Download 1123025.pdf

Contents : Internal Revenue Service Department of the Treasury Number: 201123025 Release Date: 6/10/2011 Third Party Communication: None Date of Communication: Not Applicable Index Numbers: 368.04-00 355.01-00 ------------------------------------------------------------------------------------------------------------------------------------ Washington DC 20224 Person To Contact: --------------------- ID No. ------------Telephone Number: --------------------Refer Reply To: CC:CORP:B04 PLR-151532-10 Date: March 02 2011 LEGEND Parent --------------------------------------------------------------------------------------------------------------------------------------- Entity 1 ------------------------------------------------------------------------------------------------------------------------------------------------------------- Distributing -------------------------------------------------------------------------------------------------------------------------------Controlled --------------------------------------------------------------------------------------------------------------------------------------------------Sub 1 -----------------------------------------------------------------------------------------------------------------------------------------------------Sub 2 --------------------------------------------------------------------------------------------------------------------------------------------------------------- 2 Sub 3 -----------------------------------------------------------------------------------------------------------------------------------Sub 4 --------------------------------------------------------------------------------------------------------------------------------------------------------Sub 5 ------------------------------------------------------------------------------------------------------------Sub 6 ---------------------------------------------------------------------------------------------------------------Sub 7 -----------------------------------------------------------------------------------------------------------------------------------------------------Sub 8 --------------------------------------------------------------------------------------------------------------------------------------------------LLC 1 ----------------------------------------------------------------------------------------------------------------------------------------------------------------------Sub 9 ---------------------------------------------------------------------------------------------------------------------------------------------------Sub 10 ---------------------------------------------------------------------------------------------------------------------------------------------Business A --------------------------------------- Business B ------------------------------ Trade Name -------------------------------- Date A ---------------------------- a ---- b ---- 3 c ------------- Dear ---------------------: This letter responds to your December 13 2010 request for rulings on certain federal income tax consequences of a proposed transaction. The information provided in that request and in later correspondence is summarized below. The rulings contained in this letter are based on facts and representations submitted by the taxpayer and accompanied by a penalty of perjury statement executed by an appropriate party. This office has not verified any of the material submitted in support of the request for rulings. Verification of the information representations and other data may be required as part of the audit process. In particular this office has not reviewed any information pertaining to and has made no determination regarding whether the Distribution (defined below): (i) satisfies the business purpose requirement of 1.355-2(b) of the Income Tax Regulations (ii) is used principally as a device for the distribution of the earnings and profits of Distributing or Controlled or both (see 355(a)(1)(B) of the Internal Revenue Code and 1.355-2(d)) or (iii) is part of a plan (or series of related transactions) pursuant to which one or more persons will acquire directly or indirectly stock representing a 50-percent or greater interest in Distributing or Controlled (see 355(e) and 1.355-7). Summary of Facts Parent (a foreign corporation) is the parent of a multinational group of corporations engaged in Business A and Business B. Parent wholly owns Entity 1 which is treated as an entity disregarded as separate from Parent for federal income tax purposes. Entity 1 wholly owns Distributing. Distributing is the common parent of an affiliated group of corporations that files a consolidated federal income tax return. Distributing wholly owns Sub 1 Sub 2 Sub 3 Sub 4 Sub 5 Sub 6 Sub 7 and all of the issued and outstanding common stock of Sub 8. Sub 5 and Sub 6 which are disregarded ent

INFO HASH : 1436b299e47ab38d1975bb26dad61675fd551c91

Download now

File Size: 62.2 kb