into Disregarded Entity Temporary Section 368 Regulations Merger of Disregarded Entity into Corporation Temporary Section 368 Regulations Divisive Mergers Temporary Section 368 Regulations Definition of Statutory Merger or Consolidation Temporary Section 368 Regulations Mergers Involving U.S. v. Foreign Disregarded Entities Temporary Section 368 Regulations Merger of Target into U.S. LLC followed by Transfer of Assets to Foreign LLC Temporary Section 368 Regulations Merger of Target into U.S. LLC Wholly-Owned by Foreign LLC Temporary Section 368 Regulations Merger of Target into U.S. LLC Wholly-Owned by U.S. Sub |
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Loss Disallowance Rules LDR Background Reg. § 1.1502-32 Investment Adjustments LDR Background Investment Adjustments and the "Son of Mirrors" Transaction -- Variation 1 LDR Background Investment Adjustments and the "Son of Mirrors" Transaction -- Variation 2 "Duplicated Loss" Loss Disallowance Rules -- Background History of the Extremely Controversial Loss Disallowance Rules Rite Aid Corp. v. United States Rite Aid, Notice 2002-11 and Square D Rite Aid -- Analysis of Court of Appeals for Federal Circuit Consideration Should Be Given to Whether Any of the Following are Potentially Invalid Consolidated Return Regulations Under the Rite Aid Rationale Legislative Proposal to Limit Impact of Rite Aid IRS Response to Rite Aid -- Notice 2002-11 IRS Response to Rite Aid Temp. Reg. § 1.1502-20T Reg. § 1.337(d)-2 v. Reg. § 1.337(d)-2T v. Reg. § 1.1502-20 v. Reg. § 1.1502-20 "Lite" Reg. § 1.1502-20 v. Reg. § 1.1502-20 "Lite" v. Reg. § 1.337(d)-2T Temp. Reg. § 1.337(d)-2T Temp. Reg. § 1.337(d)-2T(b)(2): Tracing Example Temp. Reg. § 1.337(d)-2T Temp. Reg. § 1.337(d)-2T – Example 3 (Wasting Asset) Wasting Asset; Example Loss Reattribution -- Prior Periods Loss Reattribution -- Reg. § 1.1502-20 v. Reg. § 1.337(d)-2T Temp. Reg. § 1.337(d)-2T Considerations for Selling Consolidated Groups Temp. Reg. § 1.1502-20T Amending Waivers of Loss Carryovers after Election to Apply Reg. § 1.1502-20 "Lite" or Reg. 1.337(d)-2T Notice 2002-18 Paradigm Transaction at Which Notice 2002-18 is Aimed Preferred Stock Loss Generator Treas. Reg. § 1.1502-35T--Elimination of Duplicated.Losses Treas. Reg. § 1.1502-35T(b)--Basis Redetermination Rule in General Treas. Reg. § 1.1502-35T(b)(1)-- Basis Redetermination Rule if Subsidiary Remains Consolidated Treas. Reg. § 1.1502-35T--Basis Redetermination Rule Example-- No Deconsolidation Treas. Reg. § 1.1502-35T--Basis Redetermination Rule—Treatment of ELA Treas. Reg. § 1.1502-35T(b)(2)-- Basis Redetermination Rule if Subsidiary is Deconsolidated Treas. Reg. § 1.1502-35T--Basis Redetermination Rule Example-- Deconsolidation Treas. Reg. § 1.1502-35T(c)--Loss Suspension Rule in General Treas. Reg. § 1.1502-35T(c)-- Calculation of Duplicated Loss under Loss Suspension Rule Treas. Reg. § 1.1502-35T(c)--Treatment of Suspended Loss Treas. Reg. § 1.1502-35T(c)--Allowance of Suspended Loss Treas. Reg. § 1.1502-35T--Loss Suspension Rule Example Treas. Reg. § 1.1502-35T-- Basis Redetermination Rule and Loss Suspension Rule Examples Treas. Reg. § 1.1502-35T--Ordering Rules Treas. Reg. § 1.1502-35T(f)-- Worthlessness and Dispositions Not Followed by Separate Return Years Worthlessness and Temp. Reg. §1.1502-35T(f) Treas. Reg. § 1.1502-35T(g)--Anti-Avoidance Rules |
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Section 355 Rev. Proc. 2003-48--New Rules for Private Letter Rulings and Determination Letters under Section 355 Rev. Rul. 2003-79 Rev. Rul. 2003-52--Independent Business Purpose Under Treas. Reg. § 1.355-2(b) Rev. Rul. 2003-55--Independent Business Purpose Under Treas. Reg. § 1.355-2(b) Rev. Rul. 2003-74--Independent Business Purpose Under Treas. Reg. § 1.355-2(b) Rev. Rul. 2003-75--Independent Business Purpose Under Treas. Reg. § 1.355-2(b) Business Expansion Expansion Doctrine-General Expansion Doctrine-Examples Rev. Rul. 2003-18 Revenue Ruling 2003-38 Rev. Rul. 2003-18 v. Rev. Rul. 2003-38 Example 1: Direct Acquisition of T Assets by D Example 2: Acquisition of T Assets by D/Transitory Ownership Example 3: Acquisition of T Assets/Cause to be Directed Transfer Example 4: Acquisition of T Assets Directly by C Example 5: Expansion of Business through Stock Acquisition; Spin-Off of Newly Acquired Corporation Example 6: Indirect Expansion of D’s Business through Acquisition of T Stock Example 7: Acquisition of T Stock by D with Section 338(h)(10) Election Example 8: Acquisition of T Assets by Holding Company D Example 9: Acquisition of T Assets by Holding Company D Rev. Rul. 2002-1 Use of LLCs in Spin-Offs Distribution of LLC Interests as a Spin-Off Section 355 and the Use of Partnerships: Example 1 20% Managing General Partner (Rev. Rul. 92-17) Section 355 and the Use of Partnerships: Example 2 Managing Member in Limited Liability Company Section 355 and the Use of Partnerships: Example 3 Business Held Through Disregarded Entities Section 355 and the Use of Partnerships: Example 4 20% Managing General Partner Held Through SM LLC Section 355 and the Use of Partnerships: Example 5 1% Managing Partner and 19% Limited Partner Section 355 and the Use of Partnerships: Example 6 1% Managing General Partner Section 355 and the Use of Partnerships: Example 7 2% Partner; Affiliate Holds 18% and Management Section 355 and the Use of Partnerships: Example 8 50% Partner in General Partnership with Shared Management Section 355 and the Use of Partnerships: Example 9 40% Partner in General Partnership with Blocking Rights Section 355 and the Use of Partnerships: Example 10 Business Contributed to Partnership during 5 year Period Section 355 and the Use of Partnerships: Example 11 Section 355 Active Trade or Business Section 355 and the Use of Partnerships: Revenue Ruling 92-17: Variation Section 355 and the Use of Partnerships: Revenue Ruling 2002-49: Situation 1 Section 355 and the Use of Partnerships: Revenue Ruling 2002-49: Situation 2 Section 355 and the Use of Partnerships: Revenue Ruling 2002-49: Variation Recapitalization and Spin-Off: PLR 199935031 |
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Section 355(e) Section 355(e)--In General Section 355(e)--Basic Morris Trust Structure Section 355(e) Applies Section 355(e) Inapplicable Temporary Section 355(e) Regulations--In General Temporary Section 355(e) Regulations--Effective Date Temporary Section 355(e) Regulations--Super Safe Harbor Temporary Section 355(e) Regulations--Safe Harbors Temporary Section 355(e) Regulations--Factors (Plan v. Non-Plan) Temporary Section 355(e) Regulations--Operating Rules Temporary Section 355(e) Regulations--Definitions Temporary Section 355(e) Regulations--2001 Temp. Regs. v. 2002 Temp. Regs Temporary Section 355(e) Regulations--Super Safe Harbor & Safe Harbors I, III Temporary Section 355(e) Regulations--Safe Harbor II Temporary Section 355(e) Regulations--Safe Harbor IV Temporary Section 355(e) Regulations--Safe Harbor V — Public Trading Temporary Section 355(e) Regulations--Safe Harbor VI — Options Temporary Section 355(e) Regulations--Morris Trust Transaction Temporary Section 355(e) Regulations--Public Offering Temporary Section 355(e) Regulations--Hot Market Temporary Section 355(e) Regulations--Unexpected Opportunity Temporary Section 355(e) Regulations--Vote Shifting Transaction Temporary Section 355(e) Regulations--Smuckers Acquisition of Jif/Crisco Temporary Section 355(e) Regulations--Comcast Merger with AT&T Broadband Temporary Section 355(e) Regulations--Option Rules Temporary Section 355(e) Regulations--Similar Acquisition Temporary Section 355(e) Regulations--Similar Acquisition-- Ex. 7 of Old Prop. Regs Temporary Section 355(e) Regulations--Similar Acquisition -- Section 355(e) Transaction |
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