logo

Week 4 Agenda

Special Problems C Corps
• Controlled groups
• Personal service corporations
• Accumulated earnings tax
• Personal holding company tax
• Stock redemptions
• Liquidation of the corporation
• Liquidation of a subsidiary
• Loss recognition limitations

Buying & Selling Corporations

• Taxable acquisitions: sale of
   assets vs. sale of stock
• Deemed asset purchase – §338
• Purchase price allocations
• Mergers and acquisitions
• Spin-offs, split-offs, split-ups
• Section 382 loss limitations

Choice of Entity Considerations
• Carryover of tax attributes
• Limitations on NOLs & BILs
• P'ships,  LLCs, S and C corps
• Advantages and disadvantages

Advanced Flow-Thru Entities
• Advanced debt Issues
• Partnership terminations, mergers
   and divisions
• S Corporation penalty taxes

Consolidated Tax Returns
• Affiliated groups defined
• Eligibility requirements
• Intercompany transactions
• NOLs and the SRLY limitations
• Consolidated Section 382
• Investment adjustments accounts