Home      Login


Tax Issues for Banks Using Disregarded Entities to Segregate Business Units  


Author:  James D.  Goeller.


Source: Volume 24, Number 04, March/April 2011 , pp.55-58(4)




Journal of Taxation and Regulation of Financial Institutions

< previous article |next article > |return to table of contents

Abstract: 

Banks, in particular, should understand the implications of using disregarded entities for holding assets within their Group, whether using a QSub or a single-member LLC. The tax treatment under the Subchapter H provisions of the Code may not apply to the assets held within the disregarded entities and could result in a trap for the unwary.

Keywords: IRC Section 166 conformity election; Rev. Rul. 2007-32; Rev. Proc. 2007-33; single-member LLC; QSub

Affiliations:  1: Perry-Smith LLP.

Subscribers click here to open full text in PDF.
Non-subscribers click here to purchase this article. $20

< previous article |next article > |return to table of contents