Sec. 357(c) inapplicable to acquisitive D reorgs.Under Sec. 357(c)(1)(B), in the case of an exchange to which Sec. 361 applies by reason of a Sec. 368(a)(1)(D) reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. , if the liabilities assumed exceed the adjusted basis of the property transferred pursuant to such exchange, such excess is a gain from the sale or exchange of a capital asset or of property that is not a capital asset, as the case may be. Under prior law, Sec. 357(c)(1)(B) applied to both divisive di·vi·sive adj. Creating dissension or discord. di·vi  sive·ly adv.di·vi (Secs. 368(a)(1)(D) and 355) and acquisitive (Secs. 368 (a)(1)(D) and 354) D reorganizations. New Law AJCA AJCA American Jobs Creation Act of 2004 (US) AJCA American Jersey Cattle Association AJCA Association of Juvenile Compact Administrators AJCA All Japan Cooks Association AJCA Alabama Junior Cattlemen’s Association Section 898 amends AMENDS. A satisfaction, given by a wrong doer to the party injured for a wrong committed. 1 Lilly's Reg. 81. 2. By statute 24 Geo. II. c. 44, in England, and by similar statutes in some of the United States, justices of the peace, upon being notified of an Sec. 357(c)(1)(B) by limiting the provision's application to a Sec. 368(a)(1)(D) reorganization, in which stock or securities of the corporation to which the assets are transferred are distributed in a qualifying Sec. 355 transaction. Effective Date The amendment to Sec. 357(c)(1)(B) applies to transfers of money or other property, or liabilities assumed, for a reorganization occurring on or after Oct. 22, 2004. Implications As a result of the change, Sec. 357(c) will no longer apply to Sec. 368 (a)(1)(D) acquisitive reorganizations (i.e., a D reorganization in which stock or securities of the corporation to which the assets are transferred are distributed in a transaction subject to Sec. 354(a) and (b)).This amendment conforms the treatment of acquisitive D reorganizations to that of other acquisitive reorganizations under Sec. 357. FROM KIRSTEN Kirsten may refer to: This name may be spelled: Kirsten, Kiersten, Kearston, and Kearsten. People with the surname Kirsten:
British obstetrician and a founder of gynecology. He is also known for introducing the use of chloroform as an anesthetic. , WASHINGTON, DC |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion