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Question 139: Doctor A is a 100% owner of his corporation. Doctor B buys 50% of the assets of the practice, moves into the office and starts to work. Dr. A still owns 100% of his (now smaller) practice. Dr. B owns 100% of his sole proprietorship (which is basically 50% of Dr A's former corp.) They set up as "Drs. A & B" on the door/biz cards/etc... but no legal entity (corp/partnership/LLP) titled "Drs. A & B" exists. Is this an ASG? |
Answer: The question is whether there is a partnership or joint venture between the two of them. If there is, then clearly there is an affiliated service group. If there is not, then just as clearly there isn't an ASG because of lack of common ownership. |
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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