Back to the Code: a reexamination of the continuity doctrines and other current issues in reorganizations

Article Abstract:

Issues surrounding IRC Section 368 tax-free reorganizations in the 1990s include the continuity of interest doctrine, the continuity of business enterprise requirement, the proposed triangular basis regulations, and the US Supreme Court's Clark decision determining the dividend equivalency of boot in acquisitive reorganizations. The doctrines on continuity of interest and business enterprise should be repealed, IRC Sections 357(b) and (c) made inapplicable to acquisitive reorganizations, and Section 356 amended in light of the Clark boot ruling.

Laws, regulations and rules

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Emerging doctrines in the tax treatment of environmental cleanup costs

Article Abstract:

There are three aspects of cleanup costs for pollution that are affected by tax policies, including the use of rules for economic performance and capitalization. The third aspect is when liabilities for cleanups are born by a company involved in an acquisition of assets. For such acquisitions, tax rules should not favor either the buyer or seller, and provide no incentives to retain or dispose of the liability.

Acquisitions and mergers, Liability for environmental damages

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Treatment of options and warrants in tax-free and taxable transactions

Article Abstract:

The IRS issued final regulations in 1998 under IRC sections 355 and 368 and proposed regulations in 1999 under section 1032 which provide guidance regarding corporate reorganizations, including the tax treatment of stock options and warrants. The regulations provide useful and reliable guidance which make the use of such instruments more attractive, and preferable in some situations.

United States, Tax Law, Public Finance Activities, Stock options, Recognition of gain or loss (Taxation), Recognized gain or loss (Taxation), Stock warrants

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