Reports the issuance of regulations on the qualification and treatment of electing small business trusts by the U.S. Internal Revenue Service and Treasury. Regulations superseded from the amendments of corporation regulations; Termination of corporate election; Rule on the effect of the holder of ...
ESBTs were intended by Congress to provide S corporation shareholders with an additional vehicle for holding their stock. The new rules flesh out the mechanics of the ESBT election, operation, and termination, including the tax consequences of the grantor portion, S portion, and non-S portion ...