IRS allows real estate spin-offs
Series: Financial Times ; 7 June 2001, 32(1)Publication details: 2001Subject(s): Summary: The Internal Revenue Service (IRS) has revoked a 1973 interpretation of the original Reit legislation barring Reits that are exempt from corporation tax from entering in any active businesses. This means US corporations may be able to benefit by spinning off their property portfolios into tax-exempt REITs.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB3722-05 (Browse shelf(Opens below)) | 1 | Available | 112999-1001 |
The Internal Revenue Service (IRS) has revoked a 1973 interpretation of the original Reit legislation barring Reits that are exempt from corporation tax from entering in any active businesses. This means US corporations may be able to benefit by spinning off their property portfolios into tax-exempt REITs.