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The "Killer B" strategy is a tax-avoidance strategy that reduces a firm's taxes owed on the repatriation of foreign cash used in the acquisition of another firm through the classification of an acquisition as a reorganization provided by Section 368(a)(1)(B) of the Internal Revenue Code.
Under Internal Revenue Code section 368(a)(1)(A), this transaction could be largely tax-free if the former subsidiary is considered the "buyer" of the target company. The former subsidiary is the "buyer" if its shareholders (also the original parent company's shareholders) own more than 50% of the merged company.
The landmark case that has been used to determine active trade or business requirement is Estate of Lockwood v. Commissioner, 350 F.2d 712. Other relevant sources are Revenue Ruling 2003-38, which entails whether an expansion of a corporation's business constitutes a new or continuing business under Reg. 1.355-3(b)(3)(ii).
In United States business law, a forward-looking statement or safe harbor statement is a statement that cannot sustain itself as merely a historical fact. A forward-looking statement predicts, projects, or uses future events as expectations or possibilities. These statements can often be misleading, as they can be mistaken for factual ...
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
Reorganization Plan No. 3 was a United States presidential directive establishing the Environmental Protection Agency (EPA), effective December 2, 1970. [1] The order, published in the Federal Register on October 6, 1970, consolidated components from different federal agencies to form the EPA, "a strong, independent agency " that would ...
The USAF's last major reorganization of commands was in 1992. In July 2006, the Air Force Network Operations (AFNETOPS) command was stood up at Barksdale Air Force Base. At the time, it was anticipated that it would be transformed into a new MAJCOM: the Air Force Cyber Command. [2]
Gray v. Sanders, 372 U.S. 368 (1963), was a Supreme Court of the United States case dealing with equal representation in regard to the American election system and formulated the famous "one person, one vote" standard applied in this case for "counting votes in a Democratic primary election for the nomination of a United States Senator and statewide officers — which was practically ...