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Question 94: Nursing Home Management Company manages 3 nursing homes as its sole business. Aaron owns one of the homes, Betty owns the second, and Charlie owns the third. Aaron is Betty's brother and Charlie is her half-brother. Are these businesses an affiliated service group under 414(m)(5)? All four businesses are incorporated. |
Answer: Yes. A management function type of affiliated service group consists of a business that has the principal business purpose of managing 1 other business (or entities related to that business). |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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