S corporations - IRS rules that five year waiting period to re-elect S status not applicable

Article Abstract:

According to Internal Revenue Service's (IRS) rulings in Ltr. Rul. 200506007 the provision of Section 1362(g) requiring a 5 year wait for re-election as S Corporation after the termination of S corporation status is not applicable under certain conditions. The details of the rulings are presented.

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Merger of parent into disregarded LLC subsidiary of newly formed corporation treated as "F" reorganization

Article Abstract:

The implications of Ltr. Rul. 200510012 relating to restructuring of domestic corporation are discussed in the context of merger with a disregarded subsidiary of newly formed corporation. According the rule, such merger is to be treated as "F" reorganization.

Acquisitions & mergers, Corporations, Mergers, acquisitions and divestments, Company acquisition/merger

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Effect of certain transactions on QSub and entity classification election status

Article Abstract:

The termination conditions of QSub election of parent S corporation due to reorganization are discussed. According to The Internal Revenue Service the QSub election will not terminate when S corporation transform to F reorganization.

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