Achatz/Aigner/Kofler/Tumpel

Internationale Umgründungen

Gesellschafts- und steuerrechtliche Grundlagen. Querschnittsfragen. Aktuelle Entwicklungen

1. Aufl. 2005

ISBN: 978-3-7073-0736-1

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Internationale Umgründungen (1. Auflage)

S. 395Reorganizations in US Tax Law

Herbert Buzanich
Georg Kofler
Ruth Mason

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I.	Introduction
II.	Corporate Organizations under § 351 IRC
	A.	Basic Policies Behind Nonrecognition under § 351 IRC
	B.	Statutory Framework of § 351 IRC
	C.	The Statutory Requirements for Nonrecognition under § 351 IRC
		1.	Exchange Solely for Stock
		2.	Qualifying Property and Assumption of Liabilities
		3.	Control of the Transferee Corporation
	D.	Tax Consequences: Basis for Transferor and Transferee
		1.	Transferor’s Basis in Stock and “Boot” (§ 358 IRC)
		2.	Transferee’s Basis in Property Received (§ 362 IRC)
	E.	Summary
III.	Corporate Reorganizations under § 368 IRC
	A.	Basic Policies Behind Nonrecognition under § 368 IRC
	B.	Acquisitive Reorganizations
		1.	General Prerequisites and Judicial Doctrines
		2.	Statutory Mergers and Consolidations: “A” Reorganizations
		3.	Acquisitions of Stock Solely for Voting Stock: “B” Reorganizations
		4.	Acquisitions of Assets for Voting Stock: “C” Reorganizations
		5.	Transfers to Controlled Corporations: Nondivisive “D” Reorganization
		6.	Excursus: “Forward” and “Reverse” Triangular Mergers
		7.	Tax Treatment of the Involved Taxpayers in Acquisitive Reorganizations
	C.	Divisive Reorganizations
S. 396		1.	Types of Corporate Divisions: Spin-off, Split-off and Split-up
		2.	Judicial Doctrines
		3.	Statutory Requirements and Limitations
		4.	Tax Treatment of the Taxpayers: An Overview
IV.	Summary

S. 397I. Introduction

One of the fundamental principles of US tax law is that unrealized appreciation in the value of property should be taxed only when the property is sold or otherwise transferred. Thus, under US tax law, gain or loss must be recognized on the sale or exchange of property unless a specifically applicable provision of the Internal Revenue Code (IRC) permits or requires otherwise (§§ 61(a)(3) and 1001 IRC). However, if an exception is available, the normal rules of immediate recognition and imposition of a tax on gain or allowance of loss are inapplicable.

Such exceptions include the transfers of property to a controlled corporation in exchange for its stock (§ 351 IRC), exchanges of stock or securities if the transaction qualifies as a reorganization ...

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Internationale Umgründungen

S. 395Reorganizations in US Tax Law

S. 397I. Introduction

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