Section 355 and the suffering of closely held corporations will anyonehelp the little guy ? Matthew E. Rappaport
By: Rappaport, Matthew E
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Material type: 
ArticlePublisher: 2017Subject(s): IMPUESTOS | EMPRESAS PEQUEÑAS Y MEDIANAS | PRESION FISCAL | ESTADOS UNIDOS | SOCIEDADES
In:
Journal of Taxation of Investments v. 34, n. 4, Summer 2017, p. 31-46Summary: Ever since General Utilities repeal, the only way a corporation can distribute appreciated assets to shareholders on a taxdeferredbasis is a spin-off qualifying under Section 355 of the Code. The development of Section 355.sstatutory language and the corresponding administrative guidance has focused almostexclusively on large publicly traded corporations. Few commentators have addressed the detrimental effects the current Section355 regime has had on closely held corporations. As this article illustrates, the government.s single-mindedness about preventing abuse by giant companies has manifested to prevent smallbusinesses, especially those owned by family units, from taking necessary steps to optimize their organizational structure. But no reform is in sight to help these corporations use spin-offsand other divisive reorganizations to achieve congressionally approved objectives.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| IEF | OP 235/2017/34/4-3 (Browse shelf) | Available | OP 235/2017/34/4-3 |
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| OP 235/2017/34/3-3 Treasury's passive activity interest abuse of power | OP 235/2017/34/4-1 New regulations raise critical issues concerning a partner's share of liabilities and partnership disguised sales | OP 235/2017/34/4-2 Estate of McKelvey v. Commissioner | OP 235/2017/34/4-3 Section 355 and the suffering of closely held corporations | OP 235/2017/34/4-4 Securitization of our nation's forests | OP 235/2017/34/4-5 International investors and corporate taxation | OP 235/2017/34/4-6 Winners and losers in " Cosentino " cases |
Disponible también en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Conclusión.
Ever since General Utilities repeal, the only way a corporation can distribute appreciated assets to shareholders on a taxdeferredbasis is a spin-off qualifying under Section 355 of the Code. The development of Section 355.sstatutory language and the corresponding administrative guidance has focused almostexclusively on large publicly traded corporations. Few commentators have addressed the detrimental effects the current Section355 regime has had on closely held corporations. As this article illustrates, the government.s single-mindedness about preventing abuse by giant companies has manifested to prevent smallbusinesses, especially those owned by family units, from taking necessary steps to optimize their organizational structure. But no reform is in sight to help these corporations use spin-offsand other divisive reorganizations to achieve congressionally approved objectives.
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