QSub Bank Not Protected by S Corporation “Individual” Computation on Qualified Tax-Exempt Obligations, Tax Court Rules
Author: John Ensminger.
Source: Volume 22, Number 05, May/June 2009 , pp.36-46(11)
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Abstract:
The Tax Court’s decision in Vainisi considers only one issue, whether Section 291(a)(3) applies to a qualified subchapter S subsidiary bank, but the impact on such banks will be serious, perhaps devastating.Keywords: Section 1363(b)(4); Section 265(b); Section 291(a)(3)
Affiliations:
1: Delta Hedge.