Question
Determine whether each of the following transactions meet the solely for voting stock requirement for purposes of IRC Section 368(a)(1)(C) by indicating yes or no
Determine whether each of the following transactions meet the solely for voting stock requirement for purposes of IRC Section 368(a)(1)(C) by indicating yes or no in the last row of the table for each column (15).
Yes/No for each situation.
| Description | Situation-1 | Situation-2 | Situation-3 |
| FMV of Assets of target | $500,000 | $200,000 | $800,000 |
| Liabilities Assumed by Acquiring Firm | 400,000 | 20,000 |
|
| Voting Stock of Acquiring Firm | 100,000 | 170,000 | 100,000 |
| Non-voting Shares of Acquiring Firm | 0 | 0 | 700,000 |
| Money | 0 | 10,000 | 0 |
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A Guide To Local Environmental Auditing
Authors: Hugh Barton; Noel Bruder
1st Edition
1853832340, 9781853832345
