United States Eleventh Circuit

Spinoff distribution by a parent corporation of its ownership interest in a subsidiary corporation to the parent corporation's sole shareholders does not qualify as a tax-free distribution under the five-year active business requirement, if it takes place on the same day that the parent corporation acquires total control of the subsidiary.

Appellate Information

• Decided 12/21/2001
• Published 12/21/2001

Judges

• HILL, Circuit Judge:, Before BLACK, HILL and STAPLETON, Circuit Judges.

Court

• United States Eleventh Circuit

Counsel

• For Appellant:
  
• Laurie Webb Daniel,Donald W. Wallis, Holland & Knight, Atlanta, GA, for Petitioners.


• For Appellees:
  
• Thomas J. Sawyer, A. Wray Muoio, Dept. of Justice/Tax Div., Washington, DC, for Respondent.