Guidelines issued on spinning off controlled corps
Article Abstract:
Parent corporations that wish to retain ownership or buy back the stocks of their subsidiaries should seek the approval of the IRS. Granting of permission for retained stock transactions will be based on the compliance of corporations with the information and factual requirements specified in Rev Proc 91-62. Information requirements include the purpose of the stock retention and the amount of shares retained by the parent company. Factual conditions include the adequacy of the business reason for keeping the stocks and disposition of the held stock not later than five years after the creation of the subsidiary. Corporations intending to repurchase stocks must meet the following requirements: the business reason for the purchase is sufficient, the stock to be acquired is widely held, the stock is acquired in the open market, and the total stock acquired does not exceed 20% of the subsidiary's outstanding stock.
Publication Name: Taxation for Accountants
Subject: Business
ISSN: 0040-0165
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
RJR Nabisco securities: 1991 tax issues
Article Abstract:
Exchanges of RJR Nabisco debentures occurred in Nov 1990 and Mar 1991. One of the debenture issues of RJR Nabisco Inc stock was redeemed, and most of the preferred stock was exchanged for common stock in 1991. These transactions had tax consequences in terms of the tax basis computation, the tax effect of the original issue debentures and the tax effects of the debentures that were acquired after the merger of RJR Nabisco and the companies operated by Kohlberg Kravis Roberts and Co.
Publication Name: Taxes: The Tax Magazine
Subject: Business
ISSN: 0040-0181
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
RUMA issues sheep and cattle guidelines
Article Abstract:
The Responsible Use of Medicines in Agriculture (RUMA), the UK farming industry advisory body has introduced guidelines on the use of antimicrobials in cattle and sheep.
Publication Name: Animal Pharm
Subject: Business
ISSN: 0262-2238
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A guide for obtaining a competitive edge (bander). An executive guide to EC-92 information sources. The Manager's Guide to Negotiating
- Abstracts: Poll tax rebilling chaos hits Scots. Warning to councils on Euro competition rules
- Abstracts: Clinton's eyes and Bush's tales. IT companies cast acquisitive eyes. Up to its eyes in debt
- Abstracts: Lack of a coherent policy. An overview of SSP policy issues
- Abstracts: The relation between accounting goodwill numbers and equity values. Decentralization, management accounting system (MAS) information characteristics and their interaction effects on managerial performance: a Singapore study