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Business Organization Tax

Read Business Organization updates, alerts, news, and legal analysis from leading lawyers and law firms:

Not a Token Gesture: Compensating Service Providers with Virtual Property

by Morrison & Foerster LLP on

Questions surrounding the use of virtual currencies and other digital tokens (“tokens”) as compensation came to the forefront last month following formal guidance from the U.S. Securities and Exchange Commission (“SEC”) on...more

U.S. Withholding on Synthetic Trades over U.S. Equities—Further Delay of Full Implementation Until 2019 (Notice 2017-42)

In response to perceived abuses in taxpayers’ use of swaps and other derivative transactions (e.g., options, futures or forwards) to avoid withholding tax on U.S. source dividends, Congress added Section 871(m) to the...more

IRS Provides Guidance on Stock Distributions for Publicly Offered REITs and RICs

by Latham & Watkins LLP on

Revenue procedure sets forth requirements for ensuring certain stock distributions are treated as property distributions eligible for dividends paid deduction. On August 11, 2017, the Internal Revenue Service (IRS)...more

Loans to U.S. Subsidiaries Should Be Carefully Structured and Documented to Obtain U.S. Tax Benefits

by Dorsey & Whitney LLP on

Canadian companies should carefully structure and document loans and advances to their U.S. subsidiaries. If loans to U.S. subsidiaries are not properly structured and documented, such loans may be recharacterized as equity...more

AFRICA - A Legal Guide for Business Investment and Expansion: Tunisia

1. What role does the government of Tunisia play in approving and regulating foreign direct investment? The Tunisian government places a priority on attracting foreign direct investment. The Tunisian government...more

U.S. Tax Court Ruling Exempts Gain on Foreign Partner's Sale of a Partnership Interest

by Foley & Lardner LLP on

On July 13, 2017, the U.S. Tax Court issued a decision in Grecian Magnesite Mining, Industrial & Shipping Co., SA v. Commissioner, 149 T.C. No. 3, which could have a significant impact on how non-U.S. investors invest in U.S....more

Clues That There are Problems With A 401(k) Plan Provider

by Ary Rosenbaum on

When it comes to illnesses and diseases, there are usually warning signs out there. Whether you can come out healthy from a debilitating illness or disease is dependent on whether you can tell the warning signs. I’ve seen...more

Developments in the U.S. Tax Treatment of UK Charities

by DLA Piper on

The Internal Revenue Service has revoked the U.S. tax exempt status of 195 prominent UK charities by posting their names on a website. These UK charities will find it harder to attract support from U.S. individuals and...more

Ireland's Revenue releases guidelines on requesting Mutual Agreement Procedure assistance

by DLA Piper on

Ireland has published guidelines for requesting Mutual Agreement Procedure (MAP) assistance. The guidelines, issued in early August, set out the legal basis for requesting MAP assistance as well as...more

Tax Talk: Volume 10, Issue 2

by Morrison & Foerster LLP on

EDITOR’S NOTE - With the failure of health care legislation to “repeal and replace” the Affordable Care Act, eyes in Washington, D.C. are now turning to tax reform. Since Congress plans to take August off, any real tax...more

AFRICA - A Legal Guide for Business Investment and Expansion: Tanzania

1 .What role does the government of the United Republic of Tanzania play in approving and regulating foreign direct investment? The government plays an active role in approving and regulating foreign direct investment....more

New partnership audit rules can apply to partnerships, LLCs with only a few partners, members

by Thompson Coburn LLP on

Effective in 2018, changes in partnership audit rules may apply the following (and other) consequences to partnerships (including LLCs taxed as such)...more

Tax Court Holds that IRS Cancellation of Advance Pricing Agreement was Abuse of Discretion

by King & Spalding on

On July 26, 2017, the Tax Court issued its opinion in Eaton Corp. v. Commissioner, holding that the IRS’s cancellation of two advance pricing agreements (“APAs”) reached with Eaton Corporation (“Eaton”) was “arbitrary and...more

Grecian Magnesite Mining v. Commissioner: Foreign Investor Not Subject to US Tax on Sale of Partnership Interest

by McDermott Will & Emery on

In a long-awaited decision, the Tax Court recently held that gain realized by a foreign taxpayer on the sale of a partnership engaged in a US trade or business was a sale of a capital asset not subject to US tax, declining to...more

AFRICA - A Legal Guide for Business Investment and Expansion: South Africa

1 .What role does the government of South Africa play in approving and regulating foreign direct investment? South Africa is a constitutional democracy and an active member of the international investment community. It...more

Growing Concerns with Proposed Amendments Affecting Private Businesses and their Shareholders

by Bennett Jones LLP on

On July 18, 2017, Minister of Finance Bill Morneau announced sweeping changes to the way private businesses and their shareholders are taxed. The Government's proposals encompass three broad areas: (1) income sprinkling...more

Mistakes An Employer Should Avoid Starting A 401(k) Plan

by Ary Rosenbaum on

I’m a firm believer that you need to get off on the right foot if we start something new. Otherwise, you have tough time recovering. When I talk about getting off on the wrong foot, I always remember wanting to get involved...more

California Supreme Court Holds that Real Property Transfer Tax Can Apply to Transfers of Entities that Own California Real...

by Bryan Cave on

Under California law, there are two separate tax implications affecting California real estate transfers that result in a “change in ownership” of the real property - a property tax reassessment and a real property transfer...more

Luxembourg announces new IP tax regime

by DLA Piper on

Luxembourg has announced a new regime that offers a special tax incentive for certain income from intellectual property rights. The bill containing the new IP regime, which is expected to come into effect as of the 2018 tax...more

The Distinction Between Partnership Debt and Partnership Equity

by White & Case LLP on

Insights and strategies in a rapidly changing area for taxpayers who want to be characterized as partners for tax purposes but want an investment that economically is very close to debt. Much ink has been spilled on the...more

IRS Rejects Investors' Claim for Refined Coal Credits in Technical Advice

by King & Spalding on

In Technical Advice Memorandum 2017-29-020 (July 21, 2017) (the “TAM”), the IRS denied claims by two tax equity investors (the “Investors” or each an “Investor”) for renewable energy tax credits on grounds that the...more

Can Foreign Partners Now Exit Partnerships Tax Free?

by Bracewell LLP on

In Grecian Magnesite Mining v. Commissioner (“Grecian Magnesite”) the Tax Court held that a non-U.S. partner's gain from the redemption of its partnership interest was neither U.S. source income nor income effectively...more

China implements new tax and administrative measures to boost foreign investment

by DLA Piper on

The Standing Committee of the China State Council, in their meeting of 28 July, released a strong signal on the encouragement of foreign investment in China. The meeting resulted in several particular measures aiming to...more

Tips for Drafting Executive Employment Agreements – Tip #4 – Beware of 409A

by Bryan Cave on

This article continues with another tip for drafting executive employment agreements and the importance of consulting counsel. For every well drafted executive employment agreement in the business world, there seem to be...more

New Partnership Audit Regime Set to Take Effect in 2018, Proactive Planning Recommended

On November 2, 2015, Congress passed the new centralized partnership audit regime as part of the Bipartisan Budget Act of 2015 (BBA) which is set to take effect for the tax years beginning on or after January 1, 2018. The...more

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