IRS allows real estate spin-offs
IRS allows real estate spin-offs
- 2001
- Financial Times 7 June 2001, 32(1) .
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.
REITS
UNITED STATES
TAX EXEMPTION
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.
REITS
UNITED STATES
TAX EXEMPTION