Before agreeing to distribute
a voter guide prepared by another organization, a church must ensure that the guide is truly nonpartisan and does not endorse or oppose any candidate, either explicitly or by implication," reads Cerny and Lauber's memo.
The ruling permitted Parent to distribute
the proceeds of Target's D business to the Parent's shareholders and gave Parent the option to distribute
the proceeds of the sale of the C business later, as long as those proceeds were distributed within one year of the adoption of the plan to distribute
the D business.
The statute does not, however, change the section 355 requirement that the distributing corporation distribute
80 percent of the voting power and 80 percent of each other class of stock of the controlled corporation in the transaction.
To illustrate, assume Distributing transfers active business assets to Controlled and distributes
Controlled's stock to its shareholders.
1368(e) (3) allows an S corporation, with the consent of all shareholders, to elect to distribute
AE&P before the AAA (AAA bypass election).
Thus, they are willing to distribute
any of the tracts.
Art suggests that the corporation distribute
$20,000 cash to him and a fully depreciated piece of equipment worth $20,000 to Bob.
On the termination of the trust during the current income beneficiary's life, the trust must distribute
all of its assets to that beneficiary.