id	sid	tid	token	lemma	pos
taxlaw-9799	1	1	conglomerate	conglomerate	NOUN
taxlaw-9799	1	2	spin	spin	NOUN
taxlaw-9799	1	3	-	-	PUNCT
taxlaw-9799	1	4	offs	off	NOUN
taxlaw-9799	1	5	:	:	PUNCT
taxlaw-9799	1	6	whether	whether	SCONJ
taxlaw-9799	1	7	u.s	u.s	PROPN
taxlaw-9799	1	8	.	.	PROPN
taxlaw-9799	1	9	tax	tax	NOUN
taxlaw-9799	1	10	law	law	NOUN
taxlaw-9799	1	11	inhibits	inhibit	VERB
taxlaw-9799	1	12	deconglomeration	deconglomeration	NOUN
taxlaw-9799	1	13	bryce	bryce	PROPN
taxlaw-9799	1	14	maxey	maxey	PROPN
taxlaw-9799	1	15	*	*	PROPN
taxlaw-9799	1	16	abstract	abstract	PROPN
taxlaw-9799	1	17	in	in	ADP
taxlaw-9799	1	18	this	this	DET
taxlaw-9799	1	19	note	note	NOUN
taxlaw-9799	1	20	,	,	PUNCT
taxlaw-9799	1	21	i	i	PRON
taxlaw-9799	1	22	examine	examine	VERB
taxlaw-9799	1	23	whether	whether	SCONJ
taxlaw-9799	1	24	the	the	DET
taxlaw-9799	1	25	complex	complex	ADJ
taxlaw-9799	1	26	nature	nature	NOUN
taxlaw-9799	1	27	of	of	ADP
taxlaw-9799	1	28	the	the	DET
taxlaw-9799	1	29	u.s	u.s	PROPN
taxlaw-9799	1	30	.	.	PROPN
taxlaw-9799	1	31	spin	spin	VERB
taxlaw-9799	1	32	-	-	PUNCT
taxlaw-9799	1	33	off	off	ADP
taxlaw-9799	1	34	rules	rule	NOUN
taxlaw-9799	1	35	and	and	CCONJ
taxlaw-9799	1	36	the	the	DET
taxlaw-9799	1	37	burdens	burden	NOUN
taxlaw-9799	1	38	associated	associate	VERB
taxlaw-9799	1	39	with	with	ADP
taxlaw-9799	1	40	successfully	successfully	ADV
taxlaw-9799	1	41	navigating	navigate	VERB
taxlaw-9799	1	42	such	such	ADJ
taxlaw-9799	1	43	rules	rule	NOUN
taxlaw-9799	1	44	discourage	discourage	VERB
taxlaw-9799	1	45	conglomerates	conglomerate	NOUN
taxlaw-9799	1	46	from	from	ADP
taxlaw-9799	1	47	breaking	break	VERB
taxlaw-9799	1	48	up	up	ADP
taxlaw-9799	1	49	into	into	ADP
taxlaw-9799	1	50	smaller	small	ADJ
taxlaw-9799	1	51	companies	company	NOUN
taxlaw-9799	1	52	through	through	ADP
taxlaw-9799	1	53	tax	tax	NOUN
taxlaw-9799	1	54	-	-	PUNCT
taxlaw-9799	1	55	free	free	ADJ
taxlaw-9799	1	56	spin	spin	NOUN
taxlaw-9799	1	57	-	-	PUNCT
taxlaw-9799	1	58	offs	off	NOUN
taxlaw-9799	1	59	.	.	PUNCT
taxlaw-9799	2	1	first	first	ADV
taxlaw-9799	2	2	,	,	PUNCT
taxlaw-9799	2	3	i	i	PRON
taxlaw-9799	2	4	argue	argue	VERB
taxlaw-9799	2	5	that	that	SCONJ
taxlaw-9799	2	6	there	there	PRON
taxlaw-9799	2	7	are	be	VERB
taxlaw-9799	2	8	numerous	numerous	ADJ
taxlaw-9799	2	9	disadvantages	disadvantage	NOUN
taxlaw-9799	2	10	of	of	ADP
taxlaw-9799	2	11	conglomeration	conglomeration	NOUN
taxlaw-9799	2	12	,	,	PUNCT
taxlaw-9799	2	13	which	which	PRON
taxlaw-9799	2	14	generally	generally	ADV
taxlaw-9799	2	15	tend	tend	VERB
taxlaw-9799	2	16	to	to	PART
taxlaw-9799	2	17	outweigh	outweigh	VERB
taxlaw-9799	2	18	any	any	DET
taxlaw-9799	2	19	economic	economic	ADJ
taxlaw-9799	2	20	benefits	benefit	NOUN
taxlaw-9799	2	21	derived	derive	VERB
taxlaw-9799	2	22	from	from	ADP
taxlaw-9799	2	23	the	the	DET
taxlaw-9799	2	24	conglomerate	conglomerate	NOUN
taxlaw-9799	2	25	form	form	NOUN
taxlaw-9799	2	26	.	.	PUNCT
taxlaw-9799	3	1	next	next	ADV
taxlaw-9799	3	2	,	,	PUNCT
taxlaw-9799	3	3	i	i	PRON
taxlaw-9799	3	4	describe	describe	VERB
taxlaw-9799	3	5	the	the	DET
taxlaw-9799	3	6	statutory	statutory	ADJ
taxlaw-9799	3	7	and	and	CCONJ
taxlaw-9799	3	8	nonstatutory	nonstatutory	ADJ
taxlaw-9799	3	9	requirements	requirement	NOUN
taxlaw-9799	3	10	of	of	ADP
taxlaw-9799	3	11	tax	tax	NOUN
taxlaw-9799	3	12	-	-	PUNCT
taxlaw-9799	3	13	free	free	ADJ
taxlaw-9799	3	14	spinoffs	spinoff	NOUN
taxlaw-9799	3	15	,	,	PUNCT
taxlaw-9799	3	16	evaluating	evaluate	VERB
taxlaw-9799	3	17	particularly	particularly	ADV
taxlaw-9799	3	18	how	how	SCONJ
taxlaw-9799	3	19	each	each	DET
taxlaw-9799	3	20	requirement	requirement	NOUN
taxlaw-9799	3	21	may	may	AUX
taxlaw-9799	3	22	impact	impact	VERB
taxlaw-9799	3	23	a	a	DET
taxlaw-9799	3	24	conglomerate	conglomerate	NOUN
taxlaw-9799	3	25	wishing	wish	VERB
taxlaw-9799	3	26	to	to	PART
taxlaw-9799	3	27	spin	spin	VERB
taxlaw-9799	3	28	off	off	ADP
taxlaw-9799	3	29	one	one	NUM
taxlaw-9799	3	30	or	or	CCONJ
taxlaw-9799	3	31	more	more	ADJ
taxlaw-9799	3	32	of	of	ADP
taxlaw-9799	3	33	its	its	PRON
taxlaw-9799	3	34	business	business	NOUN
taxlaw-9799	3	35	units	unit	NOUN
taxlaw-9799	3	36	.	.	PUNCT
taxlaw-9799	4	1	because	because	SCONJ
taxlaw-9799	4	2	conglomerates	conglomerate	NOUN
taxlaw-9799	4	3	are	be	AUX
taxlaw-9799	4	4	usually	usually	ADV
taxlaw-9799	4	5	multinational	multinational	ADJ
taxlaw-9799	4	6	corporations	corporation	NOUN
taxlaw-9799	4	7	,	,	PUNCT
taxlaw-9799	4	8	i	i	PRON
taxlaw-9799	4	9	also	also	ADV
taxlaw-9799	4	10	briefly	briefly	ADV
taxlaw-9799	4	11	consider	consider	VERB
taxlaw-9799	4	12	the	the	DET
taxlaw-9799	4	13	tax	tax	NOUN
taxlaw-9799	4	14	consequences	consequence	NOUN
taxlaw-9799	4	15	of	of	ADP
taxlaw-9799	4	16	spinning	spin	VERB
taxlaw-9799	4	17	off	off	ADP
taxlaw-9799	4	18	a	a	DET
taxlaw-9799	4	19	foreign	foreign	ADJ
taxlaw-9799	4	20	company	company	NOUN
taxlaw-9799	4	21	.	.	PUNCT
taxlaw-9799	5	1	in	in	ADP
taxlaw-9799	5	2	the	the	DET
taxlaw-9799	5	3	following	follow	VERB
taxlaw-9799	5	4	section	section	NOUN
taxlaw-9799	5	5	,	,	PUNCT
taxlaw-9799	5	6	i	i	PRON
taxlaw-9799	5	7	discuss	discuss	VERB
taxlaw-9799	5	8	the	the	DET
taxlaw-9799	5	9	issuance	issuance	NOUN
taxlaw-9799	5	10	of	of	ADP
taxlaw-9799	5	11	private	private	ADJ
taxlaw-9799	5	12	letter	letter	NOUN
taxlaw-9799	5	13	rulings	ruling	NOUN
taxlaw-9799	5	14	in	in	ADP
taxlaw-9799	5	15	connection	connection	NOUN
taxlaw-9799	5	16	with	with	ADP
taxlaw-9799	5	17	conglomerate	conglomerate	NOUN
taxlaw-9799	5	18	spin	spin	NOUN
taxlaw-9799	5	19	-	-	PUNCT
taxlaw-9799	5	20	offs	off	NOUN
taxlaw-9799	5	21	and	and	CCONJ
taxlaw-9799	5	22	assess	assess	VERB
taxlaw-9799	5	23	whether	whether	SCONJ
taxlaw-9799	5	24	the	the	DET
taxlaw-9799	5	25	i.r.s	i.r.	NOUN
taxlaw-9799	5	26	.	.	PUNCT
taxlaw-9799	5	27	’s	’s	PART
taxlaw-9799	5	28	recent	recent	ADJ
taxlaw-9799	5	29	policy	policy	NOUN
taxlaw-9799	5	30	changes	change	NOUN
taxlaw-9799	5	31	have	have	AUX
taxlaw-9799	5	32	accelerated	accelerate	VERB
taxlaw-9799	5	33	spin	spin	NOUN
taxlaw-9799	5	34	-	-	PUNCT
taxlaw-9799	5	35	off	off	ADP
taxlaw-9799	5	36	activity	activity	NOUN
taxlaw-9799	5	37	or	or	CCONJ
taxlaw-9799	5	38	,	,	PUNCT
taxlaw-9799	5	39	to	to	ADP
taxlaw-9799	5	40	the	the	DET
taxlaw-9799	5	41	contrary	contrary	NOUN
taxlaw-9799	5	42	,	,	PUNCT
taxlaw-9799	5	43	whether	whether	SCONJ
taxlaw-9799	5	44	they	they	PRON
taxlaw-9799	5	45	have	have	AUX
taxlaw-9799	5	46	produced	produce	VERB
taxlaw-9799	5	47	a	a	DET
taxlaw-9799	5	48	chilling	chilling	ADJ
taxlaw-9799	5	49	effect	effect	NOUN
taxlaw-9799	5	50	on	on	ADP
taxlaw-9799	5	51	conglomerate	conglomerate	NOUN
taxlaw-9799	5	52	spin	spin	NOUN
taxlaw-9799	5	53	-	-	PUNCT
taxlaw-9799	5	54	offs	off	NOUN
taxlaw-9799	5	55	.	.	PUNCT
taxlaw-9799	6	1	finally	finally	ADV
taxlaw-9799	6	2	,	,	PUNCT
taxlaw-9799	6	3	i	i	PRON
taxlaw-9799	6	4	examine	examine	VERB
taxlaw-9799	6	5	a	a	DET
taxlaw-9799	6	6	recent	recent	ADJ
taxlaw-9799	6	7	example	example	NOUN
taxlaw-9799	6	8	of	of	ADP
taxlaw-9799	6	9	a	a	DET
taxlaw-9799	6	10	successful	successful	ADJ
taxlaw-9799	6	11	conglomerate	conglomerate	NOUN
taxlaw-9799	6	12	spin	spin	NOUN
taxlaw-9799	6	13	-	-	PUNCT
taxlaw-9799	6	14	off	off	NOUN
taxlaw-9799	6	15	—	—	PUNCT
taxlaw-9799	6	16	liberty	liberty	NOUN
taxlaw-9799	6	17	’s	’s	PART
taxlaw-9799	6	18	spin	spin	NOUN
taxlaw-9799	6	19	-	-	PUNCT
taxlaw-9799	6	20	off	off	NOUN
taxlaw-9799	6	21	of	of	ADP
taxlaw-9799	6	22	tripadvisor	tripadvisor	NOUN
taxlaw-9799	6	23	—	—	PUNCT
taxlaw-9799	6	24	before	before	ADP
taxlaw-9799	6	25	analyzing	analyze	VERB
taxlaw-9799	6	26	an	an	DET
taxlaw-9799	6	27	example	example	NOUN
taxlaw-9799	6	28	of	of	ADP
taxlaw-9799	6	29	a	a	DET
taxlaw-9799	6	30	failed	fail	VERB
taxlaw-9799	6	31	conglomerate	conglomerate	NOUN
taxlaw-9799	6	32	spin	spin	NOUN
taxlaw-9799	6	33	-	-	PUNCT
taxlaw-9799	6	34	off	off	NOUN
taxlaw-9799	6	35	—	—	PUNCT
taxlaw-9799	6	36	yahoo	yahoo	PROPN
taxlaw-9799	6	37	’s	’s	PART
taxlaw-9799	6	38	attempt	attempt	NOUN
taxlaw-9799	6	39	to	to	PART
taxlaw-9799	6	40	spin	spin	VERB
taxlaw-9799	6	41	off	off	ADP
taxlaw-9799	6	42	alibaba	alibaba	PROPN
taxlaw-9799	6	43	.	.	PUNCT
taxlaw-9799	7	1	i	i	PRON
taxlaw-9799	7	2	conclude	conclude	VERB
taxlaw-9799	7	3	that	that	SCONJ
taxlaw-9799	7	4	,	,	PUNCT
taxlaw-9799	7	5	although	although	SCONJ
taxlaw-9799	7	6	tax	tax	NOUN
taxlaw-9799	7	7	-	-	PUNCT
taxlaw-9799	7	8	free	free	ADJ
taxlaw-9799	7	9	spin	spin	NOUN
taxlaw-9799	7	10	-	-	PUNCT
taxlaw-9799	7	11	offs	off	NOUN
taxlaw-9799	7	12	are	be	AUX
taxlaw-9799	7	13	occasionally	occasionally	ADV
taxlaw-9799	7	14	unsuccessful	unsuccessful	ADJ
taxlaw-9799	7	15	,	,	PUNCT
taxlaw-9799	7	16	such	such	ADJ
taxlaw-9799	7	17	failures	failure	NOUN
taxlaw-9799	7	18	are	be	AUX
taxlaw-9799	7	19	rare	rare	ADJ
taxlaw-9799	7	20	.	.	PUNCT
taxlaw-9799	8	1	even	even	ADV
taxlaw-9799	8	2	if	if	SCONJ
taxlaw-9799	8	3	the	the	DET
taxlaw-9799	8	4	tax	tax	NOUN
taxlaw-9799	8	5	rules	rule	NOUN
taxlaw-9799	8	6	are	be	AUX
taxlaw-9799	8	7	byzantine	byzantine	ADJ
taxlaw-9799	8	8	and	and	CCONJ
taxlaw-9799	8	9	the	the	DET
taxlaw-9799	8	10	monetary	monetary	ADJ
taxlaw-9799	8	11	stakes	stake	NOUN
taxlaw-9799	8	12	are	be	AUX
taxlaw-9799	8	13	exceptionally	exceptionally	ADV
taxlaw-9799	8	14	high	high	ADJ
taxlaw-9799	8	15	,	,	PUNCT
taxlaw-9799	8	16	conglomerates	conglomerate	NOUN
taxlaw-9799	8	17	wishing	wish	VERB
taxlaw-9799	8	18	to	to	PART
taxlaw-9799	8	19	spin	spin	VERB
taxlaw-9799	8	20	off	off	ADP
taxlaw-9799	8	21	business	business	NOUN
taxlaw-9799	8	22	units	unit	NOUN
taxlaw-9799	8	23	typically	typically	ADV
taxlaw-9799	8	24	manage	manage	VERB
taxlaw-9799	8	25	to	to	PART
taxlaw-9799	8	26	satisfy	satisfy	VERB
taxlaw-9799	8	27	the	the	DET
taxlaw-9799	8	28	requirements	requirement	NOUN
taxlaw-9799	8	29	.	.	PUNCT
taxlaw-9799	9	1	therefore	therefore	ADV
taxlaw-9799	9	2	,	,	PUNCT
taxlaw-9799	9	3	although	although	SCONJ
taxlaw-9799	9	4	u.s	u.s	PROPN
taxlaw-9799	9	5	.	.	PROPN
taxlaw-9799	9	6	tax	tax	NOUN
taxlaw-9799	9	7	law	law	NOUN
taxlaw-9799	9	8	does	do	AUX
taxlaw-9799	9	9	not	not	PART
taxlaw-9799	9	10	completely	completely	ADV
taxlaw-9799	9	11	hinder	hinder	VERB
taxlaw-9799	9	12	deconglomeration	deconglomeration	NOUN
taxlaw-9799	9	13	,	,	PUNCT
taxlaw-9799	9	14	spin	spin	NOUN
taxlaw-9799	9	15	-	-	PUNCT
taxlaw-9799	9	16	offs	off	NOUN
taxlaw-9799	9	17	are	be	AUX
taxlaw-9799	9	18	nevertheless	nevertheless	ADV
taxlaw-9799	9	19	costly	costly	ADJ
taxlaw-9799	9	20	.	.	PUNCT
taxlaw-9799	10	1	fulfilling	fulfil	VERB
taxlaw-9799	10	2	the	the	DET
taxlaw-9799	10	3	spin	spin	VERB
taxlaw-9799	10	4	-	-	PUNCT
taxlaw-9799	10	5	off	off	ADP
taxlaw-9799	10	6	requirements	requirement	NOUN
taxlaw-9799	10	7	leads	lead	VERB
taxlaw-9799	10	8	to	to	ADP
taxlaw-9799	10	9	economic	economic	ADJ
taxlaw-9799	10	10	inefficiencies	inefficiency	NOUN
taxlaw-9799	10	11	because	because	SCONJ
taxlaw-9799	10	12	it	it	PRON
taxlaw-9799	10	13	entails	entail	VERB
taxlaw-9799	10	14	expensive	expensive	ADJ
taxlaw-9799	10	15	pre	pre	ADJ
taxlaw-9799	10	16	-	-	ADJ
taxlaw-9799	10	17	spin	spin	VERB
taxlaw-9799	10	18	-	-	PUNCT
taxlaw-9799	10	19	off	off	ADP
taxlaw-9799	10	20	restructuring	restructuring	NOUN
taxlaw-9799	10	21	and	and	CCONJ
taxlaw-9799	10	22	delays	delay	NOUN
taxlaw-9799	10	23	,	,	PUNCT
taxlaw-9799	10	24	as	as	ADV
taxlaw-9799	10	25	well	well	ADV
taxlaw-9799	10	26	as	as	ADP
taxlaw-9799	10	27	high	high	ADJ
taxlaw-9799	10	28	transaction	transaction	NOUN
taxlaw-9799	10	29	and	and	CCONJ
taxlaw-9799	10	30	friction	friction	NOUN
taxlaw-9799	10	31	costs	cost	NOUN
taxlaw-9799	10	32	.	.	PUNCT
taxlaw-9799	11	1	*	*	PUNCT
taxlaw-9799	11	2	j.d	j.d	PROPN
taxlaw-9799	11	3	.	.	PROPN
taxlaw-9799	11	4	2022	2022	NUM
taxlaw-9799	11	5	,	,	PUNCT
taxlaw-9799	11	6	columbia	columbia	PROPN
taxlaw-9799	11	7	law	law	PROPN
taxlaw-9799	11	8	school	school	NOUN
taxlaw-9799	11	9	;	;	PUNCT
taxlaw-9799	11	10	ph.d	ph.d	PROPN
taxlaw-9799	11	11	.	.	PROPN
taxlaw-9799	11	12	2018	2018	NUM
taxlaw-9799	11	13	,	,	PUNCT
taxlaw-9799	11	14	yale	yale	PROPN
taxlaw-9799	11	15	university	university	PROPN
taxlaw-9799	11	16	;	;	PUNCT
taxlaw-9799	12	1	m.a	m.a	PROPN
taxlaw-9799	12	2	.	.	PROPN
taxlaw-9799	12	3	2014	2014	NUM
taxlaw-9799	12	4	,	,	PUNCT
taxlaw-9799	12	5	university	university	NOUN
taxlaw-9799	12	6	of	of	ADP
taxlaw-9799	12	7	buenos	buenos	PROPN
taxlaw-9799	12	8	aires	aires	PROPN
taxlaw-9799	12	9	,	,	PUNCT
taxlaw-9799	12	10	2014	2014	NUM
taxlaw-9799	12	11	;	;	PUNCT
taxlaw-9799	12	12	b.a	b.a	PROPN
taxlaw-9799	12	13	.	.	PROPN
taxlaw-9799	12	14	2010	2010	NUM
taxlaw-9799	12	15	,	,	PUNCT
taxlaw-9799	12	16	university	university	NOUN
taxlaw-9799	12	17	of	of	ADP
taxlaw-9799	12	18	virginia	virginia	PROPN
taxlaw-9799	12	19	.	.	PUNCT
taxlaw-9799	13	1	many	many	ADJ
taxlaw-9799	13	2	thanks	thank	NOUN
taxlaw-9799	13	3	to	to	ADP
taxlaw-9799	13	4	gary	gary	PROPN
taxlaw-9799	13	5	mandel	mandel	PROPN
taxlaw-9799	13	6	for	for	ADP
taxlaw-9799	13	7	his	his	PRON
taxlaw-9799	13	8	invaluable	invaluable	ADJ
taxlaw-9799	13	9	guidance	guidance	NOUN
taxlaw-9799	13	10	and	and	CCONJ
taxlaw-9799	13	11	feedback	feedback	NOUN
taxlaw-9799	13	12	in	in	ADP
taxlaw-9799	13	13	overseeing	oversee	VERB
taxlaw-9799	13	14	this	this	DET
taxlaw-9799	13	15	note	note	NOUN
taxlaw-9799	13	16	,	,	PUNCT
taxlaw-9799	13	17	to	to	ADP
taxlaw-9799	13	18	paul	paul	PROPN
taxlaw-9799	13	19	oosterhuis	oosterhuis	PROPN
taxlaw-9799	13	20	for	for	ADP
taxlaw-9799	13	21	helping	help	VERB
taxlaw-9799	13	22	me	i	PRON
taxlaw-9799	13	23	understand	understand	VERB
taxlaw-9799	13	24	the	the	DET
taxlaw-9799	13	25	tax	tax	NOUN
taxlaw-9799	13	26	consequences	consequence	NOUN
taxlaw-9799	13	27	associated	associate	VERB
taxlaw-9799	13	28	with	with	ADP
taxlaw-9799	13	29	conglomerate	conglomerate	NOUN
taxlaw-9799	13	30	spin	spin	NOUN
taxlaw-9799	13	31	-	-	PUNCT
taxlaw-9799	13	32	offs	off	NOUN
taxlaw-9799	13	33	in	in	ADP
taxlaw-9799	13	34	the	the	DET
taxlaw-9799	13	35	cross	cross	ADJ
taxlaw-9799	13	36	-	-	ADJ
taxlaw-9799	13	37	border	border	ADJ
taxlaw-9799	13	38	context	context	NOUN
taxlaw-9799	13	39	,	,	PUNCT
taxlaw-9799	13	40	to	to	ADP
taxlaw-9799	13	41	rick	rick	PROPN
taxlaw-9799	13	42	d’avino	d’avino	VERB
taxlaw-9799	13	43	for	for	ADP
taxlaw-9799	13	44	providing	provide	VERB
taxlaw-9799	13	45	me	i	PRON
taxlaw-9799	13	46	with	with	ADP
taxlaw-9799	13	47	a	a	DET
taxlaw-9799	13	48	solid	solid	ADJ
taxlaw-9799	13	49	foundation	foundation	NOUN
taxlaw-9799	13	50	in	in	ADP
taxlaw-9799	13	51	corporate	corporate	ADJ
taxlaw-9799	13	52	tax	tax	NOUN
taxlaw-9799	13	53	law	law	NOUN
taxlaw-9799	13	54	,	,	PUNCT
taxlaw-9799	13	55	and	and	CCONJ
taxlaw-9799	13	56	to	to	ADP
taxlaw-9799	13	57	professor	professor	PROPN
taxlaw-9799	13	58	jeffrey	jeffrey	PROPN
taxlaw-9799	13	59	n.	n.	PROPN
taxlaw-9799	13	60	gordon	gordon	PROPN
taxlaw-9799	13	61	for	for	ADP
taxlaw-9799	13	62	his	his	PRON
taxlaw-9799	13	63	help	help	NOUN
taxlaw-9799	13	64	in	in	ADP
taxlaw-9799	13	65	developing	develop	VERB
taxlaw-9799	13	66	this	this	DET
taxlaw-9799	13	67	topic	topic	NOUN
taxlaw-9799	13	68	.	.	PUNCT
taxlaw-9799	14	1	165	165	NUM
taxlaw-9799	14	2	columbia	columbia	PROPN
taxlaw-9799	14	3	journal	journal	PROPN
taxlaw-9799	14	4	of	of	ADP
taxlaw-9799	14	5	tax	tax	NOUN
taxlaw-9799	14	6	law	law	NOUN
taxlaw-9799	14	7	[	[	X
taxlaw-9799	14	8	vol	vol	NOUN
taxlaw-9799	14	9	:	:	PUNCT
taxlaw-9799	14	10	13:2	13:2	NUM
taxlaw-9799	14	11	introduction	introduction	NOUN
taxlaw-9799	14	12	.....................................................................................................	.....................................................................................................	NUM
taxlaw-9799	14	13	166	166	NUM
taxlaw-9799	14	14	i.	i.	NOUN
taxlaw-9799	14	15	the	the	DET
taxlaw-9799	14	16	problems	problem	NOUN
taxlaw-9799	14	17	with	with	ADP
taxlaw-9799	14	18	conglomeration	conglomeration	NOUN
taxlaw-9799	14	19	.........................................................	.........................................................	PUNCT
taxlaw-9799	14	20	167	167	NUM
taxlaw-9799	14	21	ii	ii	NOUN
taxlaw-9799	14	22	.	.	PUNCT
taxlaw-9799	14	23	conglomerate	conglomerate	NOUN
taxlaw-9799	14	24	spin	spin	NOUN
taxlaw-9799	14	25	-	-	PUNCT
taxlaw-9799	14	26	offs	off	NOUN
taxlaw-9799	14	27	.............................................................................	.............................................................................	PUNCT
taxlaw-9799	14	28	171	171	NUM
taxlaw-9799	14	29	1	1	NUM
taxlaw-9799	14	30	.	.	PUNCT
taxlaw-9799	14	31	statutory	statutory	ADJ
taxlaw-9799	14	32	requirements	requirement	NOUN
taxlaw-9799	14	33	........................................................................	........................................................................	PUNCT
taxlaw-9799	14	34	173	173	NUM
taxlaw-9799	14	35	a.	a.	NOUN
taxlaw-9799	14	36	distribution	distribution	NOUN
taxlaw-9799	14	37	of	of	ADP
taxlaw-9799	14	38	control	control	NOUN
taxlaw-9799	14	39	..............................................................	..............................................................	PUNCT
taxlaw-9799	14	40	173	173	NUM
taxlaw-9799	14	41	b.	b.	PROPN
taxlaw-9799	14	42	active	active	ADJ
taxlaw-9799	14	43	conduct	conduct	NOUN
taxlaw-9799	14	44	of	of	ADP
taxlaw-9799	14	45	a	a	DET
taxlaw-9799	14	46	trade	trade	NOUN
taxlaw-9799	14	47	or	or	CCONJ
taxlaw-9799	14	48	business	business	NOUN
taxlaw-9799	14	49	.....................................	.....................................	PUNCT
taxlaw-9799	14	50	173	173	NUM
taxlaw-9799	14	51	c.	c.	PROPN
taxlaw-9799	14	52	nondevice	nondevice	PROPN
taxlaw-9799	14	53	..................................................................................	..................................................................................	PUNCT
taxlaw-9799	14	54	175	175	NUM
taxlaw-9799	14	55	2	2	NUM
taxlaw-9799	14	56	.	.	PUNCT
taxlaw-9799	14	57	additional	additional	ADJ
taxlaw-9799	14	58	statutory	statutory	ADJ
taxlaw-9799	14	59	anti	anti	ADJ
taxlaw-9799	14	60	-	-	ADJ
taxlaw-9799	14	61	abuse	abuse	ADJ
taxlaw-9799	14	62	provisions	provision	NOUN
taxlaw-9799	14	63	.......................................	.......................................	PUNCT
taxlaw-9799	14	64	176	176	NUM
taxlaw-9799	14	65	a.	a.	NOUN
taxlaw-9799	14	66	section	section	NOUN
taxlaw-9799	14	67	355(d	355(d	PROPN
taxlaw-9799	14	68	):	):	PUNCT
taxlaw-9799	14	69	“	"	PUNCT
taxlaw-9799	14	70	disqualified	disqualify	VERB
taxlaw-9799	14	71	distributions	distribution	NOUN
taxlaw-9799	14	72	”	"	PUNCT
taxlaw-9799	14	73	............................	............................	PUNCT
taxlaw-9799	14	74	176	176	NUM
taxlaw-9799	14	75	b.	b.	PROPN
taxlaw-9799	14	76	section	section	NOUN
taxlaw-9799	14	77	355(e	355(e	PROPN
taxlaw-9799	14	78	):	):	PUNCT
taxlaw-9799	14	79	anti	anti	ADJ
taxlaw-9799	14	80	-	-	ADJ
taxlaw-9799	14	81	morris	morris	ADJ
taxlaw-9799	14	82	trust	trust	NOUN
taxlaw-9799	14	83	provision	provision	NOUN
taxlaw-9799	14	84	............................	............................	PUNCT
taxlaw-9799	14	85	177	177	NUM
taxlaw-9799	14	86	3	3	NUM
taxlaw-9799	14	87	.	.	PUNCT
taxlaw-9799	14	88	nonstatutory	nonstatutory	ADJ
taxlaw-9799	14	89	requirements	requirement	NOUN
taxlaw-9799	14	90	.................................................................	.................................................................	PUNCT
taxlaw-9799	14	91	178	178	NUM
taxlaw-9799	14	92	a.	a.	NOUN
taxlaw-9799	14	93	corporate	corporate	ADJ
taxlaw-9799	14	94	business	business	NOUN
taxlaw-9799	14	95	purpose	purpose	NOUN
taxlaw-9799	14	96	......................................................	......................................................	PUNCT
taxlaw-9799	14	97	178	178	NUM
taxlaw-9799	14	98	b.	b.	NOUN
taxlaw-9799	14	99	continuity	continuity	NOUN
taxlaw-9799	14	100	of	of	ADP
taxlaw-9799	14	101	interest	interest	NOUN
taxlaw-9799	14	102	................................................................	................................................................	PUNCT
taxlaw-9799	14	103	180	180	NUM
taxlaw-9799	14	104	4	4	NUM
taxlaw-9799	14	105	.	.	PUNCT
taxlaw-9799	15	1	two	two	NUM
taxlaw-9799	15	2	additional	additional	ADJ
taxlaw-9799	15	3	considerations	consideration	NOUN
taxlaw-9799	15	4	...........................................................	...........................................................	PUNCT
taxlaw-9799	15	5	180	180	NUM
taxlaw-9799	15	6	a.	a.	NOUN
taxlaw-9799	15	7	section	section	NOUN
taxlaw-9799	15	8	367	367	NUM
taxlaw-9799	15	9	:	:	PUNCT
taxlaw-9799	15	10	international	international	ADJ
taxlaw-9799	15	11	spin	spin	NOUN
taxlaw-9799	15	12	-	-	PUNCT
taxlaw-9799	15	13	offs	off	NOUN
taxlaw-9799	15	14	.........................................	.........................................	PUNCT
taxlaw-9799	15	15	180	180	NUM
taxlaw-9799	15	16	b.	b.	PROPN
taxlaw-9799	15	17	private	private	ADJ
taxlaw-9799	15	18	letter	letter	NOUN
taxlaw-9799	15	19	rulings	ruling	NOUN
taxlaw-9799	15	20	................................................................	................................................................	PUNCT
taxlaw-9799	15	21	182	182	NUM
taxlaw-9799	15	22	iii	iii	NOUN
taxlaw-9799	15	23	.	.	PUNCT
taxlaw-9799	16	1	liberty	liberty	PROPN
taxlaw-9799	16	2	’s	’s	PART
taxlaw-9799	16	3	spin	spin	NOUN
taxlaw-9799	16	4	-	-	PUNCT
taxlaw-9799	16	5	off	off	NOUN
taxlaw-9799	16	6	of	of	ADP
taxlaw-9799	16	7	tripadvisor	tripadvisor	NOUN
taxlaw-9799	16	8	............................................................	............................................................	PUNCT
taxlaw-9799	16	9	183	183	NUM
taxlaw-9799	16	10	iv	iv	NUM
taxlaw-9799	16	11	.	.	PUNCT
taxlaw-9799	16	12	yahoo	yahoo	PROPN
taxlaw-9799	16	13	’s	’s	PART
taxlaw-9799	16	14	failed	fail	VERB
taxlaw-9799	16	15	spin	spin	NOUN
taxlaw-9799	16	16	-	-	PUNCT
taxlaw-9799	16	17	off	off	NOUN
taxlaw-9799	16	18	of	of	ADP
taxlaw-9799	16	19	alibaba	alibaba	PROPN
taxlaw-9799	16	20	........................................................	........................................................	PUNCT
taxlaw-9799	16	21	185	185	NUM
taxlaw-9799	16	22	conclusion	conclusion	NOUN
taxlaw-9799	16	23	.........................................................................................................	.........................................................................................................	PROPN
taxlaw-9799	16	24	191	191	NUM
taxlaw-9799	16	25	2022	2022	NUM
taxlaw-9799	16	26	]	]	PUNCT
taxlaw-9799	16	27	conglomerate	conglomerate	NOUN
taxlaw-9799	16	28	spin	spin	NOUN
taxlaw-9799	16	29	-	-	PUNCT
taxlaw-9799	16	30	offs	off	NOUN
taxlaw-9799	16	31	166	166	NUM
taxlaw-9799	16	32	introduction	introduction	NOUN
taxlaw-9799	16	33	following	follow	VERB
taxlaw-9799	16	34	chief	chief	ADJ
taxlaw-9799	16	35	executive	executive	PROPN
taxlaw-9799	16	36	lawrence	lawrence	PROPN
taxlaw-9799	16	37	culp	culp	PROPN
taxlaw-9799	16	38	’s	’s	PART
taxlaw-9799	16	39	announcement	announcement	NOUN
taxlaw-9799	16	40	in	in	ADP
taxlaw-9799	16	41	2021	2021	NUM
taxlaw-9799	16	42	that	that	PRON
taxlaw-9799	16	43	general	general	ADJ
taxlaw-9799	16	44	electric	electric	NOUN
taxlaw-9799	16	45	(	(	PUNCT
taxlaw-9799	16	46	“	"	PUNCT
taxlaw-9799	16	47	ge	ge	PROPN
taxlaw-9799	16	48	”	"	PUNCT
taxlaw-9799	16	49	)	)	PUNCT
taxlaw-9799	16	50	would	would	AUX
taxlaw-9799	16	51	split	split	VERB
taxlaw-9799	16	52	up	up	ADP
taxlaw-9799	16	53	into	into	ADP
taxlaw-9799	16	54	three	three	NUM
taxlaw-9799	16	55	smaller	small	ADJ
taxlaw-9799	16	56	companies,1	companies,1	NOUN
taxlaw-9799	16	57	ge	ge	PROPN
taxlaw-9799	16	58	’s	’s	PART
taxlaw-9799	16	59	stock	stock	NOUN
taxlaw-9799	16	60	price	price	NOUN
taxlaw-9799	16	61	briefly	briefly	ADV
taxlaw-9799	16	62	surged	surge	VERB
taxlaw-9799	16	63	,	,	PUNCT
taxlaw-9799	16	64	and	and	CCONJ
taxlaw-9799	16	65	investors	investor	NOUN
taxlaw-9799	16	66	and	and	CCONJ
taxlaw-9799	16	67	economists	economist	NOUN
taxlaw-9799	16	68	wondered	wonder	VERB
taxlaw-9799	16	69	why	why	SCONJ
taxlaw-9799	16	70	it	it	PRON
taxlaw-9799	16	71	had	have	AUX
taxlaw-9799	16	72	taken	take	VERB
taxlaw-9799	16	73	the	the	DET
taxlaw-9799	16	74	company	company	NOUN
taxlaw-9799	16	75	so	so	ADV
taxlaw-9799	16	76	long	long	ADV
taxlaw-9799	16	77	to	to	PART
taxlaw-9799	16	78	take	take	VERB
taxlaw-9799	16	79	the	the	DET
taxlaw-9799	16	80	necessary	necessary	ADJ
taxlaw-9799	16	81	steps	step	NOUN
taxlaw-9799	16	82	toward	toward	ADP
taxlaw-9799	16	83	deconglomeration.2	deconglomeration.2	NOUN
taxlaw-9799	16	84	allowing	allow	VERB
taxlaw-9799	16	85	conglomerates	conglomerate	NOUN
taxlaw-9799	16	86	to	to	PART
taxlaw-9799	16	87	divest	divest	VERB
taxlaw-9799	16	88	their	their	PRON
taxlaw-9799	16	89	business	business	NOUN
taxlaw-9799	16	90	divisions	division	NOUN
taxlaw-9799	16	91	is	be	AUX
taxlaw-9799	16	92	essential	essential	ADJ
taxlaw-9799	16	93	to	to	ADP
taxlaw-9799	16	94	improving	improve	VERB
taxlaw-9799	16	95	corporate	corporate	ADJ
taxlaw-9799	16	96	focus	focus	NOUN
taxlaw-9799	16	97	and	and	CCONJ
taxlaw-9799	16	98	specialization	specialization	NOUN
taxlaw-9799	16	99	,	,	PUNCT
taxlaw-9799	16	100	increasing	increase	VERB
taxlaw-9799	16	101	shareholder	shareholder	NOUN
taxlaw-9799	16	102	value	value	NOUN
taxlaw-9799	16	103	,	,	PUNCT
taxlaw-9799	16	104	enhancing	enhance	VERB
taxlaw-9799	16	105	long	long	ADJ
taxlaw-9799	16	106	-	-	PUNCT
taxlaw-9799	16	107	term	term	NOUN
taxlaw-9799	16	108	corporate	corporate	ADJ
taxlaw-9799	16	109	wellbeing	wellbeing	NOUN
taxlaw-9799	16	110	,	,	PUNCT
taxlaw-9799	16	111	and	and	CCONJ
taxlaw-9799	16	112	enabling	enable	VERB
taxlaw-9799	16	113	businesses	business	NOUN
taxlaw-9799	16	114	to	to	PART
taxlaw-9799	16	115	evolve	evolve	VERB
taxlaw-9799	16	116	as	as	ADP
taxlaw-9799	16	117	operational	operational	ADJ
taxlaw-9799	16	118	and	and	CCONJ
taxlaw-9799	16	119	economic	economic	ADJ
taxlaw-9799	16	120	circumstances	circumstance	NOUN
taxlaw-9799	16	121	change	change	VERB
taxlaw-9799	16	122	.	.	PUNCT
taxlaw-9799	17	1	moreover	moreover	ADV
taxlaw-9799	17	2	,	,	PUNCT
taxlaw-9799	17	3	ease	ease	NOUN
taxlaw-9799	17	4	and	and	CCONJ
taxlaw-9799	17	5	simplicity	simplicity	NOUN
taxlaw-9799	17	6	in	in	ADP
taxlaw-9799	17	7	conglomerate	conglomerate	NOUN
taxlaw-9799	17	8	divestment	divestment	NOUN
taxlaw-9799	17	9	are	be	AUX
taxlaw-9799	17	10	crucial	crucial	ADJ
taxlaw-9799	17	11	for	for	ADP
taxlaw-9799	17	12	a	a	DET
taxlaw-9799	17	13	well	well	ADV
taxlaw-9799	17	14	-	-	PUNCT
taxlaw-9799	17	15	functioning	function	VERB
taxlaw-9799	17	16	economy	economy	NOUN
taxlaw-9799	17	17	.	.	PUNCT
taxlaw-9799	18	1	nevertheless	nevertheless	ADV
taxlaw-9799	18	2	,	,	PUNCT
taxlaw-9799	18	3	the	the	DET
taxlaw-9799	18	4	tax	tax	NOUN
taxlaw-9799	18	5	consequences	consequence	NOUN
taxlaw-9799	18	6	of	of	ADP
taxlaw-9799	18	7	deconglomeration	deconglomeration	NOUN
taxlaw-9799	18	8	can	can	AUX
taxlaw-9799	18	9	be	be	AUX
taxlaw-9799	18	10	so	so	ADV
taxlaw-9799	18	11	costly	costly	ADJ
taxlaw-9799	18	12	that	that	SCONJ
taxlaw-9799	18	13	conglomerate	conglomerate	NOUN
taxlaw-9799	18	14	managers	manager	NOUN
taxlaw-9799	18	15	may	may	AUX
taxlaw-9799	18	16	prefer	prefer	VERB
taxlaw-9799	18	17	to	to	PART
taxlaw-9799	18	18	avoid	avoid	VERB
taxlaw-9799	18	19	divestment	divestment	NOUN
taxlaw-9799	18	20	altogether	altogether	ADV
taxlaw-9799	18	21	.	.	PUNCT
taxlaw-9799	19	1	outright	outright	ADJ
taxlaw-9799	19	2	sales	sale	NOUN
taxlaw-9799	19	3	of	of	ADP
taxlaw-9799	19	4	business	business	NOUN
taxlaw-9799	19	5	assets	asset	NOUN
taxlaw-9799	19	6	or	or	CCONJ
taxlaw-9799	19	7	corporate	corporate	ADJ
taxlaw-9799	19	8	stock	stock	NOUN
taxlaw-9799	19	9	are	be	AUX
taxlaw-9799	19	10	almost	almost	ADV
taxlaw-9799	19	11	always	always	ADV
taxlaw-9799	19	12	taxable	taxable	ADJ
taxlaw-9799	19	13	events	event	NOUN
taxlaw-9799	19	14	.	.	PUNCT
taxlaw-9799	20	1	thus	thus	ADV
taxlaw-9799	20	2	,	,	PUNCT
taxlaw-9799	20	3	conglomerates	conglomerate	NOUN
taxlaw-9799	20	4	often	often	ADV
taxlaw-9799	20	5	turn	turn	VERB
taxlaw-9799	20	6	to	to	ADP
taxlaw-9799	20	7	the	the	DET
taxlaw-9799	20	8	spin	spin	VERB
taxlaw-9799	20	9	-	-	PUNCT
taxlaw-9799	20	10	off	off	ADP
taxlaw-9799	20	11	rules	rule	NOUN
taxlaw-9799	20	12	under	under	ADP
taxlaw-9799	20	13	section	section	NOUN
taxlaw-9799	20	14	355	355	NUM
taxlaw-9799	20	15	of	of	ADP
taxlaw-9799	20	16	the	the	DET
taxlaw-9799	20	17	internal	internal	ADJ
taxlaw-9799	20	18	revenue	revenue	NOUN
taxlaw-9799	20	19	code	code	NOUN
taxlaw-9799	20	20	(	(	PUNCT
taxlaw-9799	20	21	“	"	PUNCT
taxlaw-9799	20	22	i.r.c	i.r.c	NOUN
taxlaw-9799	20	23	.	.	PUNCT
taxlaw-9799	20	24	”	"	PUNCT
taxlaw-9799	21	1	or	or	CCONJ
taxlaw-9799	21	2	“	"	PUNCT
taxlaw-9799	21	3	the	the	DET
taxlaw-9799	21	4	code	code	NOUN
taxlaw-9799	21	5	”	"	PUNCT
taxlaw-9799	21	6	)	)	PUNCT
taxlaw-9799	21	7	to	to	PART
taxlaw-9799	21	8	divest	divest	VERB
taxlaw-9799	21	9	their	their	PRON
taxlaw-9799	21	10	business	business	NOUN
taxlaw-9799	21	11	units	unit	NOUN
taxlaw-9799	21	12	tax	tax	NOUN
taxlaw-9799	21	13	-	-	PUNCT
taxlaw-9799	21	14	free	free	ADJ
taxlaw-9799	21	15	.	.	PUNCT
taxlaw-9799	22	1	satisfying	satisfy	VERB
taxlaw-9799	22	2	the	the	DET
taxlaw-9799	22	3	byzantine	byzantine	ADJ
taxlaw-9799	22	4	statutory	statutory	ADJ
taxlaw-9799	22	5	and	and	CCONJ
taxlaw-9799	22	6	nonstatutory	nonstatutory	ADJ
taxlaw-9799	22	7	requirements	requirement	NOUN
taxlaw-9799	22	8	for	for	ADP
taxlaw-9799	22	9	tax	tax	NOUN
taxlaw-9799	22	10	-	-	PUNCT
taxlaw-9799	22	11	free	free	ADJ
taxlaw-9799	22	12	spinoffs,3	spinoffs,3	NOUN
taxlaw-9799	22	13	however	however	ADV
taxlaw-9799	22	14	,	,	PUNCT
taxlaw-9799	22	15	is	be	AUX
taxlaw-9799	22	16	not	not	PART
taxlaw-9799	22	17	for	for	ADP
taxlaw-9799	22	18	the	the	DET
taxlaw-9799	22	19	faint	faint	NOUN
taxlaw-9799	22	20	of	of	ADP
taxlaw-9799	22	21	heart	heart	NOUN
taxlaw-9799	22	22	.	.	PUNCT
taxlaw-9799	23	1	and	and	CCONJ
taxlaw-9799	23	2	failing	fail	VERB
taxlaw-9799	23	3	to	to	PART
taxlaw-9799	23	4	qualify	qualify	VERB
taxlaw-9799	23	5	as	as	ADP
taxlaw-9799	23	6	a	a	DET
taxlaw-9799	23	7	tax	tax	NOUN
taxlaw-9799	23	8	-	-	PUNCT
taxlaw-9799	23	9	free	free	ADJ
taxlaw-9799	23	10	spinoff	spinoff	NOUN
taxlaw-9799	23	11	can	can	AUX
taxlaw-9799	23	12	have	have	VERB
taxlaw-9799	23	13	disastrous	disastrous	ADJ
taxlaw-9799	23	14	results	result	NOUN
taxlaw-9799	23	15	.	.	PUNCT
taxlaw-9799	24	1	the	the	DET
taxlaw-9799	24	2	tax	tax	NOUN
taxlaw-9799	24	3	consequences	consequence	NOUN
taxlaw-9799	24	4	of	of	ADP
taxlaw-9799	24	5	such	such	DET
taxlaw-9799	24	6	a	a	DET
taxlaw-9799	24	7	failure	failure	NOUN
taxlaw-9799	24	8	are	be	AUX
taxlaw-9799	24	9	draconian	draconian	ADJ
taxlaw-9799	24	10	and	and	CCONJ
taxlaw-9799	24	11	—	—	PUNCT
taxlaw-9799	24	12	particularly	particularly	ADV
taxlaw-9799	24	13	in	in	ADP
taxlaw-9799	24	14	the	the	DET
taxlaw-9799	24	15	case	case	NOUN
taxlaw-9799	24	16	of	of	ADP
taxlaw-9799	24	17	conglomerates	conglomerate	NOUN
taxlaw-9799	24	18	—	—	PUNCT
taxlaw-9799	24	19	can	can	AUX
taxlaw-9799	24	20	lead	lead	VERB
taxlaw-9799	24	21	to	to	ADP
taxlaw-9799	24	22	tax	tax	NOUN
taxlaw-9799	24	23	liability	liability	NOUN
taxlaw-9799	24	24	in	in	ADP
taxlaw-9799	24	25	the	the	DET
taxlaw-9799	24	26	billions	billion	NOUN
taxlaw-9799	24	27	of	of	ADP
taxlaw-9799	24	28	dollars	dollar	NOUN
taxlaw-9799	24	29	.	.	PUNCT
taxlaw-9799	25	1	therefore	therefore	ADV
taxlaw-9799	25	2	,	,	PUNCT
taxlaw-9799	25	3	the	the	DET
taxlaw-9799	25	4	stakes	stake	NOUN
taxlaw-9799	25	5	are	be	AUX
taxlaw-9799	25	6	incredibly	incredibly	ADV
taxlaw-9799	25	7	high	high	ADJ
taxlaw-9799	25	8	.	.	PUNCT
taxlaw-9799	26	1	in	in	ADP
taxlaw-9799	26	2	this	this	DET
taxlaw-9799	26	3	note	note	NOUN
taxlaw-9799	26	4	,	,	PUNCT
taxlaw-9799	26	5	i	i	PRON
taxlaw-9799	26	6	examine	examine	VERB
taxlaw-9799	26	7	whether	whether	SCONJ
taxlaw-9799	26	8	the	the	DET
taxlaw-9799	26	9	complexity	complexity	NOUN
taxlaw-9799	26	10	and	and	CCONJ
taxlaw-9799	26	11	severity	severity	NOUN
taxlaw-9799	26	12	of	of	ADP
taxlaw-9799	26	13	the	the	DET
taxlaw-9799	26	14	spin	spin	VERB
taxlaw-9799	26	15	-	-	PUNCT
taxlaw-9799	26	16	off	off	ADP
taxlaw-9799	26	17	rules	rule	NOUN
taxlaw-9799	26	18	in	in	ADP
taxlaw-9799	26	19	the	the	DET
taxlaw-9799	26	20	united	united	PROPN
taxlaw-9799	26	21	states	states	PROPN
taxlaw-9799	26	22	discourage	discourage	VERB
taxlaw-9799	26	23	conglomerates	conglomerate	NOUN
taxlaw-9799	26	24	like	like	ADP
taxlaw-9799	26	25	ge	ge	PROPN
taxlaw-9799	26	26	from	from	ADP
taxlaw-9799	26	27	breaking	break	VERB
taxlaw-9799	26	28	up	up	ADP
taxlaw-9799	26	29	into	into	ADP
taxlaw-9799	26	30	smaller	small	ADJ
taxlaw-9799	26	31	companies	company	NOUN
taxlaw-9799	26	32	through	through	ADP
taxlaw-9799	26	33	tax	tax	NOUN
taxlaw-9799	26	34	-	-	PUNCT
taxlaw-9799	26	35	free	free	ADJ
taxlaw-9799	26	36	spin	spin	NOUN
taxlaw-9799	26	37	-	-	PUNCT
taxlaw-9799	26	38	offs	off	NOUN
taxlaw-9799	26	39	.	.	PUNCT
taxlaw-9799	27	1	in	in	ADP
taxlaw-9799	27	2	part	part	NOUN
taxlaw-9799	27	3	i	i	PRON
taxlaw-9799	27	4	,	,	PUNCT
taxlaw-9799	27	5	i	i	PRON
taxlaw-9799	27	6	discuss	discuss	VERB
taxlaw-9799	27	7	some	some	PRON
taxlaw-9799	27	8	of	of	ADP
taxlaw-9799	27	9	the	the	DET
taxlaw-9799	27	10	benefits	benefit	NOUN
taxlaw-9799	27	11	of	of	ADP
taxlaw-9799	27	12	conglomeration	conglomeration	NOUN
taxlaw-9799	27	13	but	but	CCONJ
taxlaw-9799	27	14	then	then	ADV
taxlaw-9799	27	15	argue	argue	VERB
taxlaw-9799	27	16	that	that	SCONJ
taxlaw-9799	27	17	the	the	DET
taxlaw-9799	27	18	disadvantages	disadvantage	NOUN
taxlaw-9799	27	19	associated	associate	VERB
taxlaw-9799	27	20	with	with	ADP
taxlaw-9799	27	21	conglomeration	conglomeration	NOUN
taxlaw-9799	27	22	tend	tend	VERB
taxlaw-9799	27	23	to	to	PART
taxlaw-9799	27	24	outweigh	outweigh	VERB
taxlaw-9799	27	25	the	the	DET
taxlaw-9799	27	26	benefits	benefit	NOUN
taxlaw-9799	27	27	.	.	PUNCT
taxlaw-9799	28	1	in	in	ADP
taxlaw-9799	28	2	part	part	PROPN
taxlaw-9799	28	3	ii	ii	PROPN
taxlaw-9799	28	4	,	,	PUNCT
taxlaw-9799	28	5	i	i	PRON
taxlaw-9799	28	6	review	review	VERB
taxlaw-9799	28	7	the	the	DET
taxlaw-9799	28	8	statutory	statutory	ADJ
taxlaw-9799	28	9	and	and	CCONJ
taxlaw-9799	28	10	common	common	ADJ
taxlaw-9799	28	11	law	law	NOUN
taxlaw-9799	28	12	requirements	requirement	NOUN
taxlaw-9799	28	13	of	of	ADP
taxlaw-9799	28	14	spin	spin	NOUN
taxlaw-9799	28	15	-	-	PUNCT
taxlaw-9799	28	16	offs	off	NOUN
taxlaw-9799	28	17	,	,	PUNCT
taxlaw-9799	28	18	focusing	focus	VERB
taxlaw-9799	28	19	on	on	ADP
taxlaw-9799	28	20	how	how	SCONJ
taxlaw-9799	28	21	each	each	DET
taxlaw-9799	28	22	requirement	requirement	NOUN
taxlaw-9799	28	23	may	may	AUX
taxlaw-9799	28	24	impact	impact	VERB
taxlaw-9799	28	25	a	a	DET
taxlaw-9799	28	26	conglomerate	conglomerate	NOUN
taxlaw-9799	28	27	wishing	wish	VERB
taxlaw-9799	28	28	to	to	PART
taxlaw-9799	28	29	spin	spin	VERB
taxlaw-9799	28	30	off	off	ADP
taxlaw-9799	28	31	a	a	DET
taxlaw-9799	28	32	business	business	NOUN
taxlaw-9799	28	33	unit	unit	NOUN
taxlaw-9799	28	34	.	.	PUNCT
taxlaw-9799	29	1	i	i	PRON
taxlaw-9799	29	2	also	also	ADV
taxlaw-9799	29	3	briefly	briefly	ADV
taxlaw-9799	29	4	examine	examine	VERB
taxlaw-9799	29	5	the	the	DET
taxlaw-9799	29	6	difficulties	difficulty	NOUN
taxlaw-9799	29	7	that	that	PRON
taxlaw-9799	29	8	arise	arise	VERB
taxlaw-9799	29	9	when	when	SCONJ
taxlaw-9799	29	10	a	a	DET
taxlaw-9799	29	11	u.s	u.s	PROPN
taxlaw-9799	29	12	.	.	PROPN
taxlaw-9799	29	13	conglomerate	conglomerate	NOUN
taxlaw-9799	29	14	wishes	wish	VERB
taxlaw-9799	29	15	to	to	PART
taxlaw-9799	29	16	spin	spin	VERB
taxlaw-9799	29	17	off	off	ADP
taxlaw-9799	29	18	a	a	DET
taxlaw-9799	29	19	foreign	foreign	ADJ
taxlaw-9799	29	20	subsidiary	subsidiary	NOUN
taxlaw-9799	29	21	and	and	CCONJ
taxlaw-9799	29	22	the	the	DET
taxlaw-9799	29	23	issuance	issuance	NOUN
taxlaw-9799	29	24	of	of	ADP
taxlaw-9799	29	25	private	private	ADJ
taxlaw-9799	29	26	letter	letter	NOUN
taxlaw-9799	29	27	rulings	ruling	NOUN
taxlaw-9799	29	28	in	in	ADP
taxlaw-9799	29	29	connection	connection	NOUN
taxlaw-9799	29	30	with	with	ADP
taxlaw-9799	29	31	conglomerate	conglomerate	NOUN
taxlaw-9799	29	32	spin	spin	NOUN
taxlaw-9799	29	33	-	-	PUNCT
taxlaw-9799	29	34	offs	off	NOUN
taxlaw-9799	29	35	—	—	PUNCT
taxlaw-9799	29	36	particularly	particularly	ADV
taxlaw-9799	29	37	,	,	PUNCT
taxlaw-9799	29	38	whether	whether	SCONJ
taxlaw-9799	29	39	certain	certain	ADJ
taxlaw-9799	29	40	recent	recent	ADJ
taxlaw-9799	29	41	policy	policy	NOUN
taxlaw-9799	29	42	changes	change	NOUN
taxlaw-9799	29	43	by	by	ADP
taxlaw-9799	29	44	the	the	DET
taxlaw-9799	29	45	internal	internal	ADJ
taxlaw-9799	29	46	revenue	revenue	NOUN
taxlaw-9799	29	47	service	service	NOUN
taxlaw-9799	29	48	(	(	PUNCT
taxlaw-9799	29	49	“	"	PUNCT
taxlaw-9799	29	50	i.r.s	i.r.	NOUN
taxlaw-9799	29	51	.	.	PUNCT
taxlaw-9799	29	52	”	"	PUNCT
taxlaw-9799	30	1	or	or	CCONJ
taxlaw-9799	30	2	“	"	PUNCT
taxlaw-9799	30	3	the	the	DET
taxlaw-9799	30	4	service	service	NOUN
taxlaw-9799	30	5	”	"	PUNCT
taxlaw-9799	30	6	)	)	PUNCT
taxlaw-9799	30	7	have	have	AUX
taxlaw-9799	30	8	accelerated	accelerate	VERB
taxlaw-9799	30	9	spin	spin	NOUN
taxlaw-9799	30	10	-	-	PUNCT
taxlaw-9799	30	11	off	off	ADP
taxlaw-9799	30	12	activity	activity	NOUN
taxlaw-9799	30	13	or	or	CCONJ
taxlaw-9799	30	14	,	,	PUNCT
taxlaw-9799	30	15	conversely	conversely	ADV
taxlaw-9799	30	16	,	,	PUNCT
taxlaw-9799	30	17	whether	whether	SCONJ
taxlaw-9799	30	18	they	they	PRON
taxlaw-9799	30	19	have	have	AUX
taxlaw-9799	30	20	produced	produce	VERB
taxlaw-9799	30	21	a	a	DET
taxlaw-9799	30	22	chilling	chilling	ADJ
taxlaw-9799	30	23	effect	effect	NOUN
taxlaw-9799	30	24	on	on	ADP
taxlaw-9799	30	25	conglomerate	conglomerate	NOUN
taxlaw-9799	30	26	spin	spin	NOUN
taxlaw-9799	30	27	-	-	PUNCT
taxlaw-9799	30	28	offs	off	NOUN
taxlaw-9799	30	29	.	.	PUNCT
taxlaw-9799	31	1	in	in	ADP
taxlaw-9799	31	2	part	part	NOUN
taxlaw-9799	31	3	iii	iii	NOUN
taxlaw-9799	31	4	,	,	PUNCT
taxlaw-9799	31	5	i	i	PRON
taxlaw-9799	31	6	analyze	analyze	VERB
taxlaw-9799	31	7	a	a	DET
taxlaw-9799	31	8	recent	recent	ADJ
taxlaw-9799	31	9	example	example	NOUN
taxlaw-9799	31	10	of	of	ADP
taxlaw-9799	31	11	a	a	DET
taxlaw-9799	31	12	successful	successful	ADJ
taxlaw-9799	31	13	conglomerate	conglomerate	NOUN
taxlaw-9799	31	14	spin	spin	NOUN
taxlaw-9799	31	15	-	-	PUNCT
taxlaw-9799	31	16	off	off	NOUN
taxlaw-9799	31	17	,	,	PUNCT
taxlaw-9799	31	18	liberty	liberty	PROPN
taxlaw-9799	31	19	’s	’s	PART
taxlaw-9799	31	20	spin	spin	NOUN
taxlaw-9799	31	21	-	-	PUNCT
taxlaw-9799	31	22	off	off	NOUN
taxlaw-9799	31	23	of	of	ADP
taxlaw-9799	31	24	tripadvisor	tripadvisor	NOUN
taxlaw-9799	31	25	.	.	PUNCT
taxlaw-9799	32	1	finally	finally	ADV
taxlaw-9799	32	2	,	,	PUNCT
taxlaw-9799	32	3	in	in	ADP
taxlaw-9799	32	4	part	part	NOUN
taxlaw-9799	32	5	iv	iv	ADP
taxlaw-9799	32	6	,	,	PUNCT
taxlaw-9799	32	7	i	i	PROPN
taxlaw-9799	32	8	1	1	NUM
taxlaw-9799	32	9	steve	steve	PROPN
taxlaw-9799	32	10	lohr	lohr	PROPN
taxlaw-9799	32	11	&	&	CCONJ
taxlaw-9799	32	12	michael	michael	PROPN
taxlaw-9799	32	13	j.	j.	PROPN
taxlaw-9799	32	14	de	de	PROPN
taxlaw-9799	32	15	la	la	PROPN
taxlaw-9799	32	16	merced	merced	PROPN
taxlaw-9799	32	17	,	,	PUNCT
taxlaw-9799	32	18	g.e	g.e	PROPN
taxlaw-9799	32	19	.	.	PROPN
taxlaw-9799	32	20	breaks	break	VERB
taxlaw-9799	32	21	up	up	ADP
taxlaw-9799	32	22	with	with	ADP
taxlaw-9799	32	23	its	its	PRON
taxlaw-9799	32	24	storied	storied	ADJ
taxlaw-9799	32	25	past	past	NOUN
taxlaw-9799	32	26	,	,	PUNCT
taxlaw-9799	32	27	n.y	n.y	PROPN
taxlaw-9799	32	28	.	.	PROPN
taxlaw-9799	32	29	times	times	PROPN
taxlaw-9799	32	30	(	(	PUNCT
taxlaw-9799	32	31	nov	nov	PROPN
taxlaw-9799	32	32	.	.	PROPN
taxlaw-9799	32	33	9	9	NUM
taxlaw-9799	32	34	,	,	PUNCT
taxlaw-9799	32	35	2021	2021	NUM
taxlaw-9799	32	36	)	)	PUNCT
taxlaw-9799	32	37	,	,	PUNCT
taxlaw-9799	32	38	https://www.nytimes.com/2021/11/09/business/general-electric-break-up.html	https://www.nytimes.com/2021/11/09/business/general-electric-break-up.html	PROPN
taxlaw-9799	33	1	[	[	X
taxlaw-9799	33	2	https://perma.cc/3m4g-3bqe	https://perma.cc/3m4g-3bqe	X
taxlaw-9799	33	3	]	]	X
taxlaw-9799	33	4	.	.	PUNCT
taxlaw-9799	33	5	2	2	NUM
taxlaw-9799	33	6	see	see	VERB
taxlaw-9799	33	7	alicia	alicia	PROPN
taxlaw-9799	33	8	doniger	doniger	NOUN
taxlaw-9799	33	9	,	,	PUNCT
taxlaw-9799	33	10	ge	ge	PROPN
taxlaw-9799	33	11	never	never	ADV
taxlaw-9799	33	12	made	make	VERB
taxlaw-9799	33	13	sense	sense	NOUN
taxlaw-9799	33	14	,	,	PUNCT
taxlaw-9799	33	15	says	say	VERB
taxlaw-9799	33	16	yale	yale	PROPN
taxlaw-9799	33	17	corporate	corporate	ADJ
taxlaw-9799	33	18	leadership	leadership	NOUN
taxlaw-9799	33	19	expert	expert	NOUN
taxlaw-9799	33	20	,	,	PUNCT
taxlaw-9799	33	21	cnbc	cnbc	PROPN
taxlaw-9799	33	22	(	(	PUNCT
taxlaw-9799	33	23	nov	nov	PROPN
taxlaw-9799	33	24	.	.	PROPN
taxlaw-9799	33	25	11	11	NUM
taxlaw-9799	33	26	,	,	PUNCT
taxlaw-9799	33	27	2021	2021	NUM
taxlaw-9799	33	28	)	)	PUNCT
taxlaw-9799	33	29	,	,	PUNCT
taxlaw-9799	33	30	https://www.cnbc.com/2021/11/11/ge-never-made-sense-says-yale-corporateleadership-expert.html	https://www.cnbc.com/2021/11/11/ge-never-made-sense-says-yale-corporateleadership-expert.html	PRON
taxlaw-9799	34	1	[	[	X
taxlaw-9799	34	2	https://perma.cc/y8gf-tuh6	https://perma.cc/y8gf-tuh6	X
taxlaw-9799	34	3	]	]	X
taxlaw-9799	34	4	(	(	PUNCT
taxlaw-9799	34	5	describing	describe	VERB
taxlaw-9799	34	6	ge	ge	PROPN
taxlaw-9799	34	7	’s	’s	PART
taxlaw-9799	34	8	decision	decision	NOUN
taxlaw-9799	34	9	to	to	PART
taxlaw-9799	34	10	split	split	VERB
taxlaw-9799	34	11	into	into	ADP
taxlaw-9799	34	12	three	three	NUM
taxlaw-9799	34	13	firms	firm	NOUN
taxlaw-9799	34	14	as	as	ADP
taxlaw-9799	34	15	long	long	ADV
taxlaw-9799	34	16	overdue	overdue	ADJ
taxlaw-9799	34	17	)	)	PUNCT
taxlaw-9799	34	18	.	.	PUNCT
taxlaw-9799	35	1	3	3	NUM
taxlaw-9799	35	2	n.y	n.y	PROPN
taxlaw-9799	35	3	.	.	PROPN
taxlaw-9799	35	4	state	state	PROPN
taxlaw-9799	35	5	bar	bar	PROPN
taxlaw-9799	35	6	ass’n	ass’n	NOUN
taxlaw-9799	35	7	tax	tax	NOUN
taxlaw-9799	35	8	section	section	NOUN
taxlaw-9799	35	9	,	,	PUNCT
taxlaw-9799	35	10	report	report	VERB
taxlaw-9799	35	11	no	no	INTJ
taxlaw-9799	35	12	.	.	NOUN
taxlaw-9799	35	13	1342	1342	NUM
taxlaw-9799	35	14	,	,	PUNCT
taxlaw-9799	35	15	report	report	NOUN
taxlaw-9799	35	16	on	on	ADP
taxlaw-9799	35	17	notice	notice	NOUN
taxlaw-9799	35	18	2015	2015	NUM
taxlaw-9799	35	19	-	-	SYM
taxlaw-9799	35	20	59	59	NUM
taxlaw-9799	35	21	and	and	CCONJ
taxlaw-9799	35	22	revenue	revenue	NOUN
taxlaw-9799	35	23	procedure	procedure	NOUN
taxlaw-9799	35	24	2015	2015	NUM
taxlaw-9799	35	25	-	-	SYM
taxlaw-9799	35	26	43	43	NUM
taxlaw-9799	35	27	relating	relate	VERB
taxlaw-9799	35	28	to	to	ADP
taxlaw-9799	35	29	substantial	substantial	ADJ
taxlaw-9799	35	30	investment	investment	NOUN
taxlaw-9799	35	31	assets	asset	NOUN
taxlaw-9799	35	32	,	,	PUNCT
taxlaw-9799	35	33	de	de	X
taxlaw-9799	35	34	minimis	minimis	NOUN
taxlaw-9799	35	35	active	active	ADJ
taxlaw-9799	35	36	trades	trade	NOUN
taxlaw-9799	35	37	or	or	CCONJ
taxlaw-9799	35	38	businesses	business	NOUN
taxlaw-9799	35	39	and	and	CCONJ
taxlaw-9799	35	40	c	c	NOUN
taxlaw-9799	35	41	-	-	PUNCT
taxlaw-9799	35	42	to	to	ADP
taxlaw-9799	35	43	-	-	PUNCT
taxlaw-9799	35	44	ric	ric	VERB
taxlaw-9799	35	45	spin	spin	NOUN
taxlaw-9799	35	46	-	-	PUNCT
taxlaw-9799	35	47	offs	off	NOUN
taxlaw-9799	35	48	(	(	PUNCT
taxlaw-9799	35	49	2016	2016	NUM
taxlaw-9799	35	50	)	)	PUNCT
taxlaw-9799	35	51	,	,	PUNCT
taxlaw-9799	35	52	at	at	ADP
taxlaw-9799	35	53	27	27	NUM
taxlaw-9799	35	54	[	[	NOUN
taxlaw-9799	35	55	hereinafter	hereinafter	NOUN
taxlaw-9799	35	56	report	report	NOUN
taxlaw-9799	35	57	no	no	INTJ
taxlaw-9799	35	58	.	.	NOUN
taxlaw-9799	35	59	1342	1342	NUM
taxlaw-9799	35	60	]	]	PUNCT
taxlaw-9799	35	61	.	.	PUNCT
taxlaw-9799	36	1	167	167	NUM
taxlaw-9799	36	2	columbia	columbia	PROPN
taxlaw-9799	36	3	journal	journal	PROPN
taxlaw-9799	36	4	of	of	ADP
taxlaw-9799	36	5	tax	tax	NOUN
taxlaw-9799	36	6	law	law	NOUN
taxlaw-9799	37	1	[	[	X
taxlaw-9799	37	2	vol	vol	NOUN
taxlaw-9799	37	3	:	:	PUNCT
taxlaw-9799	37	4	13:2	13:2	NUM
taxlaw-9799	37	5	examine	examine	VERB
taxlaw-9799	37	6	an	an	DET
taxlaw-9799	37	7	example	example	NOUN
taxlaw-9799	37	8	of	of	ADP
taxlaw-9799	37	9	a	a	DET
taxlaw-9799	37	10	failed	fail	VERB
taxlaw-9799	37	11	conglomerate	conglomerate	NOUN
taxlaw-9799	37	12	spin	spin	NOUN
taxlaw-9799	37	13	-	-	PUNCT
taxlaw-9799	37	14	off	off	NOUN
taxlaw-9799	37	15	,	,	PUNCT
taxlaw-9799	37	16	yahoo	yahoo	PROPN
taxlaw-9799	37	17	’s	’s	PART
taxlaw-9799	37	18	attempt	attempt	NOUN
taxlaw-9799	37	19	to	to	PART
taxlaw-9799	37	20	spin	spin	VERB
taxlaw-9799	37	21	off	off	ADP
taxlaw-9799	37	22	alibaba	alibaba	PROPN
taxlaw-9799	37	23	.	.	PUNCT
taxlaw-9799	38	1	i	i	PRON
taxlaw-9799	38	2	conclude	conclude	VERB
taxlaw-9799	38	3	that	that	SCONJ
taxlaw-9799	38	4	,	,	PUNCT
taxlaw-9799	38	5	although	although	SCONJ
taxlaw-9799	38	6	tax	tax	NOUN
taxlaw-9799	38	7	-	-	PUNCT
taxlaw-9799	38	8	free	free	ADJ
taxlaw-9799	38	9	spin	spin	NOUN
taxlaw-9799	38	10	-	-	PUNCT
taxlaw-9799	38	11	offs	off	NOUN
taxlaw-9799	38	12	are	be	AUX
taxlaw-9799	38	13	occasionally	occasionally	ADV
taxlaw-9799	38	14	unsuccessful	unsuccessful	ADJ
taxlaw-9799	38	15	,	,	PUNCT
taxlaw-9799	38	16	such	such	ADJ
taxlaw-9799	38	17	failures	failure	NOUN
taxlaw-9799	38	18	are	be	AUX
taxlaw-9799	38	19	rare	rare	ADJ
taxlaw-9799	38	20	.	.	PUNCT
taxlaw-9799	39	1	even	even	ADV
taxlaw-9799	39	2	if	if	SCONJ
taxlaw-9799	39	3	the	the	DET
taxlaw-9799	39	4	tax	tax	NOUN
taxlaw-9799	39	5	rules	rule	NOUN
taxlaw-9799	39	6	are	be	AUX
taxlaw-9799	39	7	byzantine	byzantine	ADJ
taxlaw-9799	39	8	and	and	CCONJ
taxlaw-9799	39	9	the	the	DET
taxlaw-9799	39	10	stakes	stake	NOUN
taxlaw-9799	39	11	are	be	AUX
taxlaw-9799	39	12	exceptionally	exceptionally	ADV
taxlaw-9799	39	13	high	high	ADJ
taxlaw-9799	39	14	,	,	PUNCT
taxlaw-9799	39	15	conglomerates	conglomerate	NOUN
taxlaw-9799	39	16	wishing	wish	VERB
taxlaw-9799	39	17	to	to	PART
taxlaw-9799	39	18	spin	spin	VERB
taxlaw-9799	39	19	off	off	ADP
taxlaw-9799	39	20	business	business	NOUN
taxlaw-9799	39	21	units	unit	NOUN
taxlaw-9799	39	22	usually	usually	ADV
taxlaw-9799	39	23	manage	manage	VERB
taxlaw-9799	39	24	to	to	PART
taxlaw-9799	39	25	satisfy	satisfy	VERB
taxlaw-9799	39	26	the	the	DET
taxlaw-9799	39	27	requirements	requirement	NOUN
taxlaw-9799	39	28	.	.	PUNCT
taxlaw-9799	40	1	therefore	therefore	ADV
taxlaw-9799	40	2	,	,	PUNCT
taxlaw-9799	40	3	although	although	SCONJ
taxlaw-9799	40	4	u.s	u.s	PROPN
taxlaw-9799	40	5	.	.	PROPN
taxlaw-9799	40	6	tax	tax	NOUN
taxlaw-9799	40	7	law	law	NOUN
taxlaw-9799	40	8	does	do	AUX
taxlaw-9799	40	9	not	not	PART
taxlaw-9799	40	10	completely	completely	ADV
taxlaw-9799	40	11	hinder	hinder	VERB
taxlaw-9799	40	12	deconglomeration	deconglomeration	NOUN
taxlaw-9799	40	13	,	,	PUNCT
taxlaw-9799	40	14	spin	spin	NOUN
taxlaw-9799	40	15	-	-	PUNCT
taxlaw-9799	40	16	offs	off	NOUN
taxlaw-9799	40	17	are	be	AUX
taxlaw-9799	40	18	costly	costly	ADJ
taxlaw-9799	40	19	.	.	PUNCT
taxlaw-9799	41	1	to	to	PART
taxlaw-9799	41	2	satisfy	satisfy	VERB
taxlaw-9799	41	3	the	the	DET
taxlaw-9799	41	4	rules	rule	NOUN
taxlaw-9799	41	5	,	,	PUNCT
taxlaw-9799	41	6	companies	company	NOUN
taxlaw-9799	41	7	must	must	AUX
taxlaw-9799	41	8	usually	usually	ADV
taxlaw-9799	41	9	restructure	restructure	VERB
taxlaw-9799	41	10	in	in	ADP
taxlaw-9799	41	11	preparation	preparation	NOUN
taxlaw-9799	41	12	for	for	ADP
taxlaw-9799	41	13	a	a	DET
taxlaw-9799	41	14	spin	spin	NOUN
taxlaw-9799	41	15	-	-	PUNCT
taxlaw-9799	41	16	off	off	NOUN
taxlaw-9799	41	17	.	.	PUNCT
taxlaw-9799	42	1	pre	pre	ADJ
taxlaw-9799	42	2	-	-	ADJ
taxlaw-9799	42	3	spin	spin	VERB
taxlaw-9799	42	4	-	-	PUNCT
taxlaw-9799	42	5	off	off	ADP
taxlaw-9799	42	6	restructuring	restructuring	NOUN
taxlaw-9799	42	7	is	be	AUX
taxlaw-9799	42	8	expensive	expensive	ADJ
taxlaw-9799	42	9	because	because	SCONJ
taxlaw-9799	42	10	of	of	ADP
taxlaw-9799	42	11	the	the	DET
taxlaw-9799	42	12	delays	delay	NOUN
taxlaw-9799	42	13	and	and	CCONJ
taxlaw-9799	42	14	friction	friction	NOUN
taxlaw-9799	42	15	costs	cost	NOUN
taxlaw-9799	42	16	that	that	PRON
taxlaw-9799	42	17	companies	company	NOUN
taxlaw-9799	42	18	must	must	AUX
taxlaw-9799	42	19	endure	endure	VERB
taxlaw-9799	42	20	.	.	PUNCT
taxlaw-9799	43	1	such	such	ADJ
taxlaw-9799	43	2	costs	cost	NOUN
taxlaw-9799	43	3	often	often	ADV
taxlaw-9799	43	4	include	include	VERB
taxlaw-9799	43	5	consultations	consultation	NOUN
taxlaw-9799	43	6	with	with	ADP
taxlaw-9799	43	7	outside	outside	ADJ
taxlaw-9799	43	8	legal	legal	ADJ
taxlaw-9799	43	9	and	and	CCONJ
taxlaw-9799	43	10	accounting	accounting	NOUN
taxlaw-9799	43	11	experts	expert	NOUN
taxlaw-9799	43	12	followed	follow	VERB
taxlaw-9799	43	13	by	by	ADP
taxlaw-9799	43	14	lengthy	lengthy	ADJ
taxlaw-9799	43	15	and	and	CCONJ
taxlaw-9799	43	16	expensive	expensive	ADJ
taxlaw-9799	43	17	internal	internal	ADJ
taxlaw-9799	43	18	restructuring	restructuring	NOUN
taxlaw-9799	43	19	to	to	PART
taxlaw-9799	43	20	comply	comply	VERB
taxlaw-9799	43	21	with	with	ADP
taxlaw-9799	43	22	their	their	PRON
taxlaw-9799	43	23	advice	advice	NOUN
taxlaw-9799	43	24	.	.	PUNCT
taxlaw-9799	44	1	thus	thus	ADV
taxlaw-9799	44	2	,	,	PUNCT
taxlaw-9799	44	3	the	the	DET
taxlaw-9799	44	4	tax	tax	NOUN
taxlaw-9799	44	5	rules	rule	NOUN
taxlaw-9799	44	6	related	relate	VERB
taxlaw-9799	44	7	to	to	ADP
taxlaw-9799	44	8	spin	spin	NOUN
taxlaw-9799	44	9	-	-	PUNCT
taxlaw-9799	44	10	offs	off	NOUN
taxlaw-9799	44	11	lead	lead	NOUN
taxlaw-9799	44	12	to	to	ADP
taxlaw-9799	44	13	inefficiencies	inefficiency	NOUN
taxlaw-9799	44	14	and	and	CCONJ
taxlaw-9799	44	15	economic	economic	ADJ
taxlaw-9799	44	16	distortions	distortion	NOUN
taxlaw-9799	44	17	as	as	SCONJ
taxlaw-9799	44	18	conglomerates	conglomerate	NOUN
taxlaw-9799	44	19	undergo	undergo	VERB
taxlaw-9799	44	20	complex	complex	ADJ
taxlaw-9799	44	21	restructurings	restructuring	NOUN
taxlaw-9799	44	22	in	in	ADP
taxlaw-9799	44	23	an	an	DET
taxlaw-9799	44	24	attempt	attempt	NOUN
taxlaw-9799	44	25	to	to	PART
taxlaw-9799	44	26	satisfy	satisfy	VERB
taxlaw-9799	44	27	their	their	PRON
taxlaw-9799	44	28	myriad	myriad	ADJ
taxlaw-9799	44	29	requirements	requirement	NOUN
taxlaw-9799	44	30	.	.	PUNCT
taxlaw-9799	45	1	i.	i.	PROPN
taxlaw-9799	45	2	the	the	DET
taxlaw-9799	45	3	problems	problem	NOUN
taxlaw-9799	45	4	with	with	ADP
taxlaw-9799	45	5	conglomeration	conglomeration	NOUN
taxlaw-9799	45	6	conglomerates	conglomerate	NOUN
taxlaw-9799	45	7	are	be	AUX
taxlaw-9799	45	8	companies	company	NOUN
taxlaw-9799	45	9	—	—	PUNCT
taxlaw-9799	45	10	usually	usually	ADV
taxlaw-9799	45	11	corporations	corporation	NOUN
taxlaw-9799	45	12	—	—	PUNCT
taxlaw-9799	45	13	comprised	comprise	VERB
taxlaw-9799	45	14	of	of	ADP
taxlaw-9799	45	15	multiple	multiple	ADJ
taxlaw-9799	45	16	businesses	business	NOUN
taxlaw-9799	45	17	.	.	PUNCT
taxlaw-9799	46	1	a	a	DET
taxlaw-9799	46	2	conglomerate	conglomerate	NOUN
taxlaw-9799	46	3	develops	develop	VERB
taxlaw-9799	46	4	when	when	SCONJ
taxlaw-9799	46	5	a	a	DET
taxlaw-9799	46	6	parent	parent	NOUN
taxlaw-9799	46	7	company	company	NOUN
taxlaw-9799	46	8	begins	begin	VERB
taxlaw-9799	46	9	to	to	PART
taxlaw-9799	46	10	acquire	acquire	VERB
taxlaw-9799	46	11	a	a	DET
taxlaw-9799	46	12	controlling	control	VERB
taxlaw-9799	46	13	stake	stake	NOUN
taxlaw-9799	46	14	in	in	ADP
taxlaw-9799	46	15	various	various	ADJ
taxlaw-9799	46	16	smaller	small	ADJ
taxlaw-9799	46	17	subsidiary	subsidiary	NOUN
taxlaw-9799	46	18	companies.4	companies.4	PROPN
taxlaw-9799	46	19	conglomeration	conglomeration	NOUN
taxlaw-9799	46	20	can	can	AUX
taxlaw-9799	46	21	occur	occur	VERB
taxlaw-9799	46	22	quickly	quickly	ADV
taxlaw-9799	46	23	as	as	ADP
taxlaw-9799	46	24	a	a	DET
taxlaw-9799	46	25	result	result	NOUN
taxlaw-9799	46	26	of	of	ADP
taxlaw-9799	46	27	a	a	DET
taxlaw-9799	46	28	rapid	rapid	ADJ
taxlaw-9799	46	29	succession	succession	NOUN
taxlaw-9799	46	30	of	of	ADP
taxlaw-9799	46	31	merger	merger	NOUN
taxlaw-9799	46	32	-	-	PUNCT
taxlaw-9799	46	33	andacquisition	andacquisition	NOUN
taxlaw-9799	46	34	activity	activity	NOUN
taxlaw-9799	46	35	,	,	PUNCT
taxlaw-9799	46	36	or	or	CCONJ
taxlaw-9799	46	37	slowly	slowly	ADV
taxlaw-9799	46	38	through	through	ADP
taxlaw-9799	46	39	steady	steady	ADJ
taxlaw-9799	46	40	acquisitions	acquisition	NOUN
taxlaw-9799	46	41	over	over	ADP
taxlaw-9799	46	42	the	the	DET
taxlaw-9799	46	43	span	span	NOUN
taxlaw-9799	46	44	of	of	ADP
taxlaw-9799	46	45	many	many	ADJ
taxlaw-9799	46	46	decades	decade	NOUN
taxlaw-9799	46	47	.	.	PUNCT
taxlaw-9799	47	1	although	although	SCONJ
taxlaw-9799	47	2	each	each	DET
taxlaw-9799	47	3	subsidiary	subsidiary	NOUN
taxlaw-9799	47	4	’s	’s	PART
taxlaw-9799	47	5	managers	manager	NOUN
taxlaw-9799	47	6	typically	typically	ADV
taxlaw-9799	47	7	report	report	VERB
taxlaw-9799	47	8	to	to	ADP
taxlaw-9799	47	9	the	the	DET
taxlaw-9799	47	10	senior	senior	ADJ
taxlaw-9799	47	11	management	management	NOUN
taxlaw-9799	47	12	of	of	ADP
taxlaw-9799	47	13	the	the	DET
taxlaw-9799	47	14	parent	parent	NOUN
taxlaw-9799	47	15	,	,	PUNCT
taxlaw-9799	47	16	each	each	DET
taxlaw-9799	47	17	conglomerate	conglomerate	NOUN
taxlaw-9799	47	18	subsidiary	subsidiary	NOUN
taxlaw-9799	47	19	tends	tend	VERB
taxlaw-9799	47	20	to	to	PART
taxlaw-9799	47	21	conduct	conduct	VERB
taxlaw-9799	47	22	its	its	PRON
taxlaw-9799	47	23	business	business	NOUN
taxlaw-9799	47	24	operations	operation	NOUN
taxlaw-9799	47	25	more	more	ADV
taxlaw-9799	47	26	or	or	CCONJ
taxlaw-9799	47	27	less	less	ADV
taxlaw-9799	47	28	independently	independently	ADV
taxlaw-9799	47	29	of	of	ADP
taxlaw-9799	47	30	the	the	DET
taxlaw-9799	47	31	parent	parent	NOUN
taxlaw-9799	47	32	,	,	PUNCT
taxlaw-9799	47	33	usually	usually	ADV
taxlaw-9799	47	34	with	with	ADP
taxlaw-9799	47	35	separate	separate	ADJ
taxlaw-9799	47	36	boards	board	NOUN
taxlaw-9799	47	37	of	of	ADP
taxlaw-9799	47	38	directors.5	directors.5	PROPN
taxlaw-9799	47	39	the	the	DET
taxlaw-9799	47	40	aggregation	aggregation	NOUN
taxlaw-9799	47	41	of	of	ADP
taxlaw-9799	47	42	multiple	multiple	ADJ
taxlaw-9799	47	43	subsidiaries	subsidiary	NOUN
taxlaw-9799	47	44	frequently	frequently	ADV
taxlaw-9799	47	45	renders	render	VERB
taxlaw-9799	47	46	conglomerates	conglomerate	NOUN
taxlaw-9799	47	47	large	large	ADJ
taxlaw-9799	47	48	and	and	CCONJ
taxlaw-9799	47	49	multinational	multinational	ADJ
taxlaw-9799	47	50	.	.	PUNCT
taxlaw-9799	48	1	after	after	ADP
taxlaw-9799	48	2	world	world	PROPN
taxlaw-9799	48	3	war	war	PROPN
taxlaw-9799	48	4	ii	ii	PROPN
taxlaw-9799	48	5	,	,	PUNCT
taxlaw-9799	48	6	the	the	DET
taxlaw-9799	48	7	united	united	PROPN
taxlaw-9799	48	8	states	states	PROPN
taxlaw-9799	48	9	experienced	experience	VERB
taxlaw-9799	48	10	a	a	DET
taxlaw-9799	48	11	boom	boom	NOUN
taxlaw-9799	48	12	in	in	ADP
taxlaw-9799	48	13	merger	merger	NOUN
taxlaw-9799	48	14	-	-	PUNCT
taxlaw-9799	48	15	andacquisition	andacquisition	NOUN
taxlaw-9799	48	16	activity	activity	NOUN
taxlaw-9799	48	17	that	that	PRON
taxlaw-9799	48	18	led	lead	VERB
taxlaw-9799	48	19	to	to	ADP
taxlaw-9799	48	20	the	the	DET
taxlaw-9799	48	21	rapid	rapid	ADJ
taxlaw-9799	48	22	creation	creation	NOUN
taxlaw-9799	48	23	of	of	ADP
taxlaw-9799	48	24	numerous	numerous	ADJ
taxlaw-9799	48	25	conglomerates	conglomerate	NOUN
taxlaw-9799	48	26	.	.	PUNCT
taxlaw-9799	49	1	many	many	ADJ
taxlaw-9799	49	2	companies	company	NOUN
taxlaw-9799	49	3	justified	justify	VERB
taxlaw-9799	49	4	their	their	PRON
taxlaw-9799	49	5	shift	shift	NOUN
taxlaw-9799	49	6	toward	toward	ADP
taxlaw-9799	49	7	conglomeration	conglomeration	NOUN
taxlaw-9799	49	8	as	as	ADP
taxlaw-9799	49	9	a	a	DET
taxlaw-9799	49	10	means	means	NOUN
taxlaw-9799	49	11	of	of	ADP
taxlaw-9799	49	12	growth	growth	NOUN
taxlaw-9799	49	13	and	and	CCONJ
taxlaw-9799	49	14	value	value	NOUN
taxlaw-9799	49	15	enhancement	enhancement	NOUN
taxlaw-9799	49	16	.	.	PUNCT
taxlaw-9799	50	1	proponents	proponent	NOUN
taxlaw-9799	50	2	of	of	ADP
taxlaw-9799	50	3	conglomeration	conglomeration	NOUN
taxlaw-9799	50	4	cited	cite	VERB
taxlaw-9799	50	5	four	four	NUM
taxlaw-9799	50	6	main	main	ADJ
taxlaw-9799	50	7	arguments	argument	NOUN
taxlaw-9799	50	8	in	in	ADP
taxlaw-9799	50	9	favor	favor	NOUN
taxlaw-9799	50	10	of	of	ADP
taxlaw-9799	50	11	such	such	ADJ
taxlaw-9799	50	12	expansion	expansion	NOUN
taxlaw-9799	50	13	.	.	PUNCT
taxlaw-9799	51	1	first	first	ADV
taxlaw-9799	51	2	,	,	PUNCT
taxlaw-9799	51	3	managers	manager	NOUN
taxlaw-9799	51	4	of	of	ADP
taxlaw-9799	51	5	conglomerates	conglomerate	NOUN
taxlaw-9799	51	6	believed	believe	VERB
taxlaw-9799	51	7	in	in	ADP
taxlaw-9799	51	8	the	the	DET
taxlaw-9799	51	9	virtue	virtue	NOUN
taxlaw-9799	51	10	of	of	ADP
taxlaw-9799	51	11	diversification	diversification	NOUN
taxlaw-9799	51	12	at	at	ADP
taxlaw-9799	51	13	the	the	DET
taxlaw-9799	51	14	firm	firm	ADJ
taxlaw-9799	51	15	level	level	NOUN
taxlaw-9799	51	16	.	.	PUNCT
taxlaw-9799	52	1	this	this	PRON
taxlaw-9799	52	2	was	be	AUX
taxlaw-9799	52	3	also	also	ADV
taxlaw-9799	52	4	known	know	VERB
taxlaw-9799	52	5	as	as	ADP
taxlaw-9799	52	6	the	the	DET
taxlaw-9799	52	7	“	"	PUNCT
taxlaw-9799	52	8	portfolio	portfolio	NOUN
taxlaw-9799	52	9	”	"	PUNCT
taxlaw-9799	52	10	effect	effect	NOUN
taxlaw-9799	52	11	of	of	ADP
taxlaw-9799	52	12	conglomeration.6	conglomeration.6	NOUN
taxlaw-9799	52	13	conglomerate	conglomerate	NOUN
taxlaw-9799	52	14	managers	manager	NOUN
taxlaw-9799	52	15	claimed	claim	VERB
taxlaw-9799	52	16	to	to	PART
taxlaw-9799	52	17	have	have	VERB
taxlaw-9799	52	18	superior	superior	ADJ
taxlaw-9799	52	19	abilities	ability	NOUN
taxlaw-9799	52	20	vis	vis	X
taxlaw-9799	52	21	-	-	PUNCT
taxlaw-9799	52	22	à	à	X
taxlaw-9799	52	23	-	-	PUNCT
taxlaw-9799	52	24	vis	vis	X
taxlaw-9799	52	25	investors	investor	NOUN
taxlaw-9799	52	26	when	when	SCONJ
taxlaw-9799	52	27	it	it	PRON
taxlaw-9799	52	28	came	come	VERB
taxlaw-9799	52	29	to	to	ADP
taxlaw-9799	52	30	monitoring	monitor	VERB
taxlaw-9799	52	31	and	and	CCONJ
taxlaw-9799	52	32	allocating	allocate	VERB
taxlaw-9799	52	33	resources	resource	NOUN
taxlaw-9799	52	34	to	to	ADP
taxlaw-9799	52	35	promising	promise	VERB
taxlaw-9799	52	36	new	new	ADJ
taxlaw-9799	52	37	projects	project	NOUN
taxlaw-9799	52	38	.	.	PUNCT
taxlaw-9799	53	1	by	by	ADP
taxlaw-9799	53	2	participating	participate	VERB
taxlaw-9799	53	3	in	in	ADP
taxlaw-9799	53	4	different	different	ADJ
taxlaw-9799	53	5	,	,	PUNCT
taxlaw-9799	53	6	often	often	ADV
taxlaw-9799	53	7	unrelated	unrelated	ADJ
taxlaw-9799	53	8	markets	market	NOUN
taxlaw-9799	53	9	that	that	PRON
taxlaw-9799	53	10	offered	offer	VERB
taxlaw-9799	53	11	uncorrelated	uncorrelated	ADJ
taxlaw-9799	53	12	revenue	revenue	NOUN
taxlaw-9799	53	13	streams	stream	NOUN
taxlaw-9799	53	14	,	,	PUNCT
taxlaw-9799	53	15	conglomerates	conglomerate	NOUN
taxlaw-9799	53	16	could	could	AUX
taxlaw-9799	53	17	dispel	dispel	VERB
taxlaw-9799	53	18	the	the	DET
taxlaw-9799	53	19	risks	risk	NOUN
taxlaw-9799	53	20	of	of	ADP
taxlaw-9799	53	21	cyclical	cyclical	ADJ
taxlaw-9799	53	22	downturns	downturn	NOUN
taxlaw-9799	53	23	in	in	ADP
taxlaw-9799	53	24	a	a	DET
taxlaw-9799	53	25	single	single	ADJ
taxlaw-9799	53	26	business	business	NOUN
taxlaw-9799	53	27	.	.	PUNCT
taxlaw-9799	54	1	thus	thus	ADV
taxlaw-9799	54	2	,	,	PUNCT
taxlaw-9799	54	3	a	a	DET
taxlaw-9799	54	4	well	well	ADV
taxlaw-9799	54	5	-	-	PUNCT
taxlaw-9799	54	6	performing	perform	VERB
taxlaw-9799	54	7	subsidiary	subsidiary	NOUN
taxlaw-9799	54	8	’s	’s	PART
taxlaw-9799	54	9	gains	gain	NOUN
taxlaw-9799	54	10	could	could	AUX
taxlaw-9799	54	11	offset	offset	VERB
taxlaw-9799	54	12	the	the	DET
taxlaw-9799	54	13	losses	loss	NOUN
taxlaw-9799	54	14	of	of	ADP
taxlaw-9799	54	15	a	a	DET
taxlaw-9799	54	16	subsidiary	subsidiary	NOUN
taxlaw-9799	54	17	that	that	PRON
taxlaw-9799	54	18	was	be	AUX
taxlaw-9799	54	19	performing	perform	VERB
taxlaw-9799	54	20	poorly	poorly	ADV
taxlaw-9799	54	21	.	.	PUNCT
taxlaw-9799	55	1	4	4	NUM
taxlaw-9799	55	2	james	james	PROPN
taxlaw-9799	55	3	chen	chen	PROPN
taxlaw-9799	55	4	,	,	PUNCT
taxlaw-9799	55	5	conglomerate	conglomerate	NOUN
taxlaw-9799	55	6	,	,	PUNCT
taxlaw-9799	55	7	investopedia	investopedia	PROPN
taxlaw-9799	55	8	(	(	PUNCT
taxlaw-9799	55	9	dec	dec	PROPN
taxlaw-9799	55	10	.	.	PROPN
taxlaw-9799	55	11	23	23	NUM
taxlaw-9799	55	12	,	,	PUNCT
taxlaw-9799	55	13	2021	2021	NUM
taxlaw-9799	55	14	)	)	PUNCT
taxlaw-9799	55	15	,	,	PUNCT
taxlaw-9799	55	16	https://www.investopedia.com/terms/c/conglomerate.asp	https://www.investopedia.com/terms/c/conglomerate.asp	PROPN
taxlaw-9799	55	17	[	[	X
taxlaw-9799	55	18	https://perma.cc/lmt8-ynb5	https://perma.cc/lmt8-ynb5	X
taxlaw-9799	55	19	]	]	X
taxlaw-9799	55	20	.	.	PUNCT
taxlaw-9799	55	21	5	5	NUM
taxlaw-9799	55	22	i	i	PRON
taxlaw-9799	55	23	d.	d.	PROPN
taxlaw-9799	55	24	6	6	NUM
taxlaw-9799	55	25	see	see	VERB
taxlaw-9799	55	26	gary	gary	PROPN
taxlaw-9799	55	27	t.	t.	PROPN
taxlaw-9799	55	28	haight	haight	PROPN
taxlaw-9799	55	29	,	,	PUNCT
taxlaw-9799	55	30	the	the	DET
taxlaw-9799	55	31	portfolio	portfolio	NOUN
taxlaw-9799	55	32	merger	merger	NOUN
taxlaw-9799	55	33	:	:	PUNCT
taxlaw-9799	55	34	finding	find	VERB
taxlaw-9799	55	35	the	the	DET
taxlaw-9799	55	36	company	company	NOUN
taxlaw-9799	55	37	that	that	PRON
taxlaw-9799	55	38	can	can	AUX
taxlaw-9799	55	39	stabilize	stabilize	VERB
taxlaw-9799	55	40	your	your	PRON
taxlaw-9799	55	41	earnings	earning	NOUN
taxlaw-9799	55	42	,	,	PUNCT
taxlaw-9799	55	43	16	16	NUM
taxlaw-9799	55	44	mergers	merger	NOUN
taxlaw-9799	55	45	&	&	CCONJ
taxlaw-9799	55	46	acquisitions	acquisition	NOUN
taxlaw-9799	55	47	33	33	NUM
taxlaw-9799	55	48	-	-	SYM
taxlaw-9799	55	49	34	34	NUM
taxlaw-9799	55	50	(	(	PUNCT
taxlaw-9799	55	51	1981	1981	NUM
taxlaw-9799	55	52	)	)	PUNCT
taxlaw-9799	55	53	(	(	PUNCT
taxlaw-9799	55	54	describing	describe	VERB
taxlaw-9799	55	55	the	the	DET
taxlaw-9799	55	56	“	"	PUNCT
taxlaw-9799	55	57	portfolio	portfolio	NOUN
taxlaw-9799	55	58	”	"	PUNCT
taxlaw-9799	55	59	effect	effect	NOUN
taxlaw-9799	55	60	as	as	ADP
taxlaw-9799	55	61	an	an	DET
taxlaw-9799	55	62	“	"	PUNCT
taxlaw-9799	55	63	acquisition	acquisition	NOUN
taxlaw-9799	55	64	benefit	benefit	NOUN
taxlaw-9799	55	65	”	"	PUNCT
taxlaw-9799	55	66	)	)	PUNCT
taxlaw-9799	55	67	.	.	PUNCT
taxlaw-9799	56	1	2022	2022	NUM
taxlaw-9799	56	2	]	]	PUNCT
taxlaw-9799	56	3	conglomerate	conglomerate	NOUN
taxlaw-9799	56	4	spin	spin	NOUN
taxlaw-9799	56	5	-	-	PUNCT
taxlaw-9799	56	6	offs	off	NOUN
taxlaw-9799	56	7	168	168	NUM
taxlaw-9799	56	8	second	second	ADJ
taxlaw-9799	56	9	,	,	PUNCT
taxlaw-9799	56	10	conglomerates	conglomerate	NOUN
taxlaw-9799	56	11	provided	provide	VERB
taxlaw-9799	56	12	access	access	NOUN
taxlaw-9799	56	13	to	to	ADP
taxlaw-9799	56	14	internal	internal	ADJ
taxlaw-9799	56	15	capital	capital	NOUN
taxlaw-9799	56	16	markets	market	NOUN
taxlaw-9799	56	17	and	and	CCONJ
taxlaw-9799	56	18	internal	internal	ADJ
taxlaw-9799	56	19	labor	labor	NOUN
taxlaw-9799	56	20	markets	market	NOUN
taxlaw-9799	56	21	.	.	PUNCT
taxlaw-9799	57	1	if	if	SCONJ
taxlaw-9799	57	2	external	external	ADJ
taxlaw-9799	57	3	capital	capital	NOUN
taxlaw-9799	57	4	markets	market	NOUN
taxlaw-9799	57	5	offered	offer	VERB
taxlaw-9799	57	6	unfavorable	unfavorable	ADJ
taxlaw-9799	57	7	rates	rate	NOUN
taxlaw-9799	57	8	,	,	PUNCT
taxlaw-9799	57	9	a	a	DET
taxlaw-9799	57	10	conglomerate	conglomerate	NOUN
taxlaw-9799	57	11	could	could	AUX
taxlaw-9799	57	12	rely	rely	VERB
taxlaw-9799	57	13	on	on	ADP
taxlaw-9799	57	14	the	the	DET
taxlaw-9799	57	15	size	size	NOUN
taxlaw-9799	57	16	and	and	CCONJ
taxlaw-9799	57	17	breadth	breadth	NOUN
taxlaw-9799	57	18	of	of	ADP
taxlaw-9799	57	19	its	its	PRON
taxlaw-9799	57	20	portfolio	portfolio	NOUN
taxlaw-9799	57	21	of	of	ADP
taxlaw-9799	57	22	subsidiaries	subsidiary	NOUN
taxlaw-9799	57	23	to	to	PART
taxlaw-9799	57	24	allocate	allocate	VERB
taxlaw-9799	57	25	capital	capital	NOUN
taxlaw-9799	57	26	through	through	ADP
taxlaw-9799	57	27	private	private	ADJ
taxlaw-9799	57	28	internal	internal	ADJ
taxlaw-9799	57	29	borrowing	borrowing	NOUN
taxlaw-9799	57	30	and	and	CCONJ
taxlaw-9799	57	31	lending	lending	NOUN
taxlaw-9799	57	32	contracts	contract	NOUN
taxlaw-9799	57	33	at	at	ADP
taxlaw-9799	57	34	more	more	ADV
taxlaw-9799	57	35	favorable	favorable	ADJ
taxlaw-9799	57	36	rates	rate	NOUN
taxlaw-9799	57	37	or	or	CCONJ
taxlaw-9799	57	38	on	on	ADP
taxlaw-9799	57	39	more	more	ADV
taxlaw-9799	57	40	favorable	favorable	ADJ
taxlaw-9799	57	41	terms	term	NOUN
taxlaw-9799	57	42	than	than	SCONJ
taxlaw-9799	57	43	could	could	AUX
taxlaw-9799	57	44	be	be	AUX
taxlaw-9799	57	45	obtained	obtain	VERB
taxlaw-9799	57	46	through	through	ADP
taxlaw-9799	57	47	banks	bank	NOUN
taxlaw-9799	57	48	or	or	CCONJ
taxlaw-9799	57	49	stock	stock	NOUN
taxlaw-9799	57	50	and	and	CCONJ
taxlaw-9799	57	51	bond	bond	NOUN
taxlaw-9799	57	52	markets.7	markets.7	NOUN
taxlaw-9799	57	53	moreover	moreover	ADV
taxlaw-9799	57	54	,	,	PUNCT
taxlaw-9799	57	55	as	as	ADP
taxlaw-9799	57	56	an	an	DET
taxlaw-9799	57	57	internal	internal	ADJ
taxlaw-9799	57	58	labor	labor	NOUN
taxlaw-9799	57	59	market	market	NOUN
taxlaw-9799	57	60	,	,	PUNCT
taxlaw-9799	57	61	top	top	ADJ
taxlaw-9799	57	62	conglomerate	conglomerate	NOUN
taxlaw-9799	57	63	managers	manager	NOUN
taxlaw-9799	57	64	believed	believe	VERB
taxlaw-9799	57	65	that	that	SCONJ
taxlaw-9799	57	66	their	their	PRON
taxlaw-9799	57	67	expertise	expertise	NOUN
taxlaw-9799	57	68	in	in	ADP
taxlaw-9799	57	69	choosing	choose	VERB
taxlaw-9799	57	70	and	and	CCONJ
taxlaw-9799	57	71	replacing	replace	VERB
taxlaw-9799	57	72	divisional	divisional	ADJ
taxlaw-9799	57	73	managers	manager	NOUN
taxlaw-9799	57	74	exceeded	exceed	VERB
taxlaw-9799	57	75	the	the	DET
taxlaw-9799	57	76	expertise	expertise	NOUN
taxlaw-9799	57	77	of	of	ADP
taxlaw-9799	57	78	a	a	DET
taxlaw-9799	57	79	stand	stand	VERB
taxlaw-9799	57	80	-	-	PUNCT
taxlaw-9799	57	81	alone	alone	ADV
taxlaw-9799	57	82	firm	firm	NOUN
taxlaw-9799	57	83	’s	’s	PART
taxlaw-9799	57	84	board	board	NOUN
taxlaw-9799	57	85	of	of	ADP
taxlaw-9799	57	86	directors.8	directors.8	PROPN
taxlaw-9799	57	87	third	third	ADJ
taxlaw-9799	57	88	,	,	PUNCT
taxlaw-9799	57	89	horizontal	horizontal	ADJ
taxlaw-9799	57	90	and	and	CCONJ
taxlaw-9799	57	91	vertical	vertical	ADJ
taxlaw-9799	57	92	integration	integration	NOUN
taxlaw-9799	57	93	could	could	AUX
taxlaw-9799	57	94	help	help	VERB
taxlaw-9799	57	95	conglomerates	conglomerate	NOUN
taxlaw-9799	57	96	take	take	VERB
taxlaw-9799	57	97	advantage	advantage	NOUN
taxlaw-9799	57	98	of	of	ADP
taxlaw-9799	57	99	a	a	DET
taxlaw-9799	57	100	wealth	wealth	NOUN
taxlaw-9799	57	101	transfer	transfer	NOUN
taxlaw-9799	57	102	from	from	ADP
taxlaw-9799	57	103	consumers	consumer	NOUN
taxlaw-9799	57	104	to	to	ADP
taxlaw-9799	57	105	conglomerate	conglomerate	NOUN
taxlaw-9799	57	106	firms	firm	NOUN
taxlaw-9799	57	107	.	.	PUNCT
taxlaw-9799	58	1	the	the	DET
taxlaw-9799	58	2	acquisition	acquisition	NOUN
taxlaw-9799	58	3	of	of	ADP
taxlaw-9799	58	4	a	a	DET
taxlaw-9799	58	5	greater	great	ADJ
taxlaw-9799	58	6	share	share	NOUN
taxlaw-9799	58	7	of	of	ADP
taxlaw-9799	58	8	market	market	NOUN
taxlaw-9799	58	9	power	power	NOUN
taxlaw-9799	58	10	allowed	allow	VERB
taxlaw-9799	58	11	conglomerates	conglomerate	NOUN
taxlaw-9799	58	12	to	to	PART
taxlaw-9799	58	13	raise	raise	VERB
taxlaw-9799	58	14	their	their	PRON
taxlaw-9799	58	15	prices	price	NOUN
taxlaw-9799	58	16	at	at	ADP
taxlaw-9799	58	17	the	the	DET
taxlaw-9799	58	18	expense	expense	NOUN
taxlaw-9799	58	19	of	of	ADP
taxlaw-9799	58	20	consumers	consumer	NOUN
taxlaw-9799	58	21	.	.	PUNCT
taxlaw-9799	59	1	moreover	moreover	ADV
taxlaw-9799	59	2	,	,	PUNCT
taxlaw-9799	59	3	vertical	vertical	ADJ
taxlaw-9799	59	4	integration	integration	NOUN
taxlaw-9799	59	5	could	could	AUX
taxlaw-9799	59	6	result	result	VERB
taxlaw-9799	59	7	in	in	ADP
taxlaw-9799	59	8	a	a	DET
taxlaw-9799	59	9	reduction	reduction	NOUN
taxlaw-9799	59	10	of	of	ADP
taxlaw-9799	59	11	costs	cost	NOUN
taxlaw-9799	59	12	through	through	ADP
taxlaw-9799	59	13	the	the	DET
taxlaw-9799	59	14	exploitation	exploitation	NOUN
taxlaw-9799	59	15	of	of	ADP
taxlaw-9799	59	16	economies	economy	NOUN
taxlaw-9799	59	17	of	of	ADP
taxlaw-9799	59	18	scope	scope	NOUN
taxlaw-9799	59	19	—	—	PUNCT
taxlaw-9799	59	20	through	through	ADP
taxlaw-9799	59	21	which	which	PRON
taxlaw-9799	59	22	the	the	DET
taxlaw-9799	59	23	average	average	ADJ
taxlaw-9799	59	24	total	total	ADJ
taxlaw-9799	59	25	cost	cost	NOUN
taxlaw-9799	59	26	of	of	ADP
taxlaw-9799	59	27	production	production	NOUN
taxlaw-9799	59	28	decreases	decrease	NOUN
taxlaw-9799	59	29	because	because	SCONJ
taxlaw-9799	59	30	costs	cost	NOUN
taxlaw-9799	59	31	are	be	AUX
taxlaw-9799	59	32	spread	spread	VERB
taxlaw-9799	59	33	over	over	ADP
taxlaw-9799	59	34	a	a	DET
taxlaw-9799	59	35	variety	variety	NOUN
taxlaw-9799	59	36	of	of	ADP
taxlaw-9799	59	37	products	product	NOUN
taxlaw-9799	59	38	—	—	PUNCT
taxlaw-9799	59	39	and	and	CCONJ
taxlaw-9799	59	40	economies	economy	NOUN
taxlaw-9799	59	41	of	of	ADP
taxlaw-9799	59	42	scale	scale	NOUN
taxlaw-9799	59	43	—	—	PUNCT
taxlaw-9799	59	44	through	through	ADP
taxlaw-9799	59	45	which	which	PRON
taxlaw-9799	59	46	the	the	DET
taxlaw-9799	59	47	increased	increase	VERB
taxlaw-9799	59	48	output	output	NOUN
taxlaw-9799	59	49	of	of	ADP
taxlaw-9799	59	50	goods	good	NOUN
taxlaw-9799	59	51	or	or	CCONJ
taxlaw-9799	59	52	services	service	NOUN
taxlaw-9799	59	53	yields	yield	VERB
taxlaw-9799	59	54	a	a	DET
taxlaw-9799	59	55	further	further	ADJ
taxlaw-9799	59	56	cost	cost	NOUN
taxlaw-9799	59	57	advantage	advantage	NOUN
taxlaw-9799	59	58	.	.	PUNCT
taxlaw-9799	60	1	finally	finally	ADV
taxlaw-9799	60	2	,	,	PUNCT
taxlaw-9799	60	3	the	the	DET
taxlaw-9799	60	4	size	size	NOUN
taxlaw-9799	60	5	and	and	CCONJ
taxlaw-9799	60	6	interconnectedness	interconnectedness	NOUN
taxlaw-9799	60	7	of	of	ADP
taxlaw-9799	60	8	conglomerates	conglomerate	NOUN
taxlaw-9799	60	9	could	could	AUX
taxlaw-9799	60	10	provide	provide	VERB
taxlaw-9799	60	11	them	they	PRON
taxlaw-9799	60	12	with	with	ADP
taxlaw-9799	60	13	de	de	X
taxlaw-9799	60	14	facto	facto	X
taxlaw-9799	60	15	immunity	immunity	NOUN
taxlaw-9799	60	16	from	from	ADP
taxlaw-9799	60	17	takeovers	takeover	NOUN
taxlaw-9799	60	18	,	,	PUNCT
taxlaw-9799	60	19	as	as	ADV
taxlaw-9799	60	20	well	well	ADV
taxlaw-9799	60	21	as	as	ADP
taxlaw-9799	60	22	a	a	DET
taxlaw-9799	60	23	greater	great	ADJ
taxlaw-9799	60	24	likelihood	likelihood	NOUN
taxlaw-9799	60	25	of	of	ADP
taxlaw-9799	60	26	obtaining	obtain	VERB
taxlaw-9799	60	27	governmental	governmental	ADJ
taxlaw-9799	60	28	emergency	emergency	NOUN
taxlaw-9799	60	29	assistance	assistance	NOUN
taxlaw-9799	60	30	to	to	PART
taxlaw-9799	60	31	avoid	avoid	VERB
taxlaw-9799	60	32	receivership	receivership	NOUN
taxlaw-9799	60	33	or	or	CCONJ
taxlaw-9799	60	34	bankruptcy	bankruptcy	NOUN
taxlaw-9799	60	35	in	in	ADP
taxlaw-9799	60	36	the	the	DET
taxlaw-9799	60	37	event	event	NOUN
taxlaw-9799	60	38	of	of	ADP
taxlaw-9799	60	39	a	a	DET
taxlaw-9799	60	40	major	major	ADJ
taxlaw-9799	60	41	financial	financial	ADJ
taxlaw-9799	60	42	crisis	crisis	NOUN
taxlaw-9799	60	43	.	.	PUNCT
taxlaw-9799	61	1	as	as	SCONJ
taxlaw-9799	61	2	a	a	DET
taxlaw-9799	61	3	conglomerate	conglomerate	NOUN
taxlaw-9799	61	4	grew	grow	VERB
taxlaw-9799	61	5	larger	large	ADJ
taxlaw-9799	61	6	,	,	PUNCT
taxlaw-9799	61	7	its	its	PRON
taxlaw-9799	61	8	number	number	NOUN
taxlaw-9799	61	9	of	of	ADP
taxlaw-9799	61	10	potential	potential	ADJ
taxlaw-9799	61	11	acquirers	acquirer	NOUN
taxlaw-9799	61	12	tended	tend	VERB
taxlaw-9799	61	13	to	to	PART
taxlaw-9799	61	14	diminish	diminish	VERB
taxlaw-9799	61	15	because	because	SCONJ
taxlaw-9799	61	16	it	it	PRON
taxlaw-9799	61	17	became	become	VERB
taxlaw-9799	61	18	increasingly	increasingly	ADV
taxlaw-9799	61	19	more	more	ADV
taxlaw-9799	61	20	expensive	expensive	ADJ
taxlaw-9799	61	21	to	to	PART
taxlaw-9799	61	22	take	take	VERB
taxlaw-9799	61	23	over	over	ADP
taxlaw-9799	61	24	.	.	PUNCT
taxlaw-9799	62	1	conglomeration	conglomeration	NOUN
taxlaw-9799	62	2	shrinks	shrink	VERB
taxlaw-9799	62	3	the	the	DET
taxlaw-9799	62	4	pool	pool	NOUN
taxlaw-9799	62	5	of	of	ADP
taxlaw-9799	62	6	acquirers	acquirer	NOUN
taxlaw-9799	62	7	because	because	SCONJ
taxlaw-9799	62	8	only	only	ADV
taxlaw-9799	62	9	very	very	ADV
taxlaw-9799	62	10	large	large	ADJ
taxlaw-9799	62	11	companies	company	NOUN
taxlaw-9799	62	12	likely	likely	ADV
taxlaw-9799	62	13	would	would	AUX
taxlaw-9799	62	14	find	find	VERB
taxlaw-9799	62	15	themselves	themselves	PRON
taxlaw-9799	62	16	in	in	ADP
taxlaw-9799	62	17	a	a	DET
taxlaw-9799	62	18	position	position	NOUN
taxlaw-9799	62	19	to	to	PART
taxlaw-9799	62	20	bid	bid	VERB
taxlaw-9799	62	21	to	to	PART
taxlaw-9799	62	22	acquire	acquire	VERB
taxlaw-9799	62	23	a	a	DET
taxlaw-9799	62	24	gargantuan	gargantuan	ADJ
taxlaw-9799	62	25	conglomerate	conglomerate	NOUN
taxlaw-9799	62	26	.	.	PUNCT
taxlaw-9799	63	1	and	and	CCONJ
taxlaw-9799	63	2	,	,	PUNCT
taxlaw-9799	63	3	as	as	SCONJ
taxlaw-9799	63	4	the	the	DET
taxlaw-9799	63	5	financial	financial	ADJ
taxlaw-9799	63	6	crisis	crisis	NOUN
taxlaw-9799	63	7	of	of	ADP
taxlaw-9799	63	8	2007	2007	NUM
taxlaw-9799	63	9	-	-	SYM
taxlaw-9799	63	10	2009	2009	NUM
taxlaw-9799	63	11	showed	show	VERB
taxlaw-9799	63	12	,	,	PUNCT
taxlaw-9799	63	13	the	the	PRON
taxlaw-9799	63	14	larger	large	ADJ
taxlaw-9799	63	15	and	and	CCONJ
taxlaw-9799	63	16	more	more	ADV
taxlaw-9799	63	17	interconnected	interconnected	ADJ
taxlaw-9799	63	18	the	the	DET
taxlaw-9799	63	19	systemically	systemically	ADV
taxlaw-9799	63	20	important	important	ADJ
taxlaw-9799	63	21	conglomerate	conglomerate	NOUN
taxlaw-9799	63	22	—	—	PUNCT
taxlaw-9799	63	23	like	like	ADP
taxlaw-9799	63	24	aig	aig	PROPN
taxlaw-9799	63	25	or	or	CCONJ
taxlaw-9799	63	26	citigroup	citigroup	NOUN
taxlaw-9799	63	27	—	—	PUNCT
taxlaw-9799	63	28	the	the	PRON
taxlaw-9799	63	29	more	more	ADV
taxlaw-9799	63	30	concerned	concerned	ADJ
taxlaw-9799	63	31	the	the	DET
taxlaw-9799	63	32	regulatory	regulatory	ADJ
taxlaw-9799	63	33	authorities	authority	NOUN
taxlaw-9799	63	34	became	become	VERB
taxlaw-9799	63	35	in	in	ADP
taxlaw-9799	63	36	offering	offer	VERB
taxlaw-9799	63	37	emergency	emergency	NOUN
taxlaw-9799	63	38	support	support	NOUN
taxlaw-9799	63	39	to	to	PART
taxlaw-9799	63	40	prevent	prevent	VERB
taxlaw-9799	63	41	its	its	PRON
taxlaw-9799	63	42	downfall	downfall	NOUN
taxlaw-9799	63	43	.	.	PUNCT
taxlaw-9799	64	1	failure	failure	NOUN
taxlaw-9799	64	2	of	of	ADP
taxlaw-9799	64	3	a	a	DET
taxlaw-9799	64	4	systematically	systematically	ADV
taxlaw-9799	64	5	important	important	ADJ
taxlaw-9799	64	6	financial	financial	ADJ
taxlaw-9799	64	7	conglomerate	conglomerate	NOUN
taxlaw-9799	64	8	could	could	AUX
taxlaw-9799	64	9	unleash	unleash	VERB
taxlaw-9799	64	10	havoc	havoc	NOUN
taxlaw-9799	64	11	on	on	ADP
taxlaw-9799	64	12	both	both	CCONJ
taxlaw-9799	64	13	the	the	DET
taxlaw-9799	64	14	domestic	domestic	ADJ
taxlaw-9799	64	15	and	and	CCONJ
taxlaw-9799	64	16	global	global	ADJ
taxlaw-9799	64	17	economies.9	economies.9	PROPN
taxlaw-9799	64	18	in	in	ADP
taxlaw-9799	64	19	recent	recent	ADJ
taxlaw-9799	64	20	decades	decade	NOUN
taxlaw-9799	64	21	,	,	PUNCT
taxlaw-9799	64	22	however	however	ADV
taxlaw-9799	64	23	,	,	PUNCT
taxlaw-9799	64	24	there	there	PRON
taxlaw-9799	64	25	has	have	AUX
taxlaw-9799	64	26	been	be	AUX
taxlaw-9799	64	27	growing	grow	VERB
taxlaw-9799	64	28	consensus	consensus	NOUN
taxlaw-9799	64	29	among	among	ADP
taxlaw-9799	64	30	economists	economist	NOUN
taxlaw-9799	64	31	and	and	CCONJ
taxlaw-9799	64	32	academics	academic	NOUN
taxlaw-9799	64	33	that	that	SCONJ
taxlaw-9799	64	34	the	the	DET
taxlaw-9799	64	35	conglomerate	conglomerate	NOUN
taxlaw-9799	64	36	form	form	NOUN
taxlaw-9799	64	37	was	be	AUX
taxlaw-9799	64	38	operationally	operationally	ADV
taxlaw-9799	64	39	inefficient	inefficient	ADJ
taxlaw-9799	64	40	and	and	CCONJ
taxlaw-9799	64	41	ultimately	ultimately	ADV
taxlaw-9799	64	42	costly	costly	ADJ
taxlaw-9799	64	43	for	for	ADP
taxlaw-9799	64	44	shareholders	shareholder	NOUN
taxlaw-9799	64	45	.	.	PUNCT
taxlaw-9799	65	1	the	the	DET
taxlaw-9799	65	2	disastrous	disastrous	ADJ
taxlaw-9799	65	3	merger	merger	NOUN
taxlaw-9799	65	4	of	of	ADP
taxlaw-9799	65	5	america	america	PROPN
taxlaw-9799	65	6	online	online	PROPN
taxlaw-9799	65	7	and	and	CCONJ
taxlaw-9799	65	8	time	time	NOUN
taxlaw-9799	65	9	warner	warner	PROPN
taxlaw-9799	65	10	in	in	ADP
taxlaw-9799	65	11	2000	2000	NUM
taxlaw-9799	65	12	is	be	AUX
taxlaw-9799	65	13	a	a	DET
taxlaw-9799	65	14	not	not	PART
taxlaw-9799	65	15	-	-	PUNCT
taxlaw-9799	65	16	so	so	ADV
taxlaw-9799	65	17	-	-	PUNCT
taxlaw-9799	65	18	distant	distant	ADJ
taxlaw-9799	65	19	cautionary	cautionary	ADJ
taxlaw-9799	65	20	tale	tale	NOUN
taxlaw-9799	65	21	of	of	ADP
taxlaw-9799	65	22	the	the	DET
taxlaw-9799	65	23	risks	risk	NOUN
taxlaw-9799	65	24	of	of	ADP
taxlaw-9799	65	25	conglomeration.10	conglomeration.10	NOUN
taxlaw-9799	65	26	there	there	PRON
taxlaw-9799	65	27	is	be	VERB
taxlaw-9799	65	28	strong	strong	ADJ
taxlaw-9799	65	29	evidence	evidence	NOUN
taxlaw-9799	65	30	that	that	SCONJ
taxlaw-9799	65	31	many	many	ADJ
taxlaw-9799	65	32	conglomerate	conglomerate	NOUN
taxlaw-9799	65	33	acquisitions	acquisition	NOUN
taxlaw-9799	65	34	7	7	NUM
taxlaw-9799	65	35	see	see	VERB
taxlaw-9799	65	36	ronald	ronald	PROPN
taxlaw-9799	65	37	j.	j.	PROPN
taxlaw-9799	65	38	gilson	gilson	PROPN
taxlaw-9799	65	39	et	et	PROPN
taxlaw-9799	65	40	al	al	PROPN
taxlaw-9799	65	41	.	.	PROPN
taxlaw-9799	65	42	,	,	PUNCT
taxlaw-9799	65	43	the	the	DET
taxlaw-9799	65	44	law	law	NOUN
taxlaw-9799	65	45	and	and	CCONJ
taxlaw-9799	65	46	finance	finance	NOUN
taxlaw-9799	65	47	of	of	ADP
taxlaw-9799	65	48	corporate	corporate	ADJ
taxlaw-9799	65	49	acquisitions	acquisition	NOUN
taxlaw-9799	66	1	319	319	NUM
taxlaw-9799	66	2	(	(	PUNCT
taxlaw-9799	66	3	3d	3d	NUM
taxlaw-9799	66	4	.	.	PUNCT
taxlaw-9799	67	1	ed	ed	NOUN
taxlaw-9799	67	2	.	.	PUNCT
taxlaw-9799	68	1	forthcoming	forthcoming	ADJ
taxlaw-9799	68	2	2022	2022	NUM
taxlaw-9799	68	3	)	)	PUNCT
taxlaw-9799	69	1	[	[	X
taxlaw-9799	69	2	hereinafter	hereinafter	NOUN
taxlaw-9799	69	3	gilson	gilson	PROPN
taxlaw-9799	69	4	et	et	PROPN
taxlaw-9799	69	5	al	al	PROPN
taxlaw-9799	69	6	.	.	PROPN
taxlaw-9799	69	7	]	]	X
taxlaw-9799	69	8	;	;	PUNCT
taxlaw-9799	69	9	malcolm	malcolm	PROPN
taxlaw-9799	69	10	s.	s.	PROPN
taxlaw-9799	69	11	salter	salter	PROPN
taxlaw-9799	69	12	&	&	CCONJ
taxlaw-9799	69	13	wolf	wolf	PROPN
taxlaw-9799	69	14	a.	a.	PROPN
taxlaw-9799	69	15	weinhold	weinhold	PROPN
taxlaw-9799	69	16	,	,	PUNCT
taxlaw-9799	69	17	diversification	diversification	NOUN
taxlaw-9799	69	18	through	through	ADP
taxlaw-9799	69	19	acquisition	acquisition	NOUN
taxlaw-9799	69	20	65	65	NUM
taxlaw-9799	69	21	-	-	SYM
taxlaw-9799	69	22	78	78	NUM
taxlaw-9799	69	23	(	(	PUNCT
taxlaw-9799	69	24	1979	1979	NUM
taxlaw-9799	69	25	)	)	PUNCT
taxlaw-9799	69	26	.	.	PUNCT
taxlaw-9799	69	27	8	8	NUM
taxlaw-9799	69	28	gilson	gilson	PROPN
taxlaw-9799	69	29	et	et	PROPN
taxlaw-9799	69	30	al	al	PROPN
taxlaw-9799	69	31	.	.	PROPN
taxlaw-9799	69	32	,	,	PUNCT
taxlaw-9799	69	33	supra	supra	PROPN
taxlaw-9799	69	34	note	note	PROPN
taxlaw-9799	69	35	7	7	NUM
taxlaw-9799	69	36	,	,	PUNCT
taxlaw-9799	69	37	at	at	ADP
taxlaw-9799	69	38	332	332	NUM
taxlaw-9799	69	39	(	(	PUNCT
taxlaw-9799	69	40	identifying	identify	VERB
taxlaw-9799	69	41	internal	internal	ADJ
taxlaw-9799	69	42	labor	labor	NOUN
taxlaw-9799	69	43	markets	market	NOUN
taxlaw-9799	69	44	as	as	ADP
taxlaw-9799	69	45	a	a	DET
taxlaw-9799	69	46	“	"	PUNCT
taxlaw-9799	69	47	claimed	claim	VERB
taxlaw-9799	69	48	advantage	advantage	NOUN
taxlaw-9799	69	49	of	of	ADP
taxlaw-9799	69	50	the	the	DET
taxlaw-9799	69	51	conglomerate	conglomerate	NOUN
taxlaw-9799	69	52	firm	firm	NOUN
taxlaw-9799	69	53	”	"	PUNCT
taxlaw-9799	69	54	)	)	PUNCT
taxlaw-9799	69	55	.	.	PUNCT
taxlaw-9799	70	1	9	9	NUM
taxlaw-9799	70	2	see	see	NOUN
taxlaw-9799	70	3	sang	sing	VERB
taxlaw-9799	70	4	yop	yop	PROPN
taxlaw-9799	70	5	kang	kang	PROPN
taxlaw-9799	70	6	,	,	PUNCT
taxlaw-9799	70	7	re	re	VERB
taxlaw-9799	70	8	-	-	VERB
taxlaw-9799	70	9	envisioning	envision	VERB
taxlaw-9799	70	10	the	the	DET
taxlaw-9799	70	11	controlling	control	VERB
taxlaw-9799	70	12	shareholder	shareholder	NOUN
taxlaw-9799	70	13	regime	regime	NOUN
taxlaw-9799	70	14	:	:	PUNCT
taxlaw-9799	70	15	why	why	SCONJ
taxlaw-9799	70	16	controlling	control	VERB
taxlaw-9799	70	17	shareholders	shareholder	NOUN
taxlaw-9799	70	18	and	and	CCONJ
taxlaw-9799	70	19	minority	minority	NOUN
taxlaw-9799	70	20	shareholders	shareholder	NOUN
taxlaw-9799	70	21	often	often	ADV
taxlaw-9799	70	22	embrace	embrace	VERB
taxlaw-9799	70	23	,	,	PUNCT
taxlaw-9799	70	24	16	16	NUM
taxlaw-9799	70	25	u.	u.	PROPN
taxlaw-9799	70	26	pa	pa	PROPN
taxlaw-9799	70	27	.	.	PUNCT
taxlaw-9799	70	28	j.	j.	PROPN
taxlaw-9799	70	29	bus	bus	PROPN
taxlaw-9799	70	30	.	.	PUNCT
taxlaw-9799	71	1	l.	l.	PROPN
taxlaw-9799	71	2	843	843	NUM
taxlaw-9799	71	3	,	,	PUNCT
taxlaw-9799	71	4	87880	87880	NUM
taxlaw-9799	71	5	(	(	PUNCT
taxlaw-9799	71	6	2014	2014	NUM
taxlaw-9799	71	7	)	)	PUNCT
taxlaw-9799	72	1	(	(	PUNCT
taxlaw-9799	72	2	noting	note	VERB
taxlaw-9799	72	3	that	that	SCONJ
taxlaw-9799	72	4	conglomerates	conglomerate	NOUN
taxlaw-9799	72	5	in	in	ADP
taxlaw-9799	72	6	countries	country	NOUN
taxlaw-9799	72	7	like	like	ADP
taxlaw-9799	72	8	south	south	PROPN
taxlaw-9799	72	9	korea	korea	PROPN
taxlaw-9799	72	10	are	be	AUX
taxlaw-9799	72	11	popular	popular	ADJ
taxlaw-9799	72	12	and	and	CCONJ
taxlaw-9799	72	13	successful	successful	ADJ
taxlaw-9799	72	14	,	,	PUNCT
taxlaw-9799	72	15	that	that	SCONJ
taxlaw-9799	72	16	development	development	NOUN
taxlaw-9799	72	17	of	of	ADP
taxlaw-9799	72	18	a	a	DET
taxlaw-9799	72	19	well	well	ADV
taxlaw-9799	72	20	-	-	PUNCT
taxlaw-9799	72	21	known	know	VERB
taxlaw-9799	72	22	name	name	NOUN
taxlaw-9799	72	23	or	or	CCONJ
taxlaw-9799	72	24	brand	brand	NOUN
taxlaw-9799	72	25	is	be	AUX
taxlaw-9799	72	26	useful	useful	ADJ
taxlaw-9799	72	27	in	in	ADP
taxlaw-9799	72	28	export	export	NOUN
taxlaw-9799	72	29	-	-	PUNCT
taxlaw-9799	72	30	oriented	orient	VERB
taxlaw-9799	72	31	companies	company	NOUN
taxlaw-9799	72	32	,	,	PUNCT
taxlaw-9799	72	33	and	and	CCONJ
taxlaw-9799	72	34	that	that	SCONJ
taxlaw-9799	72	35	government	government	NOUN
taxlaw-9799	72	36	subsidies	subsidy	NOUN
taxlaw-9799	72	37	and	and	CCONJ
taxlaw-9799	72	38	preferential	preferential	ADJ
taxlaw-9799	72	39	treatment	treatment	NOUN
taxlaw-9799	72	40	come	come	VERB
taxlaw-9799	72	41	at	at	ADP
taxlaw-9799	72	42	expense	expense	NOUN
taxlaw-9799	72	43	of	of	ADP
taxlaw-9799	72	44	general	general	ADJ
taxlaw-9799	72	45	taxpayers	taxpayer	NOUN
taxlaw-9799	72	46	)	)	PUNCT
taxlaw-9799	72	47	.	.	PUNCT
taxlaw-9799	73	1	10	10	NUM
taxlaw-9799	73	2	tim	tim	PROPN
taxlaw-9799	73	3	arango	arango	PROPN
taxlaw-9799	73	4	,	,	PUNCT
taxlaw-9799	73	5	how	how	SCONJ
taxlaw-9799	73	6	the	the	DET
taxlaw-9799	73	7	aol	aol	NOUN
taxlaw-9799	73	8	-	-	PUNCT
taxlaw-9799	73	9	time	time	NOUN
taxlaw-9799	73	10	warner	warner	PROPN
taxlaw-9799	73	11	merger	merger	NOUN
taxlaw-9799	73	12	went	go	VERB
taxlaw-9799	73	13	so	so	ADV
taxlaw-9799	73	14	wrong	wrong	ADJ
taxlaw-9799	73	15	,	,	PUNCT
taxlaw-9799	73	16	n.y	n.y	PROPN
taxlaw-9799	73	17	.	.	PROPN
taxlaw-9799	73	18	times	times	PROPN
taxlaw-9799	73	19	(	(	PUNCT
taxlaw-9799	73	20	jan	jan	PROPN
taxlaw-9799	73	21	.	.	PROPN
taxlaw-9799	73	22	10	10	NUM
taxlaw-9799	73	23	,	,	PUNCT
taxlaw-9799	73	24	2010	2010	NUM
taxlaw-9799	73	25	)	)	PUNCT
taxlaw-9799	73	26	,	,	PUNCT
taxlaw-9799	73	27	https://www.nytimes.com/2010/01/11/business/media/11merger.html	https://www.nytimes.com/2010/01/11/business/media/11merger.html	X
taxlaw-9799	73	28	[	[	X
taxlaw-9799	73	29	https://perma.cc/2s6k-utrk	https://perma.cc/2s6k-utrk	ADP
taxlaw-9799	73	30	]	]	X
taxlaw-9799	73	31	(	(	PUNCT
taxlaw-9799	73	32	“	"	PUNCT
taxlaw-9799	73	33	the	the	DET
taxlaw-9799	73	34	trail	trail	NOUN
taxlaw-9799	73	35	of	of	ADP
taxlaw-9799	73	36	despair	despair	NOUN
taxlaw-9799	73	37	in	in	ADP
taxlaw-9799	73	38	subsequent	subsequent	ADJ
taxlaw-9799	73	39	years	year	NOUN
taxlaw-9799	73	40	included	include	VERB
taxlaw-9799	73	41	countless	countless	ADJ
taxlaw-9799	73	42	job	job	NOUN
taxlaw-9799	73	43	169	169	NUM
taxlaw-9799	73	44	columbia	columbia	PROPN
taxlaw-9799	73	45	journal	journal	PROPN
taxlaw-9799	73	46	of	of	ADP
taxlaw-9799	73	47	tax	tax	NOUN
taxlaw-9799	73	48	law	law	NOUN
taxlaw-9799	73	49	[	[	X
taxlaw-9799	73	50	vol	vol	NOUN
taxlaw-9799	73	51	:	:	PUNCT
taxlaw-9799	73	52	13:2	13:2	NUM
taxlaw-9799	73	53	decreased	decrease	VERB
taxlaw-9799	73	54	firm	firm	ADJ
taxlaw-9799	73	55	value	value	NOUN
taxlaw-9799	73	56	but	but	CCONJ
taxlaw-9799	73	57	nevertheless	nevertheless	ADV
taxlaw-9799	73	58	occurred	occur	VERB
taxlaw-9799	73	59	because	because	SCONJ
taxlaw-9799	73	60	of	of	ADP
taxlaw-9799	73	61	agency	agency	NOUN
taxlaw-9799	73	62	costs	cost	NOUN
taxlaw-9799	73	63	—	—	PUNCT
taxlaw-9799	73	64	particularly	particularly	ADV
taxlaw-9799	73	65	poor	poor	ADJ
taxlaw-9799	73	66	managerial	managerial	ADJ
taxlaw-9799	73	67	incentives.11	incentives.11	NOUN
taxlaw-9799	73	68	first	first	ADV
taxlaw-9799	73	69	,	,	PUNCT
taxlaw-9799	73	70	diversification	diversification	NOUN
taxlaw-9799	73	71	at	at	ADP
taxlaw-9799	73	72	the	the	DET
taxlaw-9799	73	73	portfolio	portfolio	NOUN
taxlaw-9799	73	74	level	level	NOUN
taxlaw-9799	73	75	has	have	AUX
taxlaw-9799	73	76	been	be	AUX
taxlaw-9799	73	77	shown	show	VERB
taxlaw-9799	73	78	to	to	PART
taxlaw-9799	73	79	offer	offer	VERB
taxlaw-9799	73	80	better	well	ADJ
taxlaw-9799	73	81	returns	return	NOUN
taxlaw-9799	73	82	than	than	ADP
taxlaw-9799	73	83	diversification	diversification	NOUN
taxlaw-9799	73	84	at	at	ADP
taxlaw-9799	73	85	the	the	DET
taxlaw-9799	73	86	firm	firm	ADJ
taxlaw-9799	73	87	level	level	NOUN
taxlaw-9799	73	88	,	,	PUNCT
taxlaw-9799	73	89	which	which	PRON
taxlaw-9799	73	90	some	some	DET
taxlaw-9799	73	91	scholars	scholar	NOUN
taxlaw-9799	73	92	have	have	AUX
taxlaw-9799	73	93	dubbed	dub	VERB
taxlaw-9799	73	94	“	"	PUNCT
taxlaw-9799	73	95	diworseification	diworseification	NOUN
taxlaw-9799	73	96	.	.	PUNCT
taxlaw-9799	74	1	”12	”12	PROPN
taxlaw-9799	74	2	whereas	whereas	SCONJ
taxlaw-9799	74	3	outside	outside	ADJ
taxlaw-9799	74	4	investors	investor	NOUN
taxlaw-9799	74	5	in	in	ADP
taxlaw-9799	74	6	public	public	ADJ
taxlaw-9799	74	7	companies	company	NOUN
taxlaw-9799	74	8	examine	examine	VERB
taxlaw-9799	74	9	stock	stock	NOUN
taxlaw-9799	74	10	prices	price	NOUN
taxlaw-9799	74	11	that	that	PRON
taxlaw-9799	74	12	reflect	reflect	VERB
taxlaw-9799	74	13	other	other	ADJ
taxlaw-9799	74	14	investors	investor	NOUN
taxlaw-9799	74	15	’	'	PUNCT
taxlaw-9799	74	16	beliefs	belief	NOUN
taxlaw-9799	74	17	about	about	ADP
taxlaw-9799	74	18	value	value	NOUN
taxlaw-9799	74	19	,	,	PUNCT
taxlaw-9799	74	20	the	the	DET
taxlaw-9799	74	21	market	market	NOUN
taxlaw-9799	74	22	often	often	ADV
taxlaw-9799	74	23	has	have	VERB
taxlaw-9799	74	24	trouble	trouble	NOUN
taxlaw-9799	74	25	evaluating	evaluate	VERB
taxlaw-9799	74	26	a	a	DET
taxlaw-9799	74	27	conglomerate	conglomerate	NOUN
taxlaw-9799	74	28	’s	’s	PART
taxlaw-9799	74	29	many	many	ADJ
taxlaw-9799	74	30	business	business	NOUN
taxlaw-9799	74	31	units	unit	NOUN
taxlaw-9799	74	32	separately.13	separately.13	NOUN
taxlaw-9799	74	33	conglomerate	conglomerate	NOUN
taxlaw-9799	74	34	managers	manager	NOUN
taxlaw-9799	74	35	tend	tend	VERB
taxlaw-9799	74	36	to	to	PART
taxlaw-9799	74	37	err	err	VERB
taxlaw-9799	74	38	in	in	ADP
taxlaw-9799	74	39	evaluating	evaluate	VERB
taxlaw-9799	74	40	a	a	DET
taxlaw-9799	74	41	single	single	ADJ
taxlaw-9799	74	42	business	business	NOUN
taxlaw-9799	74	43	unit	unit	NOUN
taxlaw-9799	74	44	’s	’s	PART
taxlaw-9799	74	45	prospects.14	prospects.14	NOUN
taxlaw-9799	74	46	rather	rather	ADV
taxlaw-9799	74	47	than	than	ADP
taxlaw-9799	74	48	actually	actually	ADV
taxlaw-9799	74	49	acquiring	acquire	VERB
taxlaw-9799	74	50	multiple	multiple	ADJ
taxlaw-9799	74	51	subsidiaries	subsidiary	NOUN
taxlaw-9799	74	52	,	,	PUNCT
taxlaw-9799	74	53	companies	company	NOUN
taxlaw-9799	74	54	can	can	AUX
taxlaw-9799	74	55	instead	instead	ADV
taxlaw-9799	74	56	acquire	acquire	VERB
taxlaw-9799	74	57	merely	merely	ADV
taxlaw-9799	74	58	a	a	DET
taxlaw-9799	74	59	stake	stake	NOUN
taxlaw-9799	74	60	in	in	ADP
taxlaw-9799	74	61	multiple	multiple	ADJ
taxlaw-9799	74	62	subsidiaries.15	subsidiaries.15	NOUN
taxlaw-9799	74	63	diversification	diversification	NOUN
taxlaw-9799	74	64	at	at	ADP
taxlaw-9799	74	65	the	the	DET
taxlaw-9799	74	66	portfolio	portfolio	NOUN
taxlaw-9799	74	67	level	level	NOUN
taxlaw-9799	74	68	affords	afford	NOUN
taxlaw-9799	74	69	companies	company	NOUN
taxlaw-9799	74	70	the	the	DET
taxlaw-9799	74	71	benefits	benefit	NOUN
taxlaw-9799	74	72	of	of	ADP
taxlaw-9799	74	73	diversification	diversification	NOUN
taxlaw-9799	74	74	without	without	ADP
taxlaw-9799	74	75	the	the	DET
taxlaw-9799	74	76	onerous	onerous	ADJ
taxlaw-9799	74	77	burden	burden	NOUN
taxlaw-9799	74	78	of	of	ADP
taxlaw-9799	74	79	managing	manage	VERB
taxlaw-9799	74	80	and	and	CCONJ
taxlaw-9799	74	81	operating	operate	VERB
taxlaw-9799	74	82	multiple	multiple	ADJ
taxlaw-9799	74	83	unrelated	unrelated	ADJ
taxlaw-9799	74	84	business	business	NOUN
taxlaw-9799	74	85	units	unit	NOUN
taxlaw-9799	74	86	.	.	PUNCT
taxlaw-9799	75	1	second	second	ADJ
taxlaw-9799	75	2	,	,	PUNCT
taxlaw-9799	75	3	there	there	PRON
taxlaw-9799	75	4	is	be	VERB
taxlaw-9799	75	5	no	no	DET
taxlaw-9799	75	6	evidence	evidence	NOUN
taxlaw-9799	75	7	that	that	SCONJ
taxlaw-9799	75	8	conglomerate	conglomerate	NOUN
taxlaw-9799	75	9	managers	manager	NOUN
taxlaw-9799	75	10	are	be	AUX
taxlaw-9799	75	11	better	well	ADJ
taxlaw-9799	75	12	than	than	ADP
taxlaw-9799	75	13	investors	investor	NOUN
taxlaw-9799	75	14	at	at	ADP
taxlaw-9799	75	15	allocating	allocate	VERB
taxlaw-9799	75	16	capital	capital	NOUN
taxlaw-9799	75	17	efficiently	efficiently	ADV
taxlaw-9799	75	18	or	or	CCONJ
taxlaw-9799	75	19	better	well	ADJ
taxlaw-9799	75	20	than	than	ADP
taxlaw-9799	75	21	the	the	DET
taxlaw-9799	75	22	board	board	NOUN
taxlaw-9799	75	23	of	of	ADP
taxlaw-9799	75	24	directors	director	NOUN
taxlaw-9799	75	25	of	of	ADP
taxlaw-9799	75	26	stand	stand	VERB
taxlaw-9799	75	27	-	-	PUNCT
taxlaw-9799	75	28	alone	alone	ADJ
taxlaw-9799	75	29	firms	firm	NOUN
taxlaw-9799	75	30	at	at	ADP
taxlaw-9799	75	31	choosing	choose	VERB
taxlaw-9799	75	32	and	and	CCONJ
taxlaw-9799	75	33	replacing	replace	VERB
taxlaw-9799	75	34	divisional	divisional	ADJ
taxlaw-9799	75	35	managers	manager	NOUN
taxlaw-9799	75	36	.	.	PUNCT
taxlaw-9799	76	1	although	although	SCONJ
taxlaw-9799	76	2	access	access	NOUN
taxlaw-9799	76	3	to	to	ADP
taxlaw-9799	76	4	internal	internal	ADJ
taxlaw-9799	76	5	capital	capital	NOUN
taxlaw-9799	76	6	markets	market	NOUN
taxlaw-9799	76	7	may	may	AUX
taxlaw-9799	76	8	be	be	AUX
taxlaw-9799	76	9	beneficial	beneficial	ADJ
taxlaw-9799	76	10	,	,	PUNCT
taxlaw-9799	76	11	it	it	PRON
taxlaw-9799	76	12	is	be	AUX
taxlaw-9799	76	13	unclear	unclear	ADJ
taxlaw-9799	76	14	whether	whether	SCONJ
taxlaw-9799	76	15	such	such	ADJ
taxlaw-9799	76	16	access	access	NOUN
taxlaw-9799	76	17	contributes	contribute	VERB
taxlaw-9799	76	18	enough	enough	ADJ
taxlaw-9799	76	19	value	value	NOUN
taxlaw-9799	76	20	to	to	PART
taxlaw-9799	76	21	justify	justify	VERB
taxlaw-9799	76	22	the	the	DET
taxlaw-9799	76	23	transaction	transaction	NOUN
taxlaw-9799	76	24	costs	cost	NOUN
taxlaw-9799	76	25	of	of	ADP
taxlaw-9799	76	26	a	a	DET
taxlaw-9799	76	27	takeover	takeover	NOUN
taxlaw-9799	76	28	.	.	PUNCT
taxlaw-9799	77	1	after	after	ADV
taxlaw-9799	77	2	all	all	ADV
taxlaw-9799	77	3	,	,	PUNCT
taxlaw-9799	77	4	an	an	DET
taxlaw-9799	77	5	acquirer	acquirer	NOUN
taxlaw-9799	77	6	usually	usually	ADV
taxlaw-9799	77	7	pays	pay	VERB
taxlaw-9799	77	8	a	a	DET
taxlaw-9799	77	9	premium	premium	NOUN
taxlaw-9799	77	10	for	for	ADP
taxlaw-9799	77	11	the	the	DET
taxlaw-9799	77	12	shares	share	NOUN
taxlaw-9799	77	13	of	of	ADP
taxlaw-9799	77	14	a	a	DET
taxlaw-9799	77	15	target	target	NOUN
taxlaw-9799	77	16	—	—	PUNCT
taxlaw-9799	77	17	particularly	particularly	ADV
taxlaw-9799	77	18	in	in	ADP
taxlaw-9799	77	19	a	a	DET
taxlaw-9799	77	20	competitive	competitive	ADJ
taxlaw-9799	77	21	bidding	bidding	NOUN
taxlaw-9799	77	22	environment	environment	NOUN
taxlaw-9799	77	23	—	—	PUNCT
taxlaw-9799	77	24	due	due	ADP
taxlaw-9799	77	25	to	to	ADP
taxlaw-9799	77	26	the	the	DET
taxlaw-9799	77	27	winner	winner	NOUN
taxlaw-9799	77	28	’s	’s	PART
taxlaw-9799	77	29	curse.16	curse.16	PROPN
taxlaw-9799	77	30	conglomerate	conglomerate	NOUN
taxlaw-9799	77	31	managers	manager	NOUN
taxlaw-9799	77	32	certainly	certainly	ADV
taxlaw-9799	77	33	have	have	AUX
taxlaw-9799	77	34	access	access	NOUN
taxlaw-9799	77	35	to	to	ADP
taxlaw-9799	77	36	different	different	ADJ
taxlaw-9799	77	37	information	information	NOUN
taxlaw-9799	77	38	than	than	SCONJ
taxlaw-9799	77	39	do	do	VERB
taxlaw-9799	77	40	outside	outside	ADJ
taxlaw-9799	77	41	investors	investor	NOUN
taxlaw-9799	77	42	,	,	PUNCT
taxlaw-9799	77	43	losses	loss	NOUN
taxlaw-9799	77	44	,	,	PUNCT
taxlaw-9799	77	45	the	the	DET
taxlaw-9799	77	46	decimation	decimation	NOUN
taxlaw-9799	77	47	of	of	ADP
taxlaw-9799	77	48	retirement	retirement	NOUN
taxlaw-9799	77	49	accounts	account	NOUN
taxlaw-9799	77	50	,	,	PUNCT
taxlaw-9799	77	51	investigations	investigation	NOUN
taxlaw-9799	77	52	by	by	ADP
taxlaw-9799	77	53	the	the	DET
taxlaw-9799	77	54	securities	securities	PROPN
taxlaw-9799	77	55	and	and	CCONJ
taxlaw-9799	77	56	exchange	exchange	PROPN
taxlaw-9799	77	57	commission	commission	PROPN
taxlaw-9799	77	58	and	and	CCONJ
taxlaw-9799	77	59	the	the	DET
taxlaw-9799	77	60	justice	justice	NOUN
taxlaw-9799	77	61	department	department	PROPN
taxlaw-9799	77	62	,	,	PUNCT
taxlaw-9799	77	63	and	and	CCONJ
taxlaw-9799	77	64	countless	countless	ADJ
taxlaw-9799	77	65	executive	executive	ADJ
taxlaw-9799	77	66	upheavals	upheaval	NOUN
taxlaw-9799	77	67	.	.	PUNCT
taxlaw-9799	78	1	today	today	NOUN
taxlaw-9799	78	2	,	,	PUNCT
taxlaw-9799	78	3	the	the	DET
taxlaw-9799	78	4	combined	combined	ADJ
taxlaw-9799	78	5	values	value	NOUN
taxlaw-9799	78	6	of	of	ADP
taxlaw-9799	78	7	the	the	DET
taxlaw-9799	78	8	companies	company	NOUN
taxlaw-9799	78	9	,	,	PUNCT
taxlaw-9799	78	10	which	which	PRON
taxlaw-9799	78	11	have	have	AUX
taxlaw-9799	78	12	been	be	AUX
taxlaw-9799	78	13	separated	separate	VERB
taxlaw-9799	78	14	,	,	PUNCT
taxlaw-9799	78	15	is	be	AUX
taxlaw-9799	78	16	about	about	ADV
taxlaw-9799	78	17	one	one	NUM
taxlaw-9799	78	18	-	-	PUNCT
taxlaw-9799	78	19	seventh	seventh	NOUN
taxlaw-9799	78	20	of	of	ADP
taxlaw-9799	78	21	their	their	PRON
taxlaw-9799	78	22	worth	worth	NOUN
taxlaw-9799	78	23	on	on	ADP
taxlaw-9799	78	24	the	the	DET
taxlaw-9799	78	25	day	day	NOUN
taxlaw-9799	78	26	of	of	ADP
taxlaw-9799	78	27	the	the	DET
taxlaw-9799	78	28	merger	merger	NOUN
taxlaw-9799	78	29	.	.	PUNCT
taxlaw-9799	79	1	to	to	PART
taxlaw-9799	79	2	call	call	VERB
taxlaw-9799	79	3	the	the	DET
taxlaw-9799	79	4	transaction	transaction	NOUN
taxlaw-9799	79	5	the	the	DET
taxlaw-9799	79	6	worst	bad	ADJ
taxlaw-9799	79	7	in	in	ADP
taxlaw-9799	79	8	history	history	NOUN
taxlaw-9799	79	9	,	,	PUNCT
taxlaw-9799	79	10	as	as	SCONJ
taxlaw-9799	79	11	it	it	PRON
taxlaw-9799	79	12	is	be	AUX
taxlaw-9799	79	13	now	now	ADV
taxlaw-9799	79	14	taught	teach	VERB
taxlaw-9799	79	15	in	in	ADP
taxlaw-9799	79	16	business	business	NOUN
taxlaw-9799	79	17	schools	school	NOUN
taxlaw-9799	79	18	,	,	PUNCT
taxlaw-9799	79	19	does	do	AUX
taxlaw-9799	79	20	not	not	PART
taxlaw-9799	79	21	begin	begin	VERB
taxlaw-9799	79	22	to	to	PART
taxlaw-9799	79	23	tell	tell	VERB
taxlaw-9799	79	24	the	the	DET
taxlaw-9799	79	25	story	story	NOUN
taxlaw-9799	79	26	of	of	ADP
taxlaw-9799	79	27	how	how	SCONJ
taxlaw-9799	79	28	some	some	PRON
taxlaw-9799	79	29	of	of	ADP
taxlaw-9799	79	30	the	the	DET
taxlaw-9799	79	31	brightest	bright	ADJ
taxlaw-9799	79	32	minds	mind	NOUN
taxlaw-9799	79	33	in	in	ADP
taxlaw-9799	79	34	technology	technology	NOUN
taxlaw-9799	79	35	and	and	CCONJ
taxlaw-9799	79	36	media	medium	NOUN
taxlaw-9799	79	37	collaborated	collaborate	VERB
taxlaw-9799	79	38	to	to	PART
taxlaw-9799	79	39	produce	produce	VERB
taxlaw-9799	79	40	a	a	DET
taxlaw-9799	79	41	deal	deal	NOUN
taxlaw-9799	79	42	now	now	ADV
taxlaw-9799	79	43	regarded	regard	VERB
taxlaw-9799	79	44	by	by	ADP
taxlaw-9799	79	45	many	many	ADJ
taxlaw-9799	79	46	as	as	ADP
taxlaw-9799	79	47	a	a	DET
taxlaw-9799	79	48	colossal	colossal	ADJ
taxlaw-9799	79	49	mistake	mistake	NOUN
taxlaw-9799	79	50	.	.	PUNCT
taxlaw-9799	79	51	”	"	PUNCT
taxlaw-9799	79	52	)	)	PUNCT
taxlaw-9799	79	53	.	.	PUNCT
taxlaw-9799	80	1	11	11	NUM
taxlaw-9799	80	2	gilson	gilson	PROPN
taxlaw-9799	80	3	et	et	PROPN
taxlaw-9799	80	4	al	al	PROPN
taxlaw-9799	80	5	.	.	PROPN
taxlaw-9799	80	6	,	,	PUNCT
taxlaw-9799	80	7	supra	supra	PROPN
taxlaw-9799	80	8	note	note	PROPN
taxlaw-9799	80	9	7	7	NUM
taxlaw-9799	80	10	,	,	PUNCT
taxlaw-9799	80	11	at	at	ADP
taxlaw-9799	80	12	312	312	NUM
taxlaw-9799	80	13	.	.	NOUN
taxlaw-9799	80	14	12	12	NUM
taxlaw-9799	80	15	louis	louis	PROPN
taxlaw-9799	80	16	lowenstein	lowenstein	NOUN
taxlaw-9799	80	17	,	,	PUNCT
taxlaw-9799	80	18	sense	sense	NOUN
taxlaw-9799	80	19	and	and	CCONJ
taxlaw-9799	80	20	nonsense	nonsense	NOUN
taxlaw-9799	80	21	in	in	ADP
taxlaw-9799	80	22	corporate	corporate	ADJ
taxlaw-9799	80	23	finance	finance	NOUN
taxlaw-9799	80	24	161	161	NUM
taxlaw-9799	80	25	-	-	SYM
taxlaw-9799	80	26	66	66	NUM
taxlaw-9799	80	27	(	(	PUNCT
taxlaw-9799	80	28	1991	1991	NUM
taxlaw-9799	80	29	)	)	PUNCT
taxlaw-9799	80	30	;	;	PUNCT
taxlaw-9799	80	31	see	see	VERB
taxlaw-9799	80	32	also	also	ADV
taxlaw-9799	80	33	haim	haim	PROPN
taxlaw-9799	80	34	levy	levy	PROPN
taxlaw-9799	80	35	&	&	CCONJ
taxlaw-9799	80	36	marshall	marshall	PROPN
taxlaw-9799	80	37	sarnat	sarnat	PROPN
taxlaw-9799	80	38	,	,	PUNCT
taxlaw-9799	80	39	diversification	diversification	NOUN
taxlaw-9799	80	40	,	,	PUNCT
taxlaw-9799	80	41	portfolio	portfolio	NOUN
taxlaw-9799	80	42	analysis	analysis	NOUN
taxlaw-9799	80	43	and	and	CCONJ
taxlaw-9799	80	44	the	the	DET
taxlaw-9799	80	45	uneasy	uneasy	ADJ
taxlaw-9799	80	46	case	case	NOUN
taxlaw-9799	80	47	for	for	ADP
taxlaw-9799	80	48	conglomerate	conglomerate	NOUN
taxlaw-9799	80	49	mergers	merger	NOUN
taxlaw-9799	80	50	,	,	PUNCT
taxlaw-9799	80	51	25	25	NUM
taxlaw-9799	80	52	j.	j.	PROPN
taxlaw-9799	80	53	fin	fin	PROPN
taxlaw-9799	80	54	.	.	PROPN
taxlaw-9799	81	1	795	795	NUM
taxlaw-9799	81	2	,	,	PUNCT
taxlaw-9799	81	3	796	796	NUM
taxlaw-9799	81	4	(	(	PUNCT
taxlaw-9799	81	5	1970	1970	NUM
taxlaw-9799	81	6	)	)	PUNCT
taxlaw-9799	81	7	(	(	PUNCT
taxlaw-9799	81	8	“	"	PUNCT
taxlaw-9799	81	9	[	[	X
taxlaw-9799	81	10	a	a	X
taxlaw-9799	81	11	]	]	X
taxlaw-9799	81	12	conglomerate	conglomerate	NOUN
taxlaw-9799	81	13	merger	merger	NOUN
taxlaw-9799	81	14	per	per	X
taxlaw-9799	81	15	se	se	X
taxlaw-9799	81	16	does	do	AUX
taxlaw-9799	81	17	not	not	PART
taxlaw-9799	81	18	necessarily	necessarily	ADV
taxlaw-9799	81	19	create	create	VERB
taxlaw-9799	81	20	opportunities	opportunity	NOUN
taxlaw-9799	81	21	for	for	ADP
taxlaw-9799	81	22	risk	risk	NOUN
taxlaw-9799	81	23	diversification	diversification	NOUN
taxlaw-9799	81	24	over	over	ADP
taxlaw-9799	81	25	and	and	CCONJ
taxlaw-9799	81	26	beyond	beyond	ADP
taxlaw-9799	81	27	what	what	PRON
taxlaw-9799	81	28	was	be	AUX
taxlaw-9799	81	29	possible	possible	ADJ
taxlaw-9799	81	30	to	to	ADP
taxlaw-9799	81	31	individual	individual	NOUN
taxlaw-9799	81	32	(	(	PUNCT
taxlaw-9799	81	33	and	and	CCONJ
taxlaw-9799	81	34	institutional	institutional	ADJ
taxlaw-9799	81	35	)	)	PUNCT
taxlaw-9799	81	36	investors	investor	NOUN
taxlaw-9799	81	37	prior	prior	ADV
taxlaw-9799	81	38	to	to	ADP
taxlaw-9799	81	39	the	the	DET
taxlaw-9799	81	40	merger	merger	NOUN
taxlaw-9799	81	41	.	.	PUNCT
taxlaw-9799	81	42	”	"	PUNCT
taxlaw-9799	81	43	)	)	PUNCT
taxlaw-9799	81	44	.	.	PUNCT
taxlaw-9799	82	1	13	13	NUM
taxlaw-9799	82	2	gilson	gilson	PROPN
taxlaw-9799	82	3	et	et	PROPN
taxlaw-9799	82	4	al	al	PROPN
taxlaw-9799	82	5	.	.	PROPN
taxlaw-9799	82	6	,	,	PUNCT
taxlaw-9799	82	7	supra	supra	PROPN
taxlaw-9799	82	8	note	note	PROPN
taxlaw-9799	82	9	7	7	NUM
taxlaw-9799	82	10	,	,	PUNCT
taxlaw-9799	82	11	at	at	ADP
taxlaw-9799	82	12	330	330	NUM
taxlaw-9799	82	13	-	-	SYM
taxlaw-9799	82	14	31	31	NUM
taxlaw-9799	82	15	.	.	PUNCT
taxlaw-9799	83	1	14	14	NUM
taxlaw-9799	83	2	see	see	VERB
taxlaw-9799	83	3	i	i	PRON
taxlaw-9799	83	4	d.	d.	PROPN
taxlaw-9799	83	5	15	15	NUM
taxlaw-9799	83	6	see	see	VERB
taxlaw-9799	83	7	r.	r.	PROPN
taxlaw-9799	83	8	hal	hal	PROPN
taxlaw-9799	83	9	mason	mason	PROPN
taxlaw-9799	83	10	&	&	CCONJ
taxlaw-9799	83	11	maurice	maurice	PROPN
taxlaw-9799	83	12	goudzwaard	goudzwaard	PROPN
taxlaw-9799	83	13	,	,	PUNCT
taxlaw-9799	83	14	performance	performance	NOUN
taxlaw-9799	83	15	of	of	ADP
taxlaw-9799	83	16	conglomerate	conglomerate	NOUN
taxlaw-9799	83	17	firms	firm	NOUN
taxlaw-9799	83	18	:	:	PUNCT
taxlaw-9799	83	19	a	a	DET
taxlaw-9799	83	20	portfolio	portfolio	NOUN
taxlaw-9799	83	21	approach	approach	NOUN
taxlaw-9799	83	22	,	,	PUNCT
taxlaw-9799	83	23	31	31	NUM
taxlaw-9799	83	24	j.	j.	PROPN
taxlaw-9799	83	25	fin	fin	PROPN
taxlaw-9799	83	26	.	.	PROPN
taxlaw-9799	84	1	39	39	NUM
taxlaw-9799	84	2	,	,	PUNCT
taxlaw-9799	84	3	45	45	NUM
taxlaw-9799	84	4	(	(	PUNCT
taxlaw-9799	84	5	1976	1976	NUM
taxlaw-9799	84	6	)	)	PUNCT
taxlaw-9799	84	7	(	(	PUNCT
taxlaw-9799	84	8	“	"	PUNCT
taxlaw-9799	84	9	we	we	PRON
taxlaw-9799	84	10	had	have	AUX
taxlaw-9799	84	11	expected	expect	VERB
taxlaw-9799	84	12	the	the	DET
taxlaw-9799	84	13	sample	sample	NOUN
taxlaw-9799	84	14	of	of	ADP
taxlaw-9799	84	15	conglomerate	conglomerate	NOUN
taxlaw-9799	84	16	firms	firm	NOUN
taxlaw-9799	84	17	to	to	ADP
taxlaw-9799	84	18	either	either	CCONJ
taxlaw-9799	84	19	significantly	significantly	ADV
taxlaw-9799	84	20	outperform	outperform	ADJ
taxlaw-9799	84	21	or	or	CCONJ
taxlaw-9799	84	22	at	at	ADP
taxlaw-9799	84	23	least	least	ADJ
taxlaw-9799	84	24	perform	perform	VERB
taxlaw-9799	84	25	as	as	ADV
taxlaw-9799	84	26	well	well	ADV
taxlaw-9799	84	27	as	as	ADP
taxlaw-9799	84	28	a	a	DET
taxlaw-9799	84	29	set	set	NOUN
taxlaw-9799	84	30	of	of	ADP
taxlaw-9799	84	31	randomly	randomly	ADV
taxlaw-9799	84	32	selected	select	VERB
taxlaw-9799	84	33	portfolios	portfolio	NOUN
taxlaw-9799	84	34	—	—	PUNCT
taxlaw-9799	84	35	simply	simply	ADV
taxlaw-9799	84	36	because	because	SCONJ
taxlaw-9799	84	37	operating	operating	NOUN
taxlaw-9799	84	38	control	control	NOUN
taxlaw-9799	84	39	should	should	AUX
taxlaw-9799	84	40	confer	confer	VERB
taxlaw-9799	84	41	certain	certain	ADJ
taxlaw-9799	84	42	advantages	advantage	NOUN
taxlaw-9799	84	43	to	to	ADP
taxlaw-9799	84	44	a	a	DET
taxlaw-9799	84	45	diversified	diversified	ADJ
taxlaw-9799	84	46	portfolio	portfolio	NOUN
taxlaw-9799	84	47	of	of	ADP
taxlaw-9799	84	48	assets	asset	NOUN
taxlaw-9799	84	49	.	.	PUNCT
taxlaw-9799	85	1	we	we	PRON
taxlaw-9799	85	2	find	find	VERB
taxlaw-9799	85	3	quite	quite	DET
taxlaw-9799	85	4	the	the	DET
taxlaw-9799	85	5	opposite	opposite	NOUN
taxlaw-9799	85	6	from	from	ADP
taxlaw-9799	85	7	the	the	DET
taxlaw-9799	85	8	data	datum	NOUN
taxlaw-9799	85	9	at	at	ADP
taxlaw-9799	85	10	hand	hand	NOUN
taxlaw-9799	85	11	.	.	PUNCT
taxlaw-9799	86	1	the	the	DET
taxlaw-9799	86	2	statistical	statistical	ADJ
taxlaw-9799	86	3	tests	test	NOUN
taxlaw-9799	86	4	indicate	indicate	VERB
taxlaw-9799	86	5	that	that	SCONJ
taxlaw-9799	86	6	the	the	DET
taxlaw-9799	86	7	portfolios	portfolio	NOUN
taxlaw-9799	86	8	outperformed	outperform	VERB
taxlaw-9799	86	9	the	the	DET
taxlaw-9799	86	10	conglomerates	conglomerate	NOUN
taxlaw-9799	86	11	in	in	ADP
taxlaw-9799	86	12	terms	term	NOUN
taxlaw-9799	86	13	of	of	ADP
taxlaw-9799	86	14	both	both	DET
taxlaw-9799	86	15	rates	rate	NOUN
taxlaw-9799	86	16	of	of	ADP
taxlaw-9799	86	17	return	return	NOUN
taxlaw-9799	86	18	on	on	ADP
taxlaw-9799	86	19	assets	asset	NOUN
taxlaw-9799	86	20	and	and	CCONJ
taxlaw-9799	86	21	accumulated	accumulate	VERB
taxlaw-9799	86	22	stockholder	stockholder	NOUN
taxlaw-9799	86	23	wealth	wealth	NOUN
taxlaw-9799	86	24	over	over	ADP
taxlaw-9799	86	25	the	the	DET
taxlaw-9799	86	26	1962	1962	NUM
taxlaw-9799	86	27	to	to	ADP
taxlaw-9799	86	28	1967	1967	NUM
taxlaw-9799	86	29	period	period	NOUN
taxlaw-9799	86	30	.	.	PUNCT
taxlaw-9799	86	31	”	"	PUNCT
taxlaw-9799	86	32	)	)	PUNCT
taxlaw-9799	86	33	;	;	PUNCT
taxlaw-9799	86	34	gilson	gilson	PROPN
taxlaw-9799	86	35	et	et	PROPN
taxlaw-9799	86	36	al	al	PROPN
taxlaw-9799	86	37	.	.	PROPN
taxlaw-9799	86	38	,	,	PUNCT
taxlaw-9799	86	39	supra	supra	PROPN
taxlaw-9799	86	40	note	note	PROPN
taxlaw-9799	86	41	7	7	NUM
taxlaw-9799	86	42	,	,	PUNCT
taxlaw-9799	86	43	at	at	ADP
taxlaw-9799	86	44	339	339	NUM
taxlaw-9799	86	45	(	(	PUNCT
taxlaw-9799	86	46	“	"	PUNCT
taxlaw-9799	86	47	mason	mason	PROPN
taxlaw-9799	86	48	&	&	CCONJ
taxlaw-9799	86	49	goudzwaard	goudzwaard	PROPN
taxlaw-9799	86	50	is	be	AUX
taxlaw-9799	86	51	representative	representative	ADJ
taxlaw-9799	86	52	of	of	ADP
taxlaw-9799	86	53	a	a	DET
taxlaw-9799	86	54	large	large	ADJ
taxlaw-9799	86	55	number	number	NOUN
taxlaw-9799	86	56	of	of	ADP
taxlaw-9799	86	57	studies	study	NOUN
taxlaw-9799	86	58	that	that	PRON
taxlaw-9799	86	59	reach	reach	VERB
taxlaw-9799	86	60	the	the	DET
taxlaw-9799	86	61	consistent	consistent	ADJ
taxlaw-9799	86	62	conclusion	conclusion	NOUN
taxlaw-9799	86	63	that	that	SCONJ
taxlaw-9799	86	64	firm	firm	ADJ
taxlaw-9799	86	65	-	-	PUNCT
taxlaw-9799	86	66	level	level	NOUN
taxlaw-9799	86	67	diversification	diversification	NOUN
taxlaw-9799	86	68	reduces	reduce	VERB
taxlaw-9799	86	69	firm	firm	ADJ
taxlaw-9799	86	70	value	value	NOUN
taxlaw-9799	86	71	.	.	PUNCT
taxlaw-9799	86	72	”	"	PUNCT
taxlaw-9799	86	73	)	)	PUNCT
taxlaw-9799	87	1	;	;	PUNCT
taxlaw-9799	87	2	i	i	PRON
taxlaw-9799	87	3	d.	d.	PROPN
taxlaw-9799	87	4	at	at	ADP
taxlaw-9799	87	5	342	342	NUM
taxlaw-9799	87	6	(	(	PUNCT
taxlaw-9799	87	7	“	"	PUNCT
taxlaw-9799	87	8	the	the	DET
taxlaw-9799	87	9	best	good	ADJ
taxlaw-9799	87	10	one	one	NOUN
taxlaw-9799	87	11	can	can	AUX
taxlaw-9799	87	12	say	say	VERB
taxlaw-9799	87	13	is	be	AUX
taxlaw-9799	87	14	that	that	SCONJ
taxlaw-9799	87	15	there	there	PRON
taxlaw-9799	87	16	is	be	VERB
taxlaw-9799	87	17	no	no	DET
taxlaw-9799	87	18	evidence	evidence	NOUN
taxlaw-9799	87	19	of	of	ADP
taxlaw-9799	87	20	the	the	DET
taxlaw-9799	87	21	value	value	NOUN
taxlaw-9799	87	22	added	add	VERB
taxlaw-9799	87	23	that	that	PRON
taxlaw-9799	87	24	is	be	AUX
taxlaw-9799	87	25	needed	need	VERB
taxlaw-9799	87	26	to	to	PART
taxlaw-9799	87	27	justify	justify	VERB
taxlaw-9799	87	28	the	the	DET
taxlaw-9799	87	29	acquirer	acquirer	NOUN
taxlaw-9799	87	30	paying	pay	VERB
taxlaw-9799	87	31	a	a	DET
taxlaw-9799	87	32	premium	premium	NOUN
taxlaw-9799	87	33	for	for	ADP
taxlaw-9799	87	34	the	the	DET
taxlaw-9799	87	35	target	target	NOUN
taxlaw-9799	87	36	.	.	PUNCT
taxlaw-9799	88	1	if	if	SCONJ
taxlaw-9799	88	2	anything	anything	PRON
taxlaw-9799	88	3	,	,	PUNCT
taxlaw-9799	88	4	the	the	DET
taxlaw-9799	88	5	evidence	evidence	NOUN
taxlaw-9799	88	6	suggests	suggest	VERB
taxlaw-9799	88	7	that	that	SCONJ
taxlaw-9799	88	8	conglomerates	conglomerate	NOUN
taxlaw-9799	88	9	turn	turn	VERB
taxlaw-9799	88	10	2	2	NUM
taxlaw-9799	88	11	+	+	CCONJ
taxlaw-9799	88	12	2	2	NUM
taxlaw-9799	88	13	into	into	ADP
taxlaw-9799	88	14	a	a	DET
taxlaw-9799	88	15	little	little	ADJ
taxlaw-9799	88	16	bit	bit	NOUN
taxlaw-9799	88	17	less	less	ADJ
taxlaw-9799	88	18	than	than	ADP
taxlaw-9799	88	19	4	4	NUM
taxlaw-9799	88	20	,	,	PUNCT
taxlaw-9799	88	21	on	on	ADP
taxlaw-9799	88	22	average	average	ADJ
taxlaw-9799	88	23	.	.	PUNCT
taxlaw-9799	88	24	”	"	PUNCT
taxlaw-9799	88	25	)	)	PUNCT
taxlaw-9799	88	26	.	.	PUNCT
taxlaw-9799	89	1	16	16	NUM
taxlaw-9799	89	2	in	in	ADP
taxlaw-9799	89	3	m&a	m&a	PROPN
taxlaw-9799	89	4	,	,	PUNCT
taxlaw-9799	89	5	the	the	DET
taxlaw-9799	89	6	winner	winner	NOUN
taxlaw-9799	89	7	’s	’s	PART
taxlaw-9799	89	8	curse	curse	NOUN
taxlaw-9799	89	9	is	be	AUX
taxlaw-9799	89	10	the	the	DET
taxlaw-9799	89	11	tendency	tendency	NOUN
taxlaw-9799	89	12	for	for	SCONJ
taxlaw-9799	89	13	the	the	DET
taxlaw-9799	89	14	winning	win	VERB
taxlaw-9799	89	15	acquirer	acquirer	NOUN
taxlaw-9799	89	16	to	to	PART
taxlaw-9799	89	17	overpay	overpay	VERB
taxlaw-9799	89	18	for	for	ADP
taxlaw-9799	89	19	a	a	DET
taxlaw-9799	89	20	target	target	NOUN
taxlaw-9799	89	21	company	company	NOUN
taxlaw-9799	89	22	in	in	ADP
taxlaw-9799	89	23	an	an	DET
taxlaw-9799	89	24	auction	auction	NOUN
taxlaw-9799	89	25	-	-	PUNCT
taxlaw-9799	89	26	like	like	ADJ
taxlaw-9799	89	27	scenario	scenario	NOUN
taxlaw-9799	89	28	because	because	SCONJ
taxlaw-9799	89	29	of	of	ADP
taxlaw-9799	89	30	the	the	DET
taxlaw-9799	89	31	competitive	competitive	ADJ
taxlaw-9799	89	32	bidding	bidding	NOUN
taxlaw-9799	89	33	dynamic	dynamic	NOUN
taxlaw-9799	89	34	that	that	PRON
taxlaw-9799	89	35	encourages	encourage	VERB
taxlaw-9799	89	36	the	the	DET
taxlaw-9799	89	37	pool	pool	NOUN
taxlaw-9799	89	38	of	of	ADP
taxlaw-9799	89	39	potential	potential	ADJ
taxlaw-9799	89	40	acquirers	acquirer	NOUN
taxlaw-9799	89	41	to	to	PART
taxlaw-9799	89	42	drive	drive	VERB
taxlaw-9799	89	43	up	up	ADP
taxlaw-9799	89	44	target	target	NOUN
taxlaw-9799	89	45	’s	’s	PART
taxlaw-9799	89	46	purchase	purchase	NOUN
taxlaw-9799	89	47	price	price	NOUN
taxlaw-9799	89	48	in	in	ADP
taxlaw-9799	89	49	excess	excess	NOUN
taxlaw-9799	89	50	of	of	ADP
taxlaw-9799	89	51	its	its	PRON
taxlaw-9799	89	52	intrinsic	intrinsic	ADJ
taxlaw-9799	89	53	value	value	NOUN
taxlaw-9799	89	54	.	.	PUNCT
taxlaw-9799	90	1	see	see	VERB
taxlaw-9799	90	2	gilson	gilson	PROPN
taxlaw-9799	90	3	et	et	PROPN
taxlaw-9799	90	4	al	al	PROPN
taxlaw-9799	90	5	.	.	PROPN
taxlaw-9799	90	6	,	,	PUNCT
taxlaw-9799	90	7	supra	supra	PROPN
taxlaw-9799	90	8	note	note	PROPN
taxlaw-9799	90	9	7	7	NUM
taxlaw-9799	90	10	,	,	PUNCT
taxlaw-9799	90	11	at	at	ADP
taxlaw-9799	90	12	330	330	NUM
taxlaw-9799	90	13	.	.	PUNCT
taxlaw-9799	90	14	2022	2022	NUM
taxlaw-9799	90	15	]	]	PUNCT
taxlaw-9799	90	16	conglomerate	conglomerate	NOUN
taxlaw-9799	90	17	spin	spin	NOUN
taxlaw-9799	90	18	-	-	PUNCT
taxlaw-9799	90	19	offs	off	NOUN
taxlaw-9799	90	20	170	170	NUM
taxlaw-9799	90	21	but	but	CCONJ
taxlaw-9799	90	22	different	different	ADJ
taxlaw-9799	90	23	does	do	AUX
taxlaw-9799	90	24	not	not	PART
taxlaw-9799	90	25	necessarily	necessarily	ADV
taxlaw-9799	90	26	mean	mean	VERB
taxlaw-9799	90	27	better.17	better.17	ADV
taxlaw-9799	90	28	moreover	moreover	ADV
taxlaw-9799	90	29	,	,	PUNCT
taxlaw-9799	90	30	private	private	ADJ
taxlaw-9799	90	31	companies	company	NOUN
taxlaw-9799	90	32	offer	offer	VERB
taxlaw-9799	90	33	outside	outside	ADP
taxlaw-9799	90	34	investors	investor	NOUN
taxlaw-9799	90	35	detailed	detail	VERB
taxlaw-9799	90	36	financial	financial	ADJ
taxlaw-9799	90	37	information	information	NOUN
taxlaw-9799	90	38	prior	prior	ADV
taxlaw-9799	90	39	to	to	ADP
taxlaw-9799	90	40	investment.18	investment.18	NOUN
taxlaw-9799	90	41	with	with	ADP
taxlaw-9799	90	42	respect	respect	NOUN
taxlaw-9799	90	43	to	to	ADP
taxlaw-9799	90	44	the	the	DET
taxlaw-9799	90	45	internal	internal	ADJ
taxlaw-9799	90	46	labor	labor	NOUN
taxlaw-9799	90	47	market	market	NOUN
taxlaw-9799	90	48	argument	argument	NOUN
taxlaw-9799	90	49	,	,	PUNCT
taxlaw-9799	90	50	such	such	ADJ
taxlaw-9799	90	51	intensive	intensive	ADJ
taxlaw-9799	90	52	oversight	oversight	NOUN
taxlaw-9799	90	53	is	be	AUX
taxlaw-9799	90	54	expensive	expensive	ADJ
taxlaw-9799	90	55	,	,	PUNCT
taxlaw-9799	90	56	sophisticated	sophisticated	ADJ
taxlaw-9799	90	57	private	private	ADJ
taxlaw-9799	90	58	executive	executive	ADJ
taxlaw-9799	90	59	search	search	NOUN
taxlaw-9799	90	60	firms	firm	NOUN
taxlaw-9799	90	61	are	be	AUX
taxlaw-9799	90	62	skilled	skilled	ADJ
taxlaw-9799	90	63	in	in	ADP
taxlaw-9799	90	64	locating	locate	VERB
taxlaw-9799	90	65	top	top	ADJ
taxlaw-9799	90	66	managers	manager	NOUN
taxlaw-9799	90	67	,	,	PUNCT
taxlaw-9799	90	68	and	and	CCONJ
taxlaw-9799	90	69	the	the	DET
taxlaw-9799	90	70	skills	skill	NOUN
taxlaw-9799	90	71	of	of	ADP
taxlaw-9799	90	72	a	a	DET
taxlaw-9799	90	73	manager	manager	NOUN
taxlaw-9799	90	74	in	in	ADP
taxlaw-9799	90	75	one	one	NUM
taxlaw-9799	90	76	division	division	NOUN
taxlaw-9799	90	77	of	of	ADP
taxlaw-9799	90	78	a	a	DET
taxlaw-9799	90	79	conglomerate	conglomerate	NOUN
taxlaw-9799	90	80	may	may	AUX
taxlaw-9799	90	81	not	not	PART
taxlaw-9799	90	82	be	be	AUX
taxlaw-9799	90	83	transferable	transferable	ADJ
taxlaw-9799	90	84	to	to	ADP
taxlaw-9799	90	85	a	a	DET
taxlaw-9799	90	86	separate	separate	ADJ
taxlaw-9799	90	87	business	business	NOUN
taxlaw-9799	90	88	unit.19	unit.19	PROPN
taxlaw-9799	90	89	thus	thus	ADV
taxlaw-9799	90	90	,	,	PUNCT
taxlaw-9799	90	91	it	it	PRON
taxlaw-9799	90	92	is	be	AUX
taxlaw-9799	90	93	unclear	unclear	ADJ
taxlaw-9799	90	94	whether	whether	SCONJ
taxlaw-9799	90	95	the	the	DET
taxlaw-9799	90	96	conglomerate	conglomerate	NOUN
taxlaw-9799	90	97	’s	’s	PART
taxlaw-9799	90	98	internal	internal	ADJ
taxlaw-9799	90	99	labor	labor	NOUN
taxlaw-9799	90	100	market	market	NOUN
taxlaw-9799	90	101	works	work	VERB
taxlaw-9799	90	102	any	any	PRON
taxlaw-9799	90	103	better	well	ADJ
taxlaw-9799	90	104	than	than	ADP
taxlaw-9799	90	105	an	an	DET
taxlaw-9799	90	106	external	external	ADJ
taxlaw-9799	90	107	market	market	NOUN
taxlaw-9799	90	108	.	.	PUNCT
taxlaw-9799	91	1	and	and	CCONJ
taxlaw-9799	91	2	even	even	ADV
taxlaw-9799	91	3	if	if	SCONJ
taxlaw-9799	91	4	it	it	PRON
taxlaw-9799	91	5	does	do	VERB
taxlaw-9799	91	6	,	,	PUNCT
taxlaw-9799	91	7	it	it	PRON
taxlaw-9799	91	8	remains	remain	VERB
taxlaw-9799	91	9	to	to	PART
taxlaw-9799	91	10	be	be	AUX
taxlaw-9799	91	11	seen	see	VERB
taxlaw-9799	91	12	whether	whether	SCONJ
taxlaw-9799	91	13	the	the	DET
taxlaw-9799	91	14	comparative	comparative	ADJ
taxlaw-9799	91	15	transaction	transaction	NOUN
taxlaw-9799	91	16	costs	cost	NOUN
taxlaw-9799	91	17	offer	offer	VERB
taxlaw-9799	91	18	the	the	DET
taxlaw-9799	91	19	conglomerate	conglomerate	NOUN
taxlaw-9799	91	20	a	a	DET
taxlaw-9799	91	21	significant	significant	ADJ
taxlaw-9799	91	22	advantage	advantage	NOUN
taxlaw-9799	91	23	that	that	PRON
taxlaw-9799	91	24	outweighs	outweigh	VERB
taxlaw-9799	91	25	the	the	DET
taxlaw-9799	91	26	transaction	transaction	NOUN
taxlaw-9799	91	27	costs	cost	NOUN
taxlaw-9799	91	28	of	of	ADP
taxlaw-9799	91	29	an	an	DET
taxlaw-9799	91	30	expensive	expensive	ADJ
taxlaw-9799	91	31	acquisition.20	acquisition.20	PROPN
taxlaw-9799	91	32	third	third	NOUN
taxlaw-9799	91	33	,	,	PUNCT
taxlaw-9799	91	34	the	the	DET
taxlaw-9799	91	35	benefits	benefit	NOUN
taxlaw-9799	91	36	of	of	ADP
taxlaw-9799	91	37	horizontal	horizontal	ADJ
taxlaw-9799	91	38	and	and	CCONJ
taxlaw-9799	91	39	vertical	vertical	ADJ
taxlaw-9799	91	40	integration	integration	NOUN
taxlaw-9799	91	41	may	may	AUX
taxlaw-9799	91	42	be	be	AUX
taxlaw-9799	91	43	short	short	ADV
taxlaw-9799	91	44	-	-	PUNCT
taxlaw-9799	91	45	lived	live	VERB
taxlaw-9799	91	46	,	,	PUNCT
taxlaw-9799	91	47	and	and	CCONJ
taxlaw-9799	91	48	the	the	DET
taxlaw-9799	91	49	increased	increase	VERB
taxlaw-9799	91	50	attention	attention	NOUN
taxlaw-9799	91	51	of	of	ADP
taxlaw-9799	91	52	antitrust	antitrust	ADJ
taxlaw-9799	91	53	regulatory	regulatory	ADJ
taxlaw-9799	91	54	authorities	authority	NOUN
taxlaw-9799	91	55	,	,	PUNCT
taxlaw-9799	91	56	the	the	DET
taxlaw-9799	91	57	risk	risk	NOUN
taxlaw-9799	91	58	of	of	ADP
taxlaw-9799	91	59	hefty	hefty	ADJ
taxlaw-9799	91	60	fines	fine	NOUN
taxlaw-9799	91	61	for	for	ADP
taxlaw-9799	91	62	engaging	engage	VERB
taxlaw-9799	91	63	in	in	ADP
taxlaw-9799	91	64	antitrust	antitrust	ADJ
taxlaw-9799	91	65	violations	violation	NOUN
taxlaw-9799	91	66	in	in	ADP
taxlaw-9799	91	67	multiple	multiple	ADJ
taxlaw-9799	91	68	jurisdictions	jurisdiction	NOUN
taxlaw-9799	91	69	,	,	PUNCT
taxlaw-9799	91	70	and	and	CCONJ
taxlaw-9799	91	71	bids	bid	NOUN
taxlaw-9799	91	72	from	from	ADP
taxlaw-9799	91	73	regulators	regulator	NOUN
taxlaw-9799	91	74	to	to	PART
taxlaw-9799	91	75	reduce	reduce	VERB
taxlaw-9799	91	76	market	market	NOUN
taxlaw-9799	91	77	share	share	NOUN
taxlaw-9799	91	78	by	by	ADP
taxlaw-9799	91	79	being	be	AUX
taxlaw-9799	91	80	broken	break	VERB
taxlaw-9799	91	81	up	up	ADP
taxlaw-9799	91	82	or	or	CCONJ
taxlaw-9799	91	83	reorganized	reorganize	VERB
taxlaw-9799	91	84	may	may	AUX
taxlaw-9799	91	85	outweigh	outweigh	VERB
taxlaw-9799	91	86	any	any	DET
taxlaw-9799	91	87	such	such	ADJ
taxlaw-9799	91	88	benefits	benefit	NOUN
taxlaw-9799	91	89	.	.	PUNCT
taxlaw-9799	92	1	scholars	scholar	NOUN
taxlaw-9799	92	2	during	during	ADP
taxlaw-9799	92	3	the	the	DET
taxlaw-9799	92	4	wave	wave	NOUN
taxlaw-9799	92	5	of	of	ADP
taxlaw-9799	92	6	conglomeration	conglomeration	NOUN
taxlaw-9799	92	7	in	in	ADP
taxlaw-9799	92	8	the	the	DET
taxlaw-9799	92	9	1960s	1960	NOUN
taxlaw-9799	92	10	and	and	CCONJ
taxlaw-9799	92	11	1970s	1970	NOUN
taxlaw-9799	92	12	sounded	sound	VERB
taxlaw-9799	92	13	the	the	DET
taxlaw-9799	92	14	alarm	alarm	NOUN
taxlaw-9799	92	15	that	that	SCONJ
taxlaw-9799	92	16	the	the	DET
taxlaw-9799	92	17	ubiquitous	ubiquitous	ADJ
taxlaw-9799	92	18	amassing	amassing	NOUN
taxlaw-9799	92	19	of	of	ADP
taxlaw-9799	92	20	such	such	ADJ
taxlaw-9799	92	21	large	large	ADJ
taxlaw-9799	92	22	concentrations	concentration	NOUN
taxlaw-9799	92	23	of	of	ADP
taxlaw-9799	92	24	wealth	wealth	NOUN
taxlaw-9799	92	25	and	and	CCONJ
taxlaw-9799	92	26	the	the	DET
taxlaw-9799	92	27	combination	combination	NOUN
taxlaw-9799	92	28	of	of	ADP
taxlaw-9799	92	29	such	such	DET
taxlaw-9799	92	30	a	a	DET
taxlaw-9799	92	31	wide	wide	ADJ
taxlaw-9799	92	32	array	array	NOUN
taxlaw-9799	92	33	of	of	ADP
taxlaw-9799	92	34	diverse	diverse	ADJ
taxlaw-9799	92	35	business	business	NOUN
taxlaw-9799	92	36	units	unit	NOUN
taxlaw-9799	92	37	were	be	AUX
taxlaw-9799	92	38	quickly	quickly	ADV
taxlaw-9799	92	39	creating	create	VERB
taxlaw-9799	92	40	cumbersome	cumbersome	ADJ
taxlaw-9799	92	41	,	,	PUNCT
taxlaw-9799	92	42	bureaucratic	bureaucratic	ADJ
taxlaw-9799	92	43	institutions	institution	NOUN
taxlaw-9799	92	44	that	that	PRON
taxlaw-9799	92	45	threatened	threaten	VERB
taxlaw-9799	92	46	the	the	DET
taxlaw-9799	92	47	economy	economy	NOUN
taxlaw-9799	92	48	and	and	CCONJ
taxlaw-9799	92	49	even	even	ADV
taxlaw-9799	92	50	democracy.21	democracy.21	PROPN
taxlaw-9799	92	51	fourth	fourth	ADJ
taxlaw-9799	92	52	,	,	PUNCT
taxlaw-9799	92	53	companies	company	NOUN
taxlaw-9799	92	54	can	can	AUX
taxlaw-9799	92	55	achieve	achieve	VERB
taxlaw-9799	92	56	immunity	immunity	NOUN
taxlaw-9799	92	57	from	from	ADP
taxlaw-9799	92	58	takeovers	takeover	NOUN
taxlaw-9799	92	59	without	without	ADP
taxlaw-9799	92	60	growing	grow	VERB
taxlaw-9799	92	61	into	into	ADP
taxlaw-9799	92	62	corporate	corporate	ADJ
taxlaw-9799	92	63	titans	titan	NOUN
taxlaw-9799	92	64	.	.	PUNCT
taxlaw-9799	93	1	through	through	ADP
taxlaw-9799	93	2	a	a	DET
taxlaw-9799	93	3	shareholder	shareholder	NOUN
taxlaw-9799	93	4	rights	right	NOUN
taxlaw-9799	93	5	agreement	agreement	NOUN
taxlaw-9799	93	6	or	or	CCONJ
taxlaw-9799	93	7	“	"	PUNCT
taxlaw-9799	93	8	poison	poison	NOUN
taxlaw-9799	93	9	pill	pill	NOUN
taxlaw-9799	93	10	,	,	PUNCT
taxlaw-9799	93	11	”	"	PUNCT
taxlaw-9799	93	12	a	a	DET
taxlaw-9799	93	13	board	board	NOUN
taxlaw-9799	93	14	of	of	ADP
taxlaw-9799	93	15	directors	director	NOUN
taxlaw-9799	93	16	without	without	ADP
taxlaw-9799	93	17	shareholder	shareholder	NOUN
taxlaw-9799	93	18	approval	approval	NOUN
taxlaw-9799	93	19	can	can	AUX
taxlaw-9799	93	20	force	force	VERB
taxlaw-9799	93	21	a	a	DET
taxlaw-9799	93	22	hostile	hostile	ADJ
taxlaw-9799	93	23	acquirer	acquirer	NOUN
taxlaw-9799	93	24	to	to	PART
taxlaw-9799	93	25	become	become	VERB
taxlaw-9799	93	26	friendly	friendly	ADJ
taxlaw-9799	93	27	.	.	PUNCT
taxlaw-9799	94	1	put	put	VERB
taxlaw-9799	94	2	differently	differently	ADV
taxlaw-9799	94	3	,	,	PUNCT
taxlaw-9799	94	4	the	the	DET
taxlaw-9799	94	5	threat	threat	NOUN
taxlaw-9799	94	6	of	of	ADP
taxlaw-9799	94	7	deploying	deploy	VERB
taxlaw-9799	94	8	a	a	DET
taxlaw-9799	94	9	poison	poison	NOUN
taxlaw-9799	94	10	pill	pill	NOUN
taxlaw-9799	94	11	enables	enable	VERB
taxlaw-9799	94	12	the	the	DET
taxlaw-9799	94	13	board	board	NOUN
taxlaw-9799	94	14	to	to	PART
taxlaw-9799	94	15	compel	compel	VERB
taxlaw-9799	94	16	a	a	DET
taxlaw-9799	94	17	hostile	hostile	ADJ
taxlaw-9799	94	18	acquirer	acquirer	NOUN
taxlaw-9799	94	19	to	to	PART
taxlaw-9799	94	20	stop	stop	VERB
taxlaw-9799	94	21	and	and	CCONJ
taxlaw-9799	94	22	negotiate	negotiate	VERB
taxlaw-9799	94	23	.	.	PUNCT
taxlaw-9799	95	1	with	with	ADP
taxlaw-9799	95	2	respect	respect	NOUN
taxlaw-9799	95	3	to	to	ADP
taxlaw-9799	95	4	being	be	AUX
taxlaw-9799	95	5	too	too	ADV
taxlaw-9799	95	6	big	big	ADJ
taxlaw-9799	95	7	to	to	PART
taxlaw-9799	95	8	fail	fail	VERB
taxlaw-9799	95	9	,	,	PUNCT
taxlaw-9799	95	10	increased	increased	ADJ
taxlaw-9799	95	11	size	size	NOUN
taxlaw-9799	95	12	often	often	ADV
taxlaw-9799	95	13	comes	come	VERB
taxlaw-9799	95	14	at	at	ADP
taxlaw-9799	95	15	the	the	DET
taxlaw-9799	95	16	cost	cost	NOUN
taxlaw-9799	95	17	of	of	ADP
taxlaw-9799	95	18	increased	increase	VERB
taxlaw-9799	95	19	regulatory	regulatory	ADJ
taxlaw-9799	95	20	oversight	oversight	NOUN
taxlaw-9799	95	21	,	,	PUNCT
taxlaw-9799	95	22	and	and	CCONJ
taxlaw-9799	95	23	such	such	ADJ
taxlaw-9799	95	24	supervision	supervision	NOUN
taxlaw-9799	95	25	can	can	AUX
taxlaw-9799	95	26	impose	impose	VERB
taxlaw-9799	95	27	additional	additional	ADJ
taxlaw-9799	95	28	costs	cost	NOUN
taxlaw-9799	95	29	on	on	ADP
taxlaw-9799	95	30	the	the	DET
taxlaw-9799	95	31	conglomerate	conglomerate	NOUN
taxlaw-9799	95	32	.	.	PUNCT
taxlaw-9799	96	1	moreover	moreover	ADV
taxlaw-9799	96	2	,	,	PUNCT
taxlaw-9799	96	3	the	the	DET
taxlaw-9799	96	4	empire	empire	NOUN
taxlaw-9799	96	5	-	-	PUNCT
taxlaw-9799	96	6	building	building	NOUN
taxlaw-9799	96	7	hypothesis	hypothesis	NOUN
taxlaw-9799	96	8	posits	posit	NOUN
taxlaw-9799	96	9	that	that	SCONJ
taxlaw-9799	96	10	conglomeration	conglomeration	NOUN
taxlaw-9799	96	11	may	may	AUX
taxlaw-9799	96	12	result	result	VERB
taxlaw-9799	96	13	from	from	ADP
taxlaw-9799	96	14	corporate	corporate	ADJ
taxlaw-9799	96	15	managers	manager	NOUN
taxlaw-9799	96	16	’	’	PART
taxlaw-9799	96	17	desire	desire	NOUN
taxlaw-9799	96	18	to	to	PART
taxlaw-9799	96	19	seek	seek	VERB
taxlaw-9799	96	20	growth	growth	NOUN
taxlaw-9799	96	21	in	in	ADP
taxlaw-9799	96	22	firm	firm	ADJ
taxlaw-9799	96	23	size	size	NOUN
taxlaw-9799	96	24	not	not	PART
taxlaw-9799	96	25	to	to	PART
taxlaw-9799	96	26	maximize	maximize	VERB
taxlaw-9799	96	27	share	share	NOUN
taxlaw-9799	96	28	price	price	NOUN
taxlaw-9799	96	29	but	but	CCONJ
taxlaw-9799	96	30	instead	instead	ADV
taxlaw-9799	96	31	“	"	PUNCT
taxlaw-9799	96	32	to	to	PART
taxlaw-9799	96	33	justify	justify	VERB
taxlaw-9799	96	34	better	well	ADJ
taxlaw-9799	96	35	compensation	compensation	NOUN
taxlaw-9799	96	36	and	and	CCONJ
taxlaw-9799	96	37	perquisites	perquisite	NOUN
taxlaw-9799	96	38	,	,	PUNCT
taxlaw-9799	96	39	to	to	PART
taxlaw-9799	96	40	increase	increase	VERB
taxlaw-9799	96	41	prestige	prestige	NOUN
taxlaw-9799	96	42	,	,	PUNCT
taxlaw-9799	96	43	to	to	PART
taxlaw-9799	96	44	expand	expand	VERB
taxlaw-9799	96	45	opportunities	opportunity	NOUN
taxlaw-9799	96	46	for	for	ADP
taxlaw-9799	96	47	promotion	promotion	NOUN
taxlaw-9799	96	48	,	,	PUNCT
taxlaw-9799	96	49	and	and	CCONJ
taxlaw-9799	96	50	.	.	PUNCT
taxlaw-9799	96	51	.	.	PUNCT
taxlaw-9799	96	52	.	.	PUNCT
taxlaw-9799	97	1	to	to	PART
taxlaw-9799	97	2	protect	protect	VERB
taxlaw-9799	97	3	themselves	themselves	PRON
taxlaw-9799	97	4	from	from	ADP
taxlaw-9799	97	5	the	the	DET
taxlaw-9799	97	6	discipline	discipline	NOUN
taxlaw-9799	97	7	of	of	ADP
taxlaw-9799	97	8	the	the	DET
taxlaw-9799	97	9	market	market	NOUN
taxlaw-9799	97	10	.	.	PUNCT
taxlaw-9799	98	1	”22	”22	PROPN
taxlaw-9799	98	2	often	often	ADV
taxlaw-9799	98	3	,	,	PUNCT
taxlaw-9799	98	4	the	the	PRON
taxlaw-9799	98	5	larger	large	ADJ
taxlaw-9799	98	6	the	the	DET
taxlaw-9799	98	7	firm	firm	NOUN
taxlaw-9799	98	8	,	,	PUNCT
taxlaw-9799	98	9	the	the	PRON
taxlaw-9799	98	10	higher	high	ADJ
taxlaw-9799	98	11	the	the	DET
taxlaw-9799	98	12	salary	salary	NOUN
taxlaw-9799	98	13	and	and	CCONJ
taxlaw-9799	98	14	social	social	ADJ
taxlaw-9799	98	15	standing	standing	NOUN
taxlaw-9799	98	16	of	of	ADP
taxlaw-9799	98	17	its	its	PRON
taxlaw-9799	98	18	managers	manager	NOUN
taxlaw-9799	98	19	.	.	PUNCT
taxlaw-9799	99	1	furthermore	furthermore	ADV
taxlaw-9799	99	2	,	,	PUNCT
taxlaw-9799	99	3	the	the	DET
taxlaw-9799	99	4	hubris	hubris	NOUN
taxlaw-9799	99	5	hypothesis	hypothesis	NOUN
taxlaw-9799	99	6	suggests	suggest	VERB
taxlaw-9799	99	7	that	that	SCONJ
taxlaw-9799	99	8	managers	manager	NOUN
taxlaw-9799	99	9	convince	convince	VERB
taxlaw-9799	99	10	themselves	themselves	PRON
taxlaw-9799	99	11	that	that	SCONJ
taxlaw-9799	99	12	they	they	PRON
taxlaw-9799	99	13	are	be	AUX
taxlaw-9799	99	14	making	make	VERB
taxlaw-9799	99	15	good	good	ADJ
taxlaw-9799	99	16	acquisitions	acquisition	NOUN
taxlaw-9799	99	17	even	even	ADV
taxlaw-9799	99	18	when	when	SCONJ
taxlaw-9799	99	19	they	they	PRON
taxlaw-9799	99	20	are	be	AUX
taxlaw-9799	99	21	not	not	PART
taxlaw-9799	99	22	.	.	PUNCT
taxlaw-9799	100	1	and	and	CCONJ
taxlaw-9799	100	2	the	the	DET
taxlaw-9799	100	3	winner	winner	NOUN
taxlaw-9799	100	4	’s	’s	PART
taxlaw-9799	100	5	curse	curse	NOUN
taxlaw-9799	100	6	hypothesis	hypothesis	NOUN
taxlaw-9799	100	7	helps	help	VERB
taxlaw-9799	100	8	to	to	PART
taxlaw-9799	100	9	explain	explain	VERB
taxlaw-9799	100	10	why	why	SCONJ
taxlaw-9799	100	11	managers	manager	NOUN
taxlaw-9799	100	12	tend	tend	VERB
taxlaw-9799	100	13	to	to	PART
taxlaw-9799	100	14	overpay	overpay	VERB
taxlaw-9799	100	15	for	for	ADP
taxlaw-9799	100	16	acquisitions	acquisition	NOUN
taxlaw-9799	100	17	.	.	PUNCT
taxlaw-9799	101	1	conglomerate	conglomerate	NOUN
taxlaw-9799	101	2	managers	manager	NOUN
taxlaw-9799	101	3	have	have	VERB
taxlaw-9799	101	4	an	an	DET
taxlaw-9799	101	5	incentive	incentive	NOUN
taxlaw-9799	101	6	to	to	PART
taxlaw-9799	101	7	continue	continue	VERB
taxlaw-9799	101	8	17	17	NUM
taxlaw-9799	101	9	see	see	VERB
taxlaw-9799	101	10	i	i	PRON
taxlaw-9799	101	11	d.	d.	PROPN
taxlaw-9799	101	12	at	at	ADP
taxlaw-9799	101	13	330	330	NUM
taxlaw-9799	101	14	-	-	SYM
taxlaw-9799	101	15	31	31	NUM
taxlaw-9799	101	16	.	.	PUNCT
taxlaw-9799	102	1	18	18	NUM
taxlaw-9799	102	2	see	see	VERB
taxlaw-9799	102	3	i	i	PRON
taxlaw-9799	102	4	d.	d.	PROPN
taxlaw-9799	102	5	19	19	NUM
taxlaw-9799	102	6	see	see	VERB
taxlaw-9799	102	7	i	i	PRON
taxlaw-9799	102	8	d.	d.	PROPN
taxlaw-9799	102	9	at	at	ADP
taxlaw-9799	102	10	331	331	NUM
taxlaw-9799	102	11	.	.	PUNCT
taxlaw-9799	102	12	20	20	NUM
taxlaw-9799	102	13	see	see	VERB
taxlaw-9799	102	14	i	i	PRON
taxlaw-9799	102	15	d.	d.	PROPN
taxlaw-9799	102	16	21	21	NUM
taxlaw-9799	102	17	doughtery	doughtery	PROPN
taxlaw-9799	102	18	jr	jr	PROPN
taxlaw-9799	102	19	.	.	PROPN
taxlaw-9799	102	20	warns	warn	VERB
taxlaw-9799	102	21	that	that	SCONJ
taxlaw-9799	102	22	private	private	ADJ
taxlaw-9799	102	23	concentrations	concentration	NOUN
taxlaw-9799	102	24	of	of	ADP
taxlaw-9799	102	25	economic	economic	ADJ
taxlaw-9799	102	26	power	power	NOUN
taxlaw-9799	102	27	may	may	AUX
taxlaw-9799	102	28	breed	breed	VERB
taxlaw-9799	102	29	antidemocratic	antidemocratic	ADJ
taxlaw-9799	102	30	forces	force	NOUN
taxlaw-9799	102	31	that	that	PRON
taxlaw-9799	102	32	could	could	AUX
taxlaw-9799	102	33	threaten	threaten	VERB
taxlaw-9799	102	34	the	the	DET
taxlaw-9799	102	35	fundamental	fundamental	ADJ
taxlaw-9799	102	36	institutions	institution	NOUN
taxlaw-9799	102	37	and	and	CCONJ
taxlaw-9799	102	38	traditions	tradition	NOUN
taxlaw-9799	102	39	of	of	ADP
taxlaw-9799	102	40	the	the	DET
taxlaw-9799	102	41	united	united	PROPN
taxlaw-9799	102	42	states	states	PROPN
taxlaw-9799	102	43	.	.	PUNCT
taxlaw-9799	103	1	see	see	VERB
taxlaw-9799	103	2	alfred	alfred	PROPN
taxlaw-9799	103	3	f.	f.	PROPN
taxlaw-9799	103	4	dougherty	dougherty	PROPN
taxlaw-9799	103	5	jr	jr	PROPN
taxlaw-9799	103	6	.	.	PROPN
taxlaw-9799	103	7	,	,	PUNCT
taxlaw-9799	103	8	concentration	concentration	NOUN
taxlaw-9799	103	9	,	,	PUNCT
taxlaw-9799	103	10	conglomeration	conglomeration	NOUN
taxlaw-9799	103	11	,	,	PUNCT
taxlaw-9799	103	12	and	and	CCONJ
taxlaw-9799	103	13	economic	economic	ADJ
taxlaw-9799	103	14	democracy	democracy	NOUN
taxlaw-9799	103	15	:	:	PUNCT
taxlaw-9799	103	16	a	a	DET
taxlaw-9799	103	17	concurrent	concurrent	ADJ
taxlaw-9799	103	18	divestiture	divestiture	NOUN
taxlaw-9799	103	19	proposal	proposal	NOUN
taxlaw-9799	103	20	,	,	PUNCT
taxlaw-9799	103	21	11	11	NUM
taxlaw-9799	103	22	antitrust	antitrust	PROPN
taxlaw-9799	103	23	l.	l.	PROPN
taxlaw-9799	103	24	&	&	CCONJ
taxlaw-9799	103	25	econ	econ	PROPN
taxlaw-9799	103	26	.	.	PUNCT
taxlaw-9799	104	1	rev	rev	PROPN
taxlaw-9799	104	2	.	.	PROPN
taxlaw-9799	104	3	29	29	NUM
taxlaw-9799	104	4	,	,	PUNCT
taxlaw-9799	104	5	30	30	NUM
taxlaw-9799	104	6	-	-	SYM
taxlaw-9799	104	7	32	32	NUM
taxlaw-9799	104	8	(	(	PUNCT
taxlaw-9799	104	9	1979	1979	NUM
taxlaw-9799	104	10	)	)	PUNCT
taxlaw-9799	104	11	(	(	PUNCT
taxlaw-9799	104	12	“	"	PUNCT
taxlaw-9799	104	13	conglomerate	conglomerate	NOUN
taxlaw-9799	104	14	mergers	merger	NOUN
taxlaw-9799	104	15	realize	realize	VERB
taxlaw-9799	104	16	few	few	ADJ
taxlaw-9799	104	17	,	,	PUNCT
taxlaw-9799	104	18	if	if	SCONJ
taxlaw-9799	104	19	any	any	PRON
taxlaw-9799	104	20	,	,	PUNCT
taxlaw-9799	104	21	efficiencies	efficiency	NOUN
taxlaw-9799	104	22	in	in	ADP
taxlaw-9799	104	23	specific	specific	ADJ
taxlaw-9799	104	24	product	product	NOUN
taxlaw-9799	104	25	markets	market	NOUN
taxlaw-9799	104	26	,	,	PUNCT
taxlaw-9799	104	27	probably	probably	ADV
taxlaw-9799	104	28	confer	confer	VERB
taxlaw-9799	104	29	no	no	DET
taxlaw-9799	104	30	benefits	benefit	NOUN
taxlaw-9799	104	31	on	on	ADP
taxlaw-9799	104	32	the	the	DET
taxlaw-9799	104	33	economy	economy	NOUN
taxlaw-9799	104	34	as	as	ADP
taxlaw-9799	104	35	a	a	DET
taxlaw-9799	104	36	whole	whole	NOUN
taxlaw-9799	104	37	,	,	PUNCT
taxlaw-9799	104	38	and	and	CCONJ
taxlaw-9799	104	39	may	may	AUX
taxlaw-9799	104	40	well	well	ADV
taxlaw-9799	104	41	impose	impose	VERB
taxlaw-9799	104	42	substantial	substantial	ADJ
taxlaw-9799	104	43	long	long	ADJ
taxlaw-9799	104	44	-	-	PUNCT
taxlaw-9799	104	45	term	term	NOUN
taxlaw-9799	104	46	social	social	ADJ
taxlaw-9799	104	47	and	and	CCONJ
taxlaw-9799	104	48	political	political	ADJ
taxlaw-9799	104	49	costs	cost	NOUN
taxlaw-9799	104	50	.	.	PUNCT
taxlaw-9799	104	51	”	"	PUNCT
taxlaw-9799	104	52	)	)	PUNCT
taxlaw-9799	104	53	.	.	PUNCT
taxlaw-9799	105	1	22	22	NUM
taxlaw-9799	105	2	george	george	PROPN
taxlaw-9799	105	3	w.	w.	PROPN
taxlaw-9799	105	4	dent	dent	PROPN
taxlaw-9799	105	5	,	,	PUNCT
taxlaw-9799	105	6	unprofitable	unprofitable	ADJ
taxlaw-9799	105	7	mergers	merger	NOUN
taxlaw-9799	105	8	:	:	PUNCT
taxlaw-9799	105	9	toward	toward	ADP
taxlaw-9799	105	10	a	a	DET
taxlaw-9799	105	11	market	market	NOUN
taxlaw-9799	105	12	-	-	PUNCT
taxlaw-9799	105	13	based	base	VERB
taxlaw-9799	105	14	legal	legal	ADJ
taxlaw-9799	105	15	response	response	NOUN
taxlaw-9799	105	16	,	,	PUNCT
taxlaw-9799	105	17	80	80	NUM
taxlaw-9799	105	18	nw	nw	NOUN
taxlaw-9799	105	19	.	.	PUNCT
taxlaw-9799	105	20	u.	u.	PROPN
taxlaw-9799	105	21	l.	l.	PROPN
taxlaw-9799	105	22	rev	rev	PROPN
taxlaw-9799	105	23	.	.	PROPN
taxlaw-9799	105	24	777	777	NUM
taxlaw-9799	105	25	,	,	PUNCT
taxlaw-9799	105	26	781	781	NUM
taxlaw-9799	105	27	(	(	PUNCT
taxlaw-9799	105	28	1986	1986	NUM
taxlaw-9799	105	29	)	)	PUNCT
taxlaw-9799	105	30	.	.	PUNCT
taxlaw-9799	106	1	171	171	NUM
taxlaw-9799	106	2	columbia	columbia	PROPN
taxlaw-9799	106	3	journal	journal	PROPN
taxlaw-9799	106	4	of	of	ADP
taxlaw-9799	106	5	tax	tax	NOUN
taxlaw-9799	106	6	law	law	NOUN
taxlaw-9799	107	1	[	[	X
taxlaw-9799	107	2	vol	vol	NOUN
taxlaw-9799	107	3	:	:	PUNCT
taxlaw-9799	107	4	13:2	13:2	NUM
taxlaw-9799	107	5	to	to	PART
taxlaw-9799	107	6	grow	grow	VERB
taxlaw-9799	107	7	the	the	DET
taxlaw-9799	107	8	firm	firm	NOUN
taxlaw-9799	107	9	through	through	ADP
taxlaw-9799	107	10	value	value	NOUN
taxlaw-9799	107	11	-	-	PUNCT
taxlaw-9799	107	12	neutral	neutral	ADJ
taxlaw-9799	107	13	or	or	CCONJ
taxlaw-9799	107	14	value	value	NOUN
taxlaw-9799	107	15	-	-	PUNCT
taxlaw-9799	107	16	destroying	destroy	VERB
taxlaw-9799	107	17	acquisitions	acquisition	NOUN
taxlaw-9799	107	18	.	.	PUNCT
taxlaw-9799	108	1	such	such	ADJ
taxlaw-9799	108	2	misguided	misguided	ADJ
taxlaw-9799	108	3	acquisitions	acquisition	NOUN
taxlaw-9799	108	4	are	be	AUX
taxlaw-9799	108	5	one	one	NUM
taxlaw-9799	108	6	way	way	NOUN
taxlaw-9799	108	7	in	in	ADP
taxlaw-9799	108	8	which	which	PRON
taxlaw-9799	108	9	cash	cash	NOUN
taxlaw-9799	108	10	-	-	PUNCT
taxlaw-9799	108	11	rich	rich	ADJ
taxlaw-9799	108	12	conglomerates	conglomerate	NOUN
taxlaw-9799	108	13	waste	waste	VERB
taxlaw-9799	108	14	excess	excess	ADJ
taxlaw-9799	108	15	cash.23	cash.23	NOUN
taxlaw-9799	108	16	additionally	additionally	ADV
taxlaw-9799	108	17	,	,	PUNCT
taxlaw-9799	108	18	studies	study	NOUN
taxlaw-9799	108	19	have	have	AUX
taxlaw-9799	108	20	found	find	VERB
taxlaw-9799	108	21	that	that	SCONJ
taxlaw-9799	108	22	conglomerates	conglomerate	NOUN
taxlaw-9799	108	23	spend	spend	VERB
taxlaw-9799	108	24	less	less	ADJ
taxlaw-9799	108	25	on	on	ADP
taxlaw-9799	108	26	research	research	NOUN
taxlaw-9799	108	27	and	and	CCONJ
taxlaw-9799	108	28	development	development	NOUN
taxlaw-9799	108	29	than	than	ADP
taxlaw-9799	108	30	their	their	PRON
taxlaw-9799	108	31	industry	industry	NOUN
taxlaw-9799	108	32	peers.24	peers.24	NOUN
taxlaw-9799	108	33	conglomerate	conglomerate	NOUN
taxlaw-9799	108	34	managers	manager	NOUN
taxlaw-9799	108	35	may	may	AUX
taxlaw-9799	108	36	succeed	succeed	VERB
taxlaw-9799	108	37	in	in	ADP
taxlaw-9799	108	38	stabilizing	stabilize	VERB
taxlaw-9799	108	39	a	a	DET
taxlaw-9799	108	40	firm	firm	NOUN
taxlaw-9799	108	41	and	and	CCONJ
taxlaw-9799	108	42	its	its	PRON
taxlaw-9799	108	43	income	income	NOUN
taxlaw-9799	108	44	stream	stream	NOUN
taxlaw-9799	108	45	,	,	PUNCT
taxlaw-9799	108	46	but	but	CCONJ
taxlaw-9799	108	47	such	such	ADJ
taxlaw-9799	108	48	stabilization	stabilization	NOUN
taxlaw-9799	108	49	may	may	AUX
taxlaw-9799	108	50	offer	offer	VERB
taxlaw-9799	108	51	no	no	DET
taxlaw-9799	108	52	benefit	benefit	NOUN
taxlaw-9799	108	53	to	to	ADP
taxlaw-9799	108	54	shareholders	shareholder	NOUN
taxlaw-9799	108	55	.	.	PUNCT
taxlaw-9799	109	1	it	it	PRON
taxlaw-9799	109	2	is	be	AUX
taxlaw-9799	109	3	estimated	estimate	VERB
taxlaw-9799	109	4	that	that	SCONJ
taxlaw-9799	109	5	one	one	NUM
taxlaw-9799	109	6	-	-	PUNCT
taxlaw-9799	109	7	third	third	NOUN
taxlaw-9799	109	8	of	of	ADP
taxlaw-9799	109	9	all	all	DET
taxlaw-9799	109	10	entities	entity	NOUN
taxlaw-9799	109	11	acquired	acquire	VERB
taxlaw-9799	109	12	between	between	ADP
taxlaw-9799	109	13	1950	1950	NUM
taxlaw-9799	109	14	and	and	CCONJ
taxlaw-9799	109	15	1977	1977	NUM
taxlaw-9799	109	16	were	be	AUX
taxlaw-9799	109	17	later	later	ADV
taxlaw-9799	109	18	sold	sell	VERB
taxlaw-9799	109	19	off.25	off.25	NOUN
taxlaw-9799	109	20	conglomerates	conglomerate	NOUN
taxlaw-9799	109	21	have	have	AUX
taxlaw-9799	109	22	been	be	AUX
taxlaw-9799	109	23	found	find	VERB
taxlaw-9799	109	24	to	to	PART
taxlaw-9799	109	25	have	have	VERB
taxlaw-9799	109	26	low	low	ADJ
taxlaw-9799	109	27	tobin	tobin	NOUN
taxlaw-9799	109	28	’s	’s	PART
taxlaw-9799	109	29	q	q	NOUN
taxlaw-9799	109	30	ratios	ratio	NOUN
taxlaw-9799	109	31	—	—	PUNCT
taxlaw-9799	109	32	a	a	DET
taxlaw-9799	109	33	comparison	comparison	NOUN
taxlaw-9799	109	34	of	of	ADP
taxlaw-9799	109	35	the	the	DET
taxlaw-9799	109	36	market	market	NOUN
taxlaw-9799	109	37	value	value	NOUN
taxlaw-9799	109	38	and	and	CCONJ
taxlaw-9799	109	39	replacement	replacement	NOUN
taxlaw-9799	109	40	value	value	NOUN
taxlaw-9799	109	41	of	of	ADP
taxlaw-9799	109	42	a	a	DET
taxlaw-9799	109	43	company	company	NOUN
taxlaw-9799	109	44	’s	’s	PART
taxlaw-9799	109	45	physical	physical	ADJ
taxlaw-9799	109	46	assets	asset	NOUN
taxlaw-9799	109	47	—	—	PUNCT
taxlaw-9799	109	48	which	which	PRON
taxlaw-9799	109	49	suggests	suggest	VERB
taxlaw-9799	109	50	high	high	ADJ
taxlaw-9799	109	51	levels	level	NOUN
taxlaw-9799	109	52	of	of	ADP
taxlaw-9799	109	53	managerial	managerial	ADJ
taxlaw-9799	109	54	inefficiency	inefficiency	NOUN
taxlaw-9799	109	55	in	in	ADP
taxlaw-9799	109	56	deriving	derive	VERB
taxlaw-9799	109	57	value	value	NOUN
taxlaw-9799	109	58	from	from	ADP
taxlaw-9799	109	59	corporate	corporate	ADJ
taxlaw-9799	109	60	assets.26	assets.26	ADJ
taxlaw-9799	109	61	economists	economist	NOUN
taxlaw-9799	109	62	believe	believe	VERB
taxlaw-9799	109	63	that	that	SCONJ
taxlaw-9799	109	64	focus	focus	NOUN
taxlaw-9799	109	65	,	,	PUNCT
taxlaw-9799	109	66	fit	fit	ADJ
taxlaw-9799	109	67	,	,	PUNCT
taxlaw-9799	109	68	and	and	CCONJ
taxlaw-9799	109	69	specialization	specialization	NOUN
taxlaw-9799	109	70	in	in	ADP
taxlaw-9799	109	71	a	a	DET
taxlaw-9799	109	72	particular	particular	ADJ
taxlaw-9799	109	73	market	market	NOUN
taxlaw-9799	109	74	are	be	AUX
taxlaw-9799	109	75	vital	vital	ADJ
taxlaw-9799	109	76	for	for	ADP
taxlaw-9799	109	77	value	value	NOUN
taxlaw-9799	109	78	enhancement	enhancement	NOUN
taxlaw-9799	109	79	,	,	PUNCT
taxlaw-9799	109	80	whereas	whereas	SCONJ
taxlaw-9799	109	81	conglomerate	conglomerate	NOUN
taxlaw-9799	109	82	diversification	diversification	NOUN
taxlaw-9799	109	83	across	across	ADP
taxlaw-9799	109	84	multiple	multiple	ADJ
taxlaw-9799	109	85	unrelated	unrelated	ADJ
taxlaw-9799	109	86	industries	industry	NOUN
taxlaw-9799	109	87	tends	tend	VERB
taxlaw-9799	109	88	to	to	PART
taxlaw-9799	109	89	drain	drain	VERB
taxlaw-9799	109	90	operational	operational	ADJ
taxlaw-9799	109	91	efficiency	efficiency	NOUN
taxlaw-9799	109	92	and	and	CCONJ
taxlaw-9799	109	93	shareholder	shareholder	NOUN
taxlaw-9799	109	94	value.27	value.27	PROPN
taxlaw-9799	109	95	for	for	ADP
taxlaw-9799	109	96	all	all	PRON
taxlaw-9799	109	97	of	of	ADP
taxlaw-9799	109	98	these	these	DET
taxlaw-9799	109	99	reasons	reason	NOUN
taxlaw-9799	109	100	,	,	PUNCT
taxlaw-9799	109	101	conglomeration	conglomeration	NOUN
taxlaw-9799	109	102	is	be	AUX
taxlaw-9799	109	103	generally	generally	ADV
taxlaw-9799	109	104	viewed	view	VERB
taxlaw-9799	109	105	as	as	ADP
taxlaw-9799	109	106	an	an	DET
taxlaw-9799	109	107	undesirable	undesirable	ADJ
taxlaw-9799	109	108	,	,	PUNCT
taxlaw-9799	109	109	inefficient	inefficient	ADJ
taxlaw-9799	109	110	business	business	NOUN
taxlaw-9799	109	111	structure	structure	NOUN
taxlaw-9799	109	112	.	.	PUNCT
taxlaw-9799	110	1	whatever	whatever	PRON
taxlaw-9799	110	2	benefits	benefit	VERB
taxlaw-9799	110	3	conglomerate	conglomerate	NOUN
taxlaw-9799	110	4	managers	manager	NOUN
taxlaw-9799	110	5	touted	tout	VERB
taxlaw-9799	110	6	during	during	ADP
taxlaw-9799	110	7	the	the	DET
taxlaw-9799	110	8	wave	wave	NOUN
taxlaw-9799	110	9	of	of	ADP
taxlaw-9799	110	10	conglomeration	conglomeration	NOUN
taxlaw-9799	110	11	that	that	PRON
taxlaw-9799	110	12	ensued	ensue	VERB
taxlaw-9799	110	13	after	after	SCONJ
taxlaw-9799	110	14	world	world	PROPN
taxlaw-9799	110	15	war	war	PROPN
taxlaw-9799	110	16	ii	ii	PROPN
taxlaw-9799	110	17	can	can	AUX
taxlaw-9799	110	18	be	be	AUX
taxlaw-9799	110	19	achieved	achieve	VERB
taxlaw-9799	110	20	through	through	ADP
taxlaw-9799	110	21	more	more	ADV
taxlaw-9799	110	22	efficient	efficient	ADJ
taxlaw-9799	110	23	means	mean	NOUN
taxlaw-9799	110	24	.	.	PUNCT
taxlaw-9799	111	1	a	a	DET
taxlaw-9799	111	2	tax	tax	NOUN
taxlaw-9799	111	3	-	-	PUNCT
taxlaw-9799	111	4	free	free	ADJ
taxlaw-9799	111	5	spin	spin	NOUN
taxlaw-9799	111	6	-	-	PUNCT
taxlaw-9799	111	7	off	off	NOUN
taxlaw-9799	111	8	is	be	AUX
taxlaw-9799	111	9	the	the	DET
taxlaw-9799	111	10	best	good	ADJ
taxlaw-9799	111	11	way	way	NOUN
taxlaw-9799	111	12	for	for	SCONJ
taxlaw-9799	111	13	a	a	DET
taxlaw-9799	111	14	conglomerate	conglomerate	NOUN
taxlaw-9799	111	15	to	to	PART
taxlaw-9799	111	16	downsize	downsize	VERB
taxlaw-9799	111	17	.	.	PUNCT
taxlaw-9799	112	1	ii	ii	PROPN
taxlaw-9799	112	2	.	.	PUNCT
taxlaw-9799	112	3	conglomerate	conglomerate	NOUN
taxlaw-9799	112	4	spin	spin	NOUN
taxlaw-9799	112	5	-	-	PUNCT
taxlaw-9799	112	6	offs	off	NOUN
taxlaw-9799	112	7	spin	spin	NOUN
taxlaw-9799	112	8	-	-	PUNCT
taxlaw-9799	112	9	offs	off	NOUN
taxlaw-9799	112	10	are	be	AUX
taxlaw-9799	112	11	a	a	DET
taxlaw-9799	112	12	kind	kind	NOUN
taxlaw-9799	112	13	of	of	ADP
taxlaw-9799	112	14	corporate	corporate	ADJ
taxlaw-9799	112	15	division	division	NOUN
taxlaw-9799	112	16	.	.	PUNCT
taxlaw-9799	113	1	a	a	DET
taxlaw-9799	113	2	spin	spin	NOUN
taxlaw-9799	113	3	-	-	PUNCT
taxlaw-9799	113	4	off	off	NOUN
taxlaw-9799	113	5	is	be	AUX
taxlaw-9799	113	6	a	a	DET
taxlaw-9799	113	7	distribution	distribution	NOUN
taxlaw-9799	113	8	of	of	ADP
taxlaw-9799	113	9	one	one	NUM
taxlaw-9799	113	10	of	of	ADP
taxlaw-9799	113	11	the	the	DET
taxlaw-9799	113	12	businesses	business	NOUN
taxlaw-9799	113	13	of	of	ADP
taxlaw-9799	113	14	a	a	DET
taxlaw-9799	113	15	distributing	distribute	VERB
taxlaw-9799	113	16	corporation	corporation	NOUN
taxlaw-9799	113	17	(	(	PUNCT
taxlaw-9799	113	18	“	"	PUNCT
taxlaw-9799	113	19	distributing	distribute	VERB
taxlaw-9799	113	20	”	"	PUNCT
taxlaw-9799	113	21	or	or	CCONJ
taxlaw-9799	113	22	“	"	PUNCT
taxlaw-9799	113	23	parent	parent	NOUN
taxlaw-9799	113	24	”	"	PUNCT
taxlaw-9799	113	25	)	)	PUNCT
taxlaw-9799	113	26	pro	pro	ADJ
taxlaw-9799	113	27	rata	rata	NOUN
taxlaw-9799	113	28	to	to	ADP
taxlaw-9799	113	29	its	its	PRON
taxlaw-9799	113	30	shareholders	shareholder	NOUN
taxlaw-9799	113	31	,	,	PUNCT
taxlaw-9799	113	32	who	who	PRON
taxlaw-9799	113	33	do	do	AUX
taxlaw-9799	113	34	not	not	PART
taxlaw-9799	113	35	surrender	surrender	VERB
taxlaw-9799	113	36	any	any	PRON
taxlaw-9799	113	37	of	of	ADP
taxlaw-9799	113	38	their	their	PRON
taxlaw-9799	113	39	stock	stock	NOUN
taxlaw-9799	113	40	.	.	PUNCT
taxlaw-9799	114	1	put	put	VERB
taxlaw-9799	114	2	differently	differently	ADV
taxlaw-9799	114	3	,	,	PUNCT
taxlaw-9799	114	4	in	in	ADP
taxlaw-9799	114	5	a	a	DET
taxlaw-9799	114	6	spin	spin	NOUN
taxlaw-9799	114	7	-	-	PUNCT
taxlaw-9799	114	8	off	off	NOUN
taxlaw-9799	114	9	,	,	PUNCT
taxlaw-9799	114	10	the	the	DET
taxlaw-9799	114	11	parent	parent	NOUN
taxlaw-9799	114	12	separates	separate	VERB
taxlaw-9799	114	13	from	from	ADP
taxlaw-9799	114	14	one	one	NUM
taxlaw-9799	114	15	of	of	ADP
taxlaw-9799	114	16	its	its	PRON
taxlaw-9799	114	17	subsidiaries	subsidiary	NOUN
taxlaw-9799	114	18	by	by	ADP
taxlaw-9799	114	19	distributing	distribute	VERB
taxlaw-9799	114	20	all	all	PRON
taxlaw-9799	114	21	of	of	ADP
taxlaw-9799	114	22	that	that	DET
taxlaw-9799	114	23	subsidiary	subsidiary	NOUN
taxlaw-9799	114	24	’s	’s	PART
taxlaw-9799	114	25	stock	stock	NOUN
taxlaw-9799	114	26	to	to	ADP
taxlaw-9799	114	27	the	the	DET
taxlaw-9799	114	28	parent	parent	NOUN
taxlaw-9799	114	29	’s	’s	PART
taxlaw-9799	114	30	shareholders	shareholder	NOUN
taxlaw-9799	114	31	.	.	PUNCT
taxlaw-9799	115	1	the	the	DET
taxlaw-9799	115	2	result	result	NOUN
taxlaw-9799	115	3	is	be	AUX
taxlaw-9799	115	4	that	that	SCONJ
taxlaw-9799	115	5	after	after	ADP
taxlaw-9799	115	6	the	the	DET
taxlaw-9799	115	7	transaction	transaction	NOUN
taxlaw-9799	115	8	,	,	PUNCT
taxlaw-9799	115	9	the	the	DET
taxlaw-9799	115	10	parent	parent	NOUN
taxlaw-9799	115	11	and	and	CCONJ
taxlaw-9799	115	12	the	the	DET
taxlaw-9799	115	13	spun	spin	VERB
taxlaw-9799	115	14	-	-	PUNCT
taxlaw-9799	115	15	off	off	ADP
taxlaw-9799	115	16	subsidiary	subsidiary	NOUN
taxlaw-9799	115	17	(	(	PUNCT
taxlaw-9799	115	18	“	"	PUNCT
taxlaw-9799	115	19	spinco	spinco	NOUN
taxlaw-9799	115	20	”	"	PUNCT
taxlaw-9799	115	21	)	)	PUNCT
taxlaw-9799	115	22	become	become	VERB
taxlaw-9799	115	23	independent	independent	ADJ
taxlaw-9799	115	24	entities	entity	NOUN
taxlaw-9799	115	25	,	,	PUNCT
taxlaw-9799	115	26	although	although	SCONJ
taxlaw-9799	115	27	the	the	DET
taxlaw-9799	115	28	parent	parent	NOUN
taxlaw-9799	115	29	’s	’s	PART
taxlaw-9799	115	30	shareholders	shareholder	NOUN
taxlaw-9799	115	31	continue	continue	VERB
taxlaw-9799	115	32	to	to	PART
taxlaw-9799	115	33	own	own	VERB
taxlaw-9799	115	34	stock	stock	NOUN
taxlaw-9799	115	35	in	in	ADP
taxlaw-9799	115	36	both	both	CCONJ
taxlaw-9799	115	37	the	the	DET
taxlaw-9799	115	38	parent	parent	NOUN
taxlaw-9799	115	39	and	and	CCONJ
taxlaw-9799	115	40	the	the	DET
taxlaw-9799	115	41	spinco	spinco	NOUN
taxlaw-9799	115	42	.	.	PUNCT
taxlaw-9799	116	1	a	a	DET
taxlaw-9799	116	2	key	key	ADJ
taxlaw-9799	116	3	aspect	aspect	NOUN
taxlaw-9799	116	4	in	in	ADP
taxlaw-9799	116	5	executing	execute	VERB
taxlaw-9799	116	6	a	a	DET
taxlaw-9799	116	7	spin	spin	NOUN
taxlaw-9799	116	8	-	-	PUNCT
taxlaw-9799	116	9	off	off	NOUN
taxlaw-9799	116	10	is	be	AUX
taxlaw-9799	116	11	to	to	PART
taxlaw-9799	116	12	ensure	ensure	VERB
taxlaw-9799	116	13	that	that	SCONJ
taxlaw-9799	116	14	the	the	DET
taxlaw-9799	116	15	spin	spin	NOUN
taxlaw-9799	116	16	-	-	PUNCT
taxlaw-9799	116	17	off	off	NOUN
taxlaw-9799	116	18	is	be	AUX
taxlaw-9799	116	19	structured	structure	VERB
taxlaw-9799	116	20	as	as	ADP
taxlaw-9799	116	21	“	"	PUNCT
taxlaw-9799	116	22	tax	tax	NOUN
taxlaw-9799	116	23	-	-	PUNCT
taxlaw-9799	116	24	free	free	ADJ
taxlaw-9799	116	25	”	"	PUNCT
taxlaw-9799	116	26	under	under	ADP
taxlaw-9799	116	27	section	section	NOUN
taxlaw-9799	116	28	355	355	NUM
taxlaw-9799	116	29	for	for	ADP
taxlaw-9799	116	30	both	both	CCONJ
taxlaw-9799	116	31	the	the	DET
taxlaw-9799	116	32	parent	parent	NOUN
taxlaw-9799	116	33	and	and	CCONJ
taxlaw-9799	116	34	the	the	DET
taxlaw-9799	116	35	parent	parent	NOUN
taxlaw-9799	116	36	’s	’s	PART
taxlaw-9799	116	37	shareholders.28	shareholders.28	NOUN
taxlaw-9799	116	38	at	at	ADP
taxlaw-9799	116	39	the	the	DET
taxlaw-9799	116	40	corporate	corporate	ADJ
taxlaw-9799	116	41	level	level	NOUN
taxlaw-9799	116	42	,	,	PUNCT
taxlaw-9799	116	43	the	the	DET
taxlaw-9799	116	44	advantage	advantage	NOUN
taxlaw-9799	116	45	of	of	ADP
taxlaw-9799	116	46	the	the	DET
taxlaw-9799	116	47	spin	spin	NOUN
taxlaw-9799	116	48	-	-	PUNCT
taxlaw-9799	116	49	off	off	NOUN
taxlaw-9799	116	50	is	be	AUX
taxlaw-9799	116	51	the	the	DET
taxlaw-9799	116	52	permanent	permanent	ADJ
taxlaw-9799	116	53	tax	tax	NOUN
taxlaw-9799	116	54	benefit	benefit	NOUN
taxlaw-9799	116	55	of	of	ADP
taxlaw-9799	116	56	truly	truly	ADV
taxlaw-9799	116	57	tax	tax	NOUN
taxlaw-9799	116	58	-	-	PUNCT
taxlaw-9799	116	59	free	free	ADJ
taxlaw-9799	116	60	treatment	treatment	NOUN
taxlaw-9799	116	61	,	,	PUNCT
taxlaw-9799	116	62	which	which	PRON
taxlaw-9799	116	63	can	can	AUX
taxlaw-9799	116	64	save	save	VERB
taxlaw-9799	116	65	conglomerates	conglomerate	NOUN
taxlaw-9799	116	66	billions	billion	NOUN
taxlaw-9799	116	67	of	of	ADP
taxlaw-9799	116	68	dollars	dollar	NOUN
taxlaw-9799	116	69	.	.	PUNCT
taxlaw-9799	117	1	non	non	ADJ
taxlaw-9799	117	2	-	-	NOUN
taxlaw-9799	117	3	taxation	taxation	NOUN
taxlaw-9799	117	4	at	at	ADP
taxlaw-9799	117	5	the	the	DET
taxlaw-9799	117	6	entity	entity	NOUN
taxlaw-9799	117	7	level	level	NOUN
taxlaw-9799	117	8	is	be	AUX
taxlaw-9799	117	9	the	the	DET
taxlaw-9799	117	10	primary	primary	ADJ
taxlaw-9799	117	11	gift	gift	NOUN
taxlaw-9799	117	12	that	that	PRON
taxlaw-9799	117	13	the	the	DET
taxlaw-9799	117	14	i.r.s	i.r.	NOUN
taxlaw-9799	117	15	.	.	PUNCT
taxlaw-9799	118	1	23	23	NUM
taxlaw-9799	118	2	see	see	VERB
taxlaw-9799	118	3	gilson	gilson	PROPN
taxlaw-9799	118	4	et	et	PROPN
taxlaw-9799	118	5	al	al	PROPN
taxlaw-9799	118	6	.	.	PROPN
taxlaw-9799	118	7	,	,	PUNCT
taxlaw-9799	118	8	supra	supra	PROPN
taxlaw-9799	118	9	note	note	PROPN
taxlaw-9799	118	10	7	7	NUM
taxlaw-9799	118	11	,	,	PUNCT
taxlaw-9799	118	12	at	at	ADP
taxlaw-9799	118	13	383	383	NUM
taxlaw-9799	118	14	.	.	PUNCT
taxlaw-9799	119	1	24	24	NUM
taxlaw-9799	119	2	see	see	VERB
taxlaw-9799	119	3	i	i	PRON
taxlaw-9799	119	4	d.	d.	PROPN
taxlaw-9799	119	5	at	at	ADP
taxlaw-9799	119	6	343	343	NUM
taxlaw-9799	119	7	.	.	PUNCT
taxlaw-9799	120	1	25	25	NUM
taxlaw-9799	121	1	i	i	PRON
taxlaw-9799	121	2	d.	d.	NOUN
taxlaw-9799	121	3	at	at	ADP
taxlaw-9799	121	4	341	341	NUM
taxlaw-9799	121	5	.	.	PUNCT
taxlaw-9799	122	1	26	26	NUM
taxlaw-9799	122	2	see	see	VERB
taxlaw-9799	122	3	i	i	PRON
taxlaw-9799	122	4	d.	d.	PROPN
taxlaw-9799	122	5	27	27	NUM
taxlaw-9799	122	6	see	see	VERB
taxlaw-9799	122	7	i	i	PRON
taxlaw-9799	122	8	d.	d.	PROPN
taxlaw-9799	122	9	at	at	ADP
taxlaw-9799	122	10	331	331	NUM
taxlaw-9799	122	11	(	(	PUNCT
taxlaw-9799	122	12	“	"	PUNCT
taxlaw-9799	122	13	[	[	X
taxlaw-9799	122	14	o]utside	o]utside	ADJ
taxlaw-9799	122	15	investors	investor	NOUN
taxlaw-9799	122	16	can	can	AUX
taxlaw-9799	122	17	specialize	specialize	VERB
taxlaw-9799	122	18	.	.	PUNCT
taxlaw-9799	123	1	one	one	NUM
taxlaw-9799	123	2	investor	investor	NOUN
taxlaw-9799	123	3	,	,	PUNCT
taxlaw-9799	123	4	or	or	CCONJ
taxlaw-9799	123	5	analyst	analyst	NOUN
taxlaw-9799	123	6	,	,	PUNCT
taxlaw-9799	123	7	or	or	CCONJ
taxlaw-9799	123	8	bank	bank	NOUN
taxlaw-9799	123	9	loan	loan	NOUN
taxlaw-9799	123	10	officer	officer	NOUN
taxlaw-9799	123	11	,	,	PUNCT
taxlaw-9799	123	12	can	can	AUX
taxlaw-9799	123	13	focus	focus	VERB
taxlaw-9799	123	14	on	on	ADP
taxlaw-9799	123	15	auto	auto	NOUN
taxlaw-9799	123	16	parts	part	NOUN
taxlaw-9799	123	17	suppliers	supplier	NOUN
taxlaw-9799	123	18	,	,	PUNCT
taxlaw-9799	123	19	another	another	PRON
taxlaw-9799	123	20	on	on	ADP
taxlaw-9799	123	21	specialty	specialty	NOUN
taxlaw-9799	123	22	chemicals	chemical	NOUN
taxlaw-9799	123	23	,	,	PUNCT
taxlaw-9799	123	24	another	another	PRON
taxlaw-9799	123	25	on	on	ADP
taxlaw-9799	123	26	computers	computer	NOUN
taxlaw-9799	123	27	.	.	PUNCT
taxlaw-9799	124	1	in	in	ADP
taxlaw-9799	124	2	contrast	contrast	NOUN
taxlaw-9799	124	3	,	,	PUNCT
taxlaw-9799	124	4	the	the	DET
taxlaw-9799	124	5	conglomerate	conglomerate	NOUN
taxlaw-9799	124	6	manager	manager	NOUN
taxlaw-9799	124	7	probably	probably	ADV
taxlaw-9799	124	8	oversees	oversee	VERB
taxlaw-9799	124	9	only	only	ADV
taxlaw-9799	124	10	one	one	NUM
taxlaw-9799	124	11	firm	firm	NOUN
taxlaw-9799	124	12	in	in	ADP
taxlaw-9799	124	13	any	any	DET
taxlaw-9799	124	14	one	one	NUM
taxlaw-9799	124	15	industry	industry	NOUN
taxlaw-9799	124	16	,	,	PUNCT
taxlaw-9799	124	17	and	and	CCONJ
taxlaw-9799	124	18	must	must	AUX
taxlaw-9799	124	19	divide	divide	VERB
taxlaw-9799	124	20	his	his	PRON
taxlaw-9799	124	21	attention	attention	NOUN
taxlaw-9799	124	22	among	among	ADP
taxlaw-9799	124	23	a	a	DET
taxlaw-9799	124	24	number	number	NOUN
taxlaw-9799	124	25	of	of	ADP
taxlaw-9799	124	26	disparate	disparate	ADJ
taxlaw-9799	124	27	businesses	business	NOUN
taxlaw-9799	124	28	.	.	PUNCT
taxlaw-9799	125	1	once	once	ADV
taxlaw-9799	125	2	again	again	ADV
taxlaw-9799	125	3	,	,	PUNCT
taxlaw-9799	125	4	the	the	DET
taxlaw-9799	125	5	conglomerate	conglomerate	NOUN
taxlaw-9799	125	6	manager	manager	NOUN
taxlaw-9799	125	7	lacks	lack	VERB
taxlaw-9799	125	8	information	information	NOUN
taxlaw-9799	125	9	available	available	ADJ
taxlaw-9799	125	10	to	to	ADP
taxlaw-9799	125	11	the	the	DET
taxlaw-9799	125	12	outside	outside	ADJ
taxlaw-9799	125	13	investor	investor	NOUN
taxlaw-9799	125	14	;	;	PUNCT
taxlaw-9799	125	15	in	in	ADP
taxlaw-9799	125	16	this	this	DET
taxlaw-9799	125	17	case	case	NOUN
taxlaw-9799	125	18	,	,	PUNCT
taxlaw-9799	125	19	the	the	DET
taxlaw-9799	125	20	background	background	NOUN
taxlaw-9799	125	21	knowledge	knowledge	NOUN
taxlaw-9799	125	22	that	that	PRON
taxlaw-9799	125	23	comes	come	VERB
taxlaw-9799	125	24	from	from	ADP
taxlaw-9799	125	25	specialization	specialization	NOUN
taxlaw-9799	125	26	.	.	PUNCT
taxlaw-9799	125	27	”	"	PUNCT
taxlaw-9799	125	28	)	)	PUNCT
taxlaw-9799	125	29	.	.	PUNCT
taxlaw-9799	126	1	28	28	NUM
taxlaw-9799	126	2	unless	unless	SCONJ
taxlaw-9799	126	3	i	i	PRON
taxlaw-9799	126	4	specify	specify	VERB
taxlaw-9799	126	5	otherwise	otherwise	ADV
taxlaw-9799	126	6	,	,	PUNCT
taxlaw-9799	126	7	references	reference	NOUN
taxlaw-9799	126	8	to	to	ADP
taxlaw-9799	126	9	sections	section	NOUN
taxlaw-9799	126	10	of	of	ADP
taxlaw-9799	126	11	statutory	statutory	ADJ
taxlaw-9799	126	12	provisions	provision	NOUN
taxlaw-9799	126	13	refer	refer	VERB
taxlaw-9799	126	14	to	to	ADP
taxlaw-9799	126	15	the	the	DET
taxlaw-9799	126	16	i.r.c	i.r.c	NOUN
taxlaw-9799	126	17	.	.	PUNCT
taxlaw-9799	127	1	2022	2022	NUM
taxlaw-9799	127	2	]	]	PUNCT
taxlaw-9799	127	3	conglomerate	conglomerate	NOUN
taxlaw-9799	127	4	spin	spin	NOUN
taxlaw-9799	127	5	-	-	PUNCT
taxlaw-9799	127	6	offs	off	NOUN
taxlaw-9799	127	7	172	172	NUM
taxlaw-9799	127	8	provides	provide	VERB
taxlaw-9799	127	9	in	in	ADP
taxlaw-9799	127	10	allowing	allow	VERB
taxlaw-9799	127	11	corporations	corporation	NOUN
taxlaw-9799	127	12	to	to	PART
taxlaw-9799	127	13	split	split	VERB
taxlaw-9799	127	14	up	up	ADP
taxlaw-9799	127	15	under	under	ADP
taxlaw-9799	127	16	section	section	NOUN
taxlaw-9799	127	17	355	355	NUM
taxlaw-9799	127	18	,	,	PUNCT
taxlaw-9799	127	19	and	and	CCONJ
taxlaw-9799	127	20	this	this	DET
taxlaw-9799	127	21	corporatelevel	corporatelevel	ADJ
taxlaw-9799	127	22	non	non	NOUN
taxlaw-9799	127	23	-	-	NOUN
taxlaw-9799	127	24	taxation	taxation	NOUN
taxlaw-9799	127	25	is	be	AUX
taxlaw-9799	127	26	the	the	DET
taxlaw-9799	127	27	primary	primary	ADJ
taxlaw-9799	127	28	motivation	motivation	NOUN
taxlaw-9799	127	29	for	for	ADP
taxlaw-9799	127	30	tax	tax	NOUN
taxlaw-9799	127	31	-	-	PUNCT
taxlaw-9799	127	32	free	free	ADJ
taxlaw-9799	127	33	spin	spin	NOUN
taxlaw-9799	127	34	-	-	PUNCT
taxlaw-9799	127	35	offs	off	NOUN
taxlaw-9799	127	36	.	.	PUNCT
taxlaw-9799	128	1	parent	parent	NOUN
taxlaw-9799	128	2	’s	’s	PART
taxlaw-9799	128	3	shareholders	shareholder	NOUN
taxlaw-9799	128	4	receive	receive	VERB
taxlaw-9799	128	5	only	only	ADV
taxlaw-9799	128	6	the	the	DET
taxlaw-9799	128	7	benefit	benefit	NOUN
taxlaw-9799	128	8	of	of	ADP
taxlaw-9799	128	9	deferral	deferral	NOUN
taxlaw-9799	128	10	of	of	ADP
taxlaw-9799	128	11	gain	gain	NOUN
taxlaw-9799	128	12	recognition	recognition	NOUN
taxlaw-9799	128	13	.	.	PUNCT
taxlaw-9799	129	1	section	section	NOUN
taxlaw-9799	129	2	355	355	NUM
taxlaw-9799	129	3	is	be	AUX
taxlaw-9799	129	4	intended	intend	VERB
taxlaw-9799	129	5	to	to	PART
taxlaw-9799	129	6	provide	provide	VERB
taxlaw-9799	129	7	tax	tax	NOUN
taxlaw-9799	129	8	-	-	PUNCT
taxlaw-9799	129	9	free	free	ADJ
taxlaw-9799	129	10	treatment	treatment	NOUN
taxlaw-9799	129	11	to	to	ADP
taxlaw-9799	129	12	transactions	transaction	NOUN
taxlaw-9799	129	13	in	in	ADP
taxlaw-9799	129	14	which	which	PRON
taxlaw-9799	129	15	each	each	DET
taxlaw-9799	129	16	company	company	NOUN
taxlaw-9799	129	17	continues	continue	VERB
taxlaw-9799	129	18	with	with	ADP
taxlaw-9799	129	19	a	a	DET
taxlaw-9799	129	20	robust	robust	ADJ
taxlaw-9799	129	21	business	business	NOUN
taxlaw-9799	129	22	following	follow	VERB
taxlaw-9799	129	23	the	the	DET
taxlaw-9799	129	24	separation.29	separation.29	NOUN
taxlaw-9799	129	25	through	through	ADP
taxlaw-9799	129	26	tax	tax	NOUN
taxlaw-9799	129	27	-	-	PUNCT
taxlaw-9799	129	28	free	free	ADJ
taxlaw-9799	129	29	spin	spin	NOUN
taxlaw-9799	129	30	-	-	PUNCT
taxlaw-9799	129	31	offs	off	NOUN
taxlaw-9799	129	32	,	,	PUNCT
taxlaw-9799	129	33	congress	congress	PROPN
taxlaw-9799	129	34	wished	wish	VERB
taxlaw-9799	129	35	to	to	PART
taxlaw-9799	129	36	provide	provide	VERB
taxlaw-9799	129	37	a	a	DET
taxlaw-9799	129	38	means	means	NOUN
taxlaw-9799	129	39	of	of	ADP
taxlaw-9799	129	40	enabling	enable	VERB
taxlaw-9799	129	41	corporations	corporation	NOUN
taxlaw-9799	129	42	to	to	PART
taxlaw-9799	129	43	divide	divide	VERB
taxlaw-9799	129	44	ongoing	ongoing	ADJ
taxlaw-9799	129	45	operating	operating	NOUN
taxlaw-9799	129	46	business	business	NOUN
taxlaw-9799	129	47	units	unit	NOUN
taxlaw-9799	129	48	in	in	ADP
taxlaw-9799	129	49	such	such	DET
taxlaw-9799	129	50	a	a	DET
taxlaw-9799	129	51	way	way	NOUN
taxlaw-9799	129	52	that	that	PRON
taxlaw-9799	129	53	the	the	DET
taxlaw-9799	129	54	different	different	ADJ
taxlaw-9799	129	55	continuing	continue	VERB
taxlaw-9799	129	56	businesses	business	NOUN
taxlaw-9799	129	57	could	could	AUX
taxlaw-9799	129	58	persist	persist	VERB
taxlaw-9799	129	59	,	,	PUNCT
taxlaw-9799	129	60	albeit	albeit	SCONJ
taxlaw-9799	129	61	in	in	ADP
taxlaw-9799	129	62	a	a	DET
taxlaw-9799	129	63	modified	modify	VERB
taxlaw-9799	129	64	corporate	corporate	ADJ
taxlaw-9799	129	65	structure.30	structure.30	NOUN
taxlaw-9799	129	66	section	section	NOUN
taxlaw-9799	129	67	355	355	NUM
taxlaw-9799	129	68	promotes	promote	VERB
taxlaw-9799	129	69	economic	economic	ADJ
taxlaw-9799	129	70	efficiency	efficiency	NOUN
taxlaw-9799	129	71	and	and	CCONJ
taxlaw-9799	129	72	the	the	DET
taxlaw-9799	129	73	well	well	ADV
taxlaw-9799	129	74	-	-	PUNCT
taxlaw-9799	129	75	being	being	NOUN
taxlaw-9799	129	76	of	of	ADP
taxlaw-9799	129	77	capital	capital	NOUN
taxlaw-9799	129	78	markets	market	NOUN
taxlaw-9799	129	79	by	by	ADP
taxlaw-9799	129	80	allowing	allow	VERB
taxlaw-9799	129	81	large	large	ADJ
taxlaw-9799	129	82	,	,	PUNCT
taxlaw-9799	129	83	unwieldy	unwieldy	ADJ
taxlaw-9799	129	84	conglomerates	conglomerate	NOUN
taxlaw-9799	129	85	to	to	PART
taxlaw-9799	129	86	break	break	VERB
taxlaw-9799	129	87	themselves	themselves	PRON
taxlaw-9799	129	88	up	up	ADP
taxlaw-9799	129	89	into	into	ADP
taxlaw-9799	129	90	smaller	small	ADJ
taxlaw-9799	129	91	business	business	NOUN
taxlaw-9799	129	92	units	unit	NOUN
taxlaw-9799	129	93	for	for	ADP
taxlaw-9799	129	94	bona	bona	ADJ
taxlaw-9799	129	95	fide	fide	ADJ
taxlaw-9799	129	96	corporate	corporate	ADJ
taxlaw-9799	129	97	purposes.31	purposes.31	NOUN
taxlaw-9799	129	98	because	because	SCONJ
taxlaw-9799	129	99	congress	congress	PROPN
taxlaw-9799	129	100	believes	believe	VERB
taxlaw-9799	129	101	that	that	SCONJ
taxlaw-9799	129	102	a	a	DET
taxlaw-9799	129	103	mere	mere	ADJ
taxlaw-9799	129	104	readjustment	readjustment	NOUN
taxlaw-9799	129	105	of	of	ADP
taxlaw-9799	129	106	business	business	NOUN
taxlaw-9799	129	107	interests	interest	NOUN
taxlaw-9799	129	108	within	within	ADP
taxlaw-9799	129	109	a	a	DET
taxlaw-9799	129	110	corporation	corporation	NOUN
taxlaw-9799	129	111	should	should	AUX
taxlaw-9799	129	112	not	not	PART
taxlaw-9799	129	113	be	be	AUX
taxlaw-9799	129	114	impeded	impede	VERB
taxlaw-9799	129	115	by	by	ADP
taxlaw-9799	129	116	gain	gain	NOUN
taxlaw-9799	129	117	recognition	recognition	NOUN
taxlaw-9799	129	118	at	at	ADP
taxlaw-9799	129	119	either	either	CCONJ
taxlaw-9799	129	120	the	the	DET
taxlaw-9799	129	121	corporate	corporate	ADJ
taxlaw-9799	129	122	or	or	CCONJ
taxlaw-9799	129	123	the	the	DET
taxlaw-9799	129	124	shareholder	shareholder	NOUN
taxlaw-9799	129	125	level	level	NOUN
taxlaw-9799	129	126	,	,	PUNCT
taxlaw-9799	129	127	section	section	NOUN
taxlaw-9799	129	128	355	355	NUM
taxlaw-9799	129	129	allows	allow	VERB
taxlaw-9799	129	130	each	each	DET
taxlaw-9799	129	131	company	company	NOUN
taxlaw-9799	129	132	to	to	PART
taxlaw-9799	129	133	avoid	avoid	VERB
taxlaw-9799	129	134	such	such	ADJ
taxlaw-9799	129	135	gain	gain	NOUN
taxlaw-9799	129	136	recognition	recognition	NOUN
taxlaw-9799	129	137	and	and	CCONJ
taxlaw-9799	129	138	to	to	PART
taxlaw-9799	129	139	operate	operate	VERB
taxlaw-9799	129	140	distinct	distinct	ADJ
taxlaw-9799	129	141	business	business	NOUN
taxlaw-9799	129	142	units	unit	NOUN
taxlaw-9799	129	143	following	follow	VERB
taxlaw-9799	129	144	the	the	DET
taxlaw-9799	129	145	separation	separation	NOUN
taxlaw-9799	129	146	but	but	CCONJ
taxlaw-9799	129	147	with	with	ADP
taxlaw-9799	129	148	a	a	DET
taxlaw-9799	129	149	certain	certain	ADJ
taxlaw-9799	129	150	degree	degree	NOUN
taxlaw-9799	129	151	of	of	ADP
taxlaw-9799	129	152	shareholder	shareholder	NOUN
taxlaw-9799	129	153	continuity.32	continuity.32	ADJ
taxlaw-9799	129	154	the	the	DET
taxlaw-9799	129	155	transaction	transaction	NOUN
taxlaw-9799	129	156	at	at	ADP
taxlaw-9799	129	157	issue	issue	NOUN
taxlaw-9799	129	158	in	in	ADP
taxlaw-9799	129	159	gregory	gregory	PROPN
taxlaw-9799	129	160	v.	v.	ADP
taxlaw-9799	130	1	helvering	helvere	VERB
taxlaw-9799	130	2	embodied	embody	VERB
taxlaw-9799	130	3	a	a	DET
taxlaw-9799	130	4	perceived	perceive	VERB
taxlaw-9799	130	5	abuse	abuse	NOUN
taxlaw-9799	130	6	of	of	ADP
taxlaw-9799	130	7	the	the	DET
taxlaw-9799	130	8	tax	tax	NOUN
taxlaw-9799	130	9	-	-	PUNCT
taxlaw-9799	130	10	free	free	ADJ
taxlaw-9799	130	11	spin	spin	NOUN
taxlaw-9799	130	12	-	-	PUNCT
taxlaw-9799	130	13	off	off	ADP
taxlaw-9799	130	14	rules	rule	NOUN
taxlaw-9799	130	15	in	in	ADP
taxlaw-9799	130	16	which	which	PRON
taxlaw-9799	130	17	the	the	DET
taxlaw-9799	130	18	taxpayer	taxpayer	NOUN
taxlaw-9799	130	19	separated	separate	VERB
taxlaw-9799	130	20	and	and	CCONJ
taxlaw-9799	130	21	distributed	distribute	VERB
taxlaw-9799	130	22	principally	principally	ADV
taxlaw-9799	130	23	passive	passive	ADJ
taxlaw-9799	130	24	non	non	ADJ
taxlaw-9799	130	25	-	-	ADJ
taxlaw-9799	130	26	business	business	ADJ
taxlaw-9799	130	27	assets.33	assets.33	NOUN
taxlaw-9799	130	28	here	here	ADV
taxlaw-9799	130	29	,	,	PUNCT
taxlaw-9799	130	30	the	the	DET
taxlaw-9799	130	31	taxpayer	taxpayer	NOUN
taxlaw-9799	130	32	attempted	attempt	VERB
taxlaw-9799	130	33	to	to	PART
taxlaw-9799	130	34	use	use	VERB
taxlaw-9799	130	35	the	the	DET
taxlaw-9799	130	36	spin	spin	VERB
taxlaw-9799	130	37	-	-	PUNCT
taxlaw-9799	130	38	off	off	ADP
taxlaw-9799	130	39	rules	rule	NOUN
taxlaw-9799	130	40	to	to	PART
taxlaw-9799	130	41	avoid	avoid	VERB
taxlaw-9799	130	42	paying	pay	VERB
taxlaw-9799	130	43	corporate	corporate	ADJ
taxlaw-9799	130	44	-	-	PUNCT
taxlaw-9799	130	45	level	level	NOUN
taxlaw-9799	130	46	taxes	taxis	NOUN
taxlaw-9799	130	47	on	on	ADP
taxlaw-9799	130	48	appreciated	appreciated	ADJ
taxlaw-9799	130	49	shares.34	shares.34	NOUN
taxlaw-9799	130	50	the	the	DET
taxlaw-9799	130	51	case	case	NOUN
taxlaw-9799	130	52	reached	reach	VERB
taxlaw-9799	130	53	the	the	DET
taxlaw-9799	130	54	supreme	supreme	PROPN
taxlaw-9799	130	55	court	court	PROPN
taxlaw-9799	130	56	,	,	PUNCT
taxlaw-9799	130	57	which	which	PRON
taxlaw-9799	130	58	found	find	VERB
taxlaw-9799	130	59	that	that	SCONJ
taxlaw-9799	130	60	the	the	DET
taxlaw-9799	130	61	dividend	dividend	NOUN
taxlaw-9799	130	62	distribution	distribution	NOUN
taxlaw-9799	130	63	was	be	AUX
taxlaw-9799	130	64	sham	sham	NOUN
taxlaw-9799	130	65	-	-	PUNCT
taxlaw-9799	130	66	like	like	ADJ
taxlaw-9799	130	67	,	,	PUNCT
taxlaw-9799	130	68	lacked	lack	VERB
taxlaw-9799	130	69	any	any	DET
taxlaw-9799	130	70	real	real	ADJ
taxlaw-9799	130	71	business	business	NOUN
taxlaw-9799	130	72	purpose	purpose	NOUN
taxlaw-9799	130	73	,	,	PUNCT
taxlaw-9799	130	74	and	and	CCONJ
taxlaw-9799	130	75	constituted	constitute	VERB
taxlaw-9799	130	76	a	a	DET
taxlaw-9799	130	77	tax	tax	NOUN
taxlaw-9799	130	78	-	-	PUNCT
taxlaw-9799	130	79	avoidance	avoidance	NOUN
taxlaw-9799	130	80	device.35	device.35	NOUN
taxlaw-9799	130	81	gregory	gregory	PROPN
taxlaw-9799	130	82	v.	v.	ADP
taxlaw-9799	130	83	helvering	helvere	VERB
taxlaw-9799	130	84	is	be	AUX
taxlaw-9799	130	85	a	a	DET
taxlaw-9799	130	86	paradigmatic	paradigmatic	ADJ
taxlaw-9799	130	87	example	example	NOUN
taxlaw-9799	130	88	of	of	ADP
taxlaw-9799	130	89	a	a	DET
taxlaw-9799	130	90	taxpayer	taxpayer	NOUN
taxlaw-9799	130	91	’s	’s	NOUN
taxlaw-9799	130	92	near	near	ADP
taxlaw-9799	130	93	perfect	perfect	ADJ
taxlaw-9799	130	94	adherence	adherence	NOUN
taxlaw-9799	130	95	to	to	ADP
taxlaw-9799	130	96	formal	formal	ADJ
taxlaw-9799	130	97	statutory	statutory	ADJ
taxlaw-9799	130	98	requirements	requirement	NOUN
taxlaw-9799	130	99	—	—	PUNCT
taxlaw-9799	130	100	the	the	DET
taxlaw-9799	130	101	letter	letter	NOUN
taxlaw-9799	130	102	of	of	ADP
taxlaw-9799	130	103	the	the	DET
taxlaw-9799	130	104	law	law	NOUN
taxlaw-9799	130	105	—	—	PUNCT
taxlaw-9799	130	106	that	that	SCONJ
taxlaw-9799	130	107	29	29	NUM
taxlaw-9799	130	108	see	see	VERB
taxlaw-9799	130	109	report	report	NOUN
taxlaw-9799	130	110	no	no	PRON
taxlaw-9799	130	111	.	.	NOUN
taxlaw-9799	130	112	1342	1342	NUM
taxlaw-9799	130	113	,	,	PUNCT
taxlaw-9799	130	114	supra	supra	NOUN
taxlaw-9799	130	115	note	note	NOUN
taxlaw-9799	130	116	3	3	NUM
taxlaw-9799	130	117	.	.	SYM
taxlaw-9799	130	118	30	30	NUM
taxlaw-9799	130	119	see	see	VERB
taxlaw-9799	130	120	i	i	PRON
taxlaw-9799	130	121	d.	d.	PROPN
taxlaw-9799	130	122	31	31	NUM
taxlaw-9799	130	123	see	see	VERB
taxlaw-9799	130	124	i	i	PRON
taxlaw-9799	130	125	d.	d.	PROPN
taxlaw-9799	130	126	32	32	NUM
taxlaw-9799	130	127	see	see	VERB
taxlaw-9799	131	1	i	i	PROPN
taxlaw-9799	131	2	d.	d.	PROPN
taxlaw-9799	131	3	33	33	NUM
taxlaw-9799	131	4	gregory	gregory	PROPN
taxlaw-9799	131	5	v.	v.	ADP
taxlaw-9799	131	6	helvering	helvering	PROPN
taxlaw-9799	131	7	,	,	PUNCT
taxlaw-9799	131	8	293	293	NUM
taxlaw-9799	131	9	u.s	u.s	PROPN
taxlaw-9799	131	10	.	.	PROPN
taxlaw-9799	131	11	465	465	NUM
taxlaw-9799	131	12	(	(	PUNCT
taxlaw-9799	131	13	1935	1935	NUM
taxlaw-9799	131	14	)	)	PUNCT
taxlaw-9799	131	15	.	.	PUNCT
taxlaw-9799	132	1	34	34	NUM
taxlaw-9799	132	2	evelyn	evelyn	PROPN
taxlaw-9799	132	3	gregory	gregory	PROPN
taxlaw-9799	132	4	was	be	AUX
taxlaw-9799	132	5	the	the	DET
taxlaw-9799	132	6	sole	sole	ADJ
taxlaw-9799	132	7	shareholder	shareholder	NOUN
taxlaw-9799	132	8	of	of	ADP
taxlaw-9799	132	9	united	united	PROPN
taxlaw-9799	132	10	mortgage	mortgage	PROPN
taxlaw-9799	132	11	corporation	corporation	NOUN
taxlaw-9799	132	12	(	(	PUNCT
taxlaw-9799	132	13	“	"	PUNCT
taxlaw-9799	132	14	umc	umc	PROPN
taxlaw-9799	132	15	”	"	PUNCT
taxlaw-9799	132	16	)	)	PUNCT
taxlaw-9799	132	17	and	and	CCONJ
taxlaw-9799	132	18	was	be	AUX
taxlaw-9799	132	19	entitled	entitle	VERB
taxlaw-9799	132	20	to	to	PART
taxlaw-9799	132	21	receive	receive	VERB
taxlaw-9799	132	22	dividends	dividend	NOUN
taxlaw-9799	132	23	from	from	ADP
taxlaw-9799	132	24	umc	umc	PROPN
taxlaw-9799	132	25	.	.	PUNCT
taxlaw-9799	133	1	umc	umc	PROPN
taxlaw-9799	133	2	,	,	PUNCT
taxlaw-9799	133	3	in	in	ADP
taxlaw-9799	133	4	turn	turn	NOUN
taxlaw-9799	133	5	,	,	PUNCT
taxlaw-9799	133	6	owned	own	VERB
taxlaw-9799	133	7	1,000	1,000	NUM
taxlaw-9799	133	8	outstanding	outstanding	ADJ
taxlaw-9799	133	9	shares	share	NOUN
taxlaw-9799	133	10	of	of	ADP
taxlaw-9799	133	11	monitor	monitor	NOUN
taxlaw-9799	133	12	securities	security	NOUN
taxlaw-9799	133	13	corporation	corporation	NOUN
taxlaw-9799	133	14	(	(	PUNCT
taxlaw-9799	133	15	“	"	PUNCT
taxlaw-9799	133	16	msc	msc	PROPN
taxlaw-9799	133	17	”	"	PUNCT
taxlaw-9799	133	18	)	)	PUNCT
taxlaw-9799	133	19	.	.	PUNCT
taxlaw-9799	134	1	gregory	gregory	PROPN
taxlaw-9799	134	2	wished	wish	VERB
taxlaw-9799	134	3	to	to	PART
taxlaw-9799	134	4	dispose	dispose	VERB
taxlaw-9799	134	5	of	of	ADP
taxlaw-9799	134	6	her	her	PRON
taxlaw-9799	134	7	interest	interest	NOUN
taxlaw-9799	134	8	in	in	ADP
taxlaw-9799	134	9	msc	msc	PROPN
taxlaw-9799	134	10	,	,	PUNCT
taxlaw-9799	134	11	but	but	CCONJ
taxlaw-9799	134	12	if	if	SCONJ
taxlaw-9799	134	13	umc	umc	PROPN
taxlaw-9799	134	14	sold	sell	VERB
taxlaw-9799	134	15	the	the	DET
taxlaw-9799	134	16	msc	msc	PROPN
taxlaw-9799	134	17	shares	share	NOUN
taxlaw-9799	134	18	and	and	CCONJ
taxlaw-9799	134	19	distributed	distribute	VERB
taxlaw-9799	134	20	the	the	DET
taxlaw-9799	134	21	proceeds	proceed	NOUN
taxlaw-9799	134	22	to	to	ADP
taxlaw-9799	134	23	gregory	gregory	PROPN
taxlaw-9799	134	24	as	as	ADP
taxlaw-9799	134	25	a	a	DET
taxlaw-9799	134	26	dividend	dividend	NOUN
taxlaw-9799	134	27	,	,	PUNCT
taxlaw-9799	134	28	both	both	DET
taxlaw-9799	134	29	umc	umc	PROPN
taxlaw-9799	134	30	and	and	CCONJ
taxlaw-9799	134	31	gregory	gregory	PROPN
taxlaw-9799	134	32	would	would	AUX
taxlaw-9799	134	33	be	be	AUX
taxlaw-9799	134	34	taxed	tax	VERB
taxlaw-9799	134	35	at	at	ADP
taxlaw-9799	134	36	the	the	DET
taxlaw-9799	134	37	high	high	ADJ
taxlaw-9799	134	38	rates	rate	NOUN
taxlaw-9799	134	39	applicable	applicable	ADJ
taxlaw-9799	134	40	to	to	PART
taxlaw-9799	134	41	dividend	dividend	VERB
taxlaw-9799	134	42	income	income	NOUN
taxlaw-9799	134	43	at	at	ADP
taxlaw-9799	134	44	that	that	DET
taxlaw-9799	134	45	time	time	NOUN
taxlaw-9799	134	46	.	.	PUNCT
taxlaw-9799	135	1	thus	thus	ADV
taxlaw-9799	135	2	,	,	PUNCT
taxlaw-9799	135	3	gregory	gregory	PROPN
taxlaw-9799	135	4	performed	perform	VERB
taxlaw-9799	135	5	a	a	DET
taxlaw-9799	135	6	corporate	corporate	ADJ
taxlaw-9799	135	7	reorganization	reorganization	NOUN
taxlaw-9799	135	8	to	to	PART
taxlaw-9799	135	9	avoid	avoid	VERB
taxlaw-9799	135	10	such	such	ADJ
taxlaw-9799	135	11	tax	tax	NOUN
taxlaw-9799	135	12	treatment	treatment	NOUN
taxlaw-9799	135	13	.	.	PUNCT
taxlaw-9799	136	1	in	in	ADP
taxlaw-9799	136	2	the	the	DET
taxlaw-9799	136	3	reorganization	reorganization	NOUN
taxlaw-9799	136	4	,	,	PUNCT
taxlaw-9799	136	5	gregory	gregory	PROPN
taxlaw-9799	136	6	had	have	VERB
taxlaw-9799	136	7	umc	umc	PROPN
taxlaw-9799	136	8	transfer	transfer	VERB
taxlaw-9799	136	9	the	the	DET
taxlaw-9799	136	10	msc	msc	PROPN
taxlaw-9799	136	11	shares	share	NOUN
taxlaw-9799	136	12	to	to	ADP
taxlaw-9799	136	13	a	a	DET
taxlaw-9799	136	14	newly	newly	ADV
taxlaw-9799	136	15	formed	form	VERB
taxlaw-9799	136	16	spinco	spinco	NOUN
taxlaw-9799	136	17	.	.	PUNCT
taxlaw-9799	137	1	the	the	DET
taxlaw-9799	137	2	spinco	spinco	NOUN
taxlaw-9799	137	3	then	then	ADV
taxlaw-9799	137	4	issued	issue	VERB
taxlaw-9799	137	5	its	its	PRON
taxlaw-9799	137	6	shares	share	NOUN
taxlaw-9799	137	7	to	to	ADP
taxlaw-9799	137	8	gregory	gregory	PROPN
taxlaw-9799	137	9	.	.	PUNCT
taxlaw-9799	138	1	after	after	ADP
taxlaw-9799	138	2	four	four	NUM
taxlaw-9799	138	3	days	day	NOUN
taxlaw-9799	138	4	,	,	PUNCT
taxlaw-9799	138	5	gregory	gregory	PROPN
taxlaw-9799	138	6	had	have	VERB
taxlaw-9799	138	7	the	the	DET
taxlaw-9799	138	8	spinco	spinco	NOUN
taxlaw-9799	138	9	liquidate	liquidate	NOUN
taxlaw-9799	138	10	and	and	CCONJ
taxlaw-9799	138	11	distribute	distribute	VERB
taxlaw-9799	138	12	the	the	DET
taxlaw-9799	138	13	msc	msc	PROPN
taxlaw-9799	138	14	stock	stock	NOUN
taxlaw-9799	138	15	to	to	ADP
taxlaw-9799	138	16	herself	herself	PRON
taxlaw-9799	138	17	.	.	PUNCT
taxlaw-9799	139	1	gregory	gregory	PROPN
taxlaw-9799	139	2	then	then	ADV
taxlaw-9799	139	3	sold	sell	VERB
taxlaw-9799	139	4	the	the	DET
taxlaw-9799	139	5	msc	msc	PROPN
taxlaw-9799	139	6	stock	stock	PROPN
taxlaw-9799	139	7	to	to	ADP
taxlaw-9799	139	8	a	a	DET
taxlaw-9799	139	9	third	third	ADJ
taxlaw-9799	139	10	party	party	NOUN
taxlaw-9799	139	11	for	for	ADP
taxlaw-9799	139	12	cash	cash	NOUN
taxlaw-9799	139	13	.	.	PUNCT
taxlaw-9799	140	1	gregory	gregory	PROPN
taxlaw-9799	140	2	argued	argue	VERB
taxlaw-9799	140	3	that	that	SCONJ
taxlaw-9799	140	4	the	the	DET
taxlaw-9799	140	5	receipt	receipt	NOUN
taxlaw-9799	140	6	of	of	ADP
taxlaw-9799	140	7	the	the	DET
taxlaw-9799	140	8	spinco	spinco	NOUN
taxlaw-9799	140	9	stock	stock	NOUN
taxlaw-9799	140	10	was	be	AUX
taxlaw-9799	140	11	not	not	PART
taxlaw-9799	140	12	a	a	DET
taxlaw-9799	140	13	recognition	recognition	NOUN
taxlaw-9799	140	14	event	event	NOUN
taxlaw-9799	140	15	because	because	SCONJ
taxlaw-9799	140	16	the	the	DET
taxlaw-9799	140	17	shares	share	NOUN
taxlaw-9799	140	18	were	be	AUX
taxlaw-9799	140	19	received	receive	VERB
taxlaw-9799	140	20	as	as	ADP
taxlaw-9799	140	21	part	part	NOUN
taxlaw-9799	140	22	of	of	ADP
taxlaw-9799	140	23	a	a	DET
taxlaw-9799	140	24	reorganization	reorganization	NOUN
taxlaw-9799	140	25	.	.	PUNCT
taxlaw-9799	141	1	gregory	gregory	PROPN
taxlaw-9799	141	2	recognized	recognize	VERB
taxlaw-9799	141	3	the	the	DET
taxlaw-9799	141	4	capital	capital	NOUN
taxlaw-9799	141	5	gain	gain	NOUN
taxlaw-9799	141	6	on	on	ADP
taxlaw-9799	141	7	the	the	DET
taxlaw-9799	141	8	receipt	receipt	NOUN
taxlaw-9799	141	9	of	of	ADP
taxlaw-9799	141	10	the	the	DET
taxlaw-9799	141	11	msc	msc	PROPN
taxlaw-9799	141	12	stock	stock	PROPN
taxlaw-9799	141	13	and	and	CCONJ
taxlaw-9799	141	14	took	take	VERB
taxlaw-9799	141	15	a	a	DET
taxlaw-9799	141	16	stepped	step	VERB
taxlaw-9799	141	17	-	-	PUNCT
taxlaw-9799	141	18	up	up	ADP
taxlaw-9799	141	19	fair	fair	ADJ
taxlaw-9799	141	20	market	market	NOUN
taxlaw-9799	141	21	value	value	NOUN
taxlaw-9799	141	22	basis	basis	NOUN
taxlaw-9799	141	23	in	in	ADP
taxlaw-9799	141	24	the	the	DET
taxlaw-9799	141	25	msc	msc	PROPN
taxlaw-9799	141	26	stock	stock	NOUN
taxlaw-9799	141	27	after	after	ADP
taxlaw-9799	141	28	the	the	DET
taxlaw-9799	141	29	liquidation	liquidation	NOUN
taxlaw-9799	141	30	.	.	PUNCT
taxlaw-9799	142	1	thus	thus	ADV
taxlaw-9799	142	2	,	,	PUNCT
taxlaw-9799	142	3	she	she	PRON
taxlaw-9799	142	4	recognized	recognize	VERB
taxlaw-9799	142	5	no	no	DET
taxlaw-9799	142	6	gain	gain	NOUN
taxlaw-9799	142	7	or	or	CCONJ
taxlaw-9799	142	8	loss	loss	NOUN
taxlaw-9799	142	9	on	on	ADP
taxlaw-9799	142	10	the	the	DET
taxlaw-9799	142	11	subsequent	subsequent	ADJ
taxlaw-9799	142	12	sale	sale	NOUN
taxlaw-9799	142	13	of	of	ADP
taxlaw-9799	142	14	the	the	DET
taxlaw-9799	142	15	msc	msc	PROPN
taxlaw-9799	142	16	stock	stock	NOUN
taxlaw-9799	142	17	.	.	PUNCT
taxlaw-9799	143	1	the	the	DET
taxlaw-9799	143	2	commissioner	commissioner	NOUN
taxlaw-9799	143	3	argued	argue	VERB
taxlaw-9799	143	4	that	that	SCONJ
taxlaw-9799	143	5	the	the	DET
taxlaw-9799	143	6	spinco	spinco	NOUN
taxlaw-9799	143	7	should	should	AUX
taxlaw-9799	143	8	be	be	AUX
taxlaw-9799	143	9	ignored	ignore	VERB
taxlaw-9799	143	10	because	because	SCONJ
taxlaw-9799	143	11	of	of	ADP
taxlaw-9799	143	12	its	its	PRON
taxlaw-9799	143	13	sham	sham	NOUN
taxlaw-9799	143	14	-	-	PUNCT
taxlaw-9799	143	15	like	like	ADJ
taxlaw-9799	143	16	,	,	PUNCT
taxlaw-9799	143	17	transitory	transitory	ADJ
taxlaw-9799	143	18	nature	nature	NOUN
taxlaw-9799	143	19	and	and	CCONJ
taxlaw-9799	143	20	lack	lack	NOUN
taxlaw-9799	143	21	of	of	ADP
taxlaw-9799	143	22	any	any	DET
taxlaw-9799	143	23	substantive	substantive	ADJ
taxlaw-9799	143	24	business	business	NOUN
taxlaw-9799	143	25	purpose	purpose	NOUN
taxlaw-9799	143	26	.	.	PUNCT
taxlaw-9799	144	1	the	the	DET
taxlaw-9799	144	2	government	government	NOUN
taxlaw-9799	144	3	viewed	view	VERB
taxlaw-9799	144	4	the	the	DET
taxlaw-9799	144	5	transaction	transaction	NOUN
taxlaw-9799	144	6	as	as	SCONJ
taxlaw-9799	144	7	if	if	SCONJ
taxlaw-9799	144	8	umc	umc	PROPN
taxlaw-9799	144	9	had	have	AUX
taxlaw-9799	144	10	sold	sell	VERB
taxlaw-9799	144	11	the	the	DET
taxlaw-9799	144	12	msc	msc	PROPN
taxlaw-9799	144	13	shares	share	NOUN
taxlaw-9799	144	14	for	for	ADP
taxlaw-9799	144	15	cash	cash	NOUN
taxlaw-9799	144	16	and	and	CCONJ
taxlaw-9799	144	17	distributed	distribute	VERB
taxlaw-9799	144	18	the	the	DET
taxlaw-9799	144	19	proceeds	proceed	NOUN
taxlaw-9799	144	20	to	to	ADP
taxlaw-9799	144	21	gregory	gregory	PROPN
taxlaw-9799	144	22	in	in	ADP
taxlaw-9799	144	23	a	a	DET
taxlaw-9799	144	24	cash	cash	NOUN
taxlaw-9799	144	25	dividend	dividend	NOUN
taxlaw-9799	144	26	.	.	PUNCT
taxlaw-9799	145	1	the	the	DET
taxlaw-9799	145	2	supreme	supreme	PROPN
taxlaw-9799	145	3	court	court	PROPN
taxlaw-9799	145	4	agreed	agree	VERB
taxlaw-9799	145	5	with	with	ADP
taxlaw-9799	145	6	commissioner	commissioner	NOUN
taxlaw-9799	145	7	,	,	PUNCT
taxlaw-9799	145	8	finding	find	VERB
taxlaw-9799	145	9	that	that	SCONJ
taxlaw-9799	145	10	the	the	DET
taxlaw-9799	145	11	transaction	transaction	NOUN
taxlaw-9799	145	12	lacked	lack	VERB
taxlaw-9799	145	13	any	any	DET
taxlaw-9799	145	14	business	business	NOUN
taxlaw-9799	145	15	purpose	purpose	NOUN
taxlaw-9799	145	16	and	and	CCONJ
taxlaw-9799	145	17	was	be	AUX
taxlaw-9799	145	18	merely	merely	ADV
taxlaw-9799	145	19	a	a	DET
taxlaw-9799	145	20	“	"	PUNCT
taxlaw-9799	145	21	device	device	NOUN
taxlaw-9799	145	22	which	which	PRON
taxlaw-9799	145	23	put	put	VERB
taxlaw-9799	145	24	on	on	ADP
taxlaw-9799	145	25	the	the	DET
taxlaw-9799	145	26	form	form	NOUN
taxlaw-9799	145	27	of	of	ADP
taxlaw-9799	145	28	a	a	DET
taxlaw-9799	145	29	corporate	corporate	ADJ
taxlaw-9799	145	30	reorganization	reorganization	NOUN
taxlaw-9799	145	31	as	as	ADP
taxlaw-9799	145	32	a	a	DET
taxlaw-9799	145	33	disguise	disguise	NOUN
taxlaw-9799	145	34	for	for	ADP
taxlaw-9799	145	35	concealing	conceal	VERB
taxlaw-9799	145	36	its	its	PRON
taxlaw-9799	145	37	real	real	ADJ
taxlaw-9799	145	38	character	character	NOUN
taxlaw-9799	145	39	,	,	PUNCT
taxlaw-9799	145	40	and	and	CCONJ
taxlaw-9799	145	41	the	the	DET
taxlaw-9799	145	42	sole	sole	ADJ
taxlaw-9799	145	43	object	object	NOUN
taxlaw-9799	145	44	and	and	CCONJ
taxlaw-9799	145	45	accomplishment	accomplishment	NOUN
taxlaw-9799	145	46	of	of	ADP
taxlaw-9799	145	47	which	which	PRON
taxlaw-9799	145	48	was	be	AUX
taxlaw-9799	145	49	the	the	DET
taxlaw-9799	145	50	consummation	consummation	NOUN
taxlaw-9799	145	51	of	of	ADP
taxlaw-9799	145	52	a	a	DET
taxlaw-9799	145	53	preconceived	preconceived	ADJ
taxlaw-9799	145	54	plan	plan	NOUN
taxlaw-9799	145	55	,	,	PUNCT
taxlaw-9799	145	56	not	not	PART
taxlaw-9799	145	57	to	to	PART
taxlaw-9799	145	58	reorganize	reorganize	VERB
taxlaw-9799	145	59	a	a	DET
taxlaw-9799	145	60	business	business	NOUN
taxlaw-9799	145	61	.	.	PUNCT
taxlaw-9799	145	62	.	.	PUNCT
taxlaw-9799	145	63	.	.	PUNCT
taxlaw-9799	146	1	but	but	CCONJ
taxlaw-9799	146	2	to	to	PART
taxlaw-9799	146	3	transfer	transfer	VERB
taxlaw-9799	146	4	a	a	DET
taxlaw-9799	146	5	parcel	parcel	NOUN
taxlaw-9799	146	6	of	of	ADP
taxlaw-9799	146	7	corporate	corporate	ADJ
taxlaw-9799	146	8	shares	share	NOUN
taxlaw-9799	146	9	to	to	ADP
taxlaw-9799	146	10	the	the	DET
taxlaw-9799	146	11	petitioner	petitioner	NOUN
taxlaw-9799	146	12	.	.	PUNCT
taxlaw-9799	146	13	”	"	PUNCT
taxlaw-9799	147	1	i	i	PRON
taxlaw-9799	147	2	d.	d.	PROPN
taxlaw-9799	147	3	35	35	NUM
taxlaw-9799	148	1	i	i	PRON
taxlaw-9799	148	2	d.	d.	PROPN
taxlaw-9799	148	3	173	173	NUM
taxlaw-9799	148	4	columbia	columbia	PROPN
taxlaw-9799	148	5	journal	journal	PROPN
taxlaw-9799	148	6	of	of	ADP
taxlaw-9799	148	7	tax	tax	NOUN
taxlaw-9799	148	8	law	law	NOUN
taxlaw-9799	149	1	[	[	X
taxlaw-9799	149	2	vol	vol	NOUN
taxlaw-9799	149	3	:	:	PUNCT
taxlaw-9799	149	4	13:2	13:2	NUM
taxlaw-9799	149	5	nevertheless	nevertheless	ADV
taxlaw-9799	149	6	violated	violate	VERB
taxlaw-9799	149	7	the	the	DET
taxlaw-9799	149	8	spirit	spirit	NOUN
taxlaw-9799	149	9	of	of	ADP
taxlaw-9799	149	10	the	the	DET
taxlaw-9799	149	11	law	law	NOUN
taxlaw-9799	149	12	.	.	PUNCT
taxlaw-9799	150	1	the	the	DET
taxlaw-9799	150	2	case	case	NOUN
taxlaw-9799	150	3	has	have	AUX
taxlaw-9799	150	4	served	serve	VERB
taxlaw-9799	150	5	as	as	ADP
taxlaw-9799	150	6	an	an	DET
taxlaw-9799	150	7	important	important	ADJ
taxlaw-9799	150	8	lens	lens	NOUN
taxlaw-9799	150	9	through	through	ADP
taxlaw-9799	150	10	which	which	PRON
taxlaw-9799	150	11	the	the	DET
taxlaw-9799	150	12	government	government	NOUN
taxlaw-9799	150	13	and	and	CCONJ
taxlaw-9799	150	14	taxpayers	taxpayer	NOUN
taxlaw-9799	150	15	have	have	AUX
taxlaw-9799	150	16	interpreted	interpret	VERB
taxlaw-9799	150	17	the	the	DET
taxlaw-9799	150	18	spin	spin	VERB
taxlaw-9799	150	19	-	-	PUNCT
taxlaw-9799	150	20	off	off	ADP
taxlaw-9799	150	21	rules	rule	NOUN
taxlaw-9799	150	22	for	for	ADP
taxlaw-9799	150	23	almost	almost	ADV
taxlaw-9799	150	24	a	a	PRON
taxlaw-9799	150	25	century	century	NOUN
taxlaw-9799	150	26	.	.	PUNCT
taxlaw-9799	151	1	to	to	PART
taxlaw-9799	151	2	qualify	qualify	VERB
taxlaw-9799	151	3	for	for	ADP
taxlaw-9799	151	4	tax	tax	NOUN
taxlaw-9799	151	5	-	-	PUNCT
taxlaw-9799	151	6	free	free	ADJ
taxlaw-9799	151	7	treatment	treatment	NOUN
taxlaw-9799	151	8	under	under	ADP
taxlaw-9799	151	9	section	section	NOUN
taxlaw-9799	151	10	355	355	NUM
taxlaw-9799	151	11	,	,	PUNCT
taxlaw-9799	151	12	the	the	DET
taxlaw-9799	151	13	transaction	transaction	NOUN
taxlaw-9799	151	14	must	must	AUX
taxlaw-9799	151	15	satisfy	satisfy	VERB
taxlaw-9799	151	16	two	two	NUM
taxlaw-9799	151	17	common	common	ADJ
taxlaw-9799	151	18	law	law	NOUN
taxlaw-9799	151	19	requirements	requirement	NOUN
taxlaw-9799	151	20	:	:	PUNCT
taxlaw-9799	151	21	corporate	corporate	ADJ
taxlaw-9799	151	22	business	business	NOUN
taxlaw-9799	151	23	purpose	purpose	NOUN
taxlaw-9799	151	24	and	and	CCONJ
taxlaw-9799	151	25	continuity	continuity	NOUN
taxlaw-9799	151	26	of	of	ADP
taxlaw-9799	151	27	interest	interest	NOUN
taxlaw-9799	151	28	.	.	PUNCT
taxlaw-9799	152	1	moreover	moreover	ADV
taxlaw-9799	152	2	,	,	PUNCT
taxlaw-9799	152	3	three	three	NUM
taxlaw-9799	152	4	major	major	ADJ
taxlaw-9799	152	5	statutory	statutory	ADJ
taxlaw-9799	152	6	requirements	requirement	NOUN
taxlaw-9799	152	7	must	must	AUX
taxlaw-9799	152	8	also	also	ADV
taxlaw-9799	152	9	be	be	AUX
taxlaw-9799	152	10	met	meet	VERB
taxlaw-9799	152	11	:	:	PUNCT
taxlaw-9799	152	12	distribution	distribution	NOUN
taxlaw-9799	152	13	of	of	ADP
taxlaw-9799	152	14	sufficient	sufficient	ADJ
taxlaw-9799	152	15	control	control	NOUN
taxlaw-9799	152	16	,	,	PUNCT
taxlaw-9799	152	17	the	the	DET
taxlaw-9799	152	18	active	active	ADJ
taxlaw-9799	152	19	conduct	conduct	NOUN
taxlaw-9799	152	20	of	of	ADP
taxlaw-9799	152	21	a	a	DET
taxlaw-9799	152	22	trade	trade	NOUN
taxlaw-9799	152	23	or	or	CCONJ
taxlaw-9799	152	24	business	business	NOUN
taxlaw-9799	152	25	,	,	PUNCT
taxlaw-9799	152	26	and	and	CCONJ
taxlaw-9799	152	27	nondevice	nondevice	NOUN
taxlaw-9799	152	28	.	.	PUNCT
taxlaw-9799	153	1	in	in	ADP
taxlaw-9799	153	2	addition	addition	NOUN
taxlaw-9799	153	3	,	,	PUNCT
taxlaw-9799	153	4	congress	congress	PROPN
taxlaw-9799	153	5	in	in	ADP
taxlaw-9799	153	6	recent	recent	ADJ
taxlaw-9799	153	7	decades	decade	NOUN
taxlaw-9799	153	8	has	have	AUX
taxlaw-9799	153	9	enacted	enact	VERB
taxlaw-9799	153	10	additional	additional	ADJ
taxlaw-9799	153	11	statutory	statutory	ADJ
taxlaw-9799	153	12	provisions	provision	NOUN
taxlaw-9799	153	13	in	in	ADP
taxlaw-9799	153	14	response	response	NOUN
taxlaw-9799	153	15	to	to	ADP
taxlaw-9799	153	16	perceived	perceive	VERB
taxlaw-9799	153	17	abuses	abuse	NOUN
taxlaw-9799	153	18	of	of	ADP
taxlaw-9799	153	19	section	section	NOUN
taxlaw-9799	153	20	355	355	NUM
taxlaw-9799	153	21	,	,	PUNCT
taxlaw-9799	153	22	including	include	VERB
taxlaw-9799	153	23	section	section	NOUN
taxlaw-9799	153	24	355(d	355(d	PROPN
taxlaw-9799	153	25	)	)	PUNCT
taxlaw-9799	153	26	and	and	CCONJ
taxlaw-9799	153	27	section	section	NOUN
taxlaw-9799	153	28	355(e	355(e	PROPN
taxlaw-9799	153	29	)	)	PUNCT
taxlaw-9799	153	30	.	.	PUNCT
taxlaw-9799	154	1	finally	finally	ADV
taxlaw-9799	154	2	,	,	PUNCT
taxlaw-9799	154	3	section	section	NOUN
taxlaw-9799	154	4	367	367	NUM
taxlaw-9799	154	5	contains	contain	VERB
taxlaw-9799	154	6	provisions	provision	NOUN
taxlaw-9799	154	7	that	that	PRON
taxlaw-9799	154	8	turn	turn	VERB
taxlaw-9799	154	9	off	off	ADP
taxlaw-9799	154	10	nonrecognition	nonrecognition	NOUN
taxlaw-9799	154	11	for	for	ADP
taxlaw-9799	154	12	a	a	DET
taxlaw-9799	154	13	u.s	u.s	PROPN
taxlaw-9799	154	14	.	.	PROPN
taxlaw-9799	154	15	corporation	corporation	NOUN
taxlaw-9799	154	16	that	that	PRON
taxlaw-9799	154	17	spins	spin	VERB
taxlaw-9799	154	18	off	off	ADP
taxlaw-9799	154	19	a	a	DET
taxlaw-9799	154	20	foreign	foreign	ADJ
taxlaw-9799	154	21	business	business	NOUN
taxlaw-9799	154	22	with	with	ADP
taxlaw-9799	154	23	appreciated	appreciated	ADJ
taxlaw-9799	154	24	assets	asset	NOUN
taxlaw-9799	154	25	.	.	PUNCT
taxlaw-9799	155	1	1	1	X
taxlaw-9799	155	2	.	.	X
taxlaw-9799	155	3	statutory	statutory	ADJ
taxlaw-9799	155	4	requirements	requirement	NOUN
taxlaw-9799	155	5	a.	a.	NOUN
taxlaw-9799	155	6	distribution	distribution	NOUN
taxlaw-9799	155	7	of	of	ADP
taxlaw-9799	155	8	control	control	NOUN
taxlaw-9799	155	9	spin	spin	VERB
taxlaw-9799	155	10	-	-	PUNCT
taxlaw-9799	155	11	off	off	ADP
taxlaw-9799	155	12	transactions	transaction	NOUN
taxlaw-9799	155	13	must	must	AUX
taxlaw-9799	155	14	result	result	VERB
taxlaw-9799	155	15	in	in	ADP
taxlaw-9799	155	16	distribution	distribution	NOUN
taxlaw-9799	155	17	of	of	ADP
taxlaw-9799	155	18	control	control	NOUN
taxlaw-9799	155	19	.	.	PUNCT
taxlaw-9799	156	1	the	the	DET
taxlaw-9799	156	2	parent	parent	NOUN
taxlaw-9799	156	3	must	must	AUX
taxlaw-9799	156	4	distribute	distribute	VERB
taxlaw-9799	156	5	either	either	CCONJ
taxlaw-9799	156	6	all	all	PRON
taxlaw-9799	156	7	of	of	ADP
taxlaw-9799	156	8	its	its	PRON
taxlaw-9799	156	9	stock	stock	NOUN
taxlaw-9799	156	10	in	in	ADP
taxlaw-9799	156	11	the	the	DET
taxlaw-9799	156	12	spinco	spinco	NOUN
taxlaw-9799	156	13	or	or	CCONJ
taxlaw-9799	156	14	a	a	DET
taxlaw-9799	156	15	sufficient	sufficient	ADJ
taxlaw-9799	156	16	amount	amount	NOUN
taxlaw-9799	156	17	so	so	SCONJ
taxlaw-9799	156	18	as	as	SCONJ
taxlaw-9799	156	19	to	to	PART
taxlaw-9799	156	20	place	place	VERB
taxlaw-9799	156	21	the	the	DET
taxlaw-9799	156	22	parent	parent	NOUN
taxlaw-9799	156	23	shareholders	shareholder	NOUN
taxlaw-9799	156	24	in	in	ADP
taxlaw-9799	156	25	control	control	NOUN
taxlaw-9799	156	26	of	of	ADP
taxlaw-9799	156	27	the	the	DET
taxlaw-9799	156	28	spinco.36	spinco.36	NOUN
taxlaw-9799	156	29	“	"	PUNCT
taxlaw-9799	156	30	control	control	NOUN
taxlaw-9799	156	31	”	"	PUNCT
taxlaw-9799	156	32	is	be	AUX
taxlaw-9799	156	33	defined	define	VERB
taxlaw-9799	156	34	as	as	ADP
taxlaw-9799	156	35	ownership	ownership	NOUN
taxlaw-9799	156	36	of	of	ADP
taxlaw-9799	156	37	stock	stock	NOUN
taxlaw-9799	156	38	that	that	PRON
taxlaw-9799	156	39	entails	entail	VERB
taxlaw-9799	156	40	possession	possession	NOUN
taxlaw-9799	156	41	of	of	ADP
taxlaw-9799	156	42	at	at	ADV
taxlaw-9799	156	43	least	least	ADJ
taxlaw-9799	156	44	both	both	DET
taxlaw-9799	156	45	80	80	NUM
taxlaw-9799	156	46	%	%	NOUN
taxlaw-9799	156	47	of	of	ADP
taxlaw-9799	156	48	the	the	DET
taxlaw-9799	156	49	total	total	ADJ
taxlaw-9799	156	50	combined	combined	ADJ
taxlaw-9799	156	51	voting	voting	NOUN
taxlaw-9799	156	52	power	power	NOUN
taxlaw-9799	156	53	of	of	ADP
taxlaw-9799	156	54	all	all	DET
taxlaw-9799	156	55	classes	class	NOUN
taxlaw-9799	156	56	of	of	ADP
taxlaw-9799	156	57	stock	stock	NOUN
taxlaw-9799	156	58	entitled	entitle	VERB
taxlaw-9799	156	59	to	to	PART
taxlaw-9799	156	60	vote	vote	VERB
taxlaw-9799	156	61	,	,	PUNCT
taxlaw-9799	156	62	as	as	ADV
taxlaw-9799	156	63	well	well	ADV
taxlaw-9799	156	64	as	as	ADP
taxlaw-9799	156	65	80	80	NUM
taxlaw-9799	156	66	%	%	NOUN
taxlaw-9799	156	67	of	of	ADP
taxlaw-9799	156	68	the	the	DET
taxlaw-9799	156	69	total	total	ADJ
taxlaw-9799	156	70	number	number	NOUN
taxlaw-9799	156	71	of	of	ADP
taxlaw-9799	156	72	shares	share	NOUN
taxlaw-9799	156	73	of	of	ADP
taxlaw-9799	156	74	each	each	DET
taxlaw-9799	156	75	other	other	ADJ
taxlaw-9799	156	76	class	class	NOUN
taxlaw-9799	156	77	of	of	ADP
taxlaw-9799	156	78	stock	stock	NOUN
taxlaw-9799	156	79	of	of	ADP
taxlaw-9799	156	80	the	the	DET
taxlaw-9799	156	81	corporation.37	corporation.37	NOUN
taxlaw-9799	156	82	this	this	DET
taxlaw-9799	156	83	provision	provision	NOUN
taxlaw-9799	156	84	is	be	AUX
taxlaw-9799	156	85	important	important	ADJ
taxlaw-9799	156	86	because	because	SCONJ
taxlaw-9799	156	87	if	if	SCONJ
taxlaw-9799	156	88	the	the	DET
taxlaw-9799	156	89	parent	parent	NOUN
taxlaw-9799	156	90	does	do	AUX
taxlaw-9799	156	91	not	not	PART
taxlaw-9799	156	92	maintain	maintain	VERB
taxlaw-9799	156	93	sufficient	sufficient	ADJ
taxlaw-9799	156	94	control	control	NOUN
taxlaw-9799	156	95	over	over	ADP
taxlaw-9799	156	96	spinco	spinco	PROPN
taxlaw-9799	156	97	,	,	PUNCT
taxlaw-9799	156	98	the	the	DET
taxlaw-9799	156	99	spin	spin	NOUN
taxlaw-9799	156	100	-	-	PUNCT
taxlaw-9799	156	101	off	off	NOUN
taxlaw-9799	156	102	begins	begin	VERB
taxlaw-9799	156	103	to	to	PART
taxlaw-9799	156	104	resemble	resemble	VERB
taxlaw-9799	156	105	the	the	DET
taxlaw-9799	156	106	sale	sale	NOUN
taxlaw-9799	156	107	of	of	ADP
taxlaw-9799	156	108	a	a	DET
taxlaw-9799	156	109	business	business	NOUN
taxlaw-9799	156	110	unit	unit	NOUN
taxlaw-9799	156	111	,	,	PUNCT
taxlaw-9799	156	112	and	and	CCONJ
taxlaw-9799	156	113	sales	sale	NOUN
taxlaw-9799	156	114	are	be	AUX
taxlaw-9799	156	115	generally	generally	ADV
taxlaw-9799	156	116	taxable	taxable	ADJ
taxlaw-9799	156	117	transactions.38	transactions.38	NOUN
taxlaw-9799	156	118	the	the	DET
taxlaw-9799	156	119	control	control	NOUN
taxlaw-9799	156	120	requirement	requirement	NOUN
taxlaw-9799	156	121	does	do	AUX
taxlaw-9799	156	122	not	not	PART
taxlaw-9799	156	123	seem	seem	VERB
taxlaw-9799	156	124	particularly	particularly	ADV
taxlaw-9799	156	125	problematic	problematic	ADJ
taxlaw-9799	156	126	for	for	SCONJ
taxlaw-9799	156	127	conglomerates	conglomerate	NOUN
taxlaw-9799	156	128	to	to	PART
taxlaw-9799	156	129	satisfy	satisfy	VERB
taxlaw-9799	156	130	and	and	CCONJ
taxlaw-9799	156	131	overcome	overcome	VERB
taxlaw-9799	156	132	because	because	SCONJ
taxlaw-9799	156	133	it	it	PRON
taxlaw-9799	156	134	is	be	AUX
taxlaw-9799	156	135	a	a	DET
taxlaw-9799	156	136	mechanical	mechanical	ADJ
taxlaw-9799	156	137	test	test	NOUN
taxlaw-9799	156	138	.	.	PUNCT
taxlaw-9799	157	1	conglomerates	conglomerate	NOUN
taxlaw-9799	157	2	are	be	AUX
taxlaw-9799	157	3	often	often	ADV
taxlaw-9799	157	4	sitting	sit	VERB
taxlaw-9799	157	5	on	on	ADP
taxlaw-9799	157	6	business	business	NOUN
taxlaw-9799	157	7	units	unit	NOUN
taxlaw-9799	157	8	and	and	CCONJ
taxlaw-9799	157	9	holdings	holding	NOUN
taxlaw-9799	157	10	that	that	PRON
taxlaw-9799	157	11	they	they	PRON
taxlaw-9799	157	12	have	have	AUX
taxlaw-9799	157	13	accumulated	accumulate	VERB
taxlaw-9799	157	14	over	over	ADP
taxlaw-9799	157	15	decades	decade	NOUN
taxlaw-9799	157	16	.	.	PUNCT
taxlaw-9799	158	1	although	although	SCONJ
taxlaw-9799	158	2	satisfying	satisfy	VERB
taxlaw-9799	158	3	the	the	DET
taxlaw-9799	158	4	control	control	NOUN
taxlaw-9799	158	5	requirement	requirement	NOUN
taxlaw-9799	158	6	may	may	AUX
taxlaw-9799	158	7	necessitate	necessitate	VERB
taxlaw-9799	158	8	some	some	DET
taxlaw-9799	158	9	pre	pre	ADJ
taxlaw-9799	158	10	-	-	ADJ
taxlaw-9799	158	11	spin	spin	VERB
taxlaw-9799	158	12	-	-	PUNCT
taxlaw-9799	158	13	off	off	ADP
taxlaw-9799	158	14	internal	internal	ADJ
taxlaw-9799	158	15	corporate	corporate	ADJ
taxlaw-9799	158	16	restructuring	restructuring	NOUN
taxlaw-9799	158	17	,	,	PUNCT
taxlaw-9799	158	18	as	as	ADV
taxlaw-9799	158	19	long	long	ADV
taxlaw-9799	158	20	as	as	SCONJ
taxlaw-9799	158	21	conglomerates	conglomerate	NOUN
taxlaw-9799	158	22	navigate	navigate	VERB
taxlaw-9799	158	23	this	this	DET
taxlaw-9799	158	24	mechanical	mechanical	ADJ
taxlaw-9799	158	25	rule	rule	NOUN
taxlaw-9799	158	26	carefully	carefully	ADV
taxlaw-9799	158	27	,	,	PUNCT
taxlaw-9799	158	28	it	it	PRON
taxlaw-9799	158	29	should	should	AUX
taxlaw-9799	158	30	not	not	PART
taxlaw-9799	158	31	stand	stand	VERB
taxlaw-9799	158	32	in	in	ADP
taxlaw-9799	158	33	the	the	DET
taxlaw-9799	158	34	way	way	NOUN
taxlaw-9799	158	35	of	of	ADP
taxlaw-9799	158	36	deconglomeration	deconglomeration	NOUN
taxlaw-9799	158	37	through	through	ADP
taxlaw-9799	158	38	a	a	DET
taxlaw-9799	158	39	spin	spin	NOUN
taxlaw-9799	158	40	-	-	PUNCT
taxlaw-9799	158	41	off	off	NOUN
taxlaw-9799	158	42	.	.	PUNCT
taxlaw-9799	159	1	b.	b.	PROPN
taxlaw-9799	160	1	active	active	ADJ
taxlaw-9799	160	2	conduct	conduct	NOUN
taxlaw-9799	160	3	of	of	ADP
taxlaw-9799	160	4	a	a	DET
taxlaw-9799	160	5	trade	trade	NOUN
taxlaw-9799	160	6	or	or	CCONJ
taxlaw-9799	160	7	business	business	NOUN
taxlaw-9799	160	8	the	the	DET
taxlaw-9799	160	9	active	active	ADJ
taxlaw-9799	160	10	trade	trade	NOUN
taxlaw-9799	160	11	or	or	CCONJ
taxlaw-9799	160	12	business	business	NOUN
taxlaw-9799	160	13	provision	provision	NOUN
taxlaw-9799	160	14	requires	require	VERB
taxlaw-9799	160	15	that	that	SCONJ
taxlaw-9799	160	16	parent	parent	NOUN
taxlaw-9799	160	17	and	and	CCONJ
taxlaw-9799	160	18	spinco	spinco	NOUN
taxlaw-9799	160	19	be	be	AUX
taxlaw-9799	160	20	“	"	PUNCT
taxlaw-9799	160	21	engaged	engage	VERB
taxlaw-9799	160	22	in	in	ADP
taxlaw-9799	160	23	the	the	DET
taxlaw-9799	160	24	active	active	ADJ
taxlaw-9799	160	25	conduct	conduct	NOUN
taxlaw-9799	160	26	of	of	ADP
taxlaw-9799	160	27	a	a	DET
taxlaw-9799	160	28	trade	trade	NOUN
taxlaw-9799	160	29	or	or	CCONJ
taxlaw-9799	160	30	business	business	NOUN
taxlaw-9799	160	31	immediately	immediately	ADV
taxlaw-9799	160	32	after	after	SCONJ
taxlaw-9799	160	33	the	the	DET
taxlaw-9799	160	34	36	36	NUM
taxlaw-9799	160	35	see	see	NOUN
taxlaw-9799	160	36	kotran	kotran	PROPN
taxlaw-9799	160	37	et	et	PROPN
taxlaw-9799	160	38	al	al	PROPN
taxlaw-9799	160	39	.	.	PROPN
taxlaw-9799	160	40	,	,	PUNCT
taxlaw-9799	160	41	spin	spin	NOUN
taxlaw-9799	160	42	-	-	PUNCT
taxlaw-9799	160	43	offs	off	NOUN
taxlaw-9799	160	44	:	:	PUNCT
taxlaw-9799	160	45	overview	overview	NOUN
taxlaw-9799	160	46	,	,	PUNCT
taxlaw-9799	160	47	practical	practical	ADJ
taxlaw-9799	160	48	law	law	NOUN
taxlaw-9799	160	49	practice	practice	NOUN
taxlaw-9799	160	50	note	note	NOUN
taxlaw-9799	160	51	overview	overview	VERB
taxlaw-9799	160	52	2	2	NUM
taxlaw-9799	160	53	-	-	SYM
taxlaw-9799	160	54	5031986	5031986	NUM
taxlaw-9799	160	55	.	.	PUNCT
taxlaw-9799	161	1	37	37	NUM
taxlaw-9799	162	1	i	i	PRON
taxlaw-9799	162	2	d.	d.	PROPN
taxlaw-9799	162	3	38	38	NUM
taxlaw-9799	162	4	moreover	moreover	ADV
taxlaw-9799	162	5	,	,	PUNCT
taxlaw-9799	162	6	any	any	DET
taxlaw-9799	162	7	spinco	spinco	NOUN
taxlaw-9799	162	8	stock	stock	NOUN
taxlaw-9799	162	9	that	that	PRON
taxlaw-9799	162	10	parent	parent	NOUN
taxlaw-9799	162	11	acquired	acquire	VERB
taxlaw-9799	162	12	in	in	ADP
taxlaw-9799	162	13	a	a	DET
taxlaw-9799	162	14	taxable	taxable	ADJ
taxlaw-9799	162	15	transaction	transaction	NOUN
taxlaw-9799	162	16	during	during	ADP
taxlaw-9799	162	17	the	the	DET
taxlaw-9799	162	18	five	five	NUM
taxlaw-9799	162	19	years	year	NOUN
taxlaw-9799	162	20	before	before	SCONJ
taxlaw-9799	162	21	the	the	DET
taxlaw-9799	162	22	spin	spin	NOUN
taxlaw-9799	162	23	-	-	PUNCT
taxlaw-9799	162	24	off	off	NOUN
taxlaw-9799	162	25	is	be	AUX
taxlaw-9799	162	26	deemed	deem	VERB
taxlaw-9799	162	27	“	"	PUNCT
taxlaw-9799	162	28	hot	hot	ADJ
taxlaw-9799	162	29	stock	stock	NOUN
taxlaw-9799	162	30	”	"	PUNCT
taxlaw-9799	162	31	and	and	CCONJ
taxlaw-9799	162	32	does	do	AUX
taxlaw-9799	162	33	not	not	PART
taxlaw-9799	162	34	qualify	qualify	VERB
taxlaw-9799	162	35	for	for	ADP
taxlaw-9799	162	36	tax	tax	NOUN
taxlaw-9799	162	37	-	-	PUNCT
taxlaw-9799	162	38	free	free	ADJ
taxlaw-9799	162	39	treatment	treatment	NOUN
taxlaw-9799	162	40	.	.	PUNCT
taxlaw-9799	163	1	see	see	VERB
taxlaw-9799	163	2	spinoffs	spinoff	NOUN
taxlaw-9799	163	3	:	:	PUNCT
taxlaw-9799	163	4	tax	tax	NOUN
taxlaw-9799	163	5	overview	overview	NOUN
taxlaw-9799	163	6	,	,	PUNCT
taxlaw-9799	163	7	supra	supra	PROPN
taxlaw-9799	163	8	note	note	NOUN
taxlaw-9799	163	9	36	36	NUM
taxlaw-9799	163	10	.	.	PUNCT
taxlaw-9799	164	1	here	here	ADV
taxlaw-9799	164	2	,	,	PUNCT
taxlaw-9799	164	3	the	the	DET
taxlaw-9799	164	4	government	government	NOUN
taxlaw-9799	164	5	wishes	wish	VERB
taxlaw-9799	164	6	to	to	PART
taxlaw-9799	164	7	prevent	prevent	VERB
taxlaw-9799	164	8	parent	parent	NOUN
taxlaw-9799	164	9	from	from	ADP
taxlaw-9799	164	10	using	use	VERB
taxlaw-9799	164	11	excess	excess	ADJ
taxlaw-9799	164	12	cash	cash	NOUN
taxlaw-9799	164	13	to	to	PART
taxlaw-9799	164	14	buy	buy	VERB
taxlaw-9799	164	15	shares	share	NOUN
taxlaw-9799	164	16	of	of	ADP
taxlaw-9799	164	17	spinco	spinco	NOUN
taxlaw-9799	164	18	and	and	CCONJ
taxlaw-9799	164	19	then	then	ADV
taxlaw-9799	164	20	distribute	distribute	VERB
taxlaw-9799	164	21	those	those	DET
taxlaw-9799	164	22	shares	share	NOUN
taxlaw-9799	164	23	to	to	ADP
taxlaw-9799	164	24	stockholders	stockholder	NOUN
taxlaw-9799	164	25	as	as	ADP
taxlaw-9799	164	26	an	an	DET
taxlaw-9799	164	27	in	in	ADP
taxlaw-9799	164	28	-	-	PUNCT
taxlaw-9799	164	29	kind	kind	NOUN
taxlaw-9799	164	30	but	but	CCONJ
taxlaw-9799	164	31	tax	tax	NOUN
taxlaw-9799	164	32	-	-	PUNCT
taxlaw-9799	164	33	free	free	ADJ
taxlaw-9799	164	34	dividend	dividend	NOUN
taxlaw-9799	164	35	.	.	PUNCT
taxlaw-9799	165	1	i	i	PRON
taxlaw-9799	165	2	d.	d.	PROPN
taxlaw-9799	165	3	2022	2022	NUM
taxlaw-9799	165	4	]	]	PUNCT
taxlaw-9799	165	5	conglomerate	conglomerate	NOUN
taxlaw-9799	165	6	spin	spin	NOUN
taxlaw-9799	165	7	-	-	PUNCT
taxlaw-9799	165	8	offs	off	NOUN
taxlaw-9799	165	9	174	174	NUM
taxlaw-9799	165	10	distribution”39	distribution”39	PROPN
taxlaw-9799	165	11	and	and	CCONJ
taxlaw-9799	165	12	that	that	SCONJ
taxlaw-9799	165	13	the	the	DET
taxlaw-9799	165	14	trade	trade	NOUN
taxlaw-9799	165	15	or	or	CCONJ
taxlaw-9799	165	16	business	business	NOUN
taxlaw-9799	165	17	has	have	AUX
taxlaw-9799	165	18	been	be	AUX
taxlaw-9799	165	19	“	"	PUNCT
taxlaw-9799	165	20	actively	actively	ADV
taxlaw-9799	165	21	conducted	conduct	VERB
taxlaw-9799	165	22	throughout	throughout	ADP
taxlaw-9799	165	23	the	the	DET
taxlaw-9799	165	24	five	five	NUM
taxlaw-9799	165	25	-	-	PUNCT
taxlaw-9799	165	26	year	year	NOUN
taxlaw-9799	165	27	period	period	NOUN
taxlaw-9799	165	28	ending	end	VERB
taxlaw-9799	165	29	on	on	ADP
taxlaw-9799	165	30	the	the	DET
taxlaw-9799	165	31	date	date	NOUN
taxlaw-9799	165	32	of	of	ADP
taxlaw-9799	165	33	the	the	DET
taxlaw-9799	165	34	distribution	distribution	NOUN
taxlaw-9799	165	35	.	.	PUNCT
taxlaw-9799	166	1	”40	”40	NOUN
taxlaw-9799	166	2	activities	activity	NOUN
taxlaw-9799	166	3	qualify	qualify	VERB
taxlaw-9799	166	4	as	as	ADP
taxlaw-9799	166	5	trade	trade	NOUN
taxlaw-9799	166	6	or	or	CCONJ
taxlaw-9799	166	7	business	business	NOUN
taxlaw-9799	166	8	activities	activity	NOUN
taxlaw-9799	166	9	if	if	SCONJ
taxlaw-9799	166	10	they	they	PRON
taxlaw-9799	166	11	are	be	AUX
taxlaw-9799	166	12	for	for	ADP
taxlaw-9799	166	13	the	the	DET
taxlaw-9799	166	14	purpose	purpose	NOUN
taxlaw-9799	166	15	of	of	ADP
taxlaw-9799	166	16	earning	earn	VERB
taxlaw-9799	166	17	income	income	NOUN
taxlaw-9799	166	18	or	or	CCONJ
taxlaw-9799	166	19	profits.41	profits.41	ADP
taxlaw-9799	166	20	such	such	ADJ
taxlaw-9799	166	21	activities	activity	NOUN
taxlaw-9799	166	22	include	include	VERB
taxlaw-9799	166	23	every	every	DET
taxlaw-9799	166	24	operation	operation	NOUN
taxlaw-9799	166	25	that	that	PRON
taxlaw-9799	166	26	forms	form	VERB
taxlaw-9799	166	27	part	part	NOUN
taxlaw-9799	166	28	of	of	ADP
taxlaw-9799	166	29	earning	earn	VERB
taxlaw-9799	166	30	income	income	NOUN
taxlaw-9799	166	31	,	,	PUNCT
taxlaw-9799	166	32	and	and	CCONJ
taxlaw-9799	166	33	the	the	DET
taxlaw-9799	166	34	activities	activity	NOUN
taxlaw-9799	166	35	must	must	AUX
taxlaw-9799	166	36	generally	generally	ADV
taxlaw-9799	166	37	include	include	VERB
taxlaw-9799	166	38	the	the	DET
taxlaw-9799	166	39	receipt	receipt	NOUN
taxlaw-9799	166	40	of	of	ADP
taxlaw-9799	166	41	income	income	NOUN
taxlaw-9799	166	42	and	and	CCONJ
taxlaw-9799	166	43	payment	payment	NOUN
taxlaw-9799	166	44	of	of	ADP
taxlaw-9799	166	45	expenses.42	expenses.42	NOUN
taxlaw-9799	166	46	by	by	ADP
taxlaw-9799	166	47	contrast	contrast	NOUN
taxlaw-9799	166	48	,	,	PUNCT
taxlaw-9799	166	49	the	the	DET
taxlaw-9799	166	50	“	"	PUNCT
taxlaw-9799	166	51	holding	hold	VERB
taxlaw-9799	166	52	for	for	ADP
taxlaw-9799	166	53	investment	investment	NOUN
taxlaw-9799	166	54	purposes	purpose	NOUN
taxlaw-9799	166	55	of	of	ADP
taxlaw-9799	166	56	stock	stock	NOUN
taxlaw-9799	166	57	,	,	PUNCT
taxlaw-9799	166	58	securities	security	NOUN
taxlaw-9799	166	59	,	,	PUNCT
taxlaw-9799	166	60	land	land	NOUN
taxlaw-9799	166	61	,	,	PUNCT
taxlaw-9799	166	62	or	or	CCONJ
taxlaw-9799	166	63	other	other	ADJ
taxlaw-9799	166	64	property	property	NOUN
taxlaw-9799	166	65	,	,	PUNCT
taxlaw-9799	166	66	or	or	CCONJ
taxlaw-9799	166	67	[	[	X
taxlaw-9799	166	68	t]he	t]he	ADV
taxlaw-9799	166	69	ownership	ownership	NOUN
taxlaw-9799	166	70	and	and	CCONJ
taxlaw-9799	166	71	operating	operate	VERB
taxlaw-9799	166	72	(	(	PUNCT
taxlaw-9799	166	73	including	include	VERB
taxlaw-9799	166	74	leasing	leasing	NOUN
taxlaw-9799	166	75	)	)	PUNCT
taxlaw-9799	166	76	of	of	ADP
taxlaw-9799	166	77	real	real	ADJ
taxlaw-9799	166	78	or	or	CCONJ
taxlaw-9799	166	79	personal	personal	ADJ
taxlaw-9799	166	80	property	property	NOUN
taxlaw-9799	166	81	used	use	VERB
taxlaw-9799	166	82	in	in	ADP
taxlaw-9799	166	83	a	a	DET
taxlaw-9799	166	84	trade	trade	NOUN
taxlaw-9799	166	85	or	or	CCONJ
taxlaw-9799	166	86	business	business	NOUN
taxlaw-9799	166	87	,	,	PUNCT
taxlaw-9799	166	88	unless	unless	SCONJ
taxlaw-9799	166	89	the	the	DET
taxlaw-9799	166	90	owner	owner	NOUN
taxlaw-9799	166	91	performs	perform	VERB
taxlaw-9799	166	92	significant	significant	ADJ
taxlaw-9799	166	93	services	service	NOUN
taxlaw-9799	166	94	with	with	ADP
taxlaw-9799	166	95	respect	respect	NOUN
taxlaw-9799	166	96	to	to	ADP
taxlaw-9799	166	97	the	the	DET
taxlaw-9799	166	98	operation	operation	NOUN
taxlaw-9799	166	99	and	and	CCONJ
taxlaw-9799	166	100	management	management	NOUN
taxlaw-9799	166	101	of	of	ADP
taxlaw-9799	166	102	the	the	DET
taxlaw-9799	166	103	property	property	NOUN
taxlaw-9799	166	104	,	,	PUNCT
taxlaw-9799	166	105	”	"	PUNCT
taxlaw-9799	166	106	does	do	AUX
taxlaw-9799	166	107	not	not	PART
taxlaw-9799	166	108	constitute	constitute	VERB
taxlaw-9799	166	109	active	active	ADJ
taxlaw-9799	166	110	conduct	conduct	NOUN
taxlaw-9799	166	111	of	of	ADP
taxlaw-9799	166	112	a	a	DET
taxlaw-9799	166	113	trade	trade	NOUN
taxlaw-9799	166	114	or	or	CCONJ
taxlaw-9799	166	115	business.43	business.43	NOUN
taxlaw-9799	166	116	proposed	propose	VERB
taxlaw-9799	166	117	regulations	regulation	NOUN
taxlaw-9799	166	118	from	from	ADP
taxlaw-9799	166	119	2016	2016	NUM
taxlaw-9799	166	120	(	(	PUNCT
taxlaw-9799	166	121	“	"	PUNCT
taxlaw-9799	166	122	the	the	DET
taxlaw-9799	166	123	2016	2016	NUM
taxlaw-9799	166	124	proposed	propose	VERB
taxlaw-9799	166	125	regulations	regulation	NOUN
taxlaw-9799	166	126	”	"	PUNCT
taxlaw-9799	166	127	)	)	PUNCT
taxlaw-9799	166	128	imposed	impose	VERB
taxlaw-9799	166	129	a	a	DET
taxlaw-9799	166	130	threshold	threshold	NOUN
taxlaw-9799	166	131	for	for	ADP
taxlaw-9799	166	132	the	the	DET
taxlaw-9799	166	133	size	size	NOUN
taxlaw-9799	166	134	of	of	ADP
taxlaw-9799	166	135	the	the	DET
taxlaw-9799	166	136	active	active	ADJ
taxlaw-9799	166	137	trade	trade	NOUN
taxlaw-9799	166	138	or	or	CCONJ
taxlaw-9799	166	139	business	business	NOUN
taxlaw-9799	166	140	,	,	PUNCT
taxlaw-9799	166	141	which	which	PRON
taxlaw-9799	166	142	must	must	AUX
taxlaw-9799	166	143	be	be	AUX
taxlaw-9799	166	144	at	at	ADV
taxlaw-9799	166	145	least	least	ADV
taxlaw-9799	166	146	5	5	NUM
taxlaw-9799	166	147	%	%	NOUN
taxlaw-9799	166	148	of	of	ADP
taxlaw-9799	166	149	the	the	DET
taxlaw-9799	166	150	total	total	ADJ
taxlaw-9799	166	151	assets	asset	NOUN
taxlaw-9799	166	152	for	for	ADP
taxlaw-9799	166	153	each	each	PRON
taxlaw-9799	166	154	of	of	ADP
taxlaw-9799	166	155	parent	parent	NOUN
taxlaw-9799	166	156	and	and	CCONJ
taxlaw-9799	166	157	spinco.44	spinco.44	VERB
taxlaw-9799	166	158	the	the	DET
taxlaw-9799	166	159	2016	2016	NUM
taxlaw-9799	166	160	proposed	propose	VERB
taxlaw-9799	166	161	regulations	regulation	NOUN
taxlaw-9799	166	162	,	,	PUNCT
taxlaw-9799	166	163	however	however	ADV
taxlaw-9799	166	164	,	,	PUNCT
taxlaw-9799	166	165	today	today	NOUN
taxlaw-9799	166	166	serve	serve	VERB
taxlaw-9799	166	167	only	only	ADV
taxlaw-9799	166	168	as	as	ADP
taxlaw-9799	166	169	guidance	guidance	NOUN
taxlaw-9799	166	170	because	because	SCONJ
taxlaw-9799	166	171	they	they	PRON
taxlaw-9799	166	172	were	be	AUX
taxlaw-9799	166	173	never	never	ADV
taxlaw-9799	166	174	finalized	finalize	VERB
taxlaw-9799	166	175	and	and	CCONJ
taxlaw-9799	166	176	therefore	therefore	ADV
taxlaw-9799	166	177	expired	expire	VERB
taxlaw-9799	166	178	after	after	ADP
taxlaw-9799	166	179	three	three	NUM
taxlaw-9799	166	180	years.45	years.45	NOUN
taxlaw-9799	166	181	but	but	CCONJ
taxlaw-9799	166	182	in	in	ADP
taxlaw-9799	166	183	revenue	revenue	NOUN
taxlaw-9799	166	184	procedures	procedure	NOUN
taxlaw-9799	166	185	over	over	ADP
taxlaw-9799	166	186	the	the	DET
taxlaw-9799	166	187	past	past	ADJ
taxlaw-9799	166	188	few	few	ADJ
taxlaw-9799	166	189	decades	decade	NOUN
taxlaw-9799	166	190	,	,	PUNCT
taxlaw-9799	166	191	including	include	VERB
taxlaw-9799	166	192	revenue	revenue	NOUN
taxlaw-9799	166	193	procedure	procedure	NOUN
taxlaw-9799	166	194	2021	2021	NUM
taxlaw-9799	166	195	-	-	SYM
taxlaw-9799	166	196	3	3	NUM
taxlaw-9799	166	197	,	,	PUNCT
taxlaw-9799	166	198	the	the	DET
taxlaw-9799	166	199	i.r.s	i.r.s	NOUN
taxlaw-9799	166	200	.	.	PUNCT
taxlaw-9799	166	201	has	have	AUX
taxlaw-9799	166	202	expressed	express	VERB
taxlaw-9799	166	203	discomfort	discomfort	NOUN
taxlaw-9799	166	204	with	with	ADP
taxlaw-9799	166	205	spin	spin	NOUN
taxlaw-9799	166	206	-	-	PUNCT
taxlaw-9799	166	207	off	off	ADP
taxlaw-9799	166	208	transactions	transaction	NOUN
taxlaw-9799	166	209	where	where	SCONJ
taxlaw-9799	166	210	the	the	DET
taxlaw-9799	166	211	fair	fair	ADJ
taxlaw-9799	166	212	market	market	NOUN
taxlaw-9799	166	213	value	value	NOUN
taxlaw-9799	166	214	of	of	ADP
taxlaw-9799	166	215	the	the	DET
taxlaw-9799	166	216	trade	trade	NOUN
taxlaw-9799	166	217	or	or	CCONJ
taxlaw-9799	166	218	business	business	NOUN
taxlaw-9799	166	219	on	on	ADP
taxlaw-9799	166	220	which	which	PRON
taxlaw-9799	166	221	the	the	DET
taxlaw-9799	166	222	distributing	distribute	VERB
taxlaw-9799	166	223	corporation	corporation	NOUN
taxlaw-9799	166	224	relies	rely	VERB
taxlaw-9799	166	225	to	to	PART
taxlaw-9799	166	226	satisfy	satisfy	VERB
taxlaw-9799	166	227	the	the	DET
taxlaw-9799	166	228	active	active	ADJ
taxlaw-9799	166	229	trade	trade	NOUN
taxlaw-9799	166	230	or	or	CCONJ
taxlaw-9799	166	231	business	business	NOUN
taxlaw-9799	166	232	requirement	requirement	NOUN
taxlaw-9799	166	233	is	be	AUX
taxlaw-9799	166	234	less	less	ADJ
taxlaw-9799	166	235	than	than	ADP
taxlaw-9799	166	236	5	5	NUM
taxlaw-9799	166	237	%	%	NOUN
taxlaw-9799	166	238	of	of	ADP
taxlaw-9799	166	239	the	the	DET
taxlaw-9799	166	240	fair	fair	ADJ
taxlaw-9799	166	241	market	market	NOUN
taxlaw-9799	166	242	value	value	NOUN
taxlaw-9799	166	243	of	of	ADP
taxlaw-9799	166	244	the	the	DET
taxlaw-9799	166	245	total	total	ADJ
taxlaw-9799	166	246	gross	gross	ADJ
taxlaw-9799	166	247	assets	asset	NOUN
taxlaw-9799	166	248	of	of	ADP
taxlaw-9799	166	249	the	the	DET
taxlaw-9799	166	250	corporation.46	corporation.46	NOUN
taxlaw-9799	166	251	the	the	DET
taxlaw-9799	166	252	active	active	ADJ
taxlaw-9799	166	253	conduct	conduct	NOUN
taxlaw-9799	166	254	of	of	ADP
taxlaw-9799	166	255	a	a	DET
taxlaw-9799	166	256	trade	trade	NOUN
taxlaw-9799	166	257	or	or	CCONJ
taxlaw-9799	166	258	business	business	NOUN
taxlaw-9799	166	259	provision	provision	NOUN
taxlaw-9799	166	260	helps	help	VERB
taxlaw-9799	166	261	to	to	PART
taxlaw-9799	166	262	ensure	ensure	VERB
taxlaw-9799	166	263	that	that	SCONJ
taxlaw-9799	166	264	the	the	DET
taxlaw-9799	166	265	spin	spin	NOUN
taxlaw-9799	166	266	-	-	PUNCT
taxlaw-9799	166	267	off	off	NOUN
taxlaw-9799	166	268	is	be	AUX
taxlaw-9799	166	269	not	not	PART
taxlaw-9799	166	270	used	use	VERB
taxlaw-9799	166	271	as	as	ADP
taxlaw-9799	166	272	a	a	DET
taxlaw-9799	166	273	vehicle	vehicle	NOUN
taxlaw-9799	166	274	to	to	PART
taxlaw-9799	166	275	disguise	disguise	VERB
taxlaw-9799	166	276	a	a	DET
taxlaw-9799	166	277	dividend	dividend	NOUN
taxlaw-9799	166	278	distribution	distribution	NOUN
taxlaw-9799	166	279	or	or	CCONJ
taxlaw-9799	166	280	subsidiary	subsidiary	NOUN
taxlaw-9799	166	281	sale	sale	NOUN
taxlaw-9799	166	282	.	.	PUNCT
taxlaw-9799	167	1	much	much	ADV
taxlaw-9799	167	2	like	like	ADP
taxlaw-9799	167	3	the	the	DET
taxlaw-9799	167	4	device	device	NOUN
taxlaw-9799	167	5	requirement	requirement	NOUN
taxlaw-9799	167	6	discussed	discuss	VERB
taxlaw-9799	167	7	below	below	ADV
taxlaw-9799	167	8	,	,	PUNCT
taxlaw-9799	167	9	its	its	PRON
taxlaw-9799	167	10	purpose	purpose	NOUN
taxlaw-9799	167	11	is	be	AUX
taxlaw-9799	167	12	to	to	PART
taxlaw-9799	167	13	prevent	prevent	VERB
taxlaw-9799	167	14	the	the	DET
taxlaw-9799	167	15	use	use	NOUN
taxlaw-9799	167	16	of	of	ADP
taxlaw-9799	167	17	a	a	DET
taxlaw-9799	167	18	spin	spin	NOUN
taxlaw-9799	167	19	-	-	PUNCT
taxlaw-9799	167	20	off	off	NOUN
taxlaw-9799	167	21	as	as	ADP
taxlaw-9799	167	22	a	a	DET
taxlaw-9799	167	23	mechanism	mechanism	NOUN
taxlaw-9799	167	24	for	for	ADP
taxlaw-9799	167	25	distributing	distribute	VERB
taxlaw-9799	167	26	excess	excess	ADJ
taxlaw-9799	167	27	cash	cash	NOUN
taxlaw-9799	167	28	as	as	ADP
taxlaw-9799	167	29	a	a	DET
taxlaw-9799	167	30	dividend	dividend	NOUN
taxlaw-9799	167	31	to	to	ADP
taxlaw-9799	167	32	parent	parent	NOUN
taxlaw-9799	167	33	shareholders	shareholder	NOUN
taxlaw-9799	167	34	.	.	PUNCT
taxlaw-9799	168	1	a	a	DET
taxlaw-9799	168	2	low	low	ADJ
taxlaw-9799	168	3	percentage	percentage	NOUN
taxlaw-9799	168	4	of	of	ADP
taxlaw-9799	168	5	business	business	NOUN
taxlaw-9799	168	6	assets	asset	NOUN
taxlaw-9799	168	7	may	may	AUX
taxlaw-9799	168	8	be	be	AUX
taxlaw-9799	168	9	evidence	evidence	NOUN
taxlaw-9799	168	10	of	of	ADP
taxlaw-9799	168	11	an	an	DET
taxlaw-9799	168	12	abusive	abusive	ADJ
taxlaw-9799	168	13	transaction	transaction	NOUN
taxlaw-9799	168	14	in	in	ADP
taxlaw-9799	168	15	which	which	PRON
taxlaw-9799	168	16	the	the	DET
taxlaw-9799	168	17	spin	spin	NOUN
taxlaw-9799	168	18	-	-	PUNCT
taxlaw-9799	168	19	off	off	NOUN
taxlaw-9799	168	20	is	be	AUX
taxlaw-9799	168	21	being	be	AUX
taxlaw-9799	168	22	used	use	VERB
taxlaw-9799	168	23	as	as	ADP
taxlaw-9799	168	24	a	a	DET
taxlaw-9799	168	25	device	device	NOUN
taxlaw-9799	168	26	to	to	PART
taxlaw-9799	168	27	distribute	distribute	VERB
taxlaw-9799	168	28	earnings	earning	NOUN
taxlaw-9799	168	29	and	and	CCONJ
taxlaw-9799	168	30	profits	profit	NOUN
taxlaw-9799	168	31	.	.	PUNCT
taxlaw-9799	169	1	unlike	unlike	ADP
taxlaw-9799	169	2	the	the	DET
taxlaw-9799	169	3	corporate	corporate	ADJ
taxlaw-9799	169	4	business	business	NOUN
taxlaw-9799	169	5	purpose	purpose	NOUN
taxlaw-9799	169	6	requirement	requirement	NOUN
taxlaw-9799	169	7	,	,	PUNCT
taxlaw-9799	169	8	the	the	DET
taxlaw-9799	169	9	active	active	ADJ
taxlaw-9799	169	10	trade	trade	NOUN
taxlaw-9799	169	11	or	or	CCONJ
taxlaw-9799	169	12	business	business	NOUN
taxlaw-9799	169	13	requirement	requirement	NOUN
taxlaw-9799	169	14	can	can	AUX
taxlaw-9799	169	15	be	be	AUX
taxlaw-9799	169	16	a	a	DET
taxlaw-9799	169	17	difficult	difficult	ADJ
taxlaw-9799	169	18	hurdle	hurdle	NOUN
taxlaw-9799	169	19	to	to	PART
taxlaw-9799	169	20	overcome	overcome	VERB
taxlaw-9799	169	21	,	,	PUNCT
taxlaw-9799	169	22	particularly	particularly	ADV
taxlaw-9799	169	23	in	in	ADP
taxlaw-9799	169	24	light	light	NOUN
taxlaw-9799	169	25	of	of	ADP
taxlaw-9799	169	26	the	the	DET
taxlaw-9799	169	27	2016	2016	NUM
taxlaw-9799	169	28	proposed	propose	VERB
taxlaw-9799	169	29	regulations	regulation	NOUN
taxlaw-9799	169	30	and	and	CCONJ
taxlaw-9799	169	31	revenue	revenue	NOUN
taxlaw-9799	169	32	procedure	procedure	NOUN
taxlaw-9799	169	33	2021	2021	NUM
taxlaw-9799	169	34	-	-	SYM
taxlaw-9799	169	35	3	3	NUM
taxlaw-9799	169	36	.	.	PUNCT
taxlaw-9799	170	1	although	although	SCONJ
taxlaw-9799	170	2	expired	expire	VERB
taxlaw-9799	170	3	proposed	propose	VERB
taxlaw-9799	170	4	regulations	regulation	NOUN
taxlaw-9799	170	5	are	be	AUX
taxlaw-9799	170	6	technically	technically	ADV
taxlaw-9799	170	7	not	not	PART
taxlaw-9799	170	8	authoritative	authoritative	ADJ
taxlaw-9799	170	9	—	—	PUNCT
taxlaw-9799	170	10	and	and	CCONJ
taxlaw-9799	170	11	although	although	SCONJ
taxlaw-9799	170	12	revenue	revenue	NOUN
taxlaw-9799	170	13	procedures	procedure	NOUN
taxlaw-9799	170	14	are	be	AUX
taxlaw-9799	170	15	low	low	ADJ
taxlaw-9799	170	16	-	-	PUNCT
taxlaw-9799	170	17	level	level	NOUN
taxlaw-9799	170	18	guidance	guidance	NOUN
taxlaw-9799	170	19	—	—	PUNCT
taxlaw-9799	170	20	both	both	PRON
taxlaw-9799	170	21	can	can	AUX
taxlaw-9799	170	22	still	still	ADV
taxlaw-9799	170	23	have	have	VERB
taxlaw-9799	170	24	an	an	DET
taxlaw-9799	170	25	impact	impact	NOUN
taxlaw-9799	170	26	on	on	ADP
taxlaw-9799	170	27	tax	tax	NOUN
taxlaw-9799	170	28	practitioners	practitioner	NOUN
taxlaw-9799	170	29	’	'	PUNCT
taxlaw-9799	170	30	advice	advice	NOUN
taxlaw-9799	170	31	and	and	CCONJ
taxlaw-9799	170	32	,	,	PUNCT
taxlaw-9799	170	33	therefore	therefore	ADV
taxlaw-9799	170	34	,	,	PUNCT
taxlaw-9799	170	35	on	on	ADP
taxlaw-9799	170	36	corporate	corporate	ADJ
taxlaw-9799	170	37	behavior	behavior	NOUN
taxlaw-9799	170	38	.	.	PUNCT
taxlaw-9799	171	1	a	a	DET
taxlaw-9799	171	2	conglomerate	conglomerate	NOUN
taxlaw-9799	171	3	wishing	wish	VERB
taxlaw-9799	171	4	to	to	PART
taxlaw-9799	171	5	spin	spin	VERB
taxlaw-9799	171	6	off	off	ADP
taxlaw-9799	171	7	a	a	DET
taxlaw-9799	171	8	subsidiary	subsidiary	NOUN
taxlaw-9799	171	9	combining	combine	VERB
taxlaw-9799	171	10	nonqualifying	nonqualifying	NOUN
taxlaw-9799	171	11	holdings	holding	NOUN
taxlaw-9799	171	12	for	for	ADP
taxlaw-9799	171	13	investment	investment	NOUN
taxlaw-9799	171	14	purposes	purpose	NOUN
taxlaw-9799	171	15	will	will	AUX
taxlaw-9799	171	16	need	need	VERB
taxlaw-9799	171	17	to	to	PART
taxlaw-9799	171	18	ensure	ensure	VERB
taxlaw-9799	171	19	that	that	SCONJ
taxlaw-9799	171	20	the	the	DET
taxlaw-9799	171	21	size	size	NOUN
taxlaw-9799	171	22	of	of	ADP
taxlaw-9799	171	23	the	the	DET
taxlaw-9799	171	24	active	active	ADJ
taxlaw-9799	171	25	trade	trade	NOUN
taxlaw-9799	171	26	or	or	CCONJ
taxlaw-9799	171	27	business	business	NOUN
taxlaw-9799	171	28	that	that	PRON
taxlaw-9799	171	29	it	it	PRON
taxlaw-9799	171	30	spins	spin	VERB
taxlaw-9799	171	31	off	off	ADP
taxlaw-9799	171	32	together	together	ADV
taxlaw-9799	171	33	with	with	ADP
taxlaw-9799	171	34	the	the	DET
taxlaw-9799	171	35	holdings	holding	NOUN
taxlaw-9799	171	36	exceeds	exceed	VERB
taxlaw-9799	171	37	5	5	NUM
taxlaw-9799	171	38	%	%	NOUN
taxlaw-9799	171	39	of	of	ADP
taxlaw-9799	171	40	spinco	spinco	NOUN
taxlaw-9799	171	41	.	.	PUNCT
taxlaw-9799	172	1	thus	thus	ADV
taxlaw-9799	172	2	,	,	PUNCT
taxlaw-9799	172	3	this	this	DET
taxlaw-9799	172	4	rule	rule	NOUN
taxlaw-9799	172	5	may	may	AUX
taxlaw-9799	172	6	preclude	preclude	VERB
taxlaw-9799	172	7	conglomerates	conglomerate	NOUN
taxlaw-9799	172	8	from	from	ADP
taxlaw-9799	172	9	offloading	offload	VERB
taxlaw-9799	172	10	large	large	ADJ
taxlaw-9799	172	11	holdings	holding	NOUN
taxlaw-9799	172	12	of	of	ADP
taxlaw-9799	172	13	appreciated	appreciated	ADJ
taxlaw-9799	172	14	stock	stock	NOUN
taxlaw-9799	172	15	because	because	SCONJ
taxlaw-9799	172	16	the	the	PRON
taxlaw-9799	172	17	larger	large	ADJ
taxlaw-9799	172	18	the	the	DET
taxlaw-9799	172	19	stake	stake	NOUN
taxlaw-9799	172	20	in	in	ADP
taxlaw-9799	172	21	passive	passive	ADJ
taxlaw-9799	172	22	holdings	holding	NOUN
taxlaw-9799	172	23	,	,	PUNCT
taxlaw-9799	172	24	the	the	PRON
taxlaw-9799	172	25	larger	large	ADJ
taxlaw-9799	172	26	the	the	DET
taxlaw-9799	172	27	active	active	ADJ
taxlaw-9799	172	28	trade	trade	NOUN
taxlaw-9799	172	29	or	or	CCONJ
taxlaw-9799	172	30	business	business	NOUN
taxlaw-9799	172	31	must	must	AUX
taxlaw-9799	172	32	be	be	AUX
taxlaw-9799	172	33	39	39	NUM
taxlaw-9799	172	34	treas	trea	NOUN
taxlaw-9799	172	35	.	.	PUNCT
taxlaw-9799	173	1	reg	reg	PROPN
taxlaw-9799	173	2	.	.	PUNCT
taxlaw-9799	174	1	§	§	PROPN
taxlaw-9799	174	2	1.355	1.355	NUM
taxlaw-9799	174	3	-	-	SYM
taxlaw-9799	174	4	3(a)(i	3(a)(i	NUM
taxlaw-9799	174	5	)	)	PUNCT
taxlaw-9799	174	6	.	.	PUNCT
taxlaw-9799	175	1	40	40	NUM
taxlaw-9799	175	2	treas	trea	NOUN
taxlaw-9799	175	3	.	.	PUNCT
taxlaw-9799	176	1	reg	reg	PROPN
taxlaw-9799	176	2	.	.	PUNCT
taxlaw-9799	177	1	§	§	PROPN
taxlaw-9799	177	2	1.355	1.355	NUM
taxlaw-9799	177	3	-	-	SYM
taxlaw-9799	177	4	3(b)(iv)(3	3(b)(iv)(3	NUM
taxlaw-9799	177	5	)	)	PUNCT
taxlaw-9799	177	6	.	.	PUNCT
taxlaw-9799	178	1	41	41	NUM
taxlaw-9799	178	2	see	see	VERB
taxlaw-9799	178	3	treas	treas	PROPN
taxlaw-9799	178	4	.	.	PUNCT
taxlaw-9799	179	1	reg	reg	PROPN
taxlaw-9799	179	2	.	.	PUNCT
taxlaw-9799	180	1	§	§	PROPN
taxlaw-9799	180	2	1.355	1.355	NUM
taxlaw-9799	180	3	-	-	SYM
taxlaw-9799	180	4	3(b)(2	3(b)(2	NUM
taxlaw-9799	180	5	)	)	PUNCT
taxlaw-9799	180	6	.	.	PUNCT
taxlaw-9799	181	1	42	42	NUM
taxlaw-9799	181	2	see	see	VERB
taxlaw-9799	181	3	i	i	PRON
taxlaw-9799	181	4	d.	d.	PROPN
taxlaw-9799	181	5	43	43	NUM
taxlaw-9799	182	1	treas	treas	PROPN
taxlaw-9799	182	2	.	.	PUNCT
taxlaw-9799	183	1	reg	reg	PROPN
taxlaw-9799	183	2	.	.	PUNCT
taxlaw-9799	184	1	§	§	PROPN
taxlaw-9799	184	2	1.355	1.355	NUM
taxlaw-9799	184	3	-	-	SYM
taxlaw-9799	184	4	3(b)(2)(iv	3(b)(2)(iv	NUM
taxlaw-9799	184	5	)	)	PUNCT
taxlaw-9799	184	6	.	.	PUNCT
taxlaw-9799	185	1	44	44	NUM
taxlaw-9799	185	2	see	see	VERB
taxlaw-9799	185	3	prop	prop	NOUN
taxlaw-9799	185	4	.	.	PUNCT
taxlaw-9799	186	1	treas	treas	PROPN
taxlaw-9799	186	2	.	.	PUNCT
taxlaw-9799	187	1	reg	reg	PROPN
taxlaw-9799	187	2	.	.	PUNCT
taxlaw-9799	188	1	§	§	PROPN
taxlaw-9799	188	2	1.355	1.355	NUM
taxlaw-9799	188	3	-	-	SYM
taxlaw-9799	188	4	9	9	NUM
taxlaw-9799	188	5	,	,	PUNCT
taxlaw-9799	188	6	81	81	NUM
taxlaw-9799	188	7	fed	feed	VERB
taxlaw-9799	188	8	.	.	PUNCT
taxlaw-9799	189	1	reg	reg	PROPN
taxlaw-9799	189	2	.	.	PUNCT
taxlaw-9799	190	1	46004	46004	NUM
taxlaw-9799	190	2	(	(	PUNCT
taxlaw-9799	190	3	july	july	PROPN
taxlaw-9799	190	4	15	15	NUM
taxlaw-9799	190	5	,	,	PUNCT
taxlaw-9799	190	6	2016	2016	NUM
taxlaw-9799	190	7	)	)	PUNCT
taxlaw-9799	190	8	.	.	PUNCT
taxlaw-9799	191	1	45	45	NUM
taxlaw-9799	191	2	the	the	DET
taxlaw-9799	191	3	i.r.s	i.r.s	NOUN
taxlaw-9799	191	4	.	.	PUNCT
taxlaw-9799	192	1	may	may	AUX
taxlaw-9799	192	2	not	not	PART
taxlaw-9799	192	3	challenge	challenge	VERB
taxlaw-9799	192	4	a	a	DET
taxlaw-9799	192	5	transaction	transaction	NOUN
taxlaw-9799	192	6	solely	solely	ADV
taxlaw-9799	192	7	based	base	VERB
taxlaw-9799	192	8	on	on	ADP
taxlaw-9799	192	9	guidance	guidance	NOUN
taxlaw-9799	192	10	issued	issue	VERB
taxlaw-9799	192	11	in	in	ADP
taxlaw-9799	192	12	proposed	propose	VERB
taxlaw-9799	192	13	regulations	regulation	NOUN
taxlaw-9799	192	14	.	.	PUNCT
taxlaw-9799	193	1	46	46	NUM
taxlaw-9799	193	2	see	see	VERB
taxlaw-9799	193	3	e.g.	e.g.	ADV
taxlaw-9799	193	4	,	,	PUNCT
taxlaw-9799	193	5	rev	rev	PROPN
taxlaw-9799	193	6	.	.	PROPN
taxlaw-9799	193	7	proc	proc	PROPN
taxlaw-9799	193	8	.	.	PUNCT
taxlaw-9799	193	9	2021	2021	NUM
taxlaw-9799	193	10	-	-	SYM
taxlaw-9799	193	11	3	3	NUM
taxlaw-9799	193	12	,	,	PUNCT
taxlaw-9799	193	13	2021	2021	NUM
taxlaw-9799	193	14	-	-	SYM
taxlaw-9799	193	15	1	1	NUM
taxlaw-9799	193	16	i.r.b	i.r.b	NOUN
taxlaw-9799	193	17	.	.	PUNCT
taxlaw-9799	193	18	140	140	NUM
taxlaw-9799	193	19	;	;	PUNCT
taxlaw-9799	193	20	rev	rev	PROPN
taxlaw-9799	193	21	.	.	PROPN
taxlaw-9799	193	22	proc	proc	PROPN
taxlaw-9799	193	23	.	.	PUNCT
taxlaw-9799	193	24	2003	2003	NUM
taxlaw-9799	193	25	-	-	SYM
taxlaw-9799	193	26	48	48	NUM
taxlaw-9799	193	27	,	,	PUNCT
taxlaw-9799	193	28	2003	2003	NUM
taxlaw-9799	193	29	-	-	SYM
taxlaw-9799	193	30	2	2	NUM
taxlaw-9799	193	31	c.b	c.b	PROPN
taxlaw-9799	193	32	.	.	PROPN
taxlaw-9799	193	33	86	86	NUM
taxlaw-9799	193	34	.	.	X
taxlaw-9799	194	1	175	175	NUM
taxlaw-9799	194	2	columbia	columbia	PROPN
taxlaw-9799	194	3	journal	journal	PROPN
taxlaw-9799	194	4	of	of	ADP
taxlaw-9799	194	5	tax	tax	NOUN
taxlaw-9799	194	6	law	law	NOUN
taxlaw-9799	195	1	[	[	X
taxlaw-9799	195	2	vol	vol	NOUN
taxlaw-9799	195	3	:	:	PUNCT
taxlaw-9799	195	4	13:2	13:2	NUM
taxlaw-9799	195	5	that	that	PRON
taxlaw-9799	195	6	accompanies	accompany	VERB
taxlaw-9799	195	7	the	the	DET
taxlaw-9799	195	8	stake	stake	NOUN
taxlaw-9799	195	9	in	in	ADP
taxlaw-9799	195	10	the	the	DET
taxlaw-9799	195	11	spin	spin	NOUN
taxlaw-9799	195	12	-	-	PUNCT
taxlaw-9799	195	13	off	off	NOUN
taxlaw-9799	195	14	.	.	PUNCT
taxlaw-9799	196	1	however	however	ADV
taxlaw-9799	196	2	,	,	PUNCT
taxlaw-9799	196	3	through	through	ADP
taxlaw-9799	196	4	an	an	DET
taxlaw-9799	196	5	internal	internal	ADJ
taxlaw-9799	196	6	corporate	corporate	ADJ
taxlaw-9799	196	7	restructuring	restructuring	NOUN
taxlaw-9799	196	8	in	in	ADP
taxlaw-9799	196	9	anticipation	anticipation	NOUN
taxlaw-9799	196	10	of	of	ADP
taxlaw-9799	196	11	a	a	DET
taxlaw-9799	196	12	spin	spin	NOUN
taxlaw-9799	196	13	-	-	PUNCT
taxlaw-9799	196	14	off	off	NOUN
taxlaw-9799	196	15	,	,	PUNCT
taxlaw-9799	196	16	a	a	DET
taxlaw-9799	196	17	conglomerate	conglomerate	NOUN
taxlaw-9799	196	18	can	can	AUX
taxlaw-9799	196	19	likely	likely	ADV
taxlaw-9799	196	20	customize	customize	VERB
taxlaw-9799	196	21	the	the	DET
taxlaw-9799	196	22	spinco	spinco	NOUN
taxlaw-9799	196	23	to	to	PART
taxlaw-9799	196	24	ensure	ensure	VERB
taxlaw-9799	196	25	that	that	SCONJ
taxlaw-9799	196	26	the	the	DET
taxlaw-9799	196	27	transaction	transaction	NOUN
taxlaw-9799	196	28	satisfies	satisfy	VERB
taxlaw-9799	196	29	the	the	DET
taxlaw-9799	196	30	5	5	NUM
taxlaw-9799	196	31	%	%	NOUN
taxlaw-9799	196	32	requirement	requirement	NOUN
taxlaw-9799	196	33	.	.	PUNCT
taxlaw-9799	197	1	as	as	SCONJ
taxlaw-9799	197	2	i	i	PRON
taxlaw-9799	197	3	discuss	discuss	VERB
taxlaw-9799	197	4	in	in	ADP
taxlaw-9799	197	5	parts	part	NOUN
taxlaw-9799	197	6	iii	iii	PROPN
taxlaw-9799	197	7	and	and	CCONJ
taxlaw-9799	197	8	iv	iv	NUM
taxlaw-9799	197	9	,	,	PUNCT
taxlaw-9799	197	10	because	because	SCONJ
taxlaw-9799	197	11	conglomerates	conglomerate	NOUN
taxlaw-9799	197	12	are	be	AUX
taxlaw-9799	197	13	by	by	ADP
taxlaw-9799	197	14	definition	definition	NOUN
taxlaw-9799	197	15	large	large	ADJ
taxlaw-9799	197	16	and	and	CCONJ
taxlaw-9799	197	17	consist	consist	VERB
taxlaw-9799	197	18	of	of	ADP
taxlaw-9799	197	19	numerous	numerous	ADJ
taxlaw-9799	197	20	business	business	NOUN
taxlaw-9799	197	21	units	unit	NOUN
taxlaw-9799	197	22	,	,	PUNCT
taxlaw-9799	197	23	finding	find	VERB
taxlaw-9799	197	24	an	an	DET
taxlaw-9799	197	25	active	active	ADJ
taxlaw-9799	197	26	business	business	NOUN
taxlaw-9799	197	27	unit	unit	NOUN
taxlaw-9799	197	28	to	to	PART
taxlaw-9799	197	29	spin	spin	VERB
taxlaw-9799	197	30	off	off	ADP
taxlaw-9799	197	31	together	together	ADV
taxlaw-9799	197	32	with	with	ADP
taxlaw-9799	197	33	large	large	ADJ
taxlaw-9799	197	34	passive	passive	ADJ
taxlaw-9799	197	35	shares	share	NOUN
taxlaw-9799	197	36	is	be	AUX
taxlaw-9799	197	37	usually	usually	ADV
taxlaw-9799	197	38	not	not	PART
taxlaw-9799	197	39	overly	overly	ADV
taxlaw-9799	197	40	cumbersome	cumbersome	ADJ
taxlaw-9799	197	41	or	or	CCONJ
taxlaw-9799	197	42	prohibitive	prohibitive	ADJ
taxlaw-9799	197	43	.	.	PUNCT
taxlaw-9799	198	1	c.	c.	PROPN
taxlaw-9799	198	2	nondevice	nondevice	PROPN
taxlaw-9799	198	3	tax	tax	NOUN
taxlaw-9799	198	4	-	-	PUNCT
taxlaw-9799	198	5	free	free	ADJ
taxlaw-9799	198	6	treatment	treatment	NOUN
taxlaw-9799	198	7	under	under	ADP
taxlaw-9799	198	8	section	section	NOUN
taxlaw-9799	198	9	355	355	NUM
taxlaw-9799	198	10	is	be	AUX
taxlaw-9799	198	11	not	not	PART
taxlaw-9799	198	12	afforded	afford	VERB
taxlaw-9799	198	13	to	to	ADP
taxlaw-9799	198	14	any	any	DET
taxlaw-9799	198	15	“	"	PUNCT
taxlaw-9799	198	16	transaction	transaction	NOUN
taxlaw-9799	198	17	used	use	VERB
taxlaw-9799	198	18	principally	principally	ADV
taxlaw-9799	198	19	as	as	ADP
taxlaw-9799	198	20	a	a	DET
taxlaw-9799	198	21	device	device	NOUN
taxlaw-9799	198	22	for	for	ADP
taxlaw-9799	198	23	the	the	DET
taxlaw-9799	198	24	distribution	distribution	NOUN
taxlaw-9799	198	25	of	of	ADP
taxlaw-9799	198	26	the	the	DET
taxlaw-9799	198	27	earnings	earning	NOUN
taxlaw-9799	198	28	and	and	CCONJ
taxlaw-9799	198	29	profits	profit	NOUN
taxlaw-9799	198	30	of	of	ADP
taxlaw-9799	198	31	the	the	DET
taxlaw-9799	198	32	distributing	distribute	VERB
taxlaw-9799	198	33	corporation	corporation	NOUN
taxlaw-9799	198	34	,	,	PUNCT
taxlaw-9799	198	35	the	the	DET
taxlaw-9799	198	36	controlled	control	VERB
taxlaw-9799	198	37	corporation	corporation	NOUN
taxlaw-9799	198	38	,	,	PUNCT
taxlaw-9799	198	39	or	or	CCONJ
taxlaw-9799	198	40	both	both	PRON
taxlaw-9799	198	41	.	.	PUNCT
taxlaw-9799	199	1	”47	”47	ADJ
taxlaw-9799	199	2	factors	factor	NOUN
taxlaw-9799	199	3	that	that	PRON
taxlaw-9799	199	4	constitute	constitute	VERB
taxlaw-9799	199	5	evidence	evidence	NOUN
taxlaw-9799	199	6	of	of	ADP
taxlaw-9799	199	7	device	device	NOUN
taxlaw-9799	199	8	include	include	VERB
taxlaw-9799	199	9	:	:	PUNCT
taxlaw-9799	199	10	a	a	DET
taxlaw-9799	199	11	pro	pro	ADJ
taxlaw-9799	199	12	rata	rata	ADJ
taxlaw-9799	199	13	distribution	distribution	NOUN
taxlaw-9799	199	14	among	among	ADP
taxlaw-9799	199	15	the	the	DET
taxlaw-9799	199	16	shareholders	shareholder	NOUN
taxlaw-9799	199	17	of	of	ADP
taxlaw-9799	199	18	the	the	DET
taxlaw-9799	199	19	distributing	distribute	VERB
taxlaw-9799	199	20	corporation,48	corporation,48	NOUN
taxlaw-9799	199	21	a	a	DET
taxlaw-9799	199	22	subsequent	subsequent	ADJ
taxlaw-9799	199	23	sale	sale	NOUN
taxlaw-9799	199	24	or	or	CCONJ
taxlaw-9799	199	25	exchange	exchange	NOUN
taxlaw-9799	199	26	of	of	ADP
taxlaw-9799	199	27	stock	stock	NOUN
taxlaw-9799	199	28	(	(	PUNCT
taxlaw-9799	199	29	“	"	PUNCT
taxlaw-9799	199	30	the	the	PRON
taxlaw-9799	199	31	greater	great	ADJ
taxlaw-9799	199	32	the	the	DET
taxlaw-9799	199	33	percentage	percentage	NOUN
taxlaw-9799	199	34	of	of	ADP
taxlaw-9799	199	35	the	the	DET
taxlaw-9799	199	36	stock	stock	NOUN
taxlaw-9799	199	37	sold	sell	VERB
taxlaw-9799	199	38	or	or	CCONJ
taxlaw-9799	199	39	exchanged	exchange	VERB
taxlaw-9799	199	40	after	after	ADP
taxlaw-9799	199	41	the	the	DET
taxlaw-9799	199	42	distribution	distribution	NOUN
taxlaw-9799	199	43	,	,	PUNCT
taxlaw-9799	199	44	the	the	PRON
taxlaw-9799	199	45	stronger	strong	ADJ
taxlaw-9799	199	46	the	the	DET
taxlaw-9799	199	47	evidence	evidence	NOUN
taxlaw-9799	199	48	of	of	ADP
taxlaw-9799	199	49	device	device	NOUN
taxlaw-9799	199	50	.	.	PUNCT
taxlaw-9799	199	51	.	.	PUNCT
taxlaw-9799	199	52	.	.	PUNCT
taxlaw-9799	200	1	the	the	DET
taxlaw-9799	200	2	shorter	short	ADJ
taxlaw-9799	200	3	the	the	DET
taxlaw-9799	200	4	period	period	NOUN
taxlaw-9799	200	5	of	of	ADP
taxlaw-9799	200	6	time	time	NOUN
taxlaw-9799	200	7	between	between	ADP
taxlaw-9799	200	8	the	the	DET
taxlaw-9799	200	9	distribution	distribution	NOUN
taxlaw-9799	200	10	and	and	CCONJ
taxlaw-9799	200	11	the	the	DET
taxlaw-9799	200	12	sale	sale	NOUN
taxlaw-9799	200	13	or	or	CCONJ
taxlaw-9799	200	14	exchange	exchange	NOUN
taxlaw-9799	200	15	,	,	PUNCT
taxlaw-9799	200	16	the	the	PRON
taxlaw-9799	200	17	stronger	strong	ADJ
taxlaw-9799	200	18	the	the	DET
taxlaw-9799	200	19	evidence	evidence	NOUN
taxlaw-9799	200	20	of	of	ADP
taxlaw-9799	200	21	device”),49	device”),49	NOUN
taxlaw-9799	200	22	and	and	CCONJ
taxlaw-9799	200	23	the	the	DET
taxlaw-9799	200	24	nature	nature	NOUN
taxlaw-9799	200	25	,	,	PUNCT
taxlaw-9799	200	26	kind	kind	ADJ
taxlaw-9799	200	27	,	,	PUNCT
taxlaw-9799	200	28	amount	amount	NOUN
taxlaw-9799	200	29	,	,	PUNCT
taxlaw-9799	200	30	and	and	CCONJ
taxlaw-9799	200	31	use	use	NOUN
taxlaw-9799	200	32	of	of	ADP
taxlaw-9799	200	33	the	the	DET
taxlaw-9799	200	34	assets	asset	NOUN
taxlaw-9799	200	35	(	(	PUNCT
taxlaw-9799	200	36	for	for	ADP
taxlaw-9799	200	37	example	example	NOUN
taxlaw-9799	200	38	,	,	PUNCT
taxlaw-9799	200	39	a	a	DET
taxlaw-9799	200	40	high	high	ADJ
taxlaw-9799	200	41	ratio	ratio	NOUN
taxlaw-9799	200	42	of	of	ADP
taxlaw-9799	200	43	cash	cash	NOUN
taxlaw-9799	200	44	and	and	CCONJ
taxlaw-9799	200	45	other	other	ADJ
taxlaw-9799	200	46	liquid	liquid	ADJ
taxlaw-9799	200	47	assets	asset	NOUN
taxlaw-9799	200	48	not	not	PART
taxlaw-9799	200	49	related	relate	VERB
taxlaw-9799	200	50	to	to	ADP
taxlaw-9799	200	51	the	the	DET
taxlaw-9799	200	52	reasonable	reasonable	ADJ
taxlaw-9799	200	53	needs	need	NOUN
taxlaw-9799	200	54	of	of	ADP
taxlaw-9799	200	55	the	the	DET
taxlaw-9799	200	56	business	business	NOUN
taxlaw-9799	200	57	weighs	weigh	VERB
taxlaw-9799	200	58	in	in	ADP
taxlaw-9799	200	59	favor	favor	NOUN
taxlaw-9799	200	60	of	of	ADP
taxlaw-9799	200	61	device).50	device).50	PROPN
taxlaw-9799	200	62	on	on	ADP
taxlaw-9799	200	63	the	the	DET
taxlaw-9799	200	64	other	other	ADJ
taxlaw-9799	200	65	hand	hand	NOUN
taxlaw-9799	200	66	,	,	PUNCT
taxlaw-9799	200	67	factors	factor	NOUN
taxlaw-9799	200	68	weighing	weigh	VERB
taxlaw-9799	200	69	against	against	ADP
taxlaw-9799	200	70	a	a	DET
taxlaw-9799	200	71	finding	finding	NOUN
taxlaw-9799	200	72	of	of	ADP
taxlaw-9799	200	73	device	device	NOUN
taxlaw-9799	200	74	include	include	VERB
taxlaw-9799	200	75	a	a	DET
taxlaw-9799	200	76	strong	strong	ADJ
taxlaw-9799	200	77	corporate	corporate	ADJ
taxlaw-9799	200	78	business	business	NOUN
taxlaw-9799	200	79	purpose,51	purpose,51	NOUN
taxlaw-9799	200	80	the	the	DET
taxlaw-9799	200	81	extent	extent	NOUN
taxlaw-9799	200	82	to	to	PART
taxlaw-9799	200	83	which	which	PRON
taxlaw-9799	200	84	the	the	DET
taxlaw-9799	200	85	parent	parent	NOUN
taxlaw-9799	200	86	is	be	AUX
taxlaw-9799	200	87	a	a	DET
taxlaw-9799	200	88	widely	widely	ADV
taxlaw-9799	200	89	held	hold	VERB
taxlaw-9799	200	90	,	,	PUNCT
taxlaw-9799	200	91	publicly	publicly	ADV
taxlaw-9799	200	92	traded	trade	VERB
taxlaw-9799	200	93	company	company	NOUN
taxlaw-9799	200	94	(	(	PUNCT
taxlaw-9799	200	95	where	where	SCONJ
taxlaw-9799	200	96	a	a	DET
taxlaw-9799	200	97	corporation	corporation	NOUN
taxlaw-9799	200	98	is	be	AUX
taxlaw-9799	200	99	publicly	publicly	ADV
taxlaw-9799	200	100	traded	trade	VERB
taxlaw-9799	200	101	and	and	CCONJ
taxlaw-9799	200	102	has	have	VERB
taxlaw-9799	200	103	no	no	DET
taxlaw-9799	200	104	shareholder	shareholder	NOUN
taxlaw-9799	200	105	that	that	PRON
taxlaw-9799	200	106	is	be	AUX
taxlaw-9799	200	107	“	"	PUNCT
taxlaw-9799	200	108	the	the	DET
taxlaw-9799	200	109	beneficial	beneficial	ADJ
taxlaw-9799	200	110	owner	owner	NOUN
taxlaw-9799	200	111	of	of	ADP
taxlaw-9799	200	112	more	more	ADJ
taxlaw-9799	200	113	than	than	ADP
taxlaw-9799	200	114	five	five	NUM
taxlaw-9799	200	115	percent	percent	NOUN
taxlaw-9799	200	116	of	of	ADP
taxlaw-9799	200	117	any	any	DET
taxlaw-9799	200	118	class	class	NOUN
taxlaw-9799	200	119	of	of	ADP
taxlaw-9799	200	120	stock	stock	NOUN
taxlaw-9799	200	121	is	be	AUX
taxlaw-9799	200	122	evidence	evidence	NOUN
taxlaw-9799	200	123	of	of	ADP
taxlaw-9799	200	124	nondevice”),52	nondevice”),52	NOUN
taxlaw-9799	200	125	and	and	CCONJ
taxlaw-9799	200	126	the	the	DET
taxlaw-9799	200	127	“	"	PUNCT
taxlaw-9799	200	128	fact	fact	NOUN
taxlaw-9799	200	129	that	that	SCONJ
taxlaw-9799	200	130	the	the	DET
taxlaw-9799	200	131	stock	stock	NOUN
taxlaw-9799	200	132	of	of	ADP
taxlaw-9799	200	133	the	the	DET
taxlaw-9799	200	134	controlled	control	VERB
taxlaw-9799	200	135	corporation	corporation	NOUN
taxlaw-9799	200	136	is	be	AUX
taxlaw-9799	200	137	distributed	distribute	VERB
taxlaw-9799	200	138	to	to	ADP
taxlaw-9799	200	139	one	one	NUM
taxlaw-9799	200	140	or	or	CCONJ
taxlaw-9799	200	141	more	more	ADJ
taxlaw-9799	200	142	domestic	domestic	ADJ
taxlaw-9799	200	143	corporations	corporation	NOUN
taxlaw-9799	200	144	that	that	PRON
taxlaw-9799	200	145	,	,	PUNCT
taxlaw-9799	200	146	if	if	SCONJ
taxlaw-9799	200	147	section	section	NOUN
taxlaw-9799	200	148	355	355	NUM
taxlaw-9799	200	149	did	do	AUX
taxlaw-9799	200	150	not	not	PART
taxlaw-9799	200	151	apply	apply	VERB
taxlaw-9799	200	152	,	,	PUNCT
taxlaw-9799	200	153	would	would	AUX
taxlaw-9799	200	154	be	be	AUX
taxlaw-9799	200	155	entitled	entitle	VERB
taxlaw-9799	200	156	to	to	ADP
taxlaw-9799	200	157	a	a	DET
taxlaw-9799	200	158	[	[	X
taxlaw-9799	200	159	dividendsreceived	dividendsreceive	VERB
taxlaw-9799	200	160	]	]	PUNCT
taxlaw-9799	200	161	deduction	deduction	NOUN
taxlaw-9799	200	162	under	under	ADP
taxlaw-9799	200	163	section	section	NOUN
taxlaw-9799	200	164	243	243	NUM
taxlaw-9799	200	165	.	.	PUNCT
taxlaw-9799	200	166	.	.	PUNCT
taxlaw-9799	201	1	.	.	PUNCT
taxlaw-9799	202	1	is	be	AUX
taxlaw-9799	202	2	evidence	evidence	NOUN
taxlaw-9799	202	3	of	of	ADP
taxlaw-9799	202	4	nondevice	nondevice	NOUN
taxlaw-9799	202	5	.	.	PUNCT
taxlaw-9799	203	1	”53	”53	ADV
taxlaw-9799	203	2	moreover	moreover	ADV
taxlaw-9799	203	3	,	,	PUNCT
taxlaw-9799	203	4	if	if	SCONJ
taxlaw-9799	203	5	the	the	DET
taxlaw-9799	203	6	corporation	corporation	NOUN
taxlaw-9799	203	7	has	have	VERB
taxlaw-9799	203	8	no	no	DET
taxlaw-9799	203	9	earnings	earning	NOUN
taxlaw-9799	203	10	and	and	CCONJ
taxlaw-9799	203	11	profits	profit	NOUN
taxlaw-9799	203	12	to	to	PART
taxlaw-9799	203	13	bail	bail	VERB
taxlaw-9799	203	14	out	out	ADP
taxlaw-9799	203	15	in	in	ADP
taxlaw-9799	203	16	the	the	DET
taxlaw-9799	203	17	first	first	ADJ
taxlaw-9799	203	18	place	place	NOUN
taxlaw-9799	203	19	or	or	CCONJ
taxlaw-9799	203	20	if	if	SCONJ
taxlaw-9799	203	21	redemption	redemption	NOUN
taxlaw-9799	203	22	treatment	treatment	NOUN
taxlaw-9799	203	23	would	would	AUX
taxlaw-9799	203	24	apply	apply	VERB
taxlaw-9799	203	25	to	to	ADP
taxlaw-9799	203	26	the	the	DET
taxlaw-9799	203	27	transaction	transaction	NOUN
taxlaw-9799	203	28	,	,	PUNCT
taxlaw-9799	203	29	a	a	DET
taxlaw-9799	203	30	spin	spin	NOUN
taxlaw-9799	203	31	-	-	PUNCT
taxlaw-9799	203	32	off	off	NOUN
taxlaw-9799	203	33	is	be	AUX
taxlaw-9799	203	34	ordinarily	ordinarily	ADV
taxlaw-9799	203	35	not	not	PART
taxlaw-9799	203	36	deemed	deem	VERB
taxlaw-9799	203	37	to	to	PART
taxlaw-9799	203	38	be	be	AUX
taxlaw-9799	203	39	a	a	DET
taxlaw-9799	203	40	device	device	NOUN
taxlaw-9799	203	41	.	.	PUNCT
taxlaw-9799	204	1	the	the	DET
taxlaw-9799	204	2	primary	primary	ADJ
taxlaw-9799	204	3	policy	policy	NOUN
taxlaw-9799	204	4	reason	reason	NOUN
taxlaw-9799	204	5	for	for	ADP
taxlaw-9799	204	6	the	the	DET
taxlaw-9799	204	7	nondevice	nondevice	ADJ
taxlaw-9799	204	8	requirement	requirement	NOUN
taxlaw-9799	204	9	stems	stem	VERB
taxlaw-9799	204	10	from	from	ADP
taxlaw-9799	204	11	the	the	DET
taxlaw-9799	204	12	government	government	NOUN
taxlaw-9799	204	13	’s	’s	PART
taxlaw-9799	204	14	awareness	awareness	NOUN
taxlaw-9799	204	15	that	that	SCONJ
taxlaw-9799	204	16	,	,	PUNCT
taxlaw-9799	204	17	as	as	ADP
taxlaw-9799	204	18	in	in	ADP
taxlaw-9799	204	19	gregory	gregory	NOUN
taxlaw-9799	204	20	,	,	PUNCT
taxlaw-9799	204	21	“	"	PUNCT
taxlaw-9799	204	22	a	a	DET
taxlaw-9799	204	23	tax	tax	NOUN
taxlaw-9799	204	24	-	-	PUNCT
taxlaw-9799	204	25	free	free	ADJ
taxlaw-9799	204	26	distribution	distribution	NOUN
taxlaw-9799	204	27	of	of	ADP
taxlaw-9799	204	28	the	the	DET
taxlaw-9799	204	29	stock	stock	NOUN
taxlaw-9799	204	30	of	of	ADP
taxlaw-9799	204	31	a	a	DET
taxlaw-9799	204	32	controlled	control	VERB
taxlaw-9799	204	33	corporation	corporation	NOUN
taxlaw-9799	204	34	presents	present	VERB
taxlaw-9799	204	35	a	a	DET
taxlaw-9799	204	36	potential	potential	NOUN
taxlaw-9799	204	37	for	for	ADP
taxlaw-9799	204	38	tax	tax	NOUN
taxlaw-9799	204	39	avoidance	avoidance	NOUN
taxlaw-9799	204	40	by	by	ADP
taxlaw-9799	204	41	facilitating	facilitate	VERB
taxlaw-9799	204	42	the	the	DET
taxlaw-9799	204	43	avoidance	avoidance	NOUN
taxlaw-9799	204	44	of	of	ADP
taxlaw-9799	204	45	the	the	DET
taxlaw-9799	204	46	dividend	dividend	NOUN
taxlaw-9799	204	47	provisions	provision	NOUN
taxlaw-9799	204	48	of	of	ADP
taxlaw-9799	204	49	the	the	DET
taxlaw-9799	204	50	code	code	NOUN
taxlaw-9799	204	51	through	through	ADP
taxlaw-9799	204	52	the	the	DET
taxlaw-9799	204	53	subsequent	subsequent	ADJ
taxlaw-9799	204	54	sale	sale	NOUN
taxlaw-9799	204	55	or	or	CCONJ
taxlaw-9799	204	56	exchange	exchange	NOUN
taxlaw-9799	204	57	of	of	ADP
taxlaw-9799	204	58	stock	stock	NOUN
taxlaw-9799	204	59	of	of	ADP
taxlaw-9799	204	60	one	one	NUM
taxlaw-9799	204	61	corporation	corporation	NOUN
taxlaw-9799	204	62	and	and	CCONJ
taxlaw-9799	204	63	the	the	DET
taxlaw-9799	204	64	retention	retention	NOUN
taxlaw-9799	204	65	of	of	ADP
taxlaw-9799	204	66	the	the	DET
taxlaw-9799	204	67	stock	stock	NOUN
taxlaw-9799	204	68	of	of	ADP
taxlaw-9799	204	69	another	another	DET
taxlaw-9799	204	70	corporation	corporation	NOUN
taxlaw-9799	204	71	.	.	PUNCT
taxlaw-9799	205	1	”54	”54	VERB
taxlaw-9799	205	2	the	the	DET
taxlaw-9799	205	3	government	government	NOUN
taxlaw-9799	205	4	wishes	wish	VERB
taxlaw-9799	205	5	to	to	PART
taxlaw-9799	205	6	disallow	disallow	VERB
taxlaw-9799	205	7	the	the	DET
taxlaw-9799	205	8	conversion	conversion	NOUN
taxlaw-9799	205	9	of	of	ADP
taxlaw-9799	205	10	earnings	earning	NOUN
taxlaw-9799	205	11	and	and	CCONJ
taxlaw-9799	205	12	profits	profit	NOUN
taxlaw-9799	205	13	of	of	ADP
taxlaw-9799	205	14	what	what	PRON
taxlaw-9799	205	15	would	would	AUX
taxlaw-9799	205	16	otherwise	otherwise	ADV
taxlaw-9799	205	17	be	be	AUX
taxlaw-9799	205	18	ordinary	ordinary	ADJ
taxlaw-9799	205	19	dividend	dividend	NOUN
taxlaw-9799	205	20	income	income	NOUN
taxlaw-9799	205	21	into	into	ADP
taxlaw-9799	205	22	capital	capital	NOUN
taxlaw-9799	205	23	gain	gain	NOUN
taxlaw-9799	205	24	through	through	ADP
taxlaw-9799	205	25	the	the	DET
taxlaw-9799	205	26	device	device	NOUN
taxlaw-9799	205	27	or	or	CCONJ
taxlaw-9799	205	28	vehicle	vehicle	NOUN
taxlaw-9799	205	29	of	of	ADP
taxlaw-9799	205	30	a	a	DET
taxlaw-9799	205	31	tax	tax	NOUN
taxlaw-9799	205	32	-	-	PUNCT
taxlaw-9799	205	33	free	free	ADJ
taxlaw-9799	205	34	spin	spin	NOUN
taxlaw-9799	205	35	-	-	PUNCT
taxlaw-9799	205	36	off	off	NOUN
taxlaw-9799	205	37	.	.	PUNCT
taxlaw-9799	206	1	although	although	SCONJ
taxlaw-9799	206	2	dividend	dividend	NOUN
taxlaw-9799	206	3	income	income	NOUN
taxlaw-9799	206	4	may	may	AUX
taxlaw-9799	206	5	47	47	NUM
taxlaw-9799	206	6	treas	trea	NOUN
taxlaw-9799	206	7	.	.	PUNCT
taxlaw-9799	207	1	reg	reg	PROPN
taxlaw-9799	207	2	.	.	PUNCT
taxlaw-9799	208	1	§	§	PROPN
taxlaw-9799	208	2	1.355	1.355	NUM
taxlaw-9799	208	3	-	-	SYM
taxlaw-9799	208	4	2(d)(1	2(d)(1	NUM
taxlaw-9799	208	5	)	)	PUNCT
taxlaw-9799	208	6	.	.	PUNCT
taxlaw-9799	209	1	48	48	NUM
taxlaw-9799	209	2	treas	trea	NOUN
taxlaw-9799	209	3	.	.	PUNCT
taxlaw-9799	210	1	reg	reg	PROPN
taxlaw-9799	210	2	.	.	PUNCT
taxlaw-9799	211	1	§	§	PROPN
taxlaw-9799	211	2	1.355	1.355	NUM
taxlaw-9799	211	3	-	-	SYM
taxlaw-9799	211	4	2(d)(2)(ii	2(d)(2)(ii	NUM
taxlaw-9799	211	5	)	)	PUNCT
taxlaw-9799	211	6	.	.	PUNCT
taxlaw-9799	212	1	49	49	NUM
taxlaw-9799	212	2	treas	trea	NOUN
taxlaw-9799	212	3	.	.	PUNCT
taxlaw-9799	213	1	reg	reg	PROPN
taxlaw-9799	213	2	.	.	PUNCT
taxlaw-9799	214	1	§	§	PROPN
taxlaw-9799	214	2	1.355	1.355	NUM
taxlaw-9799	214	3	-	-	SYM
taxlaw-9799	214	4	2(d)(2)(iii	2(d)(2)(iii	NUM
taxlaw-9799	214	5	)	)	PUNCT
taxlaw-9799	214	6	.	.	PUNCT
taxlaw-9799	215	1	50	50	NUM
taxlaw-9799	215	2	treas	trea	NOUN
taxlaw-9799	215	3	.	.	PUNCT
taxlaw-9799	216	1	reg	reg	PROPN
taxlaw-9799	216	2	.	.	PUNCT
taxlaw-9799	217	1	§	§	PROPN
taxlaw-9799	217	2	1.355	1.355	NUM
taxlaw-9799	217	3	-	-	SYM
taxlaw-9799	217	4	2(d)(2)(iv	2(d)(2)(iv	NUM
taxlaw-9799	217	5	)	)	PUNCT
taxlaw-9799	217	6	.	.	PUNCT
taxlaw-9799	218	1	51	51	NUM
taxlaw-9799	218	2	treas	trea	NOUN
taxlaw-9799	218	3	.	.	PUNCT
taxlaw-9799	219	1	reg	reg	PROPN
taxlaw-9799	219	2	.	.	PUNCT
taxlaw-9799	220	1	§	§	PROPN
taxlaw-9799	220	2	1.355	1.355	NUM
taxlaw-9799	220	3	-	-	PUNCT
taxlaw-9799	220	4	2(d)(3)(ii	2(d)(3)(ii	NUM
taxlaw-9799	220	5	)	)	PUNCT
taxlaw-9799	220	6	.	.	PUNCT
taxlaw-9799	221	1	52	52	NUM
taxlaw-9799	221	2	treas	trea	NOUN
taxlaw-9799	221	3	.	.	PUNCT
taxlaw-9799	222	1	reg	reg	PROPN
taxlaw-9799	222	2	.	.	PUNCT
taxlaw-9799	223	1	§	§	PROPN
taxlaw-9799	223	2	1.355	1.355	NUM
taxlaw-9799	223	3	-	-	SYM
taxlaw-9799	223	4	2(d)(3)(iii	2(d)(3)(iii	NUM
taxlaw-9799	223	5	)	)	PUNCT
taxlaw-9799	223	6	.	.	PUNCT
taxlaw-9799	224	1	53	53	NUM
taxlaw-9799	224	2	treas	trea	NOUN
taxlaw-9799	224	3	.	.	PUNCT
taxlaw-9799	225	1	reg	reg	PROPN
taxlaw-9799	225	2	.	.	PUNCT
taxlaw-9799	226	1	§	§	PROPN
taxlaw-9799	226	2	1.355	1.355	NUM
taxlaw-9799	226	3	-	-	PUNCT
taxlaw-9799	226	4	2(d)(3)(iv	2(d)(3)(iv	NUM
taxlaw-9799	226	5	)	)	PUNCT
taxlaw-9799	226	6	.	.	PUNCT
taxlaw-9799	227	1	54	54	NUM
taxlaw-9799	227	2	treas	trea	NOUN
taxlaw-9799	227	3	.	.	PUNCT
taxlaw-9799	228	1	reg	reg	PROPN
taxlaw-9799	228	2	.	.	PUNCT
taxlaw-9799	229	1	§	§	PROPN
taxlaw-9799	229	2	1.355	1.355	NUM
taxlaw-9799	229	3	-	-	SYM
taxlaw-9799	229	4	2(d	2(d	NUM
taxlaw-9799	229	5	)	)	PUNCT
taxlaw-9799	229	6	.	.	PUNCT
taxlaw-9799	230	1	2022	2022	NUM
taxlaw-9799	230	2	]	]	PUNCT
taxlaw-9799	230	3	conglomerate	conglomerate	NOUN
taxlaw-9799	230	4	spin	spin	NOUN
taxlaw-9799	230	5	-	-	PUNCT
taxlaw-9799	230	6	offs	off	NOUN
taxlaw-9799	230	7	176	176	NUM
taxlaw-9799	230	8	be	be	AUX
taxlaw-9799	230	9	taxed	tax	VERB
taxlaw-9799	230	10	at	at	ADP
taxlaw-9799	230	11	the	the	DET
taxlaw-9799	230	12	same	same	ADJ
taxlaw-9799	230	13	rates	rate	NOUN
taxlaw-9799	230	14	as	as	ADP
taxlaw-9799	230	15	the	the	DET
taxlaw-9799	230	16	long	long	ADJ
taxlaw-9799	230	17	-	-	PUNCT
taxlaw-9799	230	18	term	term	NOUN
taxlaw-9799	230	19	capital	capital	NOUN
taxlaw-9799	230	20	gain	gain	NOUN
taxlaw-9799	230	21	that	that	SCONJ
taxlaw-9799	230	22	shareholders	shareholder	NOUN
taxlaw-9799	230	23	would	would	AUX
taxlaw-9799	230	24	realize	realize	VERB
taxlaw-9799	230	25	if	if	SCONJ
taxlaw-9799	230	26	they	they	PRON
taxlaw-9799	230	27	sold	sell	VERB
taxlaw-9799	230	28	their	their	PRON
taxlaw-9799	230	29	controlled	control	VERB
taxlaw-9799	230	30	stock	stock	NOUN
taxlaw-9799	230	31	immediately	immediately	ADV
taxlaw-9799	230	32	after	after	ADP
taxlaw-9799	230	33	a	a	DET
taxlaw-9799	230	34	section	section	NOUN
taxlaw-9799	230	35	355	355	NUM
taxlaw-9799	230	36	distribution	distribution	NOUN
taxlaw-9799	230	37	,	,	PUNCT
taxlaw-9799	230	38	there	there	PRON
taxlaw-9799	230	39	are	be	VERB
taxlaw-9799	230	40	still	still	ADV
taxlaw-9799	230	41	reasons	reason	NOUN
taxlaw-9799	230	42	why	why	SCONJ
taxlaw-9799	230	43	taxpayers	taxpayer	NOUN
taxlaw-9799	230	44	may	may	AUX
taxlaw-9799	230	45	prefer	prefer	VERB
taxlaw-9799	230	46	capital	capital	NOUN
taxlaw-9799	230	47	gains	gain	NOUN
taxlaw-9799	230	48	over	over	ADP
taxlaw-9799	230	49	dividend	dividend	NOUN
taxlaw-9799	230	50	income.55	income.55	NOUN
taxlaw-9799	230	51	the	the	DET
taxlaw-9799	230	52	fact	fact	NOUN
taxlaw-9799	230	53	that	that	SCONJ
taxlaw-9799	230	54	conglomerates	conglomerate	NOUN
taxlaw-9799	230	55	tend	tend	VERB
taxlaw-9799	230	56	to	to	PART
taxlaw-9799	230	57	be	be	AUX
taxlaw-9799	230	58	widely	widely	ADV
taxlaw-9799	230	59	held	hold	VERB
taxlaw-9799	230	60	and	and	CCONJ
taxlaw-9799	230	61	publicly	publicly	ADV
taxlaw-9799	230	62	traded	trade	VERB
taxlaw-9799	230	63	corporations	corporation	NOUN
taxlaw-9799	230	64	helps	help	VERB
taxlaw-9799	230	65	to	to	PART
taxlaw-9799	230	66	constitute	constitute	VERB
taxlaw-9799	230	67	evidence	evidence	NOUN
taxlaw-9799	230	68	of	of	ADP
taxlaw-9799	230	69	nondevice	nondevice	NOUN
taxlaw-9799	230	70	for	for	ADP
taxlaw-9799	230	71	conglomerate	conglomerate	NOUN
taxlaw-9799	230	72	spin	spin	NOUN
taxlaw-9799	230	73	-	-	PUNCT
taxlaw-9799	230	74	offs	off	NOUN
taxlaw-9799	230	75	.	.	PUNCT
taxlaw-9799	231	1	publicly	publicly	ADV
taxlaw-9799	231	2	traded	trade	VERB
taxlaw-9799	231	3	conglomerates	conglomerate	NOUN
taxlaw-9799	231	4	with	with	ADP
taxlaw-9799	231	5	no	no	DET
taxlaw-9799	231	6	significant	significant	ADJ
taxlaw-9799	231	7	shareholder	shareholder	NOUN
taxlaw-9799	231	8	will	will	AUX
taxlaw-9799	231	9	probably	probably	ADV
taxlaw-9799	231	10	be	be	AUX
taxlaw-9799	231	11	less	less	ADV
taxlaw-9799	231	12	motivated	motivated	ADJ
taxlaw-9799	231	13	to	to	PART
taxlaw-9799	231	14	bail	bail	VERB
taxlaw-9799	231	15	out	out	ADP
taxlaw-9799	231	16	earnings	earning	NOUN
taxlaw-9799	231	17	and	and	CCONJ
taxlaw-9799	231	18	profits	profit	NOUN
taxlaw-9799	231	19	for	for	ADP
taxlaw-9799	231	20	the	the	DET
taxlaw-9799	231	21	benefit	benefit	NOUN
taxlaw-9799	231	22	of	of	ADP
taxlaw-9799	231	23	their	their	PRON
taxlaw-9799	231	24	shareholders.56	shareholders.56	NOUN
taxlaw-9799	231	25	moreover	moreover	ADV
taxlaw-9799	231	26	,	,	PUNCT
taxlaw-9799	231	27	large	large	ADJ
taxlaw-9799	231	28	public	public	ADJ
taxlaw-9799	231	29	companies	company	NOUN
taxlaw-9799	231	30	have	have	VERB
taxlaw-9799	231	31	more	more	ADJ
taxlaw-9799	231	32	straightforward	straightforward	ADJ
taxlaw-9799	231	33	means	mean	NOUN
taxlaw-9799	231	34	of	of	ADP
taxlaw-9799	231	35	returning	return	VERB
taxlaw-9799	231	36	excess	excess	ADJ
taxlaw-9799	231	37	cash	cash	NOUN
taxlaw-9799	231	38	to	to	ADP
taxlaw-9799	231	39	shareholders.57	shareholders.57	PROPN
taxlaw-9799	231	40	for	for	ADP
taxlaw-9799	231	41	example	example	NOUN
taxlaw-9799	231	42	,	,	PUNCT
taxlaw-9799	231	43	they	they	PRON
taxlaw-9799	231	44	can	can	AUX
taxlaw-9799	231	45	engage	engage	VERB
taxlaw-9799	231	46	in	in	ADP
taxlaw-9799	231	47	share	share	NOUN
taxlaw-9799	231	48	tenders	tender	NOUN
taxlaw-9799	231	49	rather	rather	ADV
taxlaw-9799	231	50	than	than	ADP
taxlaw-9799	231	51	facing	face	VERB
taxlaw-9799	231	52	the	the	DET
taxlaw-9799	231	53	uncertainty	uncertainty	NOUN
taxlaw-9799	231	54	and	and	CCONJ
taxlaw-9799	231	55	complex	complex	ADJ
taxlaw-9799	231	56	requirements	requirement	NOUN
taxlaw-9799	231	57	of	of	ADP
taxlaw-9799	231	58	section	section	NOUN
taxlaw-9799	231	59	355.58	355.58	NUM
taxlaw-9799	231	60	2	2	NUM
taxlaw-9799	231	61	.	.	PUNCT
taxlaw-9799	232	1	additional	additional	ADJ
taxlaw-9799	232	2	statutory	statutory	ADJ
taxlaw-9799	232	3	anti	anti	ADJ
taxlaw-9799	232	4	-	-	ADJ
taxlaw-9799	232	5	abuse	abuse	ADJ
taxlaw-9799	232	6	provisions	provision	NOUN
taxlaw-9799	232	7	a.	a.	NOUN
taxlaw-9799	232	8	section	section	NOUN
taxlaw-9799	232	9	355(d	355(d	PROPN
taxlaw-9799	232	10	):	):	PUNCT
taxlaw-9799	232	11	“	"	PUNCT
taxlaw-9799	232	12	disqualified	disqualify	VERB
taxlaw-9799	232	13	distributions	distribution	NOUN
taxlaw-9799	232	14	”	"	PUNCT
taxlaw-9799	232	15	section	section	NOUN
taxlaw-9799	232	16	355(d	355(d	PROPN
taxlaw-9799	232	17	)	)	PUNCT
taxlaw-9799	232	18	may	may	AUX
taxlaw-9799	232	19	require	require	VERB
taxlaw-9799	232	20	that	that	SCONJ
taxlaw-9799	232	21	a	a	DET
taxlaw-9799	232	22	parent	parent	NOUN
taxlaw-9799	232	23	recognize	recognize	VERB
taxlaw-9799	232	24	gain	gain	NOUN
taxlaw-9799	232	25	on	on	ADP
taxlaw-9799	232	26	certain	certain	ADJ
taxlaw-9799	232	27	distributions	distribution	NOUN
taxlaw-9799	232	28	of	of	ADP
taxlaw-9799	232	29	stock	stock	NOUN
taxlaw-9799	232	30	or	or	CCONJ
taxlaw-9799	232	31	securities	security	NOUN
taxlaw-9799	232	32	in	in	ADP
taxlaw-9799	232	33	a	a	DET
taxlaw-9799	232	34	controlled	control	VERB
taxlaw-9799	232	35	subsidiary.59	subsidiary.59	NOUN
taxlaw-9799	232	36	this	this	DET
taxlaw-9799	232	37	section	section	NOUN
taxlaw-9799	232	38	considers	consider	VERB
taxlaw-9799	232	39	whether	whether	SCONJ
taxlaw-9799	232	40	a	a	DET
taxlaw-9799	232	41	distribution	distribution	NOUN
taxlaw-9799	232	42	is	be	AUX
taxlaw-9799	232	43	“	"	PUNCT
taxlaw-9799	232	44	disqualified	disqualify	VERB
taxlaw-9799	232	45	”	"	PUNCT
taxlaw-9799	232	46	from	from	ADP
taxlaw-9799	232	47	corporate	corporate	ADJ
taxlaw-9799	232	48	-	-	PUNCT
taxlaw-9799	232	49	level	level	NOUN
taxlaw-9799	232	50	nonrecognition	nonrecognition	NOUN
taxlaw-9799	232	51	treatment	treatment	NOUN
taxlaw-9799	232	52	because	because	SCONJ
taxlaw-9799	232	53	it	it	PRON
taxlaw-9799	232	54	is	be	AUX
taxlaw-9799	232	55	more	more	ADV
taxlaw-9799	232	56	akin	akin	ADJ
taxlaw-9799	232	57	to	to	ADP
taxlaw-9799	232	58	a	a	DET
taxlaw-9799	232	59	disguised	disguise	VERB
taxlaw-9799	232	60	sale	sale	NOUN
taxlaw-9799	232	61	rather	rather	ADV
taxlaw-9799	232	62	than	than	ADP
taxlaw-9799	232	63	a	a	DET
taxlaw-9799	232	64	mere	mere	ADJ
taxlaw-9799	232	65	change	change	NOUN
taxlaw-9799	232	66	in	in	ADP
taxlaw-9799	232	67	corporate	corporate	ADJ
taxlaw-9799	232	68	form	form	NOUN
taxlaw-9799	232	69	.	.	PUNCT
taxlaw-9799	233	1	stock	stock	NOUN
taxlaw-9799	233	2	in	in	ADP
taxlaw-9799	233	3	the	the	DET
taxlaw-9799	233	4	distributing	distribute	VERB
taxlaw-9799	233	5	corporation	corporation	NOUN
taxlaw-9799	233	6	of	of	ADP
taxlaw-9799	233	7	one	one	NUM
taxlaw-9799	233	8	of	of	ADP
taxlaw-9799	233	9	its	its	PRON
taxlaw-9799	233	10	controlled	control	VERB
taxlaw-9799	233	11	subsidiaries	subsidiary	NOUN
taxlaw-9799	233	12	is	be	AUX
taxlaw-9799	233	13	considered	consider	VERB
taxlaw-9799	233	14	“	"	PUNCT
taxlaw-9799	233	15	disqualified	disqualify	VERB
taxlaw-9799	233	16	stock	stock	NOUN
taxlaw-9799	233	17	”	"	PUNCT
taxlaw-9799	233	18	if	if	SCONJ
taxlaw-9799	233	19	it	it	PRON
taxlaw-9799	233	20	was	be	AUX
taxlaw-9799	233	21	acquired	acquire	VERB
taxlaw-9799	233	22	by	by	ADP
taxlaw-9799	233	23	purchase	purchase	NOUN
taxlaw-9799	233	24	within	within	ADP
taxlaw-9799	233	25	the	the	DET
taxlaw-9799	233	26	five	five	NUM
taxlaw-9799	233	27	-	-	PUNCT
taxlaw-9799	233	28	year	year	NOUN
taxlaw-9799	233	29	period	period	NOUN
taxlaw-9799	233	30	ending	end	VERB
taxlaw-9799	233	31	on	on	ADP
taxlaw-9799	233	32	the	the	DET
taxlaw-9799	233	33	date	date	NOUN
taxlaw-9799	233	34	of	of	ADP
taxlaw-9799	233	35	the	the	DET
taxlaw-9799	233	36	distribution.60	distribution.60	PROPN
taxlaw-9799	233	37	if	if	SCONJ
taxlaw-9799	233	38	so	so	ADV
taxlaw-9799	233	39	,	,	PUNCT
taxlaw-9799	233	40	the	the	DET
taxlaw-9799	233	41	distribution	distribution	NOUN
taxlaw-9799	233	42	will	will	AUX
taxlaw-9799	233	43	trigger	trigger	VERB
taxlaw-9799	233	44	gain	gain	VERB
taxlaw-9799	233	45	to	to	ADP
taxlaw-9799	233	46	the	the	DET
taxlaw-9799	233	47	distributing	distribute	VERB
taxlaw-9799	233	48	corporation	corporation	NOUN
taxlaw-9799	233	49	as	as	SCONJ
taxlaw-9799	233	50	if	if	SCONJ
taxlaw-9799	233	51	the	the	DET
taxlaw-9799	233	52	stock	stock	NOUN
taxlaw-9799	233	53	were	be	AUX
taxlaw-9799	233	54	sold	sell	VERB
taxlaw-9799	233	55	to	to	ADP
taxlaw-9799	233	56	the	the	DET
taxlaw-9799	233	57	distributee	distributee	NOUN
taxlaw-9799	233	58	shareholders	shareholder	NOUN
taxlaw-9799	233	59	at	at	ADP
taxlaw-9799	233	60	its	its	PRON
taxlaw-9799	233	61	fair	fair	ADJ
taxlaw-9799	233	62	market	market	NOUN
taxlaw-9799	233	63	value	value	NOUN
taxlaw-9799	233	64	.	.	PUNCT
taxlaw-9799	234	1	section	section	NOUN
taxlaw-9799	234	2	355(d	355(d	PROPN
taxlaw-9799	234	3	)	)	PUNCT
taxlaw-9799	234	4	does	do	AUX
taxlaw-9799	234	5	not	not	PART
taxlaw-9799	234	6	,	,	PUNCT
taxlaw-9799	234	7	however	however	ADV
taxlaw-9799	234	8	,	,	PUNCT
taxlaw-9799	234	9	alter	alter	VERB
taxlaw-9799	234	10	the	the	DET
taxlaw-9799	234	11	nonrecognition	nonrecognition	NOUN
taxlaw-9799	234	12	treatment	treatment	NOUN
taxlaw-9799	234	13	available	available	ADJ
taxlaw-9799	234	14	to	to	ADP
taxlaw-9799	234	15	the	the	DET
taxlaw-9799	234	16	shareholder	shareholder	NOUN
taxlaw-9799	234	17	distributees.61	distributees.61	NOUN
taxlaw-9799	234	18	section	section	NOUN
taxlaw-9799	234	19	355(d	355(d	PROPN
taxlaw-9799	234	20	)	)	PUNCT
taxlaw-9799	234	21	can	can	AUX
taxlaw-9799	234	22	be	be	AUX
taxlaw-9799	234	23	a	a	DET
taxlaw-9799	234	24	particularly	particularly	ADV
taxlaw-9799	234	25	burdensome	burdensome	ADJ
taxlaw-9799	234	26	hurdle	hurdle	NOUN
taxlaw-9799	234	27	for	for	ADP
taxlaw-9799	234	28	a	a	DET
taxlaw-9799	234	29	multinational	multinational	ADJ
taxlaw-9799	234	30	conglomerate	conglomerate	NOUN
taxlaw-9799	234	31	to	to	PART
taxlaw-9799	234	32	overcome	overcome	VERB
taxlaw-9799	234	33	because	because	SCONJ
taxlaw-9799	234	34	the	the	DET
taxlaw-9799	234	35	conglomerate	conglomerate	NOUN
taxlaw-9799	234	36	may	may	AUX
taxlaw-9799	234	37	have	have	AUX
taxlaw-9799	234	38	engaged	engage	VERB
taxlaw-9799	234	39	in	in	ADP
taxlaw-9799	234	40	stock	stock	NOUN
taxlaw-9799	234	41	55	55	NUM
taxlaw-9799	234	42	see	see	NOUN
taxlaw-9799	234	43	report	report	NOUN
taxlaw-9799	234	44	no	no	PRON
taxlaw-9799	234	45	.	.	NOUN
taxlaw-9799	234	46	1342	1342	NUM
taxlaw-9799	234	47	,	,	PUNCT
taxlaw-9799	234	48	supra	supra	NOUN
taxlaw-9799	234	49	note	note	NOUN
taxlaw-9799	234	50	3	3	NUM
taxlaw-9799	234	51	,	,	PUNCT
taxlaw-9799	234	52	at	at	ADP
taxlaw-9799	234	53	24	24	NUM
taxlaw-9799	234	54	-	-	SYM
taxlaw-9799	234	55	25	25	NUM
taxlaw-9799	234	56	(	(	PUNCT
taxlaw-9799	234	57	“	"	PUNCT
taxlaw-9799	234	58	[	[	X
taxlaw-9799	234	59	w]hen	w]hen	ADV
taxlaw-9799	234	60	a	a	DET
taxlaw-9799	234	61	taxpayer	taxpayer	NOUN
taxlaw-9799	234	62	receives	receive	VERB
taxlaw-9799	234	63	stock	stock	NOUN
taxlaw-9799	234	64	of	of	ADP
taxlaw-9799	234	65	a	a	DET
taxlaw-9799	234	66	controlled	control	VERB
taxlaw-9799	234	67	corporation	corporation	NOUN
taxlaw-9799	234	68	in	in	ADP
taxlaw-9799	234	69	a	a	DET
taxlaw-9799	234	70	spin	spin	NOUN
taxlaw-9799	234	71	-	-	PUNCT
taxlaw-9799	234	72	off	off	NOUN
taxlaw-9799	234	73	,	,	PUNCT
taxlaw-9799	234	74	it	it	PRON
taxlaw-9799	234	75	allocates	allocate	VERB
taxlaw-9799	234	76	a	a	DET
taxlaw-9799	234	77	portion	portion	NOUN
taxlaw-9799	234	78	of	of	ADP
taxlaw-9799	234	79	its	its	PRON
taxlaw-9799	234	80	basis	basis	NOUN
taxlaw-9799	234	81	in	in	ADP
taxlaw-9799	234	82	its	its	PRON
taxlaw-9799	234	83	stock	stock	NOUN
taxlaw-9799	234	84	of	of	ADP
taxlaw-9799	234	85	distributing	distribute	VERB
taxlaw-9799	234	86	to	to	ADP
taxlaw-9799	234	87	the	the	DET
taxlaw-9799	234	88	controlled	control	VERB
taxlaw-9799	234	89	stock	stock	NOUN
taxlaw-9799	234	90	received	receive	VERB
taxlaw-9799	234	91	in	in	ADP
taxlaw-9799	234	92	the	the	DET
taxlaw-9799	234	93	distribution	distribution	NOUN
taxlaw-9799	234	94	.	.	PUNCT
taxlaw-9799	235	1	as	as	ADP
taxlaw-9799	235	2	a	a	DET
taxlaw-9799	235	3	result	result	NOUN
taxlaw-9799	235	4	,	,	PUNCT
taxlaw-9799	235	5	gain	gain	NOUN
taxlaw-9799	235	6	realized	realize	VERB
taxlaw-9799	235	7	in	in	ADP
taxlaw-9799	235	8	a	a	DET
taxlaw-9799	235	9	subsequent	subsequent	ADJ
taxlaw-9799	235	10	disposition	disposition	NOUN
taxlaw-9799	235	11	of	of	ADP
taxlaw-9799	235	12	either	either	CCONJ
taxlaw-9799	235	13	distributing	distribute	VERB
taxlaw-9799	235	14	or	or	CCONJ
taxlaw-9799	235	15	controlled	control	VERB
taxlaw-9799	235	16	will	will	AUX
taxlaw-9799	235	17	generally	generally	ADV
taxlaw-9799	235	18	be	be	AUX
taxlaw-9799	235	19	less	less	ADJ
taxlaw-9799	235	20	than	than	ADP
taxlaw-9799	235	21	the	the	DET
taxlaw-9799	235	22	amount	amount	NOUN
taxlaw-9799	235	23	of	of	ADP
taxlaw-9799	235	24	dividend	dividend	NOUN
taxlaw-9799	235	25	income	income	NOUN
taxlaw-9799	235	26	the	the	DET
taxlaw-9799	235	27	taxpayer	taxpayer	NOUN
taxlaw-9799	235	28	would	would	AUX
taxlaw-9799	235	29	have	have	AUX
taxlaw-9799	235	30	had	have	VERB
taxlaw-9799	235	31	to	to	PART
taxlaw-9799	235	32	include	include	VERB
taxlaw-9799	235	33	in	in	ADP
taxlaw-9799	235	34	gross	gross	ADJ
taxlaw-9799	235	35	income	income	NOUN
taxlaw-9799	235	36	if	if	SCONJ
taxlaw-9799	235	37	the	the	DET
taxlaw-9799	235	38	distribution	distribution	NOUN
taxlaw-9799	235	39	had	have	AUX
taxlaw-9799	235	40	been	be	AUX
taxlaw-9799	235	41	taxed	tax	VERB
taxlaw-9799	235	42	as	as	ADP
taxlaw-9799	235	43	a	a	DET
taxlaw-9799	235	44	dividend	dividend	NOUN
taxlaw-9799	235	45	.	.	PUNCT
taxlaw-9799	235	46	.	.	PUNCT
taxlaw-9799	236	1	.	.	PUNCT
taxlaw-9799	237	1	the	the	DET
taxlaw-9799	237	2	treasury	treasury	NOUN
taxlaw-9799	237	3	recognized	recognize	VERB
taxlaw-9799	237	4	this	this	DET
taxlaw-9799	237	5	potential	potential	NOUN
taxlaw-9799	237	6	for	for	ADP
taxlaw-9799	237	7	tax	tax	NOUN
taxlaw-9799	237	8	avoidance	avoidance	NOUN
taxlaw-9799	237	9	and	and	CCONJ
taxlaw-9799	237	10	,	,	PUNCT
taxlaw-9799	237	11	as	as	ADP
taxlaw-9799	237	12	part	part	NOUN
taxlaw-9799	237	13	of	of	ADP
taxlaw-9799	237	14	the	the	DET
taxlaw-9799	237	15	1989	1989	NUM
taxlaw-9799	237	16	regulations	regulation	NOUN
taxlaw-9799	237	17	,	,	PUNCT
taxlaw-9799	237	18	broadened	broaden	VERB
taxlaw-9799	237	19	the	the	DET
taxlaw-9799	237	20	definition	definition	NOUN
taxlaw-9799	237	21	of	of	ADP
taxlaw-9799	237	22	device	device	NOUN
taxlaw-9799	237	23	to	to	PART
taxlaw-9799	237	24	include	include	VERB
taxlaw-9799	237	25	“	"	PUNCT
taxlaw-9799	237	26	a	a	DET
taxlaw-9799	237	27	transaction	transaction	NOUN
taxlaw-9799	237	28	that	that	PRON
taxlaw-9799	237	29	effects	effect	VERB
taxlaw-9799	237	30	a	a	DET
taxlaw-9799	237	31	recovery	recovery	NOUN
taxlaw-9799	237	32	of	of	ADP
taxlaw-9799	237	33	basis	basis	NOUN
taxlaw-9799	237	34	.	.	PUNCT
taxlaw-9799	237	35	.	.	PUNCT
taxlaw-9799	237	36	.	.	PUNCT
taxlaw-9799	237	37	.	.	PUNCT
taxlaw-9799	238	1	second	second	ADV
taxlaw-9799	238	2	,	,	PUNCT
taxlaw-9799	238	3	in	in	ADP
taxlaw-9799	238	4	the	the	DET
taxlaw-9799	238	5	case	case	NOUN
taxlaw-9799	238	6	of	of	ADP
taxlaw-9799	238	7	individual	individual	ADJ
taxlaw-9799	238	8	taxpayers	taxpayer	NOUN
taxlaw-9799	238	9	,	,	PUNCT
taxlaw-9799	238	10	capital	capital	NOUN
taxlaw-9799	238	11	gains	gain	NOUN
taxlaw-9799	238	12	are	be	AUX
taxlaw-9799	238	13	preferred	prefer	VERB
taxlaw-9799	238	14	to	to	PART
taxlaw-9799	238	15	dividend	dividend	VERB
taxlaw-9799	238	16	income	income	NOUN
taxlaw-9799	238	17	because	because	SCONJ
taxlaw-9799	238	18	the	the	DET
taxlaw-9799	238	19	former	former	ADJ
taxlaw-9799	238	20	may	may	AUX
taxlaw-9799	238	21	be	be	AUX
taxlaw-9799	238	22	offset	offset	VERB
taxlaw-9799	238	23	by	by	ADP
taxlaw-9799	238	24	capital	capital	NOUN
taxlaw-9799	238	25	losses	loss	NOUN
taxlaw-9799	238	26	.	.	PUNCT
taxlaw-9799	239	1	thus	thus	ADV
taxlaw-9799	239	2	,	,	PUNCT
taxlaw-9799	239	3	the	the	DET
taxlaw-9799	239	4	device	device	NOUN
taxlaw-9799	239	5	concern	concern	NOUN
taxlaw-9799	239	6	could	could	AUX
taxlaw-9799	239	7	be	be	AUX
taxlaw-9799	239	8	relevant	relevant	ADJ
taxlaw-9799	239	9	even	even	ADV
taxlaw-9799	239	10	where	where	SCONJ
taxlaw-9799	239	11	a	a	DET
taxlaw-9799	239	12	shareholder	shareholder	NOUN
taxlaw-9799	239	13	has	have	VERB
taxlaw-9799	239	14	little	little	ADJ
taxlaw-9799	239	15	or	or	CCONJ
taxlaw-9799	239	16	no	no	PRON
taxlaw-9799	239	17	basis	basis	NOUN
taxlaw-9799	239	18	in	in	ADP
taxlaw-9799	239	19	the	the	DET
taxlaw-9799	239	20	shareholder	shareholder	NOUN
taxlaw-9799	239	21	’s	’s	PART
taxlaw-9799	239	22	shares	share	NOUN
taxlaw-9799	239	23	.	.	PUNCT
taxlaw-9799	240	1	third	third	ADJ
taxlaw-9799	240	2	,	,	PUNCT
taxlaw-9799	240	3	foreign	foreign	ADJ
taxlaw-9799	240	4	shareholders	shareholder	NOUN
taxlaw-9799	240	5	generally	generally	ADV
taxlaw-9799	240	6	prefer	prefer	VERB
taxlaw-9799	240	7	capital	capital	NOUN
taxlaw-9799	240	8	gain	gain	NOUN
taxlaw-9799	240	9	over	over	ADP
taxlaw-9799	240	10	dividend	dividend	NOUN
taxlaw-9799	240	11	income	income	NOUN
taxlaw-9799	240	12	,	,	PUNCT
taxlaw-9799	240	13	because	because	SCONJ
taxlaw-9799	240	14	capital	capital	NOUN
taxlaw-9799	240	15	gain	gain	NOUN
taxlaw-9799	240	16	is	be	AUX
taxlaw-9799	240	17	not	not	PART
taxlaw-9799	240	18	subject	subject	ADJ
taxlaw-9799	240	19	to	to	ADP
taxlaw-9799	240	20	withholding	withholding	NOUN
taxlaw-9799	240	21	,	,	PUNCT
taxlaw-9799	240	22	while	while	SCONJ
taxlaw-9799	240	23	dividends	dividend	NOUN
taxlaw-9799	240	24	are	be	AUX
taxlaw-9799	240	25	subject	subject	ADJ
taxlaw-9799	240	26	to	to	ADP
taxlaw-9799	240	27	30	30	NUM
taxlaw-9799	240	28	percent	percent	NOUN
taxlaw-9799	240	29	withholding	withholding	NOUN
taxlaw-9799	240	30	,	,	PUNCT
taxlaw-9799	240	31	subject	subject	ADJ
taxlaw-9799	240	32	to	to	ADP
taxlaw-9799	240	33	reduction	reduction	NOUN
taxlaw-9799	240	34	under	under	ADP
taxlaw-9799	240	35	treaties	treaty	NOUN
taxlaw-9799	240	36	.	.	PUNCT
taxlaw-9799	240	37	”	"	PUNCT
taxlaw-9799	240	38	)	)	PUNCT
taxlaw-9799	240	39	.	.	PUNCT
taxlaw-9799	241	1	56	56	NUM
taxlaw-9799	241	2	see	see	VERB
taxlaw-9799	241	3	i	i	PRON
taxlaw-9799	241	4	d.	d.	PROPN
taxlaw-9799	241	5	at	at	ADP
taxlaw-9799	241	6	27	27	NUM
taxlaw-9799	241	7	.	.	PUNCT
taxlaw-9799	242	1	57	57	NUM
taxlaw-9799	242	2	see	see	VERB
taxlaw-9799	242	3	i	i	PRON
taxlaw-9799	242	4	d.	d.	PROPN
taxlaw-9799	242	5	58	58	NUM
taxlaw-9799	242	6	see	see	VERB
taxlaw-9799	242	7	i	i	PRON
taxlaw-9799	242	8	d.	d.	PROPN
taxlaw-9799	242	9	59	59	NUM
taxlaw-9799	242	10	§	§	PROPN
taxlaw-9799	242	11	355(d)(2)(a	355(d)(2)(a	PROPN
taxlaw-9799	242	12	)	)	PUNCT
taxlaw-9799	242	13	.	.	PUNCT
taxlaw-9799	243	1	60	60	NUM
taxlaw-9799	243	2	§	§	PROPN
taxlaw-9799	243	3	355(d)(3	355(d)(3	NUM
taxlaw-9799	243	4	)	)	PUNCT
taxlaw-9799	243	5	.	.	PUNCT
taxlaw-9799	244	1	61	61	NUM
taxlaw-9799	244	2	douglas	douglas	PROPN
taxlaw-9799	244	3	a.	a.	PROPN
taxlaw-9799	244	4	kahn	kahn	PROPN
taxlaw-9799	244	5	&	&	CCONJ
taxlaw-9799	244	6	jeffrey	jeffrey	PROPN
taxlaw-9799	244	7	h.	h.	PROPN
taxlaw-9799	244	8	kahn	kahn	PROPN
taxlaw-9799	244	9	,	,	PUNCT
taxlaw-9799	244	10	principles	principle	NOUN
taxlaw-9799	244	11	of	of	ADP
taxlaw-9799	244	12	corporate	corporate	ADJ
taxlaw-9799	244	13	taxation	taxation	NOUN
taxlaw-9799	244	14	243	243	NUM
taxlaw-9799	244	15	(	(	PUNCT
taxlaw-9799	244	16	2d	2d	NUM
taxlaw-9799	244	17	ed	ed	NOUN
taxlaw-9799	244	18	.	.	PROPN
taxlaw-9799	244	19	2019	2019	NUM
taxlaw-9799	244	20	)	)	PUNCT
taxlaw-9799	244	21	.	.	PUNCT
taxlaw-9799	245	1	177	177	NUM
taxlaw-9799	245	2	columbia	columbia	PROPN
taxlaw-9799	245	3	journal	journal	PROPN
taxlaw-9799	245	4	of	of	ADP
taxlaw-9799	245	5	tax	tax	NOUN
taxlaw-9799	245	6	law	law	NOUN
taxlaw-9799	246	1	[	[	X
taxlaw-9799	246	2	vol	vol	NOUN
taxlaw-9799	246	3	:	:	PUNCT
taxlaw-9799	246	4	13:2	13:2	NUM
taxlaw-9799	246	5	acquisitions	acquisition	NOUN
taxlaw-9799	246	6	within	within	ADP
taxlaw-9799	246	7	five	five	NUM
taxlaw-9799	246	8	years	year	NOUN
taxlaw-9799	246	9	of	of	ADP
taxlaw-9799	246	10	a	a	DET
taxlaw-9799	246	11	planned	plan	VERB
taxlaw-9799	246	12	spin	spin	NOUN
taxlaw-9799	246	13	-	-	PUNCT
taxlaw-9799	246	14	off	off	NOUN
taxlaw-9799	246	15	that	that	PRON
taxlaw-9799	246	16	would	would	AUX
taxlaw-9799	246	17	cause	cause	VERB
taxlaw-9799	246	18	it	it	PRON
taxlaw-9799	246	19	to	to	PART
taxlaw-9799	246	20	hold	hold	VERB
taxlaw-9799	246	21	disqualified	disqualified	ADJ
taxlaw-9799	246	22	stock	stock	NOUN
taxlaw-9799	246	23	and	and	CCONJ
taxlaw-9799	246	24	therefore	therefore	ADV
taxlaw-9799	246	25	to	to	PART
taxlaw-9799	246	26	engage	engage	VERB
taxlaw-9799	246	27	in	in	ADP
taxlaw-9799	246	28	a	a	DET
taxlaw-9799	246	29	“	"	PUNCT
taxlaw-9799	246	30	disqualified	disqualify	VERB
taxlaw-9799	246	31	distribution	distribution	NOUN
taxlaw-9799	246	32	.	.	PUNCT
taxlaw-9799	247	1	”62	”62	PROPN
taxlaw-9799	247	2	if	if	SCONJ
taxlaw-9799	247	3	a	a	DET
taxlaw-9799	247	4	distribution	distribution	NOUN
taxlaw-9799	247	5	is	be	AUX
taxlaw-9799	247	6	disqualified	disqualify	VERB
taxlaw-9799	247	7	,	,	PUNCT
taxlaw-9799	247	8	“	"	PUNCT
taxlaw-9799	247	9	no	no	DET
taxlaw-9799	247	10	stock	stock	NOUN
taxlaw-9799	247	11	or	or	CCONJ
taxlaw-9799	247	12	securities	security	NOUN
taxlaw-9799	247	13	of	of	ADP
taxlaw-9799	247	14	any	any	PRON
taxlaw-9799	247	15	of	of	ADP
taxlaw-9799	247	16	the	the	DET
taxlaw-9799	247	17	controlled	control	VERB
taxlaw-9799	247	18	corporations	corporation	NOUN
taxlaw-9799	247	19	will	will	AUX
taxlaw-9799	247	20	be	be	AUX
taxlaw-9799	247	21	treated	treat	VERB
taxlaw-9799	247	22	as	as	ADP
taxlaw-9799	247	23	‘	'	PUNCT
taxlaw-9799	247	24	qualified	qualified	ADJ
taxlaw-9799	247	25	property	property	NOUN
taxlaw-9799	247	26	,	,	PUNCT
taxlaw-9799	247	27	’	'	PUNCT
taxlaw-9799	247	28	and	and	CCONJ
taxlaw-9799	247	29	any	any	DET
taxlaw-9799	247	30	unrealized	unrealized	ADJ
taxlaw-9799	247	31	appreciation	appreciation	NOUN
taxlaw-9799	247	32	in	in	ADP
taxlaw-9799	247	33	such	such	ADJ
taxlaw-9799	247	34	stock	stock	NOUN
taxlaw-9799	247	35	or	or	CCONJ
taxlaw-9799	247	36	securities	security	NOUN
taxlaw-9799	247	37	will	will	AUX
taxlaw-9799	247	38	be	be	AUX
taxlaw-9799	247	39	taxed	tax	VERB
taxlaw-9799	247	40	to	to	ADP
taxlaw-9799	247	41	the	the	DET
taxlaw-9799	247	42	distributing	distribute	VERB
taxlaw-9799	247	43	corporation	corporation	NOUN
taxlaw-9799	247	44	in	in	ADP
taxlaw-9799	247	45	the	the	DET
taxlaw-9799	247	46	same	same	ADJ
taxlaw-9799	247	47	manner	manner	NOUN
taxlaw-9799	247	48	as	as	ADP
taxlaw-9799	247	49	with	with	ADP
taxlaw-9799	247	50	other	other	ADJ
taxlaw-9799	247	51	appreciated	appreciated	ADJ
taxlaw-9799	247	52	property	property	NOUN
taxlaw-9799	247	53	.	.	PUNCT
taxlaw-9799	248	1	”63	”63	PROPN
taxlaw-9799	248	2	section	section	PROPN
taxlaw-9799	248	3	355(d	355(d	PROPN
taxlaw-9799	248	4	)	)	PUNCT
taxlaw-9799	248	5	is	be	AUX
taxlaw-9799	248	6	often	often	ADV
taxlaw-9799	248	7	particularly	particularly	ADV
taxlaw-9799	248	8	onerous	onerous	ADJ
taxlaw-9799	248	9	for	for	ADP
taxlaw-9799	248	10	multinational	multinational	ADJ
taxlaw-9799	248	11	conglomerates	conglomerate	NOUN
taxlaw-9799	248	12	that	that	PRON
taxlaw-9799	248	13	have	have	AUX
taxlaw-9799	248	14	structured	structure	VERB
taxlaw-9799	248	15	their	their	PRON
taxlaw-9799	248	16	foreign	foreign	ADJ
taxlaw-9799	248	17	lines	line	NOUN
taxlaw-9799	248	18	of	of	ADP
taxlaw-9799	248	19	business	business	NOUN
taxlaw-9799	248	20	in	in	ADP
taxlaw-9799	248	21	unique	unique	ADJ
taxlaw-9799	248	22	ways	way	NOUN
taxlaw-9799	248	23	to	to	PART
taxlaw-9799	248	24	comply	comply	VERB
taxlaw-9799	248	25	with	with	ADP
taxlaw-9799	248	26	the	the	DET
taxlaw-9799	248	27	laws	law	NOUN
taxlaw-9799	248	28	or	or	CCONJ
taxlaw-9799	248	29	differing	differ	VERB
taxlaw-9799	248	30	economic	economic	ADJ
taxlaw-9799	248	31	realities	reality	NOUN
taxlaw-9799	248	32	of	of	ADP
taxlaw-9799	248	33	foreign	foreign	ADJ
taxlaw-9799	248	34	jurisdictions	jurisdiction	NOUN
taxlaw-9799	248	35	.	.	PUNCT
taxlaw-9799	249	1	thus	thus	ADV
taxlaw-9799	249	2	,	,	PUNCT
taxlaw-9799	249	3	section	section	NOUN
taxlaw-9799	249	4	355(d	355(d	PROPN
taxlaw-9799	249	5	)	)	PUNCT
taxlaw-9799	249	6	can	can	AUX
taxlaw-9799	249	7	force	force	VERB
taxlaw-9799	249	8	them	they	PRON
taxlaw-9799	249	9	to	to	PART
taxlaw-9799	249	10	engage	engage	VERB
taxlaw-9799	249	11	in	in	ADP
taxlaw-9799	249	12	circuitous	circuitous	ADJ
taxlaw-9799	249	13	and	and	CCONJ
taxlaw-9799	249	14	costly	costly	ADJ
taxlaw-9799	249	15	internal	internal	ADJ
taxlaw-9799	249	16	tax	tax	NOUN
taxlaw-9799	249	17	planning	planning	NOUN
taxlaw-9799	249	18	to	to	PART
taxlaw-9799	249	19	separate	separate	VERB
taxlaw-9799	249	20	out	out	ADP
taxlaw-9799	249	21	their	their	PRON
taxlaw-9799	249	22	intertwined	intertwine	VERB
taxlaw-9799	249	23	foreign	foreign	ADJ
taxlaw-9799	249	24	companies	company	NOUN
taxlaw-9799	249	25	and	and	CCONJ
taxlaw-9799	249	26	lines	line	NOUN
taxlaw-9799	249	27	of	of	ADP
taxlaw-9799	249	28	business	business	NOUN
taxlaw-9799	249	29	in	in	ADP
taxlaw-9799	249	30	preparation	preparation	NOUN
taxlaw-9799	249	31	for	for	ADP
taxlaw-9799	249	32	a	a	DET
taxlaw-9799	249	33	tax	tax	NOUN
taxlaw-9799	249	34	-	-	PUNCT
taxlaw-9799	249	35	free	free	ADJ
taxlaw-9799	249	36	spin	spin	NOUN
taxlaw-9799	249	37	-	-	PUNCT
taxlaw-9799	249	38	off	off	NOUN
taxlaw-9799	249	39	.	.	PUNCT
taxlaw-9799	250	1	b.	b.	PROPN
taxlaw-9799	250	2	section	section	NOUN
taxlaw-9799	250	3	355(e	355(e	PROPN
taxlaw-9799	250	4	):	):	PUNCT
taxlaw-9799	250	5	anti	anti	ADJ
taxlaw-9799	250	6	-	-	ADJ
taxlaw-9799	250	7	morris	morris	ADJ
taxlaw-9799	250	8	trust	trust	NOUN
taxlaw-9799	250	9	provision	provision	NOUN
taxlaw-9799	250	10	a	a	DET
taxlaw-9799	250	11	spin	spin	VERB
taxlaw-9799	250	12	-	-	PUNCT
taxlaw-9799	250	13	off	off	ADP
taxlaw-9799	250	14	transaction	transaction	NOUN
taxlaw-9799	250	15	will	will	AUX
taxlaw-9799	250	16	not	not	PART
taxlaw-9799	250	17	be	be	AUX
taxlaw-9799	250	18	tax	tax	NOUN
taxlaw-9799	250	19	-	-	PUNCT
taxlaw-9799	250	20	free	free	ADJ
taxlaw-9799	250	21	if	if	SCONJ
taxlaw-9799	250	22	the	the	DET
taxlaw-9799	250	23	distribution	distribution	NOUN
taxlaw-9799	250	24	is	be	AUX
taxlaw-9799	250	25	“	"	PUNCT
taxlaw-9799	250	26	part	part	NOUN
taxlaw-9799	250	27	of	of	ADP
taxlaw-9799	250	28	a	a	DET
taxlaw-9799	250	29	plan	plan	NOUN
taxlaw-9799	250	30	(	(	PUNCT
taxlaw-9799	250	31	or	or	CCONJ
taxlaw-9799	250	32	series	series	NOUN
taxlaw-9799	250	33	of	of	ADP
taxlaw-9799	250	34	related	related	ADJ
taxlaw-9799	250	35	transactions	transaction	NOUN
taxlaw-9799	250	36	)	)	PUNCT
taxlaw-9799	250	37	pursuant	pursuant	ADJ
taxlaw-9799	250	38	to	to	ADP
taxlaw-9799	250	39	which	which	PRON
taxlaw-9799	250	40	1	1	NUM
taxlaw-9799	250	41	or	or	CCONJ
taxlaw-9799	250	42	more	more	ADJ
taxlaw-9799	250	43	persons	person	NOUN
taxlaw-9799	250	44	acquire	acquire	VERB
taxlaw-9799	250	45	directly	directly	ADV
taxlaw-9799	250	46	or	or	CCONJ
taxlaw-9799	250	47	indirectly	indirectly	ADV
taxlaw-9799	250	48	stock	stock	NOUN
taxlaw-9799	250	49	representing	represent	VERB
taxlaw-9799	250	50	a	a	DET
taxlaw-9799	250	51	50[%	50[%	NUM
taxlaw-9799	250	52	]	]	PUNCT
taxlaw-9799	250	53	or	or	CCONJ
taxlaw-9799	250	54	greater	great	ADJ
taxlaw-9799	250	55	interest	interest	NOUN
taxlaw-9799	250	56	in	in	ADP
taxlaw-9799	250	57	the	the	DET
taxlaw-9799	250	58	distributing	distribute	VERB
taxlaw-9799	250	59	corporation	corporation	NOUN
taxlaw-9799	250	60	or	or	CCONJ
taxlaw-9799	250	61	any	any	DET
taxlaw-9799	250	62	controlled	control	VERB
taxlaw-9799	250	63	corporation	corporation	NOUN
taxlaw-9799	250	64	.	.	PUNCT
taxlaw-9799	251	1	”64	”64	VERB
taxlaw-9799	251	2	moreover	moreover	ADV
taxlaw-9799	251	3	,	,	PUNCT
taxlaw-9799	251	4	“	"	PUNCT
taxlaw-9799	251	5	[	[	X
taxlaw-9799	251	6	i]f	i]f	X
taxlaw-9799	251	7	1	1	NUM
taxlaw-9799	251	8	or	or	CCONJ
taxlaw-9799	251	9	more	more	ADJ
taxlaw-9799	251	10	persons	person	NOUN
taxlaw-9799	251	11	acquire	acquire	VERB
taxlaw-9799	251	12	directly	directly	ADV
taxlaw-9799	251	13	or	or	CCONJ
taxlaw-9799	251	14	indirectly	indirectly	ADV
taxlaw-9799	251	15	stock	stock	NOUN
taxlaw-9799	251	16	representing	represent	VERB
taxlaw-9799	251	17	a	a	DET
taxlaw-9799	251	18	50[%	50[%	NUM
taxlaw-9799	251	19	]	]	PUNCT
taxlaw-9799	251	20	or	or	CCONJ
taxlaw-9799	251	21	greater	great	ADJ
taxlaw-9799	251	22	interest	interest	NOUN
taxlaw-9799	251	23	in	in	ADP
taxlaw-9799	251	24	the	the	DET
taxlaw-9799	251	25	distributing	distribute	VERB
taxlaw-9799	251	26	corporation	corporation	NOUN
taxlaw-9799	251	27	or	or	CCONJ
taxlaw-9799	251	28	any	any	DET
taxlaw-9799	251	29	controlled	control	VERB
taxlaw-9799	251	30	corporation	corporation	NOUN
taxlaw-9799	251	31	during	during	ADP
taxlaw-9799	251	32	the	the	DET
taxlaw-9799	251	33	4	4	NUM
taxlaw-9799	251	34	-	-	PUNCT
taxlaw-9799	251	35	year	year	NOUN
taxlaw-9799	251	36	period	period	NOUN
taxlaw-9799	251	37	beginning	begin	VERB
taxlaw-9799	251	38	on	on	ADP
taxlaw-9799	251	39	the	the	DET
taxlaw-9799	251	40	date	date	NOUN
taxlaw-9799	251	41	which	which	PRON
taxlaw-9799	251	42	is	be	AUX
taxlaw-9799	251	43	2	2	NUM
taxlaw-9799	251	44	years	year	NOUN
taxlaw-9799	251	45	before	before	ADP
taxlaw-9799	251	46	the	the	DET
taxlaw-9799	251	47	date	date	NOUN
taxlaw-9799	251	48	of	of	ADP
taxlaw-9799	251	49	the	the	DET
taxlaw-9799	251	50	distribution	distribution	NOUN
taxlaw-9799	251	51	,	,	PUNCT
taxlaw-9799	251	52	such	such	ADJ
taxlaw-9799	251	53	acquisition	acquisition	NOUN
taxlaw-9799	251	54	shall	shall	AUX
taxlaw-9799	251	55	be	be	AUX
taxlaw-9799	251	56	”	"	PUNCT
taxlaw-9799	251	57	presumed	presume	VERB
taxlaw-9799	251	58	to	to	PART
taxlaw-9799	251	59	be	be	AUX
taxlaw-9799	251	60	pursuant	pursuant	ADJ
taxlaw-9799	251	61	to	to	ADP
taxlaw-9799	251	62	a	a	DET
taxlaw-9799	251	63	plan	plan	NOUN
taxlaw-9799	251	64	unless	unless	SCONJ
taxlaw-9799	251	65	the	the	DET
taxlaw-9799	251	66	taxpayer	taxpayer	NOUN
taxlaw-9799	251	67	can	can	AUX
taxlaw-9799	251	68	offer	offer	VERB
taxlaw-9799	251	69	evidence	evidence	NOUN
taxlaw-9799	251	70	to	to	ADP
taxlaw-9799	251	71	the	the	DET
taxlaw-9799	251	72	contrary.65	contrary.65	NOUN
taxlaw-9799	251	73	taxpayers	taxpayer	NOUN
taxlaw-9799	251	74	engaged	engage	VERB
taxlaw-9799	251	75	in	in	ADP
taxlaw-9799	251	76	so	so	ADV
taxlaw-9799	251	77	-	-	PUNCT
taxlaw-9799	251	78	called	call	VERB
taxlaw-9799	251	79	morris	morris	PROPN
taxlaw-9799	251	80	trust	trust	PROPN
taxlaw-9799	251	81	transactions66	transactions66	PROPN
taxlaw-9799	251	82	when	when	SCONJ
taxlaw-9799	251	83	they	they	PRON
taxlaw-9799	251	84	tried	try	VERB
taxlaw-9799	251	85	to	to	PART
taxlaw-9799	251	86	circumvent	circumvent	VERB
taxlaw-9799	251	87	the	the	DET
taxlaw-9799	251	88	repeal	repeal	NOUN
taxlaw-9799	251	89	of	of	ADP
taxlaw-9799	251	90	general	general	ADJ
taxlaw-9799	251	91	utilities	utility	NOUN
taxlaw-9799	251	92	by	by	ADP
taxlaw-9799	251	93	using	use	VERB
taxlaw-9799	251	94	spin	spin	NOUN
taxlaw-9799	251	95	-	-	PUNCT
taxlaw-9799	251	96	offs	off	NOUN
taxlaw-9799	251	97	to	to	PART
taxlaw-9799	251	98	dispose	dispose	VERB
taxlaw-9799	251	99	of	of	ADP
taxlaw-9799	251	100	unwanted	unwanted	ADJ
taxlaw-9799	251	101	businesses	business	NOUN
taxlaw-9799	251	102	in	in	ADP
taxlaw-9799	251	103	preparation	preparation	NOUN
taxlaw-9799	251	104	for	for	ADP
taxlaw-9799	251	105	a	a	DET
taxlaw-9799	251	106	tax	tax	NOUN
taxlaw-9799	251	107	-	-	PUNCT
taxlaw-9799	251	108	free	free	ADJ
taxlaw-9799	251	109	acquisition	acquisition	NOUN
taxlaw-9799	251	110	by	by	ADP
taxlaw-9799	251	111	another	another	DET
taxlaw-9799	251	112	62	62	NUM
taxlaw-9799	251	113	§	§	PROPN
taxlaw-9799	251	114	355(d)(2	355(d)(2	NUM
taxlaw-9799	251	115	)	)	PUNCT
taxlaw-9799	251	116	.	.	PUNCT
taxlaw-9799	252	1	63	63	NUM
taxlaw-9799	252	2	§	§	PROPN
taxlaw-9799	252	3	355(d	355(d	PROPN
taxlaw-9799	252	4	)	)	PUNCT
taxlaw-9799	252	5	;	;	PUNCT
taxlaw-9799	252	6	kahn	kahn	PROPN
taxlaw-9799	252	7	,	,	PUNCT
taxlaw-9799	252	8	supra	supra	PROPN
taxlaw-9799	252	9	note	note	NOUN
taxlaw-9799	252	10	60	60	NUM
taxlaw-9799	252	11	,	,	PUNCT
taxlaw-9799	252	12	at	at	ADP
taxlaw-9799	252	13	243	243	NUM
taxlaw-9799	252	14	.	.	PUNCT
taxlaw-9799	252	15	64	64	NUM
taxlaw-9799	252	16	§	§	PROPN
taxlaw-9799	252	17	355(e)(2	355(e)(2	NUM
taxlaw-9799	252	18	)	)	PUNCT
taxlaw-9799	252	19	.	.	PUNCT
taxlaw-9799	253	1	65	65	NUM
taxlaw-9799	254	1	i	i	PRON
taxlaw-9799	254	2	d.	d.	PROPN
taxlaw-9799	254	3	§	§	PROPN
taxlaw-9799	254	4	355(e)(2)(b	355(e)(2)(b	PROPN
taxlaw-9799	254	5	)	)	PUNCT
taxlaw-9799	254	6	.	.	PUNCT
taxlaw-9799	255	1	66	66	NUM
taxlaw-9799	255	2	see	see	VERB
taxlaw-9799	255	3	herbert	herbert	PROPN
taxlaw-9799	255	4	n.	n.	PROPN
taxlaw-9799	255	5	beller	beller	PROPN
taxlaw-9799	255	6	,	,	PUNCT
taxlaw-9799	255	7	section	section	NOUN
taxlaw-9799	255	8	355	355	NUM
taxlaw-9799	255	9	revisited	revisit	VERB
taxlaw-9799	255	10	:	:	PUNCT
taxlaw-9799	255	11	time	time	NOUN
taxlaw-9799	255	12	for	for	ADP
taxlaw-9799	255	13	a	a	DET
taxlaw-9799	255	14	major	major	ADJ
taxlaw-9799	255	15	overhaul	overhaul	NOUN
taxlaw-9799	255	16	?	?	PUNCT
taxlaw-9799	255	17	,	,	PUNCT
taxlaw-9799	255	18	72	72	NUM
taxlaw-9799	255	19	tax	tax	NOUN
taxlaw-9799	255	20	law	law	NOUN
taxlaw-9799	255	21	.	.	PUNCT
taxlaw-9799	256	1	131	131	NUM
taxlaw-9799	256	2	,	,	PUNCT
taxlaw-9799	256	3	149	149	NUM
taxlaw-9799	256	4	-	-	SYM
taxlaw-9799	256	5	50	50	NUM
taxlaw-9799	256	6	(	(	PUNCT
taxlaw-9799	256	7	2018	2018	NUM
taxlaw-9799	256	8	)	)	PUNCT
taxlaw-9799	256	9	(	(	PUNCT
taxlaw-9799	256	10	“	"	PUNCT
taxlaw-9799	256	11	long	long	ADV
taxlaw-9799	256	12	before	before	ADP
taxlaw-9799	256	13	the	the	DET
taxlaw-9799	256	14	enactment	enactment	NOUN
taxlaw-9799	256	15	of	of	ADP
taxlaw-9799	256	16	section	section	NOUN
taxlaw-9799	256	17	355(e	355(e	PROPN
taxlaw-9799	256	18	)	)	PUNCT
taxlaw-9799	256	19	,	,	PUNCT
taxlaw-9799	256	20	in	in	ADP
taxlaw-9799	256	21	commissioner	commissioner	PROPN
taxlaw-9799	256	22	v.	v.	PROPN
taxlaw-9799	256	23	morris	morris	PROPN
taxlaw-9799	256	24	trust	trust	PROPN
taxlaw-9799	256	25	,	,	PUNCT
taxlaw-9799	256	26	prior	prior	ADV
taxlaw-9799	256	27	to	to	ADP
taxlaw-9799	256	28	merging	merge	VERB
taxlaw-9799	256	29	into	into	ADP
taxlaw-9799	256	30	a	a	DET
taxlaw-9799	256	31	national	national	ADJ
taxlaw-9799	256	32	bank	bank	NOUN
taxlaw-9799	256	33	,	,	PUNCT
taxlaw-9799	256	34	a	a	DET
taxlaw-9799	256	35	state	state	NOUN
taxlaw-9799	256	36	banking	banking	NOUN
taxlaw-9799	256	37	corporation	corporation	NOUN
taxlaw-9799	256	38	spun	spin	VERB
taxlaw-9799	256	39	-	-	PUNCT
taxlaw-9799	256	40	off	off	NOUN
taxlaw-9799	256	41	an	an	DET
taxlaw-9799	256	42	unwanted	unwanted	ADJ
taxlaw-9799	256	43	insurance	insurance	NOUN
taxlaw-9799	256	44	department	department	NOUN
taxlaw-9799	256	45	that	that	SCONJ
taxlaw-9799	256	46	the	the	DET
taxlaw-9799	256	47	acquiring	acquire	VERB
taxlaw-9799	256	48	bank	bank	NOUN
taxlaw-9799	256	49	could	could	AUX
taxlaw-9799	256	50	not	not	PART
taxlaw-9799	256	51	legally	legally	ADV
taxlaw-9799	256	52	operate	operate	VERB
taxlaw-9799	256	53	under	under	ADP
taxlaw-9799	256	54	federal	federal	ADJ
taxlaw-9799	256	55	law	law	NOUN
taxlaw-9799	256	56	.	.	PUNCT
taxlaw-9799	257	1	the	the	DET
taxlaw-9799	257	2	post	post	ADJ
taxlaw-9799	257	3	-	-	ADJ
taxlaw-9799	257	4	spin	spin	ADJ
taxlaw-9799	257	5	statutory	statutory	ADJ
taxlaw-9799	257	6	merger	merger	NOUN
taxlaw-9799	257	7	separately	separately	ADV
taxlaw-9799	257	8	qualified	qualified	ADJ
taxlaw-9799	257	9	as	as	ADP
taxlaw-9799	257	10	a	a	DET
taxlaw-9799	257	11	type	type	NOUN
taxlaw-9799	257	12	‘	'	PUNCT
taxlaw-9799	257	13	a	a	DET
taxlaw-9799	257	14	’	'	PUNCT
taxlaw-9799	257	15	reorganization	reorganization	NOUN
taxlaw-9799	257	16	(	(	PUNCT
taxlaw-9799	257	17	under	under	ADP
taxlaw-9799	257	18	section	section	NOUN
taxlaw-9799	257	19	368(a)(1)(a	368(a)(1)(a	NUM
taxlaw-9799	257	20	)	)	PUNCT
taxlaw-9799	257	21	)	)	PUNCT
taxlaw-9799	257	22	,	,	PUNCT
taxlaw-9799	257	23	and	and	CCONJ
taxlaw-9799	257	24	,	,	PUNCT
taxlaw-9799	257	25	despite	despite	SCONJ
taxlaw-9799	257	26	its	its	PRON
taxlaw-9799	257	27	planned	plan	VERB
taxlaw-9799	257	28	occurrence	occurrence	NOUN
taxlaw-9799	257	29	immediately	immediately	ADV
taxlaw-9799	257	30	after	after	ADP
taxlaw-9799	257	31	the	the	DET
taxlaw-9799	257	32	spin	spin	NOUN
taxlaw-9799	257	33	-	-	PUNCT
taxlaw-9799	257	34	off	off	NOUN
taxlaw-9799	257	35	,	,	PUNCT
taxlaw-9799	257	36	the	the	DET
taxlaw-9799	257	37	disappearance	disappearance	NOUN
taxlaw-9799	257	38	of	of	ADP
taxlaw-9799	257	39	distributing	distribute	VERB
taxlaw-9799	257	40	pursuant	pursuant	NOUN
taxlaw-9799	257	41	to	to	ADP
taxlaw-9799	257	42	the	the	DET
taxlaw-9799	257	43	merger	merger	NOUN
taxlaw-9799	257	44	,	,	PUNCT
taxlaw-9799	257	45	and	and	CCONJ
taxlaw-9799	257	46	the	the	DET
taxlaw-9799	257	47	transfer	transfer	NOUN
taxlaw-9799	257	48	of	of	ADP
taxlaw-9799	257	49	its	its	PRON
taxlaw-9799	257	50	active	active	ADJ
taxlaw-9799	257	51	business	business	NOUN
taxlaw-9799	257	52	assets	asset	NOUN
taxlaw-9799	257	53	to	to	ADP
taxlaw-9799	257	54	the	the	DET
taxlaw-9799	257	55	acquiring	acquire	VERB
taxlaw-9799	257	56	corporation	corporation	NOUN
taxlaw-9799	257	57	,	,	PUNCT
taxlaw-9799	257	58	the	the	DET
taxlaw-9799	257	59	separate	separate	ADJ
taxlaw-9799	257	60	section	section	NOUN
taxlaw-9799	257	61	355	355	NUM
taxlaw-9799	257	62	qualification	qualification	NOUN
taxlaw-9799	257	63	of	of	ADP
taxlaw-9799	257	64	the	the	DET
taxlaw-9799	257	65	spin	spin	NOUN
taxlaw-9799	257	66	-	-	PUNCT
taxlaw-9799	257	67	off	off	NOUN
taxlaw-9799	257	68	was	be	AUX
taxlaw-9799	257	69	not	not	PART
taxlaw-9799	257	70	disturbed	disturb	VERB
taxlaw-9799	257	71	.	.	PUNCT
taxlaw-9799	258	1	consistent	consistent	ADJ
taxlaw-9799	258	2	with	with	ADP
taxlaw-9799	258	3	the	the	DET
taxlaw-9799	258	4	morris	morris	PROPN
taxlaw-9799	258	5	trust	trust	NOUN
taxlaw-9799	258	6	decision	decision	NOUN
taxlaw-9799	258	7	,	,	PUNCT
taxlaw-9799	258	8	similarly	similarly	ADV
taxlaw-9799	258	9	structured	structure	VERB
taxlaw-9799	258	10	transactions	transaction	NOUN
taxlaw-9799	258	11	subsequently	subsequently	ADV
taxlaw-9799	258	12	flourished	flourish	VERB
taxlaw-9799	258	13	with	with	ADP
taxlaw-9799	258	14	the	the	DET
taxlaw-9799	258	15	service	service	NOUN
taxlaw-9799	258	16	's	's	PART
taxlaw-9799	258	17	blessing	blessing	NOUN
taxlaw-9799	258	18	.	.	PUNCT
taxlaw-9799	259	1	section	section	NOUN
taxlaw-9799	259	2	355(e	355(e	PROPN
taxlaw-9799	259	3	)	)	PUNCT
taxlaw-9799	259	4	is	be	AUX
taxlaw-9799	259	5	often	often	ADV
taxlaw-9799	259	6	referred	refer	VERB
taxlaw-9799	259	7	to	to	ADP
taxlaw-9799	259	8	as	as	ADP
taxlaw-9799	259	9	the	the	DET
taxlaw-9799	259	10	‘	'	PUNCT
taxlaw-9799	259	11	anti	anti	ADJ
taxlaw-9799	259	12	-	-	ADJ
taxlaw-9799	259	13	morris	morris	ADJ
taxlaw-9799	259	14	trust	trust	NOUN
taxlaw-9799	259	15	provision	provision	NOUN
taxlaw-9799	259	16	.	.	PUNCT
taxlaw-9799	259	17	’	'	PUNCT
taxlaw-9799	260	1	that	that	DET
taxlaw-9799	260	2	label	label	NOUN
taxlaw-9799	260	3	stems	stem	VERB
taxlaw-9799	260	4	from	from	ADP
taxlaw-9799	260	5	certain	certain	ADJ
taxlaw-9799	260	6	high	high	ADJ
taxlaw-9799	260	7	profile	profile	NOUN
taxlaw-9799	260	8	morris	morris	PROPN
taxlaw-9799	260	9	trust	trust	NOUN
taxlaw-9799	260	10	transactions	transaction	NOUN
taxlaw-9799	260	11	during	during	ADP
taxlaw-9799	260	12	the	the	DET
taxlaw-9799	260	13	mid-1990s	mid-1990	NOUN
taxlaw-9799	260	14	that	that	PRON
taxlaw-9799	260	15	involved	involve	VERB
taxlaw-9799	260	16	substantial	substantial	ADJ
taxlaw-9799	260	17	pre	pre	ADJ
taxlaw-9799	260	18	-	-	ADJ
taxlaw-9799	260	19	spin	spin	ADJ
taxlaw-9799	260	20	borrowing	borrowing	NOUN
taxlaw-9799	260	21	by	by	ADP
taxlaw-9799	260	22	distributing	distribute	VERB
taxlaw-9799	260	23	or	or	CCONJ
taxlaw-9799	260	24	controlled	control	VERB
taxlaw-9799	260	25	and	and	CCONJ
taxlaw-9799	260	26	an	an	DET
taxlaw-9799	260	27	ultimate	ultimate	ADJ
taxlaw-9799	260	28	separation	separation	NOUN
taxlaw-9799	260	29	of	of	ADP
taxlaw-9799	260	30	the	the	DET
taxlaw-9799	260	31	borrowing	borrowing	NOUN
taxlaw-9799	260	32	proceeds	proceed	NOUN
taxlaw-9799	260	33	from	from	ADP
taxlaw-9799	260	34	the	the	DET
taxlaw-9799	260	35	debt	debt	NOUN
taxlaw-9799	260	36	obligation	obligation	NOUN
taxlaw-9799	260	37	(	(	PUNCT
taxlaw-9799	260	38	which	which	PRON
taxlaw-9799	260	39	was	be	AUX
taxlaw-9799	260	40	effectively	effectively	ADV
taxlaw-9799	260	41	assumed	assume	VERB
taxlaw-9799	260	42	by	by	ADP
taxlaw-9799	260	43	the	the	DET
taxlaw-9799	260	44	corporation	corporation	NOUN
taxlaw-9799	260	45	acquiring	acquire	VERB
taxlaw-9799	260	46	distributing	distribute	VERB
taxlaw-9799	260	47	or	or	CCONJ
taxlaw-9799	260	48	controlled	control	VERB
taxlaw-9799	260	49	as	as	ADP
taxlaw-9799	260	50	partial	partial	ADJ
taxlaw-9799	260	51	consideration	consideration	NOUN
taxlaw-9799	260	52	for	for	ADP
taxlaw-9799	260	53	the	the	DET
taxlaw-9799	260	54	acquisition	acquisition	NOUN
taxlaw-9799	260	55	)	)	PUNCT
taxlaw-9799	260	56	.	.	PUNCT
taxlaw-9799	261	1	it	it	PRON
taxlaw-9799	261	2	was	be	AUX
taxlaw-9799	261	3	the	the	DET
taxlaw-9799	261	4	leveraging	leverage	VERB
taxlaw-9799	261	5	features	feature	NOUN
taxlaw-9799	261	6	of	of	ADP
taxlaw-9799	261	7	these	these	DET
taxlaw-9799	261	8	transactions	transaction	NOUN
taxlaw-9799	261	9	that	that	PRON
taxlaw-9799	261	10	initially	initially	ADV
taxlaw-9799	261	11	caused	cause	VERB
taxlaw-9799	261	12	‘	'	PUNCT
taxlaw-9799	261	13	disguised	disguised	ADJ
taxlaw-9799	261	14	sale	sale	NOUN
taxlaw-9799	261	15	’	'	PUNCT
taxlaw-9799	261	16	concerns	concern	NOUN
taxlaw-9799	261	17	at	at	ADP
taxlaw-9799	261	18	treasury	treasury	NOUN
taxlaw-9799	261	19	.	.	PUNCT
taxlaw-9799	262	1	but	but	CCONJ
taxlaw-9799	262	2	as	as	ADV
taxlaw-9799	262	3	ultimately	ultimately	ADV
taxlaw-9799	262	4	enacted	enact	VERB
taxlaw-9799	262	5	,	,	PUNCT
taxlaw-9799	262	6	section	section	NOUN
taxlaw-9799	262	7	355(e	355(e	PROPN
taxlaw-9799	262	8	)	)	PUNCT
taxlaw-9799	262	9	applies	apply	VERB
taxlaw-9799	262	10	as	as	ADV
taxlaw-9799	262	11	well	well	ADV
taxlaw-9799	262	12	to	to	PART
taxlaw-9799	262	13	nonleveraged	nonleverage	VERB
taxlaw-9799	262	14	morris	morris	PROPN
taxlaw-9799	262	15	trust	trust	NOUN
taxlaw-9799	262	16	transactions	transaction	NOUN
taxlaw-9799	262	17	where	where	SCONJ
taxlaw-9799	262	18	the	the	DET
taxlaw-9799	262	19	50	50	NUM
taxlaw-9799	262	20	%	%	NOUN
taxlaw-9799	262	21	change	change	NOUN
taxlaw-9799	262	22	in	in	ADP
taxlaw-9799	262	23	ownership	ownership	NOUN
taxlaw-9799	262	24	threshold	threshold	NOUN
taxlaw-9799	262	25	is	be	AUX
taxlaw-9799	262	26	breached	breach	VERB
taxlaw-9799	262	27	and	and	CCONJ
taxlaw-9799	262	28	a	a	DET
taxlaw-9799	262	29	proscribed	proscribe	VERB
taxlaw-9799	262	30	‘	'	PUNCT
taxlaw-9799	262	31	plan	plan	NOUN
taxlaw-9799	262	32	’	'	PUNCT
taxlaw-9799	262	33	exists	exist	VERB
taxlaw-9799	262	34	.	.	PUNCT
taxlaw-9799	263	1	for	for	ADP
taxlaw-9799	263	2	that	that	PRON
taxlaw-9799	263	3	and	and	CCONJ
taxlaw-9799	263	4	other	other	ADJ
taxlaw-9799	263	5	reasons	reason	NOUN
taxlaw-9799	263	6	,	,	PUNCT
taxlaw-9799	263	7	the	the	DET
taxlaw-9799	263	8	provision	provision	NOUN
taxlaw-9799	263	9	has	have	AUX
taxlaw-9799	263	10	been	be	AUX
taxlaw-9799	263	11	criticized	criticize	VERB
taxlaw-9799	263	12	by	by	ADP
taxlaw-9799	263	13	bar	bar	NOUN
taxlaw-9799	263	14	groups	group	NOUN
taxlaw-9799	263	15	and	and	CCONJ
taxlaw-9799	263	16	other	other	ADJ
taxlaw-9799	263	17	commentators	commentator	NOUN
taxlaw-9799	263	18	as	as	ADV
taxlaw-9799	263	19	much	much	ADV
taxlaw-9799	263	20	broader	broad	ADJ
taxlaw-9799	263	21	than	than	ADP
taxlaw-9799	263	22	necessary	necessary	ADJ
taxlaw-9799	263	23	to	to	PART
taxlaw-9799	263	24	address	address	VERB
taxlaw-9799	263	25	the	the	DET
taxlaw-9799	263	26	perceived	perceive	VERB
taxlaw-9799	263	27	abusive	abusive	ADJ
taxlaw-9799	263	28	situations	situation	NOUN
taxlaw-9799	263	29	.	.	PUNCT
taxlaw-9799	263	30	”	"	PUNCT
taxlaw-9799	263	31	)	)	PUNCT
taxlaw-9799	263	32	.	.	PUNCT
taxlaw-9799	264	1	2022	2022	NUM
taxlaw-9799	264	2	]	]	PUNCT
taxlaw-9799	264	3	conglomerate	conglomerate	NOUN
taxlaw-9799	264	4	spin	spin	NOUN
taxlaw-9799	264	5	-	-	PUNCT
taxlaw-9799	264	6	offs	off	NOUN
taxlaw-9799	264	7	178	178	NUM
taxlaw-9799	264	8	corporation.67	corporation.67	NOUN
taxlaw-9799	264	9	congress	congress	PROPN
taxlaw-9799	264	10	enacted	enact	VERB
taxlaw-9799	264	11	section	section	NOUN
taxlaw-9799	264	12	355(e	355(e	PROPN
taxlaw-9799	264	13	)	)	PUNCT
taxlaw-9799	264	14	in	in	ADP
taxlaw-9799	264	15	1997	1997	NUM
taxlaw-9799	264	16	to	to	PART
taxlaw-9799	264	17	stymie	stymie	VERB
taxlaw-9799	264	18	such	such	ADJ
taxlaw-9799	264	19	transactions.68	transactions.68	NOUN
taxlaw-9799	264	20	but	but	CCONJ
taxlaw-9799	264	21	there	there	PRON
taxlaw-9799	264	22	are	be	VERB
taxlaw-9799	264	23	a	a	DET
taxlaw-9799	264	24	number	number	NOUN
taxlaw-9799	264	25	of	of	ADP
taxlaw-9799	264	26	safe	safe	ADJ
taxlaw-9799	264	27	harbors	harbor	NOUN
taxlaw-9799	264	28	that	that	PRON
taxlaw-9799	264	29	allow	allow	VERB
taxlaw-9799	264	30	conglomerate	conglomerate	NOUN
taxlaw-9799	264	31	corporations	corporation	NOUN
taxlaw-9799	264	32	to	to	PART
taxlaw-9799	264	33	evade	evade	VERB
taxlaw-9799	264	34	this	this	DET
taxlaw-9799	264	35	requirement	requirement	NOUN
taxlaw-9799	264	36	through	through	ADP
taxlaw-9799	264	37	careful	careful	ADJ
taxlaw-9799	264	38	tax	tax	NOUN
taxlaw-9799	264	39	planning.69	planning.69	NOUN
taxlaw-9799	264	40	because	because	SCONJ
taxlaw-9799	264	41	conglomerates	conglomerate	NOUN
taxlaw-9799	264	42	tend	tend	VERB
taxlaw-9799	264	43	to	to	PART
taxlaw-9799	264	44	engage	engage	VERB
taxlaw-9799	264	45	in	in	ADP
taxlaw-9799	264	46	frequent	frequent	ADJ
taxlaw-9799	264	47	mergers	merger	NOUN
taxlaw-9799	264	48	and	and	CCONJ
taxlaw-9799	264	49	acquisitions	acquisition	NOUN
taxlaw-9799	264	50	,	,	PUNCT
taxlaw-9799	264	51	careful	careful	ADJ
taxlaw-9799	264	52	navigation	navigation	NOUN
taxlaw-9799	264	53	of	of	ADP
taxlaw-9799	264	54	section	section	NOUN
taxlaw-9799	264	55	355(e	355(e	PROPN
taxlaw-9799	264	56	)	)	PUNCT
taxlaw-9799	264	57	is	be	AUX
taxlaw-9799	264	58	of	of	ADP
taxlaw-9799	264	59	particular	particular	ADJ
taxlaw-9799	264	60	importance	importance	NOUN
taxlaw-9799	264	61	for	for	SCONJ
taxlaw-9799	264	62	conglomerates	conglomerate	NOUN
taxlaw-9799	264	63	to	to	PART
taxlaw-9799	264	64	succeed	succeed	VERB
taxlaw-9799	264	65	in	in	ADP
taxlaw-9799	264	66	spinning	spin	VERB
taxlaw-9799	264	67	off	off	ADP
taxlaw-9799	264	68	a	a	DET
taxlaw-9799	264	69	business	business	NOUN
taxlaw-9799	264	70	unit	unit	NOUN
taxlaw-9799	264	71	tax	tax	NOUN
taxlaw-9799	264	72	-	-	PUNCT
taxlaw-9799	264	73	free	free	ADJ
taxlaw-9799	264	74	.	.	PUNCT
taxlaw-9799	265	1	3	3	X
taxlaw-9799	265	2	.	.	X
taxlaw-9799	265	3	nonstatutory	nonstatutory	ADJ
taxlaw-9799	265	4	requirements	requirement	NOUN
taxlaw-9799	265	5	a.	a.	NOUN
taxlaw-9799	265	6	corporate	corporate	ADJ
taxlaw-9799	265	7	business	business	NOUN
taxlaw-9799	265	8	purpose	purpose	NOUN
taxlaw-9799	265	9	conglomerates	conglomerate	NOUN
taxlaw-9799	265	10	have	have	VERB
taxlaw-9799	265	11	many	many	ADJ
taxlaw-9799	265	12	valid	valid	ADJ
taxlaw-9799	265	13	reasons	reason	NOUN
taxlaw-9799	265	14	for	for	ADP
taxlaw-9799	265	15	engaging	engage	VERB
taxlaw-9799	265	16	in	in	ADP
taxlaw-9799	265	17	spin	spin	NOUN
taxlaw-9799	265	18	-	-	PUNCT
taxlaw-9799	265	19	off	off	ADP
taxlaw-9799	265	20	transactions	transaction	NOUN
taxlaw-9799	265	21	that	that	PRON
taxlaw-9799	265	22	the	the	DET
taxlaw-9799	265	23	i.r.s	i.r.	NOUN
taxlaw-9799	265	24	.	.	PUNCT
taxlaw-9799	266	1	will	will	AUX
taxlaw-9799	266	2	respect	respect	VERB
taxlaw-9799	266	3	.	.	PUNCT
taxlaw-9799	267	1	the	the	DET
taxlaw-9799	267	2	section	section	NOUN
taxlaw-9799	267	3	355	355	NUM
taxlaw-9799	267	4	regulations	regulation	NOUN
taxlaw-9799	267	5	provide	provide	VERB
taxlaw-9799	267	6	that	that	SCONJ
taxlaw-9799	267	7	the	the	DET
taxlaw-9799	267	8	corporate	corporate	ADJ
taxlaw-9799	267	9	business	business	NOUN
taxlaw-9799	267	10	purpose	purpose	NOUN
taxlaw-9799	267	11	requirement	requirement	NOUN
taxlaw-9799	267	12	is	be	AUX
taxlaw-9799	267	13	independent	independent	ADJ
taxlaw-9799	267	14	of	of	ADP
taxlaw-9799	267	15	the	the	DET
taxlaw-9799	267	16	statutory	statutory	PROPN
taxlaw-9799	267	17	requirements.70	requirements.70	PROPN
taxlaw-9799	267	18	the	the	DET
taxlaw-9799	267	19	spin	spin	NOUN
taxlaw-9799	267	20	-	-	PUNCT
taxlaw-9799	267	21	off	off	NOUN
taxlaw-9799	267	22	must	must	AUX
taxlaw-9799	267	23	have	have	VERB
taxlaw-9799	267	24	a	a	DET
taxlaw-9799	267	25	“	"	PUNCT
taxlaw-9799	267	26	real	real	ADJ
taxlaw-9799	267	27	and	and	CCONJ
taxlaw-9799	267	28	substantial	substantial	ADJ
taxlaw-9799	267	29	non	non	ADJ
taxlaw-9799	267	30	federal	federal	ADJ
taxlaw-9799	267	31	tax	tax	NOUN
taxlaw-9799	267	32	purpose	purpose	NOUN
taxlaw-9799	267	33	germane	germane	NOUN
taxlaw-9799	267	34	to	to	ADP
taxlaw-9799	267	35	the	the	DET
taxlaw-9799	267	36	business	business	NOUN
taxlaw-9799	267	37	of	of	ADP
taxlaw-9799	267	38	the	the	DET
taxlaw-9799	267	39	distributing	distribute	VERB
taxlaw-9799	267	40	corporation	corporation	NOUN
taxlaw-9799	267	41	,	,	PUNCT
taxlaw-9799	267	42	the	the	DET
taxlaw-9799	267	43	controlled	control	VERB
taxlaw-9799	267	44	corporation	corporation	NOUN
taxlaw-9799	267	45	,	,	PUNCT
taxlaw-9799	267	46	or	or	CCONJ
taxlaw-9799	267	47	the	the	DET
taxlaw-9799	267	48	affiliated	affiliated	ADJ
taxlaw-9799	267	49	group	group	NOUN
taxlaw-9799	267	50	.	.	PUNCT
taxlaw-9799	268	1	”71	”71	PROPN
taxlaw-9799	268	2	valid	valid	ADJ
taxlaw-9799	268	3	corporate	corporate	ADJ
taxlaw-9799	268	4	business	business	NOUN
taxlaw-9799	268	5	purposes	purpose	NOUN
taxlaw-9799	268	6	include	include	VERB
taxlaw-9799	268	7	:	:	PUNCT
taxlaw-9799	268	8	resolution	resolution	NOUN
taxlaw-9799	268	9	of	of	ADP
taxlaw-9799	268	10	shareholder	shareholder	NOUN
taxlaw-9799	268	11	disputes	dispute	NOUN
taxlaw-9799	268	12	;	;	PUNCT
taxlaw-9799	268	13	enabling	enable	VERB
taxlaw-9799	268	14	management	management	NOUN
taxlaw-9799	268	15	to	to	PART
taxlaw-9799	268	16	focus	focus	VERB
taxlaw-9799	268	17	on	on	ADP
taxlaw-9799	268	18	core	core	NOUN
taxlaw-9799	268	19	businesses	business	NOUN
taxlaw-9799	268	20	while	while	SCONJ
taxlaw-9799	268	21	allocating	allocate	VERB
taxlaw-9799	268	22	to	to	ADP
taxlaw-9799	268	23	non	non	ADJ
taxlaw-9799	268	24	-	-	ADJ
taxlaw-9799	268	25	core	core	ADJ
taxlaw-9799	268	26	divisions	division	NOUN
taxlaw-9799	268	27	separate	separate	ADJ
taxlaw-9799	268	28	resources	resource	NOUN
taxlaw-9799	268	29	and	and	CCONJ
taxlaw-9799	268	30	managerial	managerial	ADJ
taxlaw-9799	268	31	attention	attention	NOUN
taxlaw-9799	268	32	to	to	PART
taxlaw-9799	268	33	increase	increase	VERB
taxlaw-9799	268	34	operating	operating	NOUN
taxlaw-9799	268	35	efficiencies	efficiency	NOUN
taxlaw-9799	268	36	and	and	CCONJ
taxlaw-9799	268	37	realize	realize	VERB
taxlaw-9799	268	38	greater	great	ADJ
taxlaw-9799	268	39	shareholder	shareholder	NOUN
taxlaw-9799	268	40	value	value	NOUN
taxlaw-9799	268	41	;	;	PUNCT
taxlaw-9799	268	42	maximizing	maximize	VERB
taxlaw-9799	268	43	shareholder	shareholder	NOUN
taxlaw-9799	268	44	value	value	NOUN
taxlaw-9799	268	45	in	in	ADP
taxlaw-9799	268	46	business	business	NOUN
taxlaw-9799	268	47	units	unit	NOUN
taxlaw-9799	268	48	that	that	PRON
taxlaw-9799	268	49	are	be	AUX
taxlaw-9799	268	50	particularly	particularly	ADV
taxlaw-9799	268	51	successful	successful	ADJ
taxlaw-9799	268	52	and	and	CCONJ
taxlaw-9799	268	53	have	have	VERB
taxlaw-9799	268	54	high	high	ADJ
taxlaw-9799	268	55	growth	growth	NOUN
taxlaw-9799	268	56	potential	potential	NOUN
taxlaw-9799	268	57	that	that	SCONJ
taxlaw-9799	268	58	the	the	DET
taxlaw-9799	268	59	market	market	NOUN
taxlaw-9799	268	60	may	may	AUX
taxlaw-9799	268	61	be	be	AUX
taxlaw-9799	268	62	undervaluing	undervalue	VERB
taxlaw-9799	268	63	because	because	SCONJ
taxlaw-9799	268	64	of	of	ADP
taxlaw-9799	268	65	their	their	PRON
taxlaw-9799	268	66	67	67	NUM
taxlaw-9799	268	67	see	see	NOUN
taxlaw-9799	268	68	azebu	azebu	NOUN
taxlaw-9799	268	69	et	et	PROPN
taxlaw-9799	268	70	al	al	PROPN
taxlaw-9799	268	71	.	.	PROPN
taxlaw-9799	268	72	,	,	PUNCT
taxlaw-9799	268	73	a	a	DET
taxlaw-9799	268	74	new	new	ADJ
taxlaw-9799	268	75	role	role	NOUN
taxlaw-9799	268	76	for	for	ADP
taxlaw-9799	268	77	the	the	DET
taxlaw-9799	268	78	device	device	NOUN
taxlaw-9799	268	79	test	test	NOUN
taxlaw-9799	268	80	?	?	PUNCT
taxlaw-9799	269	1	,	,	PUNCT
taxlaw-9799	269	2	150	150	NUM
taxlaw-9799	269	3	tax	tax	NOUN
taxlaw-9799	269	4	notes	note	NOUN
taxlaw-9799	269	5	1427	1427	NUM
taxlaw-9799	269	6	,	,	PUNCT
taxlaw-9799	269	7	1430	1430	NUM
taxlaw-9799	269	8	,	,	PUNCT
taxlaw-9799	269	9	1432	1432	NUM
taxlaw-9799	269	10	(	(	PUNCT
taxlaw-9799	269	11	mar	mar	PROPN
taxlaw-9799	269	12	.	.	PROPN
taxlaw-9799	269	13	21	21	NUM
taxlaw-9799	269	14	,	,	PUNCT
taxlaw-9799	269	15	2016	2016	NUM
taxlaw-9799	269	16	)	)	PUNCT
taxlaw-9799	269	17	(	(	PUNCT
taxlaw-9799	269	18	“	"	PUNCT
taxlaw-9799	269	19	in	in	ADP
taxlaw-9799	269	20	general	general	ADJ
taxlaw-9799	269	21	utilities	utility	NOUN
taxlaw-9799	269	22	,	,	PUNCT
taxlaw-9799	269	23	the	the	DET
taxlaw-9799	269	24	supreme	supreme	PROPN
taxlaw-9799	269	25	court	court	PROPN
taxlaw-9799	269	26	held	hold	VERB
taxlaw-9799	269	27	that	that	SCONJ
taxlaw-9799	269	28	corporations	corporation	NOUN
taxlaw-9799	269	29	could	could	AUX
taxlaw-9799	269	30	distribute	distribute	VERB
taxlaw-9799	269	31	appreciated	appreciated	ADJ
taxlaw-9799	269	32	property	property	NOUN
taxlaw-9799	269	33	to	to	ADP
taxlaw-9799	269	34	their	their	PRON
taxlaw-9799	269	35	shareholders	shareholder	NOUN
taxlaw-9799	269	36	tax	tax	NOUN
taxlaw-9799	269	37	free	free	ADJ
taxlaw-9799	269	38	.	.	PUNCT
taxlaw-9799	269	39	.	.	PUNCT
taxlaw-9799	269	40	.	.	PUNCT
taxlaw-9799	269	41	.	.	PUNCT
taxlaw-9799	270	1	the	the	DET
taxlaw-9799	270	2	tax	tax	NOUN
taxlaw-9799	270	3	reform	reform	PROPN
taxlaw-9799	270	4	act	act	NOUN
taxlaw-9799	270	5	of	of	ADP
taxlaw-9799	270	6	1986	1986	NUM
taxlaw-9799	270	7	added	add	VERB
taxlaw-9799	270	8	section	section	NOUN
taxlaw-9799	270	9	311(b	311(b	PROPN
taxlaw-9799	270	10	)	)	PUNCT
taxlaw-9799	270	11	,	,	PUNCT
taxlaw-9799	270	12	effectively	effectively	ADV
taxlaw-9799	270	13	repealing	repeal	VERB
taxlaw-9799	270	14	the	the	DET
taxlaw-9799	270	15	general	general	ADJ
taxlaw-9799	270	16	utilities	utility	NOUN
taxlaw-9799	270	17	doctrine	doctrine	NOUN
taxlaw-9799	270	18	.	.	PUNCT
taxlaw-9799	271	1	regarding	regard	VERB
taxlaw-9799	271	2	the	the	DET
taxlaw-9799	271	3	decision	decision	NOUN
taxlaw-9799	271	4	to	to	PART
taxlaw-9799	271	5	repeal	repeal	VERB
taxlaw-9799	271	6	general	general	ADJ
taxlaw-9799	271	7	utilities	utility	NOUN
taxlaw-9799	271	8	,	,	PUNCT
taxlaw-9799	271	9	the	the	DET
taxlaw-9799	271	10	house	house	PROPN
taxlaw-9799	271	11	committee	committee	PROPN
taxlaw-9799	271	12	report	report	NOUN
taxlaw-9799	271	13	states	state	VERB
taxlaw-9799	271	14	:	:	PUNCT
taxlaw-9799	271	15	‘	'	PUNCT
taxlaw-9799	271	16	the	the	DET
taxlaw-9799	271	17	general	general	ADJ
taxlaw-9799	271	18	utilities	utility	NOUN
taxlaw-9799	271	19	rule	rule	NOUN
taxlaw-9799	271	20	tends	tend	VERB
taxlaw-9799	271	21	to	to	PART
taxlaw-9799	271	22	undermine	undermine	VERB
taxlaw-9799	271	23	the	the	DET
taxlaw-9799	271	24	corporate	corporate	ADJ
taxlaw-9799	271	25	income	income	NOUN
taxlaw-9799	271	26	tax	tax	NOUN
taxlaw-9799	271	27	.	.	PUNCT
taxlaw-9799	272	1	under	under	ADP
taxlaw-9799	272	2	normally	normally	ADV
taxlaw-9799	272	3	applicable	applicable	ADJ
taxlaw-9799	272	4	tax	tax	NOUN
taxlaw-9799	272	5	principles	principle	NOUN
taxlaw-9799	272	6	,	,	PUNCT
taxlaw-9799	272	7	nonrecognition	nonrecognition	NOUN
taxlaw-9799	272	8	of	of	ADP
taxlaw-9799	272	9	gain	gain	NOUN
taxlaw-9799	272	10	is	be	AUX
taxlaw-9799	272	11	available	available	ADJ
taxlaw-9799	272	12	only	only	ADV
taxlaw-9799	272	13	if	if	SCONJ
taxlaw-9799	272	14	the	the	DET
taxlaw-9799	272	15	transferee	transferee	NOUN
taxlaw-9799	272	16	takes	take	VERB
taxlaw-9799	272	17	a	a	DET
taxlaw-9799	272	18	carryover	carryover	NOUN
taxlaw-9799	272	19	basis	basis	NOUN
taxlaw-9799	272	20	in	in	ADP
taxlaw-9799	272	21	the	the	DET
taxlaw-9799	272	22	transferred	transfer	VERB
taxlaw-9799	272	23	property	property	NOUN
taxlaw-9799	272	24	,	,	PUNCT
taxlaw-9799	272	25	thus	thus	ADV
taxlaw-9799	272	26	assuring	assure	VERB
taxlaw-9799	272	27	that	that	SCONJ
taxlaw-9799	272	28	a	a	DET
taxlaw-9799	272	29	tax	tax	NOUN
taxlaw-9799	272	30	will	will	AUX
taxlaw-9799	272	31	eventually	eventually	ADV
taxlaw-9799	272	32	be	be	AUX
taxlaw-9799	272	33	collected	collect	VERB
taxlaw-9799	272	34	on	on	ADP
taxlaw-9799	272	35	the	the	DET
taxlaw-9799	272	36	appreciation	appreciation	NOUN
taxlaw-9799	272	37	.	.	PUNCT
taxlaw-9799	273	1	where	where	SCONJ
taxlaw-9799	273	2	the	the	DET
taxlaw-9799	273	3	general	general	ADJ
taxlaw-9799	273	4	utilities	utility	NOUN
taxlaw-9799	273	5	rule	rule	VERB
taxlaw-9799	273	6	applies	apply	VERB
taxlaw-9799	273	7	,	,	PUNCT
taxlaw-9799	273	8	assets	asset	NOUN
taxlaw-9799	273	9	generally	generally	ADV
taxlaw-9799	273	10	are	be	AUX
taxlaw-9799	273	11	permitted	permit	VERB
taxlaw-9799	273	12	to	to	PART
taxlaw-9799	273	13	leave	leave	VERB
taxlaw-9799	273	14	corporate	corporate	ADJ
taxlaw-9799	273	15	solution	solution	NOUN
taxlaw-9799	273	16	and	and	CCONJ
taxlaw-9799	273	17	to	to	PART
taxlaw-9799	273	18	take	take	VERB
taxlaw-9799	273	19	a	a	DET
taxlaw-9799	273	20	stepped	step	VERB
taxlaw-9799	273	21	-	-	PUNCT
taxlaw-9799	273	22	up	up	ADP
taxlaw-9799	273	23	basis	basis	NOUN
taxlaw-9799	273	24	in	in	ADP
taxlaw-9799	273	25	the	the	DET
taxlaw-9799	273	26	hands	hand	NOUN
taxlaw-9799	273	27	of	of	ADP
taxlaw-9799	273	28	the	the	DET
taxlaw-9799	273	29	transferee	transferee	NOUN
taxlaw-9799	273	30	without	without	ADP
taxlaw-9799	273	31	the	the	DET
taxlaw-9799	273	32	imposition	imposition	NOUN
taxlaw-9799	273	33	of	of	ADP
taxlaw-9799	273	34	a	a	DET
taxlaw-9799	273	35	corporate	corporate	ADJ
taxlaw-9799	273	36	-	-	PUNCT
taxlaw-9799	273	37	level	level	NOUN
taxlaw-9799	273	38	tax	tax	NOUN
taxlaw-9799	273	39	.	.	PUNCT
taxlaw-9799	274	1	thus	thus	ADV
taxlaw-9799	274	2	,	,	PUNCT
taxlaw-9799	274	3	the	the	DET
taxlaw-9799	274	4	effect	effect	NOUN
taxlaw-9799	274	5	of	of	ADP
taxlaw-9799	274	6	the	the	DET
taxlaw-9799	274	7	rule	rule	NOUN
taxlaw-9799	274	8	is	be	AUX
taxlaw-9799	274	9	to	to	PART
taxlaw-9799	274	10	grant	grant	VERB
taxlaw-9799	274	11	a	a	DET
taxlaw-9799	274	12	permanent	permanent	ADJ
taxlaw-9799	274	13	exemption	exemption	NOUN
taxlaw-9799	274	14	from	from	ADP
taxlaw-9799	274	15	the	the	DET
taxlaw-9799	274	16	corporate	corporate	ADJ
taxlaw-9799	274	17	income	income	NOUN
taxlaw-9799	274	18	tax	tax	NOUN
taxlaw-9799	274	19	.	.	PUNCT
taxlaw-9799	274	20	’	'	PUNCT
taxlaw-9799	275	1	under	under	ADP
taxlaw-9799	275	2	section	section	NOUN
taxlaw-9799	275	3	311(b	311(b	PROPN
taxlaw-9799	275	4	)	)	PUNCT
taxlaw-9799	275	5	,	,	PUNCT
taxlaw-9799	275	6	if	if	SCONJ
taxlaw-9799	275	7	a	a	DET
taxlaw-9799	275	8	corporation	corporation	NOUN
taxlaw-9799	275	9	distributes	distribute	VERB
taxlaw-9799	275	10	appreciated	appreciated	ADJ
taxlaw-9799	275	11	property	property	NOUN
taxlaw-9799	275	12	to	to	ADP
taxlaw-9799	275	13	its	its	PRON
taxlaw-9799	275	14	shareholders	shareholder	NOUN
taxlaw-9799	275	15	,	,	PUNCT
taxlaw-9799	275	16	the	the	DET
taxlaw-9799	275	17	corporation	corporation	NOUN
taxlaw-9799	275	18	must	must	AUX
taxlaw-9799	275	19	recognize	recognize	VERB
taxlaw-9799	275	20	gain	gain	NOUN
taxlaw-9799	275	21	as	as	SCONJ
taxlaw-9799	275	22	if	if	SCONJ
taxlaw-9799	275	23	that	that	DET
taxlaw-9799	275	24	property	property	NOUN
taxlaw-9799	275	25	were	be	AUX
taxlaw-9799	275	26	sold	sell	VERB
taxlaw-9799	275	27	at	at	ADP
taxlaw-9799	275	28	its	its	PRON
taxlaw-9799	275	29	fmv	fmv	NOUN
taxlaw-9799	275	30	.	.	PUNCT
taxlaw-9799	276	1	thus	thus	ADV
taxlaw-9799	276	2	,	,	PUNCT
taxlaw-9799	276	3	following	follow	VERB
taxlaw-9799	276	4	the	the	DET
taxlaw-9799	276	5	repeal	repeal	NOUN
taxlaw-9799	276	6	of	of	ADP
taxlaw-9799	276	7	general	general	ADJ
taxlaw-9799	276	8	utilities	utility	NOUN
taxlaw-9799	276	9	,	,	PUNCT
taxlaw-9799	276	10	the	the	DET
taxlaw-9799	276	11	code	code	NOUN
taxlaw-9799	276	12	generally	generally	ADV
taxlaw-9799	276	13	imposes	impose	VERB
taxlaw-9799	276	14	two	two	NUM
taxlaw-9799	276	15	levels	level	NOUN
taxlaw-9799	276	16	of	of	ADP
taxlaw-9799	276	17	tax	tax	NOUN
taxlaw-9799	276	18	.	.	PUNCT
taxlaw-9799	276	19	.	.	PUNCT
taxlaw-9799	276	20	.	.	PUNCT
taxlaw-9799	277	1	on	on	ADP
taxlaw-9799	277	2	distributions	distribution	NOUN
taxlaw-9799	277	3	of	of	ADP
taxlaw-9799	277	4	appreciated	appreciated	ADJ
taxlaw-9799	277	5	property	property	NOUN
taxlaw-9799	277	6	,	,	PUNCT
taxlaw-9799	277	7	including	include	VERB
taxlaw-9799	277	8	stock	stock	NOUN
taxlaw-9799	277	9	,	,	PUNCT
taxlaw-9799	277	10	outside	outside	ADP
taxlaw-9799	277	11	corporate	corporate	ADJ
taxlaw-9799	277	12	solution	solution	NOUN
taxlaw-9799	277	13	.	.	PUNCT
taxlaw-9799	278	1	to	to	PART
taxlaw-9799	278	2	further	far	ADV
taxlaw-9799	278	3	combat	combat	VERB
taxlaw-9799	278	4	the	the	DET
taxlaw-9799	278	5	inevitable	inevitable	ADJ
taxlaw-9799	278	6	efforts	effort	NOUN
taxlaw-9799	278	7	of	of	ADP
taxlaw-9799	278	8	taxpayers	taxpayer	NOUN
taxlaw-9799	278	9	to	to	PART
taxlaw-9799	278	10	mitigate	mitigate	VERB
taxlaw-9799	278	11	this	this	DET
taxlaw-9799	278	12	double	double	ADJ
taxlaw-9799	278	13	taxation	taxation	NOUN
taxlaw-9799	278	14	,	,	PUNCT
taxlaw-9799	278	15	congress	congress	PROPN
taxlaw-9799	278	16	enacted	enact	VERB
taxlaw-9799	278	17	section	section	NOUN
taxlaw-9799	278	18	337(d	337(d	PROPN
taxlaw-9799	278	19	)	)	PUNCT
taxlaw-9799	278	20	,	,	PUNCT
taxlaw-9799	278	21	which	which	PRON
taxlaw-9799	278	22	provided	provide	VERB
taxlaw-9799	278	23	broad	broad	ADJ
taxlaw-9799	278	24	authority	authority	NOUN
taxlaw-9799	278	25	to	to	PART
taxlaw-9799	278	26	treasury	treasury	VERB
taxlaw-9799	278	27	to	to	PART
taxlaw-9799	278	28	issue	issue	VERB
taxlaw-9799	278	29	regulations	regulation	NOUN
taxlaw-9799	278	30	necessary	necessary	ADJ
taxlaw-9799	278	31	to	to	PART
taxlaw-9799	278	32	enforce	enforce	VERB
taxlaw-9799	278	33	the	the	DET
taxlaw-9799	278	34	principles	principle	NOUN
taxlaw-9799	278	35	of	of	ADP
taxlaw-9799	278	36	general	general	ADJ
taxlaw-9799	278	37	utilities	utility	NOUN
taxlaw-9799	278	38	repeal	repeal	NOUN
taxlaw-9799	278	39	.	.	PUNCT
taxlaw-9799	279	1	section	section	NOUN
taxlaw-9799	279	2	337(d	337(d	NUM
taxlaw-9799	279	3	)	)	PUNCT
taxlaw-9799	279	4	states	state	VERB
taxlaw-9799	279	5	that	that	SCONJ
taxlaw-9799	279	6	treasury	treasury	PROPN
taxlaw-9799	279	7	‘	'	PUNCT
taxlaw-9799	279	8	shall	shall	AUX
taxlaw-9799	279	9	prescribe	prescribe	VERB
taxlaw-9799	279	10	such	such	ADJ
taxlaw-9799	279	11	regulations	regulation	NOUN
taxlaw-9799	279	12	as	as	SCONJ
taxlaw-9799	279	13	may	may	AUX
taxlaw-9799	279	14	be	be	AUX
taxlaw-9799	279	15	necessary	necessary	ADJ
taxlaw-9799	279	16	or	or	CCONJ
taxlaw-9799	279	17	appropriate	appropriate	ADJ
taxlaw-9799	279	18	to	to	PART
taxlaw-9799	279	19	carry	carry	VERB
taxlaw-9799	279	20	out	out	ADP
taxlaw-9799	279	21	the	the	DET
taxlaw-9799	279	22	purposes	purpose	NOUN
taxlaw-9799	279	23	of	of	ADP
taxlaw-9799	279	24	’	'	PUNCT
taxlaw-9799	279	25	general	general	ADJ
taxlaw-9799	279	26	utilities	utility	NOUN
taxlaw-9799	279	27	repeal	repeal	NOUN
taxlaw-9799	279	28	,	,	PUNCT
taxlaw-9799	279	29	including	include	VERB
taxlaw-9799	279	30	‘	'	PUNCT
taxlaw-9799	279	31	regulations	regulation	NOUN
taxlaw-9799	279	32	to	to	PART
taxlaw-9799	279	33	ensure	ensure	VERB
taxlaw-9799	279	34	that	that	SCONJ
taxlaw-9799	279	35	such	such	ADJ
taxlaw-9799	279	36	purposes	purpose	NOUN
taxlaw-9799	279	37	may	may	AUX
taxlaw-9799	279	38	not	not	PART
taxlaw-9799	279	39	be	be	AUX
taxlaw-9799	279	40	circumvented	circumvent	VERB
taxlaw-9799	279	41	through	through	ADP
taxlaw-9799	279	42	the	the	DET
taxlaw-9799	279	43	use	use	NOUN
taxlaw-9799	279	44	of	of	ADP
taxlaw-9799	279	45	any	any	DET
taxlaw-9799	279	46	provision	provision	NOUN
taxlaw-9799	279	47	of	of	ADP
taxlaw-9799	279	48	law	law	NOUN
taxlaw-9799	279	49	or	or	CCONJ
taxlaw-9799	279	50	regulations	regulation	NOUN
taxlaw-9799	279	51	.	.	PUNCT
taxlaw-9799	279	52	.	.	PUNCT
taxlaw-9799	280	1	.	.	PUNCT
taxlaw-9799	281	1	or	or	CCONJ
taxlaw-9799	281	2	through	through	ADP
taxlaw-9799	281	3	the	the	DET
taxlaw-9799	281	4	use	use	NOUN
taxlaw-9799	281	5	of	of	ADP
taxlaw-9799	281	6	a	a	DET
taxlaw-9799	281	7	regulated	regulated	ADJ
taxlaw-9799	281	8	investment	investment	NOUN
taxlaw-9799	281	9	company	company	NOUN
taxlaw-9799	281	10	,	,	PUNCT
taxlaw-9799	281	11	real	real	ADJ
taxlaw-9799	281	12	estate	estate	NOUN
taxlaw-9799	281	13	investment	investment	NOUN
taxlaw-9799	281	14	trust	trust	NOUN
taxlaw-9799	281	15	,	,	PUNCT
taxlaw-9799	281	16	or	or	CCONJ
taxlaw-9799	281	17	tax	tax	NOUN
taxlaw-9799	281	18	-	-	PUNCT
taxlaw-9799	281	19	exempt	exempt	ADJ
taxlaw-9799	281	20	entity	entity	NOUN
taxlaw-9799	281	21	,	,	PUNCT
taxlaw-9799	281	22	’	'	PUNCT
taxlaw-9799	281	23	and	and	CCONJ
taxlaw-9799	281	24	‘	'	PUNCT
taxlaw-9799	281	25	regulations	regulation	NOUN
taxlaw-9799	281	26	providing	provide	VERB
taxlaw-9799	281	27	for	for	ADP
taxlaw-9799	281	28	appropriate	appropriate	ADJ
taxlaw-9799	281	29	coordination	coordination	NOUN
taxlaw-9799	281	30	of	of	ADP
taxlaw-9799	281	31	the	the	DET
taxlaw-9799	281	32	provisions	provision	NOUN
taxlaw-9799	281	33	of	of	ADP
taxlaw-9799	281	34	this	this	DET
taxlaw-9799	281	35	section	section	NOUN
taxlaw-9799	281	36	with	with	ADP
taxlaw-9799	281	37	the	the	DET
taxlaw-9799	281	38	provisions	provision	NOUN
taxlaw-9799	281	39	of	of	ADP
taxlaw-9799	281	40	this	this	DET
taxlaw-9799	281	41	title	title	NOUN
taxlaw-9799	281	42	relating	relate	VERB
taxlaw-9799	281	43	to	to	ADP
taxlaw-9799	281	44	taxation	taxation	NOUN
taxlaw-9799	281	45	of	of	ADP
taxlaw-9799	281	46	foreign	foreign	ADJ
taxlaw-9799	281	47	corporations	corporation	NOUN
taxlaw-9799	281	48	and	and	CCONJ
taxlaw-9799	281	49	their	their	PRON
taxlaw-9799	281	50	shareholders	shareholder	NOUN
taxlaw-9799	281	51	.	.	PUNCT
taxlaw-9799	281	52	’	'	PUNCT
taxlaw-9799	281	53	”	"	PUNCT
taxlaw-9799	281	54	)	)	PUNCT
taxlaw-9799	281	55	.	.	PUNCT
taxlaw-9799	282	1	68	68	NUM
taxlaw-9799	283	1	i	i	PRON
taxlaw-9799	283	2	d.	d.	PROPN
taxlaw-9799	283	3	69	69	NUM
taxlaw-9799	283	4	see	see	VERB
taxlaw-9799	283	5	spin	spin	NOUN
taxlaw-9799	283	6	-	-	PUNCT
taxlaw-9799	283	7	offs	off	NOUN
taxlaw-9799	283	8	:	:	PUNCT
taxlaw-9799	283	9	tax	tax	NOUN
taxlaw-9799	283	10	overview	overview	NOUN
taxlaw-9799	283	11	,	,	PUNCT
taxlaw-9799	283	12	supra	supra	PROPN
taxlaw-9799	283	13	note	note	NOUN
taxlaw-9799	283	14	36	36	NUM
taxlaw-9799	283	15	(	(	PUNCT
taxlaw-9799	283	16	describing	describe	VERB
taxlaw-9799	283	17	ten	ten	NUM
taxlaw-9799	283	18	types	type	NOUN
taxlaw-9799	283	19	of	of	ADP
taxlaw-9799	283	20	safe	safe	ADJ
taxlaw-9799	283	21	harbors	harbor	NOUN
taxlaw-9799	283	22	under	under	ADP
taxlaw-9799	283	23	section	section	NOUN
taxlaw-9799	283	24	355(e	355(e	PROPN
taxlaw-9799	283	25	)	)	PUNCT
taxlaw-9799	283	26	)	)	PUNCT
taxlaw-9799	283	27	.	.	PUNCT
taxlaw-9799	284	1	70	70	NUM
taxlaw-9799	285	1	§	§	PROPN
taxlaw-9799	285	2	1.355	1.355	NUM
taxlaw-9799	285	3	-	-	PUNCT
taxlaw-9799	285	4	2(b)(1	2(b)(1	NUM
taxlaw-9799	285	5	)	)	PUNCT
taxlaw-9799	285	6	.	.	PUNCT
taxlaw-9799	286	1	71	71	NUM
taxlaw-9799	287	1	§	§	NOUN
taxlaw-9799	287	2	1.355	1.355	NUM
taxlaw-9799	287	3	-	-	SYM
taxlaw-9799	287	4	2(b)(2	2(b)(2	NUM
taxlaw-9799	287	5	)	)	PUNCT
taxlaw-9799	287	6	.	.	PUNCT
taxlaw-9799	288	1	179	179	NUM
taxlaw-9799	288	2	columbia	columbia	PROPN
taxlaw-9799	288	3	journal	journal	PROPN
taxlaw-9799	288	4	of	of	ADP
taxlaw-9799	288	5	tax	tax	NOUN
taxlaw-9799	288	6	law	law	NOUN
taxlaw-9799	289	1	[	[	X
taxlaw-9799	289	2	vol	vol	NOUN
taxlaw-9799	289	3	:	:	PUNCT
taxlaw-9799	289	4	13:2	13:2	NUM
taxlaw-9799	289	5	affiliation	affiliation	NOUN
taxlaw-9799	289	6	with	with	ADP
taxlaw-9799	289	7	slow	slow	ADJ
taxlaw-9799	289	8	-	-	PUNCT
taxlaw-9799	289	9	growth	growth	NOUN
taxlaw-9799	289	10	or	or	CCONJ
taxlaw-9799	289	11	declining	decline	VERB
taxlaw-9799	289	12	business	business	NOUN
taxlaw-9799	289	13	units	unit	NOUN
taxlaw-9799	289	14	;	;	PUNCT
taxlaw-9799	289	15	allowing	allow	VERB
taxlaw-9799	289	16	the	the	DET
taxlaw-9799	289	17	adjustment	adjustment	NOUN
taxlaw-9799	289	18	of	of	ADP
taxlaw-9799	289	19	executive	executive	NOUN
taxlaw-9799	289	20	and	and	CCONJ
taxlaw-9799	289	21	employee	employee	NOUN
taxlaw-9799	289	22	compensation	compensation	NOUN
taxlaw-9799	289	23	packages	package	NOUN
taxlaw-9799	289	24	in	in	ADP
taxlaw-9799	289	25	more	more	ADV
taxlaw-9799	289	26	narrow	narrow	ADJ
taxlaw-9799	289	27	business	business	NOUN
taxlaw-9799	289	28	units	unit	NOUN
taxlaw-9799	289	29	;	;	PUNCT
taxlaw-9799	289	30	separating	separate	VERB
taxlaw-9799	289	31	a	a	DET
taxlaw-9799	289	32	subsidiary	subsidiary	NOUN
taxlaw-9799	289	33	in	in	ADP
taxlaw-9799	289	34	preparation	preparation	NOUN
taxlaw-9799	289	35	for	for	ADP
taxlaw-9799	289	36	a	a	DET
taxlaw-9799	289	37	sale	sale	NOUN
taxlaw-9799	289	38	to	to	ADP
taxlaw-9799	289	39	a	a	DET
taxlaw-9799	289	40	third	third	ADJ
taxlaw-9799	289	41	party	party	NOUN
taxlaw-9799	289	42	;	;	PUNCT
taxlaw-9799	289	43	disposing	dispose	VERB
taxlaw-9799	289	44	of	of	ADP
taxlaw-9799	289	45	businesses	business	NOUN
taxlaw-9799	289	46	that	that	PRON
taxlaw-9799	289	47	no	no	ADV
taxlaw-9799	289	48	longer	long	ADV
taxlaw-9799	289	49	fit	fit	ADJ
taxlaw-9799	289	50	within	within	ADP
taxlaw-9799	289	51	the	the	DET
taxlaw-9799	289	52	business	business	NOUN
taxlaw-9799	289	53	plan	plan	NOUN
taxlaw-9799	289	54	and	and	CCONJ
taxlaw-9799	289	55	that	that	PRON
taxlaw-9799	289	56	may	may	AUX
taxlaw-9799	289	57	be	be	AUX
taxlaw-9799	289	58	illiquid	illiquid	ADJ
taxlaw-9799	289	59	or	or	CCONJ
taxlaw-9799	289	60	lack	lack	VERB
taxlaw-9799	289	61	a	a	DET
taxlaw-9799	289	62	fair	fair	ADJ
taxlaw-9799	289	63	current	current	ADJ
taxlaw-9799	289	64	market	market	NOUN
taxlaw-9799	289	65	valuation	valuation	NOUN
taxlaw-9799	289	66	;	;	PUNCT
taxlaw-9799	289	67	permitting	permit	VERB
taxlaw-9799	289	68	spinco	spinco	NOUN
taxlaw-9799	289	69	to	to	PART
taxlaw-9799	289	70	raise	raise	VERB
taxlaw-9799	289	71	capital	capital	NOUN
taxlaw-9799	289	72	by	by	ADP
taxlaw-9799	289	73	seeking	seek	VERB
taxlaw-9799	289	74	financing	financing	NOUN
taxlaw-9799	289	75	separately	separately	ADV
taxlaw-9799	289	76	;	;	PUNCT
taxlaw-9799	289	77	defending	defend	VERB
taxlaw-9799	289	78	from	from	ADP
taxlaw-9799	289	79	a	a	DET
taxlaw-9799	289	80	takeover	takeover	NOUN
taxlaw-9799	289	81	by	by	ADP
taxlaw-9799	289	82	spinning	spin	VERB
taxlaw-9799	289	83	off	off	ADP
taxlaw-9799	289	84	a	a	DET
taxlaw-9799	289	85	valuable	valuable	ADJ
taxlaw-9799	289	86	subsidiary	subsidiary	NOUN
taxlaw-9799	289	87	,	,	PUNCT
taxlaw-9799	289	88	thus	thus	ADV
taxlaw-9799	289	89	rendering	render	VERB
taxlaw-9799	289	90	the	the	DET
taxlaw-9799	289	91	parent	parent	NOUN
taxlaw-9799	289	92	less	less	ADV
taxlaw-9799	289	93	attractive	attractive	ADJ
taxlaw-9799	289	94	as	as	ADP
taxlaw-9799	289	95	a	a	DET
taxlaw-9799	289	96	hostile	hostile	ADJ
taxlaw-9799	289	97	takeover	takeover	NOUN
taxlaw-9799	289	98	target	target	NOUN
taxlaw-9799	289	99	;	;	PUNCT
taxlaw-9799	289	100	complying	comply	VERB
taxlaw-9799	289	101	with	with	ADP
taxlaw-9799	289	102	antitrust	antitrust	ADJ
taxlaw-9799	289	103	or	or	CCONJ
taxlaw-9799	289	104	other	other	ADJ
taxlaw-9799	289	105	regulatory	regulatory	ADJ
taxlaw-9799	289	106	decrees	decree	NOUN
taxlaw-9799	289	107	by	by	ADP
taxlaw-9799	289	108	changing	change	VERB
taxlaw-9799	289	109	the	the	DET
taxlaw-9799	289	110	structure	structure	NOUN
taxlaw-9799	289	111	and	and	CCONJ
taxlaw-9799	289	112	regulatory	regulatory	ADJ
taxlaw-9799	289	113	regimes	regime	NOUN
taxlaw-9799	289	114	to	to	PART
taxlaw-9799	289	115	which	which	PRON
taxlaw-9799	289	116	the	the	DET
taxlaw-9799	289	117	parent	parent	NOUN
taxlaw-9799	289	118	and	and	CCONJ
taxlaw-9799	289	119	spinco	spinco	NOUN
taxlaw-9799	289	120	are	be	AUX
taxlaw-9799	289	121	subject	subject	ADJ
taxlaw-9799	289	122	;	;	PUNCT
taxlaw-9799	289	123	removing	remove	VERB
taxlaw-9799	289	124	conflicts	conflict	NOUN
taxlaw-9799	289	125	among	among	ADP
taxlaw-9799	289	126	different	different	ADJ
taxlaw-9799	289	127	lines	line	NOUN
taxlaw-9799	289	128	of	of	ADP
taxlaw-9799	289	129	business	business	NOUN
taxlaw-9799	289	130	;	;	PUNCT
taxlaw-9799	289	131	providing	provide	VERB
taxlaw-9799	289	132	employees	employee	NOUN
taxlaw-9799	289	133	with	with	ADP
taxlaw-9799	289	134	an	an	DET
taxlaw-9799	289	135	equity	equity	NOUN
taxlaw-9799	289	136	interest	interest	NOUN
taxlaw-9799	289	137	;	;	PUNCT
taxlaw-9799	289	138	facilitating	facilitate	VERB
taxlaw-9799	289	139	a	a	DET
taxlaw-9799	289	140	stock	stock	NOUN
taxlaw-9799	289	141	offering	offering	NOUN
taxlaw-9799	289	142	,	,	PUNCT
taxlaw-9799	289	143	borrowing	borrowing	NOUN
taxlaw-9799	289	144	or	or	CCONJ
taxlaw-9799	289	145	an	an	DET
taxlaw-9799	289	146	acquisition	acquisition	NOUN
taxlaw-9799	289	147	of	of	ADP
taxlaw-9799	289	148	either	either	CCONJ
taxlaw-9799	289	149	the	the	DET
taxlaw-9799	289	150	parent	parent	NOUN
taxlaw-9799	289	151	or	or	CCONJ
taxlaw-9799	289	152	spinco	spinco	NOUN
taxlaw-9799	289	153	;	;	PUNCT
taxlaw-9799	289	154	generating	generate	VERB
taxlaw-9799	289	155	significant	significant	ADJ
taxlaw-9799	289	156	cost	cost	NOUN
taxlaw-9799	289	157	savings	saving	NOUN
taxlaw-9799	289	158	;	;	PUNCT
taxlaw-9799	289	159	enhancing	enhance	VERB
taxlaw-9799	289	160	fit	fit	ADJ
taxlaw-9799	289	161	and	and	CCONJ
taxlaw-9799	289	162	focus	focus	VERB
taxlaw-9799	289	163	;	;	PUNCT
taxlaw-9799	289	164	solving	solve	VERB
taxlaw-9799	289	165	competitive	competitive	ADJ
taxlaw-9799	289	166	concerns	concern	NOUN
taxlaw-9799	289	167	;	;	PUNCT
taxlaw-9799	289	168	and	and	CCONJ
taxlaw-9799	289	169	risk	risk	NOUN
taxlaw-9799	289	170	reduction	reduction	NOUN
taxlaw-9799	289	171	by	by	ADP
taxlaw-9799	289	172	shielding	shield	VERB
taxlaw-9799	289	173	one	one	NUM
taxlaw-9799	289	174	business	business	NOUN
taxlaw-9799	289	175	from	from	ADP
taxlaw-9799	289	176	the	the	DET
taxlaw-9799	289	177	risks	risk	NOUN
taxlaw-9799	289	178	of	of	ADP
taxlaw-9799	289	179	another.72	another.72	NOUN
taxlaw-9799	289	180	the	the	DET
taxlaw-9799	289	181	business	business	NOUN
taxlaw-9799	289	182	purpose	purpose	NOUN
taxlaw-9799	289	183	must	must	AUX
taxlaw-9799	289	184	be	be	AUX
taxlaw-9799	289	185	a	a	DET
taxlaw-9799	289	186	proper	proper	ADJ
taxlaw-9799	289	187	,	,	PUNCT
taxlaw-9799	289	188	corporate	corporate	ADJ
taxlaw-9799	289	189	-	-	PUNCT
taxlaw-9799	289	190	level	level	NOUN
taxlaw-9799	289	191	—	—	PUNCT
taxlaw-9799	289	192	as	as	SCONJ
taxlaw-9799	289	193	opposed	oppose	VERB
taxlaw-9799	289	194	to	to	ADP
taxlaw-9799	289	195	a	a	DET
taxlaw-9799	289	196	purely	purely	ADV
taxlaw-9799	289	197	shareholder	shareholder	NOUN
taxlaw-9799	289	198	-	-	PUNCT
taxlaw-9799	289	199	level	level	NOUN
taxlaw-9799	289	200	—	—	PUNCT
taxlaw-9799	289	201	motivation	motivation	NOUN
taxlaw-9799	289	202	.	.	PUNCT
taxlaw-9799	290	1	moreover	moreover	ADV
taxlaw-9799	290	2	,	,	PUNCT
taxlaw-9799	290	3	the	the	DET
taxlaw-9799	290	4	reduction	reduction	NOUN
taxlaw-9799	290	5	of	of	ADP
taxlaw-9799	290	6	non	non	ADJ
taxlaw-9799	290	7	-	-	ADJ
taxlaw-9799	290	8	federal	federal	ADJ
taxlaw-9799	290	9	tax	tax	NOUN
taxlaw-9799	290	10	may	may	AUX
taxlaw-9799	290	11	be	be	AUX
taxlaw-9799	290	12	a	a	DET
taxlaw-9799	290	13	valid	valid	ADJ
taxlaw-9799	290	14	corporate	corporate	ADJ
taxlaw-9799	290	15	business	business	NOUN
taxlaw-9799	290	16	purpose	purpose	NOUN
taxlaw-9799	290	17	only	only	ADV
taxlaw-9799	290	18	if	if	SCONJ
taxlaw-9799	290	19	the	the	DET
taxlaw-9799	290	20	transaction	transaction	NOUN
taxlaw-9799	290	21	does	do	AUX
taxlaw-9799	290	22	not	not	PART
taxlaw-9799	290	23	result	result	VERB
taxlaw-9799	290	24	in	in	ADP
taxlaw-9799	290	25	a	a	DET
taxlaw-9799	290	26	reduction	reduction	NOUN
taxlaw-9799	290	27	of	of	ADP
taxlaw-9799	290	28	federal	federal	ADJ
taxlaw-9799	290	29	and	and	CCONJ
taxlaw-9799	290	30	non	non	ADJ
taxlaw-9799	290	31	-	-	ADJ
taxlaw-9799	290	32	federal	federal	ADJ
taxlaw-9799	290	33	taxes	taxis	NOUN
taxlaw-9799	290	34	because	because	SCONJ
taxlaw-9799	290	35	of	of	ADP
taxlaw-9799	290	36	similarities	similarity	NOUN
taxlaw-9799	290	37	in	in	ADP
taxlaw-9799	290	38	their	their	PRON
taxlaw-9799	290	39	respective	respective	ADJ
taxlaw-9799	290	40	laws	law	NOUN
taxlaw-9799	290	41	or	or	CCONJ
taxlaw-9799	290	42	the	the	DET
taxlaw-9799	290	43	reduction	reduction	NOUN
taxlaw-9799	290	44	of	of	ADP
taxlaw-9799	290	45	federal	federal	ADJ
taxlaw-9799	290	46	tax	tax	NOUN
taxlaw-9799	290	47	exceeds	exceed	VERB
taxlaw-9799	290	48	the	the	DET
taxlaw-9799	290	49	reduction	reduction	NOUN
taxlaw-9799	290	50	of	of	ADP
taxlaw-9799	290	51	non	non	ADJ
taxlaw-9799	290	52	-	-	ADJ
taxlaw-9799	290	53	federal	federal	ADJ
taxlaw-9799	290	54	tax.73	tax.73	NOUN
taxlaw-9799	290	55	in	in	ADP
taxlaw-9799	290	56	addition	addition	NOUN
taxlaw-9799	290	57	,	,	PUNCT
taxlaw-9799	290	58	a	a	DET
taxlaw-9799	290	59	business	business	NOUN
taxlaw-9799	290	60	purpose	purpose	NOUN
taxlaw-9799	290	61	fails	fail	VERB
taxlaw-9799	290	62	if	if	SCONJ
taxlaw-9799	290	63	the	the	DET
taxlaw-9799	290	64	same	same	ADJ
taxlaw-9799	290	65	objectives	objective	NOUN
taxlaw-9799	290	66	can	can	AUX
taxlaw-9799	290	67	be	be	AUX
taxlaw-9799	290	68	met	meet	VERB
taxlaw-9799	290	69	through	through	ADP
taxlaw-9799	290	70	a	a	DET
taxlaw-9799	290	71	non	non	ADJ
taxlaw-9799	290	72	-	-	ADJ
taxlaw-9799	290	73	taxable	taxable	ADJ
taxlaw-9799	290	74	transaction	transaction	NOUN
taxlaw-9799	290	75	that	that	PRON
taxlaw-9799	290	76	does	do	AUX
taxlaw-9799	290	77	not	not	PART
taxlaw-9799	290	78	require	require	VERB
taxlaw-9799	290	79	the	the	DET
taxlaw-9799	290	80	distribution	distribution	NOUN
taxlaw-9799	290	81	of	of	ADP
taxlaw-9799	290	82	stock	stock	NOUN
taxlaw-9799	290	83	.	.	PUNCT
taxlaw-9799	291	1	for	for	ADP
taxlaw-9799	291	2	example	example	NOUN
taxlaw-9799	291	3	,	,	PUNCT
taxlaw-9799	291	4	if	if	SCONJ
taxlaw-9799	291	5	creating	create	VERB
taxlaw-9799	291	6	a	a	DET
taxlaw-9799	291	7	subsidiary	subsidiary	NOUN
taxlaw-9799	291	8	rather	rather	ADV
taxlaw-9799	291	9	than	than	ADP
taxlaw-9799	291	10	spinning	spin	VERB
taxlaw-9799	291	11	off	off	ADP
taxlaw-9799	291	12	a	a	DET
taxlaw-9799	291	13	business	business	NOUN
taxlaw-9799	291	14	unit	unit	NOUN
taxlaw-9799	291	15	is	be	AUX
taxlaw-9799	291	16	a	a	DET
taxlaw-9799	291	17	convenient	convenient	ADJ
taxlaw-9799	291	18	alternative	alternative	ADJ
taxlaw-9799	291	19	mechanism	mechanism	NOUN
taxlaw-9799	291	20	that	that	PRON
taxlaw-9799	291	21	is	be	AUX
taxlaw-9799	291	22	“	"	PUNCT
taxlaw-9799	291	23	neither	neither	CCONJ
taxlaw-9799	291	24	impractical	impractical	ADJ
taxlaw-9799	291	25	nor	nor	CCONJ
taxlaw-9799	291	26	unduly	unduly	ADV
taxlaw-9799	291	27	expensive	expensive	ADJ
taxlaw-9799	291	28	,	,	PUNCT
taxlaw-9799	291	29	”	"	PUNCT
taxlaw-9799	291	30	the	the	DET
taxlaw-9799	291	31	transaction	transaction	NOUN
taxlaw-9799	291	32	will	will	AUX
taxlaw-9799	291	33	fail	fail	VERB
taxlaw-9799	291	34	the	the	DET
taxlaw-9799	291	35	business	business	NOUN
taxlaw-9799	291	36	purpose	purpose	NOUN
taxlaw-9799	291	37	requirement.74	requirement.74	VERB
taxlaw-9799	291	38	thus	thus	ADV
taxlaw-9799	291	39	,	,	PUNCT
taxlaw-9799	291	40	the	the	DET
taxlaw-9799	291	41	government	government	NOUN
taxlaw-9799	291	42	requires	require	VERB
taxlaw-9799	291	43	that	that	SCONJ
taxlaw-9799	291	44	businesses	business	NOUN
taxlaw-9799	291	45	wishing	wish	VERB
taxlaw-9799	291	46	to	to	PART
taxlaw-9799	291	47	take	take	VERB
taxlaw-9799	291	48	advantage	advantage	NOUN
taxlaw-9799	291	49	of	of	ADP
taxlaw-9799	291	50	tax	tax	NOUN
taxlaw-9799	291	51	-	-	PUNCT
taxlaw-9799	291	52	free	free	ADJ
taxlaw-9799	291	53	treatment	treatment	NOUN
taxlaw-9799	291	54	articulate	articulate	VERB
taxlaw-9799	291	55	a	a	DET
taxlaw-9799	291	56	business	business	NOUN
taxlaw-9799	291	57	reason	reason	NOUN
taxlaw-9799	291	58	for	for	ADP
taxlaw-9799	291	59	the	the	DET
taxlaw-9799	291	60	spin	spin	NOUN
taxlaw-9799	291	61	-	-	PUNCT
taxlaw-9799	291	62	off	off	NOUN
taxlaw-9799	291	63	.	.	PUNCT
taxlaw-9799	292	1	out	out	ADP
taxlaw-9799	292	2	of	of	ADP
taxlaw-9799	292	3	concern	concern	NOUN
taxlaw-9799	292	4	that	that	SCONJ
taxlaw-9799	292	5	taxpayers	taxpayer	NOUN
taxlaw-9799	292	6	like	like	ADP
taxlaw-9799	292	7	gregory	gregory	PROPN
taxlaw-9799	292	8	will	will	AUX
taxlaw-9799	292	9	exploit	exploit	VERB
taxlaw-9799	292	10	the	the	DET
taxlaw-9799	292	11	spin	spin	VERB
taxlaw-9799	292	12	-	-	PUNCT
taxlaw-9799	292	13	off	off	ADP
taxlaw-9799	292	14	rules	rule	NOUN
taxlaw-9799	292	15	to	to	PART
taxlaw-9799	292	16	avoid	avoid	VERB
taxlaw-9799	292	17	paying	pay	VERB
taxlaw-9799	292	18	corporatelevel	corporatelevel	ADJ
taxlaw-9799	292	19	taxes	taxis	NOUN
taxlaw-9799	292	20	,	,	PUNCT
taxlaw-9799	292	21	the	the	DET
taxlaw-9799	292	22	government	government	NOUN
taxlaw-9799	292	23	requires	require	VERB
taxlaw-9799	292	24	that	that	SCONJ
taxlaw-9799	292	25	companies	company	NOUN
taxlaw-9799	292	26	state	state	VERB
taxlaw-9799	292	27	that	that	SCONJ
taxlaw-9799	292	28	the	the	DET
taxlaw-9799	292	29	spin	spin	NOUN
taxlaw-9799	292	30	-	-	PUNCT
taxlaw-9799	292	31	off	off	NOUN
taxlaw-9799	292	32	be	be	AUX
taxlaw-9799	292	33	motivated	motivate	VERB
taxlaw-9799	292	34	by	by	ADP
taxlaw-9799	292	35	one	one	NUM
taxlaw-9799	292	36	or	or	CCONJ
taxlaw-9799	292	37	more	more	ADJ
taxlaw-9799	292	38	corporate	corporate	ADJ
taxlaw-9799	292	39	business	business	NOUN
taxlaw-9799	292	40	purposes	purpose	NOUN
taxlaw-9799	292	41	.	.	PUNCT
taxlaw-9799	293	1	however	however	ADV
taxlaw-9799	293	2	,	,	PUNCT
taxlaw-9799	293	3	it	it	PRON
taxlaw-9799	293	4	would	would	AUX
taxlaw-9799	293	5	seem	seem	VERB
taxlaw-9799	293	6	that	that	SCONJ
taxlaw-9799	293	7	even	even	ADV
taxlaw-9799	293	8	noncreative	noncreative	ADJ
taxlaw-9799	293	9	taxpayers	taxpayer	NOUN
taxlaw-9799	293	10	and	and	CCONJ
taxlaw-9799	293	11	lawyers	lawyer	NOUN
taxlaw-9799	293	12	could	could	AUX
taxlaw-9799	293	13	fairly	fairly	ADV
taxlaw-9799	293	14	easily	easily	ADV
taxlaw-9799	293	15	devise	devise	VERB
taxlaw-9799	293	16	pretexts	pretext	NOUN
taxlaw-9799	293	17	for	for	ADP
taxlaw-9799	293	18	a	a	DET
taxlaw-9799	293	19	spin	spin	NOUN
taxlaw-9799	293	20	-	-	PUNCT
taxlaw-9799	293	21	off	off	NOUN
taxlaw-9799	293	22	that	that	SCONJ
taxlaw-9799	293	23	in	in	ADP
taxlaw-9799	293	24	fact	fact	NOUN
taxlaw-9799	293	25	has	have	VERB
taxlaw-9799	293	26	the	the	DET
taxlaw-9799	293	27	primary	primary	ADJ
taxlaw-9799	293	28	purpose	purpose	NOUN
taxlaw-9799	293	29	of	of	ADP
taxlaw-9799	293	30	tax	tax	NOUN
taxlaw-9799	293	31	avoidance	avoidance	NOUN
taxlaw-9799	293	32	.	.	PUNCT
taxlaw-9799	294	1	one	one	NUM
taxlaw-9799	294	2	benefit	benefit	NOUN
taxlaw-9799	294	3	of	of	ADP
taxlaw-9799	294	4	this	this	DET
taxlaw-9799	294	5	requirement	requirement	NOUN
taxlaw-9799	294	6	for	for	ADP
taxlaw-9799	294	7	the	the	DET
taxlaw-9799	294	8	government	government	NOUN
taxlaw-9799	294	9	,	,	PUNCT
taxlaw-9799	294	10	however	however	ADV
taxlaw-9799	294	11	,	,	PUNCT
taxlaw-9799	294	12	is	be	AUX
taxlaw-9799	294	13	that	that	SCONJ
taxlaw-9799	294	14	if	if	SCONJ
taxlaw-9799	294	15	a	a	DET
taxlaw-9799	294	16	corporation	corporation	NOUN
taxlaw-9799	294	17	states	state	VERB
taxlaw-9799	294	18	a	a	DET
taxlaw-9799	294	19	qualifying	qualify	VERB
taxlaw-9799	294	20	business	business	NOUN
taxlaw-9799	294	21	purpose	purpose	NOUN
taxlaw-9799	294	22	—	—	PUNCT
taxlaw-9799	294	23	for	for	ADP
taxlaw-9799	294	24	example	example	NOUN
taxlaw-9799	294	25	,	,	PUNCT
taxlaw-9799	294	26	in	in	ADP
taxlaw-9799	294	27	a	a	DET
taxlaw-9799	294	28	press	press	NOUN
taxlaw-9799	294	29	release	release	NOUN
taxlaw-9799	294	30	or	or	CCONJ
taxlaw-9799	294	31	private	private	ADJ
taxlaw-9799	294	32	letter	letter	NOUN
taxlaw-9799	294	33	ruling	rule	VERB
taxlaw-9799	294	34	request	request	NOUN
taxlaw-9799	294	35	—	—	PUNCT
taxlaw-9799	294	36	and	and	CCONJ
taxlaw-9799	294	37	then	then	ADV
taxlaw-9799	294	38	later	later	ADV
taxlaw-9799	294	39	changes	change	NOUN
taxlaw-9799	294	40	course	course	ADV
taxlaw-9799	294	41	and	and	CCONJ
taxlaw-9799	294	42	fails	fail	VERB
taxlaw-9799	294	43	to	to	PART
taxlaw-9799	294	44	engage	engage	VERB
taxlaw-9799	294	45	in	in	ADP
taxlaw-9799	294	46	the	the	DET
taxlaw-9799	294	47	stated	state	VERB
taxlaw-9799	294	48	activity	activity	NOUN
taxlaw-9799	294	49	,	,	PUNCT
taxlaw-9799	294	50	the	the	DET
taxlaw-9799	294	51	i.r.s	i.r.s	NOUN
taxlaw-9799	294	52	.	.	PUNCT
taxlaw-9799	295	1	may	may	AUX
taxlaw-9799	295	2	be	be	AUX
taxlaw-9799	295	3	able	able	ADJ
taxlaw-9799	295	4	to	to	PART
taxlaw-9799	295	5	challenge	challenge	VERB
taxlaw-9799	295	6	the	the	DET
taxlaw-9799	295	7	transaction	transaction	NOUN
taxlaw-9799	295	8	as	as	SCONJ
taxlaw-9799	295	9	motivated	motivate	VERB
taxlaw-9799	295	10	by	by	ADP
taxlaw-9799	295	11	tax	tax	NOUN
taxlaw-9799	295	12	avoidance	avoidance	NOUN
taxlaw-9799	295	13	rather	rather	ADV
taxlaw-9799	295	14	than	than	ADP
taxlaw-9799	295	15	by	by	ADP
taxlaw-9799	295	16	a	a	DET
taxlaw-9799	295	17	bona	bona	ADJ
taxlaw-9799	295	18	fide	fide	ADJ
taxlaw-9799	295	19	corporate	corporate	ADJ
taxlaw-9799	295	20	business	business	NOUN
taxlaw-9799	295	21	purpose	purpose	NOUN
taxlaw-9799	295	22	.	.	PUNCT
taxlaw-9799	296	1	nevertheless	nevertheless	ADV
taxlaw-9799	296	2	,	,	PUNCT
taxlaw-9799	296	3	most	most	ADJ
taxlaw-9799	296	4	of	of	ADP
taxlaw-9799	296	5	the	the	DET
taxlaw-9799	296	6	corporate	corporate	ADJ
taxlaw-9799	296	7	business	business	NOUN
taxlaw-9799	296	8	purposes	purpose	NOUN
taxlaw-9799	296	9	that	that	PRON
taxlaw-9799	296	10	satisfy	satisfy	VERB
taxlaw-9799	296	11	this	this	DET
taxlaw-9799	296	12	requirement	requirement	NOUN
taxlaw-9799	296	13	are	be	AUX
taxlaw-9799	296	14	rather	rather	ADV
taxlaw-9799	296	15	vague	vague	ADJ
taxlaw-9799	296	16	.	.	PUNCT
taxlaw-9799	297	1	for	for	ADP
taxlaw-9799	297	2	example	example	NOUN
taxlaw-9799	297	3	,	,	PUNCT
taxlaw-9799	297	4	the	the	DET
taxlaw-9799	297	5	i.r.s	i.r.	NOUN
taxlaw-9799	297	6	.	.	PUNCT
taxlaw-9799	298	1	would	would	AUX
taxlaw-9799	298	2	have	have	VERB
taxlaw-9799	298	3	a	a	DET
taxlaw-9799	298	4	difficult	difficult	ADJ
taxlaw-9799	298	5	time	time	NOUN
taxlaw-9799	298	6	challenging	challenge	VERB
taxlaw-9799	298	7	a	a	DET
taxlaw-9799	298	8	conglomerate	conglomerate	NOUN
taxlaw-9799	298	9	that	that	PRON
taxlaw-9799	298	10	stated	state	VERB
taxlaw-9799	298	11	a	a	DET
taxlaw-9799	298	12	desire	desire	NOUN
taxlaw-9799	298	13	to	to	PART
taxlaw-9799	298	14	enhance	enhance	VERB
taxlaw-9799	298	15	“	"	PUNCT
taxlaw-9799	298	16	fit	fit	ADJ
taxlaw-9799	298	17	and	and	CCONJ
taxlaw-9799	298	18	focus	focus	VERB
taxlaw-9799	298	19	”	"	PUNCT
taxlaw-9799	298	20	as	as	ADP
taxlaw-9799	298	21	a	a	DET
taxlaw-9799	298	22	pretext	pretext	NOUN
taxlaw-9799	298	23	for	for	ADP
taxlaw-9799	298	24	spinning	spin	VERB
taxlaw-9799	298	25	off	off	ADP
taxlaw-9799	298	26	a	a	DET
taxlaw-9799	298	27	subsidiary	subsidiary	NOUN
taxlaw-9799	298	28	for	for	ADP
taxlaw-9799	298	29	tax	tax	NOUN
taxlaw-9799	298	30	avoidance	avoidance	NOUN
taxlaw-9799	298	31	purposes	purpose	NOUN
taxlaw-9799	298	32	.	.	PUNCT
taxlaw-9799	299	1	the	the	DET
taxlaw-9799	299	2	i.r.s	i.r.s	PROPN
taxlaw-9799	299	3	.	.	PUNCT
taxlaw-9799	299	4	will	will	AUX
taxlaw-9799	299	5	likely	likely	ADV
taxlaw-9799	299	6	only	only	ADV
taxlaw-9799	299	7	challenge	challenge	VERB
taxlaw-9799	299	8	a	a	DET
taxlaw-9799	299	9	company	company	NOUN
taxlaw-9799	299	10	’s	’s	PART
taxlaw-9799	299	11	stated	state	VERB
taxlaw-9799	299	12	business	business	NOUN
taxlaw-9799	299	13	purpose	purpose	NOUN
taxlaw-9799	299	14	if	if	SCONJ
taxlaw-9799	299	15	it	it	PRON
taxlaw-9799	299	16	is	be	AUX
taxlaw-9799	299	17	unreasonable	unreasonable	ADJ
taxlaw-9799	299	18	or	or	CCONJ
taxlaw-9799	299	19	frivolous	frivolous	ADJ
taxlaw-9799	299	20	,	,	PUNCT
taxlaw-9799	299	21	if	if	SCONJ
taxlaw-9799	299	22	it	it	PRON
taxlaw-9799	299	23	is	be	AUX
taxlaw-9799	299	24	a	a	DET
taxlaw-9799	299	25	pure	pure	ADJ
taxlaw-9799	299	26	shareholder	shareholder	NOUN
taxlaw-9799	299	27	purpose	purpose	NOUN
taxlaw-9799	299	28	,	,	PUNCT
taxlaw-9799	299	29	if	if	SCONJ
taxlaw-9799	299	30	it	it	PRON
taxlaw-9799	299	31	can	can	AUX
taxlaw-9799	299	32	be	be	AUX
taxlaw-9799	299	33	accomplished	accomplish	VERB
taxlaw-9799	299	34	in	in	ADP
taxlaw-9799	299	35	a	a	DET
taxlaw-9799	299	36	convenient	convenient	ADJ
taxlaw-9799	299	37	alternative	alternative	ADJ
taxlaw-9799	299	38	mechanism	mechanism	NOUN
taxlaw-9799	299	39	,	,	PUNCT
taxlaw-9799	299	40	or	or	CCONJ
taxlaw-9799	299	41	if	if	SCONJ
taxlaw-9799	299	42	it	it	PRON
taxlaw-9799	299	43	reduces	reduce	VERB
taxlaw-9799	299	44	federal	federal	ADJ
taxlaw-9799	299	45	tax	tax	NOUN
taxlaw-9799	299	46	by	by	ADP
taxlaw-9799	299	47	more	more	ADJ
taxlaw-9799	299	48	than	than	ADP
taxlaw-9799	299	49	it	it	PRON
taxlaw-9799	299	50	72	72	NUM
taxlaw-9799	299	51	spin	spin	NOUN
taxlaw-9799	299	52	-	-	PUNCT
taxlaw-9799	299	53	offs	off	NOUN
taxlaw-9799	299	54	:	:	PUNCT
taxlaw-9799	299	55	tax	tax	NOUN
taxlaw-9799	299	56	overview	overview	NOUN
taxlaw-9799	299	57	,	,	PUNCT
taxlaw-9799	299	58	supra	supra	PROPN
taxlaw-9799	299	59	note	note	PROPN
taxlaw-9799	299	60	36	36	NUM
taxlaw-9799	299	61	;	;	PUNCT
taxlaw-9799	299	62	rev	rev	PROPN
taxlaw-9799	299	63	.	.	PROPN
taxlaw-9799	299	64	proc	proc	PROPN
taxlaw-9799	299	65	.	.	PUNCT
taxlaw-9799	300	1	96	96	NUM
taxlaw-9799	300	2	-	-	SYM
taxlaw-9799	300	3	30	30	NUM
taxlaw-9799	300	4	,	,	PUNCT
taxlaw-9799	300	5	1996	1996	NUM
taxlaw-9799	300	6	-	-	SYM
taxlaw-9799	300	7	1	1	NUM
taxlaw-9799	300	8	c.b	c.b	PROPN
taxlaw-9799	300	9	.	.	PROPN
taxlaw-9799	300	10	696	696	NUM
taxlaw-9799	300	11	.	.	PUNCT
taxlaw-9799	301	1	73	73	NUM
taxlaw-9799	302	1	§	§	PROPN
taxlaw-9799	302	2	1.355	1.355	NUM
taxlaw-9799	302	3	-	-	SYM
taxlaw-9799	302	4	2(b)(2	2(b)(2	NUM
taxlaw-9799	302	5	)	)	PUNCT
taxlaw-9799	302	6	.	.	PUNCT
taxlaw-9799	303	1	74	74	NUM
taxlaw-9799	303	2	§	§	PROPN
taxlaw-9799	303	3	1.355	1.355	NUM
taxlaw-9799	303	4	-	-	PUNCT
taxlaw-9799	303	5	2(b)(3	2(b)(3	NUM
taxlaw-9799	303	6	)	)	PUNCT
taxlaw-9799	303	7	.	.	PUNCT
taxlaw-9799	304	1	2022	2022	NUM
taxlaw-9799	304	2	]	]	PUNCT
taxlaw-9799	304	3	conglomerate	conglomerate	NOUN
taxlaw-9799	304	4	spin	spin	NOUN
taxlaw-9799	304	5	-	-	PUNCT
taxlaw-9799	304	6	offs	off	VERB
taxlaw-9799	304	7	180	180	NUM
taxlaw-9799	304	8	reduces	reduce	VERB
taxlaw-9799	304	9	non	non	ADJ
taxlaw-9799	304	10	-	-	ADJ
taxlaw-9799	304	11	federal	federal	ADJ
taxlaw-9799	304	12	tax	tax	NOUN
taxlaw-9799	304	13	.	.	PUNCT
taxlaw-9799	305	1	thus	thus	ADV
taxlaw-9799	305	2	,	,	PUNCT
taxlaw-9799	305	3	the	the	DET
taxlaw-9799	305	4	common	common	ADJ
taxlaw-9799	305	5	law	law	NOUN
taxlaw-9799	305	6	corporate	corporate	ADJ
taxlaw-9799	305	7	business	business	NOUN
taxlaw-9799	305	8	purpose	purpose	NOUN
taxlaw-9799	305	9	requirement	requirement	NOUN
taxlaw-9799	305	10	seems	seem	VERB
taxlaw-9799	305	11	fairly	fairly	ADV
taxlaw-9799	305	12	easy	easy	ADJ
taxlaw-9799	305	13	to	to	PART
taxlaw-9799	305	14	overcome	overcome	VERB
taxlaw-9799	305	15	and	and	CCONJ
taxlaw-9799	305	16	difficult	difficult	ADJ
taxlaw-9799	305	17	to	to	PART
taxlaw-9799	305	18	challenge	challenge	VERB
taxlaw-9799	305	19	in	in	ADP
taxlaw-9799	305	20	practice	practice	NOUN
taxlaw-9799	305	21	.	.	PUNCT
taxlaw-9799	306	1	business	business	NOUN
taxlaw-9799	306	2	purpose	purpose	NOUN
taxlaw-9799	306	3	is	be	AUX
taxlaw-9799	306	4	a	a	DET
taxlaw-9799	306	5	highly	highly	ADV
taxlaw-9799	306	6	factual	factual	ADJ
taxlaw-9799	306	7	analysis	analysis	NOUN
taxlaw-9799	306	8	that	that	PRON
taxlaw-9799	306	9	depends	depend	VERB
taxlaw-9799	306	10	on	on	ADP
taxlaw-9799	306	11	whether	whether	SCONJ
taxlaw-9799	306	12	a	a	DET
taxlaw-9799	306	13	disinterested	disinterested	ADJ
taxlaw-9799	306	14	party	party	NOUN
taxlaw-9799	306	15	would	would	AUX
taxlaw-9799	306	16	find	find	VERB
taxlaw-9799	306	17	the	the	DET
taxlaw-9799	306	18	business	business	NOUN
taxlaw-9799	306	19	purpose	purpose	NOUN
taxlaw-9799	306	20	reasonable	reasonable	ADJ
taxlaw-9799	306	21	.	.	PUNCT
taxlaw-9799	307	1	because	because	SCONJ
taxlaw-9799	307	2	it	it	PRON
taxlaw-9799	307	3	is	be	AUX
taxlaw-9799	307	4	generally	generally	ADV
taxlaw-9799	307	5	easy	easy	ADJ
taxlaw-9799	307	6	to	to	PART
taxlaw-9799	307	7	navigate	navigate	VERB
taxlaw-9799	307	8	,	,	PUNCT
taxlaw-9799	307	9	this	this	DET
taxlaw-9799	307	10	requirement	requirement	NOUN
taxlaw-9799	307	11	likely	likely	ADV
taxlaw-9799	307	12	does	do	VERB
taxlaw-9799	307	13	little	little	ADJ
taxlaw-9799	307	14	to	to	PART
taxlaw-9799	307	15	discourage	discourage	VERB
taxlaw-9799	307	16	deconglomeration	deconglomeration	NOUN
taxlaw-9799	307	17	.	.	PUNCT
taxlaw-9799	308	1	b.	b.	PROPN
taxlaw-9799	308	2	continuity	continuity	NOUN
taxlaw-9799	308	3	of	of	ADP
taxlaw-9799	308	4	interest	interest	NOUN
taxlaw-9799	308	5	the	the	DET
taxlaw-9799	308	6	other	other	ADJ
taxlaw-9799	308	7	common	common	ADJ
taxlaw-9799	308	8	law	law	NOUN
taxlaw-9799	308	9	requirement	requirement	NOUN
taxlaw-9799	308	10	is	be	AUX
taxlaw-9799	308	11	continuity	continuity	NOUN
taxlaw-9799	308	12	of	of	ADP
taxlaw-9799	308	13	interest	interest	NOUN
taxlaw-9799	308	14	,	,	PUNCT
taxlaw-9799	308	15	which	which	PRON
taxlaw-9799	308	16	encompasses	encompass	VERB
taxlaw-9799	308	17	both	both	DET
taxlaw-9799	308	18	continuity	continuity	NOUN
taxlaw-9799	308	19	of	of	ADP
taxlaw-9799	308	20	business	business	NOUN
taxlaw-9799	308	21	enterprise	enterprise	NOUN
taxlaw-9799	308	22	and	and	CCONJ
taxlaw-9799	308	23	continuity	continuity	NOUN
taxlaw-9799	308	24	of	of	ADP
taxlaw-9799	308	25	proprietary	proprietary	ADJ
taxlaw-9799	308	26	interest	interest	NOUN
taxlaw-9799	308	27	.	.	PUNCT
taxlaw-9799	309	1	continuity	continuity	NOUN
taxlaw-9799	309	2	of	of	ADP
taxlaw-9799	309	3	business	business	NOUN
taxlaw-9799	309	4	enterprise	enterprise	NOUN
taxlaw-9799	309	5	requires	require	VERB
taxlaw-9799	309	6	that	that	SCONJ
taxlaw-9799	309	7	the	the	DET
taxlaw-9799	309	8	“	"	PUNCT
taxlaw-9799	309	9	businesses	business	NOUN
taxlaw-9799	309	10	existing	exist	VERB
taxlaw-9799	309	11	prior	prior	ADV
taxlaw-9799	309	12	to	to	ADP
taxlaw-9799	309	13	the	the	DET
taxlaw-9799	309	14	separation	separation	NOUN
taxlaw-9799	309	15	”	"	PUNCT
taxlaw-9799	309	16	be	be	AUX
taxlaw-9799	309	17	continued.75	continued.75	NOUN
taxlaw-9799	309	18	the	the	DET
taxlaw-9799	309	19	exact	exact	ADJ
taxlaw-9799	309	20	length	length	NOUN
taxlaw-9799	309	21	of	of	ADP
taxlaw-9799	309	22	time	time	NOUN
taxlaw-9799	309	23	required	require	VERB
taxlaw-9799	309	24	for	for	ADP
taxlaw-9799	309	25	continuing	continue	VERB
taxlaw-9799	309	26	the	the	DET
taxlaw-9799	309	27	businesses	business	NOUN
taxlaw-9799	309	28	is	be	AUX
taxlaw-9799	309	29	nowhere	nowhere	ADV
taxlaw-9799	309	30	explicitly	explicitly	ADV
taxlaw-9799	309	31	stated	state	VERB
taxlaw-9799	309	32	,	,	PUNCT
taxlaw-9799	309	33	but	but	CCONJ
taxlaw-9799	309	34	in	in	ADP
taxlaw-9799	309	35	practice	practice	NOUN
taxlaw-9799	309	36	,	,	PUNCT
taxlaw-9799	309	37	distributing	distribute	VERB
taxlaw-9799	309	38	and	and	CCONJ
taxlaw-9799	309	39	controlled	control	VERB
taxlaw-9799	309	40	should	should	AUX
taxlaw-9799	309	41	each	each	PRON
taxlaw-9799	309	42	continue	continue	VERB
taxlaw-9799	309	43	to	to	PART
taxlaw-9799	309	44	operate	operate	VERB
taxlaw-9799	309	45	at	at	ADV
taxlaw-9799	309	46	least	least	ADJ
taxlaw-9799	309	47	one	one	NUM
taxlaw-9799	309	48	of	of	ADP
taxlaw-9799	309	49	their	their	PRON
taxlaw-9799	309	50	substantial	substantial	ADJ
taxlaw-9799	309	51	historic	historic	ADJ
taxlaw-9799	309	52	businesses.76	businesses.76	PROPN
taxlaw-9799	309	53	continuity	continuity	NOUN
taxlaw-9799	309	54	of	of	ADP
taxlaw-9799	309	55	proprietary	proprietary	ADJ
taxlaw-9799	309	56	interest	interest	NOUN
taxlaw-9799	309	57	is	be	AUX
taxlaw-9799	309	58	understood	understand	VERB
taxlaw-9799	309	59	as	as	ADP
taxlaw-9799	309	60	requiring	require	VERB
taxlaw-9799	309	61	that	that	SCONJ
taxlaw-9799	309	62	“	"	PUNCT
taxlaw-9799	309	63	a	a	DET
taxlaw-9799	309	64	substantial	substantial	ADJ
taxlaw-9799	309	65	portion	portion	NOUN
taxlaw-9799	309	66	of	of	ADP
taxlaw-9799	309	67	the	the	DET
taxlaw-9799	309	68	consideration	consideration	NOUN
taxlaw-9799	309	69	received	receive	VERB
taxlaw-9799	309	70	by	by	ADP
taxlaw-9799	309	71	parties	party	NOUN
taxlaw-9799	309	72	to	to	ADP
taxlaw-9799	309	73	a	a	DET
taxlaw-9799	309	74	reorganization	reorganization	NOUN
taxlaw-9799	309	75	consist	consist	NOUN
taxlaw-9799	309	76	of	of	ADP
taxlaw-9799	309	77	an	an	DET
taxlaw-9799	309	78	ongoing	ongoing	ADJ
taxlaw-9799	309	79	equity	equity	NOUN
taxlaw-9799	309	80	interest	interest	NOUN
taxlaw-9799	309	81	in	in	ADP
taxlaw-9799	309	82	the	the	DET
taxlaw-9799	309	83	surviving	survive	VERB
taxlaw-9799	309	84	enterprise	enterprise	NOUN
taxlaw-9799	309	85	.	.	PUNCT
taxlaw-9799	310	1	”77	”77	NOUN
taxlaw-9799	311	1	in	in	ADP
taxlaw-9799	311	2	the	the	DET
taxlaw-9799	311	3	case	case	NOUN
taxlaw-9799	311	4	of	of	ADP
taxlaw-9799	311	5	spin	spin	NOUN
taxlaw-9799	311	6	-	-	PUNCT
taxlaw-9799	311	7	offs	off	NOUN
taxlaw-9799	311	8	,	,	PUNCT
taxlaw-9799	311	9	the	the	DET
taxlaw-9799	311	10	current	current	ADJ
taxlaw-9799	311	11	regulations	regulation	NOUN
taxlaw-9799	311	12	require	require	VERB
taxlaw-9799	311	13	that	that	SCONJ
taxlaw-9799	311	14	“	"	PUNCT
taxlaw-9799	311	15	one	one	NUM
taxlaw-9799	311	16	or	or	CCONJ
taxlaw-9799	311	17	more	more	ADJ
taxlaw-9799	311	18	persons	person	NOUN
taxlaw-9799	311	19	who	who	PRON
taxlaw-9799	311	20	,	,	PUNCT
taxlaw-9799	311	21	directly	directly	ADV
taxlaw-9799	311	22	or	or	CCONJ
taxlaw-9799	311	23	indirectly	indirectly	ADV
taxlaw-9799	311	24	,	,	PUNCT
taxlaw-9799	311	25	were	be	AUX
taxlaw-9799	311	26	the	the	DET
taxlaw-9799	311	27	owners	owner	NOUN
taxlaw-9799	311	28	of	of	ADP
taxlaw-9799	311	29	the	the	DET
taxlaw-9799	311	30	enterprise	enterprise	NOUN
taxlaw-9799	311	31	prior	prior	ADV
taxlaw-9799	311	32	to	to	ADP
taxlaw-9799	311	33	the	the	DET
taxlaw-9799	311	34	distribution	distribution	NOUN
taxlaw-9799	311	35	or	or	CCONJ
taxlaw-9799	311	36	exchange	exchange	NOUN
taxlaw-9799	311	37	own	own	ADJ
taxlaw-9799	311	38	,	,	PUNCT
taxlaw-9799	311	39	in	in	ADP
taxlaw-9799	311	40	the	the	DET
taxlaw-9799	311	41	aggregate	aggregate	NOUN
taxlaw-9799	311	42	,	,	PUNCT
taxlaw-9799	311	43	an	an	DET
taxlaw-9799	311	44	amount	amount	NOUN
taxlaw-9799	311	45	of	of	ADP
taxlaw-9799	311	46	stock	stock	NOUN
taxlaw-9799	311	47	establishing	establish	VERB
taxlaw-9799	311	48	a	a	DET
taxlaw-9799	311	49	continuity	continuity	NOUN
taxlaw-9799	311	50	of	of	ADP
taxlaw-9799	311	51	interest	interest	NOUN
taxlaw-9799	311	52	in	in	ADP
taxlaw-9799	311	53	each	each	PRON
taxlaw-9799	311	54	of	of	ADP
taxlaw-9799	311	55	the	the	DET
taxlaw-9799	311	56	modified	modify	VERB
taxlaw-9799	311	57	corporate	corporate	ADJ
taxlaw-9799	311	58	forms	form	NOUN
taxlaw-9799	311	59	in	in	ADP
taxlaw-9799	311	60	which	which	PRON
taxlaw-9799	311	61	the	the	DET
taxlaw-9799	311	62	enterprise	enterprise	NOUN
taxlaw-9799	311	63	is	be	AUX
taxlaw-9799	311	64	conducted	conduct	VERB
taxlaw-9799	311	65	after	after	ADP
taxlaw-9799	311	66	the	the	DET
taxlaw-9799	311	67	separation	separation	NOUN
taxlaw-9799	311	68	.	.	PUNCT
taxlaw-9799	312	1	”78	”78	ADV
taxlaw-9799	312	2	the	the	DET
taxlaw-9799	312	3	rationale	rationale	NOUN
taxlaw-9799	312	4	behind	behind	ADP
taxlaw-9799	312	5	the	the	DET
taxlaw-9799	312	6	continuity	continuity	NOUN
taxlaw-9799	312	7	of	of	ADP
taxlaw-9799	312	8	interest	interest	NOUN
taxlaw-9799	312	9	requirements	requirement	NOUN
taxlaw-9799	312	10	is	be	AUX
taxlaw-9799	312	11	again	again	ADV
taxlaw-9799	312	12	to	to	PART
taxlaw-9799	312	13	help	help	VERB
taxlaw-9799	312	14	to	to	PART
taxlaw-9799	312	15	ensure	ensure	VERB
taxlaw-9799	312	16	that	that	SCONJ
taxlaw-9799	312	17	the	the	DET
taxlaw-9799	312	18	spin	spin	VERB
taxlaw-9799	312	19	-	-	PUNCT
taxlaw-9799	312	20	off	off	NOUN
taxlaw-9799	312	21	resembles	resemble	VERB
taxlaw-9799	312	22	a	a	DET
taxlaw-9799	312	23	mere	mere	ADJ
taxlaw-9799	312	24	change	change	NOUN
taxlaw-9799	312	25	in	in	ADP
taxlaw-9799	312	26	form	form	NOUN
taxlaw-9799	312	27	as	as	SCONJ
taxlaw-9799	312	28	opposed	oppose	VERB
taxlaw-9799	312	29	to	to	ADP
taxlaw-9799	312	30	a	a	DET
taxlaw-9799	312	31	sale.79	sale.79	NOUN
taxlaw-9799	312	32	as	as	ADV
taxlaw-9799	312	33	long	long	ADV
taxlaw-9799	312	34	as	as	ADP
taxlaw-9799	312	35	a	a	DET
taxlaw-9799	312	36	conglomerate	conglomerate	NOUN
taxlaw-9799	312	37	wishing	wish	VERB
taxlaw-9799	312	38	to	to	PART
taxlaw-9799	312	39	engage	engage	VERB
taxlaw-9799	312	40	in	in	ADP
taxlaw-9799	312	41	a	a	DET
taxlaw-9799	312	42	spin	spin	NOUN
taxlaw-9799	312	43	-	-	PUNCT
taxlaw-9799	312	44	off	off	NOUN
taxlaw-9799	312	45	makes	make	VERB
taxlaw-9799	312	46	sure	sure	ADJ
taxlaw-9799	312	47	that	that	SCONJ
taxlaw-9799	312	48	the	the	DET
taxlaw-9799	312	49	conglomerate	conglomerate	NOUN
taxlaw-9799	312	50	and	and	CCONJ
taxlaw-9799	312	51	spinco	spinco	NOUN
taxlaw-9799	312	52	continue	continue	VERB
taxlaw-9799	312	53	to	to	PART
taxlaw-9799	312	54	operate	operate	VERB
taxlaw-9799	312	55	at	at	ADV
taxlaw-9799	312	56	least	least	ADV
taxlaw-9799	312	57	one	one	NUM
taxlaw-9799	312	58	substantial	substantial	ADJ
taxlaw-9799	312	59	historic	historic	ADJ
taxlaw-9799	312	60	business	business	NOUN
taxlaw-9799	312	61	and	and	CCONJ
taxlaw-9799	312	62	at	at	ADV
taxlaw-9799	312	63	least	least	ADJ
taxlaw-9799	312	64	one	one	NUM
taxlaw-9799	312	65	of	of	ADP
taxlaw-9799	312	66	the	the	DET
taxlaw-9799	312	67	shareholders	shareholder	NOUN
taxlaw-9799	312	68	who	who	PRON
taxlaw-9799	312	69	historically	historically	ADV
taxlaw-9799	312	70	owned	own	VERB
taxlaw-9799	312	71	an	an	DET
taxlaw-9799	312	72	interest	interest	NOUN
taxlaw-9799	312	73	in	in	ADP
taxlaw-9799	312	74	the	the	DET
taxlaw-9799	312	75	conglomerate	conglomerate	NOUN
taxlaw-9799	312	76	before	before	SCONJ
taxlaw-9799	312	77	the	the	DET
taxlaw-9799	312	78	division	division	NOUN
taxlaw-9799	312	79	owns	own	VERB
taxlaw-9799	312	80	an	an	DET
taxlaw-9799	312	81	amount	amount	NOUN
taxlaw-9799	312	82	of	of	ADP
taxlaw-9799	312	83	stock	stock	NOUN
taxlaw-9799	312	84	that	that	PRON
taxlaw-9799	312	85	establishes	establish	VERB
taxlaw-9799	312	86	a	a	DET
taxlaw-9799	312	87	continuity	continuity	NOUN
taxlaw-9799	312	88	of	of	ADP
taxlaw-9799	312	89	interest	interest	NOUN
taxlaw-9799	312	90	in	in	ADP
taxlaw-9799	312	91	each	each	PRON
taxlaw-9799	312	92	of	of	ADP
taxlaw-9799	312	93	the	the	DET
taxlaw-9799	312	94	modified	modify	VERB
taxlaw-9799	312	95	corporate	corporate	ADJ
taxlaw-9799	312	96	forms	form	NOUN
taxlaw-9799	312	97	following	follow	VERB
taxlaw-9799	312	98	the	the	DET
taxlaw-9799	312	99	transaction	transaction	NOUN
taxlaw-9799	312	100	,	,	PUNCT
taxlaw-9799	312	101	this	this	DET
taxlaw-9799	312	102	requirement	requirement	NOUN
taxlaw-9799	312	103	should	should	AUX
taxlaw-9799	312	104	be	be	AUX
taxlaw-9799	312	105	met	meet	VERB
taxlaw-9799	312	106	without	without	ADP
taxlaw-9799	312	107	great	great	ADJ
taxlaw-9799	312	108	difficulty.80	difficulty.80	PROPN
taxlaw-9799	312	109	4	4	NUM
taxlaw-9799	312	110	.	.	X
taxlaw-9799	313	1	two	two	NUM
taxlaw-9799	313	2	additional	additional	ADJ
taxlaw-9799	313	3	considerations	consideration	NOUN
taxlaw-9799	313	4	a.	a.	NOUN
taxlaw-9799	313	5	section	section	NOUN
taxlaw-9799	313	6	367	367	NUM
taxlaw-9799	313	7	:	:	PUNCT
taxlaw-9799	313	8	international	international	ADJ
taxlaw-9799	313	9	spin	spin	NOUN
taxlaw-9799	313	10	-	-	PUNCT
taxlaw-9799	313	11	offs	off	NOUN
taxlaw-9799	313	12	conglomerates	conglomerate	NOUN
taxlaw-9799	313	13	today	today	NOUN
taxlaw-9799	313	14	are	be	AUX
taxlaw-9799	313	15	almost	almost	ADV
taxlaw-9799	313	16	by	by	ADP
taxlaw-9799	313	17	definition	definition	NOUN
taxlaw-9799	313	18	international	international	ADJ
taxlaw-9799	313	19	entities	entity	NOUN
taxlaw-9799	313	20	.	.	PUNCT
taxlaw-9799	314	1	a	a	DET
taxlaw-9799	314	2	u.s	u.s	PROPN
taxlaw-9799	314	3	.	.	PROPN
taxlaw-9799	314	4	multinational	multinational	PROPN
taxlaw-9799	314	5	may	may	AUX
taxlaw-9799	314	6	have	have	VERB
taxlaw-9799	314	7	strong	strong	ADJ
taxlaw-9799	314	8	corporate	corporate	ADJ
taxlaw-9799	314	9	business	business	NOUN
taxlaw-9799	314	10	reasons	reason	NOUN
taxlaw-9799	314	11	to	to	PART
taxlaw-9799	314	12	pursue	pursue	VERB
taxlaw-9799	314	13	a	a	DET
taxlaw-9799	314	14	spin	spin	NOUN
taxlaw-9799	314	15	-	-	PUNCT
taxlaw-9799	314	16	off	off	ADP
taxlaw-9799	314	17	a	a	DET
taxlaw-9799	314	18	controlled	control	VERB
taxlaw-9799	314	19	foreign	foreign	ADJ
taxlaw-9799	314	20	corporation	corporation	NOUN
taxlaw-9799	314	21	(	(	PUNCT
taxlaw-9799	314	22	“	"	PUNCT
taxlaw-9799	314	23	cfc	cfc	PROPN
taxlaw-9799	314	24	”	"	PUNCT
taxlaw-9799	314	25	)	)	PUNCT
taxlaw-9799	314	26	.	.	PUNCT
taxlaw-9799	315	1	certain	certain	ADJ
taxlaw-9799	315	2	tax	tax	NOUN
taxlaw-9799	315	3	provisions	provision	NOUN
taxlaw-9799	315	4	in	in	ADP
taxlaw-9799	315	5	the	the	DET
taxlaw-9799	315	6	code	code	NOUN
taxlaw-9799	315	7	and	and	CCONJ
taxlaw-9799	315	8	75	75	NUM
taxlaw-9799	315	9	treas	trea	NOUN
taxlaw-9799	315	10	.	.	PUNCT
taxlaw-9799	316	1	reg	reg	PROPN
taxlaw-9799	316	2	.	.	PUNCT
taxlaw-9799	317	1	§	§	PROPN
taxlaw-9799	317	2	1.355	1.355	NUM
taxlaw-9799	317	3	-	-	SYM
taxlaw-9799	317	4	1(b	1(b	NUM
taxlaw-9799	317	5	)	)	PUNCT
taxlaw-9799	317	6	.	.	PUNCT
taxlaw-9799	318	1	76	76	NUM
taxlaw-9799	318	2	kahn	kahn	PROPN
taxlaw-9799	318	3	,	,	PUNCT
taxlaw-9799	318	4	supra	supra	PROPN
taxlaw-9799	318	5	note	note	NOUN
taxlaw-9799	318	6	61	61	NUM
taxlaw-9799	318	7	,	,	PUNCT
taxlaw-9799	318	8	at	at	ADP
taxlaw-9799	318	9	224	224	NUM
taxlaw-9799	318	10	.	.	PUNCT
taxlaw-9799	319	1	77	77	NUM
taxlaw-9799	320	1	i	i	PRON
taxlaw-9799	320	2	d.	d.	PROPN
taxlaw-9799	320	3	at	at	ADP
taxlaw-9799	320	4	225	225	NUM
taxlaw-9799	320	5	.	.	PUNCT
taxlaw-9799	321	1	78	78	NUM
taxlaw-9799	321	2	treas	trea	NOUN
taxlaw-9799	321	3	.	.	PUNCT
taxlaw-9799	322	1	reg	reg	PROPN
taxlaw-9799	322	2	.	.	PUNCT
taxlaw-9799	323	1	§	§	PROPN
taxlaw-9799	323	2	1.355	1.355	NUM
taxlaw-9799	323	3	-	-	SYM
taxlaw-9799	323	4	2(c)(1	2(c)(1	NUM
taxlaw-9799	323	5	)	)	PUNCT
taxlaw-9799	323	6	.	.	PUNCT
taxlaw-9799	324	1	79	79	NUM
taxlaw-9799	324	2	treas	trea	NOUN
taxlaw-9799	324	3	.	.	PUNCT
taxlaw-9799	325	1	reg	reg	PROPN
taxlaw-9799	325	2	.	.	PUNCT
taxlaw-9799	326	1	§	§	PROPN
taxlaw-9799	326	2	1.355	1.355	NUM
taxlaw-9799	326	3	-	-	SYM
taxlaw-9799	326	4	1(c	1(c	NUM
taxlaw-9799	326	5	)	)	PUNCT
taxlaw-9799	326	6	.	.	PUNCT
taxlaw-9799	327	1	80	80	NUM
taxlaw-9799	328	1	if	if	SCONJ
taxlaw-9799	328	2	at	at	ADV
taxlaw-9799	328	3	least	least	ADV
taxlaw-9799	328	4	one	one	NUM
taxlaw-9799	328	5	shareholder	shareholder	NOUN
taxlaw-9799	328	6	of	of	ADP
taxlaw-9799	328	7	distributing	distribute	VERB
taxlaw-9799	328	8	owns	own	VERB
taxlaw-9799	328	9	at	at	ADP
taxlaw-9799	328	10	least	least	ADV
taxlaw-9799	328	11	50	50	NUM
taxlaw-9799	328	12	%	%	NOUN
taxlaw-9799	328	13	of	of	ADP
taxlaw-9799	328	14	the	the	DET
taxlaw-9799	328	15	equity	equity	NOUN
taxlaw-9799	328	16	in	in	ADP
taxlaw-9799	328	17	each	each	PRON
taxlaw-9799	328	18	of	of	ADP
taxlaw-9799	328	19	the	the	DET
taxlaw-9799	328	20	corporations	corporation	NOUN
taxlaw-9799	328	21	after	after	ADP
taxlaw-9799	328	22	the	the	DET
taxlaw-9799	328	23	transaction	transaction	NOUN
taxlaw-9799	328	24	,	,	PUNCT
taxlaw-9799	328	25	the	the	DET
taxlaw-9799	328	26	continuity	continuity	NOUN
taxlaw-9799	328	27	of	of	ADP
taxlaw-9799	328	28	proprietary	proprietary	ADJ
taxlaw-9799	328	29	interest	interest	NOUN
taxlaw-9799	328	30	requirement	requirement	NOUN
taxlaw-9799	328	31	will	will	AUX
taxlaw-9799	328	32	be	be	AUX
taxlaw-9799	328	33	met	meet	VERB
taxlaw-9799	328	34	.	.	PUNCT
taxlaw-9799	329	1	rev	rev	PROPN
taxlaw-9799	329	2	.	.	PROPN
taxlaw-9799	329	3	proc	proc	PROPN
taxlaw-9799	329	4	.	.	PUNCT
taxlaw-9799	330	1	77	77	NUM
taxlaw-9799	330	2	-	-	SYM
taxlaw-9799	330	3	37	37	NUM
taxlaw-9799	330	4	,	,	PUNCT
taxlaw-9799	330	5	1977	1977	NUM
taxlaw-9799	330	6	-	-	SYM
taxlaw-9799	330	7	2	2	NUM
taxlaw-9799	330	8	c.b	c.b	PROPN
taxlaw-9799	330	9	.	.	PROPN
taxlaw-9799	330	10	568	568	NUM
taxlaw-9799	330	11	;	;	PUNCT
taxlaw-9799	330	12	treas	treas	PROPN
taxlaw-9799	330	13	.	.	PUNCT
taxlaw-9799	331	1	reg	reg	PROPN
taxlaw-9799	331	2	.	.	PUNCT
taxlaw-9799	332	1	§	§	PROPN
taxlaw-9799	332	2	1.368	1.368	NUM
taxlaw-9799	332	3	-	-	SYM
taxlaw-9799	332	4	1(e)(8	1(e)(8	NUM
taxlaw-9799	332	5	)	)	PUNCT
taxlaw-9799	332	6	,	,	PUNCT
taxlaw-9799	332	7	ex	ex	X
taxlaw-9799	332	8	.	.	PUNCT
taxlaw-9799	332	9	(	(	PUNCT
taxlaw-9799	332	10	1	1	NUM
taxlaw-9799	332	11	)	)	PUNCT
taxlaw-9799	332	12	.	.	PUNCT
taxlaw-9799	333	1	181	181	NUM
taxlaw-9799	333	2	columbia	columbia	PROPN
taxlaw-9799	333	3	journal	journal	PROPN
taxlaw-9799	333	4	of	of	ADP
taxlaw-9799	333	5	tax	tax	NOUN
taxlaw-9799	333	6	law	law	NOUN
taxlaw-9799	334	1	[	[	X
taxlaw-9799	334	2	vol	vol	NOUN
taxlaw-9799	334	3	:	:	PUNCT
taxlaw-9799	334	4	13:2	13:2	NUM
taxlaw-9799	334	5	regulations	regulation	NOUN
taxlaw-9799	334	6	,	,	PUNCT
taxlaw-9799	334	7	however	however	ADV
taxlaw-9799	334	8	,	,	PUNCT
taxlaw-9799	334	9	make	make	VERB
taxlaw-9799	334	10	spinning	spin	VERB
taxlaw-9799	334	11	off	off	ADP
taxlaw-9799	334	12	an	an	DET
taxlaw-9799	334	13	entirely	entirely	ADV
taxlaw-9799	334	14	or	or	CCONJ
taxlaw-9799	334	15	predominantly	predominantly	ADV
taxlaw-9799	334	16	foreign	foreign	ADJ
taxlaw-9799	334	17	business	business	NOUN
taxlaw-9799	334	18	with	with	ADP
taxlaw-9799	334	19	appreciated	appreciated	ADJ
taxlaw-9799	334	20	assets	asset	NOUN
taxlaw-9799	334	21	by	by	ADP
taxlaw-9799	334	22	a	a	DET
taxlaw-9799	334	23	u.s	u.s	PROPN
taxlaw-9799	334	24	.	.	PROPN
taxlaw-9799	334	25	conglomerate	conglomerate	NOUN
taxlaw-9799	334	26	highly	highly	ADV
taxlaw-9799	334	27	disadvantageous	disadvantageous	ADJ
taxlaw-9799	334	28	by	by	ADP
taxlaw-9799	334	29	requiring	require	VERB
taxlaw-9799	334	30	gain	gain	NOUN
taxlaw-9799	334	31	recognition	recognition	NOUN
taxlaw-9799	334	32	.	.	PUNCT
taxlaw-9799	335	1	much	much	ADV
taxlaw-9799	335	2	as	as	ADP
taxlaw-9799	335	3	section	section	NOUN
taxlaw-9799	335	4	367(a	367(a	NUM
taxlaw-9799	335	5	)	)	PUNCT
taxlaw-9799	335	6	overrides	override	VERB
taxlaw-9799	335	7	nonrecognition	nonrecognition	NOUN
taxlaw-9799	335	8	in	in	ADP
taxlaw-9799	335	9	what	what	PRON
taxlaw-9799	335	10	would	would	AUX
taxlaw-9799	335	11	otherwise	otherwise	ADV
taxlaw-9799	335	12	be	be	AUX
taxlaw-9799	335	13	a	a	DET
taxlaw-9799	335	14	tax	tax	NOUN
taxlaw-9799	335	15	-	-	PUNCT
taxlaw-9799	335	16	free	free	ADJ
taxlaw-9799	335	17	transaction	transaction	NOUN
taxlaw-9799	335	18	under	under	ADP
taxlaw-9799	335	19	section	section	NOUN
taxlaw-9799	335	20	351	351	NUM
taxlaw-9799	335	21	—	—	PUNCT
taxlaw-9799	335	22	and	and	CCONJ
taxlaw-9799	335	23	much	much	ADJ
taxlaw-9799	335	24	as	as	SCONJ
taxlaw-9799	335	25	treasury	treasury	NOUN
taxlaw-9799	335	26	regulation	regulation	NOUN
taxlaw-9799	335	27	section	section	NOUN
taxlaw-9799	335	28	1.367(b)-3	1.367(b)-3	PROPN
taxlaw-9799	335	29	overrides	override	VERB
taxlaw-9799	335	30	nonrecognition	nonrecognition	NOUN
taxlaw-9799	335	31	for	for	ADP
taxlaw-9799	335	32	an	an	DET
taxlaw-9799	335	33	inbound	inbound	ADJ
taxlaw-9799	335	34	liquidation	liquidation	NOUN
taxlaw-9799	335	35	that	that	PRON
taxlaw-9799	335	36	would	would	AUX
taxlaw-9799	335	37	otherwise	otherwise	ADV
taxlaw-9799	335	38	be	be	AUX
taxlaw-9799	335	39	tax	tax	NOUN
taxlaw-9799	335	40	-	-	PUNCT
taxlaw-9799	335	41	free	free	ADJ
taxlaw-9799	335	42	under	under	ADP
taxlaw-9799	335	43	sections	section	NOUN
taxlaw-9799	335	44	332	332	NUM
taxlaw-9799	335	45	and	and	CCONJ
taxlaw-9799	335	46	337	337	NUM
taxlaw-9799	335	47	—	—	PUNCT
taxlaw-9799	335	48	so	so	ADV
taxlaw-9799	335	49	too	too	ADJ
taxlaw-9799	335	50	section	section	NOUN
taxlaw-9799	335	51	367(e)(1	367(e)(1	NUM
taxlaw-9799	335	52	)	)	PUNCT
taxlaw-9799	335	53	and	and	CCONJ
taxlaw-9799	335	54	treasury	treasury	NOUN
taxlaw-9799	335	55	regulation	regulation	NOUN
taxlaw-9799	335	56	section	section	NOUN
taxlaw-9799	335	57	1.367(b)-5	1.367(b)-5	NUM
taxlaw-9799	335	58	turn	turn	VERB
taxlaw-9799	335	59	off	off	ADP
taxlaw-9799	335	60	nonrecognition	nonrecognition	NOUN
taxlaw-9799	335	61	for	for	ADP
taxlaw-9799	335	62	individual	individual	ADJ
taxlaw-9799	335	63	distributees	distributee	NOUN
taxlaw-9799	335	64	in	in	ADP
taxlaw-9799	335	65	what	what	PRON
taxlaw-9799	335	66	would	would	AUX
taxlaw-9799	335	67	otherwise	otherwise	ADV
taxlaw-9799	335	68	be	be	AUX
taxlaw-9799	335	69	a	a	DET
taxlaw-9799	335	70	tax	tax	NOUN
taxlaw-9799	335	71	-	-	PUNCT
taxlaw-9799	335	72	free	free	ADJ
taxlaw-9799	335	73	spin	spin	NOUN
taxlaw-9799	335	74	-	-	PUNCT
taxlaw-9799	335	75	off	off	NOUN
taxlaw-9799	335	76	of	of	ADP
taxlaw-9799	335	77	a	a	DET
taxlaw-9799	335	78	cfc	cfc	NOUN
taxlaw-9799	335	79	.	.	PUNCT
taxlaw-9799	336	1	section	section	NOUN
taxlaw-9799	336	2	367(e)(1	367(e)(1	NUM
taxlaw-9799	336	3	)	)	PUNCT
taxlaw-9799	336	4	states	state	VERB
taxlaw-9799	336	5	that	that	SCONJ
taxlaw-9799	336	6	“	"	PUNCT
taxlaw-9799	336	7	[	[	X
taxlaw-9799	336	8	i]n	i]n	VERB
taxlaw-9799	336	9	the	the	DET
taxlaw-9799	336	10	case	case	NOUN
taxlaw-9799	336	11	of	of	ADP
taxlaw-9799	336	12	any	any	DET
taxlaw-9799	336	13	distribution	distribution	NOUN
taxlaw-9799	336	14	described	describe	VERB
taxlaw-9799	336	15	in	in	ADP
taxlaw-9799	336	16	section	section	NOUN
taxlaw-9799	336	17	355	355	NUM
taxlaw-9799	336	18	.	.	PUNCT
taxlaw-9799	336	19	.	.	PUNCT
taxlaw-9799	336	20	.	.	PUNCT
taxlaw-9799	337	1	by	by	ADP
taxlaw-9799	337	2	a	a	DET
taxlaw-9799	337	3	domestic	domestic	ADJ
taxlaw-9799	337	4	corporation	corporation	NOUN
taxlaw-9799	337	5	to	to	ADP
taxlaw-9799	337	6	a	a	DET
taxlaw-9799	337	7	person	person	NOUN
taxlaw-9799	337	8	who	who	PRON
taxlaw-9799	337	9	is	be	AUX
taxlaw-9799	337	10	not	not	PART
taxlaw-9799	337	11	a	a	DET
taxlaw-9799	337	12	united	united	PROPN
taxlaw-9799	337	13	states	states	PROPN
taxlaw-9799	337	14	person	person	NOUN
taxlaw-9799	337	15	,	,	PUNCT
taxlaw-9799	337	16	to	to	ADP
taxlaw-9799	337	17	the	the	DET
taxlaw-9799	337	18	extent	extent	NOUN
taxlaw-9799	337	19	provided	provide	VERB
taxlaw-9799	337	20	in	in	ADP
taxlaw-9799	337	21	regulations	regulation	NOUN
taxlaw-9799	337	22	,	,	PUNCT
taxlaw-9799	337	23	gain	gain	NOUN
taxlaw-9799	337	24	shall	shall	AUX
taxlaw-9799	337	25	be	be	AUX
taxlaw-9799	337	26	recognized	recognize	VERB
taxlaw-9799	337	27	under	under	ADP
taxlaw-9799	337	28	principles	principle	NOUN
taxlaw-9799	337	29	similar	similar	ADJ
taxlaw-9799	337	30	to	to	ADP
taxlaw-9799	337	31	the	the	DET
taxlaw-9799	337	32	principles	principle	NOUN
taxlaw-9799	337	33	of	of	ADP
taxlaw-9799	337	34	this	this	DET
taxlaw-9799	337	35	section	section	NOUN
taxlaw-9799	337	36	.	.	PUNCT
taxlaw-9799	338	1	”81	”81	PROPN
taxlaw-9799	338	2	moreover	moreover	ADV
taxlaw-9799	338	3	,	,	PUNCT
taxlaw-9799	338	4	treasury	treasury	NOUN
taxlaw-9799	338	5	regulation	regulation	NOUN
taxlaw-9799	338	6	section	section	NOUN
taxlaw-9799	338	7	1.367(b)-5(b)(1)(ii	1.367(b)-5(b)(1)(ii	NUM
taxlaw-9799	338	8	)	)	PUNCT
taxlaw-9799	338	9	adds	add	VERB
taxlaw-9799	338	10	that	that	SCONJ
taxlaw-9799	338	11	“	"	PUNCT
taxlaw-9799	338	12	[	[	X
taxlaw-9799	338	13	i]f	i]f	ADP
taxlaw-9799	338	14	the	the	DET
taxlaw-9799	338	15	distributee	distributee	NOUN
taxlaw-9799	338	16	is	be	AUX
taxlaw-9799	338	17	an	an	DET
taxlaw-9799	338	18	individual	individual	NOUN
taxlaw-9799	338	19	,	,	PUNCT
taxlaw-9799	338	20	then	then	ADV
taxlaw-9799	338	21	,	,	PUNCT
taxlaw-9799	338	22	solely	solely	ADV
taxlaw-9799	338	23	for	for	ADP
taxlaw-9799	338	24	purposes	purpose	NOUN
taxlaw-9799	338	25	of	of	ADP
taxlaw-9799	338	26	determining	determine	VERB
taxlaw-9799	338	27	the	the	DET
taxlaw-9799	338	28	gain	gain	NOUN
taxlaw-9799	338	29	recognized	recognize	VERB
taxlaw-9799	338	30	by	by	ADP
taxlaw-9799	338	31	the	the	DET
taxlaw-9799	338	32	distributing	distribute	VERB
taxlaw-9799	338	33	corporation	corporation	NOUN
taxlaw-9799	338	34	,	,	PUNCT
taxlaw-9799	338	35	the	the	DET
taxlaw-9799	338	36	controlled	control	VERB
taxlaw-9799	338	37	corporation	corporation	NOUN
taxlaw-9799	338	38	shall	shall	AUX
taxlaw-9799	338	39	not	not	PART
taxlaw-9799	338	40	be	be	AUX
taxlaw-9799	338	41	considered	consider	VERB
taxlaw-9799	338	42	to	to	PART
taxlaw-9799	338	43	be	be	AUX
taxlaw-9799	338	44	a	a	DET
taxlaw-9799	338	45	corporation	corporation	NOUN
taxlaw-9799	338	46	,	,	PUNCT
taxlaw-9799	338	47	and	and	CCONJ
taxlaw-9799	338	48	the	the	DET
taxlaw-9799	338	49	distributing	distribute	VERB
taxlaw-9799	338	50	corporation	corporation	NOUN
taxlaw-9799	338	51	shall	shall	AUX
taxlaw-9799	338	52	recognize	recognize	VERB
taxlaw-9799	338	53	any	any	DET
taxlaw-9799	338	54	gain	gain	NOUN
taxlaw-9799	338	55	(	(	PUNCT
taxlaw-9799	338	56	but	but	CCONJ
taxlaw-9799	338	57	not	not	PART
taxlaw-9799	338	58	loss	loss	NOUN
taxlaw-9799	338	59	)	)	PUNCT
taxlaw-9799	338	60	realized	realize	VERB
taxlaw-9799	338	61	on	on	ADP
taxlaw-9799	338	62	the	the	DET
taxlaw-9799	338	63	distribution	distribution	NOUN
taxlaw-9799	338	64	.	.	PUNCT
taxlaw-9799	339	1	”82	”82	ADJ
taxlaw-9799	339	2	because	because	SCONJ
taxlaw-9799	339	3	these	these	DET
taxlaw-9799	339	4	provisions	provision	NOUN
taxlaw-9799	339	5	override	override	VERB
taxlaw-9799	339	6	nonrecognition	nonrecognition	NOUN
taxlaw-9799	339	7	only	only	ADV
taxlaw-9799	339	8	for	for	ADP
taxlaw-9799	339	9	individual	individual	ADJ
taxlaw-9799	339	10	distributees	distributee	NOUN
taxlaw-9799	339	11	,	,	PUNCT
taxlaw-9799	339	12	they	they	PRON
taxlaw-9799	339	13	may	may	AUX
taxlaw-9799	339	14	not	not	PART
taxlaw-9799	339	15	seem	seem	VERB
taxlaw-9799	339	16	too	too	ADV
taxlaw-9799	339	17	onerous	onerous	ADJ
taxlaw-9799	339	18	at	at	ADP
taxlaw-9799	339	19	first	first	ADJ
taxlaw-9799	339	20	glance	glance	NOUN
taxlaw-9799	339	21	.	.	PUNCT
taxlaw-9799	340	1	in	in	ADP
taxlaw-9799	340	2	practice	practice	NOUN
taxlaw-9799	340	3	,	,	PUNCT
taxlaw-9799	340	4	however	however	ADV
taxlaw-9799	340	5	,	,	PUNCT
taxlaw-9799	340	6	u.s	u.s	PROPN
taxlaw-9799	340	7	.	.	PROPN
taxlaw-9799	340	8	multinational	multinational	ADJ
taxlaw-9799	340	9	conglomerates	conglomerate	NOUN
taxlaw-9799	340	10	tend	tend	VERB
taxlaw-9799	340	11	to	to	PART
taxlaw-9799	340	12	have	have	VERB
taxlaw-9799	340	13	many	many	ADJ
taxlaw-9799	340	14	—	—	PUNCT
taxlaw-9799	340	15	and	and	CCONJ
taxlaw-9799	340	16	sometimes	sometimes	ADV
taxlaw-9799	340	17	even	even	ADV
taxlaw-9799	340	18	a	a	DET
taxlaw-9799	340	19	majority	majority	NOUN
taxlaw-9799	340	20	of	of	ADP
taxlaw-9799	340	21	—	—	PUNCT
taxlaw-9799	340	22	foreign	foreign	ADJ
taxlaw-9799	340	23	and	and	CCONJ
taxlaw-9799	340	24	individual	individual	ADJ
taxlaw-9799	340	25	shareholders.83	shareholders.83	NOUN
taxlaw-9799	340	26	therefore	therefore	ADV
taxlaw-9799	340	27	,	,	PUNCT
taxlaw-9799	340	28	attempting	attempt	VERB
taxlaw-9799	340	29	to	to	PART
taxlaw-9799	340	30	spin	spin	VERB
taxlaw-9799	340	31	off	off	ADP
taxlaw-9799	340	32	a	a	DET
taxlaw-9799	340	33	cfc	cfc	NOUN
taxlaw-9799	340	34	with	with	ADP
taxlaw-9799	340	35	appreciated	appreciated	ADJ
taxlaw-9799	340	36	assets	asset	NOUN
taxlaw-9799	340	37	is	be	AUX
taxlaw-9799	340	38	often	often	ADV
taxlaw-9799	340	39	prohibitively	prohibitively	ADV
taxlaw-9799	340	40	expensive	expensive	ADJ
taxlaw-9799	340	41	.	.	PUNCT
taxlaw-9799	341	1	restructuring	restructure	VERB
taxlaw-9799	341	2	a	a	DET
taxlaw-9799	341	3	transaction	transaction	NOUN
taxlaw-9799	341	4	to	to	PART
taxlaw-9799	341	5	circumvent	circumvent	VERB
taxlaw-9799	341	6	section	section	NOUN
taxlaw-9799	341	7	367(e)(1	367(e)(1	NUM
taxlaw-9799	341	8	)	)	PUNCT
taxlaw-9799	341	9	and	and	CCONJ
taxlaw-9799	341	10	treasury	treasury	NOUN
taxlaw-9799	341	11	regulation	regulation	NOUN
taxlaw-9799	341	12	section	section	NOUN
taxlaw-9799	341	13	1.367(b)-5	1.367(b)-5	NUM
taxlaw-9799	341	14	requires	require	VERB
taxlaw-9799	341	15	navigating	navigate	VERB
taxlaw-9799	341	16	the	the	DET
taxlaw-9799	341	17	complex	complex	ADJ
taxlaw-9799	341	18	anti	anti	ADJ
taxlaw-9799	341	19	-	-	ADJ
taxlaw-9799	341	20	inversion	inversion	ADJ
taxlaw-9799	341	21	provisions	provision	NOUN
taxlaw-9799	341	22	and	and	CCONJ
taxlaw-9799	341	23	related	related	ADJ
taxlaw-9799	341	24	regulations	regulation	NOUN
taxlaw-9799	341	25	under	under	ADP
taxlaw-9799	341	26	section	section	NOUN
taxlaw-9799	341	27	7874	7874	NUM
taxlaw-9799	341	28	,	,	PUNCT
taxlaw-9799	341	29	which	which	PRON
taxlaw-9799	341	30	include	include	VERB
taxlaw-9799	341	31	numerous	numerous	ADJ
taxlaw-9799	341	32	traps	trap	NOUN
taxlaw-9799	341	33	for	for	ADP
taxlaw-9799	341	34	the	the	DET
taxlaw-9799	341	35	unwary.84	unwary.84	NOUN
taxlaw-9799	341	36	therefore	therefore	ADV
taxlaw-9799	341	37	,	,	PUNCT
taxlaw-9799	341	38	the	the	DET
taxlaw-9799	341	39	spin	spin	VERB
taxlaw-9799	341	40	-	-	PUNCT
taxlaw-9799	341	41	off	off	ADP
taxlaw-9799	341	42	rules	rule	NOUN
taxlaw-9799	341	43	in	in	ADP
taxlaw-9799	341	44	the	the	DET
taxlaw-9799	341	45	international	international	ADJ
taxlaw-9799	341	46	arena	arena	NOUN
taxlaw-9799	341	47	can	can	AUX
taxlaw-9799	341	48	be	be	AUX
taxlaw-9799	341	49	viewed	view	VERB
taxlaw-9799	341	50	as	as	ADP
taxlaw-9799	341	51	punishing	punish	VERB
taxlaw-9799	341	52	multinational	multinational	ADJ
taxlaw-9799	341	53	conglomerates	conglomerate	NOUN
taxlaw-9799	341	54	wishing	wish	VERB
taxlaw-9799	341	55	to	to	PART
taxlaw-9799	341	56	downsize	downsize	VERB
taxlaw-9799	341	57	.	.	PUNCT
taxlaw-9799	342	1	in	in	ADP
taxlaw-9799	342	2	light	light	NOUN
taxlaw-9799	342	3	of	of	ADP
taxlaw-9799	342	4	various	various	ADJ
taxlaw-9799	342	5	changes	change	NOUN
taxlaw-9799	342	6	in	in	ADP
taxlaw-9799	342	7	the	the	DET
taxlaw-9799	342	8	2017	2017	NUM
taxlaw-9799	342	9	tax	tax	NOUN
taxlaw-9799	342	10	cuts	cut	NOUN
taxlaw-9799	342	11	and	and	CCONJ
taxlaw-9799	342	12	jobs	job	NOUN
taxlaw-9799	342	13	act	act	VERB
taxlaw-9799	342	14	including	include	VERB
taxlaw-9799	342	15	the	the	DET
taxlaw-9799	342	16	section	section	NOUN
taxlaw-9799	342	17	245a	245a	NUM
taxlaw-9799	342	18	100	100	NUM
taxlaw-9799	342	19	%	%	NOUN
taxlaw-9799	342	20	“	"	PUNCT
taxlaw-9799	342	21	exemptive	exemptive	NOUN
taxlaw-9799	342	22	deduction	deduction	NOUN
taxlaw-9799	342	23	”	"	PUNCT
taxlaw-9799	342	24	for	for	ADP
taxlaw-9799	342	25	most	most	ADJ
taxlaw-9799	342	26	dividends	dividend	NOUN
taxlaw-9799	342	27	received	receive	VERB
taxlaw-9799	342	28	from	from	ADP
taxlaw-9799	342	29	10%-owned	10%-owned	NUM
taxlaw-9799	342	30	foreign	foreign	ADJ
taxlaw-9799	342	31	corporations	corporation	NOUN
taxlaw-9799	342	32	,	,	PUNCT
taxlaw-9799	342	33	the	the	DET
taxlaw-9799	342	34	government	government	NOUN
taxlaw-9799	342	35	may	may	AUX
taxlaw-9799	342	36	need	need	VERB
taxlaw-9799	342	37	to	to	PART
taxlaw-9799	342	38	reconsider	reconsider	VERB
taxlaw-9799	342	39	whether	whether	SCONJ
taxlaw-9799	342	40	some	some	PRON
taxlaw-9799	342	41	of	of	ADP
taxlaw-9799	342	42	the	the	DET
taxlaw-9799	342	43	inbound	inbound	ADJ
taxlaw-9799	342	44	provisions	provision	NOUN
taxlaw-9799	342	45	under	under	ADP
taxlaw-9799	342	46	section	section	NOUN
taxlaw-9799	342	47	367(b	367(b	PROPN
taxlaw-9799	342	48	)	)	PUNCT
taxlaw-9799	342	49	still	still	ADV
taxlaw-9799	342	50	make	make	VERB
taxlaw-9799	342	51	sense	sense	NOUN
taxlaw-9799	342	52	today	today	NOUN
taxlaw-9799	342	53	.	.	PUNCT
taxlaw-9799	343	1	81	81	NUM
taxlaw-9799	343	2	§	§	PROPN
taxlaw-9799	343	3	367(e)(1	367(e)(1	NUM
taxlaw-9799	343	4	)	)	PUNCT
taxlaw-9799	343	5	.	.	PUNCT
taxlaw-9799	344	1	82	82	NUM
taxlaw-9799	345	1	§	§	PROPN
taxlaw-9799	345	2	1.367(b)-5(b)(1)(ii	1.367(b)-5(b)(1)(ii	NUM
taxlaw-9799	345	3	)	)	PUNCT
taxlaw-9799	345	4	.	.	PUNCT
taxlaw-9799	346	1	83	83	NUM
taxlaw-9799	346	2	u.s	u.s	PROPN
taxlaw-9799	346	3	.	.	PROPN
taxlaw-9799	346	4	individuals	individual	NOUN
taxlaw-9799	346	5	and	and	CCONJ
taxlaw-9799	346	6	foreigners	foreigner	NOUN
taxlaw-9799	346	7	often	often	ADV
taxlaw-9799	346	8	constitute	constitute	VERB
taxlaw-9799	346	9	more	more	ADJ
taxlaw-9799	346	10	than	than	ADP
taxlaw-9799	346	11	half	half	NOUN
taxlaw-9799	346	12	of	of	ADP
taxlaw-9799	346	13	a	a	DET
taxlaw-9799	346	14	multinational	multinational	ADJ
taxlaw-9799	346	15	conglomerate	conglomerate	NOUN
taxlaw-9799	346	16	’s	’s	PART
taxlaw-9799	346	17	shareholder	shareholder	NOUN
taxlaw-9799	346	18	base	base	NOUN
taxlaw-9799	346	19	.	.	PUNCT
taxlaw-9799	347	1	in	in	ADP
taxlaw-9799	347	2	addition	addition	NOUN
taxlaw-9799	347	3	,	,	PUNCT
taxlaw-9799	347	4	mutual	mutual	ADJ
taxlaw-9799	347	5	funds	fund	NOUN
taxlaw-9799	347	6	and	and	CCONJ
taxlaw-9799	347	7	tax	tax	NOUN
taxlaw-9799	347	8	-	-	PUNCT
taxlaw-9799	347	9	exempts	exempt	NOUN
taxlaw-9799	347	10	typically	typically	ADV
taxlaw-9799	347	11	own	own	VERB
taxlaw-9799	347	12	large	large	ADJ
taxlaw-9799	347	13	blocks	block	NOUN
taxlaw-9799	347	14	of	of	ADP
taxlaw-9799	347	15	the	the	DET
taxlaw-9799	347	16	stock	stock	NOUN
taxlaw-9799	347	17	of	of	ADP
taxlaw-9799	347	18	multinational	multinational	ADJ
taxlaw-9799	347	19	conglomerates	conglomerate	NOUN
taxlaw-9799	347	20	.	.	PUNCT
taxlaw-9799	348	1	whether	whether	SCONJ
taxlaw-9799	348	2	mutual	mutual	ADJ
taxlaw-9799	348	3	funds	fund	NOUN
taxlaw-9799	348	4	and	and	CCONJ
taxlaw-9799	348	5	tax	tax	NOUN
taxlaw-9799	348	6	-	-	PUNCT
taxlaw-9799	348	7	exempts	exempt	NOUN
taxlaw-9799	348	8	are	be	AUX
taxlaw-9799	348	9	treated	treat	VERB
taxlaw-9799	348	10	as	as	ADP
taxlaw-9799	348	11	corporations	corporation	NOUN
taxlaw-9799	348	12	or	or	CCONJ
taxlaw-9799	348	13	individuals	individual	NOUN
taxlaw-9799	348	14	for	for	ADP
taxlaw-9799	348	15	the	the	DET
taxlaw-9799	348	16	purposes	purpose	NOUN
taxlaw-9799	348	17	of	of	ADP
taxlaw-9799	348	18	these	these	DET
taxlaw-9799	348	19	provisions	provision	NOUN
taxlaw-9799	348	20	is	be	AUX
taxlaw-9799	348	21	unclear	unclear	ADJ
taxlaw-9799	348	22	.	.	PUNCT
taxlaw-9799	349	1	see	see	VERB
taxlaw-9799	349	2	devon	devon	PROPN
taxlaw-9799	349	3	bodoh	bodoh	PROPN
taxlaw-9799	349	4	et	et	PROPN
taxlaw-9799	349	5	al	al	PROPN
taxlaw-9799	349	6	.	.	PROPN
taxlaw-9799	349	7	,	,	PUNCT
taxlaw-9799	349	8	cross	cross	VERB
taxlaw-9799	349	9	border	border	NOUN
taxlaw-9799	349	10	spin	spin	NOUN
taxlaw-9799	349	11	-	-	PUNCT
taxlaw-9799	349	12	offs	off	NOUN
taxlaw-9799	349	13	,	,	PUNCT
taxlaw-9799	349	14	tax	tax	NOUN
taxlaw-9799	349	15	webinar	webinar	NOUN
taxlaw-9799	349	16	series	series	PROPN
taxlaw-9799	349	17	,	,	PUNCT
taxlaw-9799	349	18	weil	weil	PROPN
taxlaw-9799	349	19	,	,	PUNCT
taxlaw-9799	349	20	gotshal	gotshal	NOUN
taxlaw-9799	349	21	&	&	CCONJ
taxlaw-9799	349	22	manges	manges	PROPN
taxlaw-9799	349	23	llp	llp	PROPN
taxlaw-9799	349	24	(	(	PUNCT
taxlaw-9799	349	25	mar	mar	PROPN
taxlaw-9799	349	26	.	.	PROPN
taxlaw-9799	349	27	10	10	NUM
taxlaw-9799	349	28	,	,	PUNCT
taxlaw-9799	349	29	2021	2021	NUM
taxlaw-9799	349	30	)	)	PUNCT
taxlaw-9799	349	31	,	,	PUNCT
taxlaw-9799	350	1	https://www.weil.com/~/media/mailings/2021/q1/210310cross-border-spinoffs.pdf	https://www.weil.com/~/media/mailings/2021/q1/210310cross-border-spinoffs.pdf	PROPN
taxlaw-9799	350	2	[	[	X
taxlaw-9799	350	3	https://perma.cc/v5bq-qecj	https://perma.cc/v5bq-qecj	NOUN
taxlaw-9799	350	4	]	]	X
taxlaw-9799	350	5	.	.	PUNCT
taxlaw-9799	351	1	84	84	NUM
taxlaw-9799	351	2	see	see	VERB
taxlaw-9799	351	3	§	§	PROPN
taxlaw-9799	351	4	7874	7874	NUM
taxlaw-9799	351	5	;	;	PUNCT
taxlaw-9799	351	6	bodoh	bodoh	NOUN
taxlaw-9799	351	7	et	et	PROPN
taxlaw-9799	351	8	al	al	PROPN
taxlaw-9799	351	9	.	.	PROPN
taxlaw-9799	351	10	,	,	PUNCT
taxlaw-9799	351	11	supra	supra	PROPN
taxlaw-9799	351	12	note	note	NOUN
taxlaw-9799	351	13	81	81	NUM
taxlaw-9799	351	14	(	(	PUNCT
taxlaw-9799	351	15	“	"	PUNCT
taxlaw-9799	351	16	section	section	NOUN
taxlaw-9799	351	17	7874	7874	NUM
taxlaw-9799	351	18	provides	provide	VERB
taxlaw-9799	351	19	potentially	potentially	ADV
taxlaw-9799	351	20	detrimental	detrimental	ADJ
taxlaw-9799	351	21	u.s	u.s	PROPN
taxlaw-9799	351	22	.	.	PROPN
taxlaw-9799	351	23	tax	tax	NOUN
taxlaw-9799	351	24	consequences	consequence	NOUN
taxlaw-9799	351	25	to	to	ADP
taxlaw-9799	351	26	a	a	DET
taxlaw-9799	351	27	u.s	u.s	PROPN
taxlaw-9799	351	28	.	.	PROPN
taxlaw-9799	351	29	corporation	corporation	NOUN
taxlaw-9799	351	30	that	that	PRON
taxlaw-9799	351	31	undergoes	undergo	VERB
taxlaw-9799	351	32	a	a	DET
taxlaw-9799	351	33	transaction	transaction	NOUN
taxlaw-9799	351	34	whereby	whereby	SCONJ
taxlaw-9799	351	35	all	all	PRON
taxlaw-9799	351	36	of	of	ADP
taxlaw-9799	351	37	its	its	PRON
taxlaw-9799	351	38	assets	asset	NOUN
taxlaw-9799	351	39	are	be	AUX
taxlaw-9799	351	40	acquired	acquire	VERB
taxlaw-9799	351	41	by	by	ADP
taxlaw-9799	351	42	a	a	DET
taxlaw-9799	351	43	foreign	foreign	ADJ
taxlaw-9799	351	44	corporation	corporation	NOUN
taxlaw-9799	351	45	.	.	PUNCT
taxlaw-9799	351	46	.	.	PUNCT
taxlaw-9799	352	1	.	.	PUNCT
taxlaw-9799	353	1	and	and	CCONJ
taxlaw-9799	353	2	greater	great	ADJ
taxlaw-9799	353	3	than	than	ADP
taxlaw-9799	353	4	a	a	DET
taxlaw-9799	353	5	threshold	threshold	NOUN
taxlaw-9799	353	6	percentage	percentage	NOUN
taxlaw-9799	353	7	of	of	ADP
taxlaw-9799	353	8	foreign	foreign	ADJ
taxlaw-9799	353	9	acquirer	acquirer	NOUN
taxlaw-9799	353	10	stock	stock	NOUN
taxlaw-9799	353	11	.	.	PUNCT
taxlaw-9799	353	12	.	.	PUNCT
taxlaw-9799	354	1	.	.	PUNCT
taxlaw-9799	355	1	is	be	AUX
taxlaw-9799	355	2	received	receive	VERB
taxlaw-9799	355	3	by	by	ADP
taxlaw-9799	355	4	the	the	DET
taxlaw-9799	355	5	u.s	u.s	PROPN
taxlaw-9799	355	6	.	.	PROPN
taxlaw-9799	355	7	corporation	corporation	PROPN
taxlaw-9799	355	8	’s	’s	PART
taxlaw-9799	355	9	shareholders	shareholder	NOUN
taxlaw-9799	355	10	by	by	ADP
taxlaw-9799	355	11	reason	reason	NOUN
taxlaw-9799	355	12	of	of	ADP
taxlaw-9799	355	13	holding	hold	VERB
taxlaw-9799	355	14	u.s	u.s	PROPN
taxlaw-9799	355	15	.	.	PROPN
taxlaw-9799	355	16	corporation	corporation	NOUN
taxlaw-9799	355	17	stock	stock	NOUN
taxlaw-9799	355	18	.	.	PUNCT
taxlaw-9799	355	19	”	"	PUNCT
taxlaw-9799	355	20	)	)	PUNCT
taxlaw-9799	355	21	.	.	PUNCT
taxlaw-9799	356	1	2022	2022	NUM
taxlaw-9799	356	2	]	]	PUNCT
taxlaw-9799	356	3	conglomerate	conglomerate	NOUN
taxlaw-9799	356	4	spin	spin	NOUN
taxlaw-9799	356	5	-	-	PUNCT
taxlaw-9799	356	6	offs	off	NOUN
taxlaw-9799	356	7	182	182	NUM
taxlaw-9799	356	8	b.	b.	NOUN
taxlaw-9799	356	9	private	private	ADJ
taxlaw-9799	356	10	letter	letter	NOUN
taxlaw-9799	356	11	rulings	ruling	NOUN
taxlaw-9799	356	12	before	before	SCONJ
taxlaw-9799	356	13	a	a	DET
taxlaw-9799	356	14	conglomerate	conglomerate	NOUN
taxlaw-9799	356	15	performs	perform	VERB
taxlaw-9799	356	16	a	a	DET
taxlaw-9799	356	17	high	high	ADJ
taxlaw-9799	356	18	-	-	PUNCT
taxlaw-9799	356	19	stakes	stake	NOUN
taxlaw-9799	356	20	,	,	PUNCT
taxlaw-9799	356	21	tax	tax	NOUN
taxlaw-9799	356	22	-	-	PUNCT
taxlaw-9799	356	23	free	free	ADJ
taxlaw-9799	356	24	spin	spin	NOUN
taxlaw-9799	356	25	-	-	PUNCT
taxlaw-9799	356	26	off	off	NOUN
taxlaw-9799	356	27	—	—	PUNCT
taxlaw-9799	356	28	particularly	particularly	ADV
taxlaw-9799	356	29	one	one	NUM
taxlaw-9799	356	30	in	in	ADP
taxlaw-9799	356	31	which	which	PRON
taxlaw-9799	356	32	some	some	DET
taxlaw-9799	356	33	aspect	aspect	NOUN
taxlaw-9799	356	34	of	of	ADP
taxlaw-9799	356	35	the	the	DET
taxlaw-9799	356	36	transaction	transaction	NOUN
taxlaw-9799	356	37	might	might	AUX
taxlaw-9799	356	38	be	be	AUX
taxlaw-9799	356	39	considered	consider	VERB
taxlaw-9799	356	40	abusive	abusive	ADJ
taxlaw-9799	356	41	,	,	PUNCT
taxlaw-9799	356	42	novel	novel	NOUN
taxlaw-9799	356	43	,	,	PUNCT
taxlaw-9799	356	44	or	or	CCONJ
taxlaw-9799	356	45	uncertain	uncertain	ADJ
taxlaw-9799	356	46	—	—	PUNCT
taxlaw-9799	356	47	it	it	PRON
taxlaw-9799	356	48	may	may	AUX
taxlaw-9799	356	49	seek	seek	VERB
taxlaw-9799	356	50	a	a	DET
taxlaw-9799	356	51	private	private	ADJ
taxlaw-9799	356	52	letter	letter	NOUN
taxlaw-9799	356	53	ruling	rule	VERB
taxlaw-9799	356	54	from	from	ADP
taxlaw-9799	356	55	the	the	DET
taxlaw-9799	356	56	i.r.s	i.r.s	NOUN
taxlaw-9799	356	57	.	.	PUNCT
taxlaw-9799	357	1	the	the	DET
taxlaw-9799	357	2	decision	decision	NOUN
taxlaw-9799	357	3	to	to	PART
taxlaw-9799	357	4	request	request	VERB
taxlaw-9799	357	5	a	a	DET
taxlaw-9799	357	6	private	private	ADJ
taxlaw-9799	357	7	letter	letter	NOUN
taxlaw-9799	357	8	ruling	ruling	NOUN
taxlaw-9799	357	9	depends	depend	VERB
taxlaw-9799	357	10	on	on	ADP
taxlaw-9799	357	11	many	many	ADJ
taxlaw-9799	357	12	factors	factor	NOUN
taxlaw-9799	357	13	,	,	PUNCT
taxlaw-9799	357	14	including	include	VERB
taxlaw-9799	357	15	cost	cost	NOUN
taxlaw-9799	357	16	,	,	PUNCT
taxlaw-9799	357	17	speed	speed	NOUN
taxlaw-9799	357	18	,	,	PUNCT
taxlaw-9799	357	19	certainty	certainty	NOUN
taxlaw-9799	357	20	,	,	PUNCT
taxlaw-9799	357	21	and	and	CCONJ
taxlaw-9799	357	22	risk.85	risk.85	VERB
taxlaw-9799	357	23	the	the	DET
taxlaw-9799	357	24	process	process	NOUN
taxlaw-9799	357	25	is	be	AUX
taxlaw-9799	357	26	costly	costly	ADJ
taxlaw-9799	357	27	and	and	CCONJ
taxlaw-9799	357	28	slow	slow	ADJ
taxlaw-9799	357	29	,	,	PUNCT
taxlaw-9799	357	30	and	and	CCONJ
taxlaw-9799	357	31	there	there	PRON
taxlaw-9799	357	32	are	be	VERB
taxlaw-9799	357	33	risks	risk	NOUN
taxlaw-9799	357	34	associated	associate	VERB
taxlaw-9799	357	35	with	with	ADP
taxlaw-9799	357	36	having	have	VERB
taxlaw-9799	357	37	a	a	DET
taxlaw-9799	357	38	request	request	NOUN
taxlaw-9799	357	39	denied.86	denied.86	NOUN
taxlaw-9799	357	40	it	it	PRON
taxlaw-9799	357	41	may	may	AUX
taxlaw-9799	357	42	be	be	AUX
taxlaw-9799	357	43	“	"	PUNCT
taxlaw-9799	357	44	better	well	ADJ
taxlaw-9799	357	45	not	not	PART
taxlaw-9799	357	46	to	to	PART
taxlaw-9799	357	47	ask	ask	VERB
taxlaw-9799	357	48	than	than	SCONJ
taxlaw-9799	357	49	to	to	PART
taxlaw-9799	357	50	ask	ask	VERB
taxlaw-9799	357	51	and	and	CCONJ
taxlaw-9799	357	52	be	be	AUX
taxlaw-9799	357	53	denied	deny	VERB
taxlaw-9799	357	54	.	.	PUNCT
taxlaw-9799	358	1	”87	”87	PROPN
taxlaw-9799	358	2	regardless	regardless	ADV
taxlaw-9799	358	3	of	of	ADP
taxlaw-9799	358	4	whether	whether	SCONJ
taxlaw-9799	358	5	the	the	DET
taxlaw-9799	358	6	company	company	NOUN
taxlaw-9799	358	7	requests	request	VERB
taxlaw-9799	358	8	a	a	DET
taxlaw-9799	358	9	private	private	ADJ
taxlaw-9799	358	10	letter	letter	NOUN
taxlaw-9799	358	11	ruling	ruling	NOUN
taxlaw-9799	358	12	,	,	PUNCT
taxlaw-9799	358	13	it	it	PRON
taxlaw-9799	358	14	will	will	AUX
taxlaw-9799	358	15	undoubtedly	undoubtedly	ADV
taxlaw-9799	358	16	request	request	VERB
taxlaw-9799	358	17	that	that	SCONJ
taxlaw-9799	358	18	its	its	PRON
taxlaw-9799	358	19	tax	tax	NOUN
taxlaw-9799	358	20	counsel	counsel	NOUN
taxlaw-9799	358	21	approve	approve	VERB
taxlaw-9799	358	22	the	the	DET
taxlaw-9799	358	23	transaction	transaction	NOUN
taxlaw-9799	358	24	.	.	PUNCT
taxlaw-9799	359	1	typically	typically	ADV
taxlaw-9799	359	2	,	,	PUNCT
taxlaw-9799	359	3	corporations	corporation	NOUN
taxlaw-9799	359	4	require	require	VERB
taxlaw-9799	359	5	“	"	PUNCT
taxlaw-9799	359	6	will	will	AUX
taxlaw-9799	359	7	-	-	PUNCT
taxlaw-9799	359	8	level”—or	level”—or	NOUN
taxlaw-9799	359	9	at	at	ADP
taxlaw-9799	359	10	a	a	DET
taxlaw-9799	359	11	minimum	minimum	NOUN
taxlaw-9799	359	12	“	"	PUNCT
taxlaw-9799	359	13	should	should	AUX
taxlaw-9799	359	14	-	-	PUNCT
taxlaw-9799	359	15	level	level	NOUN
taxlaw-9799	359	16	”	"	PUNCT
taxlaw-9799	359	17	—	—	PUNCT
taxlaw-9799	359	18	opinions	opinion	NOUN
taxlaw-9799	359	19	from	from	ADP
taxlaw-9799	359	20	a	a	DET
taxlaw-9799	359	21	reputable	reputable	ADJ
taxlaw-9799	359	22	law	law	NOUN
taxlaw-9799	359	23	firm	firm	NOUN
taxlaw-9799	359	24	and	and	CCONJ
taxlaw-9799	359	25	one	one	NUM
taxlaw-9799	359	26	of	of	ADP
taxlaw-9799	359	27	the	the	DET
taxlaw-9799	359	28	big	big	ADJ
taxlaw-9799	359	29	-	-	PUNCT
taxlaw-9799	359	30	four	four	NUM
taxlaw-9799	359	31	accounting	accounting	NOUN
taxlaw-9799	359	32	firms.88	firms.88	PROPN
taxlaw-9799	359	33	the	the	DET
taxlaw-9799	359	34	i.r.s	i.r.s	PROPN
taxlaw-9799	359	35	.	.	PUNCT
taxlaw-9799	359	36	has	have	AUX
taxlaw-9799	359	37	changed	change	VERB
taxlaw-9799	359	38	its	its	PRON
taxlaw-9799	359	39	policies	policy	NOUN
taxlaw-9799	359	40	over	over	ADP
taxlaw-9799	359	41	the	the	DET
taxlaw-9799	359	42	past	past	ADJ
taxlaw-9799	359	43	couple	couple	NOUN
taxlaw-9799	359	44	of	of	ADP
taxlaw-9799	359	45	decades	decade	NOUN
taxlaw-9799	359	46	with	with	ADP
taxlaw-9799	359	47	respect	respect	NOUN
taxlaw-9799	359	48	to	to	ADP
taxlaw-9799	359	49	the	the	DET
taxlaw-9799	359	50	private	private	ADJ
taxlaw-9799	359	51	letter	letter	NOUN
taxlaw-9799	359	52	ruling	ruling	NOUN
taxlaw-9799	359	53	procedures	procedure	NOUN
taxlaw-9799	359	54	for	for	ADP
taxlaw-9799	359	55	spin	spin	NOUN
taxlaw-9799	359	56	-	-	PUNCT
taxlaw-9799	359	57	offs	off	NOUN
taxlaw-9799	359	58	.	.	PUNCT
taxlaw-9799	360	1	in	in	ADP
taxlaw-9799	360	2	2003	2003	NUM
taxlaw-9799	360	3	,	,	PUNCT
taxlaw-9799	360	4	the	the	DET
taxlaw-9799	360	5	i.r.s	i.r.s	NOUN
taxlaw-9799	360	6	.	.	PUNCT
taxlaw-9799	360	7	announced	announce	VERB
taxlaw-9799	360	8	that	that	SCONJ
taxlaw-9799	360	9	it	it	PRON
taxlaw-9799	360	10	would	would	AUX
taxlaw-9799	360	11	stop	stop	VERB
taxlaw-9799	360	12	issuing	issue	VERB
taxlaw-9799	360	13	rulings	ruling	NOUN
taxlaw-9799	360	14	on	on	ADP
taxlaw-9799	360	15	whether	whether	SCONJ
taxlaw-9799	360	16	a	a	DET
taxlaw-9799	360	17	spin	spin	VERB
taxlaw-9799	360	18	-	-	PUNCT
taxlaw-9799	360	19	off	off	NOUN
taxlaw-9799	360	20	constitutes	constitute	VERB
taxlaw-9799	360	21	a	a	DET
taxlaw-9799	360	22	device	device	NOUN
taxlaw-9799	360	23	,	,	PUNCT
taxlaw-9799	360	24	whether	whether	SCONJ
taxlaw-9799	360	25	the	the	DET
taxlaw-9799	360	26	stated	state	VERB
taxlaw-9799	360	27	corporate	corporate	ADJ
taxlaw-9799	360	28	business	business	NOUN
taxlaw-9799	360	29	purpose	purpose	NOUN
taxlaw-9799	360	30	for	for	ADP
taxlaw-9799	360	31	a	a	DET
taxlaw-9799	360	32	spin	spin	NOUN
taxlaw-9799	360	33	-	-	PUNCT
taxlaw-9799	360	34	off	off	NOUN
taxlaw-9799	360	35	is	be	AUX
taxlaw-9799	360	36	legitimate	legitimate	ADJ
taxlaw-9799	360	37	,	,	PUNCT
taxlaw-9799	360	38	and	and	CCONJ
taxlaw-9799	360	39	whether	whether	SCONJ
taxlaw-9799	360	40	a	a	DET
taxlaw-9799	360	41	spin	spin	NOUN
taxlaw-9799	360	42	-	-	PUNCT
taxlaw-9799	360	43	off	off	NOUN
taxlaw-9799	360	44	and	and	CCONJ
taxlaw-9799	360	45	a	a	DET
taxlaw-9799	360	46	related	related	ADJ
taxlaw-9799	360	47	acquisition	acquisition	NOUN
taxlaw-9799	360	48	constitute	constitute	VERB
taxlaw-9799	360	49	a	a	DET
taxlaw-9799	360	50	plan	plan	NOUN
taxlaw-9799	360	51	under	under	ADP
taxlaw-9799	360	52	section	section	NOUN
taxlaw-9799	360	53	355(e).89	355(e).89	NUM
taxlaw-9799	360	54	these	these	DET
taxlaw-9799	360	55	new	new	ADJ
taxlaw-9799	360	56	“	"	PUNCT
taxlaw-9799	360	57	no	no	DET
taxlaw-9799	360	58	-	-	PUNCT
taxlaw-9799	360	59	rule	rule	NOUN
taxlaw-9799	360	60	”	"	PUNCT
taxlaw-9799	360	61	areas	area	NOUN
taxlaw-9799	360	62	made	make	VERB
taxlaw-9799	360	63	spin	spin	NOUN
taxlaw-9799	360	64	-	-	PUNCT
taxlaw-9799	360	65	offs	off	NOUN
taxlaw-9799	360	66	slightly	slightly	ADV
taxlaw-9799	360	67	riskier	risky	ADJ
taxlaw-9799	360	68	and	and	CCONJ
taxlaw-9799	360	69	more	more	ADV
taxlaw-9799	360	70	uncertain	uncertain	ADJ
taxlaw-9799	360	71	.	.	PUNCT
taxlaw-9799	361	1	in	in	ADP
taxlaw-9799	361	2	2005	2005	NUM
taxlaw-9799	361	3	,	,	PUNCT
taxlaw-9799	361	4	the	the	DET
taxlaw-9799	361	5	i.r.s	i.r.s	NOUN
taxlaw-9799	361	6	.	.	PUNCT
taxlaw-9799	361	7	announced	announce	VERB
taxlaw-9799	361	8	that	that	SCONJ
taxlaw-9799	361	9	it	it	PRON
taxlaw-9799	361	10	would	would	AUX
taxlaw-9799	361	11	attempt	attempt	VERB
taxlaw-9799	361	12	to	to	PART
taxlaw-9799	361	13	expedite	expedite	VERB
taxlaw-9799	361	14	the	the	DET
taxlaw-9799	361	15	private	private	ADJ
taxlaw-9799	361	16	letter	letter	NOUN
taxlaw-9799	361	17	ruling	ruling	NOUN
taxlaw-9799	361	18	process	process	NOUN
taxlaw-9799	361	19	by	by	ADP
taxlaw-9799	361	20	issuing	issue	VERB
taxlaw-9799	361	21	its	its	PRON
taxlaw-9799	361	22	decisions	decision	NOUN
taxlaw-9799	361	23	within	within	ADP
taxlaw-9799	361	24	ten	ten	NUM
taxlaw-9799	361	25	weeks	week	NOUN
taxlaw-9799	361	26	of	of	ADP
taxlaw-9799	361	27	receiving	receive	VERB
taxlaw-9799	361	28	a	a	DET
taxlaw-9799	361	29	request.90	request.90	NOUN
taxlaw-9799	361	30	and	and	CCONJ
taxlaw-9799	361	31	in	in	ADP
taxlaw-9799	361	32	2009	2009	NUM
taxlaw-9799	361	33	,	,	PUNCT
taxlaw-9799	361	34	the	the	DET
taxlaw-9799	361	35	i.r.s	i.r.	NOUN
taxlaw-9799	361	36	.	.	PUNCT
taxlaw-9799	361	37	allowed	allow	VERB
taxlaw-9799	361	38	taxpayers	taxpayer	NOUN
taxlaw-9799	361	39	to	to	PART
taxlaw-9799	361	40	request	request	VERB
taxlaw-9799	361	41	rulings	ruling	NOUN
taxlaw-9799	361	42	on	on	ADP
taxlaw-9799	361	43	the	the	DET
taxlaw-9799	361	44	discrete	discrete	ADJ
taxlaw-9799	361	45	aspects	aspect	NOUN
taxlaw-9799	361	46	of	of	ADP
taxlaw-9799	361	47	a	a	DET
taxlaw-9799	361	48	spin	spin	NOUN
taxlaw-9799	361	49	-	-	PUNCT
taxlaw-9799	361	50	off	off	NOUN
taxlaw-9799	361	51	within	within	ADP
taxlaw-9799	361	52	an	an	DET
taxlaw-9799	361	53	integrated	integrate	VERB
taxlaw-9799	361	54	transaction	transaction	NOUN
taxlaw-9799	361	55	without	without	ADP
taxlaw-9799	361	56	ruling	rule	VERB
taxlaw-9799	361	57	on	on	ADP
taxlaw-9799	361	58	the	the	DET
taxlaw-9799	361	59	larger	large	ADJ
taxlaw-9799	361	60	transaction.91	transaction.91	NOUN
taxlaw-9799	361	61	these	these	PRON
taxlaw-9799	361	62	were	be	AUX
taxlaw-9799	361	63	taxpayer	taxpayer	NOUN
taxlaw-9799	361	64	-	-	PUNCT
taxlaw-9799	361	65	friendly	friendly	ADJ
taxlaw-9799	361	66	policy	policy	NOUN
taxlaw-9799	361	67	changes	change	NOUN
taxlaw-9799	361	68	because	because	SCONJ
taxlaw-9799	361	69	the	the	DET
taxlaw-9799	361	70	former	former	ADJ
taxlaw-9799	361	71	policy	policy	NOUN
taxlaw-9799	361	72	change	change	NOUN
taxlaw-9799	361	73	hastened	hasten	VERB
taxlaw-9799	361	74	the	the	DET
taxlaw-9799	361	75	issuance	issuance	NOUN
taxlaw-9799	361	76	of	of	ADP
taxlaw-9799	361	77	so	so	ADV
taxlaw-9799	361	78	-	-	PUNCT
taxlaw-9799	361	79	called	call	VERB
taxlaw-9799	361	80	“	"	PUNCT
taxlaw-9799	361	81	comfort	comfort	NOUN
taxlaw-9799	361	82	rulings	ruling	NOUN
taxlaw-9799	361	83	,	,	PUNCT
taxlaw-9799	361	84	”	"	PUNCT
taxlaw-9799	361	85	and	and	CCONJ
taxlaw-9799	361	86	the	the	DET
taxlaw-9799	361	87	85	85	NUM
taxlaw-9799	361	88	robert	robert	PROPN
taxlaw-9799	361	89	w.	w.	PROPN
taxlaw-9799	361	90	wood	wood	PROPN
taxlaw-9799	361	91	,	,	PUNCT
taxlaw-9799	361	92	tax	tax	NOUN
taxlaw-9799	361	93	opinion	opinion	NOUN
taxlaw-9799	361	94	or	or	CCONJ
taxlaw-9799	361	95	private	private	ADJ
taxlaw-9799	361	96	letter	letter	NOUN
taxlaw-9799	361	97	ruling	ruling	NOUN
taxlaw-9799	361	98	?	?	PUNCT
taxlaw-9799	362	1	a	a	DET
taxlaw-9799	362	2	12	12	NUM
taxlaw-9799	362	3	-	-	PUNCT
taxlaw-9799	362	4	point	point	NOUN
taxlaw-9799	362	5	comparison	comparison	NOUN
taxlaw-9799	362	6	,	,	PUNCT
taxlaw-9799	362	7	149	149	NUM
taxlaw-9799	362	8	tax	tax	NOUN
taxlaw-9799	362	9	notes	note	NOUN
taxlaw-9799	362	10	835	835	NUM
taxlaw-9799	362	11	,	,	PUNCT
taxlaw-9799	362	12	835	835	NUM
taxlaw-9799	362	13	(	(	PUNCT
taxlaw-9799	362	14	nov	nov	PROPN
taxlaw-9799	362	15	.	.	PROPN
taxlaw-9799	362	16	9	9	NUM
taxlaw-9799	362	17	,	,	PUNCT
taxlaw-9799	362	18	2015	2015	NUM
taxlaw-9799	362	19	)	)	PUNCT
taxlaw-9799	362	20	.	.	PUNCT
taxlaw-9799	363	1	86	86	NUM
taxlaw-9799	364	1	i	i	PRON
taxlaw-9799	364	2	d.	d.	PROPN
taxlaw-9799	364	3	87	87	NUM
taxlaw-9799	365	1	i	i	PRON
taxlaw-9799	365	2	d.	d.	PROPN
taxlaw-9799	365	3	88	88	NUM
taxlaw-9799	365	4	tax	tax	NOUN
taxlaw-9799	365	5	practitioners	practitioner	NOUN
taxlaw-9799	365	6	offer	offer	VERB
taxlaw-9799	365	7	different	different	ADJ
taxlaw-9799	365	8	levels	level	NOUN
taxlaw-9799	365	9	of	of	ADP
taxlaw-9799	365	10	opinion	opinion	NOUN
taxlaw-9799	365	11	to	to	PART
taxlaw-9799	365	12	express	express	VERB
taxlaw-9799	365	13	their	their	PRON
taxlaw-9799	365	14	varying	vary	VERB
taxlaw-9799	365	15	levels	level	NOUN
taxlaw-9799	365	16	of	of	ADP
taxlaw-9799	365	17	comfort	comfort	NOUN
taxlaw-9799	365	18	with	with	ADP
taxlaw-9799	365	19	a	a	DET
taxlaw-9799	365	20	given	give	VERB
taxlaw-9799	365	21	transaction	transaction	NOUN
taxlaw-9799	365	22	.	.	PUNCT
taxlaw-9799	366	1	see	see	VERB
taxlaw-9799	366	2	robert	robert	PROPN
taxlaw-9799	366	3	p.	p.	PROPN
taxlaw-9799	366	4	rothman	rothman	PROPN
taxlaw-9799	366	5	,	,	PUNCT
taxlaw-9799	366	6	tax	tax	NOUN
taxlaw-9799	366	7	opinion	opinion	NOUN
taxlaw-9799	366	8	practice	practice	NOUN
taxlaw-9799	366	9	,	,	PUNCT
taxlaw-9799	366	10	64	64	NUM
taxlaw-9799	366	11	tax	tax	NOUN
taxlaw-9799	366	12	law	law	NOUN
taxlaw-9799	366	13	.	.	PUNCT
taxlaw-9799	367	1	301	301	NUM
taxlaw-9799	367	2	(	(	PUNCT
taxlaw-9799	367	3	winter	winter	NOUN
taxlaw-9799	367	4	2011	2011	NUM
taxlaw-9799	367	5	)	)	PUNCT
taxlaw-9799	367	6	(	(	PUNCT
taxlaw-9799	367	7	explaining	explain	VERB
taxlaw-9799	367	8	and	and	CCONJ
taxlaw-9799	367	9	quantifying	quantify	VERB
taxlaw-9799	367	10	tax	tax	NOUN
taxlaw-9799	367	11	lawyers	lawyer	NOUN
taxlaw-9799	367	12	’	'	PUNCT
taxlaw-9799	367	13	varying	vary	VERB
taxlaw-9799	367	14	comfort	comfort	NOUN
taxlaw-9799	367	15	levels	level	NOUN
taxlaw-9799	367	16	)	)	PUNCT
taxlaw-9799	367	17	.	.	PUNCT
taxlaw-9799	368	1	“	"	PUNCT
taxlaw-9799	368	2	will	will	AUX
taxlaw-9799	368	3	”	"	PUNCT
taxlaw-9799	368	4	opinions	opinion	NOUN
taxlaw-9799	368	5	represent	represent	VERB
taxlaw-9799	368	6	the	the	DET
taxlaw-9799	368	7	highest	high	ADJ
taxlaw-9799	368	8	level	level	NOUN
taxlaw-9799	368	9	of	of	ADP
taxlaw-9799	368	10	comfort	comfort	NOUN
taxlaw-9799	368	11	,	,	PUNCT
taxlaw-9799	368	12	with	with	ADP
taxlaw-9799	368	13	a	a	DET
taxlaw-9799	368	14	roughly	roughly	ADV
taxlaw-9799	368	15	90	90	NUM
taxlaw-9799	368	16	%	%	NOUN
taxlaw-9799	368	17	chance	chance	NOUN
taxlaw-9799	368	18	that	that	SCONJ
taxlaw-9799	368	19	a	a	DET
taxlaw-9799	368	20	particular	particular	ADJ
taxlaw-9799	368	21	consequence	consequence	NOUN
taxlaw-9799	368	22	will	will	AUX
taxlaw-9799	368	23	ensue	ensue	VERB
taxlaw-9799	368	24	.	.	PUNCT
taxlaw-9799	369	1	i	i	PRON
taxlaw-9799	369	2	d.	d.	PROPN
taxlaw-9799	369	3	at	at	ADP
taxlaw-9799	369	4	312	312	NUM
taxlaw-9799	369	5	,	,	PUNCT
taxlaw-9799	369	6	327	327	NUM
taxlaw-9799	369	7	.	.	PUNCT
taxlaw-9799	370	1	“	"	PUNCT
taxlaw-9799	370	2	should	should	AUX
taxlaw-9799	370	3	”	"	PUNCT
taxlaw-9799	370	4	represents	represent	VERB
taxlaw-9799	370	5	a	a	DET
taxlaw-9799	370	6	reasonably	reasonably	ADV
taxlaw-9799	370	7	high	high	ADJ
taxlaw-9799	370	8	level	level	NOUN
taxlaw-9799	370	9	of	of	ADP
taxlaw-9799	370	10	confidence	confidence	NOUN
taxlaw-9799	370	11	,	,	PUNCT
taxlaw-9799	370	12	around	around	ADV
taxlaw-9799	370	13	70	70	NUM
taxlaw-9799	370	14	-	-	SYM
taxlaw-9799	370	15	90	90	NUM
taxlaw-9799	370	16	%	%	NOUN
taxlaw-9799	370	17	likelihood	likelihood	NOUN
taxlaw-9799	370	18	,	,	PUNCT
taxlaw-9799	370	19	that	that	SCONJ
taxlaw-9799	370	20	the	the	DET
taxlaw-9799	370	21	position	position	NOUN
taxlaw-9799	370	22	will	will	AUX
taxlaw-9799	370	23	be	be	AUX
taxlaw-9799	370	24	sustained	sustain	VERB
taxlaw-9799	370	25	.	.	PUNCT
taxlaw-9799	371	1	i	i	PRON
taxlaw-9799	371	2	d.	d.	PROPN
taxlaw-9799	371	3	at	at	ADP
taxlaw-9799	371	4	313	313	NUM
taxlaw-9799	371	5	,	,	PUNCT
taxlaw-9799	371	6	327	327	NUM
taxlaw-9799	371	7	.	.	PUNCT
taxlaw-9799	372	1	“	"	PUNCT
taxlaw-9799	372	2	more	more	ADV
taxlaw-9799	372	3	likely	likely	ADJ
taxlaw-9799	372	4	than	than	ADP
taxlaw-9799	372	5	not	not	PART
taxlaw-9799	372	6	”	"	PUNCT
taxlaw-9799	372	7	reflects	reflect	VERB
taxlaw-9799	372	8	a	a	DET
taxlaw-9799	372	9	comfort	comfort	NOUN
taxlaw-9799	372	10	level	level	NOUN
taxlaw-9799	372	11	roughly	roughly	ADV
taxlaw-9799	372	12	between	between	ADP
taxlaw-9799	372	13	50	50	NUM
taxlaw-9799	372	14	-	-	SYM
taxlaw-9799	372	15	70	70	NUM
taxlaw-9799	372	16	%	%	NOUN
taxlaw-9799	372	17	.	.	PUNCT
taxlaw-9799	373	1	i	i	PRON
taxlaw-9799	373	2	d.	d.	PROPN
taxlaw-9799	373	3	at	at	ADP
taxlaw-9799	373	4	314	314	NUM
taxlaw-9799	373	5	,	,	PUNCT
taxlaw-9799	373	6	327	327	NUM
taxlaw-9799	373	7	.	.	PUNCT
taxlaw-9799	374	1	“	"	PUNCT
taxlaw-9799	374	2	substantial	substantial	ADJ
taxlaw-9799	374	3	authority	authority	NOUN
taxlaw-9799	374	4	”	"	PUNCT
taxlaw-9799	374	5	means	mean	VERB
taxlaw-9799	374	6	“	"	PUNCT
taxlaw-9799	374	7	the	the	DET
taxlaw-9799	374	8	weight	weight	NOUN
taxlaw-9799	374	9	of	of	ADP
taxlaw-9799	374	10	authorities	authority	NOUN
taxlaw-9799	374	11	in	in	ADP
taxlaw-9799	374	12	support	support	NOUN
taxlaw-9799	374	13	of	of	ADP
taxlaw-9799	374	14	the	the	DET
taxlaw-9799	374	15	position	position	NOUN
taxlaw-9799	374	16	is	be	AUX
taxlaw-9799	374	17	substantial	substantial	ADJ
taxlaw-9799	374	18	in	in	ADP
taxlaw-9799	374	19	relation	relation	NOUN
taxlaw-9799	374	20	to	to	ADP
taxlaw-9799	374	21	the	the	DET
taxlaw-9799	374	22	weight	weight	NOUN
taxlaw-9799	374	23	of	of	ADP
taxlaw-9799	374	24	authorities	authority	NOUN
taxlaw-9799	374	25	supporting	support	VERB
taxlaw-9799	374	26	contrary	contrary	ADJ
taxlaw-9799	374	27	treatment	treatment	NOUN
taxlaw-9799	374	28	.	.	PUNCT
taxlaw-9799	374	29	”	"	PUNCT
taxlaw-9799	375	1	i	i	PRON
taxlaw-9799	375	2	d.	d.	VERB
taxlaw-9799	375	3	at	at	ADP
taxlaw-9799	375	4	319	319	NUM
taxlaw-9799	375	5	.	.	PUNCT
taxlaw-9799	376	1	this	this	DET
taxlaw-9799	376	2	type	type	NOUN
taxlaw-9799	376	3	of	of	ADP
taxlaw-9799	376	4	opinion	opinion	NOUN
taxlaw-9799	376	5	reflects	reflect	VERB
taxlaw-9799	376	6	a	a	DET
taxlaw-9799	376	7	35	35	NUM
taxlaw-9799	376	8	-	-	SYM
taxlaw-9799	376	9	40	40	NUM
taxlaw-9799	376	10	%	%	NOUN
taxlaw-9799	376	11	comfort	comfort	NOUN
taxlaw-9799	376	12	level	level	NOUN
taxlaw-9799	376	13	.	.	PUNCT
taxlaw-9799	377	1	i	i	PRON
taxlaw-9799	377	2	d.	d.	PROPN
taxlaw-9799	377	3	at	at	ADP
taxlaw-9799	377	4	327	327	NUM
taxlaw-9799	377	5	.	.	PUNCT
taxlaw-9799	378	1	“	"	PUNCT
taxlaw-9799	378	2	[	[	X
taxlaw-9799	378	3	a	a	X
taxlaw-9799	378	4	]	]	X
taxlaw-9799	378	5	position	position	NOUN
taxlaw-9799	378	6	has	have	VERB
taxlaw-9799	378	7	a	a	DET
taxlaw-9799	378	8	‘	'	PUNCT
taxlaw-9799	378	9	realistic	realistic	ADJ
taxlaw-9799	378	10	possibility	possibility	NOUN
taxlaw-9799	378	11	of	of	ADP
taxlaw-9799	378	12	success	success	NOUN
taxlaw-9799	378	13	’	'	PUNCT
taxlaw-9799	378	14	if	if	SCONJ
taxlaw-9799	378	15	a	a	DET
taxlaw-9799	378	16	reasonable	reasonable	ADJ
taxlaw-9799	378	17	and	and	CCONJ
taxlaw-9799	378	18	well	well	ADV
taxlaw-9799	378	19	-	-	PUNCT
taxlaw-9799	378	20	informed	inform	VERB
taxlaw-9799	378	21	analysis	analysis	NOUN
taxlaw-9799	378	22	by	by	ADP
taxlaw-9799	378	23	a	a	DET
taxlaw-9799	378	24	person	person	NOUN
taxlaw-9799	378	25	knowledgeable	knowledgeable	ADJ
taxlaw-9799	378	26	in	in	ADP
taxlaw-9799	378	27	the	the	DET
taxlaw-9799	378	28	tax	tax	NOUN
taxlaw-9799	378	29	law	law	NOUN
taxlaw-9799	378	30	would	would	AUX
taxlaw-9799	378	31	lead	lead	VERB
taxlaw-9799	378	32	such	such	ADJ
taxlaw-9799	378	33	person	person	NOUN
taxlaw-9799	378	34	to	to	PART
taxlaw-9799	378	35	conclude	conclude	VERB
taxlaw-9799	378	36	that	that	SCONJ
taxlaw-9799	378	37	the	the	DET
taxlaw-9799	378	38	position	position	NOUN
taxlaw-9799	378	39	has	have	VERB
taxlaw-9799	378	40	approximately	approximately	ADV
taxlaw-9799	378	41	a	a	DET
taxlaw-9799	378	42	one	one	NUM
taxlaw-9799	378	43	-	-	PUNCT
taxlaw-9799	378	44	in	in	ADP
taxlaw-9799	378	45	-	-	PUNCT
taxlaw-9799	378	46	three	three	NUM
taxlaw-9799	378	47	,	,	PUNCT
taxlaw-9799	378	48	or	or	CCONJ
taxlaw-9799	378	49	greater	great	ADJ
taxlaw-9799	378	50	,	,	PUNCT
taxlaw-9799	378	51	likelihood	likelihood	NOUN
taxlaw-9799	378	52	of	of	ADP
taxlaw-9799	378	53	being	be	AUX
taxlaw-9799	378	54	sustained	sustain	VERB
taxlaw-9799	378	55	.	.	PUNCT
taxlaw-9799	378	56	”	"	PUNCT
taxlaw-9799	379	1	i	i	PRON
taxlaw-9799	379	2	d.	d.	PROPN
taxlaw-9799	379	3	at	at	ADP
taxlaw-9799	379	4	321	321	NUM
taxlaw-9799	379	5	.	.	PUNCT
taxlaw-9799	380	1	“	"	PUNCT
taxlaw-9799	380	2	reasonable	reasonable	ADJ
taxlaw-9799	380	3	basis	basis	NOUN
taxlaw-9799	380	4	”	"	PUNCT
taxlaw-9799	380	5	is	be	AUX
taxlaw-9799	380	6	higher	high	ADJ
taxlaw-9799	380	7	than	than	ADP
taxlaw-9799	380	8	“	"	PUNCT
taxlaw-9799	380	9	merely	merely	ADV
taxlaw-9799	380	10	arguable	arguable	ADJ
taxlaw-9799	380	11	”	"	PUNCT
taxlaw-9799	380	12	or	or	CCONJ
taxlaw-9799	380	13	“	"	PUNCT
taxlaw-9799	380	14	merely	merely	ADV
taxlaw-9799	380	15	.	.	PUNCT
taxlaw-9799	380	16	.	.	PUNCT
taxlaw-9799	380	17	.	.	PUNCT
taxlaw-9799	381	1	colorable	colorable	ADJ
taxlaw-9799	381	2	.	.	PUNCT
taxlaw-9799	381	3	”	"	PUNCT
taxlaw-9799	382	1	i	i	PRON
taxlaw-9799	382	2	d.	d.	PROPN
taxlaw-9799	382	3	at	at	ADP
taxlaw-9799	382	4	322	322	NUM
taxlaw-9799	382	5	.	.	PUNCT
taxlaw-9799	383	1	finally	finally	ADV
taxlaw-9799	383	2	,	,	PUNCT
taxlaw-9799	383	3	“	"	PUNCT
taxlaw-9799	383	4	not	not	PART
taxlaw-9799	383	5	frivolous	frivolous	ADJ
taxlaw-9799	383	6	”	"	PUNCT
taxlaw-9799	383	7	is	be	AUX
taxlaw-9799	383	8	the	the	DET
taxlaw-9799	383	9	lowest	low	ADJ
taxlaw-9799	383	10	level	level	NOUN
taxlaw-9799	383	11	at	at	ADP
taxlaw-9799	383	12	which	which	PRON
taxlaw-9799	383	13	there	there	PRON
taxlaw-9799	383	14	is	be	VERB
taxlaw-9799	383	15	still	still	ADV
taxlaw-9799	383	16	“	"	PUNCT
taxlaw-9799	383	17	some	some	DET
taxlaw-9799	383	18	modicum	modicum	NOUN
taxlaw-9799	383	19	of	of	ADP
taxlaw-9799	383	20	comfort	comfort	NOUN
taxlaw-9799	383	21	as	as	ADP
taxlaw-9799	383	22	to	to	ADP
taxlaw-9799	383	23	a	a	DET
taxlaw-9799	383	24	position	position	NOUN
taxlaw-9799	383	25	,	,	PUNCT
taxlaw-9799	383	26	”	"	PUNCT
taxlaw-9799	383	27	where	where	SCONJ
taxlaw-9799	383	28	prior	prior	ADJ
taxlaw-9799	383	29	regulations	regulation	NOUN
taxlaw-9799	383	30	defined	define	VERB
taxlaw-9799	383	31	“	"	PUNCT
taxlaw-9799	383	32	frivolous	frivolous	ADJ
taxlaw-9799	383	33	”	"	PUNCT
taxlaw-9799	383	34	as	as	ADP
taxlaw-9799	383	35	“	"	PUNCT
taxlaw-9799	383	36	patently	patently	ADV
taxlaw-9799	383	37	improper	improper	ADJ
taxlaw-9799	383	38	.	.	PUNCT
taxlaw-9799	383	39	”	"	PUNCT
taxlaw-9799	384	1	i	i	PRON
taxlaw-9799	384	2	d.	d.	VERB
taxlaw-9799	384	3	at	at	ADP
taxlaw-9799	384	4	324	324	NUM
taxlaw-9799	384	5	.	.	PUNCT
taxlaw-9799	385	1	89	89	NUM
taxlaw-9799	385	2	rev	rev	PROPN
taxlaw-9799	385	3	.	.	PROPN
taxlaw-9799	385	4	proc	proc	PROPN
taxlaw-9799	385	5	.	.	PUNCT
taxlaw-9799	385	6	2003	2003	NUM
taxlaw-9799	385	7	-	-	SYM
taxlaw-9799	385	8	48	48	NUM
taxlaw-9799	385	9	,	,	PUNCT
taxlaw-9799	385	10	supra	supra	NOUN
taxlaw-9799	385	11	note	note	NOUN
taxlaw-9799	385	12	46	46	NUM
taxlaw-9799	385	13	.	.	NOUN
taxlaw-9799	385	14	90	90	NUM
taxlaw-9799	385	15	rev	rev	NOUN
taxlaw-9799	385	16	.	.	PROPN
taxlaw-9799	385	17	proc	proc	PROPN
taxlaw-9799	385	18	.	.	PUNCT
taxlaw-9799	386	1	2005	2005	NUM
taxlaw-9799	386	2	-	-	SYM
taxlaw-9799	386	3	68	68	NUM
taxlaw-9799	386	4	,	,	PUNCT
taxlaw-9799	386	5	2005	2005	NUM
taxlaw-9799	386	6	-	-	SYM
taxlaw-9799	386	7	2	2	NUM
taxlaw-9799	386	8	c.b	c.b	PROPN
taxlaw-9799	386	9	.	.	PROPN
taxlaw-9799	386	10	694	694	NUM
taxlaw-9799	386	11	.	.	PUNCT
taxlaw-9799	387	1	see	see	VERB
taxlaw-9799	387	2	j.	j.	PROPN
taxlaw-9799	387	3	william	william	PROPN
taxlaw-9799	387	4	dantzler	dantzler	PROPN
taxlaw-9799	387	5	jr	jr	PROPN
taxlaw-9799	387	6	.	.	PROPN
taxlaw-9799	387	7	,	,	PUNCT
taxlaw-9799	387	8	spin	spin	NOUN
taxlaw-9799	387	9	-	-	PUNCT
taxlaw-9799	387	10	offs	off	NOUN
taxlaw-9799	387	11	:	:	PUNCT
taxlaw-9799	387	12	still	still	ADV
taxlaw-9799	387	13	remarkably	remarkably	ADV
taxlaw-9799	387	14	tax	tax	VERB
taxlaw-9799	387	15	friendly	friendly	ADJ
taxlaw-9799	387	16	,	,	PUNCT
taxlaw-9799	387	17	129	129	NUM
taxlaw-9799	387	18	tax	tax	NOUN
taxlaw-9799	387	19	notes	note	NOUN
taxlaw-9799	387	20	683	683	NUM
taxlaw-9799	387	21	(	(	PUNCT
taxlaw-9799	387	22	nov	nov	PROPN
taxlaw-9799	387	23	.	.	PROPN
taxlaw-9799	387	24	8	8	NUM
taxlaw-9799	387	25	,	,	PUNCT
taxlaw-9799	387	26	2010	2010	NUM
taxlaw-9799	387	27	)	)	PUNCT
taxlaw-9799	387	28	(	(	PUNCT
taxlaw-9799	387	29	observing	observe	VERB
taxlaw-9799	387	30	that	that	DET
taxlaw-9799	387	31	i.r.s	i.r.	NOUN
taxlaw-9799	387	32	.	.	PUNCT
taxlaw-9799	388	1	still	still	ADV
taxlaw-9799	388	2	takes	take	VERB
taxlaw-9799	388	3	fourteen	fourteen	NUM
taxlaw-9799	388	4	to	to	PART
taxlaw-9799	388	5	seventeen	seventeen	NUM
taxlaw-9799	388	6	weeks	week	NOUN
taxlaw-9799	388	7	on	on	ADP
taxlaw-9799	388	8	average	average	ADJ
taxlaw-9799	388	9	,	,	PUNCT
taxlaw-9799	388	10	but	but	CCONJ
taxlaw-9799	388	11	its	its	PRON
taxlaw-9799	388	12	ten	ten	NUM
taxlaw-9799	388	13	-	-	PUNCT
taxlaw-9799	388	14	week	week	NOUN
taxlaw-9799	388	15	goal	goal	NOUN
taxlaw-9799	388	16	is	be	AUX
taxlaw-9799	388	17	viewed	view	VERB
taxlaw-9799	388	18	positively	positively	ADV
taxlaw-9799	388	19	by	by	ADP
taxlaw-9799	388	20	taxpayers	taxpayer	NOUN
taxlaw-9799	388	21	)	)	PUNCT
taxlaw-9799	388	22	.	.	PUNCT
taxlaw-9799	389	1	91	91	NUM
taxlaw-9799	389	2	see	see	NOUN
taxlaw-9799	389	3	rev	rev	PROPN
taxlaw-9799	389	4	.	.	PROPN
taxlaw-9799	389	5	proc	proc	PROPN
taxlaw-9799	389	6	.	.	PUNCT
taxlaw-9799	390	1	2009	2009	NUM
taxlaw-9799	390	2	-	-	SYM
taxlaw-9799	390	3	25	25	NUM
taxlaw-9799	390	4	,	,	PUNCT
taxlaw-9799	390	5	2009	2009	NUM
taxlaw-9799	390	6	-	-	SYM
taxlaw-9799	390	7	1	1	NUM
taxlaw-9799	390	8	c.b	c.b	PROPN
taxlaw-9799	390	9	.	.	PROPN
taxlaw-9799	390	10	1088	1088	NUM
taxlaw-9799	390	11	(	(	PUNCT
taxlaw-9799	390	12	explaining	explain	VERB
taxlaw-9799	390	13	circumstances	circumstance	NOUN
taxlaw-9799	390	14	under	under	ADP
taxlaw-9799	390	15	which	which	PRON
taxlaw-9799	390	16	i.r.s	i.r.	NOUN
taxlaw-9799	390	17	.	.	PUNCT
taxlaw-9799	391	1	may	may	AUX
taxlaw-9799	391	2	issue	issue	VERB
taxlaw-9799	391	3	letter	letter	NOUN
taxlaw-9799	391	4	rulings	ruling	NOUN
taxlaw-9799	391	5	)	)	PUNCT
taxlaw-9799	391	6	.	.	PUNCT
taxlaw-9799	392	1	183	183	NUM
taxlaw-9799	392	2	columbia	columbia	PROPN
taxlaw-9799	392	3	journal	journal	PROPN
taxlaw-9799	392	4	of	of	ADP
taxlaw-9799	392	5	tax	tax	NOUN
taxlaw-9799	392	6	law	law	NOUN
taxlaw-9799	393	1	[	[	X
taxlaw-9799	393	2	vol	vol	NOUN
taxlaw-9799	393	3	:	:	PUNCT
taxlaw-9799	393	4	13:2	13:2	NUM
taxlaw-9799	393	5	latter	latter	ADJ
taxlaw-9799	393	6	policy	policy	NOUN
taxlaw-9799	393	7	change	change	NOUN
taxlaw-9799	393	8	allowed	allow	VERB
taxlaw-9799	393	9	taxpayers	taxpayer	NOUN
taxlaw-9799	393	10	to	to	PART
taxlaw-9799	393	11	avoid	avoid	VERB
taxlaw-9799	393	12	disclosing	disclose	VERB
taxlaw-9799	393	13	extensive	extensive	ADJ
taxlaw-9799	393	14	details	detail	NOUN
taxlaw-9799	393	15	about	about	ADP
taxlaw-9799	393	16	the	the	DET
taxlaw-9799	393	17	overall	overall	ADJ
taxlaw-9799	393	18	context	context	NOUN
taxlaw-9799	393	19	of	of	ADP
taxlaw-9799	393	20	the	the	DET
taxlaw-9799	393	21	spin	spin	NOUN
taxlaw-9799	393	22	-	-	PUNCT
taxlaw-9799	393	23	off	off	NOUN
taxlaw-9799	393	24	if	if	SCONJ
taxlaw-9799	393	25	they	they	PRON
taxlaw-9799	393	26	so	so	ADV
taxlaw-9799	393	27	desired	desire	VERB
taxlaw-9799	393	28	.	.	PUNCT
taxlaw-9799	394	1	nevertheless	nevertheless	ADV
taxlaw-9799	394	2	,	,	PUNCT
taxlaw-9799	394	3	in	in	ADP
taxlaw-9799	394	4	2013	2013	NUM
taxlaw-9799	394	5	,	,	PUNCT
taxlaw-9799	394	6	the	the	DET
taxlaw-9799	394	7	i.r.s	i.r.s	NOUN
taxlaw-9799	394	8	.	.	PUNCT
taxlaw-9799	395	1	changed	change	VERB
taxlaw-9799	395	2	course	course	NOUN
taxlaw-9799	395	3	.	.	PUNCT
taxlaw-9799	396	1	the	the	DET
taxlaw-9799	396	2	service	service	NOUN
taxlaw-9799	396	3	altered	alter	VERB
taxlaw-9799	396	4	its	its	PRON
taxlaw-9799	396	5	former	former	ADJ
taxlaw-9799	396	6	policy	policy	NOUN
taxlaw-9799	396	7	of	of	ADP
taxlaw-9799	396	8	ruling	rule	VERB
taxlaw-9799	396	9	on	on	ADP
taxlaw-9799	396	10	an	an	DET
taxlaw-9799	396	11	entire	entire	ADJ
taxlaw-9799	396	12	spin	spin	NOUN
taxlaw-9799	396	13	-	-	PUNCT
taxlaw-9799	396	14	off	off	ADP
taxlaw-9799	396	15	transaction	transaction	NOUN
taxlaw-9799	396	16	to	to	ADP
taxlaw-9799	396	17	a	a	DET
taxlaw-9799	396	18	new	new	ADJ
taxlaw-9799	396	19	policy	policy	NOUN
taxlaw-9799	396	20	of	of	ADP
taxlaw-9799	396	21	ruling	rule	VERB
taxlaw-9799	396	22	on	on	ADP
taxlaw-9799	396	23	only	only	ADV
taxlaw-9799	396	24	one	one	NUM
taxlaw-9799	396	25	or	or	CCONJ
taxlaw-9799	396	26	more	more	ADV
taxlaw-9799	396	27	significant	significant	ADJ
taxlaw-9799	396	28	issues	issue	NOUN
taxlaw-9799	396	29	presented	present	VERB
taxlaw-9799	396	30	by	by	ADP
taxlaw-9799	396	31	the	the	DET
taxlaw-9799	396	32	transaction.92	transaction.92	NOUN
taxlaw-9799	396	33	in	in	ADP
taxlaw-9799	396	34	2017	2017	NUM
taxlaw-9799	396	35	,	,	PUNCT
taxlaw-9799	396	36	however	however	ADV
taxlaw-9799	396	37	,	,	PUNCT
taxlaw-9799	396	38	the	the	DET
taxlaw-9799	396	39	i.r.s	i.r.	NOUN
taxlaw-9799	396	40	.	.	PUNCT
taxlaw-9799	397	1	reversed	reverse	VERB
taxlaw-9799	397	2	course	course	NOUN
taxlaw-9799	397	3	,	,	PUNCT
taxlaw-9799	397	4	once	once	ADV
taxlaw-9799	397	5	again	again	ADV
taxlaw-9799	397	6	allowing	allow	VERB
taxlaw-9799	397	7	taxpayers	taxpayer	NOUN
taxlaw-9799	397	8	to	to	PART
taxlaw-9799	397	9	obtain	obtain	VERB
taxlaw-9799	397	10	a	a	DET
taxlaw-9799	397	11	private	private	ADJ
taxlaw-9799	397	12	letter	letter	NOUN
taxlaw-9799	397	13	ruling	rule	VERB
taxlaw-9799	397	14	on	on	ADP
taxlaw-9799	397	15	the	the	DET
taxlaw-9799	397	16	entire	entire	ADJ
taxlaw-9799	397	17	spin	spin	NOUN
taxlaw-9799	397	18	-	-	PUNCT
taxlaw-9799	397	19	off	off	ADP
taxlaw-9799	397	20	transaction	transaction	NOUN
taxlaw-9799	397	21	rather	rather	ADV
taxlaw-9799	397	22	than	than	ADP
taxlaw-9799	397	23	on	on	ADP
taxlaw-9799	397	24	only	only	ADV
taxlaw-9799	397	25	one	one	NUM
taxlaw-9799	397	26	or	or	CCONJ
taxlaw-9799	397	27	more	more	ADV
taxlaw-9799	397	28	significant	significant	ADJ
taxlaw-9799	397	29	issues.93	issues.93	NOUN
taxlaw-9799	397	30	although	although	SCONJ
taxlaw-9799	397	31	one	one	PRON
taxlaw-9799	397	32	might	might	AUX
taxlaw-9799	397	33	expect	expect	VERB
taxlaw-9799	397	34	the	the	DET
taxlaw-9799	397	35	2013	2013	NUM
taxlaw-9799	397	36	policy	policy	NOUN
taxlaw-9799	397	37	change	change	NOUN
taxlaw-9799	397	38	to	to	PART
taxlaw-9799	397	39	have	have	AUX
taxlaw-9799	397	40	chilled	chill	VERB
taxlaw-9799	397	41	the	the	DET
taxlaw-9799	397	42	frequency	frequency	NOUN
taxlaw-9799	397	43	of	of	ADP
taxlaw-9799	397	44	spin	spin	NOUN
taxlaw-9799	397	45	-	-	PUNCT
taxlaw-9799	397	46	off	off	ADP
taxlaw-9799	397	47	transactions	transaction	NOUN
taxlaw-9799	397	48	,	,	PUNCT
taxlaw-9799	397	49	it	it	PRON
taxlaw-9799	397	50	seems	seem	VERB
taxlaw-9799	397	51	that	that	SCONJ
taxlaw-9799	397	52	companies	company	NOUN
taxlaw-9799	397	53	that	that	PRON
taxlaw-9799	397	54	were	be	AUX
taxlaw-9799	397	55	already	already	ADV
taxlaw-9799	397	56	considering	consider	VERB
taxlaw-9799	397	57	spin	spin	NOUN
taxlaw-9799	397	58	-	-	PUNCT
taxlaw-9799	397	59	offs	off	NOUN
taxlaw-9799	397	60	instead	instead	ADV
taxlaw-9799	397	61	rushed	rush	VERB
taxlaw-9799	397	62	to	to	PART
taxlaw-9799	397	63	submit	submit	VERB
taxlaw-9799	397	64	private	private	ADJ
taxlaw-9799	397	65	letter	letter	NOUN
taxlaw-9799	397	66	ruling	ruling	NOUN
taxlaw-9799	397	67	requests	request	NOUN
taxlaw-9799	397	68	before	before	SCONJ
taxlaw-9799	397	69	the	the	DET
taxlaw-9799	397	70	change	change	NOUN
taxlaw-9799	397	71	went	go	VERB
taxlaw-9799	397	72	into	into	ADP
taxlaw-9799	397	73	effect.94	effect.94	PROPN
taxlaw-9799	397	74	moreover	moreover	ADV
taxlaw-9799	397	75	,	,	PUNCT
taxlaw-9799	397	76	many	many	ADJ
taxlaw-9799	397	77	companies	company	NOUN
taxlaw-9799	397	78	continued	continue	VERB
taxlaw-9799	397	79	to	to	PART
taxlaw-9799	397	80	undertake	undertake	VERB
taxlaw-9799	397	81	“	"	PUNCT
taxlaw-9799	397	82	plain	plain	ADJ
taxlaw-9799	397	83	vanilla	vanilla	NOUN
taxlaw-9799	397	84	”	"	PUNCT
taxlaw-9799	397	85	spin	spin	NOUN
taxlaw-9799	397	86	-	-	PUNCT
taxlaw-9799	397	87	offs	off	NOUN
taxlaw-9799	397	88	that	that	PRON
taxlaw-9799	397	89	did	do	AUX
taxlaw-9799	397	90	not	not	PART
taxlaw-9799	397	91	present	present	VERB
taxlaw-9799	397	92	high	high	ADJ
taxlaw-9799	397	93	levels	level	NOUN
taxlaw-9799	397	94	of	of	ADP
taxlaw-9799	397	95	uncertainty	uncertainty	NOUN
taxlaw-9799	397	96	and	and	CCONJ
taxlaw-9799	397	97	that	that	PRON
taxlaw-9799	397	98	were	be	AUX
taxlaw-9799	397	99	based	base	VERB
taxlaw-9799	397	100	solely	solely	ADV
taxlaw-9799	397	101	on	on	ADP
taxlaw-9799	397	102	the	the	DET
taxlaw-9799	397	103	opinions	opinion	NOUN
taxlaw-9799	397	104	of	of	ADP
taxlaw-9799	397	105	their	their	PRON
taxlaw-9799	397	106	tax	tax	NOUN
taxlaw-9799	397	107	advisers	adviser	NOUN
taxlaw-9799	397	108	—	—	PUNCT
taxlaw-9799	397	109	a	a	DET
taxlaw-9799	397	110	practice	practice	NOUN
taxlaw-9799	397	111	that	that	PRON
taxlaw-9799	397	112	only	only	ADV
taxlaw-9799	397	113	expanded	expand	VERB
taxlaw-9799	397	114	after	after	ADP
taxlaw-9799	397	115	the	the	DET
taxlaw-9799	397	116	2013	2013	NUM
taxlaw-9799	397	117	policy	policy	NOUN
taxlaw-9799	397	118	change.95	change.95	NOUN
taxlaw-9799	397	119	when	when	SCONJ
taxlaw-9799	397	120	the	the	DET
taxlaw-9799	397	121	i.r.s	i.r.	NOUN
taxlaw-9799	397	122	.	.	PUNCT
taxlaw-9799	397	123	reverted	revert	VERB
taxlaw-9799	397	124	to	to	ADP
taxlaw-9799	397	125	its	its	PRON
taxlaw-9799	397	126	previous	previous	ADJ
taxlaw-9799	397	127	practice	practice	NOUN
taxlaw-9799	397	128	in	in	ADP
taxlaw-9799	397	129	2017	2017	NUM
taxlaw-9799	397	130	,	,	PUNCT
taxlaw-9799	397	131	many	many	ADJ
taxlaw-9799	397	132	tax	tax	NOUN
taxlaw-9799	397	133	lawyers	lawyer	NOUN
taxlaw-9799	397	134	had	have	AUX
taxlaw-9799	397	135	already	already	ADV
taxlaw-9799	397	136	grown	grow	VERB
taxlaw-9799	397	137	comfortable	comfortable	ADJ
taxlaw-9799	397	138	advising	advise	VERB
taxlaw-9799	397	139	on	on	ADP
taxlaw-9799	397	140	spin	spin	NOUN
taxlaw-9799	397	141	-	-	PUNCT
taxlaw-9799	397	142	offs	off	NOUN
taxlaw-9799	397	143	without	without	ADP
taxlaw-9799	397	144	the	the	DET
taxlaw-9799	397	145	i.r.s	i.r.	NOUN
taxlaw-9799	397	146	.	.	PROPN
taxlaw-9799	397	147	’s	’s	PART
taxlaw-9799	397	148	blessing	blessing	NOUN
taxlaw-9799	397	149	,	,	PUNCT
taxlaw-9799	397	150	and	and	CCONJ
taxlaw-9799	397	151	taxpayers	taxpayer	NOUN
taxlaw-9799	397	152	became	become	VERB
taxlaw-9799	397	153	accustomed	accustomed	ADJ
taxlaw-9799	397	154	to	to	ADP
taxlaw-9799	397	155	relying	rely	VERB
taxlaw-9799	397	156	solely	solely	ADV
taxlaw-9799	397	157	on	on	ADP
taxlaw-9799	397	158	the	the	DET
taxlaw-9799	397	159	advice	advice	NOUN
taxlaw-9799	397	160	of	of	ADP
taxlaw-9799	397	161	law	law	NOUN
taxlaw-9799	397	162	firm	firm	NOUN
taxlaw-9799	397	163	and	and	CCONJ
taxlaw-9799	397	164	accounting	accounting	NOUN
taxlaw-9799	397	165	firm	firm	ADJ
taxlaw-9799	397	166	opinions	opinion	NOUN
taxlaw-9799	397	167	.	.	PUNCT
taxlaw-9799	398	1	as	as	SCONJ
taxlaw-9799	398	2	it	it	PRON
taxlaw-9799	398	3	turned	turn	VERB
taxlaw-9799	398	4	out	out	ADP
taxlaw-9799	398	5	,	,	PUNCT
taxlaw-9799	398	6	costly	costly	ADJ
taxlaw-9799	398	7	,	,	PUNCT
taxlaw-9799	398	8	time	time	NOUN
taxlaw-9799	398	9	-	-	PUNCT
taxlaw-9799	398	10	consuming	consume	VERB
taxlaw-9799	398	11	comfort	comfort	NOUN
taxlaw-9799	398	12	rulings	ruling	NOUN
taxlaw-9799	398	13	were	be	AUX
taxlaw-9799	398	14	not	not	PART
taxlaw-9799	398	15	as	as	ADV
taxlaw-9799	398	16	vital	vital	ADJ
taxlaw-9799	398	17	as	as	SCONJ
taxlaw-9799	398	18	taxpayers	taxpayer	NOUN
taxlaw-9799	398	19	may	may	AUX
taxlaw-9799	398	20	have	have	AUX
taxlaw-9799	398	21	previously	previously	ADV
taxlaw-9799	398	22	believed.96	believed.96	VERB
taxlaw-9799	398	23	an	an	DET
taxlaw-9799	398	24	additional	additional	ADJ
taxlaw-9799	398	25	benefit	benefit	NOUN
taxlaw-9799	398	26	of	of	ADP
taxlaw-9799	398	27	phasing	phase	VERB
taxlaw-9799	398	28	out	out	ADP
taxlaw-9799	398	29	private	private	ADJ
taxlaw-9799	398	30	letter	letter	NOUN
taxlaw-9799	398	31	rulings	ruling	NOUN
taxlaw-9799	398	32	was	be	AUX
taxlaw-9799	398	33	that	that	SCONJ
taxlaw-9799	398	34	companies	company	NOUN
taxlaw-9799	398	35	could	could	AUX
taxlaw-9799	398	36	avoid	avoid	VERB
taxlaw-9799	398	37	describing	describe	VERB
taxlaw-9799	398	38	all	all	DET
taxlaw-9799	398	39	related	relate	VERB
taxlaw-9799	398	40	transactions	transaction	NOUN
taxlaw-9799	398	41	that	that	PRON
taxlaw-9799	398	42	pertained	pertain	VERB
taxlaw-9799	398	43	to	to	ADP
taxlaw-9799	398	44	the	the	DET
taxlaw-9799	398	45	spinoff.97	spinoff.97	NOUN
taxlaw-9799	398	46	therefore	therefore	ADV
taxlaw-9799	398	47	,	,	PUNCT
taxlaw-9799	398	48	conglomerates	conglomerate	NOUN
taxlaw-9799	398	49	’	'	PUNCT
taxlaw-9799	398	50	decreased	decrease	VERB
taxlaw-9799	398	51	reliance	reliance	NOUN
taxlaw-9799	398	52	on	on	ADP
taxlaw-9799	398	53	private	private	ADJ
taxlaw-9799	398	54	letter	letter	NOUN
taxlaw-9799	398	55	rulings	ruling	NOUN
taxlaw-9799	398	56	and	and	CCONJ
taxlaw-9799	398	57	increased	increase	VERB
taxlaw-9799	398	58	reliance	reliance	NOUN
taxlaw-9799	398	59	on	on	ADP
taxlaw-9799	398	60	opinion	opinion	NOUN
taxlaw-9799	398	61	letters	letter	NOUN
taxlaw-9799	398	62	by	by	ADP
taxlaw-9799	398	63	tax	tax	NOUN
taxlaw-9799	398	64	counsel	counsel	NOUN
taxlaw-9799	398	65	has	have	AUX
taxlaw-9799	398	66	likely	likely	ADV
taxlaw-9799	398	67	made	make	VERB
taxlaw-9799	398	68	spin	spin	NOUN
taxlaw-9799	398	69	-	-	PUNCT
taxlaw-9799	398	70	offs	off	NOUN
taxlaw-9799	398	71	less	less	ADV
taxlaw-9799	398	72	burdensome	burdensome	ADJ
taxlaw-9799	398	73	and	and	CCONJ
taxlaw-9799	398	74	more	more	ADV
taxlaw-9799	398	75	feasible	feasible	ADJ
taxlaw-9799	398	76	in	in	ADP
taxlaw-9799	398	77	recent	recent	ADJ
taxlaw-9799	398	78	years	year	NOUN
taxlaw-9799	398	79	.	.	PUNCT
taxlaw-9799	399	1	iii	iii	X
taxlaw-9799	399	2	.	.	PUNCT
taxlaw-9799	399	3	liberty	liberty	PROPN
taxlaw-9799	399	4	’s	’s	PART
taxlaw-9799	399	5	spin	spin	NOUN
taxlaw-9799	399	6	-	-	PUNCT
taxlaw-9799	399	7	off	off	NOUN
taxlaw-9799	399	8	of	of	ADP
taxlaw-9799	399	9	tripadvisor	tripadvisor	NOUN
taxlaw-9799	399	10	in	in	ADP
taxlaw-9799	399	11	august	august	PROPN
taxlaw-9799	399	12	2014	2014	NUM
taxlaw-9799	399	13	,	,	PUNCT
taxlaw-9799	399	14	liberty	liberty	NOUN
taxlaw-9799	399	15	interactive	interactive	ADJ
taxlaw-9799	399	16	corporation	corporation	NOUN
taxlaw-9799	399	17	(	(	PUNCT
taxlaw-9799	399	18	“	"	PUNCT
taxlaw-9799	399	19	liberty	liberty	NOUN
taxlaw-9799	399	20	”	"	PUNCT
taxlaw-9799	399	21	)	)	PUNCT
taxlaw-9799	399	22	,	,	PUNCT
taxlaw-9799	399	23	an	an	DET
taxlaw-9799	399	24	american	american	ADJ
taxlaw-9799	399	25	media	medium	NOUN
taxlaw-9799	399	26	conglomerate	conglomerate	NOUN
taxlaw-9799	399	27	that	that	PRON
taxlaw-9799	399	28	operated	operate	VERB
taxlaw-9799	399	29	a	a	DET
taxlaw-9799	399	30	broad	broad	ADJ
taxlaw-9799	399	31	range	range	NOUN
taxlaw-9799	399	32	of	of	ADP
taxlaw-9799	399	33	digital	digital	ADJ
taxlaw-9799	399	34	commerce	commerce	NOUN
taxlaw-9799	399	35	businesses	business	NOUN
taxlaw-9799	399	36	including	include	VERB
taxlaw-9799	399	37	qvc	qvc	PROPN
taxlaw-9799	399	38	and	and	CCONJ
taxlaw-9799	399	39	expedia	expedia	PROPN
taxlaw-9799	399	40	,	,	PUNCT
taxlaw-9799	399	41	announced	announce	VERB
taxlaw-9799	399	42	its	its	PRON
taxlaw-9799	399	43	completion	completion	NOUN
taxlaw-9799	399	44	of	of	ADP
taxlaw-9799	399	45	a	a	DET
taxlaw-9799	399	46	tax	tax	NOUN
taxlaw-9799	399	47	-	-	PUNCT
taxlaw-9799	399	48	free	free	ADJ
taxlaw-9799	399	49	spin	spin	NOUN
taxlaw-9799	399	50	-	-	PUNCT
taxlaw-9799	399	51	off	off	NOUN
taxlaw-9799	399	52	of	of	ADP
taxlaw-9799	399	53	tripadvisor	tripadvisor	PROPN
taxlaw-9799	399	54	,	,	PUNCT
taxlaw-9799	399	55	inc	inc	PROPN
taxlaw-9799	399	56	.	.	PROPN
taxlaw-9799	400	1	(	(	PUNCT
taxlaw-9799	400	2	“	"	PUNCT
taxlaw-9799	400	3	tripadvisor”).98	tripadvisor”).98	NUM
taxlaw-9799	400	4	liberty	liberty	NOUN
taxlaw-9799	400	5	bundled	bundle	VERB
taxlaw-9799	400	6	its	its	PRON
taxlaw-9799	400	7	22	22	NUM
taxlaw-9799	400	8	%	%	NOUN
taxlaw-9799	400	9	stake	stake	NOUN
taxlaw-9799	400	10	in	in	ADP
taxlaw-9799	400	11	tripadvisor	tripadvisor	NOUN
taxlaw-9799	400	12	with	with	ADP
taxlaw-9799	400	13	an	an	DET
taxlaw-9799	400	14	online	online	ADJ
taxlaw-9799	400	15	retail	retail	ADJ
taxlaw-9799	400	16	subsidiary	subsidiary	NOUN
taxlaw-9799	400	17	called	call	VERB
taxlaw-9799	400	18	buyseasons	buyseason	NOUN
taxlaw-9799	400	19	,	,	PUNCT
taxlaw-9799	400	20	creating	create	VERB
taxlaw-9799	400	21	a	a	DET
taxlaw-9799	400	22	new	new	ADJ
taxlaw-9799	400	23	publicly	publicly	ADV
taxlaw-9799	400	24	traded	trade	VERB
taxlaw-9799	400	25	92	92	NUM
taxlaw-9799	400	26	rev	rev	NOUN
taxlaw-9799	400	27	.	.	PROPN
taxlaw-9799	400	28	proc	proc	PROPN
taxlaw-9799	400	29	.	.	PUNCT
taxlaw-9799	401	1	2013	2013	NUM
taxlaw-9799	401	2	-	-	SYM
taxlaw-9799	401	3	32	32	NUM
taxlaw-9799	401	4	,	,	PUNCT
taxlaw-9799	401	5	2013	2013	NUM
taxlaw-9799	401	6	-	-	SYM
taxlaw-9799	401	7	28	28	NUM
taxlaw-9799	401	8	i.r.b	i.r.b	NOUN
taxlaw-9799	401	9	.	.	PUNCT
taxlaw-9799	402	1	55	55	NUM
taxlaw-9799	402	2	;	;	PUNCT
taxlaw-9799	402	3	rev	rev	PROPN
taxlaw-9799	402	4	.	.	PROPN
taxlaw-9799	402	5	proc	proc	PROPN
taxlaw-9799	402	6	.	.	PUNCT
taxlaw-9799	403	1	2013	2013	NUM
taxlaw-9799	403	2	-	-	SYM
taxlaw-9799	403	3	28	28	NUM
taxlaw-9799	403	4	,	,	PUNCT
taxlaw-9799	403	5	2013	2013	NUM
taxlaw-9799	403	6	-	-	SYM
taxlaw-9799	403	7	27	27	NUM
taxlaw-9799	403	8	i.r.b	i.r.b	NOUN
taxlaw-9799	403	9	.	.	PUNCT
taxlaw-9799	404	1	28	28	NUM
taxlaw-9799	404	2	.	.	PUNCT
taxlaw-9799	405	1	see	see	VERB
taxlaw-9799	405	2	amy	amy	PROPN
taxlaw-9799	405	3	elliott	elliott	PROPN
taxlaw-9799	405	4	,	,	PUNCT
taxlaw-9799	405	5	irs	irs	PROPN
taxlaw-9799	405	6	expands	expand	VERB
taxlaw-9799	405	7	no	no	DET
taxlaw-9799	405	8	-	-	PUNCT
taxlaw-9799	405	9	rule	rule	NOUN
taxlaw-9799	405	10	policy	policy	NOUN
taxlaw-9799	405	11	to	to	PART
taxlaw-9799	405	12	spin	spin	VERB
taxlaw-9799	405	13	-	-	PUNCT
taxlaw-9799	405	14	offs	off	NOUN
taxlaw-9799	405	15	to	to	PART
taxlaw-9799	405	16	save	save	VERB
taxlaw-9799	405	17	money	money	NOUN
taxlaw-9799	405	18	,	,	PUNCT
taxlaw-9799	405	19	14	14	NUM
taxlaw-9799	405	20	tax	tax	NOUN
taxlaw-9799	405	21	notes	note	NOUN
taxlaw-9799	405	22	23	23	NUM
taxlaw-9799	405	23	,	,	PUNCT
taxlaw-9799	405	24	23	23	NUM
taxlaw-9799	405	25	-	-	SYM
taxlaw-9799	405	26	24	24	NUM
taxlaw-9799	405	27	(	(	PUNCT
taxlaw-9799	405	28	july	july	PROPN
taxlaw-9799	405	29	1	1	NUM
taxlaw-9799	405	30	,	,	PUNCT
taxlaw-9799	405	31	2013	2013	NUM
taxlaw-9799	405	32	)	)	PUNCT
taxlaw-9799	405	33	(	(	PUNCT
taxlaw-9799	405	34	summarizing	summarize	VERB
taxlaw-9799	405	35	i.r.s	i.r.s	PROPN
taxlaw-9799	405	36	.	.	PROPN
taxlaw-9799	405	37	’s	’s	PART
taxlaw-9799	405	38	new	new	ADJ
taxlaw-9799	405	39	policy	policy	NOUN
taxlaw-9799	405	40	)	)	PUNCT
taxlaw-9799	405	41	.	.	PUNCT
taxlaw-9799	406	1	93	93	NUM
taxlaw-9799	406	2	rev	rev	VERB
taxlaw-9799	406	3	.	.	PROPN
taxlaw-9799	406	4	proc	proc	PROPN
taxlaw-9799	406	5	.	.	PUNCT
taxlaw-9799	407	1	2017	2017	NUM
taxlaw-9799	407	2	-	-	SYM
taxlaw-9799	407	3	52	52	NUM
taxlaw-9799	407	4	,	,	PUNCT
taxlaw-9799	407	5	2017	2017	NUM
taxlaw-9799	407	6	-	-	SYM
taxlaw-9799	407	7	41	41	NUM
taxlaw-9799	407	8	i.r.b	i.r.b	NOUN
taxlaw-9799	407	9	.	.	PUNCT
taxlaw-9799	408	1	283	283	NUM
taxlaw-9799	408	2	.	.	X
taxlaw-9799	409	1	94	94	NUM
taxlaw-9799	409	2	see	see	VERB
taxlaw-9799	409	3	elliott	elliott	PROPN
taxlaw-9799	409	4	,	,	PUNCT
taxlaw-9799	409	5	supra	supra	PROPN
taxlaw-9799	409	6	note	note	VERB
taxlaw-9799	409	7	92	92	NUM
taxlaw-9799	409	8	(	(	PUNCT
taxlaw-9799	409	9	noting	note	VERB
taxlaw-9799	409	10	that	that	SCONJ
taxlaw-9799	409	11	when	when	SCONJ
taxlaw-9799	409	12	i.r.s	i.r.	NOUN
taxlaw-9799	409	13	.	.	PUNCT
taxlaw-9799	410	1	previously	previously	ADV
taxlaw-9799	410	2	cut	cut	VERB
taxlaw-9799	410	3	back	back	ADV
taxlaw-9799	410	4	on	on	ADP
taxlaw-9799	410	5	corporate	corporate	ADJ
taxlaw-9799	410	6	letter	letter	NOUN
taxlaw-9799	410	7	ruling	rule	VERB
taxlaw-9799	410	8	program	program	NOUN
taxlaw-9799	410	9	,	,	PUNCT
taxlaw-9799	410	10	taxpayers	taxpayer	NOUN
taxlaw-9799	410	11	rushed	rush	VERB
taxlaw-9799	410	12	to	to	PART
taxlaw-9799	410	13	submit	submit	VERB
taxlaw-9799	410	14	rulings	ruling	NOUN
taxlaw-9799	410	15	before	before	SCONJ
taxlaw-9799	410	16	no	no	DET
taxlaw-9799	410	17	-	-	PUNCT
taxlaw-9799	410	18	rule	rule	NOUN
taxlaw-9799	410	19	policy	policy	NOUN
taxlaw-9799	410	20	went	go	VERB
taxlaw-9799	410	21	into	into	ADP
taxlaw-9799	410	22	effect	effect	NOUN
taxlaw-9799	410	23	)	)	PUNCT
taxlaw-9799	410	24	.	.	PUNCT
taxlaw-9799	411	1	95	95	NUM
taxlaw-9799	411	2	jasper	jasper	NOUN
taxlaw-9799	411	3	a.	a.	NOUN
taxlaw-9799	411	4	howard	howard	PROPN
taxlaw-9799	411	5	,	,	PUNCT
taxlaw-9799	411	6	considerations	consideration	NOUN
taxlaw-9799	411	7	in	in	ADP
taxlaw-9799	411	8	seeking	seek	VERB
taxlaw-9799	411	9	private	private	ADJ
taxlaw-9799	411	10	letter	letter	NOUN
taxlaw-9799	411	11	rulings	ruling	NOUN
taxlaw-9799	411	12	for	for	ADP
taxlaw-9799	411	13	spin	spin	NOUN
taxlaw-9799	411	14	-	-	PUNCT
taxlaw-9799	411	15	offs	off	NOUN
taxlaw-9799	411	16	,	,	PUNCT
taxlaw-9799	411	17	tax	tax	NOUN
taxlaw-9799	411	18	notes	note	NOUN
taxlaw-9799	411	19	1365	1365	NUM
taxlaw-9799	411	20	,	,	PUNCT
taxlaw-9799	411	21	1366	1366	NUM
taxlaw-9799	411	22	(	(	PUNCT
taxlaw-9799	411	23	may	may	PROPN
taxlaw-9799	411	24	27	27	NUM
taxlaw-9799	411	25	,	,	PUNCT
taxlaw-9799	411	26	2019	2019	NUM
taxlaw-9799	411	27	)	)	PUNCT
taxlaw-9799	411	28	.	.	PUNCT
taxlaw-9799	412	1	96	96	NUM
taxlaw-9799	412	2	see	see	VERB
taxlaw-9799	412	3	i	i	PROPN
taxlaw-9799	412	4	d.	d.	PROPN
taxlaw-9799	412	5	(	(	PUNCT
taxlaw-9799	412	6	predicting	predict	VERB
taxlaw-9799	412	7	taxpayers	taxpayer	NOUN
taxlaw-9799	412	8	will	will	AUX
taxlaw-9799	412	9	continue	continue	VERB
taxlaw-9799	412	10	solely	solely	ADV
taxlaw-9799	412	11	to	to	PART
taxlaw-9799	412	12	use	use	VERB
taxlaw-9799	412	13	tax	tax	NOUN
taxlaw-9799	412	14	opinions	opinion	NOUN
taxlaw-9799	412	15	due	due	ADP
taxlaw-9799	412	16	to	to	ADP
taxlaw-9799	412	17	ease	ease	NOUN
taxlaw-9799	412	18	of	of	ADP
taxlaw-9799	412	19	execution	execution	NOUN
taxlaw-9799	412	20	)	)	PUNCT
taxlaw-9799	412	21	.	.	PUNCT
taxlaw-9799	413	1	97	97	NUM
taxlaw-9799	414	1	i	i	PRON
taxlaw-9799	414	2	d.	d.	PROPN
taxlaw-9799	414	3	98	98	NUM
taxlaw-9799	414	4	press	press	NOUN
taxlaw-9799	414	5	release	release	NOUN
taxlaw-9799	414	6	,	,	PUNCT
taxlaw-9799	414	7	liberty	liberty	NOUN
taxlaw-9799	414	8	interactive	interactive	ADJ
taxlaw-9799	414	9	corporation	corporation	NOUN
taxlaw-9799	414	10	,	,	PUNCT
taxlaw-9799	414	11	liberty	liberty	PROPN
taxlaw-9799	414	12	interactive	interactive	ADJ
taxlaw-9799	414	13	corporation	corporation	NOUN
taxlaw-9799	414	14	announces	announce	VERB
taxlaw-9799	414	15	completion	completion	NOUN
taxlaw-9799	414	16	of	of	ADP
taxlaw-9799	414	17	liberty	liberty	NOUN
taxlaw-9799	414	18	tripadvisor	tripadvisor	PROPN
taxlaw-9799	414	19	holdings	holding	NOUN
taxlaw-9799	414	20	spin	spin	NOUN
taxlaw-9799	414	21	-	-	PUNCT
taxlaw-9799	414	22	off	off	NOUN
taxlaw-9799	414	23	(	(	PUNCT
taxlaw-9799	414	24	aug	aug	PROPN
taxlaw-9799	414	25	.	.	PROPN
taxlaw-9799	414	26	27	27	NUM
taxlaw-9799	414	27	,	,	PUNCT
taxlaw-9799	414	28	2014	2014	NUM
taxlaw-9799	414	29	)	)	PUNCT
taxlaw-9799	414	30	,	,	PUNCT
taxlaw-9799	414	31	https://www.sec.gov/archives/edgar/data/	https://www.sec.gov/archives/edgar/data/	PROPN
taxlaw-9799	414	32	1355096/000155837014000156	1355096/000155837014000156	NUM
taxlaw-9799	414	33	/	/	SYM
taxlaw-9799	414	34	lint-20140827ex991479fde.htm	lint-20140827ex991479fde.htm	PROPN
taxlaw-9799	414	35	[	[	X
taxlaw-9799	414	36	https://perma.cc/8wfz-yeqs	https://perma.cc/8wfz-yeqs	X
taxlaw-9799	414	37	]	]	NOUN
taxlaw-9799	414	38	.	.	PUNCT
taxlaw-9799	415	1	2022	2022	NUM
taxlaw-9799	415	2	]	]	PUNCT
taxlaw-9799	415	3	conglomerate	conglomerate	NOUN
taxlaw-9799	415	4	spin	spin	NOUN
taxlaw-9799	415	5	-	-	PUNCT
taxlaw-9799	415	6	offs	off	NOUN
taxlaw-9799	415	7	184	184	NUM
taxlaw-9799	415	8	company	company	NOUN
taxlaw-9799	415	9	called	call	VERB
taxlaw-9799	415	10	liberty	liberty	PROPN
taxlaw-9799	415	11	tripadvisor	tripadvisor	PROPN
taxlaw-9799	415	12	holdings.99	holdings.99	VERB
taxlaw-9799	415	13	the	the	DET
taxlaw-9799	415	14	media	medium	NOUN
taxlaw-9799	415	15	conglomerate	conglomerate	NOUN
taxlaw-9799	415	16	needed	need	VERB
taxlaw-9799	415	17	to	to	PART
taxlaw-9799	415	18	package	package	VERB
taxlaw-9799	415	19	the	the	DET
taxlaw-9799	415	20	large	large	ADJ
taxlaw-9799	415	21	stake	stake	NOUN
taxlaw-9799	415	22	in	in	ADP
taxlaw-9799	415	23	tripadvisor	tripadvisor	NOUN
taxlaw-9799	415	24	with	with	ADP
taxlaw-9799	415	25	buyseasons	buyseason	NOUN
taxlaw-9799	415	26	to	to	PART
taxlaw-9799	415	27	satisfy	satisfy	VERB
taxlaw-9799	415	28	the	the	DET
taxlaw-9799	415	29	80	80	NUM
taxlaw-9799	415	30	%	%	NOUN
taxlaw-9799	415	31	control	control	NOUN
taxlaw-9799	415	32	requirement	requirement	NOUN
taxlaw-9799	415	33	in	in	ADP
taxlaw-9799	415	34	section	section	NOUN
taxlaw-9799	415	35	355	355	NUM
taxlaw-9799	415	36	.	.	PUNCT
taxlaw-9799	416	1	liberty	liberty	NOUN
taxlaw-9799	416	2	could	could	AUX
taxlaw-9799	416	3	have	have	AUX
taxlaw-9799	416	4	taken	take	VERB
taxlaw-9799	416	5	the	the	DET
taxlaw-9799	416	6	22	22	NUM
taxlaw-9799	416	7	%	%	NOUN
taxlaw-9799	416	8	stake	stake	NOUN
taxlaw-9799	416	9	in	in	ADP
taxlaw-9799	416	10	tripadvisor	tripadvisor	NOUN
taxlaw-9799	416	11	and	and	CCONJ
taxlaw-9799	416	12	formed	form	VERB
taxlaw-9799	416	13	a	a	DET
taxlaw-9799	416	14	new	new	ADJ
taxlaw-9799	416	15	company	company	NOUN
taxlaw-9799	416	16	to	to	PART
taxlaw-9799	416	17	meet	meet	VERB
taxlaw-9799	416	18	the	the	DET
taxlaw-9799	416	19	control	control	NOUN
taxlaw-9799	416	20	requirement	requirement	NOUN
taxlaw-9799	416	21	,	,	PUNCT
taxlaw-9799	416	22	but	but	CCONJ
taxlaw-9799	416	23	this	this	DET
taxlaw-9799	416	24	transaction	transaction	NOUN
taxlaw-9799	416	25	would	would	AUX
taxlaw-9799	416	26	not	not	PART
taxlaw-9799	416	27	have	have	AUX
taxlaw-9799	416	28	met	meet	VERB
taxlaw-9799	416	29	the	the	DET
taxlaw-9799	416	30	active	active	ADJ
taxlaw-9799	416	31	trade	trade	NOUN
taxlaw-9799	416	32	or	or	CCONJ
taxlaw-9799	416	33	business	business	NOUN
taxlaw-9799	416	34	requirement	requirement	NOUN
taxlaw-9799	416	35	.	.	PUNCT
taxlaw-9799	417	1	thus	thus	ADV
taxlaw-9799	417	2	,	,	PUNCT
taxlaw-9799	417	3	liberty	liberty	NOUN
taxlaw-9799	417	4	created	create	VERB
taxlaw-9799	417	5	the	the	DET
taxlaw-9799	417	6	newco	newco	PROPN
taxlaw-9799	417	7	liberty	liberty	PROPN
taxlaw-9799	417	8	tripadvisor	tripadvisor	PROPN
taxlaw-9799	417	9	holdings	holding	NOUN
taxlaw-9799	417	10	and	and	CCONJ
taxlaw-9799	417	11	distributed	distribute	VERB
taxlaw-9799	417	12	into	into	ADP
taxlaw-9799	417	13	it	it	PRON
taxlaw-9799	417	14	the	the	DET
taxlaw-9799	417	15	online	online	ADJ
taxlaw-9799	417	16	retail	retail	ADJ
taxlaw-9799	417	17	subsidiary	subsidiary	NOUN
taxlaw-9799	417	18	and	and	CCONJ
taxlaw-9799	417	19	a	a	DET
taxlaw-9799	417	20	22	22	NUM
taxlaw-9799	417	21	%	%	NOUN
taxlaw-9799	417	22	stake	stake	NOUN
taxlaw-9799	417	23	in	in	ADP
taxlaw-9799	417	24	tripadvisor	tripadvisor	NOUN
taxlaw-9799	417	25	.	.	PUNCT
taxlaw-9799	418	1	the	the	DET
taxlaw-9799	418	2	transaction	transaction	NOUN
taxlaw-9799	418	3	qualified	qualified	ADJ
taxlaw-9799	418	4	as	as	ADP
taxlaw-9799	418	5	a	a	DET
taxlaw-9799	418	6	tax	tax	NOUN
taxlaw-9799	418	7	-	-	PUNCT
taxlaw-9799	418	8	free	free	ADJ
taxlaw-9799	418	9	reorganization	reorganization	NOUN
taxlaw-9799	418	10	under	under	ADP
taxlaw-9799	418	11	sections	section	NOUN
taxlaw-9799	418	12	355	355	NUM
taxlaw-9799	418	13	and	and	CCONJ
taxlaw-9799	418	14	368(a)(1)(d	368(a)(1)(d	NUM
taxlaw-9799	418	15	)	)	PUNCT
taxlaw-9799	418	16	.	.	PUNCT
taxlaw-9799	419	1	liberty	liberty	PROPN
taxlaw-9799	419	2	’s	’s	PART
taxlaw-9799	419	3	board	board	NOUN
taxlaw-9799	419	4	of	of	ADP
taxlaw-9799	419	5	directors	director	NOUN
taxlaw-9799	419	6	was	be	AUX
taxlaw-9799	419	7	specifically	specifically	ADV
taxlaw-9799	419	8	forbidden	forbid	VERB
taxlaw-9799	419	9	from	from	ADP
taxlaw-9799	419	10	waiving	waive	VERB
taxlaw-9799	419	11	a	a	DET
taxlaw-9799	419	12	condition	condition	NOUN
taxlaw-9799	419	13	precedent	precedent	NOUN
taxlaw-9799	419	14	that	that	SCONJ
taxlaw-9799	419	15	the	the	DET
taxlaw-9799	419	16	conglomerate	conglomerate	NOUN
taxlaw-9799	419	17	receive	receive	VERB
taxlaw-9799	419	18	a	a	DET
taxlaw-9799	419	19	will	will	NOUN
taxlaw-9799	419	20	-	-	PUNCT
taxlaw-9799	419	21	level	level	NOUN
taxlaw-9799	419	22	opinion	opinion	NOUN
taxlaw-9799	419	23	from	from	ADP
taxlaw-9799	419	24	its	its	PRON
taxlaw-9799	419	25	tax	tax	NOUN
taxlaw-9799	419	26	counsel	counsel	NOUN
taxlaw-9799	419	27	,	,	PUNCT
taxlaw-9799	419	28	and	and	CCONJ
taxlaw-9799	419	29	liberty	liberty	NOUN
taxlaw-9799	419	30	’s	’s	PART
taxlaw-9799	419	31	law	law	NOUN
taxlaw-9799	419	32	firm	firm	NOUN
taxlaw-9799	419	33	,	,	PUNCT
taxlaw-9799	419	34	baker	baker	PROPN
taxlaw-9799	419	35	botts	botts	PROPN
taxlaw-9799	419	36	llp	llp	PROPN
taxlaw-9799	419	37	,	,	PUNCT
taxlaw-9799	419	38	provided	provide	VERB
taxlaw-9799	419	39	the	the	DET
taxlaw-9799	419	40	will	will	NOUN
taxlaw-9799	419	41	-	-	PUNCT
taxlaw-9799	419	42	level	level	NOUN
taxlaw-9799	419	43	opinion	opinion	NOUN
taxlaw-9799	419	44	,	,	PUNCT
taxlaw-9799	419	45	deeming	deem	VERB
taxlaw-9799	419	46	the	the	DET
taxlaw-9799	419	47	transaction	transaction	NOUN
taxlaw-9799	419	48	proper.100	proper.100	NOUN
taxlaw-9799	419	49	although	although	SCONJ
taxlaw-9799	419	50	the	the	DET
taxlaw-9799	419	51	spin	spin	VERB
taxlaw-9799	419	52	-	-	PUNCT
taxlaw-9799	419	53	off	off	ADP
taxlaw-9799	419	54	transaction	transaction	NOUN
taxlaw-9799	419	55	contained	contain	VERB
taxlaw-9799	419	56	some	some	DET
taxlaw-9799	419	57	potentially	potentially	ADV
taxlaw-9799	419	58	abusive	abusive	ADJ
taxlaw-9799	419	59	ingredients	ingredient	NOUN
taxlaw-9799	419	60	on	on	ADP
taxlaw-9799	419	61	which	which	PRON
taxlaw-9799	419	62	the	the	DET
taxlaw-9799	419	63	i.r.s	i.r.	NOUN
taxlaw-9799	419	64	.	.	PUNCT
taxlaw-9799	419	65	refused	refuse	VERB
taxlaw-9799	419	66	to	to	PART
taxlaw-9799	419	67	rule	rule	VERB
taxlaw-9799	419	68	,	,	PUNCT
taxlaw-9799	419	69	the	the	DET
taxlaw-9799	419	70	government	government	NOUN
taxlaw-9799	419	71	ultimately	ultimately	ADV
taxlaw-9799	419	72	blessed	bless	VERB
taxlaw-9799	419	73	the	the	DET
taxlaw-9799	419	74	transaction	transaction	NOUN
taxlaw-9799	419	75	in	in	ADP
taxlaw-9799	419	76	a	a	DET
taxlaw-9799	419	77	private	private	ADJ
taxlaw-9799	419	78	letter	letter	NOUN
taxlaw-9799	419	79	ruling	rule	VERB
taxlaw-9799	419	80	in	in	ADP
taxlaw-9799	419	81	2014.101	2014.101	NUM
taxlaw-9799	419	82	to	to	PART
taxlaw-9799	419	83	satisfy	satisfy	VERB
taxlaw-9799	419	84	the	the	DET
taxlaw-9799	419	85	nonstatutory	nonstatutory	ADJ
taxlaw-9799	419	86	corporate	corporate	ADJ
taxlaw-9799	419	87	business	business	NOUN
taxlaw-9799	419	88	purpose	purpose	NOUN
taxlaw-9799	419	89	requirement	requirement	NOUN
taxlaw-9799	419	90	,	,	PUNCT
taxlaw-9799	419	91	liberty	liberty	PROPN
taxlaw-9799	419	92	offered	offer	VERB
taxlaw-9799	419	93	a	a	DET
taxlaw-9799	419	94	description	description	NOUN
taxlaw-9799	419	95	of	of	ADP
taxlaw-9799	419	96	the	the	DET
taxlaw-9799	419	97	transaction	transaction	NOUN
taxlaw-9799	419	98	’s	’s	PART
taxlaw-9799	419	99	benefits	benefit	NOUN
taxlaw-9799	419	100	in	in	ADP
taxlaw-9799	419	101	its	its	PRON
taxlaw-9799	419	102	request	request	NOUN
taxlaw-9799	419	103	for	for	ADP
taxlaw-9799	419	104	a	a	DET
taxlaw-9799	419	105	private	private	ADJ
taxlaw-9799	419	106	letter	letter	NOUN
taxlaw-9799	419	107	ruling.102	ruling.102	NOUN
taxlaw-9799	419	108	the	the	DET
taxlaw-9799	419	109	media	medium	NOUN
taxlaw-9799	419	110	conglomerate	conglomerate	NOUN
taxlaw-9799	419	111	explained	explain	VERB
taxlaw-9799	419	112	that	that	SCONJ
taxlaw-9799	419	113	liberty	liberty	NOUN
taxlaw-9799	419	114	and	and	CCONJ
taxlaw-9799	419	115	tripadvisor	tripadvisor	PROPN
taxlaw-9799	419	116	would	would	AUX
taxlaw-9799	419	117	achieve	achieve	VERB
taxlaw-9799	419	118	higher	high	ADJ
taxlaw-9799	419	119	stock	stock	NOUN
taxlaw-9799	419	120	prices	price	NOUN
taxlaw-9799	419	121	as	as	ADP
taxlaw-9799	419	122	a	a	DET
taxlaw-9799	419	123	result	result	NOUN
taxlaw-9799	419	124	of	of	ADP
taxlaw-9799	419	125	the	the	DET
taxlaw-9799	419	126	spin	spin	NOUN
taxlaw-9799	419	127	-	-	PUNCT
taxlaw-9799	419	128	off	off	NOUN
taxlaw-9799	419	129	,	,	PUNCT
taxlaw-9799	419	130	rendering	render	VERB
taxlaw-9799	419	131	tripadvisor	tripadvisor	NOUN
taxlaw-9799	419	132	a	a	DET
taxlaw-9799	419	133	“	"	PUNCT
taxlaw-9799	419	134	significantly	significantly	ADV
taxlaw-9799	419	135	more	more	ADV
taxlaw-9799	419	136	attractive	attractive	ADJ
taxlaw-9799	419	137	acquisition	acquisition	NOUN
taxlaw-9799	419	138	”	"	PUNCT
taxlaw-9799	419	139	target.103	target.103	NOUN
taxlaw-9799	419	140	this	this	PRON
taxlaw-9799	419	141	would	would	AUX
taxlaw-9799	419	142	enable	enable	VERB
taxlaw-9799	419	143	both	both	CCONJ
taxlaw-9799	419	144	the	the	DET
taxlaw-9799	419	145	parent	parent	NOUN
taxlaw-9799	419	146	and	and	CCONJ
taxlaw-9799	419	147	spinco	spinco	NOUN
taxlaw-9799	419	148	to	to	ADP
taxlaw-9799	419	149	“	"	PUNCT
taxlaw-9799	419	150	more	more	ADV
taxlaw-9799	419	151	efficiently	efficiently	ADV
taxlaw-9799	419	152	.	.	PUNCT
taxlaw-9799	419	153	.	.	PUNCT
taxlaw-9799	420	1	.	.	PUNCT
taxlaw-9799	421	1	compensate	compensate	VERB
taxlaw-9799	421	2	their	their	PRON
taxlaw-9799	421	3	officers	officer	NOUN
taxlaw-9799	421	4	and	and	CCONJ
taxlaw-9799	421	5	employees	employee	NOUN
taxlaw-9799	421	6	.	.	PUNCT
taxlaw-9799	421	7	”104	”104	PUNCT
taxlaw-9799	422	1	the	the	DET
taxlaw-9799	422	2	i.r.s	i.r.s	PROPN
taxlaw-9799	422	3	.	.	PUNCT
taxlaw-9799	422	4	has	have	AUX
taxlaw-9799	422	5	acknowledged	acknowledge	VERB
taxlaw-9799	422	6	that	that	SCONJ
taxlaw-9799	422	7	increasing	increase	VERB
taxlaw-9799	422	8	the	the	DET
taxlaw-9799	422	9	stock	stock	NOUN
taxlaw-9799	422	10	price	price	NOUN
taxlaw-9799	422	11	can	can	AUX
taxlaw-9799	422	12	constitute	constitute	VERB
taxlaw-9799	422	13	a	a	DET
taxlaw-9799	422	14	compelling	compelling	ADJ
taxlaw-9799	422	15	business	business	NOUN
taxlaw-9799	422	16	purpose	purpose	NOUN
taxlaw-9799	422	17	for	for	ADP
taxlaw-9799	422	18	a	a	DET
taxlaw-9799	422	19	spinoff	spinoff	NOUN
taxlaw-9799	422	20	as	as	ADV
taxlaw-9799	422	21	long	long	ADV
taxlaw-9799	422	22	as	as	SCONJ
taxlaw-9799	422	23	the	the	DET
taxlaw-9799	422	24	possible	possible	ADJ
taxlaw-9799	422	25	share	share	NOUN
taxlaw-9799	422	26	price	price	NOUN
taxlaw-9799	422	27	increase	increase	NOUN
taxlaw-9799	422	28	is	be	AUX
taxlaw-9799	422	29	not	not	PART
taxlaw-9799	422	30	a	a	DET
taxlaw-9799	422	31	“	"	PUNCT
taxlaw-9799	422	32	pure	pure	ADJ
taxlaw-9799	422	33	”	"	PUNCT
taxlaw-9799	422	34	shareholder	shareholder	NOUN
taxlaw-9799	422	35	concern	concern	NOUN
taxlaw-9799	422	36	.	.	PUNCT
taxlaw-9799	423	1	that	that	PRON
taxlaw-9799	423	2	is	is	ADV
taxlaw-9799	423	3	,	,	PUNCT
taxlaw-9799	423	4	the	the	DET
taxlaw-9799	423	5	company	company	NOUN
taxlaw-9799	423	6	must	must	AUX
taxlaw-9799	423	7	also	also	ADV
taxlaw-9799	423	8	draw	draw	VERB
taxlaw-9799	423	9	a	a	DET
taxlaw-9799	423	10	link	link	NOUN
taxlaw-9799	423	11	between	between	ADP
taxlaw-9799	423	12	an	an	DET
taxlaw-9799	423	13	increase	increase	NOUN
taxlaw-9799	423	14	in	in	ADP
taxlaw-9799	423	15	the	the	DET
taxlaw-9799	423	16	share	share	NOUN
taxlaw-9799	423	17	price	price	NOUN
taxlaw-9799	423	18	and	and	CCONJ
taxlaw-9799	423	19	some	some	DET
taxlaw-9799	423	20	benefit	benefit	NOUN
taxlaw-9799	423	21	at	at	ADP
taxlaw-9799	423	22	the	the	DET
taxlaw-9799	423	23	corporate	corporate	ADJ
taxlaw-9799	423	24	level	level	NOUN
taxlaw-9799	423	25	,	,	PUNCT
taxlaw-9799	423	26	such	such	ADJ
taxlaw-9799	423	27	as	as	ADP
taxlaw-9799	423	28	helping	help	VERB
taxlaw-9799	423	29	to	to	PART
taxlaw-9799	423	30	improve	improve	VERB
taxlaw-9799	423	31	cash	cash	NOUN
taxlaw-9799	423	32	flow	flow	NOUN
taxlaw-9799	423	33	so	so	SCONJ
taxlaw-9799	423	34	that	that	SCONJ
taxlaw-9799	423	35	management	management	NOUN
taxlaw-9799	423	36	may	may	AUX
taxlaw-9799	423	37	purchase	purchase	VERB
taxlaw-9799	423	38	a	a	DET
taxlaw-9799	423	39	necessary	necessary	ADJ
taxlaw-9799	423	40	business	business	NOUN
taxlaw-9799	423	41	asset	asset	NOUN
taxlaw-9799	423	42	.	.	PUNCT
taxlaw-9799	424	1	here	here	ADV
taxlaw-9799	424	2	,	,	PUNCT
taxlaw-9799	424	3	what	what	PRON
taxlaw-9799	424	4	would	would	AUX
taxlaw-9799	424	5	otherwise	otherwise	ADV
taxlaw-9799	424	6	be	be	AUX
taxlaw-9799	424	7	a	a	DET
taxlaw-9799	424	8	pure	pure	ADJ
taxlaw-9799	424	9	shareholder	shareholder	NOUN
taxlaw-9799	424	10	purpose	purpose	NOUN
taxlaw-9799	424	11	,	,	PUNCT
taxlaw-9799	424	12	a	a	DET
taxlaw-9799	424	13	higher	high	ADJ
taxlaw-9799	424	14	stock	stock	NOUN
taxlaw-9799	424	15	price	price	NOUN
taxlaw-9799	424	16	,	,	PUNCT
taxlaw-9799	424	17	satisfied	satisfy	VERB
taxlaw-9799	424	18	the	the	DET
taxlaw-9799	424	19	corporate	corporate	ADJ
taxlaw-9799	424	20	business	business	NOUN
taxlaw-9799	424	21	purpose	purpose	NOUN
taxlaw-9799	424	22	requirement	requirement	NOUN
taxlaw-9799	424	23	because	because	SCONJ
taxlaw-9799	424	24	the	the	DET
taxlaw-9799	424	25	boost	boost	NOUN
taxlaw-9799	424	26	in	in	ADP
taxlaw-9799	424	27	share	share	NOUN
taxlaw-9799	424	28	value	value	NOUN
taxlaw-9799	424	29	would	would	AUX
taxlaw-9799	424	30	supposedly	supposedly	ADV
taxlaw-9799	424	31	help	help	VERB
taxlaw-9799	424	32	to	to	PART
taxlaw-9799	424	33	attract	attract	VERB
taxlaw-9799	424	34	corporate	corporate	ADJ
taxlaw-9799	424	35	buyers	buyer	NOUN
taxlaw-9799	424	36	.	.	PUNCT
taxlaw-9799	425	1	in	in	ADP
taxlaw-9799	425	2	accordance	accordance	NOUN
taxlaw-9799	425	3	with	with	ADP
taxlaw-9799	425	4	its	its	PRON
taxlaw-9799	425	5	no	no	DET
taxlaw-9799	425	6	-	-	PUNCT
taxlaw-9799	425	7	rule	rule	NOUN
taxlaw-9799	425	8	policy	policy	NOUN
taxlaw-9799	425	9	on	on	ADP
taxlaw-9799	425	10	the	the	DET
taxlaw-9799	425	11	legitimacy	legitimacy	NOUN
taxlaw-9799	425	12	of	of	ADP
taxlaw-9799	425	13	a	a	DET
taxlaw-9799	425	14	transaction	transaction	NOUN
taxlaw-9799	425	15	’s	’s	PART
taxlaw-9799	425	16	business	business	NOUN
taxlaw-9799	425	17	purpose,105	purpose,105	PROPN
taxlaw-9799	425	18	the	the	DET
taxlaw-9799	425	19	i.r.s	i.r.s	PROPN
taxlaw-9799	425	20	.	.	PUNCT
taxlaw-9799	425	21	expressed	express	VERB
taxlaw-9799	425	22	no	no	DET
taxlaw-9799	425	23	opinion	opinion	NOUN
taxlaw-9799	425	24	as	as	ADP
taxlaw-9799	425	25	to	to	ADP
taxlaw-9799	425	26	whether	whether	SCONJ
taxlaw-9799	425	27	the	the	DET
taxlaw-9799	425	28	spin	spin	NOUN
taxlaw-9799	425	29	-	-	PUNCT
taxlaw-9799	425	30	off	off	NOUN
taxlaw-9799	425	31	met	meet	VERB
taxlaw-9799	425	32	the	the	DET
taxlaw-9799	425	33	corporate	corporate	ADJ
taxlaw-9799	425	34	business	business	NOUN
taxlaw-9799	425	35	purpose	purpose	NOUN
taxlaw-9799	425	36	requirement	requirement	NOUN
taxlaw-9799	425	37	.	.	PUNCT
taxlaw-9799	426	1	the	the	DET
taxlaw-9799	426	2	transaction	transaction	NOUN
taxlaw-9799	426	3	satisfied	satisfy	VERB
taxlaw-9799	426	4	the	the	DET
taxlaw-9799	426	5	active	active	ADJ
taxlaw-9799	426	6	trade	trade	NOUN
taxlaw-9799	426	7	or	or	CCONJ
taxlaw-9799	426	8	business	business	NOUN
taxlaw-9799	426	9	requirement	requirement	NOUN
taxlaw-9799	426	10	because	because	SCONJ
taxlaw-9799	426	11	,	,	PUNCT
taxlaw-9799	426	12	before	before	ADP
taxlaw-9799	426	13	the	the	DET
taxlaw-9799	426	14	transaction	transaction	NOUN
taxlaw-9799	426	15	,	,	PUNCT
taxlaw-9799	426	16	liberty	liberty	NOUN
taxlaw-9799	426	17	and	and	CCONJ
taxlaw-9799	426	18	buyseasons	buyseason	NOUN
taxlaw-9799	426	19	99	99	NUM
taxlaw-9799	426	20	vindu	vindu	NOUN
taxlaw-9799	426	21	goel	goel	PROPN
taxlaw-9799	426	22	&	&	CCONJ
taxlaw-9799	426	23	michael	michael	PROPN
taxlaw-9799	426	24	j.	j.	PROPN
taxlaw-9799	426	25	de	de	PROPN
taxlaw-9799	426	26	la	la	PROPN
taxlaw-9799	426	27	merced	merced	PROPN
taxlaw-9799	426	28	,	,	PUNCT
taxlaw-9799	426	29	i.r.s	i.r.s	PROPN
taxlaw-9799	426	30	.	.	PUNCT
taxlaw-9799	427	1	look	look	VERB
taxlaw-9799	427	2	at	at	ADP
taxlaw-9799	427	3	spin	spin	NOUN
taxlaw-9799	427	4	-	-	PUNCT
taxlaw-9799	427	5	offs	off	NOUN
taxlaw-9799	427	6	may	may	AUX
taxlaw-9799	427	7	affect	affect	VERB
taxlaw-9799	427	8	yahoo	yahoo	PROPN
taxlaw-9799	427	9	plan	plan	PROPN
taxlaw-9799	427	10	,	,	PUNCT
taxlaw-9799	427	11	n.y	n.y	PROPN
taxlaw-9799	427	12	.	.	PROPN
taxlaw-9799	427	13	times	times	PROPN
taxlaw-9799	427	14	(	(	PUNCT
taxlaw-9799	427	15	may	may	PROPN
taxlaw-9799	427	16	19	19	NUM
taxlaw-9799	427	17	,	,	PUNCT
taxlaw-9799	427	18	2015	2015	NUM
taxlaw-9799	427	19	)	)	PUNCT
taxlaw-9799	427	20	,	,	PUNCT
taxlaw-9799	428	1	https://www.nytimes.com/2015/05/20/technology/irs-look-at-spinoffs-may-affect-yahoo-plan.html	https://www.nytimes.com/2015/05/20/technology/irs-look-at-spinoffs-may-affect-yahoo-plan.html	PROPN
taxlaw-9799	428	2	[	[	X
taxlaw-9799	428	3	https://perma.cc/b9g5-uems	https://perma.cc/b9g5-uem	NOUN
taxlaw-9799	428	4	]	]	PUNCT
taxlaw-9799	428	5	.	.	PUNCT
taxlaw-9799	429	1	100	100	NUM
taxlaw-9799	429	2	see	see	VERB
taxlaw-9799	429	3	liberty	liberty	PROPN
taxlaw-9799	429	4	tripadvisor	tripadvisor	PROPN
taxlaw-9799	429	5	holdings	holdings	PROPN
taxlaw-9799	429	6	,	,	PUNCT
taxlaw-9799	429	7	inc	inc	PROPN
taxlaw-9799	429	8	.	.	PROPN
taxlaw-9799	429	9	,	,	PUNCT
taxlaw-9799	429	10	registration	registration	NOUN
taxlaw-9799	429	11	statement	statement	NOUN
taxlaw-9799	429	12	(	(	PUNCT
taxlaw-9799	429	13	form	form	NOUN
taxlaw-9799	429	14	s-1	s-1	NOUN
taxlaw-9799	429	15	)	)	PUNCT
taxlaw-9799	429	16	(	(	PUNCT
taxlaw-9799	429	17	may	may	PROPN
taxlaw-9799	429	18	5	5	NUM
taxlaw-9799	429	19	,	,	PUNCT
taxlaw-9799	429	20	2014	2014	NUM
taxlaw-9799	429	21	)	)	PUNCT
taxlaw-9799	429	22	,	,	PUNCT
taxlaw-9799	429	23	https://sec.report/document/0001047469-14-004609/#ca71601_the_spin-off	https://sec.report/document/0001047469-14-004609/#ca71601_the_spin-off	X
taxlaw-9799	430	1	[	[	X
taxlaw-9799	430	2	https://perma.cc/x6uv-3rbz	https://perma.cc/x6uv-3rbz	PROPN
taxlaw-9799	430	3	]	]	X
taxlaw-9799	430	4	;	;	PUNCT
taxlaw-9799	430	5	amy	amy	PROPN
taxlaw-9799	430	6	s.	s.	PROPN
taxlaw-9799	430	7	elliott	elliott	PROPN
taxlaw-9799	430	8	,	,	PUNCT
taxlaw-9799	430	9	yahoo	yahoo	PROPN
taxlaw-9799	430	10	may	may	AUX
taxlaw-9799	430	11	waive	waive	VERB
taxlaw-9799	430	12	receipt	receipt	NOUN
taxlaw-9799	430	13	of	of	ADP
taxlaw-9799	430	14	favorable	favorable	ADJ
taxlaw-9799	430	15	ruling	ruling	NOUN
taxlaw-9799	430	16	spin	spin	NOUN
taxlaw-9799	430	17	-	-	PUNCT
taxlaw-9799	430	18	off	off	ADP
taxlaw-9799	430	19	condition	condition	NOUN
taxlaw-9799	430	20	,	,	PUNCT
taxlaw-9799	430	21	tax	tax	NOUN
taxlaw-9799	430	22	analysts	analyst	NOUN
taxlaw-9799	430	23	(	(	PUNCT
taxlaw-9799	430	24	july	july	PROPN
taxlaw-9799	430	25	21	21	NUM
taxlaw-9799	430	26	,	,	PUNCT
taxlaw-9799	430	27	2015	2015	NUM
taxlaw-9799	430	28	)	)	PUNCT
taxlaw-9799	430	29	,	,	PUNCT
taxlaw-9799	430	30	http://www.taxhistory.org/www/features.nsf/articles/5c5bf388237946ad85257e89005caecd	http://www.taxhistory.org/www/features.nsf/articles/5c5bf388237946ad85257e89005caecd	PROPN
taxlaw-9799	430	31	?	?	PUNCT
taxlaw-9799	430	32	opendocument	opendocument	NOUN
taxlaw-9799	430	33	[	[	X
taxlaw-9799	430	34	https://perma.cc/z4q7-eexp	https://perma.cc/z4q7-eexp	NOUN
taxlaw-9799	430	35	]	]	PUNCT
taxlaw-9799	430	36	.	.	PUNCT
taxlaw-9799	431	1	101	101	NUM
taxlaw-9799	431	2	see	see	VERB
taxlaw-9799	431	3	i.r.s	i.r.	NOUN
taxlaw-9799	431	4	.	.	PUNCT
taxlaw-9799	432	1	priv	priv	PROPN
taxlaw-9799	432	2	.	.	PUNCT
taxlaw-9799	433	1	ltr	ltr	PROPN
taxlaw-9799	433	2	.	.	PUNCT
taxlaw-9799	433	3	rul	rul	PROPN
taxlaw-9799	433	4	.	.	PUNCT
taxlaw-9799	433	5	2014	2014	NUM
taxlaw-9799	433	6	-	-	SYM
taxlaw-9799	433	7	35	35	NUM
taxlaw-9799	433	8	-	-	SYM
taxlaw-9799	433	9	005	005	NUM
taxlaw-9799	433	10	(	(	PUNCT
taxlaw-9799	433	11	aug	aug	PROPN
taxlaw-9799	433	12	.	.	PROPN
taxlaw-9799	433	13	29	29	NUM
taxlaw-9799	433	14	,	,	PUNCT
taxlaw-9799	433	15	2014	2014	NUM
taxlaw-9799	433	16	)	)	PUNCT
taxlaw-9799	434	1	(	(	PUNCT
taxlaw-9799	434	2	discussing	discuss	VERB
taxlaw-9799	434	3	rationale	rationale	NOUN
taxlaw-9799	434	4	behind	behind	ADP
taxlaw-9799	434	5	i.r.s	i.r.s	PROPN
taxlaw-9799	434	6	.	.	PROPN
taxlaw-9799	434	7	’s	’s	PART
taxlaw-9799	434	8	ruling	ruling	NOUN
taxlaw-9799	434	9	)	)	PUNCT
taxlaw-9799	434	10	.	.	PUNCT
taxlaw-9799	435	1	102	102	NUM
taxlaw-9799	435	2	see	see	VERB
taxlaw-9799	435	3	i	i	PRON
taxlaw-9799	435	4	d.	d.	PROPN
taxlaw-9799	435	5	103	103	NUM
taxlaw-9799	436	1	i	i	PRON
taxlaw-9799	436	2	d.	d.	PROPN
taxlaw-9799	436	3	at	at	ADP
taxlaw-9799	436	4	5	5	NUM
taxlaw-9799	436	5	.	.	PUNCT
taxlaw-9799	436	6	104	104	NUM
taxlaw-9799	437	1	i	i	PRON
taxlaw-9799	437	2	d.	d.	PROPN
taxlaw-9799	437	3	at	at	ADP
taxlaw-9799	437	4	6	6	NUM
taxlaw-9799	437	5	.	.	SYM
taxlaw-9799	437	6	105	105	NUM
taxlaw-9799	437	7	rev	rev	X
taxlaw-9799	437	8	.	.	PROPN
taxlaw-9799	437	9	proc	proc	PROPN
taxlaw-9799	437	10	.	.	PUNCT
taxlaw-9799	438	1	2003	2003	NUM
taxlaw-9799	438	2	-	-	SYM
taxlaw-9799	438	3	48	48	NUM
taxlaw-9799	438	4	,	,	PUNCT
taxlaw-9799	438	5	supra	supra	NOUN
taxlaw-9799	438	6	note	note	NOUN
taxlaw-9799	438	7	46	46	NUM
taxlaw-9799	438	8	.	.	SYM
taxlaw-9799	438	9	185	185	NUM
taxlaw-9799	438	10	columbia	columbia	PROPN
taxlaw-9799	438	11	journal	journal	PROPN
taxlaw-9799	438	12	of	of	ADP
taxlaw-9799	438	13	tax	tax	NOUN
taxlaw-9799	438	14	law	law	NOUN
taxlaw-9799	439	1	[	[	X
taxlaw-9799	439	2	vol	vol	NOUN
taxlaw-9799	439	3	:	:	PUNCT
taxlaw-9799	439	4	13:2	13:2	NUM
taxlaw-9799	439	5	presented	present	VERB
taxlaw-9799	439	6	“	"	PUNCT
taxlaw-9799	439	7	gross	gross	ADJ
taxlaw-9799	439	8	receipts	receipt	NOUN
taxlaw-9799	439	9	and	and	CCONJ
taxlaw-9799	439	10	operating	operating	NOUN
taxlaw-9799	439	11	expenses	expense	NOUN
taxlaw-9799	439	12	representing	represent	VERB
taxlaw-9799	439	13	the	the	DET
taxlaw-9799	439	14	active	active	ADJ
taxlaw-9799	439	15	conduct	conduct	NOUN
taxlaw-9799	439	16	of	of	ADP
taxlaw-9799	439	17	a	a	DET
taxlaw-9799	439	18	trade	trade	NOUN
taxlaw-9799	439	19	or	or	CCONJ
taxlaw-9799	439	20	business	business	NOUN
taxlaw-9799	439	21	for	for	ADP
taxlaw-9799	439	22	.	.	PUNCT
taxlaw-9799	439	23	.	.	PUNCT
taxlaw-9799	439	24	.	.	PUNCT
taxlaw-9799	440	1	five	five	NUM
taxlaw-9799	440	2	years	year	NOUN
taxlaw-9799	440	3	.	.	PUNCT
taxlaw-9799	440	4	”106	”106	PUNCT
taxlaw-9799	440	5	in	in	ADP
taxlaw-9799	440	6	its	its	PRON
taxlaw-9799	440	7	request	request	NOUN
taxlaw-9799	440	8	for	for	ADP
taxlaw-9799	440	9	a	a	DET
taxlaw-9799	440	10	private	private	ADJ
taxlaw-9799	440	11	letter	letter	NOUN
taxlaw-9799	440	12	ruling	ruling	NOUN
taxlaw-9799	440	13	,	,	PUNCT
taxlaw-9799	440	14	liberty	liberty	NOUN
taxlaw-9799	440	15	represented	represent	VERB
taxlaw-9799	440	16	,	,	PUNCT
taxlaw-9799	440	17	among	among	ADP
taxlaw-9799	440	18	other	other	ADJ
taxlaw-9799	440	19	things	thing	NOUN
taxlaw-9799	440	20	,	,	PUNCT
taxlaw-9799	440	21	that	that	SCONJ
taxlaw-9799	440	22	the	the	DET
taxlaw-9799	440	23	spin	spin	NOUN
taxlaw-9799	440	24	-	-	PUNCT
taxlaw-9799	440	25	off	off	NOUN
taxlaw-9799	440	26	was	be	AUX
taxlaw-9799	440	27	“	"	PUNCT
taxlaw-9799	440	28	not	not	PART
taxlaw-9799	440	29	being	be	AUX
taxlaw-9799	440	30	used	use	VERB
taxlaw-9799	440	31	principally	principally	ADV
taxlaw-9799	440	32	as	as	ADP
taxlaw-9799	440	33	a	a	DET
taxlaw-9799	440	34	device	device	NOUN
taxlaw-9799	440	35	for	for	ADP
taxlaw-9799	440	36	the	the	DET
taxlaw-9799	440	37	distribution	distribution	NOUN
taxlaw-9799	440	38	of	of	ADP
taxlaw-9799	440	39	the	the	DET
taxlaw-9799	440	40	earnings	earning	NOUN
taxlaw-9799	440	41	and	and	CCONJ
taxlaw-9799	440	42	profits	profit	NOUN
taxlaw-9799	440	43	”	"	PUNCT
taxlaw-9799	440	44	of	of	ADP
taxlaw-9799	440	45	buyseasons	buyseason	NOUN
taxlaw-9799	440	46	or	or	CCONJ
taxlaw-9799	440	47	spinco	spinco	NOUN
taxlaw-9799	440	48	,	,	PUNCT
taxlaw-9799	440	49	and	and	CCONJ
taxlaw-9799	440	50	that	that	SCONJ
taxlaw-9799	440	51	“	"	PUNCT
taxlaw-9799	440	52	the	the	DET
taxlaw-9799	440	53	spin	spin	NOUN
taxlaw-9799	440	54	-	-	PUNCT
taxlaw-9799	440	55	off	off	NOUN
taxlaw-9799	440	56	[	[	X
taxlaw-9799	440	57	was	be	AUX
taxlaw-9799	440	58	]	]	PUNCT
taxlaw-9799	440	59	not	not	PART
taxlaw-9799	440	60	part	part	NOUN
taxlaw-9799	440	61	of	of	ADP
taxlaw-9799	440	62	a	a	DET
taxlaw-9799	440	63	plan	plan	NOUN
taxlaw-9799	440	64	or	or	CCONJ
taxlaw-9799	440	65	series	series	NOUN
taxlaw-9799	440	66	of	of	ADP
taxlaw-9799	440	67	related	related	ADJ
taxlaw-9799	440	68	transactions	transaction	NOUN
taxlaw-9799	440	69	(	(	PUNCT
taxlaw-9799	440	70	within	within	ADP
taxlaw-9799	440	71	the	the	DET
taxlaw-9799	440	72	meaning	meaning	NOUN
taxlaw-9799	440	73	of	of	ADP
taxlaw-9799	440	74	§	§	PROPN
taxlaw-9799	440	75	1.355	1.355	NUM
taxlaw-9799	440	76	-	-	SYM
taxlaw-9799	440	77	7	7	NUM
taxlaw-9799	440	78	)	)	PUNCT
taxlaw-9799	440	79	pursuant	pursuant	NOUN
taxlaw-9799	440	80	to	to	ADP
taxlaw-9799	440	81	which	which	PRON
taxlaw-9799	440	82	one	one	NUM
taxlaw-9799	440	83	or	or	CCONJ
taxlaw-9799	440	84	more	more	ADJ
taxlaw-9799	440	85	persons	person	NOUN
taxlaw-9799	440	86	[	[	X
taxlaw-9799	440	87	would	would	AUX
taxlaw-9799	440	88	]	]	X
taxlaw-9799	440	89	acquire	acquire	VERB
taxlaw-9799	440	90	.	.	PUNCT
taxlaw-9799	440	91	.	.	PUNCT
taxlaw-9799	440	92	.	.	PUNCT
taxlaw-9799	441	1	stock	stock	NOUN
taxlaw-9799	441	2	representing	represent	VERB
taxlaw-9799	441	3	a	a	DET
taxlaw-9799	441	4	50[%	50[%	NUM
taxlaw-9799	441	5	]	]	PUNCT
taxlaw-9799	441	6	or	or	CCONJ
taxlaw-9799	441	7	greater	great	ADJ
taxlaw-9799	441	8	interest	interest	NOUN
taxlaw-9799	441	9	(	(	PUNCT
taxlaw-9799	441	10	within	within	ADP
taxlaw-9799	441	11	the	the	DET
taxlaw-9799	441	12	meaning	meaning	NOUN
taxlaw-9799	441	13	of	of	ADP
taxlaw-9799	441	14	§	§	PROPN
taxlaw-9799	441	15	355(d)(4	355(d)(4	NUM
taxlaw-9799	441	16	)	)	PUNCT
taxlaw-9799	441	17	)	)	PUNCT
taxlaw-9799	441	18	in	in	ADP
taxlaw-9799	441	19	distributing	distribute	VERB
taxlaw-9799	441	20	or	or	CCONJ
taxlaw-9799	441	21	controlled	control	VERB
taxlaw-9799	441	22	.	.	PUNCT
taxlaw-9799	441	23	”107	”107	PUNCT
taxlaw-9799	442	1	as	as	SCONJ
taxlaw-9799	442	2	it	it	PRON
taxlaw-9799	442	3	did	do	AUX
taxlaw-9799	442	4	with	with	ADP
taxlaw-9799	442	5	respect	respect	NOUN
taxlaw-9799	442	6	to	to	ADP
taxlaw-9799	442	7	the	the	DET
taxlaw-9799	442	8	business	business	NOUN
taxlaw-9799	442	9	purpose	purpose	NOUN
taxlaw-9799	442	10	requirement	requirement	NOUN
taxlaw-9799	442	11	,	,	PUNCT
taxlaw-9799	442	12	the	the	DET
taxlaw-9799	442	13	i.r.s	i.r.	NOUN
taxlaw-9799	442	14	.	.	PUNCT
taxlaw-9799	442	15	cautioned	caution	VERB
taxlaw-9799	442	16	that	that	SCONJ
taxlaw-9799	442	17	it	it	PRON
taxlaw-9799	442	18	expressed	express	VERB
taxlaw-9799	442	19	no	no	DET
taxlaw-9799	442	20	opinion	opinion	NOUN
taxlaw-9799	442	21	regarding	regard	VERB
taxlaw-9799	442	22	these	these	DET
taxlaw-9799	442	23	issues	issue	NOUN
taxlaw-9799	442	24	either.108	either.108	PRON
taxlaw-9799	442	25	the	the	DET
taxlaw-9799	442	26	i.r.s	i.r.s	PROPN
taxlaw-9799	442	27	.	.	PUNCT
taxlaw-9799	443	1	flagged	flag	VERB
taxlaw-9799	443	2	two	two	NUM
taxlaw-9799	443	3	potentially	potentially	ADV
taxlaw-9799	443	4	concerning	concern	VERB
taxlaw-9799	443	5	aspects	aspect	NOUN
taxlaw-9799	443	6	of	of	ADP
taxlaw-9799	443	7	liberty	liberty	NOUN
taxlaw-9799	443	8	’s	’s	PART
taxlaw-9799	443	9	spin	spin	NOUN
taxlaw-9799	443	10	-	-	PUNCT
taxlaw-9799	443	11	off	off	NOUN
taxlaw-9799	443	12	:	:	PUNCT
taxlaw-9799	443	13	(	(	PUNCT
taxlaw-9799	443	14	1	1	X
taxlaw-9799	443	15	)	)	PUNCT
taxlaw-9799	443	16	whether	whether	SCONJ
taxlaw-9799	443	17	the	the	DET
taxlaw-9799	443	18	transaction	transaction	NOUN
taxlaw-9799	443	19	satisfied	satisfy	VERB
taxlaw-9799	443	20	the	the	DET
taxlaw-9799	443	21	nondevice	nondevice	NOUN
taxlaw-9799	443	22	requirement	requirement	NOUN
taxlaw-9799	443	23	,	,	PUNCT
taxlaw-9799	443	24	and	and	CCONJ
taxlaw-9799	443	25	(	(	PUNCT
taxlaw-9799	443	26	2	2	X
taxlaw-9799	443	27	)	)	PUNCT
taxlaw-9799	443	28	whether	whether	SCONJ
taxlaw-9799	443	29	the	the	DET
taxlaw-9799	443	30	transaction	transaction	NOUN
taxlaw-9799	443	31	constituted	constitute	VERB
taxlaw-9799	443	32	a	a	DET
taxlaw-9799	443	33	plan	plan	NOUN
taxlaw-9799	443	34	or	or	CCONJ
taxlaw-9799	443	35	series	series	NOUN
taxlaw-9799	443	36	of	of	ADP
taxlaw-9799	443	37	related	related	ADJ
taxlaw-9799	443	38	transactions	transaction	NOUN
taxlaw-9799	443	39	in	in	ADP
taxlaw-9799	443	40	violation	violation	NOUN
taxlaw-9799	443	41	of	of	ADP
taxlaw-9799	443	42	the	the	DET
taxlaw-9799	443	43	anti	anti	ADJ
taxlaw-9799	443	44	-	-	ADJ
taxlaw-9799	443	45	morris	morris	ADJ
taxlaw-9799	443	46	trust	trust	NOUN
taxlaw-9799	443	47	provision	provision	NOUN
taxlaw-9799	443	48	under	under	ADP
taxlaw-9799	443	49	section	section	NOUN
taxlaw-9799	443	50	355(e).109	355(e).109	NUM
taxlaw-9799	443	51	the	the	DET
taxlaw-9799	443	52	i.r.s	i.r.	NOUN
taxlaw-9799	443	53	.	.	PUNCT
taxlaw-9799	444	1	flagged	flag	VERB
taxlaw-9799	444	2	the	the	DET
taxlaw-9799	444	3	nondevice	nondevice	NOUN
taxlaw-9799	444	4	requirement	requirement	NOUN
taxlaw-9799	444	5	because	because	SCONJ
taxlaw-9799	444	6	the	the	DET
taxlaw-9799	444	7	spinco	spinco	NOUN
taxlaw-9799	444	8	would	would	AUX
taxlaw-9799	444	9	consist	consist	VERB
taxlaw-9799	444	10	primarily	primarily	ADV
taxlaw-9799	444	11	of	of	ADP
taxlaw-9799	444	12	a	a	DET
taxlaw-9799	444	13	large	large	ADJ
taxlaw-9799	444	14	,	,	PUNCT
taxlaw-9799	444	15	appreciated	appreciate	VERB
taxlaw-9799	444	16	22	22	NUM
taxlaw-9799	444	17	%	%	NOUN
taxlaw-9799	444	18	stake	stake	NOUN
taxlaw-9799	444	19	in	in	ADP
taxlaw-9799	444	20	tripadvisor	tripadvisor	NOUN
taxlaw-9799	444	21	—	—	PUNCT
taxlaw-9799	444	22	a	a	DET
taxlaw-9799	444	23	passive	passive	ADJ
taxlaw-9799	444	24	investment	investment	NOUN
taxlaw-9799	444	25	—	—	PUNCT
taxlaw-9799	444	26	combined	combine	VERB
taxlaw-9799	444	27	with	with	ADP
taxlaw-9799	444	28	a	a	DET
taxlaw-9799	444	29	very	very	ADV
taxlaw-9799	444	30	small	small	ADJ
taxlaw-9799	444	31	active	active	ADJ
taxlaw-9799	444	32	trade	trade	NOUN
taxlaw-9799	444	33	or	or	CCONJ
taxlaw-9799	444	34	business	business	NOUN
taxlaw-9799	444	35	,	,	PUNCT
taxlaw-9799	444	36	the	the	DET
taxlaw-9799	444	37	online	online	ADJ
taxlaw-9799	444	38	retailer	retailer	NOUN
taxlaw-9799	444	39	buyseasons	buyseason	NOUN
taxlaw-9799	444	40	.	.	PUNCT
taxlaw-9799	445	1	the	the	DET
taxlaw-9799	445	2	inclusion	inclusion	NOUN
taxlaw-9799	445	3	of	of	ADP
taxlaw-9799	445	4	buyseasons	buyseason	NOUN
taxlaw-9799	445	5	could	could	AUX
taxlaw-9799	445	6	therefore	therefore	ADV
taxlaw-9799	445	7	be	be	AUX
taxlaw-9799	445	8	seen	see	VERB
taxlaw-9799	445	9	as	as	ADP
taxlaw-9799	445	10	pretextual	pretextual	ADJ
taxlaw-9799	445	11	.	.	PUNCT
taxlaw-9799	446	1	the	the	DET
taxlaw-9799	446	2	spin	spin	NOUN
taxlaw-9799	446	3	-	-	PUNCT
taxlaw-9799	446	4	off	off	NOUN
taxlaw-9799	446	5	’s	’s	PART
taxlaw-9799	446	6	overall	overall	ADJ
taxlaw-9799	446	7	purpose	purpose	NOUN
taxlaw-9799	446	8	was	be	AUX
taxlaw-9799	446	9	likely	likely	ADJ
taxlaw-9799	446	10	to	to	PART
taxlaw-9799	446	11	enable	enable	VERB
taxlaw-9799	446	12	a	a	DET
taxlaw-9799	446	13	tax	tax	NOUN
taxlaw-9799	446	14	-	-	PUNCT
taxlaw-9799	446	15	free	free	ADJ
taxlaw-9799	446	16	distribution	distribution	NOUN
taxlaw-9799	446	17	of	of	ADP
taxlaw-9799	446	18	the	the	DET
taxlaw-9799	446	19	tripadvisor	tripadvisor	NOUN
taxlaw-9799	446	20	shares	share	NOUN
taxlaw-9799	446	21	.	.	PUNCT
taxlaw-9799	447	1	founded	found	VERB
taxlaw-9799	447	2	in	in	ADP
taxlaw-9799	447	3	1999	1999	NUM
taxlaw-9799	447	4	,	,	PUNCT
taxlaw-9799	447	5	buyseasons	buyseason	NOUN
taxlaw-9799	447	6	grew	grow	VERB
taxlaw-9799	447	7	to	to	ADP
taxlaw-9799	447	8	550	550	NUM
taxlaw-9799	447	9	employees	employee	NOUN
taxlaw-9799	447	10	by	by	ADP
taxlaw-9799	447	11	2011	2011	NUM
taxlaw-9799	447	12	,	,	PUNCT
taxlaw-9799	447	13	but	but	CCONJ
taxlaw-9799	447	14	it	it	PRON
taxlaw-9799	447	15	reduced	reduce	VERB
taxlaw-9799	447	16	its	its	PRON
taxlaw-9799	447	17	operations	operation	NOUN
taxlaw-9799	447	18	to	to	ADP
taxlaw-9799	447	19	around	around	ADV
taxlaw-9799	447	20	350	350	NUM
taxlaw-9799	447	21	employees	employee	NOUN
taxlaw-9799	447	22	by	by	ADP
taxlaw-9799	447	23	2014.110	2014.110	PROPN
taxlaw-9799	447	24	thus	thus	ADV
taxlaw-9799	447	25	,	,	PUNCT
taxlaw-9799	447	26	buyseasons	buyseason	NOUN
taxlaw-9799	447	27	’s	’s	PART
taxlaw-9799	447	28	size	size	NOUN
taxlaw-9799	447	29	paled	pale	VERB
taxlaw-9799	447	30	in	in	ADP
taxlaw-9799	447	31	comparison	comparison	NOUN
taxlaw-9799	447	32	to	to	ADP
taxlaw-9799	447	33	liberty	liberty	PROPN
taxlaw-9799	447	34	’s	’s	PART
taxlaw-9799	447	35	stake	stake	NOUN
taxlaw-9799	447	36	in	in	ADP
taxlaw-9799	447	37	tripadvisor	tripadvisor	NOUN
taxlaw-9799	447	38	.	.	PUNCT
taxlaw-9799	448	1	moreover	moreover	ADV
taxlaw-9799	448	2	,	,	PUNCT
taxlaw-9799	448	3	the	the	DET
taxlaw-9799	448	4	spin	spin	NOUN
taxlaw-9799	448	5	-	-	PUNCT
taxlaw-9799	448	6	off	off	NOUN
taxlaw-9799	448	7	was	be	AUX
taxlaw-9799	448	8	in	in	ADP
taxlaw-9799	448	9	anticipation	anticipation	NOUN
taxlaw-9799	448	10	of	of	ADP
taxlaw-9799	448	11	an	an	DET
taxlaw-9799	448	12	acquisition	acquisition	NOUN
taxlaw-9799	448	13	:	:	PUNCT
taxlaw-9799	448	14	rubie	rubie	PROPN
taxlaw-9799	448	15	’s	’s	PART
taxlaw-9799	448	16	costume	costume	PROPN
taxlaw-9799	448	17	co.	co.	PROPN
taxlaw-9799	448	18	acquired	acquire	VERB
taxlaw-9799	448	19	buyseasons	buyseason	NOUN
taxlaw-9799	448	20	in	in	ADP
taxlaw-9799	448	21	2017.111	2017.111	PROPN
taxlaw-9799	448	22	although	although	SCONJ
taxlaw-9799	448	23	the	the	DET
taxlaw-9799	448	24	i.r.s	i.r.	NOUN
taxlaw-9799	448	25	.	.	PUNCT
taxlaw-9799	449	1	may	may	AUX
taxlaw-9799	449	2	have	have	AUX
taxlaw-9799	449	3	expressed	express	VERB
taxlaw-9799	449	4	some	some	DET
taxlaw-9799	449	5	reservations	reservation	NOUN
taxlaw-9799	449	6	about	about	ADP
taxlaw-9799	449	7	the	the	DET
taxlaw-9799	449	8	transaction	transaction	NOUN
taxlaw-9799	449	9	,	,	PUNCT
taxlaw-9799	449	10	it	it	PRON
taxlaw-9799	449	11	nevertheless	nevertheless	ADV
taxlaw-9799	449	12	approved	approve	VERB
taxlaw-9799	449	13	liberty	liberty	NOUN
taxlaw-9799	449	14	’s	’s	PART
taxlaw-9799	449	15	spin	spin	NOUN
taxlaw-9799	449	16	-	-	PUNCT
taxlaw-9799	449	17	off	off	NOUN
taxlaw-9799	449	18	of	of	ADP
taxlaw-9799	449	19	liberty	liberty	NOUN
taxlaw-9799	449	20	tripadvisor	tripadvisor	PROPN
taxlaw-9799	449	21	holdings	holding	NOUN
taxlaw-9799	449	22	,	,	PUNCT
taxlaw-9799	449	23	and	and	CCONJ
taxlaw-9799	449	24	the	the	DET
taxlaw-9799	449	25	tax	tax	NOUN
taxlaw-9799	449	26	-	-	PUNCT
taxlaw-9799	449	27	free	free	ADJ
taxlaw-9799	449	28	transaction	transaction	NOUN
taxlaw-9799	449	29	was	be	AUX
taxlaw-9799	449	30	executed	execute	VERB
taxlaw-9799	449	31	unchallenged	unchallenge	VERB
taxlaw-9799	449	32	.	.	PUNCT
taxlaw-9799	450	1	but	but	CCONJ
taxlaw-9799	450	2	the	the	DET
taxlaw-9799	450	3	i.r.s	i.r.	NOUN
taxlaw-9799	450	4	.	.	PUNCT
taxlaw-9799	450	5	was	be	AUX
taxlaw-9799	450	6	growing	grow	VERB
taxlaw-9799	450	7	increasingly	increasingly	ADV
taxlaw-9799	450	8	concerned	concerned	ADJ
taxlaw-9799	450	9	about	about	ADP
taxlaw-9799	450	10	potentially	potentially	ADV
taxlaw-9799	450	11	abusive	abusive	ADJ
taxlaw-9799	450	12	spin	spin	NOUN
taxlaw-9799	450	13	-	-	PUNCT
taxlaw-9799	450	14	offs	off	NOUN
taxlaw-9799	450	15	.	.	PUNCT
taxlaw-9799	451	1	the	the	DET
taxlaw-9799	451	2	i.r.s	i.r.	NOUN
taxlaw-9799	451	3	.	.	PUNCT
taxlaw-9799	451	4	reached	reach	VERB
taxlaw-9799	451	5	its	its	PRON
taxlaw-9799	451	6	breaking	breaking	NOUN
taxlaw-9799	451	7	point	point	NOUN
taxlaw-9799	451	8	when	when	SCONJ
taxlaw-9799	451	9	yahoo	yahoo	PROPN
taxlaw-9799	451	10	announced	announce	VERB
taxlaw-9799	451	11	its	its	PRON
taxlaw-9799	451	12	plans	plan	NOUN
taxlaw-9799	451	13	to	to	PART
taxlaw-9799	451	14	perform	perform	VERB
taxlaw-9799	451	15	a	a	DET
taxlaw-9799	451	16	tax	tax	NOUN
taxlaw-9799	451	17	-	-	PUNCT
taxlaw-9799	451	18	free	free	ADJ
taxlaw-9799	451	19	spin	spin	NOUN
taxlaw-9799	451	20	-	-	PUNCT
taxlaw-9799	451	21	off	off	NOUN
taxlaw-9799	451	22	of	of	ADP
taxlaw-9799	451	23	its	its	PRON
taxlaw-9799	451	24	massive	massive	ADJ
taxlaw-9799	451	25	,	,	PUNCT
taxlaw-9799	451	26	appreciated	appreciated	ADJ
taxlaw-9799	451	27	stake	stake	NOUN
taxlaw-9799	451	28	in	in	ADP
taxlaw-9799	451	29	alibaba	alibaba	PROPN
taxlaw-9799	451	30	,	,	PUNCT
taxlaw-9799	451	31	combined	combine	VERB
taxlaw-9799	451	32	with	with	ADP
taxlaw-9799	451	33	the	the	DET
taxlaw-9799	451	34	comparatively	comparatively	ADV
taxlaw-9799	451	35	tiny	tiny	ADJ
taxlaw-9799	451	36	yahoo	yahoo	ADJ
taxlaw-9799	451	37	small	small	ADJ
taxlaw-9799	451	38	business	business	NOUN
taxlaw-9799	451	39	.	.	PUNCT
taxlaw-9799	452	1	iv	iv	X
taxlaw-9799	452	2	.	.	PUNCT
taxlaw-9799	452	3	yahoo	yahoo	PROPN
taxlaw-9799	452	4	’s	’s	PART
taxlaw-9799	452	5	failed	fail	VERB
taxlaw-9799	452	6	spin	spin	NOUN
taxlaw-9799	452	7	-	-	PUNCT
taxlaw-9799	452	8	off	off	NOUN
taxlaw-9799	452	9	of	of	ADP
taxlaw-9799	452	10	alibaba	alibaba	NOUN
taxlaw-9799	452	11	by	by	ADP
taxlaw-9799	452	12	2016	2016	NUM
taxlaw-9799	452	13	,	,	PUNCT
taxlaw-9799	452	14	yahoo	yahoo	PROPN
taxlaw-9799	452	15	!	!	PROPN
taxlaw-9799	452	16	inc	inc	PROPN
taxlaw-9799	452	17	.	.	PROPN
taxlaw-9799	453	1	(	(	PUNCT
taxlaw-9799	453	2	“	"	PUNCT
taxlaw-9799	453	3	yahoo	yahoo	PROPN
taxlaw-9799	453	4	”	"	PUNCT
taxlaw-9799	453	5	)	)	PUNCT
taxlaw-9799	453	6	had	have	AUX
taxlaw-9799	453	7	grown	grow	VERB
taxlaw-9799	453	8	into	into	ADP
taxlaw-9799	453	9	an	an	DET
taxlaw-9799	453	10	internet	internet	NOUN
taxlaw-9799	453	11	conglomerate	conglomerate	NOUN
taxlaw-9799	453	12	.	.	PUNCT
taxlaw-9799	454	1	yahoo	yahoo	PROPN
taxlaw-9799	454	2	was	be	AUX
taxlaw-9799	454	3	founded	found	VERB
taxlaw-9799	454	4	in	in	ADP
taxlaw-9799	454	5	1994	1994	NUM
taxlaw-9799	454	6	as	as	ADP
taxlaw-9799	454	7	a	a	DET
taxlaw-9799	454	8	directory	directory	NOUN
taxlaw-9799	454	9	of	of	ADP
taxlaw-9799	454	10	websites.112	websites.112	PROPN
taxlaw-9799	454	11	in	in	ADP
taxlaw-9799	454	12	the	the	DET
taxlaw-9799	454	13	following	following	ADJ
taxlaw-9799	454	14	years	year	NOUN
taxlaw-9799	454	15	,	,	PUNCT
taxlaw-9799	454	16	it	it	PRON
taxlaw-9799	454	17	created	create	VERB
taxlaw-9799	454	18	a	a	DET
taxlaw-9799	454	19	search	search	NOUN
taxlaw-9799	454	20	engine	engine	NOUN
taxlaw-9799	454	21	and	and	CCONJ
taxlaw-9799	454	22	began	begin	VERB
taxlaw-9799	454	23	to	to	PART
taxlaw-9799	454	24	offer	offer	VERB
taxlaw-9799	454	25	email	email	NOUN
taxlaw-9799	454	26	,	,	PUNCT
taxlaw-9799	454	27	shopping	shopping	NOUN
taxlaw-9799	454	28	,	,	PUNCT
taxlaw-9799	454	29	and	and	CCONJ
taxlaw-9799	454	30	news	news	NOUN
taxlaw-9799	454	31	supported	support	VERB
taxlaw-9799	454	32	by	by	ADP
taxlaw-9799	454	33	106	106	NUM
taxlaw-9799	454	34	i.r.s	i.r.	NOUN
taxlaw-9799	454	35	.	.	PUNCT
taxlaw-9799	455	1	priv	priv	PROPN
taxlaw-9799	455	2	.	.	PUNCT
taxlaw-9799	456	1	ltr	ltr	PROPN
taxlaw-9799	456	2	.	.	PUNCT
taxlaw-9799	456	3	rul	rul	PROPN
taxlaw-9799	456	4	.	.	PUNCT
taxlaw-9799	456	5	2014	2014	NUM
taxlaw-9799	456	6	-	-	SYM
taxlaw-9799	456	7	35	35	NUM
taxlaw-9799	456	8	-	-	PUNCT
taxlaw-9799	456	9	005	005	NUM
taxlaw-9799	456	10	,	,	PUNCT
taxlaw-9799	456	11	supra	supra	PROPN
taxlaw-9799	456	12	note	note	NOUN
taxlaw-9799	456	13	101	101	NUM
taxlaw-9799	456	14	,	,	PUNCT
taxlaw-9799	456	15	at	at	ADP
taxlaw-9799	456	16	5	5	NUM
taxlaw-9799	456	17	.	.	NOUN
taxlaw-9799	456	18	107	107	NUM
taxlaw-9799	457	1	i	i	PRON
taxlaw-9799	457	2	d.	d.	PROPN
taxlaw-9799	457	3	at	at	ADP
taxlaw-9799	457	4	9	9	NUM
taxlaw-9799	457	5	,	,	PUNCT
taxlaw-9799	457	6	11	11	NUM
taxlaw-9799	457	7	.	.	X
taxlaw-9799	457	8	108	108	NUM
taxlaw-9799	458	1	i	i	PRON
taxlaw-9799	458	2	d.	d.	PROPN
taxlaw-9799	458	3	at	at	ADP
taxlaw-9799	458	4	13	13	NUM
taxlaw-9799	458	5	.	.	PUNCT
taxlaw-9799	459	1	109	109	NUM
taxlaw-9799	459	2	i	i	PROPN
taxlaw-9799	459	3	d.	d.	NOUN
taxlaw-9799	459	4	110	110	NUM
taxlaw-9799	459	5	melanie	melanie	PROPN
taxlaw-9799	459	6	lawder	lawder	PROPN
taxlaw-9799	459	7	,	,	PUNCT
taxlaw-9799	459	8	buyseasons	buyseason	NOUN
taxlaw-9799	459	9	acquired	acquire	VERB
taxlaw-9799	459	10	by	by	ADP
taxlaw-9799	459	11	rubie	rubie	PROPN
taxlaw-9799	459	12	’s	’s	PART
taxlaw-9799	459	13	costume	costume	PROPN
taxlaw-9799	459	14	co.	co.	PROPN
taxlaw-9799	459	15	,	,	PUNCT
taxlaw-9799	459	16	milwaukee	milwaukee	PROPN
taxlaw-9799	459	17	bus	bus	NOUN
taxlaw-9799	459	18	.	.	PUNCT
taxlaw-9799	460	1	j.	j.	PROPN
taxlaw-9799	460	2	(	(	PUNCT
taxlaw-9799	460	3	july	july	PROPN
taxlaw-9799	460	4	5	5	NUM
taxlaw-9799	460	5	,	,	PUNCT
taxlaw-9799	460	6	2017	2017	NUM
taxlaw-9799	460	7	)	)	PUNCT
taxlaw-9799	460	8	,	,	PUNCT
taxlaw-9799	460	9	https://www.bizjournals.com/milwaukee/news/2017/07/05/buyseasons-acquiredby-rubies-costume-company.html	https://www.bizjournals.com/milwaukee/news/2017/07/05/buyseasons-acquiredby-rubies-costume-company.html	VERB
taxlaw-9799	461	1	[	[	X
taxlaw-9799	461	2	https://perma.cc/mn7h-pkdm	https://perma.cc/mn7h-pkdm	X
taxlaw-9799	461	3	]	]	X
taxlaw-9799	461	4	.	.	PUNCT
taxlaw-9799	461	5	111	111	NUM
taxlaw-9799	461	6	see	see	VERB
taxlaw-9799	461	7	i	i	PROPN
taxlaw-9799	461	8	d.	d.	PROPN
taxlaw-9799	461	9	(	(	PUNCT
taxlaw-9799	461	10	discussing	discuss	VERB
taxlaw-9799	461	11	rubie	rubie	NOUN
taxlaw-9799	461	12	’s	’s	PART
taxlaw-9799	461	13	costume	costume	PROPN
taxlaw-9799	461	14	co.	co.	PROPN
taxlaw-9799	461	15	’s	’s	PART
taxlaw-9799	461	16	acquisition	acquisition	NOUN
taxlaw-9799	461	17	of	of	ADP
taxlaw-9799	461	18	buyseasons	buyseason	NOUN
taxlaw-9799	461	19	)	)	PUNCT
taxlaw-9799	461	20	.	.	PUNCT
taxlaw-9799	462	1	112	112	NUM
taxlaw-9799	462	2	goel	goel	PROPN
taxlaw-9799	462	3	&	&	CCONJ
taxlaw-9799	462	4	de	de	PROPN
taxlaw-9799	462	5	la	la	PROPN
taxlaw-9799	462	6	merced	merced	PROPN
taxlaw-9799	462	7	,	,	PUNCT
taxlaw-9799	462	8	supra	supra	PROPN
taxlaw-9799	462	9	note	note	PROPN
taxlaw-9799	462	10	99	99	NUM
taxlaw-9799	462	11	.	.	NOUN
taxlaw-9799	462	12	2022	2022	NUM
taxlaw-9799	462	13	]	]	PUNCT
taxlaw-9799	462	14	conglomerate	conglomerate	NOUN
taxlaw-9799	462	15	spin	spin	NOUN
taxlaw-9799	462	16	-	-	PUNCT
taxlaw-9799	462	17	offs	off	NOUN
taxlaw-9799	462	18	186	186	NUM
taxlaw-9799	462	19	ad	ad	NOUN
taxlaw-9799	462	20	revenue.113	revenue.113	NOUN
taxlaw-9799	462	21	although	although	SCONJ
taxlaw-9799	462	22	its	its	PRON
taxlaw-9799	462	23	market	market	NOUN
taxlaw-9799	462	24	capitalization	capitalization	NOUN
taxlaw-9799	462	25	soared	soar	VERB
taxlaw-9799	462	26	to	to	ADP
taxlaw-9799	462	27	$	$	SYM
taxlaw-9799	462	28	125	125	NUM
taxlaw-9799	462	29	billion	billion	NUM
taxlaw-9799	462	30	during	during	ADP
taxlaw-9799	462	31	the	the	DET
taxlaw-9799	462	32	dot	dot	NOUN
taxlaw-9799	462	33	-	-	PUNCT
taxlaw-9799	462	34	com	com	NOUN
taxlaw-9799	462	35	bubble	bubble	NOUN
taxlaw-9799	462	36	,	,	PUNCT
taxlaw-9799	462	37	yahoo	yahoo	PROPN
taxlaw-9799	462	38	lost	lose	VERB
taxlaw-9799	462	39	its	its	PRON
taxlaw-9799	462	40	competitive	competitive	ADJ
taxlaw-9799	462	41	edge	edge	NOUN
taxlaw-9799	462	42	to	to	ADP
taxlaw-9799	462	43	google	google	PROPN
taxlaw-9799	462	44	and	and	CCONJ
taxlaw-9799	462	45	facebook	facebook	NOUN
taxlaw-9799	462	46	in	in	ADP
taxlaw-9799	462	47	the	the	DET
taxlaw-9799	462	48	early	early	ADJ
taxlaw-9799	462	49	2000s.114	2000s.114	NUM
taxlaw-9799	462	50	as	as	ADP
taxlaw-9799	462	51	a	a	DET
taxlaw-9799	462	52	result	result	NOUN
taxlaw-9799	462	53	,	,	PUNCT
taxlaw-9799	462	54	yahoo	yahoo	PROPN
taxlaw-9799	462	55	attempted	attempt	VERB
taxlaw-9799	462	56	to	to	PART
taxlaw-9799	462	57	recast	recast	VERB
taxlaw-9799	462	58	itself	itself	PRON
taxlaw-9799	462	59	as	as	ADP
taxlaw-9799	462	60	a	a	DET
taxlaw-9799	462	61	content	content	NOUN
taxlaw-9799	462	62	company	company	NOUN
taxlaw-9799	462	63	,	,	PUNCT
taxlaw-9799	462	64	but	but	CCONJ
taxlaw-9799	462	65	this	this	PRON
taxlaw-9799	462	66	was	be	AUX
taxlaw-9799	462	67	at	at	ADP
taxlaw-9799	462	68	a	a	DET
taxlaw-9799	462	69	time	time	NOUN
taxlaw-9799	462	70	when	when	SCONJ
taxlaw-9799	462	71	users	user	NOUN
taxlaw-9799	462	72	were	be	AUX
taxlaw-9799	462	73	transitioning	transition	VERB
taxlaw-9799	462	74	from	from	ADP
taxlaw-9799	462	75	web	web	NOUN
taxlaw-9799	462	76	portals	portal	NOUN
taxlaw-9799	462	77	to	to	ADP
taxlaw-9799	462	78	apps	app	NOUN
taxlaw-9799	462	79	and	and	CCONJ
taxlaw-9799	462	80	social	social	ADJ
taxlaw-9799	462	81	networks.115	networks.115	PROPN
taxlaw-9799	462	82	in	in	ADP
taxlaw-9799	462	83	2005	2005	NUM
taxlaw-9799	462	84	,	,	PUNCT
taxlaw-9799	462	85	yahoo	yahoo	PROPN
taxlaw-9799	462	86	bought	buy	VERB
taxlaw-9799	462	87	40	40	NUM
taxlaw-9799	462	88	%	%	NOUN
taxlaw-9799	462	89	of	of	ADP
taxlaw-9799	462	90	alibaba	alibaba	PROPN
taxlaw-9799	462	91	holding	holding	PROPN
taxlaw-9799	462	92	ltd	ltd	PROPN
taxlaw-9799	462	93	.	.	PROPN
taxlaw-9799	463	1	(	(	PUNCT
taxlaw-9799	463	2	“	"	PUNCT
taxlaw-9799	463	3	alibaba	alibaba	PROPN
taxlaw-9799	463	4	”	"	PUNCT
taxlaw-9799	463	5	)	)	PUNCT
taxlaw-9799	463	6	,	,	PUNCT
taxlaw-9799	463	7	a	a	DET
taxlaw-9799	463	8	major	major	ADJ
taxlaw-9799	463	9	chinese	chinese	ADJ
taxlaw-9799	463	10	e	e	PROPN
taxlaw-9799	463	11	-	-	PROPN
taxlaw-9799	463	12	commerce	commerce	NOUN
taxlaw-9799	463	13	group	group	NOUN
taxlaw-9799	463	14	,	,	PUNCT
taxlaw-9799	463	15	for	for	ADP
taxlaw-9799	463	16	$	$	SYM
taxlaw-9799	463	17	1	1	NUM
taxlaw-9799	463	18	billion	billion	NUM
taxlaw-9799	463	19	in	in	ADP
taxlaw-9799	463	20	cash	cash	NOUN
taxlaw-9799	463	21	plus	plus	CCONJ
taxlaw-9799	463	22	the	the	DET
taxlaw-9799	463	23	transfer	transfer	NOUN
taxlaw-9799	463	24	of	of	ADP
taxlaw-9799	463	25	yahoo	yahoo	PROPN
taxlaw-9799	463	26	’s	’s	PART
taxlaw-9799	463	27	chinese	chinese	PROPN
taxlaw-9799	463	28	internet	internet	NOUN
taxlaw-9799	463	29	operations	operation	NOUN
taxlaw-9799	463	30	to	to	PART
taxlaw-9799	463	31	alibaba.116	alibaba.116	VERB
taxlaw-9799	463	32	around	around	ADP
taxlaw-9799	463	33	2013	2013	NUM
taxlaw-9799	463	34	,	,	PUNCT
taxlaw-9799	463	35	yahoo	yahoo	PROPN
taxlaw-9799	463	36	began	begin	VERB
taxlaw-9799	463	37	an	an	DET
taxlaw-9799	463	38	acquisition	acquisition	NOUN
taxlaw-9799	463	39	frenzy	frenzy	NOUN
taxlaw-9799	463	40	,	,	PUNCT
taxlaw-9799	463	41	acquiring	acquire	VERB
taxlaw-9799	463	42	dozens	dozen	NOUN
taxlaw-9799	463	43	of	of	ADP
taxlaw-9799	463	44	companies	company	NOUN
taxlaw-9799	463	45	,	,	PUNCT
taxlaw-9799	463	46	including	include	VERB
taxlaw-9799	463	47	tumblr.117	tumblr.117	NOUN
taxlaw-9799	463	48	when	when	SCONJ
taxlaw-9799	463	49	alibaba	alibaba	PROPN
taxlaw-9799	463	50	went	go	VERB
taxlaw-9799	463	51	public	public	ADJ
taxlaw-9799	463	52	in	in	ADP
taxlaw-9799	463	53	2014	2014	NUM
taxlaw-9799	463	54	,	,	PUNCT
taxlaw-9799	463	55	yahoo	yahoo	PROPN
taxlaw-9799	463	56	still	still	ADV
taxlaw-9799	463	57	owned	own	VERB
taxlaw-9799	463	58	a	a	DET
taxlaw-9799	463	59	15	15	NUM
taxlaw-9799	463	60	%	%	NOUN
taxlaw-9799	463	61	stake	stake	NOUN
taxlaw-9799	463	62	in	in	ADP
taxlaw-9799	463	63	the	the	DET
taxlaw-9799	463	64	firm.118	firm.118	VERB
taxlaw-9799	463	65	yahoo	yahoo	NOUN
taxlaw-9799	463	66	also	also	ADV
taxlaw-9799	463	67	owned	own	VERB
taxlaw-9799	463	68	a	a	DET
taxlaw-9799	463	69	35.5	35.5	NUM
taxlaw-9799	463	70	%	%	NOUN
taxlaw-9799	463	71	stake	stake	NOUN
taxlaw-9799	463	72	in	in	ADP
taxlaw-9799	463	73	yahoo	yahoo	PROPN
taxlaw-9799	463	74	japan.119	japan.119	PROPN
taxlaw-9799	463	75	after	after	SCONJ
taxlaw-9799	463	76	alibaba	alibaba	PROPN
taxlaw-9799	463	77	’s	’s	PART
taxlaw-9799	463	78	ipo	ipo	PROPN
taxlaw-9799	463	79	,	,	PUNCT
taxlaw-9799	463	80	activist	activist	ADJ
taxlaw-9799	463	81	shareholder	shareholder	NOUN
taxlaw-9799	463	82	pressure	pressure	NOUN
taxlaw-9799	463	83	mounted	mount	VERB
taxlaw-9799	463	84	for	for	ADP
taxlaw-9799	463	85	yahoo	yahoo	PROPN
taxlaw-9799	463	86	to	to	PART
taxlaw-9799	463	87	design	design	VERB
taxlaw-9799	463	88	a	a	DET
taxlaw-9799	463	89	plan	plan	NOUN
taxlaw-9799	463	90	to	to	PART
taxlaw-9799	463	91	distribute	distribute	VERB
taxlaw-9799	463	92	the	the	DET
taxlaw-9799	463	93	appreciated	appreciated	ADJ
taxlaw-9799	463	94	shares	share	NOUN
taxlaw-9799	463	95	of	of	ADP
taxlaw-9799	463	96	alibaba	alibaba	PROPN
taxlaw-9799	463	97	to	to	ADP
taxlaw-9799	463	98	yahoo	yahoo	PROPN
taxlaw-9799	463	99	’s	’s	PART
taxlaw-9799	463	100	shareholders	shareholder	NOUN
taxlaw-9799	463	101	.	.	PUNCT
taxlaw-9799	464	1	rather	rather	ADV
taxlaw-9799	464	2	than	than	ADP
taxlaw-9799	464	3	disposing	dispose	VERB
taxlaw-9799	464	4	of	of	ADP
taxlaw-9799	464	5	the	the	DET
taxlaw-9799	464	6	shares	share	NOUN
taxlaw-9799	464	7	outright	outright	ADV
taxlaw-9799	464	8	,	,	PUNCT
taxlaw-9799	465	1	which	which	PRON
taxlaw-9799	465	2	would	would	AUX
taxlaw-9799	465	3	have	have	AUX
taxlaw-9799	465	4	triggered	trigger	VERB
taxlaw-9799	465	5	a	a	DET
taxlaw-9799	465	6	large	large	ADJ
taxlaw-9799	465	7	corporate	corporate	ADJ
taxlaw-9799	465	8	-	-	PUNCT
taxlaw-9799	465	9	level	level	NOUN
taxlaw-9799	465	10	tax	tax	NOUN
taxlaw-9799	465	11	and	and	CCONJ
taxlaw-9799	465	12	would	would	AUX
taxlaw-9799	465	13	have	have	AUX
taxlaw-9799	465	14	required	require	VERB
taxlaw-9799	465	15	that	that	SCONJ
taxlaw-9799	465	16	yahoo	yahoo	PROPN
taxlaw-9799	465	17	’s	’s	PART
taxlaw-9799	465	18	shareholders	shareholder	NOUN
taxlaw-9799	465	19	pay	pay	VERB
taxlaw-9799	465	20	some	some	DET
taxlaw-9799	465	21	$	$	SYM
taxlaw-9799	465	22	10	10	NUM
taxlaw-9799	465	23	billion	billion	NUM
taxlaw-9799	465	24	in	in	ADP
taxlaw-9799	465	25	capital	capital	NOUN
taxlaw-9799	465	26	gains	gain	NOUN
taxlaw-9799	465	27	taxes,120	taxes,120	PRON
taxlaw-9799	465	28	yahoo	yahoo	PROPN
taxlaw-9799	465	29	hoped	hope	VERB
taxlaw-9799	465	30	to	to	PART
taxlaw-9799	465	31	craft	craft	VERB
taxlaw-9799	465	32	a	a	DET
taxlaw-9799	465	33	tax	tax	NOUN
taxlaw-9799	465	34	-	-	PUNCT
taxlaw-9799	465	35	free	free	ADJ
taxlaw-9799	465	36	spin	spin	NOUN
taxlaw-9799	465	37	-	-	PUNCT
taxlaw-9799	465	38	off	off	NOUN
taxlaw-9799	465	39	of	of	ADP
taxlaw-9799	465	40	its	its	PRON
taxlaw-9799	465	41	alibaba	alibaba	NOUN
taxlaw-9799	465	42	stake	stake	NOUN
taxlaw-9799	465	43	that	that	PRON
taxlaw-9799	465	44	would	would	AUX
taxlaw-9799	465	45	enable	enable	VERB
taxlaw-9799	465	46	yahoo	yahoo	PROPN
taxlaw-9799	465	47	to	to	PART
taxlaw-9799	465	48	avoid	avoid	VERB
taxlaw-9799	465	49	over	over	ADP
taxlaw-9799	465	50	$	$	SYM
taxlaw-9799	465	51	16	16	NUM
taxlaw-9799	465	52	billion	billion	NUM
taxlaw-9799	465	53	in	in	ADP
taxlaw-9799	465	54	tax	tax	NOUN
taxlaw-9799	465	55	liability.121	liability.121	ADV
taxlaw-9799	465	56	following	follow	VERB
taxlaw-9799	465	57	the	the	DET
taxlaw-9799	465	58	i.r.s	i.r.	NOUN
taxlaw-9799	465	59	.	.	PUNCT
taxlaw-9799	465	60	’s	’s	PART
taxlaw-9799	465	61	approval	approval	NOUN
taxlaw-9799	465	62	of	of	ADP
taxlaw-9799	465	63	liberty	liberty	NOUN
taxlaw-9799	465	64	’s	’s	PART
taxlaw-9799	465	65	spin	spin	NOUN
taxlaw-9799	465	66	-	-	PUNCT
taxlaw-9799	465	67	off	off	NOUN
taxlaw-9799	465	68	of	of	ADP
taxlaw-9799	465	69	tripadvisor	tripadvisor	NOUN
taxlaw-9799	465	70	,	,	PUNCT
taxlaw-9799	465	71	yahoo	yahoo	PROPN
taxlaw-9799	465	72	decided	decide	VERB
taxlaw-9799	465	73	to	to	PART
taxlaw-9799	465	74	pursue	pursue	VERB
taxlaw-9799	465	75	a	a	DET
taxlaw-9799	465	76	similar	similar	ADJ
taxlaw-9799	465	77	spin	spin	NOUN
taxlaw-9799	465	78	-	-	PUNCT
taxlaw-9799	465	79	off	off	ADP
taxlaw-9799	465	80	strategy.122	strategy.122	PROPN
taxlaw-9799	465	81	yahoo	yahoo	PROPN
taxlaw-9799	465	82	wished	wish	VERB
taxlaw-9799	465	83	to	to	PART
taxlaw-9799	465	84	extract	extract	VERB
taxlaw-9799	465	85	its	its	PRON
taxlaw-9799	465	86	15	15	NUM
taxlaw-9799	465	87	%	%	NOUN
taxlaw-9799	465	88	interest	interest	NOUN
taxlaw-9799	465	89	in	in	ADP
taxlaw-9799	465	90	alibaba	alibaba	PROPN
taxlaw-9799	465	91	to	to	PART
taxlaw-9799	465	92	enable	enable	VERB
taxlaw-9799	465	93	markets	market	NOUN
taxlaw-9799	465	94	to	to	PART
taxlaw-9799	465	95	value	value	VERB
taxlaw-9799	465	96	yahoo	yahoo	PROPN
taxlaw-9799	465	97	’s	’s	PART
taxlaw-9799	465	98	core	core	PROPN
taxlaw-9799	465	99	internet	internet	NOUN
taxlaw-9799	465	100	business	business	NOUN
taxlaw-9799	465	101	independently	independently	ADV
taxlaw-9799	465	102	of	of	ADP
taxlaw-9799	465	103	its	its	PRON
taxlaw-9799	465	104	alibaba	alibaba	PROPN
taxlaw-9799	465	105	holdings	holding	NOUN
taxlaw-9799	465	106	.	.	PUNCT
taxlaw-9799	466	1	if	if	SCONJ
taxlaw-9799	466	2	the	the	DET
taxlaw-9799	466	3	initial	initial	ADJ
taxlaw-9799	466	4	spin	spin	NOUN
taxlaw-9799	466	5	-	-	PUNCT
taxlaw-9799	466	6	off	off	NOUN
taxlaw-9799	466	7	was	be	AUX
taxlaw-9799	466	8	successful	successful	ADJ
taxlaw-9799	466	9	,	,	PUNCT
taxlaw-9799	466	10	yahoo	yahoo	PROPN
taxlaw-9799	466	11	contemplated	contemplate	VERB
taxlaw-9799	466	12	a	a	DET
taxlaw-9799	466	13	subsequent	subsequent	ADJ
taxlaw-9799	466	14	,	,	PUNCT
taxlaw-9799	466	15	similar	similar	ADJ
taxlaw-9799	466	16	tax	tax	NOUN
taxlaw-9799	466	17	-	-	PUNCT
taxlaw-9799	466	18	free	free	ADJ
taxlaw-9799	466	19	spin	spin	NOUN
taxlaw-9799	466	20	-	-	PUNCT
taxlaw-9799	466	21	off	off	NOUN
taxlaw-9799	466	22	of	of	ADP
taxlaw-9799	466	23	its	its	PRON
taxlaw-9799	466	24	35.5	35.5	NUM
taxlaw-9799	466	25	%	%	NOUN
taxlaw-9799	466	26	stake	stake	NOUN
taxlaw-9799	466	27	in	in	ADP
taxlaw-9799	466	28	yahoo	yahoo	PROPN
taxlaw-9799	466	29	japan	japan	PROPN
taxlaw-9799	466	30	.	.	PUNCT
taxlaw-9799	467	1	therefore	therefore	ADV
taxlaw-9799	467	2	,	,	PUNCT
taxlaw-9799	467	3	yahoo	yahoo	PROPN
taxlaw-9799	467	4	had	have	VERB
taxlaw-9799	467	5	valid	valid	ADJ
taxlaw-9799	467	6	business	business	NOUN
taxlaw-9799	467	7	reasons	reason	NOUN
taxlaw-9799	467	8	for	for	ADP
taxlaw-9799	467	9	spinning	spin	VERB
taxlaw-9799	467	10	off	off	ADP
taxlaw-9799	467	11	the	the	DET
taxlaw-9799	467	12	alibaba	alibaba	PROPN
taxlaw-9799	467	13	shares	share	NOUN
taxlaw-9799	467	14	and	and	CCONJ
taxlaw-9799	467	15	thus	thus	ADV
taxlaw-9799	467	16	would	would	AUX
taxlaw-9799	467	17	have	have	VERB
taxlaw-9799	467	18	little	little	ADJ
taxlaw-9799	467	19	trouble	trouble	NOUN
taxlaw-9799	467	20	satisfying	satisfy	VERB
taxlaw-9799	467	21	the	the	DET
taxlaw-9799	467	22	corporate	corporate	ADJ
taxlaw-9799	467	23	business	business	NOUN
taxlaw-9799	467	24	purpose	purpose	NOUN
taxlaw-9799	467	25	requirement	requirement	NOUN
taxlaw-9799	467	26	.	.	PUNCT
taxlaw-9799	468	1	like	like	ADP
taxlaw-9799	468	2	liberty	liberty	NOUN
taxlaw-9799	468	3	,	,	PUNCT
taxlaw-9799	468	4	yahoo	yahoo	PROPN
taxlaw-9799	468	5	believed	believe	VERB
taxlaw-9799	468	6	that	that	SCONJ
taxlaw-9799	468	7	the	the	DET
taxlaw-9799	468	8	separation	separation	NOUN
taxlaw-9799	468	9	of	of	ADP
taxlaw-9799	468	10	yahoo	yahoo	PROPN
taxlaw-9799	468	11	’s	’s	PART
taxlaw-9799	468	12	core	core	PROPN
taxlaw-9799	468	13	internet	internet	NOUN
taxlaw-9799	468	14	business	business	NOUN
taxlaw-9799	468	15	from	from	ADP
taxlaw-9799	468	16	the	the	DET
taxlaw-9799	468	17	massively	massively	ADV
taxlaw-9799	468	18	appreciated	appreciated	ADJ
taxlaw-9799	468	19	shares	share	NOUN
taxlaw-9799	468	20	of	of	ADP
taxlaw-9799	468	21	alibaba	alibaba	PROPN
taxlaw-9799	468	22	would	would	AUX
taxlaw-9799	468	23	enable	enable	VERB
taxlaw-9799	468	24	markets	market	NOUN
taxlaw-9799	468	25	to	to	PART
taxlaw-9799	468	26	value	value	VERB
taxlaw-9799	468	27	yahoo	yahoo	PROPN
taxlaw-9799	468	28	’s	’s	PART
taxlaw-9799	468	29	core	core	NOUN
taxlaw-9799	468	30	operations	operation	NOUN
taxlaw-9799	468	31	independently	independently	ADV
taxlaw-9799	468	32	and	and	CCONJ
taxlaw-9799	468	33	that	that	SCONJ
taxlaw-9799	468	34	yahoo	yahoo	PROPN
taxlaw-9799	468	35	would	would	AUX
taxlaw-9799	468	36	trade	trade	VERB
taxlaw-9799	468	37	at	at	ADP
taxlaw-9799	468	38	a	a	DET
taxlaw-9799	468	39	higher	high	ADJ
taxlaw-9799	468	40	price	price	NOUN
taxlaw-9799	468	41	as	as	ADP
taxlaw-9799	468	42	a	a	DET
taxlaw-9799	468	43	result	result	NOUN
taxlaw-9799	468	44	of	of	ADP
taxlaw-9799	468	45	the	the	DET
taxlaw-9799	468	46	spin	spin	NOUN
taxlaw-9799	468	47	-	-	PUNCT
taxlaw-9799	468	48	off	off	NOUN
taxlaw-9799	468	49	.	.	PUNCT
taxlaw-9799	469	1	nevertheless	nevertheless	ADV
taxlaw-9799	469	2	,	,	PUNCT
taxlaw-9799	469	3	yahoo	yahoo	PROPN
taxlaw-9799	469	4	could	could	AUX
taxlaw-9799	469	5	not	not	PART
taxlaw-9799	469	6	spin	spin	VERB
taxlaw-9799	469	7	off	off	ADP
taxlaw-9799	469	8	alibaba	alibaba	PROPN
taxlaw-9799	469	9	alone	alone	ADV
taxlaw-9799	469	10	because	because	SCONJ
taxlaw-9799	469	11	it	it	PRON
taxlaw-9799	469	12	lacked	lack	VERB
taxlaw-9799	469	13	sufficient	sufficient	ADJ
taxlaw-9799	469	14	ownership	ownership	NOUN
taxlaw-9799	469	15	to	to	PART
taxlaw-9799	469	16	satisfy	satisfy	VERB
taxlaw-9799	469	17	the	the	DET
taxlaw-9799	469	18	distribution	distribution	NOUN
taxlaw-9799	469	19	of	of	ADP
taxlaw-9799	469	20	control	control	NOUN
taxlaw-9799	469	21	requirement	requirement	NOUN
taxlaw-9799	469	22	.	.	PUNCT
taxlaw-9799	470	1	therefore	therefore	ADV
taxlaw-9799	470	2	,	,	PUNCT
taxlaw-9799	470	3	yahoo	yahoo	PROPN
taxlaw-9799	470	4	had	have	VERB
taxlaw-9799	470	5	to	to	PART
taxlaw-9799	470	6	include	include	VERB
taxlaw-9799	470	7	another	another	DET
taxlaw-9799	470	8	business	business	NOUN
taxlaw-9799	470	9	within	within	ADP
taxlaw-9799	470	10	spinco	spinco	NOUN
taxlaw-9799	470	11	to	to	PART
taxlaw-9799	470	12	satisfy	satisfy	VERB
taxlaw-9799	470	13	the	the	DET
taxlaw-9799	470	14	control	control	NOUN
taxlaw-9799	470	15	test	test	NOUN
taxlaw-9799	470	16	,	,	PUNCT
taxlaw-9799	470	17	as	as	ADV
taxlaw-9799	470	18	well	well	ADV
taxlaw-9799	470	19	as	as	ADP
taxlaw-9799	470	20	the	the	DET
taxlaw-9799	470	21	active	active	ADJ
taxlaw-9799	470	22	trade	trade	NOUN
taxlaw-9799	470	23	or	or	CCONJ
taxlaw-9799	470	24	business	business	NOUN
taxlaw-9799	470	25	requirement	requirement	NOUN
taxlaw-9799	470	26	.	.	PUNCT
taxlaw-9799	471	1	according	accord	VERB
taxlaw-9799	471	2	to	to	ADP
taxlaw-9799	471	3	estimates	estimate	NOUN
taxlaw-9799	471	4	by	by	ADP
taxlaw-9799	471	5	analysts	analyst	NOUN
taxlaw-9799	471	6	at	at	ADP
taxlaw-9799	471	7	the	the	DET
taxlaw-9799	471	8	time	time	NOUN
taxlaw-9799	471	9	,	,	PUNCT
taxlaw-9799	471	10	if	if	SCONJ
taxlaw-9799	471	11	yahoo	yahoo	PROPN
taxlaw-9799	471	12	’s	’s	PART
taxlaw-9799	471	13	disposition	disposition	NOUN
taxlaw-9799	471	14	of	of	ADP
taxlaw-9799	471	15	alibaba	alibaba	PROPN
taxlaw-9799	471	16	were	be	AUX
taxlaw-9799	471	17	taxed	tax	VERB
taxlaw-9799	471	18	,	,	PUNCT
taxlaw-9799	471	19	yahoo	yahoo	PROPN
taxlaw-9799	471	20	’s	’s	PART
taxlaw-9799	471	21	stock	stock	NOUN
taxlaw-9799	471	22	was	be	AUX
taxlaw-9799	471	23	expected	expect	VERB
taxlaw-9799	471	24	to	to	PART
taxlaw-9799	471	25	have	have	VERB
taxlaw-9799	471	26	a	a	DET
taxlaw-9799	471	27	fair	fair	ADJ
taxlaw-9799	471	28	market	market	NOUN
taxlaw-9799	471	29	value	value	NOUN
taxlaw-9799	471	30	of	of	ADP
taxlaw-9799	471	31	$	$	SYM
taxlaw-9799	471	32	40	40	NUM
taxlaw-9799	471	33	per	per	ADP
taxlaw-9799	471	34	share.123	share.123	NOUN
taxlaw-9799	471	35	on	on	ADP
taxlaw-9799	471	36	the	the	DET
taxlaw-9799	471	37	other	other	ADJ
taxlaw-9799	471	38	hand	hand	NOUN
taxlaw-9799	471	39	,	,	PUNCT
taxlaw-9799	471	40	a	a	DET
taxlaw-9799	471	41	tax	tax	NOUN
taxlaw-9799	471	42	-	-	PUNCT
taxlaw-9799	471	43	free	free	ADJ
taxlaw-9799	471	44	spin	spin	NOUN
taxlaw-9799	471	45	-	-	PUNCT
taxlaw-9799	471	46	off	off	NOUN
taxlaw-9799	471	47	would	would	AUX
taxlaw-9799	471	48	place	place	VERB
taxlaw-9799	471	49	the	the	DET
taxlaw-9799	471	50	yahoo	yahoo	PROPN
taxlaw-9799	471	51	shares	share	NOUN
taxlaw-9799	471	52	closer	close	ADV
taxlaw-9799	471	53	to	to	ADP
taxlaw-9799	471	54	$	$	SYM
taxlaw-9799	471	55	55	55	NUM
taxlaw-9799	471	56	per	per	ADP
taxlaw-9799	471	57	share.124	share.124	NOUN
taxlaw-9799	471	58	moreover	moreover	ADV
taxlaw-9799	471	59	,	,	PUNCT
taxlaw-9799	471	60	like	like	ADP
taxlaw-9799	471	61	liberty	liberty	NOUN
taxlaw-9799	471	62	,	,	PUNCT
taxlaw-9799	471	63	yahoo	yahoo	PROPN
taxlaw-9799	471	64	was	be	AUX
taxlaw-9799	471	65	113	113	NUM
taxlaw-9799	471	66	i	i	PROPN
taxlaw-9799	471	67	d.	d.	PROPN
taxlaw-9799	471	68	114	114	NUM
taxlaw-9799	472	1	i	i	PROPN
taxlaw-9799	472	2	d.	d.	PROPN
taxlaw-9799	472	3	115	115	PROPN
taxlaw-9799	473	1	i	i	PRON
taxlaw-9799	473	2	d.	d.	PROPN
taxlaw-9799	473	3	116	116	NUM
taxlaw-9799	474	1	i	i	PRON
taxlaw-9799	474	2	d.	d.	PROPN
taxlaw-9799	474	3	117	117	NUM
taxlaw-9799	475	1	i	i	PROPN
taxlaw-9799	475	2	d.	d.	PROPN
taxlaw-9799	475	3	118	118	NUM
taxlaw-9799	476	1	i	i	PROPN
taxlaw-9799	476	2	d.	d.	PROPN
taxlaw-9799	476	3	119	119	NUM
taxlaw-9799	477	1	i	i	PRON
taxlaw-9799	477	2	d.	d.	PROPN
taxlaw-9799	477	3	120	120	NUM
taxlaw-9799	477	4	see	see	VERB
taxlaw-9799	477	5	young	young	ADJ
taxlaw-9799	477	6	ran	ran	NOUN
taxlaw-9799	477	7	(	(	PUNCT
taxlaw-9799	477	8	christine	christine	PROPN
taxlaw-9799	477	9	)	)	PUNCT
taxlaw-9799	477	10	kim	kim	PROPN
taxlaw-9799	477	11	&	&	CCONJ
taxlaw-9799	477	12	geeyoung	geeyoung	PROPN
taxlaw-9799	477	13	min	min	PROPN
taxlaw-9799	477	14	,	,	PUNCT
taxlaw-9799	477	15	insulation	insulation	NOUN
taxlaw-9799	477	16	by	by	ADP
taxlaw-9799	477	17	separation	separation	NOUN
taxlaw-9799	477	18	:	:	PUNCT
taxlaw-9799	477	19	when	when	SCONJ
taxlaw-9799	477	20	dual	dual	ADJ
taxlaw-9799	477	21	-	-	PUNCT
taxlaw-9799	477	22	class	class	NOUN
taxlaw-9799	477	23	stock	stock	NOUN
taxlaw-9799	477	24	met	meet	VERB
taxlaw-9799	477	25	corporate	corporate	ADJ
taxlaw-9799	477	26	spin	spin	NOUN
taxlaw-9799	477	27	-	-	PUNCT
taxlaw-9799	477	28	offs	off	NOUN
taxlaw-9799	477	29	,	,	PUNCT
taxlaw-9799	477	30	10	10	NUM
taxlaw-9799	477	31	u.c	u.c	PROPN
taxlaw-9799	477	32	.	.	PROPN
taxlaw-9799	477	33	irvine	irvine	PROPN
taxlaw-9799	477	34	l.	l.	PROPN
taxlaw-9799	477	35	rev	rev	PROPN
taxlaw-9799	477	36	.	.	PROPN
taxlaw-9799	477	37	1	1	NUM
taxlaw-9799	477	38	,	,	PUNCT
taxlaw-9799	477	39	16	16	NUM
taxlaw-9799	477	40	-	-	SYM
taxlaw-9799	477	41	17	17	NUM
taxlaw-9799	477	42	(	(	PUNCT
taxlaw-9799	477	43	2019	2019	NUM
taxlaw-9799	477	44	)	)	PUNCT
taxlaw-9799	477	45	.	.	PUNCT
taxlaw-9799	478	1	121	121	NUM
taxlaw-9799	478	2	see	see	VERB
taxlaw-9799	478	3	joshua	joshua	PROPN
taxlaw-9799	478	4	d.	d.	PROPN
taxlaw-9799	478	5	blank	blank	PROPN
taxlaw-9799	478	6	,	,	PUNCT
taxlaw-9799	478	7	the	the	DET
taxlaw-9799	478	8	timing	timing	NOUN
taxlaw-9799	478	9	of	of	ADP
taxlaw-9799	478	10	tax	tax	NOUN
taxlaw-9799	478	11	transparency	transparency	NOUN
taxlaw-9799	478	12	,	,	PUNCT
taxlaw-9799	478	13	90	90	NUM
taxlaw-9799	478	14	s.	s.	PROPN
taxlaw-9799	478	15	cal	cal	PROPN
taxlaw-9799	478	16	.	.	PUNCT
taxlaw-9799	479	1	l.	l.	PROPN
taxlaw-9799	479	2	rev	rev	PROPN
taxlaw-9799	479	3	.	.	PROPN
taxlaw-9799	479	4	449	449	NUM
taxlaw-9799	479	5	,	,	PUNCT
taxlaw-9799	479	6	485	485	NUM
taxlaw-9799	479	7	-	-	SYM
taxlaw-9799	479	8	86	86	NUM
taxlaw-9799	479	9	(	(	PUNCT
taxlaw-9799	479	10	2017	2017	NUM
taxlaw-9799	479	11	)	)	PUNCT
taxlaw-9799	479	12	.	.	PUNCT
taxlaw-9799	480	1	122	122	NUM
taxlaw-9799	481	1	i	i	PRON
taxlaw-9799	481	2	d.	d.	PROPN
taxlaw-9799	481	3	at	at	ADP
taxlaw-9799	481	4	490	490	NUM
taxlaw-9799	481	5	.	.	NOUN
taxlaw-9799	481	6	123	123	NUM
taxlaw-9799	481	7	see	see	VERB
taxlaw-9799	481	8	goel	goel	PROPN
taxlaw-9799	481	9	&	&	CCONJ
taxlaw-9799	481	10	de	de	PROPN
taxlaw-9799	481	11	la	la	PROPN
taxlaw-9799	481	12	merced	merced	PROPN
taxlaw-9799	481	13	,	,	PUNCT
taxlaw-9799	481	14	supra	supra	PROPN
taxlaw-9799	481	15	note	note	PROPN
taxlaw-9799	481	16	99	99	NUM
taxlaw-9799	481	17	.	.	PUNCT
taxlaw-9799	481	18	124	124	NUM
taxlaw-9799	482	1	i	i	PROPN
taxlaw-9799	482	2	d.	d.	PROPN
taxlaw-9799	482	3	187	187	NUM
taxlaw-9799	482	4	columbia	columbia	PROPN
taxlaw-9799	482	5	journal	journal	PROPN
taxlaw-9799	482	6	of	of	ADP
taxlaw-9799	482	7	tax	tax	NOUN
taxlaw-9799	482	8	law	law	NOUN
taxlaw-9799	483	1	[	[	X
taxlaw-9799	483	2	vol	vol	NOUN
taxlaw-9799	483	3	:	:	PUNCT
taxlaw-9799	483	4	13:2	13:2	NUM
taxlaw-9799	483	5	also	also	ADV
taxlaw-9799	483	6	interested	interested	ADJ
taxlaw-9799	483	7	in	in	ADP
taxlaw-9799	483	8	facilitating	facilitate	VERB
taxlaw-9799	483	9	an	an	DET
taxlaw-9799	483	10	acquisition	acquisition	NOUN
taxlaw-9799	483	11	of	of	ADP
taxlaw-9799	483	12	the	the	DET
taxlaw-9799	483	13	small	small	ADJ
taxlaw-9799	483	14	business	business	NOUN
taxlaw-9799	483	15	unit	unit	NOUN
taxlaw-9799	483	16	it	it	PRON
taxlaw-9799	483	17	would	would	AUX
taxlaw-9799	483	18	spin	spin	VERB
taxlaw-9799	483	19	off	off	ADP
taxlaw-9799	483	20	together	together	ADV
taxlaw-9799	483	21	with	with	ADP
taxlaw-9799	483	22	the	the	DET
taxlaw-9799	483	23	shares.125	shares.125	NUM
taxlaw-9799	483	24	yahoo	yahoo	PROPN
taxlaw-9799	483	25	’s	’s	PART
taxlaw-9799	483	26	tax	tax	NOUN
taxlaw-9799	483	27	counsel	counsel	NOUN
taxlaw-9799	483	28	,	,	PUNCT
taxlaw-9799	483	29	skadden	skadden	ADJ
taxlaw-9799	483	30	,	,	PUNCT
taxlaw-9799	483	31	developed	develop	VERB
taxlaw-9799	483	32	the	the	DET
taxlaw-9799	483	33	following	follow	VERB
taxlaw-9799	483	34	plan	plan	NOUN
taxlaw-9799	483	35	.	.	PUNCT
taxlaw-9799	484	1	first	first	ADV
taxlaw-9799	484	2	,	,	PUNCT
taxlaw-9799	484	3	yahoo	yahoo	PROPN
taxlaw-9799	484	4	would	would	AUX
taxlaw-9799	484	5	create	create	VERB
taxlaw-9799	484	6	a	a	DET
taxlaw-9799	484	7	spinco	spinco	NOUN
taxlaw-9799	484	8	called	call	VERB
taxlaw-9799	484	9	aabaco	aabaco	PROPN
taxlaw-9799	484	10	to	to	PART
taxlaw-9799	484	11	which	which	PRON
taxlaw-9799	484	12	it	it	PRON
taxlaw-9799	484	13	would	would	AUX
taxlaw-9799	484	14	convey	convey	VERB
taxlaw-9799	484	15	all	all	PRON
taxlaw-9799	484	16	of	of	ADP
taxlaw-9799	484	17	its	its	PRON
taxlaw-9799	484	18	384	384	NUM
taxlaw-9799	484	19	million	million	NUM
taxlaw-9799	484	20	alibaba	alibaba	NOUN
taxlaw-9799	484	21	shares	share	NOUN
taxlaw-9799	484	22	,	,	PUNCT
taxlaw-9799	484	23	which	which	PRON
taxlaw-9799	484	24	were	be	AUX
taxlaw-9799	484	25	valued	value	VERB
taxlaw-9799	484	26	at	at	ADP
taxlaw-9799	484	27	$	$	SYM
taxlaw-9799	484	28	40	40	NUM
taxlaw-9799	484	29	billion.126	billion.126	NOUN
taxlaw-9799	484	30	together	together	ADV
taxlaw-9799	484	31	with	with	ADP
taxlaw-9799	484	32	the	the	DET
taxlaw-9799	484	33	large	large	ADJ
taxlaw-9799	484	34	stake	stake	NOUN
taxlaw-9799	484	35	in	in	ADP
taxlaw-9799	484	36	alibaba	alibaba	PROPN
taxlaw-9799	484	37	,	,	PUNCT
taxlaw-9799	484	38	yahoo	yahoo	PROPN
taxlaw-9799	484	39	would	would	AUX
taxlaw-9799	484	40	tack	tack	VERB
taxlaw-9799	484	41	on	on	ADP
taxlaw-9799	484	42	a	a	DET
taxlaw-9799	484	43	legacy	legacy	NOUN
taxlaw-9799	484	44	ancillary	ancillary	ADJ
taxlaw-9799	484	45	small	small	ADJ
taxlaw-9799	484	46	business	business	NOUN
taxlaw-9799	484	47	,	,	PUNCT
taxlaw-9799	484	48	yahoo	yahoo	PROPN
taxlaw-9799	484	49	small	small	ADJ
taxlaw-9799	484	50	business	business	NOUN
taxlaw-9799	484	51	,	,	PUNCT
taxlaw-9799	484	52	to	to	PART
taxlaw-9799	484	53	fulfill	fulfill	VERB
taxlaw-9799	484	54	the	the	DET
taxlaw-9799	484	55	control	control	NOUN
taxlaw-9799	484	56	and	and	CCONJ
taxlaw-9799	484	57	active	active	ADJ
taxlaw-9799	484	58	trade	trade	NOUN
taxlaw-9799	484	59	or	or	CCONJ
taxlaw-9799	484	60	business	business	NOUN
taxlaw-9799	484	61	requirements.127	requirements.127	PROPN
taxlaw-9799	484	62	yahoo	yahoo	PROPN
taxlaw-9799	484	63	small	small	ADJ
taxlaw-9799	484	64	business	business	NOUN
taxlaw-9799	484	65	was	be	AUX
taxlaw-9799	484	66	an	an	DET
taxlaw-9799	484	67	operating	operating	NOUN
taxlaw-9799	484	68	unit	unit	NOUN
taxlaw-9799	484	69	that	that	PRON
taxlaw-9799	484	70	,	,	PUNCT
taxlaw-9799	484	71	although	although	SCONJ
taxlaw-9799	484	72	profitable	profitable	ADJ
taxlaw-9799	484	73	,	,	PUNCT
taxlaw-9799	484	74	never	never	ADV
taxlaw-9799	484	75	fit	fit	ADJ
taxlaw-9799	484	76	in	in	ADP
taxlaw-9799	484	77	well	well	ADV
taxlaw-9799	484	78	with	with	ADP
taxlaw-9799	484	79	the	the	DET
taxlaw-9799	484	80	rest	rest	NOUN
taxlaw-9799	484	81	of	of	ADP
taxlaw-9799	484	82	yahoo	yahoo	PROPN
taxlaw-9799	484	83	’s	’s	PART
taxlaw-9799	484	84	portfolio	portfolio	NOUN
taxlaw-9799	484	85	of	of	ADP
taxlaw-9799	484	86	businesses.128	businesses.128	NOUN
taxlaw-9799	484	87	because	because	SCONJ
taxlaw-9799	484	88	yahoo	yahoo	PROPN
taxlaw-9799	484	89	had	have	AUX
taxlaw-9799	484	90	operated	operate	VERB
taxlaw-9799	484	91	the	the	DET
taxlaw-9799	484	92	small	small	ADJ
taxlaw-9799	484	93	legacy	legacy	NOUN
taxlaw-9799	484	94	business	business	NOUN
taxlaw-9799	484	95	for	for	ADP
taxlaw-9799	484	96	more	more	ADJ
taxlaw-9799	484	97	than	than	ADP
taxlaw-9799	484	98	five	five	NUM
taxlaw-9799	484	99	years	year	NOUN
taxlaw-9799	484	100	,	,	PUNCT
taxlaw-9799	484	101	yahoo	yahoo	PROPN
taxlaw-9799	484	102	’s	’s	PART
taxlaw-9799	484	103	counsel	counsel	NOUN
taxlaw-9799	484	104	expected	expect	VERB
taxlaw-9799	484	105	it	it	PRON
taxlaw-9799	484	106	to	to	PART
taxlaw-9799	484	107	satisfy	satisfy	VERB
taxlaw-9799	484	108	the	the	DET
taxlaw-9799	484	109	active	active	ADJ
taxlaw-9799	484	110	trade	trade	NOUN
taxlaw-9799	484	111	or	or	CCONJ
taxlaw-9799	484	112	business	business	NOUN
taxlaw-9799	484	113	requirement	requirement	NOUN
taxlaw-9799	484	114	.	.	PUNCT
taxlaw-9799	485	1	yahoo	yahoo	PROPN
taxlaw-9799	485	2	felt	feel	VERB
taxlaw-9799	485	3	confident	confident	ADJ
taxlaw-9799	485	4	in	in	ADP
taxlaw-9799	485	5	its	its	PRON
taxlaw-9799	485	6	strategy	strategy	NOUN
taxlaw-9799	485	7	because	because	SCONJ
taxlaw-9799	485	8	the	the	DET
taxlaw-9799	485	9	i.r.s	i.r.	NOUN
taxlaw-9799	485	10	.	.	PUNCT
taxlaw-9799	486	1	had	have	AUX
taxlaw-9799	486	2	approved	approve	VERB
taxlaw-9799	486	3	liberty	liberty	NOUN
taxlaw-9799	486	4	’s	’s	PART
taxlaw-9799	486	5	2014	2014	NUM
taxlaw-9799	486	6	spin	spin	NOUN
taxlaw-9799	486	7	-	-	PUNCT
taxlaw-9799	486	8	off	off	NOUN
taxlaw-9799	486	9	.	.	PUNCT
taxlaw-9799	487	1	moreover	moreover	ADV
taxlaw-9799	487	2	,	,	PUNCT
taxlaw-9799	487	3	despite	despite	SCONJ
taxlaw-9799	487	4	statements	statement	NOUN
taxlaw-9799	487	5	in	in	ADP
taxlaw-9799	487	6	revenue	revenue	NOUN
taxlaw-9799	487	7	procedures	procedure	NOUN
taxlaw-9799	487	8	that	that	PRON
taxlaw-9799	487	9	the	the	DET
taxlaw-9799	487	10	active	active	ADJ
taxlaw-9799	487	11	trade	trade	NOUN
taxlaw-9799	487	12	or	or	CCONJ
taxlaw-9799	487	13	business	business	NOUN
taxlaw-9799	487	14	should	should	AUX
taxlaw-9799	487	15	represent	represent	VERB
taxlaw-9799	487	16	at	at	ADV
taxlaw-9799	487	17	least	least	ADV
taxlaw-9799	487	18	5	5	NUM
taxlaw-9799	487	19	%	%	NOUN
taxlaw-9799	487	20	of	of	ADP
taxlaw-9799	487	21	the	the	DET
taxlaw-9799	487	22	total	total	ADJ
taxlaw-9799	487	23	assets	asset	NOUN
taxlaw-9799	487	24	of	of	ADP
taxlaw-9799	487	25	the	the	DET
taxlaw-9799	487	26	distributing	distribute	VERB
taxlaw-9799	487	27	corporation	corporation	NOUN
taxlaw-9799	487	28	and	and	CCONJ
taxlaw-9799	487	29	the	the	DET
taxlaw-9799	487	30	distributed	distribute	VERB
taxlaw-9799	487	31	corporation	corporation	NOUN
taxlaw-9799	487	32	to	to	PART
taxlaw-9799	487	33	satisfy	satisfy	VERB
taxlaw-9799	487	34	section	section	NOUN
taxlaw-9799	487	35	355	355	NUM
taxlaw-9799	487	36	,	,	PUNCT
taxlaw-9799	487	37	revenue	revenue	NOUN
taxlaw-9799	487	38	ruling	rule	VERB
taxlaw-9799	487	39	73–44	73–44	NUM
taxlaw-9799	487	40	has	have	AUX
taxlaw-9799	487	41	expressed	express	VERB
taxlaw-9799	487	42	that	that	SCONJ
taxlaw-9799	487	43	the	the	DET
taxlaw-9799	487	44	size	size	NOUN
taxlaw-9799	487	45	of	of	ADP
taxlaw-9799	487	46	the	the	DET
taxlaw-9799	487	47	active	active	ADJ
taxlaw-9799	487	48	business	business	NOUN
taxlaw-9799	487	49	was	be	AUX
taxlaw-9799	487	50	immaterial.129	immaterial.129	PROPN
taxlaw-9799	487	51	in	in	ADP
taxlaw-9799	487	52	other	other	ADJ
taxlaw-9799	487	53	words	word	NOUN
taxlaw-9799	487	54	,	,	PUNCT
taxlaw-9799	487	55	the	the	DET
taxlaw-9799	487	56	small	small	ADJ
taxlaw-9799	487	57	business	business	NOUN
taxlaw-9799	487	58	did	do	AUX
taxlaw-9799	487	59	not	not	PART
taxlaw-9799	487	60	need	need	VERB
taxlaw-9799	487	61	to	to	PART
taxlaw-9799	487	62	represent	represent	VERB
taxlaw-9799	487	63	any	any	DET
taxlaw-9799	487	64	particular	particular	ADJ
taxlaw-9799	487	65	percentage	percentage	NOUN
taxlaw-9799	487	66	of	of	ADP
taxlaw-9799	487	67	the	the	DET
taxlaw-9799	487	68	value	value	NOUN
taxlaw-9799	487	69	of	of	ADP
taxlaw-9799	487	70	the	the	DET
taxlaw-9799	487	71	business	business	NOUN
taxlaw-9799	487	72	’s	’s	PART
taxlaw-9799	487	73	total	total	ADJ
taxlaw-9799	487	74	assets	asset	NOUN
taxlaw-9799	487	75	.	.	PUNCT
taxlaw-9799	488	1	yahoo	yahoo	PROPN
taxlaw-9799	488	2	small	small	ADJ
taxlaw-9799	488	3	business	business	NOUN
taxlaw-9799	488	4	,	,	PUNCT
taxlaw-9799	488	5	however	however	ADV
taxlaw-9799	488	6	,	,	PUNCT
taxlaw-9799	488	7	was	be	AUX
taxlaw-9799	488	8	estimated	estimate	VERB
taxlaw-9799	488	9	to	to	PART
taxlaw-9799	488	10	constitute	constitute	VERB
taxlaw-9799	488	11	less	less	ADJ
taxlaw-9799	488	12	than	than	ADP
taxlaw-9799	488	13	0.2	0.2	NUM
taxlaw-9799	488	14	%	%	NOUN
taxlaw-9799	488	15	of	of	ADP
taxlaw-9799	488	16	the	the	DET
taxlaw-9799	488	17	total	total	ADJ
taxlaw-9799	488	18	value	value	NOUN
taxlaw-9799	488	19	of	of	ADP
taxlaw-9799	488	20	the	the	DET
taxlaw-9799	488	21	spinco.130	spinco.130	NOUN
taxlaw-9799	488	22	whether	whether	SCONJ
taxlaw-9799	488	23	the	the	DET
taxlaw-9799	488	24	spin	spin	NOUN
taxlaw-9799	488	25	-	-	PUNCT
taxlaw-9799	488	26	off	off	NOUN
taxlaw-9799	488	27	would	would	AUX
taxlaw-9799	488	28	be	be	AUX
taxlaw-9799	488	29	seen	see	VERB
taxlaw-9799	488	30	as	as	ADP
taxlaw-9799	488	31	a	a	DET
taxlaw-9799	488	32	transaction	transaction	NOUN
taxlaw-9799	488	33	used	use	VERB
taxlaw-9799	488	34	principally	principally	ADV
taxlaw-9799	488	35	as	as	ADP
taxlaw-9799	488	36	a	a	DET
taxlaw-9799	488	37	device	device	NOUN
taxlaw-9799	488	38	for	for	ADP
taxlaw-9799	488	39	distributing	distribute	VERB
taxlaw-9799	488	40	earnings	earning	NOUN
taxlaw-9799	488	41	and	and	CCONJ
taxlaw-9799	488	42	profits	profit	NOUN
taxlaw-9799	488	43	was	be	AUX
taxlaw-9799	488	44	,	,	PUNCT
taxlaw-9799	488	45	therefore	therefore	ADV
taxlaw-9799	488	46	,	,	PUNCT
taxlaw-9799	488	47	another	another	DET
taxlaw-9799	488	48	potential	potential	ADJ
taxlaw-9799	488	49	problem	problem	NOUN
taxlaw-9799	488	50	.	.	PUNCT
taxlaw-9799	489	1	on	on	ADP
taxlaw-9799	489	2	the	the	DET
taxlaw-9799	489	3	one	one	NUM
taxlaw-9799	489	4	hand	hand	NOUN
taxlaw-9799	489	5	,	,	PUNCT
taxlaw-9799	489	6	yahoo	yahoo	PROPN
taxlaw-9799	489	7	was	be	AUX
taxlaw-9799	489	8	widely	widely	ADV
taxlaw-9799	489	9	held	hold	VERB
taxlaw-9799	489	10	,	,	PUNCT
taxlaw-9799	489	11	and	and	CCONJ
taxlaw-9799	489	12	the	the	DET
taxlaw-9799	489	13	spin	spin	NOUN
taxlaw-9799	489	14	-	-	PUNCT
taxlaw-9799	489	15	off	off	NOUN
taxlaw-9799	489	16	could	could	AUX
taxlaw-9799	489	17	be	be	AUX
taxlaw-9799	489	18	justified	justify	VERB
taxlaw-9799	489	19	by	by	ADP
taxlaw-9799	489	20	a	a	DET
taxlaw-9799	489	21	strong	strong	ADJ
taxlaw-9799	489	22	corporate	corporate	ADJ
taxlaw-9799	489	23	business	business	NOUN
taxlaw-9799	489	24	purpose	purpose	NOUN
taxlaw-9799	489	25	.	.	PUNCT
taxlaw-9799	490	1	these	these	DET
taxlaw-9799	490	2	factors	factor	NOUN
taxlaw-9799	490	3	weighed	weigh	VERB
taxlaw-9799	490	4	in	in	ADP
taxlaw-9799	490	5	favor	favor	NOUN
taxlaw-9799	490	6	of	of	ADP
taxlaw-9799	490	7	nondevice	nondevice	NOUN
taxlaw-9799	490	8	.	.	PUNCT
taxlaw-9799	491	1	on	on	ADP
taxlaw-9799	491	2	the	the	DET
taxlaw-9799	491	3	other	other	ADJ
taxlaw-9799	491	4	hand	hand	NOUN
taxlaw-9799	491	5	,	,	PUNCT
taxlaw-9799	491	6	the	the	DET
taxlaw-9799	491	7	spinco	spinco	NOUN
taxlaw-9799	491	8	would	would	AUX
taxlaw-9799	491	9	hold	hold	VERB
taxlaw-9799	491	10	an	an	DET
taxlaw-9799	491	11	exceedingly	exceedingly	ADV
taxlaw-9799	491	12	high	high	ADJ
taxlaw-9799	491	13	ratio	ratio	NOUN
taxlaw-9799	491	14	of	of	ADP
taxlaw-9799	491	15	inactive	inactive	ADJ
taxlaw-9799	491	16	or	or	CCONJ
taxlaw-9799	491	17	passive	passive	ADJ
taxlaw-9799	491	18	assets	asset	NOUN
taxlaw-9799	491	19	—	—	PUNCT
taxlaw-9799	491	20	the	the	DET
taxlaw-9799	491	21	alibaba	alibaba	PROPN
taxlaw-9799	491	22	holdings	holding	NOUN
taxlaw-9799	491	23	—	—	PUNCT
taxlaw-9799	491	24	compared	compare	VERB
taxlaw-9799	491	25	to	to	ADP
taxlaw-9799	491	26	its	its	PRON
taxlaw-9799	491	27	total	total	ADJ
taxlaw-9799	491	28	assets	asset	NOUN
taxlaw-9799	491	29	.	.	PUNCT
taxlaw-9799	492	1	this	this	PRON
taxlaw-9799	492	2	weighed	weigh	VERB
taxlaw-9799	492	3	rather	rather	ADV
taxlaw-9799	492	4	strongly	strongly	ADV
taxlaw-9799	492	5	in	in	ADP
taxlaw-9799	492	6	favor	favor	NOUN
taxlaw-9799	492	7	of	of	ADP
taxlaw-9799	492	8	device	device	NOUN
taxlaw-9799	492	9	.	.	PUNCT
taxlaw-9799	493	1	yahoo	yahoo	PROPN
taxlaw-9799	493	2	’s	’s	PART
taxlaw-9799	493	3	endgame	endgame	NOUN
taxlaw-9799	493	4	was	be	AUX
taxlaw-9799	493	5	for	for	ADP
taxlaw-9799	493	6	alibaba	alibaba	PROPN
taxlaw-9799	493	7	eventually	eventually	ADV
taxlaw-9799	493	8	to	to	PART
taxlaw-9799	493	9	acquire	acquire	VERB
taxlaw-9799	493	10	the	the	DET
taxlaw-9799	493	11	spinco	spinco	NOUN
taxlaw-9799	493	12	in	in	ADP
taxlaw-9799	493	13	exchange	exchange	NOUN
taxlaw-9799	493	14	for	for	ADP
taxlaw-9799	493	15	some	some	DET
taxlaw-9799	493	16	amount	amount	NOUN
taxlaw-9799	493	17	of	of	ADP
taxlaw-9799	493	18	its	its	PRON
taxlaw-9799	493	19	own	own	ADJ
taxlaw-9799	493	20	stock	stock	NOUN
taxlaw-9799	493	21	,	,	PUNCT
taxlaw-9799	493	22	thus	thus	ADV
taxlaw-9799	493	23	placing	place	VERB
taxlaw-9799	493	24	yahoo	yahoo	PROPN
taxlaw-9799	493	25	’s	’s	PART
taxlaw-9799	493	26	alibaba	alibaba	PROPN
taxlaw-9799	493	27	shares	share	NOUN
taxlaw-9799	493	28	into	into	ADP
taxlaw-9799	493	29	the	the	DET
taxlaw-9799	493	30	hands	hand	NOUN
taxlaw-9799	493	31	of	of	ADP
taxlaw-9799	493	32	yahoo	yahoo	PROPN
taxlaw-9799	493	33	’s	’s	PART
taxlaw-9799	493	34	shareholders	shareholder	NOUN
taxlaw-9799	493	35	without	without	ADP
taxlaw-9799	493	36	any	any	DET
taxlaw-9799	493	37	immediate	immediate	ADJ
taxlaw-9799	493	38	tax	tax	NOUN
taxlaw-9799	493	39	consequences	consequence	NOUN
taxlaw-9799	493	40	.	.	PUNCT
taxlaw-9799	494	1	if	if	SCONJ
taxlaw-9799	494	2	yahoo	yahoo	PROPN
taxlaw-9799	494	3	had	have	AUX
taxlaw-9799	494	4	distributed	distribute	VERB
taxlaw-9799	494	5	its	its	PRON
taxlaw-9799	494	6	alibaba	alibaba	NOUN
taxlaw-9799	494	7	stock	stock	NOUN
taxlaw-9799	494	8	directly	directly	ADV
taxlaw-9799	494	9	to	to	ADP
taxlaw-9799	494	10	yahoo	yahoo	PROPN
taxlaw-9799	494	11	’s	’s	PART
taxlaw-9799	494	12	shareholders	shareholder	NOUN
taxlaw-9799	494	13	,	,	PUNCT
taxlaw-9799	494	14	this	this	DET
taxlaw-9799	494	15	transaction	transaction	NOUN
taxlaw-9799	494	16	would	would	AUX
taxlaw-9799	494	17	have	have	AUX
taxlaw-9799	494	18	produced	produce	VERB
taxlaw-9799	494	19	a	a	DET
taxlaw-9799	494	20	taxable	taxable	ADJ
taxlaw-9799	494	21	gain	gain	NOUN
taxlaw-9799	494	22	at	at	ADP
taxlaw-9799	494	23	yahoo	yahoo	PROPN
taxlaw-9799	494	24	’s	’s	PART
taxlaw-9799	494	25	entity	entity	NOUN
taxlaw-9799	494	26	level	level	NOUN
taxlaw-9799	494	27	under	under	ADP
taxlaw-9799	494	28	section	section	NOUN
taxlaw-9799	494	29	311(b	311(b	PROPN
taxlaw-9799	494	30	)	)	PUNCT
taxlaw-9799	494	31	,	,	PUNCT
taxlaw-9799	494	32	as	as	ADV
taxlaw-9799	494	33	well	well	ADV
taxlaw-9799	494	34	as	as	ADP
taxlaw-9799	494	35	taxable	taxable	ADJ
taxlaw-9799	494	36	dividend	dividend	NOUN
taxlaw-9799	494	37	income	income	NOUN
taxlaw-9799	494	38	for	for	ADP
taxlaw-9799	494	39	the	the	DET
taxlaw-9799	494	40	shareholders	shareholder	NOUN
taxlaw-9799	494	41	who	who	PRON
taxlaw-9799	494	42	received	receive	VERB
taxlaw-9799	494	43	the	the	DET
taxlaw-9799	494	44	distributions	distribution	NOUN
taxlaw-9799	494	45	.	.	PUNCT
taxlaw-9799	495	1	under	under	ADP
taxlaw-9799	495	2	treasury	treasury	NOUN
taxlaw-9799	495	3	regulation	regulation	NOUN
taxlaw-9799	495	4	section	section	NOUN
taxlaw-9799	495	5	1.355–7(b)(2	1.355–7(b)(2	NUM
taxlaw-9799	495	6	)	)	PUNCT
taxlaw-9799	495	7	,	,	PUNCT
taxlaw-9799	495	8	to	to	PART
taxlaw-9799	495	9	achieve	achieve	VERB
taxlaw-9799	495	10	tax	tax	NOUN
taxlaw-9799	495	11	-	-	PUNCT
taxlaw-9799	495	12	free	free	ADJ
taxlaw-9799	495	13	status	status	NOUN
taxlaw-9799	495	14	,	,	PUNCT
taxlaw-9799	495	15	the	the	DET
taxlaw-9799	495	16	spin	spin	NOUN
taxlaw-9799	495	17	-	-	PUNCT
taxlaw-9799	495	18	off	off	NOUN
taxlaw-9799	495	19	and	and	CCONJ
taxlaw-9799	495	20	business	business	NOUN
taxlaw-9799	495	21	combination	combination	NOUN
taxlaw-9799	495	22	must	must	AUX
taxlaw-9799	495	23	not	not	PART
taxlaw-9799	495	24	be	be	AUX
taxlaw-9799	495	25	part	part	NOUN
taxlaw-9799	495	26	of	of	ADP
taxlaw-9799	495	27	a	a	DET
taxlaw-9799	495	28	plan	plan	NOUN
taxlaw-9799	495	29	or	or	CCONJ
taxlaw-9799	495	30	of	of	ADP
taxlaw-9799	495	31	a	a	DET
taxlaw-9799	495	32	series	series	NOUN
taxlaw-9799	495	33	of	of	ADP
taxlaw-9799	495	34	related	related	ADJ
taxlaw-9799	495	35	transactions	transaction	NOUN
taxlaw-9799	495	36	that	that	PRON
taxlaw-9799	495	37	together	together	ADV
taxlaw-9799	495	38	constitute	constitute	VERB
taxlaw-9799	495	39	a	a	DET
taxlaw-9799	495	40	plan.131	plan.131	PROPN
taxlaw-9799	495	41	a	a	DET
taxlaw-9799	495	42	plan	plan	NOUN
taxlaw-9799	495	43	is	be	AUX
taxlaw-9799	495	44	defined	define	VERB
taxlaw-9799	495	45	as	as	ADP
taxlaw-9799	495	46	“	"	PUNCT
taxlaw-9799	495	47	an	an	DET
taxlaw-9799	495	48	agreement	agreement	NOUN
taxlaw-9799	495	49	,	,	PUNCT
taxlaw-9799	495	50	understanding	understanding	NOUN
taxlaw-9799	495	51	,	,	PUNCT
taxlaw-9799	495	52	arrangement	arrangement	NOUN
taxlaw-9799	495	53	or	or	CCONJ
taxlaw-9799	495	54	substantial	substantial	ADJ
taxlaw-9799	495	55	negotiations	negotiation	NOUN
taxlaw-9799	495	56	regarding	regard	VERB
taxlaw-9799	495	57	the	the	DET
taxlaw-9799	495	58	acquisition	acquisition	NOUN
taxlaw-9799	495	59	or	or	CCONJ
taxlaw-9799	495	60	a	a	DET
taxlaw-9799	495	61	similar	similar	ADJ
taxlaw-9799	495	62	acquisition	acquisition	NOUN
taxlaw-9799	495	63	at	at	ADP
taxlaw-9799	495	64	some	some	DET
taxlaw-9799	495	65	time	time	NOUN
taxlaw-9799	495	66	during	during	ADP
taxlaw-9799	495	67	the	the	DET
taxlaw-9799	495	68	two	two	NUM
taxlaw-9799	495	69	-	-	PUNCT
taxlaw-9799	495	70	year	year	NOUN
taxlaw-9799	495	71	period	period	NOUN
taxlaw-9799	495	72	ending	end	VERB
taxlaw-9799	495	73	on	on	ADP
taxlaw-9799	495	74	the	the	DET
taxlaw-9799	495	75	date	date	NOUN
taxlaw-9799	495	76	of	of	ADP
taxlaw-9799	495	77	the	the	DET
taxlaw-9799	495	78	distribution	distribution	NOUN
taxlaw-9799	495	79	.	.	PUNCT
taxlaw-9799	496	1	”132	”132	X
taxlaw-9799	496	2	yahoo	yahoo	PROPN
taxlaw-9799	496	3	had	have	VERB
taxlaw-9799	496	4	no	no	DET
taxlaw-9799	496	5	such	such	ADJ
taxlaw-9799	496	6	agreement	agreement	NOUN
taxlaw-9799	496	7	and	and	CCONJ
taxlaw-9799	497	1	125	125	NUM
taxlaw-9799	497	2	i	i	NOUN
taxlaw-9799	497	3	d.	d.	PROPN
taxlaw-9799	497	4	126	126	NUM
taxlaw-9799	498	1	i	i	PRON
taxlaw-9799	498	2	d.	d.	PROPN
taxlaw-9799	498	3	127	127	NUM
taxlaw-9799	499	1	i	i	PRON
taxlaw-9799	499	2	d.	d.	PROPN
taxlaw-9799	499	3	128	128	NUM
taxlaw-9799	500	1	i	i	PROPN
taxlaw-9799	500	2	d.	d.	PROPN
taxlaw-9799	500	3	129	129	NUM
taxlaw-9799	500	4	see	see	VERB
taxlaw-9799	500	5	rev	rev	PROPN
taxlaw-9799	500	6	.	.	PUNCT
taxlaw-9799	500	7	rul	rul	NOUN
taxlaw-9799	500	8	.	.	PUNCT
taxlaw-9799	501	1	73	73	NUM
taxlaw-9799	501	2	-	-	SYM
taxlaw-9799	501	3	44	44	NUM
taxlaw-9799	501	4	,	,	PUNCT
taxlaw-9799	501	5	1973	1973	NUM
taxlaw-9799	501	6	-	-	SYM
taxlaw-9799	501	7	1	1	NUM
taxlaw-9799	501	8	cb	cb	PROPN
taxlaw-9799	501	9	182	182	NUM
taxlaw-9799	501	10	.	.	PUNCT
taxlaw-9799	502	1	130	130	NUM
taxlaw-9799	502	2	see	see	VERB
taxlaw-9799	502	3	amy	amy	PROPN
taxlaw-9799	502	4	s.	s.	PROPN
taxlaw-9799	502	5	elliott	elliott	PROPN
taxlaw-9799	502	6	,	,	PUNCT
taxlaw-9799	502	7	size	size	NOUN
taxlaw-9799	502	8	does	do	AUX
taxlaw-9799	502	9	matter	matter	NOUN
taxlaw-9799	502	10	:	:	PUNCT
taxlaw-9799	502	11	wellen	wellen	PROPN
taxlaw-9799	502	12	explains	explain	VERB
taxlaw-9799	502	13	new	new	ADJ
taxlaw-9799	502	14	hot	hot	ADJ
taxlaw-9799	502	15	dog	dog	NOUN
taxlaw-9799	502	16	stand	stand	VERB
taxlaw-9799	502	17	regs	reg	NOUN
taxlaw-9799	502	18	,	,	PUNCT
taxlaw-9799	502	19	152	152	NUM
taxlaw-9799	502	20	tax	tax	NOUN
taxlaw-9799	502	21	notes	note	NOUN
taxlaw-9799	502	22	480	480	NUM
taxlaw-9799	502	23	,	,	PUNCT
taxlaw-9799	502	24	480	480	NUM
taxlaw-9799	502	25	(	(	PUNCT
taxlaw-9799	502	26	july	july	PROPN
taxlaw-9799	502	27	25	25	NUM
taxlaw-9799	502	28	,	,	PUNCT
taxlaw-9799	502	29	2016	2016	NUM
taxlaw-9799	502	30	)	)	PUNCT
taxlaw-9799	502	31	.	.	PUNCT
taxlaw-9799	503	1	131	131	NUM
taxlaw-9799	503	2	treas	trea	NOUN
taxlaw-9799	503	3	.	.	PUNCT
taxlaw-9799	504	1	reg	reg	PROPN
taxlaw-9799	504	2	.	.	PUNCT
taxlaw-9799	505	1	§	§	PROPN
taxlaw-9799	505	2	1.355	1.355	NUM
taxlaw-9799	505	3	-	-	PUNCT
taxlaw-9799	505	4	7(b)(2	7(b)(2	NUM
taxlaw-9799	505	5	)	)	PUNCT
taxlaw-9799	505	6	.	.	PUNCT
taxlaw-9799	506	1	132	132	NUM
taxlaw-9799	506	2	i	i	NOUN
taxlaw-9799	506	3	d.	d.	PROPN
taxlaw-9799	506	4	2022	2022	NUM
taxlaw-9799	506	5	]	]	PUNCT
taxlaw-9799	506	6	conglomerate	conglomerate	NOUN
taxlaw-9799	506	7	spin	spin	NOUN
taxlaw-9799	506	8	-	-	PUNCT
taxlaw-9799	506	9	offs	off	NOUN
taxlaw-9799	506	10	188	188	NUM
taxlaw-9799	506	11	had	have	AUX
taxlaw-9799	506	12	not	not	PART
taxlaw-9799	506	13	engaged	engage	VERB
taxlaw-9799	506	14	in	in	ADP
taxlaw-9799	506	15	any	any	DET
taxlaw-9799	506	16	substantial	substantial	ADJ
taxlaw-9799	506	17	negotiations	negotiation	NOUN
taxlaw-9799	506	18	with	with	ADP
taxlaw-9799	506	19	potential	potential	ADJ
taxlaw-9799	506	20	acquirers	acquirer	NOUN
taxlaw-9799	506	21	,	,	PUNCT
taxlaw-9799	506	22	so	so	SCONJ
taxlaw-9799	506	23	the	the	DET
taxlaw-9799	506	24	business	business	NOUN
taxlaw-9799	506	25	combination	combination	NOUN
taxlaw-9799	506	26	could	could	AUX
taxlaw-9799	506	27	presumably	presumably	ADV
taxlaw-9799	506	28	take	take	VERB
taxlaw-9799	506	29	place	place	NOUN
taxlaw-9799	506	30	shortly	shortly	ADV
taxlaw-9799	506	31	after	after	ADP
taxlaw-9799	506	32	the	the	DET
taxlaw-9799	506	33	completion	completion	NOUN
taxlaw-9799	506	34	of	of	ADP
taxlaw-9799	506	35	the	the	DET
taxlaw-9799	506	36	spin	spin	NOUN
taxlaw-9799	506	37	-	-	PUNCT
taxlaw-9799	506	38	off	off	NOUN
taxlaw-9799	506	39	.	.	PUNCT
taxlaw-9799	507	1	nevertheless	nevertheless	ADV
taxlaw-9799	507	2	,	,	PUNCT
taxlaw-9799	507	3	the	the	DET
taxlaw-9799	507	4	parties	party	NOUN
taxlaw-9799	507	5	planned	plan	VERB
taxlaw-9799	507	6	to	to	PART
taxlaw-9799	507	7	delay	delay	VERB
taxlaw-9799	507	8	any	any	DET
taxlaw-9799	507	9	merger	merger	NOUN
taxlaw-9799	507	10	for	for	ADP
taxlaw-9799	507	11	more	more	ADJ
taxlaw-9799	507	12	than	than	ADP
taxlaw-9799	507	13	a	a	PRON
taxlaw-9799	507	14	year	year	NOUN
taxlaw-9799	507	15	to	to	PART
taxlaw-9799	507	16	avail	avail	VERB
taxlaw-9799	507	17	themselves	themselves	PRON
taxlaw-9799	507	18	of	of	ADP
taxlaw-9799	507	19	a	a	DET
taxlaw-9799	507	20	one	one	NUM
taxlaw-9799	507	21	-	-	PUNCT
taxlaw-9799	507	22	year	year	NOUN
taxlaw-9799	507	23	safe	safe	ADJ
taxlaw-9799	507	24	harbor	harbor	NOUN
taxlaw-9799	507	25	in	in	ADP
taxlaw-9799	507	26	the	the	DET
taxlaw-9799	507	27	regulation.133	regulation.133	NOUN
taxlaw-9799	507	28	when	when	SCONJ
taxlaw-9799	507	29	yahoo	yahoo	PROPN
taxlaw-9799	507	30	announced	announce	VERB
taxlaw-9799	507	31	the	the	DET
taxlaw-9799	507	32	proposed	propose	VERB
taxlaw-9799	507	33	spin	spin	NOUN
taxlaw-9799	507	34	-	-	PUNCT
taxlaw-9799	507	35	off	off	ADP
taxlaw-9799	507	36	transaction	transaction	NOUN
taxlaw-9799	507	37	on	on	ADP
taxlaw-9799	507	38	january	january	PROPN
taxlaw-9799	507	39	27	27	NUM
taxlaw-9799	507	40	,	,	PUNCT
taxlaw-9799	507	41	2015	2015	NUM
taxlaw-9799	507	42	,	,	PUNCT
taxlaw-9799	507	43	the	the	DET
taxlaw-9799	507	44	media	medium	NOUN
taxlaw-9799	507	45	criticized	criticize	VERB
taxlaw-9799	507	46	the	the	DET
taxlaw-9799	507	47	plan	plan	NOUN
taxlaw-9799	507	48	as	as	ADP
taxlaw-9799	507	49	undeserving	undeserve	VERB
taxlaw-9799	507	50	of	of	ADP
taxlaw-9799	507	51	the	the	DET
taxlaw-9799	507	52	tax	tax	NOUN
taxlaw-9799	507	53	-	-	PUNCT
taxlaw-9799	507	54	free	free	ADJ
taxlaw-9799	507	55	benefit.134	benefit.134	NOUN
taxlaw-9799	507	56	and	and	CCONJ
taxlaw-9799	507	57	when	when	SCONJ
taxlaw-9799	507	58	the	the	DET
taxlaw-9799	507	59	i.r.s	i.r.	NOUN
taxlaw-9799	507	60	.	.	PUNCT
taxlaw-9799	507	61	refused	refuse	VERB
taxlaw-9799	507	62	to	to	PART
taxlaw-9799	507	63	issue	issue	VERB
taxlaw-9799	507	64	a	a	DET
taxlaw-9799	507	65	private	private	ADJ
taxlaw-9799	507	66	letter	letter	NOUN
taxlaw-9799	507	67	ruling	rule	VERB
taxlaw-9799	507	68	blessing	blessing	NOUN
taxlaw-9799	507	69	the	the	DET
taxlaw-9799	507	70	transaction	transaction	NOUN
taxlaw-9799	507	71	,	,	PUNCT
taxlaw-9799	507	72	yahoo	yahoo	PROPN
taxlaw-9799	507	73	’s	’s	PART
taxlaw-9799	507	74	stock	stock	NOUN
taxlaw-9799	507	75	price	price	NOUN
taxlaw-9799	507	76	fell	fall	VERB
taxlaw-9799	507	77	by	by	ADP
taxlaw-9799	507	78	over	over	ADP
taxlaw-9799	507	79	10%.135	10%.135	NUM
taxlaw-9799	507	80	skadden	skadden	ADJ
taxlaw-9799	507	81	,	,	PUNCT
taxlaw-9799	507	82	nevertheless	nevertheless	ADV
taxlaw-9799	507	83	,	,	PUNCT
taxlaw-9799	507	84	issued	issue	VERB
taxlaw-9799	507	85	a	a	DET
taxlaw-9799	507	86	will	will	NOUN
taxlaw-9799	507	87	-	-	PUNCT
taxlaw-9799	507	88	level	level	NOUN
taxlaw-9799	507	89	legal	legal	ADJ
taxlaw-9799	507	90	opinion	opinion	NOUN
taxlaw-9799	507	91	affirming	affirm	VERB
taxlaw-9799	507	92	its	its	PRON
taxlaw-9799	507	93	confidence	confidence	NOUN
taxlaw-9799	507	94	that	that	SCONJ
taxlaw-9799	507	95	the	the	DET
taxlaw-9799	507	96	deal	deal	NOUN
taxlaw-9799	507	97	would	would	AUX
taxlaw-9799	507	98	be	be	AUX
taxlaw-9799	507	99	tax	tax	NOUN
taxlaw-9799	507	100	-	-	PUNCT
taxlaw-9799	507	101	free	free	ADJ
taxlaw-9799	507	102	at	at	ADP
taxlaw-9799	507	103	both	both	CCONJ
taxlaw-9799	507	104	the	the	DET
taxlaw-9799	507	105	entity	entity	NOUN
taxlaw-9799	507	106	and	and	CCONJ
taxlaw-9799	507	107	shareholder	shareholder	NOUN
taxlaw-9799	507	108	levels.136	levels.136	ADJ
taxlaw-9799	507	109	in	in	ADP
taxlaw-9799	507	110	response	response	NOUN
taxlaw-9799	507	111	to	to	ADP
taxlaw-9799	507	112	yahoo	yahoo	PROPN
taxlaw-9799	507	113	’s	’s	PART
taxlaw-9799	507	114	proposed	propose	VERB
taxlaw-9799	507	115	spin	spin	NOUN
taxlaw-9799	507	116	-	-	PUNCT
taxlaw-9799	507	117	off	off	NOUN
taxlaw-9799	507	118	—	—	PUNCT
taxlaw-9799	507	119	as	as	ADV
taxlaw-9799	507	120	well	well	ADV
taxlaw-9799	507	121	as	as	ADP
taxlaw-9799	507	122	other	other	ADJ
taxlaw-9799	507	123	potentially	potentially	ADV
taxlaw-9799	507	124	abusive	abusive	ADJ
taxlaw-9799	507	125	distributions	distribution	NOUN
taxlaw-9799	507	126	involving	involve	VERB
taxlaw-9799	507	127	rics	ric	NOUN
taxlaw-9799	507	128	and	and	CCONJ
taxlaw-9799	507	129	reits	reit	NOUN
taxlaw-9799	507	130	—	—	PUNCT
taxlaw-9799	507	131	the	the	DET
taxlaw-9799	507	132	i.r.s	i.r.s	NOUN
taxlaw-9799	507	133	.	.	PUNCT
taxlaw-9799	507	134	issued	issue	VERB
taxlaw-9799	507	135	notice	notice	NOUN
taxlaw-9799	507	136	2015	2015	NUM
taxlaw-9799	507	137	–	–	PUNCT
taxlaw-9799	507	138	59	59	NUM
taxlaw-9799	507	139	(	(	PUNCT
taxlaw-9799	507	140	“	"	PUNCT
taxlaw-9799	507	141	the	the	DET
taxlaw-9799	507	142	notice	notice	NOUN
taxlaw-9799	507	143	”	"	PUNCT
taxlaw-9799	507	144	)	)	PUNCT
taxlaw-9799	507	145	and	and	CCONJ
taxlaw-9799	507	146	a	a	DET
taxlaw-9799	507	147	request	request	NOUN
taxlaw-9799	507	148	for	for	ADP
taxlaw-9799	507	149	comments	comment	NOUN
taxlaw-9799	507	150	relating	relate	VERB
taxlaw-9799	507	151	to	to	ADP
taxlaw-9799	507	152	sections	section	NOUN
taxlaw-9799	507	153	337(d	337(d	NUM
taxlaw-9799	507	154	)	)	PUNCT
taxlaw-9799	507	155	and	and	CCONJ
taxlaw-9799	507	156	355.137	355.137	NUM
taxlaw-9799	507	157	with	with	ADP
taxlaw-9799	507	158	respect	respect	NOUN
taxlaw-9799	507	159	to	to	ADP
taxlaw-9799	507	160	section	section	NOUN
taxlaw-9799	507	161	355	355	NUM
taxlaw-9799	507	162	,	,	PUNCT
taxlaw-9799	507	163	the	the	DET
taxlaw-9799	507	164	government	government	NOUN
taxlaw-9799	507	165	noted	note	VERB
taxlaw-9799	507	166	three	three	NUM
taxlaw-9799	507	167	transactional	transactional	ADJ
taxlaw-9799	507	168	characteristics	characteristic	NOUN
taxlaw-9799	507	169	of	of	ADP
taxlaw-9799	507	170	concern	concern	NOUN
taxlaw-9799	507	171	.	.	PUNCT
taxlaw-9799	508	1	first	first	ADV
taxlaw-9799	508	2	,	,	PUNCT
taxlaw-9799	508	3	“	"	PUNCT
taxlaw-9799	508	4	ownership	ownership	NOUN
taxlaw-9799	508	5	by	by	ADP
taxlaw-9799	508	6	the	the	DET
taxlaw-9799	508	7	distributing	distribute	VERB
taxlaw-9799	508	8	corporation	corporation	NOUN
taxlaw-9799	508	9	or	or	CCONJ
taxlaw-9799	508	10	the	the	DET
taxlaw-9799	508	11	controlled	control	VERB
taxlaw-9799	508	12	corporation	corporation	NOUN
taxlaw-9799	508	13	of	of	ADP
taxlaw-9799	508	14	investment	investment	NOUN
taxlaw-9799	508	15	assets	asset	NOUN
taxlaw-9799	508	16	,	,	PUNCT
taxlaw-9799	508	17	within	within	ADP
taxlaw-9799	508	18	the	the	DET
taxlaw-9799	508	19	meaning	meaning	NOUN
taxlaw-9799	508	20	of	of	ADP
taxlaw-9799	508	21	§	§	PROPN
taxlaw-9799	508	22	355(g)(2)(b	355(g)(2)(b	PROPN
taxlaw-9799	508	23	)	)	PUNCT
taxlaw-9799	508	24	,	,	PUNCT
taxlaw-9799	508	25	with	with	ADP
taxlaw-9799	508	26	modifications	modification	NOUN
taxlaw-9799	508	27	(	(	PUNCT
taxlaw-9799	508	28	investment	investment	NOUN
taxlaw-9799	508	29	assets	asset	NOUN
taxlaw-9799	508	30	)	)	PUNCT
taxlaw-9799	508	31	,	,	PUNCT
taxlaw-9799	508	32	having	have	VERB
taxlaw-9799	508	33	substantial	substantial	ADJ
taxlaw-9799	508	34	value	value	NOUN
taxlaw-9799	508	35	in	in	ADP
taxlaw-9799	508	36	relation	relation	NOUN
taxlaw-9799	508	37	to	to	ADP
taxlaw-9799	508	38	(	(	PUNCT
taxlaw-9799	508	39	a	a	X
taxlaw-9799	508	40	)	)	PUNCT
taxlaw-9799	508	41	the	the	DET
taxlaw-9799	508	42	value	value	NOUN
taxlaw-9799	508	43	of	of	ADP
taxlaw-9799	508	44	all	all	PRON
taxlaw-9799	508	45	of	of	ADP
taxlaw-9799	508	46	such	such	ADJ
taxlaw-9799	508	47	corporation	corporation	NOUN
taxlaw-9799	508	48	’s	’s	PART
taxlaw-9799	508	49	assets	asset	NOUN
taxlaw-9799	508	50	and	and	CCONJ
taxlaw-9799	508	51	(	(	PUNCT
taxlaw-9799	508	52	b	b	X
taxlaw-9799	508	53	)	)	PUNCT
taxlaw-9799	508	54	the	the	DET
taxlaw-9799	508	55	value	value	NOUN
taxlaw-9799	508	56	of	of	ADP
taxlaw-9799	508	57	the	the	DET
taxlaw-9799	508	58	assets	asset	NOUN
taxlaw-9799	508	59	of	of	ADP
taxlaw-9799	508	60	the	the	DET
taxlaw-9799	508	61	active	active	ADJ
taxlaw-9799	508	62	trade(s	trade(s	NOUN
taxlaw-9799	508	63	)	)	PUNCT
taxlaw-9799	508	64	or	or	CCONJ
taxlaw-9799	508	65	business(es	business(es	NOUN
taxlaw-9799	508	66	)	)	PUNCT
taxlaw-9799	508	67	on	on	ADP
taxlaw-9799	508	68	which	which	PRON
taxlaw-9799	508	69	the	the	DET
taxlaw-9799	508	70	distributing	distribute	VERB
taxlaw-9799	508	71	corporation	corporation	NOUN
taxlaw-9799	508	72	or	or	CCONJ
taxlaw-9799	508	73	the	the	DET
taxlaw-9799	508	74	controlled	control	VERB
taxlaw-9799	508	75	corporation	corporation	NOUN
taxlaw-9799	508	76	relies	rely	VERB
taxlaw-9799	508	77	to	to	PART
taxlaw-9799	508	78	satisfy	satisfy	VERB
taxlaw-9799	508	79	the	the	DET
taxlaw-9799	508	80	requirements	requirement	NOUN
taxlaw-9799	508	81	of	of	ADP
taxlaw-9799	508	82	§	§	PROPN
taxlaw-9799	508	83	355(b	355(b	PROPN
taxlaw-9799	508	84	)	)	PUNCT
taxlaw-9799	508	85	(	(	PUNCT
taxlaw-9799	508	86	a	a	DET
taxlaw-9799	508	87	qualifying	qualify	VERB
taxlaw-9799	508	88	business	business	NOUN
taxlaw-9799	508	89	or	or	CCONJ
taxlaw-9799	508	90	qualifying	qualify	VERB
taxlaw-9799	508	91	business	business	NOUN
taxlaw-9799	508	92	assets	asset	NOUN
taxlaw-9799	508	93	)	)	PUNCT
taxlaw-9799	508	94	”	"	PUNCT
taxlaw-9799	508	95	;	;	PUNCT
taxlaw-9799	508	96	second	second	X
taxlaw-9799	508	97	,	,	PUNCT
taxlaw-9799	508	98	“	"	PUNCT
taxlaw-9799	508	99	a	a	DET
taxlaw-9799	508	100	significant	significant	ADJ
taxlaw-9799	508	101	difference	difference	NOUN
taxlaw-9799	508	102	between	between	ADP
taxlaw-9799	508	103	the	the	DET
taxlaw-9799	508	104	distributing	distribute	VERB
taxlaw-9799	508	105	corporation	corporation	NOUN
taxlaw-9799	508	106	’s	’s	PART
taxlaw-9799	508	107	ratio	ratio	NOUN
taxlaw-9799	508	108	of	of	ADP
taxlaw-9799	508	109	investment	investment	NOUN
taxlaw-9799	508	110	assets	asset	NOUN
taxlaw-9799	508	111	to	to	ADP
taxlaw-9799	508	112	assets	asset	NOUN
taxlaw-9799	508	113	other	other	ADJ
taxlaw-9799	508	114	than	than	ADP
taxlaw-9799	508	115	investment	investment	NOUN
taxlaw-9799	508	116	assets	asset	NOUN
taxlaw-9799	508	117	and	and	CCONJ
taxlaw-9799	508	118	such	such	ADJ
taxlaw-9799	508	119	ratio	ratio	NOUN
taxlaw-9799	508	120	of	of	ADP
taxlaw-9799	508	121	the	the	DET
taxlaw-9799	508	122	controlled	control	VERB
taxlaw-9799	508	123	corporation	corporation	NOUN
taxlaw-9799	508	124	”	"	PUNCT
taxlaw-9799	508	125	;	;	PUNCT
taxlaw-9799	508	126	and	and	CCONJ
taxlaw-9799	508	127	third	third	ADJ
taxlaw-9799	508	128	,	,	PUNCT
taxlaw-9799	508	129	ownership	ownership	NOUN
taxlaw-9799	508	130	by	by	ADP
taxlaw-9799	508	131	the	the	DET
taxlaw-9799	508	132	distributing	distribute	VERB
taxlaw-9799	508	133	corporation	corporation	NOUN
taxlaw-9799	508	134	or	or	CCONJ
taxlaw-9799	508	135	the	the	DET
taxlaw-9799	508	136	controlled	control	VERB
taxlaw-9799	508	137	corporation	corporation	NOUN
taxlaw-9799	508	138	of	of	ADP
taxlaw-9799	508	139	a	a	DET
taxlaw-9799	508	140	small	small	ADJ
taxlaw-9799	508	141	amount	amount	NOUN
taxlaw-9799	508	142	of	of	ADP
taxlaw-9799	508	143	qualifying	qualify	VERB
taxlaw-9799	508	144	business	business	NOUN
taxlaw-9799	508	145	assets	asset	NOUN
taxlaw-9799	508	146	in	in	ADP
taxlaw-9799	508	147	relation	relation	NOUN
taxlaw-9799	508	148	to	to	ADP
taxlaw-9799	508	149	all	all	PRON
taxlaw-9799	508	150	of	of	ADP
taxlaw-9799	508	151	its	its	PRON
taxlaw-9799	508	152	assets	asset	NOUN
taxlaw-9799	508	153	.	.	PUNCT
taxlaw-9799	509	1	”138	”138	PROPN
taxlaw-9799	509	2	the	the	DET
taxlaw-9799	509	3	i.r.s	i.r.s	PROPN
taxlaw-9799	509	4	.	.	PUNCT
taxlaw-9799	510	1	in	in	ADP
taxlaw-9799	510	2	the	the	DET
taxlaw-9799	510	3	notice	notice	NOUN
taxlaw-9799	510	4	added	add	VERB
taxlaw-9799	510	5	transactions	transaction	NOUN
taxlaw-9799	510	6	displaying	display	VERB
taxlaw-9799	510	7	these	these	DET
taxlaw-9799	510	8	qualities	quality	NOUN
taxlaw-9799	510	9	to	to	ADP
taxlaw-9799	510	10	its	its	PRON
taxlaw-9799	510	11	list	list	NOUN
taxlaw-9799	510	12	of	of	ADP
taxlaw-9799	510	13	“	"	PUNCT
taxlaw-9799	510	14	no	no	DET
taxlaw-9799	510	15	-	-	PUNCT
taxlaw-9799	510	16	rule	rule	NOUN
taxlaw-9799	510	17	areas	area	NOUN
taxlaw-9799	510	18	.	.	PUNCT
taxlaw-9799	510	19	”139	”139	PUNCT
taxlaw-9799	511	1	the	the	DET
taxlaw-9799	511	2	notice	notice	NOUN
taxlaw-9799	511	3	explained	explain	VERB
taxlaw-9799	511	4	that	that	SCONJ
taxlaw-9799	511	5	certain	certain	ADJ
taxlaw-9799	511	6	taxpayers	taxpayer	NOUN
taxlaw-9799	511	7	in	in	ADP
taxlaw-9799	511	8	their	their	PRON
taxlaw-9799	511	9	requests	request	NOUN
taxlaw-9799	511	10	for	for	ADP
taxlaw-9799	511	11	private	private	ADJ
taxlaw-9799	511	12	letter	letter	NOUN
taxlaw-9799	511	13	rulings	ruling	NOUN
taxlaw-9799	511	14	had	have	AUX
taxlaw-9799	511	15	been	be	AUX
taxlaw-9799	511	16	taking	take	VERB
taxlaw-9799	511	17	positions	position	NOUN
taxlaw-9799	511	18	that	that	SCONJ
taxlaw-9799	511	19	their	their	PRON
taxlaw-9799	511	20	proposed	propose	VERB
taxlaw-9799	511	21	transaction	transaction	NOUN
taxlaw-9799	511	22	structures	structure	NOUN
taxlaw-9799	511	23	satisfied	satisfy	VERB
taxlaw-9799	511	24	the	the	DET
taxlaw-9799	511	25	requirements	requirement	NOUN
taxlaw-9799	511	26	of	of	ADP
taxlaw-9799	511	27	section	section	NOUN
taxlaw-9799	511	28	355	355	NUM
taxlaw-9799	511	29	despite	despite	SCONJ
taxlaw-9799	511	30	exhibiting	exhibit	VERB
taxlaw-9799	511	31	one	one	NUM
taxlaw-9799	511	32	or	or	CCONJ
taxlaw-9799	511	33	more	more	ADJ
taxlaw-9799	511	34	of	of	ADP
taxlaw-9799	511	35	these	these	DET
taxlaw-9799	511	36	concerning	concern	VERB
taxlaw-9799	511	37	characteristics.140	characteristics.140	NOUN
taxlaw-9799	511	38	the	the	DET
taxlaw-9799	511	39	notice	notice	NOUN
taxlaw-9799	511	40	stated	state	VERB
taxlaw-9799	511	41	that	that	SCONJ
taxlaw-9799	511	42	such	such	ADJ
taxlaw-9799	511	43	transactions	transaction	NOUN
taxlaw-9799	511	44	had	have	VERB
taxlaw-9799	511	45	some	some	PRON
taxlaw-9799	511	46	or	or	CCONJ
taxlaw-9799	511	47	all	all	PRON
taxlaw-9799	511	48	of	of	ADP
taxlaw-9799	511	49	the	the	DET
taxlaw-9799	511	50	following	follow	VERB
taxlaw-9799	511	51	infirmities	infirmity	NOUN
taxlaw-9799	511	52	:	:	PUNCT
taxlaw-9799	511	53	1	1	X
taxlaw-9799	511	54	)	)	PUNCT
taxlaw-9799	511	55	presenting	present	VERB
taxlaw-9799	511	56	evidence	evidence	NOUN
taxlaw-9799	511	57	of	of	ADP
taxlaw-9799	511	58	device	device	NOUN
taxlaw-9799	511	59	for	for	ADP
taxlaw-9799	511	60	the	the	DET
taxlaw-9799	511	61	distribution	distribution	NOUN
taxlaw-9799	511	62	of	of	ADP
taxlaw-9799	511	63	earnings	earning	NOUN
taxlaw-9799	511	64	and	and	CCONJ
taxlaw-9799	511	65	profits	profit	NOUN
taxlaw-9799	511	66	;	;	PUNCT
taxlaw-9799	511	67	2	2	X
taxlaw-9799	511	68	)	)	PUNCT
taxlaw-9799	511	69	lacking	lack	VERB
taxlaw-9799	511	70	an	an	DET
taxlaw-9799	511	71	adequate	adequate	ADJ
taxlaw-9799	511	72	business	business	NOUN
taxlaw-9799	511	73	purpose	purpose	NOUN
taxlaw-9799	511	74	or	or	CCONJ
taxlaw-9799	511	75	a	a	DET
taxlaw-9799	511	76	qualifying	qualifying	NOUN
taxlaw-9799	511	77	business	business	NOUN
taxlaw-9799	511	78	;	;	PUNCT
taxlaw-9799	511	79	3	3	X
taxlaw-9799	511	80	)	)	PUNCT
taxlaw-9799	511	81	violating	violate	VERB
taxlaw-9799	511	82	other	other	ADJ
taxlaw-9799	511	83	section	section	NOUN
taxlaw-9799	511	84	355	355	NUM
taxlaw-9799	511	85	requirements	requirement	NOUN
taxlaw-9799	511	86	;	;	PUNCT
taxlaw-9799	511	87	4	4	X
taxlaw-9799	511	88	)	)	PUNCT
taxlaw-9799	511	89	circumventing	circumvent	VERB
taxlaw-9799	511	90	the	the	DET
taxlaw-9799	511	91	purposes	purpose	NOUN
taxlaw-9799	511	92	of	of	ADP
taxlaw-9799	511	93	certain	certain	ADJ
taxlaw-9799	511	94	provisions	provision	NOUN
taxlaw-9799	511	95	intended	intend	VERB
taxlaw-9799	511	96	to	to	PART
taxlaw-9799	511	97	repeal	repeal	VERB
taxlaw-9799	511	98	general	general	ADJ
taxlaw-9799	511	99	utilities	utility	NOUN
taxlaw-9799	511	100	&	&	CCONJ
taxlaw-9799	511	101	operating	operating	PROPN
taxlaw-9799	511	102	co.	co.	PROPN
taxlaw-9799	511	103	v.	v.	ADP
taxlaw-9799	511	104	helvering	helvering	NOUN
taxlaw-9799	511	105	;	;	PUNCT
taxlaw-9799	511	106	and	and	CCONJ
taxlaw-9799	511	107	5	5	X
taxlaw-9799	511	108	)	)	PUNCT
taxlaw-9799	511	109	the	the	DET
taxlaw-9799	511	110	distributing	distribute	VERB
taxlaw-9799	511	111	corporation	corporation	NOUN
taxlaw-9799	511	112	or	or	CCONJ
taxlaw-9799	511	113	the	the	DET
taxlaw-9799	511	114	controlled	control	VERB
taxlaw-9799	511	115	corporation	corporation	NOUN
taxlaw-9799	511	116	owning	own	VERB
taxlaw-9799	511	117	a	a	DET
taxlaw-9799	511	118	small	small	ADJ
taxlaw-9799	511	119	amount	amount	NOUN
taxlaw-9799	511	120	of	of	ADP
taxlaw-9799	511	121	qualifying	qualify	VERB
taxlaw-9799	511	122	business	business	NOUN
taxlaw-9799	511	123	assets	asset	NOUN
taxlaw-9799	511	124	compared	compare	VERB
taxlaw-9799	511	125	to	to	ADP
taxlaw-9799	511	126	its	its	PRON
taxlaw-9799	511	127	other	other	ADJ
taxlaw-9799	511	128	assets	asset	NOUN
taxlaw-9799	511	129	(	(	PUNCT
taxlaw-9799	511	130	non	non	ADJ
taxlaw-9799	511	131	-	-	ADJ
taxlaw-9799	511	132	qualifying	qualifying	ADJ
taxlaw-9799	511	133	business	business	NOUN
taxlaw-9799	511	134	assets).141	assets).141	PROPN
taxlaw-9799	511	135	133	133	NUM
taxlaw-9799	511	136	see	see	VERB
taxlaw-9799	511	137	treas	treas	PROPN
taxlaw-9799	511	138	.	.	PUNCT
taxlaw-9799	512	1	reg	reg	PROPN
taxlaw-9799	512	2	.	.	PUNCT
taxlaw-9799	513	1	§	§	PROPN
taxlaw-9799	513	2	1.355	1.355	NUM
taxlaw-9799	513	3	-	-	SYM
taxlaw-9799	513	4	7(d	7(d	NUM
taxlaw-9799	513	5	)	)	PUNCT
taxlaw-9799	513	6	.	.	PUNCT
taxlaw-9799	514	1	134	134	NUM
taxlaw-9799	514	2	see	see	VERB
taxlaw-9799	514	3	kim	kim	PROPN
taxlaw-9799	514	4	&	&	CCONJ
taxlaw-9799	514	5	min	min	PROPN
taxlaw-9799	514	6	,	,	PUNCT
taxlaw-9799	514	7	supra	supra	PROPN
taxlaw-9799	514	8	note	note	NOUN
taxlaw-9799	514	9	120	120	NUM
taxlaw-9799	514	10	,	,	PUNCT
taxlaw-9799	514	11	at	at	ADP
taxlaw-9799	514	12	16	16	NUM
taxlaw-9799	514	13	-	-	SYM
taxlaw-9799	514	14	17	17	NUM
taxlaw-9799	514	15	.	.	PUNCT
taxlaw-9799	514	16	135	135	NUM
taxlaw-9799	514	17	see	see	VERB
taxlaw-9799	514	18	blank	blank	ADJ
taxlaw-9799	514	19	,	,	PUNCT
taxlaw-9799	514	20	supra	supra	PROPN
taxlaw-9799	514	21	note	note	NOUN
taxlaw-9799	514	22	121	121	NUM
taxlaw-9799	514	23	,	,	PUNCT
taxlaw-9799	514	24	at	at	ADP
taxlaw-9799	514	25	485	485	NUM
taxlaw-9799	514	26	-	-	SYM
taxlaw-9799	514	27	86	86	NUM
taxlaw-9799	514	28	.	.	PUNCT
taxlaw-9799	515	1	136	136	NUM
taxlaw-9799	515	2	see	see	VERB
taxlaw-9799	515	3	elliott	elliott	PROPN
taxlaw-9799	515	4	,	,	PUNCT
taxlaw-9799	515	5	supra	supra	PROPN
taxlaw-9799	515	6	note	note	PROPN
taxlaw-9799	515	7	100	100	NUM
taxlaw-9799	515	8	,	,	PUNCT
taxlaw-9799	515	9	at	at	ADP
taxlaw-9799	515	10	374	374	NUM
taxlaw-9799	515	11	-	-	SYM
taxlaw-9799	515	12	75	75	NUM
taxlaw-9799	515	13	.	.	PUNCT
taxlaw-9799	516	1	137	137	NUM
taxlaw-9799	516	2	howard	howard	NOUN
taxlaw-9799	516	3	,	,	PUNCT
taxlaw-9799	516	4	supra	supra	PROPN
taxlaw-9799	516	5	note	note	NOUN
taxlaw-9799	516	6	95	95	NUM
taxlaw-9799	516	7	,	,	PUNCT
taxlaw-9799	516	8	at	at	ADP
taxlaw-9799	516	9	1366	1366	NUM
taxlaw-9799	516	10	.	.	PUNCT
taxlaw-9799	517	1	138	138	NUM
taxlaw-9799	517	2	i.r.s	i.r.s	PROPN
taxlaw-9799	517	3	.	.	PUNCT
taxlaw-9799	518	1	notice	notice	VERB
taxlaw-9799	518	2	2015	2015	NUM
taxlaw-9799	518	3	-	-	SYM
taxlaw-9799	518	4	59	59	NUM
taxlaw-9799	518	5	,	,	PUNCT
taxlaw-9799	518	6	2015	2015	NUM
taxlaw-9799	518	7	-	-	SYM
taxlaw-9799	518	8	2	2	NUM
taxlaw-9799	518	9	c.b	c.b	PROPN
taxlaw-9799	518	10	.	.	PROPN
taxlaw-9799	518	11	459	459	NUM
taxlaw-9799	518	12	.	.	PUNCT
taxlaw-9799	519	1	139	139	NUM
taxlaw-9799	520	1	i	i	PRON
taxlaw-9799	520	2	d.	d.	PROPN
taxlaw-9799	520	3	140	140	NUM
taxlaw-9799	520	4	see	see	VERB
taxlaw-9799	520	5	i	i	PRON
taxlaw-9799	520	6	d.	d.	PROPN
taxlaw-9799	520	7	141	141	NUM
taxlaw-9799	520	8	see	see	VERB
taxlaw-9799	520	9	i	i	PROPN
taxlaw-9799	520	10	d.	d.	PROPN
taxlaw-9799	520	11	189	189	NUM
taxlaw-9799	520	12	columbia	columbia	PROPN
taxlaw-9799	520	13	journal	journal	PROPN
taxlaw-9799	520	14	of	of	ADP
taxlaw-9799	520	15	tax	tax	NOUN
taxlaw-9799	520	16	law	law	NOUN
taxlaw-9799	521	1	[	[	X
taxlaw-9799	521	2	vol	vol	NOUN
taxlaw-9799	521	3	:	:	PUNCT
taxlaw-9799	521	4	13:2	13:2	NUM
taxlaw-9799	521	5	yahoo	yahoo	NOUN
taxlaw-9799	521	6	’s	’s	PART
taxlaw-9799	521	7	proposed	propose	VERB
taxlaw-9799	521	8	alibaba	alibaba	PROPN
taxlaw-9799	521	9	spin	spin	NOUN
taxlaw-9799	521	10	-	-	PUNCT
taxlaw-9799	521	11	off	off	NOUN
taxlaw-9799	521	12	involved	involve	VERB
taxlaw-9799	521	13	the	the	DET
taxlaw-9799	521	14	small	small	ADJ
taxlaw-9799	521	15	active	active	ADJ
taxlaw-9799	521	16	trade	trade	NOUN
taxlaw-9799	521	17	or	or	CCONJ
taxlaw-9799	521	18	business	business	NOUN
taxlaw-9799	521	19	issue	issue	NOUN
taxlaw-9799	521	20	—	—	PUNCT
taxlaw-9799	521	21	what	what	PRON
taxlaw-9799	521	22	some	some	PRON
taxlaw-9799	521	23	refer	refer	VERB
taxlaw-9799	521	24	to	to	ADP
taxlaw-9799	521	25	as	as	ADP
taxlaw-9799	521	26	a	a	DET
taxlaw-9799	521	27	“	"	PUNCT
taxlaw-9799	521	28	candy	candy	NOUN
taxlaw-9799	521	29	store	store	NOUN
taxlaw-9799	521	30	”	"	PUNCT
taxlaw-9799	521	31	or	or	CCONJ
taxlaw-9799	521	32	“	"	PUNCT
taxlaw-9799	521	33	hot	hot	ADJ
taxlaw-9799	521	34	dog	dog	NOUN
taxlaw-9799	521	35	stand”—and	stand”—and	PROPN
taxlaw-9799	521	36	resembled	resemble	VERB
taxlaw-9799	521	37	a	a	DET
taxlaw-9799	521	38	device	device	NOUN
taxlaw-9799	521	39	because	because	SCONJ
taxlaw-9799	521	40	the	the	DET
taxlaw-9799	521	41	spinco	spinco	NOUN
taxlaw-9799	521	42	was	be	AUX
taxlaw-9799	521	43	exceedingly	exceedingly	ADV
taxlaw-9799	521	44	investment	investment	NOUN
taxlaw-9799	521	45	-	-	PUNCT
taxlaw-9799	521	46	heavy.142	heavy.142	PROPN
taxlaw-9799	521	47	despite	despite	SCONJ
taxlaw-9799	521	48	its	its	PRON
taxlaw-9799	521	49	general	general	ADJ
taxlaw-9799	521	50	language	language	NOUN
taxlaw-9799	521	51	,	,	PUNCT
taxlaw-9799	521	52	it	it	PRON
taxlaw-9799	521	53	seemed	seem	VERB
taxlaw-9799	521	54	clear	clear	ADJ
taxlaw-9799	521	55	that	that	SCONJ
taxlaw-9799	521	56	the	the	DET
taxlaw-9799	521	57	i.r.s	i.r.	NOUN
taxlaw-9799	521	58	.	.	PUNCT
taxlaw-9799	521	59	’s	’s	PART
taxlaw-9799	521	60	notice	notice	NOUN
taxlaw-9799	521	61	was	be	AUX
taxlaw-9799	521	62	written	write	VERB
taxlaw-9799	521	63	partly	partly	ADV
taxlaw-9799	521	64	in	in	ADP
taxlaw-9799	521	65	response	response	NOUN
taxlaw-9799	521	66	to	to	ADP
taxlaw-9799	521	67	yahoo	yahoo	PROPN
taxlaw-9799	521	68	’s	’s	PART
taxlaw-9799	521	69	proposed	propose	VERB
taxlaw-9799	521	70	spin	spin	NOUN
taxlaw-9799	521	71	-	-	PUNCT
taxlaw-9799	521	72	off	off	NOUN
taxlaw-9799	521	73	.	.	PUNCT
taxlaw-9799	522	1	because	because	SCONJ
taxlaw-9799	522	2	of	of	ADP
taxlaw-9799	522	3	the	the	DET
taxlaw-9799	522	4	notice	notice	NOUN
taxlaw-9799	522	5	,	,	PUNCT
taxlaw-9799	522	6	yahoo	yahoo	PROPN
taxlaw-9799	522	7	abandoned	abandon	VERB
taxlaw-9799	522	8	its	its	PRON
taxlaw-9799	522	9	original	original	ADJ
taxlaw-9799	522	10	structure	structure	NOUN
taxlaw-9799	522	11	and	and	CCONJ
taxlaw-9799	522	12	pursued	pursue	VERB
taxlaw-9799	522	13	a	a	DET
taxlaw-9799	522	14	different	different	ADJ
taxlaw-9799	522	15	structure	structure	NOUN
taxlaw-9799	522	16	:	:	PUNCT
taxlaw-9799	522	17	a	a	DET
taxlaw-9799	522	18	reverse	reverse	NOUN
taxlaw-9799	522	19	spin	spin	NOUN
taxlaw-9799	522	20	-	-	PUNCT
taxlaw-9799	522	21	off	off	NOUN
taxlaw-9799	522	22	.	.	PUNCT
taxlaw-9799	523	1	143	143	NUM
taxlaw-9799	523	2	the	the	DET
taxlaw-9799	523	3	reverse	reverse	ADJ
taxlaw-9799	523	4	spin	spin	NOUN
taxlaw-9799	523	5	-	-	PUNCT
taxlaw-9799	523	6	off	off	NOUN
taxlaw-9799	523	7	was	be	AUX
taxlaw-9799	523	8	an	an	DET
taxlaw-9799	523	9	alternative	alternative	ADJ
taxlaw-9799	523	10	means	mean	NOUN
taxlaw-9799	523	11	of	of	ADP
taxlaw-9799	523	12	achieving	achieve	VERB
taxlaw-9799	523	13	a	a	DET
taxlaw-9799	523	14	similar	similar	ADJ
taxlaw-9799	523	15	result	result	NOUN
taxlaw-9799	523	16	in	in	ADP
taxlaw-9799	523	17	which	which	PRON
taxlaw-9799	523	18	yahoo	yahoo	NOUN
taxlaw-9799	523	19	would	would	AUX
taxlaw-9799	523	20	spin	spin	VERB
taxlaw-9799	523	21	off	off	ADP
taxlaw-9799	523	22	its	its	PRON
taxlaw-9799	523	23	core	core	NOUN
taxlaw-9799	523	24	assets	asset	NOUN
taxlaw-9799	523	25	,	,	PUNCT
taxlaw-9799	523	26	including	include	VERB
taxlaw-9799	523	27	its	its	PRON
taxlaw-9799	523	28	stake	stake	NOUN
taxlaw-9799	523	29	in	in	ADP
taxlaw-9799	523	30	yahoo	yahoo	PROPN
taxlaw-9799	523	31	japan	japan	PROPN
taxlaw-9799	523	32	:	:	PUNCT
taxlaw-9799	523	33	“	"	PUNCT
taxlaw-9799	523	34	yahoo	yahoo	PROPN
taxlaw-9799	523	35	’s	’s	PART
taxlaw-9799	523	36	assets	asset	NOUN
taxlaw-9799	523	37	and	and	CCONJ
taxlaw-9799	523	38	liabilities	liability	NOUN
taxlaw-9799	523	39	other	other	ADJ
taxlaw-9799	523	40	than	than	ADP
taxlaw-9799	523	41	the	the	DET
taxlaw-9799	523	42	alibaba	alibaba	PROPN
taxlaw-9799	523	43	stake	stake	NOUN
taxlaw-9799	523	44	would	would	AUX
taxlaw-9799	523	45	be	be	AUX
taxlaw-9799	523	46	transferred	transfer	VERB
taxlaw-9799	523	47	to	to	ADP
taxlaw-9799	523	48	a	a	DET
taxlaw-9799	523	49	newly	newly	ADV
taxlaw-9799	523	50	formed	form	VERB
taxlaw-9799	523	51	company	company	NOUN
taxlaw-9799	523	52	,	,	PUNCT
taxlaw-9799	523	53	the	the	DET
taxlaw-9799	523	54	stock	stock	NOUN
taxlaw-9799	523	55	of	of	ADP
taxlaw-9799	523	56	which	which	PRON
taxlaw-9799	523	57	would	would	AUX
taxlaw-9799	523	58	be	be	AUX
taxlaw-9799	523	59	distributed	distribute	VERB
taxlaw-9799	523	60	pro	pro	ADJ
taxlaw-9799	523	61	rata	rata	NOUN
taxlaw-9799	523	62	to	to	ADP
taxlaw-9799	523	63	yahoo	yahoo	PROPN
taxlaw-9799	523	64	shareholders	shareholder	NOUN
taxlaw-9799	523	65	resulting	result	VERB
taxlaw-9799	523	66	in	in	ADP
taxlaw-9799	523	67	two	two	NUM
taxlaw-9799	523	68	separate	separate	ADJ
taxlaw-9799	523	69	publicly	publicly	ADV
taxlaw-9799	523	70	-	-	PUNCT
taxlaw-9799	523	71	traded	trade	VERB
taxlaw-9799	523	72	companies	company	NOUN
taxlaw-9799	523	73	.	.	PUNCT
taxlaw-9799	523	74	”144	”144	PUNCT
taxlaw-9799	524	1	the	the	DET
taxlaw-9799	524	2	reverse	reverse	ADJ
taxlaw-9799	524	3	spin	spin	NOUN
taxlaw-9799	524	4	-	-	PUNCT
taxlaw-9799	524	5	off	off	NOUN
taxlaw-9799	524	6	would	would	AUX
taxlaw-9799	524	7	reduce	reduce	VERB
taxlaw-9799	524	8	the	the	DET
taxlaw-9799	524	9	potential	potential	ADJ
taxlaw-9799	524	10	tax	tax	NOUN
taxlaw-9799	524	11	liability	liability	NOUN
taxlaw-9799	524	12	but	but	CCONJ
taxlaw-9799	524	13	would	would	AUX
taxlaw-9799	524	14	not	not	PART
taxlaw-9799	524	15	address	address	VERB
taxlaw-9799	524	16	many	many	ADJ
taxlaw-9799	524	17	of	of	ADP
taxlaw-9799	524	18	the	the	DET
taxlaw-9799	524	19	concerns	concern	NOUN
taxlaw-9799	524	20	that	that	PRON
taxlaw-9799	524	21	the	the	DET
taxlaw-9799	524	22	i.r.s	i.r.	NOUN
taxlaw-9799	524	23	.	.	PUNCT
taxlaw-9799	524	24	raised	raise	VERB
taxlaw-9799	524	25	in	in	ADP
taxlaw-9799	524	26	the	the	DET
taxlaw-9799	524	27	notice.145	notice.145	NOUN
taxlaw-9799	524	28	according	accord	VERB
taxlaw-9799	524	29	to	to	ADP
taxlaw-9799	524	30	tax	tax	NOUN
taxlaw-9799	524	31	practitioners	practitioner	NOUN
taxlaw-9799	524	32	who	who	PRON
taxlaw-9799	524	33	were	be	AUX
taxlaw-9799	524	34	involved	involve	VERB
taxlaw-9799	524	35	in	in	ADP
taxlaw-9799	524	36	the	the	DET
taxlaw-9799	524	37	transaction	transaction	NOUN
taxlaw-9799	524	38	,	,	PUNCT
taxlaw-9799	524	39	although	although	SCONJ
taxlaw-9799	524	40	the	the	DET
taxlaw-9799	524	41	reverse	reverse	NOUN
taxlaw-9799	524	42	spin	spin	NOUN
taxlaw-9799	524	43	-	-	PUNCT
taxlaw-9799	524	44	off	off	NOUN
taxlaw-9799	524	45	was	be	AUX
taxlaw-9799	524	46	controversial	controversial	ADJ
taxlaw-9799	524	47	and	and	CCONJ
taxlaw-9799	524	48	included	include	VERB
taxlaw-9799	524	49	certain	certain	ADJ
taxlaw-9799	524	50	elements	element	NOUN
taxlaw-9799	524	51	of	of	ADP
taxlaw-9799	524	52	risk	risk	NOUN
taxlaw-9799	524	53	,	,	PUNCT
taxlaw-9799	524	54	skadden	skadden	ADJ
taxlaw-9799	524	55	and	and	CCONJ
taxlaw-9799	524	56	simpson	simpson	PROPN
taxlaw-9799	524	57	thacher	thacher	PROPN
taxlaw-9799	524	58	—	—	PUNCT
taxlaw-9799	524	59	which	which	PRON
taxlaw-9799	524	60	was	be	AUX
taxlaw-9799	524	61	also	also	ADV
taxlaw-9799	524	62	involved	involve	VERB
taxlaw-9799	524	63	in	in	ADP
taxlaw-9799	524	64	the	the	DET
taxlaw-9799	524	65	tax	tax	NOUN
taxlaw-9799	524	66	planning	planning	NOUN
taxlaw-9799	524	67	—	—	PUNCT
taxlaw-9799	524	68	both	both	PRON
taxlaw-9799	524	69	expressed	express	VERB
taxlaw-9799	524	70	confidence	confidence	NOUN
taxlaw-9799	524	71	that	that	SCONJ
taxlaw-9799	524	72	the	the	DET
taxlaw-9799	524	73	reverse	reverse	NOUN
taxlaw-9799	524	74	spin	spin	NOUN
taxlaw-9799	524	75	-	-	PUNCT
taxlaw-9799	524	76	off	off	NOUN
taxlaw-9799	524	77	would	would	AUX
taxlaw-9799	524	78	work	work	VERB
taxlaw-9799	524	79	.	.	PUNCT
taxlaw-9799	525	1	the	the	DET
taxlaw-9799	525	2	reverse	reverse	NOUN
taxlaw-9799	525	3	-	-	PUNCT
taxlaw-9799	525	4	spinoff	spinoff	NOUN
taxlaw-9799	525	5	,	,	PUNCT
taxlaw-9799	525	6	however	however	ADV
taxlaw-9799	525	7	,	,	PUNCT
taxlaw-9799	525	8	contained	contain	VERB
taxlaw-9799	525	9	many	many	ADJ
taxlaw-9799	525	10	of	of	ADP
taxlaw-9799	525	11	the	the	DET
taxlaw-9799	525	12	same	same	ADJ
taxlaw-9799	525	13	infirmities	infirmity	NOUN
taxlaw-9799	525	14	as	as	ADP
taxlaw-9799	525	15	the	the	DET
taxlaw-9799	525	16	original	original	ADJ
taxlaw-9799	525	17	spin	spin	NOUN
taxlaw-9799	525	18	-	-	PUNCT
taxlaw-9799	525	19	off	off	ADP
taxlaw-9799	525	20	structure	structure	NOUN
taxlaw-9799	525	21	,	,	PUNCT
taxlaw-9799	525	22	and	and	CCONJ
taxlaw-9799	525	23	ultimately	ultimately	ADV
taxlaw-9799	525	24	,	,	PUNCT
taxlaw-9799	525	25	yahoo	yahoo	PROPN
taxlaw-9799	525	26	determined	determine	VERB
taxlaw-9799	525	27	that	that	SCONJ
taxlaw-9799	525	28	the	the	DET
taxlaw-9799	525	29	likelihood	likelihood	NOUN
taxlaw-9799	525	30	was	be	AUX
taxlaw-9799	525	31	too	too	ADV
taxlaw-9799	525	32	high	high	ADJ
taxlaw-9799	525	33	that	that	SCONJ
taxlaw-9799	525	34	the	the	DET
taxlaw-9799	525	35	i.r.s	i.r.	NOUN
taxlaw-9799	525	36	.	.	PUNCT
taxlaw-9799	526	1	142	142	NUM
taxlaw-9799	526	2	see	see	VERB
taxlaw-9799	526	3	amy	amy	PROPN
taxlaw-9799	526	4	s.	s.	PROPN
taxlaw-9799	526	5	elliott	elliott	PROPN
taxlaw-9799	526	6	,	,	PUNCT
taxlaw-9799	526	7	hot	hot	ADJ
taxlaw-9799	526	8	dog	dog	NOUN
taxlaw-9799	526	9	stand	stand	NOUN
taxlaw-9799	526	10	guidance	guidance	NOUN
taxlaw-9799	526	11	will	will	AUX
taxlaw-9799	526	12	expand	expand	VERB
taxlaw-9799	526	13	on	on	ADP
taxlaw-9799	526	14	factor	factor	NOUN
taxlaw-9799	526	15	in	in	ADP
taxlaw-9799	526	16	device	device	NOUN
taxlaw-9799	526	17	regs	reg	NOUN
taxlaw-9799	526	18	,	,	PUNCT
taxlaw-9799	526	19	151	151	NUM
taxlaw-9799	526	20	tax	tax	NOUN
taxlaw-9799	526	21	notes	note	NOUN
taxlaw-9799	526	22	1458	1458	NUM
taxlaw-9799	526	23	,	,	PUNCT
taxlaw-9799	526	24	1458	1458	NUM
taxlaw-9799	526	25	-	-	SYM
taxlaw-9799	526	26	59	59	NUM
taxlaw-9799	526	27	(	(	PUNCT
taxlaw-9799	526	28	june	june	PROPN
taxlaw-9799	526	29	13	13	NUM
taxlaw-9799	526	30	,	,	PUNCT
taxlaw-9799	526	31	2016	2016	NUM
taxlaw-9799	526	32	)	)	PUNCT
taxlaw-9799	526	33	.	.	PUNCT
taxlaw-9799	527	1	the	the	DET
taxlaw-9799	527	2	policy	policy	NOUN
taxlaw-9799	527	3	behind	behind	ADP
taxlaw-9799	527	4	the	the	DET
taxlaw-9799	527	5	2006	2006	NUM
taxlaw-9799	527	6	enactment	enactment	NOUN
taxlaw-9799	527	7	of	of	ADP
taxlaw-9799	527	8	section	section	NOUN
taxlaw-9799	527	9	355(g	355(g	PROPN
taxlaw-9799	527	10	)	)	PUNCT
taxlaw-9799	527	11	,	,	PUNCT
taxlaw-9799	527	12	which	which	PRON
taxlaw-9799	527	13	prohibits	prohibit	VERB
taxlaw-9799	527	14	“	"	PUNCT
taxlaw-9799	527	15	cash	cash	NOUN
taxlaw-9799	527	16	-	-	PUNCT
taxlaw-9799	527	17	rich	rich	ADJ
taxlaw-9799	527	18	”	"	PUNCT
taxlaw-9799	527	19	split	split	NOUN
taxlaw-9799	527	20	-	-	PUNCT
taxlaw-9799	527	21	offs	off	NOUN
taxlaw-9799	527	22	,	,	PUNCT
taxlaw-9799	527	23	is	be	AUX
taxlaw-9799	527	24	similar	similar	ADJ
taxlaw-9799	527	25	to	to	ADP
taxlaw-9799	527	26	the	the	DET
taxlaw-9799	527	27	rationale	rationale	NOUN
taxlaw-9799	527	28	underlying	underlie	VERB
taxlaw-9799	527	29	the	the	DET
taxlaw-9799	527	30	regulatory	regulatory	ADJ
taxlaw-9799	527	31	response	response	NOUN
taxlaw-9799	527	32	to	to	ADP
taxlaw-9799	527	33	yahoo	yahoo	PROPN
taxlaw-9799	527	34	’s	’s	PART
taxlaw-9799	527	35	proposed	propose	VERB
taxlaw-9799	527	36	spin	spin	NOUN
taxlaw-9799	527	37	-	-	PUNCT
taxlaw-9799	527	38	off	off	NOUN
taxlaw-9799	527	39	of	of	ADP
taxlaw-9799	527	40	alibaba	alibaba	PROPN
taxlaw-9799	527	41	.	.	PUNCT
taxlaw-9799	528	1	section	section	NOUN
taxlaw-9799	528	2	355(g	355(g	PROPN
taxlaw-9799	528	3	)	)	PUNCT
taxlaw-9799	528	4	limits	limit	VERB
taxlaw-9799	528	5	the	the	DET
taxlaw-9799	528	6	amount	amount	NOUN
taxlaw-9799	528	7	of	of	ADP
taxlaw-9799	528	8	investment	investment	NOUN
taxlaw-9799	528	9	assets	asset	NOUN
taxlaw-9799	528	10	(	(	PUNCT
taxlaw-9799	528	11	that	that	PRON
taxlaw-9799	528	12	is	be	AUX
taxlaw-9799	528	13	,	,	PUNCT
taxlaw-9799	528	14	cash	cash	NOUN
taxlaw-9799	528	15	,	,	PUNCT
taxlaw-9799	528	16	corporate	corporate	ADJ
taxlaw-9799	528	17	securities	security	NOUN
taxlaw-9799	528	18	,	,	PUNCT
taxlaw-9799	528	19	debt	debt	NOUN
taxlaw-9799	528	20	instruments	instrument	NOUN
taxlaw-9799	528	21	,	,	PUNCT
taxlaw-9799	528	22	options	option	NOUN
taxlaw-9799	528	23	,	,	PUNCT
taxlaw-9799	528	24	forward	forward	ADV
taxlaw-9799	528	25	or	or	CCONJ
taxlaw-9799	528	26	futures	future	NOUN
taxlaw-9799	528	27	contracts	contract	NOUN
taxlaw-9799	528	28	,	,	PUNCT
taxlaw-9799	528	29	notional	notional	ADJ
taxlaw-9799	528	30	principal	principal	ADJ
taxlaw-9799	528	31	contracts	contract	NOUN
taxlaw-9799	528	32	,	,	PUNCT
taxlaw-9799	528	33	derivatives	derivative	NOUN
taxlaw-9799	528	34	,	,	PUNCT
taxlaw-9799	528	35	foreign	foreign	ADJ
taxlaw-9799	528	36	currencies	currency	NOUN
taxlaw-9799	528	37	,	,	PUNCT
taxlaw-9799	528	38	or	or	CCONJ
taxlaw-9799	528	39	assets	asset	NOUN
taxlaw-9799	528	40	of	of	ADP
taxlaw-9799	528	41	a	a	DET
taxlaw-9799	528	42	like	like	ADJ
taxlaw-9799	528	43	nature	nature	NOUN
taxlaw-9799	528	44	)	)	PUNCT
taxlaw-9799	528	45	that	that	SCONJ
taxlaw-9799	528	46	either	either	CCONJ
taxlaw-9799	528	47	parent	parent	NOUN
taxlaw-9799	528	48	or	or	CCONJ
taxlaw-9799	528	49	spinco	spinco	NOUN
taxlaw-9799	528	50	may	may	AUX
taxlaw-9799	528	51	own	own	VERB
taxlaw-9799	528	52	immediately	immediately	ADV
taxlaw-9799	528	53	after	after	ADP
taxlaw-9799	528	54	a	a	DET
taxlaw-9799	528	55	distribution	distribution	NOUN
taxlaw-9799	528	56	.	.	PUNCT
taxlaw-9799	529	1	see	see	VERB
taxlaw-9799	529	2	§	§	PROPN
taxlaw-9799	529	3	355(g	355(g	PROPN
taxlaw-9799	529	4	)	)	PUNCT
taxlaw-9799	529	5	.	.	PUNCT
taxlaw-9799	530	1	section	section	NOUN
taxlaw-9799	530	2	355	355	NUM
taxlaw-9799	530	3	does	do	AUX
taxlaw-9799	530	4	not	not	PART
taxlaw-9799	530	5	apply	apply	VERB
taxlaw-9799	530	6	to	to	ADP
taxlaw-9799	530	7	“	"	PUNCT
taxlaw-9799	530	8	any	any	DET
taxlaw-9799	530	9	distribution	distribution	NOUN
taxlaw-9799	530	10	which	which	PRON
taxlaw-9799	530	11	is	be	AUX
taxlaw-9799	530	12	part	part	NOUN
taxlaw-9799	530	13	of	of	ADP
taxlaw-9799	530	14	a	a	DET
taxlaw-9799	530	15	transaction	transaction	NOUN
taxlaw-9799	530	16	if	if	SCONJ
taxlaw-9799	530	17	(	(	PUNCT
taxlaw-9799	530	18	a	a	X
taxlaw-9799	530	19	)	)	PUNCT
taxlaw-9799	530	20	either	either	CCONJ
taxlaw-9799	530	21	the	the	DET
taxlaw-9799	530	22	distributing	distribute	VERB
taxlaw-9799	530	23	corporation	corporation	NOUN
taxlaw-9799	530	24	or	or	CCONJ
taxlaw-9799	530	25	controlled	control	VERB
taxlaw-9799	530	26	corporation	corporation	NOUN
taxlaw-9799	530	27	is	be	AUX
taxlaw-9799	530	28	,	,	PUNCT
taxlaw-9799	530	29	immediately	immediately	ADV
taxlaw-9799	530	30	after	after	ADP
taxlaw-9799	530	31	the	the	DET
taxlaw-9799	530	32	transaction	transaction	NOUN
taxlaw-9799	530	33	,	,	PUNCT
taxlaw-9799	530	34	a	a	DET
taxlaw-9799	530	35	disqualified	disqualified	ADJ
taxlaw-9799	530	36	investment	investment	NOUN
taxlaw-9799	530	37	corporation	corporation	NOUN
taxlaw-9799	530	38	,	,	PUNCT
taxlaw-9799	530	39	and	and	CCONJ
taxlaw-9799	530	40	(	(	PUNCT
taxlaw-9799	530	41	b	b	X
taxlaw-9799	530	42	)	)	PUNCT
taxlaw-9799	530	43	any	any	DET
taxlaw-9799	530	44	person	person	NOUN
taxlaw-9799	530	45	holds	hold	VERB
taxlaw-9799	530	46	,	,	PUNCT
taxlaw-9799	530	47	immediately	immediately	ADV
taxlaw-9799	530	48	after	after	ADP
taxlaw-9799	530	49	the	the	DET
taxlaw-9799	530	50	transaction	transaction	NOUN
taxlaw-9799	530	51	,	,	PUNCT
taxlaw-9799	530	52	a	a	DET
taxlaw-9799	530	53	50	50	NUM
taxlaw-9799	530	54	-	-	PUNCT
taxlaw-9799	530	55	percent	percent	NOUN
taxlaw-9799	530	56	or	or	CCONJ
taxlaw-9799	530	57	greater	great	ADJ
taxlaw-9799	530	58	interest	interest	NOUN
taxlaw-9799	530	59	in	in	ADP
taxlaw-9799	530	60	any	any	DET
taxlaw-9799	530	61	disqualified	disqualify	VERB
taxlaw-9799	530	62	investment	investment	NOUN
taxlaw-9799	530	63	corporation	corporation	NOUN
taxlaw-9799	530	64	,	,	PUNCT
taxlaw-9799	530	65	but	but	CCONJ
taxlaw-9799	530	66	only	only	ADV
taxlaw-9799	530	67	if	if	SCONJ
taxlaw-9799	530	68	such	such	ADJ
taxlaw-9799	530	69	person	person	NOUN
taxlaw-9799	530	70	did	do	AUX
taxlaw-9799	530	71	not	not	PART
taxlaw-9799	530	72	hold	hold	VERB
taxlaw-9799	530	73	such	such	DET
taxlaw-9799	530	74	an	an	DET
taxlaw-9799	530	75	interest	interest	NOUN
taxlaw-9799	530	76	in	in	ADP
taxlaw-9799	530	77	such	such	ADJ
taxlaw-9799	530	78	corporation	corporation	NOUN
taxlaw-9799	530	79	immediately	immediately	ADV
taxlaw-9799	530	80	before	before	ADP
taxlaw-9799	530	81	the	the	DET
taxlaw-9799	530	82	transaction	transaction	NOUN
taxlaw-9799	530	83	.	.	PUNCT
taxlaw-9799	530	84	”	"	PUNCT
taxlaw-9799	531	1	§	§	PROPN
taxlaw-9799	531	2	355(g)(1	355(g)(1	NUM
taxlaw-9799	531	3	)	)	PUNCT
taxlaw-9799	531	4	.	.	PUNCT
taxlaw-9799	532	1	a	a	DET
taxlaw-9799	532	2	disqualified	disqualify	VERB
taxlaw-9799	532	3	investment	investment	NOUN
taxlaw-9799	532	4	corporation	corporation	NOUN
taxlaw-9799	532	5	is	be	AUX
taxlaw-9799	532	6	any	any	DET
taxlaw-9799	532	7	corporation	corporation	NOUN
taxlaw-9799	532	8	in	in	ADP
taxlaw-9799	532	9	which	which	PRON
taxlaw-9799	532	10	the	the	DET
taxlaw-9799	532	11	fair	fair	ADJ
taxlaw-9799	532	12	market	market	NOUN
taxlaw-9799	532	13	value	value	NOUN
taxlaw-9799	532	14	of	of	ADP
taxlaw-9799	532	15	its	its	PRON
taxlaw-9799	532	16	investment	investment	NOUN
taxlaw-9799	532	17	assets	asset	NOUN
taxlaw-9799	532	18	is	be	AUX
taxlaw-9799	532	19	equal	equal	ADJ
taxlaw-9799	532	20	to	to	ADP
taxlaw-9799	532	21	or	or	CCONJ
taxlaw-9799	532	22	greater	great	ADJ
taxlaw-9799	532	23	than	than	ADP
taxlaw-9799	532	24	two	two	NUM
taxlaw-9799	532	25	-	-	PUNCT
taxlaw-9799	532	26	thirds	third	NOUN
taxlaw-9799	532	27	of	of	ADP
taxlaw-9799	532	28	the	the	DET
taxlaw-9799	532	29	fair	fair	ADJ
taxlaw-9799	532	30	market	market	NOUN
taxlaw-9799	532	31	value	value	NOUN
taxlaw-9799	532	32	of	of	ADP
taxlaw-9799	532	33	all	all	PRON
taxlaw-9799	532	34	of	of	ADP
taxlaw-9799	532	35	its	its	PRON
taxlaw-9799	532	36	assets	asset	NOUN
taxlaw-9799	532	37	.	.	PUNCT
taxlaw-9799	533	1	§	§	PROPN
taxlaw-9799	533	2	355(g)(2)(a	355(g)(2)(a	PROPN
taxlaw-9799	533	3	)	)	PUNCT
taxlaw-9799	533	4	.	.	PUNCT
taxlaw-9799	534	1	before	before	SCONJ
taxlaw-9799	534	2	the	the	DET
taxlaw-9799	534	3	enactment	enactment	NOUN
taxlaw-9799	534	4	of	of	ADP
taxlaw-9799	534	5	section	section	NOUN
taxlaw-9799	534	6	355(g	355(g	PROPN
taxlaw-9799	534	7	)	)	PUNCT
taxlaw-9799	534	8	prohibiting	prohibit	VERB
taxlaw-9799	534	9	“	"	PUNCT
taxlaw-9799	534	10	cash	cash	NOUN
taxlaw-9799	534	11	-	-	PUNCT
taxlaw-9799	534	12	rich	rich	ADJ
taxlaw-9799	534	13	”	"	PUNCT
taxlaw-9799	534	14	split	split	NOUN
taxlaw-9799	534	15	-	-	PUNCT
taxlaw-9799	534	16	offs	off	NOUN
taxlaw-9799	534	17	,	,	PUNCT
taxlaw-9799	534	18	a	a	DET
taxlaw-9799	534	19	shareholder	shareholder	NOUN
taxlaw-9799	534	20	of	of	ADP
taxlaw-9799	534	21	parent	parent	NOUN
taxlaw-9799	534	22	could	could	AUX
taxlaw-9799	534	23	exchange	exchange	VERB
taxlaw-9799	534	24	its	its	PRON
taxlaw-9799	534	25	stock	stock	NOUN
taxlaw-9799	534	26	in	in	ADP
taxlaw-9799	534	27	the	the	DET
taxlaw-9799	534	28	parent	parent	NOUN
taxlaw-9799	534	29	for	for	ADP
taxlaw-9799	534	30	stock	stock	NOUN
taxlaw-9799	534	31	of	of	ADP
taxlaw-9799	534	32	a	a	DET
taxlaw-9799	534	33	controlled	control	VERB
taxlaw-9799	534	34	subsidiary	subsidiary	NOUN
taxlaw-9799	534	35	holding	hold	VERB
taxlaw-9799	534	36	a	a	DET
taxlaw-9799	534	37	substantial	substantial	ADJ
taxlaw-9799	534	38	amount	amount	NOUN
taxlaw-9799	534	39	of	of	ADP
taxlaw-9799	534	40	cash	cash	NOUN
taxlaw-9799	534	41	or	or	CCONJ
taxlaw-9799	534	42	other	other	ADJ
taxlaw-9799	534	43	liquid	liquid	ADJ
taxlaw-9799	534	44	assets	asset	NOUN
taxlaw-9799	534	45	in	in	ADP
taxlaw-9799	534	46	proportion	proportion	NOUN
taxlaw-9799	534	47	to	to	ADP
taxlaw-9799	534	48	its	its	PRON
taxlaw-9799	534	49	other	other	ADJ
taxlaw-9799	534	50	assets	asset	NOUN
taxlaw-9799	534	51	in	in	ADP
taxlaw-9799	534	52	a	a	DET
taxlaw-9799	534	53	transaction	transaction	NOUN
taxlaw-9799	534	54	intended	intend	VERB
taxlaw-9799	534	55	to	to	PART
taxlaw-9799	534	56	qualify	qualify	VERB
taxlaw-9799	534	57	for	for	ADP
taxlaw-9799	534	58	nonrecognition	nonrecognition	NOUN
taxlaw-9799	534	59	treatment	treatment	NOUN
taxlaw-9799	534	60	under	under	ADP
taxlaw-9799	534	61	section	section	NOUN
taxlaw-9799	534	62	355	355	NUM
taxlaw-9799	534	63	.	.	PUNCT
taxlaw-9799	535	1	see	see	VERB
taxlaw-9799	535	2	report	report	NOUN
taxlaw-9799	535	3	no	no	DET
taxlaw-9799	535	4	.	.	NOUN
taxlaw-9799	535	5	1342	1342	NUM
taxlaw-9799	535	6	,	,	PUNCT
taxlaw-9799	535	7	supra	supra	NOUN
taxlaw-9799	535	8	note	note	NOUN
taxlaw-9799	535	9	3	3	NUM
taxlaw-9799	535	10	,	,	PUNCT
taxlaw-9799	535	11	at	at	ADP
taxlaw-9799	535	12	26	26	NUM
taxlaw-9799	535	13	.	.	PUNCT
taxlaw-9799	536	1	congress	congress	PROPN
taxlaw-9799	536	2	enacted	enact	VERB
taxlaw-9799	536	3	section	section	NOUN
taxlaw-9799	536	4	355(g	355(g	PROPN
taxlaw-9799	536	5	)	)	PUNCT
taxlaw-9799	536	6	to	to	AUX
taxlaw-9799	536	7	disallow	disallow	VERB
taxlaw-9799	536	8	transactions	transaction	NOUN
taxlaw-9799	536	9	that	that	PRON
taxlaw-9799	536	10	resemble	resemble	VERB
taxlaw-9799	536	11	cash	cash	NOUN
taxlaw-9799	536	12	redemptions	redemption	NOUN
taxlaw-9799	536	13	of	of	ADP
taxlaw-9799	536	14	the	the	DET
taxlaw-9799	536	15	stock	stock	NOUN
taxlaw-9799	536	16	in	in	ADP
taxlaw-9799	536	17	distributing	distribute	VERB
taxlaw-9799	536	18	that	that	PRON
taxlaw-9799	536	19	is	be	AUX
taxlaw-9799	536	20	held	hold	VERB
taxlaw-9799	536	21	by	by	ADP
taxlaw-9799	536	22	a	a	DET
taxlaw-9799	536	23	large	large	ADJ
taxlaw-9799	536	24	shareholder	shareholder	NOUN
taxlaw-9799	536	25	.	.	PUNCT
taxlaw-9799	537	1	see	see	VERB
taxlaw-9799	537	2	i	i	PRON
taxlaw-9799	537	3	d.	d.	PROPN
taxlaw-9799	537	4	the	the	DET
taxlaw-9799	537	5	government	government	NOUN
taxlaw-9799	537	6	was	be	AUX
taxlaw-9799	537	7	concerned	concerned	ADJ
taxlaw-9799	537	8	about	about	ADP
taxlaw-9799	537	9	transactions	transaction	NOUN
taxlaw-9799	537	10	intended	intend	VERB
taxlaw-9799	537	11	to	to	PART
taxlaw-9799	537	12	cash	cash	VERB
taxlaw-9799	537	13	out	out	ADP
taxlaw-9799	537	14	large	large	ADJ
taxlaw-9799	537	15	shareholders	shareholder	NOUN
taxlaw-9799	537	16	on	on	ADP
taxlaw-9799	537	17	a	a	DET
taxlaw-9799	537	18	tax	tax	NOUN
taxlaw-9799	537	19	-	-	PUNCT
taxlaw-9799	537	20	free	free	ADJ
taxlaw-9799	537	21	basis	basis	NOUN
taxlaw-9799	537	22	by	by	ADP
taxlaw-9799	537	23	having	have	VERB
taxlaw-9799	537	24	distributing	distribute	VERB
taxlaw-9799	537	25	contribute	contribute	VERB
taxlaw-9799	537	26	the	the	DET
taxlaw-9799	537	27	sale	sale	NOUN
taxlaw-9799	537	28	consideration	consideration	NOUN
taxlaw-9799	537	29	to	to	ADP
taxlaw-9799	537	30	a	a	DET
taxlaw-9799	537	31	controlled	control	VERB
taxlaw-9799	537	32	corporation	corporation	NOUN
taxlaw-9799	537	33	and	and	CCONJ
taxlaw-9799	537	34	splitting	split	VERB
taxlaw-9799	537	35	it	it	PRON
taxlaw-9799	537	36	off	off	ADP
taxlaw-9799	537	37	under	under	ADP
taxlaw-9799	537	38	section	section	NOUN
taxlaw-9799	537	39	355	355	NUM
taxlaw-9799	537	40	to	to	ADP
taxlaw-9799	537	41	the	the	DET
taxlaw-9799	537	42	shareholder	shareholder	NOUN
taxlaw-9799	537	43	in	in	ADP
taxlaw-9799	537	44	exchange	exchange	NOUN
taxlaw-9799	537	45	for	for	ADP
taxlaw-9799	537	46	the	the	DET
taxlaw-9799	537	47	shareholder	shareholder	NOUN
taxlaw-9799	537	48	’s	’s	PART
taxlaw-9799	537	49	distributing	distribute	VERB
taxlaw-9799	537	50	shares	share	NOUN
taxlaw-9799	537	51	.	.	PUNCT
taxlaw-9799	538	1	see	see	VERB
taxlaw-9799	538	2	i	i	PRON
taxlaw-9799	538	3	d.	d.	PROPN
taxlaw-9799	538	4	143	143	PROPN
taxlaw-9799	538	5	see	see	VERB
taxlaw-9799	538	6	kim	kim	PROPN
taxlaw-9799	538	7	&	&	CCONJ
taxlaw-9799	538	8	min	min	PROPN
taxlaw-9799	538	9	,	,	PUNCT
taxlaw-9799	538	10	supra	supra	PROPN
taxlaw-9799	538	11	note	note	NOUN
taxlaw-9799	538	12	120	120	NUM
taxlaw-9799	538	13	,	,	PUNCT
taxlaw-9799	538	14	at	at	ADP
taxlaw-9799	538	15	16	16	NUM
taxlaw-9799	538	16	-	-	SYM
taxlaw-9799	538	17	17	17	NUM
taxlaw-9799	538	18	.	.	PUNCT
taxlaw-9799	539	1	144	144	NUM
taxlaw-9799	539	2	yahoo	yahoo	PROPN
taxlaw-9799	539	3	provides	provide	VERB
taxlaw-9799	539	4	update	update	NOUN
taxlaw-9799	539	5	on	on	ADP
taxlaw-9799	539	6	planned	plan	VERB
taxlaw-9799	539	7	spin	spin	NOUN
taxlaw-9799	539	8	off	off	ADP
taxlaw-9799	539	9	of	of	ADP
taxlaw-9799	539	10	remaining	remain	VERB
taxlaw-9799	539	11	stake	stake	NOUN
taxlaw-9799	539	12	in	in	ADP
taxlaw-9799	539	13	alibaba	alibaba	PROPN
taxlaw-9799	539	14	group	group	NOUN
taxlaw-9799	539	15	,	,	PUNCT
taxlaw-9799	539	16	ex	ex	PROPN
taxlaw-9799	539	17	.	.	PROPN
taxlaw-9799	539	18	99.1	99.1	NUM
taxlaw-9799	539	19	,	,	PUNCT
taxlaw-9799	539	20	https://www.sec.gov/archives/edgar/data/1011006/000119312515398244/d93711dex991.htm	https://www.sec.gov/archives/edgar/data/1011006/000119312515398244/d93711dex991.htm	PROPN
taxlaw-9799	540	1	[	[	X
taxlaw-9799	540	2	https://perma.cc/qey9-b266	https://perma.cc/qey9-b266	ADP
taxlaw-9799	540	3	]	]	PUNCT
taxlaw-9799	540	4	.	.	PUNCT
taxlaw-9799	541	1	145	145	NUM
taxlaw-9799	541	2	see	see	VERB
taxlaw-9799	541	3	alan	alan	PROPN
taxlaw-9799	541	4	s.	s.	PROPN
taxlaw-9799	541	5	kaden	kaden	PROPN
taxlaw-9799	541	6	&	&	CCONJ
taxlaw-9799	541	7	michael	michael	PROPN
taxlaw-9799	541	8	j.	j.	PROPN
taxlaw-9799	541	9	alter	alter	PROPN
taxlaw-9799	541	10	,	,	PUNCT
taxlaw-9799	541	11	2015	2015	NUM
taxlaw-9799	541	12	in	in	ADP
taxlaw-9799	541	13	review	review	NOUN
taxlaw-9799	541	14	:	:	PUNCT
taxlaw-9799	541	15	tax	tax	NOUN
taxlaw-9799	541	16	regulators	regulator	NOUN
taxlaw-9799	541	17	attempt	attempt	VERB
taxlaw-9799	541	18	to	to	PART
taxlaw-9799	541	19	strike	strike	VERB
taxlaw-9799	541	20	back	back	ADV
taxlaw-9799	541	21	,	,	PUNCT
taxlaw-9799	541	22	law360	law360	PROPN
taxlaw-9799	541	23	(	(	PUNCT
taxlaw-9799	541	24	jan	jan	PROPN
taxlaw-9799	541	25	.	.	PROPN
taxlaw-9799	541	26	4	4	NUM
taxlaw-9799	541	27	,	,	PUNCT
taxlaw-9799	541	28	2016	2016	NUM
taxlaw-9799	541	29	)	)	PUNCT
taxlaw-9799	541	30	.	.	PUNCT
taxlaw-9799	542	1	2022	2022	NUM
taxlaw-9799	542	2	]	]	PUNCT
taxlaw-9799	542	3	conglomerate	conglomerate	NOUN
taxlaw-9799	542	4	spin	spin	NOUN
taxlaw-9799	542	5	-	-	PUNCT
taxlaw-9799	542	6	offs	off	NOUN
taxlaw-9799	542	7	190	190	NUM
taxlaw-9799	542	8	might	might	AUX
taxlaw-9799	542	9	end	end	VERB
taxlaw-9799	542	10	up	up	ADP
taxlaw-9799	542	11	challenging	challenge	VERB
taxlaw-9799	542	12	the	the	DET
taxlaw-9799	542	13	transaction	transaction	NOUN
taxlaw-9799	542	14	’s	’s	PART
taxlaw-9799	542	15	tax	tax	NOUN
taxlaw-9799	542	16	-	-	PUNCT
taxlaw-9799	542	17	free	free	ADJ
taxlaw-9799	542	18	status	status	NOUN
taxlaw-9799	542	19	—	—	PUNCT
taxlaw-9799	542	20	placing	place	VERB
taxlaw-9799	542	21	billions	billion	NOUN
taxlaw-9799	542	22	in	in	ADP
taxlaw-9799	542	23	tax	tax	NOUN
taxlaw-9799	542	24	liability	liability	NOUN
taxlaw-9799	542	25	at	at	ADP
taxlaw-9799	542	26	stake.146	stake.146	PROPN
taxlaw-9799	542	27	thus	thus	ADV
taxlaw-9799	542	28	,	,	PUNCT
taxlaw-9799	542	29	yahoo	yahoo	PROPN
taxlaw-9799	542	30	abandoned	abandon	VERB
taxlaw-9799	542	31	the	the	DET
taxlaw-9799	542	32	reverse	reverse	NOUN
taxlaw-9799	542	33	spin	spin	NOUN
taxlaw-9799	542	34	-	-	PUNCT
taxlaw-9799	542	35	off	off	NOUN
taxlaw-9799	542	36	as	as	ADV
taxlaw-9799	542	37	well	well	ADV
taxlaw-9799	542	38	.	.	PUNCT
taxlaw-9799	543	1	as	as	SCONJ
taxlaw-9799	543	2	i	i	PRON
taxlaw-9799	543	3	mentioned	mention	VERB
taxlaw-9799	543	4	above	above	ADV
taxlaw-9799	543	5	,	,	PUNCT
taxlaw-9799	543	6	the	the	DET
taxlaw-9799	543	7	government	government	NOUN
taxlaw-9799	543	8	issued	issue	VERB
taxlaw-9799	543	9	the	the	DET
taxlaw-9799	543	10	2016	2016	NUM
taxlaw-9799	543	11	proposed	propose	VERB
taxlaw-9799	543	12	regulations	regulation	NOUN
taxlaw-9799	543	13	,	,	PUNCT
taxlaw-9799	543	14	likely	likely	ADJ
taxlaw-9799	543	15	in	in	ADP
taxlaw-9799	543	16	response	response	NOUN
taxlaw-9799	543	17	to	to	ADP
taxlaw-9799	543	18	yahoo	yahoo	PROPN
taxlaw-9799	543	19	’s	’s	PART
taxlaw-9799	543	20	high	high	ADJ
taxlaw-9799	543	21	-	-	PUNCT
taxlaw-9799	543	22	profile	profile	NOUN
taxlaw-9799	543	23	proposed	propose	VERB
taxlaw-9799	543	24	spin	spin	NOUN
taxlaw-9799	543	25	-	-	PUNCT
taxlaw-9799	543	26	off,147	off,147	NOUN
taxlaw-9799	543	27	to	to	PART
taxlaw-9799	543	28	offer	offer	VERB
taxlaw-9799	543	29	guidance	guidance	NOUN
taxlaw-9799	543	30	concerning	concern	VERB
taxlaw-9799	543	31	certain	certain	ADJ
taxlaw-9799	543	32	statutory	statutory	ADJ
taxlaw-9799	543	33	requirements	requirement	NOUN
taxlaw-9799	543	34	under	under	ADP
taxlaw-9799	543	35	section	section	NOUN
taxlaw-9799	543	36	355.148	355.148	PROPN
taxlaw-9799	543	37	although	although	SCONJ
taxlaw-9799	543	38	not	not	PART
taxlaw-9799	543	39	authoritative	authoritative	ADJ
taxlaw-9799	543	40	,	,	PUNCT
taxlaw-9799	543	41	the	the	DET
taxlaw-9799	543	42	2016	2016	NUM
taxlaw-9799	543	43	proposed	propose	VERB
taxlaw-9799	543	44	regulations	regulation	NOUN
taxlaw-9799	543	45	announced	announce	VERB
taxlaw-9799	543	46	potentially	potentially	ADV
taxlaw-9799	543	47	significant	significant	ADJ
taxlaw-9799	543	48	policy	policy	NOUN
taxlaw-9799	543	49	changes	change	NOUN
taxlaw-9799	543	50	with	with	ADP
taxlaw-9799	543	51	respect	respect	NOUN
taxlaw-9799	543	52	to	to	ADP
taxlaw-9799	543	53	the	the	DET
taxlaw-9799	543	54	device	device	NOUN
taxlaw-9799	543	55	test	test	NOUN
taxlaw-9799	543	56	and	and	CCONJ
taxlaw-9799	543	57	the	the	DET
taxlaw-9799	543	58	minimum	minimum	ADJ
taxlaw-9799	543	59	size	size	NOUN
taxlaw-9799	543	60	for	for	ADP
taxlaw-9799	543	61	an	an	DET
taxlaw-9799	543	62	active	active	ADJ
taxlaw-9799	543	63	business	business	NOUN
taxlaw-9799	543	64	.	.	PUNCT
taxlaw-9799	544	1	the	the	DET
taxlaw-9799	544	2	i.r.s	i.r.s	PROPN
taxlaw-9799	544	3	.	.	PUNCT
taxlaw-9799	544	4	introduced	introduce	VERB
taxlaw-9799	544	5	a	a	DET
taxlaw-9799	544	6	device	device	NOUN
taxlaw-9799	544	7	test	test	NOUN
taxlaw-9799	544	8	with	with	ADP
taxlaw-9799	544	9	two	two	NUM
taxlaw-9799	544	10	prongs	prong	NOUN
taxlaw-9799	544	11	that	that	PRON
taxlaw-9799	544	12	,	,	PUNCT
taxlaw-9799	544	13	if	if	SCONJ
taxlaw-9799	544	14	met	meet	VERB
taxlaw-9799	544	15	,	,	PUNCT
taxlaw-9799	544	16	would	would	AUX
taxlaw-9799	544	17	render	render	VERB
taxlaw-9799	544	18	a	a	DET
taxlaw-9799	544	19	distribution	distribution	NOUN
taxlaw-9799	544	20	a	a	DET
taxlaw-9799	544	21	“	"	PUNCT
taxlaw-9799	544	22	per	per	X
taxlaw-9799	544	23	se	se	X
taxlaw-9799	544	24	device	device	NOUN
taxlaw-9799	544	25	.	.	PUNCT
taxlaw-9799	544	26	”	"	PUNCT
taxlaw-9799	545	1	a	a	DET
taxlaw-9799	545	2	spin	spin	NOUN
taxlaw-9799	545	3	-	-	PUNCT
taxlaw-9799	545	4	off	off	NOUN
taxlaw-9799	545	5	would	would	AUX
taxlaw-9799	545	6	now	now	ADV
taxlaw-9799	545	7	be	be	AUX
taxlaw-9799	545	8	deemed	deem	VERB
taxlaw-9799	545	9	a	a	DET
taxlaw-9799	545	10	per	per	X
taxlaw-9799	545	11	se	se	X
taxlaw-9799	545	12	device	device	NOUN
taxlaw-9799	545	13	if	if	SCONJ
taxlaw-9799	545	14	1	1	NUM
taxlaw-9799	545	15	)	)	PUNCT
taxlaw-9799	545	16	distributing	distribute	VERB
taxlaw-9799	545	17	or	or	CCONJ
taxlaw-9799	545	18	controlled	control	VERB
taxlaw-9799	545	19	has	have	VERB
taxlaw-9799	545	20	a	a	DET
taxlaw-9799	545	21	nonbusiness	nonbusiness	ADJ
taxlaw-9799	545	22	asset	asset	NOUN
taxlaw-9799	545	23	percentage	percentage	NOUN
taxlaw-9799	545	24	of	of	ADP
taxlaw-9799	545	25	662/3	662/3	NUM
taxlaw-9799	545	26	%	%	NOUN
taxlaw-9799	545	27	or	or	CCONJ
taxlaw-9799	545	28	more	more	ADJ
taxlaw-9799	545	29	of	of	ADP
taxlaw-9799	545	30	the	the	DET
taxlaw-9799	545	31	total	total	ADJ
taxlaw-9799	545	32	assets	asset	NOUN
taxlaw-9799	545	33	and	and	CCONJ
taxlaw-9799	545	34	2	2	NUM
taxlaw-9799	545	35	)	)	PUNCT
taxlaw-9799	545	36	the	the	DET
taxlaw-9799	545	37	nonbusiness	nonbusiness	NOUN
taxlaw-9799	545	38	assets	asset	NOUN
taxlaw-9799	545	39	percentage	percentage	NOUN
taxlaw-9799	545	40	of	of	ADP
taxlaw-9799	545	41	distributing	distribute	VERB
taxlaw-9799	545	42	or	or	CCONJ
taxlaw-9799	545	43	controlled	control	VERB
taxlaw-9799	545	44	is	be	AUX
taxlaw-9799	545	45	a	a	DET
taxlaw-9799	545	46	)	)	PUNCT
taxlaw-9799	545	47	662/3	662/3	NUM
taxlaw-9799	545	48	%	%	NOUN
taxlaw-9799	545	49	or	or	CCONJ
taxlaw-9799	545	50	more	more	ADJ
taxlaw-9799	545	51	but	but	CCONJ
taxlaw-9799	545	52	less	less	ADJ
taxlaw-9799	545	53	than	than	ADP
taxlaw-9799	545	54	80	80	NUM
taxlaw-9799	545	55	%	%	NOUN
taxlaw-9799	545	56	of	of	ADP
taxlaw-9799	545	57	the	the	DET
taxlaw-9799	545	58	total	total	ADJ
taxlaw-9799	545	59	assets	asset	NOUN
taxlaw-9799	545	60	,	,	PUNCT
taxlaw-9799	545	61	and	and	CCONJ
taxlaw-9799	545	62	the	the	DET
taxlaw-9799	545	63	nonbusiness	nonbusiness	NOUN
taxlaw-9799	545	64	assets	asset	NOUN
taxlaw-9799	545	65	percentage	percentage	NOUN
taxlaw-9799	545	66	of	of	ADP
taxlaw-9799	545	67	the	the	DET
taxlaw-9799	545	68	other	other	ADJ
taxlaw-9799	545	69	corporation	corporation	NOUN
taxlaw-9799	545	70	is	be	AUX
taxlaw-9799	545	71	less	less	ADJ
taxlaw-9799	545	72	than	than	ADP
taxlaw-9799	545	73	30	30	NUM
taxlaw-9799	545	74	%	%	NOUN
taxlaw-9799	545	75	of	of	ADP
taxlaw-9799	545	76	the	the	DET
taxlaw-9799	545	77	total	total	ADJ
taxlaw-9799	545	78	assets	asset	NOUN
taxlaw-9799	545	79	,	,	PUNCT
taxlaw-9799	545	80	b	b	NOUN
taxlaw-9799	545	81	)	)	PUNCT
taxlaw-9799	545	82	80	80	NUM
taxlaw-9799	545	83	%	%	NOUN
taxlaw-9799	545	84	or	or	CCONJ
taxlaw-9799	545	85	more	more	ADJ
taxlaw-9799	545	86	but	but	CCONJ
taxlaw-9799	545	87	less	less	ADJ
taxlaw-9799	545	88	than	than	ADP
taxlaw-9799	545	89	90	90	NUM
taxlaw-9799	545	90	%	%	NOUN
taxlaw-9799	545	91	of	of	ADP
taxlaw-9799	545	92	the	the	DET
taxlaw-9799	545	93	total	total	ADJ
taxlaw-9799	545	94	assets	asset	NOUN
taxlaw-9799	545	95	,	,	PUNCT
taxlaw-9799	545	96	and	and	CCONJ
taxlaw-9799	545	97	the	the	DET
taxlaw-9799	545	98	nonbusiness	nonbusiness	NOUN
taxlaw-9799	545	99	assets	asset	NOUN
taxlaw-9799	545	100	percentage	percentage	NOUN
taxlaw-9799	545	101	of	of	ADP
taxlaw-9799	545	102	the	the	DET
taxlaw-9799	545	103	other	other	ADJ
taxlaw-9799	545	104	corporation	corporation	NOUN
taxlaw-9799	545	105	is	be	AUX
taxlaw-9799	545	106	less	less	ADJ
taxlaw-9799	545	107	than	than	ADP
taxlaw-9799	545	108	40	40	NUM
taxlaw-9799	545	109	%	%	NOUN
taxlaw-9799	545	110	of	of	ADP
taxlaw-9799	545	111	the	the	DET
taxlaw-9799	545	112	total	total	ADJ
taxlaw-9799	545	113	assets	asset	NOUN
taxlaw-9799	545	114	,	,	PUNCT
taxlaw-9799	545	115	or	or	CCONJ
taxlaw-9799	545	116	c	c	X
taxlaw-9799	545	117	)	)	PUNCT
taxlaw-9799	545	118	90	90	NUM
taxlaw-9799	545	119	%	%	NOUN
taxlaw-9799	545	120	or	or	CCONJ
taxlaw-9799	545	121	more	more	ADJ
taxlaw-9799	545	122	of	of	ADP
taxlaw-9799	545	123	the	the	DET
taxlaw-9799	545	124	total	total	ADJ
taxlaw-9799	545	125	assets	asset	NOUN
taxlaw-9799	545	126	,	,	PUNCT
taxlaw-9799	545	127	and	and	CCONJ
taxlaw-9799	545	128	the	the	DET
taxlaw-9799	545	129	nonbusiness	nonbusiness	NOUN
taxlaw-9799	545	130	assets	asset	NOUN
taxlaw-9799	545	131	percentage	percentage	NOUN
taxlaw-9799	545	132	of	of	ADP
taxlaw-9799	545	133	the	the	DET
taxlaw-9799	545	134	other	other	ADJ
taxlaw-9799	545	135	corporation	corporation	NOUN
taxlaw-9799	545	136	is	be	AUX
taxlaw-9799	545	137	less	less	ADJ
taxlaw-9799	545	138	than	than	ADP
taxlaw-9799	545	139	50	50	NUM
taxlaw-9799	545	140	%	%	NOUN
taxlaw-9799	545	141	of	of	ADP
taxlaw-9799	545	142	the	the	DET
taxlaw-9799	545	143	total	total	ADJ
taxlaw-9799	545	144	assets.149	assets.149	PROPN
taxlaw-9799	545	145	as	as	SCONJ
taxlaw-9799	545	146	discussed	discuss	VERB
taxlaw-9799	545	147	in	in	ADP
taxlaw-9799	545	148	part	part	NOUN
taxlaw-9799	545	149	ii	ii	NOUN
taxlaw-9799	545	150	above	above	ADV
taxlaw-9799	545	151	,	,	PUNCT
taxlaw-9799	545	152	the	the	DET
taxlaw-9799	545	153	active	active	ADJ
taxlaw-9799	545	154	trade	trade	NOUN
taxlaw-9799	545	155	or	or	CCONJ
taxlaw-9799	545	156	business	business	NOUN
taxlaw-9799	545	157	requirement	requirement	NOUN
taxlaw-9799	545	158	previously	previously	ADV
taxlaw-9799	545	159	could	could	AUX
taxlaw-9799	545	160	be	be	AUX
taxlaw-9799	545	161	satisfied	satisfied	ADJ
taxlaw-9799	545	162	regardless	regardless	ADV
taxlaw-9799	545	163	of	of	ADP
taxlaw-9799	545	164	the	the	DET
taxlaw-9799	545	165	size	size	NOUN
taxlaw-9799	545	166	of	of	ADP
taxlaw-9799	545	167	the	the	DET
taxlaw-9799	545	168	historic	historic	ADJ
taxlaw-9799	545	169	active	active	ADJ
taxlaw-9799	545	170	trade	trade	NOUN
taxlaw-9799	545	171	or	or	CCONJ
taxlaw-9799	545	172	business	business	NOUN
taxlaw-9799	545	173	assets	asset	NOUN
taxlaw-9799	545	174	in	in	ADP
taxlaw-9799	545	175	comparison	comparison	NOUN
taxlaw-9799	545	176	to	to	ADP
taxlaw-9799	545	177	the	the	DET
taxlaw-9799	545	178	nonbusiness	nonbusiness	NOUN
taxlaw-9799	545	179	assets	asset	NOUN
taxlaw-9799	545	180	held	hold	VERB
taxlaw-9799	545	181	by	by	ADP
taxlaw-9799	545	182	distributing	distribute	VERB
taxlaw-9799	545	183	and	and	CCONJ
taxlaw-9799	545	184	controlled.150	controlled.150	ADJ
taxlaw-9799	545	185	under	under	ADP
taxlaw-9799	545	186	the	the	DET
taxlaw-9799	545	187	2016	2016	NUM
taxlaw-9799	545	188	proposed	propose	VERB
taxlaw-9799	545	189	regulations	regulation	NOUN
taxlaw-9799	545	190	,	,	PUNCT
taxlaw-9799	545	191	however	however	ADV
taxlaw-9799	545	192	,	,	PUNCT
taxlaw-9799	545	193	a	a	DET
taxlaw-9799	545	194	spin	spin	NOUN
taxlaw-9799	545	195	-	-	PUNCT
taxlaw-9799	545	196	off	off	NOUN
taxlaw-9799	545	197	would	would	AUX
taxlaw-9799	545	198	be	be	AUX
taxlaw-9799	545	199	deemed	deem	VERB
taxlaw-9799	545	200	a	a	DET
taxlaw-9799	545	201	per	per	X
taxlaw-9799	545	202	se	se	X
taxlaw-9799	545	203	device	device	NOUN
taxlaw-9799	545	204	if	if	SCONJ
taxlaw-9799	545	205	the	the	DET
taxlaw-9799	545	206	proportion	proportion	NOUN
taxlaw-9799	545	207	of	of	ADP
taxlaw-9799	545	208	nonbusiness	nonbusiness	ADJ
taxlaw-9799	545	209	assets	asset	NOUN
taxlaw-9799	545	210	to	to	PART
taxlaw-9799	545	211	total	total	ADJ
taxlaw-9799	545	212	assets	asset	NOUN
taxlaw-9799	545	213	met	meet	VERB
taxlaw-9799	545	214	this	this	DET
taxlaw-9799	545	215	new	new	ADJ
taxlaw-9799	545	216	bright	bright	ADJ
taxlaw-9799	545	217	-	-	PUNCT
taxlaw-9799	545	218	line	line	NOUN
taxlaw-9799	545	219	,	,	PUNCT
taxlaw-9799	545	220	two	two	NUM
taxlaw-9799	545	221	-	-	PUNCT
taxlaw-9799	545	222	prong	prong	NOUN
taxlaw-9799	545	223	test	test	NOUN
taxlaw-9799	545	224	.	.	PUNCT
taxlaw-9799	546	1	similarly	similarly	ADV
taxlaw-9799	546	2	,	,	PUNCT
taxlaw-9799	546	3	the	the	DET
taxlaw-9799	546	4	proposed	propose	VERB
taxlaw-9799	546	5	regulations	regulation	NOUN
taxlaw-9799	546	6	stated	state	VERB
taxlaw-9799	546	7	that	that	SCONJ
taxlaw-9799	546	8	for	for	SCONJ
taxlaw-9799	546	9	the	the	DET
taxlaw-9799	546	10	requirements	requirement	NOUN
taxlaw-9799	546	11	of	of	ADP
taxlaw-9799	546	12	sections	section	NOUN
taxlaw-9799	546	13	355(a)(1)(c	355(a)(1)(c	NUM
taxlaw-9799	546	14	)	)	PUNCT
taxlaw-9799	546	15	and	and	CCONJ
taxlaw-9799	546	16	355(b	355(b	PROPN
taxlaw-9799	546	17	)	)	PUNCT
taxlaw-9799	546	18	to	to	PART
taxlaw-9799	546	19	be	be	AUX
taxlaw-9799	546	20	satisfied	satisfied	ADJ
taxlaw-9799	546	21	,	,	PUNCT
taxlaw-9799	546	22	the	the	DET
taxlaw-9799	546	23	five	five	NUM
taxlaw-9799	546	24	-	-	PUNCT
taxlaw-9799	546	25	year	year	NOUN
taxlaw-9799	546	26	-	-	PUNCT
taxlaw-9799	546	27	active	active	ADJ
taxlaw-9799	546	28	-	-	PUNCT
taxlaw-9799	546	29	business	business	NOUN
taxlaw-9799	546	30	asset	asset	NOUN
taxlaw-9799	546	31	percentage	percentage	NOUN
taxlaw-9799	546	32	of	of	ADP
taxlaw-9799	546	33	each	each	PRON
taxlaw-9799	546	34	of	of	ADP
taxlaw-9799	546	35	controlled	control	VERB
taxlaw-9799	546	36	and	and	CCONJ
taxlaw-9799	546	37	distributing	distribute	VERB
taxlaw-9799	546	38	must	must	AUX
taxlaw-9799	546	39	be	be	AUX
taxlaw-9799	546	40	at	at	ADV
taxlaw-9799	546	41	least	least	ADV
taxlaw-9799	546	42	5	5	NUM
taxlaw-9799	546	43	%	%	NOUN
taxlaw-9799	546	44	of	of	ADP
taxlaw-9799	546	45	their	their	PRON
taxlaw-9799	546	46	total	total	ADJ
taxlaw-9799	546	47	assets.151	assets.151	NOUN
taxlaw-9799	546	48	although	although	SCONJ
taxlaw-9799	546	49	yahoo	yahoo	PROPN
taxlaw-9799	546	50	’s	’s	PART
taxlaw-9799	546	51	preferred	preferred	ADJ
taxlaw-9799	546	52	transactional	transactional	ADJ
taxlaw-9799	546	53	structure	structure	NOUN
taxlaw-9799	546	54	,	,	PUNCT
taxlaw-9799	546	55	a	a	DET
taxlaw-9799	546	56	tax	tax	NOUN
taxlaw-9799	546	57	-	-	PUNCT
taxlaw-9799	546	58	free	free	ADJ
taxlaw-9799	546	59	spin	spin	NOUN
taxlaw-9799	546	60	-	-	PUNCT
taxlaw-9799	546	61	off	off	NOUN
taxlaw-9799	546	62	,	,	PUNCT
taxlaw-9799	546	63	and	and	CCONJ
taxlaw-9799	546	64	alternative	alternative	ADJ
taxlaw-9799	546	65	structure	structure	NOUN
taxlaw-9799	546	66	,	,	PUNCT
taxlaw-9799	546	67	a	a	DET
taxlaw-9799	546	68	tax	tax	NOUN
taxlaw-9799	546	69	-	-	PUNCT
taxlaw-9799	546	70	free	free	ADJ
taxlaw-9799	546	71	reverse	reverse	NOUN
taxlaw-9799	546	72	spin	spin	NOUN
taxlaw-9799	546	73	-	-	PUNCT
taxlaw-9799	546	74	off	off	NOUN
taxlaw-9799	546	75	,	,	PUNCT
taxlaw-9799	546	76	were	be	AUX
taxlaw-9799	546	77	both	both	CCONJ
taxlaw-9799	546	78	unsuccessful	unsuccessful	ADJ
taxlaw-9799	546	79	because	because	SCONJ
taxlaw-9799	546	80	of	of	ADP
taxlaw-9799	546	81	the	the	DET
taxlaw-9799	546	82	i.r.s	i.r.	NOUN
taxlaw-9799	546	83	.	.	PROPN
taxlaw-9799	546	84	’s	’s	PART
taxlaw-9799	546	85	resistance	resistance	NOUN
taxlaw-9799	546	86	through	through	ADP
taxlaw-9799	546	87	its	its	PRON
taxlaw-9799	546	88	tightening	tightening	NOUN
taxlaw-9799	546	89	of	of	ADP
taxlaw-9799	546	90	the	the	DET
taxlaw-9799	546	91	tax	tax	NOUN
taxlaw-9799	546	92	rules	rule	NOUN
taxlaw-9799	546	93	in	in	ADP
taxlaw-9799	546	94	the	the	DET
taxlaw-9799	546	95	2016	2016	NUM
taxlaw-9799	546	96	proposed	propose	VERB
taxlaw-9799	546	97	regulations	regulation	NOUN
taxlaw-9799	546	98	,	,	PUNCT
taxlaw-9799	546	99	yahoo	yahoo	PROPN
taxlaw-9799	546	100	did	do	AUX
taxlaw-9799	546	101	not	not	PART
taxlaw-9799	546	102	give	give	VERB
taxlaw-9799	546	103	up	up	ADP
taxlaw-9799	546	104	and	and	CCONJ
taxlaw-9799	546	105	resign	resign	VERB
taxlaw-9799	546	106	itself	itself	PRON
taxlaw-9799	546	107	to	to	ADP
taxlaw-9799	546	108	retaining	retain	VERB
taxlaw-9799	546	109	its	its	PRON
taxlaw-9799	546	110	conglomerate	conglomerate	NOUN
taxlaw-9799	546	111	form	form	NOUN
taxlaw-9799	546	112	.	.	PUNCT
taxlaw-9799	547	1	in	in	ADP
taxlaw-9799	547	2	2017	2017	NUM
taxlaw-9799	547	3	,	,	PUNCT
taxlaw-9799	547	4	the	the	DET
taxlaw-9799	547	5	company	company	NOUN
taxlaw-9799	547	6	pursued	pursue	VERB
taxlaw-9799	547	7	a	a	DET
taxlaw-9799	547	8	different	different	ADJ
taxlaw-9799	547	9	strategy	strategy	NOUN
taxlaw-9799	547	10	and	and	CCONJ
taxlaw-9799	547	11	sold	sell	VERB
taxlaw-9799	547	12	its	its	PRON
taxlaw-9799	547	13	core	core	NOUN
taxlaw-9799	547	14	internet	internet	NOUN
taxlaw-9799	547	15	business	business	NOUN
taxlaw-9799	547	16	to	to	ADP
taxlaw-9799	547	17	verizon	verizon	PROPN
taxlaw-9799	547	18	communications	communication	NOUN
taxlaw-9799	547	19	for	for	ADP
taxlaw-9799	547	20	$	$	SYM
taxlaw-9799	547	21	4.48	4.48	NUM
taxlaw-9799	547	22	billion	billion	NUM
taxlaw-9799	547	23	in	in	ADP
taxlaw-9799	547	24	a	a	DET
taxlaw-9799	547	25	taxable	taxable	ADJ
taxlaw-9799	547	26	transaction.152	transaction.152	PROPN
taxlaw-9799	547	27	yahoo	yahoo	PROPN
taxlaw-9799	547	28	’s	’s	PART
taxlaw-9799	547	29	stockholders	stockholder	NOUN
taxlaw-9799	547	30	retained	retain	VERB
taxlaw-9799	547	31	shares	share	NOUN
taxlaw-9799	547	32	in	in	ADP
taxlaw-9799	547	33	a	a	DET
taxlaw-9799	547	34	new	new	ADJ
taxlaw-9799	547	35	company	company	NOUN
taxlaw-9799	547	36	called	call	VERB
taxlaw-9799	547	37	altaba	altaba	NOUN
taxlaw-9799	547	38	,	,	PUNCT
taxlaw-9799	547	39	which	which	PRON
taxlaw-9799	547	40	then	then	ADV
taxlaw-9799	547	41	146	146	NUM
taxlaw-9799	547	42	see	see	VERB
taxlaw-9799	547	43	kim	kim	PROPN
taxlaw-9799	547	44	&	&	CCONJ
taxlaw-9799	547	45	min	min	PROPN
taxlaw-9799	547	46	,	,	PUNCT
taxlaw-9799	547	47	supra	supra	PROPN
taxlaw-9799	547	48	note	note	NOUN
taxlaw-9799	547	49	120	120	NUM
taxlaw-9799	547	50	,	,	PUNCT
taxlaw-9799	547	51	at	at	ADP
taxlaw-9799	547	52	17	17	NUM
taxlaw-9799	547	53	.	.	PUNCT
taxlaw-9799	548	1	147	147	NUM
taxlaw-9799	548	2	see	see	VERB
taxlaw-9799	548	3	brett	brett	PROPN
taxlaw-9799	548	4	wells	wells	PROPN
taxlaw-9799	548	5	,	,	PUNCT
taxlaw-9799	548	6	reform	reform	NOUN
taxlaw-9799	548	7	of	of	ADP
taxlaw-9799	548	8	section	section	NOUN
taxlaw-9799	548	9	355	355	NUM
taxlaw-9799	548	10	,	,	PUNCT
taxlaw-9799	548	11	68	68	NUM
taxlaw-9799	548	12	am	am	NOUN
taxlaw-9799	548	13	.	.	PUNCT
taxlaw-9799	549	1	u.	u.	PROPN
taxlaw-9799	549	2	l.	l.	PROPN
taxlaw-9799	549	3	rev	rev	PROPN
taxlaw-9799	549	4	.	.	PROPN
taxlaw-9799	549	5	447	447	NUM
taxlaw-9799	549	6	,	,	PUNCT
taxlaw-9799	549	7	491	491	NUM
taxlaw-9799	549	8	-	-	SYM
taxlaw-9799	549	9	93	93	NUM
taxlaw-9799	549	10	(	(	PUNCT
taxlaw-9799	549	11	2018	2018	NUM
taxlaw-9799	549	12	)	)	PUNCT
taxlaw-9799	549	13	.	.	PUNCT
taxlaw-9799	550	1	148	148	NUM
taxlaw-9799	550	2	see	see	VERB
taxlaw-9799	550	3	prop	prop	NOUN
taxlaw-9799	550	4	.	.	PUNCT
taxlaw-9799	551	1	treas	treas	PROPN
taxlaw-9799	551	2	.	.	PUNCT
taxlaw-9799	552	1	reg	reg	PROPN
taxlaw-9799	552	2	.	.	PUNCT
taxlaw-9799	553	1	§	§	PROPN
taxlaw-9799	553	2	1.355	1.355	NUM
taxlaw-9799	553	3	-	-	SYM
taxlaw-9799	553	4	9	9	NUM
taxlaw-9799	553	5	,	,	PUNCT
taxlaw-9799	553	6	supra	supra	ADJ
taxlaw-9799	553	7	note	note	NOUN
taxlaw-9799	553	8	44	44	NUM
taxlaw-9799	553	9	.	.	NOUN
taxlaw-9799	553	10	149	149	NUM
taxlaw-9799	554	1	i	i	PRON
taxlaw-9799	554	2	d.	d.	PROPN
taxlaw-9799	554	3	see	see	VERB
taxlaw-9799	554	4	also	also	ADV
taxlaw-9799	554	5	laurence	laurence	PROPN
taxlaw-9799	554	6	m.	m.	PROPN
taxlaw-9799	554	7	bambino	bambino	PROPN
taxlaw-9799	554	8	et	et	PROPN
taxlaw-9799	554	9	al	al	PROPN
taxlaw-9799	554	10	.	.	PROPN
taxlaw-9799	554	11	,	,	PUNCT
taxlaw-9799	554	12	treasury	treasury	PROPN
taxlaw-9799	554	13	and	and	CCONJ
taxlaw-9799	554	14	irs	irs	PROPN
taxlaw-9799	554	15	issue	issue	VERB
taxlaw-9799	554	16	new	new	ADJ
taxlaw-9799	554	17	spin	spin	NOUN
taxlaw-9799	554	18	-	-	PUNCT
taxlaw-9799	554	19	off	off	NOUN
taxlaw-9799	554	20	proposed	propose	VERB
taxlaw-9799	554	21	treasury	treasury	NOUN
taxlaw-9799	554	22	regulation	regulation	NOUN
taxlaw-9799	554	23	on	on	ADP
taxlaw-9799	554	24	device	device	NOUN
taxlaw-9799	554	25	and	and	CCONJ
taxlaw-9799	554	26	active	active	ADJ
taxlaw-9799	554	27	trade	trade	NOUN
taxlaw-9799	554	28	or	or	CCONJ
taxlaw-9799	554	29	business	business	NOUN
taxlaw-9799	554	30	requirements	requirement	NOUN
taxlaw-9799	554	31	,	,	PUNCT
taxlaw-9799	554	32	sherman	sherman	PROPN
taxlaw-9799	554	33	&	&	CCONJ
taxlaw-9799	554	34	sterling	sterling	PROPN
taxlaw-9799	554	35	llp	llp	PROPN
taxlaw-9799	554	36	(	(	PUNCT
taxlaw-9799	554	37	july	july	PROPN
taxlaw-9799	554	38	15	15	NUM
taxlaw-9799	554	39	,	,	PUNCT
taxlaw-9799	554	40	2016	2016	NUM
taxlaw-9799	554	41	)	)	PUNCT
taxlaw-9799	554	42	,	,	PUNCT
taxlaw-9799	554	43	https://www.shearman.com/media/files/newsinsights/publications/2016/07/treasury-and-irs-issuenew-spinoff-proposed-treasury-regulations-on-device-and-active-trade-or-business-requirementstax-071516.pdf	https://www.shearman.com/media/files/newsinsights/publications/2016/07/treasury-and-irs-issuenew-spinoff-proposed-treasury-regulations-on-device-and-active-trade-or-business-requirementstax-071516.pdf	VERB
taxlaw-9799	555	1	[	[	X
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taxlaw-9799	555	4	.	.	PUNCT
taxlaw-9799	556	1	150	150	NUM
taxlaw-9799	556	2	see	see	NOUN
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taxlaw-9799	556	4	.	.	PUNCT
taxlaw-9799	557	1	rul	rul	NOUN
taxlaw-9799	557	2	.	.	PUNCT
taxlaw-9799	558	1	73	73	NUM
taxlaw-9799	558	2	-	-	SYM
taxlaw-9799	558	3	44	44	NUM
taxlaw-9799	558	4	,	,	PUNCT
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taxlaw-9799	558	6	-	-	SYM
taxlaw-9799	558	7	1	1	NUM
taxlaw-9799	558	8	c.b	c.b	PROPN
taxlaw-9799	558	9	.	.	PROPN
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taxlaw-9799	559	1	see	see	VERB
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taxlaw-9799	559	7	147	147	NUM
taxlaw-9799	559	8	,	,	PUNCT
taxlaw-9799	559	9	at	at	ADP
taxlaw-9799	559	10	491	491	NUM
taxlaw-9799	559	11	-	-	SYM
taxlaw-9799	559	12	93	93	NUM
taxlaw-9799	559	13	.	.	PUNCT
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taxlaw-9799	560	4	.	.	PUNCT
taxlaw-9799	561	1	treas	treas	PROPN
taxlaw-9799	561	2	.	.	PUNCT
taxlaw-9799	562	1	reg	reg	PROPN
taxlaw-9799	562	2	.	.	PUNCT
taxlaw-9799	563	1	§	§	PROPN
taxlaw-9799	563	2	1.355	1.355	NUM
taxlaw-9799	563	3	-	-	SYM
taxlaw-9799	563	4	9	9	NUM
taxlaw-9799	563	5	,	,	PUNCT
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taxlaw-9799	563	17	$	$	SYM
taxlaw-9799	563	18	4.48	4.48	NUM
taxlaw-9799	563	19	billion	billion	NUM
taxlaw-9799	563	20	purchase	purchase	NOUN
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taxlaw-9799	563	26	era	era	NOUN
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taxlaw-9799	563	28	n.y	n.y	PROPN
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taxlaw-9799	563	30	times	times	PROPN
taxlaw-9799	563	31	(	(	PUNCT
taxlaw-9799	563	32	june	june	PROPN
taxlaw-9799	563	33	13	13	NUM
taxlaw-9799	563	34	,	,	PUNCT
taxlaw-9799	563	35	2017	2017	NUM
taxlaw-9799	563	36	)	)	PUNCT
taxlaw-9799	563	37	,	,	PUNCT
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taxlaw-9799	563	42	.	.	PUNCT
taxlaw-9799	564	1	191	191	NUM
taxlaw-9799	564	2	columbia	columbia	PROPN
taxlaw-9799	564	3	journal	journal	PROPN
taxlaw-9799	564	4	of	of	ADP
taxlaw-9799	564	5	tax	tax	NOUN
taxlaw-9799	564	6	law	law	NOUN
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taxlaw-9799	565	2	vol	vol	NOUN
taxlaw-9799	565	3	:	:	PUNCT
taxlaw-9799	565	4	13:2	13:2	NUM
taxlaw-9799	565	5	owned	own	VERB
taxlaw-9799	565	6	a	a	DET
taxlaw-9799	565	7	$	$	SYM
taxlaw-9799	565	8	52	52	NUM
taxlaw-9799	565	9	billion	billion	NUM
taxlaw-9799	565	10	stake	stake	NOUN
taxlaw-9799	565	11	in	in	ADP
taxlaw-9799	565	12	alibaba	alibaba	PROPN
taxlaw-9799	565	13	and	and	CCONJ
taxlaw-9799	565	14	a	a	DET
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taxlaw-9799	565	16	9	9	NUM
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taxlaw-9799	565	18	stake	stake	NOUN
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taxlaw-9799	565	27	firm	firm	NOUN
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taxlaw-9799	565	34	media	medium	NOUN
taxlaw-9799	565	35	business	business	NOUN
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taxlaw-9799	565	43	deal	deal	NOUN
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taxlaw-9799	565	52	it	it	PRON
taxlaw-9799	565	53	hopes	hope	VERB
taxlaw-9799	565	54	to	to	PART
taxlaw-9799	565	55	capture	capture	VERB
taxlaw-9799	565	56	value	value	NOUN
taxlaw-9799	565	57	by	by	ADP
taxlaw-9799	565	58	increasing	increase	VERB
taxlaw-9799	565	59	focus	focus	NOUN
taxlaw-9799	565	60	on	on	ADP
taxlaw-9799	565	61	the	the	DET
taxlaw-9799	565	62	individual	individual	ADJ
taxlaw-9799	565	63	media	medium	NOUN
taxlaw-9799	565	64	brands	brand	NOUN
taxlaw-9799	565	65	that	that	PRON
taxlaw-9799	565	66	have	have	AUX
taxlaw-9799	565	67	been	be	AUX
taxlaw-9799	565	68	“	"	PUNCT
taxlaw-9799	565	69	lost	lose	VERB
taxlaw-9799	565	70	inside	inside	ADP
taxlaw-9799	565	71	a	a	DET
taxlaw-9799	565	72	large	large	ADJ
taxlaw-9799	565	73	corporate	corporate	ADJ
taxlaw-9799	565	74	empire	empire	NOUN
taxlaw-9799	565	75	.	.	PUNCT
taxlaw-9799	565	76	”155	”155	PUNCT
taxlaw-9799	566	1	proposed	propose	VERB
taxlaw-9799	566	2	regulations	regulation	NOUN
taxlaw-9799	566	3	offer	offer	VERB
taxlaw-9799	566	4	only	only	ADV
taxlaw-9799	566	5	non	non	ADJ
taxlaw-9799	566	6	-	-	ADJ
taxlaw-9799	566	7	binding	binding	ADJ
taxlaw-9799	566	8	guidance	guidance	NOUN
taxlaw-9799	566	9	to	to	ADP
taxlaw-9799	566	10	taxpayers	taxpayer	NOUN
taxlaw-9799	566	11	.	.	PUNCT
taxlaw-9799	567	1	the	the	DET
taxlaw-9799	567	2	i.r.s	i.r.	NOUN
taxlaw-9799	567	3	.	.	PUNCT
taxlaw-9799	568	1	never	never	ADV
taxlaw-9799	568	2	finalized	finalize	VERB
taxlaw-9799	568	3	the	the	DET
taxlaw-9799	568	4	2016	2016	NUM
taxlaw-9799	568	5	proposed	propose	VERB
taxlaw-9799	568	6	regulations	regulation	NOUN
taxlaw-9799	568	7	that	that	PRON
taxlaw-9799	568	8	dissuaded	dissuade	VERB
taxlaw-9799	568	9	yahoo	yahoo	PROPN
taxlaw-9799	568	10	from	from	ADP
taxlaw-9799	568	11	pursuing	pursue	VERB
taxlaw-9799	568	12	a	a	DET
taxlaw-9799	568	13	spin	spin	NOUN
taxlaw-9799	568	14	-	-	PUNCT
taxlaw-9799	568	15	off	off	NOUN
taxlaw-9799	568	16	or	or	CCONJ
taxlaw-9799	568	17	reverse	reverse	VERB
taxlaw-9799	568	18	spin	spin	NOUN
taxlaw-9799	568	19	-	-	PUNCT
taxlaw-9799	568	20	off	off	NOUN
taxlaw-9799	568	21	.	.	PUNCT
taxlaw-9799	569	1	thus	thus	ADV
taxlaw-9799	569	2	,	,	PUNCT
taxlaw-9799	569	3	they	they	PRON
taxlaw-9799	569	4	expired	expire	VERB
taxlaw-9799	569	5	in	in	ADP
taxlaw-9799	569	6	2019	2019	NUM
taxlaw-9799	569	7	,	,	PUNCT
taxlaw-9799	569	8	three	three	NUM
taxlaw-9799	569	9	years	year	NOUN
taxlaw-9799	569	10	after	after	ADP
taxlaw-9799	569	11	their	their	PRON
taxlaw-9799	569	12	issuance	issuance	NOUN
taxlaw-9799	569	13	.	.	PUNCT
taxlaw-9799	570	1	does	do	AUX
taxlaw-9799	570	2	this	this	PRON
taxlaw-9799	570	3	mean	mean	VERB
taxlaw-9799	570	4	that	that	SCONJ
taxlaw-9799	570	5	a	a	DET
taxlaw-9799	570	6	conglomerate	conglomerate	NOUN
taxlaw-9799	570	7	wishing	wish	VERB
taxlaw-9799	570	8	to	to	PART
taxlaw-9799	570	9	pursue	pursue	VERB
taxlaw-9799	570	10	a	a	DET
taxlaw-9799	570	11	strategy	strategy	NOUN
taxlaw-9799	570	12	like	like	ADP
taxlaw-9799	570	13	liberty	liberty	NOUN
taxlaw-9799	570	14	’s	’s	PART
taxlaw-9799	570	15	spin	spin	NOUN
taxlaw-9799	570	16	-	-	PUNCT
taxlaw-9799	570	17	off	off	NOUN
taxlaw-9799	570	18	of	of	ADP
taxlaw-9799	570	19	tripadvisor	tripadvisor	NOUN
taxlaw-9799	570	20	or	or	CCONJ
taxlaw-9799	570	21	yahoo	yahoo	PROPN
taxlaw-9799	570	22	’s	’s	PART
taxlaw-9799	570	23	attempted	attempt	VERB
taxlaw-9799	570	24	spin	spin	NOUN
taxlaw-9799	570	25	-	-	PUNCT
taxlaw-9799	570	26	off	off	NOUN
taxlaw-9799	570	27	of	of	ADP
taxlaw-9799	570	28	alibaba	alibaba	PROPN
taxlaw-9799	570	29	could	could	AUX
taxlaw-9799	570	30	succeed	succeed	VERB
taxlaw-9799	570	31	today	today	NOUN
taxlaw-9799	570	32	?	?	PUNCT
taxlaw-9799	571	1	possibly	possibly	ADV
taxlaw-9799	571	2	,	,	PUNCT
taxlaw-9799	571	3	but	but	CCONJ
taxlaw-9799	571	4	probably	probably	ADV
taxlaw-9799	571	5	not	not	PART
taxlaw-9799	571	6	.	.	PUNCT
taxlaw-9799	572	1	although	although	SCONJ
taxlaw-9799	572	2	the	the	DET
taxlaw-9799	572	3	2016	2016	NUM
taxlaw-9799	572	4	proposed	propose	VERB
taxlaw-9799	572	5	regulations	regulation	NOUN
taxlaw-9799	572	6	have	have	AUX
taxlaw-9799	572	7	expired	expire	VERB
taxlaw-9799	572	8	,	,	PUNCT
taxlaw-9799	572	9	the	the	DET
taxlaw-9799	572	10	i.r.s	i.r.	NOUN
taxlaw-9799	572	11	.	.	PUNCT
taxlaw-9799	572	12	has	have	AUX
taxlaw-9799	572	13	reiterated	reiterate	VERB
taxlaw-9799	572	14	in	in	ADP
taxlaw-9799	572	15	various	various	ADJ
taxlaw-9799	572	16	revenue	revenue	NOUN
taxlaw-9799	572	17	procedures	procedure	NOUN
taxlaw-9799	572	18	over	over	ADP
taxlaw-9799	572	19	the	the	DET
taxlaw-9799	572	20	decades	decade	NOUN
taxlaw-9799	572	21	—	—	PUNCT
taxlaw-9799	572	22	and	and	CCONJ
taxlaw-9799	572	23	as	as	ADV
taxlaw-9799	572	24	recently	recently	ADV
taxlaw-9799	572	25	as	as	ADP
taxlaw-9799	572	26	2021	2021	NUM
taxlaw-9799	572	27	—	—	PUNCT
taxlaw-9799	572	28	its	its	PRON
taxlaw-9799	572	29	stance	stance	NOUN
taxlaw-9799	572	30	that	that	SCONJ
taxlaw-9799	572	31	the	the	DET
taxlaw-9799	572	32	active	active	ADJ
taxlaw-9799	572	33	trade	trade	NOUN
taxlaw-9799	572	34	or	or	CCONJ
taxlaw-9799	572	35	business	business	NOUN
taxlaw-9799	572	36	should	should	AUX
taxlaw-9799	572	37	represent	represent	VERB
taxlaw-9799	572	38	at	at	ADV
taxlaw-9799	572	39	least	least	ADV
taxlaw-9799	572	40	5	5	NUM
taxlaw-9799	572	41	%	%	NOUN
taxlaw-9799	572	42	of	of	ADP
taxlaw-9799	572	43	the	the	DET
taxlaw-9799	572	44	total	total	ADJ
taxlaw-9799	572	45	assets	asset	NOUN
taxlaw-9799	572	46	of	of	ADP
taxlaw-9799	572	47	the	the	DET
taxlaw-9799	572	48	distributing	distribute	VERB
taxlaw-9799	572	49	corporation	corporation	NOUN
taxlaw-9799	572	50	and	and	CCONJ
taxlaw-9799	572	51	the	the	DET
taxlaw-9799	572	52	distributed	distribute	VERB
taxlaw-9799	572	53	corporation	corporation	NOUN
taxlaw-9799	572	54	to	to	PART
taxlaw-9799	572	55	satisfy	satisfy	VERB
taxlaw-9799	572	56	section	section	NOUN
taxlaw-9799	572	57	355.156	355.156	NUM
taxlaw-9799	572	58	where	where	SCONJ
taxlaw-9799	572	59	so	so	ADV
taxlaw-9799	572	60	much	much	ADJ
taxlaw-9799	572	61	is	be	AUX
taxlaw-9799	572	62	at	at	ADP
taxlaw-9799	572	63	stake	stake	NOUN
taxlaw-9799	572	64	and	and	CCONJ
taxlaw-9799	572	65	the	the	DET
taxlaw-9799	572	66	risks	risk	NOUN
taxlaw-9799	572	67	of	of	ADP
taxlaw-9799	572	68	failure	failure	NOUN
taxlaw-9799	572	69	are	be	AUX
taxlaw-9799	572	70	so	so	ADV
taxlaw-9799	572	71	great	great	ADJ
taxlaw-9799	572	72	,	,	PUNCT
taxlaw-9799	572	73	conglomerates	conglomerate	NOUN
taxlaw-9799	572	74	should	should	AUX
taxlaw-9799	572	75	ensure	ensure	VERB
taxlaw-9799	572	76	that	that	SCONJ
taxlaw-9799	572	77	they	they	PRON
taxlaw-9799	572	78	fulfill	fulfill	VERB
taxlaw-9799	572	79	the	the	DET
taxlaw-9799	572	80	requirements	requirement	NOUN
taxlaw-9799	572	81	under	under	ADP
taxlaw-9799	572	82	section	section	NOUN
taxlaw-9799	572	83	355	355	NUM
taxlaw-9799	572	84	,	,	PUNCT
taxlaw-9799	572	85	and	and	CCONJ
taxlaw-9799	572	86	it	it	PRON
taxlaw-9799	572	87	would	would	AUX
taxlaw-9799	572	88	be	be	AUX
taxlaw-9799	572	89	wise	wise	ADJ
taxlaw-9799	572	90	to	to	PART
taxlaw-9799	572	91	follow	follow	VERB
taxlaw-9799	572	92	the	the	DET
taxlaw-9799	572	93	i.r.s	i.r.	NOUN
taxlaw-9799	572	94	.	.	PROPN
taxlaw-9799	572	95	’s	’s	PART
taxlaw-9799	572	96	guidance	guidance	NOUN
taxlaw-9799	572	97	,	,	PUNCT
taxlaw-9799	572	98	even	even	ADV
taxlaw-9799	572	99	if	if	SCONJ
taxlaw-9799	572	100	it	it	PRON
taxlaw-9799	572	101	has	have	AUX
taxlaw-9799	572	102	expired	expire	VERB
taxlaw-9799	572	103	.	.	PUNCT
taxlaw-9799	573	1	many	many	ADJ
taxlaw-9799	573	2	areas	area	NOUN
taxlaw-9799	573	3	of	of	ADP
taxlaw-9799	573	4	tax	tax	NOUN
taxlaw-9799	573	5	law	law	NOUN
taxlaw-9799	573	6	—	—	PUNCT
taxlaw-9799	573	7	like	like	ADP
taxlaw-9799	573	8	the	the	DET
taxlaw-9799	573	9	taxation	taxation	NOUN
taxlaw-9799	573	10	of	of	ADP
taxlaw-9799	573	11	certain	certain	ADJ
taxlaw-9799	573	12	financial	financial	ADJ
taxlaw-9799	573	13	instruments	instrument	NOUN
taxlaw-9799	573	14	—	—	PUNCT
taxlaw-9799	573	15	lack	lack	VERB
taxlaw-9799	573	16	any	any	DET
taxlaw-9799	573	17	binding	bind	VERB
taxlaw-9799	573	18	precedent	precedent	NOUN
taxlaw-9799	573	19	.	.	PUNCT
taxlaw-9799	574	1	in	in	ADP
taxlaw-9799	574	2	such	such	ADJ
taxlaw-9799	574	3	cases	case	NOUN
taxlaw-9799	574	4	,	,	PUNCT
taxlaw-9799	574	5	practitioners	practitioner	NOUN
taxlaw-9799	574	6	must	must	AUX
taxlaw-9799	574	7	rely	rely	VERB
taxlaw-9799	574	8	on	on	ADP
taxlaw-9799	574	9	whatever	whatever	DET
taxlaw-9799	574	10	guidance	guidance	NOUN
taxlaw-9799	574	11	is	be	AUX
taxlaw-9799	574	12	available	available	ADJ
taxlaw-9799	574	13	.	.	PUNCT
taxlaw-9799	575	1	therefore	therefore	ADV
taxlaw-9799	575	2	,	,	PUNCT
taxlaw-9799	575	3	practitioners	practitioner	NOUN
taxlaw-9799	575	4	should	should	AUX
taxlaw-9799	575	5	do	do	VERB
taxlaw-9799	575	6	their	their	PRON
taxlaw-9799	575	7	best	good	ADJ
taxlaw-9799	575	8	to	to	PART
taxlaw-9799	575	9	follow	follow	VERB
taxlaw-9799	575	10	the	the	DET
taxlaw-9799	575	11	i.r.s	i.r.	NOUN
taxlaw-9799	575	12	.	.	PUNCT
taxlaw-9799	575	13	’s	’s	PART
taxlaw-9799	575	14	guidance	guidance	NOUN
taxlaw-9799	575	15	related	relate	VERB
taxlaw-9799	575	16	to	to	ADP
taxlaw-9799	575	17	spin	spin	NOUN
taxlaw-9799	575	18	-	-	PUNCT
taxlaw-9799	575	19	offs	off	NOUN
taxlaw-9799	575	20	—	—	PUNCT
taxlaw-9799	575	21	even	even	ADV
taxlaw-9799	575	22	when	when	SCONJ
taxlaw-9799	575	23	such	such	ADJ
taxlaw-9799	575	24	guidance	guidance	NOUN
taxlaw-9799	575	25	has	have	AUX
taxlaw-9799	575	26	expired	expire	VERB
taxlaw-9799	575	27	or	or	CCONJ
taxlaw-9799	575	28	is	be	AUX
taxlaw-9799	575	29	technically	technically	ADV
taxlaw-9799	575	30	nonbinding	nonbinde	VERB
taxlaw-9799	575	31	.	.	PUNCT
taxlaw-9799	576	1	conclusion	conclusion	NOUN
taxlaw-9799	576	2	scholars	scholar	NOUN
taxlaw-9799	576	3	and	and	CCONJ
taxlaw-9799	576	4	investors	investor	NOUN
taxlaw-9799	576	5	view	view	VERB
taxlaw-9799	576	6	deconglomeration	deconglomeration	NOUN
taxlaw-9799	576	7	as	as	ADP
taxlaw-9799	576	8	value	value	NOUN
taxlaw-9799	576	9	-	-	PUNCT
taxlaw-9799	576	10	enhancing	enhance	VERB
taxlaw-9799	576	11	and	and	CCONJ
taxlaw-9799	576	12	beneficial	beneficial	ADJ
taxlaw-9799	576	13	to	to	ADP
taxlaw-9799	576	14	the	the	DET
taxlaw-9799	576	15	real	real	ADJ
taxlaw-9799	576	16	economy	economy	NOUN
taxlaw-9799	576	17	.	.	PUNCT
taxlaw-9799	577	1	fortunately	fortunately	ADV
taxlaw-9799	577	2	for	for	ADP
taxlaw-9799	577	3	conglomerates	conglomerate	NOUN
taxlaw-9799	577	4	,	,	PUNCT
taxlaw-9799	577	5	u.s	u.s	PROPN
taxlaw-9799	577	6	.	.	PROPN
taxlaw-9799	577	7	tax	tax	NOUN
taxlaw-9799	577	8	law	law	NOUN
taxlaw-9799	577	9	does	do	AUX
taxlaw-9799	577	10	not	not	PART
taxlaw-9799	577	11	make	make	VERB
taxlaw-9799	577	12	tax	tax	NOUN
taxlaw-9799	577	13	-	-	PUNCT
taxlaw-9799	577	14	free	free	ADJ
taxlaw-9799	577	15	spin	spin	NOUN
taxlaw-9799	577	16	-	-	PUNCT
taxlaw-9799	577	17	offs	off	NOUN
taxlaw-9799	577	18	impossible	impossible	ADJ
taxlaw-9799	577	19	.	.	PUNCT
taxlaw-9799	578	1	although	although	SCONJ
taxlaw-9799	578	2	the	the	DET
taxlaw-9799	578	3	spin	spin	VERB
taxlaw-9799	578	4	-	-	PUNCT
taxlaw-9799	578	5	off	off	ADP
taxlaw-9799	578	6	rules	rule	NOUN
taxlaw-9799	578	7	are	be	AUX
taxlaw-9799	578	8	complex	complex	ADJ
taxlaw-9799	578	9	,	,	PUNCT
taxlaw-9799	578	10	burdensome	burdensome	ADJ
taxlaw-9799	578	11	,	,	PUNCT
taxlaw-9799	578	12	and	and	CCONJ
taxlaw-9799	578	13	byzantine	byzantine	NOUN
taxlaw-9799	578	14	,	,	PUNCT
taxlaw-9799	578	15	conglomerates	conglomerate	NOUN
taxlaw-9799	578	16	in	in	ADP
taxlaw-9799	578	17	particular	particular	ADJ
taxlaw-9799	578	18	have	have	VERB
taxlaw-9799	578	19	ample	ample	ADJ
taxlaw-9799	578	20	resources	resource	NOUN
taxlaw-9799	578	21	to	to	PART
taxlaw-9799	578	22	hire	hire	VERB
taxlaw-9799	578	23	skilled	skilled	ADJ
taxlaw-9799	578	24	teams	team	NOUN
taxlaw-9799	578	25	of	of	ADP
taxlaw-9799	578	26	tax	tax	NOUN
taxlaw-9799	578	27	lawyers	lawyer	NOUN
taxlaw-9799	578	28	and	and	CCONJ
taxlaw-9799	578	29	accountants	accountant	NOUN
taxlaw-9799	578	30	with	with	ADP
taxlaw-9799	578	31	extensive	extensive	ADJ
taxlaw-9799	578	32	experience	experience	NOUN
taxlaw-9799	578	33	in	in	ADP
taxlaw-9799	578	34	navigating	navigate	VERB
taxlaw-9799	578	35	the	the	DET
taxlaw-9799	578	36	spin	spin	VERB
taxlaw-9799	578	37	-	-	PUNCT
taxlaw-9799	578	38	off	off	ADP
taxlaw-9799	578	39	rules	rule	NOUN
taxlaw-9799	578	40	to	to	PART
taxlaw-9799	578	41	avoid	avoid	VERB
taxlaw-9799	578	42	the	the	DET
taxlaw-9799	578	43	harsh	harsh	ADJ
taxlaw-9799	578	44	consequences	consequence	NOUN
taxlaw-9799	578	45	of	of	ADP
taxlaw-9799	578	46	failing	fail	VERB
taxlaw-9799	578	47	to	to	PART
taxlaw-9799	578	48	qualify	qualify	VERB
taxlaw-9799	578	49	under	under	ADP
taxlaw-9799	578	50	section	section	NOUN
taxlaw-9799	578	51	355	355	NUM
taxlaw-9799	578	52	.	.	PUNCT
taxlaw-9799	579	1	expert	expert	ADJ
taxlaw-9799	579	2	tax	tax	NOUN
taxlaw-9799	579	3	and	and	CCONJ
taxlaw-9799	579	4	accounting	accounting	NOUN
taxlaw-9799	579	5	advice	advice	NOUN
taxlaw-9799	579	6	can	can	AUX
taxlaw-9799	579	7	all	all	PRON
taxlaw-9799	579	8	but	but	ADV
taxlaw-9799	579	9	ensure	ensure	VERB
taxlaw-9799	579	10	tax	tax	NOUN
taxlaw-9799	579	11	-	-	PUNCT
taxlaw-9799	579	12	free	free	ADJ
taxlaw-9799	579	13	treatment	treatment	NOUN
taxlaw-9799	579	14	provided	provide	VERB
taxlaw-9799	579	15	that	that	SCONJ
taxlaw-9799	579	16	each	each	PRON
taxlaw-9799	579	17	of	of	ADP
taxlaw-9799	579	18	the	the	DET
taxlaw-9799	579	19	statutory	statutory	ADJ
taxlaw-9799	579	20	and	and	CCONJ
taxlaw-9799	579	21	common	common	ADJ
taxlaw-9799	579	22	law	law	NOUN
taxlaw-9799	579	23	requirements	requirement	NOUN
taxlaw-9799	579	24	for	for	ADP
taxlaw-9799	579	25	taxfree	taxfree	NUM
taxlaw-9799	579	26	spin	spin	NOUN
taxlaw-9799	579	27	-	-	PUNCT
taxlaw-9799	579	28	offs	off	NOUN
taxlaw-9799	579	29	is	be	AUX
taxlaw-9799	579	30	satisfied	satisfied	ADJ
taxlaw-9799	579	31	and	and	CCONJ
taxlaw-9799	579	32	as	as	ADV
taxlaw-9799	579	33	long	long	ADV
taxlaw-9799	579	34	as	as	SCONJ
taxlaw-9799	579	35	the	the	DET
taxlaw-9799	579	36	transaction	transaction	NOUN
taxlaw-9799	579	37	does	do	AUX
taxlaw-9799	579	38	not	not	PART
taxlaw-9799	579	39	overtly	overtly	ADV
taxlaw-9799	579	40	violate	violate	VERB
taxlaw-9799	579	41	less	less	ADV
taxlaw-9799	579	42	authoritative	authoritative	ADJ
taxlaw-9799	579	43	guidance	guidance	NOUN
taxlaw-9799	579	44	that	that	PRON
taxlaw-9799	579	45	appears	appear	VERB
taxlaw-9799	579	46	in	in	ADP
taxlaw-9799	579	47	proposed	propose	VERB
taxlaw-9799	579	48	—	—	PUNCT
taxlaw-9799	579	49	albeit	albeit	SCONJ
taxlaw-9799	579	50	expired	expired	ADJ
taxlaw-9799	579	51	—	—	PUNCT
taxlaw-9799	579	52	regulations	regulation	NOUN
taxlaw-9799	579	53	and	and	CCONJ
taxlaw-9799	579	54	revenue	revenue	NOUN
taxlaw-9799	579	55	procedures	procedure	NOUN
taxlaw-9799	579	56	.	.	PUNCT
taxlaw-9799	580	1	tax	tax	NOUN
taxlaw-9799	580	2	law	law	NOUN
taxlaw-9799	580	3	practitioners	practitioner	NOUN
taxlaw-9799	580	4	sometimes	sometimes	ADV
taxlaw-9799	580	5	even	even	ADV
taxlaw-9799	580	6	refer	refer	VERB
taxlaw-9799	580	7	to	to	ADP
taxlaw-9799	580	8	the	the	DET
taxlaw-9799	580	9	spin	spin	VERB
taxlaw-9799	580	10	-	-	PUNCT
taxlaw-9799	580	11	off	off	ADP
taxlaw-9799	580	12	rules	rule	NOUN
taxlaw-9799	580	13	as	as	ADP
taxlaw-9799	580	14	“	"	PUNCT
taxlaw-9799	580	15	taxpayer	taxpayer	NOUN
taxlaw-9799	580	16	-	-	PUNCT
taxlaw-9799	580	17	friendly	friendly	ADJ
taxlaw-9799	580	18	”	"	PUNCT
taxlaw-9799	580	19	because	because	SCONJ
taxlaw-9799	580	20	corporations	corporation	NOUN
taxlaw-9799	580	21	are	be	AUX
taxlaw-9799	580	22	usually	usually	ADV
taxlaw-9799	580	23	able	able	ADJ
taxlaw-9799	580	24	to	to	PART
taxlaw-9799	580	25	satisfy	satisfy	VERB
taxlaw-9799	580	26	the	the	DET
taxlaw-9799	580	27	requirements	requirement	NOUN
taxlaw-9799	580	28	and	and	CCONJ
taxlaw-9799	580	29	take	take	VERB
taxlaw-9799	580	30	advantage	advantage	NOUN
taxlaw-9799	580	31	of	of	ADP
taxlaw-9799	580	32	tax	tax	NOUN
taxlaw-9799	580	33	-	-	PUNCT
taxlaw-9799	580	34	free	free	ADJ
taxlaw-9799	580	35	treatment	treatment	NOUN
taxlaw-9799	580	36	under	under	ADP
taxlaw-9799	580	37	section	section	NOUN
taxlaw-9799	580	38	355.157	355.157	NUM
taxlaw-9799	580	39	one	one	NUM
taxlaw-9799	580	40	153	153	NUM
taxlaw-9799	580	41	see	see	VERB
taxlaw-9799	580	42	i	i	PROPN
taxlaw-9799	580	43	d.	d.	PROPN
taxlaw-9799	580	44	154	154	NUM
taxlaw-9799	580	45	see	see	VERB
taxlaw-9799	580	46	edmund	edmund	PROPN
taxlaw-9799	580	47	lee	lee	PROPN
taxlaw-9799	580	48	&	&	CCONJ
taxlaw-9799	580	49	lauren	lauren	PROPN
taxlaw-9799	580	50	hirsch	hirsch	PROPN
taxlaw-9799	580	51	,	,	PUNCT
taxlaw-9799	580	52	yahoo	yahoo	PROPN
taxlaw-9799	580	53	and	and	CCONJ
taxlaw-9799	580	54	aol	aol	PROPN
taxlaw-9799	580	55	,	,	PUNCT
taxlaw-9799	580	56	early	early	ADJ
taxlaw-9799	580	57	internet	internet	NOUN
taxlaw-9799	580	58	pioneers	pioneer	NOUN
taxlaw-9799	580	59	,	,	PUNCT
taxlaw-9799	580	60	are	be	AUX
taxlaw-9799	580	61	sold	sell	VERB
taxlaw-9799	580	62	to	to	ADP
taxlaw-9799	580	63	private	private	ADJ
taxlaw-9799	580	64	equity	equity	NOUN
taxlaw-9799	580	65	firm	firm	NOUN
taxlaw-9799	580	66	,	,	PUNCT
taxlaw-9799	580	67	n.y	n.y	PROPN
taxlaw-9799	580	68	.	.	PROPN
taxlaw-9799	580	69	times	times	PROPN
taxlaw-9799	580	70	(	(	PUNCT
taxlaw-9799	580	71	may	may	PROPN
taxlaw-9799	580	72	3	3	NUM
taxlaw-9799	580	73	,	,	PUNCT
taxlaw-9799	580	74	2021	2021	NUM
taxlaw-9799	580	75	)	)	PUNCT
taxlaw-9799	580	76	,	,	PUNCT
taxlaw-9799	580	77	https://www.nytimes.com/2021/05/03/business/verizon-aol-yahoo-sale.html/	https://www.nytimes.com/2021/05/03/business/verizon-aol-yahoo-sale.html/	NOUN
taxlaw-9799	580	78	[	[	X
taxlaw-9799	580	79	https://perma.cc/h2lc-dyqu	https://perma.cc/h2lc-dyqu	NOUN
taxlaw-9799	580	80	]	]	PUNCT
taxlaw-9799	580	81	.	.	PUNCT
taxlaw-9799	581	1	155	155	NUM
taxlaw-9799	581	2	see	see	VERB
taxlaw-9799	581	3	i	i	PROPN
taxlaw-9799	581	4	d.	d.	PROPN
taxlaw-9799	581	5	156	156	NUM
taxlaw-9799	581	6	see	see	VERB
taxlaw-9799	581	7	,	,	PUNCT
taxlaw-9799	581	8	e.g.	e.g.	ADV
taxlaw-9799	581	9	,	,	PUNCT
taxlaw-9799	581	10	rev	rev	PROPN
taxlaw-9799	581	11	.	.	PROPN
taxlaw-9799	581	12	proc	proc	PROPN
taxlaw-9799	581	13	.	.	PUNCT
taxlaw-9799	581	14	2021	2021	NUM
taxlaw-9799	581	15	-	-	SYM
taxlaw-9799	581	16	3	3	NUM
taxlaw-9799	581	17	,	,	PUNCT
taxlaw-9799	581	18	2021	2021	NUM
taxlaw-9799	581	19	-	-	SYM
taxlaw-9799	581	20	1	1	NUM
taxlaw-9799	581	21	i.r.b	i.r.b	NOUN
taxlaw-9799	581	22	.	.	PUNCT
taxlaw-9799	582	1	140	140	NUM
taxlaw-9799	582	2	.	.	X
taxlaw-9799	583	1	157	157	NUM
taxlaw-9799	583	2	see	see	VERB
taxlaw-9799	583	3	dantzler	dantzler	PROPN
taxlaw-9799	583	4	jr	jr	PROPN
taxlaw-9799	583	5	.	.	PROPN
taxlaw-9799	583	6	,	,	PUNCT
taxlaw-9799	583	7	supra	supra	PROPN
taxlaw-9799	583	8	note	note	NOUN
taxlaw-9799	583	9	90	90	NUM
taxlaw-9799	583	10	.	.	NOUN
taxlaw-9799	583	11	2022	2022	NUM
taxlaw-9799	583	12	]	]	PUNCT
taxlaw-9799	583	13	conglomerate	conglomerate	NOUN
taxlaw-9799	583	14	spin	spin	NOUN
taxlaw-9799	583	15	-	-	PUNCT
taxlaw-9799	583	16	offs	off	NOUN
taxlaw-9799	583	17	192	192	NUM
taxlaw-9799	583	18	important	important	ADJ
taxlaw-9799	583	19	exception	exception	NOUN
taxlaw-9799	583	20	is	be	AUX
taxlaw-9799	583	21	the	the	DET
taxlaw-9799	583	22	gain	gain	NOUN
taxlaw-9799	583	23	recognition	recognition	NOUN
taxlaw-9799	583	24	requirement	requirement	NOUN
taxlaw-9799	583	25	for	for	ADP
taxlaw-9799	583	26	u.s	u.s	PROPN
taxlaw-9799	583	27	.	.	PROPN
taxlaw-9799	583	28	conglomerates	conglomerate	NOUN
taxlaw-9799	583	29	wishing	wish	VERB
taxlaw-9799	583	30	to	to	PART
taxlaw-9799	583	31	spin	spin	VERB
taxlaw-9799	583	32	off	off	ADP
taxlaw-9799	583	33	a	a	DET
taxlaw-9799	583	34	foreign	foreign	ADJ
taxlaw-9799	583	35	business	business	NOUN
taxlaw-9799	583	36	with	with	ADP
taxlaw-9799	583	37	appreciated	appreciated	ADJ
taxlaw-9799	583	38	assets	asset	NOUN
taxlaw-9799	583	39	.	.	PUNCT
taxlaw-9799	584	1	thus	thus	ADV
taxlaw-9799	584	2	,	,	PUNCT
taxlaw-9799	584	3	the	the	DET
taxlaw-9799	584	4	crossborder	crossborder	NOUN
taxlaw-9799	584	5	spin	spin	NOUN
taxlaw-9799	584	6	-	-	PUNCT
taxlaw-9799	584	7	off	off	ADP
taxlaw-9799	584	8	rules	rule	NOUN
taxlaw-9799	584	9	do	do	AUX
taxlaw-9799	584	10	in	in	ADP
taxlaw-9799	584	11	fact	fact	NOUN
taxlaw-9799	584	12	inhibit	inhibit	NOUN
taxlaw-9799	584	13	deconglomeration	deconglomeration	NOUN
taxlaw-9799	584	14	efforts	effort	NOUN
taxlaw-9799	584	15	by	by	ADP
taxlaw-9799	584	16	u.s	u.s	PROPN
taxlaw-9799	584	17	.	.	PROPN
taxlaw-9799	584	18	multinationals	multinational	NOUN
taxlaw-9799	584	19	.	.	PUNCT
taxlaw-9799	585	1	the	the	DET
taxlaw-9799	585	2	failure	failure	NOUN
taxlaw-9799	585	3	of	of	ADP
taxlaw-9799	585	4	yahoo	yahoo	PROPN
taxlaw-9799	585	5	’s	’s	PART
taxlaw-9799	585	6	spin	spin	NOUN
taxlaw-9799	585	7	-	-	PUNCT
taxlaw-9799	585	8	off	off	NOUN
taxlaw-9799	585	9	constitutes	constitute	VERB
taxlaw-9799	585	10	an	an	DET
taxlaw-9799	585	11	extremely	extremely	ADV
taxlaw-9799	585	12	rare	rare	ADJ
taxlaw-9799	585	13	,	,	PUNCT
taxlaw-9799	585	14	high	high	ADJ
taxlaw-9799	585	15	-	-	PUNCT
taxlaw-9799	585	16	profile	profile	NOUN
taxlaw-9799	585	17	example	example	NOUN
taxlaw-9799	585	18	of	of	ADP
taxlaw-9799	585	19	a	a	DET
taxlaw-9799	585	20	conglomerate	conglomerate	NOUN
taxlaw-9799	585	21	failing	fail	VERB
taxlaw-9799	585	22	in	in	ADP
taxlaw-9799	585	23	its	its	PRON
taxlaw-9799	585	24	efforts	effort	NOUN
taxlaw-9799	585	25	to	to	PART
taxlaw-9799	585	26	achieve	achieve	VERB
taxlaw-9799	585	27	a	a	DET
taxlaw-9799	585	28	tax	tax	NOUN
taxlaw-9799	585	29	-	-	PUNCT
taxlaw-9799	585	30	free	free	ADJ
taxlaw-9799	585	31	spin	spin	NOUN
taxlaw-9799	585	32	-	-	PUNCT
taxlaw-9799	585	33	off	off	NOUN
taxlaw-9799	585	34	.	.	PUNCT
taxlaw-9799	586	1	rather	rather	ADV
taxlaw-9799	586	2	than	than	SCONJ
taxlaw-9799	586	3	allowing	allow	VERB
taxlaw-9799	586	4	yahoo	yahoo	NOUN
taxlaw-9799	586	5	to	to	PART
taxlaw-9799	586	6	pursue	pursue	VERB
taxlaw-9799	586	7	the	the	DET
taxlaw-9799	586	8	spin	spin	NOUN
taxlaw-9799	586	9	-	-	PUNCT
taxlaw-9799	586	10	off	off	NOUN
taxlaw-9799	586	11	and	and	CCONJ
taxlaw-9799	586	12	then	then	ADV
taxlaw-9799	586	13	later	later	ADV
taxlaw-9799	586	14	challenging	challenge	VERB
taxlaw-9799	586	15	the	the	DET
taxlaw-9799	586	16	transaction	transaction	NOUN
taxlaw-9799	586	17	and	and	CCONJ
taxlaw-9799	586	18	assessing	assess	VERB
taxlaw-9799	586	19	a	a	DET
taxlaw-9799	586	20	$	$	SYM
taxlaw-9799	586	21	16	16	NUM
taxlaw-9799	586	22	billion	billion	NUM
taxlaw-9799	586	23	deficiency	deficiency	NOUN
taxlaw-9799	586	24	,	,	PUNCT
taxlaw-9799	586	25	the	the	DET
taxlaw-9799	586	26	i.r.s	i.r.	NOUN
taxlaw-9799	586	27	.	.	PUNCT
taxlaw-9799	586	28	sent	send	VERB
taxlaw-9799	586	29	yahoo	yahoo	PROPN
taxlaw-9799	586	30	and	and	CCONJ
taxlaw-9799	586	31	its	its	PRON
taxlaw-9799	586	32	tax	tax	NOUN
taxlaw-9799	586	33	counsel	counsel	NOUN
taxlaw-9799	586	34	clear	clear	ADJ
taxlaw-9799	586	35	signals	signal	NOUN
taxlaw-9799	586	36	that	that	SCONJ
taxlaw-9799	586	37	the	the	DET
taxlaw-9799	586	38	plan	plan	NOUN
taxlaw-9799	586	39	seemed	seem	VERB
taxlaw-9799	586	40	abusive	abusive	ADJ
taxlaw-9799	586	41	and	and	CCONJ
taxlaw-9799	586	42	that	that	SCONJ
taxlaw-9799	586	43	the	the	DET
taxlaw-9799	586	44	transaction	transaction	NOUN
taxlaw-9799	586	45	likely	likely	ADV
taxlaw-9799	586	46	would	would	AUX
taxlaw-9799	586	47	not	not	PART
taxlaw-9799	586	48	qualify	qualify	VERB
taxlaw-9799	586	49	for	for	ADP
taxlaw-9799	586	50	tax	tax	NOUN
taxlaw-9799	586	51	-	-	PUNCT
taxlaw-9799	586	52	free	free	ADJ
taxlaw-9799	586	53	treatment	treatment	NOUN
taxlaw-9799	586	54	if	if	SCONJ
taxlaw-9799	586	55	yahoo	yahoo	PROPN
taxlaw-9799	586	56	executed	execute	VERB
taxlaw-9799	586	57	either	either	CCONJ
taxlaw-9799	586	58	the	the	DET
taxlaw-9799	586	59	spin	spin	NOUN
taxlaw-9799	586	60	-	-	PUNCT
taxlaw-9799	586	61	off	off	NOUN
taxlaw-9799	586	62	or	or	CCONJ
taxlaw-9799	586	63	reverse	reverse	VERB
taxlaw-9799	586	64	spin	spin	NOUN
taxlaw-9799	586	65	-	-	PUNCT
taxlaw-9799	586	66	off	off	NOUN
taxlaw-9799	586	67	.	.	PUNCT
taxlaw-9799	587	1	such	such	ADJ
taxlaw-9799	587	2	warnings	warning	NOUN
taxlaw-9799	587	3	persuaded	persuade	VERB
taxlaw-9799	587	4	yahoo	yahoo	PROPN
taxlaw-9799	587	5	to	to	PART
taxlaw-9799	587	6	reevaluate	reevaluate	VERB
taxlaw-9799	587	7	its	its	PRON
taxlaw-9799	587	8	plan	plan	NOUN
taxlaw-9799	587	9	and	and	CCONJ
taxlaw-9799	587	10	to	to	PART
taxlaw-9799	587	11	pursue	pursue	VERB
taxlaw-9799	587	12	alternative	alternative	ADJ
taxlaw-9799	587	13	,	,	PUNCT
taxlaw-9799	587	14	less	less	ADJ
taxlaw-9799	587	15	tax	tax	NOUN
taxlaw-9799	587	16	-	-	PUNCT
taxlaw-9799	587	17	favorable	favorable	ADJ
taxlaw-9799	587	18	strategies	strategy	NOUN
taxlaw-9799	587	19	.	.	PUNCT
taxlaw-9799	588	1	here	here	ADV
taxlaw-9799	588	2	,	,	PUNCT
taxlaw-9799	588	3	instead	instead	ADV
taxlaw-9799	588	4	of	of	ADP
taxlaw-9799	588	5	acting	act	VERB
taxlaw-9799	588	6	like	like	ADP
taxlaw-9799	588	7	a	a	DET
taxlaw-9799	588	8	hostile	hostile	ADJ
taxlaw-9799	588	9	adversary	adversary	NOUN
taxlaw-9799	588	10	looking	look	VERB
taxlaw-9799	588	11	to	to	PART
taxlaw-9799	588	12	seize	seize	VERB
taxlaw-9799	588	13	on	on	ADP
taxlaw-9799	588	14	billions	billion	NOUN
taxlaw-9799	588	15	in	in	ADP
taxlaw-9799	588	16	potentially	potentially	ADV
taxlaw-9799	588	17	unpaid	unpaid	ADJ
taxlaw-9799	588	18	taxes	taxis	NOUN
taxlaw-9799	588	19	,	,	PUNCT
taxlaw-9799	588	20	the	the	DET
taxlaw-9799	588	21	i.r.s	i.r.	NOUN
taxlaw-9799	588	22	.	.	PUNCT
taxlaw-9799	588	23	comported	comport	VERB
taxlaw-9799	588	24	itself	itself	PRON
taxlaw-9799	588	25	more	more	ADV
taxlaw-9799	588	26	like	like	ADP
taxlaw-9799	588	27	a	a	DET
taxlaw-9799	588	28	business	business	NOUN
taxlaw-9799	588	29	-	-	PUNCT
taxlaw-9799	588	30	friendly	friendly	ADJ
taxlaw-9799	588	31	partner	partner	NOUN
taxlaw-9799	588	32	or	or	CCONJ
taxlaw-9799	588	33	consultant	consultant	NOUN
taxlaw-9799	588	34	that	that	PRON
taxlaw-9799	588	35	guided	guide	VERB
taxlaw-9799	588	36	yahoo	yahoo	PROPN
taxlaw-9799	588	37	to	to	PART
taxlaw-9799	588	38	pursue	pursue	VERB
taxlaw-9799	588	39	an	an	DET
taxlaw-9799	588	40	approved	approve	VERB
taxlaw-9799	588	41	deconglomeration	deconglomeration	NOUN
taxlaw-9799	588	42	strategy	strategy	NOUN
taxlaw-9799	588	43	that	that	PRON
taxlaw-9799	588	44	would	would	AUX
taxlaw-9799	588	45	avoid	avoid	VERB
taxlaw-9799	588	46	devastatingly	devastatingly	ADV
taxlaw-9799	588	47	draconian	draconian	ADJ
taxlaw-9799	588	48	results	result	NOUN
taxlaw-9799	588	49	.	.	PUNCT
taxlaw-9799	589	1	if	if	SCONJ
taxlaw-9799	589	2	a	a	DET
taxlaw-9799	589	3	spin	spin	VERB
taxlaw-9799	589	4	-	-	PUNCT
taxlaw-9799	589	5	off	off	ADP
taxlaw-9799	589	6	transaction	transaction	NOUN
taxlaw-9799	589	7	does	do	AUX
taxlaw-9799	589	8	not	not	PART
taxlaw-9799	589	9	qualify	qualify	VERB
taxlaw-9799	589	10	for	for	ADP
taxlaw-9799	589	11	tax	tax	NOUN
taxlaw-9799	589	12	-	-	PUNCT
taxlaw-9799	589	13	free	free	ADJ
taxlaw-9799	589	14	treatment	treatment	NOUN
taxlaw-9799	589	15	,	,	PUNCT
taxlaw-9799	589	16	conglomerates	conglomerate	NOUN
taxlaw-9799	589	17	can	can	AUX
taxlaw-9799	589	18	seek	seek	VERB
taxlaw-9799	589	19	to	to	PART
taxlaw-9799	589	20	break	break	VERB
taxlaw-9799	589	21	themselves	themselves	PRON
taxlaw-9799	589	22	into	into	ADP
taxlaw-9799	589	23	smaller	small	ADJ
taxlaw-9799	589	24	business	business	NOUN
taxlaw-9799	589	25	units	unit	NOUN
taxlaw-9799	589	26	using	use	VERB
taxlaw-9799	589	27	other	other	ADJ
taxlaw-9799	589	28	routes	route	NOUN
taxlaw-9799	589	29	:	:	PUNCT
taxlaw-9799	589	30	taxable	taxable	ADJ
taxlaw-9799	589	31	stock	stock	NOUN
taxlaw-9799	589	32	sales	sale	NOUN
taxlaw-9799	589	33	,	,	PUNCT
taxlaw-9799	589	34	taxable	taxable	ADJ
taxlaw-9799	589	35	asset	asset	NOUN
taxlaw-9799	589	36	sales	sale	NOUN
taxlaw-9799	589	37	,	,	PUNCT
taxlaw-9799	589	38	exchanges	exchange	NOUN
taxlaw-9799	589	39	,	,	PUNCT
taxlaw-9799	589	40	closures	closure	NOUN
taxlaw-9799	589	41	,	,	PUNCT
taxlaw-9799	589	42	bankruptcies	bankruptcy	NOUN
taxlaw-9799	589	43	,	,	PUNCT
taxlaw-9799	589	44	or	or	CCONJ
taxlaw-9799	589	45	restructurings.158	restructurings.158	NOUN
taxlaw-9799	589	46	but	but	CCONJ
taxlaw-9799	589	47	such	such	ADJ
taxlaw-9799	589	48	alternatives	alternative	NOUN
taxlaw-9799	589	49	are	be	AUX
taxlaw-9799	589	50	never	never	ADV
taxlaw-9799	589	51	as	as	ADV
taxlaw-9799	589	52	beneficial	beneficial	ADJ
taxlaw-9799	589	53	as	as	ADP
taxlaw-9799	589	54	a	a	DET
taxlaw-9799	589	55	spin	spin	NOUN
taxlaw-9799	589	56	-	-	PUNCT
taxlaw-9799	589	57	off	off	NOUN
taxlaw-9799	589	58	because	because	SCONJ
taxlaw-9799	589	59	they	they	PRON
taxlaw-9799	589	60	all	all	PRON
taxlaw-9799	589	61	give	give	VERB
taxlaw-9799	589	62	rise	rise	NOUN
taxlaw-9799	589	63	to	to	ADP
taxlaw-9799	589	64	immediate	immediate	ADJ
taxlaw-9799	589	65	corporate	corporate	ADJ
taxlaw-9799	589	66	-	-	PUNCT
taxlaw-9799	589	67	level	level	NOUN
taxlaw-9799	589	68	tax	tax	NOUN
taxlaw-9799	589	69	liability	liability	NOUN
taxlaw-9799	589	70	,	,	PUNCT
taxlaw-9799	589	71	whereas	whereas	SCONJ
taxlaw-9799	589	72	section	section	NOUN
taxlaw-9799	589	73	355	355	NUM
taxlaw-9799	589	74	provides	provide	VERB
taxlaw-9799	589	75	the	the	DET
taxlaw-9799	589	76	unparalleled	unparalleled	ADJ
taxlaw-9799	589	77	gift	gift	NOUN
taxlaw-9799	589	78	of	of	ADP
taxlaw-9799	589	79	no	no	DET
taxlaw-9799	589	80	imposition	imposition	NOUN
taxlaw-9799	589	81	of	of	ADP
taxlaw-9799	589	82	tax	tax	NOUN
taxlaw-9799	589	83	at	at	ADP
taxlaw-9799	589	84	the	the	DET
taxlaw-9799	589	85	entity	entity	NOUN
taxlaw-9799	589	86	level	level	NOUN
taxlaw-9799	589	87	.	.	PUNCT
taxlaw-9799	590	1	as	as	ADP
taxlaw-9799	590	2	a	a	DET
taxlaw-9799	590	3	flurry	flurry	NOUN
taxlaw-9799	590	4	of	of	ADP
taxlaw-9799	590	5	conglomerates	conglomerate	NOUN
taxlaw-9799	590	6	including	include	VERB
taxlaw-9799	590	7	ge	ge	PROPN
taxlaw-9799	590	8	,	,	PUNCT
taxlaw-9799	590	9	johnson	johnson	PROPN
taxlaw-9799	590	10	&	&	CCONJ
taxlaw-9799	590	11	johnson	johnson	PROPN
taxlaw-9799	590	12	,	,	PUNCT
taxlaw-9799	590	13	merck	merck	PROPN
taxlaw-9799	590	14	,	,	PUNCT
taxlaw-9799	590	15	and	and	CCONJ
taxlaw-9799	590	16	toshiba	toshiba	VERB
taxlaw-9799	590	17	either	either	CCONJ
taxlaw-9799	590	18	contemplate	contemplate	VERB
taxlaw-9799	590	19	or	or	CCONJ
taxlaw-9799	590	20	begin	begin	VERB
taxlaw-9799	590	21	downsizing,159	downsizing,159	PROPN
taxlaw-9799	590	22	tax	tax	NOUN
taxlaw-9799	590	23	-	-	PUNCT
taxlaw-9799	590	24	free	free	ADJ
taxlaw-9799	590	25	spin	spin	NOUN
taxlaw-9799	590	26	-	-	PUNCT
taxlaw-9799	590	27	offs	off	NOUN
taxlaw-9799	590	28	remain	remain	VERB
taxlaw-9799	590	29	a	a	DET
taxlaw-9799	590	30	critical	critical	ADJ
taxlaw-9799	590	31	tool	tool	NOUN
taxlaw-9799	590	32	for	for	ADP
taxlaw-9799	590	33	conglomerates	conglomerate	NOUN
taxlaw-9799	590	34	—	—	PUNCT
taxlaw-9799	590	35	a	a	DET
taxlaw-9799	590	36	vital	vital	ADJ
taxlaw-9799	590	37	tax	tax	NOUN
taxlaw-9799	590	38	-	-	PUNCT
taxlaw-9799	590	39	planning	planning	NOUN
taxlaw-9799	590	40	strategy	strategy	NOUN
taxlaw-9799	590	41	that	that	PRON
taxlaw-9799	590	42	enables	enable	VERB
taxlaw-9799	590	43	deconglomeration	deconglomeration	NOUN
taxlaw-9799	590	44	and	and	CCONJ
taxlaw-9799	590	45	thus	thus	ADV
taxlaw-9799	590	46	benefits	benefit	VERB
taxlaw-9799	590	47	conglomerates	conglomerate	NOUN
taxlaw-9799	590	48	,	,	PUNCT
taxlaw-9799	590	49	their	their	PRON
taxlaw-9799	590	50	shareholders	shareholder	NOUN
taxlaw-9799	590	51	,	,	PUNCT
taxlaw-9799	590	52	and	and	CCONJ
taxlaw-9799	590	53	the	the	DET
taxlaw-9799	590	54	overall	overall	ADJ
taxlaw-9799	590	55	economy	economy	NOUN
taxlaw-9799	590	56	.	.	PUNCT
taxlaw-9799	591	1	158	158	NUM
taxlaw-9799	591	2	see	see	VERB
taxlaw-9799	591	3	michael	michael	PROPN
taxlaw-9799	591	4	mankins	mankin	NOUN
taxlaw-9799	591	5	et	et	PROPN
taxlaw-9799	591	6	al	al	PROPN
taxlaw-9799	591	7	.	.	PROPN
taxlaw-9799	591	8	,	,	PUNCT
taxlaw-9799	591	9	how	how	SCONJ
taxlaw-9799	591	10	the	the	DET
taxlaw-9799	591	11	best	well	ADV
taxlaw-9799	591	12	divest	div	ADJ
taxlaw-9799	591	13	,	,	PUNCT
taxlaw-9799	591	14	harv	harv	NOUN
taxlaw-9799	591	15	.	.	PUNCT
taxlaw-9799	592	1	bus	bus	NOUN
taxlaw-9799	592	2	.	.	PUNCT
taxlaw-9799	593	1	rev	rev	PROPN
taxlaw-9799	593	2	.	.	PROPN
taxlaw-9799	594	1	(	(	PUNCT
taxlaw-9799	594	2	oct	oct	PROPN
taxlaw-9799	594	3	.	.	PROPN
taxlaw-9799	594	4	2008	2008	NUM
taxlaw-9799	594	5	)	)	PUNCT
taxlaw-9799	594	6	,	,	PUNCT
taxlaw-9799	595	1	https://hbr.org/2008/10/how-the-best-divest/	https://hbr.org/2008/10/how-the-best-divest/	NOUN
taxlaw-9799	596	1	[	[	X
taxlaw-9799	596	2	https://perma.cc/n8l2-h3zz	https://perma.cc/n8l2-h3zz	X
taxlaw-9799	596	3	]	]	X
taxlaw-9799	596	4	.	.	PUNCT
taxlaw-9799	597	1	159	159	NUM
taxlaw-9799	597	2	see	see	VERB
taxlaw-9799	597	3	kevin	kevin	PROPN
taxlaw-9799	597	4	dowd	dowd	PROPN
taxlaw-9799	597	5	,	,	PUNCT
taxlaw-9799	597	6	death	death	NOUN
taxlaw-9799	597	7	to	to	ADP
taxlaw-9799	597	8	conglomerates	conglomerate	NOUN
taxlaw-9799	597	9	:	:	PUNCT
taxlaw-9799	597	10	ge	ge	PROPN
taxlaw-9799	597	11	,	,	PUNCT
taxlaw-9799	597	12	j&j	j&j	PROPN
taxlaw-9799	597	13	and	and	CCONJ
taxlaw-9799	597	14	toshiba	toshiba	PROPN
taxlaw-9799	597	15	all	all	PRON
taxlaw-9799	597	16	reveal	reveal	VERB
taxlaw-9799	597	17	plans	plan	NOUN
taxlaw-9799	597	18	to	to	PART
taxlaw-9799	597	19	break	break	VERB
taxlaw-9799	597	20	themselves	themselves	PRON
taxlaw-9799	597	21	up	up	ADP
taxlaw-9799	597	22	,	,	PUNCT
taxlaw-9799	597	23	forbes	forbes	PROPN
taxlaw-9799	597	24	(	(	PUNCT
taxlaw-9799	597	25	nov	nov	PROPN
taxlaw-9799	597	26	.	.	PROPN
taxlaw-9799	597	27	14	14	NUM
taxlaw-9799	597	28	,	,	PUNCT
taxlaw-9799	597	29	2021	2021	NUM
taxlaw-9799	597	30	)	)	PUNCT
taxlaw-9799	597	31	,	,	PUNCT
taxlaw-9799	597	32	https://www.forbes.com/sites/kevindowd/2021/11/14/death-to-conglomerates-ge-jj-and-toshibaall-reveal-plans-to-break-themselves-up/?sh=6c677a584d70/	https://www.forbes.com/sites/kevindowd/2021/11/14/death-to-conglomerates-ge-jj-and-toshibaall-reveal-plans-to-break-themselves-up/?sh=6c677a584d70/	PROPN
taxlaw-9799	598	1	[	[	X
taxlaw-9799	598	2	https://perma.cc/2lrq-sdap	https://perma.cc/2lrq-sdap	PROPN
taxlaw-9799	598	3	]	]	PUNCT
taxlaw-9799	598	4	.	.	PUNCT
taxlaw-9799	599	1	introduction	introduction	NOUN
taxlaw-9799	599	2	i.	i.	PROPN
taxlaw-9799	599	3	the	the	DET
taxlaw-9799	599	4	problems	problem	NOUN
taxlaw-9799	599	5	with	with	ADP
taxlaw-9799	599	6	conglomeration	conglomeration	NOUN
taxlaw-9799	599	7	ii	ii	PROPN
taxlaw-9799	599	8	.	.	PUNCT
taxlaw-9799	599	9	conglomerate	conglomerate	NOUN
taxlaw-9799	599	10	spin	spin	NOUN
taxlaw-9799	599	11	-	-	PUNCT
taxlaw-9799	599	12	offs	off	NOUN
taxlaw-9799	599	13	1	1	NUM
taxlaw-9799	599	14	.	.	PUNCT
taxlaw-9799	599	15	statutory	statutory	ADJ
taxlaw-9799	599	16	requirements	requirement	NOUN
taxlaw-9799	599	17	a.	a.	NOUN
taxlaw-9799	599	18	distribution	distribution	NOUN
taxlaw-9799	599	19	of	of	ADP
taxlaw-9799	599	20	control	control	PROPN
taxlaw-9799	599	21	b.	b.	PROPN
taxlaw-9799	599	22	active	active	ADJ
taxlaw-9799	599	23	conduct	conduct	NOUN
taxlaw-9799	599	24	of	of	ADP
taxlaw-9799	599	25	a	a	DET
taxlaw-9799	599	26	trade	trade	NOUN
taxlaw-9799	599	27	or	or	CCONJ
taxlaw-9799	599	28	business	business	NOUN
taxlaw-9799	599	29	c.	c.	NOUN
taxlaw-9799	599	30	nondevice	nondevice	PROPN
taxlaw-9799	599	31	2	2	NUM
taxlaw-9799	599	32	.	.	PUNCT
taxlaw-9799	599	33	additional	additional	ADJ
taxlaw-9799	599	34	statutory	statutory	ADJ
taxlaw-9799	599	35	anti	anti	ADJ
taxlaw-9799	599	36	-	-	ADJ
taxlaw-9799	599	37	abuse	abuse	ADJ
taxlaw-9799	599	38	provisions	provision	NOUN
taxlaw-9799	599	39	a.	a.	NOUN
taxlaw-9799	599	40	section	section	NOUN
taxlaw-9799	599	41	355(d	355(d	PROPN
taxlaw-9799	599	42	):	):	PUNCT
taxlaw-9799	599	43	“	"	PUNCT
taxlaw-9799	599	44	disqualified	disqualify	VERB
taxlaw-9799	599	45	distributions	distribution	NOUN
taxlaw-9799	599	46	”	"	PUNCT
taxlaw-9799	599	47	b.	b.	PROPN
taxlaw-9799	599	48	section	section	NOUN
taxlaw-9799	599	49	355(e	355(e	PROPN
taxlaw-9799	599	50	):	):	PUNCT
taxlaw-9799	599	51	anti	anti	ADJ
taxlaw-9799	599	52	-	-	ADJ
taxlaw-9799	599	53	morris	morris	ADJ
taxlaw-9799	599	54	trust	trust	NOUN
taxlaw-9799	599	55	provision	provision	NOUN
taxlaw-9799	599	56	3	3	NUM
taxlaw-9799	599	57	.	.	PUNCT
taxlaw-9799	600	1	nonstatutory	nonstatutory	ADJ
taxlaw-9799	600	2	requirements	requirement	NOUN
taxlaw-9799	600	3	a.	a.	PROPN
taxlaw-9799	600	4	corporate	corporate	PROPN
taxlaw-9799	600	5	business	business	NOUN
taxlaw-9799	600	6	purpose	purpose	NOUN
taxlaw-9799	600	7	b.	b.	PROPN
taxlaw-9799	600	8	continuity	continuity	NOUN
taxlaw-9799	600	9	of	of	ADP
taxlaw-9799	600	10	interest	interest	NOUN
taxlaw-9799	600	11	4	4	NUM
taxlaw-9799	600	12	.	.	PUNCT
taxlaw-9799	601	1	two	two	NUM
taxlaw-9799	601	2	additional	additional	ADJ
taxlaw-9799	601	3	considerations	consideration	NOUN
taxlaw-9799	601	4	a.	a.	NOUN
taxlaw-9799	601	5	section	section	NOUN
taxlaw-9799	601	6	367	367	NUM
taxlaw-9799	601	7	:	:	PUNCT
taxlaw-9799	601	8	international	international	ADJ
taxlaw-9799	601	9	spin	spin	NOUN
taxlaw-9799	601	10	-	-	PUNCT
taxlaw-9799	601	11	offs	off	NOUN
taxlaw-9799	601	12	b.	b.	PROPN
taxlaw-9799	601	13	private	private	ADJ
taxlaw-9799	601	14	letter	letter	NOUN
taxlaw-9799	601	15	rulings	rulings	PROPN
taxlaw-9799	601	16	iii	iii	PROPN
taxlaw-9799	601	17	.	.	PUNCT
taxlaw-9799	601	18	liberty	liberty	PROPN
taxlaw-9799	601	19	’s	’s	PART
taxlaw-9799	601	20	spin	spin	NOUN
taxlaw-9799	601	21	-	-	PUNCT
taxlaw-9799	601	22	off	off	NOUN
taxlaw-9799	601	23	of	of	ADP
taxlaw-9799	601	24	tripadvisor	tripadvisor	PROPN
taxlaw-9799	601	25	iv	iv	PROPN
taxlaw-9799	601	26	.	.	PUNCT
taxlaw-9799	601	27	yahoo	yahoo	PROPN
taxlaw-9799	601	28	’s	’s	PART
taxlaw-9799	601	29	failed	fail	VERB
taxlaw-9799	601	30	spin	spin	NOUN
taxlaw-9799	601	31	-	-	PUNCT
taxlaw-9799	601	32	off	off	NOUN
taxlaw-9799	601	33	of	of	ADP
taxlaw-9799	601	34	alibaba	alibaba	PROPN
taxlaw-9799	601	35	conclusion	conclusion	NOUN