Guest chris4013 Posted May 19, 2005 Posted May 19, 2005 Is this a Controlled Group? Joe Smith owns 100% of company A. Company A owns 75% of Company B Joe Smiths kid age 23 owns 10% of Company B Joe Smiths brother owns 15% of Company B.
Guest chris4013 Posted May 19, 2005 Posted May 19, 2005 Can you elaborate? I don't see it. In my mind under 1563 since the kids don't own more than 50% of stock there is no attribution. So what are you looking at to make your determination?
R. Butler Posted May 19, 2005 Posted May 19, 2005 Joe Smith owns 100% of Co. A Co. A owns 75% of Co. B. Thus through attribution Joe Smith owns 75% of Co. B Joe Smith's adult son owns 10% of Co. B. That ownership is also attributed Joe Smith since he is deemed to already own 75% of Co. B through other attribution.
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