Corporations/Corporations - Property to be valued are business assets contributed to limited partnership not LP units

Article Abstract:

TAM has relied on Pope & Talbot, Inc., 104 TC 574(1995), aff'd 162 F.3d 1236 (CA-8, 1999) case, while giving its ruling in case 200443032. The court said that for arriving at gain under Section 311(b), where a corporation distributes appreciated property, it must show gain to the extent of the fair market value of the property as if the property was sold to its distributee.

Sawmills and Planing Mills, Pope and Talbot Inc., POP, Lumber industry, Property

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S corporations - Filing of bankruptcy petition does not terminate corporation's S election

Article Abstract:

The filing of a bankruptcy petition by an S corporation and the appointment of a bankruptcy trustee does not amount to termination of the corporation's status as an S corporation. This was the ruling given by the First Circuit court while upholding the Bankruptcy's Court's decision in the Mourad, 387 F.3d 27 (CA-1, 2004) case.

Organizational history, Company restructuring/company reorganization, Reorganization and restructuring, S corporations, Company organization

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Kimbel & section 2036

Article Abstract:

The case Kimbell 93 AFTR 2d 2004-2400 (CA-5, 5/20/04), which involved estate and asset transfer of Mrs.Ruth A. Kimbell under section 2036 (a) is explained in detail. The decision on this living trust of Mrs. Kimbell by The United States Court is a big victory for all closely held family businesses.

Family-owned business enterprises, Family-owned businesses, Living trusts, Estates (Law), Family corporations, Kimbell, Ruth A.

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