Through an acquisitive "Type D1 reorganization, Border, Inc., is merged into Collie Corporntion on September 2 of the current calendar tax year, The Federal long-term tax-exempt rate for September is 3%. Border shareholders receive 70% of the Collie stock in exchange for all of their Border shares, Border liquidates immedlately after the exchange, At the time of the metger, Border was worth $1,000,000 and held a $500,000NOL. If Collie reports taxable income of $400,000 for the current year, how much of the Border NOL can be utilized in the current year? How much of the Border NOL may Collie utilize next year if its taxable income remains the same? Assume a 365 -day year The amount of Border NOL that Colie can utilize in the current year is because there was percentage-point change in ow The 9382 limit apply iar. Collie can utilizi 18. DQ.0603 Through an acquisitive Type D+reorganization, Border, Inc, is merged into Colse Corporation on September 2 of the current calendar tax year. The Federal long-term tax-exeqipt rate for September is 3\%. Border shareholders recelve 70\% of the Collie stock in exchange for all of their Border shares. Border Fiquidates immediately atter the exchange. At the time of the merger, Border was worth $1,000,000 and held a $500,000NOL If Collie reports taxable income of $400,000 for the current year, how much of the Border NOC can be utilized in the current year? How much of the Border NOL may Collie utilize next year if its taxable income remains the same? Assume a 365 -day.year. The amount of Berder NoL that Colie. can utilize in the current year is The 5382 limit because there was percentagt-point change in ownership. And next year; Collie can ut Through an acquisitive Type D reorganization, Border, Inc, is meroed into Colie Corporation on September 2 of the current calendar tax vear. The Federal long-term tax-exempt rate for September is 3%. Border shareholders receive 70% of the collie stock in exchange for all of their Border shares. Border liquidates immediately after the exchange. At the time of the merger, Border was worth 51,000,000 and held a $500,000NOL If Collie reports taxable income of $400,000 for the current yeaf, how much of the Border Not can be utlized in the current year? how much of the Border NOL may Collle utilize noxt year if its taxable incone remains the same? Assume a 365 .day yeari The amount of Eorder Noc that collie can utlize in the current year is The 5382 limit percentage-point change in ownership. And next year, collie can uthize 18. DQ 0603 Through an acquisitive 'Type D' reorganization, Bordec, Ince, is merged into Collie Corporation on September 2 of the current calendar tax. rear, The Federal fong-term tax-exempt rate for September is 3%. Border shareholders recelve 70% of the Collie stock in exchange for all of their Border shares. Border liquidates immediately after the exchange. At the time of the merger, forder was worth $1,000,000 and held a) 3500,000NOL If Collie reports tavable income of $400,000 for the current yeat, how much of the Eorder NoL can be utalized in the current vear? How. rhuch of the Border Not may Colin . vtilie next year if is tazable inceme remaing the same? Assume a 365 -dar year. The amount of Border Nol that collie can utlize in the cument vear is beceuse there was purcentage-point chapge in ownerthlp, Ad next yeac, Colle can utiliz 18. 00,0603
