Section 355 is one of the few bright spots remaining for corporate tax planners since repeal of the General Utilities doctrine in the mid-1980s. However, the tax-free treatment of corporate spin-offs and other separations under Section 355 can be jeopardized by transactions or other events that occur after the separation has been completed.
In part one of this two part series, Sutherland tax attorneys Herbert N. Beller and William R. Pauls delve into the mechanics of Section 355 and examine the principal issues that arise in connection with post-spin developments.
Originally published in Corporate Taxation, November 2013.
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