id	sid	tid	token	lemma	pos
ftr-309	1	1	florida	florida	PROPN
ftr-309	1	2	tax	tax	PROPN
ftr-309	1	3	review	review	NOUN
ftr-309	1	4	volume	volume	NOUN
ftr-309	1	5	14	14	NUM
ftr-309	1	6	2013	2013	NUM
ftr-309	1	7	number	number	NOUN
ftr-309	1	8	5	5	NUM
ftr-309	1	9	was	be	AUX
ftr-309	1	10	blackstone	blackstone	NOUN
ftr-309	1	11	's	's	PART
ftr-309	1	12	initial	initial	ADJ
ftr-309	1	13	public	public	ADJ
ftr-309	1	14	offering	offering	NOUN
ftr-309	1	15	too	too	ADV
ftr-309	1	16	good	good	ADJ
ftr-309	1	17	to	to	PART
ftr-309	1	18	be	be	AUX
ftr-309	1	19	true	true	ADJ
ftr-309	1	20	?	?	PUNCT
ftr-309	1	21	:	:	PUNCT
ftr-309	1	22	a	a	DET
ftr-309	1	23	case	case	NOUN
ftr-309	1	24	study	study	NOUN
ftr-309	1	25	in	in	ADP
ftr-309	1	26	closing	closing	NOUN
ftr-309	1	27	loopholes	loophole	NOUN
ftr-309	1	28	in	in	ADP
ftr-309	1	29	the	the	DET
ftr-309	1	30	partnership	partnership	NOUN
ftr-309	1	31	tax	tax	NOUN
ftr-309	1	32	allocation	allocation	NOUN
ftr-309	1	33	rules	rule	NOUN
ftr-309	1	34	by	by	ADP
ftr-309	1	35	emily	emily	PROPN
ftr-309	1	36	cauble	cauble	PROPN
ftr-309	1	37	*	*	PUNCT
ftr-309	1	38	abstract	abstract	ADJ
ftr-309	1	39	typically	typically	ADV
ftr-309	1	40	,	,	PUNCT
ftr-309	1	41	publicly	publicly	ADV
ftr-309	1	42	traded	trade	VERB
ftr-309	1	43	entities	entity	NOUN
ftr-309	1	44	must	must	AUX
ftr-309	1	45	be	be	AUX
ftr-309	1	46	treated	treat	VERB
ftr-309	1	47	as	as	ADP
ftr-309	1	48	corporations	corporation	NOUN
ftr-309	1	49	for	for	ADP
ftr-309	1	50	tax	tax	NOUN
ftr-309	1	51	purposes	purpose	NOUN
ftr-309	1	52	.	.	PUNCT
ftr-309	2	1	blackstone	blackstone	NOUN
ftr-309	2	2	group	group	PROPN
ftr-309	2	3	lp	lp	PROPN
ftr-309	2	4	is	be	AUX
ftr-309	2	5	publicly	publicly	ADV
ftr-309	2	6	traded	trade	VERB
ftr-309	2	7	,	,	PUNCT
ftr-309	2	8	yet	yet	CCONJ
ftr-309	2	9	it	it	PRON
ftr-309	2	10	is	be	AUX
ftr-309	2	11	not	not	PART
ftr-309	2	12	treated	treat	VERB
ftr-309	2	13	as	as	ADP
ftr-309	2	14	a	a	DET
ftr-309	2	15	corporation	corporation	NOUN
ftr-309	2	16	for	for	ADP
ftr-309	2	17	tax	tax	NOUN
ftr-309	2	18	purposes	purpose	NOUN
ftr-309	2	19	.	.	PUNCT
ftr-309	3	1	why	why	SCONJ
ftr-309	3	2	not	not	PART
ftr-309	3	3	?	?	PUNCT
ftr-309	4	1	blackstone	blackstone	NOUN
ftr-309	4	2	group	group	NOUN
ftr-309	4	3	lp	lp	PROPN
ftr-309	4	4	utilizes	utilize	VERB
ftr-309	4	5	complex	complex	ADJ
ftr-309	4	6	tax	tax	NOUN
ftr-309	4	7	structuring	structuring	NOUN
ftr-309	4	8	in	in	ADP
ftr-309	4	9	order	order	NOUN
ftr-309	4	10	to	to	PART
ftr-309	4	11	qualify	qualify	VERB
ftr-309	4	12	for	for	ADP
ftr-309	4	13	an	an	DET
ftr-309	4	14	exception	exception	NOUN
ftr-309	4	15	from	from	ADP
ftr-309	4	16	the	the	DET
ftr-309	4	17	typical	typical	ADJ
ftr-309	4	18	corporate	corporate	ADJ
ftr-309	4	19	tax	tax	NOUN
ftr-309	4	20	treatment	treatment	NOUN
ftr-309	4	21	and	and	CCONJ
ftr-309	4	22	,	,	PUNCT
ftr-309	4	23	in	in	ADP
ftr-309	4	24	the	the	DET
ftr-309	4	25	process	process	NOUN
ftr-309	4	26	,	,	PUNCT
ftr-309	4	27	saves	save	VERB
ftr-309	4	28	millions	million	NOUN
ftr-309	4	29	of	of	ADP
ftr-309	4	30	dollars	dollar	NOUN
ftr-309	4	31	in	in	ADP
ftr-309	4	32	tax	tax	NOUN
ftr-309	4	33	liability	liability	NOUN
ftr-309	4	34	annually	annually	ADV
ftr-309	4	35	.	.	PUNCT
ftr-309	5	1	members	member	NOUN
ftr-309	5	2	of	of	ADP
ftr-309	5	3	congress	congress	PROPN
ftr-309	5	4	have	have	AUX
ftr-309	5	5	proposed	propose	VERB
ftr-309	5	6	reforms	reform	NOUN
ftr-309	5	7	that	that	PRON
ftr-309	5	8	would	would	AUX
ftr-309	5	9	have	have	AUX
ftr-309	5	10	prevented	prevent	VERB
ftr-309	5	11	blackstone	blackstone	NOUN
ftr-309	5	12	group	group	NOUN
ftr-309	5	13	lp	lp	NOUN
ftr-309	5	14	from	from	ADP
ftr-309	5	15	reducing	reduce	VERB
ftr-309	5	16	its	its	PRON
ftr-309	5	17	tax	tax	NOUN
ftr-309	5	18	liability	liability	NOUN
ftr-309	5	19	in	in	ADP
ftr-309	5	20	this	this	DET
ftr-309	5	21	manner	manner	NOUN
ftr-309	5	22	.	.	PUNCT
ftr-309	6	1	however	however	ADV
ftr-309	6	2	,	,	PUNCT
ftr-309	6	3	these	these	DET
ftr-309	6	4	reforms	reform	NOUN
ftr-309	6	5	were	be	AUX
ftr-309	6	6	not	not	PART
ftr-309	6	7	enacted	enact	VERB
ftr-309	6	8	this	this	DET
ftr-309	6	9	article	article	NOUN
ftr-309	6	10	takes	take	VERB
ftr-309	6	11	a	a	DET
ftr-309	6	12	different	different	ADJ
ftr-309	6	13	approach	approach	NOUN
ftr-309	6	14	.	.	PUNCT
ftr-309	7	1	it	it	PRON
ftr-309	7	2	argues	argue	VERB
ftr-309	7	3	that	that	SCONJ
ftr-309	7	4	existing	exist	VERB
ftr-309	7	5	law	law	NOUN
ftr-309	7	6	already	already	ADV
ftr-309	7	7	provides	provide	VERB
ftr-309	7	8	the	the	DET
ftr-309	7	9	irs	irs	PROPN
ftr-309	7	10	with	with	ADP
ftr-309	7	11	the	the	DET
ftr-309	7	12	tools	tool	NOUN
ftr-309	7	13	needed	need	VERB
ftr-309	7	14	to	to	PART
ftr-309	7	15	challenge	challenge	VERB
ftr-309	7	16	the	the	DET
ftr-309	7	17	legitimacy	legitimacy	NOUN
ftr-309	7	18	of	of	ADP
ftr-309	7	19	the	the	DET
ftr-309	7	20	results	result	NOUN
ftr-309	7	21	claimed	claim	VERB
ftr-309	7	22	by	by	ADP
ftr-309	7	23	blackstone	blackstone	PROPN
ftr-309	7	24	group	group	PROPN
ftr-309	7	25	lp	lp	PROPN
ftr-309	7	26	.	.	PUNCT
ftr-309	8	1	in	in	ADP
ftr-309	8	2	the	the	DET
ftr-309	8	3	process	process	NOUN
ftr-309	8	4	,	,	PUNCT
ftr-309	8	5	this	this	DET
ftr-309	8	6	article	article	NOUN
ftr-309	8	7	highlights	highlight	VERB
ftr-309	8	8	an	an	DET
ftr-309	8	9	important	important	ADJ
ftr-309	8	10	and	and	CCONJ
ftr-309	8	11	unintended	unintended	ADJ
ftr-309	8	12	loophole	loophole	NOUN
ftr-309	8	13	in	in	ADP
ftr-309	8	14	existing	exist	VERB
ftr-309	8	15	partnership	partnership	NOUN
ftr-309	8	16	tax	tax	NOUN
ftr-309	8	17	allocation	allocation	NOUN
ftr-309	8	18	rules	rule	NOUN
ftr-309	8	19	specifically	specifically	ADV
ftr-309	8	20	,	,	PUNCT
ftr-309	8	21	the	the	DET
ftr-309	8	22	failure	failure	NOUN
ftr-309	8	23	of	of	ADP
ftr-309	8	24	the	the	DET
ftr-309	8	25	rules	rule	NOUN
ftr-309	8	26	to	to	PART
ftr-309	8	27	adequately	adequately	ADV
ftr-309	8	28	address	address	VERB
ftr-309	8	29	allocations	allocation	NOUN
ftr-309	8	30	among	among	ADP
ftr-309	8	31	related	related	ADJ
ftr-309	8	32	partners	partner	NOUN
ftr-309	8	33	.	.	PUNCT
ftr-309	9	1	finally	finally	ADV
ftr-309	9	2	,	,	PUNCT
ftr-309	9	3	this	this	DET
ftr-309	9	4	article	article	NOUN
ftr-309	9	5	proposes	propose	VERB
ftr-309	9	6	that	that	SCONJ
ftr-309	9	7	the	the	DET
ftr-309	9	8	irs	irs	PROPN
ftr-309	9	9	use	use	VERB
ftr-309	9	10	general	general	ADJ
ftr-309	9	11	tax	tax	NOUN
ftr-309	9	12	law	law	NOUN
ftr-309	9	13	standards	standard	NOUN
ftr-309	9	14	to	to	PART
ftr-309	9	15	close	close	VERB
ftr-309	9	16	this	this	DET
ftr-309	9	17	unintended	unintended	ADJ
ftr-309	9	18	loophole	loophole	NOUN
ftr-309	9	19	.	.	PUNCT
ftr-309	10	1	*	*	PUNCT
ftr-309	10	2	assistant	assistant	NOUN
ftr-309	10	3	professor	professor	NOUN
ftr-309	10	4	,	,	PUNCT
ftr-309	10	5	michigan	michigan	PROPN
ftr-309	10	6	state	state	PROPN
ftr-309	10	7	university	university	PROPN
ftr-309	10	8	college	college	PROPN
ftr-309	10	9	of	of	ADP
ftr-309	10	10	law	law	NOUN
ftr-309	10	11	(	(	PUNCT
ftr-309	10	12	visiting	visit	VERB
ftr-309	10	13	at	at	ADP
ftr-309	10	14	depaul	depaul	PROPN
ftr-309	10	15	university	university	PROPN
ftr-309	10	16	college	college	PROPN
ftr-309	10	17	of	of	ADP
ftr-309	10	18	law	law	NOUN
ftr-309	10	19	)	)	PUNCT
ftr-309	10	20	.	.	PUNCT
ftr-309	11	1	the	the	DET
ftr-309	11	2	author	author	NOUN
ftr-309	11	3	would	would	AUX
ftr-309	11	4	like	like	VERB
ftr-309	11	5	to	to	PART
ftr-309	11	6	thank	thank	VERB
ftr-309	11	7	daniel	daniel	PROPN
ftr-309	11	8	barnhizer	barnhizer	PROPN
ftr-309	11	9	,	,	PUNCT
ftr-309	11	10	jennifer	jennifer	PROPN
ftr-309	11	11	bird	bird	NOUN
ftr-309	11	12	-	-	PUNCT
ftr-309	11	13	pollan	pollan	PROPN
ftr-309	11	14	,	,	PUNCT
ftr-309	11	15	samuel	samuel	PROPN
ftr-309	11	16	brunson	brunson	PROPN
ftr-309	11	17	,	,	PUNCT
ftr-309	11	18	adam	adam	PROPN
ftr-309	11	19	chodorow	chodorow	PROPN
ftr-309	11	20	,	,	PUNCT
ftr-309	11	21	heather	heather	NOUN
ftr-309	11	22	field	field	NOUN
ftr-309	11	23	,	,	PUNCT
ftr-309	11	24	jerold	jerold	PROPN
ftr-309	11	25	friedland	friedland	PROPN
ftr-309	11	26	,	,	PUNCT
ftr-309	11	27	andrew	andrew	PROPN
ftr-309	11	28	gold	gold	PROPN
ftr-309	11	29	,	,	PUNCT
ftr-309	11	30	max	max	PROPN
ftr-309	11	31	helveston	helveston	PROPN
ftr-309	11	32	,	,	PUNCT
ftr-309	11	33	david	david	PROPN
ftr-309	11	34	herzig	herzig	PROPN
ftr-309	11	35	,	,	PUNCT
ftr-309	11	36	michael	michael	PROPN
ftr-309	11	37	jacobs	jacobs	PROPN
ftr-309	11	38	,	,	PUNCT
ftr-309	11	39	jeffrey	jeffrey	PROPN
ftr-309	11	40	kwall	kwall	PROPN
ftr-309	11	41	,	,	PUNCT
ftr-309	11	42	cary	cary	PROPN
ftr-309	11	43	martin	martin	PROPN
ftr-309	11	44	,	,	PUNCT
ftr-309	11	45	martin	martin	PROPN
ftr-309	11	46	mcmahon	mcmahon	PROPN
ftr-309	11	47	,	,	PUNCT
ftr-309	11	48	andrea	andrea	PROPN
ftr-309	11	49	monroe	monroe	PROPN
ftr-309	11	50	,	,	PUNCT
ftr-309	11	51	daniel	daniel	PROPN
ftr-309	11	52	morales	morales	PROPN
ftr-309	11	53	,	,	PUNCT
ftr-309	11	54	susan	susan	PROPN
ftr-309	11	55	morse	morse	PROPN
ftr-309	11	56	,	,	PUNCT
ftr-309	11	57	michael	michael	PROPN
ftr-309	11	58	sant'ambrogio	sant'ambrogio	PROPN
ftr-309	11	59	,	,	PUNCT
ftr-309	11	60	joshua	joshua	PROPN
ftr-309	11	61	sarnoff	sarnoff	PROPN
ftr-309	11	62	,	,	PUNCT
ftr-309	11	63	jeffrey	jeffrey	PROPN
ftr-309	11	64	shaman	shaman	PROPN
ftr-309	11	65	,	,	PUNCT
ftr-309	11	66	stephen	stephen	PROPN
ftr-309	11	67	siegel	siegel	PROPN
ftr-309	11	68	,	,	PUNCT
ftr-309	11	69	susannah	susannah	PROPN
ftr-309	11	70	camic	camic	PROPN
ftr-309	11	71	tahk	tahk	PROPN
ftr-309	11	72	,	,	PUNCT
ftr-309	11	73	jeremy	jeremy	PROPN
ftr-309	11	74	telman	telman	PROPN
ftr-309	11	75	,	,	PUNCT
ftr-309	11	76	deborah	deborah	PROPN
ftr-309	11	77	tuerkheimer	tuerkheimer	PROPN
ftr-309	11	78	,	,	PUNCT
ftr-309	11	79	ben	ben	PROPN
ftr-309	11	80	walther	walther	PROPN
ftr-309	11	81	,	,	PUNCT
ftr-309	11	82	mark	mark	PROPN
ftr-309	11	83	weber	weber	PROPN
ftr-309	11	84	,	,	PUNCT
ftr-309	11	85	the	the	DET
ftr-309	11	86	editors	editor	NOUN
ftr-309	11	87	of	of	ADP
ftr-309	11	88	the	the	DET
ftr-309	11	89	florida	florida	PROPN
ftr-309	11	90	tax	tax	PROPN
ftr-309	11	91	review	review	NOUN
ftr-309	11	92	,	,	PUNCT
ftr-309	11	93	and	and	CCONJ
ftr-309	11	94	participants	participant	NOUN
ftr-309	11	95	at	at	ADP
ftr-309	11	96	the	the	DET
ftr-309	11	97	16th	16th	ADJ
ftr-309	11	98	annual	annual	ADJ
ftr-309	11	99	critical	critical	ADJ
ftr-309	11	100	tax	tax	NOUN
ftr-309	11	101	theory	theory	NOUN
ftr-309	11	102	conference	conference	NOUN
ftr-309	11	103	hosted	host	VERB
ftr-309	11	104	by	by	ADP
ftr-309	11	105	the	the	DET
ftr-309	11	106	university	university	PROPN
ftr-309	11	107	of	of	ADP
ftr-309	11	108	california	california	PROPN
ftr-309	11	109	hastings	hastings	PROPN
ftr-309	11	110	college	college	PROPN
ftr-309	11	111	of	of	ADP
ftr-309	11	112	law	law	NOUN
ftr-309	11	113	in	in	ADP
ftr-309	11	114	april	april	PROPN
ftr-309	11	115	2013	2013	NUM
ftr-309	11	116	for	for	ADP
ftr-309	11	117	their	their	PRON
ftr-309	11	118	valuable	valuable	ADJ
ftr-309	11	119	comments	comment	NOUN
ftr-309	11	120	.	.	PUNCT
ftr-309	12	1	this	this	DET
ftr-309	12	2	article	article	NOUN
ftr-309	12	3	will	will	AUX
ftr-309	12	4	be	be	AUX
ftr-309	12	5	presented	present	VERB
ftr-309	12	6	at	at	ADP
ftr-309	12	7	the	the	DET
ftr-309	12	8	law	law	NOUN
ftr-309	12	9	and	and	CCONJ
ftr-309	12	10	society	society	NOUN
ftr-309	12	11	conference	conference	NOUN
ftr-309	12	12	in	in	ADP
ftr-309	12	13	boston	boston	PROPN
ftr-309	12	14	,	,	PUNCT
ftr-309	12	15	massachusetts	massachusetts	PROPN
ftr-309	12	16	in	in	ADP
ftr-309	12	17	june	june	PROPN
ftr-309	12	18	2013	2013	NUM
ftr-309	12	19	.	.	PUNCT
ftr-309	13	1	153	153	NUM
ftr-309	13	2	florida	florida	PROPN
ftr-309	13	3	tax	tax	NOUN
ftr-309	13	4	review	review	NOUN
ftr-309	13	5	1	1	NUM
ftr-309	13	6	.	.	PUNCT
ftr-309	13	7	introduction	introduction	NOUN
ftr-309	13	8	......................................	......................................	PUNCT
ftr-309	13	9	155	155	NUM
ftr-309	13	10	ii	ii	NOUN
ftr-309	13	11	.	.	PUNCT
ftr-309	14	1	background	background	NOUN
ftr-309	14	2	:	:	PUNCT
ftr-309	14	3	what	what	PRON
ftr-309	14	4	does	do	AUX
ftr-309	14	5	the	the	DET
ftr-309	14	6	blackstone	blackstone	NOUN
ftr-309	14	7	group	group	NOUN
ftr-309	14	8	structure	structure	NOUN
ftr-309	14	9	attempt	attempt	NOUN
ftr-309	14	10	to	to	PART
ftr-309	14	11	accomplish	accomplish	VERB
ftr-309	14	12	?	?	PUNCT
ftr-309	14	13	.	.	PUNCT
ftr-309	14	14	.	.	PUNCT
ftr-309	14	15	.	.	PUNCT
ftr-309	14	16	.	.	PUNCT
ftr-309	14	17	.	.	PUNCT
ftr-309	14	18	.	.	PUNCT
ftr-309	14	19	.	.	PUNCT
ftr-309	14	20	.	.	PUNCT
ftr-309	14	21	.	.	PUNCT
ftr-309	14	22	.	.	PUNCT
ftr-309	14	23	.	.	PUNCT
ftr-309	14	24	.	.	PUNCT
ftr-309	14	25	.	.	PUNCT
ftr-309	15	1	..	..	PUNCT
ftr-309	15	2	..	..	PUNCT
ftr-309	15	3	.	.	PUNCT
ftr-309	16	1	.	.	PUNCT
ftr-309	17	1	159	159	NUM
ftr-309	17	2	a.	a.	NOUN
ftr-309	17	3	publicly	publicly	ADV
ftr-309	17	4	traded	trade	VERB
ftr-309	17	5	partnership	partnership	NOUN
ftr-309	17	6	rules	rule	NOUN
ftr-309	17	7	.......	.......	PUNCT
ftr-309	17	8	................	................	PUNCT
ftr-309	17	9	163	163	NUM
ftr-309	17	10	b.	b.	NOUN
ftr-309	17	11	distribution	distribution	NOUN
ftr-309	17	12	by	by	ADP
ftr-309	17	13	a	a	DET
ftr-309	17	14	corporation	corporation	NOUN
ftr-309	17	15	...................	...................	PUNCT
ftr-309	17	16	164	164	NUM
ftr-309	17	17	c.	c.	NOUN
ftr-309	17	18	tax	tax	NOUN
ftr-309	17	19	treatment	treatment	NOUN
ftr-309	17	20	of	of	ADP
ftr-309	17	21	a	a	DET
ftr-309	17	22	u.s	u.s	PROPN
ftr-309	17	23	.	.	PROPN
ftr-309	17	24	corporation	corporation	NOUN
ftr-309	17	25	........	........	PUNCT
ftr-309	17	26	..........	..........	PUNCT
ftr-309	18	1	164	164	NUM
ftr-309	18	2	d.	d.	PROPN
ftr-309	18	3	tax	tax	NOUN
ftr-309	18	4	treatment	treatment	NOUN
ftr-309	18	5	of	of	ADP
ftr-309	18	6	a	a	DET
ftr-309	18	7	nonu.s	nonu.s	PROPN
ftr-309	18	8	.	.	PUNCT
ftr-309	19	1	corporation	corporation	PROPN
ftr-309	19	2	.....	.....	PUNCT
ftr-309	19	3	......	......	PUNCT
ftr-309	20	1	165	165	NUM
ftr-309	20	2	e.	e.	PROPN
ftr-309	20	3	partnership	partnership	PROPN
ftr-309	20	4	allocations	allocation	NOUN
ftr-309	20	5	........................	........................	PUNCT
ftr-309	20	6	166	166	NUM
ftr-309	20	7	f.	f.	PROPN
ftr-309	20	8	summary	summary	PROPN
ftr-309	20	9	:	:	PUNCT
ftr-309	20	10	how	how	SCONJ
ftr-309	20	11	the	the	DET
ftr-309	20	12	pieces	piece	NOUN
ftr-309	20	13	come	come	VERB
ftr-309	20	14	together	together	ADV
ftr-309	20	15	.....	.....	PUNCT
ftr-309	20	16	.....	.....	PUNCT
ftr-309	20	17	169	169	NUM
ftr-309	20	18	iii	iii	NOUN
ftr-309	20	19	.	.	PUNCT
ftr-309	21	1	the	the	DET
ftr-309	21	2	blackstone	blackstone	NOUN
ftr-309	21	3	group	group	NOUN
ftr-309	21	4	structure	structure	NOUN
ftr-309	21	5	takes	take	VERB
ftr-309	21	6	advantage	advantage	NOUN
ftr-309	21	7	of	of	ADP
ftr-309	21	8	an	an	DET
ftr-309	21	9	unintended	unintended	ADJ
ftr-309	21	10	loophole	loophole	NOUN
ftr-309	21	11	in	in	ADP
ftr-309	21	12	the	the	DET
ftr-309	21	13	partnership	partnership	NOUN
ftr-309	21	14	tax	tax	NOUN
ftr-309	21	15	allocation	allocation	NOUN
ftr-309	21	16	rules	rule	NOUN
ftr-309	21	17	.....................................	.....................................	PUNCT
ftr-309	21	18	169	169	NUM
ftr-309	21	19	a.	a.	NOUN
ftr-309	21	20	the	the	DET
ftr-309	21	21	partnership	partnership	NOUN
ftr-309	21	22	tax	tax	NOUN
ftr-309	21	23	allocations	allocation	NOUN
ftr-309	21	24	rules	rule	NOUN
ftr-309	21	25	......	......	PUNCT
ftr-309	21	26	...........	...........	PUNCT
ftr-309	22	1	174	174	NUM
ftr-309	22	2	1	1	NUM
ftr-309	22	3	.	.	PUNCT
ftr-309	22	4	economic	economic	ADJ
ftr-309	22	5	effect	effect	NOUN
ftr-309	22	6	:	:	PUNCT
ftr-309	22	7	the	the	DET
ftr-309	22	8	rules	rule	NOUN
ftr-309	22	9	.......................	.......................	PUNCT
ftr-309	23	1	175	175	NUM
ftr-309	23	2	(	(	PUNCT
ftr-309	23	3	i	i	NOUN
ftr-309	23	4	)	)	PUNCT
ftr-309	23	5	capital	capital	NOUN
ftr-309	23	6	account	account	NOUN
ftr-309	23	7	maintenance	maintenance	NOUN
ftr-309	23	8	......	......	PUNCT
ftr-309	23	9	......	......	PUNCT
ftr-309	24	1	176	176	NUM
ftr-309	24	2	(	(	PUNCT
ftr-309	24	3	ii	ii	NOUN
ftr-309	24	4	)	)	PUNCT
ftr-309	24	5	liquidating	liquidating	NOUN
ftr-309	24	6	based	base	VERB
ftr-309	24	7	on	on	ADP
ftr-309	24	8	capital	capital	NOUN
ftr-309	24	9	account	account	NOUN
ftr-309	24	10	balances	balance	NOUN
ftr-309	24	11	...............................	...............................	PUNCT
ftr-309	25	1	177	177	NUM
ftr-309	25	2	2	2	NUM
ftr-309	25	3	.	.	PUNCT
ftr-309	25	4	economic	economic	ADJ
ftr-309	25	5	effect	effect	NOUN
ftr-309	25	6	:	:	PUNCT
ftr-309	25	7	the	the	DET
ftr-309	25	8	implicit	implicit	ADJ
ftr-309	25	9	assumption	assumption	NOUN
ftr-309	25	10	:	:	PUNCT
ftr-309	25	11	unrelated	unrelated	ADJ
ftr-309	25	12	partners	partner	NOUN
ftr-309	25	13	......................	......................	PUNCT
ftr-309	25	14	177	177	NUM
ftr-309	25	15	3	3	X
ftr-309	25	16	.	.	PUNCT
ftr-309	25	17	substantiality	substantiality	NOUN
ftr-309	25	18	:	:	PUNCT
ftr-309	25	19	the	the	DET
ftr-309	25	20	rules	rule	NOUN
ftr-309	25	21	..................	..................	PUNCT
ftr-309	25	22	178	178	NUM
ftr-309	25	23	4	4	NUM
ftr-309	25	24	.	.	PUNCT
ftr-309	25	25	substantiality	substantiality	NOUN
ftr-309	25	26	:	:	PUNCT
ftr-309	25	27	the	the	DET
ftr-309	25	28	implicit	implicit	ADJ
ftr-309	25	29	assumption	assumption	NOUN
ftr-309	25	30	:	:	PUNCT
ftr-309	25	31	unrelated	unrelated	ADJ
ftr-309	25	32	partners	partner	NOUN
ftr-309	25	33	......................	......................	PUNCT
ftr-309	26	1	182	182	NUM
ftr-309	26	2	b.	b.	NOUN
ftr-309	26	3	the	the	DET
ftr-309	26	4	blackstone	blackstone	NOUN
ftr-309	26	5	group	group	NOUN
ftr-309	26	6	structure	structure	NOUN
ftr-309	26	7	takes	take	VERB
ftr-309	26	8	advantage	advantage	NOUN
ftr-309	26	9	of	of	ADP
ftr-309	26	10	the	the	DET
ftr-309	26	11	partnership	partnership	NOUN
ftr-309	26	12	tax	tax	NOUN
ftr-309	26	13	allocation	allocation	NOUN
ftr-309	26	14	rules	rule	NOUN
ftr-309	26	15	'	'	PART
ftr-309	26	16	inability	inability	NOUN
ftr-309	26	17	to	to	PART
ftr-309	26	18	prevent	prevent	VERB
ftr-309	26	19	tax	tax	NOUN
ftr-309	26	20	-	-	PUNCT
ftr-309	26	21	motivated	motivate	VERB
ftr-309	26	22	allocations	allocation	NOUN
ftr-309	26	23	among	among	ADP
ftr-309	26	24	related	related	ADJ
ftr-309	26	25	partners	partner	NOUN
ftr-309	26	26	.	.	PUNCT
ftr-309	27	1	......................	......................	PUNCT
ftr-309	28	1	......	......	PUNCT
ftr-309	29	1	186	186	NUM
ftr-309	29	2	iv	iv	NOUN
ftr-309	29	3	.	.	PUNCT
ftr-309	30	1	congressional	congressional	ADJ
ftr-309	30	2	response	response	NOUN
ftr-309	30	3	...................	...................	PUNCT
ftr-309	31	1	........	........	PUNCT
ftr-309	32	1	188	188	NUM
ftr-309	32	2	v.	v.	ADP
ftr-309	32	3	proposal	proposal	NOUN
ftr-309	32	4	:	:	PUNCT
ftr-309	32	5	using	use	VERB
ftr-309	32	6	existing	exist	VERB
ftr-309	32	7	standards	standard	NOUN
ftr-309	32	8	to	to	PART
ftr-309	32	9	close	close	VERB
ftr-309	32	10	the	the	DET
ftr-309	32	11	unintended	unintended	ADJ
ftr-309	32	12	loophole	loophole	NOUN
ftr-309	32	13	in	in	ADP
ftr-309	32	14	the	the	DET
ftr-309	32	15	partnership	partnership	NOUN
ftr-309	32	16	tax	tax	NOUN
ftr-309	32	17	allocation	allocation	NOUN
ftr-309	32	18	rules	rule	NOUN
ftr-309	32	19	......................................	......................................	PUNCT
ftr-309	32	20	190	190	NUM
ftr-309	32	21	vi	vi	NOUN
ftr-309	32	22	.	.	PUNCT
ftr-309	33	1	responding	respond	VERB
ftr-309	33	2	to	to	ADP
ftr-309	33	3	possible	possible	ADJ
ftr-309	33	4	objections	objection	NOUN
ftr-309	33	5	....................	....................	PUNCT
ftr-309	33	6	197	197	NUM
ftr-309	33	7	a.	a.	NOUN
ftr-309	33	8	the	the	DET
ftr-309	33	9	irs	irs	PROPN
ftr-309	33	10	should	should	AUX
ftr-309	33	11	not	not	PART
ftr-309	33	12	invoke	invoke	VERB
ftr-309	33	13	a	a	DET
ftr-309	33	14	standard	standard	ADJ
ftr-309	33	15	like	like	ADP
ftr-309	33	16	section	section	NOUN
ftr-309	33	17	482	482	NUM
ftr-309	33	18	in	in	ADP
ftr-309	33	19	an	an	DET
ftr-309	33	20	area	area	NOUN
ftr-309	33	21	covered	cover	VERB
ftr-309	33	22	by	by	ADP
ftr-309	33	23	specific	specific	ADJ
ftr-309	33	24	rules	rule	NOUN
ftr-309	33	25	...........	...........	PUNCT
ftr-309	33	26	198	198	NUM
ftr-309	33	27	b.	b.	VERB
ftr-309	33	28	challenging	challenge	VERB
ftr-309	33	29	the	the	DET
ftr-309	33	30	current	current	ADJ
ftr-309	33	31	structure	structure	NOUN
ftr-309	33	32	would	would	AUX
ftr-309	33	33	lead	lead	VERB
ftr-309	33	34	to	to	ADP
ftr-309	33	35	undesirable	undesirable	ADJ
ftr-309	33	36	consequences	consequence	NOUN
ftr-309	33	37	................	................	PUNCT
ftr-309	34	1	.....	.....	PUNCT
ftr-309	34	2	199	199	NUM
ftr-309	34	3	c.	c.	PROPN
ftr-309	34	4	blackstone	blackstone	PROPN
ftr-309	34	5	group	group	NOUN
ftr-309	34	6	's	's	PART
ftr-309	34	7	structuring	structuring	NOUN
ftr-309	34	8	produces	produce	VERB
ftr-309	34	9	a	a	DET
ftr-309	34	10	logical	logical	ADJ
ftr-309	34	11	result	result	NOUN
ftr-309	34	12	despite	despite	SCONJ
ftr-309	34	13	illogical	illogical	ADJ
ftr-309	34	14	rules	rule	NOUN
ftr-309	34	15	..........	..........	PUNCT
ftr-309	34	16	............	............	PUNCT
ftr-309	35	1	200	200	NUM
ftr-309	35	2	d.	d.	NOUN
ftr-309	35	3	the	the	DET
ftr-309	35	4	damage	damage	NOUN
ftr-309	35	5	is	be	AUX
ftr-309	35	6	contained	contain	VERB
ftr-309	35	7	.................	.................	PUNCT
ftr-309	36	1	.....	.....	PUNCT
ftr-309	36	2	204	204	NUM
ftr-309	36	3	e.	e.	PROPN
ftr-309	36	4	blackstone	blackstone	PROPN
ftr-309	36	5	group	group	NOUN
ftr-309	36	6	did	do	AUX
ftr-309	36	7	not	not	PART
ftr-309	36	8	engage	engage	VERB
ftr-309	36	9	in	in	ADP
ftr-309	36	10	egregious	egregious	ADJ
ftr-309	36	11	tax	tax	NOUN
ftr-309	36	12	abuse	abuse	NOUN
ftr-309	36	13	..........................................	..........................................	PUNCT
ftr-309	37	1	205	205	NUM
ftr-309	37	2	vii	vii	PROPN
ftr-309	37	3	.	.	PUNCT
ftr-309	37	4	conclusion	conclusion	NOUN
ftr-309	37	5	...............................	...............................	PUNCT
ftr-309	37	6	.........	.........	PUNCT
ftr-309	38	1	206	206	NUM
ftr-309	38	2	154	154	NUM
ftr-309	38	3	[	[	X
ftr-309	38	4	vol	vol	NOUN
ftr-309	38	5	.	.	PUNCT
ftr-309	38	6	14:5	14:5	NUM
ftr-309	38	7	2013	2013	NUM
ftr-309	38	8	]	]	PUNCT
ftr-309	38	9	was	be	AUX
ftr-309	38	10	blackstone	blackstone	NOUN
ftr-309	38	11	's	's	PART
ftr-309	38	12	initial	initial	ADJ
ftr-309	38	13	public	public	ADJ
ftr-309	38	14	offering	offering	NOUN
ftr-309	38	15	too	too	ADV
ftr-309	38	16	good	good	ADJ
ftr-309	38	17	to	to	PART
ftr-309	38	18	be	be	AUX
ftr-309	38	19	true	true	ADJ
ftr-309	38	20	?	?	PUNCT
ftr-309	39	1	i.	i.	NOUN
ftr-309	39	2	introduction	introduction	NOUN
ftr-309	39	3	from	from	ADP
ftr-309	39	4	time	time	NOUN
ftr-309	39	5	to	to	ADP
ftr-309	39	6	time	time	NOUN
ftr-309	39	7	,	,	PUNCT
ftr-309	39	8	journalists	journalist	NOUN
ftr-309	39	9	,	,	PUNCT
ftr-309	39	10	lawmakers	lawmaker	NOUN
ftr-309	39	11	,	,	PUNCT
ftr-309	39	12	and	and	CCONJ
ftr-309	39	13	scholars	scholar	NOUN
ftr-309	39	14	have	have	AUX
ftr-309	39	15	discussed	discuss	VERB
ftr-309	39	16	and	and	CCONJ
ftr-309	39	17	criticized	criticize	VERB
ftr-309	39	18	the	the	DET
ftr-309	39	19	tax	tax	NOUN
ftr-309	39	20	treatment	treatment	NOUN
ftr-309	39	21	of	of	ADP
ftr-309	39	22	various	various	ADJ
ftr-309	39	23	aspects	aspect	NOUN
ftr-309	39	24	of	of	ADP
ftr-309	39	25	the	the	DET
ftr-309	39	26	private	private	ADJ
ftr-309	39	27	equity	equity	NOUN
ftr-309	39	28	industry	industry	NOUN
ftr-309	39	29	.	.	PUNCT
ftr-309	40	1	over	over	ADP
ftr-309	40	2	the	the	DET
ftr-309	40	3	past	past	ADJ
ftr-309	40	4	year	year	NOUN
ftr-309	40	5	,	,	PUNCT
ftr-309	40	6	publicity	publicity	NOUN
ftr-309	40	7	regarding	regard	VERB
ftr-309	40	8	bain	bain	PROPN
ftr-309	40	9	capital	capital	PROPN
ftr-309	40	10	,	,	PUNCT
ftr-309	40	11	the	the	DET
ftr-309	40	12	private	private	ADJ
ftr-309	40	13	equity	equity	NOUN
ftr-309	40	14	firm	firm	NOUN
ftr-309	40	15	founded	found	VERB
ftr-309	40	16	by	by	ADP
ftr-309	40	17	mitt	mitt	PROPN
ftr-309	40	18	romney	romney	PROPN
ftr-309	40	19	,	,	PUNCT
ftr-309	40	20	has	have	AUX
ftr-309	40	21	dragged	drag	VERB
ftr-309	40	22	the	the	DET
ftr-309	40	23	private	private	ADJ
ftr-309	40	24	equity	equity	NOUN
ftr-309	40	25	industry	industry	NOUN
ftr-309	40	26	back	back	ADV
ftr-309	40	27	into	into	ADP
ftr-309	40	28	the	the	DET
ftr-309	40	29	public	public	ADJ
ftr-309	40	30	spotlight	spotlight	NOUN
ftr-309	40	31	.	.	PUNCT
ftr-309	41	1	particularly	particularly	ADV
ftr-309	41	2	in	in	ADP
ftr-309	41	3	light	light	NOUN
ftr-309	41	4	of	of	ADP
ftr-309	41	5	the	the	DET
ftr-309	41	6	ongoing	ongoing	ADJ
ftr-309	41	7	budgetary	budgetary	ADJ
ftr-309	41	8	crisis	crisis	NOUN
ftr-309	41	9	,	,	PUNCT
ftr-309	41	10	this	this	DET
ftr-309	41	11	attention	attention	NOUN
ftr-309	41	12	will	will	AUX
ftr-309	41	13	likely	likely	ADV
ftr-309	41	14	reignite	reignite	VERB
ftr-309	41	15	debate	debate	NOUN
ftr-309	41	16	over	over	ADP
ftr-309	41	17	possible	possible	ADJ
ftr-309	41	18	reforms	reform	NOUN
ftr-309	41	19	to	to	ADP
ftr-309	41	20	the	the	DET
ftr-309	41	21	tax	tax	NOUN
ftr-309	41	22	treatment	treatment	NOUN
ftr-309	41	23	of	of	ADP
ftr-309	41	24	private	private	ADJ
ftr-309	41	25	equity	equity	NOUN
ftr-309	41	26	.	.	PUNCT
ftr-309	42	1	the	the	DET
ftr-309	42	2	likelihood	likelihood	NOUN
ftr-309	42	3	that	that	SCONJ
ftr-309	42	4	actual	actual	ADJ
ftr-309	42	5	reform	reform	NOUN
ftr-309	42	6	will	will	AUX
ftr-309	42	7	occur	occur	VERB
ftr-309	42	8	seems	seem	VERB
ftr-309	42	9	slim	slim	ADJ
ftr-309	42	10	,	,	PUNCT
ftr-309	42	11	given	give	VERB
ftr-309	42	12	that	that	SCONJ
ftr-309	42	13	lawmakers	lawmaker	NOUN
ftr-309	42	14	have	have	AUX
ftr-309	42	15	proposed	propose	VERB
ftr-309	42	16	and	and	CCONJ
ftr-309	42	17	failed	fail	VERB
ftr-309	42	18	to	to	PART
ftr-309	42	19	enact	enact	VERB
ftr-309	42	20	reform	reform	NOUN
ftr-309	42	21	in	in	ADP
ftr-309	42	22	the	the	DET
ftr-309	42	23	past	past	NOUN
ftr-309	42	24	.	.	PUNCT
ftr-309	43	1	thus	thus	ADV
ftr-309	43	2	,	,	PUNCT
ftr-309	43	3	rather	rather	ADV
ftr-309	43	4	than	than	ADP
ftr-309	43	5	propose	propose	VERB
ftr-309	43	6	legislative	legislative	ADJ
ftr-309	43	7	reform	reform	NOUN
ftr-309	43	8	,	,	PUNCT
ftr-309	43	9	this	this	DET
ftr-309	43	10	article	article	NOUN
ftr-309	43	11	advocates	advocate	VERB
ftr-309	43	12	a	a	DET
ftr-309	43	13	different	different	ADJ
ftr-309	43	14	approach	approach	NOUN
ftr-309	43	15	.	.	PUNCT
ftr-309	44	1	in	in	ADP
ftr-309	44	2	particular	particular	ADJ
ftr-309	44	3	,	,	PUNCT
ftr-309	44	4	this	this	DET
ftr-309	44	5	article	article	NOUN
ftr-309	44	6	focuses	focus	VERB
ftr-309	44	7	on	on	ADP
ftr-309	44	8	one	one	NUM
ftr-309	44	9	particular	particular	ADJ
ftr-309	44	10	transaction	transaction	NOUN
ftr-309	44	11	in	in	ADP
ftr-309	44	12	which	which	PRON
ftr-309	44	13	some	some	DET
ftr-309	44	14	private	private	ADJ
ftr-309	44	15	equity	equity	NOUN
ftr-309	44	16	firms	firm	NOUN
ftr-309	44	17	have	have	AUX
ftr-309	44	18	engaged	engage	VERB
ftr-309	44	19	initial	initial	ADJ
ftr-309	44	20	public	public	ADJ
ftr-309	44	21	offerings	offering	NOUN
ftr-309	44	22	and	and	CCONJ
ftr-309	44	23	argues	argue	VERB
ftr-309	44	24	that	that	SCONJ
ftr-309	44	25	the	the	DET
ftr-309	44	26	irs	irs	PROPN
ftr-309	44	27	could	could	AUX
ftr-309	44	28	challenge	challenge	VERB
ftr-309	44	29	the	the	DET
ftr-309	44	30	tax	tax	NOUN
ftr-309	44	31	treatment	treatment	NOUN
ftr-309	44	32	of	of	ADP
ftr-309	44	33	these	these	DET
ftr-309	44	34	transactions	transaction	NOUN
ftr-309	44	35	under	under	ADP
ftr-309	44	36	current	current	ADJ
ftr-309	44	37	law	law	NOUN
ftr-309	44	38	rather	rather	ADV
ftr-309	44	39	than	than	ADP
ftr-309	44	40	wait	wait	VERB
ftr-309	44	41	for	for	SCONJ
ftr-309	44	42	congress	congress	PROPN
ftr-309	44	43	to	to	PART
ftr-309	44	44	act	act	VERB
ftr-309	44	45	.	.	PUNCT
ftr-309	45	1	this	this	DET
ftr-309	45	2	article	article	NOUN
ftr-309	45	3	will	will	AUX
ftr-309	45	4	discuss	discuss	VERB
ftr-309	45	5	one	one	NUM
ftr-309	45	6	such	such	ADJ
ftr-309	45	7	initial	initial	ADJ
ftr-309	45	8	public	public	ADJ
ftr-309	45	9	offering	offering	NOUN
ftr-309	45	10	,	,	PUNCT
ftr-309	45	11	which	which	PRON
ftr-309	45	12	was	be	AUX
ftr-309	45	13	undertaken	undertake	VERB
ftr-309	45	14	in	in	ADP
ftr-309	45	15	2007	2007	NUM
ftr-309	45	16	by	by	ADP
ftr-309	45	17	blackstone	blackstone	NOUN
ftr-309	45	18	,	,	PUNCT
ftr-309	45	19	and	and	CCONJ
ftr-309	45	20	demonstrate	demonstrate	VERB
ftr-309	45	21	how	how	SCONJ
ftr-309	45	22	the	the	DET
ftr-309	45	23	irs	irs	PROPN
ftr-309	45	24	could	could	AUX
ftr-309	45	25	challenge	challenge	VERB
ftr-309	45	26	blackstone	blackstone	NOUN
ftr-309	45	27	's	's	PART
ftr-309	45	28	claimed	claim	VERB
ftr-309	45	29	tax	tax	NOUN
ftr-309	45	30	consequences	consequence	NOUN
ftr-309	45	31	.	.	PUNCT
ftr-309	46	1	more	more	ADV
ftr-309	46	2	significantly	significantly	ADV
ftr-309	46	3	,	,	PUNCT
ftr-309	46	4	this	this	DET
ftr-309	46	5	article	article	NOUN
ftr-309	46	6	will	will	AUX
ftr-309	46	7	use	use	VERB
ftr-309	46	8	the	the	DET
ftr-309	46	9	blackstone	blackstone	NOUN
ftr-309	46	10	transaction	transaction	NOUN
ftr-309	46	11	and	and	CCONJ
ftr-309	46	12	other	other	ADJ
ftr-309	46	13	initial	initial	ADJ
ftr-309	46	14	public	public	ADJ
ftr-309	46	15	offerings	offering	NOUN
ftr-309	46	16	to	to	PART
ftr-309	46	17	illustrate	illustrate	VERB
ftr-309	46	18	a	a	DET
ftr-309	46	19	broader	broad	ADJ
ftr-309	46	20	tax	tax	NOUN
ftr-309	46	21	problem	problem	NOUN
ftr-309	46	22	and	and	CCONJ
ftr-309	46	23	its	its	PRON
ftr-309	46	24	solution	solution	NOUN
ftr-309	46	25	.	.	PUNCT
ftr-309	47	1	blackstone	blackstone	NOUN
ftr-309	47	2	(	(	PUNCT
ftr-309	47	3	the	the	DET
ftr-309	47	4	"	"	PUNCT
ftr-309	47	5	blackstone	blackstone	NOUN
ftr-309	47	6	firm	firm	NOUN
ftr-309	47	7	"	"	PUNCT
ftr-309	47	8	)	)	PUNCT
ftr-309	47	9	,	,	PUNCT
ftr-309	47	10	a	a	DET
ftr-309	47	11	private	private	ADJ
ftr-309	47	12	equity	equity	NOUN
ftr-309	47	13	firm	firm	NOUN
ftr-309	47	14	like	like	ADP
ftr-309	47	15	bain	bain	PROPN
ftr-309	47	16	capital	capital	PROPN
ftr-309	47	17	,	,	PUNCT
ftr-309	47	18	sponsors	sponsor	VERB
ftr-309	47	19	various	various	ADJ
ftr-309	47	20	private	private	ADJ
ftr-309	47	21	equity	equity	NOUN
ftr-309	47	22	funds	fund	NOUN
ftr-309	47	23	,	,	PUNCT
ftr-309	47	24	real	real	ADJ
ftr-309	47	25	estate	estate	NOUN
ftr-309	47	26	funds	fund	NOUN
ftr-309	47	27	,	,	PUNCT
ftr-309	47	28	and	and	CCONJ
ftr-309	47	29	hedge	hedge	NOUN
ftr-309	47	30	funds	fund	NOUN
ftr-309	47	31	.	.	PUNCT
ftr-309	48	1	when	when	SCONJ
ftr-309	48	2	the	the	DET
ftr-309	48	3	blackstone	blackstone	NOUN
ftr-309	48	4	firm	firm	NOUN
ftr-309	48	5	sponsors	sponsor	VERB
ftr-309	48	6	a	a	DET
ftr-309	48	7	fund	fund	NOUN
ftr-309	48	8	,	,	PUNCT
ftr-309	48	9	outside	outside	ADP
ftr-309	48	10	investors	investor	NOUN
ftr-309	48	11	such	such	ADJ
ftr-309	48	12	as	as	ADP
ftr-309	48	13	pension	pension	NOUN
ftr-309	48	14	plans	plan	NOUN
ftr-309	48	15	,	,	PUNCT
ftr-309	48	16	educational	educational	ADJ
ftr-309	48	17	endowments	endowment	NOUN
ftr-309	48	18	,	,	PUNCT
ftr-309	48	19	financial	financial	ADJ
ftr-309	48	20	institutions	institution	NOUN
ftr-309	48	21	,	,	PUNCT
ftr-309	48	22	and	and	CCONJ
ftr-309	48	23	wealthy	wealthy	ADJ
ftr-309	48	24	individuals	individual	NOUN
ftr-309	48	25	agree	agree	VERB
ftr-309	48	26	to	to	PART
ftr-309	48	27	invest	invest	VERB
ftr-309	48	28	money	money	NOUN
ftr-309	48	29	in	in	ADP
ftr-309	48	30	the	the	DET
ftr-309	48	31	fund	fund	NOUN
ftr-309	48	32	.	.	PUNCT
ftr-309	49	1	the	the	DET
ftr-309	49	2	blackstone	blackstone	NOUN
ftr-309	49	3	firm	firm	NOUN
ftr-309	49	4	selects	select	VERB
ftr-309	49	5	projects	project	NOUN
ftr-309	49	6	and	and	CCONJ
ftr-309	49	7	securities	security	NOUN
ftr-309	49	8	in	in	ADP
ftr-309	49	9	which	which	PRON
ftr-309	49	10	the	the	DET
ftr-309	49	11	fund	fund	NOUN
ftr-309	49	12	will	will	AUX
ftr-309	49	13	invest	invest	VERB
ftr-309	49	14	,	,	PUNCT
ftr-309	49	15	and	and	CCONJ
ftr-309	49	16	,	,	PUNCT
ftr-309	49	17	in	in	ADP
ftr-309	49	18	exchange	exchange	NOUN
ftr-309	49	19	for	for	ADP
ftr-309	49	20	its	its	PRON
ftr-309	49	21	efforts	effort	NOUN
ftr-309	49	22	,	,	PUNCT
ftr-309	49	23	the	the	DET
ftr-309	49	24	blackstone	blackstone	NOUN
ftr-309	49	25	firm	firm	NOUN
ftr-309	49	26	receives	receive	VERB
ftr-309	49	27	a	a	DET
ftr-309	49	28	management	management	NOUN
ftr-309	49	29	fee	fee	NOUN
ftr-309	49	30	plus	plus	CCONJ
ftr-309	49	31	a	a	DET
ftr-309	49	32	percentage	percentage	NOUN
ftr-309	49	33	of	of	ADP
ftr-309	49	34	the	the	DET
ftr-309	49	35	profits	profit	NOUN
ftr-309	49	36	earned	earn	VERB
ftr-309	49	37	by	by	ADP
ftr-309	49	38	the	the	DET
ftr-309	49	39	fund	fund	NOUN
ftr-309	49	40	(	(	PUNCT
ftr-309	49	41	referred	refer	VERB
ftr-309	49	42	to	to	ADP
ftr-309	49	43	as	as	ADP
ftr-309	49	44	"	"	PUNCT
ftr-309	49	45	carried	carry	VERB
ftr-309	49	46	interest	interest	NOUN
ftr-309	49	47	"	"	PUNCT
ftr-309	49	48	)	)	PUNCT
ftr-309	49	49	.	.	PUNCT
ftr-309	50	1	blackstone	blackstone	NOUN
ftr-309	50	2	group	group	PROPN
ftr-309	50	3	lp	lp	PROPN
ftr-309	50	4	trades	trade	VERB
ftr-309	50	5	on	on	ADP
ftr-309	50	6	the	the	DET
ftr-309	50	7	new	new	PROPN
ftr-309	50	8	york	york	PROPN
ftr-309	50	9	stock	stock	PROPN
ftr-309	50	10	exchange	exchange	PROPN
ftr-309	50	11	(	(	PUNCT
ftr-309	50	12	nyse	nyse	PROPN
ftr-309	50	13	)	)	PUNCT
ftr-309	50	14	.	.	PUNCT
ftr-309	50	15	'	'	PUNCT
ftr-309	51	1	blackstone	blackstone	NOUN
ftr-309	51	2	group	group	NOUN
ftr-309	51	3	lp	lp	PROPN
ftr-309	51	4	is	be	AUX
ftr-309	51	5	an	an	DET
ftr-309	51	6	entity	entity	NOUN
ftr-309	51	7	that	that	PRON
ftr-309	51	8	earns	earn	VERB
ftr-309	51	9	a	a	DET
ftr-309	51	10	portion	portion	NOUN
ftr-309	51	11	of	of	ADP
ftr-309	51	12	what	what	PRON
ftr-309	51	13	the	the	DET
ftr-309	51	14	blackstone	blackstone	NOUN
ftr-309	51	15	firm	firm	NOUN
ftr-309	51	16	receives	receive	VERB
ftr-309	51	17	by	by	ADP
ftr-309	51	18	way	way	NOUN
ftr-309	51	19	of	of	ADP
ftr-309	51	20	management	management	NOUN
ftr-309	51	21	fees	fee	NOUN
ftr-309	51	22	and	and	CCONJ
ftr-309	51	23	carried	carry	VERB
ftr-309	51	24	interest	interest	NOUN
ftr-309	51	25	from	from	ADP
ftr-309	51	26	the	the	DET
ftr-309	51	27	various	various	ADJ
ftr-309	51	28	funds	fund	NOUN
ftr-309	51	29	that	that	PRON
ftr-309	51	30	it	it	PRON
ftr-309	51	31	sponsors	sponsor	VERB
ftr-309	51	32	.	.	PUNCT
ftr-309	52	1	thus	thus	ADV
ftr-309	52	2	,	,	PUNCT
ftr-309	52	3	anyone	anyone	PRON
ftr-309	52	4	who	who	PRON
ftr-309	52	5	buys	buy	VERB
ftr-309	52	6	an	an	DET
ftr-309	52	7	interest	interest	NOUN
ftr-309	52	8	on	on	ADP
ftr-309	52	9	the	the	DET
ftr-309	52	10	nyse	nyse	PROPN
ftr-309	52	11	in	in	ADP
ftr-309	52	12	blackstone	blackstone	PROPN
ftr-309	52	13	group	group	PROPN
ftr-309	52	14	lp	lp	PROPN
ftr-309	52	15	is	be	AUX
ftr-309	52	16	entitled	entitle	VERB
ftr-309	52	17	to	to	PART
ftr-309	52	18	share	share	VERB
ftr-309	52	19	in	in	ADP
ftr-309	52	20	what	what	PRON
ftr-309	52	21	the	the	DET
ftr-309	52	22	blackstone	blackstone	NOUN
ftr-309	52	23	firm	firm	NOUN
ftr-309	52	24	receives	receive	VERB
ftr-309	52	25	as	as	ADP
ftr-309	52	26	a	a	DET
ftr-309	52	27	fund	fund	NOUN
ftr-309	52	28	sponsor	sponsor	NOUN
ftr-309	52	29	.	.	PUNCT
ftr-309	53	1	blackstone	blackstone	NOUN
ftr-309	53	2	group	group	PROPN
ftr-309	53	3	lp	lp	PROPN
ftr-309	53	4	is	be	AUX
ftr-309	53	5	publicly	publicly	ADV
ftr-309	53	6	traded	trade	VERB
ftr-309	53	7	,	,	PUNCT
ftr-309	53	8	yet	yet	CCONJ
ftr-309	53	9	unlike	unlike	ADP
ftr-309	53	10	many	many	ADJ
ftr-309	53	11	publicly	publicly	ADV
ftr-309	53	12	traded	trade	VERB
ftr-309	53	13	companies	company	NOUN
ftr-309	53	14	,	,	PUNCT
ftr-309	53	15	it	it	PRON
ftr-309	53	16	manages	manage	VERB
ftr-309	53	17	to	to	PART
ftr-309	53	18	avoid	avoid	VERB
ftr-309	53	19	being	be	AUX
ftr-309	53	20	treated	treat	VERB
ftr-309	53	21	as	as	ADP
ftr-309	53	22	a	a	DET
ftr-309	53	23	corporation	corporation	NOUN
ftr-309	53	24	for	for	ADP
ftr-309	53	25	tax	tax	NOUN
ftr-309	53	26	purposes	purpose	NOUN
ftr-309	53	27	.	.	PUNCT
ftr-309	54	1	consequently	consequently	ADV
ftr-309	54	2	,	,	PUNCT
ftr-309	54	3	blackstone	blackstone	NOUN
ftr-309	54	4	group	group	PROPN
ftr-309	54	5	lp	lp	PROPN
ftr-309	54	6	is	be	AUX
ftr-309	54	7	not	not	PART
ftr-309	54	8	required	require	VERB
ftr-309	54	9	to	to	PART
ftr-309	54	10	pay	pay	VERB
ftr-309	54	11	corporate	corporate	ADJ
ftr-309	54	12	-	-	PUNCT
ftr-309	54	13	level	level	NOUN
ftr-309	54	14	tax	tax	NOUN
ftr-309	54	15	on	on	ADP
ftr-309	54	16	any	any	PRON
ftr-309	54	17	of	of	ADP
ftr-309	54	18	its	its	PRON
ftr-309	54	19	income	income	NOUN
ftr-309	54	20	,	,	PUNCT
ftr-309	54	21	avoiding	avoid	VERB
ftr-309	54	22	millions	million	NOUN
ftr-309	54	23	of	of	ADP
ftr-309	54	24	dollars	dollar	NOUN
ftr-309	54	25	in	in	ADP
ftr-309	54	26	tax	tax	NOUN
ftr-309	54	27	1	1	NUM
ftr-309	54	28	.	.	PUNCT
ftr-309	55	1	the	the	DET
ftr-309	55	2	blackstone	blackstone	NOUN
ftr-309	55	3	group	group	NOUN
ftr-309	55	4	l.p	l.p	PROPN
ftr-309	55	5	.	.	PROPN
ftr-309	55	6	,	,	PUNCT
ftr-309	55	7	registration	registration	NOUN
ftr-309	55	8	statement	statement	NOUN
ftr-309	55	9	(	(	PUNCT
ftr-309	55	10	form	form	NOUN
ftr-309	55	11	s-1	s-1	NOUN
ftr-309	55	12	)	)	PUNCT
ftr-309	55	13	(	(	PUNCT
ftr-309	55	14	mar	mar	PROPN
ftr-309	55	15	.	.	PROPN
ftr-309	55	16	22	22	NUM
ftr-309	55	17	,	,	PUNCT
ftr-309	55	18	2007	2007	NUM
ftr-309	55	19	)	)	PUNCT
ftr-309	55	20	,	,	PUNCT
ftr-309	55	21	http://www.sec.gov/archives/edgar/data/1393818/000104746907002068/a21	http://www.sec.gov/archives/edgar/data/1393818/000104746907002068/a21	NOUN
ftr-309	55	22	76832zs-1.htm	76832zs-1.htm	PUNCT
ftr-309	56	1	[	[	X
ftr-309	56	2	hereinafter	hereinafter	NOUN
ftr-309	56	3	blackstone	blackstone	NOUN
ftr-309	56	4	s-1	s-1	PROPN
ftr-309	56	5	]	]	PUNCT
ftr-309	56	6	.	.	PUNCT
ftr-309	57	1	for	for	ADP
ftr-309	57	2	further	further	ADJ
ftr-309	57	3	discussion	discussion	NOUN
ftr-309	57	4	of	of	ADP
ftr-309	57	5	the	the	DET
ftr-309	57	6	tax	tax	NOUN
ftr-309	57	7	structuring	structuring	NOUN
ftr-309	57	8	used	use	VERB
ftr-309	57	9	by	by	ADP
ftr-309	57	10	blackstone	blackstone	PROPN
ftr-309	57	11	group	group	PROPN
ftr-309	57	12	lp	lp	PROPN
ftr-309	57	13	,	,	PUNCT
ftr-309	57	14	see	see	VERB
ftr-309	57	15	victor	victor	PROPN
ftr-309	57	16	fleischer	fleischer	PROPN
ftr-309	57	17	,	,	PUNCT
ftr-309	57	18	taxing	tax	VERB
ftr-309	57	19	blackstone	blackstone	NOUN
ftr-309	57	20	,	,	PUNCT
ftr-309	57	21	61	61	NUM
ftr-309	57	22	tax	tax	NOUN
ftr-309	57	23	l.	l.	PROPN
ftr-309	57	24	rev	rev	PROPN
ftr-309	57	25	.	.	PROPN
ftr-309	57	26	89	89	NUM
ftr-309	57	27	(	(	PUNCT
ftr-309	57	28	2008	2008	NUM
ftr-309	57	29	)	)	PUNCT
ftr-309	58	1	[	[	X
ftr-309	58	2	hereinafter	hereinafter	NOUN
ftr-309	58	3	fleischer	fleischer	NOUN
ftr-309	58	4	,	,	PUNCT
ftr-309	58	5	taxing	tax	VERB
ftr-309	58	6	blackstone	blackstone	NOUN
ftr-309	58	7	]	]	PUNCT
ftr-309	58	8	.	.	PUNCT
ftr-309	59	1	155	155	NUM
ftr-309	59	2	florida	florida	PROPN
ftr-309	59	3	tax	tax	NOUN
ftr-309	59	4	review	review	NOUN
ftr-309	59	5	liability	liability	NOUN
ftr-309	59	6	annually	annually	ADV
ftr-309	59	7	.	.	PUNCT
ftr-309	60	1	2	2	NUM
ftr-309	60	2	complex	complex	ADJ
ftr-309	60	3	tax	tax	NOUN
ftr-309	60	4	structuring	structuring	NOUN
ftr-309	60	5	enables	enable	VERB
ftr-309	60	6	blackstone	blackstone	NOUN
ftr-309	60	7	group	group	NOUN
ftr-309	60	8	lp	lp	PROPN
ftr-309	60	9	to	to	PART
ftr-309	60	10	benefit	benefit	VERB
ftr-309	60	11	from	from	ADP
ftr-309	60	12	this	this	DET
ftr-309	60	13	atypical	atypical	ADJ
ftr-309	60	14	tax	tax	NOUN
ftr-309	60	15	treatment	treatment	NOUN
ftr-309	60	16	.	.	PUNCT
ftr-309	61	1	in	in	ADP
ftr-309	61	2	particular	particular	ADJ
ftr-309	61	3	,	,	PUNCT
ftr-309	61	4	although	although	SCONJ
ftr-309	61	5	entities	entity	NOUN
ftr-309	61	6	that	that	PRON
ftr-309	61	7	are	be	AUX
ftr-309	61	8	publicly	publicly	ADV
ftr-309	61	9	traded	trade	VERB
ftr-309	61	10	typically	typically	ADV
ftr-309	61	11	must	must	AUX
ftr-309	61	12	be	be	AUX
ftr-309	61	13	treated	treat	VERB
ftr-309	61	14	as	as	ADP
ftr-309	61	15	corporations	corporation	NOUN
ftr-309	61	16	for	for	ADP
ftr-309	61	17	tax	tax	NOUN
ftr-309	61	18	purposes	purpose	NOUN
ftr-309	61	19	,	,	PUNCT
ftr-309	61	20	a	a	DET
ftr-309	61	21	publicly	publicly	ADV
ftr-309	61	22	traded	trade	VERB
ftr-309	61	23	partnership	partnership	NOUN
ftr-309	61	24	is	be	AUX
ftr-309	61	25	eligible	eligible	ADJ
ftr-309	61	26	for	for	ADP
ftr-309	61	27	partnership	partnership	NOUN
ftr-309	61	28	tax	tax	NOUN
ftr-309	61	29	treatment	treatment	NOUN
ftr-309	61	30	in	in	ADP
ftr-309	61	31	a	a	DET
ftr-309	61	32	given	give	VERB
ftr-309	61	33	year	year	NOUN
ftr-309	61	34	if	if	SCONJ
ftr-309	61	35	at	at	ADV
ftr-309	61	36	least	least	ADV
ftr-309	61	37	90	90	NUM
ftr-309	61	38	percent	percent	NOUN
ftr-309	61	39	of	of	ADP
ftr-309	61	40	the	the	DET
ftr-309	61	41	partnership	partnership	NOUN
ftr-309	61	42	's	's	PART
ftr-309	61	43	gross	gross	ADJ
ftr-309	61	44	income	income	NOUN
ftr-309	61	45	consists	consist	VERB
ftr-309	61	46	of	of	ADP
ftr-309	61	47	certain	certain	ADJ
ftr-309	61	48	types	type	NOUN
ftr-309	61	49	of	of	ADP
ftr-309	61	50	"	"	PUNCT
ftr-309	61	51	qualifying	qualify	VERB
ftr-309	61	52	income	income	NOUN
ftr-309	61	53	"	"	PUNCT
ftr-309	61	54	in	in	ADP
ftr-309	61	55	that	that	DET
ftr-309	61	56	year	year	NOUN
ftr-309	61	57	and	and	CCONJ
ftr-309	61	58	all	all	DET
ftr-309	61	59	previous	previous	ADJ
ftr-309	61	60	years	year	NOUN
ftr-309	61	61	during	during	ADP
ftr-309	61	62	which	which	PRON
ftr-309	61	63	the	the	DET
ftr-309	61	64	partnership	partnership	NOUN
ftr-309	61	65	was	be	AUX
ftr-309	61	66	publicly	publicly	ADV
ftr-309	61	67	traded	trade	VERB
ftr-309	61	68	.	.	PUNCT
ftr-309	62	1	without	without	ADP
ftr-309	62	2	complex	complex	ADJ
ftr-309	62	3	structuring	structuring	NOUN
ftr-309	62	4	,	,	PUNCT
ftr-309	62	5	blackstone	blackstone	NOUN
ftr-309	62	6	group	group	NOUN
ftr-309	62	7	lp	lp	PROPN
ftr-309	62	8	would	would	AUX
ftr-309	62	9	earn	earn	VERB
ftr-309	62	10	some	some	DET
ftr-309	62	11	qualifying	qualify	VERB
ftr-309	62	12	income	income	NOUN
ftr-309	62	13	and	and	CCONJ
ftr-309	62	14	some	some	DET
ftr-309	62	15	non	non	ADJ
ftr-309	62	16	-	-	ADJ
ftr-309	62	17	qualifying	qualifying	ADJ
ftr-309	62	18	income	income	NOUN
ftr-309	62	19	and	and	CCONJ
ftr-309	62	20	could	could	AUX
ftr-309	62	21	very	very	ADV
ftr-309	62	22	easily	easily	ADV
ftr-309	62	23	fail	fail	VERB
ftr-309	62	24	to	to	PART
ftr-309	62	25	meet	meet	VERB
ftr-309	62	26	this	this	DET
ftr-309	62	27	90	90	NUM
ftr-309	62	28	percent	percent	NOUN
ftr-309	62	29	gross	gross	ADJ
ftr-309	62	30	income	income	NOUN
ftr-309	62	31	test.4	test.4	NOUN
ftr-309	62	32	to	to	PART
ftr-309	62	33	avoid	avoid	VERB
ftr-309	62	34	this	this	DET
ftr-309	62	35	result	result	NOUN
ftr-309	62	36	,	,	PUNCT
ftr-309	62	37	blackstone	blackstone	NOUN
ftr-309	62	38	group	group	PROPN
ftr-309	62	39	lp	lp	PROPN
ftr-309	62	40	uses	use	VERB
ftr-309	62	41	the	the	DET
ftr-309	62	42	structure	structure	NOUN
ftr-309	62	43	shown	show	VERB
ftr-309	62	44	in	in	ADP
ftr-309	62	45	figure	figure	NOUN
ftr-309	62	46	1	1	NUM
ftr-309	62	47	below	below	ADP
ftr-309	62	48	to	to	PART
ftr-309	62	49	ensure	ensure	VERB
ftr-309	62	50	that	that	SCONJ
ftr-309	62	51	it	it	PRON
ftr-309	62	52	always	always	ADV
ftr-309	62	53	meets	meet	VERB
ftr-309	62	54	the	the	DET
ftr-309	62	55	90	90	NUM
ftr-309	62	56	percent	percent	NOUN
ftr-309	62	57	gross	gross	ADJ
ftr-309	62	58	income	income	NOUN
ftr-309	62	59	test.5	test.5	PROPN
ftr-309	62	60	in	in	ADP
ftr-309	62	61	this	this	DET
ftr-309	62	62	structure	structure	NOUN
ftr-309	62	63	,	,	PUNCT
ftr-309	62	64	the	the	DET
ftr-309	62	65	underlying	underlie	VERB
ftr-309	62	66	partnership	partnership	NOUN
ftr-309	62	67	,	,	PUNCT
ftr-309	62	68	an	an	DET
ftr-309	62	69	entity	entity	NOUN
ftr-309	62	70	treated	treat	VERB
ftr-309	62	71	as	as	ADP
ftr-309	62	72	a	a	DET
ftr-309	62	73	partnership	partnership	NOUN
ftr-309	62	74	for	for	ADP
ftr-309	62	75	tax	tax	NOUN
ftr-309	62	76	purposes	purpose	NOUN
ftr-309	62	77	,	,	PUNCT
ftr-309	62	78	allocates	allocates	AUX
ftr-309	62	79	all	all	PRON
ftr-309	62	80	qualifying	qualify	VERB
ftr-309	62	81	income	income	NOUN
ftr-309	62	82	directly	directly	ADV
ftr-309	62	83	to	to	ADP
ftr-309	62	84	blackstone	blackstone	PROPN
ftr-309	62	85	group	group	PROPN
ftr-309	62	86	lp	lp	PROPN
ftr-309	62	87	and	and	CCONJ
ftr-309	62	88	allocates	allocate	VERB
ftr-309	62	89	all	all	DET
ftr-309	62	90	non	non	ADJ
ftr-309	62	91	-	-	ADJ
ftr-309	62	92	qualifying	qualifying	ADJ
ftr-309	62	93	income	income	NOUN
ftr-309	62	94	to	to	ADP
ftr-309	62	95	subsidiaries	subsidiary	NOUN
ftr-309	62	96	of	of	ADP
ftr-309	62	97	blackstone	blackstone	NOUN
ftr-309	62	98	group	group	NOUN
ftr-309	62	99	lp	lp	PROPN
ftr-309	62	100	that	that	PRON
ftr-309	62	101	are	be	AUX
ftr-309	62	102	treated	treat	VERB
ftr-309	62	103	as	as	ADP
ftr-309	62	104	corporations	corporation	NOUN
ftr-309	62	105	for	for	ADP
ftr-309	62	106	tax	tax	NOUN
ftr-309	62	107	purposes	purpose	NOUN
ftr-309	62	108	.	.	PUNCT
ftr-309	63	1	allocating	allocate	VERB
ftr-309	63	2	qualifying	qualify	VERB
ftr-309	63	3	income	income	NOUN
ftr-309	63	4	directly	directly	ADV
ftr-309	63	5	to	to	ADP
ftr-309	63	6	blackstone	blackstone	PROPN
ftr-309	63	7	group	group	PROPN
ftr-309	63	8	lp	lp	PROPN
ftr-309	63	9	ensures	ensure	VERB
ftr-309	63	10	that	that	SCONJ
ftr-309	63	11	such	such	ADJ
ftr-309	63	12	income	income	NOUN
ftr-309	63	13	retains	retain	VERB
ftr-309	63	14	its	its	PRON
ftr-309	63	15	qualifying	qualifying	NOUN
ftr-309	63	16	nature	nature	NOUN
ftr-309	63	17	,	,	PUNCT
ftr-309	63	18	and	and	CCONJ
ftr-309	63	19	allocating	allocate	VERB
ftr-309	63	20	all	all	DET
ftr-309	63	21	non	non	ADJ
ftr-309	63	22	-	-	ADJ
ftr-309	63	23	qualifying	qualifying	ADJ
ftr-309	63	24	income	income	NOUN
ftr-309	63	25	to	to	ADP
ftr-309	63	26	corporate	corporate	ADJ
ftr-309	63	27	subsidiaries	subsidiary	NOUN
ftr-309	63	28	transforms	transform	VERB
ftr-309	63	29	such	such	ADJ
ftr-309	63	30	income	income	NOUN
ftr-309	63	31	into	into	ADP
ftr-309	63	32	qualifying	qualify	VERB
ftr-309	63	33	income	income	NOUN
ftr-309	63	34	before	before	SCONJ
ftr-309	63	35	it	it	PRON
ftr-309	63	36	reaches	reach	VERB
ftr-309	63	37	blackstone	blackstone	PROPN
ftr-309	63	38	group	group	PROPN
ftr-309	63	39	lp	lp	PROPN
ftr-309	63	40	.	.	PUNCT
ftr-309	64	1	as	as	ADP
ftr-309	64	2	a	a	DET
ftr-309	64	3	result	result	NOUN
ftr-309	64	4	,	,	PUNCT
ftr-309	64	5	blackstone	blackstone	NOUN
ftr-309	64	6	group	group	NOUN
ftr-309	64	7	lp	lp	PROPN
ftr-309	64	8	earns	earn	VERB
ftr-309	64	9	100	100	NUM
ftr-309	64	10	percent	percent	NOUN
ftr-309	64	11	qualifying	qualify	VERB
ftr-309	64	12	income	income	NOUN
ftr-309	64	13	and	and	CCONJ
ftr-309	64	14	avoids	avoid	VERB
ftr-309	64	15	being	be	AUX
ftr-309	64	16	treated	treat	VERB
ftr-309	64	17	as	as	ADP
ftr-309	64	18	a	a	DET
ftr-309	64	19	corporation	corporation	NOUN
ftr-309	64	20	for	for	ADP
ftr-309	64	21	tax	tax	NOUN
ftr-309	64	22	purposes	purpose	NOUN
ftr-309	64	23	.	.	PUNCT
ftr-309	65	1	blackstone	blackstone	NOUN
ftr-309	65	2	group	group	PROPN
ftr-309	65	3	lp	lp	PROPN
ftr-309	65	4	is	be	AUX
ftr-309	65	5	not	not	PART
ftr-309	65	6	the	the	DET
ftr-309	65	7	only	only	ADJ
ftr-309	65	8	entity	entity	NOUN
ftr-309	65	9	that	that	PRON
ftr-309	65	10	has	have	AUX
ftr-309	65	11	benefited	benefit	VERB
ftr-309	65	12	from	from	ADP
ftr-309	65	13	this	this	DET
ftr-309	65	14	structure	structure	NOUN
ftr-309	65	15	.	.	PUNCT
ftr-309	66	1	other	other	ADJ
ftr-309	66	2	private	private	ADJ
ftr-309	66	3	equity	equity	NOUN
ftr-309	66	4	groups	group	NOUN
ftr-309	66	5	,	,	PUNCT
ftr-309	66	6	including	include	VERB
ftr-309	66	7	fortress	fortress	NOUN
ftr-309	66	8	,	,	PUNCT
ftr-309	66	9	kkr	kkr	PROPN
ftr-309	66	10	,	,	PUNCT
ftr-309	66	11	and	and	CCONJ
ftr-309	66	12	carlyle	carlyle	PROPN
ftr-309	66	13	,	,	PUNCT
ftr-309	66	14	are	be	AUX
ftr-309	66	15	publicly	publicly	ADV
ftr-309	66	16	traded	trade	VERB
ftr-309	66	17	and	and	CCONJ
ftr-309	66	18	use	use	VERB
ftr-309	66	19	a	a	DET
ftr-309	66	20	similar	similar	ADJ
ftr-309	66	21	approach	approach	NOUN
ftr-309	66	22	.	.	PUNCT
ftr-309	67	1	these	these	DET
ftr-309	67	2	publicly	publicly	ADV
ftr-309	67	3	traded	trade	VERB
ftr-309	67	4	entities	entity	NOUN
ftr-309	67	5	avoid	avoid	VERB
ftr-309	67	6	enormous	enormous	ADJ
ftr-309	67	7	amounts	amount	NOUN
ftr-309	67	8	of	of	ADP
ftr-309	67	9	tax	tax	NOUN
ftr-309	67	10	liability	liability	NOUN
ftr-309	67	11	by	by	ADP
ftr-309	67	12	using	use	VERB
ftr-309	67	13	such	such	ADJ
ftr-309	67	14	structuring	structuring	NOUN
ftr-309	67	15	.	.	PUNCT
ftr-309	68	1	for	for	ADP
ftr-309	68	2	instance	instance	NOUN
ftr-309	68	3	,	,	PUNCT
ftr-309	68	4	by	by	ADP
ftr-309	68	5	one	one	NUM
ftr-309	68	6	estimate	estimate	NOUN
ftr-309	68	7	,	,	PUNCT
ftr-309	68	8	blackstone	blackstone	NOUN
ftr-309	68	9	group	group	PROPN
ftr-309	68	10	lp	lp	PROPN
ftr-309	68	11	and	and	CCONJ
ftr-309	68	12	its	its	PRON
ftr-309	68	13	owners	owner	NOUN
ftr-309	68	14	save	save	VERB
ftr-309	68	15	$	$	SYM
ftr-309	68	16	150	150	NUM
ftr-309	68	17	million	million	NUM
ftr-309	68	18	in	in	ADP
ftr-309	68	19	taxes	taxis	NOUN
ftr-309	68	20	annually.6	annually.6	PROPN
ftr-309	68	21	likewise	likewise	ADV
ftr-309	68	22	,	,	PUNCT
ftr-309	68	23	kkr	kkr	PROPN
ftr-309	68	24	and	and	CCONJ
ftr-309	68	25	its	its	PRON
ftr-309	68	26	owners	owner	NOUN
ftr-309	68	27	save	save	VERB
ftr-309	68	28	an	an	DET
ftr-309	68	29	2	2	NUM
ftr-309	68	30	.	.	PUNCT
ftr-309	69	1	see	see	VERB
ftr-309	69	2	infra	infra	NOUN
ftr-309	69	3	note	note	VERB
ftr-309	69	4	6	6	NUM
ftr-309	69	5	and	and	CCONJ
ftr-309	69	6	accompanying	accompany	VERB
ftr-309	69	7	text	text	NOUN
ftr-309	69	8	.	.	PUNCT
ftr-309	70	1	3	3	X
ftr-309	70	2	.	.	X
ftr-309	70	3	i.r.c	i.r.c	NOUN
ftr-309	70	4	.	.	PUNCT
ftr-309	71	1	§	§	PROPN
ftr-309	71	2	7704(a	7704(a	PROPN
ftr-309	71	3	)	)	PUNCT
ftr-309	72	1	(	(	PUNCT
ftr-309	72	2	stating	state	VERB
ftr-309	72	3	general	general	ADJ
ftr-309	72	4	rule	rule	NOUN
ftr-309	72	5	that	that	PRON
ftr-309	72	6	publicly	publicly	ADV
ftr-309	72	7	traded	trade	VERB
ftr-309	72	8	entities	entity	NOUN
ftr-309	72	9	must	must	AUX
ftr-309	72	10	be	be	AUX
ftr-309	72	11	treated	treat	VERB
ftr-309	72	12	as	as	ADP
ftr-309	72	13	corporations	corporation	NOUN
ftr-309	72	14	)	)	PUNCT
ftr-309	72	15	;	;	PUNCT
ftr-309	72	16	i.r.c	i.r.c	NOUN
ftr-309	72	17	.	.	PUNCT
ftr-309	73	1	§	§	PROPN
ftr-309	73	2	7704(c	7704(c	X
ftr-309	73	3	)	)	PUNCT
ftr-309	73	4	(	(	PUNCT
ftr-309	73	5	providing	provide	VERB
ftr-309	73	6	exception	exception	NOUN
ftr-309	73	7	)	)	PUNCT
ftr-309	73	8	.	.	PUNCT
ftr-309	74	1	4	4	X
ftr-309	74	2	.	.	X
ftr-309	74	3	see	see	VERB
ftr-309	74	4	infra	infra	NOUN
ftr-309	74	5	note	note	VERB
ftr-309	74	6	26	26	NUM
ftr-309	74	7	and	and	CCONJ
ftr-309	74	8	accompanying	accompany	VERB
ftr-309	74	9	text	text	NOUN
ftr-309	74	10	.	.	PUNCT
ftr-309	75	1	5	5	X
ftr-309	75	2	.	.	X
ftr-309	75	3	see	see	VERB
ftr-309	75	4	infra	infra	NOUN
ftr-309	75	5	part	part	PROPN
ftr-309	75	6	ii	ii	PROPN
ftr-309	75	7	.	.	PROPN
ftr-309	76	1	6	6	NUM
ftr-309	76	2	.	.	X
ftr-309	77	1	fleischer	fleischer	PROPN
ftr-309	77	2	,	,	PUNCT
ftr-309	77	3	taxing	tax	VERB
ftr-309	77	4	blackstone	blackstone	NOUN
ftr-309	77	5	,	,	PUNCT
ftr-309	77	6	supra	supra	PROPN
ftr-309	77	7	note	note	PROPN
ftr-309	77	8	1	1	NUM
ftr-309	77	9	,	,	PUNCT
ftr-309	77	10	at	at	ADP
ftr-309	77	11	96	96	NUM
ftr-309	77	12	-	-	SYM
ftr-309	77	13	97	97	NUM
ftr-309	77	14	.	.	PUNCT
ftr-309	78	1	these	these	DET
ftr-309	78	2	estimates	estimate	NOUN
ftr-309	78	3	compare	compare	VERB
ftr-309	78	4	the	the	DET
ftr-309	78	5	tax	tax	NOUN
ftr-309	78	6	liability	liability	NOUN
ftr-309	78	7	resulting	result	VERB
ftr-309	78	8	from	from	ADP
ftr-309	78	9	the	the	DET
ftr-309	78	10	actual	actual	ADJ
ftr-309	78	11	structure	structure	NOUN
ftr-309	78	12	to	to	ADP
ftr-309	78	13	the	the	DET
ftr-309	78	14	tax	tax	NOUN
ftr-309	78	15	liability	liability	NOUN
ftr-309	78	16	that	that	PRON
ftr-309	78	17	blackstone	blackstone	NOUN
ftr-309	78	18	group	group	NOUN
ftr-309	78	19	and	and	CCONJ
ftr-309	78	20	its	its	PRON
ftr-309	78	21	owners	owner	NOUN
ftr-309	78	22	would	would	AUX
ftr-309	78	23	incur	incur	VERB
ftr-309	78	24	if	if	SCONJ
ftr-309	78	25	blackstone	blackstone	NOUN
ftr-309	78	26	group	group	NOUN
ftr-309	78	27	lp	lp	PROPN
ftr-309	78	28	earned	earn	VERB
ftr-309	78	29	all	all	DET
ftr-309	78	30	income	income	NOUN
ftr-309	78	31	directly	directly	ADV
ftr-309	78	32	.	.	PUNCT
ftr-309	79	1	if	if	SCONJ
ftr-309	79	2	blackstone	blackstone	PROPN
ftr-309	79	3	group	group	PROPN
ftr-309	79	4	lp	lp	PROPN
ftr-309	79	5	's	's	PART
ftr-309	79	6	structure	structure	NOUN
ftr-309	79	7	were	be	AUX
ftr-309	79	8	challenged	challenge	VERB
ftr-309	79	9	,	,	PUNCT
ftr-309	79	10	it	it	PRON
ftr-309	79	11	is	be	AUX
ftr-309	79	12	possible	possible	ADJ
ftr-309	79	13	that	that	SCONJ
ftr-309	79	14	private	private	ADJ
ftr-309	79	15	equity	equity	NOUN
ftr-309	79	16	firms	firm	NOUN
ftr-309	79	17	engaging	engage	VERB
ftr-309	79	18	in	in	ADP
ftr-309	79	19	initial	initial	ADJ
ftr-309	79	20	public	public	ADJ
ftr-309	79	21	offerings	offering	NOUN
ftr-309	79	22	(	(	PUNCT
ftr-309	79	23	ipos	ipos	NOUN
ftr-309	79	24	)	)	PUNCT
ftr-309	79	25	would	would	AUX
ftr-309	79	26	change	change	VERB
ftr-309	79	27	the	the	DET
ftr-309	79	28	terms	term	NOUN
ftr-309	79	29	of	of	ADP
ftr-309	79	30	the	the	DET
ftr-309	79	31	ipos	ipos	NOUN
ftr-309	79	32	so	so	SCONJ
ftr-309	79	33	that	that	SCONJ
ftr-309	79	34	the	the	DET
ftr-309	79	35	publicly	publicly	ADV
ftr-309	79	36	traded	trade	VERB
ftr-309	79	37	entities	entity	NOUN
ftr-309	79	38	were	be	AUX
ftr-309	79	39	entitled	entitle	VERB
ftr-309	79	40	to	to	PART
ftr-309	79	41	earn	earn	VERB
ftr-309	79	42	only	only	ADV
ftr-309	79	43	qualifying	qualify	VERB
ftr-309	79	44	carried	carry	VERB
ftr-309	79	45	interest	interest	NOUN
ftr-309	79	46	income	income	NOUN
ftr-309	79	47	and	and	CCONJ
ftr-309	79	48	no	no	DET
ftr-309	79	49	management	management	NOUN
ftr-309	79	50	fees	fee	NOUN
ftr-309	79	51	.	.	PUNCT
ftr-309	80	1	as	as	ADP
ftr-309	80	2	a	a	DET
ftr-309	80	3	result	result	NOUN
ftr-309	80	4	,	,	PUNCT
ftr-309	80	5	the	the	DET
ftr-309	80	6	treasury	treasury	NOUN
ftr-309	80	7	might	might	AUX
ftr-309	80	8	collect	collect	VERB
ftr-309	80	9	little	little	ADJ
ftr-309	80	10	additional	additional	ADJ
ftr-309	80	11	tax	tax	NOUN
ftr-309	80	12	revenue	revenue	NOUN
ftr-309	80	13	because	because	SCONJ
ftr-309	80	14	the	the	DET
ftr-309	80	15	publicly	publicly	ADV
ftr-309	80	16	traded	trade	VERB
ftr-309	80	17	entities	entity	NOUN
ftr-309	80	18	would	would	AUX
ftr-309	80	19	still	still	ADV
ftr-309	80	20	be	be	AUX
ftr-309	80	21	treated	treat	VERB
ftr-309	80	22	as	as	ADP
ftr-309	80	23	partnerships	partnership	NOUN
ftr-309	80	24	for	for	ADP
ftr-309	80	25	tax	tax	NOUN
ftr-309	80	26	purposes	purpose	NOUN
ftr-309	80	27	.	.	PUNCT
ftr-309	81	1	however	however	ADV
ftr-309	81	2	,	,	PUNCT
ftr-309	81	3	private	private	ADJ
ftr-309	81	4	equity	equity	NOUN
ftr-309	81	5	firms	firm	NOUN
ftr-309	81	6	could	could	AUX
ftr-309	81	7	not	not	PART
ftr-309	81	8	make	make	VERB
ftr-309	81	9	this	this	DET
ftr-309	81	10	adjustment	adjustment	NOUN
ftr-309	81	11	without	without	ADP
ftr-309	81	12	significantly	significantly	ADV
ftr-309	81	13	changing	change	VERB
ftr-309	81	14	the	the	DET
ftr-309	81	15	underlying	underlie	VERB
ftr-309	81	16	economic	economic	ADJ
ftr-309	81	17	156	156	NUM
ftr-309	81	18	[	[	X
ftr-309	81	19	vol	vol	NOUN
ftr-309	81	20	.	.	PUNCT
ftr-309	82	1	14:5	14:5	NUM
ftr-309	82	2	2013	2013	NUM
ftr-309	82	3	]	]	PUNCT
ftr-309	82	4	was	be	AUX
ftr-309	82	5	blackstone	blackstone	NOUN
ftr-309	82	6	's	's	PART
ftr-309	82	7	initial	initial	ADJ
ftr-309	82	8	public	public	ADJ
ftr-309	82	9	offering	offering	NOUN
ftr-309	82	10	too	too	ADV
ftr-309	82	11	good	good	ADJ
ftr-309	82	12	to	to	PART
ftr-309	82	13	be	be	AUX
ftr-309	82	14	true	true	ADJ
ftr-309	82	15	?	?	PUNCT
ftr-309	83	1	estimated	estimate	VERB
ftr-309	83	2	$	$	SYM
ftr-309	83	3	277	277	NUM
ftr-309	83	4	million	million	NUM
ftr-309	83	5	in	in	ADP
ftr-309	83	6	taxes	taxis	NOUN
ftr-309	83	7	annually.7	annually.7	VERB
ftr-309	83	8	furthermore	furthermore	ADV
ftr-309	83	9	,	,	PUNCT
ftr-309	83	10	this	this	DET
ftr-309	83	11	structure	structure	NOUN
ftr-309	83	12	has	have	AUX
ftr-309	83	13	not	not	PART
ftr-309	83	14	been	be	AUX
ftr-309	83	15	used	use	VERB
ftr-309	83	16	exclusively	exclusively	ADV
ftr-309	83	17	by	by	ADP
ftr-309	83	18	private	private	ADJ
ftr-309	83	19	equity	equity	NOUN
ftr-309	83	20	groups	group	NOUN
ftr-309	83	21	.	.	PUNCT
ftr-309	84	1	a	a	DET
ftr-309	84	2	recent	recent	ADJ
ftr-309	84	3	article	article	NOUN
ftr-309	84	4	in	in	ADP
ftr-309	84	5	the	the	DET
ftr-309	84	6	wall	wall	PROPN
ftr-309	84	7	street	street	PROPN
ftr-309	84	8	journal	journal	PROPN
ftr-309	84	9	featured	feature	VERB
ftr-309	84	10	a	a	DET
ftr-309	84	11	publicly	publicly	ADV
ftr-309	84	12	traded	trade	VERB
ftr-309	84	13	firm	firm	NOUN
ftr-309	84	14	that	that	PRON
ftr-309	84	15	specializes	specialize	VERB
ftr-309	84	16	in	in	ADP
ftr-309	84	17	running	run	VERB
ftr-309	84	18	cemeteries	cemetery	NOUN
ftr-309	84	19	and	and	CCONJ
ftr-309	84	20	benefits	benefit	NOUN
ftr-309	84	21	from	from	ADP
ftr-309	84	22	a	a	DET
ftr-309	84	23	similar	similar	ADJ
ftr-309	84	24	technique	technique	NOUN
ftr-309	84	25	.	.	PUNCT
ftr-309	85	1	members	member	NOUN
ftr-309	85	2	of	of	ADP
ftr-309	85	3	congress	congress	PROPN
ftr-309	85	4	proposed	propose	VERB
ftr-309	85	5	reforms	reform	NOUN
ftr-309	85	6	that	that	PRON
ftr-309	85	7	would	would	AUX
ftr-309	85	8	have	have	AUX
ftr-309	85	9	put	put	VERB
ftr-309	85	10	an	an	DET
ftr-309	85	11	end	end	NOUN
ftr-309	85	12	to	to	ADP
ftr-309	85	13	the	the	DET
ftr-309	85	14	tax	tax	NOUN
ftr-309	85	15	advantages	advantage	NOUN
ftr-309	85	16	claimed	claim	VERB
ftr-309	85	17	by	by	ADP
ftr-309	85	18	blackstone	blackstone	NOUN
ftr-309	85	19	group	group	PROPN
ftr-309	85	20	lp	lp	PROPN
ftr-309	85	21	and	and	CCONJ
ftr-309	85	22	similar	similar	ADJ
ftr-309	85	23	companies.9	companies.9	PROPN
ftr-309	85	24	however	however	ADV
ftr-309	85	25	,	,	PUNCT
ftr-309	85	26	these	these	DET
ftr-309	85	27	reforms	reform	NOUN
ftr-309	85	28	sought	seek	VERB
ftr-309	85	29	to	to	PART
ftr-309	85	30	change	change	VERB
ftr-309	85	31	the	the	DET
ftr-309	85	32	publicly	publicly	ADV
ftr-309	85	33	traded	trade	VERB
ftr-309	85	34	partnership	partnership	NOUN
ftr-309	85	35	rules	rule	NOUN
ftr-309	85	36	rather	rather	ADV
ftr-309	85	37	than	than	ADP
ftr-309	85	38	address	address	VERB
ftr-309	85	39	the	the	DET
ftr-309	85	40	root	root	NOUN
ftr-309	85	41	of	of	ADP
ftr-309	85	42	the	the	DET
ftr-309	85	43	problem	problem	NOUN
ftr-309	85	44	the	the	DET
ftr-309	85	45	manner	manner	NOUN
ftr-309	85	46	in	in	ADP
ftr-309	85	47	which	which	PRON
ftr-309	85	48	tax	tax	NOUN
ftr-309	85	49	items	item	NOUN
ftr-309	85	50	are	be	AUX
ftr-309	85	51	allocated	allocate	VERB
ftr-309	85	52	by	by	ADP
ftr-309	85	53	the	the	DET
ftr-309	85	54	underlying	underlie	VERB
ftr-309	85	55	partnership	partnership	NOUN
ftr-309	85	56	.	.	PUNCT
ftr-309	86	1	moreover	moreover	ADV
ftr-309	86	2	,	,	PUNCT
ftr-309	86	3	the	the	DET
ftr-309	86	4	proposed	propose	VERB
ftr-309	86	5	reforms	reform	NOUN
ftr-309	86	6	were	be	AUX
ftr-309	86	7	not	not	PART
ftr-309	86	8	enacted	enact	VERB
ftr-309	86	9	.	.	PUNCT
ftr-309	87	1	unlike	unlike	ADP
ftr-309	87	2	the	the	DET
ftr-309	87	3	reforms	reform	NOUN
ftr-309	87	4	proposed	propose	VERB
ftr-309	87	5	by	by	ADP
ftr-309	87	6	congress	congress	PROPN
ftr-309	87	7	,	,	PUNCT
ftr-309	87	8	this	this	DET
ftr-309	87	9	article	article	NOUN
ftr-309	87	10	focuses	focus	VERB
ftr-309	87	11	on	on	ADP
ftr-309	87	12	the	the	DET
ftr-309	87	13	allocations	allocation	NOUN
ftr-309	87	14	by	by	ADP
ftr-309	87	15	the	the	DET
ftr-309	87	16	underlying	underlie	VERB
ftr-309	87	17	partnership	partnership	NOUN
ftr-309	87	18	.	.	PUNCT
ftr-309	88	1	existing	exist	VERB
ftr-309	88	2	tax	tax	NOUN
ftr-309	88	3	regulations	regulation	NOUN
ftr-309	88	4	restrict	restrict	VERB
ftr-309	88	5	how	how	SCONJ
ftr-309	88	6	a	a	DET
ftr-309	88	7	partnership	partnership	NOUN
ftr-309	88	8	,	,	PUNCT
ftr-309	88	9	like	like	ADP
ftr-309	88	10	the	the	DET
ftr-309	88	11	underlying	underlie	VERB
ftr-309	88	12	partnership	partnership	NOUN
ftr-309	88	13	,	,	PUNCT
ftr-309	88	14	can	can	AUX
ftr-309	88	15	allocate	allocate	VERB
ftr-309	88	16	income	income	NOUN
ftr-309	88	17	among	among	ADP
ftr-309	88	18	its	its	PRON
ftr-309	88	19	partners	partner	NOUN
ftr-309	88	20	.	.	PUNCT
ftr-309	89	1	lawmakers	lawmaker	NOUN
ftr-309	89	2	intended	intend	VERB
ftr-309	89	3	for	for	ADP
ftr-309	89	4	these	these	DET
ftr-309	89	5	regulations	regulation	NOUN
ftr-309	89	6	to	to	PART
ftr-309	89	7	deter	deter	VERB
ftr-309	89	8	excessively	excessively	ADV
ftr-309	89	9	tax	tax	NOUN
ftr-309	89	10	-	-	PUNCT
ftr-309	89	11	motivated	motivate	VERB
ftr-309	89	12	allocations	allocation	NOUN
ftr-309	89	13	,	,	PUNCT
ftr-309	89	14	believing	believe	VERB
ftr-309	89	15	that	that	SCONJ
ftr-309	89	16	they	they	PRON
ftr-309	89	17	could	could	AUX
ftr-309	89	18	achieve	achieve	VERB
ftr-309	89	19	the	the	DET
ftr-309	89	20	objective	objective	NOUN
ftr-309	89	21	of	of	ADP
ftr-309	89	22	disallowing	disallow	VERB
ftr-309	89	23	tax	tax	NOUN
ftr-309	89	24	-	-	PUNCT
ftr-309	89	25	motivated	motivate	VERB
ftr-309	89	26	allocations	allocation	NOUN
ftr-309	89	27	by	by	ADP
ftr-309	89	28	requiring	require	VERB
ftr-309	89	29	partnerships	partnership	NOUN
ftr-309	89	30	to	to	PART
ftr-309	89	31	follow	follow	VERB
ftr-309	89	32	technical	technical	ADJ
ftr-309	89	33	,	,	PUNCT
ftr-309	89	34	mechanical	mechanical	ADJ
ftr-309	89	35	rules	rule	NOUN
ftr-309	89	36	.	.	PUNCT
ftr-309	89	37	'o	'o	PART
ftr-309	89	38	however	however	ADV
ftr-309	89	39	,	,	PUNCT
ftr-309	89	40	although	although	SCONJ
ftr-309	89	41	the	the	DET
ftr-309	89	42	mechanical	mechanical	ADJ
ftr-309	89	43	rules	rule	NOUN
ftr-309	89	44	might	might	AUX
ftr-309	89	45	have	have	VERB
ftr-309	89	46	a	a	DET
ftr-309	89	47	chance	chance	NOUN
ftr-309	89	48	of	of	ADP
ftr-309	89	49	preventing	prevent	VERB
ftr-309	89	50	a	a	DET
ftr-309	89	51	partnership	partnership	NOUN
ftr-309	89	52	from	from	ADP
ftr-309	89	53	utilizing	utilize	VERB
ftr-309	89	54	tax	tax	NOUN
ftr-309	89	55	-	-	PUNCT
ftr-309	89	56	motivated	motivate	VERB
ftr-309	89	57	allocations	allocation	NOUN
ftr-309	89	58	if	if	SCONJ
ftr-309	89	59	its	its	PRON
ftr-309	89	60	partners	partner	NOUN
ftr-309	89	61	are	be	AUX
ftr-309	89	62	unrelated	unrelated	ADJ
ftr-309	89	63	and	and	CCONJ
ftr-309	89	64	,	,	PUNCT
ftr-309	89	65	thus	thus	ADV
ftr-309	89	66	,	,	PUNCT
ftr-309	89	67	have	have	AUX
ftr-309	89	68	opposing	oppose	VERB
ftr-309	89	69	economic	economic	ADJ
ftr-309	89	70	interests	interest	NOUN
ftr-309	89	71	,	,	PUNCT
ftr-309	89	72	the	the	DET
ftr-309	89	73	rules	rule	NOUN
ftr-309	89	74	are	be	AUX
ftr-309	89	75	ill	ill	ADV
ftr-309	89	76	-	-	PUNCT
ftr-309	89	77	suited	suited	ADJ
ftr-309	89	78	for	for	ADP
ftr-309	89	79	restricting	restrict	VERB
ftr-309	89	80	the	the	DET
ftr-309	89	81	allocations	allocation	NOUN
ftr-309	89	82	of	of	ADP
ftr-309	89	83	a	a	DET
ftr-309	89	84	partnership	partnership	NOUN
ftr-309	89	85	when	when	SCONJ
ftr-309	89	86	its	its	PRON
ftr-309	89	87	partners	partner	NOUN
ftr-309	89	88	are	be	AUX
ftr-309	89	89	related	relate	VERB
ftr-309	89	90	and	and	CCONJ
ftr-309	89	91	their	their	PRON
ftr-309	89	92	economic	economic	ADJ
ftr-309	89	93	interests	interest	NOUN
ftr-309	89	94	are	be	AUX
ftr-309	89	95	aligned	align	VERB
ftr-309	89	96	.	.	PUNCT
ftr-309	89	97	"	"	PUNCT
ftr-309	90	1	the	the	DET
ftr-309	90	2	structure	structure	NOUN
ftr-309	90	3	used	use	VERB
ftr-309	90	4	by	by	ADP
ftr-309	90	5	blackstone	blackstone	NOUN
ftr-309	90	6	group	group	NOUN
ftr-309	90	7	and	and	CCONJ
ftr-309	90	8	numerous	numerous	ADJ
ftr-309	90	9	other	other	ADJ
ftr-309	90	10	taxpayers	taxpayer	NOUN
ftr-309	90	11	takes	take	VERB
ftr-309	90	12	advantage	advantage	NOUN
ftr-309	90	13	of	of	ADP
ftr-309	90	14	this	this	DET
ftr-309	90	15	significant	significant	ADJ
ftr-309	90	16	unintended	unintended	ADJ
ftr-309	90	17	loophole	loophole	NOUN
ftr-309	90	18	in	in	ADP
ftr-309	90	19	the	the	DET
ftr-309	90	20	partnership	partnership	NOUN
ftr-309	90	21	tax	tax	NOUN
ftr-309	90	22	allocation	allocation	NOUN
ftr-309	90	23	rules	rule	NOUN
ftr-309	90	24	.	.	PUNCT
ftr-309	91	1	in	in	ADP
ftr-309	91	2	particular	particular	ADJ
ftr-309	91	3	,	,	PUNCT
ftr-309	91	4	because	because	SCONJ
ftr-309	91	5	the	the	DET
ftr-309	91	6	partners	partner	NOUN
ftr-309	91	7	in	in	ADP
ftr-309	91	8	the	the	DET
ftr-309	91	9	underlying	underlie	VERB
ftr-309	91	10	partnership	partnership	NOUN
ftr-309	91	11	are	be	AUX
ftr-309	91	12	related	relate	VERB
ftr-309	91	13	,	,	PUNCT
ftr-309	91	14	the	the	DET
ftr-309	91	15	underlying	underlie	VERB
ftr-309	91	16	partnership	partnership	NOUN
ftr-309	91	17	is	be	AUX
ftr-309	91	18	able	able	ADJ
ftr-309	91	19	to	to	PART
ftr-309	91	20	allocate	allocate	VERB
ftr-309	91	21	income	income	NOUN
ftr-309	91	22	in	in	ADP
ftr-309	91	23	a	a	DET
ftr-309	91	24	tax	tax	NOUN
ftr-309	91	25	-	-	PUNCT
ftr-309	91	26	motivated	motivated	ADJ
ftr-309	91	27	manner	manner	NOUN
ftr-309	91	28	without	without	ADP
ftr-309	91	29	running	run	VERB
ftr-309	91	30	afoul	afoul	NOUN
ftr-309	91	31	of	of	ADP
ftr-309	91	32	the	the	DET
ftr-309	91	33	literal	literal	ADJ
ftr-309	91	34	language	language	NOUN
ftr-309	91	35	of	of	ADP
ftr-309	91	36	the	the	DET
ftr-309	91	37	partnership	partnership	NOUN
ftr-309	91	38	tax	tax	NOUN
ftr-309	91	39	allocation	allocation	NOUN
ftr-309	91	40	rules	rule	NOUN
ftr-309	91	41	.	.	PUNCT
ftr-309	92	1	fortunately	fortunately	ADV
ftr-309	92	2	,	,	PUNCT
ftr-309	92	3	existing	exist	VERB
ftr-309	92	4	tax	tax	NOUN
ftr-309	92	5	law	law	NOUN
ftr-309	92	6	offers	offer	VERB
ftr-309	92	7	a	a	DET
ftr-309	92	8	tool	tool	NOUN
ftr-309	92	9	that	that	PRON
ftr-309	92	10	can	can	AUX
ftr-309	92	11	be	be	AUX
ftr-309	92	12	used	use	VERB
ftr-309	92	13	to	to	PART
ftr-309	92	14	close	close	VERB
ftr-309	92	15	the	the	DET
ftr-309	92	16	unintended	unintended	ADJ
ftr-309	92	17	loophole	loophole	NOUN
ftr-309	92	18	in	in	ADP
ftr-309	92	19	the	the	DET
ftr-309	92	20	partnership	partnership	NOUN
ftr-309	92	21	tax	tax	NOUN
ftr-309	92	22	allocation	allocation	NOUN
ftr-309	92	23	rules	rule	NOUN
ftr-309	92	24	highlighted	highlight	VERB
ftr-309	92	25	by	by	ADP
ftr-309	92	26	this	this	DET
ftr-309	92	27	article	article	NOUN
ftr-309	92	28	.	.	PUNCT
ftr-309	93	1	perhaps	perhaps	ADV
ftr-309	93	2	because	because	SCONJ
ftr-309	93	3	it	it	PRON
ftr-309	93	4	is	be	AUX
ftr-309	93	5	not	not	PART
ftr-309	93	6	unusual	unusual	ADJ
ftr-309	93	7	for	for	SCONJ
ftr-309	93	8	technical	technical	ADJ
ftr-309	93	9	tax	tax	NOUN
ftr-309	93	10	rules	rule	NOUN
ftr-309	93	11	to	to	PART
ftr-309	93	12	contain	contain	VERB
ftr-309	93	13	unintended	unintended	ADJ
ftr-309	93	14	gaps	gap	NOUN
ftr-309	93	15	,	,	PUNCT
ftr-309	93	16	existing	exist	VERB
ftr-309	93	17	tax	tax	NOUN
ftr-309	93	18	law	law	NOUN
ftr-309	93	19	provides	provide	VERB
ftr-309	93	20	general	general	ADJ
ftr-309	93	21	standards	standard	NOUN
ftr-309	93	22	that	that	PRON
ftr-309	93	23	the	the	DET
ftr-309	93	24	irs	irs	PROPN
ftr-309	93	25	can	can	AUX
ftr-309	93	26	use	use	VERB
ftr-309	93	27	to	to	PART
ftr-309	93	28	challenge	challenge	VERB
ftr-309	93	29	taxpayers	taxpayer	NOUN
ftr-309	93	30	who	who	PRON
ftr-309	93	31	abuse	abuse	VERB
ftr-309	93	32	the	the	DET
ftr-309	93	33	gaps	gap	NOUN
ftr-309	93	34	.	.	PUNCT
ftr-309	94	1	this	this	DET
ftr-309	94	2	article	article	NOUN
ftr-309	94	3	deal	deal	VERB
ftr-309	94	4	so	so	SCONJ
ftr-309	94	5	that	that	SCONJ
ftr-309	94	6	investors	investor	NOUN
ftr-309	94	7	in	in	ADP
ftr-309	94	8	the	the	DET
ftr-309	94	9	publicly	publicly	ADV
ftr-309	94	10	traded	trade	VERB
ftr-309	94	11	entities	entity	NOUN
ftr-309	94	12	were	be	AUX
ftr-309	94	13	no	no	ADV
ftr-309	94	14	longer	long	ADV
ftr-309	94	15	entitled	entitle	VERB
ftr-309	94	16	to	to	PART
ftr-309	94	17	receive	receive	VERB
ftr-309	94	18	a	a	DET
ftr-309	94	19	share	share	NOUN
ftr-309	94	20	of	of	ADP
ftr-309	94	21	management	management	NOUN
ftr-309	94	22	fees	fee	NOUN
ftr-309	94	23	.	.	PUNCT
ftr-309	95	1	7	7	X
ftr-309	95	2	.	.	X
ftr-309	95	3	john	john	PROPN
ftr-309	95	4	d.	d.	PROPN
ftr-309	95	5	mckinnon	mckinnon	PROPN
ftr-309	95	6	,	,	PUNCT
ftr-309	95	7	more	more	ADJ
ftr-309	95	8	firms	firm	NOUN
ftr-309	95	9	enjoy	enjoy	VERB
ftr-309	95	10	tax	tax	NOUN
ftr-309	95	11	free	free	ADJ
ftr-309	95	12	status	status	NOUN
ftr-309	95	13	,	,	PUNCT
ftr-309	95	14	wall	wall	PROPN
ftr-309	95	15	st	st	PROPN
ftr-309	95	16	.	.	PROPN
ftr-309	95	17	j.	j.	PROPN
ftr-309	95	18	,	,	PUNCT
ftr-309	95	19	jan	jan	PROPN
ftr-309	95	20	.	.	PROPN
ftr-309	95	21	10	10	NUM
ftr-309	95	22	,	,	PUNCT
ftr-309	95	23	2012	2012	NUM
ftr-309	95	24	,	,	PUNCT
ftr-309	95	25	http://online.wsj.com/article/sb1000142405297020373350457702	http://online.wsj.com/article/sb1000142405297020373350457702	PROPN
ftr-309	95	26	6361246836488.html	6361246836488.html	NUM
ftr-309	95	27	.	.	PUNCT
ftr-309	96	1	8	8	NUM
ftr-309	96	2	.	.	PUNCT
ftr-309	97	1	i	i	PRON
ftr-309	97	2	d.	d.	PROPN
ftr-309	97	3	9	9	NUM
ftr-309	97	4	.	.	PUNCT
ftr-309	98	1	see	see	VERB
ftr-309	98	2	infra	infra	NOUN
ftr-309	98	3	part	part	NOUN
ftr-309	98	4	iv	iv	NOUN
ftr-309	98	5	.	.	PROPN
ftr-309	98	6	10	10	NUM
ftr-309	98	7	.	.	PUNCT
ftr-309	99	1	see	see	VERB
ftr-309	99	2	infra	infra	NOUN
ftr-309	99	3	notes	note	NOUN
ftr-309	99	4	and	and	CCONJ
ftr-309	99	5	accompanying	accompany	VERB
ftr-309	99	6	text	text	NOUN
ftr-309	99	7	.	.	PUNCT
ftr-309	100	1	11	11	NUM
ftr-309	100	2	.	.	PUNCT
ftr-309	101	1	i	i	PRON
ftr-309	101	2	use	use	VERB
ftr-309	101	3	the	the	DET
ftr-309	101	4	term	term	NOUN
ftr-309	101	5	"	"	PUNCT
ftr-309	101	6	unrelated	unrelated	ADJ
ftr-309	101	7	"	"	PUNCT
ftr-309	101	8	to	to	PART
ftr-309	101	9	refer	refer	VERB
ftr-309	101	10	to	to	ADP
ftr-309	101	11	partners	partner	NOUN
ftr-309	101	12	with	with	ADP
ftr-309	101	13	opposing	oppose	VERB
ftr-309	101	14	economic	economic	ADJ
ftr-309	101	15	interests	interest	NOUN
ftr-309	101	16	,	,	PUNCT
ftr-309	101	17	and	and	CCONJ
ftr-309	101	18	i	i	PRON
ftr-309	101	19	use	use	VERB
ftr-309	101	20	"	"	PUNCT
ftr-309	101	21	related	relate	VERB
ftr-309	101	22	"	"	PUNCT
ftr-309	101	23	to	to	PART
ftr-309	101	24	refer	refer	VERB
ftr-309	101	25	to	to	ADP
ftr-309	101	26	partners	partner	NOUN
ftr-309	101	27	with	with	ADP
ftr-309	101	28	economic	economic	ADJ
ftr-309	101	29	interests	interest	NOUN
ftr-309	101	30	that	that	PRON
ftr-309	101	31	are	be	AUX
ftr-309	101	32	aligned	align	VERB
ftr-309	101	33	.	.	PUNCT
ftr-309	102	1	for	for	ADP
ftr-309	102	2	further	further	ADJ
ftr-309	102	3	discussion	discussion	NOUN
ftr-309	102	4	of	of	ADP
ftr-309	102	5	when	when	SCONJ
ftr-309	102	6	partners	partner	NOUN
ftr-309	102	7	would	would	AUX
ftr-309	102	8	be	be	AUX
ftr-309	102	9	"	"	PUNCT
ftr-309	102	10	related	relate	VERB
ftr-309	102	11	,	,	PUNCT
ftr-309	102	12	"	"	PUNCT
ftr-309	102	13	see	see	VERB
ftr-309	102	14	infra	infra	NOUN
ftr-309	102	15	note	note	NOUN
ftr-309	102	16	.	.	PUNCT
ftr-309	103	1	157	157	NUM
ftr-309	103	2	florida	florida	PROPN
ftr-309	103	3	tax	tax	NOUN
ftr-309	103	4	review	review	NOUN
ftr-309	103	5	proposes	propose	VERB
ftr-309	103	6	that	that	SCONJ
ftr-309	103	7	the	the	DET
ftr-309	103	8	irs	irs	PROPN
ftr-309	103	9	use	use	VERB
ftr-309	103	10	such	such	DET
ftr-309	103	11	a	a	DET
ftr-309	103	12	standard	standard	NOUN
ftr-309	103	13	to	to	PART
ftr-309	103	14	protect	protect	VERB
ftr-309	103	15	the	the	DET
ftr-309	103	16	tax	tax	NOUN
ftr-309	103	17	system	system	NOUN
ftr-309	103	18	from	from	ADP
ftr-309	103	19	taxpayers	taxpayer	NOUN
ftr-309	103	20	,	,	PUNCT
ftr-309	103	21	like	like	ADP
ftr-309	103	22	blackstone	blackstone	NOUN
ftr-309	103	23	group	group	NOUN
ftr-309	103	24	,	,	PUNCT
ftr-309	103	25	who	who	PRON
ftr-309	103	26	exploit	exploit	VERB
ftr-309	103	27	the	the	DET
ftr-309	103	28	partnership	partnership	NOUN
ftr-309	103	29	tax	tax	NOUN
ftr-309	103	30	rules	rule	NOUN
ftr-309	103	31	'	'	PART
ftr-309	103	32	unintended	unintended	ADJ
ftr-309	103	33	failure	failure	NOUN
ftr-309	103	34	to	to	ADP
ftr-309	103	35	police	police	NOUN
ftr-309	103	36	allocations	allocation	NOUN
ftr-309	103	37	among	among	ADP
ftr-309	103	38	related	related	ADJ
ftr-309	103	39	partners	partner	NOUN
ftr-309	103	40	.	.	PUNCT
ftr-309	104	1	in	in	ADP
ftr-309	104	2	particular	particular	ADJ
ftr-309	104	3	,	,	PUNCT
ftr-309	104	4	this	this	DET
ftr-309	104	5	article	article	NOUN
ftr-309	104	6	proposes	propose	VERB
ftr-309	104	7	that	that	SCONJ
ftr-309	104	8	the	the	DET
ftr-309	104	9	irs	irs	PROPN
ftr-309	104	10	invoke	invoke	VERB
ftr-309	104	11	section	section	NOUN
ftr-309	104	12	482	482	NUM
ftr-309	104	13	to	to	PART
ftr-309	104	14	challenge	challenge	VERB
ftr-309	104	15	the	the	DET
ftr-309	104	16	results	result	NOUN
ftr-309	104	17	claimed	claim	VERB
ftr-309	104	18	by	by	ADP
ftr-309	104	19	blackstone	blackstone	NOUN
ftr-309	104	20	group	group	NOUN
ftr-309	104	21	.	.	PUNCT
ftr-309	105	1	section	section	NOUN
ftr-309	105	2	482	482	NUM
ftr-309	105	3	deals	deal	NOUN
ftr-309	105	4	broadly	broadly	ADV
ftr-309	105	5	with	with	ADP
ftr-309	105	6	the	the	DET
ftr-309	105	7	ubiquitous	ubiquitous	ADJ
ftr-309	105	8	problems	problem	NOUN
ftr-309	105	9	arising	arise	VERB
ftr-309	105	10	from	from	ADP
ftr-309	105	11	the	the	DET
ftr-309	105	12	fact	fact	NOUN
ftr-309	105	13	that	that	SCONJ
ftr-309	105	14	related	related	ADJ
ftr-309	105	15	parties	party	NOUN
ftr-309	105	16	do	do	AUX
ftr-309	105	17	not	not	PART
ftr-309	105	18	negotiate	negotiate	VERB
ftr-309	105	19	at	at	ADP
ftr-309	105	20	armslength	armslength	NOUN
ftr-309	105	21	and	and	CCONJ
ftr-309	105	22	,	,	PUNCT
ftr-309	105	23	in	in	ADP
ftr-309	105	24	turn	turn	NOUN
ftr-309	105	25	,	,	PUNCT
ftr-309	105	26	might	might	AUX
ftr-309	105	27	manage	manage	VERB
ftr-309	105	28	their	their	PRON
ftr-309	105	29	transactions	transaction	NOUN
ftr-309	105	30	in	in	ADP
ftr-309	105	31	a	a	DET
ftr-309	105	32	way	way	NOUN
ftr-309	105	33	designed	design	VERB
ftr-309	105	34	purely	purely	ADV
ftr-309	105	35	to	to	PART
ftr-309	105	36	minimize	minimize	VERB
ftr-309	105	37	aggregate	aggregate	ADJ
ftr-309	105	38	tax	tax	NOUN
ftr-309	105	39	liability.12	liability.12	NOUN
ftr-309	105	40	this	this	DET
ftr-309	105	41	article	article	NOUN
ftr-309	105	42	contributes	contribute	VERB
ftr-309	105	43	to	to	ADP
ftr-309	105	44	the	the	DET
ftr-309	105	45	existing	exist	VERB
ftr-309	105	46	literature	literature	NOUN
ftr-309	105	47	in	in	ADP
ftr-309	105	48	two	two	NUM
ftr-309	105	49	significant	significant	ADJ
ftr-309	105	50	ways	way	NOUN
ftr-309	105	51	.	.	PUNCT
ftr-309	106	1	first	first	ADV
ftr-309	106	2	,	,	PUNCT
ftr-309	106	3	rather	rather	ADV
ftr-309	106	4	than	than	SCONJ
ftr-309	106	5	discuss	discuss	VERB
ftr-309	106	6	legislative	legislative	ADJ
ftr-309	106	7	reforms	reform	NOUN
ftr-309	106	8	that	that	PRON
ftr-309	106	9	would	would	AUX
ftr-309	106	10	alter	alter	VERB
ftr-309	106	11	the	the	DET
ftr-309	106	12	results	result	NOUN
ftr-309	106	13	claimed	claim	VERB
ftr-309	106	14	by	by	ADP
ftr-309	106	15	blackstone	blackstone	NOUN
ftr-309	106	16	group	group	NOUN
ftr-309	106	17	and	and	CCONJ
ftr-309	106	18	other	other	ADJ
ftr-309	106	19	taxpayers	taxpayer	NOUN
ftr-309	106	20	,	,	PUNCT
ftr-309	106	21	this	this	DET
ftr-309	106	22	article	article	NOUN
ftr-309	106	23	argues	argue	VERB
ftr-309	106	24	that	that	SCONJ
ftr-309	106	25	these	these	DET
ftr-309	106	26	transactions	transaction	NOUN
ftr-309	106	27	are	be	AUX
ftr-309	106	28	vulnerable	vulnerable	ADJ
ftr-309	106	29	to	to	ADP
ftr-309	106	30	challenge	challenge	VERB
ftr-309	106	31	under	under	ADP
ftr-309	106	32	current	current	ADJ
ftr-309	106	33	law	law	NOUN
ftr-309	106	34	.	.	PUNCT
ftr-309	107	1	this	this	DET
ftr-309	107	2	conclusion	conclusion	NOUN
ftr-309	107	3	is	be	AUX
ftr-309	107	4	significant	significant	ADJ
ftr-309	107	5	because	because	SCONJ
ftr-309	107	6	it	it	PRON
ftr-309	107	7	suggests	suggest	VERB
ftr-309	107	8	that	that	SCONJ
ftr-309	107	9	steps	step	NOUN
ftr-309	107	10	could	could	AUX
ftr-309	107	11	be	be	AUX
ftr-309	107	12	taken	take	VERB
ftr-309	107	13	to	to	PART
ftr-309	107	14	address	address	VERB
ftr-309	107	15	the	the	DET
ftr-309	107	16	transactions	transaction	NOUN
ftr-309	107	17	even	even	ADV
ftr-309	107	18	if	if	SCONJ
ftr-309	107	19	congress	congress	PROPN
ftr-309	107	20	fails	fail	VERB
ftr-309	107	21	to	to	PART
ftr-309	107	22	act	act	VERB
ftr-309	107	23	.	.	PUNCT
ftr-309	108	1	second	second	ADV
ftr-309	108	2	,	,	PUNCT
ftr-309	108	3	this	this	DET
ftr-309	108	4	article	article	NOUN
ftr-309	108	5	highlights	highlight	VERB
ftr-309	108	6	an	an	DET
ftr-309	108	7	important	important	ADJ
ftr-309	108	8	shortcoming	shortcoming	NOUN
ftr-309	108	9	of	of	ADP
ftr-309	108	10	the	the	DET
ftr-309	108	11	partnership	partnership	NOUN
ftr-309	108	12	tax	tax	NOUN
ftr-309	108	13	allocation	allocation	NOUN
ftr-309	108	14	rules	rule	NOUN
ftr-309	108	15	that	that	PRON
ftr-309	108	16	has	have	AUX
ftr-309	108	17	received	receive	VERB
ftr-309	108	18	little	little	ADJ
ftr-309	108	19	attention	attention	NOUN
ftr-309	108	20	by	by	ADP
ftr-309	108	21	scholars	scholar	NOUN
ftr-309	108	22	.	.	PUNCT
ftr-309	109	1	3	3	NUM
ftr-309	109	2	this	this	DET
ftr-309	109	3	article	article	NOUN
ftr-309	109	4	begins	begin	VERB
ftr-309	109	5	to	to	PART
ftr-309	109	6	fill	fill	VERB
ftr-309	109	7	this	this	DET
ftr-309	109	8	void	void	NOUN
ftr-309	109	9	in	in	ADP
ftr-309	109	10	the	the	DET
ftr-309	109	11	existing	exist	VERB
ftr-309	109	12	literature	literature	NOUN
ftr-309	109	13	by	by	ADP
ftr-309	109	14	discussing	discuss	VERB
ftr-309	109	15	the	the	DET
ftr-309	109	16	failure	failure	NOUN
ftr-309	109	17	of	of	ADP
ftr-309	109	18	the	the	DET
ftr-309	109	19	partnership	partnership	NOUN
ftr-309	109	20	tax	tax	NOUN
ftr-309	109	21	allocation	allocation	NOUN
ftr-309	109	22	rules	rule	NOUN
ftr-309	109	23	to	to	PART
ftr-309	109	24	regulate	regulate	VERB
ftr-309	109	25	allocations	allocation	NOUN
ftr-309	109	26	among	among	ADP
ftr-309	109	27	related	related	ADJ
ftr-309	109	28	partners	partner	NOUN
ftr-309	109	29	and	and	CCONJ
ftr-309	109	30	suggesting	suggest	VERB
ftr-309	109	31	how	how	SCONJ
ftr-309	109	32	the	the	DET
ftr-309	109	33	irs	irs	PROPN
ftr-309	109	34	could	could	AUX
ftr-309	109	35	use	use	VERB
ftr-309	109	36	existing	exist	VERB
ftr-309	109	37	tax	tax	NOUN
ftr-309	109	38	-	-	PUNCT
ftr-309	109	39	law	law	NOUN
ftr-309	109	40	standards	standard	NOUN
ftr-309	109	41	to	to	PART
ftr-309	109	42	compensate	compensate	VERB
ftr-309	109	43	for	for	ADP
ftr-309	109	44	the	the	DET
ftr-309	109	45	current	current	ADJ
ftr-309	109	46	partnership	partnership	NOUN
ftr-309	109	47	tax	tax	NOUN
ftr-309	109	48	rules	rule	NOUN
ftr-309	109	49	'	'	PART
ftr-309	109	50	shortcomings	shortcoming	NOUN
ftr-309	109	51	.	.	PUNCT
ftr-309	110	1	the	the	DET
ftr-309	110	2	irs	irs	PROPN
ftr-309	110	3	could	could	AUX
ftr-309	110	4	use	use	VERB
ftr-309	110	5	this	this	DET
ftr-309	110	6	proposed	propose	VERB
ftr-309	110	7	solution	solution	NOUN
ftr-309	110	8	broadly	broadly	ADV
ftr-309	110	9	because	because	SCONJ
ftr-309	110	10	it	it	PRON
ftr-309	110	11	would	would	AUX
ftr-309	110	12	apply	apply	VERB
ftr-309	110	13	whenever	whenever	SCONJ
ftr-309	110	14	related	related	ADJ
ftr-309	110	15	entities	entity	NOUN
ftr-309	110	16	form	form	VERB
ftr-309	110	17	a	a	DET
ftr-309	110	18	partnership	partnership	NOUN
ftr-309	110	19	and	and	CCONJ
ftr-309	110	20	engage	engage	VERB
ftr-309	110	21	in	in	ADP
ftr-309	110	22	tax	tax	NOUN
ftr-309	110	23	-	-	PUNCT
ftr-309	110	24	motivated	motivate	VERB
ftr-309	110	25	allocations	allocation	NOUN
ftr-309	110	26	.	.	PUNCT
ftr-309	111	1	finally	finally	ADV
ftr-309	111	2	,	,	PUNCT
ftr-309	111	3	because	because	SCONJ
ftr-309	111	4	recent	recent	ADJ
ftr-309	111	5	publicity	publicity	NOUN
ftr-309	111	6	regarding	regard	VERB
ftr-309	111	7	bain	bain	PROPN
ftr-309	111	8	capital	capital	PROPN
ftr-309	111	9	,	,	PUNCT
ftr-309	111	10	the	the	DET
ftr-309	111	11	private	private	ADJ
ftr-309	111	12	equity	equity	NOUN
ftr-309	111	13	firm	firm	NOUN
ftr-309	111	14	founded	found	VERB
ftr-309	111	15	by	by	ADP
ftr-309	111	16	mitt	mitt	PROPN
ftr-309	111	17	romney	romney	PROPN
ftr-309	111	18	,	,	PUNCT
ftr-309	111	19	has	have	AUX
ftr-309	111	20	once	once	ADV
ftr-309	111	21	again	again	ADV
ftr-309	111	22	focused	focus	VERB
ftr-309	111	23	public	public	ADJ
ftr-309	111	24	attention	attention	NOUN
ftr-309	111	25	on	on	ADP
ftr-309	111	26	the	the	DET
ftr-309	111	27	private	private	ADJ
ftr-309	111	28	equity	equity	NOUN
ftr-309	111	29	industry	industry	NOUN
ftr-309	111	30	,	,	PUNCT
ftr-309	111	31	4	4	NUM
ftr-309	111	32	now	now	ADV
ftr-309	111	33	is	be	AUX
ftr-309	111	34	a	a	DET
ftr-309	111	35	particularly	particularly	ADV
ftr-309	111	36	opportune	opportune	ADJ
ftr-309	111	37	time	time	NOUN
ftr-309	111	38	to	to	PART
ftr-309	111	39	examine	examine	VERB
ftr-309	111	40	tax	tax	NOUN
ftr-309	111	41	structuring	structuring	NOUN
ftr-309	111	42	used	use	VERB
ftr-309	111	43	by	by	ADP
ftr-309	111	44	private	private	ADJ
ftr-309	111	45	equity	equity	NOUN
ftr-309	111	46	funds	fund	NOUN
ftr-309	111	47	.	.	PUNCT
ftr-309	112	1	further	far	ADV
ftr-309	112	2	,	,	PUNCT
ftr-309	112	3	this	this	DET
ftr-309	112	4	topic	topic	NOUN
ftr-309	112	5	is	be	AUX
ftr-309	112	6	especially	especially	ADV
ftr-309	112	7	timely	timely	ADV
ftr-309	112	8	given	give	VERB
ftr-309	112	9	the	the	DET
ftr-309	112	10	nation	nation	NOUN
ftr-309	112	11	's	's	PART
ftr-309	112	12	fiscal	fiscal	ADJ
ftr-309	112	13	problems	problem	NOUN
ftr-309	112	14	and	and	CCONJ
ftr-309	112	15	the	the	DET
ftr-309	112	16	search	search	NOUN
ftr-309	112	17	for	for	ADP
ftr-309	112	18	additional	additional	ADJ
ftr-309	112	19	sources	source	NOUN
ftr-309	112	20	of	of	ADP
ftr-309	112	21	tax	tax	NOUN
ftr-309	112	22	revenue	revenue	NOUN
ftr-309	112	23	.	.	PUNCT
ftr-309	112	24	'5	'5	PROPN
ftr-309	113	1	12	12	NUM
ftr-309	113	2	.	.	PUNCT
ftr-309	114	1	for	for	ADP
ftr-309	114	2	further	further	ADJ
ftr-309	114	3	discussion	discussion	NOUN
ftr-309	114	4	of	of	ADP
ftr-309	114	5	section	section	NOUN
ftr-309	114	6	482	482	NUM
ftr-309	114	7	,	,	PUNCT
ftr-309	114	8	see	see	VERB
ftr-309	114	9	infra	infra	NOUN
ftr-309	114	10	part	part	NOUN
ftr-309	114	11	v.	v.	ADP
ftr-309	114	12	13	13	NUM
ftr-309	114	13	.	.	PUNCT
ftr-309	115	1	one	one	NUM
ftr-309	115	2	article	article	NOUN
ftr-309	115	3	does	do	AUX
ftr-309	115	4	briefly	briefly	ADV
ftr-309	115	5	discuss	discuss	VERB
ftr-309	115	6	the	the	DET
ftr-309	115	7	fact	fact	NOUN
ftr-309	115	8	that	that	SCONJ
ftr-309	115	9	the	the	DET
ftr-309	115	10	partnership	partnership	NOUN
ftr-309	115	11	tax	tax	NOUN
ftr-309	115	12	allocation	allocation	NOUN
ftr-309	115	13	rules	rule	NOUN
ftr-309	115	14	,	,	PUNCT
ftr-309	115	15	when	when	SCONJ
ftr-309	115	16	literally	literally	ADV
ftr-309	115	17	applied	apply	VERB
ftr-309	115	18	,	,	PUNCT
ftr-309	115	19	may	may	AUX
ftr-309	115	20	permit	permit	VERB
ftr-309	115	21	tax	tax	NOUN
ftr-309	115	22	-	-	PUNCT
ftr-309	115	23	motivated	motivate	VERB
ftr-309	115	24	allocations	allocation	NOUN
ftr-309	115	25	among	among	ADP
ftr-309	115	26	related	related	ADJ
ftr-309	115	27	partners	partner	NOUN
ftr-309	115	28	.	.	PUNCT
ftr-309	116	1	see	see	VERB
ftr-309	116	2	richard	richard	PROPN
ftr-309	116	3	m.	m.	PROPN
ftr-309	116	4	leder	leder	PROPN
ftr-309	116	5	,	,	PUNCT
ftr-309	116	6	tax	tax	NOUN
ftr-309	116	7	-	-	PUNCT
ftr-309	116	8	driven	drive	VERB
ftr-309	116	9	partnership	partnership	NOUN
ftr-309	116	10	allocations	allocation	NOUN
ftr-309	116	11	with	with	ADP
ftr-309	116	12	economic	economic	ADJ
ftr-309	116	13	effect	effect	NOUN
ftr-309	116	14	:	:	PUNCT
ftr-309	116	15	the	the	DET
ftr-309	116	16	overall	overall	ADJ
ftr-309	116	17	after	after	ADP
ftr-309	116	18	-	-	PUNCT
ftr-309	116	19	tax	tax	NOUN
ftr-309	116	20	present	present	ADJ
ftr-309	116	21	value	value	NOUN
ftr-309	116	22	test	test	NOUN
ftr-309	116	23	for	for	ADP
ftr-309	116	24	substantiality	substantiality	NOUN
ftr-309	116	25	and	and	CCONJ
ftr-309	116	26	other	other	ADJ
ftr-309	116	27	considerations	consideration	NOUN
ftr-309	116	28	,	,	PUNCT
ftr-309	116	29	54	54	NUM
ftr-309	116	30	tax	tax	NOUN
ftr-309	116	31	law	law	NOUN
ftr-309	116	32	.	.	PUNCT
ftr-309	117	1	753	753	NUM
ftr-309	117	2	,	,	PUNCT
ftr-309	117	3	769	769	NUM
ftr-309	117	4	,	,	PUNCT
ftr-309	117	5	779	779	NUM
ftr-309	117	6	-	-	SYM
ftr-309	117	7	80	80	NUM
ftr-309	117	8	(	(	PUNCT
ftr-309	117	9	2001	2001	NUM
ftr-309	117	10	)	)	PUNCT
ftr-309	118	1	[	[	X
ftr-309	118	2	hereinafter	hereinafter	NOUN
ftr-309	118	3	leder	leder	NOUN
ftr-309	118	4	,	,	PUNCT
ftr-309	118	5	tax	tax	NOUN
ftr-309	118	6	-	-	PUNCT
ftr-309	118	7	driven	drive	VERB
ftr-309	118	8	partnership	partnership	NOUN
ftr-309	118	9	allocations	allocation	NOUN
ftr-309	118	10	]	]	PUNCT
ftr-309	118	11	.	.	PUNCT
ftr-309	119	1	however	however	ADV
ftr-309	119	2	,	,	PUNCT
ftr-309	119	3	leder	leder	PROPN
ftr-309	119	4	's	's	PART
ftr-309	119	5	article	article	NOUN
ftr-309	119	6	does	do	AUX
ftr-309	119	7	not	not	PART
ftr-309	119	8	demonstrate	demonstrate	VERB
ftr-309	119	9	in	in	ADP
ftr-309	119	10	detail	detail	NOUN
ftr-309	119	11	how	how	SCONJ
ftr-309	119	12	the	the	DET
ftr-309	119	13	partnership	partnership	NOUN
ftr-309	119	14	tax	tax	NOUN
ftr-309	119	15	allocation	allocation	NOUN
ftr-309	119	16	rules	rule	NOUN
ftr-309	119	17	are	be	AUX
ftr-309	119	18	implicitly	implicitly	ADV
ftr-309	119	19	premised	premise	VERB
ftr-309	119	20	on	on	ADP
ftr-309	119	21	the	the	DET
ftr-309	119	22	assumption	assumption	NOUN
ftr-309	119	23	that	that	SCONJ
ftr-309	119	24	partners	partner	NOUN
ftr-309	119	25	are	be	AUX
ftr-309	119	26	unrelated	unrelated	ADJ
ftr-309	119	27	and	and	CCONJ
ftr-309	119	28	have	have	AUX
ftr-309	119	29	opposing	oppose	VERB
ftr-309	119	30	economic	economic	ADJ
ftr-309	119	31	interests	interest	NOUN
ftr-309	119	32	.	.	PUNCT
ftr-309	120	1	14	14	NUM
ftr-309	120	2	.	.	PUNCT
ftr-309	121	1	see	see	VERB
ftr-309	121	2	,	,	PUNCT
ftr-309	121	3	e.g.	e.g.	ADV
ftr-309	121	4	,	,	PUNCT
ftr-309	121	5	mark	mark	PROPN
ftr-309	121	6	maremont	maremont	NOUN
ftr-309	121	7	,	,	PUNCT
ftr-309	121	8	tax	tax	NOUN
ftr-309	121	9	rule	rule	NOUN
ftr-309	121	10	opens	open	VERB
ftr-309	121	11	rich	rich	ADJ
ftr-309	121	12	vein	vein	NOUN
ftr-309	121	13	for	for	ADP
ftr-309	121	14	debate	debate	NOUN
ftr-309	121	15	:	:	PUNCT
ftr-309	121	16	romney	romney	PROPN
ftr-309	121	17	's	's	PART
ftr-309	121	18	favorable	favorable	ADJ
ftr-309	121	19	treatment	treatment	NOUN
ftr-309	121	20	for	for	ADP
ftr-309	121	21	some	some	DET
ftr-309	121	22	bain	bain	NOUN
ftr-309	121	23	income	income	NOUN
ftr-309	121	24	draws	draw	VERB
ftr-309	121	25	attention	attention	NOUN
ftr-309	121	26	to	to	ADP
ftr-309	121	27	murky	murky	ADJ
ftr-309	121	28	reaches	reach	NOUN
ftr-309	121	29	of	of	ADP
ftr-309	121	30	irs	irs	PROPN
ftr-309	121	31	code	code	PROPN
ftr-309	121	32	,	,	PUNCT
ftr-309	121	33	wall	wall	PROPN
ftr-309	121	34	st	st	PROPN
ftr-309	121	35	.	.	PROPN
ftr-309	121	36	j.	j.	PROPN
ftr-309	121	37	,	,	PUNCT
ftr-309	121	38	jan	jan	PROPN
ftr-309	121	39	.	.	PROPN
ftr-309	121	40	28	28	NUM
ftr-309	121	41	,	,	PUNCT
ftr-309	121	42	2012	2012	NUM
ftr-309	121	43	,	,	PUNCT
ftr-309	121	44	at	at	ADP
ftr-309	121	45	a6	a6	NOUN
ftr-309	121	46	,	,	PUNCT
ftr-309	121	47	http://online.waj.com/	http://online.waj.com/	PROPN
ftr-309	121	48	article	article	PROPN
ftr-309	121	49	/	/	SYM
ftr-309	121	50	sb	sb	PROPN
ftr-309	121	51	10001424052970203363504577187100058632034.html	10001424052970203363504577187100058632034.html	NUM
ftr-309	121	52	.	.	PUNCT
ftr-309	122	1	15	15	NUM
ftr-309	122	2	.	.	X
ftr-309	123	1	see	see	VERB
ftr-309	123	2	,	,	PUNCT
ftr-309	123	3	e.g.	e.g.	ADV
ftr-309	123	4	,	,	PUNCT
ftr-309	123	5	jane	jane	PROPN
ftr-309	123	6	sasseen	sasseen	PROPN
ftr-309	123	7	,	,	PUNCT
ftr-309	123	8	with	with	ADP
ftr-309	123	9	tax	tax	NOUN
ftr-309	123	10	advantages	advantage	NOUN
ftr-309	123	11	looking	look	VERB
ftr-309	123	12	shaky	shaky	ADJ
ftr-309	123	13	,	,	PUNCT
ftr-309	123	14	private	private	ADJ
ftr-309	123	15	equity	equity	NOUN
ftr-309	123	16	seeks	seek	VERB
ftr-309	123	17	a	a	DET
ftr-309	123	18	new	new	ADJ
ftr-309	123	19	path	path	NOUN
ftr-309	123	20	,	,	PUNCT
ftr-309	123	21	n.y	n.y	PROPN
ftr-309	123	22	.	.	PROPN
ftr-309	123	23	times	times	PROPN
ftr-309	123	24	deal	deal	PROPN
ftr-309	123	25	book	book	NOUN
ftr-309	123	26	,	,	PUNCT
ftr-309	123	27	jan	jan	PROPN
ftr-309	123	28	21	21	NUM
ftr-309	123	29	,	,	PUNCT
ftr-309	123	30	2013	2013	NUM
ftr-309	123	31	,	,	PUNCT
ftr-309	123	32	http://dealbook	http://dealbook	NOUN
ftr-309	123	33	.	.	PUNCT
ftr-309	124	1	nytimes.com/2013/01/2	nytimes.com/2013/01/2	NOUN
ftr-309	124	2	1	1	NUM
ftr-309	124	3	/	/	SYM
ftr-309	124	4	with	with	ADP
ftr-309	124	5	-	-	PUNCT
ftr-309	124	6	tax	tax	NOUN
ftr-309	124	7	-	-	PUNCT
ftr-309	124	8	advantages	advantage	NOUN
ftr-309	124	9	-	-	PUNCT
ftr-309	124	10	looking	look	VERB
ftr-309	124	11	-	-	PUNCT
ftr-309	124	12	shaky	shaky	ADJ
ftr-309	124	13	-	-	PUNCT
ftr-309	124	14	private	private	ADJ
ftr-309	124	15	-	-	PUNCT
ftr-309	124	16	equity	equity	NOUN
ftr-309	124	17	-	-	PUNCT
ftr-309	124	18	seeks	seek	NOUN
ftr-309	124	19	-	-	PUNCT
ftr-309	124	20	a[vol	a[vol	NOUN
ftr-309	124	21	.	.	PUNCT
ftr-309	125	1	14:5158	14:5158	NUM
ftr-309	125	2	2013	2013	NUM
ftr-309	125	3	]	]	PUNCT
ftr-309	125	4	was	be	AUX
ftr-309	125	5	blackstone	blackstone	NOUN
ftr-309	125	6	's	's	PART
ftr-309	125	7	initial	initial	ADJ
ftr-309	125	8	public	public	ADJ
ftr-309	125	9	offering	offering	NOUN
ftr-309	125	10	too	too	ADV
ftr-309	125	11	good	good	ADJ
ftr-309	125	12	to	to	PART
ftr-309	125	13	be	be	AUX
ftr-309	125	14	true	true	ADJ
ftr-309	125	15	?	?	PUNCT
ftr-309	126	1	this	this	DET
ftr-309	126	2	article	article	NOUN
ftr-309	126	3	proceeds	proceed	VERB
ftr-309	126	4	as	as	SCONJ
ftr-309	126	5	follows	follow	VERB
ftr-309	126	6	:	:	PUNCT
ftr-309	126	7	part	part	PROPN
ftr-309	126	8	ii	ii	PROPN
ftr-309	126	9	describes	describe	VERB
ftr-309	126	10	the	the	DET
ftr-309	126	11	structure	structure	NOUN
ftr-309	126	12	used	use	VERB
ftr-309	126	13	by	by	ADP
ftr-309	126	14	blackstone	blackstone	PROPN
ftr-309	126	15	group	group	PROPN
ftr-309	126	16	lp	lp	PROPN
ftr-309	126	17	.	.	PUNCT
ftr-309	127	1	part	part	NOUN
ftr-309	127	2	iii	iii	NUM
ftr-309	127	3	highlights	highlight	NOUN
ftr-309	127	4	a	a	DET
ftr-309	127	5	dangerous	dangerous	ADJ
ftr-309	127	6	,	,	PUNCT
ftr-309	127	7	unintended	unintended	ADJ
ftr-309	127	8	loophole	loophole	NOUN
ftr-309	127	9	in	in	ADP
ftr-309	127	10	the	the	DET
ftr-309	127	11	partnership	partnership	NOUN
ftr-309	127	12	tax	tax	NOUN
ftr-309	127	13	allocation	allocation	NOUN
ftr-309	127	14	rules	rule	VERB
ftr-309	127	15	namely	namely	ADV
ftr-309	127	16	their	their	PRON
ftr-309	127	17	inability	inability	NOUN
ftr-309	127	18	to	to	PART
ftr-309	127	19	prevent	prevent	VERB
ftr-309	127	20	tax	tax	NOUN
ftr-309	127	21	-	-	PUNCT
ftr-309	127	22	motivated	motivate	VERB
ftr-309	127	23	allocations	allocation	NOUN
ftr-309	127	24	among	among	ADP
ftr-309	127	25	related	related	ADJ
ftr-309	127	26	partners	partner	NOUN
ftr-309	127	27	.	.	PUNCT
ftr-309	128	1	part	part	NOUN
ftr-309	128	2	iv	iv	NUM
ftr-309	128	3	discusses	discuss	VERB
ftr-309	128	4	congressional	congressional	ADJ
ftr-309	128	5	responses	response	NOUN
ftr-309	128	6	to	to	ADP
ftr-309	128	7	the	the	DET
ftr-309	128	8	blackstone	blackstone	NOUN
ftr-309	128	9	group	group	NOUN
ftr-309	128	10	lp	lp	PROPN
ftr-309	128	11	structure	structure	NOUN
ftr-309	128	12	.	.	PUNCT
ftr-309	129	1	part	part	NOUN
ftr-309	129	2	v	v	NOUN
ftr-309	129	3	proposes	propose	VERB
ftr-309	129	4	that	that	SCONJ
ftr-309	129	5	the	the	DET
ftr-309	129	6	irs	irs	PROPN
ftr-309	129	7	should	should	AUX
ftr-309	129	8	invoke	invoke	VERB
ftr-309	129	9	existing	exist	VERB
ftr-309	129	10	tax	tax	NOUN
ftr-309	129	11	-	-	PUNCT
ftr-309	129	12	law	law	NOUN
ftr-309	129	13	standards	standard	NOUN
ftr-309	129	14	to	to	PART
ftr-309	129	15	close	close	VERB
ftr-309	129	16	the	the	DET
ftr-309	129	17	loophole	loophole	NOUN
ftr-309	129	18	in	in	ADP
ftr-309	129	19	the	the	DET
ftr-309	129	20	partnership	partnership	NOUN
ftr-309	129	21	tax	tax	NOUN
ftr-309	129	22	allocation	allocation	NOUN
ftr-309	129	23	rules	rule	NOUN
ftr-309	129	24	,	,	PUNCT
ftr-309	129	25	enabling	enable	VERB
ftr-309	129	26	the	the	DET
ftr-309	129	27	irs	irs	PROPN
ftr-309	129	28	to	to	PART
ftr-309	129	29	challenge	challenge	VERB
ftr-309	129	30	the	the	DET
ftr-309	129	31	tax	tax	NOUN
ftr-309	129	32	consequences	consequence	NOUN
ftr-309	129	33	claimed	claim	VERB
ftr-309	129	34	by	by	ADP
ftr-309	129	35	blackstone	blackstone	NOUN
ftr-309	129	36	group	group	NOUN
ftr-309	129	37	and	and	CCONJ
ftr-309	129	38	other	other	ADJ
ftr-309	129	39	taxpayers	taxpayer	NOUN
ftr-309	129	40	.	.	PUNCT
ftr-309	130	1	part	part	NOUN
ftr-309	130	2	vi	vi	PROPN
ftr-309	130	3	considers	consider	VERB
ftr-309	130	4	and	and	CCONJ
ftr-309	130	5	responds	respond	VERB
ftr-309	130	6	to	to	ADP
ftr-309	130	7	potential	potential	ADJ
ftr-309	130	8	objections	objection	NOUN
ftr-309	130	9	to	to	ADP
ftr-309	130	10	the	the	DET
ftr-309	130	11	proposal	proposal	NOUN
ftr-309	130	12	in	in	ADP
ftr-309	130	13	part	part	NOUN
ftr-309	130	14	v.	v.	ADP
ftr-309	130	15	part	part	NOUN
ftr-309	130	16	vii	vii	PROPN
ftr-309	130	17	concludes	conclude	VERB
ftr-309	130	18	that	that	SCONJ
ftr-309	130	19	none	none	NOUN
ftr-309	130	20	of	of	ADP
ftr-309	130	21	the	the	DET
ftr-309	130	22	objections	objection	NOUN
ftr-309	130	23	discussed	discuss	VERB
ftr-309	130	24	in	in	ADP
ftr-309	130	25	part	part	NOUN
ftr-309	130	26	vi	vi	PROPN
ftr-309	130	27	justify	justify	VERB
ftr-309	130	28	the	the	DET
ftr-309	130	29	irs	irs	PROPN
ftr-309	130	30	's	's	PART
ftr-309	130	31	inaction	inaction	NOUN
ftr-309	130	32	,	,	PUNCT
ftr-309	130	33	and	and	CCONJ
ftr-309	130	34	,	,	PUNCT
ftr-309	130	35	as	as	ADP
ftr-309	130	36	a	a	DET
ftr-309	130	37	result	result	NOUN
ftr-309	130	38	,	,	PUNCT
ftr-309	130	39	the	the	DET
ftr-309	130	40	irs	irs	PROPN
ftr-309	130	41	should	should	AUX
ftr-309	130	42	challenge	challenge	VERB
ftr-309	130	43	the	the	DET
ftr-309	130	44	results	result	NOUN
ftr-309	130	45	claimed	claim	VERB
ftr-309	130	46	by	by	ADP
ftr-309	130	47	blackstone	blackstone	PROPN
ftr-309	130	48	group	group	PROPN
ftr-309	130	49	lp	lp	PROPN
ftr-309	130	50	.	.	PUNCT
ftr-309	130	51	ii	ii	PROPN
ftr-309	130	52	.	.	PUNCT
ftr-309	131	1	background	background	NOUN
ftr-309	131	2	:	:	PUNCT
ftr-309	131	3	what	what	PRON
ftr-309	131	4	does	do	AUX
ftr-309	131	5	the	the	DET
ftr-309	131	6	blackstone	blackstone	NOUN
ftr-309	131	7	group	group	NOUN
ftr-309	131	8	structure	structure	NOUN
ftr-309	131	9	attempt	attempt	NOUN
ftr-309	131	10	to	to	PART
ftr-309	131	11	accomplish	accomplish	VERB
ftr-309	131	12	?	?	PUNCT
ftr-309	132	1	although	although	SCONJ
ftr-309	132	2	entities	entity	NOUN
ftr-309	132	3	that	that	PRON
ftr-309	132	4	are	be	AUX
ftr-309	132	5	publicly	publicly	ADV
ftr-309	132	6	traded	trade	VERB
ftr-309	132	7	typically	typically	ADV
ftr-309	132	8	must	must	AUX
ftr-309	132	9	be	be	AUX
ftr-309	132	10	treated	treat	VERB
ftr-309	132	11	as	as	ADP
ftr-309	132	12	corporations	corporation	NOUN
ftr-309	132	13	for	for	ADP
ftr-309	132	14	tax	tax	NOUN
ftr-309	132	15	purposes	purpose	NOUN
ftr-309	132	16	,	,	PUNCT
ftr-309	132	17	a	a	DET
ftr-309	132	18	publicly	publicly	ADV
ftr-309	132	19	traded	trade	VERB
ftr-309	132	20	partnership	partnership	NOUN
ftr-309	132	21	is	be	AUX
ftr-309	132	22	eligible	eligible	ADJ
ftr-309	132	23	for	for	ADP
ftr-309	132	24	partnership	partnership	NOUN
ftr-309	132	25	tax	tax	NOUN
ftr-309	132	26	treatment	treatment	NOUN
ftr-309	132	27	in	in	ADP
ftr-309	132	28	a	a	DET
ftr-309	132	29	given	give	VERB
ftr-309	132	30	year	year	NOUN
ftr-309	132	31	if	if	SCONJ
ftr-309	132	32	at	at	ADV
ftr-309	132	33	least	least	ADV
ftr-309	132	34	90	90	NUM
ftr-309	132	35	percent	percent	NOUN
ftr-309	132	36	of	of	ADP
ftr-309	132	37	the	the	DET
ftr-309	132	38	partnership	partnership	NOUN
ftr-309	132	39	's	's	PART
ftr-309	132	40	gross	gross	ADJ
ftr-309	132	41	income	income	NOUN
ftr-309	132	42	consists	consist	VERB
ftr-309	132	43	of	of	ADP
ftr-309	132	44	certain	certain	ADJ
ftr-309	132	45	types	type	NOUN
ftr-309	132	46	of	of	ADP
ftr-309	132	47	"	"	PUNCT
ftr-309	132	48	qualifying	qualify	VERB
ftr-309	132	49	income	income	NOUN
ftr-309	132	50	"	"	PUNCT
ftr-309	132	51	in	in	ADP
ftr-309	132	52	that	that	DET
ftr-309	132	53	year	year	NOUN
ftr-309	132	54	and	and	CCONJ
ftr-309	132	55	all	all	DET
ftr-309	132	56	previous	previous	ADJ
ftr-309	132	57	years	year	NOUN
ftr-309	132	58	during	during	ADP
ftr-309	132	59	which	which	PRON
ftr-309	132	60	the	the	DET
ftr-309	132	61	partnership	partnership	NOUN
ftr-309	132	62	was	be	AUX
ftr-309	132	63	publicly	publicly	ADV
ftr-309	132	64	traded	trade	VERB
ftr-309	132	65	.	.	PUNCT
ftr-309	132	66	'	'	PUNCT
ftr-309	133	1	6	6	NUM
ftr-309	133	2	"	"	PUNCT
ftr-309	133	3	qualifying	qualify	VERB
ftr-309	133	4	income	income	NOUN
ftr-309	133	5	"	"	PUNCT
ftr-309	133	6	includes	include	VERB
ftr-309	133	7	dividend	dividend	NOUN
ftr-309	133	8	income	income	NOUN
ftr-309	133	9	,	,	PUNCT
ftr-309	133	10	interest	interest	NOUN
ftr-309	133	11	income	income	NOUN
ftr-309	133	12	,	,	PUNCT
ftr-309	133	13	capital	capital	NOUN
ftr-309	133	14	gain	gain	NOUN
ftr-309	133	15	income	income	NOUN
ftr-309	133	16	,	,	PUNCT
ftr-309	133	17	and	and	CCONJ
ftr-309	133	18	other	other	ADJ
ftr-309	133	19	types	type	NOUN
ftr-309	133	20	of	of	ADP
ftr-309	133	21	investment	investment	NOUN
ftr-309	133	22	income	income	NOUN
ftr-309	133	23	.	.	PUNCT
ftr-309	133	24	'	'	PUNCT
ftr-309	134	1	7	7	NUM
ftr-309	134	2	with	with	ADP
ftr-309	134	3	regard	regard	NOUN
ftr-309	134	4	to	to	ADP
ftr-309	134	5	the	the	DET
ftr-309	134	6	purpose	purpose	NOUN
ftr-309	134	7	of	of	ADP
ftr-309	134	8	this	this	DET
ftr-309	134	9	90	90	NUM
ftr-309	134	10	percent	percent	NOUN
ftr-309	134	11	qualifying	qualify	VERB
ftr-309	134	12	income	income	NOUN
ftr-309	134	13	rule	rule	NOUN
ftr-309	134	14	,	,	PUNCT
ftr-309	134	15	legislative	legislative	ADJ
ftr-309	134	16	history	history	NOUN
ftr-309	134	17	indicates	indicate	VERB
ftr-309	134	18	that	that	SCONJ
ftr-309	134	19	congress	congress	PROPN
ftr-309	134	20	thought	think	VERB
ftr-309	134	21	it	it	PRON
ftr-309	134	22	was	be	AUX
ftr-309	134	23	inappropriate	inappropriate	ADJ
ftr-309	134	24	to	to	PART
ftr-309	134	25	impose	impose	VERB
ftr-309	134	26	corporatelevel	corporatelevel	ADJ
ftr-309	134	27	tax	tax	NOUN
ftr-309	134	28	on	on	ADP
ftr-309	134	29	dividend	dividend	NOUN
ftr-309	134	30	income	income	NOUN
ftr-309	134	31	,	,	PUNCT
ftr-309	134	32	interest	interest	NOUN
ftr-309	134	33	income	income	NOUN
ftr-309	134	34	,	,	PUNCT
ftr-309	134	35	and	and	CCONJ
ftr-309	134	36	other	other	ADJ
ftr-309	134	37	types	type	NOUN
ftr-309	134	38	of	of	ADP
ftr-309	134	39	investment	investment	NOUN
ftr-309	134	40	income	income	NOUN
ftr-309	134	41	because	because	SCONJ
ftr-309	134	42	owners	owner	NOUN
ftr-309	134	43	of	of	ADP
ftr-309	134	44	the	the	DET
ftr-309	134	45	publicly	publicly	ADV
ftr-309	134	46	traded	trade	VERB
ftr-309	134	47	partnership	partnership	NOUN
ftr-309	134	48	could	could	AUX
ftr-309	134	49	earn	earn	VERB
ftr-309	134	50	such	such	ADJ
ftr-309	134	51	income	income	NOUN
ftr-309	134	52	directly	directly	ADV
ftr-309	134	53	rather	rather	ADV
ftr-309	134	54	than	than	ADP
ftr-309	134	55	through	through	ADP
ftr-309	134	56	a	a	DET
ftr-309	134	57	publicly	publicly	ADV
ftr-309	134	58	traded	trade	VERB
ftr-309	134	59	intermediary.18	intermediary.18	NOUN
ftr-309	134	60	maintaining	maintain	VERB
ftr-309	134	61	partnership	partnership	NOUN
ftr-309	134	62	tax	tax	NOUN
ftr-309	134	63	status	status	NOUN
ftr-309	134	64	is	be	AUX
ftr-309	134	65	advantageous	advantageous	ADJ
ftr-309	134	66	.	.	PUNCT
ftr-309	135	1	if	if	SCONJ
ftr-309	135	2	an	an	DET
ftr-309	135	3	entity	entity	NOUN
ftr-309	135	4	is	be	AUX
ftr-309	135	5	treated	treat	VERB
ftr-309	135	6	as	as	ADP
ftr-309	135	7	a	a	DET
ftr-309	135	8	corporation	corporation	NOUN
ftr-309	135	9	for	for	ADP
ftr-309	135	10	tax	tax	NOUN
ftr-309	135	11	purposes	purpose	NOUN
ftr-309	135	12	,	,	PUNCT
ftr-309	135	13	generally	generally	ADV
ftr-309	135	14	the	the	DET
ftr-309	135	15	entity	entity	NOUN
ftr-309	135	16	itself	itself	PRON
ftr-309	135	17	will	will	AUX
ftr-309	135	18	be	be	AUX
ftr-309	135	19	subject	subject	ADJ
ftr-309	135	20	to	to	ADP
ftr-309	135	21	tax	tax	NOUN
ftr-309	135	22	(	(	PUNCT
ftr-309	135	23	"	"	PUNCT
ftr-309	135	24	entity	entity	NOUN
ftr-309	135	25	-	-	PUNCT
ftr-309	135	26	level	level	NOUN
ftr-309	135	27	tax").19	tax").19	NOUN
ftr-309	135	28	furthermore	furthermore	ADV
ftr-309	135	29	,	,	PUNCT
ftr-309	135	30	owners	owner	NOUN
ftr-309	135	31	of	of	ADP
ftr-309	135	32	the	the	DET
ftr-309	135	33	entity	entity	NOUN
ftr-309	135	34	may	may	AUX
ftr-309	135	35	be	be	AUX
ftr-309	135	36	subject	subject	ADJ
ftr-309	135	37	to	to	ADP
ftr-309	135	38	tax	tax	NOUN
ftr-309	135	39	when	when	SCONJ
ftr-309	135	40	they	they	PRON
ftr-309	135	41	sell	sell	VERB
ftr-309	135	42	ownership	ownership	NOUN
ftr-309	135	43	interests	interest	NOUN
ftr-309	135	44	in	in	ADP
ftr-309	135	45	the	the	DET
ftr-309	135	46	entity	entity	NOUN
ftr-309	135	47	or	or	CCONJ
ftr-309	135	48	receive	receive	VERB
ftr-309	135	49	certain	certain	ADJ
ftr-309	135	50	distributions	distribution	NOUN
ftr-309	135	51	from	from	ADP
ftr-309	135	52	the	the	DET
ftr-309	135	53	entity.20	entity.20	NOUN
ftr-309	135	54	if	if	SCONJ
ftr-309	135	55	an	an	DET
ftr-309	135	56	entity	entity	NOUN
ftr-309	135	57	is	be	AUX
ftr-309	135	58	treated	treat	VERB
ftr-309	135	59	as	as	ADP
ftr-309	135	60	a	a	DET
ftr-309	135	61	partnership	partnership	NOUN
ftr-309	135	62	for	for	ADP
ftr-309	135	63	tax	tax	NOUN
ftr-309	135	64	purposes	purpose	NOUN
ftr-309	135	65	,	,	PUNCT
ftr-309	135	66	the	the	DET
ftr-309	135	67	entity	entity	NOUN
ftr-309	135	68	will	will	AUX
ftr-309	135	69	not	not	PART
ftr-309	135	70	be	be	AUX
ftr-309	135	71	subject	subject	ADJ
ftr-309	135	72	to	to	ADP
ftr-309	135	73	tax	tax	NOUN
ftr-309	135	74	.	.	PUNCT
ftr-309	136	1	instead	instead	ADV
ftr-309	136	2	,	,	PUNCT
ftr-309	136	3	any	any	DET
ftr-309	136	4	items	item	NOUN
ftr-309	136	5	of	of	ADP
ftr-309	136	6	new	new	ADJ
ftr-309	136	7	-	-	PUNCT
ftr-309	136	8	path/	path/	NUM
ftr-309	136	9	(	(	PUNCT
ftr-309	136	10	"	"	PUNCT
ftr-309	136	11	as	as	SCONJ
ftr-309	136	12	washington	washington	PROPN
ftr-309	136	13	grapples	grapple	VERB
ftr-309	136	14	with	with	ADP
ftr-309	136	15	the	the	DET
ftr-309	136	16	country	country	NOUN
ftr-309	136	17	's	's	PART
ftr-309	136	18	fiscal	fiscal	ADJ
ftr-309	136	19	woes	woe	NOUN
ftr-309	136	20	,	,	PUNCT
ftr-309	136	21	the	the	DET
ftr-309	136	22	private	private	ADJ
ftr-309	136	23	equity	equity	NOUN
ftr-309	136	24	industry	industry	NOUN
ftr-309	136	25	is	be	AUX
ftr-309	136	26	grudgingly	grudgingly	ADV
ftr-309	136	27	facing	face	VERB
ftr-309	136	28	a	a	DET
ftr-309	136	29	new	new	ADJ
ftr-309	136	30	reality	reality	NOUN
ftr-309	136	31	:	:	PUNCT
ftr-309	136	32	its	its	PRON
ftr-309	136	33	long	long	ADV
ftr-309	136	34	-	-	PUNCT
ftr-309	136	35	held	hold	VERB
ftr-309	136	36	tax	tax	NOUN
ftr-309	136	37	advantages	advantage	NOUN
ftr-309	136	38	are	be	AUX
ftr-309	136	39	likely	likely	ADJ
ftr-309	136	40	to	to	PART
ftr-309	136	41	disappear	disappear	VERB
ftr-309	136	42	.	.	PUNCT
ftr-309	137	1	"	"	PUNCT
ftr-309	137	2	)	)	PUNCT
ftr-309	137	3	.	.	PUNCT
ftr-309	138	1	16	16	NUM
ftr-309	138	2	.	.	PUNCT
ftr-309	138	3	i.r.c	i.r.c	NOUN
ftr-309	138	4	.	.	PUNCT
ftr-309	139	1	§	§	PROPN
ftr-309	139	2	7704(a	7704(a	PROPN
ftr-309	139	3	)	)	PUNCT
ftr-309	140	1	(	(	PUNCT
ftr-309	140	2	providing	provide	VERB
ftr-309	140	3	general	general	ADJ
ftr-309	140	4	rule	rule	NOUN
ftr-309	140	5	that	that	PRON
ftr-309	140	6	publicly	publicly	ADV
ftr-309	140	7	traded	trade	VERB
ftr-309	140	8	entities	entity	NOUN
ftr-309	140	9	must	must	AUX
ftr-309	140	10	be	be	AUX
ftr-309	140	11	treated	treat	VERB
ftr-309	140	12	as	as	ADP
ftr-309	140	13	corporations	corporation	NOUN
ftr-309	140	14	)	)	PUNCT
ftr-309	140	15	;	;	PUNCT
ftr-309	140	16	i.r.c	i.r.c	NOUN
ftr-309	140	17	.	.	PUNCT
ftr-309	141	1	§	§	PROPN
ftr-309	141	2	7704(c	7704(c	X
ftr-309	141	3	)	)	PUNCT
ftr-309	141	4	(	(	PUNCT
ftr-309	141	5	providing	provide	VERB
ftr-309	141	6	exception	exception	NOUN
ftr-309	141	7	)	)	PUNCT
ftr-309	141	8	.	.	PUNCT
ftr-309	142	1	17	17	NUM
ftr-309	142	2	.	.	PUNCT
ftr-309	142	3	i.r.c	i.r.c	NOUN
ftr-309	142	4	.	.	PUNCT
ftr-309	143	1	§	§	PROPN
ftr-309	143	2	7704(d	7704(d	PROPN
ftr-309	143	3	)	)	PUNCT
ftr-309	143	4	.	.	PUNCT
ftr-309	144	1	18	18	NUM
ftr-309	144	2	.	.	X
ftr-309	145	1	see	see	VERB
ftr-309	145	2	infra	infra	NOUN
ftr-309	145	3	note	note	VERB
ftr-309	145	4	164	164	NUM
ftr-309	145	5	.	.	PUNCT
ftr-309	146	1	19	19	NUM
ftr-309	146	2	.	.	PUNCT
ftr-309	146	3	see	see	VERB
ftr-309	146	4	i.r.c	i.r.c	NOUN
ftr-309	146	5	.	.	PUNCT
ftr-309	147	1	§	§	PROPN
ftr-309	147	2	11	11	NUM
ftr-309	147	3	.	.	NOUN
ftr-309	147	4	20	20	NUM
ftr-309	147	5	.	.	PUNCT
ftr-309	148	1	see	see	VERB
ftr-309	148	2	i.r.c	i.r.c	NOUN
ftr-309	148	3	.	.	PUNCT
ftr-309	149	1	§	§	PROPN
ftr-309	149	2	301	301	NUM
ftr-309	149	3	(	(	PUNCT
ftr-309	149	4	addressing	address	VERB
ftr-309	149	5	distributions	distribution	NOUN
ftr-309	149	6	from	from	ADP
ftr-309	149	7	corporations	corporation	NOUN
ftr-309	149	8	)	)	PUNCT
ftr-309	149	9	;	;	PUNCT
ftr-309	149	10	i.r.c	i.r.c	NOUN
ftr-309	149	11	.	.	PUNCT
ftr-309	150	1	§	§	PROPN
ftr-309	150	2	1001	1001	NUM
ftr-309	150	3	(	(	PUNCT
ftr-309	150	4	regarding	regard	VERB
ftr-309	150	5	gain	gain	NOUN
ftr-309	150	6	from	from	ADP
ftr-309	150	7	sale	sale	NOUN
ftr-309	150	8	of	of	ADP
ftr-309	150	9	ownership	ownership	NOUN
ftr-309	150	10	interests	interest	NOUN
ftr-309	150	11	)	)	PUNCT
ftr-309	150	12	.	.	PUNCT
ftr-309	151	1	159	159	NUM
ftr-309	151	2	florida	florida	PROPN
ftr-309	151	3	tax	tax	NOUN
ftr-309	151	4	review	review	NOUN
ftr-309	151	5	tax	tax	NOUN
ftr-309	151	6	income	income	NOUN
ftr-309	151	7	,	,	PUNCT
ftr-309	151	8	gain	gain	NOUN
ftr-309	151	9	,	,	PUNCT
ftr-309	151	10	loss	loss	NOUN
ftr-309	151	11	,	,	PUNCT
ftr-309	151	12	or	or	CCONJ
ftr-309	151	13	deduction	deduction	NOUN
ftr-309	151	14	recognized	recognize	VERB
ftr-309	151	15	by	by	ADP
ftr-309	151	16	the	the	DET
ftr-309	151	17	entity	entity	NOUN
ftr-309	151	18	will	will	AUX
ftr-309	151	19	be	be	AUX
ftr-309	151	20	passed	pass	VERB
ftr-309	151	21	through	through	ADP
ftr-309	151	22	to	to	ADP
ftr-309	151	23	the	the	DET
ftr-309	151	24	entity	entity	NOUN
ftr-309	151	25	's	's	PART
ftr-309	151	26	owners	owner	NOUN
ftr-309	151	27	for	for	SCONJ
ftr-309	151	28	the	the	DET
ftr-309	151	29	owners	owner	NOUN
ftr-309	151	30	to	to	PART
ftr-309	151	31	take	take	VERB
ftr-309	151	32	into	into	ADP
ftr-309	151	33	account	account	NOUN
ftr-309	151	34	directly	directly	ADV
ftr-309	151	35	when	when	SCONJ
ftr-309	151	36	computing	compute	VERB
ftr-309	151	37	their	their	PRON
ftr-309	151	38	own	own	ADJ
ftr-309	151	39	taxable	taxable	ADJ
ftr-309	151	40	income.2	income.2	PROPN
ftr-309	151	41	1	1	NUM
ftr-309	151	42	thus	thus	ADV
ftr-309	151	43	,	,	PUNCT
ftr-309	151	44	treatment	treatment	NOUN
ftr-309	151	45	as	as	ADP
ftr-309	151	46	a	a	DET
ftr-309	151	47	corporation	corporation	NOUN
ftr-309	151	48	generally	generally	ADV
ftr-309	151	49	involves	involve	VERB
ftr-309	151	50	two	two	NUM
ftr-309	151	51	levels	level	NOUN
ftr-309	151	52	of	of	ADP
ftr-309	151	53	tax	tax	NOUN
ftr-309	151	54	both	both	CCONJ
ftr-309	151	55	an	an	DET
ftr-309	151	56	entity	entity	NOUN
ftr-309	151	57	-	-	PUNCT
ftr-309	151	58	level	level	NOUN
ftr-309	151	59	tax	tax	NOUN
ftr-309	151	60	and	and	CCONJ
ftr-309	151	61	an	an	DET
ftr-309	151	62	owner	owner	NOUN
ftr-309	151	63	-	-	PUNCT
ftr-309	151	64	level	level	NOUN
ftr-309	151	65	tax.22	tax.22	NOUN
ftr-309	151	66	by	by	ADP
ftr-309	151	67	contrast	contrast	NOUN
ftr-309	151	68	,	,	PUNCT
ftr-309	151	69	treatment	treatment	NOUN
ftr-309	151	70	as	as	ADP
ftr-309	151	71	a	a	DET
ftr-309	151	72	partnership	partnership	NOUN
ftr-309	151	73	involves	involve	VERB
ftr-309	151	74	only	only	ADV
ftr-309	151	75	one	one	NUM
ftr-309	151	76	level	level	NOUN
ftr-309	151	77	of	of	ADP
ftr-309	151	78	tax	tax	NOUN
ftr-309	151	79	,	,	PUNCT
ftr-309	151	80	the	the	DET
ftr-309	151	81	tax	tax	NOUN
ftr-309	151	82	imposed	impose	VERB
ftr-309	151	83	at	at	ADP
ftr-309	151	84	the	the	DET
ftr-309	151	85	owner	owner	NOUN
ftr-309	151	86	level.23	level.23	PROPN
ftr-309	151	87	blackstone	blackstone	PROPN
ftr-309	151	88	group	group	PROPN
ftr-309	151	89	lp	lp	PROPN
ftr-309	151	90	earns	earn	VERB
ftr-309	151	91	management	management	NOUN
ftr-309	151	92	fees	fee	NOUN
ftr-309	151	93	and	and	CCONJ
ftr-309	151	94	carried	carry	VERB
ftr-309	151	95	interest	interest	NOUN
ftr-309	151	96	income	income	NOUN
ftr-309	151	97	received	receive	VERB
ftr-309	151	98	by	by	ADP
ftr-309	151	99	the	the	DET
ftr-309	151	100	blackstone	blackstone	NOUN
ftr-309	151	101	firm	firm	NOUN
ftr-309	151	102	from	from	ADP
ftr-309	151	103	the	the	DET
ftr-309	151	104	funds	fund	NOUN
ftr-309	151	105	that	that	PRON
ftr-309	151	106	it	it	PRON
ftr-309	151	107	sponsors	sponsor	VERB
ftr-309	151	108	.	.	PUNCT
ftr-309	152	1	management	management	NOUN
ftr-309	152	2	fees	fee	NOUN
ftr-309	152	3	are	be	AUX
ftr-309	152	4	not	not	PART
ftr-309	152	5	qualifying	qualify	VERB
ftr-309	152	6	income	income	NOUN
ftr-309	152	7	.	.	PUNCT
ftr-309	153	1	carried	carry	VERB
ftr-309	153	2	interest	interest	NOUN
ftr-309	153	3	income	income	NOUN
ftr-309	153	4	may	may	AUX
ftr-309	153	5	be	be	AUX
ftr-309	153	6	,	,	PUNCT
ftr-309	153	7	in	in	ADP
ftr-309	153	8	part	part	NOUN
ftr-309	153	9	,	,	PUNCT
ftr-309	153	10	qualifying	qualify	VERB
ftr-309	153	11	income	income	NOUN
ftr-309	153	12	but	but	CCONJ
ftr-309	153	13	also	also	ADV
ftr-309	153	14	,	,	PUNCT
ftr-309	153	15	in	in	ADP
ftr-309	153	16	part	part	NOUN
ftr-309	153	17	,	,	PUNCT
ftr-309	153	18	non	non	ADJ
ftr-309	153	19	-	-	ADJ
ftr-309	153	20	qualifying	qualifying	ADJ
ftr-309	153	21	income	income	NOUN
ftr-309	153	22	depending	depend	VERB
ftr-309	153	23	on	on	ADP
ftr-309	153	24	the	the	DET
ftr-309	153	25	types	type	NOUN
ftr-309	153	26	of	of	ADP
ftr-309	153	27	activities	activity	NOUN
ftr-309	153	28	in	in	ADP
ftr-309	153	29	which	which	PRON
ftr-309	153	30	the	the	DET
ftr-309	153	31	blackstone	blackstone	NOUN
ftr-309	153	32	firm	firm	NOUN
ftr-309	153	33	's	's	PART
ftr-309	153	34	funds	fund	NOUN
ftr-309	153	35	engage	engage	VERB
ftr-309	153	36	,	,	PUNCT
ftr-309	153	37	as	as	SCONJ
ftr-309	153	38	discussed	discuss	VERB
ftr-309	153	39	in	in	ADP
ftr-309	153	40	more	more	ADJ
ftr-309	153	41	detail	detail	NOUN
ftr-309	153	42	below.24	below.24	NOUN
ftr-309	153	43	thus	thus	ADV
ftr-309	153	44	,	,	PUNCT
ftr-309	153	45	without	without	ADP
ftr-309	153	46	complex	complex	ADJ
ftr-309	153	47	structuring	structuring	NOUN
ftr-309	153	48	,	,	PUNCT
ftr-309	153	49	blackstone	blackstone	NOUN
ftr-309	153	50	group	group	NOUN
ftr-309	153	51	lp	lp	PROPN
ftr-309	153	52	would	would	AUX
ftr-309	153	53	earn	earn	VERB
ftr-309	153	54	some	some	DET
ftr-309	153	55	qualifying	qualify	VERB
ftr-309	153	56	income	income	NOUN
ftr-309	153	57	(	(	PUNCT
ftr-309	153	58	a	a	DET
ftr-309	153	59	portion	portion	NOUN
ftr-309	153	60	of	of	ADP
ftr-309	153	61	its	its	PRON
ftr-309	153	62	carried	carry	VERB
ftr-309	153	63	interest	interest	NOUN
ftr-309	153	64	)	)	PUNCT
ftr-309	153	65	and	and	CCONJ
ftr-309	153	66	some	some	DET
ftr-309	153	67	non	non	ADJ
ftr-309	153	68	-	-	ADJ
ftr-309	153	69	qualifying	qualifying	ADJ
ftr-309	153	70	income	income	NOUN
ftr-309	153	71	(	(	PUNCT
ftr-309	153	72	management	management	NOUN
ftr-309	153	73	fees	fee	NOUN
ftr-309	153	74	and	and	CCONJ
ftr-309	153	75	a	a	DET
ftr-309	153	76	portion	portion	NOUN
ftr-309	153	77	of	of	ADP
ftr-309	153	78	its	its	PRON
ftr-309	153	79	carried	carry	VERB
ftr-309	153	80	interest	interest	NOUN
ftr-309	153	81	)	)	PUNCT
ftr-309	153	82	.	.	PUNCT
ftr-309	154	1	if	if	SCONJ
ftr-309	154	2	,	,	PUNCT
ftr-309	154	3	in	in	ADP
ftr-309	154	4	a	a	DET
ftr-309	154	5	given	give	VERB
ftr-309	154	6	year	year	NOUN
ftr-309	154	7	,	,	PUNCT
ftr-309	154	8	less	less	ADJ
ftr-309	154	9	than	than	ADP
ftr-309	154	10	90	90	NUM
ftr-309	154	11	percent	percent	NOUN
ftr-309	154	12	of	of	ADP
ftr-309	154	13	blackstone	blackstone	NOUN
ftr-309	154	14	group	group	PROPN
ftr-309	154	15	lp	lp	PROPN
ftr-309	154	16	's	's	PART
ftr-309	154	17	total	total	ADJ
ftr-309	154	18	gross	gross	ADJ
ftr-309	154	19	income	income	NOUN
ftr-309	154	20	was	be	AUX
ftr-309	154	21	qualifying	qualify	VERB
ftr-309	154	22	income	income	NOUN
ftr-309	154	23	,	,	PUNCT
ftr-309	154	24	blackstone	blackstone	NOUN
ftr-309	154	25	group	group	PROPN
ftr-309	154	26	lp	lp	PROPN
ftr-309	154	27	would	would	AUX
ftr-309	154	28	be	be	AUX
ftr-309	154	29	treated	treat	VERB
ftr-309	154	30	as	as	ADP
ftr-309	154	31	a	a	DET
ftr-309	154	32	corporation	corporation	NOUN
ftr-309	154	33	in	in	ADP
ftr-309	154	34	that	that	DET
ftr-309	154	35	year	year	NOUN
ftr-309	154	36	and	and	CCONJ
ftr-309	154	37	in	in	ADP
ftr-309	154	38	all	all	DET
ftr-309	154	39	future	future	ADJ
ftr-309	154	40	years.2	years.2	PROPN
ftr-309	154	41	5	5	NUM
ftr-309	154	42	judging	judge	VERB
ftr-309	154	43	from	from	ADP
ftr-309	154	44	its	its	PRON
ftr-309	154	45	actual	actual	ADJ
ftr-309	154	46	historical	historical	ADJ
ftr-309	154	47	earnings	earning	NOUN
ftr-309	154	48	,	,	PUNCT
ftr-309	154	49	blackstone	blackstone	NOUN
ftr-309	154	50	group	group	NOUN
ftr-309	154	51	lp	lp	PROPN
ftr-309	154	52	likely	likely	ADV
ftr-309	154	53	would	would	AUX
ftr-309	154	54	fail	fail	VERB
ftr-309	154	55	this	this	DET
ftr-309	154	56	90	90	NUM
ftr-309	154	57	percent	percent	NOUN
ftr-309	154	58	test	test	NOUN
ftr-309	154	59	but	but	CCONJ
ftr-309	154	60	for	for	ADP
ftr-309	154	61	the	the	DET
ftr-309	154	62	tax	tax	NOUN
ftr-309	154	63	structuring	structuring	NOUN
ftr-309	154	64	it	it	PRON
ftr-309	154	65	uses	use	VERB
ftr-309	154	66	.	.	PUNCT
ftr-309	155	1	for	for	ADP
ftr-309	155	2	example	example	NOUN
ftr-309	155	3	,	,	PUNCT
ftr-309	155	4	according	accord	VERB
ftr-309	155	5	to	to	ADP
ftr-309	155	6	its	its	PRON
ftr-309	155	7	most	most	ADV
ftr-309	155	8	recent	recent	ADJ
ftr-309	155	9	annual	annual	ADJ
ftr-309	155	10	report	report	NOUN
ftr-309	155	11	,	,	PUNCT
ftr-309	155	12	in	in	ADP
ftr-309	155	13	2011	2011	NUM
ftr-309	155	14	,	,	PUNCT
ftr-309	155	15	blackstone	blackstone	NOUN
ftr-309	155	16	group	group	NOUN
ftr-309	155	17	lp	lp	PROPN
ftr-309	155	18	earned	earn	VERB
ftr-309	155	19	$	$	SYM
ftr-309	155	20	1.8	1.8	NUM
ftr-309	155	21	billion	billion	NUM
ftr-309	155	22	26	26	NUM
ftr-309	155	23	in	in	ADP
ftr-309	155	24	management	management	NOUN
ftr-309	155	25	fees	fee	NOUN
ftr-309	155	26	and	and	CCONJ
ftr-309	155	27	$	$	SYM
ftr-309	155	28	1.2	1.2	NUM
ftr-309	155	29	billion	billion	NUM
ftr-309	155	30	in	in	ADP
ftr-309	155	31	carried	carry	VERB
ftr-309	155	32	interest	interest	NOUN
ftr-309	155	33	income	income	NOUN
ftr-309	155	34	.	.	PUNCT
ftr-309	156	1	as	as	ADP
ftr-309	156	2	a	a	DET
ftr-309	156	3	result	result	NOUN
ftr-309	156	4	,	,	PUNCT
ftr-309	156	5	even	even	ADV
ftr-309	156	6	assuming	assume	VERB
ftr-309	156	7	all	all	PRON
ftr-309	156	8	carried	carry	VERB
ftr-309	156	9	interest	interest	NOUN
ftr-309	156	10	income	income	NOUN
ftr-309	156	11	was	be	AUX
ftr-309	156	12	qualifying	qualify	VERB
ftr-309	156	13	income	income	NOUN
ftr-309	156	14	,	,	PUNCT
ftr-309	156	15	blackstone	blackstone	NOUN
ftr-309	156	16	group	group	NOUN
ftr-309	156	17	lp	lp	PROPN
ftr-309	156	18	would	would	AUX
ftr-309	156	19	have	have	AUX
ftr-309	156	20	failed	fail	VERB
ftr-309	156	21	the	the	DET
ftr-309	156	22	90	90	NUM
ftr-309	156	23	percent	percent	NOUN
ftr-309	156	24	gross	gross	ADJ
ftr-309	156	25	income	income	NOUN
ftr-309	156	26	test	test	NOUN
ftr-309	156	27	because	because	SCONJ
ftr-309	156	28	only	only	ADV
ftr-309	156	29	40	40	NUM
ftr-309	156	30	percent	percent	NOUN
ftr-309	156	31	(	(	PUNCT
ftr-309	156	32	or	or	CCONJ
ftr-309	156	33	$	$	SYM
ftr-309	156	34	1.2	1.2	NUM
ftr-309	156	35	billion	billion	NUM
ftr-309	156	36	divided	divide	VERB
ftr-309	156	37	by	by	ADP
ftr-309	156	38	(	(	PUNCT
ftr-309	156	39	$	$	SYM
ftr-309	156	40	1.2	1.2	NUM
ftr-309	156	41	billion	billion	NUM
ftr-309	156	42	plus	plus	CCONJ
ftr-309	156	43	$	$	SYM
ftr-309	156	44	1.8	1.8	NUM
ftr-309	156	45	billion	billion	NUM
ftr-309	156	46	)	)	PUNCT
ftr-309	156	47	)	)	PUNCT
ftr-309	156	48	of	of	ADP
ftr-309	156	49	its	its	PRON
ftr-309	156	50	gross	gross	ADJ
ftr-309	156	51	income	income	NOUN
ftr-309	156	52	would	would	AUX
ftr-309	156	53	have	have	AUX
ftr-309	156	54	been	be	AUX
ftr-309	156	55	qualifying	qualify	VERB
ftr-309	156	56	income	income	NOUN
ftr-309	156	57	.	.	PUNCT
ftr-309	157	1	if	if	SCONJ
ftr-309	157	2	blackstone	blackstone	NOUN
ftr-309	157	3	group	group	PROPN
ftr-309	157	4	lp	lp	NOUN
ftr-309	157	5	were	be	AUX
ftr-309	157	6	treated	treat	VERB
ftr-309	157	7	as	as	ADP
ftr-309	157	8	a	a	DET
ftr-309	157	9	corporation	corporation	NOUN
ftr-309	157	10	,	,	PUNCT
ftr-309	157	11	it	it	PRON
ftr-309	157	12	would	would	AUX
ftr-309	157	13	be	be	AUX
ftr-309	157	14	required	require	VERB
ftr-309	157	15	to	to	PART
ftr-309	157	16	pay	pay	VERB
ftr-309	157	17	corporate	corporate	ADJ
ftr-309	157	18	-	-	PUNCT
ftr-309	157	19	level	level	NOUN
ftr-309	157	20	tax	tax	NOUN
ftr-309	157	21	on	on	ADP
ftr-309	157	22	all	all	PRON
ftr-309	157	23	of	of	ADP
ftr-309	157	24	its	its	PRON
ftr-309	157	25	income	income	NOUN
ftr-309	157	26	(	(	PUNCT
ftr-309	157	27	qualifying	qualify	VERB
ftr-309	157	28	income	income	NOUN
ftr-309	157	29	and	and	CCONJ
ftr-309	157	30	non	non	ADJ
ftr-309	157	31	-	-	ADJ
ftr-309	157	32	qualifying	qualifying	ADJ
ftr-309	157	33	income	income	NOUN
ftr-309	157	34	)	)	PUNCT
ftr-309	157	35	.	.	PUNCT
ftr-309	158	1	to	to	PART
ftr-309	158	2	avoid	avoid	VERB
ftr-309	158	3	this	this	DET
ftr-309	158	4	result	result	NOUN
ftr-309	158	5	,	,	PUNCT
ftr-309	158	6	blackstone	blackstone	NOUN
ftr-309	158	7	group	group	PROPN
ftr-309	158	8	lp	lp	PROPN
ftr-309	158	9	uses	use	VERB
ftr-309	158	10	the	the	DET
ftr-309	158	11	structure	structure	NOUN
ftr-309	158	12	shown	show	VERB
ftr-309	158	13	in	in	ADP
ftr-309	158	14	figure	figure	NOUN
ftr-309	158	15	1	1	NUM
ftr-309	158	16	27below	27below	NUM
ftr-309	158	17	to	to	PART
ftr-309	158	18	ensure	ensure	VERB
ftr-309	158	19	that	that	SCONJ
ftr-309	158	20	it	it	PRON
ftr-309	158	21	meets	meet	VERB
ftr-309	158	22	the	the	DET
ftr-309	158	23	90	90	NUM
ftr-309	158	24	percent	percent	NOUN
ftr-309	158	25	gross	gross	ADJ
ftr-309	158	26	income	income	NOUN
ftr-309	158	27	test	test	NOUN
ftr-309	158	28	in	in	ADP
ftr-309	158	29	all	all	DET
ftr-309	158	30	years	year	NOUN
ftr-309	158	31	.	.	PUNCT
ftr-309	159	1	21	21	NUM
ftr-309	159	2	.	.	X
ftr-309	159	3	see	see	VERB
ftr-309	159	4	i.r.c	i.r.c	NOUN
ftr-309	159	5	.	.	PUNCT
ftr-309	160	1	§	§	PROPN
ftr-309	160	2	701	701	NUM
ftr-309	160	3	.	.	PUNCT
ftr-309	160	4	22	22	NUM
ftr-309	160	5	.	.	PUNCT
ftr-309	161	1	see	see	VERB
ftr-309	161	2	supra	supra	PROPN
ftr-309	161	3	notes	note	NOUN
ftr-309	161	4	19	19	NUM
ftr-309	161	5	and	and	CCONJ
ftr-309	161	6	20	20	NUM
ftr-309	161	7	and	and	CCONJ
ftr-309	161	8	accompanying	accompany	VERB
ftr-309	161	9	text	text	NOUN
ftr-309	161	10	.	.	PUNCT
ftr-309	162	1	23	23	NUM
ftr-309	162	2	.	.	PUNCT
ftr-309	163	1	see	see	VERB
ftr-309	163	2	supra	supra	PROPN
ftr-309	163	3	note	note	PROPN
ftr-309	163	4	21	21	NUM
ftr-309	163	5	and	and	CCONJ
ftr-309	163	6	accompanying	accompany	VERB
ftr-309	163	7	text	text	NOUN
ftr-309	163	8	.	.	PUNCT
ftr-309	164	1	24	24	NUM
ftr-309	164	2	.	.	PUNCT
ftr-309	165	1	see	see	VERB
ftr-309	165	2	infra	infra	NOUN
ftr-309	165	3	part	part	NOUN
ftr-309	165	4	ii.e	ii.e	ADV
ftr-309	165	5	.	.	PUNCT
ftr-309	166	1	25	25	NUM
ftr-309	166	2	.	.	PUNCT
ftr-309	166	3	i.r.c	i.r.c	NOUN
ftr-309	166	4	.	.	PUNCT
ftr-309	167	1	§	§	PROPN
ftr-309	167	2	7704(c	7704(c	NOUN
ftr-309	167	3	)	)	PUNCT
ftr-309	167	4	.	.	PUNCT
ftr-309	168	1	this	this	PRON
ftr-309	168	2	is	be	AUX
ftr-309	168	3	true	true	ADJ
ftr-309	168	4	assuming	assume	VERB
ftr-309	168	5	that	that	SCONJ
ftr-309	168	6	blackstone	blackstone	NOUN
ftr-309	168	7	group	group	NOUN
ftr-309	168	8	lp	lp	PROPN
ftr-309	168	9	would	would	AUX
ftr-309	168	10	not	not	PART
ftr-309	168	11	be	be	AUX
ftr-309	168	12	entitled	entitle	VERB
ftr-309	168	13	to	to	ADP
ftr-309	168	14	relief	relief	NOUN
ftr-309	168	15	for	for	ADP
ftr-309	168	16	inadvertent	inadvertent	ADJ
ftr-309	168	17	failure	failure	NOUN
ftr-309	168	18	to	to	PART
ftr-309	168	19	comply	comply	VERB
ftr-309	168	20	with	with	ADP
ftr-309	168	21	the	the	DET
ftr-309	168	22	90	90	NUM
ftr-309	168	23	percent	percent	NOUN
ftr-309	168	24	gross	gross	ADJ
ftr-309	168	25	income	income	NOUN
ftr-309	168	26	test	test	NOUN
ftr-309	168	27	.	.	PUNCT
ftr-309	169	1	see	see	VERB
ftr-309	169	2	i.r.c	i.r.c	NOUN
ftr-309	169	3	.	.	PUNCT
ftr-309	170	1	§	§	PROPN
ftr-309	170	2	7704(e	7704(e	PROPN
ftr-309	170	3	)	)	PUNCT
ftr-309	171	1	(	(	PUNCT
ftr-309	171	2	describing	describe	VERB
ftr-309	171	3	such	such	ADJ
ftr-309	171	4	relief	relief	NOUN
ftr-309	171	5	)	)	PUNCT
ftr-309	171	6	.	.	PUNCT
ftr-309	172	1	26	26	NUM
ftr-309	172	2	.	.	PUNCT
ftr-309	173	1	the	the	DET
ftr-309	173	2	blackstone	blackstone	NOUN
ftr-309	173	3	group	group	NOUN
ftr-309	173	4	l.p	l.p	PROPN
ftr-309	173	5	.	.	PROPN
ftr-309	173	6	,	,	PUNCT
ftr-309	173	7	annual	annual	ADJ
ftr-309	173	8	report	report	NOUN
ftr-309	173	9	(	(	PUNCT
ftr-309	173	10	form	form	NOUN
ftr-309	173	11	10	10	NUM
ftr-309	173	12	-	-	PUNCT
ftr-309	173	13	k	k	NOUN
ftr-309	173	14	)	)	PUNCT
ftr-309	173	15	,	,	PUNCT
ftr-309	173	16	77	77	NUM
ftr-309	173	17	(	(	PUNCT
ftr-309	173	18	feb	feb	PROPN
ftr-309	173	19	.	.	PROPN
ftr-309	173	20	28	28	NUM
ftr-309	173	21	,	,	PUNCT
ftr-309	173	22	2012	2012	NUM
ftr-309	173	23	)	)	PUNCT
ftr-309	173	24	,	,	PUNCT
ftr-309	173	25	http://www.sec.gov/archives/edgar/data/1393818/000119312512085636/d23	http://www.sec.gov/archives/edgar/data/1393818/000119312512085636/d23	PROPN
ftr-309	173	26	2355dl0k.htm	2355dl0k.htm	NUM
ftr-309	173	27	.	.	PUNCT
ftr-309	173	28	27	27	NUM
ftr-309	173	29	.	.	PUNCT
ftr-309	174	1	this	this	PRON
ftr-309	174	2	is	be	AUX
ftr-309	174	3	a	a	DET
ftr-309	174	4	somewhat	somewhat	ADV
ftr-309	174	5	simplified	simplified	ADJ
ftr-309	174	6	version	version	NOUN
ftr-309	174	7	of	of	ADP
ftr-309	174	8	the	the	DET
ftr-309	174	9	actual	actual	ADJ
ftr-309	174	10	structure	structure	NOUN
ftr-309	174	11	,	,	PUNCT
ftr-309	174	12	which	which	PRON
ftr-309	174	13	can	can	AUX
ftr-309	174	14	be	be	AUX
ftr-309	174	15	seen	see	VERB
ftr-309	174	16	in	in	ADP
ftr-309	174	17	blackstone	blackstone	NOUN
ftr-309	174	18	s-1	s-1	PROPN
ftr-309	174	19	,	,	PUNCT
ftr-309	174	20	supra	supra	PROPN
ftr-309	174	21	note	note	NOUN
ftr-309	174	22	1	1	NUM
ftr-309	174	23	,	,	PUNCT
ftr-309	174	24	at	at	ADP
ftr-309	174	25	11	11	NUM
ftr-309	174	26	.	.	PUNCT
ftr-309	175	1	for	for	ADP
ftr-309	175	2	a	a	DET
ftr-309	175	3	detailed	detailed	ADJ
ftr-309	175	4	discussion	discussion	NOUN
ftr-309	175	5	of	of	ADP
ftr-309	175	6	how	how	SCONJ
ftr-309	175	7	this	this	DET
ftr-309	175	8	structure	structure	NOUN
ftr-309	175	9	is	be	AUX
ftr-309	175	10	derived	derive	VERB
ftr-309	175	11	from	from	ADP
ftr-309	175	12	the	the	DET
ftr-309	175	13	facts	fact	NOUN
ftr-309	175	14	in	in	ADP
ftr-309	175	15	blackstone	blackstone	NOUN
ftr-309	175	16	's	's	PART
ftr-309	175	17	registration	registration	NOUN
ftr-309	175	18	statement	statement	NOUN
ftr-309	175	19	,	,	PUNCT
ftr-309	175	20	see	see	VERB
ftr-309	175	21	the	the	DET
ftr-309	175	22	attached	attach	VERB
ftr-309	175	23	appendix	appendix	NOUN
ftr-309	175	24	.	.	PUNCT
ftr-309	176	1	160	160	NUM
ftr-309	177	1	[	[	X
ftr-309	177	2	vol	vol	NOUN
ftr-309	177	3	.	.	PUNCT
ftr-309	177	4	14:5	14:5	NUM
ftr-309	177	5	2013	2013	NUM
ftr-309	177	6	]	]	PUNCT
ftr-309	177	7	was	be	AUX
ftr-309	177	8	blackstone	blackstone	NOUN
ftr-309	177	9	's	's	PART
ftr-309	177	10	initial	initial	ADJ
ftr-309	177	11	public	public	ADJ
ftr-309	177	12	offering	offering	NOUN
ftr-309	177	13	too	too	ADV
ftr-309	177	14	good	good	ADJ
ftr-309	177	15	to	to	PART
ftr-309	177	16	be	be	AUX
ftr-309	177	17	true	true	ADJ
ftr-309	177	18	?	?	PUNCT
ftr-309	178	1	figure	figure	NOUN
ftr-309	178	2	1	1	NUM
ftr-309	178	3	.	.	PUNCT
ftr-309	178	4	blackstone	blackstone	NOUN
ftr-309	178	5	structure	structure	NOUN
ftr-309	178	6	simplified	simplify	VERB
ftr-309	178	7	allocation	allocation	NOUN
ftr-309	178	8	of	of	ADP
ftr-309	178	9	qualifying	qualify	VERB
ftr-309	178	10	carried	carry	VERB
ftr-309	178	11	interest	interest	NOUN
ftr-309	178	12	payment	payment	NOUN
ftr-309	178	13	of	of	ADP
ftr-309	178	14	management	management	NOUN
ftr-309	178	15	fees	fee	NOUN
ftr-309	178	16	161	161	NUM
ftr-309	178	17	allocation	allocation	NOUN
ftr-309	178	18	of	of	ADP
ftr-309	178	19	nonqualifying	nonqualifying	NOUN
ftr-309	178	20	carried	carry	VERB
ftr-309	178	21	interest	interest	NOUN
ftr-309	178	22	partnership	partnership	PROPN
ftr-309	178	23	florida	florida	PROPN
ftr-309	178	24	tax	tax	PROPN
ftr-309	178	25	review	review	NOUN
ftr-309	178	26	in	in	ADP
ftr-309	178	27	this	this	DET
ftr-309	178	28	structure	structure	NOUN
ftr-309	178	29	,	,	PUNCT
ftr-309	178	30	the	the	DET
ftr-309	178	31	underlying	underlie	VERB
ftr-309	178	32	partnership	partnership	NOUN
ftr-309	178	33	is	be	AUX
ftr-309	178	34	an	an	DET
ftr-309	178	35	entity	entity	NOUN
ftr-309	178	36	treated	treat	VERB
ftr-309	178	37	as	as	ADP
ftr-309	178	38	a	a	DET
ftr-309	178	39	partnership	partnership	NOUN
ftr-309	178	40	for	for	ADP
ftr-309	178	41	tax	tax	NOUN
ftr-309	178	42	purposes	purpose	NOUN
ftr-309	178	43	.	.	PUNCT
ftr-309	179	1	the	the	DET
ftr-309	179	2	underlying	underlie	VERB
ftr-309	179	3	partnership	partnership	NOUN
ftr-309	179	4	allocates	allocate	VERB
ftr-309	179	5	qualifying	qualify	VERB
ftr-309	179	6	carried	carry	VERB
ftr-309	179	7	interest	interest	NOUN
ftr-309	179	8	income	income	NOUN
ftr-309	179	9	directly	directly	ADV
ftr-309	179	10	to	to	ADP
ftr-309	179	11	blackstone	blackstone	NOUN
ftr-309	179	12	group	group	NOUN
ftr-309	179	13	lp.28	lp.28	NOUN
ftr-309	179	14	because	because	SCONJ
ftr-309	179	15	this	this	DET
ftr-309	179	16	income	income	NOUN
ftr-309	179	17	is	be	AUX
ftr-309	179	18	allocated	allocate	VERB
ftr-309	179	19	directly	directly	ADV
ftr-309	179	20	to	to	ADP
ftr-309	179	21	blackstone	blackstone	PROPN
ftr-309	179	22	group	group	PROPN
ftr-309	179	23	lp	lp	PROPN
ftr-309	179	24	,	,	PUNCT
ftr-309	179	25	it	it	PRON
ftr-309	179	26	retains	retain	VERB
ftr-309	179	27	its	its	PRON
ftr-309	179	28	original	original	ADJ
ftr-309	179	29	character	character	NOUN
ftr-309	179	30	,	,	PUNCT
ftr-309	179	31	and	and	CCONJ
ftr-309	179	32	,	,	PUNCT
ftr-309	179	33	thus	thus	ADV
ftr-309	179	34	,	,	PUNCT
ftr-309	179	35	all	all	DET
ftr-309	179	36	income	income	NOUN
ftr-309	179	37	blackstone	blackstone	NOUN
ftr-309	179	38	group	group	NOUN
ftr-309	179	39	lp	lp	PROPN
ftr-309	179	40	receives	receive	VERB
ftr-309	179	41	directly	directly	ADV
ftr-309	179	42	from	from	ADP
ftr-309	179	43	the	the	DET
ftr-309	179	44	underlying	underlie	VERB
ftr-309	179	45	partnership	partnership	NOUN
ftr-309	179	46	is	be	AUX
ftr-309	179	47	qualifying	qualify	VERB
ftr-309	179	48	income.29	income.29	NOUN
ftr-309	179	49	the	the	DET
ftr-309	179	50	underlying	underlie	VERB
ftr-309	179	51	partnership	partnership	NOUN
ftr-309	179	52	pays	pay	VERB
ftr-309	179	53	management	management	NOUN
ftr-309	179	54	fees	fee	NOUN
ftr-309	179	55	and	and	CCONJ
ftr-309	179	56	allocates	allocate	VERB
ftr-309	179	57	non	non	ADJ
ftr-309	179	58	-	-	ADJ
ftr-309	179	59	qualifying	qualifying	ADJ
ftr-309	179	60	carried	carry	VERB
ftr-309	179	61	interest	interest	NOUN
ftr-309	179	62	income	income	NOUN
ftr-309	179	63	to	to	ADP
ftr-309	179	64	either	either	CCONJ
ftr-309	179	65	"	"	PUNCT
ftr-309	179	66	u.s	u.s	PROPN
ftr-309	179	67	.	.	PROPN
ftr-309	179	68	subsidiary	subsidiary	NOUN
ftr-309	179	69	"	"	PUNCT
ftr-309	179	70	(	(	PUNCT
ftr-309	179	71	an	an	DET
ftr-309	179	72	entity	entity	NOUN
ftr-309	179	73	formed	form	VERB
ftr-309	179	74	in	in	ADP
ftr-309	179	75	the	the	DET
ftr-309	179	76	united	united	PROPN
ftr-309	179	77	states	states	PROPN
ftr-309	179	78	)	)	PUNCT
ftr-309	179	79	or	or	CCONJ
ftr-309	179	80	"	"	PUNCT
ftr-309	179	81	non	non	ADJ
ftr-309	179	82	-	-	ADJ
ftr-309	179	83	u.s	u.s	PROPN
ftr-309	179	84	.	.	PROPN
ftr-309	179	85	subsidiary	subsidiary	NOUN
ftr-309	179	86	"	"	PUNCT
ftr-309	179	87	(	(	PUNCT
ftr-309	179	88	an	an	DET
ftr-309	179	89	entity	entity	NOUN
ftr-309	179	90	formed	form	VERB
ftr-309	179	91	in	in	ADP
ftr-309	179	92	canada	canada	PROPN
ftr-309	179	93	)	)	PUNCT
ftr-309	179	94	.	.	PUNCT
ftr-309	180	1	30	30	NUM
ftr-309	180	2	both	both	PRON
ftr-309	180	3	of	of	ADP
ftr-309	180	4	these	these	DET
ftr-309	180	5	entities	entity	NOUN
ftr-309	180	6	are	be	AUX
ftr-309	180	7	treated	treat	VERB
ftr-309	180	8	as	as	ADP
ftr-309	180	9	corporations	corporation	NOUN
ftr-309	180	10	for	for	ADP
ftr-309	180	11	u.s	u.s	PROPN
ftr-309	180	12	.	.	PROPN
ftr-309	180	13	tax	tax	NOUN
ftr-309	180	14	purposes.3	purposes.3	NOUN
ftr-309	180	15	'	'	PUNCT
ftr-309	180	16	because	because	SCONJ
ftr-309	180	17	they	they	PRON
ftr-309	180	18	are	be	AUX
ftr-309	180	19	corporations	corporation	NOUN
ftr-309	180	20	,	,	PUNCT
ftr-309	180	21	when	when	SCONJ
ftr-309	180	22	these	these	DET
ftr-309	180	23	entities	entity	NOUN
ftr-309	180	24	distribute	distribute	VERB
ftr-309	180	25	cash	cash	NOUN
ftr-309	180	26	to	to	ADP
ftr-309	180	27	blackstone	blackstone	PROPN
ftr-309	180	28	group	group	PROPN
ftr-309	180	29	lp	lp	PROPN
ftr-309	180	30	,	,	PUNCT
ftr-309	180	31	blackstone	blackstone	NOUN
ftr-309	180	32	group	group	NOUN
ftr-309	180	33	lp	lp	PROPN
ftr-309	180	34	recognizes	recognize	VERB
ftr-309	180	35	dividend	dividend	NOUN
ftr-309	180	36	income	income	NOUN
ftr-309	180	37	or	or	CCONJ
ftr-309	180	38	capital	capital	NOUN
ftr-309	180	39	gain	gain	NOUN
ftr-309	180	40	income.3	income.3	ADP
ftr-309	180	41	2	2	NUM
ftr-309	180	42	dividend	dividend	NOUN
ftr-309	180	43	income	income	NOUN
ftr-309	180	44	and	and	CCONJ
ftr-309	180	45	capital	capital	NOUN
ftr-309	180	46	gain	gain	NOUN
ftr-309	180	47	income	income	NOUN
ftr-309	180	48	are	be	AUX
ftr-309	180	49	types	type	NOUN
ftr-309	180	50	of	of	ADP
ftr-309	180	51	qualifying	qualify	VERB
ftr-309	180	52	income	income	NOUN
ftr-309	180	53	.	.	PUNCT
ftr-309	181	1	33	33	NUM
ftr-309	182	1	thus	thus	ADV
ftr-309	182	2	,	,	PUNCT
ftr-309	182	3	non	non	ADJ
ftr-309	182	4	-	-	ADJ
ftr-309	182	5	qualifying	qualifying	ADJ
ftr-309	182	6	income	income	NOUN
ftr-309	182	7	allocated	allocate	VERB
ftr-309	182	8	or	or	CCONJ
ftr-309	182	9	paid	pay	VERB
ftr-309	182	10	to	to	ADP
ftr-309	182	11	u.s	u.s	PROPN
ftr-309	182	12	.	.	PROPN
ftr-309	182	13	subsidiary	subsidiary	NOUN
ftr-309	182	14	and	and	CCONJ
ftr-309	182	15	non	non	ADJ
ftr-309	182	16	-	-	ADJ
ftr-309	182	17	u.s	u.s	PROPN
ftr-309	182	18	.	.	PROPN
ftr-309	182	19	subsidiary	subsidiary	NOUN
ftr-309	182	20	is	be	AUX
ftr-309	182	21	converted	convert	VERB
ftr-309	182	22	into	into	ADP
ftr-309	182	23	qualifying	qualify	VERB
ftr-309	182	24	income	income	NOUN
ftr-309	182	25	before	before	SCONJ
ftr-309	182	26	it	it	PRON
ftr-309	182	27	reaches	reach	VERB
ftr-309	182	28	blackstone	blackstone	PROPN
ftr-309	182	29	group	group	PROPN
ftr-309	182	30	lp	lp	PROPN
ftr-309	182	31	,	,	PUNCT
ftr-309	182	32	which	which	PRON
ftr-309	182	33	is	be	AUX
ftr-309	182	34	the	the	DET
ftr-309	182	35	only	only	ADJ
ftr-309	182	36	reason	reason	NOUN
ftr-309	182	37	nonqualifying	nonqualifying	NOUN
ftr-309	182	38	income	income	NOUN
ftr-309	182	39	is	be	AUX
ftr-309	182	40	allocated	allocate	VERB
ftr-309	182	41	or	or	CCONJ
ftr-309	182	42	paid	pay	VERB
ftr-309	182	43	to	to	ADP
ftr-309	182	44	these	these	DET
ftr-309	182	45	entities.34	entities.34	NOUN
ftr-309	182	46	as	as	ADP
ftr-309	182	47	a	a	DET
ftr-309	182	48	result	result	NOUN
ftr-309	182	49	,	,	PUNCT
ftr-309	182	50	blackstone	blackstone	NOUN
ftr-309	182	51	group	group	NOUN
ftr-309	182	52	lp	lp	PROPN
ftr-309	182	53	earns	earn	VERB
ftr-309	182	54	100	100	NUM
ftr-309	182	55	percent	percent	NOUN
ftr-309	182	56	qualifying	qualify	VERB
ftr-309	182	57	income	income	NOUN
ftr-309	182	58	because	because	SCONJ
ftr-309	182	59	its	its	PRON
ftr-309	182	60	income	income	NOUN
ftr-309	182	61	consists	consist	VERB
ftr-309	182	62	of	of	ADP
ftr-309	182	63	qualifying	qualify	VERB
ftr-309	182	64	income	income	NOUN
ftr-309	182	65	received	receive	VERB
ftr-309	182	66	directly	directly	ADV
ftr-309	182	67	from	from	ADP
ftr-309	182	68	the	the	DET
ftr-309	182	69	underlying	underlie	VERB
ftr-309	182	70	partnership	partnership	NOUN
ftr-309	182	71	,	,	PUNCT
ftr-309	182	72	dividend	dividend	NOUN
ftr-309	182	73	income	income	NOUN
ftr-309	182	74	received	receive	VERB
ftr-309	182	75	from	from	ADP
ftr-309	182	76	u.s	u.s	PROPN
ftr-309	182	77	.	.	PROPN
ftr-309	182	78	subsidiary	subsidiary	NOUN
ftr-309	182	79	or	or	CCONJ
ftr-309	182	80	non	non	ADJ
ftr-309	182	81	-	-	ADJ
ftr-309	182	82	u.s	u.s	PROPN
ftr-309	182	83	.	.	PROPN
ftr-309	182	84	subsidiary	subsidiary	NOUN
ftr-309	182	85	,	,	PUNCT
ftr-309	182	86	and	and	CCONJ
ftr-309	182	87	capital	capital	NOUN
ftr-309	182	88	gain	gain	NOUN
ftr-309	182	89	income	income	NOUN
ftr-309	182	90	received	receive	VERB
ftr-309	182	91	from	from	ADP
ftr-309	182	92	u.s	u.s	PROPN
ftr-309	182	93	.	.	PROPN
ftr-309	182	94	subsidiary	subsidiary	NOUN
ftr-309	182	95	or	or	CCONJ
ftr-309	182	96	nonu.s	nonu.s	PROPN
ftr-309	182	97	.	.	PUNCT
ftr-309	183	1	subsidiary.35	subsidiary.35	PROPN
ftr-309	183	2	consequently	consequently	ADV
ftr-309	183	3	,	,	PUNCT
ftr-309	183	4	regardless	regardless	ADV
ftr-309	183	5	of	of	ADP
ftr-309	183	6	the	the	DET
ftr-309	183	7	mix	mix	NOUN
ftr-309	183	8	of	of	ADP
ftr-309	183	9	carried	carry	VERB
ftr-309	183	10	interest	interest	NOUN
ftr-309	183	11	and	and	CCONJ
ftr-309	183	12	management	management	NOUN
ftr-309	183	13	fees	fee	NOUN
ftr-309	183	14	received	receive	VERB
ftr-309	183	15	in	in	ADP
ftr-309	183	16	any	any	DET
ftr-309	183	17	particular	particular	ADJ
ftr-309	183	18	year	year	NOUN
ftr-309	183	19	,	,	PUNCT
ftr-309	183	20	blackstone	blackstone	NOUN
ftr-309	183	21	group	group	PROPN
ftr-309	183	22	lp	lp	PROPN
ftr-309	183	23	will	will	AUX
ftr-309	183	24	always	always	ADV
ftr-309	183	25	qualify	qualify	VERB
ftr-309	183	26	for	for	ADP
ftr-309	183	27	the	the	DET
ftr-309	183	28	exception	exception	NOUN
ftr-309	183	29	from	from	ADP
ftr-309	183	30	corporate	corporate	ADJ
ftr-309	183	31	tax	tax	NOUN
ftr-309	183	32	treatment	treatment	NOUN
ftr-309	183	33	because	because	SCONJ
ftr-309	183	34	at	at	ADV
ftr-309	183	35	least	least	ADV
ftr-309	183	36	90	90	NUM
ftr-309	183	37	percent	percent	NOUN
ftr-309	183	38	of	of	ADP
ftr-309	183	39	its	its	PRON
ftr-309	183	40	income	income	NOUN
ftr-309	183	41	(	(	PUNCT
ftr-309	183	42	more	more	ADV
ftr-309	183	43	specifically	specifically	ADV
ftr-309	183	44	,	,	PUNCT
ftr-309	183	45	100	100	NUM
ftr-309	183	46	percent	percent	NOUN
ftr-309	183	47	of	of	ADP
ftr-309	183	48	its	its	PRON
ftr-309	183	49	income	income	NOUN
ftr-309	183	50	)	)	PUNCT
ftr-309	183	51	will	will	AUX
ftr-309	183	52	be	be	AUX
ftr-309	183	53	qualifying	qualify	VERB
ftr-309	183	54	income	income	NOUN
ftr-309	183	55	.	.	PUNCT
ftr-309	184	1	36	36	NUM
ftr-309	184	2	finally	finally	ADV
ftr-309	184	3	,	,	PUNCT
ftr-309	184	4	u.s	u.s	PROPN
ftr-309	184	5	.	.	PROPN
ftr-309	184	6	subsidiary	subsidiary	NOUN
ftr-309	184	7	will	will	AUX
ftr-309	184	8	pay	pay	VERB
ftr-309	184	9	corporate	corporate	ADJ
ftr-309	184	10	-	-	PUNCT
ftr-309	184	11	level	level	NOUN
ftr-309	184	12	28	28	NUM
ftr-309	184	13	.	.	PUNCT
ftr-309	185	1	see	see	VERB
ftr-309	185	2	blackstone	blackstone	PROPN
ftr-309	185	3	s-1	s-1	PROPN
ftr-309	185	4	,	,	PUNCT
ftr-309	185	5	supra	supra	PROPN
ftr-309	185	6	note	note	NOUN
ftr-309	185	7	1	1	NUM
ftr-309	185	8	,	,	PUNCT
ftr-309	185	9	at	at	ADP
ftr-309	185	10	202	202	NUM
ftr-309	185	11	-	-	PUNCT
ftr-309	185	12	04	04	NUM
ftr-309	185	13	.	.	PUNCT
ftr-309	186	1	see	see	VERB
ftr-309	186	2	also	also	ADV
ftr-309	186	3	infra	infra	VERB
ftr-309	186	4	appendix	appendix	NOUN
ftr-309	186	5	.	.	PUNCT
ftr-309	187	1	29	29	NUM
ftr-309	187	2	.	.	PUNCT
ftr-309	187	3	"	"	PUNCT
ftr-309	187	4	character	character	NOUN
ftr-309	187	5	"	"	PUNCT
ftr-309	187	6	of	of	ADP
ftr-309	187	7	income	income	NOUN
ftr-309	187	8	refers	refer	VERB
ftr-309	187	9	to	to	ADP
ftr-309	187	10	the	the	DET
ftr-309	187	11	type	type	NOUN
ftr-309	187	12	of	of	ADP
ftr-309	187	13	income	income	NOUN
ftr-309	187	14	.	.	PUNCT
ftr-309	188	1	for	for	ADP
ftr-309	188	2	instance	instance	NOUN
ftr-309	188	3	,	,	PUNCT
ftr-309	188	4	if	if	SCONJ
ftr-309	188	5	the	the	DET
ftr-309	188	6	underlying	underlie	VERB
ftr-309	188	7	partnership	partnership	NOUN
ftr-309	188	8	earned	earn	VERB
ftr-309	188	9	dividend	dividend	NOUN
ftr-309	188	10	income	income	NOUN
ftr-309	188	11	and	and	CCONJ
ftr-309	188	12	allocated	allocate	VERB
ftr-309	188	13	such	such	ADJ
ftr-309	188	14	income	income	NOUN
ftr-309	188	15	to	to	ADP
ftr-309	188	16	blackstone	blackstone	PROPN
ftr-309	188	17	group	group	PROPN
ftr-309	188	18	lp	lp	PROPN
ftr-309	188	19	,	,	PUNCT
ftr-309	188	20	blackstone	blackstone	NOUN
ftr-309	188	21	group	group	NOUN
ftr-309	188	22	lp	lp	PROPN
ftr-309	188	23	would	would	AUX
ftr-309	188	24	recognize	recognize	VERB
ftr-309	188	25	dividend	dividend	NOUN
ftr-309	188	26	income	income	NOUN
ftr-309	188	27	.	.	PUNCT
ftr-309	189	1	for	for	ADP
ftr-309	189	2	further	further	ADJ
ftr-309	189	3	discussion	discussion	NOUN
ftr-309	189	4	of	of	ADP
ftr-309	189	5	the	the	DET
ftr-309	189	6	underlying	underlie	VERB
ftr-309	189	7	partnership	partnership	NOUN
ftr-309	189	8	's	's	PART
ftr-309	189	9	allocations	allocation	NOUN
ftr-309	189	10	,	,	PUNCT
ftr-309	189	11	see	see	VERB
ftr-309	189	12	infra	infra	NOUN
ftr-309	189	13	part	part	NOUN
ftr-309	189	14	ii.e	ii.e	ADV
ftr-309	189	15	.	.	PUNCT
ftr-309	190	1	30	30	NUM
ftr-309	190	2	.	.	PUNCT
ftr-309	191	1	blackstone	blackstone	NOUN
ftr-309	191	2	s-1	s-1	PROPN
ftr-309	191	3	,	,	PUNCT
ftr-309	191	4	supra	supra	PROPN
ftr-309	191	5	note	note	NOUN
ftr-309	191	6	1	1	NUM
ftr-309	191	7	,	,	PUNCT
ftr-309	191	8	at	at	ADP
ftr-309	191	9	202	202	NUM
ftr-309	191	10	-	-	PUNCT
ftr-309	191	11	04	04	NUM
ftr-309	191	12	.	.	PUNCT
ftr-309	192	1	see	see	VERB
ftr-309	192	2	also	also	ADV
ftr-309	192	3	appendix	appendix	VERB
ftr-309	192	4	.	.	PUNCT
ftr-309	193	1	31	31	NUM
ftr-309	193	2	.	.	PUNCT
ftr-309	194	1	blackstone	blackstone	NOUN
ftr-309	194	2	s-1	s-1	PROPN
ftr-309	194	3	,	,	PUNCT
ftr-309	194	4	supra	supra	PROPN
ftr-309	194	5	note	note	NOUN
ftr-309	194	6	1	1	NUM
ftr-309	194	7	,	,	PUNCT
ftr-309	194	8	at	at	ADP
ftr-309	194	9	202	202	NUM
ftr-309	194	10	-	-	SYM
ftr-309	194	11	04	04	NUM
ftr-309	194	12	(	(	PUNCT
ftr-309	194	13	"	"	PUNCT
ftr-309	194	14	u.s	u.s	PROPN
ftr-309	194	15	.	.	PROPN
ftr-309	194	16	subsidiary	subsidiary	NOUN
ftr-309	194	17	"	"	PUNCT
ftr-309	194	18	in	in	ADP
ftr-309	194	19	the	the	DET
ftr-309	194	20	simplified	simplified	ADJ
ftr-309	194	21	structure	structure	NOUN
ftr-309	194	22	is	be	AUX
ftr-309	194	23	the	the	DET
ftr-309	194	24	counterpart	counterpart	NOUN
ftr-309	194	25	to	to	ADP
ftr-309	194	26	"	"	PUNCT
ftr-309	194	27	blackstone	blackstone	NOUN
ftr-309	194	28	holdings	holding	NOUN
ftr-309	194	29	i	i	PROPN
ftr-309	194	30	gp	gp	PROPN
ftr-309	194	31	inc	inc	PROPN
ftr-309	194	32	.	.	PUNCT
ftr-309	194	33	"	"	PUNCT
ftr-309	194	34	and	and	CCONJ
ftr-309	194	35	"	"	PUNCT
ftr-309	194	36	blackstone	blackstone	PROPN
ftr-309	194	37	holdings	holdings	PROPN
ftr-309	194	38	ii	ii	PROPN
ftr-309	194	39	gp	gp	PROPN
ftr-309	194	40	inc	inc	PROPN
ftr-309	194	41	.	.	PUNCT
ftr-309	194	42	"	"	PUNCT
ftr-309	195	1	in	in	ADP
ftr-309	195	2	the	the	DET
ftr-309	195	3	actual	actual	ADJ
ftr-309	195	4	structure	structure	NOUN
ftr-309	195	5	,	,	PUNCT
ftr-309	195	6	and	and	CCONJ
ftr-309	195	7	"	"	PUNCT
ftr-309	195	8	non	non	ADJ
ftr-309	195	9	-	-	ADJ
ftr-309	195	10	u.s	u.s	PROPN
ftr-309	195	11	.	.	PROPN
ftr-309	195	12	subsidiary	subsidiary	NOUN
ftr-309	195	13	"	"	PUNCT
ftr-309	195	14	in	in	ADP
ftr-309	195	15	the	the	DET
ftr-309	195	16	simplified	simplified	ADJ
ftr-309	195	17	structure	structure	NOUN
ftr-309	195	18	is	be	AUX
ftr-309	195	19	the	the	DET
ftr-309	195	20	counterpart	counterpart	NOUN
ftr-309	195	21	to	to	ADP
ftr-309	195	22	"	"	PUNCT
ftr-309	195	23	blackstone	blackstone	NOUN
ftr-309	195	24	holdings	holding	NOUN
ftr-309	195	25	v	v	NOUN
ftr-309	195	26	gp	gp	NOUN
ftr-309	196	1	lp	lp	NOUN
ftr-309	196	2	"	"	PUNCT
ftr-309	196	3	in	in	ADP
ftr-309	196	4	the	the	DET
ftr-309	196	5	actual	actual	ADJ
ftr-309	196	6	structure	structure	NOUN
ftr-309	196	7	.	.	PUNCT
ftr-309	196	8	)	)	PUNCT
ftr-309	196	9	.	.	PUNCT
ftr-309	197	1	32	32	NUM
ftr-309	197	2	.	.	PUNCT
ftr-309	197	3	see	see	VERB
ftr-309	197	4	i.r.c	i.r.c	NOUN
ftr-309	197	5	.	.	PUNCT
ftr-309	198	1	§	§	PROPN
ftr-309	198	2	301	301	NUM
ftr-309	198	3	.	.	PUNCT
ftr-309	198	4	33	33	NUM
ftr-309	198	5	.	.	PUNCT
ftr-309	198	6	i.r.c	i.r.c	NOUN
ftr-309	198	7	.	.	PUNCT
ftr-309	199	1	§	§	PROPN
ftr-309	199	2	7704(d	7704(d	PROPN
ftr-309	199	3	)	)	PUNCT
ftr-309	199	4	.	.	PUNCT
ftr-309	200	1	34	34	NUM
ftr-309	200	2	.	.	PUNCT
ftr-309	200	3	see	see	VERB
ftr-309	200	4	i	i	PRON
ftr-309	200	5	d.	d.	PROPN
ftr-309	200	6	35	35	NUM
ftr-309	200	7	.	.	PUNCT
ftr-309	201	1	see	see	VERB
ftr-309	201	2	supra	supra	PROPN
ftr-309	201	3	notes	note	NOUN
ftr-309	201	4	29	29	NUM
ftr-309	201	5	,	,	PUNCT
ftr-309	201	6	34	34	NUM
ftr-309	201	7	and	and	CCONJ
ftr-309	201	8	accompanying	accompany	VERB
ftr-309	201	9	text	text	NOUN
ftr-309	201	10	.	.	PUNCT
ftr-309	202	1	36	36	NUM
ftr-309	202	2	.	.	PUNCT
ftr-309	202	3	see	see	VERB
ftr-309	202	4	blackstone	blackstone	PROPN
ftr-309	202	5	s-1	s-1	PROPN
ftr-309	202	6	,	,	PUNCT
ftr-309	202	7	supra	supra	PROPN
ftr-309	202	8	note	note	NOUN
ftr-309	202	9	1	1	NUM
ftr-309	202	10	,	,	PUNCT
ftr-309	202	11	at	at	ADP
ftr-309	202	12	202	202	NUM
ftr-309	202	13	(	(	PUNCT
ftr-309	202	14	"	"	PUNCT
ftr-309	202	15	we	we	PRON
ftr-309	202	16	intend	intend	VERB
ftr-309	202	17	to	to	PART
ftr-309	202	18	manage	manage	VERB
ftr-309	202	19	our	our	PRON
ftr-309	202	20	affairs	affair	NOUN
ftr-309	202	21	so	so	SCONJ
ftr-309	202	22	that	that	SCONJ
ftr-309	202	23	we	we	PRON
ftr-309	202	24	will	will	AUX
ftr-309	202	25	meet	meet	VERB
ftr-309	202	26	the	the	DET
ftr-309	202	27	[	[	NOUN
ftr-309	202	28	90	90	NUM
ftr-309	202	29	percent	percent	NOUN
ftr-309	202	30	gross	gross	NOUN
ftr-309	202	31	]	]	PUNCT
ftr-309	202	32	income	income	NOUN
ftr-309	202	33	exception	exception	NOUN
ftr-309	202	34	in	in	ADP
ftr-309	202	35	each	each	DET
ftr-309	202	36	taxable	taxable	ADJ
ftr-309	202	37	year	year	NOUN
ftr-309	202	38	.	.	PUNCT
ftr-309	203	1	we	we	PRON
ftr-309	203	2	believe	believe	VERB
ftr-309	203	3	we	we	PRON
ftr-309	203	4	will	will	AUX
ftr-309	203	5	be	be	AUX
ftr-309	203	6	treated	treat	VERB
ftr-309	203	7	as	as	ADP
ftr-309	203	8	a	a	DET
ftr-309	203	9	partnership	partnership	NOUN
ftr-309	203	10	and	and	CCONJ
ftr-309	203	11	not	not	PART
ftr-309	203	12	as	as	ADP
ftr-309	203	13	a	a	DET
ftr-309	203	14	corporation	corporation	NOUN
ftr-309	203	15	for	for	ADP
ftr-309	203	16	u.s	u.s	PROPN
ftr-309	203	17	.	.	PROPN
ftr-309	204	1	[	[	X
ftr-309	204	2	vol	vol	NOUN
ftr-309	204	3	.	.	PUNCT
ftr-309	205	1	14:5162	14:5162	NUM
ftr-309	206	1	2013	2013	NUM
ftr-309	206	2	]	]	PUNCT
ftr-309	206	3	was	be	AUX
ftr-309	206	4	blackstone	blackstone	NOUN
ftr-309	206	5	's	's	PART
ftr-309	206	6	initial	initial	ADJ
ftr-309	206	7	public	public	ADJ
ftr-309	206	8	offering	offering	NOUN
ftr-309	206	9	too	too	ADV
ftr-309	206	10	good	good	ADJ
ftr-309	206	11	to	to	PART
ftr-309	206	12	be	be	AUX
ftr-309	206	13	true	true	ADJ
ftr-309	206	14	?	?	PUNCT
ftr-309	207	1	tax	tax	NOUN
ftr-309	207	2	on	on	ADP
ftr-309	207	3	income	income	NOUN
ftr-309	207	4	it	it	PRON
ftr-309	207	5	earns	earn	VERB
ftr-309	207	6	,	,	PUNCT
ftr-309	207	7	so	so	ADV
ftr-309	207	8	corporate	corporate	ADJ
ftr-309	207	9	-	-	PUNCT
ftr-309	207	10	level	level	NOUN
ftr-309	207	11	tax	tax	NOUN
ftr-309	207	12	is	be	AUX
ftr-309	207	13	not	not	PART
ftr-309	207	14	completely	completely	ADV
ftr-309	207	15	avoided	avoid	VERB
ftr-309	207	16	.	.	PUNCT
ftr-309	208	1	however	however	ADV
ftr-309	208	2	,	,	PUNCT
ftr-309	208	3	although	although	SCONJ
ftr-309	208	4	u.s	u.s	PROPN
ftr-309	208	5	.	.	PROPN
ftr-309	208	6	subsidiary	subsidiary	NOUN
ftr-309	208	7	pays	pay	VERB
ftr-309	208	8	corporate	corporate	ADJ
ftr-309	208	9	-	-	PUNCT
ftr-309	208	10	level	level	NOUN
ftr-309	208	11	tax	tax	NOUN
ftr-309	208	12	on	on	ADP
ftr-309	208	13	the	the	DET
ftr-309	208	14	nonqualifying	nonqualifying	NOUN
ftr-309	208	15	income	income	NOUN
ftr-309	208	16	it	it	PRON
ftr-309	208	17	earns	earn	VERB
ftr-309	208	18	,	,	PUNCT
ftr-309	208	19	no	no	DET
ftr-309	208	20	entity	entity	NOUN
ftr-309	208	21	in	in	ADP
ftr-309	208	22	the	the	DET
ftr-309	208	23	structure	structure	NOUN
ftr-309	208	24	pays	pay	VERB
ftr-309	208	25	corporate	corporate	ADJ
ftr-309	208	26	-	-	PUNCT
ftr-309	208	27	level	level	NOUN
ftr-309	208	28	tax	tax	NOUN
ftr-309	208	29	on	on	ADP
ftr-309	208	30	the	the	DET
ftr-309	208	31	qualifying	qualify	VERB
ftr-309	208	32	income	income	NOUN
ftr-309	208	33	allocated	allocate	VERB
ftr-309	208	34	directly	directly	ADV
ftr-309	208	35	to	to	ADP
ftr-309	208	36	blackstone	blackstone	PROPN
ftr-309	208	37	group	group	PROPN
ftr-309	208	38	lp	lp	PROPN
ftr-309	208	39	,	,	PUNCT
ftr-309	208	40	and	and	CCONJ
ftr-309	208	41	non	non	ADJ
ftr-309	208	42	-	-	ADJ
ftr-309	208	43	u.s	u.s	PROPN
ftr-309	208	44	.	.	PROPN
ftr-309	208	45	subsidiary	subsidiary	NOUN
ftr-309	208	46	pays	pay	VERB
ftr-309	208	47	no	no	DET
ftr-309	208	48	corporate	corporate	ADJ
ftr-309	208	49	-	-	PUNCT
ftr-309	208	50	level	level	NOUN
ftr-309	208	51	tax	tax	NOUN
ftr-309	208	52	on	on	ADP
ftr-309	208	53	the	the	DET
ftr-309	208	54	non	non	ADJ
ftr-309	208	55	-	-	ADJ
ftr-309	208	56	qualifying	qualifying	ADJ
ftr-309	208	57	income	income	NOUN
ftr-309	208	58	allocated	allocate	VERB
ftr-309	208	59	to	to	ADP
ftr-309	208	60	it	it	PRON
ftr-309	208	61	,	,	PUNCT
ftr-309	208	62	as	as	SCONJ
ftr-309	208	63	discussed	discuss	VERB
ftr-309	208	64	in	in	ADP
ftr-309	208	65	more	more	ADJ
ftr-309	208	66	detail	detail	NOUN
ftr-309	208	67	below	below	ADV
ftr-309	208	68	.	.	PUNCT
ftr-309	209	1	8	8	NUM
ftr-309	209	2	by	by	ADP
ftr-309	209	3	contrast	contrast	NOUN
ftr-309	209	4	,	,	PUNCT
ftr-309	209	5	if	if	SCONJ
ftr-309	209	6	blackstone	blackstone	NOUN
ftr-309	209	7	group	group	NOUN
ftr-309	209	8	lp	lp	PROPN
ftr-309	209	9	did	do	AUX
ftr-309	209	10	not	not	PART
ftr-309	209	11	employ	employ	VERB
ftr-309	209	12	this	this	DET
ftr-309	209	13	structure	structure	NOUN
ftr-309	209	14	and	and	CCONJ
ftr-309	209	15	were	be	AUX
ftr-309	209	16	treated	treat	VERB
ftr-309	209	17	as	as	ADP
ftr-309	209	18	a	a	DET
ftr-309	209	19	corporation	corporation	NOUN
ftr-309	209	20	for	for	ADP
ftr-309	209	21	tax	tax	NOUN
ftr-309	209	22	purposes	purpose	NOUN
ftr-309	209	23	,	,	PUNCT
ftr-309	209	24	it	it	PRON
ftr-309	209	25	would	would	AUX
ftr-309	209	26	be	be	AUX
ftr-309	209	27	subject	subject	ADJ
ftr-309	209	28	to	to	ADP
ftr-309	209	29	corporate	corporate	ADJ
ftr-309	209	30	-	-	PUNCT
ftr-309	209	31	level	level	NOUN
ftr-309	209	32	tax	tax	NOUN
ftr-309	209	33	on	on	ADP
ftr-309	209	34	all	all	DET
ftr-309	209	35	income	income	NOUN
ftr-309	209	36	(	(	PUNCT
ftr-309	209	37	qualifying	qualify	VERB
ftr-309	209	38	income	income	NOUN
ftr-309	209	39	and	and	CCONJ
ftr-309	209	40	non	non	ADJ
ftr-309	209	41	-	-	ADJ
ftr-309	209	42	qualifying	qualifying	ADJ
ftr-309	209	43	income	income	NOUN
ftr-309	209	44	)	)	PUNCT
ftr-309	209	45	.	.	PUNCT
ftr-309	210	1	9	9	NUM
ftr-309	210	2	a	a	DET
ftr-309	210	3	complete	complete	ADJ
ftr-309	210	4	understanding	understanding	NOUN
ftr-309	210	5	of	of	ADP
ftr-309	210	6	this	this	DET
ftr-309	210	7	structure	structure	NOUN
ftr-309	210	8	requires	require	VERB
ftr-309	210	9	some	some	DET
ftr-309	210	10	knowledge	knowledge	NOUN
ftr-309	210	11	of	of	ADP
ftr-309	210	12	multiple	multiple	ADJ
ftr-309	210	13	areas	area	NOUN
ftr-309	210	14	of	of	ADP
ftr-309	210	15	tax	tax	NOUN
ftr-309	210	16	law	law	NOUN
ftr-309	210	17	.	.	PUNCT
ftr-309	211	1	in	in	ADP
ftr-309	211	2	turn	turn	NOUN
ftr-309	211	3	,	,	PUNCT
ftr-309	211	4	this	this	DET
ftr-309	211	5	section	section	NOUN
ftr-309	211	6	will	will	AUX
ftr-309	211	7	discuss	discuss	VERB
ftr-309	211	8	each	each	DET
ftr-309	211	9	necessary	necessary	ADJ
ftr-309	211	10	building	building	NOUN
ftr-309	211	11	block	block	NOUN
ftr-309	211	12	and	and	CCONJ
ftr-309	211	13	then	then	ADV
ftr-309	211	14	conclude	conclude	VERB
ftr-309	211	15	by	by	ADP
ftr-309	211	16	illustrating	illustrate	VERB
ftr-309	211	17	how	how	SCONJ
ftr-309	211	18	all	all	PRON
ftr-309	211	19	of	of	ADP
ftr-309	211	20	the	the	DET
ftr-309	211	21	building	building	NOUN
ftr-309	211	22	blocks	block	NOUN
ftr-309	211	23	come	come	VERB
ftr-309	211	24	together	together	ADV
ftr-309	211	25	in	in	ADP
ftr-309	211	26	the	the	DET
ftr-309	211	27	structure	structure	NOUN
ftr-309	211	28	used	use	VERB
ftr-309	211	29	by	by	ADP
ftr-309	211	30	blackstone	blackstone	PROPN
ftr-309	211	31	group	group	PROPN
ftr-309	211	32	lp	lp	PROPN
ftr-309	211	33	.	.	PUNCT
ftr-309	212	1	a.	a.	PROPN
ftr-309	212	2	publicly	publicly	ADV
ftr-309	212	3	traded	trade	VERB
ftr-309	212	4	partnership	partnership	NOUN
ftr-309	212	5	rules	rule	NOUN
ftr-309	212	6	although	although	SCONJ
ftr-309	212	7	many	many	ADJ
ftr-309	212	8	business	business	NOUN
ftr-309	212	9	entities	entity	NOUN
ftr-309	212	10	can	can	AUX
ftr-309	212	11	elect	elect	VERB
ftr-309	212	12	to	to	PART
ftr-309	212	13	be	be	AUX
ftr-309	212	14	treated	treat	VERB
ftr-309	212	15	as	as	ADP
ftr-309	212	16	partnerships	partnership	NOUN
ftr-309	212	17	or	or	CCONJ
ftr-309	212	18	corporations	corporation	NOUN
ftr-309	212	19	for	for	ADP
ftr-309	212	20	tax	tax	NOUN
ftr-309	212	21	purposes	purpose	NOUN
ftr-309	212	22	,	,	PUNCT
ftr-309	212	23	certain	certain	ADJ
ftr-309	212	24	entities	entity	NOUN
ftr-309	212	25	must	must	AUX
ftr-309	212	26	be	be	AUX
ftr-309	212	27	treated	treat	VERB
ftr-309	212	28	as	as	ADP
ftr-309	212	29	corporations	corporation	NOUN
ftr-309	212	30	.	.	PUNCT
ftr-309	213	1	4	4	NUM
ftr-309	213	2	0	0	NUM
ftr-309	213	3	for	for	ADP
ftr-309	213	4	example	example	NOUN
ftr-309	213	5	,	,	PUNCT
ftr-309	213	6	entities	entity	NOUN
ftr-309	213	7	that	that	PRON
ftr-309	213	8	are	be	AUX
ftr-309	213	9	publicly	publicly	ADV
ftr-309	213	10	traded	trade	VERB
ftr-309	213	11	typically	typically	ADV
ftr-309	213	12	must	must	AUX
ftr-309	213	13	be	be	AUX
ftr-309	213	14	treated	treat	VERB
ftr-309	213	15	as	as	ADP
ftr-309	213	16	corporations	corporation	NOUN
ftr-309	213	17	for	for	ADP
ftr-309	213	18	tax	tax	NOUN
ftr-309	213	19	purposes	purpose	NOUN
ftr-309	213	20	.	.	PUNCT
ftr-309	214	1	4	4	NUM
ftr-309	214	2	'	'	PART
ftr-309	214	3	an	an	DET
ftr-309	214	4	entity	entity	NOUN
ftr-309	214	5	that	that	PRON
ftr-309	214	6	is	be	AUX
ftr-309	214	7	listed	list	VERB
ftr-309	214	8	on	on	ADP
ftr-309	214	9	an	an	DET
ftr-309	214	10	established	establish	VERB
ftr-309	214	11	securities	security	NOUN
ftr-309	214	12	exchange	exchange	NOUN
ftr-309	214	13	,	,	PUNCT
ftr-309	214	14	like	like	ADP
ftr-309	214	15	the	the	DET
ftr-309	214	16	new	new	PROPN
ftr-309	214	17	york	york	PROPN
ftr-309	214	18	stock	stock	PROPN
ftr-309	214	19	exchange	exchange	PROPN
ftr-309	214	20	,	,	PUNCT
ftr-309	214	21	is	be	AUX
ftr-309	214	22	publicly	publicly	ADV
ftr-309	214	23	traded.42	traded.42	NOUN
ftr-309	214	24	thus	thus	ADV
ftr-309	214	25	,	,	PUNCT
ftr-309	214	26	blackstone	blackstone	NOUN
ftr-309	214	27	group	group	PROPN
ftr-309	214	28	lp	lp	PROPN
ftr-309	214	29	is	be	AUX
ftr-309	214	30	publicly	publicly	ADV
ftr-309	214	31	traded	trade	VERB
ftr-309	214	32	and	and	CCONJ
ftr-309	214	33	would	would	AUX
ftr-309	214	34	fall	fall	VERB
ftr-309	214	35	within	within	ADP
ftr-309	214	36	the	the	DET
ftr-309	214	37	general	general	ADJ
ftr-309	214	38	rule	rule	NOUN
ftr-309	214	39	mandating	mandate	VERB
ftr-309	214	40	corporate	corporate	ADJ
ftr-309	214	41	tax	tax	NOUN
ftr-309	214	42	treatment	treatment	NOUN
ftr-309	214	43	but	but	CCONJ
ftr-309	214	44	for	for	ADP
ftr-309	214	45	the	the	DET
ftr-309	214	46	fact	fact	NOUN
ftr-309	214	47	that	that	SCONJ
ftr-309	214	48	it	it	PRON
ftr-309	214	49	is	be	AUX
ftr-309	214	50	structured	structure	VERB
ftr-309	214	51	to	to	PART
ftr-309	214	52	qualify	qualify	VERB
ftr-309	214	53	for	for	ADP
ftr-309	214	54	an	an	DET
ftr-309	214	55	exception	exception	NOUN
ftr-309	214	56	from	from	ADP
ftr-309	214	57	this	this	DET
ftr-309	214	58	general	general	ADJ
ftr-309	214	59	rule.43	rule.43	ADJ
ftr-309	214	60	federal	federal	ADJ
ftr-309	214	61	income	income	NOUN
ftr-309	214	62	tax	tax	NOUN
ftr-309	214	63	purposes	purpose	NOUN
ftr-309	214	64	.	.	PUNCT
ftr-309	215	1	simpson	simpson	PROPN
ftr-309	215	2	thacher	thacher	PROPN
ftr-309	215	3	&	&	CCONJ
ftr-309	215	4	bartlett	bartlett	PROPN
ftr-309	215	5	llp	llp	PROPN
ftr-309	215	6	will	will	AUX
ftr-309	215	7	provide	provide	VERB
ftr-309	215	8	an	an	DET
ftr-309	215	9	opinion	opinion	NOUN
ftr-309	215	10	to	to	ADP
ftr-309	215	11	us	we	PRON
ftr-309	215	12	based	base	VERB
ftr-309	215	13	on	on	ADP
ftr-309	215	14	factual	factual	ADJ
ftr-309	215	15	statements	statement	NOUN
ftr-309	215	16	and	and	CCONJ
ftr-309	215	17	representations	representation	NOUN
ftr-309	215	18	made	make	VERB
ftr-309	215	19	by	by	ADP
ftr-309	215	20	us	we	PRON
ftr-309	215	21	,	,	PUNCT
ftr-309	215	22	including	include	VERB
ftr-309	215	23	statements	statement	NOUN
ftr-309	215	24	and	and	CCONJ
ftr-309	215	25	representations	representation	NOUN
ftr-309	215	26	as	as	ADP
ftr-309	215	27	to	to	ADP
ftr-309	215	28	the	the	DET
ftr-309	215	29	manner	manner	NOUN
ftr-309	215	30	in	in	ADP
ftr-309	215	31	which	which	PRON
ftr-309	215	32	we	we	PRON
ftr-309	215	33	intend	intend	VERB
ftr-309	215	34	to	to	PART
ftr-309	215	35	manage	manage	VERB
ftr-309	215	36	our	our	PRON
ftr-309	215	37	affairs	affair	NOUN
ftr-309	215	38	and	and	CCONJ
ftr-309	215	39	the	the	DET
ftr-309	215	40	composition	composition	NOUN
ftr-309	215	41	of	of	ADP
ftr-309	215	42	our	our	PRON
ftr-309	215	43	income	income	NOUN
ftr-309	215	44	,	,	PUNCT
ftr-309	215	45	that	that	SCONJ
ftr-309	215	46	we	we	PRON
ftr-309	215	47	will	will	AUX
ftr-309	215	48	be	be	AUX
ftr-309	215	49	treated	treat	VERB
ftr-309	215	50	as	as	ADP
ftr-309	215	51	a	a	DET
ftr-309	215	52	partnership	partnership	NOUN
ftr-309	215	53	and	and	CCONJ
ftr-309	215	54	not	not	PART
ftr-309	215	55	as	as	ADP
ftr-309	215	56	an	an	DET
ftr-309	215	57	association	association	NOUN
ftr-309	215	58	or	or	CCONJ
ftr-309	215	59	publicly	publicly	ADV
ftr-309	215	60	traded	trade	VERB
ftr-309	215	61	partnership	partnership	NOUN
ftr-309	215	62	(	(	PUNCT
ftr-309	215	63	within	within	ADP
ftr-309	215	64	the	the	DET
ftr-309	215	65	meaning	meaning	NOUN
ftr-309	215	66	of	of	ADP
ftr-309	215	67	section	section	NOUN
ftr-309	215	68	7704	7704	NUM
ftr-309	215	69	of	of	ADP
ftr-309	215	70	the	the	DET
ftr-309	215	71	code	code	NOUN
ftr-309	215	72	)	)	PUNCT
ftr-309	215	73	subject	subject	NOUN
ftr-309	215	74	to	to	ADP
ftr-309	215	75	tax	tax	NOUN
ftr-309	215	76	as	as	ADP
ftr-309	215	77	a	a	DET
ftr-309	215	78	corporation	corporation	NOUN
ftr-309	215	79	for	for	ADP
ftr-309	215	80	u.s	u.s	PROPN
ftr-309	215	81	.	.	PROPN
ftr-309	215	82	federal	federal	ADJ
ftr-309	215	83	income	income	NOUN
ftr-309	215	84	tax	tax	NOUN
ftr-309	215	85	purposes	purpose	NOUN
ftr-309	215	86	.	.	PUNCT
ftr-309	215	87	"	"	PUNCT
ftr-309	215	88	)	)	PUNCT
ftr-309	215	89	.	.	PUNCT
ftr-309	216	1	37	37	NUM
ftr-309	216	2	.	.	PUNCT
ftr-309	217	1	however	however	ADV
ftr-309	217	2	,	,	PUNCT
ftr-309	217	3	the	the	DET
ftr-309	217	4	structure	structure	NOUN
ftr-309	217	5	may	may	AUX
ftr-309	217	6	also	also	ADV
ftr-309	217	7	be	be	AUX
ftr-309	217	8	designed	design	VERB
ftr-309	217	9	to	to	PART
ftr-309	217	10	reduce	reduce	VERB
ftr-309	217	11	the	the	DET
ftr-309	217	12	amount	amount	NOUN
ftr-309	217	13	of	of	ADP
ftr-309	217	14	taxable	taxable	ADJ
ftr-309	217	15	income	income	NOUN
ftr-309	217	16	recognized	recognize	VERB
ftr-309	217	17	by	by	ADP
ftr-309	217	18	u.s	u.s	PROPN
ftr-309	217	19	.	.	PROPN
ftr-309	217	20	subsidiary	subsidiary	NOUN
ftr-309	217	21	.	.	PUNCT
ftr-309	218	1	see	see	VERB
ftr-309	218	2	infra	infra	NOUN
ftr-309	218	3	part	part	NOUN
ftr-309	218	4	ii.c	ii.c	VERB
ftr-309	218	5	.	.	PUNCT
ftr-309	219	1	38	38	NUM
ftr-309	219	2	.	.	PUNCT
ftr-309	220	1	see	see	VERB
ftr-309	220	2	infra	infra	NOUN
ftr-309	220	3	part	part	VERB
ftr-309	220	4	ii.d	ii.d	PRON
ftr-309	220	5	.	.	PUNCT
ftr-309	221	1	39	39	NUM
ftr-309	221	2	.	.	PUNCT
ftr-309	222	1	see	see	VERB
ftr-309	222	2	supra	supra	PROPN
ftr-309	222	3	notes	note	VERB
ftr-309	222	4	26	26	NUM
ftr-309	222	5	-	-	SYM
ftr-309	222	6	27	27	NUM
ftr-309	222	7	and	and	CCONJ
ftr-309	222	8	accompanying	accompany	VERB
ftr-309	222	9	text	text	NOUN
ftr-309	222	10	.	.	PUNCT
ftr-309	223	1	40	40	NUM
ftr-309	223	2	.	.	PUNCT
ftr-309	223	3	regs	regs	PROPN
ftr-309	223	4	.	.	PUNCT
ftr-309	224	1	§	§	PROPN
ftr-309	224	2	§	§	ADJ
ftr-309	224	3	301.7701	301.7701	NUM
ftr-309	224	4	-	-	SYM
ftr-309	224	5	3(a	3(a	NUM
ftr-309	224	6	)	)	PUNCT
ftr-309	224	7	(	(	PUNCT
ftr-309	224	8	providing	provide	VERB
ftr-309	224	9	ability	ability	NOUN
ftr-309	224	10	to	to	PART
ftr-309	224	11	elect	elect	VERB
ftr-309	224	12	tax	tax	NOUN
ftr-309	224	13	classification	classification	NOUN
ftr-309	224	14	to	to	ADP
ftr-309	224	15	many	many	ADJ
ftr-309	224	16	entities	entity	NOUN
ftr-309	224	17	)	)	PUNCT
ftr-309	224	18	;	;	PUNCT
ftr-309	224	19	301.7701	301.7701	NUM
ftr-309	224	20	-	-	SYM
ftr-309	224	21	2(b)(1	2(b)(1	NUM
ftr-309	224	22	)	)	PUNCT
ftr-309	224	23	,	,	PUNCT
ftr-309	224	24	(	(	PUNCT
ftr-309	224	25	388	388	NUM
ftr-309	224	26	)	)	PUNCT
ftr-309	224	27	(	(	PUNCT
ftr-309	224	28	describing	describe	VERB
ftr-309	224	29	entities	entity	NOUN
ftr-309	224	30	that	that	PRON
ftr-309	224	31	must	must	AUX
ftr-309	224	32	be	be	AUX
ftr-309	224	33	treated	treat	VERB
ftr-309	224	34	as	as	ADP
ftr-309	224	35	corporations	corporation	NOUN
ftr-309	224	36	)	)	PUNCT
ftr-309	224	37	.	.	PUNCT
ftr-309	225	1	41	41	NUM
ftr-309	225	2	.	.	PUNCT
ftr-309	225	3	i.r.c	i.r.c	NOUN
ftr-309	225	4	.	.	PUNCT
ftr-309	226	1	§	§	PROPN
ftr-309	226	2	7704	7704	NUM
ftr-309	226	3	.	.	PUNCT
ftr-309	227	1	42	42	NUM
ftr-309	227	2	.	.	PUNCT
ftr-309	227	3	see	see	VERB
ftr-309	227	4	i.r.c	i.r.c	NOUN
ftr-309	227	5	.	.	PUNCT
ftr-309	228	1	§	§	PROPN
ftr-309	228	2	7704(b)(1	7704(b)(1	NOUN
ftr-309	228	3	)	)	PUNCT
ftr-309	228	4	.	.	PUNCT
ftr-309	229	1	a	a	DET
ftr-309	229	2	partnership	partnership	NOUN
ftr-309	229	3	will	will	AUX
ftr-309	229	4	also	also	ADV
ftr-309	229	5	be	be	AUX
ftr-309	229	6	publicly	publicly	ADV
ftr-309	229	7	traded	trade	VERB
ftr-309	229	8	if	if	SCONJ
ftr-309	229	9	interests	interest	NOUN
ftr-309	229	10	in	in	ADP
ftr-309	229	11	the	the	DET
ftr-309	229	12	partnership	partnership	NOUN
ftr-309	229	13	are	be	AUX
ftr-309	229	14	traded	trade	VERB
ftr-309	229	15	on	on	ADP
ftr-309	229	16	a	a	DET
ftr-309	229	17	"	"	PUNCT
ftr-309	229	18	secondary	secondary	ADJ
ftr-309	229	19	market	market	NOUN
ftr-309	229	20	(	(	PUNCT
ftr-309	229	21	or	or	CCONJ
ftr-309	229	22	the	the	DET
ftr-309	229	23	substantial	substantial	ADJ
ftr-309	229	24	equivalent	equivalent	NOUN
ftr-309	229	25	thereof	thereof	ADV
ftr-309	229	26	)	)	PUNCT
ftr-309	229	27	.	.	PUNCT
ftr-309	230	1	"	"	PUNCT
ftr-309	230	2	i.r.c	i.r.c	NOUN
ftr-309	230	3	.	.	PUNCT
ftr-309	231	1	§	§	PROPN
ftr-309	231	2	7704(b)(2	7704(b)(2	NOUN
ftr-309	231	3	)	)	PUNCT
ftr-309	231	4	.	.	PUNCT
ftr-309	232	1	43	43	NUM
ftr-309	232	2	.	.	PUNCT
ftr-309	233	1	see	see	VERB
ftr-309	233	2	infra	infra	NOUN
ftr-309	233	3	part	part	NOUN
ftr-309	233	4	ii.f	ii.f	NOUN
ftr-309	233	5	.	.	PUNCT
ftr-309	234	1	(	(	PUNCT
ftr-309	234	2	summarizing	summarize	VERB
ftr-309	234	3	how	how	SCONJ
ftr-309	234	4	the	the	DET
ftr-309	234	5	structuring	structuring	NOUN
ftr-309	234	6	accomplishes	accomplish	VERB
ftr-309	234	7	this	this	DET
ftr-309	234	8	objective	objective	NOUN
ftr-309	234	9	)	)	PUNCT
ftr-309	234	10	.	.	PUNCT
ftr-309	235	1	163	163	NUM
ftr-309	235	2	florida	florida	PROPN
ftr-309	235	3	tax	tax	NOUN
ftr-309	235	4	review	review	NOUN
ftr-309	235	5	regarding	regard	VERB
ftr-309	235	6	the	the	DET
ftr-309	235	7	exception	exception	NOUN
ftr-309	235	8	(	(	PUNCT
ftr-309	235	9	the	the	DET
ftr-309	235	10	"	"	PUNCT
ftr-309	235	11	90	90	NUM
ftr-309	235	12	percent	percent	NOUN
ftr-309	235	13	gross	gross	ADJ
ftr-309	235	14	income	income	NOUN
ftr-309	235	15	exception	exception	NOUN
ftr-309	235	16	"	"	PUNCT
ftr-309	235	17	)	)	PUNCT
ftr-309	235	18	,	,	PUNCT
ftr-309	235	19	publicly	publicly	ADV
ftr-309	235	20	traded	trade	VERB
ftr-309	235	21	entities	entity	NOUN
ftr-309	235	22	nevertheless	nevertheless	ADV
ftr-309	235	23	may	may	AUX
ftr-309	235	24	be	be	AUX
ftr-309	235	25	eligible	eligible	ADJ
ftr-309	235	26	for	for	ADP
ftr-309	235	27	partnership	partnership	NOUN
ftr-309	235	28	tax	tax	NOUN
ftr-309	235	29	treatment	treatment	NOUN
ftr-309	235	30	if	if	SCONJ
ftr-309	235	31	at	at	ADV
ftr-309	235	32	least	least	ADV
ftr-309	235	33	90	90	NUM
ftr-309	235	34	percent	percent	NOUN
ftr-309	235	35	of	of	ADP
ftr-309	235	36	their	their	PRON
ftr-309	235	37	income	income	NOUN
ftr-309	235	38	consists	consist	VERB
ftr-309	235	39	of	of	ADP
ftr-309	235	40	certain	certain	ADJ
ftr-309	235	41	types	type	NOUN
ftr-309	235	42	of	of	ADP
ftr-309	235	43	"	"	PUNCT
ftr-309	235	44	qualifying	qualify	VERB
ftr-309	235	45	income	income	NOUN
ftr-309	235	46	.	.	PUNCT
ftr-309	235	47	"44	"44	PUNCT
ftr-309	236	1	"	"	PUNCT
ftr-309	236	2	qualifying	qualify	VERB
ftr-309	236	3	income	income	NOUN
ftr-309	236	4	"	"	PUNCT
ftr-309	236	5	includes	include	VERB
ftr-309	236	6	dividend	dividend	NOUN
ftr-309	236	7	income	income	NOUN
ftr-309	236	8	,	,	PUNCT
ftr-309	236	9	interest	interest	NOUN
ftr-309	236	10	income	income	NOUN
ftr-309	236	11	,	,	PUNCT
ftr-309	236	12	capital	capital	NOUN
ftr-309	236	13	gain	gain	NOUN
ftr-309	236	14	income	income	NOUN
ftr-309	236	15	,	,	PUNCT
ftr-309	236	16	and	and	CCONJ
ftr-309	236	17	other	other	ADJ
ftr-309	236	18	types	type	NOUN
ftr-309	236	19	of	of	ADP
ftr-309	236	20	investment	investment	NOUN
ftr-309	236	21	income.45	income.45	PROPN
ftr-309	236	22	b.	b.	PROPN
ftr-309	236	23	distributions	distribution	NOUN
ftr-309	236	24	by	by	ADP
ftr-309	236	25	a	a	DET
ftr-309	236	26	corporation	corporation	NOUN
ftr-309	236	27	when	when	SCONJ
ftr-309	236	28	a	a	DET
ftr-309	236	29	corporation	corporation	NOUN
ftr-309	236	30	distributes	distribute	VERB
ftr-309	236	31	cash	cash	NOUN
ftr-309	236	32	to	to	ADP
ftr-309	236	33	its	its	PRON
ftr-309	236	34	shareholders	shareholder	NOUN
ftr-309	236	35	,	,	PUNCT
ftr-309	236	36	the	the	DET
ftr-309	236	37	shareholders	shareholder	NOUN
ftr-309	236	38	may	may	AUX
ftr-309	236	39	recognize	recognize	VERB
ftr-309	236	40	dividend	dividend	NOUN
ftr-309	236	41	income	income	NOUN
ftr-309	236	42	or	or	CCONJ
ftr-309	236	43	capital	capital	NOUN
ftr-309	236	44	gain	gain	NOUN
ftr-309	236	45	income.46	income.46	PROPN
ftr-309	236	46	in	in	ADP
ftr-309	236	47	particular	particular	ADJ
ftr-309	236	48	,	,	PUNCT
ftr-309	236	49	to	to	ADP
ftr-309	236	50	the	the	DET
ftr-309	236	51	extent	extent	NOUN
ftr-309	236	52	that	that	SCONJ
ftr-309	236	53	the	the	DET
ftr-309	236	54	distribution	distribution	NOUN
ftr-309	236	55	does	do	AUX
ftr-309	236	56	not	not	PART
ftr-309	236	57	exceed	exceed	VERB
ftr-309	236	58	the	the	DET
ftr-309	236	59	corporation	corporation	NOUN
ftr-309	236	60	's	's	PART
ftr-309	236	61	available	available	ADJ
ftr-309	236	62	earnings	earning	NOUN
ftr-309	236	63	and	and	CCONJ
ftr-309	236	64	profits	profit	NOUN
ftr-309	236	65	,	,	PUNCT
ftr-309	236	66	shareholders	shareholder	NOUN
ftr-309	236	67	will	will	AUX
ftr-309	236	68	recognize	recognize	VERB
ftr-309	236	69	dividend	dividend	NOUN
ftr-309	236	70	income.47	income.47	PROPN
ftr-309	236	71	if	if	SCONJ
ftr-309	236	72	the	the	DET
ftr-309	236	73	distribution	distribution	NOUN
ftr-309	236	74	does	do	AUX
ftr-309	236	75	exceed	exceed	VERB
ftr-309	236	76	earnings	earning	NOUN
ftr-309	236	77	and	and	CCONJ
ftr-309	236	78	profits	profit	NOUN
ftr-309	236	79	,	,	PUNCT
ftr-309	236	80	shareholders	shareholder	NOUN
ftr-309	236	81	could	could	AUX
ftr-309	236	82	potentially	potentially	ADV
ftr-309	236	83	recognize	recognize	VERB
ftr-309	236	84	gain	gain	NOUN
ftr-309	236	85	from	from	ADP
ftr-309	236	86	the	the	DET
ftr-309	236	87	sale	sale	NOUN
ftr-309	236	88	of	of	ADP
ftr-309	236	89	stock	stock	NOUN
ftr-309	236	90	in	in	ADP
ftr-309	236	91	the	the	DET
ftr-309	236	92	corporation	corporation	NOUN
ftr-309	236	93	,	,	PUNCT
ftr-309	236	94	which	which	PRON
ftr-309	236	95	will	will	AUX
ftr-309	236	96	be	be	AUX
ftr-309	236	97	capital	capital	NOUN
ftr-309	236	98	gain	gain	NOUN
ftr-309	236	99	income	income	NOUN
ftr-309	236	100	in	in	ADP
ftr-309	236	101	most	most	ADJ
ftr-309	236	102	cases.4	cases.4	PROPN
ftr-309	236	103	8	8	NUM
ftr-309	236	104	thus	thus	ADV
ftr-309	236	105	,	,	PUNCT
ftr-309	236	106	the	the	DET
ftr-309	236	107	income	income	NOUN
ftr-309	236	108	recognized	recognize	VERB
ftr-309	236	109	by	by	ADP
ftr-309	236	110	blackstone	blackstone	NOUN
ftr-309	236	111	group	group	PROPN
ftr-309	236	112	lp	lp	PROPN
ftr-309	236	113	as	as	ADP
ftr-309	236	114	a	a	DET
ftr-309	236	115	result	result	NOUN
ftr-309	236	116	of	of	ADP
ftr-309	236	117	receiving	receive	VERB
ftr-309	236	118	distributions	distribution	NOUN
ftr-309	236	119	from	from	ADP
ftr-309	236	120	u.s	u.s	PROPN
ftr-309	236	121	.	.	PROPN
ftr-309	236	122	subsidiary	subsidiary	NOUN
ftr-309	236	123	and	and	CCONJ
ftr-309	236	124	non	non	ADJ
ftr-309	236	125	-	-	ADJ
ftr-309	236	126	u.s	u.s	PROPN
ftr-309	236	127	.	.	PROPN
ftr-309	236	128	subsidiary	subsidiary	NOUN
ftr-309	236	129	will	will	AUX
ftr-309	236	130	be	be	AUX
ftr-309	236	131	dividend	dividend	NOUN
ftr-309	236	132	income	income	NOUN
ftr-309	236	133	or	or	CCONJ
ftr-309	236	134	capital	capital	NOUN
ftr-309	236	135	gain	gain	VERB
ftr-309	236	136	income.49	income.49	PROPN
ftr-309	236	137	c.	c.	PROPN
ftr-309	236	138	tax	tax	PROPN
ftr-309	236	139	treatment	treatment	NOUN
ftr-309	236	140	ofa	ofa	PROPN
ftr-309	236	141	u.s	u.s	PROPN
ftr-309	236	142	.	.	PROPN
ftr-309	236	143	corporation	corporation	PROPN
ftr-309	236	144	a	a	DET
ftr-309	236	145	u.s	u.s	PROPN
ftr-309	236	146	.	.	PROPN
ftr-309	236	147	entity	entity	NOUN
ftr-309	236	148	treated	treat	VERB
ftr-309	236	149	as	as	ADP
ftr-309	236	150	a	a	DET
ftr-309	236	151	corporation	corporation	NOUN
ftr-309	236	152	for	for	ADP
ftr-309	236	153	tax	tax	NOUN
ftr-309	236	154	purposes	purpose	NOUN
ftr-309	236	155	is	be	AUX
ftr-309	236	156	subject	subject	ADJ
ftr-309	236	157	to	to	ADP
ftr-309	236	158	tax	tax	NOUN
ftr-309	236	159	,	,	PUNCT
ftr-309	236	160	generally	generally	ADV
ftr-309	236	161	at	at	ADP
ftr-309	236	162	a	a	DET
ftr-309	236	163	rate	rate	NOUN
ftr-309	236	164	of	of	ADP
ftr-309	236	165	35	35	NUM
ftr-309	236	166	percent	percent	NOUN
ftr-309	236	167	,	,	PUNCT
ftr-309	236	168	on	on	ADP
ftr-309	236	169	all	all	PRON
ftr-309	236	170	of	of	ADP
ftr-309	236	171	its	its	PRON
ftr-309	236	172	taxable	taxable	ADJ
ftr-309	236	173	income.50	income.50	NOUN
ftr-309	236	174	thus	thus	ADV
ftr-309	236	175	,	,	PUNCT
ftr-309	236	176	if	if	SCONJ
ftr-309	236	177	blackstone	blackstone	NOUN
ftr-309	236	178	group	group	PROPN
ftr-309	236	179	lp	lp	NOUN
ftr-309	236	180	were	be	AUX
ftr-309	236	181	treated	treat	VERB
ftr-309	236	182	as	as	ADP
ftr-309	236	183	a	a	DET
ftr-309	236	184	corporation	corporation	NOUN
ftr-309	236	185	,	,	PUNCT
ftr-309	236	186	it	it	PRON
ftr-309	236	187	would	would	AUX
ftr-309	236	188	owe	owe	VERB
ftr-309	236	189	a	a	DET
ftr-309	236	190	35	35	NUM
ftr-309	236	191	percent	percent	NOUN
ftr-309	236	192	tax	tax	NOUN
ftr-309	236	193	on	on	ADP
ftr-309	236	194	all	all	PRON
ftr-309	236	195	of	of	ADP
ftr-309	236	196	its	its	PRON
ftr-309	236	197	taxable	taxable	ADJ
ftr-309	236	198	income	income	NOUN
ftr-309	236	199	.	.	PUNCT
ftr-309	237	1	44	44	NUM
ftr-309	237	2	.	.	PUNCT
ftr-309	237	3	i.r.c	i.r.c	NOUN
ftr-309	237	4	.	.	PUNCT
ftr-309	238	1	§	§	PROPN
ftr-309	238	2	7704(c	7704(c	NOUN
ftr-309	238	3	)	)	PUNCT
ftr-309	238	4	.	.	PUNCT
ftr-309	239	1	for	for	ADP
ftr-309	239	2	more	more	ADJ
ftr-309	239	3	on	on	ADP
ftr-309	239	4	the	the	DET
ftr-309	239	5	purpose	purpose	NOUN
ftr-309	239	6	for	for	ADP
ftr-309	239	7	this	this	DET
ftr-309	239	8	qualifying	qualify	VERB
ftr-309	239	9	income	income	NOUN
ftr-309	239	10	exception	exception	NOUN
ftr-309	239	11	,	,	PUNCT
ftr-309	239	12	see	see	VERB
ftr-309	239	13	infra	infra	NOUN
ftr-309	239	14	note	note	VERB
ftr-309	239	15	164	164	NUM
ftr-309	239	16	.	.	PUNCT
ftr-309	240	1	45	45	NUM
ftr-309	240	2	.	.	PUNCT
ftr-309	240	3	i.r.c	i.r.c	NOUN
ftr-309	240	4	.	.	PUNCT
ftr-309	241	1	§	§	PROPN
ftr-309	241	2	7704(d	7704(d	PROPN
ftr-309	241	3	)	)	PUNCT
ftr-309	241	4	.	.	PUNCT
ftr-309	242	1	46	46	NUM
ftr-309	242	2	.	.	PUNCT
ftr-309	243	1	this	this	PRON
ftr-309	243	2	assumes	assume	VERB
ftr-309	243	3	the	the	DET
ftr-309	243	4	shareholders	shareholder	NOUN
ftr-309	243	5	are	be	AUX
ftr-309	243	6	receiving	receive	VERB
ftr-309	243	7	distributions	distribution	NOUN
ftr-309	243	8	because	because	SCONJ
ftr-309	243	9	they	they	PRON
ftr-309	243	10	are	be	AUX
ftr-309	243	11	shareholders	shareholder	NOUN
ftr-309	243	12	and	and	CCONJ
ftr-309	243	13	not	not	PART
ftr-309	243	14	because	because	SCONJ
ftr-309	243	15	of	of	ADP
ftr-309	243	16	some	some	DET
ftr-309	243	17	other	other	ADJ
ftr-309	243	18	relationship	relationship	NOUN
ftr-309	243	19	they	they	PRON
ftr-309	243	20	have	have	VERB
ftr-309	243	21	with	with	ADP
ftr-309	243	22	the	the	DET
ftr-309	243	23	corporation	corporation	NOUN
ftr-309	243	24	,	,	PUNCT
ftr-309	243	25	such	such	ADJ
ftr-309	243	26	as	as	ADP
ftr-309	243	27	an	an	DET
ftr-309	243	28	employment	employment	NOUN
ftr-309	243	29	relationship	relationship	NOUN
ftr-309	243	30	.	.	PUNCT
ftr-309	244	1	see	see	VERB
ftr-309	244	2	i.r.c	i.r.c	NOUN
ftr-309	244	3	.	.	PUNCT
ftr-309	245	1	§	§	PROPN
ftr-309	245	2	301	301	NUM
ftr-309	245	3	(	(	PUNCT
ftr-309	245	4	providing	provide	VERB
ftr-309	245	5	that	that	SCONJ
ftr-309	245	6	the	the	DET
ftr-309	245	7	treatment	treatment	NOUN
ftr-309	245	8	described	describe	VERB
ftr-309	245	9	applies	apply	VERB
ftr-309	245	10	only	only	ADV
ftr-309	245	11	to	to	ADP
ftr-309	245	12	distributions	distribution	NOUN
ftr-309	245	13	made	make	VERB
ftr-309	245	14	by	by	ADP
ftr-309	245	15	a	a	DET
ftr-309	245	16	corporation	corporation	NOUN
ftr-309	245	17	to	to	ADP
ftr-309	245	18	a	a	DET
ftr-309	245	19	shareholder	shareholder	NOUN
ftr-309	245	20	"	"	PUNCT
ftr-309	245	21	with	with	ADP
ftr-309	245	22	respect	respect	NOUN
ftr-309	245	23	to	to	ADP
ftr-309	245	24	its	its	PRON
ftr-309	245	25	stock	stock	NOUN
ftr-309	245	26	"	"	PUNCT
ftr-309	245	27	)	)	PUNCT
ftr-309	245	28	.	.	PUNCT
ftr-309	246	1	47	47	NUM
ftr-309	246	2	.	.	PUNCT
ftr-309	246	3	i.r.c	i.r.c	NOUN
ftr-309	246	4	.	.	PUNCT
ftr-309	247	1	§	§	PROPN
ftr-309	247	2	§	§	PROPN
ftr-309	247	3	301(c)(1	301(c)(1	PROPN
ftr-309	247	4	)	)	PUNCT
ftr-309	247	5	,	,	PUNCT
ftr-309	247	6	316	316	NUM
ftr-309	247	7	.	.	NOUN
ftr-309	247	8	48	48	NUM
ftr-309	247	9	.	.	PUNCT
ftr-309	247	10	i.r.c	i.r.c	NOUN
ftr-309	247	11	.	.	PUNCT
ftr-309	248	1	§	§	PROPN
ftr-309	248	2	301(c)(3)(a	301(c)(3)(a	PROPN
ftr-309	248	3	)	)	PUNCT
ftr-309	248	4	.	.	PUNCT
ftr-309	249	1	49	49	NUM
ftr-309	249	2	.	.	PUNCT
ftr-309	250	1	see	see	VERB
ftr-309	250	2	blackstone	blackstone	PROPN
ftr-309	250	3	s-1	s-1	PROPN
ftr-309	250	4	,	,	PUNCT
ftr-309	250	5	supra	supra	PROPN
ftr-309	250	6	note	note	NOUN
ftr-309	250	7	1	1	NUM
ftr-309	250	8	,	,	PUNCT
ftr-309	250	9	at	at	ADP
ftr-309	250	10	202	202	NUM
ftr-309	250	11	-	-	PUNCT
ftr-309	250	12	04	04	NUM
ftr-309	250	13	.	.	PUNCT
ftr-309	251	1	see	see	VERB
ftr-309	251	2	also	also	ADV
ftr-309	251	3	infra	infra	VERB
ftr-309	251	4	appendix	appendix	NOUN
ftr-309	251	5	.	.	PUNCT
ftr-309	252	1	the	the	DET
ftr-309	252	2	tax	tax	NOUN
ftr-309	252	3	treatment	treatment	NOUN
ftr-309	252	4	of	of	ADP
ftr-309	252	5	a	a	DET
ftr-309	252	6	shareholder	shareholder	NOUN
ftr-309	252	7	of	of	ADP
ftr-309	252	8	a	a	DET
ftr-309	252	9	non	non	ADJ
ftr-309	252	10	-	-	ADJ
ftr-309	252	11	u.s	u.s	ADJ
ftr-309	252	12	.	.	PROPN
ftr-309	252	13	corporation	corporation	NOUN
ftr-309	252	14	could	could	AUX
ftr-309	252	15	differ	differ	VERB
ftr-309	252	16	from	from	ADP
ftr-309	252	17	what	what	PRON
ftr-309	252	18	is	be	AUX
ftr-309	252	19	described	describe	VERB
ftr-309	252	20	in	in	ADP
ftr-309	252	21	the	the	DET
ftr-309	252	22	text	text	NOUN
ftr-309	252	23	if	if	SCONJ
ftr-309	252	24	the	the	DET
ftr-309	252	25	non	non	ADJ
ftr-309	252	26	-	-	ADJ
ftr-309	252	27	u.s	u.s	PROPN
ftr-309	252	28	.	.	PROPN
ftr-309	252	29	corporation	corporation	NOUN
ftr-309	252	30	earned	earn	VERB
ftr-309	252	31	passive	passive	ADJ
ftr-309	252	32	income	income	NOUN
ftr-309	252	33	.	.	PUNCT
ftr-309	253	1	in	in	ADP
ftr-309	253	2	this	this	DET
ftr-309	253	3	case	case	NOUN
ftr-309	253	4	,	,	PUNCT
ftr-309	253	5	special	special	ADJ
ftr-309	253	6	"	"	PUNCT
ftr-309	253	7	anti	anti	ADJ
ftr-309	253	8	-	-	ADJ
ftr-309	253	9	deferral	deferral	ADJ
ftr-309	253	10	"	"	PUNCT
ftr-309	253	11	rules	rule	NOUN
ftr-309	253	12	could	could	AUX
ftr-309	253	13	apply	apply	VERB
ftr-309	253	14	.	.	PUNCT
ftr-309	254	1	however	however	ADV
ftr-309	254	2	,	,	PUNCT
ftr-309	254	3	assuming	assume	VERB
ftr-309	254	4	only	only	ADV
ftr-309	254	5	active	active	ADJ
ftr-309	254	6	income	income	NOUN
ftr-309	254	7	is	be	AUX
ftr-309	254	8	allocated	allocate	VERB
ftr-309	254	9	to	to	ADP
ftr-309	254	10	non	non	ADJ
ftr-309	254	11	-	-	ADJ
ftr-309	254	12	u.s	u.s	PROPN
ftr-309	254	13	.	.	PROPN
ftr-309	254	14	subsidiary	subsidiary	NOUN
ftr-309	254	15	,	,	PUNCT
ftr-309	254	16	the	the	DET
ftr-309	254	17	anti	anti	ADJ
ftr-309	254	18	-	-	ADJ
ftr-309	254	19	deferral	deferral	ADJ
ftr-309	254	20	rules	rule	NOUN
ftr-309	254	21	would	would	AUX
ftr-309	254	22	not	not	PART
ftr-309	254	23	apply	apply	VERB
ftr-309	254	24	to	to	ADP
ftr-309	254	25	the	the	DET
ftr-309	254	26	blackstone	blackstone	NOUN
ftr-309	254	27	group	group	NOUN
ftr-309	254	28	lp	lp	PROPN
ftr-309	254	29	structure	structure	NOUN
ftr-309	254	30	.	.	PUNCT
ftr-309	255	1	50	50	NUM
ftr-309	255	2	.	.	PUNCT
ftr-309	255	3	i.r.c	i.r.c	NOUN
ftr-309	255	4	.	.	PUNCT
ftr-309	256	1	§	§	PROPN
ftr-309	256	2	11	11	NUM
ftr-309	256	3	.	.	NOUN
ftr-309	256	4	164	164	NUM
ftr-309	257	1	[	[	X
ftr-309	257	2	vol	vol	NOUN
ftr-309	257	3	.	.	PUNCT
ftr-309	257	4	14:5	14:5	NUM
ftr-309	257	5	2013	2013	NUM
ftr-309	257	6	]	]	PUNCT
ftr-309	257	7	was	be	AUX
ftr-309	257	8	blackstone	blackstone	NOUN
ftr-309	257	9	's	's	PART
ftr-309	257	10	initial	initial	ADJ
ftr-309	257	11	public	public	ADJ
ftr-309	257	12	offering	offering	NOUN
ftr-309	257	13	too	too	ADV
ftr-309	257	14	good	good	ADJ
ftr-309	257	15	to	to	PART
ftr-309	257	16	be	be	AUX
ftr-309	257	17	true	true	ADJ
ftr-309	257	18	?	?	PUNCT
ftr-309	258	1	furthermore	furthermore	ADV
ftr-309	258	2	,	,	PUNCT
ftr-309	258	3	in	in	ADP
ftr-309	258	4	the	the	DET
ftr-309	258	5	structure	structure	NOUN
ftr-309	258	6	used	use	VERB
ftr-309	258	7	by	by	ADP
ftr-309	258	8	blackstone	blackstone	PROPN
ftr-309	258	9	group	group	PROPN
ftr-309	258	10	lp	lp	PROPN
ftr-309	258	11	,	,	PUNCT
ftr-309	258	12	u.s	u.s	PROPN
ftr-309	258	13	.	.	PROPN
ftr-309	258	14	subsidiary	subsidiary	NOUN
ftr-309	258	15	is	be	AUX
ftr-309	258	16	subject	subject	ADJ
ftr-309	258	17	to	to	ADP
ftr-309	258	18	35	35	NUM
ftr-309	258	19	percent	percent	NOUN
ftr-309	258	20	tax	tax	NOUN
ftr-309	258	21	on	on	ADP
ftr-309	258	22	all	all	PRON
ftr-309	258	23	of	of	ADP
ftr-309	258	24	its	its	PRON
ftr-309	258	25	taxable	taxable	ADJ
ftr-309	258	26	income.5	income.5	DET
ftr-309	258	27	1	1	NUM
ftr-309	258	28	its	its	PRON
ftr-309	258	29	taxable	taxable	ADJ
ftr-309	258	30	income	income	NOUN
ftr-309	258	31	consists	consist	VERB
ftr-309	258	32	of	of	ADP
ftr-309	258	33	management	management	NOUN
ftr-309	258	34	fees	fee	NOUN
ftr-309	258	35	and	and	CCONJ
ftr-309	258	36	allocations	allocation	NOUN
ftr-309	258	37	of	of	ADP
ftr-309	258	38	nonqualifying	nonqualifye	VERB
ftr-309	258	39	income	income	NOUN
ftr-309	258	40	received	receive	VERB
ftr-309	258	41	from	from	ADP
ftr-309	258	42	the	the	DET
ftr-309	258	43	underlying	underlie	VERB
ftr-309	258	44	partnership	partnership	NOUN
ftr-309	258	45	less	less	ADV
ftr-309	258	46	allowable	allowable	ADJ
ftr-309	258	47	expenses	expense	NOUN
ftr-309	258	48	.	.	PUNCT
ftr-309	259	1	in	in	ADP
ftr-309	259	2	order	order	NOUN
ftr-309	259	3	to	to	PART
ftr-309	259	4	increase	increase	VERB
ftr-309	259	5	the	the	DET
ftr-309	259	6	deductible	deductible	ADJ
ftr-309	259	7	expenses	expense	NOUN
ftr-309	259	8	incurred	incur	VERB
ftr-309	259	9	by	by	ADP
ftr-309	259	10	u.s	u.s	PROPN
ftr-309	259	11	.	.	PROPN
ftr-309	259	12	subsidiary	subsidiary	PROPN
ftr-309	259	13	,	,	PUNCT
ftr-309	259	14	blackstone	blackstone	NOUN
ftr-309	259	15	group	group	NOUN
ftr-309	259	16	lp	lp	PROPN
ftr-309	259	17	might	might	AUX
ftr-309	259	18	loan	loan	VERB
ftr-309	259	19	funds	fund	NOUN
ftr-309	259	20	to	to	ADP
ftr-309	259	21	u.s	u.s	PROPN
ftr-309	259	22	.	.	PROPN
ftr-309	259	23	subsidiary	subsidiary	NOUN
ftr-309	259	24	and	and	CCONJ
ftr-309	259	25	charge	charge	VERB
ftr-309	259	26	u.s	u.s	PROPN
ftr-309	259	27	subsidiary	subsidiary	NOUN
ftr-309	259	28	interest	interest	NOUN
ftr-309	259	29	.	.	PUNCT
ftr-309	260	1	52	52	NUM
ftr-309	260	2	as	as	ADP
ftr-309	260	3	a	a	DET
ftr-309	260	4	result	result	NOUN
ftr-309	260	5	,	,	PUNCT
ftr-309	260	6	u.s	u.s	PROPN
ftr-309	260	7	.	.	PROPN
ftr-309	260	8	subsidiary	subsidiary	NOUN
ftr-309	260	9	could	could	AUX
ftr-309	260	10	deduct	deduct	VERB
ftr-309	260	11	this	this	DET
ftr-309	260	12	interest	interest	NOUN
ftr-309	260	13	expense	expense	NOUN
ftr-309	260	14	,	,	PUNCT
ftr-309	260	15	reducing	reduce	VERB
ftr-309	260	16	its	its	PRON
ftr-309	260	17	taxable	taxable	ADJ
ftr-309	260	18	income.13	income.13	NOUN
ftr-309	260	19	moreover	moreover	ADV
ftr-309	260	20	,	,	PUNCT
ftr-309	260	21	the	the	DET
ftr-309	260	22	interest	interest	NOUN
ftr-309	260	23	income	income	NOUN
ftr-309	260	24	received	receive	VERB
ftr-309	260	25	by	by	ADP
ftr-309	260	26	blackstone	blackstone	NOUN
ftr-309	260	27	group	group	PROPN
ftr-309	260	28	lp	lp	PROPN
ftr-309	260	29	from	from	ADP
ftr-309	260	30	u.s	u.s	PROPN
ftr-309	260	31	.	.	PROPN
ftr-309	260	32	subsidiary	subsidiary	NOUN
ftr-309	260	33	would	would	AUX
ftr-309	260	34	be	be	AUX
ftr-309	260	35	qualifying	qualify	VERB
ftr-309	260	36	income	income	NOUN
ftr-309	260	37	and	and	CCONJ
ftr-309	260	38	,	,	PUNCT
ftr-309	260	39	consequently	consequently	ADV
ftr-309	260	40	,	,	PUNCT
ftr-309	260	41	would	would	AUX
ftr-309	260	42	not	not	PART
ftr-309	260	43	jeopardize	jeopardize	VERB
ftr-309	260	44	its	its	PRON
ftr-309	260	45	ability	ability	NOUN
ftr-309	260	46	to	to	PART
ftr-309	260	47	comply	comply	VERB
ftr-309	260	48	with	with	ADP
ftr-309	260	49	the	the	DET
ftr-309	260	50	90	90	NUM
ftr-309	260	51	percent	percent	NOUN
ftr-309	260	52	gross	gross	ADJ
ftr-309	260	53	income	income	NOUN
ftr-309	260	54	exception.54	exception.54	PROPN
ftr-309	260	55	d.	d.	PROPN
ftr-309	260	56	tax	tax	PROPN
ftr-309	260	57	treatment	treatment	PROPN
ftr-309	260	58	ofa	ofa	PROPN
ftr-309	260	59	non	non	PROPN
ftr-309	260	60	-	-	ADJ
ftr-309	260	61	u.s	u.s	PROPN
ftr-309	260	62	.	.	PROPN
ftr-309	260	63	corporation	corporation	PROPN
ftr-309	260	64	a	a	DET
ftr-309	260	65	non	non	ADJ
ftr-309	260	66	-	-	ADJ
ftr-309	260	67	u.s	u.s	PROPN
ftr-309	260	68	.	.	PROPN
ftr-309	260	69	corporation	corporation	NOUN
ftr-309	260	70	is	be	AUX
ftr-309	260	71	subject	subject	ADJ
ftr-309	260	72	to	to	ADP
ftr-309	260	73	u.s	u.s	PROPN
ftr-309	260	74	.	.	PROPN
ftr-309	260	75	tax	tax	NOUN
ftr-309	260	76	only	only	ADV
ftr-309	260	77	on	on	ADP
ftr-309	260	78	u.s	u.s	PROPN
ftr-309	260	79	.	.	PROPN
ftr-309	260	80	source	source	NOUN
ftr-309	260	81	income	income	NOUN
ftr-309	260	82	and	and	CCONJ
ftr-309	260	83	income	income	NOUN
ftr-309	260	84	effectively	effectively	ADV
ftr-309	260	85	connected	connect	VERB
ftr-309	260	86	with	with	ADP
ftr-309	260	87	a	a	DET
ftr-309	260	88	u.s	u.s	PROPN
ftr-309	260	89	.	.	PROPN
ftr-309	260	90	trade	trade	NOUN
ftr-309	260	91	or	or	CCONJ
ftr-309	260	92	business.55	business.55	NOUN
ftr-309	260	93	furthermore	furthermore	ADV
ftr-309	260	94	,	,	PUNCT
ftr-309	260	95	a	a	DET
ftr-309	260	96	corporation	corporation	NOUN
ftr-309	260	97	is	be	AUX
ftr-309	260	98	considered	consider	VERB
ftr-309	260	99	a	a	DET
ftr-309	260	100	non	non	ADJ
ftr-309	260	101	-	-	ADJ
ftr-309	260	102	u.s	u.s	ADJ
ftr-309	260	103	.	.	PROPN
ftr-309	260	104	corporation	corporation	NOUN
ftr-309	260	105	simply	simply	ADV
ftr-309	260	106	by	by	ADP
ftr-309	260	107	virtue	virtue	NOUN
ftr-309	260	108	of	of	ADP
ftr-309	260	109	the	the	DET
ftr-309	260	110	fact	fact	NOUN
ftr-309	260	111	that	that	SCONJ
ftr-309	260	112	it	it	PRON
ftr-309	260	113	is	be	AUX
ftr-309	260	114	formed	form	VERB
ftr-309	260	115	outside	outside	ADP
ftr-309	260	116	of	of	ADP
ftr-309	260	117	the	the	DET
ftr-309	260	118	united	united	PROPN
ftr-309	260	119	states.5	states.5	PROPN
ftr-309	260	120	6	6	NUM
ftr-309	260	121	non	non	PROPN
ftr-309	260	122	-	-	ADJ
ftr-309	260	123	u.s	u.s	PROPN
ftr-309	260	124	.	.	PROPN
ftr-309	260	125	subsidiary	subsidiary	NOUN
ftr-309	260	126	,	,	PUNCT
ftr-309	260	127	shown	show	VERB
ftr-309	260	128	in	in	ADP
ftr-309	260	129	figure	figure	NOUN
ftr-309	260	130	1	1	NUM
ftr-309	260	131	,	,	PUNCT
ftr-309	260	132	was	be	AUX
ftr-309	260	133	formed	form	VERB
ftr-309	260	134	in	in	ADP
ftr-309	260	135	alberta	alberta	PROPN
ftr-309	260	136	,	,	PUNCT
ftr-309	260	137	canada	canada	PROPN
ftr-309	260	138	and	and	CCONJ
ftr-309	260	139	elected	elect	VERB
ftr-309	260	140	to	to	ADP
ftr-309	260	141	51	51	NUM
ftr-309	260	142	.	.	PUNCT
ftr-309	261	1	i	i	PRON
ftr-309	261	2	d.	d.	PROPN
ftr-309	261	3	;	;	PUNCT
ftr-309	261	4	see	see	VERB
ftr-309	261	5	also	also	ADV
ftr-309	261	6	blackstone	blackstone	NOUN
ftr-309	261	7	s-1	s-1	PROPN
ftr-309	261	8	,	,	PUNCT
ftr-309	261	9	supra	supra	PROPN
ftr-309	261	10	note	note	NOUN
ftr-309	261	11	1	1	NUM
ftr-309	261	12	,	,	PUNCT
ftr-309	261	13	at	at	ADP
ftr-309	261	14	202	202	NUM
ftr-309	261	15	-	-	SYM
ftr-309	261	16	04	04	NUM
ftr-309	261	17	(	(	PUNCT
ftr-309	261	18	"	"	PUNCT
ftr-309	261	19	u.s	u.s	PROPN
ftr-309	261	20	.	.	PROPN
ftr-309	261	21	subsidiary	subsidiary	NOUN
ftr-309	261	22	"	"	PUNCT
ftr-309	261	23	in	in	ADP
ftr-309	261	24	the	the	DET
ftr-309	261	25	simplified	simplified	ADJ
ftr-309	261	26	structure	structure	NOUN
ftr-309	261	27	is	be	AUX
ftr-309	261	28	the	the	DET
ftr-309	261	29	counterpart	counterpart	NOUN
ftr-309	261	30	to	to	ADP
ftr-309	261	31	"	"	PUNCT
ftr-309	261	32	blackstone	blackstone	NOUN
ftr-309	261	33	holdings	holding	NOUN
ftr-309	261	34	i	i	PROPN
ftr-309	261	35	gp	gp	PROPN
ftr-309	261	36	inc	inc	PROPN
ftr-309	261	37	.	.	PUNCT
ftr-309	261	38	"	"	PUNCT
ftr-309	261	39	and	and	CCONJ
ftr-309	261	40	"	"	PUNCT
ftr-309	261	41	blackstone	blackstone	PROPN
ftr-309	261	42	holdings	holdings	PROPN
ftr-309	261	43	ii	ii	PROPN
ftr-309	261	44	gp	gp	PROPN
ftr-309	261	45	inc	inc	PROPN
ftr-309	261	46	.	.	PUNCT
ftr-309	261	47	"	"	PUNCT
ftr-309	262	1	in	in	ADP
ftr-309	262	2	the	the	DET
ftr-309	262	3	actual	actual	ADJ
ftr-309	262	4	structure	structure	NOUN
ftr-309	262	5	)	)	PUNCT
ftr-309	262	6	;	;	PUNCT
ftr-309	262	7	infra	infra	NOUN
ftr-309	262	8	appendix	appendix	NOUN
ftr-309	262	9	.	.	PUNCT
ftr-309	263	1	52	52	NUM
ftr-309	263	2	.	.	PUNCT
ftr-309	264	1	from	from	ADP
ftr-309	264	2	blackstone	blackstone	NOUN
ftr-309	264	3	's	's	PART
ftr-309	264	4	documents	document	NOUN
ftr-309	264	5	,	,	PUNCT
ftr-309	264	6	it	it	PRON
ftr-309	264	7	is	be	AUX
ftr-309	264	8	not	not	PART
ftr-309	264	9	entirely	entirely	ADV
ftr-309	264	10	clear	clear	ADJ
ftr-309	264	11	whether	whether	SCONJ
ftr-309	264	12	they	they	PRON
ftr-309	264	13	used	use	VERB
ftr-309	264	14	debt	debt	NOUN
ftr-309	264	15	to	to	PART
ftr-309	264	16	reduce	reduce	VERB
ftr-309	264	17	u.s	u.s	PROPN
ftr-309	264	18	.	.	PROPN
ftr-309	264	19	subsidiary	subsidiary	NOUN
ftr-309	264	20	's	's	PART
ftr-309	264	21	taxes	taxis	NOUN
ftr-309	264	22	in	in	ADP
ftr-309	264	23	this	this	DET
ftr-309	264	24	manner	manner	NOUN
ftr-309	264	25	.	.	PUNCT
ftr-309	265	1	however	however	ADV
ftr-309	265	2	,	,	PUNCT
ftr-309	265	3	fortress	fortress	NOUN
ftr-309	265	4	,	,	PUNCT
ftr-309	265	5	a	a	DET
ftr-309	265	6	similar	similar	ADJ
ftr-309	265	7	company	company	NOUN
ftr-309	265	8	that	that	PRON
ftr-309	265	9	engaged	engage	VERB
ftr-309	265	10	in	in	ADP
ftr-309	265	11	a	a	DET
ftr-309	265	12	similarly	similarly	ADV
ftr-309	265	13	structured	structured	ADJ
ftr-309	265	14	initial	initial	ADJ
ftr-309	265	15	public	public	ADJ
ftr-309	265	16	offering	offering	NOUN
ftr-309	265	17	,	,	PUNCT
ftr-309	265	18	did	do	AUX
ftr-309	265	19	use	use	VERB
ftr-309	265	20	debt	debt	NOUN
ftr-309	265	21	in	in	ADP
ftr-309	265	22	this	this	DET
ftr-309	265	23	manner	manner	NOUN
ftr-309	265	24	.	.	PUNCT
ftr-309	266	1	see	see	VERB
ftr-309	266	2	,	,	PUNCT
ftr-309	266	3	e.g.	e.g.	ADV
ftr-309	266	4	,	,	PUNCT
ftr-309	266	5	susan	susan	PROPN
ftr-309	266	6	beck	beck	PROPN
ftr-309	266	7	,	,	PUNCT
ftr-309	266	8	the	the	DET
ftr-309	266	9	transformers	transformer	NOUN
ftr-309	266	10	,	,	PUNCT
ftr-309	266	11	am	be	AUX
ftr-309	266	12	.	.	PUNCT
ftr-309	266	13	law	law	NOUN
ftr-309	266	14	.	.	PUNCT
ftr-309	267	1	nov	nov	PROPN
ftr-309	267	2	.	.	PROPN
ftr-309	267	3	1	1	NUM
ftr-309	267	4	,	,	PUNCT
ftr-309	267	5	2007	2007	NUM
ftr-309	267	6	,	,	PUNCT
ftr-309	267	7	at	at	ADP
ftr-309	267	8	94	94	NUM
ftr-309	267	9	(	(	PUNCT
ftr-309	267	10	"	"	PUNCT
ftr-309	267	11	the	the	DET
ftr-309	267	12	blocker	blocker	NOUN
ftr-309	267	13	[	[	X
ftr-309	267	14	(	(	PUNCT
ftr-309	267	15	the	the	DET
ftr-309	267	16	counterpart	counterpart	NOUN
ftr-309	267	17	to	to	ADP
ftr-309	267	18	u.s	u.s	PROPN
ftr-309	267	19	.	.	PROPN
ftr-309	267	20	subsidiary	subsidiary	NOUN
ftr-309	267	21	in	in	ADP
ftr-309	267	22	the	the	DET
ftr-309	267	23	fortress	fortress	NOUN
ftr-309	267	24	structure	structure	NOUN
ftr-309	267	25	)	)	PUNCT
ftr-309	267	26	]	]	PUNCT
ftr-309	267	27	would	would	AUX
ftr-309	267	28	borrow	borrow	VERB
ftr-309	267	29	a	a	DET
ftr-309	267	30	large	large	ADJ
ftr-309	267	31	amount	amount	NOUN
ftr-309	267	32	of	of	ADP
ftr-309	267	33	money	money	NOUN
ftr-309	267	34	from	from	ADP
ftr-309	267	35	another	another	DET
ftr-309	267	36	fortress	fortress	NOUN
ftr-309	267	37	subsidiary	subsidiary	NOUN
ftr-309	267	38	,	,	PUNCT
ftr-309	267	39	according	accord	VERB
ftr-309	267	40	to	to	ADP
ftr-309	267	41	two	two	NUM
ftr-309	267	42	people	people	NOUN
ftr-309	267	43	familiar	familiar	ADJ
ftr-309	267	44	with	with	ADP
ftr-309	267	45	the	the	DET
ftr-309	267	46	deal	deal	NOUN
ftr-309	267	47	.	.	PUNCT
ftr-309	268	1	the	the	DET
ftr-309	268	2	blocker	blocker	NOUN
ftr-309	268	3	's	's	PART
ftr-309	268	4	interest	interest	NOUN
ftr-309	268	5	payments	payment	NOUN
ftr-309	268	6	on	on	ADP
ftr-309	268	7	this	this	DET
ftr-309	268	8	debt	debt	NOUN
ftr-309	268	9	,	,	PUNCT
ftr-309	268	10	which	which	PRON
ftr-309	268	11	are	be	AUX
ftr-309	268	12	deductible	deductible	ADJ
ftr-309	268	13	,	,	PUNCT
ftr-309	268	14	would	would	AUX
ftr-309	268	15	wipe	wipe	VERB
ftr-309	268	16	out	out	ADP
ftr-309	268	17	much	much	ADJ
ftr-309	268	18	of	of	ADP
ftr-309	268	19	its	its	PRON
ftr-309	268	20	taxable	taxable	ADJ
ftr-309	268	21	income	income	NOUN
ftr-309	268	22	.	.	PUNCT
ftr-309	268	23	.	.	PUNCT
ftr-309	268	24	.	.	PUNCT
ftr-309	269	1	.	.	PUNCT
ftr-309	270	1	it	it	PRON
ftr-309	270	2	's	be	AUX
ftr-309	270	3	not	not	PART
ftr-309	270	4	clear	clear	ADJ
ftr-309	270	5	if	if	SCONJ
ftr-309	270	6	blackstone	blackstone	NOUN
ftr-309	270	7	's	's	PART
ftr-309	270	8	blocker	blocker	NOUN
ftr-309	270	9	corporations	corporation	NOUN
ftr-309	270	10	are	be	AUX
ftr-309	270	11	heavily	heavily	ADV
ftr-309	270	12	debt	debt	NOUN
ftr-309	270	13	-	-	PUNCT
ftr-309	270	14	laden	laden	NOUN
ftr-309	270	15	to	to	PART
ftr-309	270	16	wipe	wipe	VERB
ftr-309	270	17	out	out	ADP
ftr-309	270	18	taxable	taxable	ADJ
ftr-309	270	19	income	income	NOUN
ftr-309	270	20	.	.	PUNCT
ftr-309	270	21	"	"	PUNCT
ftr-309	270	22	)	)	PUNCT
ftr-309	270	23	;	;	PUNCT
ftr-309	270	24	see	see	VERB
ftr-309	270	25	also	also	ADV
ftr-309	270	26	,	,	PUNCT
ftr-309	270	27	blackstone	blackstone	NOUN
ftr-309	270	28	s-1	s-1	PROPN
ftr-309	270	29	,	,	PUNCT
ftr-309	270	30	supra	supra	PROPN
ftr-309	270	31	note	note	NOUN
ftr-309	270	32	1	1	NUM
ftr-309	270	33	,	,	PUNCT
ftr-309	270	34	at	at	ADP
ftr-309	270	35	61	61	NUM
ftr-309	270	36	(	(	PUNCT
ftr-309	270	37	"	"	PUNCT
ftr-309	270	38	the	the	DET
ftr-309	270	39	wholly	wholly	ADV
ftr-309	270	40	-	-	PUNCT
ftr-309	270	41	owned	own	VERB
ftr-309	270	42	subsidiaries	subsidiary	NOUN
ftr-309	270	43	of	of	ADP
ftr-309	270	44	the	the	DET
ftr-309	270	45	blackstone	blackstone	NOUN
ftr-309	270	46	group	group	NOUN
ftr-309	270	47	l.p	l.p	PROPN
ftr-309	270	48	.	.	PROPN
ftr-309	270	49	will	will	AUX
ftr-309	270	50	concurrently	concurrently	ADV
ftr-309	270	51	with	with	ADP
ftr-309	270	52	the	the	DET
ftr-309	270	53	reorganization	reorganization	NOUN
ftr-309	270	54	and	and	CCONJ
ftr-309	270	55	may	may	AUX
ftr-309	270	56	from	from	ADP
ftr-309	270	57	time	time	NOUN
ftr-309	270	58	to	to	ADP
ftr-309	270	59	time	time	NOUN
ftr-309	270	60	thereafter	thereafter	ADV
ftr-309	270	61	enter	enter	VERB
ftr-309	270	62	into	into	ADP
ftr-309	270	63	intracompany	intracompany	ADJ
ftr-309	270	64	lending	lending	NOUN
ftr-309	270	65	arrangements	arrangement	NOUN
ftr-309	270	66	with	with	ADP
ftr-309	270	67	one	one	NUM
ftr-309	270	68	another	another	DET
ftr-309	270	69	.	.	PUNCT
ftr-309	270	70	"	"	PUNCT
ftr-309	271	1	this	this	DET
ftr-309	271	2	statement	statement	NOUN
ftr-309	271	3	may	may	AUX
ftr-309	271	4	or	or	CCONJ
ftr-309	271	5	may	may	AUX
ftr-309	271	6	not	not	PART
ftr-309	271	7	refer	refer	VERB
ftr-309	271	8	to	to	ADP
ftr-309	271	9	using	use	VERB
ftr-309	271	10	debt	debt	NOUN
ftr-309	271	11	to	to	PART
ftr-309	271	12	reduce	reduce	VERB
ftr-309	271	13	corporate	corporate	ADJ
ftr-309	271	14	-	-	PUNCT
ftr-309	271	15	level	level	NOUN
ftr-309	271	16	tax	tax	NOUN
ftr-309	271	17	paid	pay	VERB
ftr-309	271	18	by	by	ADP
ftr-309	271	19	u.s	u.s	PROPN
ftr-309	271	20	.	.	PROPN
ftr-309	271	21	subsidiary	subsidiary	NOUN
ftr-309	271	22	)	)	PUNCT
ftr-309	271	23	.	.	PUNCT
ftr-309	272	1	53	53	NUM
ftr-309	272	2	.	.	X
ftr-309	272	3	see	see	VERB
ftr-309	272	4	i.r.c	i.r.c	NOUN
ftr-309	272	5	.	.	PUNCT
ftr-309	273	1	§	§	PROPN
ftr-309	273	2	163	163	NUM
ftr-309	273	3	(	(	PUNCT
ftr-309	273	4	providing	provide	VERB
ftr-309	273	5	for	for	ADP
ftr-309	273	6	an	an	DET
ftr-309	273	7	interest	interest	NOUN
ftr-309	273	8	deduction	deduction	NOUN
ftr-309	273	9	)	)	PUNCT
ftr-309	273	10	.	.	PUNCT
ftr-309	274	1	the	the	DET
ftr-309	274	2	ability	ability	NOUN
ftr-309	274	3	to	to	PART
ftr-309	274	4	deduct	deduct	VERB
ftr-309	274	5	interest	interest	NOUN
ftr-309	274	6	would	would	AUX
ftr-309	274	7	be	be	AUX
ftr-309	274	8	subject	subject	ADJ
ftr-309	274	9	to	to	ADP
ftr-309	274	10	certain	certain	ADJ
ftr-309	274	11	limitations	limitation	NOUN
ftr-309	274	12	.	.	PUNCT
ftr-309	275	1	for	for	ADP
ftr-309	275	2	example	example	NOUN
ftr-309	275	3	,	,	PUNCT
ftr-309	275	4	if	if	SCONJ
ftr-309	275	5	u.s	u.s	PROPN
ftr-309	275	6	.	.	PROPN
ftr-309	275	7	subsidiary	subsidiary	NOUN
ftr-309	275	8	were	be	AUX
ftr-309	275	9	too	too	ADV
ftr-309	275	10	thinly	thinly	ADV
ftr-309	275	11	capitalized	capitalize	VERB
ftr-309	275	12	,	,	PUNCT
ftr-309	275	13	some	some	PRON
ftr-309	275	14	of	of	ADP
ftr-309	275	15	the	the	DET
ftr-309	275	16	debt	debt	NOUN
ftr-309	275	17	could	could	AUX
ftr-309	275	18	be	be	AUX
ftr-309	275	19	recast	recast	VERB
ftr-309	275	20	as	as	ADP
ftr-309	275	21	equity	equity	NOUN
ftr-309	275	22	for	for	ADP
ftr-309	275	23	tax	tax	NOUN
ftr-309	275	24	purposes	purpose	NOUN
ftr-309	275	25	.	.	PUNCT
ftr-309	276	1	likewise	likewise	ADV
ftr-309	276	2	,	,	PUNCT
ftr-309	276	3	if	if	SCONJ
ftr-309	276	4	blackstone	blackstone	NOUN
ftr-309	276	5	group	group	NOUN
ftr-309	276	6	lp	lp	PROPN
ftr-309	276	7	charged	charge	VERB
ftr-309	276	8	an	an	DET
ftr-309	276	9	interest	interest	NOUN
ftr-309	276	10	rate	rate	NOUN
ftr-309	276	11	that	that	PRON
ftr-309	276	12	was	be	AUX
ftr-309	276	13	higher	high	ADJ
ftr-309	276	14	than	than	ADP
ftr-309	276	15	a	a	DET
ftr-309	276	16	market	market	NOUN
ftr-309	276	17	rate	rate	NOUN
ftr-309	276	18	,	,	PUNCT
ftr-309	276	19	the	the	DET
ftr-309	276	20	debt	debt	NOUN
ftr-309	276	21	could	could	AUX
ftr-309	276	22	be	be	AUX
ftr-309	276	23	recast	recast	VERB
ftr-309	276	24	as	as	ADP
ftr-309	276	25	equity	equity	NOUN
ftr-309	276	26	for	for	ADP
ftr-309	276	27	tax	tax	NOUN
ftr-309	276	28	purposes	purpose	NOUN
ftr-309	276	29	.	.	PUNCT
ftr-309	277	1	54	54	NUM
ftr-309	277	2	.	.	PUNCT
ftr-309	277	3	i.r.c	i.r.c	NOUN
ftr-309	277	4	.	.	PUNCT
ftr-309	278	1	§	§	PROPN
ftr-309	278	2	7704(d)(1)(a	7704(d)(1)(a	NUM
ftr-309	278	3	)	)	PUNCT
ftr-309	278	4	.	.	PUNCT
ftr-309	279	1	55	55	NUM
ftr-309	279	2	.	.	PUNCT
ftr-309	279	3	i.r.c	i.r.c	NOUN
ftr-309	279	4	.	.	PUNCT
ftr-309	280	1	§	§	PROPN
ftr-309	280	2	§	§	PROPN
ftr-309	280	3	881	881	NUM
ftr-309	280	4	-	-	SYM
ftr-309	280	5	882	882	NUM
ftr-309	280	6	.	.	PUNCT
ftr-309	280	7	56	56	NUM
ftr-309	280	8	.	.	PUNCT
ftr-309	280	9	i.r.c	i.r.c	NOUN
ftr-309	280	10	.	.	PUNCT
ftr-309	281	1	§	§	PROPN
ftr-309	281	2	7701(a)(4	7701(a)(4	NUM
ftr-309	281	3	)	)	PUNCT
ftr-309	281	4	,	,	PUNCT
ftr-309	281	5	(	(	PUNCT
ftr-309	281	6	5	5	NUM
ftr-309	281	7	)	)	PUNCT
ftr-309	281	8	.	.	PUNCT
ftr-309	282	1	165	165	NUM
ftr-309	282	2	florida	florida	PROPN
ftr-309	282	3	tax	tax	NOUN
ftr-309	282	4	review	review	NOUN
ftr-309	282	5	be	be	AUX
ftr-309	282	6	treated	treat	VERB
ftr-309	282	7	as	as	ADP
ftr-309	282	8	a	a	DET
ftr-309	282	9	corporation	corporation	NOUN
ftr-309	282	10	for	for	ADP
ftr-309	282	11	u.s	u.s	PROPN
ftr-309	282	12	.	.	PROPN
ftr-309	282	13	tax	tax	PROPN
ftr-309	282	14	purposes.5	purposes.5	PROPN
ftr-309	282	15	7	7	NUM
ftr-309	282	16	thus	thus	ADV
ftr-309	282	17	,	,	PUNCT
ftr-309	282	18	non	non	ADJ
ftr-309	282	19	-	-	ADJ
ftr-309	282	20	u.s	u.s	PROPN
ftr-309	282	21	.	.	PROPN
ftr-309	282	22	subsidiary	subsidiary	NOUN
ftr-309	282	23	is	be	AUX
ftr-309	282	24	a	a	DET
ftr-309	282	25	non	non	ADJ
ftr-309	282	26	-	-	ADJ
ftr-309	282	27	u.s	u.s	ADJ
ftr-309	282	28	.	.	PROPN
ftr-309	282	29	corporation	corporation	NOUN
ftr-309	282	30	.	.	PUNCT
ftr-309	283	1	presumably	presumably	ADV
ftr-309	283	2	,	,	PUNCT
ftr-309	283	3	the	the	DET
ftr-309	283	4	underlying	underlie	VERB
ftr-309	283	5	partnership	partnership	NOUN
ftr-309	283	6	allocates	allocate	NOUN
ftr-309	283	7	to	to	ADP
ftr-309	283	8	non	non	ADJ
ftr-309	283	9	-	-	ADJ
ftr-309	283	10	u.s	u.s	PROPN
ftr-309	283	11	.	.	PROPN
ftr-309	283	12	subsidiary	subsidiary	NOUN
ftr-309	283	13	only	only	ADV
ftr-309	283	14	income	income	NOUN
ftr-309	283	15	that	that	PRON
ftr-309	283	16	is	be	AUX
ftr-309	283	17	not	not	PART
ftr-309	283	18	u.s	u.s	PROPN
ftr-309	283	19	.	.	PROPN
ftr-309	283	20	source	source	NOUN
ftr-309	283	21	and	and	CCONJ
ftr-309	283	22	is	be	AUX
ftr-309	283	23	not	not	PART
ftr-309	283	24	effectively	effectively	ADV
ftr-309	283	25	connected	connect	VERB
ftr-309	283	26	with	with	ADP
ftr-309	283	27	a	a	DET
ftr-309	283	28	u.s	u.s	PROPN
ftr-309	283	29	.	.	PROPN
ftr-309	283	30	trade	trade	NOUN
ftr-309	283	31	or	or	CCONJ
ftr-309	283	32	business	business	NOUN
ftr-309	283	33	.	.	PUNCT
ftr-309	283	34	"	"	PUNCT
ftr-309	284	1	as	as	ADP
ftr-309	284	2	a	a	DET
ftr-309	284	3	result	result	NOUN
ftr-309	284	4	,	,	PUNCT
ftr-309	284	5	non	non	ADJ
ftr-309	284	6	-	-	ADJ
ftr-309	284	7	u.s	u.s	PROPN
ftr-309	284	8	.	.	PROPN
ftr-309	284	9	subsidiary	subsidiary	NOUN
ftr-309	284	10	has	have	VERB
ftr-309	284	11	no	no	DET
ftr-309	284	12	u.s	u.s	PROPN
ftr-309	284	13	.	.	PROPN
ftr-309	284	14	tax	tax	NOUN
ftr-309	284	15	liability	liability	NOUN
ftr-309	284	16	.	.	PUNCT
ftr-309	285	1	moreover	moreover	ADV
ftr-309	285	2	,	,	PUNCT
ftr-309	285	3	although	although	SCONJ
ftr-309	285	4	special	special	ADJ
ftr-309	285	5	anti	anti	ADJ
ftr-309	285	6	-	-	ADJ
ftr-309	285	7	deferral	deferral	ADJ
ftr-309	285	8	rules	rule	NOUN
ftr-309	285	9	can	can	AUX
ftr-309	285	10	apply	apply	VERB
ftr-309	285	11	to	to	ADP
ftr-309	285	12	non	non	ADJ
ftr-309	285	13	-	-	ADJ
ftr-309	285	14	u.s	u.s	PROPN
ftr-309	285	15	.	.	PROPN
ftr-309	285	16	corporations	corporation	NOUN
ftr-309	285	17	in	in	ADP
ftr-309	285	18	some	some	DET
ftr-309	285	19	circumstances	circumstance	NOUN
ftr-309	285	20	,	,	PUNCT
ftr-309	285	21	as	as	ADV
ftr-309	285	22	long	long	ADV
ftr-309	285	23	as	as	SCONJ
ftr-309	285	24	non	non	ADJ
ftr-309	285	25	-	-	ADJ
ftr-309	285	26	u.s	u.s	PROPN
ftr-309	285	27	.	.	PROPN
ftr-309	285	28	subsidiary	subsidiary	NOUN
ftr-309	285	29	earns	earn	VERB
ftr-309	285	30	only	only	ADV
ftr-309	285	31	active	active	ADJ
ftr-309	285	32	income	income	NOUN
ftr-309	285	33	,	,	PUNCT
ftr-309	285	34	these	these	DET
ftr-309	285	35	rules	rule	NOUN
ftr-309	285	36	would	would	AUX
ftr-309	285	37	not	not	PART
ftr-309	285	38	apply	apply	VERB
ftr-309	285	39	to	to	ADP
ftr-309	285	40	non	non	ADJ
ftr-309	285	41	-	-	ADJ
ftr-309	285	42	u.s	u.s	PROPN
ftr-309	285	43	.	.	PROPN
ftr-309	285	44	subsidiary	subsidiary	NOUN
ftr-309	285	45	.	.	PUNCT
ftr-309	286	1	finally	finally	ADV
ftr-309	286	2	,	,	PUNCT
ftr-309	286	3	non	non	ADJ
ftr-309	286	4	-	-	ADJ
ftr-309	286	5	u.s	u.s	PROPN
ftr-309	286	6	.	.	PROPN
ftr-309	286	7	subsidiary	subsidiary	NOUN
ftr-309	286	8	likely	likely	ADV
ftr-309	286	9	owes	owe	VERB
ftr-309	286	10	no	no	DET
ftr-309	286	11	canadian	canadian	ADJ
ftr-309	286	12	tax	tax	NOUN
ftr-309	286	13	because	because	SCONJ
ftr-309	286	14	it	it	PRON
ftr-309	286	15	is	be	AUX
ftr-309	286	16	formed	form	VERB
ftr-309	286	17	as	as	ADP
ftr-309	286	18	an	an	DET
ftr-309	286	19	alberta	alberta	PROPN
ftr-309	286	20	limited	limited	PROPN
ftr-309	286	21	partnership	partnership	NOUN
ftr-309	286	22	that	that	PRON
ftr-309	286	23	is	be	AUX
ftr-309	286	24	likely	likely	ADJ
ftr-309	286	25	a	a	DET
ftr-309	286	26	flow	flow	NOUN
ftr-309	286	27	-	-	PUNCT
ftr-309	286	28	through	through	ADP
ftr-309	286	29	entity	entity	NOUN
ftr-309	286	30	for	for	ADP
ftr-309	286	31	canadian	canadian	ADJ
ftr-309	286	32	tax	tax	NOUN
ftr-309	286	33	purposes,5	purposes,5	NOUN
ftr-309	286	34	9	9	NUM
ftr-309	286	35	despite	despite	SCONJ
ftr-309	286	36	its	its	PRON
ftr-309	286	37	elective	elective	ADJ
ftr-309	286	38	treatment	treatment	NOUN
ftr-309	286	39	as	as	ADP
ftr-309	286	40	a	a	DET
ftr-309	286	41	corporation	corporation	NOUN
ftr-309	286	42	for	for	ADP
ftr-309	286	43	u.s	u.s	PROPN
ftr-309	286	44	.	.	PROPN
ftr-309	286	45	tax	tax	NOUN
ftr-309	286	46	purposes	purpose	NOUN
ftr-309	286	47	.	.	PUNCT
ftr-309	287	1	e.	e.	PROPN
ftr-309	287	2	partnership	partnership	PROPN
ftr-309	287	3	allocations	allocation	NOUN
ftr-309	287	4	entities	entity	NOUN
ftr-309	287	5	treated	treat	VERB
ftr-309	287	6	as	as	ADP
ftr-309	287	7	partnerships	partnership	NOUN
ftr-309	287	8	for	for	ADP
ftr-309	287	9	tax	tax	NOUN
ftr-309	287	10	purposes	purpose	NOUN
ftr-309	287	11	are	be	AUX
ftr-309	287	12	not	not	PART
ftr-309	287	13	subject	subject	ADJ
ftr-309	287	14	to	to	ADP
ftr-309	287	15	tax	tax	NOUN
ftr-309	287	16	at	at	ADP
ftr-309	287	17	an	an	DET
ftr-309	287	18	entity	entity	NOUN
ftr-309	287	19	level.60	level.60	ADV
ftr-309	287	20	instead	instead	ADV
ftr-309	287	21	,	,	PUNCT
ftr-309	287	22	partnerships	partnership	NOUN
ftr-309	287	23	allocate	allocate	VERB
ftr-309	287	24	to	to	ADP
ftr-309	287	25	their	their	PRON
ftr-309	287	26	partners	partner	NOUN
ftr-309	287	27	all	all	DET
ftr-309	287	28	items	item	NOUN
ftr-309	287	29	of	of	ADP
ftr-309	287	30	tax	tax	NOUN
ftr-309	287	31	gain	gain	NOUN
ftr-309	287	32	,	,	PUNCT
ftr-309	287	33	loss	loss	NOUN
ftr-309	287	34	,	,	PUNCT
ftr-309	287	35	income	income	NOUN
ftr-309	287	36	,	,	PUNCT
ftr-309	287	37	and	and	CCONJ
ftr-309	287	38	deduction	deduction	NOUN
ftr-309	287	39	recognized	recognize	VERB
ftr-309	287	40	by	by	ADP
ftr-309	287	41	the	the	DET
ftr-309	287	42	partnership	partnership	NOUN
ftr-309	287	43	,	,	PUNCT
ftr-309	287	44	and	and	CCONJ
ftr-309	287	45	each	each	DET
ftr-309	287	46	partner	partner	NOUN
ftr-309	287	47	takes	take	VERB
ftr-309	287	48	into	into	ADP
ftr-309	287	49	account	account	NOUN
ftr-309	287	50	amounts	amount	NOUN
ftr-309	287	51	allocated	allocate	VERB
ftr-309	287	52	to	to	ADP
ftr-309	287	53	that	that	DET
ftr-309	287	54	partner	partner	NOUN
ftr-309	287	55	when	when	SCONJ
ftr-309	287	56	determining	determine	VERB
ftr-309	287	57	his	his	PRON
ftr-309	287	58	,	,	PUNCT
ftr-309	287	59	her	she	PRON
ftr-309	287	60	,	,	PUNCT
ftr-309	287	61	or	or	CCONJ
ftr-309	287	62	its	its	PRON
ftr-309	287	63	taxable	taxable	ADJ
ftr-309	287	64	income	income	NOUN
ftr-309	287	65	.	.	PUNCT
ftr-309	287	66	'	'	PUNCT
ftr-309	288	1	moreover	moreover	ADV
ftr-309	288	2	,	,	PUNCT
ftr-309	288	3	the	the	DET
ftr-309	288	4	character	character	NOUN
ftr-309	288	5	of	of	ADP
ftr-309	288	6	income	income	NOUN
ftr-309	288	7	allocated	allocate	VERB
ftr-309	288	8	to	to	ADP
ftr-309	288	9	a	a	DET
ftr-309	288	10	partner	partner	NOUN
ftr-309	288	11	is	be	AUX
ftr-309	288	12	the	the	DET
ftr-309	288	13	same	same	ADJ
ftr-309	288	14	as	as	ADP
ftr-309	288	15	the	the	DET
ftr-309	288	16	character	character	NOUN
ftr-309	288	17	of	of	ADP
ftr-309	288	18	the	the	DET
ftr-309	288	19	income	income	NOUN
ftr-309	288	20	earned	earn	VERB
ftr-309	288	21	by	by	ADP
ftr-309	288	22	the	the	DET
ftr-309	288	23	partnership.6	partnership.6	NOUN
ftr-309	288	24	2	2	NUM
ftr-309	288	25	carried	carry	VERB
ftr-309	288	26	interest	interest	NOUN
ftr-309	288	27	is	be	AUX
ftr-309	288	28	a	a	DET
ftr-309	288	29	right	right	NOUN
ftr-309	288	30	to	to	PART
ftr-309	288	31	receive	receive	VERB
ftr-309	288	32	profits	profit	NOUN
ftr-309	288	33	earned	earn	VERB
ftr-309	288	34	by	by	ADP
ftr-309	288	35	a	a	DET
ftr-309	288	36	partnership	partnership	NOUN
ftr-309	288	37	and	and	CCONJ
ftr-309	288	38	,	,	PUNCT
ftr-309	288	39	thus	thus	ADV
ftr-309	288	40	,	,	PUNCT
ftr-309	288	41	is	be	AUX
ftr-309	288	42	an	an	DET
ftr-309	288	43	interest	interest	NOUN
ftr-309	288	44	in	in	ADP
ftr-309	288	45	a	a	DET
ftr-309	288	46	partnership	partnership	NOUN
ftr-309	288	47	.	.	PUNCT
ftr-309	289	1	consequently	consequently	ADV
ftr-309	289	2	,	,	PUNCT
ftr-309	289	3	the	the	DET
ftr-309	289	4	person	person	NOUN
ftr-309	289	5	or	or	CCONJ
ftr-309	289	6	entity	entity	NOUN
ftr-309	289	7	that	that	PRON
ftr-309	289	8	holds	hold	VERB
ftr-309	289	9	the	the	DET
ftr-309	289	10	right	right	NOUN
ftr-309	289	11	to	to	PART
ftr-309	289	12	carried	carry	VERB
ftr-309	289	13	interest	interest	NOUN
ftr-309	289	14	will	will	AUX
ftr-309	289	15	be	be	AUX
ftr-309	289	16	allocated	allocate	VERB
ftr-309	289	17	a	a	DET
ftr-309	289	18	share	share	NOUN
ftr-309	289	19	of	of	ADP
ftr-309	289	20	income	income	NOUN
ftr-309	289	21	earned	earn	VERB
ftr-309	289	22	by	by	ADP
ftr-309	289	23	the	the	DET
ftr-309	289	24	partnership	partnership	NOUN
ftr-309	289	25	.	.	PUNCT
ftr-309	290	1	moreover	moreover	ADV
ftr-309	290	2	,	,	PUNCT
ftr-309	290	3	because	because	SCONJ
ftr-309	290	4	the	the	DET
ftr-309	290	5	character	character	NOUN
ftr-309	290	6	of	of	ADP
ftr-309	290	7	income	income	NOUN
ftr-309	290	8	allocated	allocate	VERB
ftr-309	290	9	to	to	ADP
ftr-309	290	10	a	a	DET
ftr-309	290	11	partner	partner	NOUN
ftr-309	290	12	depends	depend	VERB
ftr-309	290	13	on	on	ADP
ftr-309	290	14	the	the	DET
ftr-309	290	15	character	character	NOUN
ftr-309	290	16	of	of	ADP
ftr-309	290	17	income	income	NOUN
ftr-309	290	18	earned	earn	VERB
ftr-309	290	19	by	by	ADP
ftr-309	290	20	the	the	DET
ftr-309	290	21	57	57	NUM
ftr-309	290	22	.	.	PUNCT
ftr-309	291	1	blackstone	blackstone	NOUN
ftr-309	291	2	s-1	s-1	PROPN
ftr-309	291	3	,	,	PUNCT
ftr-309	291	4	supra	supra	PROPN
ftr-309	291	5	note	note	NOUN
ftr-309	291	6	1	1	NUM
ftr-309	291	7	,	,	PUNCT
ftr-309	291	8	at	at	ADP
ftr-309	291	9	204	204	NUM
ftr-309	291	10	(	(	PUNCT
ftr-309	291	11	"	"	PUNCT
ftr-309	291	12	blackstone	blackstone	NOUN
ftr-309	291	13	holdings	holding	NOUN
ftr-309	291	14	v	v	X
ftr-309	291	15	gp	gp	NOUN
ftr-309	291	16	l.p	l.p	NOUN
ftr-309	291	17	.	.	PUNCT
ftr-309	292	1	[	[	X
ftr-309	292	2	(	(	PUNCT
ftr-309	292	3	the	the	DET
ftr-309	292	4	counterpart	counterpart	NOUN
ftr-309	292	5	to	to	ADP
ftr-309	292	6	non	non	ADJ
ftr-309	292	7	-	-	ADJ
ftr-309	292	8	u.s	u.s	PROPN
ftr-309	292	9	.	.	PROPN
ftr-309	292	10	subsidiary	subsidiary	NOUN
ftr-309	292	11	in	in	ADP
ftr-309	292	12	the	the	DET
ftr-309	292	13	actual	actual	ADJ
ftr-309	292	14	structure	structure	NOUN
ftr-309	292	15	)	)	PUNCT
ftr-309	292	16	]	]	PUNCT
ftr-309	292	17	is	be	AUX
ftr-309	292	18	taxable	taxable	ADJ
ftr-309	292	19	as	as	ADP
ftr-309	292	20	a	a	DET
ftr-309	292	21	foreign	foreign	ADJ
ftr-309	292	22	corporation	corporation	NOUN
ftr-309	292	23	for	for	ADP
ftr-309	292	24	u.s	u.s	PROPN
ftr-309	292	25	.	.	PROPN
ftr-309	292	26	federal	federal	ADJ
ftr-309	292	27	income	income	NOUN
ftr-309	292	28	tax	tax	NOUN
ftr-309	292	29	purposes	purpose	NOUN
ftr-309	292	30	.	.	PUNCT
ftr-309	292	31	"	"	PUNCT
ftr-309	292	32	)	)	PUNCT
ftr-309	292	33	.	.	PUNCT
ftr-309	293	1	58	58	NUM
ftr-309	293	2	.	.	PUNCT
ftr-309	294	1	see	see	VERB
ftr-309	294	2	i	i	PRON
ftr-309	294	3	d.	d.	PROPN
ftr-309	294	4	(	(	PUNCT
ftr-309	294	5	"	"	PUNCT
ftr-309	294	6	blackstone	blackstone	NOUN
ftr-309	294	7	holdings	holding	NOUN
ftr-309	294	8	v	v	X
ftr-309	294	9	gp	gp	NOUN
ftr-309	295	1	l.p	l.p	NOUN
ftr-309	295	2	.	.	PUNCT
ftr-309	296	1	[	[	X
ftr-309	296	2	(	(	PUNCT
ftr-309	296	3	the	the	DET
ftr-309	296	4	counterpart	counterpart	NOUN
ftr-309	296	5	to	to	ADP
ftr-309	296	6	non	non	ADJ
ftr-309	296	7	-	-	ADJ
ftr-309	296	8	u.s	u.s	PROPN
ftr-309	296	9	.	.	PROPN
ftr-309	296	10	subsidiary	subsidiary	NOUN
ftr-309	296	11	in	in	ADP
ftr-309	296	12	the	the	DET
ftr-309	296	13	actual	actual	ADJ
ftr-309	296	14	structure	structure	NOUN
ftr-309	296	15	)	)	PUNCT
ftr-309	296	16	]	]	PUNCT
ftr-309	296	17	is	be	AUX
ftr-309	296	18	expected	expect	VERB
ftr-309	296	19	to	to	PART
ftr-309	296	20	be	be	AUX
ftr-309	296	21	operated	operate	VERB
ftr-309	296	22	so	so	ADV
ftr-309	296	23	as	as	SCONJ
ftr-309	296	24	not	not	PART
ftr-309	296	25	to	to	PART
ftr-309	296	26	produce	produce	VERB
ftr-309	296	27	[	[	X
ftr-309	296	28	effectively	effectively	ADV
ftr-309	296	29	connected	connected	ADJ
ftr-309	296	30	income	income	NOUN
ftr-309	296	31	]	]	PUNCT
ftr-309	296	32	.	.	PUNCT
ftr-309	296	33	"	"	PUNCT
ftr-309	296	34	)	)	PUNCT
ftr-309	296	35	.	.	PUNCT
ftr-309	297	1	59	59	NUM
ftr-309	297	2	.	.	PUNCT
ftr-309	298	1	i	i	PRON
ftr-309	298	2	d.	d.	PROPN
ftr-309	298	3	at	at	ADP
ftr-309	298	4	60	60	NUM
ftr-309	298	5	(	(	PUNCT
ftr-309	298	6	stating	state	VERB
ftr-309	298	7	that	that	SCONJ
ftr-309	298	8	blackstone	blackstone	NOUN
ftr-309	298	9	holdings	holding	NOUN
ftr-309	298	10	v	v	X
ftr-309	298	11	gp	gp	NOUN
ftr-309	298	12	l.p	l.p	PROPN
ftr-309	298	13	.	.	PROPN
ftr-309	299	1	(	(	PUNCT
ftr-309	299	2	the	the	DET
ftr-309	299	3	counterpart	counterpart	NOUN
ftr-309	299	4	to	to	ADP
ftr-309	299	5	non	non	ADJ
ftr-309	299	6	-	-	ADJ
ftr-309	299	7	u.s	u.s	PROPN
ftr-309	299	8	.	.	PROPN
ftr-309	299	9	subsidiary	subsidiary	NOUN
ftr-309	299	10	in	in	ADP
ftr-309	299	11	the	the	DET
ftr-309	299	12	actual	actual	ADJ
ftr-309	299	13	structure	structure	NOUN
ftr-309	299	14	)	)	PUNCT
ftr-309	299	15	is	be	AUX
ftr-309	299	16	an	an	DET
ftr-309	299	17	alberta	alberta	PROPN
ftr-309	299	18	limited	limited	PROPN
ftr-309	299	19	partnership	partnership	PROPN
ftr-309	299	20	)	)	PUNCT
ftr-309	299	21	;	;	PUNCT
ftr-309	299	22	aba	aba	PROPN
ftr-309	299	23	section	section	NOUN
ftr-309	299	24	of	of	ADP
ftr-309	299	25	taxation	taxation	NOUN
ftr-309	299	26	,	,	PUNCT
ftr-309	299	27	choice	choice	NOUN
ftr-309	299	28	of	of	ADP
ftr-309	299	29	entity	entity	NOUN
ftr-309	299	30	ownership	ownership	NOUN
ftr-309	299	31	of	of	ADP
ftr-309	299	32	real	real	ADJ
ftr-309	299	33	estate	estate	NOUN
ftr-309	299	34	including	include	VERB
ftr-309	299	35	cross	cross	NOUN
ftr-309	299	36	border	border	NOUN
ftr-309	299	37	investments	investment	NOUN
ftr-309	299	38	28	28	NUM
ftr-309	299	39	-	-	SYM
ftr-309	299	40	29	29	NUM
ftr-309	299	41	(	(	PUNCT
ftr-309	299	42	2007	2007	NUM
ftr-309	299	43	)	)	PUNCT
ftr-309	299	44	,	,	PUNCT
ftr-309	299	45	http://www.americanbar.org/content/	http://www.americanbar.org/content/	PROPN
ftr-309	299	46	dam	dam	PROPN
ftr-309	299	47	/	/	SYM
ftr-309	299	48	aba	aba	PROPN
ftr-309	299	49	/	/	SYM
ftr-309	299	50	events	event	NOUN
ftr-309	299	51	/	/	SYM
ftr-309	299	52	realproperty	realproperty	NOUN
ftr-309	299	53	trust	trust	NOUN
ftr-309	299	54	estate	estate	NOUN
ftr-309	299	55	/	/	SYM
ftr-309	299	56	joint	joint	ADJ
ftr-309	299	57	fall/2007	fall/2007	NOUN
ftr-309	299	58	/	/	SYM
ftr-309	299	59	choice	choice	NOUN
ftr-309	299	60	of	of	ADP
ftr-309	299	61	entityownersh	entityownersh	ADJ
ftr-309	299	62	ip_of	ip_of	PROPN
ftr-309	299	63	real.authcheckdam.pdf	real.authcheckdam.pdf	PROPN
ftr-309	299	64	(	(	PUNCT
ftr-309	299	65	table	table	NOUN
ftr-309	299	66	indicating	indicate	VERB
ftr-309	299	67	that	that	SCONJ
ftr-309	299	68	limited	limited	ADJ
ftr-309	299	69	partnerships	partnership	NOUN
ftr-309	299	70	receive	receive	VERB
ftr-309	299	71	flowthrough	flowthrough	ADJ
ftr-309	299	72	tax	tax	NOUN
ftr-309	299	73	treatment	treatment	NOUN
ftr-309	299	74	in	in	ADP
ftr-309	299	75	canada	canada	PROPN
ftr-309	299	76	)	)	PUNCT
ftr-309	299	77	.	.	PUNCT
ftr-309	300	1	60	60	NUM
ftr-309	300	2	.	.	PUNCT
ftr-309	300	3	i.r.c	i.r.c	NOUN
ftr-309	300	4	.	.	PUNCT
ftr-309	301	1	§	§	PROPN
ftr-309	301	2	701	701	NUM
ftr-309	301	3	.	.	NOUN
ftr-309	301	4	61	61	NUM
ftr-309	301	5	.	.	PUNCT
ftr-309	302	1	i	i	PRON
ftr-309	302	2	d.	d.	PROPN
ftr-309	302	3	62	62	NUM
ftr-309	302	4	.	.	PUNCT
ftr-309	303	1	i.r.c	i.r.c	NOUN
ftr-309	303	2	.	.	PUNCT
ftr-309	304	1	§	§	PROPN
ftr-309	304	2	702(b	702(b	PROPN
ftr-309	304	3	)	)	PUNCT
ftr-309	304	4	.	.	PUNCT
ftr-309	305	1	63	63	NUM
ftr-309	305	2	.	.	PUNCT
ftr-309	305	3	i.r.c	i.r.c	NOUN
ftr-309	305	4	.	.	PUNCT
ftr-309	306	1	§	§	PROPN
ftr-309	306	2	§	§	ADJ
ftr-309	306	3	701	701	NUM
ftr-309	306	4	-	-	SYM
ftr-309	306	5	702	702	NUM
ftr-309	306	6	.	.	PUNCT
ftr-309	307	1	[	[	X
ftr-309	307	2	vol	vol	NOUN
ftr-309	307	3	.	.	PUNCT
ftr-309	308	1	14:5166	14:5166	NUM
ftr-309	308	2	2013	2013	NUM
ftr-309	308	3	]	]	PUNCT
ftr-309	308	4	was	be	AUX
ftr-309	308	5	blackstone	blackstone	NOUN
ftr-309	308	6	's	's	PART
ftr-309	308	7	initial	initial	ADJ
ftr-309	308	8	public	public	ADJ
ftr-309	308	9	offering	offering	NOUN
ftr-309	308	10	too	too	ADV
ftr-309	308	11	good	good	ADJ
ftr-309	308	12	to	to	PART
ftr-309	308	13	be	be	AUX
ftr-309	308	14	true	true	ADJ
ftr-309	308	15	?	?	PUNCT
ftr-309	309	1	partnership	partnership	NOUN
ftr-309	309	2	,	,	PUNCT
ftr-309	309	3	the	the	DET
ftr-309	309	4	character	character	NOUN
ftr-309	309	5	of	of	ADP
ftr-309	309	6	carried	carry	VERB
ftr-309	309	7	interest	interest	NOUN
ftr-309	309	8	depends	depend	VERB
ftr-309	309	9	on	on	ADP
ftr-309	309	10	the	the	DET
ftr-309	309	11	type	type	NOUN
ftr-309	309	12	of	of	ADP
ftr-309	309	13	underlying	underlie	VERB
ftr-309	309	14	partnership	partnership	NOUN
ftr-309	309	15	income	income	NOUN
ftr-309	309	16	allocated	allocate	VERB
ftr-309	309	17	to	to	ADP
ftr-309	309	18	the	the	DET
ftr-309	309	19	person	person	NOUN
ftr-309	309	20	or	or	CCONJ
ftr-309	309	21	entity	entity	NOUN
ftr-309	309	22	that	that	PRON
ftr-309	309	23	receives	receives	AUX
ftr-309	309	24	carried	carry	VERB
ftr-309	309	25	interest.6	interest.6	PROPN
ftr-309	309	26	the	the	DET
ftr-309	309	27	blackstone	blackstone	NOUN
ftr-309	309	28	firm	firm	NOUN
ftr-309	309	29	sponsors	sponsor	VERB
ftr-309	309	30	funds	fund	NOUN
ftr-309	309	31	that	that	PRON
ftr-309	309	32	engage	engage	VERB
ftr-309	309	33	in	in	ADP
ftr-309	309	34	a	a	DET
ftr-309	309	35	variety	variety	NOUN
ftr-309	309	36	of	of	ADP
ftr-309	309	37	activities	activity	NOUN
ftr-309	309	38	and	and	CCONJ
ftr-309	309	39	earn	earn	VERB
ftr-309	309	40	a	a	DET
ftr-309	309	41	variety	variety	NOUN
ftr-309	309	42	of	of	ADP
ftr-309	309	43	different	different	ADJ
ftr-309	309	44	types	type	NOUN
ftr-309	309	45	of	of	ADP
ftr-309	309	46	income	income	NOUN
ftr-309	309	47	.	.	PUNCT
ftr-309	310	1	in	in	ADP
ftr-309	310	2	particular	particular	ADJ
ftr-309	310	3	,	,	PUNCT
ftr-309	310	4	the	the	DET
ftr-309	310	5	blackstone	blackstone	NOUN
ftr-309	310	6	firm	firm	NOUN
ftr-309	310	7	's	's	PART
ftr-309	310	8	funds	fund	NOUN
ftr-309	310	9	earn	earn	VERB
ftr-309	310	10	dividend	dividend	NOUN
ftr-309	310	11	income	income	NOUN
ftr-309	310	12	,	,	PUNCT
ftr-309	310	13	capital	capital	NOUN
ftr-309	310	14	gain	gain	NOUN
ftr-309	310	15	income	income	NOUN
ftr-309	310	16	,	,	PUNCT
ftr-309	310	17	and	and	CCONJ
ftr-309	310	18	interest	interest	NOUN
ftr-309	310	19	income	income	NOUN
ftr-309	310	20	,	,	PUNCT
ftr-309	310	21	all	all	PRON
ftr-309	310	22	of	of	ADP
ftr-309	310	23	which	which	PRON
ftr-309	310	24	are	be	AUX
ftr-309	310	25	types	type	NOUN
ftr-309	310	26	of	of	ADP
ftr-309	310	27	"	"	PUNCT
ftr-309	310	28	qualifying	qualify	VERB
ftr-309	310	29	income	income	NOUN
ftr-309	310	30	"	"	PUNCT
ftr-309	310	31	for	for	ADP
ftr-309	310	32	purposes	purpose	NOUN
ftr-309	310	33	of	of	ADP
ftr-309	310	34	the	the	DET
ftr-309	310	35	90	90	NUM
ftr-309	310	36	percent	percent	NOUN
ftr-309	310	37	gross	gross	ADJ
ftr-309	310	38	income	income	NOUN
ftr-309	310	39	exception	exception	NOUN
ftr-309	310	40	.	.	PUNCT
ftr-309	311	1	the	the	DET
ftr-309	311	2	blackstone	blackstone	NOUN
ftr-309	311	3	firm	firm	NOUN
ftr-309	311	4	's	's	PART
ftr-309	311	5	funds	fund	NOUN
ftr-309	311	6	also	also	ADV
ftr-309	311	7	earn	earn	VERB
ftr-309	311	8	break	break	NOUN
ftr-309	311	9	-	-	PUNCT
ftr-309	311	10	up	up	ADP
ftr-309	311	11	fees	fee	NOUN
ftr-309	311	12	.	.	PUNCT
ftr-309	312	1	when	when	SCONJ
ftr-309	312	2	a	a	DET
ftr-309	312	3	private	private	ADJ
ftr-309	312	4	equity	equity	NOUN
ftr-309	312	5	fund	fund	NOUN
ftr-309	312	6	is	be	AUX
ftr-309	312	7	planning	plan	VERB
ftr-309	312	8	to	to	PART
ftr-309	312	9	acquire	acquire	VERB
ftr-309	312	10	a	a	DET
ftr-309	312	11	business	business	NOUN
ftr-309	312	12	,	,	PUNCT
ftr-309	312	13	if	if	SCONJ
ftr-309	312	14	the	the	DET
ftr-309	312	15	deal	deal	NOUN
ftr-309	312	16	is	be	AUX
ftr-309	312	17	not	not	PART
ftr-309	312	18	ultimately	ultimately	ADV
ftr-309	312	19	consummated	consummate	VERB
ftr-309	312	20	,	,	PUNCT
ftr-309	312	21	the	the	DET
ftr-309	312	22	private	private	ADJ
ftr-309	312	23	equity	equity	NOUN
ftr-309	312	24	fund	fund	NOUN
ftr-309	312	25	may	may	AUX
ftr-309	312	26	receive	receive	VERB
ftr-309	312	27	a	a	DET
ftr-309	312	28	break	break	VERB
ftr-309	312	29	-	-	PUNCT
ftr-309	312	30	up	up	ADP
ftr-309	312	31	fee	fee	NOUN
ftr-309	312	32	from	from	ADP
ftr-309	312	33	the	the	DET
ftr-309	312	34	current	current	ADJ
ftr-309	312	35	owner	owner	NOUN
ftr-309	312	36	of	of	ADP
ftr-309	312	37	the	the	DET
ftr-309	312	38	business	business	NOUN
ftr-309	312	39	.	.	PUNCT
ftr-309	313	1	this	this	DET
ftr-309	313	2	break	break	NOUN
ftr-309	313	3	-	-	PUNCT
ftr-309	313	4	up	up	ADP
ftr-309	313	5	fee	fee	NOUN
ftr-309	313	6	is	be	AUX
ftr-309	313	7	likely	likely	ADJ
ftr-309	313	8	non	non	ADJ
ftr-309	313	9	-	-	ADJ
ftr-309	313	10	qualifying	qualifying	ADJ
ftr-309	313	11	income.66	income.66	NOUN
ftr-309	313	12	some	some	DET
ftr-309	313	13	funds	fund	NOUN
ftr-309	313	14	sponsored	sponsor	VERB
ftr-309	313	15	by	by	ADP
ftr-309	313	16	the	the	DET
ftr-309	313	17	blackstone	blackstone	NOUN
ftr-309	313	18	firm	firm	NOUN
ftr-309	313	19	might	might	AUX
ftr-309	313	20	earn	earn	VERB
ftr-309	313	21	other	other	ADJ
ftr-309	313	22	types	type	NOUN
ftr-309	313	23	of	of	ADP
ftr-309	313	24	non	non	ADJ
ftr-309	313	25	-	-	ADJ
ftr-309	313	26	qualifying	qualifying	ADJ
ftr-309	313	27	income	income	NOUN
ftr-309	313	28	.	.	PUNCT
ftr-309	314	1	for	for	ADP
ftr-309	314	2	example	example	NOUN
ftr-309	314	3	,	,	PUNCT
ftr-309	314	4	if	if	SCONJ
ftr-309	314	5	a	a	DET
ftr-309	314	6	blackstone	blackstone	NOUN
ftr-309	314	7	real	real	ADJ
ftr-309	314	8	-	-	PUNCT
ftr-309	314	9	estate	estate	NOUN
ftr-309	314	10	fund	fund	NOUN
ftr-309	314	11	owns	own	VERB
ftr-309	314	12	and	and	CCONJ
ftr-309	314	13	operates	operate	VERB
ftr-309	314	14	a	a	DET
ftr-309	314	15	hotel	hotel	NOUN
ftr-309	314	16	,	,	PUNCT
ftr-309	314	17	it	it	PRON
ftr-309	314	18	would	would	AUX
ftr-309	314	19	receive	receive	VERB
ftr-309	314	20	non	non	ADJ
ftr-309	314	21	-	-	ADJ
ftr-309	314	22	qualifying	qualifying	ADJ
ftr-309	314	23	income	income	NOUN
ftr-309	314	24	from	from	ADP
ftr-309	314	25	providing	provide	VERB
ftr-309	314	26	services	service	NOUN
ftr-309	314	27	.	.	PUNCT
ftr-309	315	1	some	some	PRON
ftr-309	315	2	of	of	ADP
ftr-309	315	3	the	the	DET
ftr-309	315	4	non	non	ADJ
ftr-309	315	5	-	-	ADJ
ftr-309	315	6	qualifying	qualifying	ADJ
ftr-309	315	7	income	income	NOUN
ftr-309	315	8	earned	earn	VERB
ftr-309	315	9	by	by	ADP
ftr-309	315	10	the	the	DET
ftr-309	315	11	blackstone	blackstone	NOUN
ftr-309	315	12	firm	firm	NOUN
ftr-309	315	13	's	's	PART
ftr-309	315	14	funds	fund	NOUN
ftr-309	315	15	will	will	AUX
ftr-309	315	16	be	be	AUX
ftr-309	315	17	treated	treat	VERB
ftr-309	315	18	as	as	ADP
ftr-309	315	19	income	income	NOUN
ftr-309	315	20	from	from	ADP
ftr-309	315	21	operating	operate	VERB
ftr-309	315	22	a	a	DET
ftr-309	315	23	u.s	u.s	PROPN
ftr-309	315	24	.	.	PROPN
ftr-309	315	25	business	business	NOUN
ftr-309	315	26	,	,	PUNCT
ftr-309	315	27	and	and	CCONJ
ftr-309	315	28	some	some	DET
ftr-309	315	29	non	non	ADJ
ftr-309	315	30	-	-	ADJ
ftr-309	315	31	qualifying	qualifying	ADJ
ftr-309	315	32	income	income	NOUN
ftr-309	315	33	will	will	AUX
ftr-309	315	34	be	be	AUX
ftr-309	315	35	treated	treat	VERB
ftr-309	315	36	as	as	ADP
ftr-309	315	37	income	income	NOUN
ftr-309	315	38	from	from	ADP
ftr-309	315	39	operating	operate	VERB
ftr-309	315	40	a	a	DET
ftr-309	315	41	non	non	ADJ
ftr-309	315	42	-	-	ADJ
ftr-309	315	43	u.s	u.s	ADJ
ftr-309	315	44	.	.	PROPN
ftr-309	315	45	64	64	NUM
ftr-309	315	46	.	.	PUNCT
ftr-309	316	1	i.r.c	i.r.c	NOUN
ftr-309	316	2	.	.	PUNCT
ftr-309	317	1	§	§	PROPN
ftr-309	317	2	702(b	702(b	PROPN
ftr-309	317	3	)	)	PUNCT
ftr-309	317	4	.	.	PUNCT
ftr-309	318	1	65	65	NUM
ftr-309	318	2	.	.	PUNCT
ftr-309	318	3	i.r.c	i.r.c	NOUN
ftr-309	318	4	.	.	PUNCT
ftr-309	319	1	§	§	PROPN
ftr-309	319	2	7704(d	7704(d	NUM
ftr-309	319	3	)	)	PUNCT
ftr-309	319	4	.	.	PUNCT
ftr-309	320	1	66	66	NUM
ftr-309	320	2	.	.	PUNCT
ftr-309	321	1	see	see	VERB
ftr-309	321	2	,	,	PUNCT
ftr-309	321	3	e.g.	e.g.	ADV
ftr-309	321	4	,	,	PUNCT
ftr-309	321	5	fleischer	fleischer	NOUN
ftr-309	321	6	,	,	PUNCT
ftr-309	321	7	taxing	tax	VERB
ftr-309	321	8	blackstone	blackstone	NOUN
ftr-309	321	9	,	,	PUNCT
ftr-309	321	10	supra	supra	PROPN
ftr-309	321	11	note	note	PROPN
ftr-309	321	12	1	1	NUM
ftr-309	321	13	,	,	PUNCT
ftr-309	321	14	at	at	ADP
ftr-309	321	15	108	108	NUM
ftr-309	321	16	(	(	PUNCT
ftr-309	321	17	concluding	conclude	VERB
ftr-309	321	18	that	that	SCONJ
ftr-309	321	19	it	it	PRON
ftr-309	321	20	would	would	AUX
ftr-309	321	21	be	be	AUX
ftr-309	321	22	difficult	difficult	ADJ
ftr-309	321	23	to	to	PART
ftr-309	321	24	characterize	characterize	VERB
ftr-309	321	25	break	break	NOUN
ftr-309	321	26	-	-	PUNCT
ftr-309	321	27	up	up	ADP
ftr-309	321	28	fees	fee	NOUN
ftr-309	321	29	as	as	ADP
ftr-309	321	30	qualifying	qualify	VERB
ftr-309	321	31	income	income	NOUN
ftr-309	321	32	)	)	PUNCT
ftr-309	321	33	.	.	PUNCT
ftr-309	322	1	furthermore	furthermore	ADV
ftr-309	322	2	,	,	PUNCT
ftr-309	322	3	in	in	ADP
ftr-309	322	4	plr	plr	NOUN
ftr-309	322	5	200823012	200823012	NUM
ftr-309	322	6	,	,	PUNCT
ftr-309	322	7	the	the	DET
ftr-309	322	8	irs	irs	PROPN
ftr-309	322	9	concluded	conclude	VERB
ftr-309	322	10	that	that	SCONJ
ftr-309	322	11	a	a	DET
ftr-309	322	12	termination	termination	NOUN
ftr-309	322	13	fee	fee	NOUN
ftr-309	322	14	received	receive	VERB
ftr-309	322	15	by	by	ADP
ftr-309	322	16	a	a	DET
ftr-309	322	17	taxpayer	taxpayer	NOUN
ftr-309	322	18	as	as	ADP
ftr-309	322	19	a	a	DET
ftr-309	322	20	result	result	NOUN
ftr-309	322	21	of	of	ADP
ftr-309	322	22	an	an	DET
ftr-309	322	23	abandoned	abandon	VERB
ftr-309	322	24	merger	merger	NOUN
ftr-309	322	25	agreement	agreement	NOUN
ftr-309	322	26	was	be	AUX
ftr-309	322	27	ordinary	ordinary	ADJ
ftr-309	322	28	income	income	NOUN
ftr-309	322	29	rather	rather	ADV
ftr-309	322	30	than	than	ADP
ftr-309	322	31	capital	capital	NOUN
ftr-309	322	32	gain	gain	NOUN
ftr-309	322	33	income	income	NOUN
ftr-309	322	34	.	.	PUNCT
ftr-309	323	1	the	the	DET
ftr-309	323	2	irs	irs	PROPN
ftr-309	323	3	based	base	VERB
ftr-309	323	4	its	its	PRON
ftr-309	323	5	conclusion	conclusion	NOUN
ftr-309	323	6	on	on	ADP
ftr-309	323	7	an	an	DET
ftr-309	323	8	"	"	PUNCT
ftr-309	323	9	origin	origin	NOUN
ftr-309	323	10	-	-	PUNCT
ftr-309	323	11	of	of	ADP
ftr-309	323	12	-	-	PUNCT
ftr-309	323	13	theclaim	theclaim	NOUN
ftr-309	323	14	"	"	PUNCT
ftr-309	323	15	analysis	analysis	NOUN
ftr-309	323	16	.	.	PUNCT
ftr-309	324	1	in	in	ADP
ftr-309	324	2	particular	particular	ADJ
ftr-309	324	3	,	,	PUNCT
ftr-309	324	4	because	because	SCONJ
ftr-309	324	5	the	the	DET
ftr-309	324	6	fee	fee	NOUN
ftr-309	324	7	was	be	AUX
ftr-309	324	8	designed	design	VERB
ftr-309	324	9	to	to	PART
ftr-309	324	10	compensate	compensate	VERB
ftr-309	324	11	the	the	DET
ftr-309	324	12	taxpayer	taxpayer	NOUN
ftr-309	324	13	for	for	ADP
ftr-309	324	14	profits	profit	NOUN
ftr-309	324	15	it	it	PRON
ftr-309	324	16	would	would	AUX
ftr-309	324	17	have	have	AUX
ftr-309	324	18	earned	earn	VERB
ftr-309	324	19	if	if	SCONJ
ftr-309	324	20	the	the	DET
ftr-309	324	21	merger	merger	NOUN
ftr-309	324	22	was	be	AUX
ftr-309	324	23	consummated	consummate	VERB
ftr-309	324	24	and	and	CCONJ
ftr-309	324	25	because	because	SCONJ
ftr-309	324	26	such	such	ADJ
ftr-309	324	27	profits	profit	NOUN
ftr-309	324	28	would	would	AUX
ftr-309	324	29	have	have	AUX
ftr-309	324	30	been	be	AUX
ftr-309	324	31	ordinary	ordinary	ADJ
ftr-309	324	32	income	income	NOUN
ftr-309	324	33	,	,	PUNCT
ftr-309	324	34	the	the	DET
ftr-309	324	35	termination	termination	NOUN
ftr-309	324	36	fee	fee	NOUN
ftr-309	324	37	was	be	AUX
ftr-309	324	38	ordinary	ordinary	ADJ
ftr-309	324	39	income	income	NOUN
ftr-309	324	40	.	.	PUNCT
ftr-309	325	1	however	however	ADV
ftr-309	325	2	,	,	PUNCT
ftr-309	325	3	it	it	PRON
ftr-309	325	4	should	should	AUX
ftr-309	325	5	be	be	AUX
ftr-309	325	6	noted	note	VERB
ftr-309	325	7	that	that	SCONJ
ftr-309	325	8	some	some	PRON
ftr-309	325	9	would	would	AUX
ftr-309	325	10	characterize	characterize	VERB
ftr-309	325	11	break	break	NOUN
ftr-309	325	12	-	-	PUNCT
ftr-309	325	13	up	up	ADP
ftr-309	325	14	fees	fee	NOUN
ftr-309	325	15	resulting	result	VERB
ftr-309	325	16	from	from	ADP
ftr-309	325	17	a	a	DET
ftr-309	325	18	failure	failure	NOUN
ftr-309	325	19	to	to	PART
ftr-309	325	20	purchase	purchase	VERB
ftr-309	325	21	stock	stock	NOUN
ftr-309	325	22	as	as	ADP
ftr-309	325	23	compensating	compensate	VERB
ftr-309	325	24	a	a	DET
ftr-309	325	25	taxpayer	taxpayer	NOUN
ftr-309	325	26	for	for	ADP
ftr-309	325	27	lost	lose	VERB
ftr-309	325	28	profits	profit	NOUN
ftr-309	325	29	on	on	ADP
ftr-309	325	30	a	a	DET
ftr-309	325	31	stock	stock	NOUN
ftr-309	325	32	investment	investment	NOUN
ftr-309	325	33	.	.	PUNCT
ftr-309	326	1	see	see	VERB
ftr-309	326	2	,	,	PUNCT
ftr-309	326	3	e.g.	e.g.	ADV
ftr-309	326	4	,	,	PUNCT
ftr-309	326	5	other	other	ADJ
ftr-309	326	6	pass	pass	VERB
ftr-309	326	7	through	through	ADP
ftr-309	326	8	entities	entity	NOUN
ftr-309	326	9	,	,	PUNCT
ftr-309	326	10	735	735	NUM
ftr-309	326	11	-	-	PUNCT
ftr-309	326	12	2d	2d	NUM
ftr-309	326	13	tax	tax	NOUN
ftr-309	326	14	mgmt	mgmt	NOUN
ftr-309	326	15	.	.	PUNCT
ftr-309	327	1	(	(	PUNCT
ftr-309	327	2	bna	bna	PROPN
ftr-309	327	3	)	)	PUNCT
ftr-309	327	4	vii	vii	PROPN
ftr-309	327	5	-	-	PUNCT
ftr-309	327	6	c	c	PROPN
ftr-309	327	7	(	(	PUNCT
ftr-309	327	8	"	"	PUNCT
ftr-309	327	9	the	the	DET
ftr-309	327	10	tax	tax	NOUN
ftr-309	327	11	issue	issue	NOUN
ftr-309	327	12	,	,	PUNCT
ftr-309	327	13	therefore	therefore	ADV
ftr-309	327	14	,	,	PUNCT
ftr-309	327	15	is	be	AUX
ftr-309	327	16	whether	whether	SCONJ
ftr-309	327	17	a	a	DET
ftr-309	327	18	break	break	VERB
ftr-309	327	19	-	-	PUNCT
ftr-309	327	20	up	up	ADP
ftr-309	327	21	fee	fee	NOUN
ftr-309	327	22	reimburses	reimburse	VERB
ftr-309	327	23	the	the	DET
ftr-309	327	24	fund	fund	NOUN
ftr-309	327	25	for	for	ADP
ftr-309	327	26	lost	lose	VERB
ftr-309	327	27	profits	profit	NOUN
ftr-309	327	28	on	on	ADP
ftr-309	327	29	a	a	DET
ftr-309	327	30	stock	stock	NOUN
ftr-309	327	31	investment	investment	NOUN
ftr-309	327	32	.	.	PUNCT
ftr-309	328	1	if	if	SCONJ
ftr-309	328	2	so	so	ADV
ftr-309	328	3	,	,	PUNCT
ftr-309	328	4	then	then	ADV
ftr-309	328	5	the	the	DET
ftr-309	328	6	break	break	NOUN
ftr-309	328	7	-	-	PUNCT
ftr-309	328	8	up	up	ADP
ftr-309	328	9	fee	fee	NOUN
ftr-309	328	10	is	be	AUX
ftr-309	328	11	a	a	DET
ftr-309	328	12	surrogate	surrogate	NOUN
ftr-309	328	13	for	for	ADP
ftr-309	328	14	capital	capital	NOUN
ftr-309	328	15	gain	gain	NOUN
ftr-309	328	16	.	.	PUNCT
ftr-309	328	17	.	.	PUNCT
ftr-309	328	18	.	.	PUNCT
ftr-309	328	19	.	.	PUNCT
ftr-309	329	1	"	"	PUNCT
ftr-309	329	2	)	)	PUNCT
ftr-309	329	3	.	.	PUNCT
ftr-309	330	1	under	under	ADP
ftr-309	330	2	this	this	DET
ftr-309	330	3	view	view	NOUN
ftr-309	330	4	,	,	PUNCT
ftr-309	330	5	at	at	ADP
ftr-309	330	6	least	least	ADJ
ftr-309	330	7	some	some	DET
ftr-309	330	8	break	break	NOUN
ftr-309	330	9	-	-	PUNCT
ftr-309	330	10	up	up	ADP
ftr-309	330	11	fees	fee	NOUN
ftr-309	330	12	could	could	AUX
ftr-309	330	13	be	be	AUX
ftr-309	330	14	qualifying	qualify	VERB
ftr-309	330	15	income	income	NOUN
ftr-309	330	16	.	.	PUNCT
ftr-309	331	1	67	67	NUM
ftr-309	331	2	.	.	PUNCT
ftr-309	331	3	income	income	NOUN
ftr-309	331	4	from	from	ADP
ftr-309	331	5	providing	provide	VERB
ftr-309	331	6	services	service	NOUN
ftr-309	331	7	is	be	AUX
ftr-309	331	8	not	not	PART
ftr-309	331	9	a	a	DET
ftr-309	331	10	type	type	NOUN
ftr-309	331	11	of	of	ADP
ftr-309	331	12	qualifying	qualify	VERB
ftr-309	331	13	income	income	NOUN
ftr-309	331	14	.	.	PUNCT
ftr-309	332	1	i.r.c	i.r.c	NOUN
ftr-309	332	2	.	.	PUNCT
ftr-309	333	1	§	§	PROPN
ftr-309	333	2	7704(d	7704(d	NUM
ftr-309	333	3	)	)	PUNCT
ftr-309	333	4	.	.	PUNCT
ftr-309	334	1	if	if	SCONJ
ftr-309	334	2	the	the	DET
ftr-309	334	3	blackstone	blackstone	NOUN
ftr-309	334	4	firm	firm	NOUN
ftr-309	334	5	's	's	PART
ftr-309	334	6	funds	fund	NOUN
ftr-309	334	7	hold	hold	VERB
ftr-309	334	8	interests	interest	NOUN
ftr-309	334	9	in	in	ADP
ftr-309	334	10	hotels	hotel	NOUN
ftr-309	334	11	through	through	ADP
ftr-309	334	12	entities	entity	NOUN
ftr-309	334	13	treated	treat	VERB
ftr-309	334	14	as	as	ADP
ftr-309	334	15	corporations	corporation	NOUN
ftr-309	334	16	for	for	ADP
ftr-309	334	17	tax	tax	NOUN
ftr-309	334	18	purposes	purpose	NOUN
ftr-309	334	19	,	,	PUNCT
ftr-309	334	20	however	however	ADV
ftr-309	334	21	,	,	PUNCT
ftr-309	334	22	carried	carry	VERB
ftr-309	334	23	interest	interest	NOUN
ftr-309	334	24	received	receive	VERB
ftr-309	334	25	with	with	ADP
ftr-309	334	26	respect	respect	NOUN
ftr-309	334	27	to	to	ADP
ftr-309	334	28	the	the	DET
ftr-309	334	29	hotels	hotel	NOUN
ftr-309	334	30	could	could	AUX
ftr-309	334	31	be	be	AUX
ftr-309	334	32	qualifying	qualify	VERB
ftr-309	334	33	income	income	NOUN
ftr-309	334	34	(	(	PUNCT
ftr-309	334	35	in	in	ADP
ftr-309	334	36	particular	particular	ADJ
ftr-309	334	37	,	,	PUNCT
ftr-309	334	38	dividend	dividend	NOUN
ftr-309	334	39	income	income	NOUN
ftr-309	334	40	and	and	CCONJ
ftr-309	334	41	capital	capital	NOUN
ftr-309	334	42	gain	gain	NOUN
ftr-309	334	43	income	income	NOUN
ftr-309	334	44	received	receive	VERB
ftr-309	334	45	from	from	ADP
ftr-309	334	46	the	the	DET
ftr-309	334	47	corporations	corporation	NOUN
ftr-309	334	48	)	)	PUNCT
ftr-309	334	49	.	.	PUNCT
ftr-309	335	1	yet	yet	ADV
ftr-309	335	2	,	,	PUNCT
ftr-309	335	3	if	if	SCONJ
ftr-309	335	4	the	the	DET
ftr-309	335	5	blackstone	blackstone	NOUN
ftr-309	335	6	firm	firm	NOUN
ftr-309	335	7	's	's	PART
ftr-309	335	8	funds	fund	NOUN
ftr-309	335	9	hold	hold	VERB
ftr-309	335	10	interests	interest	NOUN
ftr-309	335	11	in	in	ADP
ftr-309	335	12	hotels	hotel	NOUN
ftr-309	335	13	through	through	ADP
ftr-309	335	14	corporations	corporation	NOUN
ftr-309	335	15	,	,	PUNCT
ftr-309	335	16	it	it	PRON
ftr-309	335	17	is	be	AUX
ftr-309	335	18	possible	possible	ADJ
ftr-309	335	19	that	that	SCONJ
ftr-309	335	20	the	the	DET
ftr-309	335	21	blackstone	blackstone	NOUN
ftr-309	335	22	firm	firm	NOUN
ftr-309	335	23	receives	receive	VERB
ftr-309	335	24	carried	carry	VERB
ftr-309	335	25	interest	interest	NOUN
ftr-309	335	26	with	with	ADP
ftr-309	335	27	respect	respect	NOUN
ftr-309	335	28	to	to	ADP
ftr-309	335	29	the	the	DET
ftr-309	335	30	hotel	hotel	NOUN
ftr-309	335	31	through	through	ADP
ftr-309	335	32	an	an	DET
ftr-309	335	33	entity	entity	NOUN
ftr-309	335	34	formed	form	VERB
ftr-309	335	35	between	between	ADP
ftr-309	335	36	the	the	DET
ftr-309	335	37	corporation	corporation	NOUN
ftr-309	335	38	and	and	CCONJ
ftr-309	335	39	the	the	DET
ftr-309	335	40	hotel	hotel	NOUN
ftr-309	335	41	that	that	PRON
ftr-309	335	42	is	be	AUX
ftr-309	335	43	treated	treat	VERB
ftr-309	335	44	as	as	ADP
ftr-309	335	45	a	a	DET
ftr-309	335	46	partnership	partnership	NOUN
ftr-309	335	47	for	for	ADP
ftr-309	335	48	tax	tax	NOUN
ftr-309	335	49	purposes	purpose	NOUN
ftr-309	335	50	.	.	PUNCT
ftr-309	336	1	in	in	ADP
ftr-309	336	2	that	that	DET
ftr-309	336	3	case	case	NOUN
ftr-309	336	4	,	,	PUNCT
ftr-309	336	5	the	the	DET
ftr-309	336	6	carried	carry	VERB
ftr-309	336	7	interest	interest	NOUN
ftr-309	336	8	would	would	AUX
ftr-309	336	9	be	be	AUX
ftr-309	336	10	treated	treat	VERB
ftr-309	336	11	as	as	ADP
ftr-309	336	12	services	service	NOUN
ftr-309	336	13	income	income	NOUN
ftr-309	336	14	and	and	CCONJ
ftr-309	336	15	,	,	PUNCT
ftr-309	336	16	in	in	ADP
ftr-309	336	17	turn	turn	NOUN
ftr-309	336	18	,	,	PUNCT
ftr-309	336	19	non	non	ADJ
ftr-309	336	20	-	-	ADJ
ftr-309	336	21	qualifying	qualifying	ADJ
ftr-309	336	22	income	income	NOUN
ftr-309	336	23	.	.	PUNCT
ftr-309	337	1	167	167	NUM
ftr-309	337	2	florida	florida	PROPN
ftr-309	337	3	tax	tax	NOUN
ftr-309	337	4	review	review	NOUN
ftr-309	337	5	business	business	NOUN
ftr-309	337	6	.	.	PUNCT
ftr-309	338	1	for	for	ADP
ftr-309	338	2	instance	instance	NOUN
ftr-309	338	3	,	,	PUNCT
ftr-309	338	4	depending	depend	VERB
ftr-309	338	5	on	on	ADP
ftr-309	338	6	the	the	DET
ftr-309	338	7	facts	fact	NOUN
ftr-309	338	8	,	,	PUNCT
ftr-309	338	9	break	break	NOUN
ftr-309	338	10	-	-	PUNCT
ftr-309	338	11	up	up	ADP
ftr-309	338	12	fees	fee	NOUN
ftr-309	338	13	could	could	AUX
ftr-309	338	14	be	be	AUX
ftr-309	338	15	treated	treat	VERB
ftr-309	338	16	as	as	ADP
ftr-309	338	17	non	non	ADJ
ftr-309	338	18	-	-	ADJ
ftr-309	338	19	qualifying	qualifying	ADJ
ftr-309	338	20	income	income	NOUN
ftr-309	338	21	from	from	ADP
ftr-309	338	22	operating	operate	VERB
ftr-309	338	23	a	a	DET
ftr-309	338	24	u.s	u.s	PROPN
ftr-309	338	25	.	.	PROPN
ftr-309	338	26	business	business	NOUN
ftr-309	338	27	or	or	CCONJ
ftr-309	338	28	as	as	ADP
ftr-309	338	29	nonqualifying	nonqualifye	VERB
ftr-309	338	30	income	income	NOUN
ftr-309	338	31	from	from	ADP
ftr-309	338	32	operating	operate	VERB
ftr-309	338	33	a	a	DET
ftr-309	338	34	non	non	ADJ
ftr-309	338	35	-	-	ADJ
ftr-309	338	36	u.s	u.s	PROPN
ftr-309	338	37	.	.	PROPN
ftr-309	338	38	business.68	business.68	PROPN
ftr-309	338	39	likewise	likewise	ADV
ftr-309	338	40	,	,	PUNCT
ftr-309	338	41	nonqualifying	nonqualifying	NOUN
ftr-309	338	42	services	service	NOUN
ftr-309	338	43	income	income	NOUN
ftr-309	338	44	from	from	ADP
ftr-309	338	45	operating	operate	VERB
ftr-309	338	46	a	a	DET
ftr-309	338	47	hotel	hotel	NOUN
ftr-309	338	48	could	could	AUX
ftr-309	338	49	be	be	AUX
ftr-309	338	50	treated	treat	VERB
ftr-309	338	51	as	as	ADP
ftr-309	338	52	income	income	NOUN
ftr-309	338	53	from	from	ADP
ftr-309	338	54	operating	operate	VERB
ftr-309	338	55	a	a	DET
ftr-309	338	56	u.s	u.s	PROPN
ftr-309	338	57	.	.	PROPN
ftr-309	338	58	business	business	NOUN
ftr-309	338	59	or	or	CCONJ
ftr-309	338	60	as	as	ADP
ftr-309	338	61	income	income	NOUN
ftr-309	338	62	from	from	ADP
ftr-309	338	63	operating	operate	VERB
ftr-309	338	64	a	a	DET
ftr-309	338	65	non	non	ADJ
ftr-309	338	66	-	-	ADJ
ftr-309	338	67	u.s	u.s	ADJ
ftr-309	338	68	.	.	PROPN
ftr-309	338	69	business	business	NOUN
ftr-309	338	70	depending	depend	VERB
ftr-309	338	71	on	on	ADP
ftr-309	338	72	where	where	SCONJ
ftr-309	338	73	the	the	DET
ftr-309	338	74	hotel	hotel	NOUN
ftr-309	338	75	is	be	AUX
ftr-309	338	76	located	locate	VERB
ftr-309	338	77	and	and	CCONJ
ftr-309	338	78	other	other	ADJ
ftr-309	338	79	facts.6	facts.6	PROPN
ftr-309	338	80	9	9	NUM
ftr-309	338	81	in	in	ADP
ftr-309	338	82	summary	summary	NOUN
ftr-309	338	83	,	,	PUNCT
ftr-309	338	84	first	first	ADV
ftr-309	338	85	,	,	PUNCT
ftr-309	338	86	some	some	PRON
ftr-309	338	87	of	of	ADP
ftr-309	338	88	the	the	DET
ftr-309	338	89	carried	carry	VERB
ftr-309	338	90	interest	interest	NOUN
ftr-309	338	91	allocated	allocate	VERB
ftr-309	338	92	by	by	ADP
ftr-309	338	93	the	the	DET
ftr-309	338	94	underlying	underlie	VERB
ftr-309	338	95	partnership	partnership	NOUN
ftr-309	338	96	to	to	ADP
ftr-309	338	97	its	its	PRON
ftr-309	338	98	partners	partner	NOUN
ftr-309	338	99	will	will	AUX
ftr-309	338	100	be	be	AUX
ftr-309	338	101	qualifying	qualify	VERB
ftr-309	338	102	income	income	NOUN
ftr-309	338	103	.	.	PUNCT
ftr-309	339	1	carried	carry	VERB
ftr-309	339	2	interest	interest	NOUN
ftr-309	339	3	in	in	ADP
ftr-309	339	4	this	this	DET
ftr-309	339	5	first	first	ADJ
ftr-309	339	6	category	category	NOUN
ftr-309	339	7	includes	include	VERB
ftr-309	339	8	,	,	PUNCT
ftr-309	339	9	for	for	ADP
ftr-309	339	10	instance	instance	NOUN
ftr-309	339	11	,	,	PUNCT
ftr-309	339	12	the	the	DET
ftr-309	339	13	portion	portion	NOUN
ftr-309	339	14	of	of	ADP
ftr-309	339	15	carried	carry	VERB
ftr-309	339	16	interest	interest	NOUN
ftr-309	339	17	that	that	PRON
ftr-309	339	18	consists	consist	VERB
ftr-309	339	19	of	of	ADP
ftr-309	339	20	dividend	dividend	NOUN
ftr-309	339	21	income	income	NOUN
ftr-309	339	22	,	,	PUNCT
ftr-309	339	23	interest	interest	NOUN
ftr-309	339	24	income	income	NOUN
ftr-309	339	25	,	,	PUNCT
ftr-309	339	26	and	and	CCONJ
ftr-309	339	27	capital	capital	NOUN
ftr-309	339	28	gain	gain	NOUN
ftr-309	339	29	income	income	NOUN
ftr-309	339	30	.	.	PUNCT
ftr-309	340	1	second	second	ADJ
ftr-309	340	2	,	,	PUNCT
ftr-309	340	3	some	some	PRON
ftr-309	340	4	of	of	ADP
ftr-309	340	5	the	the	DET
ftr-309	340	6	carried	carry	VERB
ftr-309	340	7	interest	interest	NOUN
ftr-309	340	8	will	will	AUX
ftr-309	340	9	be	be	AUX
ftr-309	340	10	non	non	ADJ
ftr-309	340	11	-	-	ADJ
ftr-309	340	12	qualifying	qualifying	ADJ
ftr-309	340	13	income	income	NOUN
ftr-309	340	14	attributable	attributable	ADJ
ftr-309	340	15	to	to	ADP
ftr-309	340	16	a	a	DET
ftr-309	340	17	u.s	u.s	PROPN
ftr-309	340	18	.	.	PROPN
ftr-309	340	19	business	business	NOUN
ftr-309	340	20	.	.	PUNCT
ftr-309	341	1	carried	carry	VERB
ftr-309	341	2	interest	interest	NOUN
ftr-309	341	3	in	in	ADP
ftr-309	341	4	this	this	DET
ftr-309	341	5	second	second	ADJ
ftr-309	341	6	category	category	NOUN
ftr-309	341	7	includes	include	VERB
ftr-309	341	8	services	service	NOUN
ftr-309	341	9	income	income	NOUN
ftr-309	341	10	from	from	ADP
ftr-309	341	11	operating	operate	VERB
ftr-309	341	12	a	a	DET
ftr-309	341	13	u.s	u.s	PROPN
ftr-309	341	14	.	.	PROPN
ftr-309	341	15	hotel	hotel	NOUN
ftr-309	341	16	or	or	CCONJ
ftr-309	341	17	break	break	NOUN
ftr-309	341	18	-	-	PUNCT
ftr-309	341	19	up	up	ADP
ftr-309	341	20	fees	fee	NOUN
ftr-309	341	21	from	from	ADP
ftr-309	341	22	failing	fail	VERB
ftr-309	341	23	to	to	PART
ftr-309	341	24	acquire	acquire	VERB
ftr-309	341	25	a	a	DET
ftr-309	341	26	u.s	u.s	PROPN
ftr-309	341	27	.	.	PROPN
ftr-309	341	28	business	business	NOUN
ftr-309	341	29	.	.	PUNCT
ftr-309	342	1	third	third	ADJ
ftr-309	342	2	,	,	PUNCT
ftr-309	342	3	some	some	PRON
ftr-309	342	4	of	of	ADP
ftr-309	342	5	the	the	DET
ftr-309	342	6	carried	carry	VERB
ftr-309	342	7	interest	interest	NOUN
ftr-309	342	8	will	will	AUX
ftr-309	342	9	be	be	AUX
ftr-309	342	10	non	non	ADJ
ftr-309	342	11	-	-	ADJ
ftr-309	342	12	qualifying	qualifying	ADJ
ftr-309	342	13	income	income	NOUN
ftr-309	342	14	attributable	attributable	ADJ
ftr-309	342	15	to	to	ADP
ftr-309	342	16	a	a	DET
ftr-309	342	17	non	non	ADJ
ftr-309	342	18	-	-	ADJ
ftr-309	342	19	u.s	u.s	ADJ
ftr-309	342	20	.	.	PROPN
ftr-309	342	21	business	business	NOUN
ftr-309	342	22	.	.	PUNCT
ftr-309	343	1	carried	carry	VERB
ftr-309	343	2	interest	interest	NOUN
ftr-309	343	3	in	in	ADP
ftr-309	343	4	this	this	DET
ftr-309	343	5	third	third	ADJ
ftr-309	343	6	category	category	NOUN
ftr-309	343	7	includes	include	VERB
ftr-309	343	8	services	service	NOUN
ftr-309	343	9	income	income	NOUN
ftr-309	343	10	from	from	ADP
ftr-309	343	11	operating	operate	VERB
ftr-309	343	12	a	a	DET
ftr-309	343	13	non	non	ADJ
ftr-309	343	14	-	-	ADJ
ftr-309	343	15	u.s	u.s	PROPN
ftr-309	343	16	.	.	PROPN
ftr-309	343	17	hotel	hotel	NOUN
ftr-309	343	18	or	or	CCONJ
ftr-309	343	19	break	break	NOUN
ftr-309	343	20	-	-	PUNCT
ftr-309	343	21	up	up	ADP
ftr-309	343	22	fees	fee	NOUN
ftr-309	343	23	from	from	ADP
ftr-309	343	24	failing	fail	VERB
ftr-309	343	25	to	to	PART
ftr-309	343	26	acquire	acquire	VERB
ftr-309	343	27	a	a	DET
ftr-309	343	28	non	non	ADJ
ftr-309	343	29	-	-	ADJ
ftr-309	343	30	u.s	u.s	ADJ
ftr-309	343	31	.	.	PROPN
ftr-309	343	32	business	business	NOUN
ftr-309	343	33	.	.	PUNCT
ftr-309	344	1	the	the	DET
ftr-309	344	2	underlying	underlie	VERB
ftr-309	344	3	partnership	partnership	NOUN
ftr-309	344	4	allocates	allocate	VERB
ftr-309	344	5	qualifying	qualify	VERB
ftr-309	344	6	carried	carry	VERB
ftr-309	344	7	interest	interest	NOUN
ftr-309	344	8	directly	directly	ADV
ftr-309	344	9	to	to	ADP
ftr-309	344	10	blackstone	blackstone	NOUN
ftr-309	344	11	group	group	NOUN
ftr-309	344	12	lp.7o	lp.7o	PROPN
ftr-309	345	1	because	because	SCONJ
ftr-309	345	2	income	income	NOUN
ftr-309	345	3	allocated	allocate	VERB
ftr-309	345	4	by	by	ADP
ftr-309	345	5	a	a	DET
ftr-309	345	6	partnership	partnership	NOUN
ftr-309	345	7	to	to	ADP
ftr-309	345	8	a	a	DET
ftr-309	345	9	partner	partner	NOUN
ftr-309	345	10	retains	retain	VERB
ftr-309	345	11	its	its	PRON
ftr-309	345	12	character	character	NOUN
ftr-309	345	13	in	in	ADP
ftr-309	345	14	the	the	DET
ftr-309	345	15	hands	hand	NOUN
ftr-309	345	16	of	of	ADP
ftr-309	345	17	the	the	DET
ftr-309	345	18	partner	partner	NOUN
ftr-309	345	19	,	,	PUNCT
ftr-309	345	20	blackstone	blackstone	NOUN
ftr-309	345	21	group	group	NOUN
ftr-309	345	22	lp	lp	PROPN
ftr-309	345	23	recognizes	recognize	VERB
ftr-309	345	24	qualifying	qualify	VERB
ftr-309	345	25	income	income	NOUN
ftr-309	345	26	as	as	ADP
ftr-309	345	27	a	a	DET
ftr-309	345	28	result	result	NOUN
ftr-309	345	29	of	of	ADP
ftr-309	345	30	this	this	DET
ftr-309	345	31	allocation.7	allocation.7	PROPN
ftr-309	345	32	'	'	PART
ftr-309	345	33	the	the	DET
ftr-309	345	34	underlying	underlie	VERB
ftr-309	345	35	partnership	partnership	NOUN
ftr-309	345	36	allocates	allocate	NOUN
ftr-309	345	37	carried	carry	VERB
ftr-309	345	38	interest	interest	NOUN
ftr-309	345	39	that	that	PRON
ftr-309	345	40	consists	consist	VERB
ftr-309	345	41	of	of	ADP
ftr-309	345	42	non	non	ADJ
ftr-309	345	43	-	-	ADJ
ftr-309	345	44	qualifying	qualifying	ADJ
ftr-309	345	45	income	income	NOUN
ftr-309	345	46	that	that	PRON
ftr-309	345	47	is	be	AUX
ftr-309	345	48	u.s	u.s	PROPN
ftr-309	345	49	.	.	PROPN
ftr-309	345	50	business	business	NOUN
ftr-309	345	51	income	income	NOUN
ftr-309	345	52	to	to	ADP
ftr-309	345	53	u.s	u.s	PROPN
ftr-309	345	54	.	.	PROPN
ftr-309	345	55	subsidiary.7	subsidiary.7	NOUN
ftr-309	345	56	2	2	NUM
ftr-309	345	57	the	the	DET
ftr-309	345	58	underlying	underlie	VERB
ftr-309	345	59	partnership	partnership	NOUN
ftr-309	345	60	also	also	ADV
ftr-309	345	61	pays	pay	VERB
ftr-309	345	62	management	management	NOUN
ftr-309	345	63	fees	fee	NOUN
ftr-309	345	64	to	to	ADP
ftr-309	345	65	u.s	u.s	PROPN
ftr-309	345	66	.	.	PROPN
ftr-309	345	67	subsidiary.73	subsidiary.73	PROPN
ftr-309	345	68	as	as	SCONJ
ftr-309	345	69	discussed	discuss	VERB
ftr-309	345	70	above	above	ADV
ftr-309	345	71	,	,	PUNCT
ftr-309	345	72	u.s	u.s	PROPN
ftr-309	345	73	.	.	PROPN
ftr-309	345	74	subsidiary	subsidiary	NOUN
ftr-309	345	75	will	will	AUX
ftr-309	345	76	be	be	AUX
ftr-309	345	77	subject	subject	ADJ
ftr-309	345	78	to	to	ADP
ftr-309	345	79	entitylevel	entitylevel	ADJ
ftr-309	345	80	tax	tax	NOUN
ftr-309	345	81	on	on	ADP
ftr-309	345	82	this	this	DET
ftr-309	345	83	income	income	NOUN
ftr-309	345	84	,	,	PUNCT
ftr-309	345	85	possibly	possibly	ADV
ftr-309	345	86	reduced	reduce	VERB
ftr-309	345	87	by	by	ADP
ftr-309	345	88	interest	interest	NOUN
ftr-309	345	89	expense	expense	NOUN
ftr-309	345	90	resulting	result	VERB
ftr-309	345	91	from	from	ADP
ftr-309	345	92	interest	interest	NOUN
ftr-309	345	93	that	that	SCONJ
ftr-309	345	94	it	it	PRON
ftr-309	345	95	may	may	AUX
ftr-309	345	96	pay	pay	VERB
ftr-309	345	97	to	to	ADP
ftr-309	345	98	blackstone	blackstone	NOUN
ftr-309	345	99	group	group	PROPN
ftr-309	345	100	lp.74	lp.74	VERB
ftr-309	345	101	the	the	DET
ftr-309	345	102	underlying	underlie	VERB
ftr-309	345	103	partnership	partnership	NOUN
ftr-309	345	104	allocates	allocate	NOUN
ftr-309	345	105	carried	carry	VERB
ftr-309	345	106	interest	interest	NOUN
ftr-309	345	107	that	that	PRON
ftr-309	345	108	consists	consist	VERB
ftr-309	345	109	of	of	ADP
ftr-309	345	110	non	non	ADJ
ftr-309	345	111	-	-	ADJ
ftr-309	345	112	qualifying	qualifying	ADJ
ftr-309	345	113	income	income	NOUN
ftr-309	345	114	that	that	PRON
ftr-309	345	115	is	be	AUX
ftr-309	345	116	non	non	ADJ
ftr-309	345	117	-	-	ADJ
ftr-309	345	118	u.s	u.s	ADJ
ftr-309	345	119	.	.	PROPN
ftr-309	345	120	business	business	NOUN
ftr-309	345	121	income	income	NOUN
ftr-309	345	122	to	to	ADP
ftr-309	345	123	non	non	ADJ
ftr-309	345	124	-	-	ADJ
ftr-309	345	125	u.s	u.s	PROPN
ftr-309	345	126	.	.	PROPN
ftr-309	345	127	subsidiary.75	subsidiary.75	NOUN
ftr-309	345	128	as	as	SCONJ
ftr-309	345	129	discussed	discuss	VERB
ftr-309	345	130	above	above	ADV
ftr-309	345	131	,	,	PUNCT
ftr-309	345	132	non	non	ADJ
ftr-309	345	133	-	-	ADJ
ftr-309	345	134	u.s	u.s	PROPN
ftr-309	345	135	.	.	PROPN
ftr-309	345	136	subsidiary	subsidiary	NOUN
ftr-309	345	137	will	will	AUX
ftr-309	345	138	not	not	PART
ftr-309	345	139	be	be	AUX
ftr-309	345	140	subject	subject	ADJ
ftr-309	345	141	to	to	ADP
ftr-309	345	142	entity	entity	NOUN
ftr-309	345	143	-	-	PUNCT
ftr-309	345	144	level	level	NOUN
ftr-309	345	145	tax	tax	NOUN
ftr-309	345	146	on	on	ADP
ftr-309	345	147	this	this	DET
ftr-309	345	148	income.76	income.76	PROPN
ftr-309	345	149	68	68	NUM
ftr-309	345	150	.	.	PUNCT
ftr-309	346	1	under	under	ADP
ftr-309	346	2	an	an	DET
ftr-309	346	3	origin	origin	NOUN
ftr-309	346	4	-	-	PUNCT
ftr-309	346	5	of	of	ADP
ftr-309	346	6	-	-	PUNCT
ftr-309	346	7	the	the	DET
ftr-309	346	8	-	-	PUNCT
ftr-309	346	9	claim	claim	NOUN
ftr-309	346	10	analysis	analysis	NOUN
ftr-309	346	11	,	,	PUNCT
ftr-309	346	12	the	the	DET
ftr-309	346	13	break	break	NOUN
ftr-309	346	14	-	-	PUNCT
ftr-309	346	15	up	up	ADP
ftr-309	346	16	fee	fee	NOUN
ftr-309	346	17	could	could	AUX
ftr-309	346	18	be	be	AUX
ftr-309	346	19	treated	treat	VERB
ftr-309	346	20	as	as	ADP
ftr-309	346	21	income	income	NOUN
ftr-309	346	22	from	from	ADP
ftr-309	346	23	operating	operate	VERB
ftr-309	346	24	a	a	DET
ftr-309	346	25	u.s	u.s	PROPN
ftr-309	346	26	.	.	PROPN
ftr-309	346	27	business	business	NOUN
ftr-309	346	28	if	if	SCONJ
ftr-309	346	29	the	the	DET
ftr-309	346	30	company	company	NOUN
ftr-309	346	31	to	to	PART
ftr-309	346	32	be	be	AUX
ftr-309	346	33	acquired	acquire	VERB
ftr-309	346	34	operated	operate	VERB
ftr-309	346	35	a	a	DET
ftr-309	346	36	u.s	u.s	PROPN
ftr-309	346	37	.	.	PROPN
ftr-309	346	38	business	business	NOUN
ftr-309	346	39	.	.	PUNCT
ftr-309	347	1	if	if	SCONJ
ftr-309	347	2	,	,	PUNCT
ftr-309	347	3	instead	instead	ADV
ftr-309	347	4	,	,	PUNCT
ftr-309	347	5	the	the	DET
ftr-309	347	6	company	company	NOUN
ftr-309	347	7	operated	operate	VERB
ftr-309	347	8	a	a	DET
ftr-309	347	9	non	non	ADJ
ftr-309	347	10	-	-	ADJ
ftr-309	347	11	u.s	u.s	ADJ
ftr-309	347	12	.	.	PROPN
ftr-309	347	13	business	business	NOUN
ftr-309	347	14	,	,	PUNCT
ftr-309	347	15	the	the	DET
ftr-309	347	16	break	break	NOUN
ftr-309	347	17	-	-	PUNCT
ftr-309	347	18	up	up	ADP
ftr-309	347	19	fee	fee	NOUN
ftr-309	347	20	could	could	AUX
ftr-309	347	21	be	be	AUX
ftr-309	347	22	treated	treat	VERB
ftr-309	347	23	as	as	ADP
ftr-309	347	24	income	income	NOUN
ftr-309	347	25	from	from	ADP
ftr-309	347	26	operating	operate	VERB
ftr-309	347	27	a	a	DET
ftr-309	347	28	non	non	ADJ
ftr-309	347	29	-	-	ADJ
ftr-309	347	30	u.s	u.s	ADJ
ftr-309	347	31	.	.	PROPN
ftr-309	347	32	business	business	NOUN
ftr-309	347	33	.	.	PUNCT
ftr-309	348	1	69	69	NUM
ftr-309	348	2	.	.	PUNCT
ftr-309	349	1	the	the	DET
ftr-309	349	2	source	source	NOUN
ftr-309	349	3	of	of	ADP
ftr-309	349	4	income	income	NOUN
ftr-309	349	5	from	from	ADP
ftr-309	349	6	providing	provide	VERB
ftr-309	349	7	services	service	NOUN
ftr-309	349	8	generally	generally	ADV
ftr-309	349	9	depends	depend	VERB
ftr-309	349	10	on	on	ADP
ftr-309	349	11	where	where	SCONJ
ftr-309	349	12	the	the	DET
ftr-309	349	13	services	service	NOUN
ftr-309	349	14	are	be	AUX
ftr-309	349	15	performed	perform	VERB
ftr-309	349	16	.	.	PUNCT
ftr-309	350	1	see	see	VERB
ftr-309	350	2	i.r.c	i.r.c	NOUN
ftr-309	350	3	.	.	PUNCT
ftr-309	351	1	§	§	PROPN
ftr-309	351	2	§	§	PROPN
ftr-309	351	3	861(a)(3	861(a)(3	NUM
ftr-309	351	4	)	)	PUNCT
ftr-309	351	5	,	,	PUNCT
ftr-309	351	6	862(a)(3	862(a)(3	NUM
ftr-309	351	7	)	)	PUNCT
ftr-309	351	8	.	.	PUNCT
ftr-309	352	1	70	70	NUM
ftr-309	352	2	.	.	PUNCT
ftr-309	353	1	blackstone	blackstone	NOUN
ftr-309	353	2	s-1	s-1	PROPN
ftr-309	353	3	,	,	PUNCT
ftr-309	353	4	supra	supra	PROPN
ftr-309	353	5	note	note	NOUN
ftr-309	353	6	1	1	NUM
ftr-309	353	7	,	,	PUNCT
ftr-309	353	8	at	at	ADP
ftr-309	353	9	202	202	NUM
ftr-309	353	10	-	-	PUNCT
ftr-309	353	11	04	04	NUM
ftr-309	353	12	.	.	PUNCT
ftr-309	354	1	see	see	VERB
ftr-309	354	2	also	also	ADV
ftr-309	354	3	infra	infra	VERB
ftr-309	354	4	appendix	appendix	NOUN
ftr-309	354	5	.	.	PUNCT
ftr-309	355	1	71	71	NUM
ftr-309	355	2	.	.	PUNCT
ftr-309	355	3	i.r.c	i.r.c	NOUN
ftr-309	355	4	.	.	PUNCT
ftr-309	356	1	§	§	PROPN
ftr-309	356	2	702(b	702(b	PROPN
ftr-309	356	3	)	)	PUNCT
ftr-309	356	4	.	.	PUNCT
ftr-309	357	1	72	72	NUM
ftr-309	357	2	.	.	PUNCT
ftr-309	358	1	blackstone	blackstone	NOUN
ftr-309	358	2	s-1	s-1	PROPN
ftr-309	358	3	,	,	PUNCT
ftr-309	358	4	supra	supra	PROPN
ftr-309	358	5	note	note	NOUN
ftr-309	358	6	1	1	NUM
ftr-309	358	7	,	,	PUNCT
ftr-309	358	8	at	at	ADP
ftr-309	358	9	202	202	NUM
ftr-309	358	10	-	-	PUNCT
ftr-309	358	11	04	04	NUM
ftr-309	358	12	.	.	PUNCT
ftr-309	359	1	see	see	VERB
ftr-309	359	2	also	also	ADV
ftr-309	359	3	infra	infra	VERB
ftr-309	359	4	appendix	appendix	NOUN
ftr-309	359	5	.	.	PUNCT
ftr-309	360	1	73	73	NUM
ftr-309	360	2	.	.	PUNCT
ftr-309	361	1	blackstone	blackstone	NOUN
ftr-309	361	2	s-1	s-1	PROPN
ftr-309	361	3	,	,	PUNCT
ftr-309	361	4	supra	supra	PROPN
ftr-309	361	5	note	note	NOUN
ftr-309	361	6	1	1	NUM
ftr-309	361	7	,	,	PUNCT
ftr-309	361	8	at	at	ADP
ftr-309	361	9	202	202	NUM
ftr-309	361	10	-	-	PUNCT
ftr-309	361	11	04	04	NUM
ftr-309	361	12	.	.	PUNCT
ftr-309	362	1	see	see	VERB
ftr-309	362	2	also	also	ADV
ftr-309	362	3	infra	infra	VERB
ftr-309	362	4	appendix	appendix	NOUN
ftr-309	362	5	.	.	PUNCT
ftr-309	363	1	74	74	NUM
ftr-309	363	2	.	.	PUNCT
ftr-309	364	1	see	see	VERB
ftr-309	364	2	supra	supra	PROPN
ftr-309	364	3	part	part	NOUN
ftr-309	364	4	ii.c	ii.c	VERB
ftr-309	364	5	.	.	PUNCT
ftr-309	365	1	75	75	NUM
ftr-309	365	2	.	.	PUNCT
ftr-309	366	1	blackstone	blackstone	NOUN
ftr-309	366	2	s-1	s-1	PROPN
ftr-309	366	3	,	,	PUNCT
ftr-309	366	4	supra	supra	PROPN
ftr-309	366	5	note	note	NOUN
ftr-309	366	6	1	1	NUM
ftr-309	366	7	,	,	PUNCT
ftr-309	366	8	at	at	ADP
ftr-309	366	9	202	202	NUM
ftr-309	366	10	-	-	PUNCT
ftr-309	366	11	04	04	NUM
ftr-309	366	12	.	.	PUNCT
ftr-309	367	1	see	see	VERB
ftr-309	367	2	also	also	ADV
ftr-309	367	3	infra	infra	VERB
ftr-309	367	4	appendix	appendix	NOUN
ftr-309	367	5	.	.	PUNCT
ftr-309	368	1	76	76	NUM
ftr-309	368	2	.	.	PUNCT
ftr-309	369	1	see	see	VERB
ftr-309	369	2	supra	supra	PROPN
ftr-309	369	3	part	part	PROPN
ftr-309	369	4	h.d	h.d	PROPN
ftr-309	369	5	.	.	PROPN
ftr-309	369	6	168	168	NUM
ftr-309	370	1	[	[	X
ftr-309	370	2	vol	vol	NOUN
ftr-309	370	3	.	.	PUNCT
ftr-309	370	4	14:5	14:5	NUM
ftr-309	370	5	2013	2013	NUM
ftr-309	370	6	]	]	PUNCT
ftr-309	370	7	was	be	AUX
ftr-309	370	8	blackstone	blackstone	NOUN
ftr-309	370	9	's	's	PART
ftr-309	370	10	initial	initial	ADJ
ftr-309	370	11	public	public	ADJ
ftr-309	370	12	offering	offering	NOUN
ftr-309	370	13	too	too	ADV
ftr-309	370	14	good	good	ADJ
ftr-309	370	15	to	to	PART
ftr-309	370	16	be	be	AUX
ftr-309	370	17	true	true	ADJ
ftr-309	370	18	?	?	PUNCT
ftr-309	371	1	f.	f.	PROPN
ftr-309	371	2	summary	summary	PROPN
ftr-309	371	3	:	:	PUNCT
ftr-309	371	4	how	how	SCONJ
ftr-309	371	5	the	the	DET
ftr-309	371	6	pieces	piece	NOUN
ftr-309	371	7	come	come	VERB
ftr-309	371	8	together	together	ADV
ftr-309	371	9	if	if	SCONJ
ftr-309	371	10	blackstone	blackstone	NOUN
ftr-309	371	11	group	group	NOUN
ftr-309	371	12	lp	lp	PROPN
ftr-309	371	13	directly	directly	ADV
ftr-309	371	14	earned	earn	VERB
ftr-309	371	15	the	the	DET
ftr-309	371	16	income	income	NOUN
ftr-309	371	17	to	to	PART
ftr-309	371	18	which	which	PRON
ftr-309	371	19	it	it	PRON
ftr-309	371	20	is	be	AUX
ftr-309	371	21	entitled	entitle	VERB
ftr-309	371	22	,	,	PUNCT
ftr-309	371	23	less	less	ADJ
ftr-309	371	24	than	than	ADP
ftr-309	371	25	90	90	NUM
ftr-309	371	26	percent	percent	NOUN
ftr-309	371	27	of	of	ADP
ftr-309	371	28	blackstone	blackstone	NOUN
ftr-309	371	29	group	group	PROPN
ftr-309	371	30	lp	lp	PROPN
ftr-309	371	31	's	's	PART
ftr-309	371	32	income	income	NOUN
ftr-309	371	33	would	would	AUX
ftr-309	371	34	consist	consist	VERB
ftr-309	371	35	of	of	ADP
ftr-309	371	36	qualifying	qualify	VERB
ftr-309	371	37	income	income	NOUN
ftr-309	371	38	,	,	PUNCT
ftr-309	371	39	and	and	CCONJ
ftr-309	371	40	,	,	PUNCT
ftr-309	371	41	as	as	ADP
ftr-309	371	42	a	a	DET
ftr-309	371	43	consequence	consequence	NOUN
ftr-309	371	44	,	,	PUNCT
ftr-309	371	45	blackstone	blackstone	NOUN
ftr-309	371	46	group	group	NOUN
ftr-309	371	47	lp	lp	PROPN
ftr-309	371	48	would	would	AUX
ftr-309	371	49	be	be	AUX
ftr-309	371	50	treated	treat	VERB
ftr-309	371	51	as	as	ADP
ftr-309	371	52	a	a	DET
ftr-309	371	53	corporation	corporation	NOUN
ftr-309	371	54	for	for	ADP
ftr-309	371	55	tax	tax	NOUN
ftr-309	371	56	purposes.77	purposes.77	NOUN
ftr-309	371	57	to	to	PART
ftr-309	371	58	avoid	avoid	VERB
ftr-309	371	59	this	this	DET
ftr-309	371	60	result	result	NOUN
ftr-309	371	61	and	and	CCONJ
ftr-309	371	62	,	,	PUNCT
ftr-309	371	63	in	in	ADP
ftr-309	371	64	the	the	DET
ftr-309	371	65	process	process	NOUN
ftr-309	371	66	,	,	PUNCT
ftr-309	371	67	save	save	VERB
ftr-309	371	68	substantial	substantial	ADJ
ftr-309	371	69	tax	tax	NOUN
ftr-309	371	70	liability	liability	NOUN
ftr-309	371	71	,	,	PUNCT
ftr-309	371	72	blackstone	blackstone	NOUN
ftr-309	371	73	group	group	PROPN
ftr-309	371	74	lp	lp	PROPN
ftr-309	371	75	uses	use	VERB
ftr-309	371	76	the	the	DET
ftr-309	371	77	structure	structure	NOUN
ftr-309	371	78	illustrated	illustrate	VERB
ftr-309	371	79	above	above	ADV
ftr-309	371	80	in	in	ADP
ftr-309	371	81	figure	figure	NOUN
ftr-309	371	82	1	1	NUM
ftr-309	371	83	.	.	PUNCT
ftr-309	372	1	in	in	ADP
ftr-309	372	2	this	this	DET
ftr-309	372	3	structure	structure	NOUN
ftr-309	372	4	,	,	PUNCT
ftr-309	372	5	the	the	DET
ftr-309	372	6	underlying	underlie	VERB
ftr-309	372	7	partnership	partnership	NOUN
ftr-309	372	8	allocates	allocate	NOUN
ftr-309	372	9	or	or	CCONJ
ftr-309	372	10	pays	pay	VERB
ftr-309	372	11	any	any	DET
ftr-309	372	12	non	non	ADJ
ftr-309	372	13	-	-	ADJ
ftr-309	372	14	qualifying	qualifying	ADJ
ftr-309	372	15	income	income	NOUN
ftr-309	372	16	to	to	ADP
ftr-309	372	17	u.s	u.s	PROPN
ftr-309	372	18	.	.	PROPN
ftr-309	372	19	subsidiary	subsidiary	NOUN
ftr-309	372	20	or	or	CCONJ
ftr-309	372	21	non	non	ADJ
ftr-309	372	22	-	-	ADJ
ftr-309	372	23	u.s	u.s	PROPN
ftr-309	372	24	.	.	PROPN
ftr-309	372	25	subsidiary	subsidiary	NOUN
ftr-309	372	26	and	and	CCONJ
ftr-309	372	27	allocates	allocate	VERB
ftr-309	372	28	any	any	DET
ftr-309	372	29	qualifying	qualify	VERB
ftr-309	372	30	income	income	NOUN
ftr-309	372	31	directly	directly	ADV
ftr-309	372	32	to	to	ADP
ftr-309	372	33	blackstone	blackstone	PROPN
ftr-309	372	34	group	group	PROPN
ftr-309	372	35	lp	lp	PROPN
ftr-309	372	36	.	.	PUNCT
ftr-309	373	1	as	as	ADP
ftr-309	373	2	a	a	DET
ftr-309	373	3	result	result	NOUN
ftr-309	373	4	,	,	PUNCT
ftr-309	373	5	blackstone	blackstone	NOUN
ftr-309	373	6	group	group	NOUN
ftr-309	373	7	lp	lp	PROPN
ftr-309	373	8	earns	earn	VERB
ftr-309	373	9	100	100	NUM
ftr-309	373	10	percent	percent	NOUN
ftr-309	373	11	qualifying	qualify	VERB
ftr-309	373	12	income	income	NOUN
ftr-309	373	13	(	(	PUNCT
ftr-309	373	14	either	either	CCONJ
ftr-309	373	15	income	income	NOUN
ftr-309	373	16	allocated	allocate	VERB
ftr-309	373	17	directly	directly	ADV
ftr-309	373	18	to	to	ADP
ftr-309	373	19	it	it	PRON
ftr-309	373	20	or	or	CCONJ
ftr-309	373	21	dividend	dividend	NOUN
ftr-309	373	22	income	income	NOUN
ftr-309	373	23	,	,	PUNCT
ftr-309	373	24	capital	capital	NOUN
ftr-309	373	25	gain	gain	NOUN
ftr-309	373	26	income	income	NOUN
ftr-309	373	27	,	,	PUNCT
ftr-309	373	28	and	and	CCONJ
ftr-309	373	29	,	,	PUNCT
ftr-309	373	30	possibly	possibly	ADV
ftr-309	373	31	,	,	PUNCT
ftr-309	373	32	interest	interest	NOUN
ftr-309	373	33	income	income	NOUN
ftr-309	373	34	received	receive	VERB
ftr-309	373	35	from	from	ADP
ftr-309	373	36	u.s	u.s	PROPN
ftr-309	373	37	.	.	PROPN
ftr-309	373	38	subsidiary	subsidiary	NOUN
ftr-309	373	39	and	and	CCONJ
ftr-309	373	40	non	non	ADJ
ftr-309	373	41	-	-	ADJ
ftr-309	373	42	u.s	u.s	PROPN
ftr-309	373	43	.	.	PROPN
ftr-309	373	44	subsidiary	subsidiary	NOUN
ftr-309	373	45	)	)	PUNCT
ftr-309	373	46	.	.	PUNCT
ftr-309	374	1	consequently	consequently	ADV
ftr-309	374	2	,	,	PUNCT
ftr-309	374	3	blackstone	blackstone	NOUN
ftr-309	374	4	group	group	NOUN
ftr-309	374	5	lp	lp	PROPN
ftr-309	374	6	qualifies	qualify	VERB
ftr-309	374	7	for	for	ADP
ftr-309	374	8	the	the	DET
ftr-309	374	9	90	90	NUM
ftr-309	374	10	percent	percent	NOUN
ftr-309	374	11	gross	gross	ADJ
ftr-309	374	12	income	income	NOUN
ftr-309	374	13	exception	exception	NOUN
ftr-309	374	14	,	,	PUNCT
ftr-309	374	15	is	be	AUX
ftr-309	374	16	treated	treat	VERB
ftr-309	374	17	as	as	ADP
ftr-309	374	18	a	a	DET
ftr-309	374	19	partnership	partnership	NOUN
ftr-309	374	20	for	for	ADP
ftr-309	374	21	u.s	u.s	PROPN
ftr-309	374	22	.	.	PROPN
ftr-309	374	23	tax	tax	NOUN
ftr-309	374	24	purposes	purpose	NOUN
ftr-309	374	25	,	,	PUNCT
ftr-309	374	26	and	and	CCONJ
ftr-309	374	27	avoids	avoid	VERB
ftr-309	374	28	having	have	VERB
ftr-309	374	29	to	to	PART
ftr-309	374	30	pay	pay	VERB
ftr-309	374	31	corporate	corporate	ADJ
ftr-309	374	32	-	-	PUNCT
ftr-309	374	33	level	level	NOUN
ftr-309	374	34	tax	tax	NOUN
ftr-309	374	35	on	on	ADP
ftr-309	374	36	all	all	PRON
ftr-309	374	37	of	of	ADP
ftr-309	374	38	its	its	PRON
ftr-309	374	39	income	income	NOUN
ftr-309	374	40	.	.	PUNCT
ftr-309	375	1	corporate	corporate	ADJ
ftr-309	375	2	-	-	PUNCT
ftr-309	375	3	level	level	NOUN
ftr-309	375	4	tax	tax	NOUN
ftr-309	375	5	is	be	AUX
ftr-309	375	6	not	not	PART
ftr-309	375	7	entirely	entirely	ADV
ftr-309	375	8	avoided	avoid	VERB
ftr-309	375	9	,	,	PUNCT
ftr-309	375	10	as	as	SCONJ
ftr-309	375	11	u.s	u.s	PROPN
ftr-309	375	12	.	.	PROPN
ftr-309	375	13	subsidiary	subsidiary	NOUN
ftr-309	375	14	pays	pay	VERB
ftr-309	375	15	corporate	corporate	ADJ
ftr-309	375	16	-	-	PUNCT
ftr-309	375	17	level	level	NOUN
ftr-309	375	18	tax	tax	NOUN
ftr-309	375	19	on	on	ADP
ftr-309	375	20	some	some	PRON
ftr-309	375	21	of	of	ADP
ftr-309	375	22	the	the	DET
ftr-309	375	23	income	income	NOUN
ftr-309	375	24	allocated	allocate	VERB
ftr-309	375	25	to	to	ADP
ftr-309	375	26	it	it	PRON
ftr-309	375	27	.	.	PUNCT
ftr-309	376	1	however	however	ADV
ftr-309	376	2	,	,	PUNCT
ftr-309	376	3	qualifying	qualify	VERB
ftr-309	376	4	income	income	NOUN
ftr-309	376	5	allocated	allocate	VERB
ftr-309	376	6	to	to	ADP
ftr-309	376	7	blackstone	blackstone	NOUN
ftr-309	376	8	group	group	PROPN
ftr-309	376	9	lp	lp	PROPN
ftr-309	376	10	and	and	CCONJ
ftr-309	376	11	income	income	NOUN
ftr-309	376	12	allocated	allocate	VERB
ftr-309	376	13	to	to	ADP
ftr-309	376	14	non	non	ADJ
ftr-309	376	15	-	-	ADJ
ftr-309	376	16	u.s	u.s	PROPN
ftr-309	376	17	.	.	PROPN
ftr-309	376	18	subsidiary	subsidiary	NOUN
ftr-309	376	19	escape	escape	VERB
ftr-309	376	20	corporate	corporate	ADJ
ftr-309	376	21	-	-	PUNCT
ftr-309	376	22	level	level	NOUN
ftr-309	376	23	tax	tax	NOUN
ftr-309	376	24	.	.	PUNCT
ftr-309	377	1	these	these	DET
ftr-309	377	2	results	result	NOUN
ftr-309	377	3	hinge	hinge	VERB
ftr-309	377	4	on	on	ADP
ftr-309	377	5	the	the	DET
ftr-309	377	6	underlying	underlie	VERB
ftr-309	377	7	partnership	partnership	NOUN
ftr-309	377	8	's	's	PART
ftr-309	377	9	tax	tax	NOUN
ftr-309	377	10	allocations	allocation	NOUN
ftr-309	377	11	.	.	PUNCT
ftr-309	378	1	hence	hence	ADV
ftr-309	378	2	,	,	PUNCT
ftr-309	378	3	part	part	NOUN
ftr-309	378	4	iii	iii	NOUN
ftr-309	378	5	will	will	AUX
ftr-309	378	6	demonstrate	demonstrate	VERB
ftr-309	378	7	that	that	SCONJ
ftr-309	378	8	the	the	DET
ftr-309	378	9	underlying	underlie	VERB
ftr-309	378	10	partnership	partnership	NOUN
ftr-309	378	11	's	's	PART
ftr-309	378	12	tax	tax	NOUN
ftr-309	378	13	allocations	allocation	NOUN
ftr-309	378	14	exploit	exploit	VERB
ftr-309	378	15	a	a	DET
ftr-309	378	16	loophole	loophole	NOUN
ftr-309	378	17	in	in	ADP
ftr-309	378	18	the	the	DET
ftr-309	378	19	current	current	ADJ
ftr-309	378	20	partnership	partnership	NOUN
ftr-309	378	21	tax	tax	NOUN
ftr-309	378	22	allocation	allocation	NOUN
ftr-309	378	23	rules	rule	NOUN
ftr-309	378	24	.	.	PUNCT
ftr-309	379	1	iii	iii	X
ftr-309	379	2	.	.	PUNCT
ftr-309	380	1	the	the	DET
ftr-309	380	2	blackstone	blackstone	NOUN
ftr-309	380	3	group	group	NOUN
ftr-309	380	4	structure	structure	NOUN
ftr-309	380	5	takes	take	VERB
ftr-309	380	6	advantage	advantage	NOUN
ftr-309	380	7	of	of	ADP
ftr-309	380	8	an	an	PRON
ftr-309	380	9	of	of	ADP
ftr-309	380	10	an	an	DET
ftr-309	380	11	unintended	unintended	ADJ
ftr-309	380	12	loophole	loophole	NOUN
ftr-309	380	13	in	in	ADP
ftr-309	380	14	the	the	DET
ftr-309	380	15	partnership	partnership	NOUN
ftr-309	380	16	tax	tax	NOUN
ftr-309	380	17	allocation	allocation	NOUN
ftr-309	380	18	rules	rule	NOUN
ftr-309	380	19	as	as	SCONJ
ftr-309	380	20	discussed	discuss	VERB
ftr-309	380	21	above	above	ADV
ftr-309	380	22	,	,	PUNCT
ftr-309	380	23	a	a	DET
ftr-309	380	24	partnership	partnership	NOUN
ftr-309	380	25	allocates	allocate	VERB
ftr-309	380	26	among	among	ADP
ftr-309	380	27	its	its	PRON
ftr-309	380	28	partners	partner	NOUN
ftr-309	380	29	tax	tax	NOUN
ftr-309	380	30	items	item	NOUN
ftr-309	380	31	that	that	PRON
ftr-309	380	32	the	the	DET
ftr-309	380	33	partnership	partnership	NOUN
ftr-309	380	34	recognizes.78	recognizes.78	VERB
ftr-309	380	35	partnerships	partnership	NOUN
ftr-309	380	36	are	be	AUX
ftr-309	380	37	not	not	PART
ftr-309	380	38	free	free	ADJ
ftr-309	380	39	,	,	PUNCT
ftr-309	380	40	however	however	ADV
ftr-309	380	41	,	,	PUNCT
ftr-309	380	42	to	to	PART
ftr-309	380	43	allocate	allocate	VERB
ftr-309	380	44	items	item	NOUN
ftr-309	380	45	among	among	ADP
ftr-309	380	46	partners	partner	NOUN
ftr-309	380	47	in	in	ADP
ftr-309	380	48	any	any	DET
ftr-309	380	49	manner	manner	NOUN
ftr-309	380	50	whatsoever	whatsoever	ADV
ftr-309	380	51	.	.	PUNCT
ftr-309	381	1	if	if	SCONJ
ftr-309	381	2	partnerships	partnership	NOUN
ftr-309	381	3	were	be	AUX
ftr-309	381	4	completely	completely	ADV
ftr-309	381	5	unconstrained	unconstraine	VERB
ftr-309	381	6	in	in	ADP
ftr-309	381	7	their	their	PRON
ftr-309	381	8	ability	ability	NOUN
ftr-309	381	9	to	to	PART
ftr-309	381	10	allocate	allocate	VERB
ftr-309	381	11	tax	tax	NOUN
ftr-309	381	12	items	item	NOUN
ftr-309	381	13	,	,	PUNCT
ftr-309	381	14	they	they	PRON
ftr-309	381	15	could	could	AUX
ftr-309	381	16	too	too	ADV
ftr-309	381	17	easily	easily	ADV
ftr-309	381	18	allocate	allocate	VERB
ftr-309	381	19	items	item	NOUN
ftr-309	381	20	in	in	ADP
ftr-309	381	21	a	a	DET
ftr-309	381	22	manner	manner	NOUN
ftr-309	381	23	that	that	PRON
ftr-309	381	24	minimized	minimize	VERB
ftr-309	381	25	the	the	DET
ftr-309	381	26	partners	partner	NOUN
ftr-309	381	27	'	'	PART
ftr-309	381	28	aggregate	aggregate	ADJ
ftr-309	381	29	tax	tax	NOUN
ftr-309	381	30	liability	liability	NOUN
ftr-309	381	31	.	.	PUNCT
ftr-309	382	1	in	in	ADP
ftr-309	382	2	order	order	NOUN
ftr-309	382	3	to	to	PART
ftr-309	382	4	demonstrate	demonstrate	VERB
ftr-309	382	5	,	,	PUNCT
ftr-309	382	6	consider	consider	VERB
ftr-309	382	7	the	the	DET
ftr-309	382	8	following	follow	VERB
ftr-309	382	9	example	example	NOUN
ftr-309	382	10	.	.	PUNCT
ftr-309	383	1	example	example	NOUN
ftr-309	384	1	1	1	NUM
ftr-309	384	2	.	.	X
ftr-309	384	3	assume	assume	VERB
ftr-309	384	4	tom	tom	PROPN
ftr-309	384	5	and	and	CCONJ
ftr-309	384	6	leslie	leslie	PROPN
ftr-309	384	7	,	,	PUNCT
ftr-309	384	8	two	two	NUM
ftr-309	384	9	unrelated	unrelated	ADJ
ftr-309	384	10	individuals	individual	NOUN
ftr-309	384	11	,	,	PUNCT
ftr-309	384	12	form	form	VERB
ftr-309	384	13	a	a	DET
ftr-309	384	14	partnership	partnership	NOUN
ftr-309	384	15	.	.	PUNCT
ftr-309	385	1	each	each	DET
ftr-309	385	2	individual	individual	NOUN
ftr-309	385	3	contributes	contribute	VERB
ftr-309	385	4	$	$	SYM
ftr-309	385	5	100	100	NUM
ftr-309	385	6	.	.	PUNCT
ftr-309	386	1	the	the	DET
ftr-309	386	2	partnership	partnership	NOUN
ftr-309	386	3	acquires	acquire	VERB
ftr-309	386	4	land	land	NOUN
ftr-309	386	5	for	for	ADP
ftr-309	386	6	$	$	SYM
ftr-309	386	7	200	200	NUM
ftr-309	386	8	at	at	ADP
ftr-309	386	9	the	the	DET
ftr-309	386	10	beginning	beginning	NOUN
ftr-309	386	11	of	of	ADP
ftr-309	386	12	year	year	NOUN
ftr-309	386	13	i	i	PRON
ftr-309	386	14	and	and	CCONJ
ftr-309	386	15	sells	sell	VERB
ftr-309	386	16	the	the	DET
ftr-309	386	17	land	land	NOUN
ftr-309	386	18	for	for	ADP
ftr-309	386	19	$	$	SYM
ftr-309	386	20	300	300	NUM
ftr-309	386	21	during	during	ADP
ftr-309	386	22	year	year	NOUN
ftr-309	386	23	1	1	NUM
ftr-309	386	24	.	.	X
ftr-309	386	25	77	77	NUM
ftr-309	386	26	.	.	PUNCT
ftr-309	387	1	see	see	VERB
ftr-309	387	2	supra	supra	PROPN
ftr-309	387	3	notes	note	VERB
ftr-309	387	4	26	26	NUM
ftr-309	387	5	-	-	SYM
ftr-309	387	6	27	27	NUM
ftr-309	387	7	and	and	CCONJ
ftr-309	387	8	accompanying	accompany	VERB
ftr-309	387	9	text	text	NOUN
ftr-309	387	10	.	.	PUNCT
ftr-309	388	1	78	78	NUM
ftr-309	388	2	.	.	PUNCT
ftr-309	389	1	see	see	VERB
ftr-309	389	2	supra	supra	PROPN
ftr-309	389	3	part	part	NOUN
ftr-309	389	4	ii.e	ii.e	ADV
ftr-309	389	5	.	.	PUNCT
ftr-309	390	1	169	169	NUM
ftr-309	390	2	florida	florida	PROPN
ftr-309	390	3	tax	tax	NOUN
ftr-309	390	4	review	review	NOUN
ftr-309	390	5	in	in	ADP
ftr-309	390	6	year	year	NOUN
ftr-309	390	7	2	2	NUM
ftr-309	390	8	,	,	PUNCT
ftr-309	390	9	the	the	DET
ftr-309	390	10	partnership	partnership	NOUN
ftr-309	390	11	liquidates	liquidate	VERB
ftr-309	390	12	,	,	PUNCT
ftr-309	390	13	distributing	distribute	VERB
ftr-309	390	14	$	$	SYM
ftr-309	390	15	150	150	NUM
ftr-309	390	16	cash	cash	NOUN
ftr-309	390	17	to	to	ADP
ftr-309	390	18	each	each	DET
ftr-309	390	19	partner	partner	NOUN
ftr-309	390	20	.	.	PUNCT
ftr-309	391	1	regarding	regard	VERB
ftr-309	391	2	the	the	DET
ftr-309	391	3	tax	tax	NOUN
ftr-309	391	4	consequences	consequence	NOUN
ftr-309	391	5	,	,	PUNCT
ftr-309	391	6	in	in	ADP
ftr-309	391	7	year	year	NOUN
ftr-309	391	8	1	1	NUM
ftr-309	391	9	,	,	PUNCT
ftr-309	391	10	the	the	DET
ftr-309	391	11	partnership	partnership	NOUN
ftr-309	391	12	recognizes	recognize	VERB
ftr-309	391	13	$	$	SYM
ftr-309	391	14	100	100	NUM
ftr-309	391	15	of	of	ADP
ftr-309	391	16	tax	tax	NOUN
ftr-309	391	17	gain	gain	NOUN
ftr-309	391	18	.	.	PUNCT
ftr-309	392	1	the	the	DET
ftr-309	392	2	partnership	partnership	NOUN
ftr-309	392	3	does	do	AUX
ftr-309	392	4	not	not	PART
ftr-309	392	5	pay	pay	VERB
ftr-309	392	6	entity	entity	NOUN
ftr-309	392	7	-	-	PUNCT
ftr-309	392	8	level	level	NOUN
ftr-309	392	9	tax	tax	NOUN
ftr-309	392	10	on	on	ADP
ftr-309	392	11	this	this	DET
ftr-309	392	12	gain	gain	NOUN
ftr-309	392	13	but	but	CCONJ
ftr-309	392	14	,	,	PUNCT
ftr-309	392	15	rather	rather	ADV
ftr-309	392	16	,	,	PUNCT
ftr-309	392	17	allocates	allocate	VERB
ftr-309	392	18	it	it	PRON
ftr-309	392	19	between	between	ADP
ftr-309	392	20	tom	tom	PROPN
ftr-309	392	21	and	and	CCONJ
ftr-309	392	22	leslie	leslie	PROPN
ftr-309	392	23	.	.	PUNCT
ftr-309	393	1	assume	assume	VERB
ftr-309	393	2	tom	tom	PROPN
ftr-309	393	3	would	would	AUX
ftr-309	393	4	be	be	AUX
ftr-309	393	5	subject	subject	ADJ
ftr-309	393	6	to	to	ADP
ftr-309	393	7	a	a	DET
ftr-309	393	8	tax	tax	NOUN
ftr-309	393	9	rate	rate	NOUN
ftr-309	393	10	of	of	ADP
ftr-309	393	11	50	50	NUM
ftr-309	393	12	percent	percent	NOUN
ftr-309	393	13	on	on	ADP
ftr-309	393	14	gain	gain	NOUN
ftr-309	393	15	from	from	ADP
ftr-309	393	16	the	the	DET
ftr-309	393	17	sale	sale	NOUN
ftr-309	393	18	of	of	ADP
ftr-309	393	19	the	the	DET
ftr-309	393	20	land	land	NOUN
ftr-309	393	21	,	,	PUNCT
ftr-309	393	22	while	while	SCONJ
ftr-309	393	23	leslie	leslie	PROPN
ftr-309	393	24	would	would	AUX
ftr-309	393	25	be	be	AUX
ftr-309	393	26	subject	subject	ADJ
ftr-309	393	27	to	to	ADP
ftr-309	393	28	a	a	DET
ftr-309	393	29	tax	tax	NOUN
ftr-309	393	30	rate	rate	NOUN
ftr-309	393	31	of	of	ADP
ftr-309	393	32	0	0	NUM
ftr-309	393	33	percent	percent	NOUN
ftr-309	393	34	on	on	ADP
ftr-309	393	35	gain	gain	NOUN
ftr-309	393	36	from	from	ADP
ftr-309	393	37	the	the	DET
ftr-309	393	38	sale	sale	NOUN
ftr-309	393	39	of	of	ADP
ftr-309	393	40	the	the	DET
ftr-309	393	41	land.79	land.79	NOUN
ftr-309	393	42	if	if	SCONJ
ftr-309	393	43	the	the	DET
ftr-309	393	44	partnership	partnership	NOUN
ftr-309	393	45	were	be	AUX
ftr-309	393	46	allowed	allow	VERB
ftr-309	393	47	to	to	PART
ftr-309	393	48	do	do	VERB
ftr-309	393	49	so	so	ADV
ftr-309	393	50	,	,	PUNCT
ftr-309	393	51	it	it	PRON
ftr-309	393	52	would	would	AUX
ftr-309	393	53	allocate	allocate	VERB
ftr-309	393	54	$	$	SYM
ftr-309	393	55	100	100	NUM
ftr-309	393	56	tax	tax	NOUN
ftr-309	393	57	gain	gain	NOUN
ftr-309	393	58	to	to	ADP
ftr-309	393	59	leslie	leslie	PROPN
ftr-309	393	60	(	(	PUNCT
ftr-309	393	61	who	who	PRON
ftr-309	393	62	pays	pay	VERB
ftr-309	393	63	no	no	DET
ftr-309	393	64	tax	tax	NOUN
ftr-309	393	65	on	on	ADP
ftr-309	393	66	the	the	DET
ftr-309	393	67	gain	gain	NOUN
ftr-309	393	68	)	)	PUNCT
ftr-309	393	69	and	and	CCONJ
ftr-309	393	70	$	$	SYM
ftr-309	393	71	0	0	NUM
ftr-309	393	72	tax	tax	NOUN
ftr-309	393	73	gain	gain	NOUN
ftr-309	393	74	to	to	ADP
ftr-309	393	75	tom	tom	PROPN
ftr-309	393	76	.	.	PROPN
ftr-309	393	77	"o	"o	PROPN
ftr-309	393	78	as	as	SCONJ
ftr-309	393	79	numerous	numerous	ADJ
ftr-309	393	80	other	other	ADJ
ftr-309	393	81	commentators	commentator	NOUN
ftr-309	393	82	have	have	AUX
ftr-309	393	83	observed	observe	VERB
ftr-309	393	84	,	,	PUNCT
ftr-309	393	85	the	the	DET
ftr-309	393	86	purpose	purpose	NOUN
ftr-309	393	87	of	of	ADP
ftr-309	393	88	the	the	DET
ftr-309	393	89	rules	rule	NOUN
ftr-309	393	90	governing	govern	VERB
ftr-309	393	91	partnership	partnership	NOUN
ftr-309	393	92	tax	tax	NOUN
ftr-309	393	93	allocations	allocation	NOUN
ftr-309	393	94	is	be	AUX
ftr-309	393	95	to	to	PART
ftr-309	393	96	prevent	prevent	VERB
ftr-309	393	97	excessively	excessively	ADV
ftr-309	393	98	tax79	tax79	NOUN
ftr-309	393	99	.	.	PUNCT
ftr-309	394	1	for	for	ADP
ftr-309	394	2	example	example	NOUN
ftr-309	394	3	,	,	PUNCT
ftr-309	394	4	leslie	leslie	PROPN
ftr-309	394	5	could	could	AUX
ftr-309	394	6	be	be	AUX
ftr-309	394	7	subject	subject	ADJ
ftr-309	394	8	to	to	ADP
ftr-309	394	9	0	0	NUM
ftr-309	394	10	percent	percent	NOUN
ftr-309	394	11	tax	tax	NOUN
ftr-309	394	12	if	if	SCONJ
ftr-309	394	13	(	(	PUNCT
ftr-309	394	14	1	1	X
ftr-309	394	15	)	)	PUNCT
ftr-309	394	16	leslie	leslie	NOUN
ftr-309	394	17	recognized	recognize	VERB
ftr-309	394	18	tax	tax	NOUN
ftr-309	394	19	losses	loss	NOUN
ftr-309	394	20	from	from	ADP
ftr-309	394	21	other	other	ADJ
ftr-309	394	22	sources	source	NOUN
ftr-309	394	23	that	that	PRON
ftr-309	394	24	would	would	AUX
ftr-309	394	25	offset	offset	VERB
ftr-309	394	26	gain	gain	NOUN
ftr-309	394	27	allocated	allocate	VERB
ftr-309	394	28	to	to	ADP
ftr-309	394	29	her	she	PRON
ftr-309	394	30	from	from	ADP
ftr-309	394	31	the	the	DET
ftr-309	394	32	partnership	partnership	NOUN
ftr-309	394	33	,	,	PUNCT
ftr-309	394	34	and	and	CCONJ
ftr-309	394	35	(	(	PUNCT
ftr-309	394	36	2	2	X
ftr-309	394	37	)	)	PUNCT
ftr-309	394	38	she	she	PRON
ftr-309	394	39	did	do	AUX
ftr-309	394	40	not	not	PART
ftr-309	394	41	recognize	recognize	VERB
ftr-309	394	42	other	other	ADJ
ftr-309	394	43	income	income	NOUN
ftr-309	394	44	from	from	ADP
ftr-309	394	45	which	which	PRON
ftr-309	394	46	the	the	DET
ftr-309	394	47	losses	loss	NOUN
ftr-309	394	48	could	could	AUX
ftr-309	394	49	be	be	AUX
ftr-309	394	50	deducted	deduct	VERB
ftr-309	394	51	.	.	PUNCT
ftr-309	395	1	80	80	NUM
ftr-309	395	2	.	.	PUNCT
ftr-309	396	1	even	even	ADV
ftr-309	396	2	if	if	SCONJ
ftr-309	396	3	the	the	DET
ftr-309	396	4	partnership	partnership	NOUN
ftr-309	396	5	were	be	AUX
ftr-309	396	6	allowed	allow	VERB
ftr-309	396	7	to	to	PART
ftr-309	396	8	do	do	VERB
ftr-309	396	9	this	this	PRON
ftr-309	396	10	,	,	PUNCT
ftr-309	396	11	tom	tom	PROPN
ftr-309	396	12	would	would	AUX
ftr-309	396	13	not	not	PART
ftr-309	396	14	escape	escape	VERB
ftr-309	396	15	tax	tax	NOUN
ftr-309	396	16	indefinitely	indefinitely	ADV
ftr-309	396	17	because	because	SCONJ
ftr-309	396	18	in	in	ADP
ftr-309	396	19	year	year	NOUN
ftr-309	396	20	2	2	NUM
ftr-309	396	21	,	,	PUNCT
ftr-309	396	22	at	at	ADP
ftr-309	396	23	the	the	DET
ftr-309	396	24	time	time	NOUN
ftr-309	396	25	of	of	ADP
ftr-309	396	26	the	the	DET
ftr-309	396	27	liquidation	liquidation	NOUN
ftr-309	396	28	,	,	PUNCT
ftr-309	396	29	tom	tom	PROPN
ftr-309	396	30	would	would	AUX
ftr-309	396	31	recognize	recognize	VERB
ftr-309	396	32	$	$	SYM
ftr-309	396	33	50	50	NUM
ftr-309	396	34	of	of	ADP
ftr-309	396	35	tax	tax	NOUN
ftr-309	396	36	gain	gain	NOUN
ftr-309	396	37	and	and	CCONJ
ftr-309	396	38	leslie	leslie	PROPN
ftr-309	396	39	would	would	AUX
ftr-309	396	40	recognize	recognize	VERB
ftr-309	396	41	$	$	SYM
ftr-309	396	42	50	50	NUM
ftr-309	396	43	of	of	ADP
ftr-309	396	44	tax	tax	NOUN
ftr-309	396	45	loss	loss	NOUN
ftr-309	396	46	.	.	PUNCT
ftr-309	397	1	tom	tom	PROPN
ftr-309	397	2	recognizes	recognize	VERB
ftr-309	397	3	$	$	SYM
ftr-309	397	4	50	50	NUM
ftr-309	397	5	of	of	ADP
ftr-309	397	6	tax	tax	NOUN
ftr-309	397	7	gain	gain	NOUN
ftr-309	397	8	because	because	SCONJ
ftr-309	397	9	tom	tom	PROPN
ftr-309	397	10	's	's	PART
ftr-309	397	11	basis	basis	NOUN
ftr-309	397	12	in	in	ADP
ftr-309	397	13	his	his	PRON
ftr-309	397	14	partnership	partnership	NOUN
ftr-309	397	15	interest	interest	NOUN
ftr-309	397	16	just	just	ADV
ftr-309	397	17	prior	prior	ADV
ftr-309	397	18	to	to	ADP
ftr-309	397	19	liquidation	liquidation	NOUN
ftr-309	397	20	will	will	AUX
ftr-309	397	21	be	be	AUX
ftr-309	397	22	$	$	SYM
ftr-309	397	23	100	100	NUM
ftr-309	397	24	.	.	PUNCT
ftr-309	398	1	his	his	PRON
ftr-309	398	2	basis	basis	NOUN
ftr-309	398	3	equals	equal	VERB
ftr-309	398	4	the	the	DET
ftr-309	398	5	$	$	SYM
ftr-309	398	6	100	100	NUM
ftr-309	398	7	cash	cash	NOUN
ftr-309	398	8	he	he	PRON
ftr-309	398	9	contributed	contribute	VERB
ftr-309	398	10	plus	plus	CCONJ
ftr-309	398	11	$	$	SYM
ftr-309	398	12	0	0	NUM
ftr-309	398	13	tax	tax	NOUN
ftr-309	398	14	gain	gain	NOUN
ftr-309	398	15	allocated	allocate	VERB
ftr-309	398	16	to	to	ADP
ftr-309	398	17	him	he	PRON
ftr-309	398	18	.	.	PUNCT
ftr-309	399	1	see	see	VERB
ftr-309	399	2	i.r.c	i.r.c	NOUN
ftr-309	399	3	.	.	PUNCT
ftr-309	400	1	§	§	PROPN
ftr-309	400	2	705(a	705(a	PROPN
ftr-309	400	3	)	)	PUNCT
ftr-309	400	4	.	.	PUNCT
ftr-309	401	1	because	because	SCONJ
ftr-309	401	2	this	this	DET
ftr-309	401	3	basis	basis	NOUN
ftr-309	401	4	is	be	AUX
ftr-309	401	5	$	$	SYM
ftr-309	401	6	50	50	NUM
ftr-309	401	7	lower	low	ADJ
ftr-309	401	8	than	than	ADP
ftr-309	401	9	the	the	DET
ftr-309	401	10	amount	amount	NOUN
ftr-309	401	11	of	of	ADP
ftr-309	401	12	cash	cash	NOUN
ftr-309	401	13	he	he	PRON
ftr-309	401	14	receives	receive	VERB
ftr-309	401	15	on	on	ADP
ftr-309	401	16	liquidation	liquidation	NOUN
ftr-309	401	17	,	,	PUNCT
ftr-309	401	18	he	he	PRON
ftr-309	401	19	recognizes	recognize	VERB
ftr-309	401	20	$	$	SYM
ftr-309	401	21	50	50	NUM
ftr-309	401	22	of	of	ADP
ftr-309	401	23	tax	tax	NOUN
ftr-309	401	24	gain	gain	NOUN
ftr-309	401	25	.	.	PUNCT
ftr-309	402	1	see	see	VERB
ftr-309	402	2	i.r.c	i.r.c	NOUN
ftr-309	402	3	.	.	PUNCT
ftr-309	403	1	§	§	PROPN
ftr-309	403	2	731(a)(1	731(a)(1	NUM
ftr-309	403	3	)	)	PUNCT
ftr-309	403	4	.	.	PUNCT
ftr-309	404	1	leslie	leslie	PROPN
ftr-309	404	2	recognizes	recognize	VERB
ftr-309	404	3	$	$	SYM
ftr-309	404	4	50	50	NUM
ftr-309	404	5	tax	tax	NOUN
ftr-309	404	6	loss	loss	NOUN
ftr-309	404	7	on	on	ADP
ftr-309	404	8	liquidation	liquidation	NOUN
ftr-309	404	9	.	.	PUNCT
ftr-309	405	1	leslie	leslie	PROPN
ftr-309	405	2	's	's	PART
ftr-309	405	3	basis	basis	NOUN
ftr-309	405	4	in	in	ADP
ftr-309	405	5	her	her	PRON
ftr-309	405	6	partnership	partnership	NOUN
ftr-309	405	7	interest	interest	NOUN
ftr-309	405	8	just	just	ADV
ftr-309	405	9	prior	prior	ADV
ftr-309	405	10	to	to	ADP
ftr-309	405	11	liquidation	liquidation	NOUN
ftr-309	405	12	is	be	AUX
ftr-309	405	13	$	$	SYM
ftr-309	405	14	200	200	NUM
ftr-309	405	15	,	,	PUNCT
ftr-309	405	16	which	which	PRON
ftr-309	405	17	equals	equal	VERB
ftr-309	405	18	the	the	DET
ftr-309	405	19	$	$	SYM
ftr-309	405	20	100	100	NUM
ftr-309	405	21	cash	cash	NOUN
ftr-309	405	22	she	she	PRON
ftr-309	405	23	contributed	contribute	VERB
ftr-309	405	24	plus	plus	CCONJ
ftr-309	405	25	the	the	DET
ftr-309	405	26	$	$	SYM
ftr-309	405	27	100	100	NUM
ftr-309	405	28	tax	tax	NOUN
ftr-309	405	29	gain	gain	NOUN
ftr-309	405	30	allocated	allocate	VERB
ftr-309	405	31	to	to	ADP
ftr-309	405	32	her	she	PRON
ftr-309	405	33	by	by	ADP
ftr-309	405	34	the	the	DET
ftr-309	405	35	partnership	partnership	NOUN
ftr-309	405	36	.	.	PUNCT
ftr-309	406	1	see	see	VERB
ftr-309	406	2	i.r.c	i.r.c	NOUN
ftr-309	406	3	.	.	PUNCT
ftr-309	407	1	§	§	PROPN
ftr-309	407	2	705(a	705(a	PROPN
ftr-309	407	3	)	)	PUNCT
ftr-309	407	4	.	.	PUNCT
ftr-309	408	1	because	because	SCONJ
ftr-309	408	2	the	the	DET
ftr-309	408	3	amount	amount	NOUN
ftr-309	408	4	of	of	ADP
ftr-309	408	5	cash	cash	NOUN
ftr-309	408	6	she	she	PRON
ftr-309	408	7	receives	receive	VERB
ftr-309	408	8	on	on	ADP
ftr-309	408	9	liquidation	liquidation	NOUN
ftr-309	408	10	(	(	PUNCT
ftr-309	408	11	i.e.	i.e.	X
ftr-309	408	12	,	,	PUNCT
ftr-309	408	13	$	$	SYM
ftr-309	408	14	150	150	NUM
ftr-309	408	15	)	)	PUNCT
ftr-309	408	16	is	be	AUX
ftr-309	408	17	$	$	SYM
ftr-309	408	18	50	50	NUM
ftr-309	408	19	lower	low	ADJ
ftr-309	408	20	than	than	ADP
ftr-309	408	21	her	her	PRON
ftr-309	408	22	basis	basis	NOUN
ftr-309	408	23	in	in	ADP
ftr-309	408	24	the	the	DET
ftr-309	408	25	partnership	partnership	NOUN
ftr-309	408	26	,	,	PUNCT
ftr-309	408	27	leslie	leslie	PROPN
ftr-309	408	28	recognizes	recognize	VERB
ftr-309	408	29	$	$	SYM
ftr-309	408	30	50	50	NUM
ftr-309	408	31	tax	tax	NOUN
ftr-309	408	32	loss	loss	NOUN
ftr-309	408	33	on	on	ADP
ftr-309	408	34	liquidation	liquidation	NOUN
ftr-309	408	35	.	.	PUNCT
ftr-309	409	1	see	see	VERB
ftr-309	409	2	i.r.c	i.r.c	NOUN
ftr-309	409	3	.	.	PUNCT
ftr-309	410	1	§	§	PROPN
ftr-309	410	2	73	73	NUM
ftr-309	410	3	1(a)(2	1(a)(2	NUM
ftr-309	410	4	)	)	PUNCT
ftr-309	410	5	.	.	PUNCT
ftr-309	411	1	however	however	ADV
ftr-309	411	2	,	,	PUNCT
ftr-309	411	3	although	although	SCONJ
ftr-309	411	4	tom	tom	PROPN
ftr-309	411	5	eventually	eventually	ADV
ftr-309	411	6	recognizes	recognize	VERB
ftr-309	411	7	$	$	SYM
ftr-309	411	8	50	50	NUM
ftr-309	411	9	tax	tax	NOUN
ftr-309	411	10	gain	gain	NOUN
ftr-309	411	11	,	,	PUNCT
ftr-309	411	12	tom	tom	PROPN
ftr-309	411	13	nevertheless	nevertheless	ADV
ftr-309	411	14	can	can	AUX
ftr-309	411	15	benefit	benefit	VERB
ftr-309	411	16	from	from	ADP
ftr-309	411	17	the	the	DET
ftr-309	411	18	allocations	allocation	NOUN
ftr-309	411	19	for	for	ADP
ftr-309	411	20	two	two	NUM
ftr-309	411	21	reasons	reason	NOUN
ftr-309	411	22	.	.	PUNCT
ftr-309	412	1	first	first	ADV
ftr-309	412	2	,	,	PUNCT
ftr-309	412	3	tom	tom	PROPN
ftr-309	412	4	is	be	AUX
ftr-309	412	5	able	able	ADJ
ftr-309	412	6	to	to	PART
ftr-309	412	7	defer	defer	VERB
ftr-309	412	8	tax	tax	NOUN
ftr-309	412	9	liability	liability	NOUN
ftr-309	412	10	until	until	ADP
ftr-309	412	11	the	the	DET
ftr-309	412	12	year	year	NOUN
ftr-309	412	13	in	in	ADP
ftr-309	412	14	which	which	PRON
ftr-309	412	15	the	the	DET
ftr-309	412	16	partnership	partnership	NOUN
ftr-309	412	17	liquidates	liquidate	VERB
ftr-309	412	18	.	.	PUNCT
ftr-309	413	1	second	second	ADV
ftr-309	413	2	,	,	PUNCT
ftr-309	413	3	it	it	PRON
ftr-309	413	4	is	be	AUX
ftr-309	413	5	possible	possible	ADJ
ftr-309	413	6	that	that	SCONJ
ftr-309	413	7	the	the	DET
ftr-309	413	8	character	character	NOUN
ftr-309	413	9	of	of	ADP
ftr-309	413	10	gain	gain	NOUN
ftr-309	413	11	recognized	recognize	VERB
ftr-309	413	12	by	by	ADP
ftr-309	413	13	tom	tom	PROPN
ftr-309	413	14	on	on	ADP
ftr-309	413	15	liquidation	liquidation	NOUN
ftr-309	413	16	is	be	AUX
ftr-309	413	17	different	different	ADJ
ftr-309	413	18	than	than	ADP
ftr-309	413	19	gain	gain	VERB
ftr-309	413	20	from	from	ADP
ftr-309	413	21	the	the	DET
ftr-309	413	22	sale	sale	NOUN
ftr-309	413	23	of	of	ADP
ftr-309	413	24	the	the	DET
ftr-309	413	25	land	land	NOUN
ftr-309	413	26	,	,	PUNCT
ftr-309	413	27	and	and	CCONJ
ftr-309	413	28	it	it	PRON
ftr-309	413	29	is	be	AUX
ftr-309	413	30	taxed	tax	VERB
ftr-309	413	31	more	more	ADV
ftr-309	413	32	favorably	favorably	ADV
ftr-309	413	33	than	than	ADP
ftr-309	413	34	gain	gain	NOUN
ftr-309	413	35	from	from	ADP
ftr-309	413	36	the	the	DET
ftr-309	413	37	sale	sale	NOUN
ftr-309	413	38	of	of	ADP
ftr-309	413	39	the	the	DET
ftr-309	413	40	land	land	NOUN
ftr-309	413	41	so	so	SCONJ
ftr-309	413	42	that	that	SCONJ
ftr-309	413	43	tom	tom	PROPN
ftr-309	413	44	may	may	AUX
ftr-309	413	45	pay	pay	VERB
ftr-309	413	46	a	a	DET
ftr-309	413	47	rate	rate	NOUN
ftr-309	413	48	of	of	ADP
ftr-309	413	49	tax	tax	NOUN
ftr-309	413	50	on	on	ADP
ftr-309	413	51	the	the	DET
ftr-309	413	52	gain	gain	NOUN
ftr-309	413	53	in	in	ADP
ftr-309	413	54	year	year	NOUN
ftr-309	413	55	2	2	NUM
ftr-309	413	56	that	that	PRON
ftr-309	413	57	is	be	AUX
ftr-309	413	58	less	less	ADJ
ftr-309	413	59	than	than	ADP
ftr-309	413	60	50	50	NUM
ftr-309	413	61	percent	percent	NOUN
ftr-309	413	62	.	.	PUNCT
ftr-309	414	1	see	see	VERB
ftr-309	414	2	i.r.c	i.r.c	NOUN
ftr-309	414	3	.	.	PUNCT
ftr-309	415	1	§	§	PROPN
ftr-309	415	2	731(a	731(a	PROPN
ftr-309	415	3	)	)	PUNCT
ftr-309	415	4	(	(	PUNCT
ftr-309	415	5	flush	flush	ADJ
ftr-309	415	6	language	language	NOUN
ftr-309	415	7	)	)	PUNCT
ftr-309	415	8	(	(	PUNCT
ftr-309	415	9	providing	provide	VERB
ftr-309	415	10	that	that	DET
ftr-309	415	11	gain	gain	NOUN
ftr-309	415	12	recognized	recognize	VERB
ftr-309	415	13	by	by	ADP
ftr-309	415	14	tom	tom	PROPN
ftr-309	415	15	as	as	ADP
ftr-309	415	16	a	a	DET
ftr-309	415	17	result	result	NOUN
ftr-309	415	18	of	of	ADP
ftr-309	415	19	the	the	DET
ftr-309	415	20	partnership	partnership	NOUN
ftr-309	415	21	distributing	distribute	VERB
ftr-309	415	22	cash	cash	NOUN
ftr-309	415	23	to	to	ADP
ftr-309	415	24	him	he	PRON
ftr-309	415	25	will	will	AUX
ftr-309	415	26	be	be	AUX
ftr-309	415	27	treated	treat	VERB
ftr-309	415	28	as	as	ADP
ftr-309	415	29	gain	gain	NOUN
ftr-309	415	30	from	from	ADP
ftr-309	415	31	the	the	DET
ftr-309	415	32	sale	sale	NOUN
ftr-309	415	33	of	of	ADP
ftr-309	415	34	his	his	PRON
ftr-309	415	35	interest	interest	NOUN
ftr-309	415	36	in	in	ADP
ftr-309	415	37	the	the	DET
ftr-309	415	38	partnership	partnership	NOUN
ftr-309	415	39	)	)	PUNCT
ftr-309	415	40	;	;	PUNCT
ftr-309	415	41	i.r.c	i.r.c	NOUN
ftr-309	415	42	.	.	PUNCT
ftr-309	416	1	§	§	PROPN
ftr-309	416	2	741	741	NUM
ftr-309	416	3	(	(	PUNCT
ftr-309	416	4	providing	provide	VERB
ftr-309	416	5	that	that	DET
ftr-309	416	6	gain	gain	NOUN
ftr-309	416	7	from	from	ADP
ftr-309	416	8	the	the	DET
ftr-309	416	9	sale	sale	NOUN
ftr-309	416	10	of	of	ADP
ftr-309	416	11	a	a	DET
ftr-309	416	12	partnership	partnership	NOUN
ftr-309	416	13	interest	interest	NOUN
ftr-309	416	14	is	be	AUX
ftr-309	416	15	treated	treat	VERB
ftr-309	416	16	as	as	ADP
ftr-309	416	17	capital	capital	NOUN
ftr-309	416	18	gain	gain	NOUN
ftr-309	416	19	subject	subject	ADJ
ftr-309	416	20	to	to	ADP
ftr-309	416	21	the	the	DET
ftr-309	416	22	exceptions	exception	NOUN
ftr-309	416	23	set	set	VERB
ftr-309	416	24	forth	forth	ADP
ftr-309	416	25	in	in	ADP
ftr-309	416	26	section	section	NOUN
ftr-309	416	27	751	751	NUM
ftr-309	416	28	which	which	PRON
ftr-309	416	29	would	would	AUX
ftr-309	416	30	not	not	PART
ftr-309	416	31	apply	apply	VERB
ftr-309	416	32	to	to	ADP
ftr-309	416	33	a	a	DET
ftr-309	416	34	partnership	partnership	NOUN
ftr-309	416	35	that	that	PRON
ftr-309	416	36	holds	hold	VERB
ftr-309	416	37	no	no	DET
ftr-309	416	38	assets	asset	NOUN
ftr-309	416	39	other	other	ADJ
ftr-309	416	40	than	than	ADP
ftr-309	416	41	cash	cash	NOUN
ftr-309	416	42	)	)	PUNCT
ftr-309	416	43	.	.	PUNCT
ftr-309	417	1	[	[	X
ftr-309	417	2	vol	vol	NOUN
ftr-309	417	3	.	.	PUNCT
ftr-309	418	1	14:5170	14:5170	NUM
ftr-309	418	2	2013	2013	NUM
ftr-309	418	3	]	]	PUNCT
ftr-309	418	4	was	be	AUX
ftr-309	418	5	blackstone	blackstone	NOUN
ftr-309	418	6	's	's	PART
ftr-309	418	7	initial	initial	ADJ
ftr-309	418	8	public	public	ADJ
ftr-309	418	9	offering	offering	NOUN
ftr-309	418	10	too	too	ADV
ftr-309	418	11	good	good	ADJ
ftr-309	418	12	to	to	PART
ftr-309	418	13	be	be	AUX
ftr-309	418	14	true	true	ADJ
ftr-309	418	15	?	?	PUNCT
ftr-309	419	1	motivated	motivated	ADJ
ftr-309	419	2	allocations.81	allocations.81	NOUN
ftr-309	419	3	moreover	moreover	ADV
ftr-309	419	4	,	,	PUNCT
ftr-309	419	5	the	the	DET
ftr-309	419	6	rules	rule	NOUN
ftr-309	419	7	strive	strive	VERB
ftr-309	419	8	to	to	PART
ftr-309	419	9	accomplish	accomplish	VERB
ftr-309	419	10	this	this	DET
ftr-309	419	11	goal	goal	NOUN
ftr-309	419	12	by	by	ADP
ftr-309	419	13	requiring	require	VERB
ftr-309	419	14	a	a	DET
ftr-309	419	15	link	link	NOUN
ftr-309	419	16	between	between	ADP
ftr-309	419	17	tax	tax	NOUN
ftr-309	419	18	allocations	allocation	NOUN
ftr-309	419	19	and	and	CCONJ
ftr-309	419	20	the	the	DET
ftr-309	419	21	partners	partner	NOUN
ftr-309	419	22	'	'	PART
ftr-309	419	23	economic	economic	ADJ
ftr-309	419	24	benefits	benefit	NOUN
ftr-309	419	25	and	and	CCONJ
ftr-309	419	26	burdens	burden	NOUN
ftr-309	419	27	.	.	PUNCT
ftr-309	420	1	to	to	PART
ftr-309	420	2	demonstrate	demonstrate	VERB
ftr-309	420	3	,	,	PUNCT
ftr-309	420	4	consider	consider	VERB
ftr-309	420	5	the	the	DET
ftr-309	420	6	following	follow	VERB
ftr-309	420	7	example	example	NOUN
ftr-309	420	8	.	.	PUNCT
ftr-309	421	1	example	example	NOUN
ftr-309	422	1	2	2	NUM
ftr-309	422	2	.	.	X
ftr-309	422	3	assume	assume	VERB
ftr-309	422	4	the	the	DET
ftr-309	422	5	same	same	ADJ
ftr-309	422	6	facts	fact	NOUN
ftr-309	422	7	as	as	ADP
ftr-309	422	8	example	example	NOUN
ftr-309	422	9	1	1	NUM
ftr-309	422	10	.	.	PUNCT
ftr-309	423	1	given	give	VERB
ftr-309	423	2	the	the	DET
ftr-309	423	3	restrictions	restriction	NOUN
ftr-309	423	4	on	on	ADP
ftr-309	423	5	how	how	SCONJ
ftr-309	423	6	partnerships	partnership	NOUN
ftr-309	423	7	can	can	AUX
ftr-309	423	8	allocate	allocate	VERB
ftr-309	423	9	tax	tax	NOUN
ftr-309	423	10	items	item	NOUN
ftr-309	423	11	,	,	PUNCT
ftr-309	423	12	the	the	DET
ftr-309	423	13	partnership	partnership	NOUN
ftr-309	423	14	could	could	AUX
ftr-309	423	15	only	only	ADV
ftr-309	423	16	allocate	allocate	VERB
ftr-309	423	17	$	$	SYM
ftr-309	423	18	50	50	NUM
ftr-309	423	19	more	more	ADJ
ftr-309	423	20	tax	tax	NOUN
ftr-309	423	21	gain	gain	NOUN
ftr-309	423	22	from	from	ADP
ftr-309	423	23	the	the	DET
ftr-309	423	24	sale	sale	NOUN
ftr-309	423	25	of	of	ADP
ftr-309	423	26	the	the	DET
ftr-309	423	27	land	land	NOUN
ftr-309	423	28	to	to	ADP
ftr-309	423	29	leslie	leslie	PROPN
ftr-309	423	30	than	than	ADP
ftr-309	423	31	tom	tom	PROPN
ftr-309	423	32	if	if	SCONJ
ftr-309	423	33	leslie	leslie	PROPN
ftr-309	423	34	and	and	CCONJ
ftr-309	423	35	tom	tom	PROPN
ftr-309	423	36	agreed	agree	VERB
ftr-309	423	37	that	that	SCONJ
ftr-309	423	38	leslie	leslie	PROPN
ftr-309	423	39	would	would	AUX
ftr-309	423	40	receive	receive	VERB
ftr-309	423	41	$	$	SYM
ftr-309	423	42	50	50	NUM
ftr-309	423	43	more	more	ADJ
ftr-309	423	44	cash	cash	NOUN
ftr-309	423	45	than	than	ADP
ftr-309	423	46	tom	tom	PROPN
ftr-309	423	47	.	.	PUNCT
ftr-309	424	1	thus	thus	ADV
ftr-309	424	2	,	,	PUNCT
ftr-309	424	3	the	the	DET
ftr-309	424	4	partnership	partnership	NOUN
ftr-309	424	5	could	could	AUX
ftr-309	424	6	allocate	allocate	VERB
ftr-309	424	7	all	all	DET
ftr-309	424	8	$	$	SYM
ftr-309	424	9	100	100	NUM
ftr-309	424	10	tax	tax	NOUN
ftr-309	424	11	gain	gain	NOUN
ftr-309	424	12	from	from	ADP
ftr-309	424	13	the	the	DET
ftr-309	424	14	land	land	NOUN
ftr-309	424	15	81	81	NUM
ftr-309	424	16	.	.	PUNCT
ftr-309	425	1	see	see	VERB
ftr-309	425	2	,	,	PUNCT
ftr-309	425	3	e.g.	e.g.	ADV
ftr-309	425	4	,	,	PUNCT
ftr-309	425	5	1	1	NUM
ftr-309	425	6	arthur	arthur	PROPN
ftr-309	425	7	b.	b.	PROPN
ftr-309	425	8	willis	willis	PROPN
ftr-309	425	9	&	&	CCONJ
ftr-309	425	10	philip	philip	PROPN
ftr-309	425	11	f.	f.	PROPN
ftr-309	425	12	postlewaite	postlewaite	PROPN
ftr-309	425	13	,	,	PUNCT
ftr-309	425	14	partnership	partnership	NOUN
ftr-309	425	15	taxation	taxation	NOUN
ftr-309	425	16	i	i	PROPN
ftr-309	425	17	10.01[3][b	10.01[3][b	PROPN
ftr-309	425	18	]	]	X
ftr-309	425	19	(	(	PUNCT
ftr-309	425	20	7th	7th	ADJ
ftr-309	425	21	ed	ed	NOUN
ftr-309	425	22	.	.	PROPN
ftr-309	425	23	2011	2011	NUM
ftr-309	425	24	)	)	PUNCT
ftr-309	426	1	[	[	X
ftr-309	426	2	hereinafter	hereinafter	NOUN
ftr-309	426	3	willis	willis	PROPN
ftr-309	426	4	&	&	CCONJ
ftr-309	426	5	postlewaite	postlewaite	PROPN
ftr-309	426	6	,	,	PUNCT
ftr-309	426	7	partnership	partnership	NOUN
ftr-309	426	8	taxation	taxation	NOUN
ftr-309	426	9	]	]	PUNCT
ftr-309	426	10	(	(	PUNCT
ftr-309	426	11	discussing	discuss	VERB
ftr-309	426	12	how	how	SCONJ
ftr-309	426	13	the	the	DET
ftr-309	426	14	purpose	purpose	NOUN
ftr-309	426	15	of	of	ADP
ftr-309	426	16	the	the	DET
ftr-309	426	17	restrictions	restriction	NOUN
ftr-309	426	18	on	on	ADP
ftr-309	426	19	partnership	partnership	NOUN
ftr-309	426	20	tax	tax	NOUN
ftr-309	426	21	allocations	allocation	NOUN
ftr-309	426	22	is	be	AUX
ftr-309	426	23	to	to	PART
ftr-309	426	24	prevent	prevent	VERB
ftr-309	426	25	using	use	VERB
ftr-309	426	26	partnership	partnership	NOUN
ftr-309	426	27	tax	tax	NOUN
ftr-309	426	28	allocations	allocation	NOUN
ftr-309	426	29	for	for	ADP
ftr-309	426	30	tax	tax	NOUN
ftr-309	426	31	avoidance	avoidance	NOUN
ftr-309	426	32	purposes	purpose	NOUN
ftr-309	426	33	)	)	PUNCT
ftr-309	426	34	;	;	PUNCT
ftr-309	426	35	david	david	PROPN
ftr-309	426	36	hasen	hasen	PROPN
ftr-309	426	37	,	,	PUNCT
ftr-309	426	38	partnership	partnership	NOUN
ftr-309	426	39	special	special	ADJ
ftr-309	426	40	allocations	allocation	NOUN
ftr-309	426	41	revisited	revisit	VERB
ftr-309	426	42	,	,	PUNCT
ftr-309	426	43	13	13	NUM
ftr-309	426	44	fla	fla	NOUN
ftr-309	426	45	.	.	PUNCT
ftr-309	427	1	tax	tax	PROPN
ftr-309	427	2	rev	rev	PROPN
ftr-309	427	3	.	.	PROPN
ftr-309	427	4	349	349	NUM
ftr-309	427	5	,	,	PUNCT
ftr-309	427	6	350	350	NUM
ftr-309	427	7	(	(	PUNCT
ftr-309	427	8	2012	2012	NUM
ftr-309	427	9	)	)	PUNCT
ftr-309	427	10	(	(	PUNCT
ftr-309	427	11	"	"	PUNCT
ftr-309	427	12	congress	congress	PROPN
ftr-309	427	13	seems	seem	VERB
ftr-309	427	14	to	to	PART
ftr-309	427	15	have	have	AUX
ftr-309	427	16	had	have	VERB
ftr-309	427	17	in	in	ADP
ftr-309	427	18	mind	mind	NOUN
ftr-309	427	19	that	that	SCONJ
ftr-309	427	20	income	income	NOUN
ftr-309	427	21	assignments	assignment	NOUN
ftr-309	427	22	among	among	ADP
ftr-309	427	23	partners	partner	NOUN
ftr-309	427	24	should	should	AUX
ftr-309	427	25	be	be	AUX
ftr-309	427	26	permissible	permissible	ADJ
ftr-309	427	27	as	as	ADV
ftr-309	427	28	long	long	ADV
ftr-309	427	29	as	as	SCONJ
ftr-309	427	30	they	they	PRON
ftr-309	427	31	are	be	AUX
ftr-309	427	32	not	not	PART
ftr-309	427	33	,	,	PUNCT
ftr-309	427	34	or	or	CCONJ
ftr-309	427	35	are	be	AUX
ftr-309	427	36	not	not	PART
ftr-309	427	37	unduly	unduly	ADJ
ftr-309	427	38	,	,	PUNCT
ftr-309	427	39	tax	tax	NOUN
ftr-309	427	40	-	-	PUNCT
ftr-309	427	41	motivated	motivated	ADJ
ftr-309	427	42	.	.	PUNCT
ftr-309	428	1	"	"	PUNCT
ftr-309	428	2	)	)	PUNCT
ftr-309	428	3	;	;	PUNCT
ftr-309	428	4	andrea	andrea	PROPN
ftr-309	428	5	monroe	monroe	PROPN
ftr-309	428	6	,	,	PUNCT
ftr-309	428	7	too	too	ADV
ftr-309	428	8	big	big	ADJ
ftr-309	428	9	to	to	PART
ftr-309	428	10	fail	fail	VERB
ftr-309	428	11	:	:	PUNCT
ftr-309	428	12	the	the	DET
ftr-309	428	13	problem	problem	NOUN
ftr-309	428	14	of	of	ADP
ftr-309	428	15	partnership	partnership	NOUN
ftr-309	428	16	allocations	allocation	NOUN
ftr-309	428	17	,	,	PUNCT
ftr-309	428	18	30	30	NUM
ftr-309	428	19	va	va	NOUN
ftr-309	428	20	.	.	PUNCT
ftr-309	428	21	tax	tax	PROPN
ftr-309	428	22	rev	rev	PROPN
ftr-309	428	23	.	.	PROPN
ftr-309	428	24	465	465	NUM
ftr-309	428	25	,	,	PUNCT
ftr-309	428	26	487	487	NUM
ftr-309	428	27	(	(	PUNCT
ftr-309	428	28	2012	2012	NUM
ftr-309	428	29	)	)	PUNCT
ftr-309	429	1	[	[	X
ftr-309	429	2	hereinafter	hereinafter	NOUN
ftr-309	429	3	monroe	monroe	PROPN
ftr-309	429	4	,	,	PUNCT
ftr-309	429	5	too	too	ADV
ftr-309	429	6	big	big	ADJ
ftr-309	429	7	to	to	PART
ftr-309	429	8	fail	fail	VERB
ftr-309	429	9	]	]	PUNCT
ftr-309	429	10	(	(	PUNCT
ftr-309	429	11	"	"	PUNCT
ftr-309	429	12	[	[	X
ftr-309	429	13	t]he	t]he	ADV
ftr-309	429	14	substantiality	substantiality	NOUN
ftr-309	429	15	requirement	requirement	NOUN
ftr-309	429	16	.	.	PUNCT
ftr-309	429	17	.	.	PUNCT
ftr-309	429	18	.	.	PUNCT
ftr-309	430	1	became	become	VERB
ftr-309	430	2	the	the	DET
ftr-309	430	3	treasury	treasury	NOUN
ftr-309	430	4	's	's	PART
ftr-309	430	5	chief	chief	ADJ
ftr-309	430	6	tool	tool	NOUN
ftr-309	430	7	for	for	ADP
ftr-309	430	8	distinguishing	distinguish	VERB
ftr-309	430	9	legitimate	legitimate	ADJ
ftr-309	430	10	from	from	ADP
ftr-309	430	11	abusive	abusive	ADJ
ftr-309	430	12	allocations	allocation	NOUN
ftr-309	430	13	.	.	PUNCT
ftr-309	431	1	"	"	PUNCT
ftr-309	431	2	)	)	PUNCT
ftr-309	431	3	.	.	PUNCT
ftr-309	432	1	this	this	PRON
ftr-309	432	2	is	be	AUX
ftr-309	432	3	not	not	PART
ftr-309	432	4	to	to	PART
ftr-309	432	5	say	say	VERB
ftr-309	432	6	that	that	SCONJ
ftr-309	432	7	the	the	DET
ftr-309	432	8	treasury	treasury	PROPN
ftr-309	432	9	regulations	regulation	NOUN
ftr-309	432	10	contain	contain	VERB
ftr-309	432	11	a	a	DET
ftr-309	432	12	requirement	requirement	NOUN
ftr-309	432	13	that	that	SCONJ
ftr-309	432	14	allocations	allocation	NOUN
ftr-309	432	15	have	have	AUX
ftr-309	432	16	a	a	DET
ftr-309	432	17	business	business	NOUN
ftr-309	432	18	purpose	purpose	NOUN
ftr-309	432	19	.	.	PUNCT
ftr-309	433	1	rather	rather	ADV
ftr-309	433	2	,	,	PUNCT
ftr-309	433	3	the	the	DET
ftr-309	433	4	point	point	NOUN
ftr-309	433	5	is	be	AUX
ftr-309	433	6	simply	simply	ADV
ftr-309	433	7	that	that	SCONJ
ftr-309	433	8	the	the	DET
ftr-309	433	9	technical	technical	ADJ
ftr-309	433	10	rules	rule	NOUN
ftr-309	433	11	in	in	ADP
ftr-309	433	12	the	the	DET
ftr-309	433	13	treasury	treasury	NOUN
ftr-309	433	14	regulations	regulation	NOUN
ftr-309	433	15	exist	exist	VERB
ftr-309	433	16	for	for	ADP
ftr-309	433	17	a	a	DET
ftr-309	433	18	reason	reason	NOUN
ftr-309	433	19	,	,	PUNCT
ftr-309	433	20	and	and	CCONJ
ftr-309	433	21	that	that	DET
ftr-309	433	22	reason	reason	NOUN
ftr-309	433	23	is	be	AUX
ftr-309	433	24	to	to	PART
ftr-309	433	25	sort	sort	VERB
ftr-309	433	26	between	between	ADP
ftr-309	433	27	allocations	allocation	NOUN
ftr-309	433	28	that	that	PRON
ftr-309	433	29	are	be	AUX
ftr-309	433	30	excessively	excessively	ADV
ftr-309	433	31	taxmotivated	taxmotivate	VERB
ftr-309	433	32	and	and	CCONJ
ftr-309	433	33	allocations	allocation	NOUN
ftr-309	433	34	that	that	PRON
ftr-309	433	35	have	have	VERB
ftr-309	433	36	at	at	ADV
ftr-309	433	37	least	least	ADJ
ftr-309	433	38	some	some	DET
ftr-309	433	39	non	non	ADJ
ftr-309	433	40	-	-	ADJ
ftr-309	433	41	tax	tax	ADJ
ftr-309	433	42	effect	effect	NOUN
ftr-309	433	43	.	.	PUNCT
ftr-309	434	1	82	82	X
ftr-309	434	2	.	.	PUNCT
ftr-309	435	1	see	see	VERB
ftr-309	435	2	,	,	PUNCT
ftr-309	435	3	e.g.	e.g.	ADV
ftr-309	435	4	,	,	PUNCT
ftr-309	435	5	1	1	NUM
ftr-309	435	6	william	william	PROPN
ftr-309	435	7	s.	s.	PROPN
ftr-309	435	8	mckee	mckee	PROPN
ftr-309	435	9	,	,	PUNCT
ftr-309	435	10	william	william	PROPN
ftr-309	435	11	f.	f.	PROPN
ftr-309	435	12	nelson	nelson	PROPN
ftr-309	435	13	&	&	CCONJ
ftr-309	435	14	robert	robert	PROPN
ftr-309	435	15	l.	l.	PROPN
ftr-309	435	16	whitmire	whitmire	PROPN
ftr-309	435	17	,	,	PUNCT
ftr-309	435	18	federal	federal	ADJ
ftr-309	435	19	taxation	taxation	NOUN
ftr-309	435	20	of	of	ADP
ftr-309	435	21	partnerships	partnership	NOUN
ftr-309	435	22	and	and	CCONJ
ftr-309	435	23	partners	partner	NOUN
ftr-309	435	24	10.02[1	10.02[1	NUM
ftr-309	435	25	]	]	X
ftr-309	435	26	(	(	PUNCT
ftr-309	435	27	3d	3d	NUM
ftr-309	435	28	ed	ed	NOUN
ftr-309	435	29	.	.	PUNCT
ftr-309	435	30	2004	2004	NUM
ftr-309	435	31	)	)	PUNCT
ftr-309	436	1	[	[	X
ftr-309	436	2	hereinafter	hereinafter	NOUN
ftr-309	436	3	mckee	mckee	PROPN
ftr-309	436	4	,	,	PUNCT
ftr-309	436	5	nelson	nelson	PROPN
ftr-309	436	6	&	&	CCONJ
ftr-309	436	7	whitmore	whitmore	PROPN
ftr-309	436	8	,	,	PUNCT
ftr-309	436	9	partnerships	partnership	NOUN
ftr-309	436	10	and	and	CCONJ
ftr-309	436	11	partners	partner	NOUN
ftr-309	436	12	]	]	PUNCT
ftr-309	436	13	(	(	PUNCT
ftr-309	436	14	"	"	PUNCT
ftr-309	436	15	the	the	DET
ftr-309	436	16	complexity	complexity	NOUN
ftr-309	436	17	and	and	CCONJ
ftr-309	436	18	detail	detail	NOUN
ftr-309	436	19	of	of	ADP
ftr-309	436	20	these	these	DET
ftr-309	436	21	regulations	regulation	NOUN
ftr-309	436	22	should	should	AUX
ftr-309	436	23	not	not	PART
ftr-309	436	24	obscure	obscure	VERB
ftr-309	436	25	the	the	DET
ftr-309	436	26	overriding	overriding	ADJ
ftr-309	436	27	principle	principle	NOUN
ftr-309	436	28	of	of	ADP
ftr-309	436	29	economic	economic	ADJ
ftr-309	436	30	substance	substance	NOUN
ftr-309	436	31	upon	upon	SCONJ
ftr-309	436	32	which	which	PRON
ftr-309	436	33	they	they	PRON
ftr-309	436	34	are	be	AUX
ftr-309	436	35	based	base	VERB
ftr-309	436	36	.	.	PUNCT
ftr-309	437	1	if	if	SCONJ
ftr-309	437	2	a	a	DET
ftr-309	437	3	partner	partner	NOUN
ftr-309	437	4	will	will	AUX
ftr-309	437	5	benefit	benefit	VERB
ftr-309	437	6	economically	economically	ADV
ftr-309	437	7	from	from	ADP
ftr-309	437	8	an	an	DET
ftr-309	437	9	item	item	NOUN
ftr-309	437	10	of	of	ADP
ftr-309	437	11	partnership	partnership	NOUN
ftr-309	437	12	income	income	NOUN
ftr-309	437	13	or	or	CCONJ
ftr-309	437	14	gain	gain	NOUN
ftr-309	437	15	,	,	PUNCT
ftr-309	437	16	that	that	DET
ftr-309	437	17	item	item	NOUN
ftr-309	437	18	must	must	AUX
ftr-309	437	19	be	be	AUX
ftr-309	437	20	allocated	allocate	VERB
ftr-309	437	21	to	to	ADP
ftr-309	437	22	him	he	PRON
ftr-309	437	23	so	so	SCONJ
ftr-309	437	24	that	that	SCONJ
ftr-309	437	25	he	he	PRON
ftr-309	437	26	bears	bear	VERB
ftr-309	437	27	the	the	DET
ftr-309	437	28	correlative	correlative	ADJ
ftr-309	437	29	tax	tax	NOUN
ftr-309	437	30	burden	burden	NOUN
ftr-309	437	31	.	.	PUNCT
ftr-309	438	1	conversely	conversely	ADV
ftr-309	438	2	,	,	PUNCT
ftr-309	438	3	if	if	SCONJ
ftr-309	438	4	a	a	DET
ftr-309	438	5	partner	partner	NOUN
ftr-309	438	6	will	will	AUX
ftr-309	438	7	suffer	suffer	VERB
ftr-309	438	8	the	the	DET
ftr-309	438	9	economic	economic	ADJ
ftr-309	438	10	burden	burden	NOUN
ftr-309	438	11	of	of	ADP
ftr-309	438	12	an	an	DET
ftr-309	438	13	item	item	NOUN
ftr-309	438	14	of	of	ADP
ftr-309	438	15	partnership	partnership	NOUN
ftr-309	438	16	loss	loss	NOUN
ftr-309	438	17	or	or	CCONJ
ftr-309	438	18	deduction	deduction	NOUN
ftr-309	438	19	,	,	PUNCT
ftr-309	438	20	he	he	PRON
ftr-309	438	21	must	must	AUX
ftr-309	438	22	be	be	AUX
ftr-309	438	23	allocated	allocate	VERB
ftr-309	438	24	the	the	DET
ftr-309	438	25	associated	associated	ADJ
ftr-309	438	26	tax	tax	NOUN
ftr-309	438	27	benefit	benefit	NOUN
ftr-309	438	28	.	.	PUNCT
ftr-309	439	1	in	in	ADP
ftr-309	439	2	other	other	ADJ
ftr-309	439	3	words	word	NOUN
ftr-309	439	4	,	,	PUNCT
ftr-309	439	5	tax	tax	NOUN
ftr-309	439	6	must	must	AUX
ftr-309	439	7	follow	follow	VERB
ftr-309	439	8	economics	economic	NOUN
ftr-309	439	9	.	.	PUNCT
ftr-309	439	10	"	"	PUNCT
ftr-309	439	11	)	)	PUNCT
ftr-309	439	12	;	;	PUNCT
ftr-309	440	1	willis	willis	PROPN
ftr-309	440	2	&	&	CCONJ
ftr-309	440	3	postlewaite	postlewaite	PROPN
ftr-309	440	4	,	,	PUNCT
ftr-309	440	5	partnership	partnership	NOUN
ftr-309	440	6	taxation	taxation	NOUN
ftr-309	440	7	,	,	PUNCT
ftr-309	440	8	supra	supra	PROPN
ftr-309	440	9	note	note	PROPN
ftr-309	440	10	81	81	NUM
ftr-309	440	11	,	,	PUNCT
ftr-309	440	12	10.01[2	10.01[2	NOUN
ftr-309	440	13	]	]	PUNCT
ftr-309	440	14	(	(	PUNCT
ftr-309	440	15	"	"	PUNCT
ftr-309	440	16	[	[	X
ftr-309	440	17	ujnder	ujnder	VERB
ftr-309	440	18	the	the	DET
ftr-309	440	19	statutory	statutory	ADJ
ftr-309	440	20	scheme	scheme	NOUN
ftr-309	440	21	,	,	PUNCT
ftr-309	440	22	the	the	DET
ftr-309	440	23	items	item	NOUN
ftr-309	440	24	of	of	ADP
ftr-309	440	25	partnership	partnership	NOUN
ftr-309	440	26	tax	tax	NOUN
ftr-309	440	27	income	income	NOUN
ftr-309	440	28	and	and	CCONJ
ftr-309	440	29	loss	loss	NOUN
ftr-309	440	30	must	must	AUX
ftr-309	440	31	be	be	AUX
ftr-309	440	32	allocated	allocate	VERB
ftr-309	440	33	to	to	ADP
ftr-309	440	34	the	the	DET
ftr-309	440	35	partners	partner	NOUN
ftr-309	440	36	who	who	PRON
ftr-309	440	37	realize	realize	VERB
ftr-309	440	38	the	the	DET
ftr-309	440	39	economic	economic	ADJ
ftr-309	440	40	benefits	benefit	NOUN
ftr-309	440	41	or	or	CCONJ
ftr-309	440	42	bear	bear	VERB
ftr-309	440	43	the	the	DET
ftr-309	440	44	economic	economic	ADJ
ftr-309	440	45	burdens	burden	NOUN
ftr-309	440	46	associated	associate	VERB
ftr-309	440	47	with	with	ADP
ftr-309	440	48	those	those	DET
ftr-309	440	49	items	item	NOUN
ftr-309	440	50	.	.	PUNCT
ftr-309	441	1	"	"	PUNCT
ftr-309	441	2	)	)	PUNCT
ftr-309	441	3	;	;	PUNCT
ftr-309	441	4	monroe	monroe	PROPN
ftr-309	441	5	,	,	PUNCT
ftr-309	441	6	too	too	ADV
ftr-309	441	7	big	big	ADJ
ftr-309	441	8	to	to	PART
ftr-309	441	9	fail	fail	VERB
ftr-309	441	10	,	,	PUNCT
ftr-309	441	11	supra	supra	PROPN
ftr-309	441	12	note	note	NOUN
ftr-309	441	13	81	81	NUM
ftr-309	441	14	,	,	PUNCT
ftr-309	441	15	at	at	ADP
ftr-309	441	16	487	487	NUM
ftr-309	441	17	(	(	PUNCT
ftr-309	441	18	stating	state	VERB
ftr-309	441	19	that	that	SCONJ
ftr-309	441	20	the	the	DET
ftr-309	441	21	partnership	partnership	NOUN
ftr-309	441	22	tax	tax	NOUN
ftr-309	441	23	allocation	allocation	NOUN
ftr-309	441	24	rules	rule	NOUN
ftr-309	441	25	require	require	VERB
ftr-309	441	26	that	that	SCONJ
ftr-309	441	27	"	"	PUNCT
ftr-309	441	28	if	if	SCONJ
ftr-309	441	29	a	a	DET
ftr-309	441	30	partner	partner	NOUN
ftr-309	441	31	receives	receive	VERB
ftr-309	441	32	an	an	DET
ftr-309	441	33	allocation	allocation	NOUN
ftr-309	441	34	for	for	ADP
ftr-309	441	35	tax	tax	NOUN
ftr-309	441	36	purposes	purpose	NOUN
ftr-309	441	37	,	,	PUNCT
ftr-309	441	38	then	then	ADV
ftr-309	441	39	she	she	PRON
ftr-309	441	40	must	must	AUX
ftr-309	441	41	also	also	ADV
ftr-309	441	42	bear	bear	VERB
ftr-309	441	43	the	the	DET
ftr-309	441	44	economic	economic	ADJ
ftr-309	441	45	benefit	benefit	NOUN
ftr-309	441	46	or	or	CCONJ
ftr-309	441	47	burden	burden	NOUN
ftr-309	441	48	corresponding	correspond	VERB
ftr-309	441	49	to	to	ADP
ftr-309	441	50	such	such	ADJ
ftr-309	441	51	allocated	allocate	VERB
ftr-309	441	52	item	item	NOUN
ftr-309	441	53	"	"	PUNCT
ftr-309	441	54	)	)	PUNCT
ftr-309	441	55	;	;	PUNCT
ftr-309	441	56	gregg	gregg	PROPN
ftr-309	441	57	d.	d.	PROPN
ftr-309	441	58	polsky	polsky	PROPN
ftr-309	441	59	,	,	PUNCT
ftr-309	441	60	deterring	deter	VERB
ftr-309	441	61	taxdriven	taxdriven	ADJ
ftr-309	441	62	partnership	partnership	NOUN
ftr-309	441	63	allocations	allocation	NOUN
ftr-309	441	64	,	,	PUNCT
ftr-309	441	65	64	64	NUM
ftr-309	441	66	tax	tax	NOUN
ftr-309	441	67	law	law	NOUN
ftr-309	441	68	.	.	PUNCT
ftr-309	442	1	97	97	NUM
ftr-309	442	2	,	,	PUNCT
ftr-309	442	3	97	97	NUM
ftr-309	442	4	(	(	PUNCT
ftr-309	442	5	2010	2010	NUM
ftr-309	442	6	)	)	PUNCT
ftr-309	443	1	[	[	X
ftr-309	443	2	hereinafter	hereinafter	NOUN
ftr-309	443	3	polsky	polsky	NOUN
ftr-309	443	4	,	,	PUNCT
ftr-309	443	5	deterring	deter	VERB
ftr-309	443	6	]	]	PUNCT
ftr-309	443	7	(	(	PUNCT
ftr-309	443	8	describing	describe	VERB
ftr-309	443	9	the	the	DET
ftr-309	443	10	purpose	purpose	NOUN
ftr-309	443	11	of	of	ADP
ftr-309	443	12	one	one	NUM
ftr-309	443	13	part	part	NOUN
ftr-309	443	14	of	of	ADP
ftr-309	443	15	the	the	DET
ftr-309	443	16	allocation	allocation	NOUN
ftr-309	443	17	rules	rule	NOUN
ftr-309	443	18	as	as	ADP
ftr-309	443	19	"	"	PUNCT
ftr-309	443	20	requiring	require	VERB
ftr-309	443	21	that	that	SCONJ
ftr-309	443	22	allocations	allocation	NOUN
ftr-309	443	23	be	be	AUX
ftr-309	443	24	consistent	consistent	ADJ
ftr-309	443	25	with	with	ADP
ftr-309	443	26	the	the	DET
ftr-309	443	27	economic	economic	ADJ
ftr-309	443	28	deal	deal	NOUN
ftr-309	443	29	"	"	PUNCT
ftr-309	443	30	)	)	PUNCT
ftr-309	443	31	.	.	PUNCT
ftr-309	444	1	171	171	NUM
ftr-309	444	2	florida	florida	PROPN
ftr-309	444	3	tax	tax	NOUN
ftr-309	444	4	review	review	NOUN
ftr-309	444	5	to	to	ADP
ftr-309	444	6	leslie	leslie	PROPN
ftr-309	444	7	if	if	SCONJ
ftr-309	444	8	the	the	DET
ftr-309	444	9	partnership	partnership	NOUN
ftr-309	444	10	distributed	distribute	VERB
ftr-309	444	11	$	$	SYM
ftr-309	444	12	200	200	NUM
ftr-309	444	13	cash	cash	NOUN
ftr-309	444	14	to	to	ADP
ftr-309	444	15	leslie	leslie	PROPN
ftr-309	444	16	and	and	CCONJ
ftr-309	444	17	$	$	SYM
ftr-309	444	18	100	100	NUM
ftr-309	444	19	cash	cash	NOUN
ftr-309	444	20	to	to	ADP
ftr-309	444	21	tom	tom	PROPN
ftr-309	444	22	on	on	ADP
ftr-309	444	23	liquidation.8	liquidation.8	PROPN
ftr-309	444	24	3	3	NUM
ftr-309	444	25	tying	tie	VERB
ftr-309	444	26	tax	tax	NOUN
ftr-309	444	27	allocations	allocation	NOUN
ftr-309	444	28	more	more	ADV
ftr-309	444	29	closely	closely	ADV
ftr-309	444	30	to	to	ADP
ftr-309	444	31	economic	economic	ADJ
ftr-309	444	32	gains	gain	NOUN
ftr-309	444	33	and	and	CCONJ
ftr-309	444	34	losses	loss	NOUN
ftr-309	444	35	discourages	discourage	VERB
ftr-309	444	36	tax	tax	NOUN
ftr-309	444	37	-	-	PUNCT
ftr-309	444	38	motivated	motivate	VERB
ftr-309	444	39	allocation	allocation	NOUN
ftr-309	444	40	schemes	scheme	NOUN
ftr-309	444	41	.	.	PUNCT
ftr-309	445	1	in	in	ADP
ftr-309	445	2	example	example	NOUN
ftr-309	445	3	1	1	NUM
ftr-309	445	4	,	,	PUNCT
ftr-309	445	5	when	when	SCONJ
ftr-309	445	6	there	there	PRON
ftr-309	445	7	were	be	VERB
ftr-309	445	8	no	no	DET
ftr-309	445	9	restrictions	restriction	NOUN
ftr-309	445	10	on	on	ADP
ftr-309	445	11	how	how	SCONJ
ftr-309	445	12	a	a	DET
ftr-309	445	13	partnership	partnership	NOUN
ftr-309	445	14	could	could	AUX
ftr-309	445	15	allocate	allocate	VERB
ftr-309	445	16	tax	tax	NOUN
ftr-309	445	17	items	item	NOUN
ftr-309	445	18	,	,	PUNCT
ftr-309	445	19	the	the	DET
ftr-309	445	20	partnership	partnership	NOUN
ftr-309	445	21	could	could	AUX
ftr-309	445	22	allocate	allocate	VERB
ftr-309	445	23	less	less	ADJ
ftr-309	445	24	tax	tax	NOUN
ftr-309	445	25	gain	gain	NOUN
ftr-309	445	26	to	to	ADP
ftr-309	445	27	tom	tom	PROPN
ftr-309	445	28	(	(	PUNCT
ftr-309	445	29	resulting	result	VERB
ftr-309	445	30	in	in	ADP
ftr-309	445	31	tax	tax	NOUN
ftr-309	445	32	savings	saving	NOUN
ftr-309	445	33	)	)	PUNCT
ftr-309	445	34	without	without	ADP
ftr-309	445	35	distributing	distribute	VERB
ftr-309	445	36	less	less	ADJ
ftr-309	445	37	cash	cash	NOUN
ftr-309	445	38	to	to	ADP
ftr-309	445	39	tom	tom	PROPN
ftr-309	445	40	.	.	PROPN
ftr-309	445	41	stated	state	VERB
ftr-309	445	42	differently	differently	ADV
ftr-309	445	43	,	,	PUNCT
ftr-309	445	44	assume	assume	VERB
ftr-309	445	45	that	that	SCONJ
ftr-309	445	46	,	,	PUNCT
ftr-309	445	47	for	for	ADP
ftr-309	445	48	business	business	NOUN
ftr-309	445	49	reasons	reason	NOUN
ftr-309	445	50	,	,	PUNCT
ftr-309	445	51	the	the	DET
ftr-309	445	52	partners	partner	NOUN
ftr-309	445	53	have	have	AUX
ftr-309	445	54	agreed	agree	VERB
ftr-309	445	55	to	to	PART
ftr-309	445	56	share	share	VERB
ftr-309	445	57	all	all	DET
ftr-309	445	58	cash	cash	NOUN
ftr-309	445	59	equally	equally	ADV
ftr-309	445	60	.	.	PUNCT
ftr-309	446	1	in	in	ADP
ftr-309	446	2	such	such	DET
ftr-309	446	3	a	a	DET
ftr-309	446	4	case	case	NOUN
ftr-309	446	5	and	and	CCONJ
ftr-309	446	6	absent	absent	ADJ
ftr-309	446	7	restrictions	restriction	NOUN
ftr-309	446	8	on	on	ADP
ftr-309	446	9	partnership	partnership	NOUN
ftr-309	446	10	tax	tax	NOUN
ftr-309	446	11	allocations	allocation	NOUN
ftr-309	446	12	,	,	PUNCT
ftr-309	446	13	the	the	DET
ftr-309	446	14	partners	partner	NOUN
ftr-309	446	15	would	would	AUX
ftr-309	446	16	agree	agree	VERB
ftr-309	446	17	to	to	ADP
ftr-309	446	18	the	the	DET
ftr-309	446	19	allocations	allocation	NOUN
ftr-309	446	20	in	in	ADP
ftr-309	446	21	example	example	NOUN
ftr-309	446	22	1	1	NUM
ftr-309	446	23	purely	purely	ADV
ftr-309	446	24	for	for	ADP
ftr-309	446	25	tax	tax	NOUN
ftr-309	446	26	reasons	reason	NOUN
ftr-309	446	27	because	because	SCONJ
ftr-309	446	28	they	they	PRON
ftr-309	446	29	could	could	AUX
ftr-309	446	30	save	save	VERB
ftr-309	446	31	taxes	taxis	NOUN
ftr-309	446	32	without	without	ADP
ftr-309	446	33	disturbing	disturb	VERB
ftr-309	446	34	their	their	PRON
ftr-309	446	35	intended	intend	VERB
ftr-309	446	36	business	business	NOUN
ftr-309	446	37	deal	deal	NOUN
ftr-309	446	38	.	.	PUNCT
ftr-309	447	1	by	by	ADP
ftr-309	447	2	contrast	contrast	NOUN
ftr-309	447	3	,	,	PUNCT
ftr-309	447	4	example	example	NOUN
ftr-309	447	5	2	2	NUM
ftr-309	447	6	reflects	reflect	VERB
ftr-309	447	7	the	the	DET
ftr-309	447	8	current	current	ADJ
ftr-309	447	9	restrictions	restriction	NOUN
ftr-309	447	10	on	on	ADP
ftr-309	447	11	tax	tax	NOUN
ftr-309	447	12	allocations.84	allocations.84	PROPN
ftr-309	447	13	assume	assume	VERB
ftr-309	447	14	that	that	SCONJ
ftr-309	447	15	,	,	PUNCT
ftr-309	447	16	for	for	ADP
ftr-309	447	17	business	business	NOUN
ftr-309	447	18	reasons	reason	NOUN
ftr-309	447	19	,	,	PUNCT
ftr-309	447	20	the	the	DET
ftr-309	447	21	partners	partner	NOUN
ftr-309	447	22	have	have	AUX
ftr-309	447	23	agreed	agree	VERB
ftr-309	447	24	that	that	SCONJ
ftr-309	447	25	the	the	DET
ftr-309	447	26	partnership	partnership	NOUN
ftr-309	447	27	will	will	AUX
ftr-309	447	28	distribute	distribute	VERB
ftr-309	447	29	all	all	DET
ftr-309	447	30	cash	cash	NOUN
ftr-309	447	31	equally	equally	ADV
ftr-309	447	32	between	between	ADP
ftr-309	447	33	tom	tom	PROPN
ftr-309	447	34	and	and	CCONJ
ftr-309	447	35	leslie	leslie	PROPN
ftr-309	447	36	.	.	PUNCT
ftr-309	448	1	in	in	ADP
ftr-309	448	2	order	order	NOUN
ftr-309	448	3	to	to	PART
ftr-309	448	4	distribute	distribute	VERB
ftr-309	448	5	cash	cash	NOUN
ftr-309	448	6	in	in	ADP
ftr-309	448	7	this	this	DET
ftr-309	448	8	manner	manner	NOUN
ftr-309	448	9	,	,	PUNCT
ftr-309	448	10	the	the	DET
ftr-309	448	11	partnership	partnership	NOUN
ftr-309	448	12	must	must	AUX
ftr-309	448	13	also	also	ADV
ftr-309	448	14	allocate	allocate	VERB
ftr-309	448	15	tax	tax	NOUN
ftr-309	448	16	gain	gain	NOUN
ftr-309	448	17	from	from	ADP
ftr-309	448	18	the	the	DET
ftr-309	448	19	land	land	NOUN
ftr-309	448	20	equally	equally	ADV
ftr-309	448	21	(	(	PUNCT
ftr-309	448	22	or	or	CCONJ
ftr-309	448	23	$	$	SYM
ftr-309	448	24	50	50	NUM
ftr-309	448	25	to	to	ADP
ftr-309	448	26	each	each	DET
ftr-309	448	27	partner	partner	NOUN
ftr-309	448	28	)	)	PUNCT
ftr-309	448	29	.	.	PUNCT
ftr-309	449	1	if	if	SCONJ
ftr-309	449	2	,	,	PUNCT
ftr-309	449	3	instead	instead	ADV
ftr-309	449	4	,	,	PUNCT
ftr-309	449	5	the	the	DET
ftr-309	449	6	partnership	partnership	NOUN
ftr-309	449	7	allocated	allocate	VERB
ftr-309	449	8	all	all	DET
ftr-309	449	9	tax	tax	NOUN
ftr-309	449	10	gain	gain	NOUN
ftr-309	449	11	to	to	ADP
ftr-309	449	12	leslie	leslie	PROPN
ftr-309	449	13	,	,	PUNCT
ftr-309	449	14	tom	tom	PROPN
ftr-309	449	15	would	would	AUX
ftr-309	449	16	save	save	VERB
ftr-309	449	17	$	$	SYM
ftr-309	449	18	25	25	NUM
ftr-309	449	19	in	in	ADP
ftr-309	449	20	taxes	taxis	NOUN
ftr-309	449	21	(	(	PUNCT
ftr-309	449	22	$	$	SYM
ftr-309	449	23	50	50	NUM
ftr-309	449	24	times	time	NOUN
ftr-309	449	25	50	50	NUM
ftr-309	449	26	percent	percent	NOUN
ftr-309	449	27	tax	tax	NOUN
ftr-309	449	28	rate	rate	NOUN
ftr-309	449	29	)	)	PUNCT
ftr-309	449	30	,	,	PUNCT
ftr-309	449	31	but	but	CCONJ
ftr-309	449	32	tom	tom	PROPN
ftr-309	449	33	would	would	AUX
ftr-309	449	34	also	also	ADV
ftr-309	449	35	forgo	forgo	VERB
ftr-309	449	36	$	$	SYM
ftr-309	449	37	50	50	NUM
ftr-309	449	38	of	of	ADP
ftr-309	449	39	cash	cash	NOUN
ftr-309	449	40	on	on	ADP
ftr-309	449	41	liquidation	liquidation	NOUN
ftr-309	449	42	.	.	PUNCT
ftr-309	450	1	assuming	assume	VERB
ftr-309	450	2	tom	tom	PROPN
ftr-309	450	3	and	and	CCONJ
ftr-309	450	4	leslie	leslie	PROPN
ftr-309	450	5	are	be	AUX
ftr-309	450	6	unrelated	unrelated	ADJ
ftr-309	450	7	and	and	CCONJ
ftr-309	450	8	,	,	PUNCT
ftr-309	450	9	thus	thus	ADV
ftr-309	450	10	,	,	PUNCT
ftr-309	450	11	have	have	AUX
ftr-309	450	12	opposing	oppose	VERB
ftr-309	450	13	economic	economic	ADJ
ftr-309	450	14	interests	interest	NOUN
ftr-309	450	15	,	,	PUNCT
ftr-309	450	16	tom	tom	PROPN
ftr-309	450	17	would	would	AUX
ftr-309	450	18	not	not	PART
ftr-309	450	19	agree	agree	VERB
ftr-309	450	20	to	to	ADP
ftr-309	450	21	an	an	DET
ftr-309	450	22	arrangement	arrangement	NOUN
ftr-309	450	23	in	in	ADP
ftr-309	450	24	which	which	PRON
ftr-309	450	25	he	he	PRON
ftr-309	450	26	loses	lose	VERB
ftr-309	450	27	$	$	SYM
ftr-309	450	28	50	50	NUM
ftr-309	450	29	of	of	ADP
ftr-309	450	30	cash	cash	NOUN
ftr-309	450	31	merely	merely	ADV
ftr-309	450	32	to	to	PART
ftr-309	450	33	save	save	VERB
ftr-309	450	34	$	$	SYM
ftr-309	450	35	25	25	NUM
ftr-309	450	36	of	of	ADP
ftr-309	450	37	tax	tax	NOUN
ftr-309	450	38	liability	liability	NOUN
ftr-309	450	39	because	because	SCONJ
ftr-309	450	40	this	this	DET
ftr-309	450	41	arrangement	arrangement	NOUN
ftr-309	450	42	makes	make	VERB
ftr-309	450	43	him	he	PRON
ftr-309	450	44	$	$	SYM
ftr-309	450	45	25	25	NUM
ftr-309	450	46	less	less	ADV
ftr-309	450	47	wealthy	wealthy	ADJ
ftr-309	450	48	after	after	ADP
ftr-309	450	49	tax.85	tax.85	PROPN
ftr-309	450	50	thus	thus	ADV
ftr-309	450	51	,	,	PUNCT
ftr-309	450	52	if	if	SCONJ
ftr-309	450	53	tom	tom	PROPN
ftr-309	450	54	and	and	CCONJ
ftr-309	450	55	leslie	leslie	PROPN
ftr-309	450	56	have	have	AUX
ftr-309	450	57	opposing	oppose	VERB
ftr-309	450	58	economic	economic	ADJ
ftr-309	450	59	interests	interest	NOUN
ftr-309	450	60	and	and	CCONJ
ftr-309	450	61	do	do	AUX
ftr-309	450	62	agree	agree	VERB
ftr-309	450	63	to	to	PART
ftr-309	450	64	allocate	allocate	VERB
ftr-309	450	65	$	$	SYM
ftr-309	450	66	50	50	NUM
ftr-309	450	67	more	more	ADJ
ftr-309	450	68	tax	tax	NOUN
ftr-309	450	69	gain	gain	NOUN
ftr-309	450	70	to	to	ADP
ftr-309	450	71	leslie	leslie	PROPN
ftr-309	450	72	and	and	CCONJ
ftr-309	450	73	distribute	distribute	VERB
ftr-309	450	74	$	$	SYM
ftr-309	450	75	50	50	NUM
ftr-309	450	76	more	more	ADJ
ftr-309	450	77	cash	cash	NOUN
ftr-309	450	78	to	to	ADP
ftr-309	450	79	leslie	leslie	PROPN
ftr-309	450	80	,	,	PUNCT
ftr-309	450	81	one	one	PRON
ftr-309	450	82	can	can	AUX
ftr-309	450	83	infer	infer	VERB
ftr-309	450	84	that	that	SCONJ
ftr-309	450	85	they	they	PRON
ftr-309	450	86	did	do	AUX
ftr-309	450	87	not	not	PART
ftr-309	450	88	agree	agree	VERB
ftr-309	450	89	to	to	ADP
ftr-309	450	90	this	this	DET
ftr-309	450	91	arrangement	arrangement	NOUN
ftr-309	450	92	merely	merely	ADV
ftr-309	450	93	to	to	PART
ftr-309	450	94	save	save	VERB
ftr-309	450	95	tom	tom	PROPN
ftr-309	450	96	$	$	SYM
ftr-309	450	97	25	25	NUM
ftr-309	450	98	in	in	ADP
ftr-309	450	99	taxes	taxis	NOUN
ftr-309	450	100	.	.	PUNCT
ftr-309	451	1	therefore	therefore	ADV
ftr-309	451	2	,	,	PUNCT
ftr-309	451	3	one	one	PRON
ftr-309	451	4	would	would	AUX
ftr-309	451	5	assume	assume	VERB
ftr-309	451	6	that	that	SCONJ
ftr-309	451	7	the	the	DET
ftr-309	451	8	partners	partner	NOUN
ftr-309	451	9	had	have	VERB
ftr-309	451	10	a	a	DET
ftr-309	451	11	non	non	ADJ
ftr-309	451	12	-	-	ADJ
ftr-309	451	13	tax	tax	ADJ
ftr-309	451	14	business	business	NOUN
ftr-309	451	15	reason	reason	NOUN
ftr-309	451	16	for	for	ADP
ftr-309	451	17	agreeing	agree	VERB
ftr-309	451	18	to	to	ADP
ftr-309	451	19	the	the	DET
ftr-309	451	20	arrangement.86	arrangement.86	NOUN
ftr-309	451	21	perhaps	perhaps	ADV
ftr-309	451	22	,	,	PUNCT
ftr-309	451	23	for	for	ADP
ftr-309	451	24	example	example	NOUN
ftr-309	451	25	,	,	PUNCT
ftr-309	451	26	leslie	leslie	PROPN
ftr-309	451	27	was	be	AUX
ftr-309	451	28	responsible	responsible	ADJ
ftr-309	451	29	for	for	ADP
ftr-309	451	30	selecting	select	VERB
ftr-309	451	31	83	83	NUM
ftr-309	451	32	.	.	PUNCT
ftr-309	452	1	see	see	VERB
ftr-309	452	2	regs	reg	NOUN
ftr-309	452	3	.	.	PUNCT
ftr-309	453	1	§	§	PROPN
ftr-309	453	2	1.704	1.704	NUM
ftr-309	453	3	-	-	NUM
ftr-309	453	4	1(b)(2)(ii)(d	1(b)(2)(ii)(d	NUM
ftr-309	453	5	)	)	PUNCT
ftr-309	453	6	.	.	PUNCT
ftr-309	454	1	if	if	SCONJ
ftr-309	454	2	the	the	DET
ftr-309	454	3	partnership	partnership	NOUN
ftr-309	454	4	distributes	distribute	VERB
ftr-309	454	5	all	all	DET
ftr-309	454	6	$	$	SYM
ftr-309	454	7	200	200	NUM
ftr-309	454	8	cash	cash	NOUN
ftr-309	454	9	to	to	ADP
ftr-309	454	10	leslie	leslie	PROPN
ftr-309	454	11	on	on	ADP
ftr-309	454	12	liquidation	liquidation	NOUN
ftr-309	454	13	,	,	PUNCT
ftr-309	454	14	neither	neither	CCONJ
ftr-309	454	15	leslie	leslie	PROPN
ftr-309	454	16	nor	nor	CCONJ
ftr-309	454	17	tom	tom	PROPN
ftr-309	454	18	will	will	AUX
ftr-309	454	19	recognize	recognize	VERB
ftr-309	454	20	tax	tax	NOUN
ftr-309	454	21	gain	gain	NOUN
ftr-309	454	22	or	or	CCONJ
ftr-309	454	23	loss	loss	NOUN
ftr-309	454	24	on	on	ADP
ftr-309	454	25	liquidation	liquidation	NOUN
ftr-309	454	26	.	.	PUNCT
ftr-309	455	1	just	just	ADV
ftr-309	455	2	prior	prior	ADV
ftr-309	455	3	to	to	ADP
ftr-309	455	4	liquidation	liquidation	NOUN
ftr-309	455	5	,	,	PUNCT
ftr-309	455	6	tom	tom	PROPN
ftr-309	455	7	's	's	PART
ftr-309	455	8	basis	basis	NOUN
ftr-309	455	9	in	in	ADP
ftr-309	455	10	his	his	PRON
ftr-309	455	11	interest	interest	NOUN
ftr-309	455	12	in	in	ADP
ftr-309	455	13	the	the	DET
ftr-309	455	14	partnership	partnership	NOUN
ftr-309	455	15	would	would	AUX
ftr-309	455	16	be	be	AUX
ftr-309	455	17	$	$	SYM
ftr-309	455	18	100	100	NUM
ftr-309	455	19	(	(	PUNCT
ftr-309	455	20	the	the	DET
ftr-309	455	21	$	$	SYM
ftr-309	455	22	100	100	NUM
ftr-309	455	23	cash	cash	NOUN
ftr-309	455	24	he	he	PRON
ftr-309	455	25	contributed	contribute	VERB
ftr-309	455	26	plus	plus	CCONJ
ftr-309	455	27	the	the	DET
ftr-309	455	28	$	$	SYM
ftr-309	455	29	0	0	NUM
ftr-309	455	30	tax	tax	NOUN
ftr-309	455	31	gain	gain	NOUN
ftr-309	455	32	allocated	allocate	VERB
ftr-309	455	33	to	to	ADP
ftr-309	455	34	him	he	PRON
ftr-309	455	35	by	by	ADP
ftr-309	455	36	the	the	DET
ftr-309	455	37	partnership	partnership	NOUN
ftr-309	455	38	)	)	PUNCT
ftr-309	455	39	.	.	PUNCT
ftr-309	456	1	see	see	VERB
ftr-309	456	2	i.r.c	i.r.c	NOUN
ftr-309	456	3	.	.	PUNCT
ftr-309	457	1	§	§	PROPN
ftr-309	457	2	705(a	705(a	PROPN
ftr-309	457	3	)	)	PUNCT
ftr-309	457	4	.	.	PUNCT
ftr-309	458	1	as	as	ADP
ftr-309	458	2	a	a	DET
ftr-309	458	3	result	result	NOUN
ftr-309	458	4	,	,	PUNCT
ftr-309	458	5	tom	tom	PROPN
ftr-309	458	6	recognizes	recognize	VERB
ftr-309	458	7	no	no	DET
ftr-309	458	8	tax	tax	NOUN
ftr-309	458	9	gain	gain	NOUN
ftr-309	458	10	or	or	CCONJ
ftr-309	458	11	loss	loss	NOUN
ftr-309	458	12	when	when	SCONJ
ftr-309	458	13	he	he	PRON
ftr-309	458	14	receives	receive	VERB
ftr-309	458	15	$	$	SYM
ftr-309	458	16	100	100	NUM
ftr-309	458	17	cash	cash	NOUN
ftr-309	458	18	from	from	ADP
ftr-309	458	19	the	the	DET
ftr-309	458	20	partnership	partnership	NOUN
ftr-309	458	21	on	on	ADP
ftr-309	458	22	liquidation	liquidation	NOUN
ftr-309	458	23	.	.	PUNCT
ftr-309	459	1	see	see	VERB
ftr-309	459	2	i.r.c	i.r.c	NOUN
ftr-309	459	3	.	.	PUNCT
ftr-309	460	1	§	§	PROPN
ftr-309	460	2	73	73	NUM
ftr-309	460	3	1(a	1(a	NUM
ftr-309	460	4	)	)	PUNCT
ftr-309	460	5	.	.	PUNCT
ftr-309	461	1	just	just	ADV
ftr-309	461	2	prior	prior	ADV
ftr-309	461	3	to	to	ADP
ftr-309	461	4	liquidation	liquidation	NOUN
ftr-309	461	5	,	,	PUNCT
ftr-309	461	6	leslie	leslie	PROPN
ftr-309	461	7	's	's	PART
ftr-309	461	8	basis	basis	NOUN
ftr-309	461	9	in	in	ADP
ftr-309	461	10	her	her	PRON
ftr-309	461	11	interest	interest	NOUN
ftr-309	461	12	in	in	ADP
ftr-309	461	13	the	the	DET
ftr-309	461	14	partnership	partnership	NOUN
ftr-309	461	15	would	would	AUX
ftr-309	461	16	be	be	AUX
ftr-309	461	17	$	$	SYM
ftr-309	461	18	200	200	NUM
ftr-309	461	19	(	(	PUNCT
ftr-309	461	20	the	the	DET
ftr-309	461	21	$	$	SYM
ftr-309	461	22	100	100	NUM
ftr-309	461	23	cash	cash	NOUN
ftr-309	461	24	she	she	PRON
ftr-309	461	25	contributed	contribute	VERB
ftr-309	461	26	plus	plus	CCONJ
ftr-309	461	27	the	the	DET
ftr-309	461	28	$	$	SYM
ftr-309	461	29	100	100	NUM
ftr-309	461	30	tax	tax	NOUN
ftr-309	461	31	gain	gain	NOUN
ftr-309	461	32	allocated	allocate	VERB
ftr-309	461	33	to	to	ADP
ftr-309	461	34	her	she	PRON
ftr-309	461	35	by	by	ADP
ftr-309	461	36	the	the	DET
ftr-309	461	37	partnership	partnership	NOUN
ftr-309	461	38	)	)	PUNCT
ftr-309	461	39	.	.	PUNCT
ftr-309	462	1	see	see	VERB
ftr-309	462	2	i.r.c	i.r.c	NOUN
ftr-309	462	3	.	.	PUNCT
ftr-309	463	1	§	§	PROPN
ftr-309	463	2	705(a	705(a	PROPN
ftr-309	463	3	)	)	PUNCT
ftr-309	463	4	.	.	PUNCT
ftr-309	464	1	as	as	ADP
ftr-309	464	2	a	a	DET
ftr-309	464	3	result	result	NOUN
ftr-309	464	4	,	,	PUNCT
ftr-309	464	5	leslie	leslie	PROPN
ftr-309	464	6	recognizes	recognize	VERB
ftr-309	464	7	no	no	DET
ftr-309	464	8	tax	tax	NOUN
ftr-309	464	9	gain	gain	NOUN
ftr-309	464	10	or	or	CCONJ
ftr-309	464	11	loss	loss	NOUN
ftr-309	464	12	when	when	SCONJ
ftr-309	464	13	she	she	PRON
ftr-309	464	14	receives	receive	VERB
ftr-309	464	15	$	$	SYM
ftr-309	464	16	200	200	NUM
ftr-309	464	17	cash	cash	NOUN
ftr-309	464	18	from	from	ADP
ftr-309	464	19	the	the	DET
ftr-309	464	20	partnership	partnership	NOUN
ftr-309	464	21	on	on	ADP
ftr-309	464	22	liquidation	liquidation	NOUN
ftr-309	464	23	.	.	PUNCT
ftr-309	465	1	see	see	VERB
ftr-309	465	2	i.r.c	i.r.c	NOUN
ftr-309	465	3	.	.	PUNCT
ftr-309	466	1	§	§	PROPN
ftr-309	466	2	731(a	731(a	PROPN
ftr-309	466	3	)	)	PUNCT
ftr-309	466	4	.	.	PUNCT
ftr-309	467	1	84	84	NUM
ftr-309	467	2	.	.	PUNCT
ftr-309	468	1	see	see	VERB
ftr-309	468	2	regs	reg	NOUN
ftr-309	468	3	.	.	PUNCT
ftr-309	469	1	§	§	PROPN
ftr-309	469	2	1.704	1.704	NUM
ftr-309	469	3	-	-	NUM
ftr-309	469	4	1(b)(2)(ii)(d	1(b)(2)(ii)(d	NUM
ftr-309	469	5	)	)	PUNCT
ftr-309	469	6	.	.	PUNCT
ftr-309	470	1	85	85	NUM
ftr-309	470	2	.	.	PUNCT
ftr-309	471	1	this	this	PRON
ftr-309	471	2	is	be	AUX
ftr-309	471	3	true	true	ADJ
ftr-309	471	4	unless	unless	SCONJ
ftr-309	471	5	the	the	DET
ftr-309	471	6	year	year	NOUN
ftr-309	471	7	of	of	ADP
ftr-309	471	8	the	the	DET
ftr-309	471	9	partnership	partnership	NOUN
ftr-309	471	10	's	's	PART
ftr-309	471	11	liquidation	liquidation	NOUN
ftr-309	471	12	is	be	AUX
ftr-309	471	13	sufficiently	sufficiently	ADV
ftr-309	471	14	far	far	ADV
ftr-309	471	15	in	in	ADP
ftr-309	471	16	the	the	DET
ftr-309	471	17	future	future	NOUN
ftr-309	471	18	that	that	SCONJ
ftr-309	471	19	saving	save	VERB
ftr-309	471	20	$	$	SYM
ftr-309	471	21	25	25	NUM
ftr-309	471	22	of	of	ADP
ftr-309	471	23	tax	tax	NOUN
ftr-309	471	24	liability	liability	NOUN
ftr-309	471	25	today	today	NOUN
ftr-309	471	26	is	be	AUX
ftr-309	471	27	worth	worth	ADJ
ftr-309	471	28	more	more	ADV
ftr-309	471	29	than	than	ADP
ftr-309	471	30	losing	lose	VERB
ftr-309	471	31	$	$	SYM
ftr-309	471	32	50	50	NUM
ftr-309	471	33	of	of	ADP
ftr-309	471	34	cash	cash	NOUN
ftr-309	471	35	on	on	ADP
ftr-309	471	36	liquidation	liquidation	NOUN
ftr-309	471	37	.	.	PUNCT
ftr-309	472	1	86	86	NUM
ftr-309	472	2	.	.	PUNCT
ftr-309	473	1	see	see	VERB
ftr-309	473	2	supra	supra	PROPN
ftr-309	473	3	note	note	PROPN
ftr-309	473	4	81	81	NUM
ftr-309	473	5	.	.	PUNCT
ftr-309	473	6	172	172	NUM
ftr-309	474	1	[	[	X
ftr-309	474	2	vol	vol	NOUN
ftr-309	474	3	.	.	PUNCT
ftr-309	475	1	14:5	14:5	NUM
ftr-309	475	2	2013	2013	NUM
ftr-309	475	3	]	]	PUNCT
ftr-309	475	4	was	be	AUX
ftr-309	475	5	blackstone	blackstone	NOUN
ftr-309	475	6	's	's	PART
ftr-309	475	7	initial	initial	ADJ
ftr-309	475	8	public	public	ADJ
ftr-309	475	9	offering	offering	NOUN
ftr-309	475	10	too	too	ADV
ftr-309	475	11	good	good	ADJ
ftr-309	475	12	to	to	PART
ftr-309	475	13	be	be	AUX
ftr-309	475	14	true	true	ADJ
ftr-309	475	15	?	?	PUNCT
ftr-309	476	1	the	the	DET
ftr-309	476	2	land	land	NOUN
ftr-309	476	3	that	that	PRON
ftr-309	476	4	the	the	DET
ftr-309	476	5	partnership	partnership	NOUN
ftr-309	476	6	purchased	purchase	VERB
ftr-309	476	7	,	,	PUNCT
ftr-309	476	8	and	and	CCONJ
ftr-309	476	9	,	,	PUNCT
ftr-309	476	10	as	as	ADP
ftr-309	476	11	a	a	DET
ftr-309	476	12	result	result	NOUN
ftr-309	476	13	,	,	PUNCT
ftr-309	476	14	the	the	DET
ftr-309	476	15	partners	partner	NOUN
ftr-309	476	16	agreed	agree	VERB
ftr-309	476	17	that	that	SCONJ
ftr-309	476	18	she	she	PRON
ftr-309	476	19	would	would	AUX
ftr-309	476	20	benefit	benefit	VERB
ftr-309	476	21	from	from	ADP
ftr-309	476	22	any	any	DET
ftr-309	476	23	economic	economic	ADJ
ftr-309	476	24	gain	gain	NOUN
ftr-309	476	25	realized	realize	VERB
ftr-309	476	26	upon	upon	SCONJ
ftr-309	476	27	the	the	DET
ftr-309	476	28	sale	sale	NOUN
ftr-309	476	29	of	of	ADP
ftr-309	476	30	the	the	DET
ftr-309	476	31	land	land	NOUN
ftr-309	476	32	and	and	CCONJ
ftr-309	476	33	bear	bear	VERB
ftr-309	476	34	any	any	DET
ftr-309	476	35	economic	economic	ADJ
ftr-309	476	36	loss	loss	NOUN
ftr-309	476	37	realized	realize	VERB
ftr-309	476	38	upon	upon	SCONJ
ftr-309	476	39	the	the	DET
ftr-309	476	40	sale	sale	NOUN
ftr-309	476	41	of	of	ADP
ftr-309	476	42	the	the	DET
ftr-309	476	43	land	land	NOUN
ftr-309	476	44	.	.	PUNCT
ftr-309	477	1	thus	thus	ADV
ftr-309	477	2	,	,	PUNCT
ftr-309	477	3	tom	tom	PROPN
ftr-309	477	4	willingly	willingly	ADJ
ftr-309	477	5	parts	part	NOUN
ftr-309	477	6	with	with	ADP
ftr-309	477	7	$	$	SYM
ftr-309	477	8	50	50	NUM
ftr-309	477	9	cash	cash	NOUN
ftr-309	477	10	from	from	ADP
ftr-309	477	11	the	the	DET
ftr-309	477	12	sale	sale	NOUN
ftr-309	477	13	of	of	ADP
ftr-309	477	14	the	the	DET
ftr-309	477	15	land	land	NOUN
ftr-309	477	16	in	in	ADP
ftr-309	477	17	order	order	NOUN
ftr-309	477	18	to	to	PART
ftr-309	477	19	abide	abide	VERB
ftr-309	477	20	by	by	ADP
ftr-309	477	21	the	the	DET
ftr-309	477	22	partners	partner	NOUN
ftr-309	477	23	'	'	PART
ftr-309	477	24	business	business	NOUN
ftr-309	477	25	arrangement	arrangement	NOUN
ftr-309	477	26	and	and	CCONJ
ftr-309	477	27	not	not	PART
ftr-309	477	28	for	for	ADP
ftr-309	477	29	the	the	DET
ftr-309	477	30	sole	sole	ADJ
ftr-309	477	31	purpose	purpose	NOUN
ftr-309	477	32	of	of	ADP
ftr-309	477	33	saving	save	VERB
ftr-309	477	34	taxes	taxis	NOUN
ftr-309	477	35	.	.	PUNCT
ftr-309	478	1	the	the	DET
ftr-309	478	2	foregoing	forego	VERB
ftr-309	478	3	analysis	analysis	NOUN
ftr-309	478	4	hinges	hinge	NOUN
ftr-309	478	5	completely	completely	ADV
ftr-309	478	6	on	on	ADP
ftr-309	478	7	the	the	DET
ftr-309	478	8	fact	fact	NOUN
ftr-309	478	9	that	that	SCONJ
ftr-309	478	10	tom	tom	PROPN
ftr-309	478	11	and	and	CCONJ
ftr-309	478	12	leslie	leslie	PROPN
ftr-309	478	13	are	be	AUX
ftr-309	478	14	unrelated	unrelated	ADJ
ftr-309	478	15	and	and	CCONJ
ftr-309	478	16	,	,	PUNCT
ftr-309	478	17	thus	thus	ADV
ftr-309	478	18	,	,	PUNCT
ftr-309	478	19	have	have	AUX
ftr-309	478	20	opposing	oppose	VERB
ftr-309	478	21	economic	economic	ADJ
ftr-309	478	22	interests	interest	NOUN
ftr-309	478	23	.	.	PUNCT
ftr-309	479	1	if	if	SCONJ
ftr-309	479	2	,	,	PUNCT
ftr-309	479	3	instead	instead	ADV
ftr-309	479	4	,	,	PUNCT
ftr-309	479	5	tom	tom	PROPN
ftr-309	479	6	and	and	CCONJ
ftr-309	479	7	leslie	leslie	PROPN
ftr-309	479	8	were	be	AUX
ftr-309	479	9	closely	closely	ADV
ftr-309	479	10	related	relate	VERB
ftr-309	479	11	so	so	SCONJ
ftr-309	479	12	that	that	SCONJ
ftr-309	479	13	they	they	PRON
ftr-309	479	14	were	be	AUX
ftr-309	479	15	indifferent	indifferent	ADJ
ftr-309	479	16	regarding	regard	VERB
ftr-309	479	17	the	the	DET
ftr-309	479	18	manner	manner	NOUN
ftr-309	479	19	in	in	ADP
ftr-309	479	20	which	which	PRON
ftr-309	479	21	they	they	PRON
ftr-309	479	22	shared	share	VERB
ftr-309	479	23	in	in	ADP
ftr-309	479	24	economic	economic	ADJ
ftr-309	479	25	gain	gain	NOUN
ftr-309	479	26	and	and	CCONJ
ftr-309	479	27	loss	loss	NOUN
ftr-309	479	28	,	,	PUNCT
ftr-309	479	29	then	then	ADV
ftr-309	479	30	the	the	DET
ftr-309	479	31	current	current	ADJ
ftr-309	479	32	restrictions	restriction	NOUN
ftr-309	479	33	on	on	ADP
ftr-309	479	34	tax	tax	NOUN
ftr-309	479	35	allocations	allocation	NOUN
ftr-309	479	36	would	would	AUX
ftr-309	479	37	do	do	VERB
ftr-309	479	38	nothing	nothing	PRON
ftr-309	479	39	to	to	PART
ftr-309	479	40	prevent	prevent	VERB
ftr-309	479	41	tom	tom	PROPN
ftr-309	479	42	and	and	CCONJ
ftr-309	479	43	leslie	leslie	PROPN
ftr-309	479	44	from	from	ADP
ftr-309	479	45	designing	design	VERB
ftr-309	479	46	tax	tax	NOUN
ftr-309	479	47	allocations	allocation	NOUN
ftr-309	479	48	with	with	ADP
ftr-309	479	49	the	the	DET
ftr-309	479	50	sole	sole	ADJ
ftr-309	479	51	objective	objective	NOUN
ftr-309	479	52	of	of	ADP
ftr-309	479	53	saving	save	VERB
ftr-309	479	54	tax	tax	NOUN
ftr-309	479	55	.	.	PUNCT
ftr-309	480	1	in	in	ADP
ftr-309	480	2	example	example	NOUN
ftr-309	480	3	2	2	NUM
ftr-309	480	4	,	,	PUNCT
ftr-309	480	5	for	for	ADP
ftr-309	480	6	instance	instance	NOUN
ftr-309	480	7	,	,	PUNCT
ftr-309	480	8	tom	tom	PROPN
ftr-309	480	9	might	might	AUX
ftr-309	480	10	gladly	gladly	ADV
ftr-309	480	11	agree	agree	VERB
ftr-309	480	12	to	to	ADP
ftr-309	480	13	an	an	DET
ftr-309	480	14	arrangement	arrangement	NOUN
ftr-309	480	15	in	in	ADP
ftr-309	480	16	which	which	PRON
ftr-309	480	17	he	he	PRON
ftr-309	480	18	parts	part	VERB
ftr-309	480	19	with	with	ADP
ftr-309	480	20	$	$	SYM
ftr-309	480	21	50	50	NUM
ftr-309	480	22	of	of	ADP
ftr-309	480	23	cash	cash	NOUN
ftr-309	480	24	merely	merely	ADV
ftr-309	480	25	to	to	PART
ftr-309	480	26	save	save	VERB
ftr-309	480	27	$	$	SYM
ftr-309	480	28	25	25	NUM
ftr-309	480	29	of	of	ADP
ftr-309	480	30	tax	tax	NOUN
ftr-309	480	31	if	if	SCONJ
ftr-309	480	32	the	the	DET
ftr-309	480	33	cash	cash	NOUN
ftr-309	480	34	he	he	PRON
ftr-309	480	35	relinquishes	relinquish	VERB
ftr-309	480	36	winds	wind	NOUN
ftr-309	480	37	up	up	ADP
ftr-309	480	38	in	in	ADP
ftr-309	480	39	the	the	DET
ftr-309	480	40	hands	hand	NOUN
ftr-309	480	41	of	of	ADP
ftr-309	480	42	a	a	DET
ftr-309	480	43	close	close	ADJ
ftr-309	480	44	relative	relative	NOUN
ftr-309	480	45	,	,	PUNCT
ftr-309	480	46	leslie	leslie	PROPN
ftr-309	480	47	.	.	PUNCT
ftr-309	481	1	thus	thus	ADV
ftr-309	481	2	,	,	PUNCT
ftr-309	481	3	when	when	SCONJ
ftr-309	481	4	the	the	DET
ftr-309	481	5	partners	partner	NOUN
ftr-309	481	6	are	be	AUX
ftr-309	481	7	related	relate	VERB
ftr-309	481	8	,	,	PUNCT
ftr-309	481	9	the	the	DET
ftr-309	481	10	allocation	allocation	NOUN
ftr-309	481	11	rules	rule	NOUN
ftr-309	481	12	do	do	VERB
ftr-309	481	13	nothing	nothing	PRON
ftr-309	481	14	to	to	PART
ftr-309	481	15	prevent	prevent	VERB
ftr-309	481	16	entirely	entirely	ADV
ftr-309	481	17	taxmotivated	taxmotivate	VERB
ftr-309	481	18	allocations	allocation	NOUN
ftr-309	481	19	.	.	PUNCT
ftr-309	482	1	in	in	ADP
ftr-309	482	2	order	order	NOUN
ftr-309	482	3	to	to	PART
ftr-309	482	4	more	more	ADV
ftr-309	482	5	fully	fully	ADV
ftr-309	482	6	demonstrate	demonstrate	VERB
ftr-309	482	7	how	how	SCONJ
ftr-309	482	8	the	the	DET
ftr-309	482	9	allocation	allocation	NOUN
ftr-309	482	10	rules	rule	NOUN
ftr-309	482	11	depend	depend	VERB
ftr-309	482	12	,	,	PUNCT
ftr-309	482	13	implicitly	implicitly	ADV
ftr-309	482	14	,	,	PUNCT
ftr-309	482	15	upon	upon	SCONJ
ftr-309	482	16	the	the	DET
ftr-309	482	17	assumption	assumption	NOUN
ftr-309	482	18	that	that	SCONJ
ftr-309	482	19	partners	partner	NOUN
ftr-309	482	20	are	be	AUX
ftr-309	482	21	unrelated	unrelated	ADJ
ftr-309	482	22	,	,	PUNCT
ftr-309	482	23	part	part	NOUN
ftr-309	482	24	iii.a	iii.a	PROPN
ftr-309	482	25	will	will	AUX
ftr-309	482	26	describe	describe	VERB
ftr-309	482	27	the	the	DET
ftr-309	482	28	mechanics	mechanic	NOUN
ftr-309	482	29	of	of	ADP
ftr-309	482	30	the	the	DET
ftr-309	482	31	partnership	partnership	NOUN
ftr-309	482	32	tax	tax	NOUN
ftr-309	482	33	allocation	allocation	NOUN
ftr-309	482	34	rules	rule	NOUN
ftr-309	482	35	in	in	ADP
ftr-309	482	36	more	more	ADJ
ftr-309	482	37	detail	detail	NOUN
ftr-309	482	38	.	.	PUNCT
ftr-309	483	1	the	the	DET
ftr-309	483	2	essential	essential	ADJ
ftr-309	483	3	points	point	NOUN
ftr-309	483	4	of	of	ADP
ftr-309	483	5	the	the	DET
ftr-309	483	6	analysis	analysis	NOUN
ftr-309	483	7	are	be	AUX
ftr-309	483	8	as	as	SCONJ
ftr-309	483	9	follows	follow	VERB
ftr-309	483	10	:	:	PUNCT
ftr-309	483	11	first	first	ADV
ftr-309	483	12	,	,	PUNCT
ftr-309	483	13	lawmakers	lawmaker	NOUN
ftr-309	483	14	intended	intend	VERB
ftr-309	483	15	for	for	ADP
ftr-309	483	16	the	the	DET
ftr-309	483	17	partnership	partnership	NOUN
ftr-309	483	18	tax	tax	NOUN
ftr-309	483	19	allocation	allocation	NOUN
ftr-309	483	20	rules	rule	NOUN
ftr-309	483	21	to	to	PART
ftr-309	483	22	deter	deter	VERB
ftr-309	483	23	overly	overly	ADV
ftr-309	483	24	tax	tax	NOUN
ftr-309	483	25	-	-	PUNCT
ftr-309	483	26	motivated	motivated	ADJ
ftr-309	483	27	87	87	NUM
ftr-309	483	28	.	.	PUNCT
ftr-309	484	1	special	special	ADJ
ftr-309	484	2	rules	rule	NOUN
ftr-309	484	3	are	be	AUX
ftr-309	484	4	provided	provide	VERB
ftr-309	484	5	for	for	ADP
ftr-309	484	6	allocations	allocation	NOUN
ftr-309	484	7	among	among	ADP
ftr-309	484	8	individuals	individual	NOUN
ftr-309	484	9	in	in	ADP
ftr-309	484	10	certain	certain	ADJ
ftr-309	484	11	cases	case	NOUN
ftr-309	484	12	.	.	PUNCT
ftr-309	485	1	see	see	VERB
ftr-309	485	2	,	,	PUNCT
ftr-309	485	3	e.g.	e.g.	ADV
ftr-309	485	4	,	,	PUNCT
ftr-309	485	5	i.r.c	i.r.c	NOUN
ftr-309	485	6	.	.	PUNCT
ftr-309	486	1	§	§	PROPN
ftr-309	486	2	704(e	704(e	PROPN
ftr-309	486	3	)	)	PUNCT
ftr-309	486	4	.	.	PUNCT
ftr-309	487	1	the	the	DET
ftr-309	487	2	special	special	ADJ
ftr-309	487	3	rules	rule	NOUN
ftr-309	487	4	can	can	AUX
ftr-309	487	5	apply	apply	VERB
ftr-309	487	6	if	if	SCONJ
ftr-309	487	7	one	one	NUM
ftr-309	487	8	partner	partner	NOUN
ftr-309	487	9	(	(	PUNCT
ftr-309	487	10	the	the	DET
ftr-309	487	11	"	"	PUNCT
ftr-309	487	12	donor	donor	NOUN
ftr-309	487	13	"	"	PUNCT
ftr-309	487	14	)	)	PUNCT
ftr-309	487	15	provides	provide	VERB
ftr-309	487	16	a	a	DET
ftr-309	487	17	gift	gift	NOUN
ftr-309	487	18	of	of	ADP
ftr-309	487	19	a	a	DET
ftr-309	487	20	partnership	partnership	NOUN
ftr-309	487	21	interest	interest	NOUN
ftr-309	487	22	to	to	ADP
ftr-309	487	23	another	another	DET
ftr-309	487	24	partner	partner	NOUN
ftr-309	487	25	(	(	PUNCT
ftr-309	487	26	the	the	DET
ftr-309	487	27	"	"	PUNCT
ftr-309	487	28	donee	donee	NOUN
ftr-309	487	29	"	"	PUNCT
ftr-309	487	30	)	)	PUNCT
ftr-309	487	31	,	,	PUNCT
ftr-309	487	32	directly	directly	ADV
ftr-309	487	33	or	or	CCONJ
ftr-309	487	34	indirectly	indirectly	ADV
ftr-309	487	35	,	,	PUNCT
ftr-309	487	36	such	such	ADJ
ftr-309	487	37	as	as	ADP
ftr-309	487	38	by	by	ADP
ftr-309	487	39	giving	give	VERB
ftr-309	487	40	the	the	DET
ftr-309	487	41	donee	donee	NOUN
ftr-309	487	42	property	property	NOUN
ftr-309	487	43	that	that	PRON
ftr-309	487	44	the	the	DET
ftr-309	487	45	donee	donee	NOUN
ftr-309	487	46	,	,	PUNCT
ftr-309	487	47	subsequently	subsequently	ADV
ftr-309	487	48	,	,	PUNCT
ftr-309	487	49	contributes	contribute	VERB
ftr-309	487	50	to	to	ADP
ftr-309	487	51	the	the	DET
ftr-309	487	52	partnership	partnership	NOUN
ftr-309	487	53	.	.	PUNCT
ftr-309	488	1	in	in	ADP
ftr-309	488	2	addition	addition	NOUN
ftr-309	488	3	,	,	PUNCT
ftr-309	488	4	the	the	DET
ftr-309	488	5	special	special	ADJ
ftr-309	488	6	rules	rule	NOUN
ftr-309	488	7	apply	apply	VERB
ftr-309	488	8	if	if	SCONJ
ftr-309	488	9	one	one	NUM
ftr-309	488	10	family	family	NOUN
ftr-309	488	11	member	member	NOUN
ftr-309	488	12	sells	sell	VERB
ftr-309	488	13	a	a	DET
ftr-309	488	14	partnership	partnership	NOUN
ftr-309	488	15	interest	interest	NOUN
ftr-309	488	16	to	to	ADP
ftr-309	488	17	another	another	DET
ftr-309	488	18	family	family	NOUN
ftr-309	488	19	member	member	NOUN
ftr-309	488	20	.	.	PUNCT
ftr-309	489	1	when	when	SCONJ
ftr-309	489	2	the	the	DET
ftr-309	489	3	special	special	ADJ
ftr-309	489	4	rules	rule	NOUN
ftr-309	489	5	apply	apply	VERB
ftr-309	489	6	,	,	PUNCT
ftr-309	489	7	the	the	DET
ftr-309	489	8	irs	irs	PROPN
ftr-309	489	9	can	can	AUX
ftr-309	489	10	reallocate	reallocate	VERB
ftr-309	489	11	income	income	NOUN
ftr-309	489	12	among	among	ADP
ftr-309	489	13	the	the	DET
ftr-309	489	14	affected	affected	ADJ
ftr-309	489	15	partners	partner	NOUN
ftr-309	489	16	if	if	SCONJ
ftr-309	489	17	the	the	DET
ftr-309	489	18	allocations	allocation	NOUN
ftr-309	489	19	in	in	ADP
ftr-309	489	20	the	the	DET
ftr-309	489	21	partnership	partnership	NOUN
ftr-309	489	22	agreement	agreement	NOUN
ftr-309	489	23	do	do	AUX
ftr-309	489	24	not	not	PART
ftr-309	489	25	adequately	adequately	ADV
ftr-309	489	26	compensate	compensate	VERB
ftr-309	489	27	these	these	DET
ftr-309	489	28	partners	partner	NOUN
ftr-309	489	29	for	for	ADP
ftr-309	489	30	the	the	DET
ftr-309	489	31	services	service	NOUN
ftr-309	489	32	and	and	CCONJ
ftr-309	489	33	capital	capital	NOUN
ftr-309	489	34	they	they	PRON
ftr-309	489	35	contribute	contribute	VERB
ftr-309	489	36	.	.	PUNCT
ftr-309	490	1	for	for	ADP
ftr-309	490	2	further	further	ADJ
ftr-309	490	3	discussion	discussion	NOUN
ftr-309	490	4	,	,	PUNCT
ftr-309	490	5	see	see	VERB
ftr-309	490	6	mckee	mckee	PROPN
ftr-309	490	7	,	,	PUNCT
ftr-309	490	8	nelson	nelson	PROPN
ftr-309	490	9	&	&	CCONJ
ftr-309	490	10	whitmire	whitmire	PROPN
ftr-309	490	11	,	,	PUNCT
ftr-309	490	12	partnerships	partnership	NOUN
ftr-309	490	13	and	and	CCONJ
ftr-309	490	14	partners	partner	NOUN
ftr-309	490	15	,	,	PUNCT
ftr-309	490	16	supra	supra	PROPN
ftr-309	490	17	note	note	NOUN
ftr-309	490	18	82	82	NUM
ftr-309	490	19	,	,	PUNCT
ftr-309	490	20	14.05	14.05	NUM
ftr-309	490	21	.	.	PUNCT
ftr-309	491	1	the	the	DET
ftr-309	491	2	special	special	ADJ
ftr-309	491	3	rules	rule	NOUN
ftr-309	491	4	,	,	PUNCT
ftr-309	491	5	however	however	ADV
ftr-309	491	6	,	,	PUNCT
ftr-309	491	7	do	do	AUX
ftr-309	491	8	not	not	PART
ftr-309	491	9	require	require	VERB
ftr-309	491	10	reallocation	reallocation	NOUN
ftr-309	491	11	of	of	ADP
ftr-309	491	12	income	income	NOUN
ftr-309	491	13	among	among	ADP
ftr-309	491	14	family	family	NOUN
ftr-309	491	15	members	member	NOUN
ftr-309	491	16	who	who	PRON
ftr-309	491	17	were	be	AUX
ftr-309	491	18	not	not	PART
ftr-309	491	19	parties	party	NOUN
ftr-309	491	20	to	to	ADP
ftr-309	491	21	a	a	DET
ftr-309	491	22	gift	gift	NOUN
ftr-309	491	23	or	or	CCONJ
ftr-309	491	24	sale	sale	NOUN
ftr-309	491	25	of	of	ADP
ftr-309	491	26	a	a	DET
ftr-309	491	27	partnership	partnership	NOUN
ftr-309	491	28	interest	interest	NOUN
ftr-309	491	29	.	.	PUNCT
ftr-309	492	1	i	i	PRON
ftr-309	492	2	d.	d.	PROPN
ftr-309	492	3	t	t	PROPN
ftr-309	492	4	14.059[c][2	14.059[c][2	NUM
ftr-309	492	5	]	]	PUNCT
ftr-309	492	6	.	.	PUNCT
ftr-309	493	1	for	for	ADP
ftr-309	493	2	more	more	ADJ
ftr-309	493	3	information	information	NOUN
ftr-309	493	4	on	on	ADP
ftr-309	493	5	allocations	allocation	NOUN
ftr-309	493	6	among	among	ADP
ftr-309	493	7	family	family	NOUN
ftr-309	493	8	members	member	NOUN
ftr-309	493	9	in	in	ADP
ftr-309	493	10	situations	situation	NOUN
ftr-309	493	11	not	not	PART
ftr-309	493	12	covered	cover	VERB
ftr-309	493	13	by	by	ADP
ftr-309	493	14	section	section	NOUN
ftr-309	493	15	704(e	704(e	PROPN
ftr-309	493	16	)	)	PUNCT
ftr-309	493	17	,	,	PUNCT
ftr-309	493	18	see	see	VERB
ftr-309	493	19	i	i	PRON
ftr-309	493	20	d.	d.	PROPN
ftr-309	493	21	(	(	PUNCT
ftr-309	493	22	"	"	PUNCT
ftr-309	493	23	[	[	X
ftr-309	493	24	i]t	i]t	NOUN
ftr-309	493	25	is	be	AUX
ftr-309	493	26	unclear	unclear	ADJ
ftr-309	493	27	whether	whether	SCONJ
ftr-309	493	28	the	the	DET
ftr-309	493	29	commissioner	commissioner	NOUN
ftr-309	493	30	can	can	AUX
ftr-309	493	31	reallocate	reallocate	VERB
ftr-309	493	32	partnership	partnership	NOUN
ftr-309	493	33	income	income	NOUN
ftr-309	493	34	among	among	ADP
ftr-309	493	35	related	related	ADJ
ftr-309	493	36	persons	person	NOUN
ftr-309	493	37	who	who	PRON
ftr-309	493	38	are	be	AUX
ftr-309	493	39	admittedly	admittedly	ADV
ftr-309	493	40	partners	partner	NOUN
ftr-309	493	41	.	.	PUNCT
ftr-309	493	42	.	.	PUNCT
ftr-309	493	43	.	.	PUNCT
ftr-309	494	1	but	but	CCONJ
ftr-309	494	2	who	who	PRON
ftr-309	494	3	are	be	AUX
ftr-309	494	4	not	not	PART
ftr-309	494	5	subject	subject	ADJ
ftr-309	494	6	to	to	ADP
ftr-309	494	7	§	§	PROPN
ftr-309	494	8	704(e)(2	704(e)(2	NUM
ftr-309	494	9	)	)	PUNCT
ftr-309	494	10	.	.	PUNCT
ftr-309	495	1	prior	prior	ADV
ftr-309	495	2	to	to	ADP
ftr-309	495	3	the	the	DET
ftr-309	495	4	enactment	enactment	NOUN
ftr-309	495	5	of	of	ADP
ftr-309	495	6	§	§	PROPN
ftr-309	495	7	704(e	704(e	PROPN
ftr-309	495	8	)	)	PUNCT
ftr-309	495	9	,	,	PUNCT
ftr-309	495	10	the	the	DET
ftr-309	495	11	service	service	NOUN
ftr-309	495	12	argued	argue	VERB
ftr-309	495	13	on	on	ADP
ftr-309	495	14	a	a	DET
ftr-309	495	15	number	number	NOUN
ftr-309	495	16	of	of	ADP
ftr-309	495	17	occasions	occasion	NOUN
ftr-309	495	18	that	that	PRON
ftr-309	495	19	partnership	partnership	NOUN
ftr-309	495	20	income	income	NOUN
ftr-309	495	21	could	could	AUX
ftr-309	495	22	be	be	AUX
ftr-309	495	23	so	so	ADV
ftr-309	495	24	reallocated	reallocate	VERB
ftr-309	495	25	.	.	PUNCT
ftr-309	496	1	the	the	DET
ftr-309	496	2	courts	court	NOUN
ftr-309	496	3	generally	generally	ADV
ftr-309	496	4	were	be	AUX
ftr-309	496	5	reluctant	reluctant	ADJ
ftr-309	496	6	to	to	PART
ftr-309	496	7	remake	remake	VERB
ftr-309	496	8	the	the	DET
ftr-309	496	9	partners	partner	NOUN
ftr-309	496	10	'	'	PART
ftr-309	496	11	contract	contract	NOUN
ftr-309	496	12	except	except	SCONJ
ftr-309	496	13	in	in	ADP
ftr-309	496	14	situations	situation	NOUN
ftr-309	496	15	of	of	ADP
ftr-309	496	16	clear	clear	ADJ
ftr-309	496	17	abuse	abuse	NOUN
ftr-309	496	18	.	.	PUNCT
ftr-309	497	1	in	in	ADP
ftr-309	497	2	general	general	ADJ
ftr-309	497	3	,	,	PUNCT
ftr-309	497	4	it	it	PRON
ftr-309	497	5	seems	seem	VERB
ftr-309	497	6	that	that	SCONJ
ftr-309	497	7	family	family	NOUN
ftr-309	497	8	partners	partner	NOUN
ftr-309	497	9	who	who	PRON
ftr-309	497	10	are	be	AUX
ftr-309	497	11	not	not	PART
ftr-309	497	12	subject	subject	ADJ
ftr-309	497	13	to	to	ADP
ftr-309	497	14	§	§	PROPN
ftr-309	497	15	704(e)(2	704(e)(2	NUM
ftr-309	497	16	)	)	PUNCT
ftr-309	497	17	should	should	AUX
ftr-309	497	18	have	have	VERB
ftr-309	497	19	the	the	DET
ftr-309	497	20	same	same	ADJ
ftr-309	497	21	freedom	freedom	NOUN
ftr-309	497	22	to	to	PART
ftr-309	497	23	allocate	allocate	VERB
ftr-309	497	24	partnership	partnership	NOUN
ftr-309	497	25	income	income	NOUN
ftr-309	497	26	among	among	ADP
ftr-309	497	27	themselves	themselves	PRON
ftr-309	497	28	as	as	ADP
ftr-309	497	29	unrelated	unrelated	ADJ
ftr-309	497	30	partners	partner	NOUN
ftr-309	497	31	.	.	PUNCT
ftr-309	498	1	on	on	ADP
ftr-309	498	2	the	the	DET
ftr-309	498	3	other	other	ADJ
ftr-309	498	4	hand	hand	NOUN
ftr-309	498	5	,	,	PUNCT
ftr-309	498	6	because	because	SCONJ
ftr-309	498	7	of	of	ADP
ftr-309	498	8	the	the	DET
ftr-309	498	9	lack	lack	NOUN
ftr-309	498	10	of	of	ADP
ftr-309	498	11	adversity	adversity	NOUN
ftr-309	498	12	that	that	PRON
ftr-309	498	13	may	may	AUX
ftr-309	498	14	exist	exist	VERB
ftr-309	498	15	among	among	ADP
ftr-309	498	16	family	family	NOUN
ftr-309	498	17	partners	partner	NOUN
ftr-309	498	18	,	,	PUNCT
ftr-309	498	19	allocations	allocation	NOUN
ftr-309	498	20	that	that	PRON
ftr-309	498	21	are	be	AUX
ftr-309	498	22	palpably	palpably	ADV
ftr-309	498	23	unreasonable	unreasonable	ADJ
ftr-309	498	24	may	may	AUX
ftr-309	498	25	be	be	AUX
ftr-309	498	26	subject	subject	ADJ
ftr-309	498	27	to	to	ADP
ftr-309	498	28	attack	attack	NOUN
ftr-309	498	29	.	.	PUNCT
ftr-309	499	1	"	"	PUNCT
ftr-309	499	2	)	)	PUNCT
ftr-309	499	3	.	.	PUNCT
ftr-309	500	1	173	173	NUM
ftr-309	500	2	florida	florida	PROPN
ftr-309	500	3	tax	tax	NOUN
ftr-309	500	4	review	review	NOUN
ftr-309	500	5	allocations;88	allocations;88	ADV
ftr-309	500	6	second	second	ADJ
ftr-309	500	7	,	,	PUNCT
ftr-309	500	8	although	although	SCONJ
ftr-309	500	9	the	the	DET
ftr-309	500	10	allocation	allocation	NOUN
ftr-309	500	11	rules	rule	NOUN
ftr-309	500	12	might	might	AUX
ftr-309	500	13	achieve	achieve	VERB
ftr-309	500	14	this	this	DET
ftr-309	500	15	objective	objective	NOUN
ftr-309	500	16	when	when	SCONJ
ftr-309	500	17	partners	partner	NOUN
ftr-309	500	18	are	be	AUX
ftr-309	500	19	unrelated	unrelated	ADJ
ftr-309	500	20	,	,	PUNCT
ftr-309	500	21	because	because	SCONJ
ftr-309	500	22	of	of	ADP
ftr-309	500	23	how	how	SCONJ
ftr-309	500	24	the	the	DET
ftr-309	500	25	rules	rule	NOUN
ftr-309	500	26	are	be	AUX
ftr-309	500	27	designed	design	VERB
ftr-309	500	28	they	they	PRON
ftr-309	500	29	do	do	VERB
ftr-309	500	30	nothing	nothing	PRON
ftr-309	500	31	to	to	PART
ftr-309	500	32	discourage	discourage	VERB
ftr-309	500	33	related	related	ADJ
ftr-309	500	34	partners	partner	NOUN
ftr-309	500	35	from	from	ADP
ftr-309	500	36	engaging	engage	VERB
ftr-309	500	37	in	in	ADP
ftr-309	500	38	entirely	entirely	ADV
ftr-309	500	39	taxmotivated	taxmotivate	VERB
ftr-309	500	40	allocations	allocation	NOUN
ftr-309	500	41	;	;	PUNCT
ftr-309	500	42	and	and	CCONJ
ftr-309	500	43	,	,	PUNCT
ftr-309	500	44	third	third	ADJ
ftr-309	500	45	,	,	PUNCT
ftr-309	500	46	from	from	ADP
ftr-309	500	47	these	these	DET
ftr-309	500	48	first	first	ADJ
ftr-309	500	49	two	two	NUM
ftr-309	500	50	observations	observation	NOUN
ftr-309	500	51	,	,	PUNCT
ftr-309	500	52	one	one	PRON
ftr-309	500	53	can	can	AUX
ftr-309	500	54	infer	infer	VERB
ftr-309	500	55	that	that	SCONJ
ftr-309	500	56	the	the	DET
ftr-309	500	57	partnership	partnership	NOUN
ftr-309	500	58	tax	tax	NOUN
ftr-309	500	59	allocation	allocation	NOUN
ftr-309	500	60	rules	rule	NOUN
ftr-309	500	61	are	be	AUX
ftr-309	500	62	,	,	PUNCT
ftr-309	500	63	implicitly	implicitly	ADV
ftr-309	500	64	,	,	PUNCT
ftr-309	500	65	premised	premise	VERB
ftr-309	500	66	on	on	ADP
ftr-309	500	67	the	the	DET
ftr-309	500	68	assumption	assumption	NOUN
ftr-309	500	69	that	that	SCONJ
ftr-309	500	70	partners	partner	NOUN
ftr-309	500	71	are	be	AUX
ftr-309	500	72	unrelated	unrelated	ADJ
ftr-309	500	73	.	.	PUNCT
ftr-309	501	1	as	as	ADP
ftr-309	501	2	a	a	DET
ftr-309	501	3	result	result	NOUN
ftr-309	501	4	,	,	PUNCT
ftr-309	501	5	blackstone	blackstone	NOUN
ftr-309	501	6	group	group	NOUN
ftr-309	501	7	lp	lp	PROPN
ftr-309	501	8	and	and	CCONJ
ftr-309	501	9	other	other	ADJ
ftr-309	501	10	partnerships	partnership	NOUN
ftr-309	501	11	formed	form	VERB
ftr-309	501	12	by	by	ADP
ftr-309	501	13	related	related	ADJ
ftr-309	501	14	partners	partner	NOUN
ftr-309	501	15	can	can	AUX
ftr-309	501	16	utilize	utilize	VERB
ftr-309	501	17	entirely	entirely	ADV
ftr-309	501	18	taxmotivated	taxmotivate	VERB
ftr-309	501	19	allocations	allocation	NOUN
ftr-309	501	20	and	and	CCONJ
ftr-309	501	21	technically	technically	ADV
ftr-309	501	22	comply	comply	VERB
ftr-309	501	23	with	with	ADP
ftr-309	501	24	the	the	DET
ftr-309	501	25	letter	letter	NOUN
ftr-309	501	26	,	,	PUNCT
ftr-309	501	27	but	but	CCONJ
ftr-309	501	28	not	not	PART
ftr-309	501	29	the	the	DET
ftr-309	501	30	spirit	spirit	NOUN
ftr-309	501	31	,	,	PUNCT
ftr-309	501	32	of	of	ADP
ftr-309	501	33	the	the	DET
ftr-309	501	34	existing	exist	VERB
ftr-309	501	35	regulations	regulation	NOUN
ftr-309	501	36	.	.	PUNCT
ftr-309	502	1	they	they	PRON
ftr-309	502	2	do	do	VERB
ftr-309	502	3	so	so	ADV
ftr-309	502	4	by	by	ADP
ftr-309	502	5	exploiting	exploit	VERB
ftr-309	502	6	an	an	DET
ftr-309	502	7	unintended	unintended	ADJ
ftr-309	502	8	loophole	loophole	NOUN
ftr-309	502	9	in	in	ADP
ftr-309	502	10	the	the	DET
ftr-309	502	11	partnership	partnership	NOUN
ftr-309	502	12	tax	tax	NOUN
ftr-309	502	13	allocation	allocation	NOUN
ftr-309	502	14	rules	rule	NOUN
ftr-309	502	15	specifically	specifically	ADV
ftr-309	502	16	,	,	PUNCT
ftr-309	502	17	the	the	DET
ftr-309	502	18	rules	rule	NOUN
ftr-309	502	19	'	'	PART
ftr-309	502	20	failure	failure	NOUN
ftr-309	502	21	to	to	ADP
ftr-309	502	22	police	police	NOUN
ftr-309	502	23	allocations	allocation	NOUN
ftr-309	502	24	among	among	ADP
ftr-309	502	25	related	related	ADJ
ftr-309	502	26	partners	partner	NOUN
ftr-309	502	27	.	.	PUNCT
ftr-309	503	1	a.	a.	NOUN
ftr-309	504	1	the	the	DET
ftr-309	504	2	partnership	partnership	NOUN
ftr-309	504	3	tax	tax	NOUN
ftr-309	504	4	allocation	allocation	NOUN
ftr-309	504	5	rules	rule	VERB
ftr-309	504	6	the	the	DET
ftr-309	504	7	treasury	treasury	PROPN
ftr-309	504	8	regulations	regulation	NOUN
ftr-309	504	9	provide	provide	VERB
ftr-309	504	10	that	that	SCONJ
ftr-309	504	11	allocations	allocation	NOUN
ftr-309	504	12	in	in	ADP
ftr-309	504	13	a	a	DET
ftr-309	504	14	partnership	partnership	NOUN
ftr-309	504	15	agreement	agreement	NOUN
ftr-309	504	16	will	will	AUX
ftr-309	504	17	be	be	AUX
ftr-309	504	18	respected	respect	VERB
ftr-309	504	19	(	(	PUNCT
ftr-309	504	20	i.e.	i.e.	X
ftr-309	504	21	,	,	PUNCT
ftr-309	504	22	they	they	PRON
ftr-309	504	23	will	will	AUX
ftr-309	504	24	not	not	PART
ftr-309	504	25	be	be	AUX
ftr-309	504	26	successfully	successfully	ADV
ftr-309	504	27	challenged	challenge	VERB
ftr-309	504	28	by	by	ADP
ftr-309	504	29	the	the	DET
ftr-309	504	30	irs	irs	PROPN
ftr-309	504	31	)	)	PUNCT
ftr-309	504	32	if	if	SCONJ
ftr-309	504	33	the	the	DET
ftr-309	504	34	allocations	allocation	NOUN
ftr-309	504	35	are	be	AUX
ftr-309	504	36	consistent	consistent	ADJ
ftr-309	504	37	with	with	ADP
ftr-309	504	38	"	"	PUNCT
ftr-309	504	39	the	the	DET
ftr-309	504	40	partners	partner	NOUN
ftr-309	504	41	'	'	PART
ftr-309	504	42	interests	interest	NOUN
ftr-309	504	43	in	in	ADP
ftr-309	504	44	the	the	DET
ftr-309	504	45	partnership	partnership	NOUN
ftr-309	504	46	"	"	PUNCT
ftr-309	504	47	or	or	CCONJ
ftr-309	504	48	the	the	DET
ftr-309	504	49	allocations	allocation	NOUN
ftr-309	504	50	have	have	VERB
ftr-309	504	51	"	"	PUNCT
ftr-309	504	52	substantial	substantial	ADJ
ftr-309	504	53	economic	economic	ADJ
ftr-309	504	54	effect	effect	NOUN
ftr-309	504	55	.	.	PUNCT
ftr-309	505	1	"89	"89	PUNCT
ftr-309	506	1	the	the	DET
ftr-309	506	2	following	follow	VERB
ftr-309	506	3	discussion	discussion	NOUN
ftr-309	506	4	focuses	focus	VERB
ftr-309	506	5	on	on	ADP
ftr-309	506	6	the	the	DET
ftr-309	506	7	substantial	substantial	ADJ
ftr-309	506	8	economic	economic	ADJ
ftr-309	506	9	effect	effect	NOUN
ftr-309	506	10	test.90	test.90	PRON
ftr-309	506	11	for	for	ADP
ftr-309	506	12	partnership	partnership	NOUN
ftr-309	506	13	agreement	agreement	NOUN
ftr-309	506	14	allocations	allocation	NOUN
ftr-309	506	15	to	to	PART
ftr-309	506	16	be	be	AUX
ftr-309	506	17	respected	respect	VERB
ftr-309	506	18	under	under	ADP
ftr-309	506	19	the	the	DET
ftr-309	506	20	substantial	substantial	ADJ
ftr-309	506	21	economic	economic	ADJ
ftr-309	506	22	effect	effect	NOUN
ftr-309	506	23	test	test	NOUN
ftr-309	506	24	,	,	PUNCT
ftr-309	506	25	the	the	DET
ftr-309	506	26	allocations	allocation	NOUN
ftr-309	506	27	must	must	AUX
ftr-309	506	28	overcome	overcome	VERB
ftr-309	506	29	two	two	NUM
ftr-309	506	30	hurdles	hurdle	NOUN
ftr-309	506	31	.	.	PUNCT
ftr-309	507	1	91	91	NUM
ftr-309	508	1	"	"	PUNCT
ftr-309	508	2	first	first	ADV
ftr-309	508	3	,	,	PUNCT
ftr-309	508	4	the	the	DET
ftr-309	508	5	allocation[s	allocation[	NOUN
ftr-309	508	6	]	]	PUNCT
ftr-309	508	7	must	must	AUX
ftr-309	508	8	have	have	VERB
ftr-309	508	9	economic	economic	ADJ
ftr-309	508	10	effect	effect	NOUN
ftr-309	508	11	.	.	PUNCT
ftr-309	508	12	"	"	PUNCT
ftr-309	509	1	92	92	NUM
ftr-309	509	2	"	"	PUNCT
ftr-309	509	3	second	second	ADJ
ftr-309	509	4	,	,	PUNCT
ftr-309	509	5	the	the	DET
ftr-309	509	6	88	88	NUM
ftr-309	509	7	.	.	PUNCT
ftr-309	510	1	see	see	VERB
ftr-309	510	2	supra	supra	PROPN
ftr-309	510	3	note	note	PROPN
ftr-309	510	4	81	81	NUM
ftr-309	510	5	and	and	CCONJ
ftr-309	510	6	accompanying	accompany	VERB
ftr-309	510	7	text	text	NOUN
ftr-309	510	8	.	.	PUNCT
ftr-309	511	1	89	89	NUM
ftr-309	511	2	.	.	PUNCT
ftr-309	512	1	see	see	VERB
ftr-309	512	2	regs	reg	NOUN
ftr-309	512	3	.	.	PUNCT
ftr-309	513	1	§	§	PROPN
ftr-309	513	2	1.704	1.704	NUM
ftr-309	513	3	-	-	NUM
ftr-309	513	4	1(b)(1)(i	1(b)(1)(i	NUM
ftr-309	513	5	)	)	PUNCT
ftr-309	513	6	.	.	PUNCT
ftr-309	514	1	an	an	DET
ftr-309	514	2	allocation	allocation	NOUN
ftr-309	514	3	will	will	AUX
ftr-309	514	4	also	also	ADV
ftr-309	514	5	be	be	AUX
ftr-309	514	6	respected	respect	VERB
ftr-309	514	7	if	if	SCONJ
ftr-309	514	8	the	the	DET
ftr-309	514	9	allocation	allocation	NOUN
ftr-309	514	10	is	be	AUX
ftr-309	514	11	deemed	deem	VERB
ftr-309	514	12	to	to	PART
ftr-309	514	13	be	be	AUX
ftr-309	514	14	in	in	ADP
ftr-309	514	15	accordance	accordance	NOUN
ftr-309	514	16	with	with	ADP
ftr-309	514	17	the	the	DET
ftr-309	514	18	partners	partner	NOUN
ftr-309	514	19	'	'	PART
ftr-309	514	20	interests	interest	NOUN
ftr-309	514	21	in	in	ADP
ftr-309	514	22	the	the	DET
ftr-309	514	23	partnership	partnership	NOUN
ftr-309	514	24	.	.	PUNCT
ftr-309	515	1	i	i	PRON
ftr-309	515	2	d.	d.	VERB
ftr-309	515	3	this	this	DET
ftr-309	515	4	rule	rule	NOUN
ftr-309	515	5	only	only	ADV
ftr-309	515	6	applies	apply	VERB
ftr-309	515	7	to	to	ADP
ftr-309	515	8	certain	certain	ADJ
ftr-309	515	9	types	type	NOUN
ftr-309	515	10	of	of	ADP
ftr-309	515	11	allocations	allocation	NOUN
ftr-309	515	12	not	not	PART
ftr-309	515	13	relevant	relevant	ADJ
ftr-309	515	14	to	to	ADP
ftr-309	515	15	the	the	DET
ftr-309	515	16	analysis	analysis	NOUN
ftr-309	515	17	of	of	ADP
ftr-309	515	18	the	the	DET
ftr-309	515	19	blackstone	blackstone	NOUN
ftr-309	515	20	group	group	NOUN
ftr-309	515	21	structure	structure	NOUN
ftr-309	515	22	.	.	PUNCT
ftr-309	516	1	90	90	NUM
ftr-309	516	2	.	.	PUNCT
ftr-309	517	1	an	an	DET
ftr-309	517	2	understanding	understanding	NOUN
ftr-309	517	3	of	of	ADP
ftr-309	517	4	the	the	DET
ftr-309	517	5	partners	partner	NOUN
ftr-309	517	6	'	'	PART
ftr-309	517	7	interests	interest	NOUN
ftr-309	517	8	in	in	ADP
ftr-309	517	9	the	the	DET
ftr-309	517	10	partnership	partnership	NOUN
ftr-309	517	11	(	(	PUNCT
ftr-309	517	12	"	"	PUNCT
ftr-309	517	13	pip	pip	X
ftr-309	517	14	"	"	PUNCT
ftr-309	517	15	)	)	PUNCT
ftr-309	517	16	is	be	AUX
ftr-309	517	17	not	not	PART
ftr-309	517	18	essential	essential	ADJ
ftr-309	517	19	for	for	ADP
ftr-309	517	20	purposes	purpose	NOUN
ftr-309	517	21	of	of	ADP
ftr-309	517	22	understanding	understand	VERB
ftr-309	517	23	the	the	DET
ftr-309	517	24	blackstone	blackstone	NOUN
ftr-309	517	25	group	group	NOUN
ftr-309	517	26	lp	lp	PROPN
ftr-309	517	27	structure	structure	NOUN
ftr-309	517	28	.	.	PUNCT
ftr-309	518	1	pip	pip	PROPN
ftr-309	518	2	is	be	AUX
ftr-309	518	3	a	a	DET
ftr-309	518	4	vague	vague	ADJ
ftr-309	518	5	concept	concept	NOUN
ftr-309	518	6	that	that	PRON
ftr-309	518	7	is	be	AUX
ftr-309	518	8	intended	intend	VERB
ftr-309	518	9	to	to	PART
ftr-309	518	10	measure	measure	VERB
ftr-309	518	11	the	the	DET
ftr-309	518	12	manner	manner	NOUN
ftr-309	518	13	in	in	ADP
ftr-309	518	14	which	which	PRON
ftr-309	518	15	the	the	DET
ftr-309	518	16	partners	partner	NOUN
ftr-309	518	17	have	have	AUX
ftr-309	518	18	agreed	agree	VERB
ftr-309	518	19	to	to	PART
ftr-309	518	20	share	share	VERB
ftr-309	518	21	the	the	DET
ftr-309	518	22	economic	economic	ADJ
ftr-309	518	23	benefit	benefit	NOUN
ftr-309	518	24	or	or	CCONJ
ftr-309	518	25	burden	burden	NOUN
ftr-309	518	26	to	to	PART
ftr-309	518	27	which	which	PRON
ftr-309	518	28	a	a	DET
ftr-309	518	29	given	give	VERB
ftr-309	518	30	tax	tax	NOUN
ftr-309	518	31	allocation	allocation	NOUN
ftr-309	518	32	corresponds	correspond	NOUN
ftr-309	518	33	.	.	PUNCT
ftr-309	519	1	regs	regs	PROPN
ftr-309	519	2	.	.	PUNCT
ftr-309	520	1	§	§	PROPN
ftr-309	520	2	1.704	1.704	NUM
ftr-309	520	3	-	-	NUM
ftr-309	520	4	1(b)(3)(i	1(b)(3)(i	NUM
ftr-309	520	5	)	)	PUNCT
ftr-309	520	6	.	.	PUNCT
ftr-309	521	1	to	to	PART
ftr-309	521	2	determine	determine	VERB
ftr-309	521	3	the	the	DET
ftr-309	521	4	partners	partner	NOUN
ftr-309	521	5	'	'	PART
ftr-309	521	6	interests	interest	NOUN
ftr-309	521	7	in	in	ADP
ftr-309	521	8	the	the	DET
ftr-309	521	9	partnership	partnership	NOUN
ftr-309	521	10	,	,	PUNCT
ftr-309	521	11	one	one	PRON
ftr-309	521	12	must	must	AUX
ftr-309	521	13	examine	examine	VERB
ftr-309	521	14	all	all	DET
ftr-309	521	15	the	the	DET
ftr-309	521	16	facts	fact	NOUN
ftr-309	521	17	and	and	CCONJ
ftr-309	521	18	circumstances	circumstance	NOUN
ftr-309	521	19	that	that	PRON
ftr-309	521	20	relate	relate	VERB
ftr-309	521	21	to	to	ADP
ftr-309	521	22	the	the	DET
ftr-309	521	23	economic	economic	ADJ
ftr-309	521	24	arrangement	arrangement	NOUN
ftr-309	521	25	of	of	ADP
ftr-309	521	26	the	the	DET
ftr-309	521	27	partners	partner	NOUN
ftr-309	521	28	,	,	PUNCT
ftr-309	521	29	including	include	VERB
ftr-309	521	30	the	the	DET
ftr-309	521	31	partners	partner	NOUN
ftr-309	521	32	'	'	PART
ftr-309	521	33	relative	relative	ADJ
ftr-309	521	34	contributions	contribution	NOUN
ftr-309	521	35	to	to	ADP
ftr-309	521	36	the	the	DET
ftr-309	521	37	partnership	partnership	NOUN
ftr-309	521	38	,	,	PUNCT
ftr-309	521	39	the	the	DET
ftr-309	521	40	interests	interest	NOUN
ftr-309	521	41	of	of	ADP
ftr-309	521	42	the	the	DET
ftr-309	521	43	partners	partner	NOUN
ftr-309	521	44	in	in	ADP
ftr-309	521	45	economic	economic	ADJ
ftr-309	521	46	profits	profit	NOUN
ftr-309	521	47	and	and	CCONJ
ftr-309	521	48	losses	loss	NOUN
ftr-309	521	49	,	,	PUNCT
ftr-309	521	50	the	the	DET
ftr-309	521	51	interests	interest	NOUN
ftr-309	521	52	of	of	ADP
ftr-309	521	53	the	the	DET
ftr-309	521	54	partners	partner	NOUN
ftr-309	521	55	in	in	ADP
ftr-309	521	56	cash	cash	NOUN
ftr-309	521	57	flow	flow	NOUN
ftr-309	521	58	and	and	CCONJ
ftr-309	521	59	other	other	ADJ
ftr-309	521	60	non	non	ADJ
ftr-309	521	61	-	-	ADJ
ftr-309	521	62	liquidating	liquidating	ADJ
ftr-309	521	63	distributions	distribution	NOUN
ftr-309	521	64	,	,	PUNCT
ftr-309	521	65	and	and	CCONJ
ftr-309	521	66	the	the	DET
ftr-309	521	67	rights	right	NOUN
ftr-309	521	68	of	of	ADP
ftr-309	521	69	the	the	DET
ftr-309	521	70	partners	partner	NOUN
ftr-309	521	71	to	to	ADP
ftr-309	521	72	distributions	distribution	NOUN
ftr-309	521	73	of	of	ADP
ftr-309	521	74	capital	capital	NOUN
ftr-309	521	75	upon	upon	SCONJ
ftr-309	521	76	liquidation	liquidation	NOUN
ftr-309	521	77	.	.	PUNCT
ftr-309	522	1	regs	reg	NOUN
ftr-309	522	2	.	.	PUNCT
ftr-309	523	1	§	§	PROPN
ftr-309	523	2	1.7041(b)(3)(i)-(ii	1.7041(b)(3)(i)-(ii	NUM
ftr-309	523	3	)	)	PUNCT
ftr-309	523	4	.	.	PUNCT
ftr-309	524	1	once	once	SCONJ
ftr-309	524	2	a	a	DET
ftr-309	524	3	partner	partner	NOUN
ftr-309	524	4	's	's	PART
ftr-309	524	5	economic	economic	ADJ
ftr-309	524	6	share	share	NOUN
ftr-309	524	7	is	be	AUX
ftr-309	524	8	determined	determine	VERB
ftr-309	524	9	,	,	PUNCT
ftr-309	524	10	tax	tax	NOUN
ftr-309	524	11	items	item	NOUN
ftr-309	524	12	must	must	AUX
ftr-309	524	13	be	be	AUX
ftr-309	524	14	allocated	allocate	VERB
ftr-309	524	15	in	in	ADP
ftr-309	524	16	a	a	DET
ftr-309	524	17	way	way	NOUN
ftr-309	524	18	that	that	PRON
ftr-309	524	19	is	be	AUX
ftr-309	524	20	consistent	consistent	ADJ
ftr-309	524	21	with	with	ADP
ftr-309	524	22	that	that	DET
ftr-309	524	23	economic	economic	ADJ
ftr-309	524	24	share	share	NOUN
ftr-309	524	25	to	to	PART
ftr-309	524	26	be	be	AUX
ftr-309	524	27	respected	respect	VERB
ftr-309	524	28	under	under	ADP
ftr-309	524	29	the	the	DET
ftr-309	524	30	pip	pip	PROPN
ftr-309	524	31	test	test	NOUN
ftr-309	524	32	.	.	PUNCT
ftr-309	525	1	regs	reg	NOUN
ftr-309	525	2	.	.	PUNCT
ftr-309	526	1	§	§	PROPN
ftr-309	526	2	1.704	1.704	NUM
ftr-309	526	3	-	-	NUM
ftr-309	526	4	1(b)(1)(i	1(b)(1)(i	NUM
ftr-309	526	5	)	)	PUNCT
ftr-309	526	6	.	.	PUNCT
ftr-309	527	1	for	for	ADP
ftr-309	527	2	further	further	ADJ
ftr-309	527	3	discussion	discussion	NOUN
ftr-309	527	4	of	of	ADP
ftr-309	527	5	pip	pip	NOUN
ftr-309	527	6	,	,	PUNCT
ftr-309	527	7	see	see	VERB
ftr-309	527	8	bradley	bradley	PROPN
ftr-309	527	9	t.	t.	PROPN
ftr-309	527	10	borden	borden	PROPN
ftr-309	527	11	,	,	PUNCT
ftr-309	527	12	the	the	DET
ftr-309	527	13	allure	allure	NOUN
ftr-309	527	14	and	and	CCONJ
ftr-309	527	15	illusion	illusion	NOUN
ftr-309	527	16	ofpartners'interests	ofpartners'interest	NOUN
ftr-309	527	17	in	in	ADP
ftr-309	527	18	a	a	DET
ftr-309	527	19	partnership	partnership	NOUN
ftr-309	527	20	,	,	PUNCT
ftr-309	527	21	79	79	NUM
ftr-309	527	22	u.	u.	NOUN
ftr-309	527	23	cin	cin	PROPN
ftr-309	527	24	.	.	PUNCT
ftr-309	528	1	l.	l.	PROPN
ftr-309	528	2	rev	rev	PROPN
ftr-309	528	3	.	.	PROPN
ftr-309	528	4	1077	1077	NUM
ftr-309	528	5	(	(	PUNCT
ftr-309	528	6	2011	2011	NUM
ftr-309	528	7	)	)	PUNCT
ftr-309	528	8	.	.	PUNCT
ftr-309	529	1	91	91	NUM
ftr-309	529	2	.	.	PUNCT
ftr-309	529	3	regs	regs	PROPN
ftr-309	529	4	.	.	PUNCT
ftr-309	530	1	§	§	PROPN
ftr-309	530	2	1.704	1.704	NUM
ftr-309	530	3	-	-	SYM
ftr-309	530	4	1	1	NUM
ftr-309	530	5	(	(	PUNCT
ftr-309	530	6	b)(2)(i	b)(2)(i	PROPN
ftr-309	530	7	)	)	PUNCT
ftr-309	530	8	(	(	PUNCT
ftr-309	530	9	"	"	PUNCT
ftr-309	530	10	the	the	DET
ftr-309	530	11	determination	determination	NOUN
ftr-309	530	12	of	of	ADP
ftr-309	530	13	whether	whether	SCONJ
ftr-309	530	14	an	an	DET
ftr-309	530	15	allocation	allocation	NOUN
ftr-309	530	16	of	of	ADP
ftr-309	530	17	income	income	NOUN
ftr-309	530	18	,	,	PUNCT
ftr-309	530	19	gain	gain	NOUN
ftr-309	530	20	,	,	PUNCT
ftr-309	530	21	loss	loss	NOUN
ftr-309	530	22	,	,	PUNCT
ftr-309	530	23	or	or	CCONJ
ftr-309	530	24	deduction	deduction	NOUN
ftr-309	530	25	(	(	PUNCT
ftr-309	530	26	or	or	CCONJ
ftr-309	530	27	item	item	NOUN
ftr-309	530	28	thereof	thereof	ADV
ftr-309	530	29	)	)	PUNCT
ftr-309	530	30	to	to	ADP
ftr-309	530	31	a	a	DET
ftr-309	530	32	partner	partner	NOUN
ftr-309	530	33	has	have	AUX
ftr-309	530	34	substantial	substantial	ADJ
ftr-309	530	35	economic	economic	ADJ
ftr-309	530	36	effect	effect	NOUN
ftr-309	530	37	involves	involve	VERB
ftr-309	530	38	a	a	DET
ftr-309	530	39	two	two	NUM
ftr-309	530	40	-	-	PUNCT
ftr-309	530	41	part	part	NOUN
ftr-309	530	42	analysis	analysis	NOUN
ftr-309	530	43	.	.	PUNCT
ftr-309	530	44	.	.	PUNCT
ftr-309	530	45	.	.	PUNCT
ftr-309	530	46	.	.	PUNCT
ftr-309	531	1	"	"	PUNCT
ftr-309	531	2	)	)	PUNCT
ftr-309	531	3	.	.	PUNCT
ftr-309	532	1	[	[	X
ftr-309	532	2	vol	vol	NOUN
ftr-309	532	3	.	.	PUNCT
ftr-309	533	1	14:5174	14:5174	NUM
ftr-309	533	2	2013	2013	NUM
ftr-309	533	3	]	]	PUNCT
ftr-309	533	4	was	be	AUX
ftr-309	533	5	blackstone	blackstone	NOUN
ftr-309	533	6	's	's	PART
ftr-309	533	7	initial	initial	ADJ
ftr-309	533	8	public	public	ADJ
ftr-309	533	9	offering	offering	NOUN
ftr-309	533	10	too	too	ADV
ftr-309	533	11	good	good	ADJ
ftr-309	533	12	to	to	PART
ftr-309	533	13	be	be	AUX
ftr-309	533	14	true	true	ADJ
ftr-309	533	15	?	?	PUNCT
ftr-309	534	1	economic	economic	ADJ
ftr-309	534	2	effect	effect	NOUN
ftr-309	534	3	of	of	ADP
ftr-309	534	4	the	the	DET
ftr-309	534	5	allocation[s	allocation[	NOUN
ftr-309	534	6	]	]	PUNCT
ftr-309	534	7	must	must	AUX
ftr-309	534	8	be	be	AUX
ftr-309	534	9	substantial	substantial	ADJ
ftr-309	534	10	.	.	PUNCT
ftr-309	534	11	"	"	PUNCT
ftr-309	535	1	93	93	NUM
ftr-309	535	2	this	this	DET
ftr-309	535	3	second	second	ADJ
ftr-309	535	4	hurdle	hurdle	NOUN
ftr-309	535	5	is	be	AUX
ftr-309	535	6	often	often	ADV
ftr-309	535	7	called	call	VERB
ftr-309	535	8	the	the	DET
ftr-309	535	9	"	"	PUNCT
ftr-309	535	10	substantiality	substantiality	NOUN
ftr-309	535	11	"	"	PUNCT
ftr-309	535	12	requirement.94	requirement.94	NOUN
ftr-309	535	13	1	1	NUM
ftr-309	535	14	.	.	PUNCT
ftr-309	535	15	economic	economic	ADJ
ftr-309	535	16	effect	effect	NOUN
ftr-309	535	17	:	:	PUNCT
ftr-309	535	18	the	the	DET
ftr-309	535	19	rules	rule	NOUN
ftr-309	535	20	partnership	partnership	NOUN
ftr-309	535	21	agreement	agreement	NOUN
ftr-309	535	22	allocations	allocation	NOUN
ftr-309	535	23	most	most	ADV
ftr-309	535	24	commonly	commonly	ADV
ftr-309	535	25	aim	aim	VERB
ftr-309	535	26	to	to	PART
ftr-309	535	27	overcome	overcome	VERB
ftr-309	535	28	the	the	DET
ftr-309	535	29	"	"	PUNCT
ftr-309	535	30	economic	economic	ADJ
ftr-309	535	31	effect	effect	NOUN
ftr-309	535	32	"	"	PUNCT
ftr-309	535	33	hurdle	hurdle	NOUN
ftr-309	535	34	by	by	ADP
ftr-309	535	35	complying	comply	VERB
ftr-309	535	36	with	with	ADP
ftr-309	535	37	the	the	DET
ftr-309	535	38	"	"	PUNCT
ftr-309	535	39	alternate	alternate	ADJ
ftr-309	535	40	test	test	NOUN
ftr-309	535	41	for	for	ADP
ftr-309	535	42	economic	economic	ADJ
ftr-309	535	43	effect	effect	NOUN
ftr-309	535	44	.	.	PUNCT
ftr-309	536	1	"9	"9	ADJ
ftr-309	536	2	in	in	ADP
ftr-309	536	3	order	order	NOUN
ftr-309	536	4	to	to	PART
ftr-309	536	5	comply	comply	VERB
ftr-309	536	6	with	with	ADP
ftr-309	536	7	this	this	DET
ftr-309	536	8	test	test	NOUN
ftr-309	536	9	,	,	PUNCT
ftr-309	536	10	(	(	PUNCT
ftr-309	536	11	1	1	X
ftr-309	536	12	)	)	PUNCT
ftr-309	536	13	a	a	DET
ftr-309	536	14	partnership	partnership	NOUN
ftr-309	536	15	must	must	AUX
ftr-309	536	16	maintain	maintain	VERB
ftr-309	536	17	a	a	DET
ftr-309	536	18	capital	capital	NOUN
ftr-309	536	19	account	account	NOUN
ftr-309	536	20	for	for	ADP
ftr-309	536	21	each	each	DET
ftr-309	536	22	partner	partner	NOUN
ftr-309	536	23	in	in	ADP
ftr-309	536	24	a	a	DET
ftr-309	536	25	manner	manner	NOUN
ftr-309	536	26	specified	specify	VERB
ftr-309	536	27	in	in	ADP
ftr-309	536	28	the	the	DET
ftr-309	536	29	treasury	treasury	NOUN
ftr-309	536	30	regulations	regulation	NOUN
ftr-309	536	31	;	;	PUNCT
ftr-309	536	32	96	96	NUM
ftr-309	536	33	(	(	PUNCT
ftr-309	536	34	2	2	NUM
ftr-309	536	35	)	)	PUNCT
ftr-309	536	36	the	the	DET
ftr-309	536	37	partnership	partnership	NOUN
ftr-309	536	38	must	must	AUX
ftr-309	536	39	liquidate	liquidate	VERB
ftr-309	536	40	based	base	VERB
ftr-309	536	41	on	on	ADP
ftr-309	536	42	positive	positive	ADJ
ftr-309	536	43	capital	capital	NOUN
ftr-309	536	44	account	account	NOUN
ftr-309	536	45	balances;97	balances;97	NOUN
ftr-309	536	46	and	and	CCONJ
ftr-309	536	47	(	(	PUNCT
ftr-309	536	48	3	3	X
ftr-309	536	49	)	)	PUNCT
ftr-309	536	50	the	the	DET
ftr-309	536	51	partnership	partnership	NOUN
ftr-309	536	52	must	must	AUX
ftr-309	536	53	take	take	VERB
ftr-309	536	54	steps	step	NOUN
ftr-309	536	55	to	to	PART
ftr-309	536	56	ensure	ensure	VERB
ftr-309	536	57	that	that	SCONJ
ftr-309	536	58	no	no	DET
ftr-309	536	59	partner	partner	NOUN
ftr-309	536	60	's	's	PART
ftr-309	536	61	capital	capital	NOUN
ftr-309	536	62	account	account	NOUN
ftr-309	536	63	balance	balance	NOUN
ftr-309	536	64	becomes	become	VERB
ftr-309	536	65	or	or	CCONJ
ftr-309	536	66	remains	remain	VERB
ftr-309	536	67	impermissibly	impermissibly	ADV
ftr-309	536	68	negative	negative	ADJ
ftr-309	536	69	.	.	PUNCT
ftr-309	537	1	as	as	SCONJ
ftr-309	537	2	it	it	PRON
ftr-309	537	3	is	be	AUX
ftr-309	537	4	only	only	ADV
ftr-309	537	5	necessary	necessary	ADJ
ftr-309	537	6	to	to	PART
ftr-309	537	7	understand	understand	VERB
ftr-309	537	8	the	the	DET
ftr-309	537	9	first	first	ADJ
ftr-309	537	10	and	and	CCONJ
ftr-309	537	11	second	second	ADJ
ftr-309	537	12	92	92	NUM
ftr-309	537	13	.	.	PUNCT
ftr-309	538	1	i	i	PRON
ftr-309	538	2	d.	d.	PROPN
ftr-309	538	3	93	93	NUM
ftr-309	538	4	.	.	PUNCT
ftr-309	539	1	i	i	PRON
ftr-309	539	2	d.	d.	PROPN
ftr-309	539	3	94	94	NUM
ftr-309	539	4	.	.	PUNCT
ftr-309	540	1	see	see	VERB
ftr-309	540	2	regs	reg	NOUN
ftr-309	540	3	.	.	PUNCT
ftr-309	541	1	§	§	PROPN
ftr-309	541	2	1.704	1.704	NUM
ftr-309	541	3	-	-	NUM
ftr-309	541	4	l(b)(2)(iii	l(b)(2)(iii	NOUN
ftr-309	541	5	)	)	PUNCT
ftr-309	541	6	.	.	PUNCT
ftr-309	542	1	95	95	NUM
ftr-309	542	2	.	.	PUNCT
ftr-309	543	1	there	there	PRON
ftr-309	543	2	are	be	VERB
ftr-309	543	3	two	two	NUM
ftr-309	543	4	other	other	ADJ
ftr-309	543	5	ways	way	NOUN
ftr-309	543	6	that	that	PRON
ftr-309	543	7	an	an	DET
ftr-309	543	8	allocation	allocation	NOUN
ftr-309	543	9	can	can	AUX
ftr-309	543	10	have	have	VERB
ftr-309	543	11	economic	economic	ADJ
ftr-309	543	12	effect	effect	NOUN
ftr-309	543	13	:	:	PUNCT
ftr-309	543	14	(	(	PUNCT
ftr-309	543	15	1	1	X
ftr-309	543	16	)	)	PUNCT
ftr-309	543	17	if	if	SCONJ
ftr-309	543	18	the	the	DET
ftr-309	543	19	allocation	allocation	NOUN
ftr-309	543	20	complies	comply	VERB
ftr-309	543	21	with	with	ADP
ftr-309	543	22	the	the	DET
ftr-309	543	23	"	"	PUNCT
ftr-309	543	24	basic	basic	ADJ
ftr-309	543	25	test	test	NOUN
ftr-309	543	26	"	"	PUNCT
ftr-309	543	27	for	for	ADP
ftr-309	543	28	economic	economic	ADJ
ftr-309	543	29	effect	effect	NOUN
ftr-309	543	30	;	;	PUNCT
ftr-309	543	31	or	or	CCONJ
ftr-309	543	32	(	(	PUNCT
ftr-309	543	33	2	2	X
ftr-309	543	34	)	)	PUNCT
ftr-309	543	35	if	if	SCONJ
ftr-309	543	36	the	the	DET
ftr-309	543	37	allocation	allocation	NOUN
ftr-309	543	38	has	have	VERB
ftr-309	543	39	"	"	PUNCT
ftr-309	543	40	economic	economic	ADJ
ftr-309	543	41	effect	effect	NOUN
ftr-309	543	42	equivalence	equivalence	NOUN
ftr-309	543	43	.	.	PUNCT
ftr-309	543	44	"	"	PUNCT
ftr-309	544	1	see	see	VERB
ftr-309	544	2	regs	reg	NOUN
ftr-309	544	3	.	.	PUNCT
ftr-309	545	1	§	§	PROPN
ftr-309	545	2	1.704	1.704	NUM
ftr-309	545	3	-	-	PUNCT
ftr-309	545	4	l(b)(2)(ii)(b	l(b)(2)(ii)(b	NOUN
ftr-309	545	5	)	)	PUNCT
ftr-309	545	6	(	(	PUNCT
ftr-309	545	7	describing	describe	VERB
ftr-309	545	8	the	the	DET
ftr-309	545	9	basic	basic	ADJ
ftr-309	545	10	test	test	NOUN
ftr-309	545	11	for	for	ADP
ftr-309	545	12	economic	economic	ADJ
ftr-309	545	13	effect	effect	NOUN
ftr-309	545	14	)	)	PUNCT
ftr-309	545	15	;	;	PUNCT
ftr-309	545	16	regs	reg	NOUN
ftr-309	545	17	.	.	PUNCT
ftr-309	546	1	§	§	PROPN
ftr-309	546	2	1.704	1.704	NUM
ftr-309	546	3	-	-	NUM
ftr-309	546	4	1(b)(2)(ii)(i	1(b)(2)(ii)(i	NUM
ftr-309	546	5	)	)	PUNCT
ftr-309	546	6	(	(	PUNCT
ftr-309	546	7	describing	describe	VERB
ftr-309	546	8	economic	economic	ADJ
ftr-309	546	9	effect	effect	NOUN
ftr-309	546	10	equivalence	equivalence	NOUN
ftr-309	546	11	)	)	PUNCT
ftr-309	546	12	.	.	PUNCT
ftr-309	547	1	because	because	SCONJ
ftr-309	547	2	these	these	DET
ftr-309	547	3	possibilities	possibility	NOUN
ftr-309	547	4	are	be	AUX
ftr-309	547	5	not	not	PART
ftr-309	547	6	relevant	relevant	ADJ
ftr-309	547	7	to	to	ADP
ftr-309	547	8	the	the	DET
ftr-309	547	9	blackstone	blackstone	NOUN
ftr-309	547	10	group	group	NOUN
ftr-309	547	11	structure	structure	NOUN
ftr-309	547	12	,	,	PUNCT
ftr-309	547	13	they	they	PRON
ftr-309	547	14	are	be	AUX
ftr-309	547	15	not	not	PART
ftr-309	547	16	discussed	discuss	VERB
ftr-309	547	17	in	in	ADP
ftr-309	547	18	this	this	DET
ftr-309	547	19	article	article	NOUN
ftr-309	547	20	.	.	PUNCT
ftr-309	548	1	96	96	NUM
ftr-309	548	2	.	.	PUNCT
ftr-309	548	3	regs	regs	PROPN
ftr-309	548	4	.	.	PUNCT
ftr-309	549	1	§	§	PROPN
ftr-309	549	2	§	§	PROPN
ftr-309	549	3	1.704	1.704	NUM
ftr-309	549	4	-	-	NUM
ftr-309	549	5	1(b)(2)(ii)(d)(1	1(b)(2)(ii)(d)(1	NUM
ftr-309	549	6	)	)	PUNCT
ftr-309	549	7	(	(	PUNCT
ftr-309	549	8	providing	provide	VERB
ftr-309	549	9	that	that	PRON
ftr-309	549	10	to	to	PART
ftr-309	549	11	comply	comply	VERB
ftr-309	549	12	with	with	ADP
ftr-309	549	13	the	the	DET
ftr-309	549	14	alternate	alternate	ADJ
ftr-309	549	15	test	test	NOUN
ftr-309	549	16	for	for	ADP
ftr-309	549	17	economic	economic	ADJ
ftr-309	549	18	effect	effect	NOUN
ftr-309	549	19	,	,	PUNCT
ftr-309	549	20	the	the	DET
ftr-309	549	21	allocations	allocation	NOUN
ftr-309	549	22	must	must	AUX
ftr-309	549	23	comply	comply	VERB
ftr-309	549	24	with	with	ADP
ftr-309	549	25	regulations	regulation	NOUN
ftr-309	549	26	section	section	NOUN
ftr-309	549	27	1.704	1.704	NUM
ftr-309	549	28	-	-	PUNCT
ftr-309	549	29	l(b)(2)(ii)(b)(1	l(b)(2)(ii)(b)(1	NOUN
ftr-309	549	30	)	)	PUNCT
ftr-309	549	31	)	)	PUNCT
ftr-309	550	1	;	;	PUNCT
ftr-309	550	2	1.704	1.704	NUM
ftr-309	550	3	-	-	SYM
ftr-309	550	4	1(b)(2)(ii)(b)(1	1(b)(2)(ii)(b)(1	NUM
ftr-309	550	5	)	)	PUNCT
ftr-309	550	6	(	(	PUNCT
ftr-309	550	7	providing	provide	VERB
ftr-309	550	8	that	that	SCONJ
ftr-309	550	9	the	the	DET
ftr-309	550	10	partnership	partnership	NOUN
ftr-309	550	11	agreement	agreement	NOUN
ftr-309	550	12	must	must	AUX
ftr-309	550	13	maintain	maintain	VERB
ftr-309	550	14	a	a	DET
ftr-309	550	15	capital	capital	NOUN
ftr-309	550	16	account	account	NOUN
ftr-309	550	17	for	for	ADP
ftr-309	550	18	each	each	DET
ftr-309	550	19	partner	partner	NOUN
ftr-309	550	20	in	in	ADP
ftr-309	550	21	accordance	accordance	NOUN
ftr-309	550	22	with	with	ADP
ftr-309	550	23	the	the	DET
ftr-309	550	24	rules	rule	NOUN
ftr-309	550	25	in	in	ADP
ftr-309	550	26	regulations	regulation	NOUN
ftr-309	550	27	section	section	NOUN
ftr-309	550	28	1.704	1.704	NUM
ftr-309	550	29	-	-	SYM
ftr-309	550	30	1	1	NUM
ftr-309	550	31	(	(	PUNCT
ftr-309	550	32	b)(2)(iv	b)(2)(iv	NOUN
ftr-309	550	33	)	)	PUNCT
ftr-309	550	34	)	)	PUNCT
ftr-309	550	35	.	.	PUNCT
ftr-309	551	1	97	97	NUM
ftr-309	551	2	.	.	PUNCT
ftr-309	551	3	regs	regs	PROPN
ftr-309	551	4	.	.	PUNCT
ftr-309	552	1	§	§	PROPN
ftr-309	552	2	§	§	PROPN
ftr-309	552	3	1.704	1.704	NUM
ftr-309	552	4	-	-	NUM
ftr-309	552	5	1(b)(2)(ii)(d)(1	1(b)(2)(ii)(d)(1	NUM
ftr-309	552	6	)	)	PUNCT
ftr-309	552	7	(	(	PUNCT
ftr-309	552	8	providing	provide	VERB
ftr-309	552	9	that	that	PRON
ftr-309	552	10	,	,	PUNCT
ftr-309	552	11	to	to	PART
ftr-309	552	12	comply	comply	VERB
ftr-309	552	13	with	with	ADP
ftr-309	552	14	the	the	DET
ftr-309	552	15	alternate	alternate	ADJ
ftr-309	552	16	test	test	NOUN
ftr-309	552	17	for	for	ADP
ftr-309	552	18	economic	economic	ADJ
ftr-309	552	19	effect	effect	NOUN
ftr-309	552	20	,	,	PUNCT
ftr-309	552	21	the	the	DET
ftr-309	552	22	allocations	allocation	NOUN
ftr-309	552	23	must	must	AUX
ftr-309	552	24	comply	comply	VERB
ftr-309	552	25	with	with	ADP
ftr-309	552	26	regulations	regulation	NOUN
ftr-309	552	27	section	section	NOUN
ftr-309	552	28	1.704	1.704	NUM
ftr-309	552	29	-	-	SYM
ftr-309	552	30	1(b)(2)(ii)(b)(2	1(b)(2)(ii)(b)(2	NUM
ftr-309	552	31	)	)	PUNCT
ftr-309	552	32	)	)	PUNCT
ftr-309	552	33	;	;	PUNCT
ftr-309	552	34	1.704	1.704	NUM
ftr-309	552	35	-	-	SYM
ftr-309	552	36	1(b)(2)(ii)(b)(2	1(b)(2)(ii)(b)(2	NUM
ftr-309	552	37	)	)	PUNCT
ftr-309	552	38	(	(	PUNCT
ftr-309	552	39	providing	provide	VERB
ftr-309	552	40	that	that	SCONJ
ftr-309	552	41	the	the	DET
ftr-309	552	42	partnership	partnership	NOUN
ftr-309	552	43	must	must	AUX
ftr-309	552	44	make	make	VERB
ftr-309	552	45	liquidating	liquidating	NOUN
ftr-309	552	46	distributions	distribution	NOUN
ftr-309	552	47	in	in	ADP
ftr-309	552	48	accordance	accordance	NOUN
ftr-309	552	49	with	with	ADP
ftr-309	552	50	the	the	DET
ftr-309	552	51	positive	positive	ADJ
ftr-309	552	52	capital	capital	NOUN
ftr-309	552	53	account	account	NOUN
ftr-309	552	54	balances	balance	NOUN
ftr-309	552	55	of	of	ADP
ftr-309	552	56	the	the	DET
ftr-309	552	57	partners	partner	NOUN
ftr-309	552	58	)	)	PUNCT
ftr-309	552	59	.	.	PUNCT
ftr-309	553	1	98	98	NUM
ftr-309	553	2	.	.	PUNCT
ftr-309	553	3	regs	regs	PROPN
ftr-309	553	4	.	.	PUNCT
ftr-309	554	1	§	§	PROPN
ftr-309	554	2	1.704	1.704	NUM
ftr-309	554	3	-	-	PUNCT
ftr-309	554	4	l(b)(2)(ii)(d)(3	l(b)(2)(ii)(d)(3	NOUN
ftr-309	554	5	)	)	PUNCT
ftr-309	554	6	.	.	PUNCT
ftr-309	555	1	regarding	regard	VERB
ftr-309	555	2	this	this	DET
ftr-309	555	3	third	third	ADJ
ftr-309	555	4	requirement	requirement	NOUN
ftr-309	555	5	,	,	PUNCT
ftr-309	555	6	a	a	DET
ftr-309	555	7	partner	partner	NOUN
ftr-309	555	8	has	have	VERB
ftr-309	555	9	a	a	DET
ftr-309	555	10	deficit	deficit	NOUN
ftr-309	555	11	restoration	restoration	NOUN
ftr-309	555	12	obligation	obligation	NOUN
ftr-309	555	13	(	(	PUNCT
ftr-309	555	14	a	a	DET
ftr-309	555	15	"	"	PUNCT
ftr-309	555	16	dro	dro	PROPN
ftr-309	555	17	"	"	PUNCT
ftr-309	555	18	)	)	PUNCT
ftr-309	555	19	to	to	ADP
ftr-309	555	20	the	the	DET
ftr-309	555	21	extent	extent	NOUN
ftr-309	555	22	that	that	SCONJ
ftr-309	555	23	the	the	DET
ftr-309	555	24	partner	partner	NOUN
ftr-309	555	25	would	would	AUX
ftr-309	555	26	have	have	AUX
ftr-309	555	27	to	to	PART
ftr-309	555	28	contribute	contribute	VERB
ftr-309	555	29	cash	cash	NOUN
ftr-309	555	30	to	to	ADP
ftr-309	555	31	the	the	DET
ftr-309	555	32	partnership	partnership	NOUN
ftr-309	555	33	on	on	ADP
ftr-309	555	34	liquidation	liquidation	NOUN
ftr-309	555	35	if	if	SCONJ
ftr-309	555	36	that	that	DET
ftr-309	555	37	partner	partner	NOUN
ftr-309	555	38	's	's	PART
ftr-309	555	39	capital	capital	NOUN
ftr-309	555	40	account	account	NOUN
ftr-309	555	41	balance	balance	NOUN
ftr-309	555	42	were	be	AUX
ftr-309	555	43	negative	negative	ADJ
ftr-309	555	44	.	.	PUNCT
ftr-309	556	1	the	the	DET
ftr-309	556	2	third	third	ADJ
ftr-309	556	3	requirement	requirement	NOUN
ftr-309	556	4	consists	consist	VERB
ftr-309	556	5	of	of	ADP
ftr-309	556	6	taking	take	VERB
ftr-309	556	7	steps	step	NOUN
ftr-309	556	8	to	to	PART
ftr-309	556	9	ensure	ensure	VERB
ftr-309	556	10	that	that	SCONJ
ftr-309	556	11	no	no	DET
ftr-309	556	12	partner	partner	NOUN
ftr-309	556	13	's	's	PART
ftr-309	556	14	capital	capital	NOUN
ftr-309	556	15	account	account	NOUN
ftr-309	556	16	will	will	AUX
ftr-309	556	17	become	become	VERB
ftr-309	556	18	(	(	PUNCT
ftr-309	556	19	or	or	CCONJ
ftr-309	556	20	remain	remain	VERB
ftr-309	556	21	)	)	PUNCT
ftr-309	556	22	negative	negative	ADJ
ftr-309	556	23	in	in	ADP
ftr-309	556	24	excess	excess	NOUN
ftr-309	556	25	of	of	ADP
ftr-309	556	26	that	that	DET
ftr-309	556	27	partner	partner	NOUN
ftr-309	556	28	's	's	PART
ftr-309	556	29	dro	dro	PROPN
ftr-309	556	30	.	.	PUNCT
ftr-309	557	1	in	in	ADP
ftr-309	557	2	particular	particular	ADJ
ftr-309	557	3	,	,	PUNCT
ftr-309	557	4	under	under	ADP
ftr-309	557	5	the	the	DET
ftr-309	557	6	third	third	ADJ
ftr-309	557	7	requirement	requirement	NOUN
ftr-309	557	8	,	,	PUNCT
ftr-309	557	9	(	(	PUNCT
ftr-309	557	10	1	1	X
ftr-309	557	11	)	)	PUNCT
ftr-309	557	12	the	the	DET
ftr-309	557	13	partnership	partnership	NOUN
ftr-309	557	14	must	must	AUX
ftr-309	557	15	not	not	PART
ftr-309	557	16	allocate	allocate	VERB
ftr-309	557	17	items	item	NOUN
ftr-309	557	18	to	to	ADP
ftr-309	557	19	a	a	DET
ftr-309	557	20	partner	partner	NOUN
ftr-309	557	21	that	that	PRON
ftr-309	557	22	will	will	AUX
ftr-309	557	23	cause	cause	VERB
ftr-309	557	24	the	the	DET
ftr-309	557	25	partner	partner	NOUN
ftr-309	557	26	to	to	PART
ftr-309	557	27	have	have	VERB
ftr-309	557	28	a	a	DET
ftr-309	557	29	negative	negative	ADJ
ftr-309	557	30	capital	capital	NOUN
ftr-309	557	31	account	account	NOUN
ftr-309	557	32	balance	balance	NOUN
ftr-309	557	33	(	(	PUNCT
ftr-309	557	34	after	after	ADP
ftr-309	557	35	factoring	factor	VERB
ftr-309	557	36	in	in	ADP
ftr-309	557	37	certain	certain	ADJ
ftr-309	557	38	expected	expect	VERB
ftr-309	557	39	distributions	distribution	NOUN
ftr-309	557	40	to	to	ADP
ftr-309	557	41	the	the	DET
ftr-309	557	42	partner	partner	NOUN
ftr-309	557	43	and	and	CCONJ
ftr-309	557	44	other	other	ADJ
ftr-309	557	45	expected	expect	VERB
ftr-309	557	46	future	future	ADJ
ftr-309	557	47	events	event	NOUN
ftr-309	557	48	)	)	PUNCT
ftr-309	557	49	that	that	PRON
ftr-309	557	50	exceeds	exceed	VERB
ftr-309	557	51	that	that	DET
ftr-309	557	52	partner	partner	NOUN
ftr-309	557	53	's	's	PART
ftr-309	557	54	dro	dro	NOUN
ftr-309	557	55	(	(	PUNCT
ftr-309	557	56	if	if	SCONJ
ftr-309	557	57	any	any	PRON
ftr-309	557	58	)	)	PUNCT
ftr-309	557	59	,	,	PUNCT
ftr-309	557	60	and	and	CCONJ
ftr-309	557	61	(	(	PUNCT
ftr-309	557	62	2	2	X
ftr-309	557	63	)	)	PUNCT
ftr-309	557	64	the	the	DET
ftr-309	557	65	partnership	partnership	NOUN
ftr-309	557	66	agreement	agreement	NOUN
ftr-309	557	67	must	must	AUX
ftr-309	557	68	contain	contain	VERB
ftr-309	557	69	a	a	DET
ftr-309	557	70	qualified	qualified	ADJ
ftr-309	557	71	income	income	NOUN
ftr-309	557	72	offset	offset	NOUN
ftr-309	557	73	(	(	PUNCT
ftr-309	557	74	which	which	PRON
ftr-309	557	75	provides	provide	VERB
ftr-309	557	76	that	that	SCONJ
ftr-309	557	77	,	,	PUNCT
ftr-309	557	78	if	if	SCONJ
ftr-309	557	79	a	a	DET
ftr-309	557	80	partner	partner	NOUN
ftr-309	557	81	's	's	PART
ftr-309	557	82	capital	capital	NOUN
ftr-309	557	83	account	account	NOUN
ftr-309	557	84	balance	balance	NOUN
ftr-309	557	85	does	do	AUX
ftr-309	557	86	become	become	VERB
ftr-309	557	87	negative	negative	ADJ
ftr-309	557	88	in	in	ADP
ftr-309	557	89	excess	excess	NOUN
ftr-309	557	90	of	of	ADP
ftr-309	557	91	that	that	DET
ftr-309	557	92	partner	partner	NOUN
ftr-309	557	93	's	's	PART
ftr-309	557	94	dro	dro	PROPN
ftr-309	557	95	,	,	PUNCT
ftr-309	557	96	the	the	DET
ftr-309	557	97	partnership	partnership	NOUN
ftr-309	557	98	will	will	AUX
ftr-309	557	99	allocate	allocate	VERB
ftr-309	557	100	income	income	NOUN
ftr-309	557	101	to	to	ADP
ftr-309	557	102	the	the	DET
ftr-309	557	103	partner	partner	NOUN
ftr-309	557	104	to	to	ADP
ftr-309	557	105	i175	i175	PROPN
ftr-309	557	106	florida	florida	PROPN
ftr-309	557	107	tax	tax	NOUN
ftr-309	557	108	review	review	NOUN
ftr-309	557	109	requirements	requirement	NOUN
ftr-309	557	110	in	in	ADP
ftr-309	557	111	order	order	NOUN
ftr-309	557	112	to	to	PART
ftr-309	557	113	understand	understand	VERB
ftr-309	557	114	blackstone	blackstone	NOUN
ftr-309	557	115	group	group	NOUN
ftr-309	557	116	's	's	PART
ftr-309	557	117	structure	structure	NOUN
ftr-309	557	118	,	,	PUNCT
ftr-309	557	119	only	only	ADV
ftr-309	557	120	these	these	DET
ftr-309	557	121	requirements	requirement	NOUN
ftr-309	557	122	will	will	AUX
ftr-309	557	123	be	be	AUX
ftr-309	557	124	discussed	discuss	VERB
ftr-309	557	125	below.99	below.99	NOUN
ftr-309	557	126	(	(	PUNCT
ftr-309	557	127	i	i	NOUN
ftr-309	557	128	)	)	PUNCT
ftr-309	557	129	capital	capital	NOUN
ftr-309	557	130	account	account	NOUN
ftr-309	557	131	maintenance	maintenance	NOUN
ftr-309	557	132	to	to	PART
ftr-309	557	133	comply	comply	VERB
ftr-309	557	134	with	with	ADP
ftr-309	557	135	the	the	DET
ftr-309	557	136	capital	capital	NOUN
ftr-309	557	137	account	account	NOUN
ftr-309	557	138	maintenance	maintenance	NOUN
ftr-309	557	139	prong	prong	NOUN
ftr-309	557	140	of	of	ADP
ftr-309	557	141	the	the	DET
ftr-309	557	142	alternate	alternate	ADJ
ftr-309	557	143	test	test	NOUN
ftr-309	557	144	for	for	ADP
ftr-309	557	145	economic	economic	ADJ
ftr-309	557	146	effect	effect	NOUN
ftr-309	557	147	,	,	PUNCT
ftr-309	557	148	a	a	DET
ftr-309	557	149	partnership	partnership	NOUN
ftr-309	557	150	must	must	AUX
ftr-309	557	151	maintain	maintain	VERB
ftr-309	557	152	a	a	DET
ftr-309	557	153	capital	capital	NOUN
ftr-309	557	154	account	account	NOUN
ftr-309	557	155	for	for	ADP
ftr-309	557	156	each	each	DET
ftr-309	557	157	partner	partner	NOUN
ftr-309	557	158	according	accord	VERB
ftr-309	557	159	to	to	ADP
ftr-309	557	160	specific	specific	ADJ
ftr-309	557	161	rules	rule	NOUN
ftr-309	557	162	.	.	PUNCT
ftr-309	557	163	'	'	PUNCT
ftr-309	557	164	00	00	PUNCT
ftr-309	558	1	in	in	ADP
ftr-309	558	2	particular	particular	ADJ
ftr-309	558	3	,	,	PUNCT
ftr-309	558	4	each	each	DET
ftr-309	558	5	partner	partner	NOUN
ftr-309	558	6	's	's	PART
ftr-309	558	7	capital	capital	NOUN
ftr-309	558	8	account	account	NOUN
ftr-309	558	9	,	,	PUNCT
ftr-309	558	10	at	at	ADP
ftr-309	558	11	any	any	DET
ftr-309	558	12	point	point	NOUN
ftr-309	558	13	in	in	ADP
ftr-309	558	14	time	time	NOUN
ftr-309	558	15	,	,	PUNCT
ftr-309	558	16	must	must	AUX
ftr-309	558	17	equal	equal	VERB
ftr-309	558	18	:	:	PUNCT
ftr-309	558	19	(	(	PUNCT
ftr-309	558	20	1	1	X
ftr-309	558	21	)	)	PUNCT
ftr-309	558	22	all	all	DET
ftr-309	558	23	cash	cash	NOUN
ftr-309	558	24	contributed	contribute	VERB
ftr-309	558	25	to	to	ADP
ftr-309	558	26	the	the	DET
ftr-309	558	27	partnership	partnership	NOUN
ftr-309	558	28	by	by	ADP
ftr-309	558	29	that	that	DET
ftr-309	558	30	partner	partner	NOUN
ftr-309	558	31	,	,	PUNCT
ftr-309	558	32	01	01	NUM
ftr-309	558	33	plus	plus	CCONJ
ftr-309	558	34	(	(	PUNCT
ftr-309	558	35	2	2	X
ftr-309	558	36	)	)	PUNCT
ftr-309	558	37	the	the	DET
ftr-309	558	38	fair	fair	ADJ
ftr-309	558	39	market	market	NOUN
ftr-309	558	40	value	value	NOUN
ftr-309	558	41	of	of	ADP
ftr-309	558	42	all	all	DET
ftr-309	558	43	assets	asset	NOUN
ftr-309	558	44	(	(	PUNCT
ftr-309	558	45	net	net	NOUN
ftr-309	558	46	of	of	ADP
ftr-309	558	47	liabilities	liability	NOUN
ftr-309	558	48	)	)	PUNCT
ftr-309	558	49	contributed	contribute	VERB
ftr-309	558	50	to	to	ADP
ftr-309	558	51	the	the	DET
ftr-309	558	52	partnership	partnership	NOUN
ftr-309	558	53	by	by	ADP
ftr-309	558	54	that	that	DET
ftr-309	558	55	partner,10	partner,10	NOUN
ftr-309	558	56	2	2	NUM
ftr-309	558	57	plus	plus	CCONJ
ftr-309	558	58	(	(	PUNCT
ftr-309	558	59	3	3	X
ftr-309	558	60	)	)	PUNCT
ftr-309	558	61	all	all	DET
ftr-309	558	62	items	item	NOUN
ftr-309	558	63	of	of	ADP
ftr-309	558	64	tax	tax	NOUN
ftr-309	558	65	gain	gain	NOUN
ftr-309	558	66	or	or	CCONJ
ftr-309	558	67	income	income	NOUN
ftr-309	558	68	allocated	allocate	VERB
ftr-309	558	69	to	to	ADP
ftr-309	558	70	that	that	DET
ftr-309	558	71	partner	partner	NOUN
ftr-309	558	72	by	by	ADP
ftr-309	558	73	the	the	DET
ftr-309	558	74	partnership,10	partnership,10	NOUN
ftr-309	559	1	3	3	NUM
ftr-309	559	2	minus	minus	CCONJ
ftr-309	559	3	(	(	PUNCT
ftr-309	559	4	4	4	X
ftr-309	559	5	)	)	PUNCT
ftr-309	559	6	all	all	DET
ftr-309	559	7	cash	cash	NOUN
ftr-309	559	8	distributed	distribute	VERB
ftr-309	559	9	to	to	ADP
ftr-309	559	10	that	that	DET
ftr-309	559	11	partner	partner	NOUN
ftr-309	559	12	by	by	ADP
ftr-309	559	13	the	the	DET
ftr-309	559	14	partnership	partnership	NOUN
ftr-309	559	15	,	,	PUNCT
ftr-309	559	16	104	104	NUM
ftr-309	559	17	minus	minus	CCONJ
ftr-309	559	18	(	(	PUNCT
ftr-309	559	19	5	5	NUM
ftr-309	559	20	)	)	PUNCT
ftr-309	559	21	the	the	DET
ftr-309	559	22	fair	fair	ADJ
ftr-309	559	23	market	market	NOUN
ftr-309	559	24	value	value	NOUN
ftr-309	559	25	of	of	ADP
ftr-309	559	26	all	all	DET
ftr-309	559	27	assets	asset	NOUN
ftr-309	559	28	(	(	PUNCT
ftr-309	559	29	net	net	NOUN
ftr-309	559	30	of	of	ADP
ftr-309	559	31	liabilities	liability	NOUN
ftr-309	559	32	)	)	PUNCT
ftr-309	559	33	distributed	distribute	VERB
ftr-309	559	34	to	to	ADP
ftr-309	559	35	that	that	DET
ftr-309	559	36	partner	partner	NOUN
ftr-309	559	37	by	by	ADP
ftr-309	559	38	the	the	DET
ftr-309	559	39	partnership	partnership	NOUN
ftr-309	559	40	,	,	PUNCT
ftr-309	559	41	05	05	NUM
ftr-309	559	42	minus	minus	CCONJ
ftr-309	559	43	(	(	PUNCT
ftr-309	559	44	6	6	NUM
ftr-309	559	45	)	)	PUNCT
ftr-309	559	46	all	all	DET
ftr-309	559	47	items	item	NOUN
ftr-309	559	48	of	of	ADP
ftr-309	559	49	tax	tax	NOUN
ftr-309	559	50	loss	loss	NOUN
ftr-309	559	51	or	or	CCONJ
ftr-309	559	52	deduction	deduction	NOUN
ftr-309	559	53	allocated	allocate	VERB
ftr-309	559	54	to	to	ADP
ftr-309	559	55	that	that	DET
ftr-309	559	56	partner	partner	NOUN
ftr-309	559	57	by	by	ADP
ftr-309	559	58	the	the	DET
ftr-309	559	59	partnership.106	partnership.106	NOUN
ftr-309	559	60	thus	thus	ADV
ftr-309	559	61	,	,	PUNCT
ftr-309	559	62	in	in	ADP
ftr-309	559	63	example	example	NOUN
ftr-309	559	64	2	2	NUM
ftr-309	559	65	above	above	ADV
ftr-309	559	66	,	,	PUNCT
ftr-309	559	67	the	the	DET
ftr-309	559	68	partnership	partnership	NOUN
ftr-309	559	69	would	would	AUX
ftr-309	559	70	maintain	maintain	VERB
ftr-309	559	71	a	a	DET
ftr-309	559	72	capital	capital	NOUN
ftr-309	559	73	account	account	NOUN
ftr-309	559	74	for	for	ADP
ftr-309	559	75	tom	tom	PROPN
ftr-309	559	76	and	and	CCONJ
ftr-309	559	77	leslie	leslie	PROPN
ftr-309	559	78	.	.	PUNCT
ftr-309	560	1	each	each	DET
ftr-309	560	2	partner	partner	NOUN
ftr-309	560	3	's	's	PART
ftr-309	560	4	capital	capital	NOUN
ftr-309	560	5	account	account	NOUN
ftr-309	560	6	would	would	AUX
ftr-309	560	7	initially	initially	ADV
ftr-309	560	8	equal	equal	VERB
ftr-309	560	9	$	$	SYM
ftr-309	560	10	100	100	NUM
ftr-309	560	11	because	because	SCONJ
ftr-309	560	12	each	each	DET
ftr-309	560	13	partner	partner	NOUN
ftr-309	560	14	initially	initially	ADV
ftr-309	560	15	contributed	contribute	VERB
ftr-309	560	16	$	$	SYM
ftr-309	560	17	100	100	NUM
ftr-309	560	18	cash	cash	NOUN
ftr-309	560	19	to	to	ADP
ftr-309	560	20	the	the	DET
ftr-309	560	21	partnership	partnership	NOUN
ftr-309	560	22	.	.	PUNCT
ftr-309	561	1	when	when	SCONJ
ftr-309	561	2	the	the	DET
ftr-309	561	3	partnership	partnership	NOUN
ftr-309	561	4	allocated	allocate	VERB
ftr-309	561	5	$	$	SYM
ftr-309	561	6	100	100	NUM
ftr-309	561	7	tax	tax	NOUN
ftr-309	561	8	gain	gain	NOUN
ftr-309	561	9	to	to	ADP
ftr-309	561	10	leslie	leslie	PROPN
ftr-309	561	11	and	and	CCONJ
ftr-309	561	12	no	no	DET
ftr-309	561	13	tax	tax	NOUN
ftr-309	561	14	gain	gain	NOUN
ftr-309	561	15	to	to	ADP
ftr-309	561	16	tom	tom	PROPN
ftr-309	561	17	,	,	PUNCT
ftr-309	561	18	leslie	leslie	PROPN
ftr-309	561	19	's	's	PART
ftr-309	561	20	capital	capital	NOUN
ftr-309	561	21	account	account	NOUN
ftr-309	561	22	becomes	become	VERB
ftr-309	561	23	$	$	SYM
ftr-309	561	24	200	200	NUM
ftr-309	561	25	,	,	PUNCT
ftr-309	561	26	and	and	CCONJ
ftr-309	561	27	tom	tom	PROPN
ftr-309	561	28	's	's	PART
ftr-309	561	29	capital	capital	NOUN
ftr-309	561	30	account	account	NOUN
ftr-309	561	31	remains	remain	VERB
ftr-309	561	32	$	$	SYM
ftr-309	561	33	100	100	NUM
ftr-309	561	34	.	.	PUNCT
ftr-309	562	1	eliminate	eliminate	VERB
ftr-309	562	2	the	the	DET
ftr-309	562	3	excess	excess	ADJ
ftr-309	562	4	negative	negative	ADJ
ftr-309	562	5	balance	balance	NOUN
ftr-309	562	6	as	as	ADV
ftr-309	562	7	quickly	quickly	ADV
ftr-309	562	8	as	as	ADP
ftr-309	562	9	possible	possible	ADJ
ftr-309	562	10	)	)	PUNCT
ftr-309	562	11	.	.	PUNCT
ftr-309	563	1	regs	regs	PROPN
ftr-309	563	2	.	.	PUNCT
ftr-309	564	1	§	§	PROPN
ftr-309	564	2	1.7041(b)(2)(ii)(d	1.7041(b)(2)(ii)(d	NUM
ftr-309	564	3	)	)	PUNCT
ftr-309	564	4	.	.	PUNCT
ftr-309	565	1	99	99	NUM
ftr-309	565	2	.	.	PUNCT
ftr-309	566	1	for	for	ADP
ftr-309	566	2	discussion	discussion	NOUN
ftr-309	566	3	of	of	ADP
ftr-309	566	4	the	the	DET
ftr-309	566	5	third	third	ADJ
ftr-309	566	6	requirement	requirement	NOUN
ftr-309	566	7	,	,	PUNCT
ftr-309	566	8	see	see	VERB
ftr-309	566	9	supra	supra	PROPN
ftr-309	566	10	note	note	NOUN
ftr-309	566	11	98	98	NUM
ftr-309	566	12	.	.	NOUN
ftr-309	566	13	100	100	NUM
ftr-309	566	14	.	.	PUNCT
ftr-309	567	1	see	see	VERB
ftr-309	567	2	supra	supra	PROPN
ftr-309	567	3	note	note	PROPN
ftr-309	567	4	96	96	NUM
ftr-309	567	5	.	.	PUNCT
ftr-309	568	1	101	101	NUM
ftr-309	568	2	.	.	PUNCT
ftr-309	568	3	regs	regs	PROPN
ftr-309	568	4	.	.	PUNCT
ftr-309	569	1	§	§	PROPN
ftr-309	569	2	1.704	1.704	NUM
ftr-309	569	3	-	-	PUNCT
ftr-309	569	4	l(b)(2)(iv)(b)(1	l(b)(2)(iv)(b)(1	NOUN
ftr-309	569	5	)	)	PUNCT
ftr-309	569	6	.	.	PUNCT
ftr-309	570	1	102	102	NUM
ftr-309	570	2	.	.	PUNCT
ftr-309	570	3	regs	regs	PROPN
ftr-309	570	4	.	.	PUNCT
ftr-309	571	1	§	§	PROPN
ftr-309	571	2	1.704	1.704	NUM
ftr-309	571	3	-	-	PUNCT
ftr-309	571	4	l(b)(2)(iv)(b)(2	l(b)(2)(iv)(b)(2	NOUN
ftr-309	571	5	)	)	PUNCT
ftr-309	571	6	.	.	PUNCT
ftr-309	572	1	103	103	NUM
ftr-309	572	2	.	.	PUNCT
ftr-309	572	3	regs	regs	PROPN
ftr-309	572	4	.	.	PUNCT
ftr-309	573	1	§	§	PROPN
ftr-309	573	2	1.704	1.704	NUM
ftr-309	573	3	-	-	PUNCT
ftr-309	573	4	l(b)(2)(iv)(b)(3	l(b)(2)(iv)(b)(3	NOUN
ftr-309	573	5	)	)	PUNCT
ftr-309	573	6	.	.	PUNCT
ftr-309	574	1	technically	technically	ADV
ftr-309	574	2	,	,	PUNCT
ftr-309	574	3	the	the	DET
ftr-309	574	4	regulations	regulation	NOUN
ftr-309	574	5	refer	refer	VERB
ftr-309	574	6	to	to	ADP
ftr-309	574	7	adjusting	adjust	VERB
ftr-309	574	8	capital	capital	NOUN
ftr-309	574	9	accounts	account	NOUN
ftr-309	574	10	by	by	ADP
ftr-309	574	11	"	"	PUNCT
ftr-309	574	12	income	income	NOUN
ftr-309	574	13	or	or	CCONJ
ftr-309	574	14	gain	gain	NOUN
ftr-309	574	15	"	"	PUNCT
ftr-309	574	16	which	which	PRON
ftr-309	574	17	means	mean	VERB
ftr-309	574	18	book	book	NOUN
ftr-309	574	19	income	income	NOUN
ftr-309	574	20	or	or	CCONJ
ftr-309	574	21	book	book	NOUN
ftr-309	574	22	gain	gain	NOUN
ftr-309	574	23	(	(	PUNCT
ftr-309	574	24	rather	rather	ADV
ftr-309	574	25	than	than	ADP
ftr-309	574	26	tax	tax	NOUN
ftr-309	574	27	income	income	NOUN
ftr-309	574	28	or	or	CCONJ
ftr-309	574	29	tax	tax	NOUN
ftr-309	574	30	gain	gain	NOUN
ftr-309	574	31	)	)	PUNCT
ftr-309	574	32	.	.	PUNCT
ftr-309	575	1	see	see	VERB
ftr-309	575	2	regs	reg	NOUN
ftr-309	575	3	.	.	PUNCT
ftr-309	576	1	§	§	PROPN
ftr-309	576	2	1.704	1.704	NUM
ftr-309	576	3	-	-	PUNCT
ftr-309	576	4	l(b)(2)(iv)(d)(3	l(b)(2)(iv)(d)(3	NOUN
ftr-309	576	5	)	)	PUNCT
ftr-309	576	6	.	.	PUNCT
ftr-309	577	1	however	however	ADV
ftr-309	577	2	,	,	PUNCT
ftr-309	577	3	as	as	ADV
ftr-309	577	4	long	long	ADV
ftr-309	577	5	as	as	SCONJ
ftr-309	577	6	the	the	DET
ftr-309	577	7	partnership	partnership	NOUN
ftr-309	577	8	recognizes	recognize	VERB
ftr-309	577	9	the	the	DET
ftr-309	577	10	same	same	ADJ
ftr-309	577	11	amount	amount	NOUN
ftr-309	577	12	of	of	ADP
ftr-309	577	13	tax	tax	NOUN
ftr-309	577	14	gain	gain	NOUN
ftr-309	577	15	as	as	ADP
ftr-309	577	16	book	book	NOUN
ftr-309	577	17	gain	gain	NOUN
ftr-309	577	18	with	with	ADP
ftr-309	577	19	respect	respect	NOUN
ftr-309	577	20	to	to	ADP
ftr-309	577	21	a	a	DET
ftr-309	577	22	transaction	transaction	NOUN
ftr-309	577	23	,	,	PUNCT
ftr-309	577	24	one	one	PRON
ftr-309	577	25	can	can	AUX
ftr-309	577	26	think	think	VERB
ftr-309	577	27	of	of	ADP
ftr-309	577	28	this	this	DET
ftr-309	577	29	adjustment	adjustment	NOUN
ftr-309	577	30	as	as	ADP
ftr-309	577	31	referring	refer	VERB
ftr-309	577	32	to	to	ADP
ftr-309	577	33	tax	tax	NOUN
ftr-309	577	34	gain	gain	NOUN
ftr-309	577	35	or	or	CCONJ
ftr-309	577	36	income	income	NOUN
ftr-309	577	37	because	because	SCONJ
ftr-309	577	38	tax	tax	NOUN
ftr-309	577	39	gain	gain	NOUN
ftr-309	577	40	or	or	CCONJ
ftr-309	577	41	income	income	NOUN
ftr-309	577	42	will	will	AUX
ftr-309	577	43	be	be	AUX
ftr-309	577	44	allocated	allocate	VERB
ftr-309	577	45	in	in	ADP
ftr-309	577	46	the	the	DET
ftr-309	577	47	same	same	ADJ
ftr-309	577	48	manner	manner	NOUN
ftr-309	577	49	as	as	ADP
ftr-309	577	50	book	book	NOUN
ftr-309	577	51	gain	gain	NOUN
ftr-309	577	52	or	or	CCONJ
ftr-309	577	53	income	income	NOUN
ftr-309	577	54	when	when	SCONJ
ftr-309	577	55	these	these	DET
ftr-309	577	56	items	item	NOUN
ftr-309	577	57	are	be	AUX
ftr-309	577	58	equal	equal	ADJ
ftr-309	577	59	.	.	PUNCT
ftr-309	578	1	i	i	PRON
ftr-309	578	2	d.	d.	PROPN
ftr-309	578	3	104	104	NUM
ftr-309	578	4	.	.	PUNCT
ftr-309	579	1	regs	regs	PROPN
ftr-309	579	2	.	.	PUNCT
ftr-309	580	1	§	§	PROPN
ftr-309	580	2	1.704	1.704	NUM
ftr-309	580	3	-	-	NUM
ftr-309	580	4	1(b)(2)(iv)(b)(4	1(b)(2)(iv)(b)(4	NUM
ftr-309	580	5	)	)	PUNCT
ftr-309	580	6	.	.	PUNCT
ftr-309	581	1	105	105	NUM
ftr-309	581	2	.	.	PUNCT
ftr-309	581	3	regs	regs	PROPN
ftr-309	581	4	.	.	PUNCT
ftr-309	582	1	§	§	PROPN
ftr-309	582	2	1.704	1.704	NUM
ftr-309	582	3	-	-	NUM
ftr-309	582	4	1(b)(2)(iv)(b)(5	1(b)(2)(iv)(b)(5	NUM
ftr-309	582	5	)	)	PUNCT
ftr-309	582	6	.	.	PUNCT
ftr-309	583	1	106	106	NUM
ftr-309	583	2	.	.	PUNCT
ftr-309	583	3	regs	regs	PROPN
ftr-309	583	4	.	.	PUNCT
ftr-309	584	1	§	§	PROPN
ftr-309	584	2	§	§	PROPN
ftr-309	584	3	1.704	1.704	NUM
ftr-309	584	4	-	-	NUM
ftr-309	584	5	1(b)(2)(iv)(b)(6)-(7	1(b)(2)(iv)(b)(6)-(7	NUM
ftr-309	584	6	)	)	PUNCT
ftr-309	584	7	.	.	PUNCT
ftr-309	585	1	technically	technically	ADV
ftr-309	585	2	,	,	PUNCT
ftr-309	585	3	the	the	DET
ftr-309	585	4	regulations	regulation	NOUN
ftr-309	585	5	refer	refer	VERB
ftr-309	585	6	to	to	ADP
ftr-309	585	7	adjusting	adjust	VERB
ftr-309	585	8	capital	capital	NOUN
ftr-309	585	9	accounts	account	NOUN
ftr-309	585	10	by	by	ADP
ftr-309	585	11	"	"	PUNCT
ftr-309	585	12	loss	loss	NOUN
ftr-309	585	13	and	and	CCONJ
ftr-309	585	14	deduction	deduction	NOUN
ftr-309	585	15	"	"	PUNCT
ftr-309	585	16	which	which	PRON
ftr-309	585	17	means	mean	VERB
ftr-309	585	18	book	book	NOUN
ftr-309	585	19	loss	loss	NOUN
ftr-309	585	20	or	or	CCONJ
ftr-309	585	21	book	book	NOUN
ftr-309	585	22	deduction	deduction	NOUN
ftr-309	585	23	(	(	PUNCT
ftr-309	585	24	rather	rather	ADV
ftr-309	585	25	than	than	ADP
ftr-309	585	26	tax	tax	NOUN
ftr-309	585	27	loss	loss	NOUN
ftr-309	585	28	or	or	CCONJ
ftr-309	585	29	tax	tax	NOUN
ftr-309	585	30	deduction	deduction	NOUN
ftr-309	585	31	)	)	PUNCT
ftr-309	585	32	.	.	PUNCT
ftr-309	586	1	see	see	VERB
ftr-309	586	2	regs	reg	NOUN
ftr-309	586	3	.	.	PUNCT
ftr-309	587	1	§	§	PROPN
ftr-309	587	2	1.7041	1.7041	NUM
ftr-309	587	3	(	(	PUNCT
ftr-309	587	4	b)(2)(iv)(d)(3	b)(2)(iv)(d)(3	NOUN
ftr-309	587	5	)	)	PUNCT
ftr-309	587	6	.	.	PUNCT
ftr-309	588	1	however	however	ADV
ftr-309	588	2	,	,	PUNCT
ftr-309	588	3	as	as	ADV
ftr-309	588	4	long	long	ADV
ftr-309	588	5	as	as	SCONJ
ftr-309	588	6	the	the	DET
ftr-309	588	7	partnership	partnership	NOUN
ftr-309	588	8	recognizes	recognize	VERB
ftr-309	588	9	the	the	DET
ftr-309	588	10	same	same	ADJ
ftr-309	588	11	amount	amount	NOUN
ftr-309	588	12	of	of	ADP
ftr-309	588	13	tax	tax	NOUN
ftr-309	588	14	loss	loss	NOUN
ftr-309	588	15	as	as	ADP
ftr-309	588	16	book	book	NOUN
ftr-309	588	17	loss	loss	NOUN
ftr-309	588	18	with	with	ADP
ftr-309	588	19	respect	respect	NOUN
ftr-309	588	20	to	to	ADP
ftr-309	588	21	a	a	DET
ftr-309	588	22	transaction	transaction	NOUN
ftr-309	588	23	,	,	PUNCT
ftr-309	588	24	one	one	PRON
ftr-309	588	25	can	can	AUX
ftr-309	588	26	think	think	VERB
ftr-309	588	27	of	of	ADP
ftr-309	588	28	this	this	DET
ftr-309	588	29	adjustment	adjustment	NOUN
ftr-309	588	30	as	as	ADP
ftr-309	588	31	referring	refer	VERB
ftr-309	588	32	to	to	ADP
ftr-309	588	33	tax	tax	NOUN
ftr-309	588	34	loss	loss	NOUN
ftr-309	588	35	or	or	CCONJ
ftr-309	588	36	deduction	deduction	NOUN
ftr-309	588	37	because	because	SCONJ
ftr-309	588	38	tax	tax	NOUN
ftr-309	588	39	loss	loss	NOUN
ftr-309	588	40	or	or	CCONJ
ftr-309	588	41	deduction	deduction	NOUN
ftr-309	588	42	will	will	AUX
ftr-309	588	43	be	be	AUX
ftr-309	588	44	allocated	allocate	VERB
ftr-309	588	45	in	in	ADP
ftr-309	588	46	the	the	DET
ftr-309	588	47	same	same	ADJ
ftr-309	588	48	manner	manner	NOUN
ftr-309	588	49	as	as	ADP
ftr-309	588	50	book	book	NOUN
ftr-309	588	51	loss	loss	NOUN
ftr-309	588	52	or	or	CCONJ
ftr-309	588	53	deduction	deduction	NOUN
ftr-309	588	54	when	when	SCONJ
ftr-309	588	55	these	these	DET
ftr-309	588	56	items	item	NOUN
ftr-309	588	57	are	be	AUX
ftr-309	588	58	equal	equal	ADJ
ftr-309	588	59	.	.	PUNCT
ftr-309	589	1	i	i	PRON
ftr-309	589	2	d.	d.	NOUN
ftr-309	589	3	176	176	NUM
ftr-309	590	1	[	[	X
ftr-309	590	2	vol	vol	NOUN
ftr-309	590	3	.	.	PUNCT
ftr-309	591	1	14:5	14:5	NUM
ftr-309	591	2	2013	2013	NUM
ftr-309	591	3	]	]	PUNCT
ftr-309	591	4	was	be	AUX
ftr-309	591	5	blackstone	blackstone	NOUN
ftr-309	591	6	's	's	PART
ftr-309	591	7	initial	initial	ADJ
ftr-309	591	8	public	public	ADJ
ftr-309	591	9	offering	offering	NOUN
ftr-309	591	10	too	too	ADV
ftr-309	591	11	good	good	ADJ
ftr-309	591	12	to	to	PART
ftr-309	591	13	be	be	AUX
ftr-309	591	14	true	true	ADJ
ftr-309	591	15	?	?	PUNCT
ftr-309	592	1	(	(	PUNCT
ftr-309	592	2	ii	ii	NOUN
ftr-309	592	3	)	)	PUNCT
ftr-309	592	4	liquidating	liquidating	NOUN
ftr-309	592	5	based	base	VERB
ftr-309	592	6	on	on	ADP
ftr-309	592	7	capital	capital	NOUN
ftr-309	592	8	account	account	NOUN
ftr-309	592	9	balances	balance	NOUN
ftr-309	592	10	in	in	ADP
ftr-309	592	11	order	order	NOUN
ftr-309	592	12	to	to	PART
ftr-309	592	13	comply	comply	VERB
ftr-309	592	14	with	with	ADP
ftr-309	592	15	the	the	DET
ftr-309	592	16	liquidation	liquidation	NOUN
ftr-309	592	17	requirement	requirement	NOUN
ftr-309	592	18	,	,	PUNCT
ftr-309	592	19	the	the	DET
ftr-309	592	20	partnership	partnership	NOUN
ftr-309	592	21	,	,	PUNCT
ftr-309	592	22	upon	upon	SCONJ
ftr-309	592	23	liquidation	liquidation	NOUN
ftr-309	592	24	,	,	PUNCT
ftr-309	592	25	must	must	AUX
ftr-309	592	26	distribute	distribute	VERB
ftr-309	592	27	cash	cash	NOUN
ftr-309	592	28	to	to	ADP
ftr-309	592	29	the	the	DET
ftr-309	592	30	partners	partner	NOUN
ftr-309	592	31	proportionately	proportionately	ADV
ftr-309	592	32	based	base	VERB
ftr-309	592	33	on	on	ADP
ftr-309	592	34	the	the	DET
ftr-309	592	35	positive	positive	ADJ
ftr-309	592	36	balances	balance	NOUN
ftr-309	592	37	in	in	ADP
ftr-309	592	38	their	their	PRON
ftr-309	592	39	capital	capital	NOUN
ftr-309	592	40	accounts.o	accounts.o	NOUN
ftr-309	593	1	thus	thus	ADV
ftr-309	593	2	,	,	PUNCT
ftr-309	593	3	in	in	ADP
ftr-309	593	4	example	example	NOUN
ftr-309	593	5	2	2	NUM
ftr-309	593	6	above	above	ADP
ftr-309	593	7	,	,	PUNCT
ftr-309	593	8	when	when	SCONJ
ftr-309	593	9	the	the	DET
ftr-309	593	10	partnership	partnership	NOUN
ftr-309	593	11	distributes	distribute	VERB
ftr-309	593	12	$	$	SYM
ftr-309	593	13	300	300	NUM
ftr-309	593	14	cash	cash	NOUN
ftr-309	593	15	to	to	ADP
ftr-309	593	16	the	the	DET
ftr-309	593	17	partners	partner	NOUN
ftr-309	593	18	in	in	ADP
ftr-309	593	19	liquidation	liquidation	NOUN
ftr-309	593	20	,	,	PUNCT
ftr-309	593	21	it	it	PRON
ftr-309	593	22	must	must	AUX
ftr-309	593	23	distribute	distribute	VERB
ftr-309	593	24	$	$	SYM
ftr-309	593	25	200	200	NUM
ftr-309	593	26	to	to	ADP
ftr-309	593	27	leslie	leslie	PROPN
ftr-309	593	28	(	(	PUNCT
ftr-309	593	29	who	who	PRON
ftr-309	593	30	has	have	VERB
ftr-309	593	31	a	a	DET
ftr-309	593	32	$	$	SYM
ftr-309	593	33	200	200	NUM
ftr-309	593	34	capital	capital	NOUN
ftr-309	593	35	account	account	NOUN
ftr-309	593	36	balance	balance	NOUN
ftr-309	593	37	)	)	PUNCT
ftr-309	593	38	and	and	CCONJ
ftr-309	593	39	$	$	SYM
ftr-309	593	40	100	100	NUM
ftr-309	593	41	to	to	ADP
ftr-309	593	42	tom	tom	PROPN
ftr-309	593	43	.	.	PUNCT
ftr-309	594	1	consequently	consequently	ADV
ftr-309	594	2	,	,	PUNCT
ftr-309	594	3	because	because	SCONJ
ftr-309	594	4	leslie	leslie	PROPN
ftr-309	594	5	was	be	AUX
ftr-309	594	6	allocated	allocate	VERB
ftr-309	594	7	the	the	DET
ftr-309	594	8	entire	entire	ADJ
ftr-309	594	9	$	$	SYM
ftr-309	594	10	100	100	NUM
ftr-309	594	11	tax	tax	NOUN
ftr-309	594	12	gain	gain	NOUN
ftr-309	594	13	from	from	ADP
ftr-309	594	14	sale	sale	NOUN
ftr-309	594	15	of	of	ADP
ftr-309	594	16	the	the	DET
ftr-309	594	17	land	land	NOUN
ftr-309	594	18	,	,	PUNCT
ftr-309	594	19	leslie	leslie	PROPN
ftr-309	594	20	also	also	ADV
ftr-309	594	21	benefits	benefit	VERB
ftr-309	594	22	from	from	ADP
ftr-309	594	23	the	the	DET
ftr-309	594	24	entire	entire	ADJ
ftr-309	594	25	$	$	SYM
ftr-309	594	26	100	100	NUM
ftr-309	594	27	economic	economic	ADJ
ftr-309	594	28	gain	gain	NOUN
ftr-309	594	29	from	from	ADP
ftr-309	594	30	sale	sale	NOUN
ftr-309	594	31	of	of	ADP
ftr-309	594	32	the	the	DET
ftr-309	594	33	land	land	NOUN
ftr-309	594	34	,	,	PUNCT
ftr-309	594	35	as	as	SCONJ
ftr-309	594	36	she	she	PRON
ftr-309	594	37	receives	receive	VERB
ftr-309	594	38	$	$	SYM
ftr-309	594	39	100	100	NUM
ftr-309	594	40	more	more	ADJ
ftr-309	594	41	cash	cash	NOUN
ftr-309	594	42	than	than	ADP
ftr-309	594	43	what	what	PRON
ftr-309	594	44	she	she	PRON
ftr-309	594	45	contributed	contribute	VERB
ftr-309	594	46	.	.	PUNCT
ftr-309	595	1	assume	assume	VERB
ftr-309	595	2	,	,	PUNCT
ftr-309	595	3	instead	instead	ADV
ftr-309	595	4	,	,	PUNCT
ftr-309	595	5	the	the	DET
ftr-309	595	6	partnership	partnership	NOUN
ftr-309	595	7	intended	intend	VERB
ftr-309	595	8	to	to	PART
ftr-309	595	9	distribute	distribute	VERB
ftr-309	595	10	the	the	DET
ftr-309	595	11	cash	cash	NOUN
ftr-309	595	12	equally	equally	ADV
ftr-309	595	13	to	to	ADP
ftr-309	595	14	the	the	DET
ftr-309	595	15	partners	partner	NOUN
ftr-309	595	16	(	(	PUNCT
ftr-309	595	17	$	$	SYM
ftr-309	595	18	150	150	NUM
ftr-309	595	19	to	to	ADP
ftr-309	595	20	each	each	DET
ftr-309	595	21	partner	partner	NOUN
ftr-309	595	22	)	)	PUNCT
ftr-309	595	23	on	on	ADP
ftr-309	595	24	liquidation	liquidation	NOUN
ftr-309	595	25	.	.	PUNCT
ftr-309	596	1	in	in	ADP
ftr-309	596	2	that	that	DET
ftr-309	596	3	case	case	NOUN
ftr-309	596	4	,	,	PUNCT
ftr-309	596	5	in	in	ADP
ftr-309	596	6	order	order	NOUN
ftr-309	596	7	for	for	SCONJ
ftr-309	596	8	the	the	DET
ftr-309	596	9	tax	tax	NOUN
ftr-309	596	10	allocations	allocation	NOUN
ftr-309	596	11	to	to	PART
ftr-309	596	12	have	have	VERB
ftr-309	596	13	economic	economic	ADJ
ftr-309	596	14	effect	effect	NOUN
ftr-309	596	15	and	and	CCONJ
ftr-309	596	16	be	be	AUX
ftr-309	596	17	respected	respect	VERB
ftr-309	596	18	,	,	PUNCT
ftr-309	596	19	the	the	DET
ftr-309	596	20	partnership	partnership	NOUN
ftr-309	596	21	would	would	AUX
ftr-309	596	22	have	have	VERB
ftr-309	596	23	to	to	PART
ftr-309	596	24	allocate	allocate	VERB
ftr-309	596	25	the	the	DET
ftr-309	596	26	tax	tax	NOUN
ftr-309	596	27	gain	gain	NOUN
ftr-309	596	28	from	from	ADP
ftr-309	596	29	sale	sale	NOUN
ftr-309	596	30	of	of	ADP
ftr-309	596	31	the	the	DET
ftr-309	596	32	land	land	NOUN
ftr-309	596	33	equally	equally	ADV
ftr-309	596	34	among	among	ADP
ftr-309	596	35	the	the	DET
ftr-309	596	36	partners	partner	NOUN
ftr-309	596	37	(	(	PUNCT
ftr-309	596	38	$	$	SYM
ftr-309	596	39	50	50	NUM
ftr-309	596	40	to	to	ADP
ftr-309	596	41	each	each	DET
ftr-309	596	42	partner	partner	NOUN
ftr-309	596	43	)	)	PUNCT
ftr-309	596	44	.	.	PUNCT
ftr-309	597	1	as	as	ADP
ftr-309	597	2	a	a	DET
ftr-309	597	3	result	result	NOUN
ftr-309	597	4	of	of	ADP
ftr-309	597	5	this	this	DET
ftr-309	597	6	allocation	allocation	NOUN
ftr-309	597	7	,	,	PUNCT
ftr-309	597	8	each	each	DET
ftr-309	597	9	partner	partner	NOUN
ftr-309	597	10	's	's	PART
ftr-309	597	11	capital	capital	NOUN
ftr-309	597	12	account	account	NOUN
ftr-309	597	13	just	just	ADV
ftr-309	597	14	prior	prior	ADV
ftr-309	597	15	to	to	ADP
ftr-309	597	16	liquidation	liquidation	NOUN
ftr-309	597	17	would	would	AUX
ftr-309	597	18	be	be	AUX
ftr-309	597	19	$	$	SYM
ftr-309	597	20	150	150	NUM
ftr-309	597	21	(	(	PUNCT
ftr-309	597	22	$	$	SYM
ftr-309	597	23	100	100	NUM
ftr-309	597	24	cash	cash	NOUN
ftr-309	597	25	contributed	contribute	VERB
ftr-309	597	26	plus	plus	CCONJ
ftr-309	597	27	$	$	SYM
ftr-309	597	28	50	50	NUM
ftr-309	597	29	tax	tax	NOUN
ftr-309	597	30	gain	gain	NOUN
ftr-309	597	31	allocation	allocation	NOUN
ftr-309	597	32	)	)	PUNCT
ftr-309	597	33	,	,	PUNCT
ftr-309	597	34	and	and	CCONJ
ftr-309	597	35	,	,	PUNCT
ftr-309	597	36	if	if	SCONJ
ftr-309	597	37	the	the	DET
ftr-309	597	38	partnership	partnership	NOUN
ftr-309	597	39	distributes	distribute	VERB
ftr-309	597	40	$	$	SYM
ftr-309	597	41	150	150	NUM
ftr-309	597	42	cash	cash	NOUN
ftr-309	597	43	to	to	ADP
ftr-309	597	44	each	each	DET
ftr-309	597	45	partner	partner	NOUN
ftr-309	597	46	,	,	PUNCT
ftr-309	597	47	the	the	DET
ftr-309	597	48	partnership	partnership	NOUN
ftr-309	597	49	will	will	AUX
ftr-309	597	50	comply	comply	VERB
ftr-309	597	51	with	with	ADP
ftr-309	597	52	the	the	DET
ftr-309	597	53	requirement	requirement	NOUN
ftr-309	597	54	of	of	ADP
ftr-309	597	55	liquidating	liquidating	NOUN
ftr-309	597	56	based	base	VERB
ftr-309	597	57	on	on	ADP
ftr-309	597	58	capital	capital	NOUN
ftr-309	597	59	account	account	NOUN
ftr-309	597	60	balances	balance	NOUN
ftr-309	597	61	.	.	PUNCT
ftr-309	598	1	what	what	PRON
ftr-309	598	2	the	the	DET
ftr-309	598	3	partnership	partnership	NOUN
ftr-309	598	4	can	can	AUX
ftr-309	598	5	not	not	PART
ftr-309	598	6	do	do	AUX
ftr-309	598	7	is	be	AUX
ftr-309	598	8	allocate	allocate	VERB
ftr-309	598	9	all	all	DET
ftr-309	598	10	tax	tax	NOUN
ftr-309	598	11	gain	gain	NOUN
ftr-309	598	12	(	(	PUNCT
ftr-309	598	13	$	$	SYM
ftr-309	598	14	100	100	NUM
ftr-309	598	15	)	)	PUNCT
ftr-309	598	16	to	to	ADP
ftr-309	598	17	leslie	leslie	PROPN
ftr-309	598	18	(	(	PUNCT
ftr-309	598	19	bringing	bring	VERB
ftr-309	598	20	capital	capital	NOUN
ftr-309	598	21	account	account	NOUN
ftr-309	598	22	balances	balance	NOUN
ftr-309	598	23	to	to	ADP
ftr-309	598	24	$	$	SYM
ftr-309	598	25	200	200	NUM
ftr-309	598	26	for	for	ADP
ftr-309	598	27	leslie	leslie	PROPN
ftr-309	598	28	and	and	CCONJ
ftr-309	598	29	$	$	SYM
ftr-309	598	30	100	100	NUM
ftr-309	598	31	for	for	ADP
ftr-309	598	32	tom	tom	PROPN
ftr-309	598	33	)	)	PUNCT
ftr-309	598	34	but	but	CCONJ
ftr-309	598	35	distribute	distribute	VERB
ftr-309	598	36	the	the	DET
ftr-309	598	37	$	$	SYM
ftr-309	598	38	300	300	NUM
ftr-309	598	39	cash	cash	NOUN
ftr-309	598	40	equally	equally	ADV
ftr-309	598	41	among	among	ADP
ftr-309	598	42	the	the	DET
ftr-309	598	43	partners	partner	NOUN
ftr-309	598	44	(	(	PUNCT
ftr-309	598	45	$	$	SYM
ftr-309	598	46	150	150	NUM
ftr-309	598	47	to	to	ADP
ftr-309	598	48	each	each	DET
ftr-309	598	49	partner	partner	NOUN
ftr-309	598	50	)	)	PUNCT
ftr-309	598	51	.	.	PUNCT
ftr-309	599	1	more	more	ADV
ftr-309	599	2	generally	generally	ADV
ftr-309	599	3	,	,	PUNCT
ftr-309	599	4	the	the	DET
ftr-309	599	5	requirements	requirement	NOUN
ftr-309	599	6	of	of	ADP
ftr-309	599	7	the	the	DET
ftr-309	599	8	alternate	alternate	ADJ
ftr-309	599	9	test	test	NOUN
ftr-309	599	10	for	for	ADP
ftr-309	599	11	economic	economic	ADJ
ftr-309	599	12	effect	effect	NOUN
ftr-309	599	13	help	help	NOUN
ftr-309	599	14	to	to	PART
ftr-309	599	15	ensure	ensure	VERB
ftr-309	599	16	that	that	SCONJ
ftr-309	599	17	net	net	ADJ
ftr-309	599	18	tax	tax	NOUN
ftr-309	599	19	items	item	NOUN
ftr-309	599	20	allocated	allocate	VERB
ftr-309	599	21	to	to	ADP
ftr-309	599	22	a	a	DET
ftr-309	599	23	partner	partner	NOUN
ftr-309	599	24	over	over	ADP
ftr-309	599	25	the	the	DET
ftr-309	599	26	life	life	NOUN
ftr-309	599	27	of	of	ADP
ftr-309	599	28	the	the	DET
ftr-309	599	29	partnership	partnership	NOUN
ftr-309	599	30	will	will	AUX
ftr-309	599	31	correspond	correspond	VERB
ftr-309	599	32	to	to	ADP
ftr-309	599	33	the	the	DET
ftr-309	599	34	net	net	ADJ
ftr-309	599	35	economic	economic	ADJ
ftr-309	599	36	gain	gain	NOUN
ftr-309	599	37	or	or	CCONJ
ftr-309	599	38	loss	loss	NOUN
ftr-309	599	39	realized	realize	VERB
ftr-309	599	40	by	by	ADP
ftr-309	599	41	that	that	DET
ftr-309	599	42	partner	partner	NOUN
ftr-309	599	43	over	over	ADP
ftr-309	599	44	the	the	DET
ftr-309	599	45	life	life	NOUN
ftr-309	599	46	of	of	ADP
ftr-309	599	47	the	the	DET
ftr-309	599	48	partnership.108	partnership.108	NOUN
ftr-309	599	49	if	if	SCONJ
ftr-309	599	50	a	a	DET
ftr-309	599	51	partnership	partnership	NOUN
ftr-309	599	52	allocates	allocate	VERB
ftr-309	599	53	more	more	ADJ
ftr-309	599	54	tax	tax	NOUN
ftr-309	599	55	gain	gain	NOUN
ftr-309	599	56	to	to	ADP
ftr-309	599	57	a	a	DET
ftr-309	599	58	partner	partner	NOUN
ftr-309	599	59	,	,	PUNCT
ftr-309	599	60	his	his	PRON
ftr-309	599	61	or	or	CCONJ
ftr-309	599	62	her	her	PRON
ftr-309	599	63	capital	capital	NOUN
ftr-309	599	64	account	account	NOUN
ftr-309	599	65	increases	increase	NOUN
ftr-309	599	66	,	,	PUNCT
ftr-309	599	67	meaning	mean	VERB
ftr-309	599	68	that	that	SCONJ
ftr-309	599	69	partner	partner	NOUN
ftr-309	599	70	will	will	AUX
ftr-309	599	71	receive	receive	VERB
ftr-309	599	72	more	more	ADJ
ftr-309	599	73	cash	cash	NOUN
ftr-309	599	74	on	on	ADP
ftr-309	599	75	liquidation	liquidation	NOUN
ftr-309	599	76	of	of	ADP
ftr-309	599	77	the	the	DET
ftr-309	599	78	partnership	partnership	NOUN
ftr-309	599	79	if	if	SCONJ
ftr-309	599	80	not	not	PART
ftr-309	599	81	before	before	ADV
ftr-309	599	82	.	.	PUNCT
ftr-309	600	1	if	if	SCONJ
ftr-309	600	2	a	a	DET
ftr-309	600	3	partnership	partnership	NOUN
ftr-309	600	4	allocates	allocate	VERB
ftr-309	600	5	more	more	ADJ
ftr-309	600	6	tax	tax	NOUN
ftr-309	600	7	loss	loss	NOUN
ftr-309	600	8	to	to	ADP
ftr-309	600	9	a	a	DET
ftr-309	600	10	partner	partner	NOUN
ftr-309	600	11	,	,	PUNCT
ftr-309	600	12	his	his	PRON
ftr-309	600	13	or	or	CCONJ
ftr-309	600	14	her	her	PRON
ftr-309	600	15	capital	capital	NOUN
ftr-309	600	16	account	account	NOUN
ftr-309	600	17	decreases	decrease	VERB
ftr-309	600	18	,	,	PUNCT
ftr-309	600	19	meaning	mean	VERB
ftr-309	600	20	that	that	SCONJ
ftr-309	600	21	partner	partner	NOUN
ftr-309	600	22	will	will	AUX
ftr-309	600	23	receive	receive	VERB
ftr-309	600	24	less	less	ADJ
ftr-309	600	25	cash	cash	NOUN
ftr-309	600	26	on	on	ADP
ftr-309	600	27	liquidation	liquidation	NOUN
ftr-309	600	28	of	of	ADP
ftr-309	600	29	the	the	DET
ftr-309	600	30	partnership	partnership	NOUN
ftr-309	600	31	.	.	PUNCT
ftr-309	601	1	2	2	X
ftr-309	601	2	.	.	X
ftr-309	601	3	economic	economic	ADJ
ftr-309	601	4	effect	effect	NOUN
ftr-309	601	5	:	:	PUNCT
ftr-309	601	6	the	the	DET
ftr-309	601	7	implicit	implicit	ADJ
ftr-309	601	8	assumption	assumption	NOUN
ftr-309	601	9	:	:	PUNCT
ftr-309	601	10	unrelated	unrelated	ADJ
ftr-309	601	11	partners	partner	NOUN
ftr-309	601	12	ensuring	ensure	VERB
ftr-309	601	13	that	that	SCONJ
ftr-309	601	14	tax	tax	NOUN
ftr-309	601	15	allocations	allocation	NOUN
ftr-309	601	16	correspond	correspond	VERB
ftr-309	601	17	to	to	ADP
ftr-309	601	18	economic	economic	ADJ
ftr-309	601	19	gains	gain	NOUN
ftr-309	601	20	and	and	CCONJ
ftr-309	601	21	losses	loss	NOUN
ftr-309	601	22	might	might	AUX
ftr-309	601	23	deter	deter	VERB
ftr-309	601	24	tax	tax	NOUN
ftr-309	601	25	-	-	PUNCT
ftr-309	601	26	motivated	motivate	VERB
ftr-309	601	27	allocations	allocation	NOUN
ftr-309	601	28	among	among	ADP
ftr-309	601	29	unrelated	unrelated	ADJ
ftr-309	601	30	partners	partner	NOUN
ftr-309	601	31	but	but	CCONJ
ftr-309	601	32	does	do	VERB
ftr-309	601	33	nothing	nothing	PRON
ftr-309	601	34	to	to	PART
ftr-309	601	35	prevent	prevent	VERB
ftr-309	601	36	related	related	ADJ
ftr-309	601	37	partners	partner	NOUN
ftr-309	601	38	from	from	ADP
ftr-309	601	39	allocating	allocate	VERB
ftr-309	601	40	items	item	NOUN
ftr-309	601	41	in	in	ADP
ftr-309	601	42	a	a	DET
ftr-309	601	43	manner	manner	NOUN
ftr-309	601	44	107	107	NUM
ftr-309	601	45	.	.	PUNCT
ftr-309	602	1	see	see	VERB
ftr-309	602	2	supra	supra	PROPN
ftr-309	602	3	note	note	PROPN
ftr-309	602	4	97	97	NUM
ftr-309	602	5	.	.	NOUN
ftr-309	602	6	108	108	NUM
ftr-309	602	7	.	.	PUNCT
ftr-309	603	1	see	see	VERB
ftr-309	603	2	supra	supra	PROPN
ftr-309	603	3	note	note	PROPN
ftr-309	603	4	82	82	NUM
ftr-309	603	5	.	.	NOUN
ftr-309	603	6	177	177	NUM
ftr-309	603	7	florida	florida	PROPN
ftr-309	603	8	tax	tax	NOUN
ftr-309	603	9	review	review	NOUN
ftr-309	603	10	designed	design	VERB
ftr-309	603	11	solely	solely	ADV
ftr-309	603	12	to	to	PART
ftr-309	603	13	reduce	reduce	VERB
ftr-309	603	14	tax	tax	NOUN
ftr-309	603	15	liability.109	liability.109	VERB
ftr-309	603	16	to	to	PART
ftr-309	603	17	demonstrate	demonstrate	VERB
ftr-309	603	18	,	,	PUNCT
ftr-309	603	19	consider	consider	VERB
ftr-309	603	20	again	again	ADV
ftr-309	603	21	the	the	DET
ftr-309	603	22	facts	fact	NOUN
ftr-309	603	23	of	of	ADP
ftr-309	603	24	example	example	NOUN
ftr-309	604	1	2	2	NUM
ftr-309	604	2	.	.	PUNCT
ftr-309	605	1	if	if	SCONJ
ftr-309	605	2	the	the	DET
ftr-309	605	3	partnership	partnership	NOUN
ftr-309	605	4	complies	comply	VERB
ftr-309	605	5	with	with	ADP
ftr-309	605	6	the	the	DET
ftr-309	605	7	economic	economic	ADJ
ftr-309	605	8	effect	effect	NOUN
ftr-309	605	9	requirement	requirement	NOUN
ftr-309	605	10	,	,	PUNCT
ftr-309	605	11	the	the	DET
ftr-309	605	12	partnership	partnership	NOUN
ftr-309	605	13	can	can	AUX
ftr-309	605	14	allocate	allocate	VERB
ftr-309	605	15	$	$	SYM
ftr-309	605	16	50	50	NUM
ftr-309	605	17	less	less	ADJ
ftr-309	605	18	tax	tax	NOUN
ftr-309	605	19	gain	gain	NOUN
ftr-309	605	20	to	to	ADP
ftr-309	605	21	tom	tom	PROPN
ftr-309	605	22	(	(	PUNCT
ftr-309	605	23	saving	save	VERB
ftr-309	605	24	him	he	PRON
ftr-309	605	25	$	$	SYM
ftr-309	605	26	25	25	NUM
ftr-309	605	27	in	in	ADP
ftr-309	605	28	taxes	taxis	NOUN
ftr-309	605	29	)	)	PUNCT
ftr-309	605	30	only	only	ADV
ftr-309	605	31	if	if	SCONJ
ftr-309	605	32	the	the	DET
ftr-309	605	33	partners	partner	NOUN
ftr-309	605	34	agree	agree	VERB
ftr-309	605	35	that	that	SCONJ
ftr-309	605	36	tom	tom	PROPN
ftr-309	605	37	will	will	AUX
ftr-309	605	38	receive	receive	VERB
ftr-309	605	39	$	$	SYM
ftr-309	605	40	50	50	NUM
ftr-309	605	41	less	less	ADJ
ftr-309	605	42	cash	cash	NOUN
ftr-309	605	43	.	.	PUNCT
ftr-309	606	1	losing	lose	VERB
ftr-309	606	2	$	$	SYM
ftr-309	606	3	50	50	NUM
ftr-309	606	4	cash	cash	NOUN
ftr-309	606	5	will	will	AUX
ftr-309	606	6	deter	deter	VERB
ftr-309	606	7	tom	tom	PROPN
ftr-309	606	8	from	from	ADP
ftr-309	606	9	agreeing	agree	VERB
ftr-309	606	10	to	to	ADP
ftr-309	606	11	the	the	DET
ftr-309	606	12	allocations	allocation	NOUN
ftr-309	606	13	for	for	ADP
ftr-309	606	14	the	the	DET
ftr-309	606	15	sole	sole	ADJ
ftr-309	606	16	purpose	purpose	NOUN
ftr-309	606	17	of	of	ADP
ftr-309	606	18	saving	save	VERB
ftr-309	606	19	$	$	SYM
ftr-309	606	20	25	25	NUM
ftr-309	606	21	in	in	ADP
ftr-309	606	22	taxes	taxis	NOUN
ftr-309	606	23	if	if	SCONJ
ftr-309	606	24	the	the	DET
ftr-309	606	25	$	$	SYM
ftr-309	606	26	50	50	NUM
ftr-309	606	27	cash	cash	NOUN
ftr-309	606	28	lost	lose	VERB
ftr-309	606	29	by	by	ADP
ftr-309	606	30	tom	tom	PROPN
ftr-309	606	31	benefits	benefit	VERB
ftr-309	606	32	an	an	DET
ftr-309	606	33	unrelated	unrelated	ADJ
ftr-309	606	34	partner	partner	NOUN
ftr-309	606	35	.	.	PUNCT
ftr-309	607	1	if	if	SCONJ
ftr-309	607	2	,	,	PUNCT
ftr-309	607	3	however	however	ADV
ftr-309	607	4	,	,	PUNCT
ftr-309	607	5	the	the	DET
ftr-309	607	6	partner	partner	NOUN
ftr-309	607	7	who	who	PRON
ftr-309	607	8	receives	receive	VERB
ftr-309	607	9	$	$	SYM
ftr-309	607	10	50	50	NUM
ftr-309	607	11	cash	cash	NOUN
ftr-309	607	12	is	be	AUX
ftr-309	607	13	closely	closely	ADV
ftr-309	607	14	related	relate	VERB
ftr-309	607	15	to	to	ADP
ftr-309	607	16	tom	tom	PROPN
ftr-309	607	17	,	,	PUNCT
ftr-309	607	18	he	he	PRON
ftr-309	607	19	may	may	AUX
ftr-309	607	20	readily	readily	ADV
ftr-309	607	21	agree	agree	VERB
ftr-309	607	22	to	to	ADP
ftr-309	607	23	the	the	DET
ftr-309	607	24	allocations	allocation	NOUN
ftr-309	607	25	for	for	ADP
ftr-309	607	26	the	the	DET
ftr-309	607	27	exclusive	exclusive	ADJ
ftr-309	607	28	purpose	purpose	NOUN
ftr-309	607	29	of	of	ADP
ftr-309	607	30	reducing	reduce	VERB
ftr-309	607	31	his	his	PRON
ftr-309	607	32	tax	tax	NOUN
ftr-309	607	33	liability	liability	NOUN
ftr-309	607	34	.	.	PUNCT
ftr-309	608	1	3	3	X
ftr-309	608	2	.	.	X
ftr-309	608	3	substantiality	substantiality	NOUN
ftr-309	608	4	:	:	PUNCT
ftr-309	608	5	the	the	DET
ftr-309	608	6	rules	rule	NOUN
ftr-309	608	7	in	in	ADP
ftr-309	608	8	order	order	NOUN
ftr-309	608	9	for	for	SCONJ
ftr-309	608	10	allocations	allocation	NOUN
ftr-309	608	11	to	to	PART
ftr-309	608	12	be	be	AUX
ftr-309	608	13	respected	respect	VERB
ftr-309	608	14	under	under	ADP
ftr-309	608	15	the	the	DET
ftr-309	608	16	substantial	substantial	ADJ
ftr-309	608	17	economic	economic	ADJ
ftr-309	608	18	effect	effect	NOUN
ftr-309	608	19	test	test	NOUN
ftr-309	608	20	,	,	PUNCT
ftr-309	608	21	the	the	DET
ftr-309	608	22	allocations	allocation	NOUN
ftr-309	608	23	must	must	AUX
ftr-309	608	24	have	have	VERB
ftr-309	608	25	economic	economic	ADJ
ftr-309	608	26	effect	effect	NOUN
ftr-309	608	27	(	(	PUNCT
ftr-309	608	28	which	which	PRON
ftr-309	608	29	will	will	AUX
ftr-309	608	30	be	be	AUX
ftr-309	608	31	true	true	ADJ
ftr-309	608	32	if	if	SCONJ
ftr-309	608	33	the	the	DET
ftr-309	608	34	allocations	allocation	NOUN
ftr-309	608	35	meet	meet	VERB
ftr-309	608	36	the	the	DET
ftr-309	608	37	alternate	alternate	ADJ
ftr-309	608	38	test	test	NOUN
ftr-309	608	39	for	for	ADP
ftr-309	608	40	economic	economic	ADJ
ftr-309	608	41	effect	effect	NOUN
ftr-309	608	42	described	describe	VERB
ftr-309	608	43	above	above	ADP
ftr-309	608	44	)	)	PUNCT
ftr-309	608	45	,	,	PUNCT
ftr-309	608	46	and	and	CCONJ
ftr-309	608	47	the	the	DET
ftr-309	608	48	allocations	allocation	NOUN
ftr-309	608	49	must	must	AUX
ftr-309	608	50	comply	comply	VERB
ftr-309	608	51	with	with	ADP
ftr-309	608	52	the	the	DET
ftr-309	608	53	substantiality	substantiality	NOUN
ftr-309	608	54	requirement	requirement	NOUN
ftr-309	608	55	.	.	PUNCT
ftr-309	609	1	this	this	DET
ftr-309	609	2	substantiality	substantiality	NOUN
ftr-309	609	3	requirement	requirement	NOUN
ftr-309	609	4	exists	exist	VERB
ftr-309	609	5	because	because	SCONJ
ftr-309	609	6	the	the	DET
ftr-309	609	7	alternate	alternate	ADJ
ftr-309	609	8	test	test	NOUN
ftr-309	609	9	for	for	ADP
ftr-309	609	10	economic	economic	ADJ
ftr-309	609	11	effect	effect	NOUN
ftr-309	609	12	alone	alone	ADV
ftr-309	609	13	does	do	AUX
ftr-309	609	14	not	not	PART
ftr-309	609	15	prevent	prevent	VERB
ftr-309	609	16	many	many	ADJ
ftr-309	609	17	potential	potential	ADJ
ftr-309	609	18	tax	tax	NOUN
ftr-309	609	19	-	-	PUNCT
ftr-309	609	20	motivated	motivate	VERB
ftr-309	609	21	allocation	allocation	NOUN
ftr-309	609	22	schemes	scheme	NOUN
ftr-309	609	23	,	,	PUNCT
ftr-309	609	24	even	even	ADV
ftr-309	609	25	in	in	ADP
ftr-309	609	26	partnerships	partnership	NOUN
ftr-309	609	27	with	with	ADP
ftr-309	609	28	unrelated	unrelated	ADJ
ftr-309	609	29	partners	partner	NOUN
ftr-309	609	30	.	.	PUNCT
ftr-309	610	1	"10	"10	PROPN
ftr-309	610	2	in	in	ADP
ftr-309	610	3	order	order	NOUN
ftr-309	610	4	to	to	PART
ftr-309	610	5	demonstrate	demonstrate	VERB
ftr-309	610	6	,	,	PUNCT
ftr-309	610	7	consider	consider	VERB
ftr-309	610	8	the	the	DET
ftr-309	610	9	following	follow	VERB
ftr-309	610	10	example	example	NOUN
ftr-309	610	11	.	.	PUNCT
ftr-309	611	1	example	example	NOUN
ftr-309	612	1	3	3	NUM
ftr-309	612	2	.	.	NOUN
ftr-309	612	3	two	two	NUM
ftr-309	612	4	individuals	individual	NOUN
ftr-309	612	5	,	,	PUNCT
ftr-309	612	6	ron	ron	PROPN
ftr-309	612	7	and	and	CCONJ
ftr-309	612	8	anne	anne	PROPN
ftr-309	612	9	,	,	PUNCT
ftr-309	612	10	form	form	VERB
ftr-309	612	11	a	a	DET
ftr-309	612	12	partnership	partnership	NOUN
ftr-309	612	13	to	to	PART
ftr-309	612	14	provide	provide	VERB
ftr-309	612	15	legal	legal	ADJ
ftr-309	612	16	services	service	NOUN
ftr-309	612	17	.	.	PUNCT
ftr-309	613	1	ron	ron	PROPN
ftr-309	613	2	is	be	AUX
ftr-309	613	3	a	a	DET
ftr-309	613	4	u.k	u.k	PROPN
ftr-309	613	5	.	.	PROPN
ftr-309	613	6	citizen	citizen	PROPN
ftr-309	613	7	and	and	CCONJ
ftr-309	613	8	not	not	PART
ftr-309	613	9	a	a	DET
ftr-309	613	10	resident	resident	NOUN
ftr-309	613	11	of	of	ADP
ftr-309	613	12	the	the	DET
ftr-309	613	13	united	united	PROPN
ftr-309	613	14	states	states	PROPN
ftr-309	613	15	.	.	PUNCT
ftr-309	614	1	anne	anne	PROPN
ftr-309	614	2	is	be	AUX
ftr-309	614	3	a	a	DET
ftr-309	614	4	u.s	u.s	PROPN
ftr-309	614	5	.	.	PROPN
ftr-309	614	6	citizen	citizen	PROPN
ftr-309	614	7	.	.	PUNCT
ftr-309	615	1	ron	ron	PROPN
ftr-309	615	2	and	and	CCONJ
ftr-309	615	3	anne	anne	PROPN
ftr-309	615	4	each	each	PRON
ftr-309	615	5	contribute	contribute	VERB
ftr-309	615	6	$	$	SYM
ftr-309	615	7	1,000	1,000	NUM
ftr-309	615	8	cash	cash	NOUN
ftr-309	615	9	to	to	ADP
ftr-309	615	10	the	the	DET
ftr-309	615	11	partnership	partnership	NOUN
ftr-309	615	12	.	.	PUNCT
ftr-309	616	1	the	the	DET
ftr-309	616	2	partnership	partnership	NOUN
ftr-309	616	3	provides	provide	VERB
ftr-309	616	4	some	some	DET
ftr-309	616	5	legal	legal	ADJ
ftr-309	616	6	services	service	NOUN
ftr-309	616	7	in	in	ADP
ftr-309	616	8	the	the	DET
ftr-309	616	9	united	united	PROPN
ftr-309	616	10	kingdom	kingdom	PROPN
ftr-309	616	11	out	out	ADP
ftr-309	616	12	of	of	ADP
ftr-309	616	13	its	its	PRON
ftr-309	616	14	u.k	u.k	PROPN
ftr-309	616	15	.	.	PROPN
ftr-309	616	16	office	office	PROPN
ftr-309	616	17	and	and	CCONJ
ftr-309	616	18	some	some	DET
ftr-309	616	19	legal	legal	ADJ
ftr-309	616	20	services	service	NOUN
ftr-309	616	21	in	in	ADP
ftr-309	616	22	the	the	DET
ftr-309	616	23	united	united	PROPN
ftr-309	616	24	states	states	PROPN
ftr-309	616	25	out	out	ADP
ftr-309	616	26	of	of	ADP
ftr-309	616	27	its	its	PRON
ftr-309	616	28	u.s	u.s	PROPN
ftr-309	616	29	.	.	PROPN
ftr-309	616	30	office	office	NOUN
ftr-309	616	31	.	.	PUNCT
ftr-309	617	1	thus	thus	ADV
ftr-309	617	2	,	,	PUNCT
ftr-309	617	3	in	in	ADP
ftr-309	617	4	any	any	DET
ftr-309	617	5	given	give	VERB
ftr-309	617	6	year	year	NOUN
ftr-309	617	7	,	,	PUNCT
ftr-309	617	8	the	the	DET
ftr-309	617	9	partnership	partnership	NOUN
ftr-309	617	10	will	will	AUX
ftr-309	617	11	recognize	recognize	VERB
ftr-309	617	12	some	some	DET
ftr-309	617	13	income	income	NOUN
ftr-309	617	14	from	from	ADP
ftr-309	617	15	providing	provide	VERB
ftr-309	617	16	legal	legal	ADJ
ftr-309	617	17	services	service	NOUN
ftr-309	617	18	in	in	ADP
ftr-309	617	19	the	the	DET
ftr-309	617	20	united	united	PROPN
ftr-309	617	21	states	states	PROPN
ftr-309	617	22	and	and	CCONJ
ftr-309	617	23	some	some	DET
ftr-309	617	24	income	income	NOUN
ftr-309	617	25	from	from	ADP
ftr-309	617	26	providing	provide	VERB
ftr-309	617	27	legal	legal	ADJ
ftr-309	617	28	services	service	NOUN
ftr-309	617	29	in	in	ADP
ftr-309	617	30	the	the	DET
ftr-309	617	31	united	united	ADJ
ftr-309	617	32	kingdom	kingdom	PROPN
ftr-309	617	33	.	.	PUNCT
ftr-309	618	1	anne	anne	PROPN
ftr-309	618	2	is	be	AUX
ftr-309	618	3	subject	subject	ADJ
ftr-309	618	4	to	to	ADP
ftr-309	618	5	35	35	NUM
ftr-309	618	6	percent	percent	NOUN
ftr-309	618	7	u.s	u.s	PROPN
ftr-309	618	8	.	.	PROPN
ftr-309	618	9	tax	tax	NOUN
ftr-309	618	10	on	on	ADP
ftr-309	618	11	income	income	NOUN
ftr-309	618	12	109	109	NUM
ftr-309	618	13	.	.	PUNCT
ftr-309	619	1	even	even	ADV
ftr-309	619	2	among	among	ADP
ftr-309	619	3	unrelated	unrelated	ADJ
ftr-309	619	4	partners	partner	NOUN
ftr-309	619	5	,	,	PUNCT
ftr-309	619	6	some	some	DET
ftr-309	619	7	entirely	entirely	ADV
ftr-309	619	8	tax	tax	NOUN
ftr-309	619	9	-	-	PUNCT
ftr-309	619	10	motivated	motivate	VERB
ftr-309	619	11	allocations	allocation	NOUN
ftr-309	619	12	will	will	AUX
ftr-309	619	13	slip	slip	VERB
ftr-309	619	14	through	through	ADP
ftr-309	619	15	the	the	DET
ftr-309	619	16	cracks	crack	NOUN
ftr-309	619	17	.	.	PUNCT
ftr-309	620	1	see	see	VERB
ftr-309	620	2	infra	infra	NOUN
ftr-309	620	3	note	note	VERB
ftr-309	620	4	110	110	NUM
ftr-309	620	5	and	and	CCONJ
ftr-309	620	6	accompanying	accompany	VERB
ftr-309	620	7	text	text	NOUN
ftr-309	620	8	.	.	PUNCT
ftr-309	621	1	therefore	therefore	ADV
ftr-309	621	2	,	,	PUNCT
ftr-309	621	3	this	this	DET
ftr-309	621	4	article	article	NOUN
ftr-309	621	5	does	do	AUX
ftr-309	621	6	not	not	PART
ftr-309	621	7	claim	claim	VERB
ftr-309	621	8	that	that	SCONJ
ftr-309	621	9	the	the	DET
ftr-309	621	10	substantial	substantial	ADJ
ftr-309	621	11	economic	economic	ADJ
ftr-309	621	12	effect	effect	NOUN
ftr-309	621	13	rules	rule	NOUN
ftr-309	621	14	function	function	VERB
ftr-309	621	15	flawlessly	flawlessly	ADV
ftr-309	621	16	when	when	SCONJ
ftr-309	621	17	partners	partner	NOUN
ftr-309	621	18	are	be	AUX
ftr-309	621	19	unrelated	unrelated	ADJ
ftr-309	621	20	.	.	PUNCT
ftr-309	622	1	rather	rather	ADV
ftr-309	622	2	,	,	PUNCT
ftr-309	622	3	this	this	DET
ftr-309	622	4	article	article	NOUN
ftr-309	622	5	argues	argue	VERB
ftr-309	622	6	that	that	SCONJ
ftr-309	622	7	the	the	DET
ftr-309	622	8	substantial	substantial	ADJ
ftr-309	622	9	economic	economic	ADJ
ftr-309	622	10	effect	effect	NOUN
ftr-309	622	11	rules	rule	NOUN
ftr-309	622	12	have	have	VERB
ftr-309	622	13	no	no	DET
ftr-309	622	14	chance	chance	NOUN
ftr-309	622	15	of	of	ADP
ftr-309	622	16	restricting	restrict	VERB
ftr-309	622	17	,	,	PUNCT
ftr-309	622	18	in	in	ADP
ftr-309	622	19	any	any	DET
ftr-309	622	20	meaningful	meaningful	ADJ
ftr-309	622	21	way	way	NOUN
ftr-309	622	22	,	,	PUNCT
ftr-309	622	23	allocations	allocation	NOUN
ftr-309	622	24	among	among	ADP
ftr-309	622	25	related	related	ADJ
ftr-309	622	26	partners	partner	NOUN
ftr-309	622	27	whose	whose	DET
ftr-309	622	28	economic	economic	ADJ
ftr-309	622	29	interests	interest	NOUN
ftr-309	622	30	are	be	AUX
ftr-309	622	31	aligned	align	VERB
ftr-309	622	32	.	.	PUNCT
ftr-309	623	1	110	110	NUM
ftr-309	623	2	.	.	PUNCT
ftr-309	623	3	not	not	PART
ftr-309	623	4	all	all	DET
ftr-309	623	5	tax	tax	NOUN
ftr-309	623	6	-	-	PUNCT
ftr-309	623	7	motivated	motivate	VERB
ftr-309	623	8	allocation	allocation	NOUN
ftr-309	623	9	schemes	scheme	NOUN
ftr-309	623	10	are	be	AUX
ftr-309	623	11	prevented	prevent	VERB
ftr-309	623	12	by	by	ADP
ftr-309	623	13	the	the	DET
ftr-309	623	14	substantiality	substantiality	NOUN
ftr-309	623	15	requirement	requirement	NOUN
ftr-309	623	16	even	even	ADV
ftr-309	623	17	when	when	SCONJ
ftr-309	623	18	partners	partner	NOUN
ftr-309	623	19	are	be	AUX
ftr-309	623	20	unrelated	unrelated	ADJ
ftr-309	623	21	.	.	PUNCT
ftr-309	624	1	for	for	ADP
ftr-309	624	2	further	further	ADJ
ftr-309	624	3	discussion	discussion	NOUN
ftr-309	624	4	,	,	PUNCT
ftr-309	624	5	see	see	VERB
ftr-309	624	6	mark	mark	PROPN
ftr-309	624	7	p.	p.	PROPN
ftr-309	624	8	gergen	gergen	PROPN
ftr-309	624	9	,	,	PUNCT
ftr-309	624	10	reforming	reform	VERB
ftr-309	624	11	subchapter	subchapter	NOUN
ftr-309	624	12	k	k	NOUN
ftr-309	624	13	:	:	PUNCT
ftr-309	624	14	special	special	ADJ
ftr-309	624	15	allocations	allocation	NOUN
ftr-309	624	16	,	,	PUNCT
ftr-309	624	17	46	46	NUM
ftr-309	624	18	tax	tax	NOUN
ftr-309	624	19	l.	l.	PROPN
ftr-309	624	20	rev	rev	PROPN
ftr-309	624	21	.	.	PROPN
ftr-309	624	22	1	1	NUM
ftr-309	624	23	(	(	PUNCT
ftr-309	624	24	1990	1990	NUM
ftr-309	624	25	)	)	PUNCT
ftr-309	625	1	[	[	X
ftr-309	625	2	hereinafter	hereinafter	NOUN
ftr-309	625	3	gergen	gergen	ADV
ftr-309	625	4	,	,	PUNCT
ftr-309	625	5	reforming	reform	VERB
ftr-309	625	6	subchapter	subchapter	NOUN
ftr-309	625	7	k	k	NOUN
ftr-309	625	8	]	]	X
ftr-309	625	9	;	;	PUNCT
ftr-309	625	10	calvin	calvin	PROPN
ftr-309	625	11	h.	h.	PROPN
ftr-309	625	12	johnson	johnson	PROPN
ftr-309	625	13	,	,	PUNCT
ftr-309	625	14	partnership	partnership	NOUN
ftr-309	625	15	allocations	allocation	NOUN
ftr-309	625	16	from	from	ADP
ftr-309	625	17	nickel	nickel	NOUN
ftr-309	625	18	-	-	PUNCT
ftr-309	625	19	on	on	ADP
ftr-309	625	20	-	-	PUNCT
ftr-309	625	21	the	the	DET
ftr-309	625	22	-	-	PUNCT
ftr-309	625	23	dollar	dollar	NOUN
ftr-309	625	24	substance	substance	NOUN
ftr-309	625	25	,	,	PUNCT
ftr-309	625	26	134	134	NUM
ftr-309	625	27	tax	tax	NOUN
ftr-309	625	28	notes	note	NOUN
ftr-309	625	29	873	873	NUM
ftr-309	625	30	(	(	PUNCT
ftr-309	625	31	feb	feb	PROPN
ftr-309	625	32	.	.	PROPN
ftr-309	625	33	13	13	NUM
ftr-309	625	34	,	,	PUNCT
ftr-309	625	35	2012	2012	NUM
ftr-309	625	36	)	)	PUNCT
ftr-309	625	37	;	;	PUNCT
ftr-309	625	38	leder	leder	NOUN
ftr-309	625	39	,	,	PUNCT
ftr-309	625	40	tax	tax	NOUN
ftr-309	625	41	-	-	PUNCT
ftr-309	625	42	driven	drive	VERB
ftr-309	625	43	partnership	partnership	NOUN
ftr-309	625	44	allocations	allocation	NOUN
ftr-309	625	45	,	,	PUNCT
ftr-309	625	46	supra	supra	PROPN
ftr-309	625	47	note	note	NOUN
ftr-309	625	48	13	13	NUM
ftr-309	625	49	.	.	NOUN
ftr-309	625	50	178	178	NUM
ftr-309	626	1	[	[	X
ftr-309	626	2	vol	vol	NOUN
ftr-309	626	3	.	.	PUNCT
ftr-309	626	4	14:5	14:5	NUM
ftr-309	626	5	2013	2013	NUM
ftr-309	626	6	]	]	PUNCT
ftr-309	626	7	was	be	AUX
ftr-309	626	8	blackstone	blackstone	NOUN
ftr-309	626	9	's	's	PART
ftr-309	626	10	initial	initial	ADJ
ftr-309	626	11	public	public	ADJ
ftr-309	626	12	offering	offering	NOUN
ftr-309	626	13	too	too	ADV
ftr-309	626	14	good	good	ADJ
ftr-309	626	15	to	to	PART
ftr-309	626	16	be	be	AUX
ftr-309	626	17	true	true	ADJ
ftr-309	626	18	?	?	PUNCT
ftr-309	627	1	from	from	ADP
ftr-309	627	2	legal	legal	ADJ
ftr-309	627	3	services	service	NOUN
ftr-309	627	4	,	,	PUNCT
ftr-309	627	5	regardless	regardless	ADV
ftr-309	627	6	of	of	ADP
ftr-309	627	7	where	where	SCONJ
ftr-309	627	8	the	the	DET
ftr-309	627	9	services	service	NOUN
ftr-309	627	10	are	be	AUX
ftr-309	627	11	performed	perform	VERB
ftr-309	627	12	.	.	PUNCT
ftr-309	628	1	ron	ron	PROPN
ftr-309	628	2	is	be	AUX
ftr-309	628	3	subject	subject	ADJ
ftr-309	628	4	to	to	ADP
ftr-309	628	5	35	35	NUM
ftr-309	628	6	percent	percent	NOUN
ftr-309	628	7	u.s	u.s	PROPN
ftr-309	628	8	.	.	PROPN
ftr-309	628	9	tax	tax	NOUN
ftr-309	628	10	on	on	ADP
ftr-309	628	11	income	income	NOUN
ftr-309	628	12	from	from	ADP
ftr-309	628	13	providing	provide	VERB
ftr-309	628	14	legal	legal	ADJ
ftr-309	628	15	services	service	NOUN
ftr-309	628	16	in	in	ADP
ftr-309	628	17	the	the	DET
ftr-309	628	18	united	united	PROPN
ftr-309	628	19	states	states	PROPN
ftr-309	628	20	but	but	CCONJ
ftr-309	628	21	no	no	DET
ftr-309	628	22	u.s	u.s	PROPN
ftr-309	628	23	.	.	PROPN
ftr-309	628	24	tax	tax	NOUN
ftr-309	628	25	on	on	ADP
ftr-309	628	26	income	income	NOUN
ftr-309	628	27	from	from	ADP
ftr-309	628	28	providing	provide	VERB
ftr-309	628	29	legal	legal	ADJ
ftr-309	628	30	services	service	NOUN
ftr-309	628	31	in	in	ADP
ftr-309	628	32	the	the	DET
ftr-309	628	33	united	united	ADJ
ftr-309	628	34	kingdom	kingdom	PROPN
ftr-309	628	35	.	.	PUNCT
ftr-309	629	1	the	the	DET
ftr-309	629	2	partnership	partnership	NOUN
ftr-309	629	3	agreement	agreement	NOUN
ftr-309	629	4	provides	provide	VERB
ftr-309	629	5	that	that	SCONJ
ftr-309	629	6	a	a	DET
ftr-309	629	7	capital	capital	NOUN
ftr-309	629	8	account	account	NOUN
ftr-309	629	9	will	will	AUX
ftr-309	629	10	be	be	AUX
ftr-309	629	11	maintained	maintain	VERB
ftr-309	629	12	for	for	ADP
ftr-309	629	13	each	each	DET
ftr-309	629	14	partner	partner	NOUN
ftr-309	629	15	in	in	ADP
ftr-309	629	16	accordance	accordance	NOUN
ftr-309	629	17	with	with	ADP
ftr-309	629	18	the	the	DET
ftr-309	629	19	rules	rule	NOUN
ftr-309	629	20	described	describe	VERB
ftr-309	629	21	above	above	ADP
ftr-309	629	22	and	and	CCONJ
ftr-309	629	23	liquidating	liquidating	NOUN
ftr-309	629	24	distributions	distribution	NOUN
ftr-309	629	25	will	will	AUX
ftr-309	629	26	be	be	AUX
ftr-309	629	27	made	make	VERB
ftr-309	629	28	based	base	VERB
ftr-309	629	29	on	on	ADP
ftr-309	629	30	capital	capital	NOUN
ftr-309	629	31	account	account	NOUN
ftr-309	629	32	balances	balance	NOUN
ftr-309	629	33	.	.	PUNCT
ftr-309	630	1	the	the	DET
ftr-309	630	2	partnership	partnership	NOUN
ftr-309	630	3	agreement	agreement	NOUN
ftr-309	630	4	further	far	ADV
ftr-309	630	5	provides	provide	VERB
ftr-309	630	6	that	that	SCONJ
ftr-309	630	7	the	the	DET
ftr-309	630	8	partnership	partnership	NOUN
ftr-309	630	9	will	will	AUX
ftr-309	630	10	allocate	allocate	VERB
ftr-309	630	11	to	to	ADP
ftr-309	630	12	each	each	DET
ftr-309	630	13	partner	partner	NOUN
ftr-309	630	14	50	50	NUM
ftr-309	630	15	percent	percent	NOUN
ftr-309	630	16	of	of	ADP
ftr-309	630	17	total	total	ADJ
ftr-309	630	18	income	income	NOUN
ftr-309	630	19	recognized	recognize	VERB
ftr-309	630	20	by	by	ADP
ftr-309	630	21	the	the	DET
ftr-309	630	22	partnership	partnership	NOUN
ftr-309	630	23	,	,	PUNCT
ftr-309	630	24	but	but	CCONJ
ftr-309	630	25	the	the	DET
ftr-309	630	26	income	income	NOUN
ftr-309	630	27	allocated	allocate	VERB
ftr-309	630	28	to	to	ADP
ftr-309	630	29	ron	ron	PROPN
ftr-309	630	30	will	will	AUX
ftr-309	630	31	consist	consist	VERB
ftr-309	630	32	entirely	entirely	ADV
ftr-309	630	33	of	of	ADP
ftr-309	630	34	income	income	NOUN
ftr-309	630	35	from	from	ADP
ftr-309	630	36	the	the	DET
ftr-309	630	37	united	united	PROPN
ftr-309	630	38	kingdom	kingdom	PROPN
ftr-309	630	39	to	to	ADP
ftr-309	630	40	the	the	DET
ftr-309	630	41	extent	extent	NOUN
ftr-309	630	42	possible	possible	ADJ
ftr-309	630	43	.	.	PUNCT
ftr-309	631	1	thus	thus	ADV
ftr-309	631	2	,	,	PUNCT
ftr-309	631	3	in	in	ADP
ftr-309	631	4	year	year	NOUN
ftr-309	631	5	1	1	NUM
ftr-309	631	6	,	,	PUNCT
ftr-309	631	7	for	for	ADP
ftr-309	631	8	example	example	NOUN
ftr-309	631	9	,	,	PUNCT
ftr-309	631	10	if	if	SCONJ
ftr-309	631	11	the	the	DET
ftr-309	631	12	partnership	partnership	NOUN
ftr-309	631	13	recognizes	recognize	VERB
ftr-309	631	14	$	$	SYM
ftr-309	631	15	300	300	NUM
ftr-309	631	16	of	of	ADP
ftr-309	631	17	income	income	NOUN
ftr-309	631	18	from	from	ADP
ftr-309	631	19	the	the	DET
ftr-309	631	20	united	united	ADJ
ftr-309	631	21	kingdom	kingdom	NOUN
ftr-309	631	22	and	and	CCONJ
ftr-309	631	23	$	$	SYM
ftr-309	631	24	700	700	NUM
ftr-309	631	25	of	of	ADP
ftr-309	631	26	income	income	NOUN
ftr-309	631	27	from	from	ADP
ftr-309	631	28	the	the	DET
ftr-309	631	29	united	united	PROPN
ftr-309	631	30	states	states	PROPN
ftr-309	631	31	,	,	PUNCT
ftr-309	631	32	the	the	DET
ftr-309	631	33	partnership	partnership	NOUN
ftr-309	631	34	would	would	AUX
ftr-309	631	35	allocate	allocate	VERB
ftr-309	631	36	to	to	ADP
ftr-309	631	37	ron	ron	PROPN
ftr-309	631	38	$	$	SYM
ftr-309	631	39	300	300	NUM
ftr-309	631	40	of	of	ADP
ftr-309	631	41	u.k	u.k	PROPN
ftr-309	631	42	.	.	PROPN
ftr-309	631	43	income	income	NOUN
ftr-309	631	44	and	and	CCONJ
ftr-309	631	45	$	$	SYM
ftr-309	631	46	200	200	NUM
ftr-309	631	47	of	of	ADP
ftr-309	631	48	u.s	u.s	PROPN
ftr-309	631	49	.	.	PROPN
ftr-309	631	50	income	income	NOUN
ftr-309	631	51	,	,	PUNCT
ftr-309	631	52	and	and	CCONJ
ftr-309	631	53	the	the	DET
ftr-309	631	54	partnership	partnership	NOUN
ftr-309	631	55	would	would	AUX
ftr-309	631	56	allocate	allocate	VERB
ftr-309	631	57	to	to	ADP
ftr-309	631	58	anne	anne	PROPN
ftr-309	631	59	$	$	SYM
ftr-309	631	60	500	500	NUM
ftr-309	631	61	of	of	ADP
ftr-309	631	62	u.s	u.s	PROPN
ftr-309	631	63	.	.	PROPN
ftr-309	631	64	income	income	NOUN
ftr-309	631	65	.	.	PUNCT
ftr-309	632	1	"	"	PUNCT
ftr-309	632	2	'	'	PUNCT
ftr-309	632	3	the	the	DET
ftr-309	632	4	allocations	allocation	NOUN
ftr-309	632	5	in	in	ADP
ftr-309	632	6	example	example	NOUN
ftr-309	632	7	3	3	NUM
ftr-309	632	8	have	have	VERB
ftr-309	632	9	economic	economic	ADJ
ftr-309	632	10	effect	effect	NOUN
ftr-309	632	11	because	because	SCONJ
ftr-309	632	12	the	the	DET
ftr-309	632	13	partnership	partnership	NOUN
ftr-309	632	14	maintains	maintain	VERB
ftr-309	632	15	capital	capital	NOUN
ftr-309	632	16	accounts	account	NOUN
ftr-309	632	17	and	and	CCONJ
ftr-309	632	18	provides	provide	VERB
ftr-309	632	19	for	for	ADP
ftr-309	632	20	liquidation	liquidation	NOUN
ftr-309	632	21	based	base	VERB
ftr-309	632	22	on	on	ADP
ftr-309	632	23	capital	capital	NOUN
ftr-309	632	24	account	account	NOUN
ftr-309	632	25	balances.1	balances.1	PROPN
ftr-309	632	26	12	12	NUM
ftr-309	632	27	however	however	ADV
ftr-309	632	28	,	,	PUNCT
ftr-309	632	29	the	the	DET
ftr-309	632	30	allocations	allocation	NOUN
ftr-309	632	31	are	be	AUX
ftr-309	632	32	,	,	PUNCT
ftr-309	632	33	nonetheless	nonetheless	ADV
ftr-309	632	34	,	,	PUNCT
ftr-309	632	35	entirely	entirely	ADV
ftr-309	632	36	tax	tax	NOUN
ftr-309	632	37	-	-	PUNCT
ftr-309	632	38	motivated	motivated	ADJ
ftr-309	632	39	.	.	PUNCT
ftr-309	633	1	the	the	DET
ftr-309	633	2	allocations	allocation	NOUN
ftr-309	633	3	ensure	ensure	VERB
ftr-309	633	4	that	that	SCONJ
ftr-309	633	5	,	,	PUNCT
ftr-309	633	6	regardless	regardless	ADV
ftr-309	633	7	of	of	ADP
ftr-309	633	8	the	the	DET
ftr-309	633	9	types	type	NOUN
ftr-309	633	10	of	of	ADP
ftr-309	633	11	income	income	NOUN
ftr-309	633	12	earned	earn	VERB
ftr-309	633	13	by	by	ADP
ftr-309	633	14	the	the	DET
ftr-309	633	15	partnership	partnership	NOUN
ftr-309	633	16	,	,	PUNCT
ftr-309	633	17	each	each	PRON
ftr-309	633	18	of	of	ADP
ftr-309	633	19	ron	ron	PROPN
ftr-309	633	20	and	and	CCONJ
ftr-309	633	21	anne	anne	PROPN
ftr-309	633	22	will	will	AUX
ftr-309	633	23	receive	receive	VERB
ftr-309	633	24	50	50	NUM
ftr-309	633	25	percent	percent	NOUN
ftr-309	633	26	of	of	ADP
ftr-309	633	27	the	the	DET
ftr-309	633	28	cash	cash	NOUN
ftr-309	633	29	distributed	distribute	VERB
ftr-309	633	30	on	on	ADP
ftr-309	633	31	liquidation	liquidation	NOUN
ftr-309	633	32	.	.	PUNCT
ftr-309	634	1	each	each	DET
ftr-309	634	2	partner	partner	NOUN
ftr-309	634	3	contributed	contribute	VERB
ftr-309	634	4	$	$	SYM
ftr-309	634	5	1,000	1,000	NUM
ftr-309	634	6	,	,	PUNCT
ftr-309	634	7	so	so	SCONJ
ftr-309	634	8	the	the	DET
ftr-309	634	9	partners	partner	NOUN
ftr-309	634	10	'	'	PART
ftr-309	634	11	initial	initial	ADJ
ftr-309	634	12	capital	capital	NOUN
ftr-309	634	13	account	account	NOUN
ftr-309	634	14	balances	balance	NOUN
ftr-309	634	15	are	be	AUX
ftr-309	634	16	equal	equal	ADJ
ftr-309	634	17	(	(	PUNCT
ftr-309	634	18	$	$	SYM
ftr-309	634	19	1,000	1,000	NUM
ftr-309	634	20	each	each	PRON
ftr-309	634	21	)	)	PUNCT
ftr-309	634	22	.	.	PUNCT
ftr-309	635	1	further	far	ADV
ftr-309	635	2	,	,	PUNCT
ftr-309	635	3	each	each	DET
ftr-309	635	4	partner	partner	NOUN
ftr-309	635	5	is	be	AUX
ftr-309	635	6	always	always	ADV
ftr-309	635	7	allocated	allocate	VERB
ftr-309	635	8	50	50	NUM
ftr-309	635	9	percent	percent	NOUN
ftr-309	635	10	of	of	ADP
ftr-309	635	11	the	the	DET
ftr-309	635	12	total	total	ADJ
ftr-309	635	13	income	income	NOUN
ftr-309	635	14	recognized	recognize	VERB
ftr-309	635	15	by	by	ADP
ftr-309	635	16	the	the	DET
ftr-309	635	17	partnership	partnership	NOUN
ftr-309	635	18	,	,	PUNCT
ftr-309	635	19	so	so	SCONJ
ftr-309	635	20	the	the	DET
ftr-309	635	21	partners	partner	NOUN
ftr-309	635	22	'	'	PART
ftr-309	635	23	capital	capital	NOUN
ftr-309	635	24	account	account	NOUN
ftr-309	635	25	balances	balance	NOUN
ftr-309	635	26	will	will	AUX
ftr-309	635	27	remain	remain	VERB
ftr-309	635	28	equal	equal	ADJ
ftr-309	635	29	(	(	PUNCT
ftr-309	635	30	in	in	ADP
ftr-309	635	31	example	example	NOUN
ftr-309	635	32	3	3	NUM
ftr-309	635	33	,	,	PUNCT
ftr-309	635	34	above	above	ADV
ftr-309	635	35	,	,	PUNCT
ftr-309	635	36	for	for	ADP
ftr-309	635	37	instance	instance	NOUN
ftr-309	635	38	,	,	PUNCT
ftr-309	635	39	each	each	DET
ftr-309	635	40	partner	partner	NOUN
ftr-309	635	41	's	's	PART
ftr-309	635	42	capital	capital	NOUN
ftr-309	635	43	account	account	NOUN
ftr-309	635	44	increases	increase	NOUN
ftr-309	635	45	by	by	ADP
ftr-309	635	46	$	$	SYM
ftr-309	635	47	500	500	NUM
ftr-309	635	48	to	to	PART
ftr-309	635	49	become	become	VERB
ftr-309	635	50	$	$	SYM
ftr-309	635	51	1,500	1,500	NUM
ftr-309	635	52	)	)	PUNCT
ftr-309	635	53	.	.	PUNCT
ftr-309	636	1	thus	thus	ADV
ftr-309	636	2	,	,	PUNCT
ftr-309	636	3	when	when	SCONJ
ftr-309	636	4	the	the	DET
ftr-309	636	5	partnership	partnership	NOUN
ftr-309	636	6	liquidates	liquidate	VERB
ftr-309	636	7	based	base	VERB
ftr-309	636	8	on	on	ADP
ftr-309	636	9	capital	capital	NOUN
ftr-309	636	10	account	account	NOUN
ftr-309	636	11	balances	balance	NOUN
ftr-309	636	12	,	,	PUNCT
ftr-309	636	13	the	the	DET
ftr-309	636	14	partnership	partnership	NOUN
ftr-309	636	15	will	will	AUX
ftr-309	636	16	distribute	distribute	VERB
ftr-309	636	17	cash	cash	NOUN
ftr-309	636	18	equally	equally	ADV
ftr-309	636	19	between	between	ADP
ftr-309	636	20	anne	anne	PROPN
ftr-309	636	21	and	and	CCONJ
ftr-309	636	22	ron	ron	PROPN
ftr-309	636	23	.	.	PUNCT
ftr-309	637	1	consequently	consequently	ADV
ftr-309	637	2	,	,	PUNCT
ftr-309	637	3	anne	anne	PROPN
ftr-309	637	4	and	and	CCONJ
ftr-309	637	5	ron	ron	PROPN
ftr-309	637	6	receive	receive	VERB
ftr-309	637	7	the	the	DET
ftr-309	637	8	same	same	ADJ
ftr-309	637	9	amount	amount	NOUN
ftr-309	637	10	of	of	ADP
ftr-309	637	11	cash	cash	NOUN
ftr-309	637	12	as	as	SCONJ
ftr-309	637	13	they	they	PRON
ftr-309	637	14	would	would	AUX
ftr-309	637	15	have	have	AUX
ftr-309	637	16	received	receive	VERB
ftr-309	637	17	if	if	SCONJ
ftr-309	637	18	the	the	DET
ftr-309	637	19	partnership	partnership	NOUN
ftr-309	637	20	had	have	AUX
ftr-309	637	21	allocated	allocate	VERB
ftr-309	637	22	each	each	DET
ftr-309	637	23	item	item	NOUN
ftr-309	637	24	of	of	ADP
ftr-309	637	25	income	income	NOUN
ftr-309	637	26	equally	equally	ADV
ftr-309	637	27	between	between	ADP
ftr-309	637	28	the	the	DET
ftr-309	637	29	partners	partner	NOUN
ftr-309	637	30	.	.	PUNCT
ftr-309	638	1	in	in	ADP
ftr-309	638	2	example	example	NOUN
ftr-309	638	3	3	3	NUM
ftr-309	638	4	,	,	PUNCT
ftr-309	638	5	above	above	ADV
ftr-309	638	6	,	,	PUNCT
ftr-309	638	7	for	for	ADP
ftr-309	638	8	instance	instance	NOUN
ftr-309	638	9	,	,	PUNCT
ftr-309	638	10	if	if	SCONJ
ftr-309	638	11	the	the	DET
ftr-309	638	12	partnership	partnership	NOUN
ftr-309	638	13	allocated	allocate	VERB
ftr-309	638	14	u.s	u.s	PROPN
ftr-309	638	15	.	.	PROPN
ftr-309	638	16	income	income	NOUN
ftr-309	638	17	equally	equally	ADV
ftr-309	638	18	(	(	PUNCT
ftr-309	638	19	$	$	SYM
ftr-309	638	20	350	350	NUM
ftr-309	638	21	to	to	ADP
ftr-309	638	22	each	each	PRON
ftr-309	638	23	)	)	PUNCT
ftr-309	638	24	and	and	CCONJ
ftr-309	638	25	u.k	u.k	PROPN
ftr-309	638	26	.	.	PROPN
ftr-309	638	27	income	income	NOUN
ftr-309	638	28	equally	equally	ADV
ftr-309	638	29	(	(	PUNCT
ftr-309	638	30	$	$	SYM
ftr-309	638	31	150	150	NUM
ftr-309	638	32	to	to	ADP
ftr-309	638	33	each	each	PRON
ftr-309	638	34	)	)	PUNCT
ftr-309	638	35	,	,	PUNCT
ftr-309	638	36	each	each	DET
ftr-309	638	37	partner	partner	NOUN
ftr-309	638	38	's	's	PART
ftr-309	638	39	capital	capital	NOUN
ftr-309	638	40	account	account	NOUN
ftr-309	638	41	would	would	AUX
ftr-309	638	42	still	still	ADV
ftr-309	638	43	111	111	NUM
ftr-309	638	44	.	.	PUNCT
ftr-309	639	1	see	see	VERB
ftr-309	639	2	regs	reg	NOUN
ftr-309	639	3	.	.	PUNCT
ftr-309	640	1	§	§	PROPN
ftr-309	640	2	1.704	1.704	NUM
ftr-309	640	3	-	-	NUM
ftr-309	640	4	1(b)(5	1(b)(5	NUM
ftr-309	640	5	)	)	PUNCT
ftr-309	640	6	ex	ex	NOUN
ftr-309	640	7	.	.	PUNCT
ftr-309	640	8	(	(	PUNCT
ftr-309	640	9	10)(ii	10)(ii	NUM
ftr-309	640	10	)	)	PUNCT
ftr-309	640	11	(	(	PUNCT
ftr-309	640	12	providing	provide	VERB
ftr-309	640	13	a	a	DET
ftr-309	640	14	similar	similar	ADJ
ftr-309	640	15	example	example	NOUN
ftr-309	640	16	)	)	PUNCT
ftr-309	640	17	.	.	PUNCT
ftr-309	641	1	112	112	NUM
ftr-309	641	2	.	.	PUNCT
ftr-309	642	1	this	this	DET
ftr-309	642	2	analysis	analysis	NOUN
ftr-309	642	3	assumes	assume	VERB
ftr-309	642	4	that	that	SCONJ
ftr-309	642	5	the	the	DET
ftr-309	642	6	partnership	partnership	NOUN
ftr-309	642	7	also	also	ADV
ftr-309	642	8	takes	take	VERB
ftr-309	642	9	steps	step	NOUN
ftr-309	642	10	to	to	PART
ftr-309	642	11	ensure	ensure	VERB
ftr-309	642	12	that	that	SCONJ
ftr-309	642	13	no	no	DET
ftr-309	642	14	partner	partner	NOUN
ftr-309	642	15	's	's	PART
ftr-309	642	16	capital	capital	NOUN
ftr-309	642	17	account	account	NOUN
ftr-309	642	18	balance	balance	NOUN
ftr-309	642	19	becomes	become	VERB
ftr-309	642	20	or	or	CCONJ
ftr-309	642	21	remains	remain	VERB
ftr-309	642	22	impermissibly	impermissibly	ADV
ftr-309	642	23	negative	negative	ADJ
ftr-309	642	24	.	.	PUNCT
ftr-309	643	1	see	see	VERB
ftr-309	643	2	regs	reg	NOUN
ftr-309	643	3	.	.	PUNCT
ftr-309	644	1	§	§	PROPN
ftr-309	644	2	1.704	1.704	NUM
ftr-309	644	3	-	-	NUM
ftr-309	644	4	1(b)(5	1(b)(5	NUM
ftr-309	644	5	)	)	PUNCT
ftr-309	644	6	ex	ex	NOUN
ftr-309	644	7	.	.	PUNCT
ftr-309	644	8	(	(	PUNCT
ftr-309	644	9	10)(ii	10)(ii	NUM
ftr-309	644	10	)	)	PUNCT
ftr-309	644	11	(	(	PUNCT
ftr-309	644	12	reaching	reach	VERB
ftr-309	644	13	the	the	DET
ftr-309	644	14	conclusion	conclusion	NOUN
ftr-309	644	15	that	that	SCONJ
ftr-309	644	16	allocations	allocation	NOUN
ftr-309	644	17	have	have	AUX
ftr-309	644	18	economic	economic	ADJ
ftr-309	644	19	effect	effect	NOUN
ftr-309	644	20	in	in	ADP
ftr-309	644	21	the	the	DET
ftr-309	644	22	context	context	NOUN
ftr-309	644	23	of	of	ADP
ftr-309	644	24	a	a	DET
ftr-309	644	25	similar	similar	ADJ
ftr-309	644	26	example	example	NOUN
ftr-309	644	27	)	)	PUNCT
ftr-309	644	28	;	;	PUNCT
ftr-309	644	29	see	see	VERB
ftr-309	644	30	also	also	ADV
ftr-309	644	31	supra	supra	ADJ
ftr-309	644	32	note	note	NOUN
ftr-309	644	33	98	98	NUM
ftr-309	644	34	.	.	PUNCT
ftr-309	645	1	i179	i179	NUM
ftr-309	645	2	florida	florida	PROPN
ftr-309	645	3	tax	tax	NOUN
ftr-309	645	4	review	review	NOUN
ftr-309	645	5	increase	increase	NOUN
ftr-309	645	6	by	by	ADP
ftr-309	645	7	$	$	SYM
ftr-309	645	8	500	500	NUM
ftr-309	645	9	so	so	SCONJ
ftr-309	645	10	that	that	SCONJ
ftr-309	645	11	capital	capital	NOUN
ftr-309	645	12	accounts	account	NOUN
ftr-309	645	13	would	would	AUX
ftr-309	645	14	remain	remain	VERB
ftr-309	645	15	equal	equal	ADJ
ftr-309	645	16	and	and	CCONJ
ftr-309	645	17	cash	cash	NOUN
ftr-309	645	18	would	would	AUX
ftr-309	645	19	be	be	AUX
ftr-309	645	20	distributed	distribute	VERB
ftr-309	645	21	equally	equally	ADV
ftr-309	645	22	on	on	ADP
ftr-309	645	23	liquidation	liquidation	NOUN
ftr-309	645	24	.	.	PUNCT
ftr-309	646	1	however	however	ADV
ftr-309	646	2	,	,	PUNCT
ftr-309	646	3	the	the	DET
ftr-309	646	4	allocations	allocation	NOUN
ftr-309	646	5	contained	contain	VERB
ftr-309	646	6	in	in	ADP
ftr-309	646	7	the	the	DET
ftr-309	646	8	agreement	agreement	NOUN
ftr-309	646	9	save	save	VERB
ftr-309	646	10	ron	ron	PROPN
ftr-309	646	11	taxes	taxis	NOUN
ftr-309	646	12	compared	compare	VERB
ftr-309	646	13	to	to	ADP
ftr-309	646	14	what	what	PRON
ftr-309	646	15	would	would	AUX
ftr-309	646	16	have	have	AUX
ftr-309	646	17	resulted	result	VERB
ftr-309	646	18	from	from	ADP
ftr-309	646	19	allocating	allocate	VERB
ftr-309	646	20	each	each	DET
ftr-309	646	21	item	item	NOUN
ftr-309	646	22	of	of	ADP
ftr-309	646	23	income	income	NOUN
ftr-309	646	24	equally	equally	ADV
ftr-309	646	25	.	.	PUNCT
ftr-309	647	1	in	in	ADP
ftr-309	647	2	particular	particular	ADJ
ftr-309	647	3	,	,	PUNCT
ftr-309	647	4	if	if	SCONJ
ftr-309	647	5	ron	ron	PROPN
ftr-309	647	6	were	be	AUX
ftr-309	647	7	allocated	allocate	VERB
ftr-309	647	8	50	50	NUM
ftr-309	647	9	percent	percent	NOUN
ftr-309	647	10	of	of	ADP
ftr-309	647	11	each	each	DET
ftr-309	647	12	type	type	NOUN
ftr-309	647	13	of	of	ADP
ftr-309	647	14	income	income	NOUN
ftr-309	647	15	,	,	PUNCT
ftr-309	647	16	ron	ron	PROPN
ftr-309	647	17	would	would	AUX
ftr-309	647	18	be	be	AUX
ftr-309	647	19	subject	subject	ADJ
ftr-309	647	20	to	to	ADP
ftr-309	647	21	$	$	SYM
ftr-309	647	22	122.50	122.50	NUM
ftr-309	647	23	u.s	u.s	PROPN
ftr-309	647	24	.	.	PROPN
ftr-309	647	25	tax	tax	NOUN
ftr-309	647	26	liability	liability	NOUN
ftr-309	647	27	(	(	PUNCT
ftr-309	647	28	35	35	NUM
ftr-309	647	29	percent	percent	NOUN
ftr-309	647	30	times	times	ADP
ftr-309	647	31	$	$	SYM
ftr-309	647	32	350	350	NUM
ftr-309	647	33	u.s	u.s	PROPN
ftr-309	647	34	.	.	PROPN
ftr-309	647	35	income	income	NOUN
ftr-309	647	36	)	)	PUNCT
ftr-309	647	37	.	.	PUNCT
ftr-309	648	1	by	by	ADP
ftr-309	648	2	contrast	contrast	NOUN
ftr-309	648	3	,	,	PUNCT
ftr-309	648	4	under	under	ADP
ftr-309	648	5	the	the	DET
ftr-309	648	6	agreement	agreement	NOUN
ftr-309	648	7	,	,	PUNCT
ftr-309	648	8	ron	ron	PROPN
ftr-309	648	9	is	be	AUX
ftr-309	648	10	allocated	allocate	VERB
ftr-309	648	11	only	only	ADV
ftr-309	648	12	$	$	SYM
ftr-309	648	13	200	200	NUM
ftr-309	648	14	of	of	ADP
ftr-309	648	15	u.s	u.s	PROPN
ftr-309	648	16	.	.	PROPN
ftr-309	648	17	income	income	NOUN
ftr-309	648	18	,	,	PUNCT
ftr-309	648	19	and	and	CCONJ
ftr-309	648	20	therefore	therefore	ADV
ftr-309	648	21	,	,	PUNCT
ftr-309	648	22	ron	ron	PROPN
ftr-309	648	23	is	be	AUX
ftr-309	648	24	subject	subject	ADJ
ftr-309	648	25	to	to	ADP
ftr-309	648	26	only	only	ADV
ftr-309	648	27	$	$	SYM
ftr-309	648	28	70	70	NUM
ftr-309	648	29	of	of	ADP
ftr-309	648	30	u.s	u.s	PROPN
ftr-309	648	31	.	.	PROPN
ftr-309	648	32	tax	tax	NOUN
ftr-309	648	33	liability	liability	NOUN
ftr-309	648	34	(	(	PUNCT
ftr-309	648	35	35	35	NUM
ftr-309	648	36	percent	percent	NOUN
ftr-309	648	37	times	time	NOUN
ftr-309	648	38	$	$	SYM
ftr-309	648	39	200	200	NUM
ftr-309	648	40	)	)	PUNCT
ftr-309	648	41	.	.	PUNCT
ftr-309	649	1	anne	anne	PROPN
ftr-309	649	2	's	's	PART
ftr-309	649	3	tax	tax	NOUN
ftr-309	649	4	liability	liability	NOUN
ftr-309	649	5	is	be	AUX
ftr-309	649	6	the	the	DET
ftr-309	649	7	same	same	ADJ
ftr-309	649	8	under	under	ADP
ftr-309	649	9	the	the	DET
ftr-309	649	10	agreement	agreement	NOUN
ftr-309	649	11	as	as	SCONJ
ftr-309	649	12	it	it	PRON
ftr-309	649	13	would	would	AUX
ftr-309	649	14	be	be	AUX
ftr-309	649	15	if	if	SCONJ
ftr-309	649	16	anne	anne	PROPN
ftr-309	649	17	were	be	AUX
ftr-309	649	18	allocated	allocate	VERB
ftr-309	649	19	50	50	NUM
ftr-309	649	20	percent	percent	NOUN
ftr-309	649	21	of	of	ADP
ftr-309	649	22	each	each	DET
ftr-309	649	23	type	type	NOUN
ftr-309	649	24	of	of	ADP
ftr-309	649	25	income	income	NOUN
ftr-309	649	26	.	.	PUNCT
ftr-309	650	1	anne	anne	PROPN
ftr-309	650	2	is	be	AUX
ftr-309	650	3	subject	subject	ADJ
ftr-309	650	4	to	to	ADP
ftr-309	650	5	a	a	DET
ftr-309	650	6	35	35	NUM
ftr-309	650	7	percent	percent	NOUN
ftr-309	650	8	u.s	u.s	PROPN
ftr-309	650	9	.	.	PROPN
ftr-309	650	10	tax	tax	NOUN
ftr-309	650	11	rate	rate	NOUN
ftr-309	650	12	on	on	ADP
ftr-309	650	13	u.s	u.s	PROPN
ftr-309	650	14	.	.	PROPN
ftr-309	650	15	income	income	PROPN
ftr-309	650	16	and	and	CCONJ
ftr-309	650	17	u.k	u.k	PROPN
ftr-309	650	18	.	.	PROPN
ftr-309	650	19	income	income	NOUN
ftr-309	650	20	,	,	PUNCT
ftr-309	650	21	so	so	ADV
ftr-309	650	22	anne	anne	PROPN
ftr-309	650	23	incurs	incur	VERB
ftr-309	650	24	u.s	u.s	PROPN
ftr-309	650	25	.	.	PROPN
ftr-309	650	26	tax	tax	NOUN
ftr-309	650	27	liability	liability	NOUN
ftr-309	650	28	of	of	ADP
ftr-309	650	29	$	$	SYM
ftr-309	650	30	175	175	NUM
ftr-309	650	31	(	(	PUNCT
ftr-309	650	32	35	35	NUM
ftr-309	650	33	percent	percent	NOUN
ftr-309	650	34	times	time	NOUN
ftr-309	650	35	$	$	SYM
ftr-309	650	36	500	500	NUM
ftr-309	650	37	)	)	PUNCT
ftr-309	650	38	when	when	SCONJ
ftr-309	650	39	she	she	PRON
ftr-309	650	40	is	be	AUX
ftr-309	650	41	allocated	allocate	VERB
ftr-309	650	42	$	$	SYM
ftr-309	650	43	500	500	NUM
ftr-309	650	44	of	of	ADP
ftr-309	650	45	total	total	ADJ
ftr-309	650	46	income	income	NOUN
ftr-309	650	47	,	,	PUNCT
ftr-309	650	48	regardless	regardless	ADV
ftr-309	650	49	of	of	ADP
ftr-309	650	50	how	how	SCONJ
ftr-309	650	51	much	much	ADJ
ftr-309	650	52	of	of	ADP
ftr-309	650	53	the	the	DET
ftr-309	650	54	income	income	NOUN
ftr-309	650	55	is	be	AUX
ftr-309	650	56	u.s	u.s	PROPN
ftr-309	650	57	.	.	PROPN
ftr-309	650	58	source	source	NOUN
ftr-309	650	59	and	and	CCONJ
ftr-309	650	60	how	how	SCONJ
ftr-309	650	61	much	much	ADJ
ftr-309	650	62	is	be	AUX
ftr-309	650	63	u.k	u.k	PROPN
ftr-309	650	64	.	.	PROPN
ftr-309	650	65	source.1	source.1	PROPN
ftr-309	650	66	13	13	NUM
ftr-309	650	67	in	in	ADP
ftr-309	650	68	summary	summary	NOUN
ftr-309	650	69	,	,	PUNCT
ftr-309	650	70	the	the	DET
ftr-309	650	71	allocations	allocation	NOUN
ftr-309	650	72	in	in	ADP
ftr-309	650	73	the	the	DET
ftr-309	650	74	agreement	agreement	NOUN
ftr-309	650	75	described	describe	VERB
ftr-309	650	76	in	in	ADP
ftr-309	650	77	example	example	NOUN
ftr-309	650	78	3	3	NUM
ftr-309	650	79	allow	allow	VERB
ftr-309	650	80	ron	ron	PROPN
ftr-309	650	81	to	to	PART
ftr-309	650	82	save	save	VERB
ftr-309	650	83	$	$	SYM
ftr-309	650	84	52.50	52.50	NUM
ftr-309	650	85	of	of	ADP
ftr-309	650	86	tax	tax	NOUN
ftr-309	650	87	liability	liability	NOUN
ftr-309	650	88	without	without	ADP
ftr-309	650	89	affecting	affect	VERB
ftr-309	650	90	anne	anne	PROPN
ftr-309	650	91	's	's	PART
ftr-309	650	92	tax	tax	NOUN
ftr-309	650	93	liability	liability	NOUN
ftr-309	650	94	or	or	CCONJ
ftr-309	650	95	the	the	DET
ftr-309	650	96	amount	amount	NOUN
ftr-309	650	97	of	of	ADP
ftr-309	650	98	cash	cash	NOUN
ftr-309	650	99	received	receive	VERB
ftr-309	650	100	by	by	ADP
ftr-309	650	101	either	either	DET
ftr-309	650	102	partner	partner	NOUN
ftr-309	650	103	.	.	PUNCT
ftr-309	651	1	thus	thus	ADV
ftr-309	651	2	,	,	PUNCT
ftr-309	651	3	the	the	DET
ftr-309	651	4	allocations	allocation	NOUN
ftr-309	651	5	are	be	AUX
ftr-309	651	6	entirely	entirely	ADV
ftr-309	651	7	tax	tax	NOUN
ftr-309	651	8	-	-	PUNCT
ftr-309	651	9	motivated	motivated	ADJ
ftr-309	651	10	because	because	SCONJ
ftr-309	651	11	the	the	DET
ftr-309	651	12	allocations	allocation	NOUN
ftr-309	651	13	have	have	VERB
ftr-309	651	14	no	no	DET
ftr-309	651	15	effect	effect	NOUN
ftr-309	651	16	other	other	ADJ
ftr-309	651	17	than	than	SCONJ
ftr-309	651	18	to	to	PART
ftr-309	651	19	reduce	reduce	VERB
ftr-309	651	20	ron	ron	PROPN
ftr-309	651	21	's	's	PART
ftr-309	651	22	tax	tax	NOUN
ftr-309	651	23	liability	liability	NOUN
ftr-309	651	24	.	.	PUNCT
ftr-309	652	1	the	the	DET
ftr-309	652	2	second	second	ADJ
ftr-309	652	3	prong	prong	NOUN
ftr-309	652	4	of	of	ADP
ftr-309	652	5	substantial	substantial	ADJ
ftr-309	652	6	economic	economic	ADJ
ftr-309	652	7	effect	effect	NOUN
ftr-309	652	8	(	(	PUNCT
ftr-309	652	9	the	the	DET
ftr-309	652	10	substantiality	substantiality	NOUN
ftr-309	652	11	requirement	requirement	NOUN
ftr-309	652	12	)	)	PUNCT
ftr-309	652	13	is	be	AUX
ftr-309	652	14	intended	intend	VERB
ftr-309	652	15	to	to	PART
ftr-309	652	16	disallow	disallow	VERB
ftr-309	652	17	tax	tax	NOUN
ftr-309	652	18	-	-	PUNCT
ftr-309	652	19	motivated	motivate	VERB
ftr-309	652	20	allocation	allocation	NOUN
ftr-309	652	21	schemes	scheme	NOUN
ftr-309	652	22	like	like	ADP
ftr-309	652	23	the	the	DET
ftr-309	652	24	one	one	NOUN
ftr-309	652	25	described	describe	VERB
ftr-309	652	26	in	in	ADP
ftr-309	652	27	example	example	NOUN
ftr-309	652	28	3	3	NUM
ftr-309	652	29	and	and	CCONJ
ftr-309	652	30	other	other	ADJ
ftr-309	652	31	schemes	scheme	NOUN
ftr-309	652	32	that	that	SCONJ
ftr-309	652	33	economic	economic	ADJ
ftr-309	652	34	effect	effect	NOUN
ftr-309	652	35	,	,	PUNCT
ftr-309	652	36	alone	alone	ADV
ftr-309	652	37	,	,	PUNCT
ftr-309	652	38	would	would	AUX
ftr-309	652	39	not	not	PART
ftr-309	652	40	prevent.1	prevent.1	VERB
ftr-309	652	41	14	14	NUM
ftr-309	652	42	in	in	ADP
ftr-309	652	43	order	order	NOUN
ftr-309	652	44	to	to	PART
ftr-309	652	45	comply	comply	VERB
ftr-309	652	46	with	with	ADP
ftr-309	652	47	substantiality	substantiality	NOUN
ftr-309	652	48	,	,	PUNCT
ftr-309	652	49	allocations	allocation	NOUN
ftr-309	652	50	in	in	ADP
ftr-309	652	51	a	a	DET
ftr-309	652	52	partnership	partnership	NOUN
ftr-309	652	53	agreement	agreement	NOUN
ftr-309	652	54	must	must	AUX
ftr-309	652	55	overcome	overcome	VERB
ftr-309	652	56	a	a	DET
ftr-309	652	57	number	number	NOUN
ftr-309	652	58	of	of	ADP
ftr-309	652	59	obstacles	obstacle	NOUN
ftr-309	652	60	,	,	PUNCT
ftr-309	652	61	the	the	DET
ftr-309	652	62	most	most	ADV
ftr-309	652	63	stringent	stringent	NOUN
ftr-309	652	64	of	of	ADP
ftr-309	652	65	which	which	PRON
ftr-309	652	66	is	be	AUX
ftr-309	652	67	contained	contain	VERB
ftr-309	652	68	in	in	ADP
ftr-309	652	69	regulations	regulation	NOUN
ftr-309	652	70	section	section	NOUN
ftr-309	652	71	1.7041	1.7041	NUM
ftr-309	652	72	(	(	PUNCT
ftr-309	652	73	b)(2)(iii)(a	b)(2)(iii)(a	PROPN
ftr-309	652	74	)	)	PUNCT
ftr-309	652	75	which	which	PRON
ftr-309	652	76	provides	provide	VERB
ftr-309	652	77	:	:	PUNCT
ftr-309	652	78	113	113	NUM
ftr-309	652	79	.	.	PUNCT
ftr-309	653	1	this	this	DET
ftr-309	653	2	analysis	analysis	NOUN
ftr-309	653	3	ignores	ignore	VERB
ftr-309	653	4	the	the	DET
ftr-309	653	5	effect	effect	NOUN
ftr-309	653	6	of	of	ADP
ftr-309	653	7	the	the	DET
ftr-309	653	8	allocations	allocation	NOUN
ftr-309	653	9	,	,	PUNCT
ftr-309	653	10	if	if	SCONJ
ftr-309	653	11	any	any	PRON
ftr-309	653	12	,	,	PUNCT
ftr-309	653	13	on	on	ADP
ftr-309	653	14	anne	anne	PROPN
ftr-309	653	15	's	's	PART
ftr-309	653	16	ability	ability	NOUN
ftr-309	653	17	to	to	PART
ftr-309	653	18	use	use	VERB
ftr-309	653	19	foreign	foreign	ADJ
ftr-309	653	20	tax	tax	NOUN
ftr-309	653	21	credits	credit	NOUN
ftr-309	653	22	.	.	PUNCT
ftr-309	654	1	114	114	NUM
ftr-309	654	2	.	.	PUNCT
ftr-309	655	1	terence	terence	PROPN
ftr-309	655	2	floyd	floyd	PROPN
ftr-309	655	3	cuff	cuff	PROPN
ftr-309	655	4	,	,	PUNCT
ftr-309	655	5	proposed	propose	VERB
ftr-309	655	6	regulations	regulation	NOUN
ftr-309	655	7	try	try	VERB
ftr-309	655	8	unsuccessfully	unsuccessfully	ADV
ftr-309	655	9	to	to	PART
ftr-309	655	10	fix	fix	VERB
ftr-309	655	11	a	a	DET
ftr-309	655	12	broken	broken	ADJ
ftr-309	655	13	set	set	NOUN
ftr-309	655	14	of	of	ADP
ftr-309	655	15	substantiality	substantiality	NOUN
ftr-309	655	16	rules	rule	NOUN
ftr-309	655	17	,	,	PUNCT
ftr-309	655	18	104	104	NUM
ftr-309	655	19	j.	j.	NOUN
ftr-309	655	20	tax'n	tax'n	PROPN
ftr-309	655	21	280	280	NUM
ftr-309	655	22	,	,	PUNCT
ftr-309	655	23	282	282	NUM
ftr-309	655	24	(	(	PUNCT
ftr-309	655	25	2006	2006	NUM
ftr-309	655	26	)	)	PUNCT
ftr-309	655	27	(	(	PUNCT
ftr-309	655	28	"	"	PUNCT
ftr-309	655	29	the	the	DET
ftr-309	655	30	aftertax	aftertax	ADJ
ftr-309	655	31	filter	filter	NOUN
ftr-309	655	32	of	of	ADP
ftr-309	655	33	'	'	PUNCT
ftr-309	655	34	substantiality	substantiality	NOUN
ftr-309	655	35	'	'	PUNCT
ftr-309	655	36	in	in	ADP
ftr-309	655	37	the	the	DET
ftr-309	655	38	regulations	regulation	NOUN
ftr-309	655	39	represents	represent	VERB
ftr-309	655	40	an	an	DET
ftr-309	655	41	effort	effort	NOUN
ftr-309	655	42	to	to	PART
ftr-309	655	43	objectify	objectify	VERB
ftr-309	655	44	what	what	PRON
ftr-309	655	45	is	be	AUX
ftr-309	655	46	an	an	DET
ftr-309	655	47	inherently	inherently	ADV
ftr-309	655	48	subjective	subjective	ADJ
ftr-309	655	49	inquiry	inquiry	NOUN
ftr-309	655	50	whether	whether	SCONJ
ftr-309	655	51	the	the	DET
ftr-309	655	52	transaction	transaction	NOUN
ftr-309	655	53	is	be	AUX
ftr-309	655	54	motivated	motivate	VERB
ftr-309	655	55	by	by	ADP
ftr-309	655	56	business	business	NOUN
ftr-309	655	57	profit	profit	NOUN
ftr-309	655	58	as	as	SCONJ
ftr-309	655	59	opposed	oppose	VERB
ftr-309	655	60	to	to	ADP
ftr-309	655	61	tax	tax	NOUN
ftr-309	655	62	profit	profit	NOUN
ftr-309	655	63	.	.	PUNCT
ftr-309	656	1	"	"	PUNCT
ftr-309	656	2	)	)	PUNCT
ftr-309	656	3	;	;	PUNCT
ftr-309	656	4	gergen	gergen	ADV
ftr-309	656	5	,	,	PUNCT
ftr-309	656	6	reforming	reform	VERB
ftr-309	656	7	subchapter	subchapter	NOUN
ftr-309	656	8	k	k	NOUN
ftr-309	656	9	,	,	PUNCT
ftr-309	656	10	supra	supra	PROPN
ftr-309	656	11	note	note	NOUN
ftr-309	656	12	110	110	NUM
ftr-309	656	13	,	,	PUNCT
ftr-309	656	14	at	at	ADP
ftr-309	656	15	15	15	NUM
ftr-309	656	16	(	(	PUNCT
ftr-309	656	17	an	an	DET
ftr-309	656	18	allocation	allocation	NOUN
ftr-309	656	19	that	that	PRON
ftr-309	656	20	violates	violate	VERB
ftr-309	656	21	substantiality	substantiality	NOUN
ftr-309	656	22	is	be	AUX
ftr-309	656	23	"	"	PUNCT
ftr-309	656	24	likely	likely	ADJ
ftr-309	656	25	to	to	PART
ftr-309	656	26	be	be	AUX
ftr-309	656	27	tax	tax	NOUN
ftr-309	656	28	driven	drive	VERB
ftr-309	656	29	since	since	SCONJ
ftr-309	656	30	the	the	DET
ftr-309	656	31	partner	partner	NOUN
ftr-309	656	32	who	who	PRON
ftr-309	656	33	benefits	benefit	VERB
ftr-309	656	34	from	from	ADP
ftr-309	656	35	the	the	DET
ftr-309	656	36	allocation	allocation	NOUN
ftr-309	656	37	will	will	AUX
ftr-309	656	38	seek	seek	VERB
ftr-309	656	39	it	it	PRON
ftr-309	656	40	for	for	ADP
ftr-309	656	41	tax	tax	NOUN
ftr-309	656	42	reasons	reason	NOUN
ftr-309	656	43	and	and	CCONJ
ftr-309	656	44	the	the	DET
ftr-309	656	45	other	other	ADJ
ftr-309	656	46	partner	partner	NOUN
ftr-309	656	47	will	will	AUX
ftr-309	656	48	be	be	AUX
ftr-309	656	49	(	(	PUNCT
ftr-309	656	50	at	at	ADP
ftr-309	656	51	worst	bad	ADJ
ftr-309	656	52	)	)	PUNCT
ftr-309	656	53	indifferent	indifferent	ADJ
ftr-309	656	54	to	to	ADP
ftr-309	656	55	it	it	PRON
ftr-309	656	56	"	"	PUNCT
ftr-309	656	57	)	)	PUNCT
ftr-309	656	58	;	;	PUNCT
ftr-309	656	59	monroe	monroe	PROPN
ftr-309	656	60	,	,	PUNCT
ftr-309	656	61	too	too	ADV
ftr-309	656	62	big	big	ADJ
ftr-309	656	63	to	to	PART
ftr-309	656	64	fail	fail	VERB
ftr-309	656	65	,	,	PUNCT
ftr-309	656	66	supra	supra	PROPN
ftr-309	656	67	note	note	NOUN
ftr-309	656	68	81	81	NUM
ftr-309	656	69	,	,	PUNCT
ftr-309	656	70	at	at	ADP
ftr-309	656	71	487	487	NUM
ftr-309	656	72	;	;	PUNCT
ftr-309	656	73	polsky	polsky	NOUN
ftr-309	656	74	,	,	PUNCT
ftr-309	656	75	deterring	deterring	NOUN
ftr-309	656	76	,	,	PUNCT
ftr-309	657	1	supra	supra	PROPN
ftr-309	657	2	note	note	NOUN
ftr-309	657	3	82	82	NUM
ftr-309	657	4	,	,	PUNCT
ftr-309	657	5	at	at	ADP
ftr-309	657	6	99	99	NUM
ftr-309	657	7	(	(	PUNCT
ftr-309	657	8	"	"	PUNCT
ftr-309	657	9	if	if	SCONJ
ftr-309	657	10	a	a	DET
ftr-309	657	11	partnership	partnership	NOUN
ftr-309	657	12	expects	expect	VERB
ftr-309	657	13	to	to	PART
ftr-309	657	14	receive	receive	VERB
ftr-309	657	15	different	different	ADJ
ftr-309	657	16	types	type	NOUN
ftr-309	657	17	of	of	ADP
ftr-309	657	18	income	income	NOUN
ftr-309	657	19	or	or	CCONJ
ftr-309	657	20	gain	gain	NOUN
ftr-309	657	21	,	,	PUNCT
ftr-309	657	22	or	or	CCONJ
ftr-309	657	23	different	different	ADJ
ftr-309	657	24	types	type	NOUN
ftr-309	657	25	of	of	ADP
ftr-309	657	26	deduction	deduction	NOUN
ftr-309	657	27	or	or	CCONJ
ftr-309	657	28	loss	loss	NOUN
ftr-309	657	29	,	,	PUNCT
ftr-309	657	30	the	the	DET
ftr-309	657	31	partnership	partnership	NOUN
ftr-309	657	32	could	could	AUX
ftr-309	657	33	consistent	consistent	VERB
ftr-309	657	34	with	with	ADP
ftr-309	657	35	the	the	DET
ftr-309	657	36	economic	economic	ADJ
ftr-309	657	37	effect	effect	NOUN
ftr-309	657	38	prong	prong	NOUN
ftr-309	657	39	still	still	ADV
ftr-309	657	40	allocate	allocate	VERB
ftr-309	657	41	the	the	DET
ftr-309	657	42	items	item	NOUN
ftr-309	657	43	in	in	ADP
ftr-309	657	44	a	a	DET
ftr-309	657	45	tax	tax	NOUN
ftr-309	657	46	-	-	PUNCT
ftr-309	657	47	advantaged	advantaged	ADJ
ftr-309	657	48	way	way	NOUN
ftr-309	657	49	while	while	SCONJ
ftr-309	657	50	not	not	PART
ftr-309	657	51	changing	change	VERB
ftr-309	657	52	the	the	DET
ftr-309	657	53	real	real	ADJ
ftr-309	657	54	,	,	PUNCT
ftr-309	657	55	overall	overall	ADJ
ftr-309	657	56	economic	economic	ADJ
ftr-309	657	57	deal	deal	NOUN
ftr-309	657	58	...	...	PUNCT
ftr-309	657	59	.	.	PUNCT
ftr-309	658	1	the	the	DET
ftr-309	658	2	second	second	ADJ
ftr-309	658	3	prong	prong	NOUN
ftr-309	658	4	of	of	ADP
ftr-309	658	5	the	the	DET
ftr-309	658	6	substantial	substantial	ADJ
ftr-309	658	7	economic	economic	ADJ
ftr-309	658	8	effect	effect	NOUN
ftr-309	658	9	test	test	NOUN
ftr-309	658	10	(	(	PUNCT
ftr-309	658	11	substantiality	substantiality	NOUN
ftr-309	658	12	)	)	PUNCT
ftr-309	658	13	is	be	AUX
ftr-309	658	14	intended	intend	VERB
ftr-309	658	15	to	to	PART
ftr-309	658	16	inhibit	inhibit	VERB
ftr-309	658	17	this	this	DET
ftr-309	658	18	type	type	NOUN
ftr-309	658	19	of	of	ADP
ftr-309	658	20	tax	tax	NOUN
ftr-309	658	21	planning	planning	NOUN
ftr-309	658	22	.	.	PUNCT
ftr-309	659	1	"	"	PUNCT
ftr-309	659	2	)	)	PUNCT
ftr-309	659	3	.	.	PUNCT
ftr-309	660	1	180	180	NUM
ftr-309	661	1	[	[	X
ftr-309	661	2	vol	vol	NOUN
ftr-309	661	3	.	.	PUNCT
ftr-309	661	4	14:5	14:5	NUM
ftr-309	661	5	2013	2013	NUM
ftr-309	661	6	]	]	PUNCT
ftr-309	661	7	was	be	AUX
ftr-309	661	8	blackstone	blackstone	NOUN
ftr-309	661	9	's	's	PART
ftr-309	661	10	initial	initial	ADJ
ftr-309	661	11	public	public	ADJ
ftr-309	661	12	offering	offering	NOUN
ftr-309	661	13	too	too	ADV
ftr-309	661	14	good	good	ADJ
ftr-309	661	15	to	to	PART
ftr-309	661	16	be	be	AUX
ftr-309	661	17	true	true	ADJ
ftr-309	661	18	?	?	PUNCT
ftr-309	662	1	[	[	X
ftr-309	662	2	t]he	t]he	ADV
ftr-309	662	3	economic	economic	ADJ
ftr-309	662	4	effect	effect	NOUN
ftr-309	662	5	of	of	ADP
ftr-309	662	6	an	an	DET
ftr-309	662	7	allocation	allocation	NOUN
ftr-309	662	8	.	.	PUNCT
ftr-309	663	1	..	..	PUNCT
ftr-309	663	2	is	be	AUX
ftr-309	663	3	not	not	PART
ftr-309	663	4	substantial	substantial	ADJ
ftr-309	663	5	if	if	SCONJ
ftr-309	663	6	,	,	PUNCT
ftr-309	663	7	at	at	ADP
ftr-309	663	8	the	the	DET
ftr-309	663	9	time	time	NOUN
ftr-309	663	10	the	the	DET
ftr-309	663	11	allocation	allocation	NOUN
ftr-309	663	12	becomes	become	VERB
ftr-309	663	13	part	part	NOUN
ftr-309	663	14	of	of	ADP
ftr-309	663	15	the	the	DET
ftr-309	663	16	partnership	partnership	NOUN
ftr-309	663	17	agreement	agreement	NOUN
ftr-309	663	18	,	,	PUNCT
ftr-309	663	19	(	(	PUNCT
ftr-309	663	20	1	1	X
ftr-309	663	21	)	)	PUNCT
ftr-309	663	22	the	the	DET
ftr-309	663	23	after	after	ADP
ftr-309	663	24	-	-	PUNCT
ftr-309	663	25	tax	tax	NOUN
ftr-309	663	26	consequences	consequence	NOUN
ftr-309	663	27	of	of	ADP
ftr-309	663	28	at	at	ADV
ftr-309	663	29	least	least	ADV
ftr-309	663	30	one	one	NUM
ftr-309	663	31	partner	partner	NOUN
ftr-309	663	32	may	may	AUX
ftr-309	663	33	,	,	PUNCT
ftr-309	663	34	in	in	ADP
ftr-309	663	35	present	present	ADJ
ftr-309	663	36	value	value	NOUN
ftr-309	663	37	terms	term	NOUN
ftr-309	663	38	,	,	PUNCT
ftr-309	663	39	be	be	AUX
ftr-309	663	40	enhanced	enhance	VERB
ftr-309	663	41	compared	compare	VERB
ftr-309	663	42	to	to	ADP
ftr-309	663	43	such	such	ADJ
ftr-309	663	44	consequences	consequence	NOUN
ftr-309	663	45	if	if	SCONJ
ftr-309	663	46	the	the	DET
ftr-309	663	47	allocation	allocation	NOUN
ftr-309	663	48	.	.	PUNCT
ftr-309	663	49	.	.	PUNCT
ftr-309	664	1	.	.	PUNCT
ftr-309	665	1	were	be	AUX
ftr-309	665	2	not	not	PART
ftr-309	665	3	contained	contain	VERB
ftr-309	665	4	in	in	ADP
ftr-309	665	5	the	the	DET
ftr-309	665	6	partnership	partnership	NOUN
ftr-309	665	7	agreement	agreement	NOUN
ftr-309	665	8	,	,	PUNCT
ftr-309	665	9	and	and	CCONJ
ftr-309	665	10	(	(	PUNCT
ftr-309	665	11	2	2	X
ftr-309	665	12	)	)	PUNCT
ftr-309	665	13	there	there	PRON
ftr-309	665	14	is	be	VERB
ftr-309	665	15	a	a	DET
ftr-309	665	16	strong	strong	ADJ
ftr-309	665	17	likelihood	likelihood	NOUN
ftr-309	665	18	that	that	SCONJ
ftr-309	665	19	the	the	DET
ftr-309	665	20	after	after	ADP
ftr-309	665	21	-	-	PUNCT
ftr-309	665	22	tax	tax	NOUN
ftr-309	665	23	consequences	consequence	NOUN
ftr-309	665	24	of	of	ADP
ftr-309	665	25	no	no	DET
ftr-309	665	26	partner	partner	NOUN
ftr-309	665	27	will	will	AUX
ftr-309	665	28	,	,	PUNCT
ftr-309	665	29	in	in	ADP
ftr-309	665	30	present	present	ADJ
ftr-309	665	31	value	value	NOUN
ftr-309	665	32	terms	term	NOUN
ftr-309	665	33	,	,	PUNCT
ftr-309	665	34	be	be	AUX
ftr-309	665	35	substantially	substantially	ADV
ftr-309	665	36	diminished	diminish	VERB
ftr-309	665	37	compared	compare	VERB
ftr-309	665	38	to	to	ADP
ftr-309	665	39	such	such	ADJ
ftr-309	665	40	consequences	consequence	NOUN
ftr-309	665	41	if	if	SCONJ
ftr-309	665	42	the	the	DET
ftr-309	665	43	allocation	allocation	NOUN
ftr-309	665	44	...	...	PUNCT
ftr-309	665	45	were	be	AUX
ftr-309	665	46	not	not	PART
ftr-309	665	47	contained	contain	VERB
ftr-309	665	48	in	in	ADP
ftr-309	665	49	the	the	DET
ftr-309	665	50	partnership	partnership	NOUN
ftr-309	665	51	agreement.115	agreement.115	PROPN
ftr-309	665	52	in	in	ADP
ftr-309	665	53	short	short	ADJ
ftr-309	665	54	,	,	PUNCT
ftr-309	665	55	an	an	DET
ftr-309	665	56	allocation	allocation	NOUN
ftr-309	665	57	lacks	lack	VERB
ftr-309	665	58	substantiality	substantiality	NOUN
ftr-309	665	59	if	if	SCONJ
ftr-309	665	60	it	it	PRON
ftr-309	665	61	may	may	AUX
ftr-309	665	62	make	make	VERB
ftr-309	665	63	one	one	NUM
ftr-309	665	64	partner	partner	NOUN
ftr-309	665	65	better	well	ADV
ftr-309	665	66	off	off	ADV
ftr-309	665	67	(	(	PUNCT
ftr-309	665	68	after	after	ADP
ftr-309	665	69	tax	tax	NOUN
ftr-309	665	70	)	)	PUNCT
ftr-309	665	71	and	and	CCONJ
ftr-309	665	72	is	be	AUX
ftr-309	665	73	not	not	PART
ftr-309	665	74	likely	likely	ADJ
ftr-309	665	75	to	to	PART
ftr-309	665	76	make	make	VERB
ftr-309	665	77	any	any	DET
ftr-309	665	78	partner	partner	NOUN
ftr-309	665	79	substantially	substantially	ADV
ftr-309	665	80	worse	bad	ADJ
ftr-309	665	81	off	off	ADP
ftr-309	665	82	(	(	PUNCT
ftr-309	665	83	after	after	ADP
ftr-309	665	84	tax	tax	NOUN
ftr-309	665	85	)	)	PUNCT
ftr-309	665	86	compared	compare	VERB
ftr-309	665	87	to	to	ADP
ftr-309	665	88	what	what	PRON
ftr-309	665	89	would	would	AUX
ftr-309	665	90	occur	occur	VERB
ftr-309	665	91	if	if	SCONJ
ftr-309	665	92	the	the	DET
ftr-309	665	93	allocation	allocation	NOUN
ftr-309	665	94	were	be	AUX
ftr-309	665	95	not	not	PART
ftr-309	665	96	in	in	ADP
ftr-309	665	97	the	the	DET
ftr-309	665	98	partnership	partnership	NOUN
ftr-309	665	99	agreement	agreement	NOUN
ftr-309	665	100	.	.	PUNCT
ftr-309	665	101	'	'	PUNCT
ftr-309	666	1	16	16	NUM
ftr-309	666	2	applying	apply	VERB
ftr-309	666	3	this	this	DET
ftr-309	666	4	test	test	NOUN
ftr-309	666	5	to	to	PART
ftr-309	666	6	example	example	VERB
ftr-309	666	7	3	3	NUM
ftr-309	666	8	reveals	reveal	VERB
ftr-309	666	9	that	that	SCONJ
ftr-309	666	10	the	the	DET
ftr-309	666	11	allocations	allocation	NOUN
ftr-309	666	12	lack	lack	VERB
ftr-309	666	13	substantiality	substantiality	NOUN
ftr-309	666	14	.	.	PUNCT
ftr-309	667	1	in	in	ADP
ftr-309	667	2	order	order	NOUN
ftr-309	667	3	to	to	PART
ftr-309	667	4	apply	apply	VERB
ftr-309	667	5	the	the	DET
ftr-309	667	6	test	test	NOUN
ftr-309	667	7	,	,	PUNCT
ftr-309	667	8	we	we	PRON
ftr-309	667	9	compare	compare	VERB
ftr-309	667	10	what	what	PRON
ftr-309	667	11	each	each	DET
ftr-309	667	12	partner	partner	NOUN
ftr-309	667	13	is	be	AUX
ftr-309	667	14	likely	likely	ADJ
ftr-309	667	15	to	to	PART
ftr-309	667	16	receive	receive	VERB
ftr-309	667	17	,	,	PUNCT
ftr-309	667	18	after	after	ADP
ftr-309	667	19	tax	tax	NOUN
ftr-309	667	20	,	,	PUNCT
ftr-309	667	21	as	as	ADP
ftr-309	667	22	a	a	DET
ftr-309	667	23	result	result	NOUN
ftr-309	667	24	of	of	ADP
ftr-309	667	25	the	the	DET
ftr-309	667	26	allocations	allocation	NOUN
ftr-309	667	27	to	to	ADP
ftr-309	667	28	what	what	PRON
ftr-309	667	29	each	each	DET
ftr-309	667	30	partner	partner	NOUN
ftr-309	667	31	would	would	AUX
ftr-309	667	32	have	have	AUX
ftr-309	667	33	received	receive	VERB
ftr-309	667	34	if	if	SCONJ
ftr-309	667	35	the	the	DET
ftr-309	667	36	partnership	partnership	NOUN
ftr-309	667	37	allocated	allocate	VERB
ftr-309	667	38	each	each	DET
ftr-309	667	39	type	type	NOUN
ftr-309	667	40	of	of	ADP
ftr-309	667	41	income	income	NOUN
ftr-309	667	42	to	to	ADP
ftr-309	667	43	each	each	DET
ftr-309	667	44	partner	partner	NOUN
ftr-309	667	45	pro	pro	ADJ
ftr-309	667	46	rata	rata	NOUN
ftr-309	667	47	based	base	VERB
ftr-309	667	48	on	on	ADP
ftr-309	667	49	the	the	DET
ftr-309	667	50	capital	capital	NOUN
ftr-309	667	51	each	each	DET
ftr-309	667	52	partner	partner	NOUN
ftr-309	667	53	contributed	contribute	VERB
ftr-309	667	54	(	(	PUNCT
ftr-309	667	55	or	or	CCONJ
ftr-309	667	56	50	50	NUM
ftr-309	667	57	percent	percent	NOUN
ftr-309	667	58	to	to	ADP
ftr-309	667	59	each	each	DET
ftr-309	667	60	partner	partner	NOUN
ftr-309	667	61	)	)	PUNCT
ftr-309	667	62	.	.	PUNCT
ftr-309	668	1	"	"	PUNCT
ftr-309	668	2	'	'	PUNCT
ftr-309	668	3	at	at	ADP
ftr-309	668	4	the	the	DET
ftr-309	668	5	time	time	NOUN
ftr-309	668	6	the	the	DET
ftr-309	668	7	partners	partner	NOUN
ftr-309	668	8	agree	agree	VERB
ftr-309	668	9	to	to	PART
ftr-309	668	10	allocate	allocate	VERB
ftr-309	668	11	items	item	NOUN
ftr-309	668	12	as	as	ADP
ftr-309	668	13	115	115	NUM
ftr-309	668	14	.	.	PUNCT
ftr-309	669	1	there	there	PRON
ftr-309	669	2	are	be	VERB
ftr-309	669	3	other	other	ADJ
ftr-309	669	4	hurdles	hurdle	NOUN
ftr-309	669	5	that	that	PRON
ftr-309	669	6	an	an	DET
ftr-309	669	7	allocation	allocation	NOUN
ftr-309	669	8	must	must	AUX
ftr-309	669	9	overcome	overcome	VERB
ftr-309	669	10	in	in	ADP
ftr-309	669	11	order	order	NOUN
ftr-309	669	12	for	for	ADP
ftr-309	669	13	the	the	DET
ftr-309	669	14	allocation	allocation	NOUN
ftr-309	669	15	to	to	PART
ftr-309	669	16	pass	pass	VERB
ftr-309	669	17	substantiality	substantiality	NOUN
ftr-309	669	18	.	.	PUNCT
ftr-309	670	1	for	for	ADP
ftr-309	670	2	example	example	NOUN
ftr-309	670	3	,	,	PUNCT
ftr-309	670	4	the	the	DET
ftr-309	670	5	allocation	allocation	NOUN
ftr-309	670	6	can	can	AUX
ftr-309	670	7	not	not	PART
ftr-309	670	8	be	be	AUX
ftr-309	670	9	a	a	DET
ftr-309	670	10	"	"	PUNCT
ftr-309	670	11	shifting	shift	VERB
ftr-309	670	12	allocation	allocation	NOUN
ftr-309	670	13	"	"	PUNCT
ftr-309	670	14	and	and	CCONJ
ftr-309	670	15	the	the	DET
ftr-309	670	16	allocation	allocation	NOUN
ftr-309	670	17	can	can	AUX
ftr-309	670	18	not	not	PART
ftr-309	670	19	be	be	AUX
ftr-309	670	20	a	a	DET
ftr-309	670	21	"	"	PUNCT
ftr-309	670	22	transitory	transitory	ADJ
ftr-309	670	23	allocation	allocation	NOUN
ftr-309	670	24	.	.	PUNCT
ftr-309	670	25	"	"	PUNCT
ftr-309	671	1	see	see	VERB
ftr-309	671	2	regs	reg	NOUN
ftr-309	671	3	.	.	PUNCT
ftr-309	672	1	§	§	PROPN
ftr-309	672	2	§	§	PROPN
ftr-309	672	3	1.704	1.704	NUM
ftr-309	672	4	-	-	NUM
ftr-309	672	5	1(b)(2)(iii)(b	1(b)(2)(iii)(b	NUM
ftr-309	672	6	)	)	PUNCT
ftr-309	672	7	,	,	PUNCT
ftr-309	672	8	(	(	PUNCT
ftr-309	672	9	c	c	NOUN
ftr-309	672	10	)	)	PUNCT
ftr-309	672	11	.	.	PUNCT
ftr-309	673	1	consideration	consideration	NOUN
ftr-309	673	2	of	of	ADP
ftr-309	673	3	these	these	DET
ftr-309	673	4	tests	test	NOUN
ftr-309	673	5	,	,	PUNCT
ftr-309	673	6	however	however	ADV
ftr-309	673	7	,	,	PUNCT
ftr-309	673	8	is	be	AUX
ftr-309	673	9	not	not	PART
ftr-309	673	10	necessary	necessary	ADJ
ftr-309	673	11	for	for	ADP
ftr-309	673	12	purposes	purpose	NOUN
ftr-309	673	13	of	of	ADP
ftr-309	673	14	understanding	understand	VERB
ftr-309	673	15	the	the	DET
ftr-309	673	16	analysis	analysis	NOUN
ftr-309	673	17	described	describe	VERB
ftr-309	673	18	in	in	ADP
ftr-309	673	19	this	this	DET
ftr-309	673	20	article	article	NOUN
ftr-309	673	21	.	.	PUNCT
ftr-309	674	1	116	116	NUM
ftr-309	674	2	.	.	PUNCT
ftr-309	675	1	regarding	regard	VERB
ftr-309	675	2	what	what	PRON
ftr-309	675	3	occurs	occur	VERB
ftr-309	675	4	if	if	SCONJ
ftr-309	675	5	the	the	DET
ftr-309	675	6	allocation	allocation	NOUN
ftr-309	675	7	were	be	AUX
ftr-309	675	8	not	not	PART
ftr-309	675	9	in	in	ADP
ftr-309	675	10	the	the	DET
ftr-309	675	11	partnership	partnership	NOUN
ftr-309	675	12	agreement	agreement	NOUN
ftr-309	675	13	,	,	PUNCT
ftr-309	675	14	the	the	DET
ftr-309	675	15	treasury	treasury	PROPN
ftr-309	675	16	regulations	regulation	NOUN
ftr-309	675	17	instruct	instruct	VERB
ftr-309	675	18	us	we	PRON
ftr-309	675	19	to	to	PART
ftr-309	675	20	determine	determine	VERB
ftr-309	675	21	what	what	PRON
ftr-309	675	22	would	would	AUX
ftr-309	675	23	occur	occur	VERB
ftr-309	675	24	if	if	SCONJ
ftr-309	675	25	everything	everything	PRON
ftr-309	675	26	were	be	AUX
ftr-309	675	27	allocated	allocate	VERB
ftr-309	675	28	based	base	VERB
ftr-309	675	29	on	on	ADP
ftr-309	675	30	pip	pip	PROPN
ftr-309	675	31	.	.	PUNCT
ftr-309	676	1	regs	regs	PROPN
ftr-309	676	2	.	.	PUNCT
ftr-309	677	1	§	§	PROPN
ftr-309	677	2	1.704	1.704	NUM
ftr-309	677	3	-	-	NUM
ftr-309	677	4	1(b)(2)(iii)(a	1(b)(2)(iii)(a	NUM
ftr-309	677	5	)	)	PUNCT
ftr-309	677	6	.	.	PUNCT
ftr-309	678	1	pip	pip	PROPN
ftr-309	678	2	is	be	AUX
ftr-309	678	3	a	a	DET
ftr-309	678	4	facts	fact	NOUN
ftr-309	678	5	and	and	CCONJ
ftr-309	678	6	circumstances	circumstance	NOUN
ftr-309	678	7	test	test	VERB
ftr-309	678	8	,	,	PUNCT
ftr-309	678	9	as	as	SCONJ
ftr-309	678	10	described	describe	VERB
ftr-309	678	11	above	above	ADV
ftr-309	678	12	.	.	PUNCT
ftr-309	679	1	see	see	VERB
ftr-309	679	2	supra	supra	PROPN
ftr-309	679	3	note	note	PROPN
ftr-309	679	4	90	90	NUM
ftr-309	679	5	.	.	PUNCT
ftr-309	680	1	furthermore	furthermore	ADV
ftr-309	680	2	,	,	PUNCT
ftr-309	680	3	for	for	ADP
ftr-309	680	4	purposes	purpose	NOUN
ftr-309	680	5	of	of	ADP
ftr-309	680	6	determining	determine	VERB
ftr-309	680	7	pip	pip	NOUN
ftr-309	680	8	that	that	PRON
ftr-309	680	9	is	be	AUX
ftr-309	680	10	used	use	VERB
ftr-309	680	11	as	as	ADP
ftr-309	680	12	a	a	DET
ftr-309	680	13	baseline	baseline	NOUN
ftr-309	680	14	for	for	ADP
ftr-309	680	15	testing	testing	NOUN
ftr-309	680	16	allocations	allocation	NOUN
ftr-309	680	17	for	for	ADP
ftr-309	680	18	substantiality	substantiality	NOUN
ftr-309	680	19	,	,	PUNCT
ftr-309	680	20	we	we	PRON
ftr-309	680	21	must	must	AUX
ftr-309	680	22	ignore	ignore	VERB
ftr-309	680	23	the	the	DET
ftr-309	680	24	potentially	potentially	ADV
ftr-309	680	25	suspect	suspect	ADJ
ftr-309	680	26	allocation	allocation	NOUN
ftr-309	680	27	that	that	PRON
ftr-309	680	28	is	be	AUX
ftr-309	680	29	being	be	AUX
ftr-309	680	30	evaluated	evaluate	VERB
ftr-309	680	31	.	.	PUNCT
ftr-309	681	1	regs	reg	NOUN
ftr-309	681	2	.	.	PUNCT
ftr-309	682	1	§	§	PROPN
ftr-309	682	2	1.704	1.704	NUM
ftr-309	682	3	-	-	NUM
ftr-309	682	4	1(b)(2)(iii)(a	1(b)(2)(iii)(a	NUM
ftr-309	682	5	)	)	PUNCT
ftr-309	682	6	(	(	PUNCT
ftr-309	682	7	"	"	PUNCT
ftr-309	682	8	references	reference	NOUN
ftr-309	682	9	in	in	ADP
ftr-309	682	10	this	this	DET
ftr-309	682	11	paragraph	paragraph	NOUN
ftr-309	682	12	(	(	PUNCT
ftr-309	682	13	b)(2)(iii	b)(2)(iii	PROPN
ftr-309	682	14	)	)	PUNCT
ftr-309	682	15	to	to	ADP
ftr-309	682	16	a	a	DET
ftr-309	682	17	comparison	comparison	NOUN
ftr-309	682	18	to	to	ADP
ftr-309	682	19	consequences	consequence	NOUN
ftr-309	682	20	arising	arise	VERB
ftr-309	682	21	if	if	SCONJ
ftr-309	682	22	an	an	DET
ftr-309	682	23	allocation	allocation	NOUN
ftr-309	682	24	.	.	PUNCT
ftr-309	682	25	.	.	PUNCT
ftr-309	683	1	.	.	PUNCT
ftr-309	684	1	were	be	AUX
ftr-309	684	2	not	not	PART
ftr-309	684	3	contained	contain	VERB
ftr-309	684	4	in	in	ADP
ftr-309	684	5	the	the	DET
ftr-309	684	6	partnership	partnership	NOUN
ftr-309	684	7	agreement	agreement	NOUN
ftr-309	684	8	mean	mean	VERB
ftr-309	684	9	that	that	SCONJ
ftr-309	684	10	the	the	DET
ftr-309	684	11	allocation	allocation	NOUN
ftr-309	684	12	.	.	PUNCT
ftr-309	685	1	..	..	PUNCT
ftr-309	685	2	is	be	AUX
ftr-309	685	3	determined	determine	VERB
ftr-309	685	4	in	in	ADP
ftr-309	685	5	accordance	accordance	NOUN
ftr-309	685	6	with	with	ADP
ftr-309	685	7	the	the	DET
ftr-309	685	8	partners	partner	NOUN
ftr-309	685	9	'	'	PART
ftr-309	685	10	interests	interest	NOUN
ftr-309	685	11	in	in	ADP
ftr-309	685	12	the	the	DET
ftr-309	685	13	partnership	partnership	NOUN
ftr-309	685	14	.	.	PUNCT
ftr-309	685	15	.	.	PUNCT
ftr-309	686	1	.	.	PUNCT
ftr-309	687	1	disregarding	disregard	VERB
ftr-309	687	2	the	the	DET
ftr-309	687	3	allocation	allocation	NOUN
ftr-309	687	4	.	.	PUNCT
ftr-309	687	5	.	.	PUNCT
ftr-309	688	1	.	.	PUNCT
ftr-309	689	1	being	be	AUX
ftr-309	689	2	tested	test	VERB
ftr-309	689	3	under	under	ADP
ftr-309	689	4	this	this	DET
ftr-309	689	5	paragraph	paragraph	NOUN
ftr-309	689	6	(	(	PUNCT
ftr-309	689	7	b)(2)(iii	b)(2)(iii	PROPN
ftr-309	689	8	)	)	PUNCT
ftr-309	689	9	.	.	PUNCT
ftr-309	690	1	"	"	PUNCT
ftr-309	690	2	)	)	PUNCT
ftr-309	690	3	(	(	PUNCT
ftr-309	690	4	emphasis	emphasis	NOUN
ftr-309	690	5	added	add	VERB
ftr-309	690	6	)	)	PUNCT
ftr-309	690	7	.	.	PUNCT
ftr-309	691	1	117	117	NUM
ftr-309	691	2	.	.	PUNCT
ftr-309	692	1	as	as	SCONJ
ftr-309	692	2	described	describe	VERB
ftr-309	692	3	above	above	ADV
ftr-309	692	4	,	,	PUNCT
ftr-309	692	5	to	to	PART
ftr-309	692	6	determine	determine	VERB
ftr-309	692	7	the	the	DET
ftr-309	692	8	partners	partner	NOUN
ftr-309	692	9	'	'	PART
ftr-309	692	10	interests	interest	NOUN
ftr-309	692	11	in	in	ADP
ftr-309	692	12	the	the	DET
ftr-309	692	13	partnership	partnership	NOUN
ftr-309	692	14	that	that	PRON
ftr-309	692	15	is	be	AUX
ftr-309	692	16	used	use	VERB
ftr-309	692	17	as	as	ADP
ftr-309	692	18	a	a	DET
ftr-309	692	19	baseline	baseline	NOUN
ftr-309	692	20	for	for	ADP
ftr-309	692	21	purposes	purpose	NOUN
ftr-309	692	22	of	of	ADP
ftr-309	692	23	testing	test	VERB
ftr-309	692	24	whether	whether	SCONJ
ftr-309	692	25	or	or	CCONJ
ftr-309	692	26	not	not	PART
ftr-309	692	27	allocations	allocation	NOUN
ftr-309	692	28	have	have	VERB
ftr-309	692	29	substantiality	substantiality	NOUN
ftr-309	692	30	,	,	PUNCT
ftr-309	692	31	one	one	PRON
ftr-309	692	32	must	must	AUX
ftr-309	692	33	examine	examine	VERB
ftr-309	692	34	all	all	DET
ftr-309	692	35	the	the	DET
ftr-309	692	36	facts	fact	NOUN
ftr-309	692	37	and	and	CCONJ
ftr-309	692	38	circumstances	circumstance	NOUN
ftr-309	692	39	that	that	PRON
ftr-309	692	40	relate	relate	VERB
ftr-309	692	41	to	to	ADP
ftr-309	692	42	the	the	DET
ftr-309	692	43	economic	economic	ADJ
ftr-309	692	44	arrangement	arrangement	NOUN
ftr-309	692	45	of	of	ADP
ftr-309	692	46	the	the	DET
ftr-309	692	47	partners	partner	NOUN
ftr-309	692	48	,	,	PUNCT
ftr-309	692	49	including	include	VERB
ftr-309	692	50	the	the	DET
ftr-309	692	51	following	following	NOUN
ftr-309	692	52	:	:	PUNCT
ftr-309	692	53	the	the	DET
ftr-309	692	54	partners	partner	NOUN
ftr-309	692	55	'	'	PART
ftr-309	692	56	relative	relative	ADJ
ftr-309	692	57	contributions	contribution	NOUN
ftr-309	692	58	to	to	ADP
ftr-309	692	59	the	the	DET
ftr-309	692	60	partnership	partnership	NOUN
ftr-309	692	61	,	,	PUNCT
ftr-309	692	62	the	the	DET
ftr-309	692	63	interests	interest	NOUN
ftr-309	692	64	of	of	ADP
ftr-309	692	65	the	the	DET
ftr-309	692	66	partners	partner	NOUN
ftr-309	692	67	in	in	ADP
ftr-309	692	68	economic	economic	ADJ
ftr-309	692	69	profits	profit	NOUN
ftr-309	692	70	and	and	CCONJ
ftr-309	692	71	losses	loss	NOUN
ftr-309	692	72	,	,	PUNCT
ftr-309	692	73	the	the	DET
ftr-309	692	74	interests	interest	NOUN
ftr-309	692	75	of	of	ADP
ftr-309	692	76	the	the	DET
ftr-309	692	77	partners	partner	NOUN
ftr-309	692	78	in	in	ADP
ftr-309	692	79	cash	cash	NOUN
ftr-309	692	80	flow	flow	NOUN
ftr-309	692	81	and	and	CCONJ
ftr-309	692	82	other	other	ADJ
ftr-309	692	83	nonliquidating	nonliquidate	VERB
ftr-309	692	84	distributions	distribution	NOUN
ftr-309	692	85	,	,	PUNCT
ftr-309	692	86	and	and	CCONJ
ftr-309	692	87	the	the	DET
ftr-309	692	88	rights	right	NOUN
ftr-309	692	89	of	of	ADP
ftr-309	692	90	the	the	DET
ftr-309	692	91	partners	partner	NOUN
ftr-309	692	92	to	to	ADP
ftr-309	692	93	distributions	distribution	NOUN
ftr-309	692	94	of	of	ADP
ftr-309	692	95	capital	capital	NOUN
ftr-309	692	96	upon	upon	SCONJ
ftr-309	692	97	liquidation	liquidation	NOUN
ftr-309	692	98	,	,	PUNCT
ftr-309	692	99	(	(	PUNCT
ftr-309	692	100	but	but	CCONJ
ftr-309	692	101	one	one	PRON
ftr-309	692	102	must	must	AUX
ftr-309	692	103	ignore	ignore	VERB
ftr-309	692	104	the	the	DET
ftr-309	692	105	allocation	allocation	NOUN
ftr-309	692	106	being	be	AUX
ftr-309	692	107	tested	test	VERB
ftr-309	692	108	)	)	PUNCT
ftr-309	692	109	.	.	PUNCT
ftr-309	693	1	see	see	VERB
ftr-309	693	2	supra	supra	PROPN
ftr-309	693	3	notes	note	VERB
ftr-309	693	4	90	90	NUM
ftr-309	693	5	,	,	PUNCT
ftr-309	693	6	181	181	NUM
ftr-309	693	7	florida	florida	PROPN
ftr-309	693	8	tax	tax	NOUN
ftr-309	693	9	review	review	NOUN
ftr-309	693	10	described	describe	VERB
ftr-309	693	11	in	in	ADP
ftr-309	693	12	example	example	NOUN
ftr-309	693	13	3	3	NUM
ftr-309	693	14	,	,	PUNCT
ftr-309	693	15	ron	ron	PROPN
ftr-309	693	16	's	's	PART
ftr-309	693	17	after	after	ADP
ftr-309	693	18	-	-	PUNCT
ftr-309	693	19	tax	tax	NOUN
ftr-309	693	20	consequences	consequence	NOUN
ftr-309	693	21	may	may	AUX
ftr-309	693	22	be	be	AUX
ftr-309	693	23	enhanced	enhance	VERB
ftr-309	693	24	compared	compare	VERB
ftr-309	693	25	to	to	ADP
ftr-309	693	26	what	what	PRON
ftr-309	693	27	would	would	AUX
ftr-309	693	28	occur	occur	VERB
ftr-309	693	29	if	if	SCONJ
ftr-309	693	30	he	he	PRON
ftr-309	693	31	were	be	AUX
ftr-309	693	32	allocated	allocate	VERB
ftr-309	693	33	50	50	NUM
ftr-309	693	34	percent	percent	NOUN
ftr-309	693	35	of	of	ADP
ftr-309	693	36	u.s	u.s	PROPN
ftr-309	693	37	.	.	PROPN
ftr-309	693	38	income	income	NOUN
ftr-309	693	39	and	and	CCONJ
ftr-309	693	40	50	50	NUM
ftr-309	693	41	percent	percent	NOUN
ftr-309	693	42	of	of	ADP
ftr-309	693	43	u.k	u.k	PROPN
ftr-309	693	44	.	.	PROPN
ftr-309	693	45	income	income	NOUN
ftr-309	693	46	.	.	PUNCT
ftr-309	694	1	in	in	ADP
ftr-309	694	2	particular	particular	ADJ
ftr-309	694	3	,	,	PUNCT
ftr-309	694	4	his	his	PRON
ftr-309	694	5	pre	pre	ADJ
ftr-309	694	6	-	-	ADJ
ftr-309	694	7	tax	tax	ADJ
ftr-309	694	8	consequences	consequence	NOUN
ftr-309	694	9	(	(	PUNCT
ftr-309	694	10	in	in	ADP
ftr-309	694	11	other	other	ADJ
ftr-309	694	12	words	word	NOUN
ftr-309	694	13	,	,	PUNCT
ftr-309	694	14	the	the	DET
ftr-309	694	15	amount	amount	NOUN
ftr-309	694	16	of	of	ADP
ftr-309	694	17	cash	cash	NOUN
ftr-309	694	18	he	he	PRON
ftr-309	694	19	receives	receive	VERB
ftr-309	694	20	)	)	PUNCT
ftr-309	694	21	will	will	AUX
ftr-309	694	22	remain	remain	VERB
ftr-309	694	23	unchanged	unchanged	ADJ
ftr-309	694	24	,	,	PUNCT
ftr-309	694	25	but	but	CCONJ
ftr-309	694	26	he	he	PRON
ftr-309	694	27	will	will	AUX
ftr-309	694	28	save	save	VERB
ftr-309	694	29	taxes	taxis	NOUN
ftr-309	694	30	as	as	ADV
ftr-309	694	31	long	long	ADV
ftr-309	694	32	as	as	SCONJ
ftr-309	694	33	the	the	DET
ftr-309	694	34	partnership	partnership	NOUN
ftr-309	694	35	recognizes	recognize	VERB
ftr-309	694	36	at	at	ADP
ftr-309	694	37	least	least	ADJ
ftr-309	694	38	some	some	DET
ftr-309	694	39	u.k	u.k	PROPN
ftr-309	694	40	.	.	PROPN
ftr-309	694	41	income	income	NOUN
ftr-309	694	42	and	and	CCONJ
ftr-309	694	43	at	at	ADP
ftr-309	694	44	least	least	ADJ
ftr-309	694	45	some	some	PRON
ftr-309	694	46	u.s	u.s	PROPN
ftr-309	694	47	.	.	PROPN
ftr-309	694	48	income	income	NOUN
ftr-309	694	49	(	(	PUNCT
ftr-309	694	50	because	because	SCONJ
ftr-309	694	51	rather	rather	ADV
ftr-309	694	52	than	than	ADP
ftr-309	694	53	being	be	AUX
ftr-309	694	54	allocated	allocate	VERB
ftr-309	694	55	50	50	NUM
ftr-309	694	56	percent	percent	NOUN
ftr-309	694	57	of	of	ADP
ftr-309	694	58	the	the	DET
ftr-309	694	59	u.s	u.s	PROPN
ftr-309	694	60	.	.	PROPN
ftr-309	694	61	income	income	NOUN
ftr-309	694	62	,	,	PUNCT
ftr-309	694	63	he	he	PRON
ftr-309	694	64	will	will	AUX
ftr-309	694	65	be	be	AUX
ftr-309	694	66	allocated	allocate	VERB
ftr-309	694	67	less	less	ADJ
ftr-309	694	68	u.s	u.s	PROPN
ftr-309	694	69	.	.	PROPN
ftr-309	694	70	income	income	NOUN
ftr-309	694	71	and	and	CCONJ
ftr-309	694	72	more	more	ADJ
ftr-309	694	73	u.k	u.k	PROPN
ftr-309	694	74	.	.	PROPN
ftr-309	694	75	income	income	NOUN
ftr-309	694	76	)	)	PUNCT
ftr-309	694	77	.	.	PUNCT
ftr-309	695	1	thus	thus	ADV
ftr-309	695	2	,	,	PUNCT
ftr-309	695	3	ron	ron	PROPN
ftr-309	695	4	may	may	AUX
ftr-309	695	5	be	be	AUX
ftr-309	695	6	better	well	ADJ
ftr-309	695	7	off	off	ADP
ftr-309	695	8	after	after	ADP
ftr-309	695	9	tax	tax	NOUN
ftr-309	695	10	(	(	PUNCT
ftr-309	695	11	and	and	CCONJ
ftr-309	695	12	is	be	AUX
ftr-309	695	13	,	,	PUNCT
ftr-309	695	14	indeed	indeed	ADV
ftr-309	695	15	,	,	PUNCT
ftr-309	695	16	better	well	ADV
ftr-309	695	17	off	off	ADP
ftr-309	695	18	after	after	ADP
ftr-309	695	19	tax	tax	NOUN
ftr-309	695	20	if	if	SCONJ
ftr-309	695	21	the	the	DET
ftr-309	695	22	partnership	partnership	NOUN
ftr-309	695	23	,	,	PUNCT
ftr-309	695	24	in	in	ADP
ftr-309	695	25	fact	fact	NOUN
ftr-309	695	26	,	,	PUNCT
ftr-309	695	27	recognizes	recognize	VERB
ftr-309	695	28	the	the	DET
ftr-309	695	29	amount	amount	NOUN
ftr-309	695	30	and	and	CCONJ
ftr-309	695	31	types	type	NOUN
ftr-309	695	32	of	of	ADP
ftr-309	695	33	income	income	NOUN
ftr-309	695	34	shown	show	VERB
ftr-309	695	35	in	in	ADP
ftr-309	695	36	example	example	NOUN
ftr-309	695	37	3	3	NUM
ftr-309	695	38	)	)	PUNCT
ftr-309	695	39	.	.	PUNCT
ftr-309	696	1	moreover	moreover	ADV
ftr-309	696	2	,	,	PUNCT
ftr-309	696	3	at	at	ADP
ftr-309	696	4	the	the	DET
ftr-309	696	5	time	time	NOUN
ftr-309	696	6	the	the	DET
ftr-309	696	7	partners	partner	NOUN
ftr-309	696	8	agree	agree	VERB
ftr-309	696	9	to	to	PART
ftr-309	696	10	allocate	allocate	VERB
ftr-309	696	11	items	item	NOUN
ftr-309	696	12	as	as	SCONJ
ftr-309	696	13	described	describe	VERB
ftr-309	696	14	in	in	ADP
ftr-309	696	15	example	example	NOUN
ftr-309	696	16	3	3	NUM
ftr-309	696	17	there	there	PRON
ftr-309	696	18	is	be	VERB
ftr-309	696	19	a	a	DET
ftr-309	696	20	strong	strong	ADJ
ftr-309	696	21	likelihood	likelihood	NOUN
ftr-309	696	22	(	(	PUNCT
ftr-309	696	23	in	in	ADP
ftr-309	696	24	fact	fact	NOUN
ftr-309	696	25	,	,	PUNCT
ftr-309	696	26	it	it	PRON
ftr-309	696	27	is	be	AUX
ftr-309	696	28	certain	certain	ADJ
ftr-309	696	29	)	)	PUNCT
ftr-309	696	30	that	that	SCONJ
ftr-309	696	31	anne	anne	PROPN
ftr-309	696	32	's	's	PART
ftr-309	696	33	after	after	ADP
ftr-309	696	34	-	-	PUNCT
ftr-309	696	35	tax	tax	NOUN
ftr-309	696	36	consequences	consequence	NOUN
ftr-309	696	37	will	will	AUX
ftr-309	696	38	not	not	PART
ftr-309	696	39	be	be	AUX
ftr-309	696	40	substantially	substantially	ADV
ftr-309	696	41	diminished	diminish	VERB
ftr-309	696	42	(	(	PUNCT
ftr-309	696	43	indeed	indeed	ADV
ftr-309	696	44	,	,	PUNCT
ftr-309	696	45	they	they	PRON
ftr-309	696	46	will	will	AUX
ftr-309	696	47	not	not	PART
ftr-309	696	48	be	be	AUX
ftr-309	696	49	diminished	diminish	VERB
ftr-309	696	50	at	at	ADV
ftr-309	696	51	all	all	ADV
ftr-309	696	52	)	)	PUNCT
ftr-309	696	53	compared	compare	VERB
ftr-309	696	54	to	to	ADP
ftr-309	696	55	what	what	PRON
ftr-309	696	56	would	would	AUX
ftr-309	696	57	occur	occur	VERB
ftr-309	696	58	if	if	SCONJ
ftr-309	696	59	anne	anne	PROPN
ftr-309	696	60	were	be	AUX
ftr-309	696	61	allocated	allocate	VERB
ftr-309	696	62	50	50	NUM
ftr-309	696	63	percent	percent	NOUN
ftr-309	696	64	of	of	ADP
ftr-309	696	65	u.s	u.s	PROPN
ftr-309	696	66	.	.	PROPN
ftr-309	696	67	income	income	NOUN
ftr-309	696	68	and	and	CCONJ
ftr-309	696	69	50	50	NUM
ftr-309	696	70	percent	percent	NOUN
ftr-309	696	71	of	of	ADP
ftr-309	696	72	u.k	u.k	PROPN
ftr-309	696	73	.	.	PROPN
ftr-309	696	74	income	income	PROPN
ftr-309	696	75	.	.	PUNCT
ftr-309	697	1	regardless	regardless	ADV
ftr-309	697	2	of	of	ADP
ftr-309	697	3	whether	whether	SCONJ
ftr-309	697	4	anne	anne	PROPN
ftr-309	697	5	is	be	AUX
ftr-309	697	6	allocated	allocate	VERB
ftr-309	697	7	50	50	NUM
ftr-309	697	8	percent	percent	NOUN
ftr-309	697	9	of	of	ADP
ftr-309	697	10	each	each	DET
ftr-309	697	11	type	type	NOUN
ftr-309	697	12	of	of	ADP
ftr-309	697	13	income	income	NOUN
ftr-309	697	14	or	or	CCONJ
ftr-309	697	15	50	50	NUM
ftr-309	697	16	percent	percent	NOUN
ftr-309	697	17	of	of	ADP
ftr-309	697	18	total	total	ADJ
ftr-309	697	19	income	income	NOUN
ftr-309	697	20	(	(	PUNCT
ftr-309	697	21	with	with	ADP
ftr-309	697	22	a	a	DET
ftr-309	697	23	mix	mix	NOUN
ftr-309	697	24	that	that	PRON
ftr-309	697	25	might	might	AUX
ftr-309	697	26	involve	involve	VERB
ftr-309	697	27	more	more	ADJ
ftr-309	697	28	than	than	ADP
ftr-309	697	29	50	50	NUM
ftr-309	697	30	percent	percent	NOUN
ftr-309	697	31	of	of	ADP
ftr-309	697	32	u.s	u.s	PROPN
ftr-309	697	33	.	.	PROPN
ftr-309	697	34	income	income	PROPN
ftr-309	697	35	)	)	PUNCT
ftr-309	697	36	,	,	PUNCT
ftr-309	697	37	anne	anne	PROPN
ftr-309	697	38	experiences	experience	VERB
ftr-309	697	39	the	the	DET
ftr-309	697	40	same	same	ADJ
ftr-309	697	41	after	after	ADP
ftr-309	697	42	-	-	PUNCT
ftr-309	697	43	tax	tax	NOUN
ftr-309	697	44	consequences	consequence	NOUN
ftr-309	697	45	because	because	SCONJ
ftr-309	697	46	she	she	PRON
ftr-309	697	47	receives	receive	VERB
ftr-309	697	48	the	the	DET
ftr-309	697	49	same	same	ADJ
ftr-309	697	50	amount	amount	NOUN
ftr-309	697	51	of	of	ADP
ftr-309	697	52	cash	cash	NOUN
ftr-309	697	53	pre	pre	NOUN
ftr-309	697	54	-	-	NOUN
ftr-309	697	55	tax	tax	ADJ
ftr-309	697	56	(	(	PUNCT
ftr-309	697	57	50	50	NUM
ftr-309	697	58	percent	percent	NOUN
ftr-309	697	59	of	of	ADP
ftr-309	697	60	all	all	DET
ftr-309	697	61	cash	cash	NOUN
ftr-309	697	62	distributed	distribute	VERB
ftr-309	697	63	by	by	ADP
ftr-309	697	64	the	the	DET
ftr-309	697	65	partnership	partnership	NOUN
ftr-309	697	66	)	)	PUNCT
ftr-309	697	67	and	and	CCONJ
ftr-309	697	68	incurs	incur	VERB
ftr-309	697	69	the	the	DET
ftr-309	697	70	same	same	ADJ
ftr-309	697	71	amount	amount	NOUN
ftr-309	697	72	of	of	ADP
ftr-309	697	73	tax	tax	NOUN
ftr-309	697	74	liability	liability	NOUN
ftr-309	697	75	(	(	PUNCT
ftr-309	697	76	35	35	NUM
ftr-309	697	77	percent	percent	NOUN
ftr-309	697	78	times	time	NOUN
ftr-309	697	79	50	50	NUM
ftr-309	697	80	percent	percent	NOUN
ftr-309	697	81	of	of	ADP
ftr-309	697	82	all	all	DET
ftr-309	697	83	income	income	NOUN
ftr-309	697	84	recognized	recognize	VERB
ftr-309	697	85	by	by	ADP
ftr-309	697	86	the	the	DET
ftr-309	697	87	partnership	partnership	NOUN
ftr-309	697	88	)	)	PUNCT
ftr-309	697	89	.	.	PUNCT
ftr-309	698	1	thus	thus	ADV
ftr-309	698	2	,	,	PUNCT
ftr-309	698	3	the	the	DET
ftr-309	698	4	allocations	allocation	NOUN
ftr-309	698	5	in	in	ADP
ftr-309	698	6	example	example	NOUN
ftr-309	698	7	3	3	NUM
ftr-309	698	8	lack	lack	NOUN
ftr-309	698	9	substantiality	substantiality	NOUN
ftr-309	698	10	and	and	CCONJ
ftr-309	698	11	can	can	AUX
ftr-309	698	12	be	be	AUX
ftr-309	698	13	successfully	successfully	ADV
ftr-309	698	14	challenged	challenge	VERB
ftr-309	698	15	by	by	ADP
ftr-309	698	16	the	the	DET
ftr-309	698	17	irs	irs	PROPN
ftr-309	698	18	.	.	PUNCT
ftr-309	699	1	the	the	DET
ftr-309	699	2	allocations	allocation	NOUN
ftr-309	699	3	in	in	ADP
ftr-309	699	4	example	example	NOUN
ftr-309	699	5	3	3	NUM
ftr-309	699	6	are	be	AUX
ftr-309	699	7	suspect	suspect	ADJ
ftr-309	699	8	because	because	SCONJ
ftr-309	699	9	anne	anne	PROPN
ftr-309	699	10	has	have	VERB
ftr-309	699	11	no	no	DET
ftr-309	699	12	reason	reason	NOUN
ftr-309	699	13	not	not	PART
ftr-309	699	14	to	to	PART
ftr-309	699	15	go	go	VERB
ftr-309	699	16	along	along	ADV
ftr-309	699	17	with	with	ADP
ftr-309	699	18	allocations	allocation	NOUN
ftr-309	699	19	that	that	PRON
ftr-309	699	20	save	save	VERB
ftr-309	699	21	ron	ron	NOUN
ftr-309	699	22	taxes	taxis	NOUN
ftr-309	699	23	as	as	ADV
ftr-309	699	24	long	long	ADV
ftr-309	699	25	as	as	SCONJ
ftr-309	699	26	the	the	DET
ftr-309	699	27	allocations	allocation	NOUN
ftr-309	699	28	do	do	AUX
ftr-309	699	29	not	not	PART
ftr-309	699	30	make	make	VERB
ftr-309	699	31	anne	anne	PROPN
ftr-309	699	32	worse	bad	ADJ
ftr-309	699	33	off	off	ADP
ftr-309	699	34	.	.	PUNCT
ftr-309	700	1	thus	thus	ADV
ftr-309	700	2	,	,	PUNCT
ftr-309	700	3	the	the	DET
ftr-309	700	4	allocations	allocation	NOUN
ftr-309	700	5	in	in	ADP
ftr-309	700	6	example	example	NOUN
ftr-309	700	7	3	3	NUM
ftr-309	700	8	can	can	AUX
ftr-309	700	9	be	be	AUX
ftr-309	700	10	wholly	wholly	ADV
ftr-309	700	11	tax	tax	NOUN
ftr-309	700	12	-	-	PUNCT
ftr-309	700	13	motivated	motivated	ADJ
ftr-309	700	14	.	.	PUNCT
ftr-309	701	1	they	they	PRON
ftr-309	701	2	allow	allow	VERB
ftr-309	701	3	one	one	NUM
ftr-309	701	4	partner	partner	NOUN
ftr-309	701	5	to	to	PART
ftr-309	701	6	save	save	VERB
ftr-309	701	7	tax	tax	NOUN
ftr-309	701	8	liability	liability	NOUN
ftr-309	701	9	without	without	ADP
ftr-309	701	10	interfering	interfere	VERB
ftr-309	701	11	with	with	ADP
ftr-309	701	12	the	the	DET
ftr-309	701	13	partners	partner	NOUN
ftr-309	701	14	'	'	PART
ftr-309	701	15	business	business	NOUN
ftr-309	701	16	deal	deal	NOUN
ftr-309	701	17	or	or	CCONJ
ftr-309	701	18	the	the	DET
ftr-309	701	19	tax	tax	NOUN
ftr-309	701	20	liability	liability	NOUN
ftr-309	701	21	incurred	incur	VERB
ftr-309	701	22	by	by	ADP
ftr-309	701	23	another	another	DET
ftr-309	701	24	partner	partner	NOUN
ftr-309	701	25	.	.	PUNCT
ftr-309	702	1	4	4	NUM
ftr-309	702	2	.	.	X
ftr-309	702	3	substantiality	substantiality	NOUN
ftr-309	702	4	:	:	PUNCT
ftr-309	702	5	the	the	DET
ftr-309	702	6	implicit	implicit	ADJ
ftr-309	702	7	assumption	assumption	NOUN
ftr-309	702	8	:	:	PUNCT
ftr-309	702	9	unrelated	unrelated	ADJ
ftr-309	702	10	partners	partner	NOUN
ftr-309	702	11	like	like	ADP
ftr-309	702	12	the	the	DET
ftr-309	702	13	economic	economic	ADJ
ftr-309	702	14	effect	effect	NOUN
ftr-309	702	15	test	test	NOUN
ftr-309	702	16	,	,	PUNCT
ftr-309	702	17	the	the	DET
ftr-309	702	18	substantiality	substantiality	NOUN
ftr-309	702	19	test	test	NOUN
ftr-309	702	20	implicitly	implicitly	ADV
ftr-309	702	21	relies	rely	VERB
ftr-309	702	22	on	on	ADP
ftr-309	702	23	the	the	DET
ftr-309	702	24	assumption	assumption	NOUN
ftr-309	702	25	that	that	SCONJ
ftr-309	702	26	partners	partner	NOUN
ftr-309	702	27	in	in	ADP
ftr-309	702	28	a	a	DET
ftr-309	702	29	partnership	partnership	NOUN
ftr-309	702	30	are	be	AUX
ftr-309	702	31	unrelated	unrelated	ADJ
ftr-309	702	32	and	and	CCONJ
ftr-309	702	33	,	,	PUNCT
ftr-309	702	34	thus	thus	ADV
ftr-309	702	35	,	,	PUNCT
ftr-309	702	36	have	have	AUX
ftr-309	702	37	opposing	oppose	VERB
ftr-309	702	38	economic	economic	ADJ
ftr-309	702	39	interests	interest	NOUN
ftr-309	702	40	.	.	PUNCT
ftr-309	703	1	the	the	DET
ftr-309	703	2	fact	fact	NOUN
ftr-309	703	3	that	that	SCONJ
ftr-309	703	4	the	the	DET
ftr-309	703	5	test	test	NOUN
ftr-309	703	6	depends	depend	VERB
ftr-309	703	7	on	on	ADP
ftr-309	703	8	this	this	DET
ftr-309	703	9	assumption	assumption	NOUN
ftr-309	703	10	can	can	AUX
ftr-309	703	11	be	be	AUX
ftr-309	703	12	further	far	ADV
ftr-309	703	13	demonstrated	demonstrate	VERB
ftr-309	703	14	by	by	ADP
ftr-309	703	15	the	the	DET
ftr-309	703	16	following	follow	VERB
ftr-309	703	17	examples	example	NOUN
ftr-309	703	18	.	.	PUNCT
ftr-309	704	1	example	example	NOUN
ftr-309	704	2	4a	4a	NUM
ftr-309	704	3	.	.	PUNCT
ftr-309	705	1	assume	assume	VERB
ftr-309	705	2	the	the	DET
ftr-309	705	3	same	same	ADJ
ftr-309	705	4	facts	fact	NOUN
ftr-309	705	5	as	as	ADP
ftr-309	705	6	example	example	NOUN
ftr-309	705	7	3	3	NUM
ftr-309	705	8	except	except	SCONJ
ftr-309	705	9	that	that	SCONJ
ftr-309	705	10	the	the	DET
ftr-309	705	11	partnership	partnership	NOUN
ftr-309	705	12	agreement	agreement	NOUN
ftr-309	705	13	provides	provide	VERB
ftr-309	705	14	that	that	SCONJ
ftr-309	705	15	anne	anne	PROPN
ftr-309	705	16	will	will	AUX
ftr-309	705	17	be	be	AUX
ftr-309	705	18	allocated	allocate	VERB
ftr-309	705	19	90	90	NUM
ftr-309	705	20	percent	percent	NOUN
ftr-309	705	21	of	of	ADP
ftr-309	705	22	the	the	DET
ftr-309	705	23	u.s	u.s	PROPN
ftr-309	705	24	.	.	PROPN
ftr-309	705	25	income	income	NOUN
ftr-309	705	26	and	and	CCONJ
ftr-309	705	27	10	10	NUM
ftr-309	705	28	percent	percent	NOUN
ftr-309	705	29	of	of	ADP
ftr-309	705	30	116	116	NUM
ftr-309	705	31	.	.	PUNCT
ftr-309	706	1	after	after	ADP
ftr-309	706	2	ignoring	ignore	VERB
ftr-309	706	3	allocations	allocation	NOUN
ftr-309	706	4	of	of	ADP
ftr-309	706	5	u.s	u.s	PROPN
ftr-309	706	6	.	.	PROPN
ftr-309	706	7	income	income	PROPN
ftr-309	706	8	and	and	CCONJ
ftr-309	706	9	u.k	u.k	PROPN
ftr-309	706	10	.	.	PROPN
ftr-309	706	11	income	income	NOUN
ftr-309	706	12	(	(	PUNCT
ftr-309	706	13	the	the	DET
ftr-309	706	14	allocations	allocation	NOUN
ftr-309	706	15	being	be	AUX
ftr-309	706	16	tested	test	VERB
ftr-309	706	17	)	)	PUNCT
ftr-309	706	18	the	the	DET
ftr-309	706	19	only	only	ADJ
ftr-309	706	20	fact	fact	NOUN
ftr-309	706	21	that	that	SCONJ
ftr-309	706	22	remains	remain	VERB
ftr-309	706	23	is	be	AUX
ftr-309	706	24	that	that	SCONJ
ftr-309	706	25	the	the	DET
ftr-309	706	26	partners	partner	NOUN
ftr-309	706	27	made	make	VERB
ftr-309	706	28	equal	equal	ADJ
ftr-309	706	29	contributions	contribution	NOUN
ftr-309	706	30	to	to	ADP
ftr-309	706	31	the	the	DET
ftr-309	706	32	partnership	partnership	NOUN
ftr-309	706	33	.	.	PUNCT
ftr-309	707	1	thus	thus	ADV
ftr-309	707	2	,	,	PUNCT
ftr-309	707	3	it	it	PRON
ftr-309	707	4	is	be	AUX
ftr-309	707	5	likely	likely	ADJ
ftr-309	707	6	that	that	SCONJ
ftr-309	707	7	each	each	DET
ftr-309	707	8	partner	partner	NOUN
ftr-309	707	9	's	's	PART
ftr-309	707	10	interest	interest	NOUN
ftr-309	707	11	in	in	ADP
ftr-309	707	12	the	the	DET
ftr-309	707	13	partnership	partnership	NOUN
ftr-309	707	14	is	be	AUX
ftr-309	707	15	50	50	NUM
ftr-309	707	16	percent	percent	NOUN
ftr-309	707	17	for	for	ADP
ftr-309	707	18	purposes	purpose	NOUN
ftr-309	707	19	of	of	ADP
ftr-309	707	20	testing	test	VERB
ftr-309	707	21	the	the	DET
ftr-309	707	22	substantiality	substantiality	NOUN
ftr-309	707	23	of	of	ADP
ftr-309	707	24	the	the	DET
ftr-309	707	25	allocations	allocation	NOUN
ftr-309	707	26	.	.	PUNCT
ftr-309	708	1	182	182	NUM
ftr-309	709	1	[	[	X
ftr-309	709	2	vol	vol	NOUN
ftr-309	709	3	.	.	PUNCT
ftr-309	709	4	14:5	14:5	NUM
ftr-309	709	5	2013	2013	NUM
ftr-309	709	6	]	]	PUNCT
ftr-309	709	7	was	be	AUX
ftr-309	709	8	blackstone	blackstone	NOUN
ftr-309	709	9	's	's	PART
ftr-309	709	10	initial	initial	ADJ
ftr-309	709	11	public	public	ADJ
ftr-309	709	12	offering	offering	NOUN
ftr-309	709	13	too	too	ADV
ftr-309	709	14	good	good	ADJ
ftr-309	709	15	to	to	PART
ftr-309	709	16	be	be	AUX
ftr-309	709	17	true	true	ADJ
ftr-309	709	18	?	?	PUNCT
ftr-309	710	1	the	the	DET
ftr-309	710	2	u.k	u.k	PROPN
ftr-309	710	3	.	.	PROPN
ftr-309	710	4	income	income	PROPN
ftr-309	710	5	,	,	PUNCT
ftr-309	710	6	and	and	CCONJ
ftr-309	710	7	ron	ron	PROPN
ftr-309	710	8	will	will	AUX
ftr-309	710	9	be	be	AUX
ftr-309	710	10	allocated	allocate	VERB
ftr-309	710	11	10	10	NUM
ftr-309	710	12	percent	percent	NOUN
ftr-309	710	13	of	of	ADP
ftr-309	710	14	the	the	DET
ftr-309	710	15	u.s	u.s	PROPN
ftr-309	710	16	.	.	PROPN
ftr-309	710	17	income	income	NOUN
ftr-309	710	18	and	and	CCONJ
ftr-309	710	19	90	90	NUM
ftr-309	710	20	percent	percent	NOUN
ftr-309	710	21	of	of	ADP
ftr-309	710	22	the	the	DET
ftr-309	710	23	u.k	u.k	PROPN
ftr-309	710	24	.	.	PROPN
ftr-309	710	25	income	income	PROPN
ftr-309	710	26	.	.	PUNCT
ftr-309	711	1	at	at	ADP
ftr-309	711	2	the	the	DET
ftr-309	711	3	time	time	NOUN
ftr-309	711	4	the	the	DET
ftr-309	711	5	partners	partner	NOUN
ftr-309	711	6	agree	agree	VERB
ftr-309	711	7	to	to	ADP
ftr-309	711	8	these	these	DET
ftr-309	711	9	allocations	allocation	NOUN
ftr-309	711	10	,	,	PUNCT
ftr-309	711	11	they	they	PRON
ftr-309	711	12	do	do	AUX
ftr-309	711	13	not	not	PART
ftr-309	711	14	know	know	VERB
ftr-309	711	15	how	how	SCONJ
ftr-309	711	16	much	much	ADJ
ftr-309	711	17	income	income	NOUN
ftr-309	711	18	the	the	DET
ftr-309	711	19	partnership	partnership	NOUN
ftr-309	711	20	will	will	AUX
ftr-309	711	21	earn	earn	VERB
ftr-309	711	22	.	.	PUNCT
ftr-309	712	1	as	as	SCONJ
ftr-309	712	2	it	it	PRON
ftr-309	712	3	turns	turn	VERB
ftr-309	712	4	out	out	ADP
ftr-309	712	5	,	,	PUNCT
ftr-309	712	6	the	the	DET
ftr-309	712	7	partnership	partnership	NOUN
ftr-309	712	8	earns	earn	VERB
ftr-309	712	9	$	$	SYM
ftr-309	712	10	1,000	1,000	NUM
ftr-309	712	11	of	of	ADP
ftr-309	712	12	income	income	NOUN
ftr-309	712	13	from	from	ADP
ftr-309	712	14	the	the	DET
ftr-309	712	15	united	united	ADJ
ftr-309	712	16	kingdom	kingdom	NOUN
ftr-309	712	17	and	and	CCONJ
ftr-309	712	18	$	$	SYM
ftr-309	712	19	100	100	NUM
ftr-309	712	20	of	of	ADP
ftr-309	712	21	income	income	NOUN
ftr-309	712	22	from	from	ADP
ftr-309	712	23	the	the	DET
ftr-309	712	24	united	united	PROPN
ftr-309	712	25	states	states	PROPN
ftr-309	712	26	.	.	PUNCT
ftr-309	713	1	"	"	PUNCT
ftr-309	713	2	'	'	PUNCT
ftr-309	713	3	ron	ron	PROPN
ftr-309	713	4	and	and	CCONJ
ftr-309	713	5	anne	anne	PROPN
ftr-309	713	6	are	be	AUX
ftr-309	713	7	unrelated	unrelated	ADJ
ftr-309	713	8	.	.	PUNCT
ftr-309	714	1	the	the	DET
ftr-309	714	2	allocations	allocation	NOUN
ftr-309	714	3	described	describe	VERB
ftr-309	714	4	in	in	ADP
ftr-309	714	5	example	example	NOUN
ftr-309	714	6	4a	4a	NOUN
ftr-309	714	7	pass	pass	VERB
ftr-309	714	8	the	the	DET
ftr-309	714	9	substantiality	substantiality	NOUN
ftr-309	714	10	test	test	NOUN
ftr-309	714	11	and	and	CCONJ
ftr-309	714	12	should	should	AUX
ftr-309	714	13	be	be	AUX
ftr-309	714	14	respected	respect	VERB
ftr-309	714	15	.	.	PUNCT
ftr-309	715	1	looking	look	VERB
ftr-309	715	2	at	at	ADP
ftr-309	715	3	the	the	DET
ftr-309	715	4	actual	actual	ADJ
ftr-309	715	5	results	result	NOUN
ftr-309	715	6	realized	realize	VERB
ftr-309	715	7	by	by	ADP
ftr-309	715	8	the	the	DET
ftr-309	715	9	partnership	partnership	NOUN
ftr-309	715	10	in	in	ADP
ftr-309	715	11	example	example	NOUN
ftr-309	715	12	4a	4a	NUM
ftr-309	715	13	,	,	PUNCT
ftr-309	715	14	the	the	DET
ftr-309	715	15	allocations	allocation	NOUN
ftr-309	715	16	enhance	enhance	VERB
ftr-309	715	17	ron	ron	PROPN
ftr-309	715	18	's	's	PART
ftr-309	715	19	after	after	ADP
ftr-309	715	20	-	-	PUNCT
ftr-309	715	21	tax	tax	NOUN
ftr-309	715	22	consequences	consequence	NOUN
ftr-309	715	23	compared	compare	VERB
ftr-309	715	24	to	to	ADP
ftr-309	715	25	what	what	PRON
ftr-309	715	26	would	would	AUX
ftr-309	715	27	occur	occur	VERB
ftr-309	715	28	if	if	SCONJ
ftr-309	715	29	each	each	DET
ftr-309	715	30	type	type	NOUN
ftr-309	715	31	of	of	ADP
ftr-309	715	32	income	income	NOUN
ftr-309	715	33	were	be	AUX
ftr-309	715	34	allocated	allocate	VERB
ftr-309	715	35	equally	equally	ADV
ftr-309	715	36	to	to	ADP
ftr-309	715	37	each	each	DET
ftr-309	715	38	partner	partner	NOUN
ftr-309	715	39	,	,	PUNCT
ftr-309	715	40	but	but	CCONJ
ftr-309	715	41	the	the	DET
ftr-309	715	42	allocations	allocation	NOUN
ftr-309	715	43	diminish	diminish	VERB
ftr-309	715	44	anne	anne	PROPN
ftr-309	715	45	's	's	PART
ftr-309	715	46	aftertax	aftertax	ADJ
ftr-309	715	47	consequences	consequence	NOUN
ftr-309	715	48	compared	compare	VERB
ftr-309	715	49	to	to	ADP
ftr-309	715	50	what	what	PRON
ftr-309	715	51	would	would	AUX
ftr-309	715	52	occur	occur	VERB
ftr-309	715	53	if	if	SCONJ
ftr-309	715	54	each	each	DET
ftr-309	715	55	type	type	NOUN
ftr-309	715	56	of	of	ADP
ftr-309	715	57	income	income	NOUN
ftr-309	715	58	were	be	AUX
ftr-309	715	59	allocated	allocate	VERB
ftr-309	715	60	equally	equally	ADV
ftr-309	715	61	to	to	ADP
ftr-309	715	62	each	each	DET
ftr-309	715	63	partner	partner	NOUN
ftr-309	715	64	.	.	PUNCT
ftr-309	715	65	"	"	PUNCT
ftr-309	716	1	9	9	NUM
ftr-309	716	2	the	the	DET
ftr-309	716	3	table	table	NOUN
ftr-309	716	4	below	below	ADP
ftr-309	716	5	compares	compare	VERB
ftr-309	716	6	the	the	DET
ftr-309	716	7	after	after	ADP
ftr-309	716	8	-	-	PUNCT
ftr-309	716	9	tax	tax	NOUN
ftr-309	716	10	consequences	consequence	NOUN
ftr-309	716	11	of	of	ADP
ftr-309	716	12	each	each	DET
ftr-309	716	13	partner	partner	NOUN
ftr-309	716	14	under	under	ADP
ftr-309	716	15	the	the	DET
ftr-309	716	16	agreement	agreement	NOUN
ftr-309	716	17	to	to	ADP
ftr-309	716	18	the	the	DET
ftr-309	716	19	consequences	consequence	NOUN
ftr-309	716	20	that	that	PRON
ftr-309	716	21	would	would	AUX
ftr-309	716	22	follow	follow	VERB
ftr-309	716	23	if	if	SCONJ
ftr-309	716	24	each	each	DET
ftr-309	716	25	type	type	NOUN
ftr-309	716	26	of	of	ADP
ftr-309	716	27	income	income	NOUN
ftr-309	716	28	were	be	AUX
ftr-309	716	29	allocated	allocate	VERB
ftr-309	716	30	equally	equally	ADV
ftr-309	716	31	to	to	ADP
ftr-309	716	32	each	each	DET
ftr-309	716	33	partner	partner	NOUN
ftr-309	716	34	.	.	PUNCT
ftr-309	717	1	as	as	SCONJ
ftr-309	717	2	shown	show	VERB
ftr-309	717	3	in	in	ADP
ftr-309	717	4	this	this	DET
ftr-309	717	5	table	table	NOUN
ftr-309	717	6	,	,	PUNCT
ftr-309	717	7	the	the	DET
ftr-309	717	8	allocations	allocation	NOUN
ftr-309	717	9	in	in	ADP
ftr-309	717	10	the	the	DET
ftr-309	717	11	partnership	partnership	NOUN
ftr-309	717	12	agreement	agreement	NOUN
ftr-309	717	13	increase	increase	VERB
ftr-309	717	14	ron	ron	PROPN
ftr-309	717	15	's	's	PART
ftr-309	717	16	after	after	ADP
ftr-309	717	17	-	-	PUNCT
ftr-309	717	18	tax	tax	NOUN
ftr-309	717	19	profit	profit	NOUN
ftr-309	717	20	(	(	PUNCT
ftr-309	717	21	$	$	SYM
ftr-309	717	22	906.50	906.50	NUM
ftr-309	717	23	compared	compare	VERB
ftr-309	717	24	to	to	ADP
ftr-309	717	25	$	$	SYM
ftr-309	717	26	532.50	532.50	NUM
ftr-309	717	27	)	)	PUNCT
ftr-309	717	28	but	but	CCONJ
ftr-309	717	29	lessen	lessen	VERB
ftr-309	717	30	anne	anne	PROPN
ftr-309	717	31	's	's	PART
ftr-309	717	32	after	after	ADP
ftr-309	717	33	-	-	PUNCT
ftr-309	717	34	tax	tax	NOUN
ftr-309	717	35	profit	profit	NOUN
ftr-309	717	36	(	(	PUNCT
ftr-309	717	37	$	$	SYM
ftr-309	717	38	123.50	123.50	NUM
ftr-309	717	39	compared	compare	VERB
ftr-309	717	40	to	to	ADP
ftr-309	717	41	$	$	SYM
ftr-309	717	42	357.50	357.50	NUM
ftr-309	717	43	)	)	PUNCT
ftr-309	717	44	.	.	PUNCT
ftr-309	718	1	118	118	NUM
ftr-309	718	2	.	.	PUNCT
ftr-309	719	1	see	see	VERB
ftr-309	719	2	regs	reg	NOUN
ftr-309	719	3	.	.	PUNCT
ftr-309	720	1	§	§	PROPN
ftr-309	720	2	1.704	1.704	NUM
ftr-309	720	3	-	-	NUM
ftr-309	720	4	1(b)(5	1(b)(5	NUM
ftr-309	720	5	)	)	PUNCT
ftr-309	720	6	,	,	PUNCT
ftr-309	720	7	ex	ex	X
ftr-309	720	8	.	.	PUNCT
ftr-309	720	9	(	(	PUNCT
ftr-309	720	10	10)(i	10)(i	NUM
ftr-309	720	11	)	)	PUNCT
ftr-309	720	12	(	(	PUNCT
ftr-309	720	13	providing	provide	VERB
ftr-309	720	14	a	a	DET
ftr-309	720	15	similar	similar	ADJ
ftr-309	720	16	example	example	NOUN
ftr-309	720	17	)	)	PUNCT
ftr-309	720	18	.	.	PUNCT
ftr-309	721	1	119	119	NUM
ftr-309	721	2	.	.	PUNCT
ftr-309	722	1	the	the	DET
ftr-309	722	2	substantiality	substantiality	NOUN
ftr-309	722	3	test	test	NOUN
ftr-309	722	4	requires	require	VERB
ftr-309	722	5	examining	examine	VERB
ftr-309	722	6	what	what	PRON
ftr-309	722	7	was	be	AUX
ftr-309	722	8	likely	likely	ADJ
ftr-309	722	9	to	to	PART
ftr-309	722	10	occur	occur	VERB
ftr-309	722	11	at	at	ADP
ftr-309	722	12	the	the	DET
ftr-309	722	13	time	time	NOUN
ftr-309	722	14	the	the	DET
ftr-309	722	15	partners	partner	NOUN
ftr-309	722	16	agreed	agree	VERB
ftr-309	722	17	to	to	ADP
ftr-309	722	18	the	the	DET
ftr-309	722	19	allocation	allocation	NOUN
ftr-309	722	20	in	in	ADP
ftr-309	722	21	question	question	NOUN
ftr-309	722	22	.	.	PUNCT
ftr-309	723	1	see	see	VERB
ftr-309	723	2	regs	reg	NOUN
ftr-309	723	3	.	.	PUNCT
ftr-309	724	1	§	§	PROPN
ftr-309	724	2	1.7041(b)(2)(iii)(a	1.7041(b)(2)(iii)(a	NUM
ftr-309	724	3	)	)	PUNCT
ftr-309	724	4	(	(	PUNCT
ftr-309	724	5	"	"	PUNCT
ftr-309	724	6	[	[	X
ftr-309	724	7	t]he	t]he	ADV
ftr-309	724	8	economic	economic	ADJ
ftr-309	724	9	effect	effect	NOUN
ftr-309	724	10	of	of	ADP
ftr-309	724	11	an	an	DET
ftr-309	724	12	allocation	allocation	NOUN
ftr-309	724	13	...	...	PUNCT
ftr-309	724	14	is	be	AUX
ftr-309	724	15	not	not	PART
ftr-309	724	16	substantial	substantial	ADJ
ftr-309	724	17	if	if	SCONJ
ftr-309	724	18	,	,	PUNCT
ftr-309	724	19	at	at	ADP
ftr-309	724	20	the	the	DET
ftr-309	724	21	time	time	NOUN
ftr-309	724	22	the	the	DET
ftr-309	724	23	allocation	allocation	NOUN
ftr-309	724	24	becomes	become	VERB
ftr-309	724	25	part	part	NOUN
ftr-309	724	26	of	of	ADP
ftr-309	724	27	the	the	DET
ftr-309	724	28	partnership	partnership	NOUN
ftr-309	724	29	agreement	agreement	NOUN
ftr-309	724	30	[	[	X
ftr-309	724	31	the	the	DET
ftr-309	724	32	allocation	allocation	NOUN
ftr-309	724	33	may	may	AUX
ftr-309	724	34	make	make	VERB
ftr-309	724	35	one	one	NUM
ftr-309	724	36	partner	partner	NOUN
ftr-309	724	37	better	well	ADV
ftr-309	724	38	off	off	ADV
ftr-309	724	39	(	(	PUNCT
ftr-309	724	40	after	after	ADP
ftr-309	724	41	tax	tax	NOUN
ftr-309	724	42	)	)	PUNCT
ftr-309	724	43	and	and	CCONJ
ftr-309	724	44	is	be	AUX
ftr-309	724	45	not	not	PART
ftr-309	724	46	likely	likely	ADJ
ftr-309	724	47	to	to	PART
ftr-309	724	48	make	make	VERB
ftr-309	724	49	any	any	DET
ftr-309	724	50	partner	partner	NOUN
ftr-309	724	51	substantially	substantially	ADV
ftr-309	724	52	worse	bad	ADJ
ftr-309	724	53	off	off	ADP
ftr-309	724	54	(	(	PUNCT
ftr-309	724	55	after	after	ADP
ftr-309	724	56	tax	tax	NOUN
ftr-309	724	57	)	)	PUNCT
ftr-309	724	58	compared	compare	VERB
ftr-309	724	59	to	to	ADP
ftr-309	724	60	what	what	PRON
ftr-309	724	61	would	would	AUX
ftr-309	724	62	occur	occur	VERB
ftr-309	724	63	if	if	SCONJ
ftr-309	724	64	the	the	DET
ftr-309	724	65	allocation	allocation	NOUN
ftr-309	724	66	were	be	AUX
ftr-309	724	67	not	not	PART
ftr-309	724	68	in	in	ADP
ftr-309	724	69	the	the	DET
ftr-309	724	70	partnership	partnership	NOUN
ftr-309	724	71	agreement	agreement	NOUN
ftr-309	724	72	]	]	PUNCT
ftr-309	724	73	.	.	PUNCT
ftr-309	724	74	"	"	PUNCT
ftr-309	724	75	)	)	PUNCT
ftr-309	725	1	(	(	PUNCT
ftr-309	725	2	emphasis	emphasis	NOUN
ftr-309	725	3	added	add	VERB
ftr-309	725	4	)	)	PUNCT
ftr-309	725	5	.	.	PUNCT
ftr-309	726	1	however	however	ADV
ftr-309	726	2	,	,	PUNCT
ftr-309	726	3	although	although	SCONJ
ftr-309	726	4	the	the	DET
ftr-309	726	5	test	test	NOUN
ftr-309	726	6	requires	require	VERB
ftr-309	726	7	examining	examine	VERB
ftr-309	726	8	what	what	PRON
ftr-309	726	9	was	be	AUX
ftr-309	726	10	likely	likely	ADJ
ftr-309	726	11	to	to	PART
ftr-309	726	12	occur	occur	VERB
ftr-309	726	13	as	as	ADP
ftr-309	726	14	of	of	ADP
ftr-309	726	15	the	the	DET
ftr-309	726	16	time	time	NOUN
ftr-309	726	17	the	the	DET
ftr-309	726	18	partners	partner	NOUN
ftr-309	726	19	agreed	agree	VERB
ftr-309	726	20	to	to	ADP
ftr-309	726	21	the	the	DET
ftr-309	726	22	allocations	allocation	NOUN
ftr-309	726	23	,	,	PUNCT
ftr-309	726	24	the	the	DET
ftr-309	726	25	actual	actual	ADJ
ftr-309	726	26	results	result	NOUN
ftr-309	726	27	realized	realize	VERB
ftr-309	726	28	by	by	ADP
ftr-309	726	29	the	the	DET
ftr-309	726	30	partnership	partnership	NOUN
ftr-309	726	31	provide	provide	VERB
ftr-309	726	32	important	important	ADJ
ftr-309	726	33	evidence	evidence	NOUN
ftr-309	726	34	of	of	ADP
ftr-309	726	35	what	what	PRON
ftr-309	726	36	was	be	AUX
ftr-309	726	37	likely	likely	ADJ
ftr-309	726	38	to	to	PART
ftr-309	726	39	occur	occur	VERB
ftr-309	726	40	as	as	ADP
ftr-309	726	41	of	of	ADP
ftr-309	726	42	the	the	DET
ftr-309	726	43	time	time	NOUN
ftr-309	726	44	the	the	DET
ftr-309	726	45	partners	partner	NOUN
ftr-309	726	46	agreed	agree	VERB
ftr-309	726	47	to	to	ADP
ftr-309	726	48	the	the	DET
ftr-309	726	49	allocations	allocation	NOUN
ftr-309	726	50	.	.	PUNCT
ftr-309	727	1	indeed	indeed	ADV
ftr-309	727	2	,	,	PUNCT
ftr-309	727	3	in	in	ADP
ftr-309	727	4	the	the	DET
ftr-309	727	5	context	context	NOUN
ftr-309	727	6	of	of	ADP
ftr-309	727	7	some	some	PRON
ftr-309	727	8	of	of	ADP
ftr-309	727	9	the	the	DET
ftr-309	727	10	substantiality	substantiality	NOUN
ftr-309	727	11	tests	test	NOUN
ftr-309	727	12	(	(	PUNCT
ftr-309	727	13	particularly	particularly	ADV
ftr-309	727	14	,	,	PUNCT
ftr-309	727	15	the	the	DET
ftr-309	727	16	shifting	shift	VERB
ftr-309	727	17	allocation	allocation	NOUN
ftr-309	727	18	test	test	NOUN
ftr-309	727	19	and	and	CCONJ
ftr-309	727	20	the	the	DET
ftr-309	727	21	transitory	transitory	ADJ
ftr-309	727	22	allocation	allocation	NOUN
ftr-309	727	23	tests	test	NOUN
ftr-309	727	24	)	)	PUNCT
ftr-309	727	25	,	,	PUNCT
ftr-309	727	26	the	the	DET
ftr-309	727	27	actual	actual	ADJ
ftr-309	727	28	results	result	NOUN
ftr-309	727	29	realized	realize	VERB
ftr-309	727	30	by	by	ADP
ftr-309	727	31	the	the	DET
ftr-309	727	32	partnership	partnership	NOUN
ftr-309	727	33	establish	establish	VERB
ftr-309	727	34	a	a	DET
ftr-309	727	35	rebuttable	rebuttable	ADJ
ftr-309	727	36	presumption	presumption	NOUN
ftr-309	727	37	regarding	regard	VERB
ftr-309	727	38	what	what	PRON
ftr-309	727	39	was	be	AUX
ftr-309	727	40	likely	likely	ADJ
ftr-309	727	41	to	to	PART
ftr-309	727	42	occur	occur	VERB
ftr-309	727	43	as	as	ADP
ftr-309	727	44	of	of	ADP
ftr-309	727	45	the	the	DET
ftr-309	727	46	time	time	NOUN
ftr-309	727	47	the	the	DET
ftr-309	727	48	partners	partner	NOUN
ftr-309	727	49	agreed	agree	VERB
ftr-309	727	50	to	to	ADP
ftr-309	727	51	an	an	DET
ftr-309	727	52	allocation	allocation	NOUN
ftr-309	727	53	.	.	PUNCT
ftr-309	728	1	see	see	VERB
ftr-309	728	2	regs	reg	NOUN
ftr-309	728	3	.	.	PUNCT
ftr-309	729	1	§	§	PROPN
ftr-309	729	2	§	§	PROPN
ftr-309	729	3	1.7041	1.7041	NUM
ftr-309	729	4	(	(	PUNCT
ftr-309	729	5	b)(2)(iii)(b)(2	b)(2)(iii)(b)(2	PROPN
ftr-309	729	6	)	)	PUNCT
ftr-309	729	7	(	(	PUNCT
ftr-309	729	8	providing	provide	VERB
ftr-309	729	9	the	the	DET
ftr-309	729	10	rebuttable	rebuttable	ADJ
ftr-309	729	11	presumption	presumption	NOUN
ftr-309	729	12	in	in	ADP
ftr-309	729	13	the	the	DET
ftr-309	729	14	context	context	NOUN
ftr-309	729	15	of	of	ADP
ftr-309	729	16	the	the	DET
ftr-309	729	17	shifting	shift	VERB
ftr-309	729	18	allocation	allocation	NOUN
ftr-309	729	19	test	test	NOUN
ftr-309	729	20	)	)	PUNCT
ftr-309	729	21	;	;	PUNCT
ftr-309	729	22	1.704	1.704	NUM
ftr-309	729	23	-	-	SYM
ftr-309	729	24	1(b)(2)(iii)(c)(2	1(b)(2)(iii)(c)(2	NUM
ftr-309	729	25	)	)	PUNCT
ftr-309	729	26	(	(	PUNCT
ftr-309	729	27	providing	provide	VERB
ftr-309	729	28	the	the	DET
ftr-309	729	29	rebuttable	rebuttable	ADJ
ftr-309	729	30	presumption	presumption	NOUN
ftr-309	729	31	in	in	ADP
ftr-309	729	32	the	the	DET
ftr-309	729	33	context	context	NOUN
ftr-309	729	34	of	of	ADP
ftr-309	729	35	the	the	DET
ftr-309	729	36	transitory	transitory	ADJ
ftr-309	729	37	allocation	allocation	NOUN
ftr-309	729	38	test	test	NOUN
ftr-309	729	39	)	)	PUNCT
ftr-309	729	40	;	;	PUNCT
ftr-309	729	41	see	see	VERB
ftr-309	729	42	also	also	ADV
ftr-309	729	43	supra	supra	ADJ
ftr-309	729	44	note	note	NOUN
ftr-309	729	45	115	115	NUM
ftr-309	729	46	(	(	PUNCT
ftr-309	729	47	mentioning	mention	VERB
ftr-309	729	48	the	the	DET
ftr-309	729	49	shifting	shift	VERB
ftr-309	729	50	allocation	allocation	NOUN
ftr-309	729	51	and	and	CCONJ
ftr-309	729	52	transitory	transitory	ADJ
ftr-309	729	53	allocation	allocation	NOUN
ftr-309	729	54	tests	test	NOUN
ftr-309	729	55	)	)	PUNCT
ftr-309	729	56	.	.	PUNCT
ftr-309	730	1	183	183	NUM
ftr-309	730	2	florida	florida	PROPN
ftr-309	730	3	tax	tax	NOUN
ftr-309	730	4	review	review	NOUN
ftr-309	730	5	table	table	NOUN
ftr-309	730	6	1	1	NUM
ftr-309	730	7	results	result	NOUN
ftr-309	730	8	of	of	ADP
ftr-309	730	9	partnership	partnership	NOUN
ftr-309	730	10	results	result	NOUN
ftr-309	730	11	if	if	SCONJ
ftr-309	730	12	u.s	u.s	PROPN
ftr-309	730	13	.	.	PROPN
ftr-309	730	14	and	and	CCONJ
ftr-309	730	15	u.k	u.k	PROPN
ftr-309	730	16	.	.	PROPN
ftr-309	730	17	agreement	agreement	NOUN
ftr-309	730	18	income	income	NOUN
ftr-309	730	19	were	be	AUX
ftr-309	730	20	allocated	allocate	VERB
ftr-309	730	21	equally	equally	ADV
ftr-309	730	22	anne	anne	PROPN
ftr-309	730	23	ron	ron	PROPN
ftr-309	730	24	anne	anne	PROPN
ftr-309	730	25	ron	ron	PROPN
ftr-309	730	26	pre	pre	PROPN
ftr-309	730	27	-	-	VERB
ftr-309	730	28	tax	tax	ADJ
ftr-309	730	29	$	$	SYM
ftr-309	730	30	190	190	NUM
ftr-309	730	31	$	$	SYM
ftr-309	730	32	910	910	NUM
ftr-309	730	33	$	$	SYM
ftr-309	730	34	550	550	NUM
ftr-309	730	35	$	$	SYM
ftr-309	730	36	550	550	NUM
ftr-309	730	37	proitl20	proitl20	NOUN
ftr-309	730	38	u.s	u.s	PROPN
ftr-309	730	39	.	.	PROPN
ftr-309	730	40	tax	tax	PROPN
ftr-309	730	41	$	$	SYM
ftr-309	730	42	190	190	NUM
ftr-309	730	43	total	total	ADJ
ftr-309	730	44	$	$	SYM
ftr-309	730	45	10	10	NUM
ftr-309	730	46	u.s	u.s	PROPN
ftr-309	730	47	.	.	PROPN
ftr-309	730	48	$	$	SYM
ftr-309	730	49	550	550	NUM
ftr-309	730	50	total	total	NOUN
ftr-309	730	51	$	$	SYM
ftr-309	730	52	50	50	NUM
ftr-309	730	53	u.s	u.s	PROPN
ftr-309	730	54	.	.	PROPN
ftr-309	730	55	liability	liability	NOUN
ftr-309	730	56	income	income	NOUN
ftr-309	730	57	income	income	NOUN
ftr-309	730	58	x	x	PUNCT
ftr-309	730	59	income	income	NOUN
ftr-309	730	60	x	x	PUNCT
ftr-309	730	61	income	income	NOUN
ftr-309	730	62	x35%=	x35%=	NOUN
ftr-309	730	63	35	35	NUM
ftr-309	730	64	%	%	NOUN
ftr-309	730	65	=	=	NOUN
ftr-309	730	66	35	35	NUM
ftr-309	730	67	%	%	NOUN
ftr-309	730	68	=	=	NOUN
ftr-309	730	69	x35%=	x35%=	NOUN
ftr-309	730	70	$	$	SYM
ftr-309	730	71	66.50	66.50	NUM
ftr-309	730	72	$	$	SYM
ftr-309	730	73	3.50	3.50	NUM
ftr-309	730	74	$	$	SYM
ftr-309	730	75	192.50	192.50	NUM
ftr-309	730	76	$	$	SYM
ftr-309	730	77	17.50	17.50	NUM
ftr-309	730	78	after$190	after$190	ADJ
ftr-309	730	79	$	$	SYM
ftr-309	730	80	66.50	66.50	NUM
ftr-309	730	81	$	$	SYM
ftr-309	730	82	910-$3.50	910-$3.50	NUM
ftr-309	730	83	$	$	SYM
ftr-309	730	84	550$550tax	550$550tax	NUM
ftr-309	730	85	-$123.50	-$123.50	SYM
ftr-309	730	86	=	=	PUNCT
ftr-309	730	87	$	$	SYM
ftr-309	730	88	906.50	906.50	NUM
ftr-309	730	89	$	$	SYM
ftr-309	730	90	192.50	192.50	NUM
ftr-309	730	91	$	$	SYM
ftr-309	730	92	17.50	17.50	NUM
ftr-309	730	93	profit	profit	NOUN
ftr-309	730	94	=	=	PUNCT
ftr-309	730	95	$	$	SYM
ftr-309	730	96	357.50	357.50	NUM
ftr-309	730	97	=	=	PUNCT
ftr-309	730	98	$	$	SYM
ftr-309	730	99	532.50	532.50	NUM
ftr-309	730	100	because	because	SCONJ
ftr-309	730	101	the	the	DET
ftr-309	730	102	allocations	allocation	NOUN
ftr-309	730	103	in	in	ADP
ftr-309	730	104	the	the	DET
ftr-309	730	105	partnership	partnership	NOUN
ftr-309	730	106	agreement	agreement	NOUN
ftr-309	730	107	decrease	decrease	VERB
ftr-309	730	108	anne	anne	PROPN
ftr-309	730	109	's	's	PART
ftr-309	730	110	after	after	ADP
ftr-309	730	111	-	-	PUNCT
ftr-309	730	112	tax	tax	NOUN
ftr-309	730	113	profit	profit	NOUN
ftr-309	730	114	,	,	PUNCT
ftr-309	730	115	the	the	DET
ftr-309	730	116	allocations	allocation	NOUN
ftr-309	730	117	will	will	AUX
ftr-309	730	118	pass	pass	VERB
ftr-309	730	119	the	the	DET
ftr-309	730	120	substantiality	substantiality	NOUN
ftr-309	730	121	test	test	NOUN
ftr-309	730	122	.	.	PUNCT
ftr-309	731	1	moreover	moreover	ADV
ftr-309	731	2	,	,	PUNCT
ftr-309	731	3	the	the	DET
ftr-309	731	4	underlying	underlie	VERB
ftr-309	731	5	rationale	rationale	NOUN
ftr-309	731	6	behind	behind	ADP
ftr-309	731	7	this	this	DET
ftr-309	731	8	result	result	NOUN
ftr-309	731	9	is	be	AUX
ftr-309	731	10	that	that	SCONJ
ftr-309	731	11	unrelated	unrelated	ADJ
ftr-309	731	12	partners	partner	NOUN
ftr-309	731	13	with	with	ADP
ftr-309	731	14	opposing	oppose	VERB
ftr-309	731	15	economic	economic	ADJ
ftr-309	731	16	interests	interest	NOUN
ftr-309	731	17	will	will	AUX
ftr-309	731	18	not	not	PART
ftr-309	731	19	agree	agree	VERB
ftr-309	731	20	,	,	PUNCT
ftr-309	731	21	for	for	ADP
ftr-309	731	22	purely	purely	ADV
ftr-309	731	23	tax	tax	NOUN
ftr-309	731	24	reasons	reason	NOUN
ftr-309	731	25	,	,	PUNCT
ftr-309	731	26	to	to	PART
ftr-309	731	27	allocate	allocate	VERB
ftr-309	731	28	items	item	NOUN
ftr-309	731	29	in	in	ADP
ftr-309	731	30	a	a	DET
ftr-309	731	31	way	way	NOUN
ftr-309	731	32	that	that	PRON
ftr-309	731	33	could	could	AUX
ftr-309	731	34	worsen	worsen	VERB
ftr-309	731	35	the	the	DET
ftr-309	731	36	after	after	ADP
ftr-309	731	37	-	-	PUNCT
ftr-309	731	38	tax	tax	NOUN
ftr-309	731	39	economic	economic	ADJ
ftr-309	731	40	position	position	NOUN
ftr-309	731	41	of	of	ADP
ftr-309	731	42	at	at	ADV
ftr-309	731	43	least	least	ADV
ftr-309	731	44	one	one	NUM
ftr-309	731	45	partner	partner	NOUN
ftr-309	731	46	.	.	PUNCT
ftr-309	732	1	in	in	ADP
ftr-309	732	2	other	other	ADJ
ftr-309	732	3	words	word	NOUN
ftr-309	732	4	,	,	PUNCT
ftr-309	732	5	because	because	SCONJ
ftr-309	732	6	the	the	DET
ftr-309	732	7	allocations	allocation	NOUN
ftr-309	732	8	make	make	VERB
ftr-309	732	9	anne	anne	PROPN
ftr-309	732	10	worse	bad	ADJ
ftr-309	732	11	off	off	ADP
ftr-309	732	12	after	after	ADP
ftr-309	732	13	tax	tax	NOUN
ftr-309	732	14	,	,	PUNCT
ftr-309	732	15	it	it	PRON
ftr-309	732	16	is	be	AUX
ftr-309	732	17	no	no	ADV
ftr-309	732	18	longer	long	ADV
ftr-309	732	19	suspected	suspect	VERB
ftr-309	732	20	that	that	SCONJ
ftr-309	732	21	the	the	DET
ftr-309	732	22	allocations	allocation	NOUN
ftr-309	732	23	are	be	AUX
ftr-309	732	24	solely	solely	ADV
ftr-309	732	25	tax	tax	NOUN
ftr-309	732	26	-	-	PUNCT
ftr-309	732	27	motivated	motivated	ADJ
ftr-309	732	28	.	.	PUNCT
ftr-309	733	1	in	in	ADP
ftr-309	733	2	example	example	NOUN
ftr-309	733	3	3	3	NUM
ftr-309	733	4	,	,	PUNCT
ftr-309	733	5	the	the	DET
ftr-309	733	6	allocations	allocation	NOUN
ftr-309	733	7	appear	appear	VERB
ftr-309	733	8	to	to	PART
ftr-309	733	9	be	be	AUX
ftr-309	733	10	solely	solely	ADV
ftr-309	733	11	taxmotivated	taxmotivate	VERB
ftr-309	733	12	because	because	SCONJ
ftr-309	733	13	the	the	DET
ftr-309	733	14	only	only	ADJ
ftr-309	733	15	possible	possible	ADJ
ftr-309	733	16	effect	effect	NOUN
ftr-309	733	17	of	of	ADP
ftr-309	733	18	the	the	DET
ftr-309	733	19	allocations	allocation	NOUN
ftr-309	733	20	is	be	AUX
ftr-309	733	21	to	to	PART
ftr-309	733	22	reduce	reduce	VERB
ftr-309	733	23	ron	ron	PROPN
ftr-309	733	24	's	's	PART
ftr-309	733	25	tax	tax	NOUN
ftr-309	733	26	liability	liability	NOUN
ftr-309	733	27	.	.	PUNCT
ftr-309	734	1	by	by	ADP
ftr-309	734	2	contrast	contrast	NOUN
ftr-309	734	3	,	,	PUNCT
ftr-309	734	4	in	in	ADP
ftr-309	734	5	example	example	NOUN
ftr-309	734	6	4a	4a	NOUN
ftr-309	734	7	,	,	PUNCT
ftr-309	734	8	in	in	ADP
ftr-309	734	9	addition	addition	NOUN
ftr-309	734	10	to	to	ADP
ftr-309	734	11	lowering	lower	VERB
ftr-309	734	12	ron	ron	PROPN
ftr-309	734	13	's	's	PART
ftr-309	734	14	tax	tax	NOUN
ftr-309	734	15	liability	liability	NOUN
ftr-309	734	16	,	,	PUNCT
ftr-309	734	17	the	the	DET
ftr-309	734	18	allocations	allocation	NOUN
ftr-309	734	19	have	have	VERB
ftr-309	734	20	the	the	DET
ftr-309	734	21	effect	effect	NOUN
ftr-309	734	22	of	of	ADP
ftr-309	734	23	reducing	reduce	VERB
ftr-309	734	24	the	the	DET
ftr-309	734	25	amount	amount	NOUN
ftr-309	734	26	of	of	ADP
ftr-309	734	27	cash	cash	NOUN
ftr-309	734	28	received	receive	VERB
ftr-309	734	29	by	by	ADP
ftr-309	734	30	anne	anne	PROPN
ftr-309	734	31	.	.	PUNCT
ftr-309	735	1	assuming	assume	VERB
ftr-309	735	2	the	the	DET
ftr-309	735	3	partners	partner	NOUN
ftr-309	735	4	have	have	AUX
ftr-309	735	5	opposing	oppose	VERB
ftr-309	735	6	economic	economic	ADJ
ftr-309	735	7	interests	interest	NOUN
ftr-309	735	8	,	,	PUNCT
ftr-309	735	9	anne	anne	PROPN
ftr-309	735	10	would	would	AUX
ftr-309	735	11	be	be	AUX
ftr-309	735	12	unwilling	unwilling	ADJ
ftr-309	735	13	to	to	PART
ftr-309	735	14	risk	risk	VERB
ftr-309	735	15	forgoing	forgo	VERB
ftr-309	735	16	cash	cash	NOUN
ftr-309	735	17	merely	merely	ADV
ftr-309	735	18	to	to	PART
ftr-309	735	19	lower	lower	VERB
ftr-309	735	20	ron	ron	PROPN
ftr-309	735	21	's	's	PART
ftr-309	735	22	tax	tax	NOUN
ftr-309	735	23	liability	liability	NOUN
ftr-309	735	24	.	.	PUNCT
ftr-309	736	1	thus	thus	ADV
ftr-309	736	2	,	,	PUNCT
ftr-309	736	3	if	if	SCONJ
ftr-309	736	4	the	the	DET
ftr-309	736	5	partners	partner	NOUN
ftr-309	736	6	do	do	AUX
ftr-309	736	7	agree	agree	VERB
ftr-309	736	8	to	to	ADP
ftr-309	736	9	the	the	DET
ftr-309	736	10	allocations	allocation	NOUN
ftr-309	736	11	in	in	ADP
ftr-309	736	12	example	example	NOUN
ftr-309	736	13	4a	4a	NUM
ftr-309	736	14	,	,	PUNCT
ftr-309	736	15	one	one	PRON
ftr-309	736	16	can	can	AUX
ftr-309	736	17	infer	infer	VERB
ftr-309	736	18	that	that	SCONJ
ftr-309	736	19	the	the	DET
ftr-309	736	20	partners	partner	NOUN
ftr-309	736	21	had	have	VERB
ftr-309	736	22	non	non	ADJ
ftr-309	736	23	-	-	ADJ
ftr-309	736	24	tax	tax	ADJ
ftr-309	736	25	business	business	NOUN
ftr-309	736	26	reasons	reason	NOUN
ftr-309	736	27	for	for	ADP
ftr-309	736	28	doing	do	VERB
ftr-309	736	29	so.121	so.121	ADV
ftr-309	736	30	perhaps	perhaps	ADV
ftr-309	736	31	,	,	PUNCT
ftr-309	736	32	for	for	ADP
ftr-309	736	33	example	example	NOUN
ftr-309	736	34	,	,	PUNCT
ftr-309	736	35	ron	ron	PROPN
ftr-309	736	36	is	be	AUX
ftr-309	736	37	responsible	responsible	ADJ
ftr-309	736	38	for	for	ADP
ftr-309	736	39	managing	manage	VERB
ftr-309	736	40	the	the	DET
ftr-309	736	41	120	120	NUM
ftr-309	736	42	.	.	PUNCT
ftr-309	737	1	this	this	DET
ftr-309	737	2	amount	amount	NOUN
ftr-309	737	3	is	be	AUX
ftr-309	737	4	determined	determine	VERB
ftr-309	737	5	by	by	ADP
ftr-309	737	6	the	the	DET
ftr-309	737	7	increase	increase	NOUN
ftr-309	737	8	to	to	ADP
ftr-309	737	9	each	each	DET
ftr-309	737	10	partner	partner	NOUN
ftr-309	737	11	's	's	PART
ftr-309	737	12	capital	capital	NOUN
ftr-309	737	13	account	account	NOUN
ftr-309	737	14	.	.	PUNCT
ftr-309	738	1	if	if	SCONJ
ftr-309	738	2	the	the	DET
ftr-309	738	3	partnership	partnership	NOUN
ftr-309	738	4	agreement	agreement	NOUN
ftr-309	738	5	allocates	allocate	VERB
ftr-309	738	6	to	to	ADP
ftr-309	738	7	anne	anne	PROPN
ftr-309	738	8	$	$	SYM
ftr-309	738	9	90	90	NUM
ftr-309	738	10	of	of	ADP
ftr-309	738	11	u.s	u.s	PROPN
ftr-309	738	12	.	.	PROPN
ftr-309	738	13	income	income	NOUN
ftr-309	738	14	and	and	CCONJ
ftr-309	738	15	$	$	SYM
ftr-309	738	16	100	100	NUM
ftr-309	738	17	of	of	ADP
ftr-309	738	18	u.k	u.k	PROPN
ftr-309	738	19	.	.	PROPN
ftr-309	738	20	income	income	PROPN
ftr-309	738	21	,	,	PUNCT
ftr-309	738	22	her	her	PRON
ftr-309	738	23	capital	capital	NOUN
ftr-309	738	24	account	account	NOUN
ftr-309	738	25	will	will	AUX
ftr-309	738	26	increase	increase	VERB
ftr-309	738	27	by	by	ADP
ftr-309	738	28	$	$	SYM
ftr-309	738	29	190	190	NUM
ftr-309	738	30	so	so	SCONJ
ftr-309	738	31	she	she	PRON
ftr-309	738	32	will	will	AUX
ftr-309	738	33	receive	receive	VERB
ftr-309	738	34	$	$	SYM
ftr-309	738	35	190	190	NUM
ftr-309	738	36	more	more	ADJ
ftr-309	738	37	cash	cash	NOUN
ftr-309	738	38	.	.	PUNCT
ftr-309	739	1	if	if	SCONJ
ftr-309	739	2	the	the	DET
ftr-309	739	3	partnership	partnership	NOUN
ftr-309	739	4	agreement	agreement	NOUN
ftr-309	739	5	allocated	allocate	VERB
ftr-309	739	6	to	to	ADP
ftr-309	739	7	ron	ron	PROPN
ftr-309	739	8	$	$	SYM
ftr-309	739	9	10	10	NUM
ftr-309	739	10	of	of	ADP
ftr-309	739	11	u.s	u.s	PROPN
ftr-309	739	12	.	.	PROPN
ftr-309	739	13	income	income	NOUN
ftr-309	739	14	and	and	CCONJ
ftr-309	739	15	$	$	SYM
ftr-309	739	16	900	900	NUM
ftr-309	739	17	of	of	ADP
ftr-309	739	18	u.k	u.k	PROPN
ftr-309	739	19	.	.	PROPN
ftr-309	739	20	income	income	PROPN
ftr-309	739	21	,	,	PUNCT
ftr-309	739	22	his	his	PRON
ftr-309	739	23	capital	capital	NOUN
ftr-309	739	24	account	account	NOUN
ftr-309	739	25	will	will	AUX
ftr-309	739	26	increase	increase	VERB
ftr-309	739	27	by	by	ADP
ftr-309	739	28	$	$	SYM
ftr-309	739	29	910	910	NUM
ftr-309	739	30	so	so	SCONJ
ftr-309	739	31	he	he	PRON
ftr-309	739	32	will	will	AUX
ftr-309	739	33	receive	receive	VERB
ftr-309	739	34	$	$	SYM
ftr-309	739	35	910	910	NUM
ftr-309	739	36	more	more	ADJ
ftr-309	739	37	cash	cash	NOUN
ftr-309	739	38	.	.	PUNCT
ftr-309	740	1	if	if	SCONJ
ftr-309	740	2	the	the	DET
ftr-309	740	3	partnership	partnership	NOUN
ftr-309	740	4	instead	instead	ADV
ftr-309	740	5	allocated	allocate	VERB
ftr-309	740	6	each	each	DET
ftr-309	740	7	type	type	NOUN
ftr-309	740	8	of	of	ADP
ftr-309	740	9	income	income	NOUN
ftr-309	740	10	equally	equally	ADV
ftr-309	740	11	to	to	ADP
ftr-309	740	12	each	each	DET
ftr-309	740	13	partner	partner	NOUN
ftr-309	740	14	,	,	PUNCT
ftr-309	740	15	the	the	DET
ftr-309	740	16	partnership	partnership	NOUN
ftr-309	740	17	would	would	AUX
ftr-309	740	18	allocate	allocate	VERB
ftr-309	740	19	$	$	SYM
ftr-309	740	20	500	500	NUM
ftr-309	740	21	of	of	ADP
ftr-309	740	22	u.k	u.k	PROPN
ftr-309	740	23	.	.	PROPN
ftr-309	740	24	income	income	NOUN
ftr-309	740	25	and	and	CCONJ
ftr-309	740	26	$	$	SYM
ftr-309	740	27	50	50	NUM
ftr-309	740	28	of	of	ADP
ftr-309	740	29	u.s	u.s	PROPN
ftr-309	740	30	.	.	PROPN
ftr-309	740	31	income	income	NOUN
ftr-309	740	32	(	(	PUNCT
ftr-309	740	33	or	or	CCONJ
ftr-309	740	34	$	$	SYM
ftr-309	740	35	550	550	NUM
ftr-309	740	36	total	total	ADJ
ftr-309	740	37	income	income	NOUN
ftr-309	740	38	)	)	PUNCT
ftr-309	740	39	to	to	ADP
ftr-309	740	40	each	each	DET
ftr-309	740	41	partner	partner	NOUN
ftr-309	740	42	,	,	PUNCT
ftr-309	740	43	and	and	CCONJ
ftr-309	740	44	each	each	DET
ftr-309	740	45	partner	partner	NOUN
ftr-309	740	46	's	's	PART
ftr-309	740	47	capital	capital	NOUN
ftr-309	740	48	account	account	NOUN
ftr-309	740	49	would	would	AUX
ftr-309	740	50	increase	increase	VERB
ftr-309	740	51	by	by	ADP
ftr-309	740	52	$	$	SYM
ftr-309	740	53	550	550	NUM
ftr-309	740	54	.	.	PUNCT
ftr-309	741	1	121	121	NUM
ftr-309	741	2	.	.	PUNCT
ftr-309	742	1	see	see	VERB
ftr-309	742	2	supra	supra	PROPN
ftr-309	742	3	note	note	PROPN
ftr-309	742	4	81	81	NUM
ftr-309	742	5	.	.	PUNCT
ftr-309	743	1	184	184	NUM
ftr-309	744	1	[	[	X
ftr-309	744	2	vol	vol	NOUN
ftr-309	744	3	.	.	PUNCT
ftr-309	745	1	14:5	14:5	NUM
ftr-309	745	2	2013	2013	NUM
ftr-309	745	3	]	]	PUNCT
ftr-309	745	4	was	be	AUX
ftr-309	745	5	blackstone	blackstone	NOUN
ftr-309	745	6	's	's	PART
ftr-309	745	7	initial	initial	ADJ
ftr-309	745	8	public	public	ADJ
ftr-309	745	9	offering	offering	NOUN
ftr-309	745	10	too	too	ADV
ftr-309	745	11	good	good	ADJ
ftr-309	745	12	to	to	PART
ftr-309	745	13	be	be	AUX
ftr-309	745	14	true	true	ADJ
ftr-309	745	15	?	?	PUNCT
ftr-309	746	1	partnership	partnership	PROPN
ftr-309	746	2	's	's	PART
ftr-309	746	3	u.k	u.k	PROPN
ftr-309	746	4	.	.	PROPN
ftr-309	746	5	office	office	PROPN
ftr-309	746	6	,	,	PUNCT
ftr-309	746	7	and	and	CCONJ
ftr-309	746	8	anne	anne	PROPN
ftr-309	746	9	is	be	AUX
ftr-309	746	10	responsible	responsible	ADJ
ftr-309	746	11	for	for	ADP
ftr-309	746	12	managing	manage	VERB
ftr-309	746	13	the	the	DET
ftr-309	746	14	partnership	partnership	NOUN
ftr-309	746	15	's	's	PART
ftr-309	746	16	u.s	u.s	PROPN
ftr-309	746	17	.	.	PROPN
ftr-309	746	18	office	office	NOUN
ftr-309	746	19	.	.	PUNCT
ftr-309	747	1	in	in	ADP
ftr-309	747	2	order	order	NOUN
ftr-309	747	3	to	to	PART
ftr-309	747	4	encourage	encourage	VERB
ftr-309	747	5	each	each	DET
ftr-309	747	6	partner	partner	NOUN
ftr-309	747	7	to	to	PART
ftr-309	747	8	manage	manage	VERB
ftr-309	747	9	his	his	PRON
ftr-309	747	10	or	or	CCONJ
ftr-309	747	11	her	her	PRON
ftr-309	747	12	office	office	NOUN
ftr-309	747	13	well	well	ADV
ftr-309	747	14	,	,	PUNCT
ftr-309	747	15	the	the	DET
ftr-309	747	16	partners	partner	NOUN
ftr-309	747	17	could	could	AUX
ftr-309	747	18	agree	agree	VERB
ftr-309	747	19	that	that	SCONJ
ftr-309	747	20	ron	ron	PROPN
ftr-309	747	21	will	will	AUX
ftr-309	747	22	benefit	benefit	VERB
ftr-309	747	23	disproportionately	disproportionately	ADV
ftr-309	747	24	from	from	ADP
ftr-309	747	25	profits	profit	NOUN
ftr-309	747	26	generated	generate	VERB
ftr-309	747	27	by	by	ADP
ftr-309	747	28	the	the	DET
ftr-309	747	29	u.k	u.k	PROPN
ftr-309	747	30	.	.	PROPN
ftr-309	747	31	office	office	PROPN
ftr-309	747	32	,	,	PUNCT
ftr-309	747	33	and	and	CCONJ
ftr-309	747	34	anne	anne	PROPN
ftr-309	747	35	will	will	AUX
ftr-309	747	36	benefit	benefit	VERB
ftr-309	747	37	disproportionately	disproportionately	ADV
ftr-309	747	38	from	from	ADP
ftr-309	747	39	profits	profit	NOUN
ftr-309	747	40	generated	generate	VERB
ftr-309	747	41	by	by	ADP
ftr-309	747	42	the	the	DET
ftr-309	747	43	u.s	u.s	PROPN
ftr-309	747	44	.	.	PROPN
ftr-309	747	45	office	office	NOUN
ftr-309	747	46	.	.	PUNCT
ftr-309	748	1	thus	thus	ADV
ftr-309	748	2	,	,	PUNCT
ftr-309	748	3	in	in	ADP
ftr-309	748	4	example	example	NOUN
ftr-309	748	5	4a	4a	NOUN
ftr-309	748	6	,	,	PUNCT
ftr-309	748	7	when	when	SCONJ
ftr-309	748	8	the	the	DET
ftr-309	748	9	u.s	u.s	PROPN
ftr-309	748	10	.	.	PROPN
ftr-309	748	11	office	office	NOUN
ftr-309	748	12	is	be	AUX
ftr-309	748	13	less	less	ADV
ftr-309	748	14	profitable	profitable	ADJ
ftr-309	748	15	than	than	ADP
ftr-309	748	16	the	the	DET
ftr-309	748	17	u.k	u.k	PROPN
ftr-309	748	18	.	.	PROPN
ftr-309	748	19	office	office	PROPN
ftr-309	748	20	,	,	PUNCT
ftr-309	748	21	anne	anne	PROPN
ftr-309	748	22	agrees	agree	VERB
ftr-309	748	23	to	to	PART
ftr-309	748	24	receive	receive	VERB
ftr-309	748	25	less	less	ADJ
ftr-309	748	26	than	than	ADP
ftr-309	748	27	half	half	NOUN
ftr-309	748	28	of	of	ADP
ftr-309	748	29	the	the	DET
ftr-309	748	30	partnership	partnership	NOUN
ftr-309	748	31	's	's	PART
ftr-309	748	32	profits	profit	NOUN
ftr-309	748	33	in	in	ADP
ftr-309	748	34	order	order	NOUN
ftr-309	748	35	to	to	PART
ftr-309	748	36	abide	abide	VERB
ftr-309	748	37	by	by	ADP
ftr-309	748	38	the	the	DET
ftr-309	748	39	partners	partner	NOUN
ftr-309	748	40	'	'	PART
ftr-309	748	41	business	business	NOUN
ftr-309	748	42	deal	deal	NOUN
ftr-309	748	43	and	and	CCONJ
ftr-309	748	44	not	not	PART
ftr-309	748	45	to	to	PART
ftr-309	748	46	save	save	VERB
ftr-309	748	47	ron	ron	PROPN
ftr-309	748	48	taxes	taxis	NOUN
ftr-309	748	49	.	.	PUNCT
ftr-309	749	1	now	now	ADV
ftr-309	749	2	consider	consider	VERB
ftr-309	749	3	a	a	DET
ftr-309	749	4	slightly	slightly	ADV
ftr-309	749	5	different	different	ADJ
ftr-309	749	6	example	example	NOUN
ftr-309	749	7	.	.	PUNCT
ftr-309	750	1	example	example	NOUN
ftr-309	750	2	4b	4b	PROPN
ftr-309	750	3	.	.	PUNCT
ftr-309	751	1	assume	assume	VERB
ftr-309	751	2	the	the	DET
ftr-309	751	3	same	same	ADJ
ftr-309	751	4	facts	fact	NOUN
ftr-309	751	5	as	as	ADP
ftr-309	751	6	example	example	NOUN
ftr-309	751	7	4a	4a	NOUN
ftr-309	751	8	except	except	SCONJ
ftr-309	751	9	that	that	PRON
ftr-309	751	10	anne	anne	PROPN
ftr-309	751	11	and	and	CCONJ
ftr-309	751	12	ron	ron	PROPN
ftr-309	751	13	are	be	AUX
ftr-309	751	14	close	close	ADJ
ftr-309	751	15	relatives	relative	NOUN
ftr-309	751	16	.	.	PUNCT
ftr-309	752	1	because	because	SCONJ
ftr-309	752	2	all	all	DET
ftr-309	752	3	other	other	ADJ
ftr-309	752	4	facts	fact	NOUN
ftr-309	752	5	are	be	AUX
ftr-309	752	6	the	the	DET
ftr-309	752	7	same	same	ADJ
ftr-309	752	8	as	as	ADP
ftr-309	752	9	example	example	NOUN
ftr-309	752	10	4a	4a	NUM
ftr-309	752	11	,	,	PUNCT
ftr-309	752	12	table	table	NOUN
ftr-309	752	13	1	1	NUM
ftr-309	752	14	above	above	ADV
ftr-309	752	15	again	again	ADV
ftr-309	752	16	illustrates	illustrate	VERB
ftr-309	752	17	the	the	DET
ftr-309	752	18	after	after	ADP
ftr-309	752	19	-	-	PUNCT
ftr-309	752	20	tax	tax	NOUN
ftr-309	752	21	profit	profit	NOUN
ftr-309	752	22	realized	realize	VERB
ftr-309	752	23	by	by	ADP
ftr-309	752	24	each	each	DET
ftr-309	752	25	partner	partner	NOUN
ftr-309	752	26	under	under	ADP
ftr-309	752	27	the	the	DET
ftr-309	752	28	agreement	agreement	NOUN
ftr-309	752	29	compared	compare	VERB
ftr-309	752	30	to	to	ADP
ftr-309	752	31	what	what	PRON
ftr-309	752	32	would	would	AUX
ftr-309	752	33	have	have	AUX
ftr-309	752	34	occurred	occur	VERB
ftr-309	752	35	if	if	SCONJ
ftr-309	752	36	the	the	DET
ftr-309	752	37	partnership	partnership	NOUN
ftr-309	752	38	allocated	allocate	VERB
ftr-309	752	39	each	each	DET
ftr-309	752	40	type	type	NOUN
ftr-309	752	41	of	of	ADP
ftr-309	752	42	income	income	NOUN
ftr-309	752	43	equally	equally	ADV
ftr-309	752	44	to	to	ADP
ftr-309	752	45	each	each	DET
ftr-309	752	46	partner	partner	NOUN
ftr-309	752	47	.	.	PUNCT
ftr-309	753	1	still	still	ADV
ftr-309	753	2	,	,	PUNCT
ftr-309	753	3	the	the	DET
ftr-309	753	4	allocations	allocation	NOUN
ftr-309	753	5	make	make	VERB
ftr-309	753	6	anne	anne	PROPN
ftr-309	753	7	worse	bad	ADJ
ftr-309	753	8	off	off	ADP
ftr-309	753	9	after	after	ADP
ftr-309	753	10	tax	tax	NOUN
ftr-309	753	11	.	.	PUNCT
ftr-309	754	1	however	however	ADV
ftr-309	754	2	,	,	PUNCT
ftr-309	754	3	now	now	ADV
ftr-309	754	4	that	that	SCONJ
ftr-309	754	5	anne	anne	PROPN
ftr-309	754	6	and	and	CCONJ
ftr-309	754	7	ron	ron	PROPN
ftr-309	754	8	are	be	AUX
ftr-309	754	9	close	close	ADJ
ftr-309	754	10	relatives	relative	NOUN
ftr-309	754	11	,	,	PUNCT
ftr-309	754	12	this	this	DET
ftr-309	754	13	result	result	NOUN
ftr-309	754	14	provides	provide	VERB
ftr-309	754	15	no	no	DET
ftr-309	754	16	assurance	assurance	NOUN
ftr-309	754	17	that	that	SCONJ
ftr-309	754	18	the	the	DET
ftr-309	754	19	allocations	allocation	NOUN
ftr-309	754	20	are	be	AUX
ftr-309	754	21	not	not	PART
ftr-309	754	22	purely	purely	ADV
ftr-309	754	23	tax	tax	NOUN
ftr-309	754	24	-	-	PUNCT
ftr-309	754	25	motivated	motivated	ADJ
ftr-309	754	26	.	.	PUNCT
ftr-309	755	1	if	if	SCONJ
ftr-309	755	2	ron	ron	PROPN
ftr-309	755	3	and	and	CCONJ
ftr-309	755	4	anne	anne	PROPN
ftr-309	755	5	are	be	AUX
ftr-309	755	6	closely	closely	ADV
ftr-309	755	7	related	relate	VERB
ftr-309	755	8	,	,	PUNCT
ftr-309	755	9	as	as	ADV
ftr-309	755	10	far	far	ADV
ftr-309	755	11	as	as	SCONJ
ftr-309	755	12	each	each	DET
ftr-309	755	13	individual	individual	NOUN
ftr-309	755	14	is	be	AUX
ftr-309	755	15	concerned	concern	VERB
ftr-309	755	16	,	,	PUNCT
ftr-309	755	17	a	a	DET
ftr-309	755	18	dollar	dollar	NOUN
ftr-309	755	19	distributed	distribute	VERB
ftr-309	755	20	by	by	ADP
ftr-309	755	21	the	the	DET
ftr-309	755	22	partnership	partnership	NOUN
ftr-309	755	23	to	to	ADP
ftr-309	755	24	ron	ron	PROPN
ftr-309	755	25	may	may	AUX
ftr-309	755	26	be	be	AUX
ftr-309	755	27	the	the	DET
ftr-309	755	28	same	same	ADJ
ftr-309	755	29	as	as	ADP
ftr-309	755	30	a	a	DET
ftr-309	755	31	dollar	dollar	NOUN
ftr-309	755	32	distributed	distribute	VERB
ftr-309	755	33	by	by	ADP
ftr-309	755	34	the	the	DET
ftr-309	755	35	partnership	partnership	NOUN
ftr-309	755	36	to	to	ADP
ftr-309	755	37	anne	anne	PROPN
ftr-309	755	38	.	.	PUNCT
ftr-309	756	1	in	in	ADP
ftr-309	756	2	that	that	DET
ftr-309	756	3	case	case	NOUN
ftr-309	756	4	,	,	PUNCT
ftr-309	756	5	the	the	DET
ftr-309	756	6	partners	partner	NOUN
ftr-309	756	7	could	could	AUX
ftr-309	756	8	freely	freely	ADV
ftr-309	756	9	agree	agree	VERB
ftr-309	756	10	to	to	ADP
ftr-309	756	11	the	the	DET
ftr-309	756	12	allocations	allocation	NOUN
ftr-309	756	13	in	in	ADP
ftr-309	756	14	example	example	NOUN
ftr-309	756	15	4b	4b	PROPN
ftr-309	756	16	solely	solely	ADV
ftr-309	756	17	to	to	PART
ftr-309	756	18	reduce	reduce	VERB
ftr-309	756	19	their	their	PRON
ftr-309	756	20	tax	tax	NOUN
ftr-309	756	21	liability	liability	NOUN
ftr-309	756	22	.	.	PUNCT
ftr-309	757	1	if	if	SCONJ
ftr-309	757	2	the	the	DET
ftr-309	757	3	partners	partner	NOUN
ftr-309	757	4	are	be	AUX
ftr-309	757	5	indifferent	indifferent	ADJ
ftr-309	757	6	regarding	regard	VERB
ftr-309	757	7	how	how	SCONJ
ftr-309	757	8	they	they	PRON
ftr-309	757	9	share	share	VERB
ftr-309	757	10	after	after	ADP
ftr-309	757	11	-	-	PUNCT
ftr-309	757	12	tax	tax	NOUN
ftr-309	757	13	profit	profit	NOUN
ftr-309	757	14	,	,	PUNCT
ftr-309	757	15	they	they	PRON
ftr-309	757	16	will	will	AUX
ftr-309	757	17	look	look	VERB
ftr-309	757	18	only	only	ADV
ftr-309	757	19	to	to	PART
ftr-309	757	20	total	total	VERB
ftr-309	757	21	after	after	ADP
ftr-309	757	22	-	-	PUNCT
ftr-309	757	23	tax	tax	NOUN
ftr-309	757	24	profit	profit	NOUN
ftr-309	757	25	in	in	ADP
ftr-309	757	26	deciding	decide	VERB
ftr-309	757	27	how	how	SCONJ
ftr-309	757	28	the	the	DET
ftr-309	757	29	partnership	partnership	NOUN
ftr-309	757	30	allocates	allocate	VERB
ftr-309	757	31	items	item	NOUN
ftr-309	757	32	among	among	ADP
ftr-309	757	33	the	the	DET
ftr-309	757	34	partners	partner	NOUN
ftr-309	757	35	.	.	PUNCT
ftr-309	758	1	in	in	ADP
ftr-309	758	2	example	example	NOUN
ftr-309	758	3	4b	4b	PROPN
ftr-309	758	4	,	,	PUNCT
ftr-309	758	5	the	the	DET
ftr-309	758	6	allocations	allocation	NOUN
ftr-309	758	7	result	result	VERB
ftr-309	758	8	in	in	ADP
ftr-309	758	9	a	a	DET
ftr-309	758	10	total	total	ADJ
ftr-309	758	11	after	after	ADP
ftr-309	758	12	-	-	PUNCT
ftr-309	758	13	tax	tax	NOUN
ftr-309	758	14	profit	profit	NOUN
ftr-309	758	15	of	of	ADP
ftr-309	758	16	$	$	SYM
ftr-309	758	17	1,030	1,030	NUM
ftr-309	758	18	(	(	PUNCT
ftr-309	758	19	anne	anne	PROPN
ftr-309	758	20	's	's	PART
ftr-309	758	21	$	$	SYM
ftr-309	758	22	123.50	123.50	NUM
ftr-309	758	23	plus	plus	CCONJ
ftr-309	758	24	ron	ron	PROPN
ftr-309	758	25	's	's	PART
ftr-309	758	26	$	$	SYM
ftr-309	758	27	906.50	906.50	NUM
ftr-309	758	28	)	)	PUNCT
ftr-309	758	29	,	,	PUNCT
ftr-309	758	30	which	which	PRON
ftr-309	758	31	is	be	AUX
ftr-309	758	32	$	$	SYM
ftr-309	758	33	140	140	NUM
ftr-309	758	34	higher	high	ADJ
ftr-309	758	35	than	than	ADP
ftr-309	758	36	the	the	DET
ftr-309	758	37	$	$	SYM
ftr-309	758	38	890	890	NUM
ftr-309	758	39	after	after	ADP
ftr-309	758	40	-	-	PUNCT
ftr-309	758	41	tax	tax	NOUN
ftr-309	758	42	profit	profit	NOUN
ftr-309	758	43	(	(	PUNCT
ftr-309	758	44	anne	anne	PROPN
ftr-309	758	45	's	's	PART
ftr-309	758	46	$	$	SYM
ftr-309	758	47	357.50	357.50	NUM
ftr-309	758	48	plus	plus	CCONJ
ftr-309	758	49	ron	ron	PROPN
ftr-309	758	50	's	's	PART
ftr-309	758	51	$	$	SYM
ftr-309	758	52	532.50	532.50	NUM
ftr-309	758	53	)	)	PUNCT
ftr-309	758	54	that	that	PRON
ftr-309	758	55	would	would	AUX
ftr-309	758	56	have	have	AUX
ftr-309	758	57	resulted	result	VERB
ftr-309	758	58	if	if	SCONJ
ftr-309	758	59	the	the	DET
ftr-309	758	60	partnership	partnership	NOUN
ftr-309	758	61	allocated	allocate	VERB
ftr-309	758	62	each	each	DET
ftr-309	758	63	type	type	NOUN
ftr-309	758	64	of	of	ADP
ftr-309	758	65	income	income	NOUN
ftr-309	758	66	equally	equally	ADV
ftr-309	758	67	to	to	ADP
ftr-309	758	68	each	each	DET
ftr-309	758	69	partner	partner	NOUN
ftr-309	758	70	.	.	PUNCT
ftr-309	759	1	the	the	DET
ftr-309	759	2	$	$	SYM
ftr-309	759	3	140	140	NUM
ftr-309	759	4	difference	difference	NOUN
ftr-309	759	5	results	result	NOUN
ftr-309	759	6	solely	solely	ADV
ftr-309	759	7	from	from	ADP
ftr-309	759	8	saving	save	VERB
ftr-309	759	9	taxes	taxis	NOUN
ftr-309	759	10	paid	pay	VERB
ftr-309	759	11	by	by	ADP
ftr-309	759	12	the	the	DET
ftr-309	759	13	partners	partner	NOUN
ftr-309	759	14	(	(	PUNCT
ftr-309	759	15	saving	save	VERB
ftr-309	759	16	$	$	SYM
ftr-309	759	17	126	126	NUM
ftr-309	759	18	in	in	ADP
ftr-309	759	19	taxes	taxis	NOUN
ftr-309	759	20	for	for	ADP
ftr-309	759	21	anne	anne	PROPN
ftr-309	759	22	and	and	CCONJ
ftr-309	759	23	$	$	SYM
ftr-309	759	24	14	14	NUM
ftr-309	759	25	in	in	ADP
ftr-309	759	26	taxes	taxis	NOUN
ftr-309	759	27	for	for	ADP
ftr-309	759	28	ron	ron	PROPN
ftr-309	759	29	)	)	PUNCT
ftr-309	759	30	.	.	PUNCT
ftr-309	760	1	as	as	ADV
ftr-309	760	2	long	long	ADV
ftr-309	760	3	as	as	SCONJ
ftr-309	760	4	the	the	DET
ftr-309	760	5	partners	partner	NOUN
ftr-309	760	6	do	do	AUX
ftr-309	760	7	not	not	PART
ftr-309	760	8	care	care	VERB
ftr-309	760	9	how	how	SCONJ
ftr-309	760	10	they	they	PRON
ftr-309	760	11	share	share	VERB
ftr-309	760	12	after	after	ADP
ftr-309	760	13	-	-	PUNCT
ftr-309	760	14	tax	tax	NOUN
ftr-309	760	15	profit	profit	NOUN
ftr-309	760	16	,	,	PUNCT
ftr-309	760	17	they	they	PRON
ftr-309	760	18	would	would	AUX
ftr-309	760	19	agree	agree	VERB
ftr-309	760	20	to	to	ADP
ftr-309	760	21	the	the	DET
ftr-309	760	22	allocations	allocation	NOUN
ftr-309	760	23	in	in	ADP
ftr-309	760	24	example	example	NOUN
ftr-309	760	25	4b	4b	PROPN
ftr-309	760	26	for	for	ADP
ftr-309	760	27	the	the	DET
ftr-309	760	28	sole	sole	ADJ
ftr-309	760	29	purpose	purpose	NOUN
ftr-309	760	30	of	of	ADP
ftr-309	760	31	saving	save	VERB
ftr-309	760	32	$	$	SYM
ftr-309	760	33	140	140	NUM
ftr-309	760	34	in	in	ADP
ftr-309	760	35	taxes	taxis	NOUN
ftr-309	760	36	,	,	PUNCT
ftr-309	760	37	and	and	CCONJ
ftr-309	760	38	the	the	DET
ftr-309	760	39	substantiality	substantiality	NOUN
ftr-309	760	40	test	test	NOUN
ftr-309	760	41	would	would	AUX
ftr-309	760	42	not	not	PART
ftr-309	760	43	prevent	prevent	VERB
ftr-309	760	44	this	this	DET
ftr-309	760	45	type	type	NOUN
ftr-309	760	46	of	of	ADP
ftr-309	760	47	tax	tax	NOUN
ftr-309	760	48	-	-	PUNCT
ftr-309	760	49	motivated	motivate	VERB
ftr-309	760	50	allocation	allocation	NOUN
ftr-309	760	51	scheme	scheme	NOUN
ftr-309	760	52	.	.	PUNCT
ftr-309	761	1	122	122	NUM
ftr-309	761	2	in	in	ADP
ftr-309	761	3	other	other	ADJ
ftr-309	761	4	words	word	NOUN
ftr-309	762	1	,	,	PUNCT
ftr-309	762	2	the	the	DET
ftr-309	762	3	substantiality	substantiality	NOUN
ftr-309	762	4	test	test	NOUN
ftr-309	762	5	implicitly	implicitly	ADV
ftr-309	762	6	depends	depend	VERB
ftr-309	762	7	on	on	ADP
ftr-309	762	8	the	the	DET
ftr-309	762	9	assumption	assumption	NOUN
ftr-309	762	10	that	that	SCONJ
ftr-309	762	11	partners	partner	NOUN
ftr-309	762	12	are	be	AUX
ftr-309	762	13	unrelated	unrelated	ADJ
ftr-309	762	14	and	and	CCONJ
ftr-309	762	15	,	,	PUNCT
ftr-309	762	16	thus	thus	ADV
ftr-309	762	17	,	,	PUNCT
ftr-309	762	18	have	have	AUX
ftr-309	762	19	opposing	oppose	VERB
ftr-309	762	20	economic	economic	ADJ
ftr-309	762	21	122	122	NUM
ftr-309	762	22	.	.	PUNCT
ftr-309	763	1	even	even	ADV
ftr-309	763	2	under	under	ADP
ftr-309	763	3	these	these	DET
ftr-309	763	4	facts	fact	NOUN
ftr-309	763	5	,	,	PUNCT
ftr-309	763	6	it	it	PRON
ftr-309	763	7	is	be	AUX
ftr-309	763	8	possible	possible	ADJ
ftr-309	763	9	that	that	SCONJ
ftr-309	763	10	anne	anne	PROPN
ftr-309	763	11	and	and	CCONJ
ftr-309	763	12	ron	ron	PROPN
ftr-309	763	13	may	may	AUX
ftr-309	763	14	have	have	AUX
ftr-309	763	15	agreed	agree	VERB
ftr-309	763	16	to	to	ADP
ftr-309	763	17	the	the	DET
ftr-309	763	18	allocations	allocation	NOUN
ftr-309	763	19	for	for	ADP
ftr-309	763	20	business	business	NOUN
ftr-309	763	21	reasons	reason	NOUN
ftr-309	763	22	and	and	CCONJ
ftr-309	763	23	not	not	PART
ftr-309	763	24	just	just	ADV
ftr-309	763	25	tax	tax	NOUN
ftr-309	763	26	reasons	reason	NOUN
ftr-309	763	27	.	.	PUNCT
ftr-309	764	1	however	however	ADV
ftr-309	764	2	,	,	PUNCT
ftr-309	764	3	the	the	DET
ftr-309	764	4	fact	fact	NOUN
ftr-309	764	5	that	that	SCONJ
ftr-309	764	6	the	the	DET
ftr-309	764	7	allocations	allocation	NOUN
ftr-309	764	8	pass	pass	VERB
ftr-309	764	9	the	the	DET
ftr-309	764	10	substantiality	substantiality	NOUN
ftr-309	764	11	test	test	NOUN
ftr-309	764	12	provides	provide	VERB
ftr-309	764	13	no	no	DET
ftr-309	764	14	assurance	assurance	NOUN
ftr-309	764	15	that	that	PRON
ftr-309	764	16	they	they	PRON
ftr-309	764	17	agreed	agree	VERB
ftr-309	764	18	to	to	ADP
ftr-309	764	19	the	the	DET
ftr-309	764	20	allocations	allocation	NOUN
ftr-309	764	21	for	for	ADP
ftr-309	764	22	non	non	ADJ
ftr-309	764	23	-	-	ADJ
ftr-309	764	24	tax	tax	ADJ
ftr-309	764	25	reasons	reason	NOUN
ftr-309	764	26	.	.	PUNCT
ftr-309	765	1	185	185	NUM
ftr-309	765	2	florida	florida	PROPN
ftr-309	765	3	tax	tax	NOUN
ftr-309	765	4	review	review	NOUN
ftr-309	765	5	interests	interest	NOUN
ftr-309	765	6	.	.	PUNCT
ftr-309	766	1	if	if	SCONJ
ftr-309	766	2	this	this	DET
ftr-309	766	3	assumption	assumption	NOUN
ftr-309	766	4	does	do	AUX
ftr-309	766	5	not	not	PART
ftr-309	766	6	hold	hold	VERB
ftr-309	766	7	true	true	ADJ
ftr-309	766	8	,	,	PUNCT
ftr-309	766	9	substantiality	substantiality	NOUN
ftr-309	766	10	does	do	AUX
ftr-309	766	11	not	not	PART
ftr-309	766	12	adequately	adequately	ADV
ftr-309	766	13	police	police	VERB
ftr-309	766	14	tax	tax	NOUN
ftr-309	766	15	-	-	PUNCT
ftr-309	766	16	motivated	motivate	VERB
ftr-309	766	17	allocations	allocation	NOUN
ftr-309	766	18	.	.	PUNCT
ftr-309	767	1	b.	b.	PROPN
ftr-309	768	1	the	the	DET
ftr-309	768	2	blackstone	blackstone	NOUN
ftr-309	768	3	group	group	NOUN
ftr-309	768	4	structure	structure	NOUN
ftr-309	768	5	takes	take	VERB
ftr-309	768	6	advantage	advantage	NOUN
ftr-309	768	7	of	of	ADP
ftr-309	768	8	the	the	DET
ftr-309	768	9	partnership	partnership	NOUN
ftr-309	768	10	tax	tax	NOUN
ftr-309	768	11	allocation	allocation	NOUN
ftr-309	768	12	rules	rule	NOUN
ftr-309	768	13	'	'	PART
ftr-309	768	14	inability	inability	NOUN
ftr-309	768	15	to	to	PART
ftr-309	768	16	prevent	prevent	VERB
ftr-309	768	17	tax	tax	NOUN
ftr-309	768	18	-	-	PUNCT
ftr-309	768	19	motivated	motivate	VERB
ftr-309	768	20	allocations	allocation	NOUN
ftr-309	768	21	among	among	ADP
ftr-309	768	22	related	related	ADJ
ftr-309	768	23	partners	partner	NOUN
ftr-309	768	24	as	as	SCONJ
ftr-309	768	25	shown	show	VERB
ftr-309	768	26	in	in	ADP
ftr-309	768	27	figure	figure	NOUN
ftr-309	768	28	1	1	NUM
ftr-309	768	29	above	above	ADV
ftr-309	768	30	,	,	PUNCT
ftr-309	768	31	three	three	NUM
ftr-309	768	32	partners	partner	NOUN
ftr-309	768	33	(	(	PUNCT
ftr-309	768	34	in	in	ADP
ftr-309	768	35	particular	particular	ADJ
ftr-309	768	36	,	,	PUNCT
ftr-309	768	37	blackstone	blackstone	NOUN
ftr-309	768	38	group	group	PROPN
ftr-309	768	39	lp	lp	PROPN
ftr-309	768	40	,	,	PUNCT
ftr-309	768	41	u.s	u.s	PROPN
ftr-309	768	42	.	.	PROPN
ftr-309	768	43	subsidiary	subsidiary	NOUN
ftr-309	768	44	,	,	PUNCT
ftr-309	768	45	and	and	CCONJ
ftr-309	768	46	non	non	ADJ
ftr-309	768	47	-	-	ADJ
ftr-309	768	48	u.s	u.s	PROPN
ftr-309	768	49	.	.	PROPN
ftr-309	768	50	subsidiary	subsidiary	NOUN
ftr-309	768	51	)	)	PUNCT
ftr-309	768	52	receive	receive	VERB
ftr-309	768	53	allocations	allocation	NOUN
ftr-309	768	54	from	from	ADP
ftr-309	768	55	the	the	DET
ftr-309	768	56	underlying	underlie	VERB
ftr-309	768	57	partnership	partnership	NOUN
ftr-309	768	58	.	.	PUNCT
ftr-309	769	1	specifically	specifically	ADV
ftr-309	769	2	,	,	PUNCT
ftr-309	769	3	the	the	DET
ftr-309	769	4	underlying	underlie	VERB
ftr-309	769	5	partnership	partnership	NOUN
ftr-309	769	6	allocates	allocate	VERB
ftr-309	769	7	qualified	qualify	VERB
ftr-309	769	8	carried	carry	VERB
ftr-309	769	9	interest	interest	NOUN
ftr-309	769	10	to	to	ADP
ftr-309	769	11	blackstone	blackstone	PROPN
ftr-309	769	12	group	group	PROPN
ftr-309	769	13	lp	lp	PROPN
ftr-309	769	14	,	,	PUNCT
ftr-309	769	15	non	non	ADJ
ftr-309	769	16	-	-	ADJ
ftr-309	769	17	qualified	qualified	ADJ
ftr-309	769	18	u.s	u.s	PROPN
ftr-309	769	19	.	.	PROPN
ftr-309	769	20	carried	carry	VERB
ftr-309	769	21	interest	interest	NOUN
ftr-309	769	22	to	to	ADP
ftr-309	769	23	u.s	u.s	PROPN
ftr-309	769	24	.	.	PROPN
ftr-309	769	25	subsidiary	subsidiary	NOUN
ftr-309	769	26	,	,	PUNCT
ftr-309	769	27	and	and	CCONJ
ftr-309	769	28	non	non	ADJ
ftr-309	769	29	-	-	ADJ
ftr-309	769	30	qualified	qualified	ADJ
ftr-309	769	31	non	non	ADJ
ftr-309	769	32	-	-	ADJ
ftr-309	769	33	u.s	u.s	ADJ
ftr-309	769	34	.	.	PROPN
ftr-309	769	35	carried	carry	VERB
ftr-309	769	36	interest	interest	NOUN
ftr-309	769	37	to	to	ADP
ftr-309	769	38	non	non	ADJ
ftr-309	769	39	-	-	ADJ
ftr-309	769	40	u.s	u.s	PROPN
ftr-309	769	41	.	.	PROPN
ftr-309	769	42	subsidiary	subsidiary	NOUN
ftr-309	769	43	.	.	PUNCT
ftr-309	770	1	in	in	ADP
ftr-309	770	2	order	order	NOUN
ftr-309	770	3	for	for	SCONJ
ftr-309	770	4	these	these	DET
ftr-309	770	5	allocations	allocation	NOUN
ftr-309	770	6	to	to	PART
ftr-309	770	7	have	have	VERB
ftr-309	770	8	economic	economic	ADJ
ftr-309	770	9	effect	effect	NOUN
ftr-309	770	10	,	,	PUNCT
ftr-309	770	11	the	the	DET
ftr-309	770	12	underlying	underlie	VERB
ftr-309	770	13	partnership	partnership	NOUN
ftr-309	770	14	can	can	AUX
ftr-309	770	15	simply	simply	ADV
ftr-309	770	16	maintain	maintain	VERB
ftr-309	770	17	a	a	DET
ftr-309	770	18	capital	capital	NOUN
ftr-309	770	19	account	account	NOUN
ftr-309	770	20	for	for	ADP
ftr-309	770	21	each	each	PRON
ftr-309	770	22	of	of	ADP
ftr-309	770	23	the	the	DET
ftr-309	770	24	partners	partner	NOUN
ftr-309	770	25	and	and	CCONJ
ftr-309	770	26	liquidate	liquidate	NOUN
ftr-309	770	27	based	base	VERB
ftr-309	770	28	on	on	ADP
ftr-309	770	29	capital	capital	NOUN
ftr-309	770	30	account	account	NOUN
ftr-309	770	31	balances	balance	NOUN
ftr-309	770	32	.	.	PUNCT
ftr-309	771	1	12	12	NUM
ftr-309	771	2	3	3	NUM
ftr-309	771	3	it	it	PRON
ftr-309	771	4	is	be	AUX
ftr-309	771	5	likely	likely	ADJ
ftr-309	771	6	the	the	DET
ftr-309	771	7	underlying	underlie	VERB
ftr-309	771	8	partnership	partnership	NOUN
ftr-309	771	9	does	do	VERB
ftr-309	771	10	both	both	PRON
ftr-309	771	11	of	of	ADP
ftr-309	771	12	these	these	DET
ftr-309	771	13	things	thing	NOUN
ftr-309	771	14	,	,	PUNCT
ftr-309	771	15	so	so	SCONJ
ftr-309	771	16	the	the	DET
ftr-309	771	17	allocations	allocation	NOUN
ftr-309	771	18	will	will	AUX
ftr-309	771	19	have	have	VERB
ftr-309	771	20	economic	economic	ADJ
ftr-309	771	21	effect	effect	NOUN
ftr-309	771	22	.	.	PUNCT
ftr-309	772	1	regarding	regard	VERB
ftr-309	772	2	substantiality	substantiality	NOUN
ftr-309	772	3	,	,	PUNCT
ftr-309	772	4	assume	assume	VERB
ftr-309	772	5	for	for	ADP
ftr-309	772	6	purposes	purpose	NOUN
ftr-309	772	7	of	of	ADP
ftr-309	772	8	illustration	illustration	NOUN
ftr-309	772	9	,	,	PUNCT
ftr-309	772	10	that	that	SCONJ
ftr-309	772	11	each	each	DET
ftr-309	772	12	partner	partner	NOUN
ftr-309	772	13	contributed	contribute	VERB
ftr-309	772	14	an	an	DET
ftr-309	772	15	equal	equal	ADJ
ftr-309	772	16	amount	amount	NOUN
ftr-309	772	17	of	of	ADP
ftr-309	772	18	capital	capital	NOUN
ftr-309	772	19	to	to	ADP
ftr-309	772	20	the	the	DET
ftr-309	772	21	underlying	underlie	VERB
ftr-309	772	22	partnership.124	partnership.124	NOUN
ftr-309	772	23	as	as	ADP
ftr-309	772	24	a	a	DET
ftr-309	772	25	result	result	NOUN
ftr-309	772	26	,	,	PUNCT
ftr-309	772	27	the	the	DET
ftr-309	772	28	allocations	allocation	NOUN
ftr-309	772	29	would	would	AUX
ftr-309	772	30	pass	pass	VERB
ftr-309	772	31	muster	muster	NOUN
ftr-309	772	32	under	under	ADP
ftr-309	772	33	the	the	DET
ftr-309	772	34	substantiality	substantiality	NOUN
ftr-309	772	35	test	test	NOUN
ftr-309	772	36	as	as	ADV
ftr-309	772	37	long	long	ADV
ftr-309	772	38	as	as	ADP
ftr-309	772	39	at	at	ADP
ftr-309	772	40	the	the	DET
ftr-309	772	41	time	time	NOUN
ftr-309	772	42	the	the	DET
ftr-309	772	43	partners	partner	NOUN
ftr-309	772	44	agreed	agree	VERB
ftr-309	772	45	to	to	ADP
ftr-309	772	46	the	the	DET
ftr-309	772	47	allocations	allocation	NOUN
ftr-309	772	48	it	it	PRON
ftr-309	772	49	was	be	AUX
ftr-309	772	50	likely	likely	ADJ
ftr-309	772	51	that	that	SCONJ
ftr-309	772	52	the	the	DET
ftr-309	772	53	after	after	ADP
ftr-309	772	54	-	-	PUNCT
ftr-309	772	55	tax	tax	NOUN
ftr-309	772	56	consequences	consequence	NOUN
ftr-309	772	57	of	of	ADP
ftr-309	772	58	at	at	ADV
ftr-309	772	59	least	least	ADV
ftr-309	772	60	one	one	NUM
ftr-309	772	61	partner	partner	NOUN
ftr-309	772	62	would	would	AUX
ftr-309	772	63	,	,	PUNCT
ftr-309	772	64	in	in	ADP
ftr-309	772	65	present	present	ADJ
ftr-309	772	66	value	value	NOUN
ftr-309	772	67	terms	term	NOUN
ftr-309	772	68	,	,	PUNCT
ftr-309	772	69	be	be	AUX
ftr-309	772	70	substantially	substantially	ADV
ftr-309	772	71	diminished	diminish	VERB
ftr-309	772	72	compared	compare	VERB
ftr-309	772	73	to	to	ADP
ftr-309	772	74	what	what	PRON
ftr-309	772	75	would	would	AUX
ftr-309	772	76	happen	happen	VERB
ftr-309	772	77	if	if	SCONJ
ftr-309	772	78	that	that	DET
ftr-309	772	79	partner	partner	NOUN
ftr-309	772	80	were	be	AUX
ftr-309	772	81	allocated	allocate	VERB
ftr-309	772	82	one	one	NUM
ftr-309	772	83	-	-	PUNCT
ftr-309	772	84	third	third	NOUN
ftr-309	772	85	of	of	ADP
ftr-309	772	86	each	each	DET
ftr-309	772	87	type	type	NOUN
ftr-309	772	88	of	of	ADP
ftr-309	772	89	income.125	income.125	NOUN
ftr-309	772	90	assuming	assume	VERB
ftr-309	772	91	that	that	SCONJ
ftr-309	772	92	the	the	DET
ftr-309	772	93	partners	partner	NOUN
ftr-309	772	94	agreed	agree	VERB
ftr-309	772	95	to	to	ADP
ftr-309	772	96	the	the	DET
ftr-309	772	97	allocations	allocation	NOUN
ftr-309	772	98	at	at	ADP
ftr-309	772	99	a	a	DET
ftr-309	772	100	time	time	NOUN
ftr-309	772	101	when	when	SCONJ
ftr-309	772	102	the	the	DET
ftr-309	772	103	partners	partner	NOUN
ftr-309	772	104	did	do	AUX
ftr-309	772	105	not	not	PART
ftr-309	772	106	know	know	VERB
ftr-309	772	107	what	what	DET
ftr-309	772	108	type	type	NOUN
ftr-309	772	109	and	and	CCONJ
ftr-309	772	110	amount	amount	NOUN
ftr-309	772	111	of	of	ADP
ftr-309	772	112	income	income	NOUN
ftr-309	772	113	the	the	DET
ftr-309	772	114	underlying	underlie	VERB
ftr-309	772	115	partnership	partnership	NOUN
ftr-309	772	116	would	would	AUX
ftr-309	772	117	earn	earn	VERB
ftr-309	772	118	in	in	ADP
ftr-309	772	119	each	each	DET
ftr-309	772	120	year	year	NOUN
ftr-309	772	121	,	,	PUNCT
ftr-309	772	122	this	this	DET
ftr-309	772	123	requirement	requirement	NOUN
ftr-309	772	124	is	be	AUX
ftr-309	772	125	likely	likely	ADJ
ftr-309	772	126	met.126	met.126	NOUN
ftr-309	772	127	123	123	NUM
ftr-309	772	128	.	.	PUNCT
ftr-309	773	1	this	this	DET
ftr-309	773	2	analysis	analysis	NOUN
ftr-309	773	3	assumes	assume	VERB
ftr-309	773	4	that	that	SCONJ
ftr-309	773	5	the	the	DET
ftr-309	773	6	underlying	underlie	VERB
ftr-309	773	7	partnership	partnership	NOUN
ftr-309	773	8	also	also	ADV
ftr-309	773	9	takes	take	VERB
ftr-309	773	10	steps	step	NOUN
ftr-309	773	11	to	to	PART
ftr-309	773	12	ensure	ensure	VERB
ftr-309	773	13	that	that	SCONJ
ftr-309	773	14	no	no	DET
ftr-309	773	15	partner	partner	NOUN
ftr-309	773	16	's	's	PART
ftr-309	773	17	capital	capital	NOUN
ftr-309	773	18	account	account	NOUN
ftr-309	773	19	balance	balance	NOUN
ftr-309	773	20	becomes	become	VERB
ftr-309	773	21	or	or	CCONJ
ftr-309	773	22	remains	remain	VERB
ftr-309	773	23	impermissibly	impermissibly	ADV
ftr-309	773	24	negative	negative	ADJ
ftr-309	773	25	.	.	PUNCT
ftr-309	774	1	see	see	VERB
ftr-309	774	2	supra	supra	PROPN
ftr-309	774	3	note	note	PROPN
ftr-309	774	4	98	98	NUM
ftr-309	774	5	.	.	PUNCT
ftr-309	775	1	124	124	NUM
ftr-309	775	2	.	.	PUNCT
ftr-309	776	1	as	as	SCONJ
ftr-309	776	2	discussed	discuss	VERB
ftr-309	776	3	below	below	ADV
ftr-309	776	4	,	,	PUNCT
ftr-309	776	5	even	even	ADV
ftr-309	776	6	if	if	SCONJ
ftr-309	776	7	this	this	DET
ftr-309	776	8	assumption	assumption	NOUN
ftr-309	776	9	is	be	AUX
ftr-309	776	10	incorrect	incorrect	ADJ
ftr-309	776	11	,	,	PUNCT
ftr-309	776	12	the	the	DET
ftr-309	776	13	overall	overall	ADJ
ftr-309	776	14	conclusion	conclusion	NOUN
ftr-309	776	15	of	of	ADP
ftr-309	776	16	the	the	DET
ftr-309	776	17	analysis	analysis	NOUN
ftr-309	776	18	above	above	ADV
ftr-309	776	19	still	still	ADV
ftr-309	776	20	holds	hold	VERB
ftr-309	776	21	true	true	ADJ
ftr-309	776	22	.	.	PUNCT
ftr-309	777	1	see	see	VERB
ftr-309	777	2	infra	infra	NOUN
ftr-309	777	3	note	note	VERB
ftr-309	777	4	128	128	NUM
ftr-309	777	5	and	and	CCONJ
ftr-309	777	6	accompanying	accompany	VERB
ftr-309	777	7	text	text	NOUN
ftr-309	777	8	.	.	PUNCT
ftr-309	778	1	125	125	NUM
ftr-309	778	2	.	.	PUNCT
ftr-309	779	1	see	see	VERB
ftr-309	779	2	supra	supra	PROPN
ftr-309	779	3	notes	note	VERB
ftr-309	779	4	115	115	NUM
ftr-309	779	5	-	-	SYM
ftr-309	779	6	117	117	NUM
ftr-309	779	7	and	and	CCONJ
ftr-309	779	8	accompanying	accompany	VERB
ftr-309	779	9	text	text	NOUN
ftr-309	779	10	.	.	PUNCT
ftr-309	780	1	126	126	X
ftr-309	780	2	.	.	PUNCT
ftr-309	781	1	see	see	VERB
ftr-309	781	2	also	also	ADV
ftr-309	781	3	regs	reg	VERB
ftr-309	781	4	.	.	PUNCT
ftr-309	782	1	§	§	PROPN
ftr-309	782	2	1.704	1.704	NUM
ftr-309	782	3	-	-	NUM
ftr-309	782	4	1(b)(5	1(b)(5	NUM
ftr-309	782	5	)	)	PUNCT
ftr-309	782	6	,	,	PUNCT
ftr-309	782	7	ex	ex	X
ftr-309	782	8	.	.	PUNCT
ftr-309	782	9	(	(	PUNCT
ftr-309	782	10	10)(i	10)(i	NUM
ftr-309	782	11	)	)	PUNCT
ftr-309	782	12	(	(	PUNCT
ftr-309	782	13	providing	provide	VERB
ftr-309	782	14	an	an	DET
ftr-309	782	15	example	example	NOUN
ftr-309	782	16	in	in	ADP
ftr-309	782	17	which	which	PRON
ftr-309	782	18	a	a	DET
ftr-309	782	19	partnership	partnership	NOUN
ftr-309	782	20	agrees	agree	VERB
ftr-309	782	21	to	to	PART
ftr-309	782	22	allocate	allocate	VERB
ftr-309	782	23	disproportionate	disproportionate	ADJ
ftr-309	782	24	amounts	amount	NOUN
ftr-309	782	25	of	of	ADP
ftr-309	782	26	non	non	ADJ
ftr-309	782	27	-	-	ADJ
ftr-309	782	28	u.s	u.s	PROPN
ftr-309	782	29	.	.	PROPN
ftr-309	782	30	income	income	NOUN
ftr-309	782	31	to	to	ADP
ftr-309	782	32	a	a	DET
ftr-309	782	33	non	non	ADJ
ftr-309	782	34	-	-	ADJ
ftr-309	782	35	u.s	u.s	PROPN
ftr-309	782	36	.	.	PROPN
ftr-309	782	37	partner	partner	NOUN
ftr-309	782	38	at	at	ADP
ftr-309	782	39	a	a	DET
ftr-309	782	40	time	time	NOUN
ftr-309	782	41	when	when	SCONJ
ftr-309	782	42	the	the	DET
ftr-309	782	43	partners	partner	NOUN
ftr-309	782	44	could	could	AUX
ftr-309	782	45	not	not	PART
ftr-309	782	46	predict	predict	VERB
ftr-309	782	47	with	with	ADP
ftr-309	782	48	reasonable	reasonable	ADJ
ftr-309	782	49	certainty	certainty	NOUN
ftr-309	782	50	the	the	DET
ftr-309	782	51	amount	amount	NOUN
ftr-309	782	52	and	and	CCONJ
ftr-309	782	53	type	type	NOUN
ftr-309	782	54	of	of	ADP
ftr-309	782	55	income	income	NOUN
ftr-309	782	56	the	the	DET
ftr-309	782	57	partnership	partnership	NOUN
ftr-309	782	58	would	would	AUX
ftr-309	782	59	earn	earn	VERB
ftr-309	782	60	and	and	CCONJ
ftr-309	782	61	concluding	conclude	VERB
ftr-309	782	62	that	that	SCONJ
ftr-309	782	63	the	the	DET
ftr-309	782	64	allocations	allocation	NOUN
ftr-309	782	65	have	have	VERB
ftr-309	782	66	substantial	substantial	ADJ
ftr-309	782	67	economic	economic	ADJ
ftr-309	782	68	effect	effect	NOUN
ftr-309	782	69	)	)	PUNCT
ftr-309	782	70	.	.	PUNCT
ftr-309	783	1	if	if	SCONJ
ftr-309	783	2	,	,	PUNCT
ftr-309	783	3	instead	instead	ADV
ftr-309	783	4	,	,	PUNCT
ftr-309	783	5	the	the	DET
ftr-309	783	6	partners	partner	NOUN
ftr-309	783	7	knew	know	VERB
ftr-309	783	8	the	the	DET
ftr-309	783	9	type	type	NOUN
ftr-309	783	10	and	and	CCONJ
ftr-309	783	11	amount	amount	NOUN
ftr-309	783	12	of	of	ADP
ftr-309	783	13	income	income	NOUN
ftr-309	783	14	that	that	PRON
ftr-309	783	15	the	the	DET
ftr-309	783	16	underlying	underlie	VERB
ftr-309	783	17	partnership	partnership	NOUN
ftr-309	783	18	would	would	AUX
ftr-309	783	19	earn	earn	VERB
ftr-309	783	20	,	,	PUNCT
ftr-309	783	21	then	then	ADV
ftr-309	783	22	it	it	PRON
ftr-309	783	23	is	be	AUX
ftr-309	783	24	likely	likely	ADJ
ftr-309	783	25	the	the	DET
ftr-309	783	26	partners	partner	NOUN
ftr-309	783	27	contributed	contribute	VERB
ftr-309	783	28	capital	capital	NOUN
ftr-309	783	29	in	in	ADP
ftr-309	783	30	a	a	DET
ftr-309	783	31	given	give	VERB
ftr-309	783	32	ratio	ratio	NOUN
ftr-309	783	33	intended	intend	VERB
ftr-309	783	34	to	to	PART
ftr-309	783	35	guarantee	guarantee	VERB
ftr-309	783	36	that	that	SCONJ
ftr-309	783	37	at	at	ADV
ftr-309	783	38	least	least	ADV
ftr-309	783	39	one	one	NUM
ftr-309	783	40	partner	partner	NOUN
ftr-309	783	41	would	would	AUX
ftr-309	783	42	be	be	AUX
ftr-309	783	43	worse	bad	ADJ
ftr-309	783	44	off	off	ADV
ftr-309	783	45	,	,	PUNCT
ftr-309	783	46	after	after	ADP
ftr-309	783	47	tax	tax	NOUN
ftr-309	783	48	,	,	PUNCT
ftr-309	783	49	as	as	ADP
ftr-309	783	50	a	a	DET
ftr-309	783	51	result	result	NOUN
ftr-309	783	52	of	of	ADP
ftr-309	783	53	the	the	DET
ftr-309	783	54	underlying	underlie	VERB
ftr-309	783	55	partnership	partnership	NOUN
ftr-309	783	56	's	's	PART
ftr-309	783	57	allocations	allocation	NOUN
ftr-309	783	58	.	.	PUNCT
ftr-309	784	1	the	the	DET
ftr-309	784	2	partners	partner	NOUN
ftr-309	784	3	would	would	AUX
ftr-309	784	4	have	have	AUX
ftr-309	784	5	done	do	VERB
ftr-309	784	6	this	this	PRON
ftr-309	784	7	to	to	PART
ftr-309	784	8	ensure	ensure	VERB
ftr-309	784	9	that	that	SCONJ
ftr-309	784	10	the	the	DET
ftr-309	784	11	186	186	NUM
ftr-309	784	12	[	[	NOUN
ftr-309	784	13	vol	vol	NOUN
ftr-309	784	14	.	.	PUNCT
ftr-309	784	15	14:5	14:5	NUM
ftr-309	784	16	2013	2013	NUM
ftr-309	784	17	]	]	PUNCT
ftr-309	784	18	was	be	AUX
ftr-309	784	19	blackstone	blackstone	NOUN
ftr-309	784	20	's	's	PART
ftr-309	784	21	initial	initial	ADJ
ftr-309	784	22	public	public	ADJ
ftr-309	784	23	offering	offering	NOUN
ftr-309	784	24	too	too	ADV
ftr-309	784	25	good	good	ADJ
ftr-309	784	26	to	to	PART
ftr-309	784	27	be	be	AUX
ftr-309	784	28	true	true	ADJ
ftr-309	784	29	?	?	PUNCT
ftr-309	785	1	for	for	ADP
ftr-309	785	2	instance	instance	NOUN
ftr-309	785	3	,	,	PUNCT
ftr-309	785	4	at	at	ADP
ftr-309	785	5	the	the	DET
ftr-309	785	6	time	time	NOUN
ftr-309	785	7	the	the	DET
ftr-309	785	8	partners	partner	NOUN
ftr-309	785	9	agreed	agree	VERB
ftr-309	785	10	to	to	ADP
ftr-309	785	11	the	the	DET
ftr-309	785	12	allocations	allocation	NOUN
ftr-309	785	13	,	,	PUNCT
ftr-309	785	14	it	it	PRON
ftr-309	785	15	could	could	AUX
ftr-309	785	16	have	have	AUX
ftr-309	785	17	been	be	AUX
ftr-309	785	18	likely	likely	ADJ
ftr-309	785	19	that	that	SCONJ
ftr-309	785	20	the	the	DET
ftr-309	785	21	underlying	underlie	VERB
ftr-309	785	22	partnership	partnership	NOUN
ftr-309	785	23	would	would	AUX
ftr-309	785	24	earn	earn	VERB
ftr-309	785	25	$	$	SYM
ftr-309	785	26	1.2	1.2	NUM
ftr-309	785	27	billion	billion	NUM
ftr-309	785	28	of	of	ADP
ftr-309	785	29	total	total	ADJ
ftr-309	785	30	carried	carry	VERB
ftr-309	785	31	interest	interest	NOUN
ftr-309	785	32	(	(	PUNCT
ftr-309	785	33	consisting	consist	VERB
ftr-309	785	34	of	of	ADP
ftr-309	785	35	$	$	SYM
ftr-309	785	36	600	600	NUM
ftr-309	785	37	million	million	NUM
ftr-309	785	38	of	of	ADP
ftr-309	785	39	qualified	qualified	ADJ
ftr-309	785	40	carried	carry	VERB
ftr-309	785	41	interest	interest	NOUN
ftr-309	785	42	,	,	PUNCT
ftr-309	785	43	$	$	SYM
ftr-309	785	44	300	300	NUM
ftr-309	785	45	million	million	NUM
ftr-309	785	46	of	of	ADP
ftr-309	785	47	non	non	ADJ
ftr-309	785	48	-	-	ADJ
ftr-309	785	49	qualified	qualified	ADJ
ftr-309	785	50	u.s	u.s	PROPN
ftr-309	785	51	.	.	PROPN
ftr-309	785	52	carried	carry	VERB
ftr-309	785	53	interest	interest	NOUN
ftr-309	785	54	,	,	PUNCT
ftr-309	785	55	and	and	CCONJ
ftr-309	785	56	$	$	SYM
ftr-309	785	57	300	300	NUM
ftr-309	785	58	million	million	NUM
ftr-309	785	59	of	of	ADP
ftr-309	785	60	non	non	ADJ
ftr-309	785	61	-	-	ADJ
ftr-309	785	62	qualified	qualified	ADJ
ftr-309	785	63	non	non	ADJ
ftr-309	785	64	-	-	ADJ
ftr-309	785	65	u.s	u.s	ADJ
ftr-309	785	66	.	.	PROPN
ftr-309	785	67	carried	carry	VERB
ftr-309	785	68	interest	interest	NOUN
ftr-309	785	69	)	)	PUNCT
ftr-309	785	70	.	.	PUNCT
ftr-309	786	1	under	under	ADP
ftr-309	786	2	these	these	DET
ftr-309	786	3	facts	fact	NOUN
ftr-309	786	4	,	,	PUNCT
ftr-309	786	5	the	the	DET
ftr-309	786	6	allocations	allocation	NOUN
ftr-309	786	7	in	in	ADP
ftr-309	786	8	the	the	DET
ftr-309	786	9	agreement	agreement	NOUN
ftr-309	786	10	make	make	VERB
ftr-309	786	11	u.s	u.s	PROPN
ftr-309	786	12	.	.	PROPN
ftr-309	786	13	subsidiary	subsidiary	NOUN
ftr-309	786	14	worse	bad	ADJ
ftr-309	786	15	off	off	ADP
ftr-309	786	16	after	after	ADP
ftr-309	786	17	tax	tax	NOUN
ftr-309	786	18	compared	compare	VERB
ftr-309	786	19	to	to	ADP
ftr-309	786	20	what	what	PRON
ftr-309	786	21	would	would	AUX
ftr-309	786	22	happen	happen	VERB
ftr-309	786	23	if	if	SCONJ
ftr-309	786	24	u.s	u.s	PROPN
ftr-309	786	25	.	.	PROPN
ftr-309	786	26	subsidiary	subsidiary	NOUN
ftr-309	786	27	were	be	AUX
ftr-309	786	28	allocated	allocate	VERB
ftr-309	786	29	one	one	NUM
ftr-309	786	30	-	-	PUNCT
ftr-309	786	31	third	third	NOUN
ftr-309	786	32	of	of	ADP
ftr-309	786	33	all	all	PRON
ftr-309	786	34	carried	carry	VERB
ftr-309	786	35	interest	interest	NOUN
ftr-309	786	36	.	.	PUNCT
ftr-309	787	1	in	in	ADP
ftr-309	787	2	particular	particular	ADJ
ftr-309	787	3	,	,	PUNCT
ftr-309	787	4	as	as	ADP
ftr-309	787	5	a	a	DET
ftr-309	787	6	result	result	NOUN
ftr-309	787	7	of	of	ADP
ftr-309	787	8	the	the	DET
ftr-309	787	9	allocations	allocation	NOUN
ftr-309	787	10	in	in	ADP
ftr-309	787	11	the	the	DET
ftr-309	787	12	agreement	agreement	NOUN
ftr-309	787	13	,	,	PUNCT
ftr-309	787	14	u.s	u.s	PROPN
ftr-309	787	15	.	.	PROPN
ftr-309	787	16	subsidiary	subsidiary	NOUN
ftr-309	787	17	earns	earn	VERB
ftr-309	787	18	$	$	SYM
ftr-309	787	19	195	195	NUM
ftr-309	787	20	million	million	NUM
ftr-309	787	21	in	in	ADP
ftr-309	787	22	after	after	ADP
ftr-309	787	23	-	-	PUNCT
ftr-309	787	24	tax	tax	NOUN
ftr-309	787	25	profit	profit	NOUN
ftr-309	787	26	(	(	PUNCT
ftr-309	787	27	$	$	SYM
ftr-309	787	28	300	300	NUM
ftr-309	787	29	million	million	NUM
ftr-309	787	30	of	of	ADP
ftr-309	787	31	nonqualified	nonqualified	ADJ
ftr-309	787	32	u.s	u.s	PROPN
ftr-309	787	33	.	.	PROPN
ftr-309	787	34	carried	carry	VERB
ftr-309	787	35	interest	interest	NOUN
ftr-309	787	36	minus	minus	CCONJ
ftr-309	787	37	35	35	NUM
ftr-309	787	38	percent	percent	NOUN
ftr-309	787	39	tax	tax	NOUN
ftr-309	787	40	rate	rate	NOUN
ftr-309	787	41	times	time	NOUN
ftr-309	787	42	$	$	SYM
ftr-309	787	43	300	300	NUM
ftr-309	787	44	million	million	NUM
ftr-309	787	45	)	)	PUNCT
ftr-309	787	46	.	.	PUNCT
ftr-309	788	1	if	if	SCONJ
ftr-309	788	2	u.s	u.s	PROPN
ftr-309	788	3	.	.	PROPN
ftr-309	788	4	subsidiary	subsidiary	NOUN
ftr-309	788	5	were	be	AUX
ftr-309	788	6	allocated	allocate	VERB
ftr-309	788	7	one	one	NUM
ftr-309	788	8	-	-	PUNCT
ftr-309	788	9	third	third	NOUN
ftr-309	788	10	of	of	ADP
ftr-309	788	11	all	all	PRON
ftr-309	788	12	carried	carry	VERB
ftr-309	788	13	interest	interest	NOUN
ftr-309	788	14	,	,	PUNCT
ftr-309	788	15	u.s	u.s	PROPN
ftr-309	788	16	.	.	PROPN
ftr-309	788	17	subsidiary	subsidiary	NOUN
ftr-309	788	18	would	would	AUX
ftr-309	788	19	earn	earn	VERB
ftr-309	788	20	$	$	SYM
ftr-309	788	21	260	260	NUM
ftr-309	788	22	million	million	NUM
ftr-309	788	23	in	in	ADP
ftr-309	788	24	after	after	ADP
ftr-309	788	25	-	-	PUNCT
ftr-309	788	26	tax	tax	NOUN
ftr-309	788	27	profit	profit	NOUN
ftr-309	788	28	(	(	PUNCT
ftr-309	788	29	$	$	SYM
ftr-309	788	30	400	400	NUM
ftr-309	788	31	million	million	NUM
ftr-309	788	32	carried	carry	VERB
ftr-309	788	33	interest	interest	NOUN
ftr-309	788	34	minus	minus	CCONJ
ftr-309	788	35	35	35	NUM
ftr-309	788	36	percent	percent	NOUN
ftr-309	788	37	tax	tax	NOUN
ftr-309	788	38	rate	rate	NOUN
ftr-309	788	39	times	time	NOUN
ftr-309	788	40	$	$	SYM
ftr-309	788	41	400	400	NUM
ftr-309	788	42	million	million	NUM
ftr-309	788	43	)	)	PUNCT
ftr-309	788	44	.	.	PUNCT
ftr-309	789	1	thus	thus	ADV
ftr-309	789	2	,	,	PUNCT
ftr-309	789	3	the	the	DET
ftr-309	789	4	allocations	allocation	NOUN
ftr-309	789	5	comply	comply	VERB
ftr-309	789	6	with	with	ADP
ftr-309	789	7	the	the	DET
ftr-309	789	8	literal	literal	ADJ
ftr-309	789	9	language	language	NOUN
ftr-309	789	10	of	of	ADP
ftr-309	789	11	the	the	DET
ftr-309	789	12	substantiality	substantiality	NOUN
ftr-309	789	13	test.12	test.12	PROPN
ftr-309	789	14	7	7	NUM
ftr-309	789	15	the	the	DET
ftr-309	789	16	assumption	assumption	NOUN
ftr-309	789	17	that	that	SCONJ
ftr-309	789	18	each	each	DET
ftr-309	789	19	partner	partner	NOUN
ftr-309	789	20	contributed	contribute	VERB
ftr-309	789	21	an	an	DET
ftr-309	789	22	equal	equal	ADJ
ftr-309	789	23	amount	amount	NOUN
ftr-309	789	24	of	of	ADP
ftr-309	789	25	capital	capital	NOUN
ftr-309	789	26	to	to	ADP
ftr-309	789	27	the	the	DET
ftr-309	789	28	underlying	underlie	VERB
ftr-309	789	29	partnership	partnership	NOUN
ftr-309	789	30	was	be	AUX
ftr-309	789	31	used	use	VERB
ftr-309	789	32	merely	merely	ADV
ftr-309	789	33	for	for	ADP
ftr-309	789	34	illustrative	illustrative	ADJ
ftr-309	789	35	purposes	purpose	NOUN
ftr-309	789	36	,	,	PUNCT
ftr-309	789	37	and	and	CCONJ
ftr-309	789	38	it	it	PRON
ftr-309	789	39	could	could	AUX
ftr-309	789	40	be	be	AUX
ftr-309	789	41	that	that	SCONJ
ftr-309	789	42	the	the	DET
ftr-309	789	43	partners	partner	NOUN
ftr-309	789	44	did	do	AUX
ftr-309	789	45	not	not	PART
ftr-309	789	46	contribute	contribute	VERB
ftr-309	789	47	equal	equal	ADJ
ftr-309	789	48	amounts	amount	NOUN
ftr-309	789	49	to	to	ADP
ftr-309	789	50	the	the	DET
ftr-309	789	51	underlying	underlie	VERB
ftr-309	789	52	partnership	partnership	NOUN
ftr-309	789	53	.	.	PUNCT
ftr-309	790	1	however	however	ADV
ftr-309	790	2	,	,	PUNCT
ftr-309	790	3	the	the	DET
ftr-309	790	4	overall	overall	ADJ
ftr-309	790	5	conclusion	conclusion	NOUN
ftr-309	790	6	of	of	ADP
ftr-309	790	7	the	the	DET
ftr-309	790	8	analysis	analysis	NOUN
ftr-309	790	9	above	above	ADV
ftr-309	790	10	still	still	ADV
ftr-309	790	11	holds	hold	VERB
ftr-309	790	12	true	true	ADJ
ftr-309	790	13	.	.	PUNCT
ftr-309	791	1	specifically	specifically	ADV
ftr-309	791	2	,	,	PUNCT
ftr-309	791	3	if	if	SCONJ
ftr-309	791	4	the	the	DET
ftr-309	791	5	allocations	allocation	NOUN
ftr-309	791	6	by	by	ADP
ftr-309	791	7	the	the	DET
ftr-309	791	8	underlying	underlie	VERB
ftr-309	791	9	partnership	partnership	NOUN
ftr-309	791	10	pass	pass	VERB
ftr-309	791	11	the	the	DET
ftr-309	791	12	substantiality	substantiality	NOUN
ftr-309	791	13	test	test	NOUN
ftr-309	791	14	,	,	PUNCT
ftr-309	791	15	they	they	PRON
ftr-309	791	16	do	do	VERB
ftr-309	791	17	so	so	ADV
ftr-309	791	18	only	only	ADV
ftr-309	791	19	because	because	SCONJ
ftr-309	791	20	at	at	ADV
ftr-309	791	21	least	least	ADJ
ftr-309	791	22	one	one	NUM
ftr-309	791	23	of	of	ADP
ftr-309	791	24	the	the	DET
ftr-309	791	25	partners	partner	NOUN
ftr-309	791	26	in	in	ADP
ftr-309	791	27	the	the	DET
ftr-309	791	28	underlying	underlie	VERB
ftr-309	791	29	partnership	partnership	NOUN
ftr-309	791	30	receives	receive	VERB
ftr-309	791	31	less	less	ADJ
ftr-309	791	32	after	after	ADP
ftr-309	791	33	taxes	taxis	NOUN
ftr-309	791	34	than	than	ADP
ftr-309	791	35	what	what	PRON
ftr-309	791	36	it	it	PRON
ftr-309	791	37	would	would	AUX
ftr-309	791	38	receive	receive	VERB
ftr-309	791	39	if	if	SCONJ
ftr-309	791	40	all	all	DET
ftr-309	791	41	items	item	NOUN
ftr-309	791	42	of	of	ADP
ftr-309	791	43	income	income	NOUN
ftr-309	791	44	were	be	AUX
ftr-309	791	45	allocated	allocate	VERB
ftr-309	791	46	among	among	ADP
ftr-309	791	47	all	all	DET
ftr-309	791	48	three	three	NUM
ftr-309	791	49	partners	partner	NOUN
ftr-309	791	50	pro	pro	ADJ
ftr-309	791	51	rata	rata	NOUN
ftr-309	791	52	based	base	VERB
ftr-309	791	53	on	on	ADP
ftr-309	791	54	their	their	PRON
ftr-309	791	55	capital	capital	NOUN
ftr-309	791	56	contributions.128	contributions.128	NOUN
ftr-309	791	57	the	the	DET
ftr-309	791	58	underlying	underlie	VERB
ftr-309	791	59	partnership	partnership	NOUN
ftr-309	791	60	's	's	PART
ftr-309	791	61	allocations	allocation	NOUN
ftr-309	791	62	comply	comply	VERB
ftr-309	791	63	with	with	ADP
ftr-309	791	64	the	the	DET
ftr-309	791	65	literal	literal	ADJ
ftr-309	791	66	language	language	NOUN
ftr-309	791	67	of	of	ADP
ftr-309	791	68	the	the	DET
ftr-309	791	69	substantial	substantial	ADJ
ftr-309	791	70	economic	economic	ADJ
ftr-309	791	71	effect	effect	NOUN
ftr-309	791	72	rules	rule	NOUN
ftr-309	791	73	because	because	SCONJ
ftr-309	791	74	,	,	PUNCT
ftr-309	791	75	under	under	ADP
ftr-309	791	76	these	these	DET
ftr-309	791	77	rules	rule	NOUN
ftr-309	791	78	,	,	PUNCT
ftr-309	791	79	the	the	DET
ftr-309	791	80	fact	fact	NOUN
ftr-309	791	81	that	that	SCONJ
ftr-309	791	82	the	the	DET
ftr-309	791	83	allocations	allocation	NOUN
ftr-309	791	84	worsen	worsen	VERB
ftr-309	791	85	u.s	u.s	PROPN
ftr-309	791	86	.	.	PROPN
ftr-309	791	87	subsidiary	subsidiary	NOUN
ftr-309	791	88	's	's	PART
ftr-309	791	89	(	(	PUNCT
ftr-309	791	90	or	or	CCONJ
ftr-309	791	91	another	another	DET
ftr-309	791	92	partner	partner	NOUN
ftr-309	791	93	's	's	PART
ftr-309	791	94	)	)	PUNCT
ftr-309	791	95	after	after	ADP
ftr-309	791	96	-	-	PUNCT
ftr-309	791	97	tax	tax	NOUN
ftr-309	791	98	position	position	NOUN
ftr-309	791	99	removes	remove	VERB
ftr-309	791	100	the	the	DET
ftr-309	791	101	allocations	allocation	NOUN
ftr-309	791	102	from	from	ADP
ftr-309	791	103	suspicion	suspicion	NOUN
ftr-309	791	104	.	.	PUNCT
ftr-309	792	1	the	the	DET
ftr-309	792	2	rationale	rationale	NOUN
ftr-309	792	3	for	for	ADP
ftr-309	792	4	this	this	DET
ftr-309	792	5	result	result	NOUN
ftr-309	792	6	is	be	AUX
ftr-309	792	7	that	that	SCONJ
ftr-309	792	8	no	no	DET
ftr-309	792	9	partner	partner	NOUN
ftr-309	792	10	would	would	AUX
ftr-309	792	11	agree	agree	VERB
ftr-309	792	12	to	to	ADP
ftr-309	792	13	allocations	allocation	NOUN
ftr-309	792	14	that	that	PRON
ftr-309	792	15	make	make	VERB
ftr-309	792	16	him	he	PRON
ftr-309	792	17	,	,	PUNCT
ftr-309	792	18	her	she	PRON
ftr-309	792	19	,	,	PUNCT
ftr-309	792	20	or	or	CCONJ
ftr-309	792	21	allocations	allocation	NOUN
ftr-309	792	22	complied	comply	VERB
ftr-309	792	23	with	with	ADP
ftr-309	792	24	the	the	DET
ftr-309	792	25	technical	technical	ADJ
ftr-309	792	26	requirements	requirement	NOUN
ftr-309	792	27	of	of	ADP
ftr-309	792	28	the	the	DET
ftr-309	792	29	substantial	substantial	ADJ
ftr-309	792	30	economic	economic	ADJ
ftr-309	792	31	effect	effect	NOUN
ftr-309	792	32	test	test	NOUN
ftr-309	792	33	.	.	PUNCT
ftr-309	793	1	127	127	NUM
ftr-309	793	2	.	.	PUNCT
ftr-309	794	1	this	this	PRON
ftr-309	794	2	is	be	AUX
ftr-309	794	3	true	true	ADJ
ftr-309	794	4	assuming	assume	VERB
ftr-309	794	5	that	that	SCONJ
ftr-309	794	6	related	related	ADJ
ftr-309	794	7	entities	entity	NOUN
ftr-309	794	8	should	should	AUX
ftr-309	794	9	be	be	AUX
ftr-309	794	10	treated	treat	VERB
ftr-309	794	11	as	as	ADP
ftr-309	794	12	separate	separate	ADJ
ftr-309	794	13	partners	partner	NOUN
ftr-309	794	14	when	when	SCONJ
ftr-309	794	15	applying	apply	VERB
ftr-309	794	16	the	the	DET
ftr-309	794	17	substantiality	substantiality	NOUN
ftr-309	794	18	tests	test	NOUN
ftr-309	794	19	,	,	PUNCT
ftr-309	794	20	a	a	DET
ftr-309	794	21	matter	matter	NOUN
ftr-309	794	22	that	that	PRON
ftr-309	794	23	is	be	AUX
ftr-309	794	24	not	not	PART
ftr-309	794	25	entirely	entirely	ADV
ftr-309	794	26	free	free	ADJ
ftr-309	794	27	from	from	ADP
ftr-309	794	28	doubt	doubt	NOUN
ftr-309	794	29	because	because	SCONJ
ftr-309	794	30	the	the	DET
ftr-309	794	31	irs	irs	PROPN
ftr-309	794	32	has	have	AUX
ftr-309	794	33	suggested	suggest	VERB
ftr-309	794	34	otherwise	otherwise	ADV
ftr-309	794	35	.	.	PUNCT
ftr-309	795	1	see	see	VERB
ftr-309	795	2	leder	leder	NOUN
ftr-309	795	3	,	,	PUNCT
ftr-309	795	4	tax	tax	NOUN
ftr-309	795	5	-	-	PUNCT
ftr-309	795	6	driven	drive	VERB
ftr-309	795	7	partnership	partnership	NOUN
ftr-309	795	8	allocations	allocation	NOUN
ftr-309	795	9	,	,	PUNCT
ftr-309	795	10	supra	supra	PROPN
ftr-309	795	11	note	note	NOUN
ftr-309	795	12	13	13	NUM
ftr-309	795	13	,	,	PUNCT
ftr-309	795	14	at	at	ADP
ftr-309	795	15	779	779	NUM
ftr-309	795	16	(	(	PUNCT
ftr-309	795	17	mentioning	mention	VERB
ftr-309	795	18	a	a	DET
ftr-309	795	19	field	field	NOUN
ftr-309	795	20	service	service	NOUN
ftr-309	795	21	advisory	advisory	NOUN
ftr-309	795	22	in	in	ADP
ftr-309	795	23	which	which	PRON
ftr-309	795	24	the	the	DET
ftr-309	795	25	irs	irs	PROPN
ftr-309	795	26	suggested	suggest	VERB
ftr-309	795	27	that	that	SCONJ
ftr-309	795	28	related	related	ADJ
ftr-309	795	29	parties	party	NOUN
ftr-309	795	30	could	could	AUX
ftr-309	795	31	be	be	AUX
ftr-309	795	32	treated	treat	VERB
ftr-309	795	33	as	as	ADP
ftr-309	795	34	one	one	NUM
ftr-309	795	35	partner	partner	NOUN
ftr-309	795	36	when	when	SCONJ
ftr-309	795	37	applying	apply	VERB
ftr-309	795	38	the	the	DET
ftr-309	795	39	substantiality	substantiality	NOUN
ftr-309	795	40	tests	test	NOUN
ftr-309	795	41	)	)	PUNCT
ftr-309	795	42	.	.	PUNCT
ftr-309	796	1	for	for	ADP
ftr-309	796	2	the	the	DET
ftr-309	796	3	advisory	advisory	NOUN
ftr-309	796	4	,	,	PUNCT
ftr-309	796	5	see	see	VERB
ftr-309	796	6	field	field	NOUN
ftr-309	796	7	serv	serv	X
ftr-309	796	8	.	.	PUNCT
ftr-309	797	1	advisory	advisory	PROPN
ftr-309	797	2	(	(	PUNCT
ftr-309	797	3	sept	sept	PROPN
ftr-309	797	4	.	.	PROPN
ftr-309	797	5	10	10	NUM
ftr-309	797	6	,	,	PUNCT
ftr-309	797	7	1993	1993	NUM
ftr-309	797	8	)	)	PUNCT
ftr-309	797	9	,	,	PUNCT
ftr-309	797	10	1993	1993	NUM
ftr-309	797	11	wl	wl	NOUN
ftr-309	797	12	1469410	1469410	NUM
ftr-309	797	13	,	,	PUNCT
ftr-309	797	14	stating	state	VERB
ftr-309	797	15	:	:	PUNCT
ftr-309	797	16	"	"	PUNCT
ftr-309	797	17	given	give	VERB
ftr-309	797	18	the	the	DET
ftr-309	797	19	present	present	ADJ
ftr-309	797	20	facts	fact	NOUN
ftr-309	797	21	,	,	PUNCT
ftr-309	797	22	it	it	PRON
ftr-309	797	23	is	be	AUX
ftr-309	797	24	important	important	ADJ
ftr-309	797	25	to	to	PART
ftr-309	797	26	examine	examine	VERB
ftr-309	797	27	the	the	DET
ftr-309	797	28	economic	economic	ADJ
ftr-309	797	29	relationship	relationship	NOUN
ftr-309	797	30	of	of	ADP
ftr-309	797	31	the	the	DET
ftr-309	797	32	partners	partner	NOUN
ftr-309	797	33	of	of	ADP
ftr-309	797	34	the	the	DET
ftr-309	797	35	partnership	partnership	NOUN
ftr-309	797	36	.	.	PUNCT
ftr-309	798	1	while	while	SCONJ
ftr-309	798	2	the	the	DET
ftr-309	798	3	substantiality	substantiality	NOUN
ftr-309	798	4	regulations	regulation	NOUN
ftr-309	798	5	do	do	AUX
ftr-309	798	6	not	not	PART
ftr-309	798	7	specifically	specifically	ADV
ftr-309	798	8	address	address	VERB
ftr-309	798	9	the	the	DET
ftr-309	798	10	issue	issue	NOUN
ftr-309	798	11	of	of	ADP
ftr-309	798	12	related	related	ADJ
ftr-309	798	13	partners	partner	NOUN
ftr-309	798	14	,	,	PUNCT
ftr-309	798	15	section	section	NOUN
ftr-309	798	16	1.704l(b)(2)(iii)(a	1.704l(b)(2)(iii)(a	NUM
ftr-309	798	17	)	)	PUNCT
ftr-309	798	18	does	do	AUX
ftr-309	798	19	require	require	VERB
ftr-309	798	20	the	the	DET
ftr-309	798	21	service	service	NOUN
ftr-309	798	22	to	to	PART
ftr-309	798	23	consider	consider	VERB
ftr-309	798	24	each	each	DET
ftr-309	798	25	partner	partner	NOUN
ftr-309	798	26	's	's	PART
ftr-309	798	27	tax	tax	NOUN
ftr-309	798	28	attributes	attribute	NOUN
ftr-309	798	29	.	.	PUNCT
ftr-309	798	30	"	"	PUNCT
ftr-309	799	1	128	128	NUM
ftr-309	799	2	.	.	PUNCT
ftr-309	800	1	if	if	SCONJ
ftr-309	800	2	the	the	DET
ftr-309	800	3	allocations	allocation	NOUN
ftr-309	800	4	do	do	AUX
ftr-309	800	5	not	not	PART
ftr-309	800	6	result	result	VERB
ftr-309	800	7	in	in	ADP
ftr-309	800	8	at	at	ADV
ftr-309	800	9	least	least	ADV
ftr-309	800	10	one	one	NUM
ftr-309	800	11	partner	partner	NOUN
ftr-309	800	12	in	in	ADP
ftr-309	800	13	the	the	DET
ftr-309	800	14	underlying	underlie	VERB
ftr-309	800	15	partnership	partnership	NOUN
ftr-309	800	16	receiving	receive	VERB
ftr-309	800	17	less	less	ADJ
ftr-309	800	18	,	,	PUNCT
ftr-309	800	19	after	after	ADP
ftr-309	800	20	tax	tax	NOUN
ftr-309	800	21	,	,	PUNCT
ftr-309	800	22	than	than	ADP
ftr-309	800	23	what	what	PRON
ftr-309	800	24	it	it	PRON
ftr-309	800	25	would	would	AUX
ftr-309	800	26	receive	receive	VERB
ftr-309	800	27	if	if	SCONJ
ftr-309	800	28	all	all	DET
ftr-309	800	29	items	item	NOUN
ftr-309	800	30	of	of	ADP
ftr-309	800	31	income	income	NOUN
ftr-309	800	32	were	be	AUX
ftr-309	800	33	allocated	allocate	VERB
ftr-309	800	34	pro	pro	ADJ
ftr-309	800	35	rata	rata	NOUN
ftr-309	800	36	among	among	ADP
ftr-309	800	37	the	the	DET
ftr-309	800	38	partners	partner	NOUN
ftr-309	800	39	,	,	PUNCT
ftr-309	800	40	then	then	ADV
ftr-309	800	41	the	the	DET
ftr-309	800	42	irs	irs	PROPN
ftr-309	800	43	could	could	AUX
ftr-309	800	44	easily	easily	ADV
ftr-309	800	45	challenge	challenge	VERB
ftr-309	800	46	the	the	DET
ftr-309	800	47	underlying	underlie	VERB
ftr-309	800	48	partnership	partnership	NOUN
ftr-309	800	49	's	's	PART
ftr-309	800	50	allocations	allocation	NOUN
ftr-309	800	51	for	for	ADP
ftr-309	800	52	lacking	lack	VERB
ftr-309	800	53	substantial	substantial	ADJ
ftr-309	800	54	economic	economic	ADJ
ftr-309	800	55	effect	effect	NOUN
ftr-309	800	56	.	.	PUNCT
ftr-309	801	1	187	187	NUM
ftr-309	801	2	florida	florida	PROPN
ftr-309	801	3	tax	tax	NOUN
ftr-309	801	4	review	review	NOUN
ftr-309	801	5	it	it	PRON
ftr-309	801	6	worse	bad	ADJ
ftr-309	801	7	off	off	ADP
ftr-309	801	8	after	after	ADP
ftr-309	801	9	-	-	PUNCT
ftr-309	801	10	tax	tax	NOUN
ftr-309	801	11	absent	absent	NOUN
ftr-309	801	12	a	a	DET
ftr-309	801	13	compelling	compelling	ADJ
ftr-309	801	14	non	non	ADJ
ftr-309	801	15	-	-	ADJ
ftr-309	801	16	tax	tax	ADJ
ftr-309	801	17	business	business	NOUN
ftr-309	801	18	reason	reason	NOUN
ftr-309	801	19	for	for	ADP
ftr-309	801	20	doing	do	VERB
ftr-309	801	21	so.1	so.1	NOUN
ftr-309	801	22	29	29	NUM
ftr-309	801	23	however	however	ADV
ftr-309	801	24	,	,	PUNCT
ftr-309	801	25	although	although	SCONJ
ftr-309	801	26	this	this	DET
ftr-309	801	27	rationale	rationale	NOUN
ftr-309	801	28	may	may	AUX
ftr-309	801	29	apply	apply	VERB
ftr-309	801	30	to	to	ADP
ftr-309	801	31	a	a	DET
ftr-309	801	32	partnership	partnership	NOUN
ftr-309	801	33	in	in	ADP
ftr-309	801	34	which	which	PRON
ftr-309	801	35	the	the	DET
ftr-309	801	36	partners	partner	NOUN
ftr-309	801	37	have	have	AUX
ftr-309	801	38	opposing	oppose	VERB
ftr-309	801	39	economic	economic	ADJ
ftr-309	801	40	interests	interest	NOUN
ftr-309	801	41	(	(	PUNCT
ftr-309	801	42	such	such	ADJ
ftr-309	801	43	as	as	ADP
ftr-309	801	44	the	the	DET
ftr-309	801	45	partnership	partnership	NOUN
ftr-309	801	46	described	describe	VERB
ftr-309	801	47	above	above	ADP
ftr-309	801	48	in	in	ADP
ftr-309	801	49	example	example	NOUN
ftr-309	801	50	4a	4a	NUM
ftr-309	801	51	)	)	PUNCT
ftr-309	801	52	,	,	PUNCT
ftr-309	801	53	this	this	DET
ftr-309	801	54	rationale	rationale	NOUN
ftr-309	801	55	simply	simply	ADV
ftr-309	801	56	does	do	AUX
ftr-309	801	57	not	not	PART
ftr-309	801	58	apply	apply	VERB
ftr-309	801	59	when	when	SCONJ
ftr-309	801	60	the	the	DET
ftr-309	801	61	economic	economic	ADJ
ftr-309	801	62	interests	interest	NOUN
ftr-309	801	63	of	of	ADP
ftr-309	801	64	the	the	DET
ftr-309	801	65	partners	partner	NOUN
ftr-309	801	66	are	be	AUX
ftr-309	801	67	aligned	align	VERB
ftr-309	801	68	(	(	PUNCT
ftr-309	801	69	such	such	ADJ
ftr-309	801	70	as	as	ADP
ftr-309	801	71	in	in	ADP
ftr-309	801	72	the	the	DET
ftr-309	801	73	blackstone	blackstone	NOUN
ftr-309	801	74	group	group	NOUN
ftr-309	801	75	lp	lp	NOUN
ftr-309	801	76	structure	structure	NOUN
ftr-309	801	77	or	or	CCONJ
ftr-309	801	78	in	in	ADP
ftr-309	801	79	example	example	NOUN
ftr-309	801	80	4b	4b	PROPN
ftr-309	801	81	)	)	PUNCT
ftr-309	801	82	.	.	PUNCT
ftr-309	802	1	in	in	ADP
ftr-309	802	2	the	the	DET
ftr-309	802	3	blackstone	blackstone	NOUN
ftr-309	802	4	group	group	NOUN
ftr-309	802	5	lp	lp	PROPN
ftr-309	802	6	structure	structure	NOUN
ftr-309	802	7	,	,	PUNCT
ftr-309	802	8	u.s	u.s	PROPN
ftr-309	802	9	.	.	PROPN
ftr-309	802	10	subsidiary	subsidiary	NOUN
ftr-309	802	11	and	and	CCONJ
ftr-309	802	12	non	non	ADJ
ftr-309	802	13	-	-	ADJ
ftr-309	802	14	u.s	u.s	PROPN
ftr-309	802	15	.	.	PROPN
ftr-309	802	16	subsidiary	subsidiary	NOUN
ftr-309	802	17	(	(	PUNCT
ftr-309	802	18	two	two	NUM
ftr-309	802	19	of	of	ADP
ftr-309	802	20	the	the	DET
ftr-309	802	21	partners	partner	NOUN
ftr-309	802	22	in	in	ADP
ftr-309	802	23	the	the	DET
ftr-309	802	24	underlying	underlie	VERB
ftr-309	802	25	partnership	partnership	NOUN
ftr-309	802	26	)	)	PUNCT
ftr-309	802	27	are	be	AUX
ftr-309	802	28	wholly	wholly	ADV
ftr-309	802	29	-	-	PUNCT
ftr-309	802	30	owned	own	VERB
ftr-309	802	31	by	by	ADP
ftr-309	802	32	blackstone	blackstone	NOUN
ftr-309	802	33	group	group	NOUN
ftr-309	802	34	lp	lp	PROPN
ftr-309	802	35	(	(	PUNCT
ftr-309	802	36	the	the	DET
ftr-309	802	37	third	third	ADJ
ftr-309	802	38	partner	partner	NOUN
ftr-309	802	39	in	in	ADP
ftr-309	802	40	the	the	DET
ftr-309	802	41	underlying	underlie	VERB
ftr-309	802	42	partnership	partnership	NOUN
ftr-309	802	43	)	)	PUNCT
ftr-309	802	44	.	.	PUNCT
ftr-309	803	1	thus	thus	ADV
ftr-309	803	2	,	,	PUNCT
ftr-309	803	3	the	the	DET
ftr-309	803	4	economic	economic	ADJ
ftr-309	803	5	interests	interest	NOUN
ftr-309	803	6	of	of	ADP
ftr-309	803	7	the	the	DET
ftr-309	803	8	three	three	NUM
ftr-309	803	9	partners	partner	NOUN
ftr-309	803	10	in	in	ADP
ftr-309	803	11	the	the	DET
ftr-309	803	12	underlying	underlie	VERB
ftr-309	803	13	partnership	partnership	NOUN
ftr-309	803	14	are	be	AUX
ftr-309	803	15	completely	completely	ADV
ftr-309	803	16	aligned	align	VERB
ftr-309	803	17	,	,	PUNCT
ftr-309	803	18	and	and	CCONJ
ftr-309	803	19	all	all	DET
ftr-309	803	20	three	three	NUM
ftr-309	803	21	partners	partner	NOUN
ftr-309	803	22	in	in	ADP
ftr-309	803	23	the	the	DET
ftr-309	803	24	underlying	underlie	VERB
ftr-309	803	25	partnership	partnership	NOUN
ftr-309	803	26	are	be	AUX
ftr-309	803	27	indifferent	indifferent	ADJ
ftr-309	803	28	regarding	regard	VERB
ftr-309	803	29	how	how	SCONJ
ftr-309	803	30	after	after	ADP
ftr-309	803	31	-	-	PUNCT
ftr-309	803	32	tax	tax	NOUN
ftr-309	803	33	profits	profit	NOUN
ftr-309	803	34	are	be	AUX
ftr-309	803	35	shared	share	VERB
ftr-309	803	36	among	among	ADP
ftr-309	803	37	them	they	PRON
ftr-309	803	38	.	.	PUNCT
ftr-309	804	1	consequently	consequently	ADV
ftr-309	804	2	,	,	PUNCT
ftr-309	804	3	the	the	DET
ftr-309	804	4	fact	fact	NOUN
ftr-309	804	5	that	that	SCONJ
ftr-309	804	6	the	the	DET
ftr-309	804	7	allocations	allocation	NOUN
ftr-309	804	8	by	by	ADP
ftr-309	804	9	the	the	DET
ftr-309	804	10	underlying	underlie	VERB
ftr-309	804	11	partnership	partnership	NOUN
ftr-309	804	12	make	make	VERB
ftr-309	804	13	u.s	u.s	PROPN
ftr-309	804	14	.	.	PROPN
ftr-309	804	15	subsidiary	subsidiary	NOUN
ftr-309	804	16	(	(	PUNCT
ftr-309	804	17	or	or	CCONJ
ftr-309	804	18	any	any	DET
ftr-309	804	19	other	other	ADJ
ftr-309	804	20	partner	partner	NOUN
ftr-309	804	21	in	in	ADP
ftr-309	804	22	the	the	DET
ftr-309	804	23	underlying	underlie	VERB
ftr-309	804	24	partnership	partnership	NOUN
ftr-309	804	25	)	)	PUNCT
ftr-309	804	26	worse	bad	ADJ
ftr-309	804	27	off	off	ADP
ftr-309	804	28	after	after	SCONJ
ftr-309	804	29	tax	tax	NOUN
ftr-309	804	30	provides	provide	VERB
ftr-309	804	31	no	no	DET
ftr-309	804	32	assurance	assurance	NOUN
ftr-309	804	33	that	that	SCONJ
ftr-309	804	34	the	the	DET
ftr-309	804	35	allocations	allocation	NOUN
ftr-309	804	36	are	be	AUX
ftr-309	804	37	not	not	PART
ftr-309	804	38	tax	tax	NOUN
ftr-309	804	39	-	-	PUNCT
ftr-309	804	40	motivated	motivated	ADJ
ftr-309	804	41	.	.	PUNCT
ftr-309	805	1	indeed	indeed	ADV
ftr-309	805	2	,	,	PUNCT
ftr-309	805	3	as	as	SCONJ
ftr-309	805	4	described	describe	VERB
ftr-309	805	5	in	in	ADP
ftr-309	805	6	part	part	PROPN
ftr-309	805	7	ii	ii	PROPN
ftr-309	805	8	above	above	ADV
ftr-309	805	9	,	,	PUNCT
ftr-309	805	10	the	the	DET
ftr-309	805	11	allocations	allocation	NOUN
ftr-309	805	12	are	be	AUX
ftr-309	805	13	entirely	entirely	ADV
ftr-309	805	14	motivated	motivate	VERB
ftr-309	805	15	by	by	ADP
ftr-309	805	16	the	the	DET
ftr-309	805	17	goal	goal	NOUN
ftr-309	805	18	of	of	ADP
ftr-309	805	19	saving	save	VERB
ftr-309	805	20	corporate	corporate	ADJ
ftr-309	805	21	-	-	PUNCT
ftr-309	805	22	level	level	NOUN
ftr-309	805	23	tax	tax	NOUN
ftr-309	805	24	that	that	PRON
ftr-309	805	25	would	would	AUX
ftr-309	805	26	be	be	AUX
ftr-309	805	27	imposed	impose	VERB
ftr-309	805	28	on	on	ADP
ftr-309	805	29	all	all	PRON
ftr-309	805	30	of	of	ADP
ftr-309	805	31	blackstone	blackstone	NOUN
ftr-309	805	32	group	group	PROPN
ftr-309	805	33	lp	lp	PROPN
ftr-309	805	34	's	's	PART
ftr-309	805	35	income	income	NOUN
ftr-309	805	36	if	if	SCONJ
ftr-309	805	37	it	it	PRON
ftr-309	805	38	were	be	AUX
ftr-309	805	39	treated	treat	VERB
ftr-309	805	40	as	as	ADP
ftr-309	805	41	a	a	DET
ftr-309	805	42	corporation	corporation	NOUN
ftr-309	805	43	for	for	ADP
ftr-309	805	44	tax	tax	NOUN
ftr-309	805	45	purposes	purpose	NOUN
ftr-309	805	46	.	.	PUNCT
ftr-309	806	1	iv	iv	X
ftr-309	806	2	.	.	PUNCT
ftr-309	807	1	congressional	congressional	ADJ
ftr-309	807	2	response	response	NOUN
ftr-309	807	3	following	follow	VERB
ftr-309	807	4	the	the	DET
ftr-309	807	5	announcement	announcement	NOUN
ftr-309	807	6	of	of	ADP
ftr-309	807	7	the	the	DET
ftr-309	807	8	initial	initial	ADJ
ftr-309	807	9	public	public	ADJ
ftr-309	807	10	offering	offering	NOUN
ftr-309	807	11	of	of	ADP
ftr-309	807	12	blackstone	blackstone	PROPN
ftr-309	807	13	group	group	PROPN
ftr-309	807	14	lp	lp	PROPN
ftr-309	807	15	,	,	PUNCT
ftr-309	807	16	senators	senator	NOUN
ftr-309	807	17	max	max	PROPN
ftr-309	807	18	baucus	baucus	PROPN
ftr-309	807	19	and	and	CCONJ
ftr-309	807	20	charles	charles	PROPN
ftr-309	807	21	grassley	grassley	PROPN
ftr-309	807	22	proposed	propose	VERB
ftr-309	807	23	legislation	legislation	NOUN
ftr-309	807	24	that	that	PRON
ftr-309	807	25	would	would	AUX
ftr-309	807	26	have	have	AUX
ftr-309	807	27	made	make	VERB
ftr-309	807	28	blackstone	blackstone	NOUN
ftr-309	807	29	group	group	NOUN
ftr-309	807	30	lp	lp	PROPN
ftr-309	807	31	's	's	PART
ftr-309	807	32	structure	structure	NOUN
ftr-309	807	33	ineffective	ineffective	ADJ
ftr-309	807	34	.	.	PUNCT
ftr-309	808	1	30	30	NUM
ftr-309	808	2	in	in	ADP
ftr-309	808	3	particular	particular	ADJ
ftr-309	808	4	,	,	PUNCT
ftr-309	808	5	under	under	ADP
ftr-309	808	6	this	this	DET
ftr-309	808	7	legislation	legislation	NOUN
ftr-309	808	8	,	,	PUNCT
ftr-309	808	9	the	the	DET
ftr-309	808	10	exception	exception	NOUN
ftr-309	808	11	from	from	ADP
ftr-309	808	12	corporate	corporate	ADJ
ftr-309	808	13	tax	tax	NOUN
ftr-309	808	14	treatment	treatment	NOUN
ftr-309	808	15	for	for	ADP
ftr-309	808	16	publicly	publicly	ADV
ftr-309	808	17	traded	trade	VERB
ftr-309	808	18	partnerships	partnership	NOUN
ftr-309	808	19	that	that	PRON
ftr-309	808	20	earn	earn	VERB
ftr-309	808	21	predominately	predominately	ADV
ftr-309	808	22	passive	passive	ADJ
ftr-309	808	23	income	income	NOUN
ftr-309	808	24	would	would	AUX
ftr-309	808	25	not	not	PART
ftr-309	808	26	apply	apply	VERB
ftr-309	808	27	to	to	ADP
ftr-309	808	28	blackstone	blackstone	NOUN
ftr-309	808	29	group	group	NOUN
ftr-309	808	30	lp	lp	PROPN
ftr-309	808	31	and	and	CCONJ
ftr-309	808	32	similar	similar	ADJ
ftr-309	808	33	entities	entity	NOUN
ftr-309	808	34	because	because	SCONJ
ftr-309	808	35	the	the	DET
ftr-309	808	36	exception	exception	NOUN
ftr-309	808	37	effectively	effectively	ADV
ftr-309	808	38	would	would	AUX
ftr-309	808	39	not	not	PART
ftr-309	808	40	apply	apply	VERB
ftr-309	808	41	to	to	ADP
ftr-309	808	42	any	any	DET
ftr-309	808	43	partnership	partnership	NOUN
ftr-309	808	44	that	that	PRON
ftr-309	808	45	earned	earn	VERB
ftr-309	808	46	carried	carry	VERB
ftr-309	808	47	interest	interest	NOUN
ftr-309	808	48	income	income	NOUN
ftr-309	808	49	,	,	PUNCT
ftr-309	808	50	management	management	NOUN
ftr-309	808	51	fees	fee	NOUN
ftr-309	808	52	,	,	PUNCT
ftr-309	808	53	or	or	CCONJ
ftr-309	808	54	similar	similar	ADJ
ftr-309	808	55	income	income	NOUN
ftr-309	808	56	,	,	PUNCT
ftr-309	808	57	directly	directly	ADV
ftr-309	808	58	or	or	CCONJ
ftr-309	808	59	indirectly	indirectly	ADV
ftr-309	808	60	.	.	PUNCT
ftr-309	809	1	13	13	NUM
ftr-309	809	2	'	'	PUNCT
ftr-309	809	3	the	the	DET
ftr-309	809	4	legislation	legislation	NOUN
ftr-309	809	5	would	would	AUX
ftr-309	809	6	not	not	PART
ftr-309	809	7	have	have	AUX
ftr-309	809	8	immediately	immediately	ADV
ftr-309	809	9	applied	apply	VERB
ftr-309	809	10	to	to	ADP
ftr-309	809	11	blackstone	blackstone	NOUN
ftr-309	809	12	group	group	NOUN
ftr-309	809	13	as	as	SCONJ
ftr-309	809	14	it	it	PRON
ftr-309	809	15	contained	contain	VERB
ftr-309	809	16	a	a	DET
ftr-309	809	17	grandfathering	grandfathering	NOUN
ftr-309	809	18	provision.132	provision.132	NOUN
ftr-309	809	19	specifically	specifically	ADV
ftr-309	809	20	,	,	PUNCT
ftr-309	809	21	the	the	DET
ftr-309	809	22	new	new	ADJ
ftr-309	809	23	legislation	legislation	NOUN
ftr-309	809	24	would	would	AUX
ftr-309	809	25	not	not	PART
ftr-309	809	26	have	have	AUX
ftr-309	809	27	applied	apply	VERB
ftr-309	809	28	for	for	ADP
ftr-309	809	29	five	five	NUM
ftr-309	809	30	years	year	NOUN
ftr-309	809	31	to	to	ADP
ftr-309	809	32	any	any	DET
ftr-309	809	33	partnership	partnership	NOUN
ftr-309	809	34	that	that	SCONJ
ftr-309	809	35	,	,	PUNCT
ftr-309	809	36	as	as	ADP
ftr-309	809	37	of	of	ADP
ftr-309	809	38	june	june	PROPN
ftr-309	809	39	14	14	NUM
ftr-309	809	40	,	,	PUNCT
ftr-309	809	41	2007	2007	NUM
ftr-309	809	42	,	,	PUNCT
ftr-309	809	43	was	be	AUX
ftr-309	809	44	already	already	ADV
ftr-309	809	45	publicly	publicly	ADV
ftr-309	809	46	traded	trade	VERB
ftr-309	809	47	or	or	CCONJ
ftr-309	809	48	had	have	VERB
ftr-309	809	49	129	129	NUM
ftr-309	809	50	.	.	PUNCT
ftr-309	810	1	see	see	VERB
ftr-309	810	2	supra	supra	PROPN
ftr-309	810	3	part	part	PROPN
ftr-309	810	4	iii.a	iii.a	PROPN
ftr-309	810	5	.	.	PROPN
ftr-309	810	6	130	130	NUM
ftr-309	810	7	.	.	PUNCT
ftr-309	811	1	s.	s.	PROPN
ftr-309	811	2	1624	1624	NUM
ftr-309	811	3	,	,	PUNCT
ftr-309	811	4	1	1	NUM
ftr-309	811	5	10th	10th	ADJ
ftr-309	811	6	cong	cong	NOUN
ftr-309	811	7	.	.	PUNCT
ftr-309	812	1	(	(	PUNCT
ftr-309	812	2	2007	2007	NUM
ftr-309	812	3	)	)	PUNCT
ftr-309	812	4	.	.	PUNCT
ftr-309	813	1	for	for	ADP
ftr-309	813	2	further	further	ADJ
ftr-309	813	3	discussion	discussion	NOUN
ftr-309	813	4	of	of	ADP
ftr-309	813	5	the	the	DET
ftr-309	813	6	legislation	legislation	NOUN
ftr-309	813	7	,	,	PUNCT
ftr-309	813	8	see	see	VERB
ftr-309	813	9	fleischer	fleischer	NOUN
ftr-309	813	10	,	,	PUNCT
ftr-309	813	11	taxing	tax	VERB
ftr-309	813	12	blackstone	blackstone	NOUN
ftr-309	813	13	,	,	PUNCT
ftr-309	813	14	supra	supra	PROPN
ftr-309	813	15	note	note	PROPN
ftr-309	813	16	1	1	NUM
ftr-309	813	17	,	,	PUNCT
ftr-309	813	18	at	at	ADP
ftr-309	813	19	104	104	NUM
ftr-309	813	20	-	-	SYM
ftr-309	813	21	20	20	NUM
ftr-309	813	22	.	.	PUNCT
ftr-309	814	1	131	131	NUM
ftr-309	814	2	.	.	PUNCT
ftr-309	815	1	s.	s.	PROPN
ftr-309	815	2	1624	1624	NUM
ftr-309	815	3	,	,	PUNCT
ftr-309	815	4	110th	110th	ADJ
ftr-309	815	5	cong	cong	NOUN
ftr-309	815	6	.	.	PUNCT
ftr-309	816	1	(	(	PUNCT
ftr-309	816	2	2007	2007	NUM
ftr-309	816	3	)	)	PUNCT
ftr-309	816	4	.	.	PUNCT
ftr-309	817	1	for	for	ADP
ftr-309	817	2	further	further	ADJ
ftr-309	817	3	discussion	discussion	NOUN
ftr-309	817	4	of	of	ADP
ftr-309	817	5	the	the	DET
ftr-309	817	6	legislation	legislation	NOUN
ftr-309	817	7	,	,	PUNCT
ftr-309	817	8	see	see	VERB
ftr-309	817	9	fleischer	fleischer	NOUN
ftr-309	817	10	,	,	PUNCT
ftr-309	817	11	taxing	tax	VERB
ftr-309	817	12	blackstone	blackstone	NOUN
ftr-309	817	13	,	,	PUNCT
ftr-309	817	14	supra	supra	PROPN
ftr-309	817	15	note	note	PROPN
ftr-309	817	16	1	1	NUM
ftr-309	817	17	,	,	PUNCT
ftr-309	817	18	at	at	ADP
ftr-309	817	19	104	104	NUM
ftr-309	817	20	-	-	SYM
ftr-309	817	21	20	20	NUM
ftr-309	817	22	.	.	PUNCT
ftr-309	817	23	132	132	NUM
ftr-309	817	24	.	.	PUNCT
ftr-309	818	1	s.	s.	PROPN
ftr-309	818	2	1624	1624	NUM
ftr-309	818	3	,	,	PUNCT
ftr-309	818	4	110th	110th	ADJ
ftr-309	818	5	cong	cong	NOUN
ftr-309	818	6	.	.	PUNCT
ftr-309	819	1	(	(	PUNCT
ftr-309	819	2	2007	2007	NUM
ftr-309	819	3	)	)	PUNCT
ftr-309	819	4	.	.	PUNCT
ftr-309	820	1	for	for	ADP
ftr-309	820	2	further	further	ADJ
ftr-309	820	3	discussion	discussion	NOUN
ftr-309	820	4	of	of	ADP
ftr-309	820	5	the	the	DET
ftr-309	820	6	legislation	legislation	NOUN
ftr-309	820	7	,	,	PUNCT
ftr-309	820	8	see	see	VERB
ftr-309	820	9	fleischer	fleischer	NOUN
ftr-309	820	10	,	,	PUNCT
ftr-309	820	11	taxing	tax	VERB
ftr-309	820	12	blackstone	blackstone	NOUN
ftr-309	820	13	,	,	PUNCT
ftr-309	820	14	supra	supra	PROPN
ftr-309	820	15	note	note	PROPN
ftr-309	820	16	1	1	NUM
ftr-309	820	17	,	,	PUNCT
ftr-309	820	18	at	at	ADP
ftr-309	820	19	104	104	NUM
ftr-309	820	20	-	-	SYM
ftr-309	820	21	20	20	NUM
ftr-309	820	22	.	.	PUNCT
ftr-309	821	1	188	188	NUM
ftr-309	821	2	[	[	NOUN
ftr-309	821	3	vol	vol	NOUN
ftr-309	821	4	.	.	PUNCT
ftr-309	821	5	14:5	14:5	NUM
ftr-309	821	6	2013	2013	NUM
ftr-309	821	7	]	]	PUNCT
ftr-309	821	8	was	be	AUX
ftr-309	821	9	blackstone	blackstone	NOUN
ftr-309	821	10	's	's	PART
ftr-309	821	11	initial	initial	ADJ
ftr-309	821	12	public	public	ADJ
ftr-309	821	13	offering	offering	NOUN
ftr-309	821	14	too	too	ADV
ftr-309	821	15	good	good	ADJ
ftr-309	821	16	to	to	PART
ftr-309	821	17	be	be	AUX
ftr-309	821	18	true	true	ADJ
ftr-309	821	19	?	?	PUNCT
ftr-309	822	1	already	already	ADV
ftr-309	822	2	filed	file	VERB
ftr-309	822	3	a	a	DET
ftr-309	822	4	registration	registration	NOUN
ftr-309	822	5	statement	statement	NOUN
ftr-309	822	6	with	with	ADP
ftr-309	822	7	the	the	DET
ftr-309	822	8	sec	sec	PROPN
ftr-309	822	9	in	in	ADP
ftr-309	822	10	contemplation	contemplation	NOUN
ftr-309	822	11	of	of	ADP
ftr-309	822	12	an	an	DET
ftr-309	822	13	initial	initial	ADJ
ftr-309	822	14	public	public	ADJ
ftr-309	822	15	offering	offering	NOUN
ftr-309	822	16	.	.	PUNCT
ftr-309	822	17	'3	'3	PART
ftr-309	822	18	3	3	NUM
ftr-309	822	19	in	in	ADP
ftr-309	822	20	addition	addition	NOUN
ftr-309	822	21	to	to	ADP
ftr-309	822	22	the	the	DET
ftr-309	822	23	proposal	proposal	NOUN
ftr-309	822	24	described	describe	VERB
ftr-309	822	25	above	above	ADV
ftr-309	822	26	,	,	PUNCT
ftr-309	822	27	proposals	proposal	NOUN
ftr-309	822	28	less	less	ADV
ftr-309	822	29	squarely	squarely	ADV
ftr-309	822	30	directed	direct	VERB
ftr-309	822	31	at	at	ADP
ftr-309	822	32	the	the	DET
ftr-309	822	33	blackstone	blackstone	NOUN
ftr-309	822	34	group	group	NOUN
ftr-309	822	35	structure	structure	NOUN
ftr-309	822	36	would	would	AUX
ftr-309	822	37	,	,	PUNCT
ftr-309	822	38	if	if	SCONJ
ftr-309	822	39	enacted	enact	VERB
ftr-309	822	40	,	,	PUNCT
ftr-309	822	41	make	make	VERB
ftr-309	822	42	the	the	DET
ftr-309	822	43	structure	structure	NOUN
ftr-309	822	44	less	less	ADV
ftr-309	822	45	effective	effective	ADJ
ftr-309	822	46	.	.	PUNCT
ftr-309	823	1	for	for	ADP
ftr-309	823	2	example	example	NOUN
ftr-309	823	3	,	,	PUNCT
ftr-309	823	4	in	in	ADP
ftr-309	823	5	2009	2009	NUM
ftr-309	823	6	,	,	PUNCT
ftr-309	823	7	congressman	congressman	PROPN
ftr-309	823	8	levin	levin	PROPN
ftr-309	823	9	introduced	introduce	VERB
ftr-309	823	10	legislation	legislation	NOUN
ftr-309	823	11	that	that	PRON
ftr-309	823	12	,	,	PUNCT
ftr-309	823	13	among	among	ADP
ftr-309	823	14	other	other	ADJ
ftr-309	823	15	things	thing	NOUN
ftr-309	823	16	,	,	PUNCT
ftr-309	823	17	would	would	AUX
ftr-309	823	18	have	have	AUX
ftr-309	823	19	treated	treat	VERB
ftr-309	823	20	all	all	PRON
ftr-309	823	21	carried	carry	VERB
ftr-309	823	22	interest	interest	NOUN
ftr-309	823	23	income	income	NOUN
ftr-309	823	24	as	as	ADP
ftr-309	823	25	non	non	ADJ
ftr-309	823	26	-	-	ADJ
ftr-309	823	27	qualifying	qualifying	ADJ
ftr-309	823	28	income	income	NOUN
ftr-309	823	29	for	for	ADP
ftr-309	823	30	purposes	purpose	NOUN
ftr-309	823	31	of	of	ADP
ftr-309	823	32	the	the	DET
ftr-309	823	33	publicly	publicly	ADV
ftr-309	823	34	traded	trade	VERB
ftr-309	823	35	partnership	partnership	NOUN
ftr-309	823	36	rules	rule	NOUN
ftr-309	823	37	.	.	PUNCT
ftr-309	824	1	'34	'34	NUM
ftr-309	824	2	the	the	DET
ftr-309	824	3	blackstone	blackstone	NOUN
ftr-309	824	4	group	group	NOUN
ftr-309	824	5	structure	structure	NOUN
ftr-309	824	6	is	be	AUX
ftr-309	824	7	potent	potent	ADJ
ftr-309	824	8	largely	largely	ADV
ftr-309	824	9	because	because	SCONJ
ftr-309	824	10	qualified	qualified	ADJ
ftr-309	824	11	carried	carry	VERB
ftr-309	824	12	interest	interest	NOUN
ftr-309	824	13	income	income	NOUN
ftr-309	824	14	allocated	allocate	VERB
ftr-309	824	15	directly	directly	ADV
ftr-309	824	16	to	to	ADP
ftr-309	824	17	blackstone	blackstone	PROPN
ftr-309	824	18	group	group	PROPN
ftr-309	824	19	lp	lp	PROPN
ftr-309	824	20	is	be	AUX
ftr-309	824	21	not	not	PART
ftr-309	824	22	subject	subject	ADJ
ftr-309	824	23	to	to	ADP
ftr-309	824	24	corporate	corporate	ADJ
ftr-309	824	25	-	-	PUNCT
ftr-309	824	26	level	level	NOUN
ftr-309	824	27	tax	tax	NOUN
ftr-309	824	28	.	.	PUNCT
ftr-309	825	1	if	if	SCONJ
ftr-309	825	2	all	all	PRON
ftr-309	825	3	carried	carry	VERB
ftr-309	825	4	interest	interest	NOUN
ftr-309	825	5	income	income	NOUN
ftr-309	825	6	were	be	AUX
ftr-309	825	7	non	non	ADJ
ftr-309	825	8	-	-	ADJ
ftr-309	825	9	qualifying	qualifying	ADJ
ftr-309	825	10	income	income	NOUN
ftr-309	825	11	,	,	PUNCT
ftr-309	825	12	the	the	DET
ftr-309	825	13	underlying	underlie	VERB
ftr-309	825	14	partnership	partnership	NOUN
ftr-309	825	15	would	would	AUX
ftr-309	825	16	not	not	PART
ftr-309	825	17	earn	earn	VERB
ftr-309	825	18	any	any	DET
ftr-309	825	19	qualifying	qualifying	NOUN
ftr-309	825	20	income	income	NOUN
ftr-309	825	21	that	that	SCONJ
ftr-309	825	22	it	it	PRON
ftr-309	825	23	could	could	AUX
ftr-309	825	24	allocate	allocate	VERB
ftr-309	825	25	directly	directly	ADV
ftr-309	825	26	to	to	ADP
ftr-309	825	27	blackstone	blackstone	PROPN
ftr-309	825	28	group	group	PROPN
ftr-309	825	29	lp	lp	PROPN
ftr-309	825	30	.	.	PUNCT
ftr-309	826	1	as	as	ADP
ftr-309	826	2	a	a	DET
ftr-309	826	3	consequence	consequence	NOUN
ftr-309	826	4	,	,	PUNCT
ftr-309	826	5	either	either	CCONJ
ftr-309	826	6	blackstone	blackstone	NOUN
ftr-309	826	7	group	group	NOUN
ftr-309	826	8	lp	lp	PROPN
ftr-309	826	9	would	would	AUX
ftr-309	826	10	have	have	VERB
ftr-309	826	11	to	to	PART
ftr-309	826	12	abandon	abandon	VERB
ftr-309	826	13	its	its	PRON
ftr-309	826	14	current	current	ADJ
ftr-309	826	15	structure	structure	NOUN
ftr-309	826	16	and	and	CCONJ
ftr-309	826	17	resign	resign	VERB
ftr-309	826	18	itself	itself	PRON
ftr-309	826	19	to	to	ADP
ftr-309	826	20	being	be	AUX
ftr-309	826	21	treated	treat	VERB
ftr-309	826	22	as	as	ADP
ftr-309	826	23	a	a	DET
ftr-309	826	24	corporation	corporation	NOUN
ftr-309	826	25	for	for	ADP
ftr-309	826	26	tax	tax	NOUN
ftr-309	826	27	purposes	purpose	NOUN
ftr-309	826	28	or	or	CCONJ
ftr-309	826	29	the	the	DET
ftr-309	826	30	underlying	underlie	VERB
ftr-309	826	31	partnership	partnership	NOUN
ftr-309	826	32	would	would	AUX
ftr-309	826	33	have	have	VERB
ftr-309	826	34	to	to	PART
ftr-309	826	35	modify	modify	VERB
ftr-309	826	36	its	its	PRON
ftr-309	826	37	allocations	allocation	NOUN
ftr-309	826	38	so	so	SCONJ
ftr-309	826	39	that	that	SCONJ
ftr-309	826	40	almost	almost	ADV
ftr-309	826	41	all	all	PRON
ftr-309	826	42	of	of	ADP
ftr-309	826	43	its	its	PRON
ftr-309	826	44	income	income	NOUN
ftr-309	826	45	was	be	AUX
ftr-309	826	46	allocated	allocate	VERB
ftr-309	826	47	to	to	ADP
ftr-309	826	48	either	either	CCONJ
ftr-309	826	49	u.s	u.s	PROPN
ftr-309	826	50	.	.	PROPN
ftr-309	826	51	subsidiary	subsidiary	NOUN
ftr-309	826	52	or	or	CCONJ
ftr-309	826	53	non	non	ADJ
ftr-309	826	54	-	-	ADJ
ftr-309	826	55	u.s	u.s	PROPN
ftr-309	826	56	.	.	PROPN
ftr-309	826	57	subsidiary.135	subsidiary.135	PROPN
ftr-309	826	58	the	the	DET
ftr-309	826	59	income	income	NOUN
ftr-309	826	60	allocated	allocate	VERB
ftr-309	826	61	to	to	ADP
ftr-309	826	62	u.s	u.s	PROPN
ftr-309	826	63	.	.	PROPN
ftr-309	826	64	subsidiary	subsidiary	NOUN
ftr-309	826	65	would	would	AUX
ftr-309	826	66	be	be	AUX
ftr-309	826	67	subject	subject	ADJ
ftr-309	826	68	to	to	ADP
ftr-309	826	69	corporate	corporate	ADJ
ftr-309	826	70	-	-	PUNCT
ftr-309	826	71	level	level	NOUN
ftr-309	826	72	tax.136	tax.136	NOUN
ftr-309	826	73	none	none	NOUN
ftr-309	826	74	of	of	ADP
ftr-309	826	75	the	the	DET
ftr-309	826	76	proposed	propose	VERB
ftr-309	826	77	reforms	reform	NOUN
ftr-309	826	78	described	describe	VERB
ftr-309	826	79	above	above	ADP
ftr-309	826	80	address	address	VERB
ftr-309	826	81	the	the	DET
ftr-309	826	82	unintended	unintended	ADJ
ftr-309	826	83	loophole	loophole	NOUN
ftr-309	826	84	in	in	ADP
ftr-309	826	85	the	the	DET
ftr-309	826	86	partnership	partnership	NOUN
ftr-309	826	87	tax	tax	NOUN
ftr-309	826	88	allocation	allocation	NOUN
ftr-309	826	89	rules	rule	NOUN
ftr-309	826	90	specifically	specifically	ADV
ftr-309	826	91	,	,	PUNCT
ftr-309	826	92	the	the	DET
ftr-309	826	93	rules	rule	NOUN
ftr-309	826	94	'	'	PART
ftr-309	826	95	inability	inability	NOUN
ftr-309	826	96	to	to	PART
ftr-309	826	97	police	police	VERB
ftr-309	826	98	adequately	adequately	ADV
ftr-309	826	99	allocations	allocation	NOUN
ftr-309	826	100	among	among	ADP
ftr-309	826	101	related	related	ADJ
ftr-309	826	102	partners	partner	NOUN
ftr-309	826	103	.	.	PUNCT
ftr-309	827	1	moreover	moreover	ADV
ftr-309	827	2	,	,	PUNCT
ftr-309	827	3	none	none	NOUN
ftr-309	827	4	of	of	ADP
ftr-309	827	5	the	the	DET
ftr-309	827	6	proposed	propose	VERB
ftr-309	827	7	reforms	reform	NOUN
ftr-309	827	8	have	have	AUX
ftr-309	827	9	been	be	AUX
ftr-309	827	10	enacted	enact	VERB
ftr-309	827	11	.	.	PUNCT
ftr-309	828	1	however	however	ADV
ftr-309	828	2	,	,	PUNCT
ftr-309	828	3	recent	recent	ADJ
ftr-309	828	4	publicity	publicity	NOUN
ftr-309	828	5	regarding	regard	VERB
ftr-309	828	6	bain	bain	PROPN
ftr-309	828	7	capital	capital	PROPN
ftr-309	828	8	has	have	AUX
ftr-309	828	9	once	once	ADV
ftr-309	828	10	again	again	ADV
ftr-309	828	11	focused	focus	VERB
ftr-309	828	12	public	public	ADJ
ftr-309	828	13	attention	attention	NOUN
ftr-309	828	14	on	on	ADP
ftr-309	828	15	the	the	DET
ftr-309	828	16	private	private	ADJ
ftr-309	828	17	equity	equity	NOUN
ftr-309	828	18	industry	industry	NOUN
ftr-309	828	19	.	.	PUNCT
ftr-309	828	20	'3	'3	X
ftr-309	828	21	7	7	NUM
ftr-309	828	22	thus	thus	ADV
ftr-309	828	23	,	,	PUNCT
ftr-309	828	24	it	it	PRON
ftr-309	828	25	is	be	AUX
ftr-309	828	26	possible	possible	ADJ
ftr-309	828	27	that	that	SCONJ
ftr-309	828	28	lawmakers	lawmaker	NOUN
ftr-309	828	29	will	will	AUX
ftr-309	828	30	revisit	revisit	VERB
ftr-309	828	31	these	these	DET
ftr-309	828	32	reforms	reform	NOUN
ftr-309	828	33	or	or	CCONJ
ftr-309	828	34	that	that	SCONJ
ftr-309	828	35	the	the	DET
ftr-309	828	36	irs	irs	PROPN
ftr-309	828	37	will	will	AUX
ftr-309	828	38	consider	consider	VERB
ftr-309	828	39	other	other	ADJ
ftr-309	828	40	ways	way	NOUN
ftr-309	828	41	of	of	ADP
ftr-309	828	42	challenging	challenge	VERB
ftr-309	828	43	the	the	DET
ftr-309	828	44	results	result	NOUN
ftr-309	828	45	claimed	claim	VERB
ftr-309	828	46	by	by	ADP
ftr-309	828	47	blackstone	blackstone	PROPN
ftr-309	828	48	group	group	PROPN
ftr-309	828	49	lp	lp	PROPN
ftr-309	828	50	.	.	PUNCT
ftr-309	829	1	this	this	DET
ftr-309	829	2	article	article	NOUN
ftr-309	829	3	proposes	propose	VERB
ftr-309	829	4	a	a	DET
ftr-309	829	5	way	way	NOUN
ftr-309	829	6	for	for	SCONJ
ftr-309	829	7	the	the	DET
ftr-309	829	8	irs	irs	PROPN
ftr-309	829	9	to	to	PART
ftr-309	829	10	do	do	VERB
ftr-309	829	11	precisely	precisely	ADV
ftr-309	829	12	that	that	PRON
ftr-309	829	13	.	.	PUNCT
ftr-309	830	1	133	133	NUM
ftr-309	830	2	.	.	PUNCT
ftr-309	831	1	s.	s.	PROPN
ftr-309	831	2	1624	1624	NUM
ftr-309	831	3	,	,	PUNCT
ftr-309	831	4	110th	110th	ADJ
ftr-309	831	5	cong	cong	NOUN
ftr-309	831	6	.	.	PUNCT
ftr-309	832	1	(	(	PUNCT
ftr-309	832	2	2007	2007	NUM
ftr-309	832	3	)	)	PUNCT
ftr-309	832	4	.	.	PUNCT
ftr-309	833	1	for	for	ADP
ftr-309	833	2	further	further	ADJ
ftr-309	833	3	discussion	discussion	NOUN
ftr-309	833	4	of	of	ADP
ftr-309	833	5	the	the	DET
ftr-309	833	6	legislation	legislation	NOUN
ftr-309	833	7	,	,	PUNCT
ftr-309	833	8	see	see	VERB
ftr-309	833	9	fleischer	fleischer	NOUN
ftr-309	833	10	,	,	PUNCT
ftr-309	833	11	taxing	tax	VERB
ftr-309	833	12	blackstone	blackstone	NOUN
ftr-309	833	13	,	,	PUNCT
ftr-309	833	14	supra	supra	PROPN
ftr-309	833	15	note	note	PROPN
ftr-309	833	16	1	1	NUM
ftr-309	833	17	,	,	PUNCT
ftr-309	833	18	at	at	ADP
ftr-309	833	19	104	104	NUM
ftr-309	833	20	-	-	SYM
ftr-309	833	21	20	20	NUM
ftr-309	833	22	.	.	PUNCT
ftr-309	833	23	134	134	NUM
ftr-309	833	24	.	.	PUNCT
ftr-309	834	1	h.r	h.r	PROPN
ftr-309	834	2	.	.	PROPN
ftr-309	834	3	1935	1935	NUM
ftr-309	834	4	,	,	PUNCT
ftr-309	834	5	111th	111th	ADJ
ftr-309	834	6	cong	cong	NOUN
ftr-309	834	7	.	.	PUNCT
ftr-309	835	1	(	(	PUNCT
ftr-309	835	2	2009	2009	NUM
ftr-309	835	3	)	)	PUNCT
ftr-309	835	4	.	.	PUNCT
ftr-309	836	1	there	there	PRON
ftr-309	836	2	are	be	VERB
ftr-309	836	3	many	many	ADJ
ftr-309	836	4	other	other	ADJ
ftr-309	836	5	ways	way	NOUN
ftr-309	836	6	in	in	ADP
ftr-309	836	7	which	which	PRON
ftr-309	836	8	existing	exist	VERB
ftr-309	836	9	law	law	NOUN
ftr-309	836	10	could	could	AUX
ftr-309	836	11	be	be	AUX
ftr-309	836	12	changed	change	VERB
ftr-309	836	13	to	to	PART
ftr-309	836	14	alter	alter	VERB
ftr-309	836	15	the	the	DET
ftr-309	836	16	results	result	NOUN
ftr-309	836	17	claimed	claim	VERB
ftr-309	836	18	by	by	ADP
ftr-309	836	19	blackstone	blackstone	PROPN
ftr-309	836	20	group	group	PROPN
ftr-309	836	21	lp	lp	PROPN
ftr-309	836	22	.	.	PUNCT
ftr-309	837	1	rather	rather	ADV
ftr-309	837	2	than	than	SCONJ
ftr-309	837	3	focus	focus	VERB
ftr-309	837	4	on	on	ADP
ftr-309	837	5	potential	potential	ADJ
ftr-309	837	6	legislative	legislative	ADJ
ftr-309	837	7	or	or	CCONJ
ftr-309	837	8	regulatory	regulatory	ADJ
ftr-309	837	9	changes	change	NOUN
ftr-309	837	10	,	,	PUNCT
ftr-309	837	11	however	however	ADV
ftr-309	837	12	,	,	PUNCT
ftr-309	837	13	this	this	DET
ftr-309	837	14	article	article	NOUN
ftr-309	837	15	considers	consider	VERB
ftr-309	837	16	a	a	DET
ftr-309	837	17	way	way	NOUN
ftr-309	837	18	in	in	ADP
ftr-309	837	19	which	which	PRON
ftr-309	837	20	the	the	DET
ftr-309	837	21	results	result	NOUN
ftr-309	837	22	claimed	claim	VERB
ftr-309	837	23	by	by	ADP
ftr-309	837	24	blackstone	blackstone	NOUN
ftr-309	837	25	group	group	NOUN
ftr-309	837	26	could	could	AUX
ftr-309	837	27	be	be	AUX
ftr-309	837	28	challenged	challenge	VERB
ftr-309	837	29	under	under	ADP
ftr-309	837	30	current	current	ADJ
ftr-309	837	31	law	law	NOUN
ftr-309	837	32	.	.	PUNCT
ftr-309	838	1	135	135	NUM
ftr-309	838	2	.	.	PUNCT
ftr-309	839	1	the	the	DET
ftr-309	839	2	text	text	NOUN
ftr-309	839	3	refers	refer	VERB
ftr-309	839	4	to	to	ADP
ftr-309	839	5	"	"	PUNCT
ftr-309	839	6	almost	almost	ADV
ftr-309	839	7	all	all	PRON
ftr-309	839	8	"	"	PUNCT
ftr-309	839	9	income	income	NOUN
ftr-309	839	10	rather	rather	ADV
ftr-309	839	11	than	than	ADP
ftr-309	839	12	"	"	PUNCT
ftr-309	839	13	all	all	DET
ftr-309	839	14	"	"	PUNCT
ftr-309	839	15	income	income	NOUN
ftr-309	839	16	because	because	SCONJ
ftr-309	839	17	blackstone	blackstone	NOUN
ftr-309	839	18	group	group	NOUN
ftr-309	839	19	lp	lp	PROPN
ftr-309	839	20	could	could	AUX
ftr-309	839	21	earn	earn	VERB
ftr-309	839	22	up	up	ADP
ftr-309	839	23	to	to	PART
ftr-309	839	24	10	10	NUM
ftr-309	839	25	percent	percent	NOUN
ftr-309	839	26	non	non	ADJ
ftr-309	839	27	-	-	ADJ
ftr-309	839	28	qualifying	qualifying	ADJ
ftr-309	839	29	income	income	NOUN
ftr-309	839	30	and	and	CCONJ
ftr-309	839	31	still	still	ADV
ftr-309	839	32	comply	comply	VERB
ftr-309	839	33	with	with	ADP
ftr-309	839	34	the	the	DET
ftr-309	839	35	90	90	NUM
ftr-309	839	36	percent	percent	NOUN
ftr-309	839	37	gross	gross	ADJ
ftr-309	839	38	income	income	NOUN
ftr-309	839	39	exception	exception	NOUN
ftr-309	839	40	.	.	PUNCT
ftr-309	840	1	136	136	NUM
ftr-309	840	2	.	.	PUNCT
ftr-309	841	1	this	this	DET
ftr-309	841	2	structure	structure	NOUN
ftr-309	841	3	still	still	ADV
ftr-309	841	4	has	have	VERB
ftr-309	841	5	some	some	DET
ftr-309	841	6	benefits	benefit	NOUN
ftr-309	841	7	because	because	SCONJ
ftr-309	841	8	of	of	ADP
ftr-309	841	9	the	the	DET
ftr-309	841	10	potential	potential	ADJ
ftr-309	841	11	use	use	NOUN
ftr-309	841	12	of	of	ADP
ftr-309	841	13	interest	interest	NOUN
ftr-309	841	14	expense	expense	NOUN
ftr-309	841	15	to	to	PART
ftr-309	841	16	reduce	reduce	VERB
ftr-309	841	17	u.s	u.s	PROPN
ftr-309	841	18	.	.	PROPN
ftr-309	841	19	subsidiary	subsidiary	NOUN
ftr-309	841	20	's	's	PART
ftr-309	841	21	tax	tax	NOUN
ftr-309	841	22	liability	liability	NOUN
ftr-309	841	23	and	and	CCONJ
ftr-309	841	24	because	because	SCONJ
ftr-309	841	25	non	non	ADJ
ftr-309	841	26	-	-	ADJ
ftr-309	841	27	u.s	u.s	PROPN
ftr-309	841	28	.	.	PROPN
ftr-309	841	29	subsidiary	subsidiary	NOUN
ftr-309	841	30	is	be	AUX
ftr-309	841	31	not	not	PART
ftr-309	841	32	subject	subject	ADJ
ftr-309	841	33	to	to	ADP
ftr-309	841	34	tax	tax	NOUN
ftr-309	841	35	.	.	PUNCT
ftr-309	842	1	see	see	VERB
ftr-309	842	2	supra	supra	PROPN
ftr-309	842	3	parts	part	NOUN
ftr-309	842	4	ii.c	ii.c	VERB
ftr-309	842	5	and	and	CCONJ
ftr-309	842	6	ii.d	ii.d	PRON
ftr-309	842	7	;	;	PUNCT
ftr-309	842	8	see	see	VERB
ftr-309	842	9	,	,	PUNCT
ftr-309	842	10	also	also	ADV
ftr-309	842	11	,	,	PUNCT
ftr-309	842	12	fleischer	fleischer	PROPN
ftr-309	842	13	,	,	PUNCT
ftr-309	842	14	taxing	tax	VERB
ftr-309	842	15	blackstone	blackstone	NOUN
ftr-309	842	16	,	,	PUNCT
ftr-309	842	17	supra	supra	PROPN
ftr-309	842	18	note	note	PROPN
ftr-309	842	19	1	1	NUM
ftr-309	842	20	,	,	PUNCT
ftr-309	842	21	at	at	ADP
ftr-309	842	22	105	105	NUM
ftr-309	842	23	.	.	PUNCT
ftr-309	842	24	137	137	NUM
ftr-309	842	25	.	.	PUNCT
ftr-309	843	1	see	see	VERB
ftr-309	843	2	supra	supra	PROPN
ftr-309	843	3	notes	note	VERB
ftr-309	843	4	14	14	NUM
ftr-309	843	5	-	-	SYM
ftr-309	843	6	15	15	NUM
ftr-309	843	7	and	and	CCONJ
ftr-309	843	8	accompanying	accompany	VERB
ftr-309	843	9	text	text	NOUN
ftr-309	843	10	.	.	PUNCT
ftr-309	844	1	189	189	NUM
ftr-309	844	2	florida	florida	PROPN
ftr-309	844	3	tax	tax	NOUN
ftr-309	844	4	review	review	NOUN
ftr-309	844	5	v.	v.	ADP
ftr-309	844	6	proposal	proposal	NOUN
ftr-309	844	7	:	:	PUNCT
ftr-309	844	8	using	use	VERB
ftr-309	844	9	existing	exist	VERB
ftr-309	844	10	standards	standard	NOUN
ftr-309	844	11	to	to	PART
ftr-309	844	12	close	close	VERB
ftr-309	844	13	the	the	DET
ftr-309	844	14	unintended	unintended	ADJ
ftr-309	844	15	loophole	loophole	NOUN
ftr-309	844	16	in	in	ADP
ftr-309	844	17	the	the	DET
ftr-309	844	18	partnership	partnership	NOUN
ftr-309	844	19	tax	tax	NOUN
ftr-309	844	20	allocation	allocation	NOUN
ftr-309	844	21	rules	rule	NOUN
ftr-309	844	22	even	even	ADV
ftr-309	844	23	under	under	ADP
ftr-309	844	24	current	current	ADJ
ftr-309	844	25	law	law	NOUN
ftr-309	844	26	,	,	PUNCT
ftr-309	844	27	the	the	DET
ftr-309	844	28	irs	irs	PROPN
ftr-309	844	29	could	could	AUX
ftr-309	844	30	challenge	challenge	VERB
ftr-309	844	31	the	the	DET
ftr-309	844	32	results	result	NOUN
ftr-309	844	33	claimed	claim	VERB
ftr-309	844	34	by	by	ADP
ftr-309	844	35	blackstone	blackstone	PROPN
ftr-309	844	36	group	group	PROPN
ftr-309	844	37	lp	lp	PROPN
ftr-309	844	38	.	.	PUNCT
ftr-309	845	1	thus	thus	ADV
ftr-309	845	2	,	,	PUNCT
ftr-309	845	3	rather	rather	ADV
ftr-309	845	4	than	than	SCONJ
ftr-309	845	5	wait	wait	VERB
ftr-309	845	6	and	and	CCONJ
ftr-309	845	7	hope	hope	VERB
ftr-309	845	8	for	for	SCONJ
ftr-309	845	9	congress	congress	PROPN
ftr-309	845	10	to	to	PART
ftr-309	845	11	reconsider	reconsider	VERB
ftr-309	845	12	reforms	reform	NOUN
ftr-309	845	13	that	that	PRON
ftr-309	845	14	were	be	AUX
ftr-309	845	15	not	not	PART
ftr-309	845	16	enacted	enact	VERB
ftr-309	845	17	in	in	ADP
ftr-309	845	18	the	the	DET
ftr-309	845	19	past	past	NOUN
ftr-309	845	20	,	,	PUNCT
ftr-309	845	21	the	the	DET
ftr-309	845	22	irs	irs	PROPN
ftr-309	845	23	could	could	AUX
ftr-309	845	24	take	take	VERB
ftr-309	845	25	action	action	NOUN
ftr-309	845	26	now	now	ADV
ftr-309	845	27	.	.	PUNCT
ftr-309	846	1	in	in	ADP
ftr-309	846	2	particular	particular	ADJ
ftr-309	846	3	,	,	PUNCT
ftr-309	846	4	the	the	DET
ftr-309	846	5	irs	irs	PROPN
ftr-309	846	6	could	could	AUX
ftr-309	846	7	rely	rely	VERB
ftr-309	846	8	on	on	ADP
ftr-309	846	9	existing	exist	VERB
ftr-309	846	10	standards	standard	NOUN
ftr-309	846	11	to	to	PART
ftr-309	846	12	close	close	VERB
ftr-309	846	13	the	the	DET
ftr-309	846	14	unintended	unintended	ADJ
ftr-309	846	15	loophole	loophole	NOUN
ftr-309	846	16	in	in	ADP
ftr-309	846	17	the	the	DET
ftr-309	846	18	partnership	partnership	NOUN
ftr-309	846	19	tax	tax	NOUN
ftr-309	846	20	allocation	allocation	NOUN
ftr-309	846	21	rules	rule	VERB
ftr-309	846	22	that	that	PRON
ftr-309	846	23	blackstone	blackstone	NOUN
ftr-309	846	24	group	group	NOUN
ftr-309	846	25	lp	lp	PROPN
ftr-309	846	26	's	's	PART
ftr-309	846	27	structure	structure	NOUN
ftr-309	846	28	exploits	exploit	NOUN
ftr-309	846	29	.	.	PUNCT
ftr-309	847	1	as	as	SCONJ
ftr-309	847	2	discussed	discuss	VERB
ftr-309	847	3	above	above	ADV
ftr-309	847	4	in	in	ADP
ftr-309	847	5	part	part	NOUN
ftr-309	847	6	iii	iii	NOUN
ftr-309	847	7	,	,	PUNCT
ftr-309	847	8	the	the	DET
ftr-309	847	9	technical	technical	PROPN
ftr-309	847	10	partnership	partnership	NOUN
ftr-309	847	11	tax	tax	NOUN
ftr-309	847	12	allocation	allocation	NOUN
ftr-309	847	13	rules	rule	NOUN
ftr-309	847	14	are	be	AUX
ftr-309	847	15	incapable	incapable	ADJ
ftr-309	847	16	of	of	ADP
ftr-309	847	17	restricting	restrict	VERB
ftr-309	847	18	allocations	allocation	NOUN
ftr-309	847	19	among	among	ADP
ftr-309	847	20	related	related	ADJ
ftr-309	847	21	partners	partner	NOUN
ftr-309	847	22	,	,	PUNCT
ftr-309	847	23	resulting	result	VERB
ftr-309	847	24	in	in	ADP
ftr-309	847	25	this	this	DET
ftr-309	847	26	often	often	ADV
ftr-309	847	27	-	-	PUNCT
ftr-309	847	28	abused	abuse	VERB
ftr-309	847	29	loophole.138	loophole.138	NOUN
ftr-309	847	30	to	to	PART
ftr-309	847	31	address	address	VERB
ftr-309	847	32	this	this	DET
ftr-309	847	33	shortcoming	shortcoming	NOUN
ftr-309	847	34	of	of	ADP
ftr-309	847	35	the	the	DET
ftr-309	847	36	partnership	partnership	NOUN
ftr-309	847	37	tax	tax	NOUN
ftr-309	847	38	allocation	allocation	NOUN
ftr-309	847	39	rules	rule	NOUN
ftr-309	847	40	,	,	PUNCT
ftr-309	847	41	the	the	DET
ftr-309	847	42	irs	irs	PROPN
ftr-309	847	43	could	could	AUX
ftr-309	847	44	invoke	invoke	VERB
ftr-309	847	45	existing	existing	ADJ
ftr-309	847	46	standards	standard	NOUN
ftr-309	847	47	.	.	PUNCT
ftr-309	848	1	doing	do	VERB
ftr-309	848	2	so	so	ADV
ftr-309	848	3	would	would	AUX
ftr-309	848	4	not	not	PART
ftr-309	848	5	be	be	AUX
ftr-309	848	6	unprecedented	unprecedented	ADJ
ftr-309	848	7	because	because	SCONJ
ftr-309	848	8	it	it	PRON
ftr-309	848	9	is	be	AUX
ftr-309	848	10	not	not	PART
ftr-309	848	11	unusual	unusual	ADJ
ftr-309	848	12	for	for	SCONJ
ftr-309	848	13	tax	tax	NOUN
ftr-309	848	14	rules	rule	NOUN
ftr-309	848	15	to	to	PART
ftr-309	848	16	have	have	VERB
ftr-309	848	17	gaps	gap	NOUN
ftr-309	848	18	or	or	CCONJ
ftr-309	848	19	for	for	ADP
ftr-309	848	20	the	the	DET
ftr-309	848	21	irs	irs	PROPN
ftr-309	848	22	and	and	CCONJ
ftr-309	848	23	courts	court	NOUN
ftr-309	848	24	to	to	PART
ftr-309	848	25	rely	rely	VERB
ftr-309	848	26	on	on	ADP
ftr-309	848	27	standards	standard	NOUN
ftr-309	848	28	to	to	PART
ftr-309	848	29	fill	fill	VERB
ftr-309	848	30	gaps	gap	NOUN
ftr-309	848	31	.	.	PUNCT
ftr-309	849	1	as	as	SCONJ
ftr-309	849	2	others	other	NOUN
ftr-309	849	3	have	have	AUX
ftr-309	849	4	observed	observe	VERB
ftr-309	849	5	,	,	PUNCT
ftr-309	849	6	lawmakers	lawmaker	NOUN
ftr-309	849	7	design	design	VERB
ftr-309	849	8	rules	rule	NOUN
ftr-309	849	9	,	,	PUNCT
ftr-309	849	10	in	in	ADP
ftr-309	849	11	tax	tax	NOUN
ftr-309	849	12	law	law	NOUN
ftr-309	849	13	and	and	CCONJ
ftr-309	849	14	elsewhere	elsewhere	ADV
ftr-309	849	15	,	,	PUNCT
ftr-309	849	16	to	to	PART
ftr-309	849	17	accommodate	accommodate	VERB
ftr-309	849	18	the	the	DET
ftr-309	849	19	most	most	ADV
ftr-309	849	20	typical	typical	ADJ
ftr-309	849	21	fact	fact	NOUN
ftr-309	849	22	patterns.139	patterns.139	ADV
ftr-309	849	23	furthermore	furthermore	ADV
ftr-309	849	24	,	,	PUNCT
ftr-309	849	25	as	as	SCONJ
ftr-309	849	26	others	other	NOUN
ftr-309	849	27	have	have	AUX
ftr-309	849	28	argued	argue	VERB
ftr-309	849	29	,	,	PUNCT
ftr-309	849	30	tax	tax	NOUN
ftr-309	849	31	rules	rule	NOUN
ftr-309	849	32	based	base	VERB
ftr-309	849	33	on	on	ADP
ftr-309	849	34	the	the	DET
ftr-309	849	35	most	most	ADV
ftr-309	849	36	typical	typical	ADJ
ftr-309	849	37	fact	fact	NOUN
ftr-309	849	38	patterns	pattern	NOUN
ftr-309	849	39	leave	leave	VERB
ftr-309	849	40	gaps	gap	NOUN
ftr-309	849	41	that	that	PRON
ftr-309	849	42	taxpayers	taxpayer	NOUN
ftr-309	849	43	can	can	AUX
ftr-309	849	44	exploit	exploit	VERB
ftr-309	849	45	by	by	ADP
ftr-309	849	46	adjusting	adjust	VERB
ftr-309	849	47	their	their	PRON
ftr-309	849	48	transactions	transaction	NOUN
ftr-309	849	49	to	to	PART
ftr-309	849	50	take	take	VERB
ftr-309	849	51	the	the	DET
ftr-309	849	52	rules	rule	NOUN
ftr-309	849	53	into	into	ADP
ftr-309	849	54	account.140	account.140	ADP
ftr-309	849	55	luckily	luckily	ADV
ftr-309	849	56	,	,	PUNCT
ftr-309	849	57	a	a	DET
ftr-309	849	58	138	138	NUM
ftr-309	849	59	.	.	PUNCT
ftr-309	850	1	one	one	PRON
ftr-309	850	2	might	might	AUX
ftr-309	850	3	argue	argue	VERB
ftr-309	850	4	that	that	SCONJ
ftr-309	850	5	blackstone	blackstone	NOUN
ftr-309	850	6	group	group	NOUN
ftr-309	850	7	lp	lp	PROPN
ftr-309	850	8	's	's	PART
ftr-309	850	9	structure	structure	NOUN
ftr-309	850	10	actually	actually	ADV
ftr-309	850	11	exploits	exploit	VERB
ftr-309	850	12	the	the	DET
ftr-309	850	13	shortcomings	shortcoming	NOUN
ftr-309	850	14	of	of	ADP
ftr-309	850	15	a	a	DET
ftr-309	850	16	standard	standard	NOUN
ftr-309	850	17	rather	rather	ADV
ftr-309	850	18	than	than	ADP
ftr-309	850	19	a	a	DET
ftr-309	850	20	rule	rule	NOUN
ftr-309	850	21	.	.	PUNCT
ftr-309	851	1	blackstone	blackstone	NOUN
ftr-309	851	2	group	group	PROPN
ftr-309	851	3	lp	lp	PROPN
ftr-309	851	4	's	's	PART
ftr-309	851	5	structure	structure	NOUN
ftr-309	851	6	takes	take	VERB
ftr-309	851	7	advantage	advantage	NOUN
ftr-309	851	8	of	of	ADP
ftr-309	851	9	failings	failing	NOUN
ftr-309	851	10	of	of	ADP
ftr-309	851	11	the	the	DET
ftr-309	851	12	substantiality	substantiality	NOUN
ftr-309	851	13	test	test	NOUN
ftr-309	851	14	,	,	PUNCT
ftr-309	851	15	and	and	CCONJ
ftr-309	851	16	the	the	DET
ftr-309	851	17	substantiality	substantiality	NOUN
ftr-309	851	18	test	test	NOUN
ftr-309	851	19	has	have	VERB
ftr-309	851	20	some	some	DET
ftr-309	851	21	standard	standard	ADJ
ftr-309	851	22	-	-	PUNCT
ftr-309	851	23	like	like	ADJ
ftr-309	851	24	qualities	quality	NOUN
ftr-309	851	25	given	give	VERB
ftr-309	851	26	that	that	PRON
ftr-309	851	27	,	,	PUNCT
ftr-309	851	28	in	in	ADP
ftr-309	851	29	some	some	DET
ftr-309	851	30	respects	respect	NOUN
ftr-309	851	31	,	,	PUNCT
ftr-309	851	32	it	it	PRON
ftr-309	851	33	is	be	AUX
ftr-309	851	34	a	a	DET
ftr-309	851	35	vague	vague	ADJ
ftr-309	851	36	test	test	NOUN
ftr-309	851	37	.	.	PUNCT
ftr-309	852	1	vague	vague	ADJ
ftr-309	852	2	aspects	aspect	NOUN
ftr-309	852	3	of	of	ADP
ftr-309	852	4	the	the	DET
ftr-309	852	5	substantiality	substantiality	NOUN
ftr-309	852	6	test	test	NOUN
ftr-309	852	7	include	include	VERB
ftr-309	852	8	the	the	DET
ftr-309	852	9	fact	fact	NOUN
ftr-309	852	10	that	that	SCONJ
ftr-309	852	11	it	it	PRON
ftr-309	852	12	is	be	AUX
ftr-309	852	13	not	not	PART
ftr-309	852	14	entirely	entirely	ADV
ftr-309	852	15	clear	clear	ADJ
ftr-309	852	16	when	when	SCONJ
ftr-309	852	17	one	one	PRON
ftr-309	852	18	should	should	AUX
ftr-309	852	19	conclude	conclude	VERB
ftr-309	852	20	that	that	SCONJ
ftr-309	852	21	a	a	DET
ftr-309	852	22	partner	partner	NOUN
ftr-309	852	23	's	's	PART
ftr-309	852	24	after	after	ADP
ftr-309	852	25	-	-	PUNCT
ftr-309	852	26	tax	tax	NOUN
ftr-309	852	27	consequences	consequence	NOUN
ftr-309	852	28	"	"	PUNCT
ftr-309	852	29	may	may	AUX
ftr-309	852	30	"	"	PUNCT
ftr-309	852	31	be	be	AUX
ftr-309	852	32	enhanced	enhance	VERB
ftr-309	852	33	by	by	ADP
ftr-309	852	34	allocations	allocation	NOUN
ftr-309	852	35	or	or	CCONJ
ftr-309	852	36	when	when	SCONJ
ftr-309	852	37	one	one	PRON
ftr-309	852	38	should	should	AUX
ftr-309	852	39	conclude	conclude	VERB
ftr-309	852	40	that	that	SCONJ
ftr-309	852	41	there	there	PRON
ftr-309	852	42	is	be	VERB
ftr-309	852	43	a	a	DET
ftr-309	852	44	"	"	PUNCT
ftr-309	852	45	strong	strong	ADJ
ftr-309	852	46	likelihood	likelihood	NOUN
ftr-309	852	47	"	"	PUNCT
ftr-309	852	48	that	that	SCONJ
ftr-309	852	49	no	no	DET
ftr-309	852	50	partner	partner	NOUN
ftr-309	852	51	will	will	AUX
ftr-309	852	52	be	be	AUX
ftr-309	852	53	worse	bad	ADJ
ftr-309	852	54	off	off	ADP
ftr-309	852	55	after	after	ADP
ftr-309	852	56	tax	tax	NOUN
ftr-309	852	57	.	.	PUNCT
ftr-309	853	1	for	for	ADP
ftr-309	853	2	purposes	purpose	NOUN
ftr-309	853	3	of	of	ADP
ftr-309	853	4	the	the	DET
ftr-309	853	5	analysis	analysis	NOUN
ftr-309	853	6	above	above	ADV
ftr-309	853	7	,	,	PUNCT
ftr-309	853	8	it	it	PRON
ftr-309	853	9	is	be	AUX
ftr-309	853	10	not	not	PART
ftr-309	853	11	crucial	crucial	ADJ
ftr-309	853	12	to	to	PART
ftr-309	853	13	classify	classify	VERB
ftr-309	853	14	substantiality	substantiality	NOUN
ftr-309	853	15	as	as	ADP
ftr-309	853	16	a	a	DET
ftr-309	853	17	rule	rule	NOUN
ftr-309	853	18	or	or	CCONJ
ftr-309	853	19	a	a	DET
ftr-309	853	20	standard	standard	NOUN
ftr-309	853	21	.	.	PUNCT
ftr-309	854	1	either	either	DET
ftr-309	854	2	way	way	NOUN
ftr-309	854	3	,	,	PUNCT
ftr-309	854	4	the	the	DET
ftr-309	854	5	substantiality	substantiality	NOUN
ftr-309	854	6	test	test	NOUN
ftr-309	854	7	is	be	AUX
ftr-309	854	8	implicitly	implicitly	ADV
ftr-309	854	9	based	base	VERB
ftr-309	854	10	on	on	ADP
ftr-309	854	11	the	the	DET
ftr-309	854	12	assumption	assumption	NOUN
ftr-309	854	13	that	that	SCONJ
ftr-309	854	14	partners	partner	NOUN
ftr-309	854	15	are	be	AUX
ftr-309	854	16	unrelated	unrelated	ADJ
ftr-309	854	17	and	and	CCONJ
ftr-309	854	18	,	,	PUNCT
ftr-309	854	19	therefore	therefore	ADV
ftr-309	854	20	,	,	PUNCT
ftr-309	854	21	is	be	AUX
ftr-309	854	22	ill	ill	ADV
ftr-309	854	23	-	-	PUNCT
ftr-309	854	24	equipped	equip	VERB
ftr-309	854	25	to	to	PART
ftr-309	854	26	address	address	VERB
ftr-309	854	27	allocations	allocation	NOUN
ftr-309	854	28	among	among	ADP
ftr-309	854	29	related	related	ADJ
ftr-309	854	30	partners	partner	NOUN
ftr-309	854	31	.	.	PUNCT
ftr-309	855	1	139	139	NUM
ftr-309	855	2	.	.	PUNCT
ftr-309	856	1	see	see	VERB
ftr-309	856	2	,	,	PUNCT
ftr-309	856	3	e.g.	e.g.	ADV
ftr-309	856	4	,	,	PUNCT
ftr-309	856	5	martin	martin	PROPN
ftr-309	856	6	j.	j.	PROPN
ftr-309	856	7	mcmahon	mcmahon	PROPN
ftr-309	856	8	jr	jr	PROPN
ftr-309	856	9	.	.	PROPN
ftr-309	856	10	,	,	PUNCT
ftr-309	856	11	beyond	beyond	ADP
ftr-309	856	12	a	a	DET
ftr-309	856	13	gaar	gaar	NOUN
ftr-309	856	14	:	:	PUNCT
ftr-309	856	15	retrofitting	retrofit	VERB
ftr-309	856	16	the	the	DET
ftr-309	856	17	code	code	NOUN
ftr-309	856	18	to	to	PART
ftr-309	856	19	rein	rein	VERB
ftr-309	856	20	in	in	ADP
ftr-309	856	21	21st	21st	ADJ
ftr-309	856	22	century	century	NOUN
ftr-309	856	23	tax	tax	NOUN
ftr-309	856	24	shelters	shelter	NOUN
ftr-309	856	25	,	,	PUNCT
ftr-309	856	26	98	98	NUM
ftr-309	856	27	tax	tax	NOUN
ftr-309	856	28	notes	note	NOUN
ftr-309	856	29	1721	1721	NUM
ftr-309	856	30	,	,	PUNCT
ftr-309	856	31	1722	1722	NUM
ftr-309	856	32	(	(	PUNCT
ftr-309	856	33	march	march	PROPN
ftr-309	856	34	17	17	NUM
ftr-309	856	35	,	,	PUNCT
ftr-309	856	36	2003	2003	NUM
ftr-309	856	37	)	)	PUNCT
ftr-309	857	1	[	[	X
ftr-309	857	2	hereinafter	hereinafter	NOUN
ftr-309	857	3	mcmahon	mcmahon	PROPN
ftr-309	857	4	,	,	PUNCT
ftr-309	857	5	beyond	beyond	ADP
ftr-309	857	6	a	a	DET
ftr-309	857	7	gaar	gaar	NOUN
ftr-309	857	8	]	]	PUNCT
ftr-309	857	9	;	;	PUNCT
ftr-309	857	10	david	david	PROPN
ftr-309	857	11	a.	a.	PROPN
ftr-309	857	12	weisbach	weisbach	PROPN
ftr-309	857	13	,	,	PUNCT
ftr-309	857	14	formalism	formalism	NOUN
ftr-309	857	15	in	in	ADP
ftr-309	857	16	the	the	DET
ftr-309	857	17	tax	tax	NOUN
ftr-309	857	18	law	law	NOUN
ftr-309	857	19	,	,	PUNCT
ftr-309	857	20	66	66	NUM
ftr-309	857	21	u.	u.	PROPN
ftr-309	857	22	chi	chi	PROPN
ftr-309	857	23	.	.	PUNCT
ftr-309	858	1	l.	l.	PROPN
ftr-309	858	2	rev	rev	PROPN
ftr-309	858	3	.	.	PROPN
ftr-309	858	4	860	860	NUM
ftr-309	858	5	,	,	PUNCT
ftr-309	858	6	867	867	NUM
ftr-309	858	7	-	-	SYM
ftr-309	858	8	69	69	NUM
ftr-309	858	9	(	(	PUNCT
ftr-309	858	10	1999	1999	NUM
ftr-309	858	11	)	)	PUNCT
ftr-309	859	1	[	[	X
ftr-309	859	2	hereinafter	hereinafter	NOUN
ftr-309	859	3	weisbach	weisbach	NOUN
ftr-309	859	4	,	,	PUNCT
ftr-309	859	5	formalism	formalism	NOUN
ftr-309	859	6	]	]	PUNCT
ftr-309	859	7	.	.	PUNCT
ftr-309	860	1	for	for	ADP
ftr-309	860	2	a	a	DET
ftr-309	860	3	related	relate	VERB
ftr-309	860	4	point	point	NOUN
ftr-309	860	5	,	,	PUNCT
ftr-309	860	6	see	see	VERB
ftr-309	860	7	louis	louis	PROPN
ftr-309	860	8	kaplow	kaplow	NOUN
ftr-309	860	9	,	,	PUNCT
ftr-309	860	10	rules	rule	NOUN
ftr-309	860	11	versus	versus	ADP
ftr-309	860	12	standards	standard	NOUN
ftr-309	860	13	:	:	PUNCT
ftr-309	860	14	an	an	DET
ftr-309	860	15	economic	economic	ADJ
ftr-309	860	16	analysis	analysis	NOUN
ftr-309	860	17	,	,	PUNCT
ftr-309	860	18	42	42	NUM
ftr-309	860	19	duke	duke	PROPN
ftr-309	860	20	l.j	l.j	PROPN
ftr-309	860	21	.	.	PROPN
ftr-309	860	22	557	557	NUM
ftr-309	860	23	,	,	PUNCT
ftr-309	860	24	577	577	NUM
ftr-309	860	25	(	(	PUNCT
ftr-309	860	26	1992	1992	NUM
ftr-309	860	27	)	)	PUNCT
ftr-309	860	28	,	,	PUNCT
ftr-309	860	29	suggesting	suggest	VERB
ftr-309	860	30	that	that	SCONJ
ftr-309	860	31	lawmakers	lawmaker	NOUN
ftr-309	860	32	should	should	AUX
ftr-309	860	33	design	design	VERB
ftr-309	860	34	rules	rule	NOUN
ftr-309	860	35	to	to	PART
ftr-309	860	36	cover	cover	AUX
ftr-309	860	37	frequently	frequently	ADV
ftr-309	860	38	occurring	occur	VERB
ftr-309	860	39	fact	fact	NOUN
ftr-309	860	40	patterns	pattern	NOUN
ftr-309	860	41	by	by	ADP
ftr-309	860	42	stating	state	VERB
ftr-309	860	43	:	:	PUNCT
ftr-309	860	44	"	"	PUNCT
ftr-309	860	45	[	[	X
ftr-309	860	46	t]he	t]he	ADV
ftr-309	860	47	greater	great	ADJ
ftr-309	860	48	the	the	DET
ftr-309	860	49	frequency	frequency	NOUN
ftr-309	860	50	with	with	ADP
ftr-309	860	51	which	which	PRON
ftr-309	860	52	a	a	DET
ftr-309	860	53	legal	legal	ADJ
ftr-309	860	54	command	command	NOUN
ftr-309	860	55	will	will	AUX
ftr-309	860	56	apply	apply	VERB
ftr-309	860	57	,	,	PUNCT
ftr-309	860	58	the	the	DET
ftr-309	860	59	more	more	ADV
ftr-309	860	60	desirable	desirable	ADJ
ftr-309	860	61	rules	rule	NOUN
ftr-309	860	62	tend	tend	VERB
ftr-309	860	63	to	to	PART
ftr-309	860	64	be	be	AUX
ftr-309	860	65	relative	relative	ADJ
ftr-309	860	66	to	to	ADP
ftr-309	860	67	standards	standard	NOUN
ftr-309	860	68	.	.	PUNCT
ftr-309	860	69	"	"	PUNCT
ftr-309	861	1	140	140	NUM
ftr-309	861	2	.	.	PUNCT
ftr-309	862	1	see	see	VERB
ftr-309	862	2	,	,	PUNCT
ftr-309	862	3	e.g.	e.g.	ADV
ftr-309	862	4	,	,	PUNCT
ftr-309	862	5	noil	noil	PROPN
ftr-309	862	6	b.	b.	PROPN
ftr-309	862	7	cunningham	cunningham	PROPN
ftr-309	862	8	&	&	CCONJ
ftr-309	862	9	james	james	PROPN
ftr-309	862	10	r.	r.	PROPN
ftr-309	862	11	repetti	repetti	PROPN
ftr-309	862	12	,	,	PUNCT
ftr-309	862	13	textualism	textualism	NOUN
ftr-309	862	14	and	and	CCONJ
ftr-309	862	15	tax	tax	NOUN
ftr-309	862	16	shelters	shelter	NOUN
ftr-309	862	17	,	,	PUNCT
ftr-309	862	18	24	24	NUM
ftr-309	862	19	va	va	NOUN
ftr-309	862	20	.	.	PUNCT
ftr-309	863	1	tax	tax	PROPN
ftr-309	863	2	rev	rev	PROPN
ftr-309	863	3	.	.	PROPN
ftr-309	863	4	1	1	NUM
ftr-309	863	5	,	,	PUNCT
ftr-309	863	6	33	33	NUM
ftr-309	863	7	(	(	PUNCT
ftr-309	863	8	2004	2004	NUM
ftr-309	863	9	)	)	PUNCT
ftr-309	864	1	[	[	X
ftr-309	864	2	hereinafter	hereinafter	NOUN
ftr-309	864	3	cunningham	cunningham	PROPN
ftr-309	864	4	&	&	CCONJ
ftr-309	864	5	repetti	repetti	PROPN
ftr-309	864	6	,	,	PUNCT
ftr-309	864	7	textualism	textualism	NOUN
ftr-309	864	8	]	]	PUNCT
ftr-309	864	9	;	;	PUNCT
ftr-309	864	10	daniel	daniel	PROPN
ftr-309	864	11	i.	i.	PROPN
ftr-309	864	12	halperin	halperin	PROPN
ftr-309	864	13	,	,	PUNCT
ftr-309	864	14	halperin	halperin	PROPN
ftr-309	864	15	expresses	express	VERB
ftr-309	864	16	support	support	NOUN
ftr-309	864	17	for	for	ADP
ftr-309	864	18	partnership	partnership	NOUN
ftr-309	864	19	anti190	anti190	PROPN
ftr-309	865	1	[	[	X
ftr-309	865	2	vol	vol	NOUN
ftr-309	865	3	.	.	PUNCT
ftr-309	866	1	14:5	14:5	NUM
ftr-309	866	2	2013	2013	NUM
ftr-309	866	3	]	]	PUNCT
ftr-309	866	4	was	be	AUX
ftr-309	866	5	blackstone	blackstone	NOUN
ftr-309	866	6	's	's	PART
ftr-309	866	7	initial	initial	ADJ
ftr-309	866	8	public	public	ADJ
ftr-309	866	9	offering	offering	NOUN
ftr-309	866	10	too	too	ADV
ftr-309	866	11	good	good	ADJ
ftr-309	866	12	to	to	PART
ftr-309	866	13	be	be	AUX
ftr-309	866	14	true	true	ADJ
ftr-309	866	15	?	?	PUNCT
ftr-309	867	1	solution	solution	NOUN
ftr-309	867	2	to	to	ADP
ftr-309	867	3	this	this	DET
ftr-309	867	4	pervasive	pervasive	ADJ
ftr-309	867	5	problem	problem	NOUN
ftr-309	867	6	exists	exist	VERB
ftr-309	867	7	.	.	PUNCT
ftr-309	868	1	in	in	ADP
ftr-309	868	2	particular	particular	ADJ
ftr-309	868	3	,	,	PUNCT
ftr-309	868	4	standards	standard	NOUN
ftr-309	868	5	can	can	AUX
ftr-309	868	6	fill	fill	VERB
ftr-309	868	7	gaps	gap	NOUN
ftr-309	868	8	left	leave	VERB
ftr-309	868	9	by	by	ADP
ftr-309	868	10	tax	tax	NOUN
ftr-309	868	11	rules	rule	NOUN
ftr-309	868	12	that	that	PRON
ftr-309	868	13	envision	envision	VERB
ftr-309	868	14	only	only	ADV
ftr-309	868	15	the	the	DET
ftr-309	868	16	typical	typical	ADJ
ftr-309	868	17	case.14	case.14	NOUN
ftr-309	868	18	1	1	NUM
ftr-309	868	19	moreover	moreover	ADV
ftr-309	868	20	,	,	PUNCT
ftr-309	868	21	because	because	SCONJ
ftr-309	868	22	standards	standard	NOUN
ftr-309	868	23	fill	fill	VERB
ftr-309	868	24	the	the	DET
ftr-309	868	25	gap	gap	NOUN
ftr-309	868	26	left	leave	VERB
ftr-309	868	27	by	by	ADP
ftr-309	868	28	rules	rule	NOUN
ftr-309	868	29	designed	design	VERB
ftr-309	868	30	for	for	ADP
ftr-309	868	31	the	the	DET
ftr-309	868	32	typical	typical	ADJ
ftr-309	868	33	case	case	NOUN
ftr-309	868	34	,	,	PUNCT
ftr-309	868	35	courts	court	NOUN
ftr-309	868	36	and	and	CCONJ
ftr-309	868	37	the	the	DET
ftr-309	868	38	irs	irs	PROPN
ftr-309	868	39	should	should	AUX
ftr-309	868	40	readily	readily	ADV
ftr-309	868	41	apply	apply	VERB
ftr-309	868	42	standards	standard	NOUN
ftr-309	868	43	to	to	ADP
ftr-309	868	44	atypical	atypical	ADJ
ftr-309	868	45	cases	case	NOUN
ftr-309	868	46	(	(	PUNCT
ftr-309	868	47	or	or	CCONJ
ftr-309	868	48	cases	case	NOUN
ftr-309	868	49	that	that	SCONJ
ftr-309	868	50	the	the	DET
ftr-309	868	51	rules	rule	NOUN
ftr-309	868	52	did	do	AUX
ftr-309	868	53	not	not	PART
ftr-309	868	54	contemplate).14	contemplate).14	SYM
ftr-309	868	55	2	2	NUM
ftr-309	868	56	abuse	abuse	NOUN
ftr-309	868	57	reg	reg	NOUN
ftr-309	868	58	.	.	PUNCT
ftr-309	869	1	,	,	PUNCT
ftr-309	869	2	public	public	ADJ
ftr-309	869	3	comment	comment	NOUN
ftr-309	869	4	on	on	ADP
ftr-309	869	5	regulations	regulation	NOUN
ftr-309	869	6	,	,	PUNCT
ftr-309	869	7	94	94	NUM
ftr-309	869	8	tnt	tnt	NOUN
ftr-309	869	9	152	152	NUM
ftr-309	869	10	-	-	SYM
ftr-309	869	11	36	36	NUM
ftr-309	869	12	(	(	PUNCT
ftr-309	869	13	aug	aug	PROPN
ftr-309	869	14	.	.	PROPN
ftr-309	869	15	4	4	NUM
ftr-309	869	16	,	,	PUNCT
ftr-309	869	17	1994	1994	NUM
ftr-309	869	18	)	)	PUNCT
ftr-309	869	19	(	(	PUNCT
ftr-309	869	20	"	"	PUNCT
ftr-309	869	21	[	[	X
ftr-309	869	22	m]ore	m]ore	X
ftr-309	869	23	specific	specific	ADJ
ftr-309	869	24	rules	rule	NOUN
ftr-309	869	25	will	will	AUX
ftr-309	869	26	invite	invite	VERB
ftr-309	869	27	taxpayers	taxpayer	NOUN
ftr-309	869	28	and	and	CCONJ
ftr-309	869	29	advisors	advisor	NOUN
ftr-309	869	30	to	to	PART
ftr-309	869	31	devise	devise	VERB
ftr-309	869	32	approaches	approach	NOUN
ftr-309	869	33	that	that	PRON
ftr-309	869	34	will	will	AUX
ftr-309	869	35	dodge	dodge	VERB
ftr-309	869	36	the	the	DET
ftr-309	869	37	specific	specific	ADJ
ftr-309	869	38	inhibitions	inhibition	NOUN
ftr-309	869	39	.	.	PUNCT
ftr-309	870	1	"	"	PUNCT
ftr-309	870	2	)	)	PUNCT
ftr-309	870	3	;	;	PUNCT
ftr-309	870	4	calvin	calvin	PROPN
ftr-309	870	5	h.	h.	PROPN
ftr-309	870	6	johnson	johnson	PROPN
ftr-309	870	7	,	,	PUNCT
ftr-309	870	8	h.r	h.r	PROPN
ftr-309	870	9	.	.	PROPN
ftr-309	870	10	_	_	NOUN
ftr-309	870	11	,	,	PUNCT
ftr-309	870	12	the	the	DET
ftr-309	870	13	anti	anti	ADJ
ftr-309	870	14	-	-	ADJ
ftr-309	870	15	skunk	skunk	ADJ
ftr-309	870	16	works	work	NOUN
ftr-309	870	17	corporate	corporate	ADJ
ftr-309	870	18	tax	tax	NOUN
ftr-309	870	19	shelter	shelter	NOUN
ftr-309	870	20	act	act	NOUN
ftr-309	870	21	of	of	ADP
ftr-309	870	22	1999	1999	NUM
ftr-309	870	23	,	,	PUNCT
ftr-309	870	24	84	84	NUM
ftr-309	870	25	tax	tax	NOUN
ftr-309	870	26	notes	note	NOUN
ftr-309	870	27	443	443	NUM
ftr-309	870	28	,	,	PUNCT
ftr-309	870	29	445	445	NUM
ftr-309	870	30	(	(	PUNCT
ftr-309	870	31	july	july	PROPN
ftr-309	870	32	19	19	NUM
ftr-309	870	33	,	,	PUNCT
ftr-309	870	34	1999	1999	NUM
ftr-309	870	35	)	)	PUNCT
ftr-309	871	1	[	[	X
ftr-309	871	2	hereinafter	hereinafter	NOUN
ftr-309	871	3	johnson	johnson	PROPN
ftr-309	871	4	,	,	PUNCT
ftr-309	871	5	the	the	DET
ftr-309	871	6	anti	anti	ADJ
ftr-309	871	7	-	-	ADJ
ftr-309	871	8	skunk	skunk	ADJ
ftr-309	871	9	works	work	NOUN
ftr-309	871	10	]	]	PUNCT
ftr-309	871	11	(	(	PUNCT
ftr-309	871	12	"	"	PUNCT
ftr-309	871	13	loopholes	loophole	NOUN
ftr-309	871	14	can	can	AUX
ftr-309	871	15	be	be	AUX
ftr-309	871	16	created	create	VERB
ftr-309	871	17	in	in	ADP
ftr-309	871	18	any	any	DET
ftr-309	871	19	human	human	ADJ
ftr-309	871	20	tax	tax	NOUN
ftr-309	871	21	system	system	NOUN
ftr-309	871	22	unless	unless	SCONJ
ftr-309	871	23	the	the	DET
ftr-309	871	24	system	system	NOUN
ftr-309	871	25	is	be	AUX
ftr-309	871	26	defended	defend	VERB
ftr-309	871	27	and	and	CCONJ
ftr-309	871	28	repaired	repair	VERB
ftr-309	871	29	.	.	PUNCT
ftr-309	872	1	shelters	shelter	NOUN
ftr-309	872	2	take	take	VERB
ftr-309	872	3	razorthin	razorthin	ADJ
ftr-309	872	4	fissures	fissure	NOUN
ftr-309	872	5	of	of	ADP
ftr-309	872	6	no	no	DET
ftr-309	872	7	material	material	NOUN
ftr-309	872	8	concern	concern	NOUN
ftr-309	872	9	and	and	CCONJ
ftr-309	872	10	turn	turn	VERB
ftr-309	872	11	them	they	PRON
ftr-309	872	12	into	into	ADP
ftr-309	872	13	gaping	gape	VERB
ftr-309	872	14	holes	hole	NOUN
ftr-309	872	15	in	in	ADP
ftr-309	872	16	the	the	DET
ftr-309	872	17	tax	tax	NOUN
ftr-309	872	18	base	base	NOUN
ftr-309	872	19	.	.	PUNCT
ftr-309	873	1	"	"	PUNCT
ftr-309	873	2	)	)	PUNCT
ftr-309	873	3	;	;	PUNCT
ftr-309	873	4	kyle	kyle	PROPN
ftr-309	873	5	d.	d.	PROPN
ftr-309	873	6	logue	logue	PROPN
ftr-309	873	7	,	,	PUNCT
ftr-309	873	8	tax	tax	NOUN
ftr-309	873	9	law	law	NOUN
ftr-309	873	10	uncertainty	uncertainty	NOUN
ftr-309	873	11	and	and	CCONJ
ftr-309	873	12	the	the	DET
ftr-309	873	13	role	role	NOUN
ftr-309	873	14	of	of	ADP
ftr-309	873	15	tax	tax	NOUN
ftr-309	873	16	insurance	insurance	NOUN
ftr-309	873	17	,	,	PUNCT
ftr-309	873	18	25	25	NUM
ftr-309	873	19	va	va	NOUN
ftr-309	873	20	.	.	PUNCT
ftr-309	873	21	tax	tax	PROPN
ftr-309	873	22	rev	rev	PROPN
ftr-309	873	23	.	.	PROPN
ftr-309	873	24	339	339	NUM
ftr-309	873	25	,	,	PUNCT
ftr-309	873	26	366	366	NUM
ftr-309	873	27	(	(	PUNCT
ftr-309	873	28	2005	2005	NUM
ftr-309	873	29	)	)	PUNCT
ftr-309	873	30	(	(	PUNCT
ftr-309	873	31	"	"	PUNCT
ftr-309	873	32	[	[	AUX
ftr-309	873	33	wlhatever	wlhatever	ADP
ftr-309	873	34	tax	tax	NOUN
ftr-309	873	35	rules	rule	NOUN
ftr-309	873	36	are	be	AUX
ftr-309	873	37	adopted	adopt	VERB
ftr-309	873	38	,	,	PUNCT
ftr-309	873	39	no	no	ADV
ftr-309	873	40	matter	matter	ADV
ftr-309	873	41	how	how	SCONJ
ftr-309	873	42	specific	specific	ADJ
ftr-309	873	43	or	or	CCONJ
ftr-309	873	44	detailed	detailed	ADJ
ftr-309	873	45	or	or	CCONJ
ftr-309	873	46	comprehensive	comprehensive	ADJ
ftr-309	873	47	they	they	PRON
ftr-309	873	48	are	be	AUX
ftr-309	873	49	,	,	PUNCT
ftr-309	873	50	sophisticated	sophisticated	ADJ
ftr-309	873	51	taxpayers	taxpayer	NOUN
ftr-309	873	52	with	with	ADP
ftr-309	873	53	fancy	fancy	ADJ
ftr-309	873	54	tax	tax	NOUN
ftr-309	873	55	lawyers	lawyer	NOUN
ftr-309	873	56	and	and	CCONJ
ftr-309	873	57	accountants	accountant	NOUN
ftr-309	873	58	will	will	AUX
ftr-309	873	59	always	always	ADV
ftr-309	873	60	find	find	VERB
ftr-309	873	61	opportunities	opportunity	NOUN
ftr-309	873	62	for	for	ADP
ftr-309	873	63	aggressive	aggressive	ADJ
ftr-309	873	64	or	or	CCONJ
ftr-309	873	65	abusive	abusive	ADJ
ftr-309	873	66	tax	tax	NOUN
ftr-309	873	67	avoidance	avoidance	NOUN
ftr-309	873	68	.	.	PUNCT
ftr-309	874	1	put	put	VERB
ftr-309	874	2	differently	differently	ADV
ftr-309	874	3	,	,	PUNCT
ftr-309	874	4	it	it	PRON
ftr-309	874	5	simply	simply	ADV
ftr-309	874	6	is	be	AUX
ftr-309	874	7	not	not	PART
ftr-309	874	8	possible	possible	ADJ
ftr-309	874	9	to	to	PART
ftr-309	874	10	write	write	VERB
ftr-309	874	11	tax	tax	NOUN
ftr-309	874	12	laws	law	NOUN
ftr-309	874	13	that	that	PRON
ftr-309	874	14	are	be	AUX
ftr-309	874	15	devoid	devoid	ADJ
ftr-309	874	16	of	of	ADP
ftr-309	874	17	all	all	DET
ftr-309	874	18	unintended	unintended	ADJ
ftr-309	874	19	loopholes	loophole	NOUN
ftr-309	874	20	.	.	PUNCT
ftr-309	875	1	"	"	PUNCT
ftr-309	875	2	)	)	PUNCT
ftr-309	875	3	;	;	PUNCT
ftr-309	875	4	mcmahon	mcmahon	PROPN
ftr-309	875	5	,	,	PUNCT
ftr-309	875	6	beyond	beyond	ADP
ftr-309	875	7	a	a	DET
ftr-309	875	8	gaar	gaar	NOUN
ftr-309	875	9	,	,	PUNCT
ftr-309	875	10	supra	supra	PROPN
ftr-309	875	11	note	note	NOUN
ftr-309	875	12	139	139	NUM
ftr-309	875	13	,	,	PUNCT
ftr-309	875	14	at	at	ADP
ftr-309	875	15	1722	1722	NUM
ftr-309	875	16	;	;	PUNCT
ftr-309	875	17	andrea	andrea	PROPN
ftr-309	875	18	monroe	monroe	PROPN
ftr-309	875	19	,	,	PUNCT
ftr-309	875	20	what	what	PRON
ftr-309	875	21	's	be	AUX
ftr-309	875	22	in	in	ADP
ftr-309	875	23	a	a	DET
ftr-309	875	24	name	name	NOUN
ftr-309	875	25	:	:	PUNCT
ftr-309	875	26	can	can	AUX
ftr-309	875	27	the	the	DET
ftr-309	875	28	partnership	partnership	NOUN
ftr-309	875	29	anti	anti	ADJ
ftr-309	875	30	-	-	ADJ
ftr-309	875	31	abuse	abuse	ADJ
ftr-309	875	32	rule	rule	NOUN
ftr-309	875	33	really	really	ADV
ftr-309	875	34	stop	stop	VERB
ftr-309	875	35	partnership	partnership	NOUN
ftr-309	875	36	tax	tax	NOUN
ftr-309	875	37	abuse	abuse	NOUN
ftr-309	875	38	?	?	PUNCT
ftr-309	875	39	,	,	PUNCT
ftr-309	875	40	60	60	NUM
ftr-309	875	41	case	case	NOUN
ftr-309	875	42	w.	w.	NOUN
ftr-309	875	43	res	res	PROPN
ftr-309	875	44	.	.	PUNCT
ftr-309	876	1	l.	l.	PROPN
ftr-309	876	2	rev	rev	PROPN
ftr-309	876	3	.	.	PROPN
ftr-309	876	4	401	401	NUM
ftr-309	876	5	,	,	PUNCT
ftr-309	876	6	409	409	NUM
ftr-309	876	7	(	(	PUNCT
ftr-309	876	8	2010	2010	NUM
ftr-309	876	9	)	)	PUNCT
ftr-309	877	1	[	[	X
ftr-309	877	2	hereinafter	hereinafter	NOUN
ftr-309	877	3	monroe	monroe	PROPN
ftr-309	877	4	,	,	PUNCT
ftr-309	877	5	what	what	PRON
ftr-309	877	6	's	be	AUX
ftr-309	877	7	in	in	ADP
ftr-309	877	8	a	a	DET
ftr-309	877	9	name	name	NOUN
ftr-309	877	10	]	]	PUNCT
ftr-309	877	11	;	;	PUNCT
ftr-309	877	12	daniel	daniel	PROPN
ftr-309	877	13	n.	n.	PROPN
ftr-309	877	14	shaviro	shaviro	PROPN
ftr-309	877	15	&	&	CCONJ
ftr-309	877	16	david	david	PROPN
ftr-309	877	17	a.	a.	PROPN
ftr-309	877	18	weisbach	weisbach	PROPN
ftr-309	877	19	,	,	PUNCT
ftr-309	877	20	the	the	DET
ftr-309	877	21	fifth	fifth	ADJ
ftr-309	877	22	circuit	circuit	NOUN
ftr-309	877	23	gets	get	VERB
ftr-309	877	24	it	it	PRON
ftr-309	877	25	wrong	wrong	ADJ
ftr-309	877	26	in	in	ADP
ftr-309	877	27	compaq	compaq	PROPN
ftr-309	877	28	v.	v.	ADP
ftr-309	877	29	commissioner	commissioner	PROPN
ftr-309	877	30	,	,	PUNCT
ftr-309	877	31	94	94	NUM
ftr-309	877	32	tax	tax	NOUN
ftr-309	877	33	notes	note	NOUN
ftr-309	877	34	511	511	NUM
ftr-309	877	35	,	,	PUNCT
ftr-309	877	36	512	512	NUM
ftr-309	877	37	-	-	SYM
ftr-309	877	38	13	13	NUM
ftr-309	877	39	(	(	PUNCT
ftr-309	877	40	jan	jan	PROPN
ftr-309	877	41	.	.	PROPN
ftr-309	877	42	28	28	NUM
ftr-309	877	43	,	,	PUNCT
ftr-309	877	44	2002	2002	NUM
ftr-309	877	45	)	)	PUNCT
ftr-309	878	1	[	[	X
ftr-309	878	2	hereinafter	hereinafter	NOUN
ftr-309	878	3	shaviro	shaviro	NOUN
ftr-309	878	4	&	&	CCONJ
ftr-309	878	5	weisbach	weisbach	NOUN
ftr-309	878	6	,	,	PUNCT
ftr-309	878	7	the	the	DET
ftr-309	878	8	fifth	fifth	ADJ
ftr-309	878	9	circuit	circuit	NOUN
ftr-309	878	10	]	]	X
ftr-309	878	11	;	;	PUNCT
ftr-309	878	12	weisbach	weisbach	NOUN
ftr-309	878	13	,	,	PUNCT
ftr-309	878	14	formalism	formalism	NOUN
ftr-309	878	15	,	,	PUNCT
ftr-309	878	16	supra	supra	PROPN
ftr-309	878	17	note	note	NOUN
ftr-309	878	18	139	139	NUM
ftr-309	878	19	,	,	PUNCT
ftr-309	878	20	at	at	ADP
ftr-309	878	21	869	869	NUM
ftr-309	878	22	(	(	PUNCT
ftr-309	878	23	"	"	PUNCT
ftr-309	878	24	uncommon	uncommon	ADJ
ftr-309	878	25	transactions	transaction	NOUN
ftr-309	878	26	that	that	PRON
ftr-309	878	27	are	be	AUX
ftr-309	878	28	taxed	tax	VERB
ftr-309	878	29	inappropriately	inappropriately	ADV
ftr-309	878	30	become	become	VERB
ftr-309	878	31	common	common	ADJ
ftr-309	878	32	as	as	SCONJ
ftr-309	878	33	taxpayers	taxpayer	NOUN
ftr-309	878	34	discover	discover	VERB
ftr-309	878	35	how	how	SCONJ
ftr-309	878	36	to	to	PART
ftr-309	878	37	take	take	VERB
ftr-309	878	38	advantage	advantage	NOUN
ftr-309	878	39	of	of	ADP
ftr-309	878	40	them	they	PRON
ftr-309	878	41	.	.	PUNCT
ftr-309	878	42	"	"	PUNCT
ftr-309	878	43	)	)	PUNCT
ftr-309	878	44	.	.	PUNCT
ftr-309	879	1	141	141	NUM
ftr-309	879	2	.	.	PUNCT
ftr-309	880	1	see	see	VERB
ftr-309	880	2	,	,	PUNCT
ftr-309	880	3	e.g.	e.g.	ADV
ftr-309	880	4	,	,	PUNCT
ftr-309	880	5	cunningham	cunningham	PROPN
ftr-309	880	6	&	&	CCONJ
ftr-309	880	7	repetti	repetti	PROPN
ftr-309	880	8	,	,	PUNCT
ftr-309	880	9	textualism	textualism	NOUN
ftr-309	880	10	,	,	PUNCT
ftr-309	880	11	supra	supra	PROPN
ftr-309	880	12	note	note	NOUN
ftr-309	880	13	140	140	NUM
ftr-309	880	14	,	,	PUNCT
ftr-309	880	15	at	at	ADP
ftr-309	880	16	6	6	NUM
ftr-309	880	17	;	;	PUNCT
ftr-309	880	18	johnson	johnson	PROPN
ftr-309	880	19	,	,	PUNCT
ftr-309	880	20	the	the	DET
ftr-309	880	21	anti	anti	ADJ
ftr-309	880	22	-	-	ADJ
ftr-309	880	23	skunk	skunk	ADJ
ftr-309	880	24	works	work	NOUN
ftr-309	880	25	,	,	PUNCT
ftr-309	880	26	supra	supra	PROPN
ftr-309	880	27	note	note	NOUN
ftr-309	880	28	140	140	NUM
ftr-309	880	29	,	,	PUNCT
ftr-309	880	30	at	at	ADP
ftr-309	880	31	445	445	NUM
ftr-309	880	32	(	(	PUNCT
ftr-309	880	33	"	"	PUNCT
ftr-309	880	34	the	the	DET
ftr-309	880	35	court	court	NOUN
ftr-309	880	36	-	-	PUNCT
ftr-309	880	37	made	make	VERB
ftr-309	880	38	equitable	equitable	ADJ
ftr-309	880	39	doctrines	doctrine	NOUN
ftr-309	880	40	such	such	ADJ
ftr-309	880	41	as	as	ADP
ftr-309	880	42	substance	substance	NOUN
ftr-309	880	43	over	over	ADP
ftr-309	880	44	form	form	NOUN
ftr-309	880	45	,	,	PUNCT
ftr-309	880	46	sham	sham	ADJ
ftr-309	880	47	transaction	transaction	NOUN
ftr-309	880	48	,	,	PUNCT
ftr-309	880	49	and	and	CCONJ
ftr-309	880	50	step	step	NOUN
ftr-309	880	51	transaction	transaction	NOUN
ftr-309	880	52	give	give	VERB
ftr-309	880	53	the	the	DET
ftr-309	880	54	law	law	NOUN
ftr-309	880	55	a	a	DET
ftr-309	880	56	vigor	vigor	NOUN
ftr-309	880	57	that	that	PRON
ftr-309	880	58	helps	help	VERB
ftr-309	880	59	the	the	DET
ftr-309	880	60	law	law	NOUN
ftr-309	880	61	defend	defend	VERB
ftr-309	880	62	against	against	ADP
ftr-309	880	63	aggressive	aggressive	ADJ
ftr-309	880	64	misinterpretations	misinterpretation	NOUN
ftr-309	880	65	of	of	ADP
ftr-309	880	66	the	the	DET
ftr-309	880	67	statute	statute	NOUN
ftr-309	880	68	to	to	PART
ftr-309	880	69	avoid	avoid	VERB
ftr-309	880	70	tax	tax	NOUN
ftr-309	880	71	.	.	PUNCT
ftr-309	880	72	"	"	PUNCT
ftr-309	880	73	)	)	PUNCT
ftr-309	880	74	;	;	PUNCT
ftr-309	880	75	monroe	monroe	PROPN
ftr-309	880	76	,	,	PUNCT
ftr-309	880	77	what	what	PRON
ftr-309	880	78	's	be	AUX
ftr-309	880	79	in	in	ADP
ftr-309	880	80	a	a	DET
ftr-309	880	81	name	name	NOUN
ftr-309	880	82	,	,	PUNCT
ftr-309	880	83	supra	supra	PROPN
ftr-309	880	84	note	note	NOUN
ftr-309	880	85	140	140	NUM
ftr-309	880	86	,	,	PUNCT
ftr-309	880	87	at	at	ADP
ftr-309	880	88	413	413	NUM
ftr-309	880	89	;	;	PUNCT
ftr-309	880	90	shaviro	shaviro	NOUN
ftr-309	880	91	&	&	CCONJ
ftr-309	880	92	weisbach	weisbach	NOUN
ftr-309	880	93	,	,	PUNCT
ftr-309	880	94	the	the	DET
ftr-309	880	95	fifth	fifth	ADJ
ftr-309	880	96	circuit	circuit	NOUN
ftr-309	880	97	,	,	PUNCT
ftr-309	880	98	supra	supra	PROPN
ftr-309	880	99	note	note	NOUN
ftr-309	880	100	140	140	NUM
ftr-309	880	101	,	,	PUNCT
ftr-309	880	102	at	at	ADP
ftr-309	880	103	513	513	NUM
ftr-309	880	104	;	;	PUNCT
ftr-309	881	1	weisbach	weisbach	NOUN
ftr-309	881	2	,	,	PUNCT
ftr-309	881	3	formalism	formalism	NOUN
ftr-309	881	4	,	,	PUNCT
ftr-309	881	5	supra	supra	PROPN
ftr-309	881	6	note	note	NOUN
ftr-309	881	7	139	139	NUM
ftr-309	881	8	,	,	PUNCT
ftr-309	881	9	at	at	ADP
ftr-309	881	10	876	876	NUM
ftr-309	881	11	(	(	PUNCT
ftr-309	881	12	"	"	PUNCT
ftr-309	881	13	[	[	X
ftr-309	881	14	i]n	i]n	NOUN
ftr-309	881	15	crafting	craft	VERB
ftr-309	881	16	a	a	DET
ftr-309	881	17	tax	tax	NOUN
ftr-309	881	18	law	law	NOUN
ftr-309	881	19	that	that	PRON
ftr-309	881	20	includes	include	VERB
ftr-309	881	21	an	an	DET
ftr-309	881	22	anti	anti	ADJ
ftr-309	881	23	-	-	ADJ
ftr-309	881	24	abuse	abuse	ADJ
ftr-309	881	25	rule	rule	NOUN
ftr-309	881	26	,	,	PUNCT
ftr-309	881	27	drafters	drafter	NOUN
ftr-309	881	28	need	need	AUX
ftr-309	881	29	not	not	PART
ftr-309	881	30	be	be	AUX
ftr-309	881	31	terribly	terribly	ADV
ftr-309	881	32	concerned	concerned	ADJ
ftr-309	881	33	with	with	ADP
ftr-309	881	34	rare	rare	ADJ
ftr-309	881	35	transactions	transaction	NOUN
ftr-309	881	36	that	that	PRON
ftr-309	881	37	might	might	AUX
ftr-309	881	38	be	be	AUX
ftr-309	881	39	mistaxed	mistaxe	VERB
ftr-309	881	40	because	because	SCONJ
ftr-309	881	41	attempts	attempt	NOUN
ftr-309	881	42	to	to	PART
ftr-309	881	43	take	take	VERB
ftr-309	881	44	advantage	advantage	NOUN
ftr-309	881	45	of	of	ADP
ftr-309	881	46	them	they	PRON
ftr-309	881	47	will	will	AUX
ftr-309	881	48	be	be	AUX
ftr-309	881	49	covered	cover	VERB
ftr-309	881	50	by	by	ADP
ftr-309	881	51	the	the	DET
ftr-309	881	52	anti	anti	ADJ
ftr-309	881	53	-	-	ADJ
ftr-309	881	54	abuse	abuse	ADJ
ftr-309	881	55	rule	rule	NOUN
ftr-309	881	56	.	.	PUNCT
ftr-309	881	57	"	"	PUNCT
ftr-309	881	58	)	)	PUNCT
ftr-309	881	59	.	.	PUNCT
ftr-309	882	1	142	142	NUM
ftr-309	882	2	.	.	PUNCT
ftr-309	883	1	see	see	VERB
ftr-309	883	2	,	,	PUNCT
ftr-309	883	3	e.g.	e.g.	ADV
ftr-309	883	4	,	,	PUNCT
ftr-309	883	5	deborah	deborah	PROPN
ftr-309	883	6	a.	a.	NOUN
ftr-309	883	7	geier	geier	PROPN
ftr-309	883	8	,	,	PUNCT
ftr-309	883	9	interpreting	interpret	VERB
ftr-309	883	10	tax	tax	NOUN
ftr-309	883	11	legislation	legislation	NOUN
ftr-309	883	12	:	:	PUNCT
ftr-309	883	13	the	the	DET
ftr-309	883	14	role	role	NOUN
ftr-309	883	15	of	of	ADP
ftr-309	883	16	purpose	purpose	NOUN
ftr-309	883	17	,	,	PUNCT
ftr-309	883	18	2	2	NUM
ftr-309	883	19	fla	fla	NOUN
ftr-309	883	20	.	.	PUNCT
ftr-309	884	1	tax	tax	PROPN
ftr-309	884	2	rev	rev	PROPN
ftr-309	884	3	.	.	PROPN
ftr-309	884	4	492	492	NUM
ftr-309	884	5	,	,	PUNCT
ftr-309	884	6	493	493	NUM
ftr-309	884	7	(	(	PUNCT
ftr-309	884	8	1995	1995	NUM
ftr-309	884	9	)	)	PUNCT
ftr-309	884	10	;	;	PUNCT
ftr-309	884	11	alan	alan	PROPN
ftr-309	884	12	gunn	gunn	PROPN
ftr-309	884	13	,	,	PUNCT
ftr-309	884	14	the	the	DET
ftr-309	884	15	use	use	NOUN
ftr-309	884	16	and	and	CCONJ
ftr-309	884	17	misuse	misuse	NOUN
ftr-309	884	18	of	of	ADP
ftr-309	884	19	anti	anti	ADJ
ftr-309	884	20	-	-	ADJ
ftr-309	884	21	abuse	abuse	ADJ
ftr-309	884	22	rules	rule	NOUN
ftr-309	884	23	:	:	PUNCT
ftr-309	884	24	lessons	lesson	NOUN
ftr-309	884	25	from	from	ADP
ftr-309	884	26	the	the	DET
ftr-309	884	27	partnership	partnership	NOUN
ftr-309	884	28	antiabuse	antiabuse	PROPN
ftr-309	884	29	regulations	regulation	NOUN
ftr-309	884	30	,	,	PUNCT
ftr-309	884	31	54	54	NUM
ftr-309	884	32	smu	smu	PROPN
ftr-309	884	33	l.	l.	PROPN
ftr-309	884	34	rev	rev	PROPN
ftr-309	884	35	.	.	PROPN
ftr-309	884	36	159	159	NUM
ftr-309	884	37	,	,	PUNCT
ftr-309	884	38	164	164	NUM
ftr-309	884	39	(	(	PUNCT
ftr-309	884	40	2001	2001	NUM
ftr-309	884	41	)	)	PUNCT
ftr-309	884	42	;	;	PUNCT
ftr-309	884	43	weisbach	weisbach	NOUN
ftr-309	884	44	,	,	PUNCT
ftr-309	884	45	formalism	formalism	NOUN
ftr-309	884	46	,	,	PUNCT
ftr-309	884	47	supra	supra	PROPN
ftr-309	884	48	note	note	NOUN
ftr-309	884	49	139	139	NUM
ftr-309	884	50	,	,	PUNCT
ftr-309	884	51	at	at	ADP
ftr-309	884	52	880	880	NUM
ftr-309	884	53	(	(	PUNCT
ftr-309	884	54	"	"	PUNCT
ftr-309	884	55	the	the	DET
ftr-309	884	56	statute	statute	NOUN
ftr-309	884	57	's	's	PART
ftr-309	884	58	purpose	purpose	NOUN
ftr-309	884	59	is	be	AUX
ftr-309	884	60	relevant	relevant	ADJ
ftr-309	884	61	because	because	SCONJ
ftr-309	884	62	it	it	PRON
ftr-309	884	63	allows	allow	VERB
ftr-309	884	64	us	we	PRON
ftr-309	884	65	to	to	PART
ftr-309	884	66	identify	identify	VERB
ftr-309	884	67	which	which	DET
ftr-309	884	68	transactions	transaction	VERB
ftr-309	884	69	the	the	DET
ftr-309	884	70	drafters	drafter	NOUN
ftr-309	884	71	contemplated	contemplate	VERB
ftr-309	884	72	in	in	ADP
ftr-309	884	73	designing	design	VERB
ftr-309	884	74	the	the	DET
ftr-309	884	75	simple	simple	ADJ
ftr-309	884	76	rules	rule	NOUN
ftr-309	884	77	and	and	CCONJ
ftr-309	884	78	which	which	PRON
ftr-309	884	79	they	they	PRON
ftr-309	884	80	did	do	VERB
ftr-309	884	81	not	not	PART
ftr-309	884	82	;	;	PUNCT
ftr-309	884	83	that	that	PRON
ftr-309	884	84	is	is	ADV
ftr-309	884	85	,	,	PUNCT
ftr-309	884	86	which	which	DET
ftr-309	884	87	transactions	transaction	NOUN
ftr-309	884	88	were	be	AUX
ftr-309	884	89	sufficiently	sufficiently	ADV
ftr-309	884	90	common	common	ADJ
ftr-309	884	91	to	to	PART
ftr-309	884	92	be	be	AUX
ftr-309	884	93	considered	consider	VERB
ftr-309	884	94	when	when	SCONJ
ftr-309	884	95	the	the	DET
ftr-309	884	96	law	law	NOUN
ftr-309	884	97	was	be	AUX
ftr-309	884	98	promulgated	promulgate	VERB
ftr-309	884	99	.	.	PUNCT
ftr-309	884	100	"	"	PUNCT
ftr-309	884	101	)	)	PUNCT
ftr-309	884	102	.	.	PUNCT
ftr-309	885	1	along	along	ADP
ftr-309	885	2	similar	similar	ADJ
ftr-309	885	3	lines	line	NOUN
ftr-309	885	4	,	,	PUNCT
ftr-309	885	5	others	other	NOUN
ftr-309	885	6	have	have	AUX
ftr-309	885	7	observed	observe	VERB
ftr-309	885	8	that	that	SCONJ
ftr-309	885	9	legislative	legislative	ADJ
ftr-309	885	10	intent	intent	NOUN
ftr-309	885	11	or	or	CCONJ
ftr-309	885	12	purpose	purpose	NOUN
ftr-309	885	13	is	be	AUX
ftr-309	885	14	relevant	relevant	ADJ
ftr-309	885	15	for	for	ADP
ftr-309	885	16	purposes	purpose	NOUN
ftr-309	885	17	of	of	ADP
ftr-309	885	18	determining	determine	VERB
ftr-309	885	19	whether	whether	SCONJ
ftr-309	885	20	a	a	DET
ftr-309	885	21	transaction	transaction	NOUN
ftr-309	885	22	is	be	AUX
ftr-309	885	23	a	a	DET
ftr-309	885	24	tax	tax	NOUN
ftr-309	885	25	shelter	shelter	NOUN
ftr-309	885	26	,	,	PUNCT
ftr-309	885	27	is	be	AUX
ftr-309	885	28	abusive	abusive	ADJ
ftr-309	885	29	,	,	PUNCT
ftr-309	885	30	or	or	CCONJ
ftr-309	885	31	otherwise	otherwise	ADV
ftr-309	885	32	is	be	AUX
ftr-309	885	33	subject	subject	ADJ
ftr-309	885	34	to	to	ADP
ftr-309	885	35	challenge	challenge	NOUN
ftr-309	885	36	.	.	PUNCT
ftr-309	886	1	see	see	VERB
ftr-309	886	2	,	,	PUNCT
ftr-309	886	3	e.g.	e.g.	ADV
ftr-309	886	4	,	,	PUNCT
ftr-309	886	5	joseph	joseph	PROPN
ftr-309	886	6	bankman	bankman	PROPN
ftr-309	886	7	,	,	PUNCT
ftr-309	886	8	the	the	DET
ftr-309	886	9	economic	economic	ADJ
ftr-309	886	10	substance	substance	NOUN
ftr-309	886	11	doctrine	doctrine	NOUN
ftr-309	886	12	,	,	PUNCT
ftr-309	886	13	74	74	NUM
ftr-309	886	14	s.	s.	PROPN
ftr-309	886	15	cal	cal	PROPN
ftr-309	886	16	.	.	PUNCT
ftr-309	887	1	l.	l.	PROPN
ftr-309	887	2	rev	rev	PROPN
ftr-309	887	3	.	.	PROPN
ftr-309	887	4	5	5	NUM
ftr-309	887	5	,	,	PUNCT
ftr-309	887	6	13	13	NUM
ftr-309	887	7	-	-	SYM
ftr-309	887	8	15	15	NUM
ftr-309	887	9	(	(	PUNCT
ftr-309	887	10	2000	2000	NUM
ftr-309	887	11	)	)	PUNCT
ftr-309	887	12	;	;	PUNCT
ftr-309	887	13	joseph	joseph	PROPN
ftr-309	887	14	191	191	NUM
ftr-309	887	15	florida	florida	PROPN
ftr-309	887	16	tax	tax	NOUN
ftr-309	887	17	review	review	NOUN
ftr-309	887	18	applying	apply	VERB
ftr-309	887	19	these	these	DET
ftr-309	887	20	general	general	ADJ
ftr-309	887	21	ideas	idea	NOUN
ftr-309	887	22	to	to	ADP
ftr-309	887	23	the	the	DET
ftr-309	887	24	partnership	partnership	NOUN
ftr-309	887	25	tax	tax	NOUN
ftr-309	887	26	allocation	allocation	NOUN
ftr-309	887	27	rules	rule	NOUN
ftr-309	887	28	leads	lead	VERB
ftr-309	887	29	to	to	ADP
ftr-309	887	30	the	the	DET
ftr-309	887	31	conclusion	conclusion	NOUN
ftr-309	887	32	that	that	SCONJ
ftr-309	887	33	the	the	DET
ftr-309	887	34	irs	irs	PROPN
ftr-309	887	35	and	and	CCONJ
ftr-309	887	36	the	the	DET
ftr-309	887	37	courts	court	NOUN
ftr-309	887	38	should	should	AUX
ftr-309	887	39	rely	rely	VERB
ftr-309	887	40	on	on	ADP
ftr-309	887	41	standards	standard	NOUN
ftr-309	887	42	when	when	SCONJ
ftr-309	887	43	partners	partner	NOUN
ftr-309	887	44	are	be	AUX
ftr-309	887	45	related	relate	VERB
ftr-309	887	46	because	because	SCONJ
ftr-309	887	47	the	the	DET
ftr-309	887	48	existing	exist	VERB
ftr-309	887	49	rules	rule	NOUN
ftr-309	887	50	,	,	PUNCT
ftr-309	887	51	implicitly	implicitly	ADV
ftr-309	887	52	,	,	PUNCT
ftr-309	887	53	assume	assume	VERB
ftr-309	887	54	that	that	SCONJ
ftr-309	887	55	partners	partner	NOUN
ftr-309	887	56	are	be	AUX
ftr-309	887	57	unrelated	unrelated	ADJ
ftr-309	887	58	and	and	CCONJ
ftr-309	887	59	have	have	AUX
ftr-309	887	60	opposing	oppose	VERB
ftr-309	887	61	economic	economic	ADJ
ftr-309	887	62	interests.143	interests.143	NOUN
ftr-309	887	63	in	in	ADP
ftr-309	887	64	the	the	DET
ftr-309	887	65	case	case	NOUN
ftr-309	887	66	of	of	ADP
ftr-309	887	67	blackstone	blackstone	NOUN
ftr-309	887	68	group	group	PROPN
ftr-309	887	69	lp	lp	PROPN
ftr-309	887	70	,	,	PUNCT
ftr-309	887	71	and	and	CCONJ
ftr-309	887	72	other	other	ADJ
ftr-309	887	73	partnerships	partnership	NOUN
ftr-309	887	74	formed	form	VERB
ftr-309	887	75	by	by	ADP
ftr-309	887	76	related	related	ADJ
ftr-309	887	77	partners	partner	NOUN
ftr-309	887	78	,	,	PUNCT
ftr-309	887	79	the	the	DET
ftr-309	887	80	irs	irs	PROPN
ftr-309	887	81	could	could	AUX
ftr-309	887	82	rely	rely	VERB
ftr-309	887	83	on	on	ADP
ftr-309	887	84	a	a	DET
ftr-309	887	85	number	number	NOUN
ftr-309	887	86	of	of	ADP
ftr-309	887	87	standards	standard	NOUN
ftr-309	887	88	to	to	PART
ftr-309	887	89	challenge	challenge	VERB
ftr-309	887	90	the	the	DET
ftr-309	887	91	claimed	claim	VERB
ftr-309	887	92	results	result	NOUN
ftr-309	887	93	.	.	PUNCT
ftr-309	888	1	144	144	NUM
ftr-309	888	2	bankman	bankman	NOUN
ftr-309	888	3	,	,	PUNCT
ftr-309	888	4	the	the	DET
ftr-309	888	5	new	new	ADJ
ftr-309	888	6	market	market	NOUN
ftr-309	888	7	in	in	ADP
ftr-309	888	8	corporate	corporate	ADJ
ftr-309	888	9	tax	tax	NOUN
ftr-309	888	10	shelters	shelter	NOUN
ftr-309	888	11	,	,	PUNCT
ftr-309	888	12	83	83	NUM
ftr-309	888	13	tax	tax	NOUN
ftr-309	888	14	notes	note	NOUN
ftr-309	888	15	1775	1775	NUM
ftr-309	888	16	,	,	PUNCT
ftr-309	888	17	1787	1787	NUM
ftr-309	888	18	(	(	PUNCT
ftr-309	888	19	june	june	PROPN
ftr-309	888	20	21	21	NUM
ftr-309	888	21	,	,	PUNCT
ftr-309	888	22	1999	1999	NUM
ftr-309	888	23	)	)	PUNCT
ftr-309	888	24	;	;	PUNCT
ftr-309	888	25	joshua	joshua	PROPN
ftr-309	888	26	d.	d.	PROPN
ftr-309	888	27	blank	blank	PROPN
ftr-309	888	28	,	,	PUNCT
ftr-309	888	29	what	what	PRON
ftr-309	888	30	's	be	AUX
ftr-309	888	31	wrong	wrong	ADJ
ftr-309	888	32	with	with	ADP
ftr-309	888	33	shaming	shame	VERB
ftr-309	888	34	corporate	corporate	ADJ
ftr-309	888	35	tax	tax	NOUN
ftr-309	888	36	abuse	abuse	NOUN
ftr-309	888	37	,	,	PUNCT
ftr-309	888	38	62	62	NUM
ftr-309	888	39	tax	tax	NOUN
ftr-309	888	40	l.	l.	PROPN
ftr-309	888	41	rev	rev	PROPN
ftr-309	888	42	.	.	PROPN
ftr-309	889	1	539	539	NUM
ftr-309	889	2	,	,	PUNCT
ftr-309	889	3	539	539	NUM
ftr-309	889	4	(	(	PUNCT
ftr-309	889	5	2009	2009	NUM
ftr-309	889	6	)	)	PUNCT
ftr-309	889	7	;	;	PUNCT
ftr-309	889	8	sarah	sarah	PROPN
ftr-309	889	9	b.	b.	PROPN
ftr-309	889	10	lawksy	lawksy	PROPN
ftr-309	889	11	,	,	PUNCT
ftr-309	889	12	probably	probably	ADV
ftr-309	889	13	?	?	PUNCT
ftr-309	890	1	understanding	understand	VERB
ftr-309	890	2	tax	tax	NOUN
ftr-309	890	3	law	law	NOUN
ftr-309	890	4	's	's	PART
ftr-309	890	5	uncertainty	uncertainty	NOUN
ftr-309	890	6	,	,	PUNCT
ftr-309	890	7	157	157	NUM
ftr-309	890	8	u.	u.	PROPN
ftr-309	890	9	pa	pa	PROPN
ftr-309	890	10	.	.	PROPN
ftr-309	890	11	l.	l.	PROPN
ftr-309	890	12	rev	rev	PROPN
ftr-309	890	13	.	.	PROPN
ftr-309	890	14	1017	1017	NUM
ftr-309	890	15	,	,	PUNCT
ftr-309	890	16	1032	1032	NUM
ftr-309	890	17	(	(	PUNCT
ftr-309	890	18	2009	2009	NUM
ftr-309	890	19	)	)	PUNCT
ftr-309	890	20	;	;	PUNCT
ftr-309	890	21	leandra	leandra	PROPN
ftr-309	890	22	lederman	lederman	PROPN
ftr-309	890	23	,	,	PUNCT
ftr-309	890	24	w(h)ither	w(h)ither	ADJ
ftr-309	890	25	economic	economic	ADJ
ftr-309	890	26	substance	substance	NOUN
ftr-309	890	27	?	?	PUNCT
ftr-309	890	28	,	,	PUNCT
ftr-309	890	29	95	95	NUM
ftr-309	890	30	iowa	iowa	PROPN
ftr-309	890	31	l.	l.	PROPN
ftr-309	890	32	rev	rev	PROPN
ftr-309	890	33	.	.	PROPN
ftr-309	890	34	389	389	NUM
ftr-309	890	35	,	,	PUNCT
ftr-309	890	36	396	396	NUM
ftr-309	890	37	-	-	SYM
ftr-309	890	38	97	97	NUM
ftr-309	890	39	(	(	PUNCT
ftr-309	890	40	2010	2010	NUM
ftr-309	890	41	)	)	PUNCT
ftr-309	891	1	[	[	X
ftr-309	891	2	hereinafter	hereinafter	NOUN
ftr-309	891	3	lederman	lederman	NOUN
ftr-309	891	4	,	,	PUNCT
ftr-309	891	5	w(h)ither	w(h)ither	ADV
ftr-309	891	6	]	]	PUNCT
ftr-309	891	7	;	;	PUNCT
ftr-309	891	8	michael	michael	PROPN
ftr-309	891	9	l.	l.	PROPN
ftr-309	891	10	schler	schler	PROPN
ftr-309	891	11	,	,	PUNCT
ftr-309	891	12	ten	ten	NUM
ftr-309	891	13	more	more	ADJ
ftr-309	891	14	truths	truth	NOUN
ftr-309	891	15	about	about	ADP
ftr-309	891	16	tax	tax	NOUN
ftr-309	891	17	shelters	shelter	NOUN
ftr-309	891	18	:	:	PUNCT
ftr-309	891	19	the	the	DET
ftr-309	891	20	problem	problem	NOUN
ftr-309	891	21	,	,	PUNCT
ftr-309	891	22	possible	possible	ADJ
ftr-309	891	23	solutions	solution	NOUN
ftr-309	891	24	,	,	PUNCT
ftr-309	891	25	and	and	CCONJ
ftr-309	891	26	a	a	DET
ftr-309	891	27	reply	reply	NOUN
ftr-309	891	28	to	to	ADP
ftr-309	891	29	professor	professor	NOUN
ftr-309	891	30	weisbach	weisbach	NOUN
ftr-309	891	31	,	,	PUNCT
ftr-309	891	32	55	55	NUM
ftr-309	891	33	tax	tax	NOUN
ftr-309	891	34	l.	l.	PROPN
ftr-309	891	35	rev	rev	PROPN
ftr-309	891	36	.	.	PROPN
ftr-309	891	37	325	325	NUM
ftr-309	891	38	,	,	PUNCT
ftr-309	891	39	331	331	NUM
ftr-309	891	40	(	(	PUNCT
ftr-309	891	41	2002	2002	NUM
ftr-309	891	42	)	)	PUNCT
ftr-309	892	1	[	[	X
ftr-309	892	2	hereinafter	hereinafter	NOUN
ftr-309	892	3	schler	schler	NOUN
ftr-309	892	4	,	,	PUNCT
ftr-309	892	5	ten	ten	NUM
ftr-309	892	6	more	more	ADJ
ftr-309	892	7	truths	truth	NOUN
ftr-309	892	8	]	]	PUNCT
ftr-309	892	9	.	.	PUNCT
ftr-309	893	1	it	it	PRON
ftr-309	893	2	should	should	AUX
ftr-309	893	3	be	be	AUX
ftr-309	893	4	noted	note	VERB
ftr-309	893	5	that	that	SCONJ
ftr-309	893	6	this	this	DET
ftr-309	893	7	view	view	NOUN
ftr-309	893	8	of	of	ADP
ftr-309	893	9	how	how	SCONJ
ftr-309	893	10	to	to	PART
ftr-309	893	11	interpret	interpret	VERB
ftr-309	893	12	standards	standard	NOUN
ftr-309	893	13	has	have	AUX
ftr-309	893	14	not	not	PART
ftr-309	893	15	always	always	ADV
ftr-309	893	16	convinced	convinced	ADJ
ftr-309	893	17	courts	court	NOUN
ftr-309	893	18	.	.	PUNCT
ftr-309	894	1	see	see	VERB
ftr-309	894	2	,	,	PUNCT
ftr-309	894	3	e.g.	e.g.	ADV
ftr-309	894	4	,	,	PUNCT
ftr-309	894	5	marvin	marvin	PROPN
ftr-309	894	6	a.	a.	PROPN
ftr-309	894	7	chirelstein	chirelstein	PROPN
ftr-309	894	8	&	&	CCONJ
ftr-309	894	9	lawrence	lawrence	PROPN
ftr-309	894	10	a.	a.	PROPN
ftr-309	894	11	zelenak	zelenak	PROPN
ftr-309	894	12	,	,	PUNCT
ftr-309	894	13	tax	tax	NOUN
ftr-309	894	14	shelters	shelter	NOUN
ftr-309	894	15	and	and	CCONJ
ftr-309	894	16	the	the	DET
ftr-309	894	17	search	search	NOUN
ftr-309	894	18	for	for	ADP
ftr-309	894	19	a	a	DET
ftr-309	894	20	silver	silver	ADJ
ftr-309	894	21	bullet	bullet	NOUN
ftr-309	894	22	,	,	PUNCT
ftr-309	894	23	105	105	NUM
ftr-309	894	24	colum	colum	NOUN
ftr-309	894	25	l.	l.	PROPN
ftr-309	894	26	rev	rev	PROPN
ftr-309	894	27	.	.	PROPN
ftr-309	894	28	1939	1939	NUM
ftr-309	894	29	,	,	PUNCT
ftr-309	894	30	1940	1940	NUM
ftr-309	894	31	(	(	PUNCT
ftr-309	894	32	2005	2005	NUM
ftr-309	894	33	)	)	PUNCT
ftr-309	894	34	(	(	PUNCT
ftr-309	894	35	"	"	PUNCT
ftr-309	894	36	recent	recent	ADJ
ftr-309	894	37	litigation	litigation	NOUN
ftr-309	894	38	between	between	ADP
ftr-309	894	39	taxpayers	taxpayer	NOUN
ftr-309	894	40	and	and	CCONJ
ftr-309	894	41	the	the	DET
ftr-309	894	42	government	government	NOUN
ftr-309	894	43	has	have	AUX
ftr-309	894	44	had	have	AUX
ftr-309	894	45	mixed	mixed	ADJ
ftr-309	894	46	results	result	NOUN
ftr-309	894	47	,	,	PUNCT
ftr-309	894	48	with	with	ADP
ftr-309	894	49	taxpayers	taxpayer	NOUN
ftr-309	894	50	winning	win	VERB
ftr-309	894	51	in	in	ADP
ftr-309	894	52	more	more	ADJ
ftr-309	894	53	than	than	ADP
ftr-309	894	54	a	a	DET
ftr-309	894	55	few	few	ADJ
ftr-309	894	56	instances	instance	NOUN
ftr-309	894	57	by	by	ADP
ftr-309	894	58	persuading	persuade	VERB
ftr-309	894	59	the	the	DET
ftr-309	894	60	courts	court	NOUN
ftr-309	894	61	that	that	SCONJ
ftr-309	894	62	'	'	PUNCT
ftr-309	894	63	rules	rule	NOUN
ftr-309	894	64	are	be	AUX
ftr-309	894	65	rules	rule	NOUN
ftr-309	894	66	'	'	PUNCT
ftr-309	894	67	and	and	CCONJ
ftr-309	894	68	that	that	SCONJ
ftr-309	894	69	congress	congress	PROPN
ftr-309	894	70	alone	alone	ADV
ftr-309	894	71	,	,	PUNCT
ftr-309	894	72	and	and	CCONJ
ftr-309	894	73	not	not	PART
ftr-309	894	74	the	the	DET
ftr-309	894	75	courts	court	NOUN
ftr-309	894	76	,	,	PUNCT
ftr-309	894	77	must	must	AUX
ftr-309	894	78	patch	patch	VERB
ftr-309	894	79	the	the	DET
ftr-309	894	80	leaky	leaky	ADJ
ftr-309	894	81	tire	tire	NOUN
ftr-309	894	82	if	if	SCONJ
ftr-309	894	83	congress	congress	PROPN
ftr-309	894	84	thinks	think	VERB
ftr-309	894	85	a	a	DET
ftr-309	894	86	patch	patch	NOUN
ftr-309	894	87	is	be	AUX
ftr-309	894	88	needed	need	VERB
ftr-309	894	89	.	.	PUNCT
ftr-309	895	1	"	"	PUNCT
ftr-309	895	2	)	)	PUNCT
ftr-309	895	3	;	;	PUNCT
ftr-309	895	4	david	david	PROPN
ftr-309	895	5	a.	a.	PROPN
ftr-309	895	6	weisbach	weisbach	PROPN
ftr-309	895	7	,	,	PUNCT
ftr-309	895	8	the	the	DET
ftr-309	895	9	failure	failure	NOUN
ftr-309	895	10	of	of	ADP
ftr-309	895	11	disclosure	disclosure	NOUN
ftr-309	895	12	as	as	ADP
ftr-309	895	13	an	an	DET
ftr-309	895	14	approach	approach	NOUN
ftr-309	895	15	to	to	ADP
ftr-309	895	16	shelters	shelter	NOUN
ftr-309	895	17	,	,	PUNCT
ftr-309	895	18	54	54	NUM
ftr-309	895	19	smu	smu	PROPN
ftr-309	895	20	l.	l.	PROPN
ftr-309	895	21	rev	rev	PROPN
ftr-309	895	22	.	.	PROPN
ftr-309	895	23	73	73	NUM
ftr-309	895	24	,	,	PUNCT
ftr-309	895	25	77	77	NUM
ftr-309	895	26	(	(	PUNCT
ftr-309	895	27	2001	2001	NUM
ftr-309	895	28	)	)	PUNCT
ftr-309	895	29	.	.	PUNCT
ftr-309	896	1	143	143	X
ftr-309	896	2	.	.	PUNCT
ftr-309	897	1	for	for	ADP
ftr-309	897	2	purposes	purpose	NOUN
ftr-309	897	3	of	of	ADP
ftr-309	897	4	analyzing	analyze	VERB
ftr-309	897	5	the	the	DET
ftr-309	897	6	blackstone	blackstone	NOUN
ftr-309	897	7	group	group	NOUN
ftr-309	897	8	structure	structure	NOUN
ftr-309	897	9	,	,	PUNCT
ftr-309	897	10	it	it	PRON
ftr-309	897	11	is	be	AUX
ftr-309	897	12	not	not	PART
ftr-309	897	13	necessary	necessary	ADJ
ftr-309	897	14	to	to	PART
ftr-309	897	15	decide	decide	VERB
ftr-309	897	16	precisely	precisely	ADV
ftr-309	897	17	when	when	SCONJ
ftr-309	897	18	partners	partner	NOUN
ftr-309	897	19	should	should	AUX
ftr-309	897	20	be	be	AUX
ftr-309	897	21	considered	consider	VERB
ftr-309	897	22	"	"	PUNCT
ftr-309	897	23	related	relate	VERB
ftr-309	897	24	"	"	PUNCT
ftr-309	897	25	because	because	SCONJ
ftr-309	897	26	,	,	PUNCT
ftr-309	897	27	under	under	ADP
ftr-309	897	28	any	any	DET
ftr-309	897	29	plausible	plausible	ADJ
ftr-309	897	30	definition	definition	NOUN
ftr-309	897	31	,	,	PUNCT
ftr-309	897	32	the	the	DET
ftr-309	897	33	partners	partner	NOUN
ftr-309	897	34	of	of	ADP
ftr-309	897	35	blackstone	blackstone	NOUN
ftr-309	897	36	group	group	NOUN
ftr-309	897	37	are	be	AUX
ftr-309	897	38	"	"	PUNCT
ftr-309	897	39	related	related	ADJ
ftr-309	897	40	.	.	PUNCT
ftr-309	897	41	"	"	PUNCT
ftr-309	898	1	this	this	PRON
ftr-309	898	2	is	be	AUX
ftr-309	898	3	true	true	ADJ
ftr-309	898	4	because	because	SCONJ
ftr-309	898	5	two	two	NUM
ftr-309	898	6	of	of	ADP
ftr-309	898	7	blackstone	blackstone	NOUN
ftr-309	898	8	group	group	NOUN
ftr-309	898	9	's	's	PART
ftr-309	898	10	three	three	NUM
ftr-309	898	11	partners	partner	NOUN
ftr-309	898	12	are	be	AUX
ftr-309	898	13	wholly	wholly	ADV
ftr-309	898	14	-	-	PUNCT
ftr-309	898	15	owned	own	VERB
ftr-309	898	16	by	by	ADP
ftr-309	898	17	the	the	DET
ftr-309	898	18	third	third	ADJ
ftr-309	898	19	partner	partner	NOUN
ftr-309	898	20	.	.	PUNCT
ftr-309	899	1	this	this	DET
ftr-309	899	2	article	article	NOUN
ftr-309	899	3	does	do	AUX
ftr-309	899	4	not	not	PART
ftr-309	899	5	address	address	VERB
ftr-309	899	6	when	when	SCONJ
ftr-309	899	7	allocations	allocation	NOUN
ftr-309	899	8	among	among	ADP
ftr-309	899	9	less	less	ADV
ftr-309	899	10	closely	closely	ADV
ftr-309	899	11	related	relate	VERB
ftr-309	899	12	entities	entity	NOUN
ftr-309	899	13	should	should	AUX
ftr-309	899	14	be	be	AUX
ftr-309	899	15	challenged	challenge	VERB
ftr-309	899	16	nor	nor	CCONJ
ftr-309	899	17	does	do	AUX
ftr-309	899	18	this	this	DET
ftr-309	899	19	article	article	NOUN
ftr-309	899	20	address	address	VERB
ftr-309	899	21	when	when	SCONJ
ftr-309	899	22	allocations	allocation	NOUN
ftr-309	899	23	among	among	ADP
ftr-309	899	24	family	family	NOUN
ftr-309	899	25	members	member	NOUN
ftr-309	899	26	should	should	AUX
ftr-309	899	27	be	be	AUX
ftr-309	899	28	challenged	challenge	VERB
ftr-309	899	29	.	.	PUNCT
ftr-309	900	1	in	in	ADP
ftr-309	900	2	the	the	DET
ftr-309	900	3	case	case	NOUN
ftr-309	900	4	of	of	ADP
ftr-309	900	5	family	family	NOUN
ftr-309	900	6	members	member	NOUN
ftr-309	900	7	,	,	PUNCT
ftr-309	900	8	the	the	DET
ftr-309	900	9	irs	irs	PROPN
ftr-309	900	10	might	might	AUX
ftr-309	900	11	argue	argue	VERB
ftr-309	900	12	that	that	SCONJ
ftr-309	900	13	,	,	PUNCT
ftr-309	900	14	in	in	ADP
ftr-309	900	15	some	some	DET
ftr-309	900	16	situations	situation	NOUN
ftr-309	900	17	,	,	PUNCT
ftr-309	900	18	family	family	NOUN
ftr-309	900	19	members	member	NOUN
ftr-309	900	20	could	could	AUX
ftr-309	900	21	be	be	AUX
ftr-309	900	22	treated	treat	VERB
ftr-309	900	23	as	as	ADP
ftr-309	900	24	one	one	NUM
ftr-309	900	25	partner	partner	NOUN
ftr-309	900	26	when	when	SCONJ
ftr-309	900	27	applying	apply	VERB
ftr-309	900	28	the	the	DET
ftr-309	900	29	substantiality	substantiality	NOUN
ftr-309	900	30	tests	test	NOUN
ftr-309	900	31	.	.	PUNCT
ftr-309	901	1	see	see	VERB
ftr-309	901	2	supra	supra	PROPN
ftr-309	901	3	note	note	PROPN
ftr-309	901	4	127	127	NUM
ftr-309	901	5	.	.	PUNCT
ftr-309	902	1	furthermore	furthermore	ADV
ftr-309	902	2	,	,	PUNCT
ftr-309	902	3	in	in	ADP
ftr-309	902	4	some	some	DET
ftr-309	902	5	cases	case	NOUN
ftr-309	902	6	allocations	allocation	NOUN
ftr-309	902	7	among	among	ADP
ftr-309	902	8	family	family	NOUN
ftr-309	902	9	members	member	NOUN
ftr-309	902	10	could	could	AUX
ftr-309	902	11	be	be	AUX
ftr-309	902	12	subject	subject	ADJ
ftr-309	902	13	to	to	ADP
ftr-309	902	14	section	section	NOUN
ftr-309	902	15	704(e	704(e	PROPN
ftr-309	902	16	)	)	PUNCT
ftr-309	902	17	.	.	PUNCT
ftr-309	903	1	see	see	VERB
ftr-309	903	2	supra	supra	PROPN
ftr-309	903	3	note	note	PROPN
ftr-309	903	4	87	87	NUM
ftr-309	903	5	.	.	PUNCT
ftr-309	904	1	144	144	NUM
ftr-309	904	2	.	.	PUNCT
ftr-309	905	1	for	for	ADP
ftr-309	905	2	instance	instance	NOUN
ftr-309	905	3	,	,	PUNCT
ftr-309	905	4	the	the	DET
ftr-309	905	5	irs	irs	PROPN
ftr-309	905	6	might	might	AUX
ftr-309	905	7	argue	argue	VERB
ftr-309	905	8	that	that	SCONJ
ftr-309	905	9	related	related	ADJ
ftr-309	905	10	partners	partner	NOUN
ftr-309	905	11	should	should	AUX
ftr-309	905	12	be	be	AUX
ftr-309	905	13	treated	treat	VERB
ftr-309	905	14	as	as	ADP
ftr-309	905	15	one	one	NUM
ftr-309	905	16	partner	partner	NOUN
ftr-309	905	17	when	when	SCONJ
ftr-309	905	18	applying	apply	VERB
ftr-309	905	19	the	the	DET
ftr-309	905	20	substantial	substantial	ADJ
ftr-309	905	21	economic	economic	ADJ
ftr-309	905	22	effect	effect	NOUN
ftr-309	905	23	test	test	NOUN
ftr-309	905	24	.	.	PUNCT
ftr-309	906	1	see	see	VERB
ftr-309	906	2	supra	supra	PROPN
ftr-309	906	3	note	note	PROPN
ftr-309	906	4	127	127	NUM
ftr-309	906	5	.	.	PUNCT
ftr-309	907	1	the	the	DET
ftr-309	907	2	irs	irs	PROPN
ftr-309	907	3	could	could	AUX
ftr-309	907	4	also	also	ADV
ftr-309	907	5	invoke	invoke	VERB
ftr-309	907	6	the	the	DET
ftr-309	907	7	partnership	partnership	NOUN
ftr-309	907	8	anti	anti	ADJ
ftr-309	907	9	-	-	ADJ
ftr-309	907	10	abuse	abuse	ADJ
ftr-309	907	11	rule	rule	NOUN
ftr-309	907	12	contained	contain	VERB
ftr-309	907	13	in	in	ADP
ftr-309	907	14	regulations	regulation	NOUN
ftr-309	907	15	section	section	NOUN
ftr-309	907	16	1.701	1.701	NUM
ftr-309	907	17	-	-	SYM
ftr-309	907	18	2	2	NUM
ftr-309	907	19	.	.	PUNCT
ftr-309	908	1	for	for	ADP
ftr-309	908	2	further	further	ADJ
ftr-309	908	3	discussion	discussion	NOUN
ftr-309	908	4	of	of	ADP
ftr-309	908	5	the	the	DET
ftr-309	908	6	partnership	partnership	NOUN
ftr-309	908	7	anti	anti	ADJ
ftr-309	908	8	-	-	ADJ
ftr-309	908	9	abuse	abuse	ADJ
ftr-309	908	10	rule	rule	NOUN
ftr-309	908	11	,	,	PUNCT
ftr-309	908	12	see	see	VERB
ftr-309	908	13	monroe	monroe	PROPN
ftr-309	908	14	,	,	PUNCT
ftr-309	908	15	what	what	PRON
ftr-309	908	16	's	be	AUX
ftr-309	908	17	in	in	ADP
ftr-309	908	18	a	a	DET
ftr-309	908	19	name	name	NOUN
ftr-309	908	20	,	,	PUNCT
ftr-309	908	21	supra	supra	PROPN
ftr-309	908	22	note	note	NOUN
ftr-309	908	23	140	140	NUM
ftr-309	908	24	.	.	PUNCT
ftr-309	909	1	the	the	DET
ftr-309	909	2	partnership	partnership	NOUN
ftr-309	909	3	anti	anti	ADJ
ftr-309	909	4	-	-	ADJ
ftr-309	909	5	abuse	abuse	ADJ
ftr-309	909	6	rule	rule	NOUN
ftr-309	909	7	provides	provide	VERB
ftr-309	909	8	:	:	PUNCT
ftr-309	909	9	[	[	X
ftr-309	909	10	i]f	i]f	ADP
ftr-309	909	11	a	a	DET
ftr-309	909	12	partnership	partnership	NOUN
ftr-309	909	13	is	be	AUX
ftr-309	909	14	formed	form	VERB
ftr-309	909	15	or	or	CCONJ
ftr-309	909	16	availed	avail	VERB
ftr-309	909	17	of	of	ADP
ftr-309	909	18	in	in	ADP
ftr-309	909	19	connection	connection	NOUN
ftr-309	909	20	with	with	ADP
ftr-309	909	21	a	a	DET
ftr-309	909	22	transaction	transaction	NOUN
ftr-309	909	23	a	a	DET
ftr-309	909	24	principal	principal	ADJ
ftr-309	909	25	purpose	purpose	NOUN
ftr-309	909	26	of	of	ADP
ftr-309	909	27	which	which	PRON
ftr-309	909	28	is	be	AUX
ftr-309	909	29	to	to	PART
ftr-309	909	30	reduce	reduce	VERB
ftr-309	909	31	substantially	substantially	ADV
ftr-309	909	32	the	the	DET
ftr-309	909	33	present	present	ADJ
ftr-309	909	34	value	value	NOUN
ftr-309	909	35	of	of	ADP
ftr-309	909	36	the	the	DET
ftr-309	909	37	partners	partner	NOUN
ftr-309	909	38	'	'	PART
ftr-309	909	39	aggregate	aggregate	ADJ
ftr-309	909	40	federal	federal	ADJ
ftr-309	909	41	tax	tax	NOUN
ftr-309	909	42	liability	liability	NOUN
ftr-309	909	43	in	in	ADP
ftr-309	909	44	a	a	DET
ftr-309	909	45	manner	manner	NOUN
ftr-309	909	46	that	that	PRON
ftr-309	909	47	is	be	AUX
ftr-309	909	48	inconsistent	inconsistent	ADJ
ftr-309	909	49	with	with	ADP
ftr-309	909	50	the	the	DET
ftr-309	909	51	intent	intent	NOUN
ftr-309	909	52	of	of	ADP
ftr-309	909	53	[	[	PUNCT
ftr-309	909	54	the	the	DET
ftr-309	909	55	partnership	partnership	NOUN
ftr-309	909	56	tax	tax	NOUN
ftr-309	909	57	rules	rule	NOUN
ftr-309	909	58	]	]	PUNCT
ftr-309	909	59	,	,	PUNCT
ftr-309	909	60	the	the	DET
ftr-309	909	61	commissioner	commissioner	NOUN
ftr-309	909	62	can	can	AUX
ftr-309	909	63	recast	recast	VERB
ftr-309	909	64	the	the	DET
ftr-309	909	65	transaction	transaction	NOUN
ftr-309	909	66	for	for	ADP
ftr-309	909	67	federal	federal	ADJ
ftr-309	909	68	tax	tax	NOUN
ftr-309	909	69	purposes	purpose	NOUN
ftr-309	909	70	,	,	PUNCT
ftr-309	909	71	as	as	ADP
ftr-309	909	72	appropriate	appropriate	ADJ
ftr-309	909	73	to	to	PART
ftr-309	909	74	achieve	achieve	VERB
ftr-309	909	75	tax	tax	NOUN
ftr-309	909	76	results	result	NOUN
ftr-309	909	77	that	that	PRON
ftr-309	909	78	are	be	AUX
ftr-309	909	79	consistent	consistent	ADJ
ftr-309	909	80	with	with	ADP
ftr-309	909	81	the	the	DET
ftr-309	909	82	intent	intent	NOUN
ftr-309	909	83	of	of	ADP
ftr-309	909	84	[	[	PUNCT
ftr-309	909	85	the	the	DET
ftr-309	909	86	partnership	partnership	NOUN
ftr-309	909	87	tax	tax	NOUN
ftr-309	909	88	rules	rule	NOUN
ftr-309	909	89	]	]	PUNCT
ftr-309	909	90	....	....	PUNCT
ftr-309	910	1	192	192	NUM
ftr-309	911	1	[	[	X
ftr-309	911	2	vol	vol	NOUN
ftr-309	911	3	.	.	PUNCT
ftr-309	911	4	14:5	14:5	NUM
ftr-309	911	5	2013	2013	NUM
ftr-309	911	6	]	]	PUNCT
ftr-309	911	7	was	be	AUX
ftr-309	911	8	blackstone	blackstone	NOUN
ftr-309	911	9	's	's	PART
ftr-309	911	10	initial	initial	ADJ
ftr-309	911	11	public	public	ADJ
ftr-309	911	12	offering	offering	NOUN
ftr-309	911	13	too	too	ADV
ftr-309	911	14	good	good	ADJ
ftr-309	911	15	to	to	PART
ftr-309	911	16	be	be	AUX
ftr-309	911	17	true	true	ADJ
ftr-309	911	18	?	?	PUNCT
ftr-309	912	1	this	this	DET
ftr-309	912	2	article	article	NOUN
ftr-309	912	3	will	will	AUX
ftr-309	912	4	focus	focus	VERB
ftr-309	912	5	on	on	ADP
ftr-309	912	6	section	section	NOUN
ftr-309	912	7	482	482	NUM
ftr-309	912	8	particularly	particularly	ADV
ftr-309	912	9	because	because	SCONJ
ftr-309	912	10	it	it	PRON
ftr-309	912	11	represents	represent	VERB
ftr-309	912	12	the	the	DET
ftr-309	912	13	irs	irs	PROPN
ftr-309	912	14	's	's	PART
ftr-309	912	15	most	most	ADV
ftr-309	912	16	promising	promising	ADJ
ftr-309	912	17	grounds	ground	NOUN
ftr-309	912	18	for	for	ADP
ftr-309	912	19	challenging	challenge	VERB
ftr-309	912	20	the	the	DET
ftr-309	912	21	legitimacy	legitimacy	NOUN
ftr-309	912	22	of	of	ADP
ftr-309	912	23	the	the	DET
ftr-309	912	24	underlying	underlie	VERB
ftr-309	912	25	partnership	partnership	NOUN
ftr-309	912	26	's	's	PART
ftr-309	912	27	allocations.145	allocations.145	NOUN
ftr-309	912	28	regarding	regard	VERB
ftr-309	912	29	section	section	NOUN
ftr-309	912	30	482	482	NUM
ftr-309	912	31	,	,	PUNCT
ftr-309	912	32	the	the	DET
ftr-309	912	33	partnership	partnership	NOUN
ftr-309	912	34	tax	tax	NOUN
ftr-309	912	35	allocation	allocation	NOUN
ftr-309	912	36	rules	rule	NOUN
ftr-309	912	37	are	be	AUX
ftr-309	912	38	,	,	PUNCT
ftr-309	912	39	by	by	ADP
ftr-309	912	40	no	no	DET
ftr-309	912	41	means	mean	NOUN
ftr-309	912	42	,	,	PUNCT
ftr-309	912	43	the	the	DET
ftr-309	912	44	only	only	ADJ
ftr-309	912	45	tax	tax	NOUN
ftr-309	912	46	rules	rule	NOUN
ftr-309	912	47	that	that	PRON
ftr-309	912	48	work	work	VERB
ftr-309	912	49	most	most	ADV
ftr-309	912	50	effectively	effectively	ADV
ftr-309	912	51	when	when	SCONJ
ftr-309	912	52	parties	party	NOUN
ftr-309	912	53	have	have	AUX
ftr-309	912	54	opposing	oppose	VERB
ftr-309	912	55	economic	economic	ADJ
ftr-309	912	56	interests	interest	NOUN
ftr-309	912	57	.	.	PUNCT
ftr-309	913	1	tax	tax	NOUN
ftr-309	913	2	rules	rule	NOUN
ftr-309	913	3	,	,	PUNCT
ftr-309	913	4	generally	generally	ADV
ftr-309	913	5	,	,	PUNCT
ftr-309	913	6	function	function	VERB
ftr-309	913	7	best	well	ADV
ftr-309	913	8	in	in	ADP
ftr-309	913	9	a	a	DET
ftr-309	913	10	setting	setting	NOUN
ftr-309	913	11	involving	involve	VERB
ftr-309	913	12	unrelated	unrelated	ADJ
ftr-309	913	13	parties	party	NOUN
ftr-309	913	14	with	with	ADP
ftr-309	913	15	opposing	oppose	VERB
ftr-309	913	16	economic	economic	ADJ
ftr-309	913	17	interests	interest	NOUN
ftr-309	913	18	dealing	deal	VERB
ftr-309	913	19	at	at	ADP
ftr-309	913	20	arm	arm	NOUN
ftr-309	913	21	's	's	PART
ftr-309	913	22	length	length	NOUN
ftr-309	913	23	.	.	PUNCT
ftr-309	914	1	for	for	ADP
ftr-309	914	2	example	example	NOUN
ftr-309	914	3	,	,	PUNCT
ftr-309	914	4	when	when	SCONJ
ftr-309	914	5	a	a	DET
ftr-309	914	6	person	person	NOUN
ftr-309	914	7	or	or	CCONJ
ftr-309	914	8	entity	entity	NOUN
ftr-309	914	9	sells	sell	VERB
ftr-309	914	10	property	property	NOUN
ftr-309	914	11	to	to	ADP
ftr-309	914	12	another	another	DET
ftr-309	914	13	person	person	NOUN
ftr-309	914	14	or	or	CCONJ
ftr-309	914	15	entity	entity	NOUN
ftr-309	914	16	,	,	PUNCT
ftr-309	914	17	the	the	DET
ftr-309	914	18	tax	tax	NOUN
ftr-309	914	19	gain	gain	NOUN
ftr-309	914	20	or	or	CCONJ
ftr-309	914	21	tax	tax	NOUN
ftr-309	914	22	loss	loss	NOUN
ftr-309	914	23	recognized	recognize	VERB
ftr-309	914	24	by	by	ADP
ftr-309	914	25	the	the	DET
ftr-309	914	26	seller	seller	NOUN
ftr-309	914	27	generally	generally	ADV
ftr-309	914	28	depends	depend	VERB
ftr-309	914	29	on	on	ADP
ftr-309	914	30	the	the	DET
ftr-309	914	31	amount	amount	NOUN
ftr-309	914	32	received	receive	VERB
ftr-309	914	33	from	from	ADP
ftr-309	914	34	the	the	DET
ftr-309	914	35	buyer	buyer	NOUN
ftr-309	914	36	.	.	PUNCT
ftr-309	915	1	146	146	NUM
ftr-309	916	1	thus	thus	ADV
ftr-309	916	2	,	,	PUNCT
ftr-309	916	3	if	if	SCONJ
ftr-309	916	4	a	a	DET
ftr-309	916	5	seller	seller	NOUN
ftr-309	916	6	disposes	dispose	VERB
ftr-309	916	7	of	of	ADP
ftr-309	916	8	property	property	NOUN
ftr-309	916	9	for	for	ADP
ftr-309	916	10	a	a	DET
ftr-309	916	11	lower	low	ADJ
ftr-309	916	12	price	price	NOUN
ftr-309	916	13	,	,	PUNCT
ftr-309	916	14	the	the	DET
ftr-309	916	15	seller	seller	NOUN
ftr-309	916	16	will	will	AUX
ftr-309	916	17	recognize	recognize	VERB
ftr-309	916	18	less	less	ADJ
ftr-309	916	19	tax	tax	NOUN
ftr-309	916	20	gain	gain	NOUN
ftr-309	916	21	(	(	PUNCT
ftr-309	916	22	or	or	CCONJ
ftr-309	916	23	more	more	ADJ
ftr-309	916	24	tax	tax	NOUN
ftr-309	916	25	loss	loss	NOUN
ftr-309	916	26	)	)	PUNCT
ftr-309	916	27	than	than	ADP
ftr-309	916	28	the	the	DET
ftr-309	916	29	amount	amount	NOUN
ftr-309	916	30	the	the	DET
ftr-309	916	31	seller	seller	NOUN
ftr-309	916	32	would	would	AUX
ftr-309	916	33	recognize	recognize	VERB
ftr-309	916	34	if	if	SCONJ
ftr-309	916	35	he	he	PRON
ftr-309	916	36	or	or	CCONJ
ftr-309	916	37	she	she	PRON
ftr-309	916	38	sold	sell	VERB
ftr-309	916	39	the	the	DET
ftr-309	916	40	property	property	NOUN
ftr-309	916	41	for	for	ADP
ftr-309	916	42	a	a	DET
ftr-309	916	43	higher	high	ADJ
ftr-309	916	44	price	price	NOUN
ftr-309	916	45	.	.	PUNCT
ftr-309	917	1	this	this	DET
ftr-309	917	2	tax	tax	NOUN
ftr-309	917	3	treatment	treatment	NOUN
ftr-309	917	4	relies	rely	VERB
ftr-309	917	5	on	on	ADP
ftr-309	917	6	the	the	DET
ftr-309	917	7	assumption	assumption	NOUN
ftr-309	917	8	that	that	SCONJ
ftr-309	917	9	the	the	DET
ftr-309	917	10	buyer	buyer	NOUN
ftr-309	917	11	and	and	CCONJ
ftr-309	917	12	seller	seller	NOUN
ftr-309	917	13	have	have	AUX
ftr-309	917	14	opposing	oppose	VERB
ftr-309	917	15	economic	economic	ADJ
ftr-309	917	16	interests	interest	NOUN
ftr-309	917	17	so	so	SCONJ
ftr-309	917	18	that	that	SCONJ
ftr-309	917	19	the	the	DET
ftr-309	917	20	price	price	NOUN
ftr-309	917	21	paid	pay	VERB
ftr-309	917	22	reflects	reflect	VERB
ftr-309	917	23	economic	economic	ADJ
ftr-309	917	24	reality	reality	NOUN
ftr-309	917	25	.	.	PUNCT
ftr-309	918	1	assume	assume	VERB
ftr-309	918	2	,	,	PUNCT
ftr-309	918	3	instead	instead	ADV
ftr-309	918	4	,	,	PUNCT
ftr-309	918	5	the	the	DET
ftr-309	918	6	facts	fact	NOUN
ftr-309	918	7	of	of	ADP
ftr-309	918	8	the	the	DET
ftr-309	918	9	following	follow	VERB
ftr-309	918	10	example	example	NOUN
ftr-309	918	11	.	.	PUNCT
ftr-309	919	1	example	example	NOUN
ftr-309	920	1	5	5	NUM
ftr-309	920	2	.	.	PUNCT
ftr-309	920	3	a	a	DET
ftr-309	920	4	u.s	u.s	PROPN
ftr-309	920	5	.	.	PROPN
ftr-309	920	6	corporation	corporation	PROPN
ftr-309	920	7	(	(	PUNCT
ftr-309	920	8	uscorp	uscorp	PROPN
ftr-309	920	9	)	)	PUNCT
ftr-309	920	10	owns	own	VERB
ftr-309	920	11	100	100	NUM
ftr-309	920	12	percent	percent	NOUN
ftr-309	920	13	of	of	ADP
ftr-309	920	14	the	the	DET
ftr-309	920	15	stock	stock	NOUN
ftr-309	920	16	of	of	ADP
ftr-309	920	17	a	a	DET
ftr-309	920	18	non	non	ADJ
ftr-309	920	19	-	-	ADJ
ftr-309	920	20	u.s	u.s	ADJ
ftr-309	920	21	.	.	PROPN
ftr-309	920	22	corporation	corporation	NOUN
ftr-309	920	23	(	(	PUNCT
ftr-309	920	24	nonus	nonus	NOUN
ftr-309	920	25	)	)	PUNCT
ftr-309	920	26	.	.	PUNCT
ftr-309	921	1	uscorp	uscorp	PROPN
ftr-309	921	2	sells	sell	VERB
ftr-309	921	3	property	property	NOUN
ftr-309	921	4	to	to	ADP
ftr-309	921	5	nonus	nonus	NOUN
ftr-309	921	6	for	for	ADP
ftr-309	921	7	a	a	DET
ftr-309	921	8	price	price	NOUN
ftr-309	921	9	determined	determine	VERB
ftr-309	921	10	by	by	ADP
ftr-309	921	11	the	the	DET
ftr-309	921	12	parties	party	NOUN
ftr-309	921	13	.	.	PUNCT
ftr-309	922	1	in	in	ADP
ftr-309	922	2	example	example	NOUN
ftr-309	922	3	5	5	NUM
ftr-309	922	4	,	,	PUNCT
ftr-309	922	5	the	the	DET
ftr-309	922	6	price	price	NOUN
ftr-309	922	7	established	establish	VERB
ftr-309	922	8	by	by	ADP
ftr-309	922	9	the	the	DET
ftr-309	922	10	parties	party	NOUN
ftr-309	922	11	will	will	AUX
ftr-309	922	12	not	not	PART
ftr-309	922	13	necessarily	necessarily	ADV
ftr-309	922	14	reflect	reflect	VERB
ftr-309	922	15	economic	economic	ADJ
ftr-309	922	16	reality	reality	NOUN
ftr-309	922	17	.	.	PUNCT
ftr-309	923	1	rather	rather	ADV
ftr-309	923	2	,	,	PUNCT
ftr-309	923	3	the	the	DET
ftr-309	923	4	parties	party	NOUN
ftr-309	923	5	might	might	AUX
ftr-309	923	6	use	use	VERB
ftr-309	923	7	a	a	DET
ftr-309	923	8	price	price	NOUN
ftr-309	923	9	lower	low	ADJ
ftr-309	923	10	than	than	ADP
ftr-309	923	11	the	the	DET
ftr-309	923	12	market	market	NOUN
ftr-309	923	13	price	price	NOUN
ftr-309	923	14	if	if	SCONJ
ftr-309	923	15	doing	do	VERB
ftr-309	923	16	so	so	ADV
ftr-309	923	17	minimizes	minimize	VERB
ftr-309	923	18	the	the	DET
ftr-309	923	19	parties	party	NOUN
ftr-309	923	20	'	'	PART
ftr-309	923	21	aggregate	aggregate	ADJ
ftr-309	923	22	tax	tax	NOUN
ftr-309	923	23	liability	liability	NOUN
ftr-309	923	24	.	.	PUNCT
ftr-309	924	1	section	section	NOUN
ftr-309	924	2	482	482	NUM
ftr-309	924	3	deals	deal	NOUN
ftr-309	924	4	broadly	broadly	ADV
ftr-309	924	5	with	with	ADP
ftr-309	924	6	the	the	DET
ftr-309	924	7	ubiquitous	ubiquitous	ADJ
ftr-309	924	8	problems	problem	NOUN
ftr-309	924	9	arising	arise	VERB
ftr-309	924	10	from	from	ADP
ftr-309	924	11	the	the	DET
ftr-309	924	12	fact	fact	NOUN
ftr-309	924	13	that	that	SCONJ
ftr-309	924	14	related	related	ADJ
ftr-309	924	15	parties	party	NOUN
ftr-309	924	16	do	do	AUX
ftr-309	924	17	not	not	PART
ftr-309	924	18	negotiate	negotiate	VERB
ftr-309	924	19	at	at	ADP
ftr-309	924	20	arm	arm	NOUN
ftr-309	924	21	's	's	PART
ftr-309	924	22	length	length	NOUN
ftr-309	924	23	,	,	PUNCT
ftr-309	924	24	and	and	CCONJ
ftr-309	924	25	,	,	PUNCT
ftr-309	924	26	thus	thus	ADV
ftr-309	924	27	,	,	PUNCT
ftr-309	924	28	might	might	AUX
ftr-309	924	29	manage	manage	VERB
ftr-309	924	30	their	their	PRON
ftr-309	924	31	transactions	transaction	NOUN
ftr-309	924	32	in	in	ADP
ftr-309	924	33	a	a	DET
ftr-309	924	34	way	way	NOUN
ftr-309	924	35	designed	design	VERB
ftr-309	924	36	purely	purely	ADV
ftr-309	924	37	to	to	PART
ftr-309	924	38	minimize	minimize	VERB
ftr-309	924	39	aggregate	aggregate	ADJ
ftr-309	924	40	tax	tax	NOUN
ftr-309	924	41	liability	liability	NOUN
ftr-309	924	42	.	.	PUNCT
ftr-309	925	1	specifically	specifically	ADV
ftr-309	925	2	,	,	PUNCT
ftr-309	925	3	section	section	NOUN
ftr-309	925	4	482	482	NUM
ftr-309	925	5	provides	provide	VERB
ftr-309	925	6	:	:	PUNCT
ftr-309	925	7	in	in	ADP
ftr-309	925	8	any	any	DET
ftr-309	925	9	case	case	NOUN
ftr-309	925	10	of	of	ADP
ftr-309	925	11	two	two	NUM
ftr-309	925	12	or	or	CCONJ
ftr-309	925	13	more	more	ADJ
ftr-309	925	14	organizations	organization	NOUN
ftr-309	925	15	,	,	PUNCT
ftr-309	925	16	trades	trade	NOUN
ftr-309	925	17	,	,	PUNCT
ftr-309	925	18	or	or	CCONJ
ftr-309	925	19	businesses	business	NOUN
ftr-309	925	20	(	(	PUNCT
ftr-309	925	21	whether	whether	SCONJ
ftr-309	925	22	or	or	CCONJ
ftr-309	925	23	not	not	PART
ftr-309	925	24	incorporated	incorporate	VERB
ftr-309	925	25	,	,	PUNCT
ftr-309	925	26	whether	whether	SCONJ
ftr-309	925	27	or	or	CCONJ
ftr-309	925	28	not	not	PART
ftr-309	925	29	organized	organize	VERB
ftr-309	925	30	in	in	ADP
ftr-309	925	31	the	the	DET
ftr-309	925	32	united	united	PROPN
ftr-309	925	33	states	states	PROPN
ftr-309	925	34	,	,	PUNCT
ftr-309	925	35	and	and	CCONJ
ftr-309	925	36	whether	whether	SCONJ
ftr-309	925	37	or	or	CCONJ
ftr-309	925	38	not	not	PART
ftr-309	925	39	affiliated	affiliated	ADJ
ftr-309	925	40	)	)	PUNCT
ftr-309	925	41	regs	reg	NOUN
ftr-309	925	42	.	.	PUNCT
ftr-309	926	1	§	§	PROPN
ftr-309	926	2	1.701	1.701	NUM
ftr-309	926	3	-	-	SYM
ftr-309	926	4	2(b	2(b	NUM
ftr-309	926	5	)	)	PUNCT
ftr-309	926	6	.	.	PUNCT
ftr-309	927	1	the	the	DET
ftr-309	927	2	regulations	regulation	NOUN
ftr-309	927	3	contain	contain	VERB
ftr-309	927	4	a	a	DET
ftr-309	927	5	list	list	NOUN
ftr-309	927	6	of	of	ADP
ftr-309	927	7	factors	factor	NOUN
ftr-309	927	8	that	that	PRON
ftr-309	927	9	may	may	AUX
ftr-309	927	10	indicate	indicate	VERB
ftr-309	927	11	,	,	PUNCT
ftr-309	927	12	but	but	CCONJ
ftr-309	927	13	do	do	AUX
ftr-309	927	14	not	not	PART
ftr-309	927	15	necessarily	necessarily	ADV
ftr-309	927	16	establish	establish	VERB
ftr-309	927	17	,	,	PUNCT
ftr-309	927	18	that	that	SCONJ
ftr-309	927	19	a	a	DET
ftr-309	927	20	partnership	partnership	NOUN
ftr-309	927	21	was	be	AUX
ftr-309	927	22	used	use	VERB
ftr-309	927	23	for	for	ADP
ftr-309	927	24	a	a	DET
ftr-309	927	25	prohibited	prohibit	VERB
ftr-309	927	26	purpose	purpose	NOUN
ftr-309	927	27	.	.	PUNCT
ftr-309	928	1	i	i	PRON
ftr-309	928	2	d.	d.	PROPN
ftr-309	928	3	these	these	DET
ftr-309	928	4	factors	factor	NOUN
ftr-309	928	5	include	include	VERB
ftr-309	928	6	,	,	PUNCT
ftr-309	928	7	among	among	ADP
ftr-309	928	8	others	other	NOUN
ftr-309	928	9	,	,	PUNCT
ftr-309	928	10	whether	whether	SCONJ
ftr-309	928	11	substantially	substantially	ADV
ftr-309	928	12	all	all	PRON
ftr-309	928	13	of	of	ADP
ftr-309	928	14	the	the	DET
ftr-309	928	15	partners	partner	NOUN
ftr-309	928	16	are	be	AUX
ftr-309	928	17	related	relate	VERB
ftr-309	928	18	to	to	ADP
ftr-309	928	19	one	one	NUM
ftr-309	928	20	another	another	DET
ftr-309	928	21	.	.	PUNCT
ftr-309	929	1	in	in	ADP
ftr-309	929	2	the	the	DET
ftr-309	929	3	blackstone	blackstone	NOUN
ftr-309	929	4	group	group	NOUN
ftr-309	929	5	lp	lp	PROPN
ftr-309	929	6	structure	structure	NOUN
ftr-309	929	7	,	,	PUNCT
ftr-309	929	8	all	all	PRON
ftr-309	929	9	of	of	ADP
ftr-309	929	10	the	the	DET
ftr-309	929	11	partners	partner	NOUN
ftr-309	929	12	are	be	AUX
ftr-309	929	13	related	relate	VERB
ftr-309	929	14	given	give	VERB
ftr-309	929	15	that	that	SCONJ
ftr-309	929	16	two	two	NUM
ftr-309	929	17	of	of	ADP
ftr-309	929	18	the	the	DET
ftr-309	929	19	partners	partner	NOUN
ftr-309	929	20	(	(	PUNCT
ftr-309	929	21	u.s	u.s	PROPN
ftr-309	929	22	.	.	PROPN
ftr-309	929	23	subsidiary	subsidiary	NOUN
ftr-309	929	24	and	and	CCONJ
ftr-309	929	25	non	non	ADJ
ftr-309	929	26	-	-	ADJ
ftr-309	929	27	u.s	u.s	PROPN
ftr-309	929	28	.	.	PROPN
ftr-309	929	29	subsidiary	subsidiary	NOUN
ftr-309	929	30	)	)	PUNCT
ftr-309	929	31	are	be	AUX
ftr-309	929	32	wholly	wholly	ADV
ftr-309	929	33	-	-	PUNCT
ftr-309	929	34	owned	own	VERB
ftr-309	929	35	subsidiaries	subsidiary	NOUN
ftr-309	929	36	of	of	ADP
ftr-309	929	37	the	the	DET
ftr-309	929	38	third	third	ADJ
ftr-309	929	39	partner	partner	NOUN
ftr-309	929	40	(	(	PUNCT
ftr-309	929	41	blackstone	blackstone	NOUN
ftr-309	929	42	group	group	PROPN
ftr-309	929	43	lp	lp	PROPN
ftr-309	929	44	)	)	PUNCT
ftr-309	929	45	.	.	PUNCT
ftr-309	930	1	145	145	NUM
ftr-309	930	2	.	.	PUNCT
ftr-309	931	1	for	for	ADP
ftr-309	931	2	further	further	ADJ
ftr-309	931	3	discussion	discussion	NOUN
ftr-309	931	4	of	of	ADP
ftr-309	931	5	how	how	SCONJ
ftr-309	931	6	the	the	DET
ftr-309	931	7	irs	irs	PROPN
ftr-309	931	8	might	might	AUX
ftr-309	931	9	invoke	invoke	VERB
ftr-309	931	10	section	section	NOUN
ftr-309	931	11	482	482	NUM
ftr-309	931	12	to	to	PART
ftr-309	931	13	challenge	challenge	VERB
ftr-309	931	14	allocations	allocation	NOUN
ftr-309	931	15	that	that	PRON
ftr-309	931	16	have	have	VERB
ftr-309	931	17	substantial	substantial	ADJ
ftr-309	931	18	economic	economic	ADJ
ftr-309	931	19	effect	effect	NOUN
ftr-309	931	20	but	but	CCONJ
ftr-309	931	21	that	that	PRON
ftr-309	931	22	involve	involve	VERB
ftr-309	931	23	related	related	ADJ
ftr-309	931	24	partners	partner	NOUN
ftr-309	931	25	,	,	PUNCT
ftr-309	931	26	see	see	VERB
ftr-309	931	27	leder	leder	NOUN
ftr-309	931	28	,	,	PUNCT
ftr-309	931	29	tax	tax	NOUN
ftr-309	931	30	-	-	PUNCT
ftr-309	931	31	driven	drive	VERB
ftr-309	931	32	partnership	partnership	NOUN
ftr-309	931	33	allocations	allocation	NOUN
ftr-309	931	34	,	,	PUNCT
ftr-309	931	35	supra	supra	PROPN
ftr-309	931	36	note	note	NOUN
ftr-309	931	37	13	13	NUM
ftr-309	931	38	,	,	PUNCT
ftr-309	931	39	at	at	ADP
ftr-309	931	40	769	769	NUM
ftr-309	931	41	,	,	PUNCT
ftr-309	931	42	77980	77980	NUM
ftr-309	931	43	.	.	PUNCT
ftr-309	932	1	146	146	NUM
ftr-309	932	2	.	.	PUNCT
ftr-309	932	3	i.r.c	i.r.c	NOUN
ftr-309	932	4	.	.	PUNCT
ftr-309	933	1	§	§	PROPN
ftr-309	933	2	1001	1001	NUM
ftr-309	933	3	.	.	PUNCT
ftr-309	934	1	193	193	NUM
ftr-309	934	2	florida	florida	PROPN
ftr-309	934	3	tax	tax	PROPN
ftr-309	934	4	review	review	NOUN
ftr-309	934	5	owned	own	VERB
ftr-309	934	6	or	or	CCONJ
ftr-309	934	7	controlled	control	VERB
ftr-309	934	8	directly	directly	ADV
ftr-309	934	9	or	or	CCONJ
ftr-309	934	10	indirectly	indirectly	ADV
ftr-309	934	11	by	by	ADP
ftr-309	934	12	the	the	DET
ftr-309	934	13	same	same	ADJ
ftr-309	934	14	interests	interest	NOUN
ftr-309	934	15	,	,	PUNCT
ftr-309	934	16	the	the	DET
ftr-309	934	17	secretary	secretary	NOUN
ftr-309	934	18	may	may	AUX
ftr-309	934	19	distribute	distribute	VERB
ftr-309	934	20	,	,	PUNCT
ftr-309	934	21	apportion	apportion	NOUN
ftr-309	934	22	,	,	PUNCT
ftr-309	934	23	or	or	CCONJ
ftr-309	934	24	allocate	allocate	VERB
ftr-309	934	25	gross	gross	ADJ
ftr-309	934	26	income	income	NOUN
ftr-309	934	27	,	,	PUNCT
ftr-309	934	28	deductions	deduction	NOUN
ftr-309	934	29	,	,	PUNCT
ftr-309	934	30	credits	credit	NOUN
ftr-309	934	31	,	,	PUNCT
ftr-309	934	32	or	or	CCONJ
ftr-309	934	33	allowances	allowance	NOUN
ftr-309	934	34	between	between	ADP
ftr-309	934	35	or	or	CCONJ
ftr-309	934	36	among	among	ADP
ftr-309	934	37	such	such	ADJ
ftr-309	934	38	organizations	organization	NOUN
ftr-309	934	39	,	,	PUNCT
ftr-309	934	40	trades	trade	NOUN
ftr-309	934	41	,	,	PUNCT
ftr-309	934	42	or	or	CCONJ
ftr-309	934	43	businesses	business	NOUN
ftr-309	934	44	,	,	PUNCT
ftr-309	934	45	if	if	SCONJ
ftr-309	934	46	he	he	PRON
ftr-309	934	47	determines	determine	VERB
ftr-309	934	48	that	that	SCONJ
ftr-309	934	49	such	such	ADJ
ftr-309	934	50	distribution	distribution	NOUN
ftr-309	934	51	,	,	PUNCT
ftr-309	934	52	apportionment	apportionment	ADJ
ftr-309	934	53	,	,	PUNCT
ftr-309	934	54	or	or	CCONJ
ftr-309	934	55	allocation	allocation	NOUN
ftr-309	934	56	is	be	AUX
ftr-309	934	57	necessary	necessary	ADJ
ftr-309	934	58	in	in	ADP
ftr-309	934	59	order	order	NOUN
ftr-309	934	60	to	to	PART
ftr-309	934	61	prevent	prevent	VERB
ftr-309	934	62	evasion	evasion	NOUN
ftr-309	934	63	of	of	ADP
ftr-309	934	64	taxes	taxis	NOUN
ftr-309	934	65	or	or	CCONJ
ftr-309	934	66	clearly	clearly	ADV
ftr-309	934	67	to	to	PART
ftr-309	934	68	reflect	reflect	VERB
ftr-309	934	69	the	the	DET
ftr-309	934	70	income	income	NOUN
ftr-309	934	71	of	of	ADP
ftr-309	934	72	any	any	PRON
ftr-309	934	73	of	of	ADP
ftr-309	934	74	such	such	ADJ
ftr-309	934	75	organizations	organization	NOUN
ftr-309	934	76	,	,	PUNCT
ftr-309	934	77	trades	trade	NOUN
ftr-309	934	78	,	,	PUNCT
ftr-309	934	79	or	or	CCONJ
ftr-309	934	80	businesses	business	NOUN
ftr-309	934	81	.	.	PUNCT
ftr-309	935	1	in	in	ADP
ftr-309	935	2	example	example	NOUN
ftr-309	935	3	5	5	NUM
ftr-309	935	4	above	above	ADV
ftr-309	935	5	,	,	PUNCT
ftr-309	935	6	the	the	DET
ftr-309	935	7	irs	irs	PROPN
ftr-309	935	8	could	could	AUX
ftr-309	935	9	use	use	VERB
ftr-309	935	10	section	section	NOUN
ftr-309	935	11	482	482	NUM
ftr-309	935	12	to	to	PART
ftr-309	935	13	challenge	challenge	VERB
ftr-309	935	14	the	the	DET
ftr-309	935	15	results	result	NOUN
ftr-309	935	16	claimed	claim	VERB
ftr-309	935	17	by	by	ADP
ftr-309	935	18	the	the	DET
ftr-309	935	19	parties	party	NOUN
ftr-309	935	20	if	if	SCONJ
ftr-309	935	21	the	the	DET
ftr-309	935	22	price	price	NOUN
ftr-309	935	23	used	use	VERB
ftr-309	935	24	is	be	AUX
ftr-309	935	25	inconsistent	inconsistent	ADJ
ftr-309	935	26	with	with	ADP
ftr-309	935	27	an	an	DET
ftr-309	935	28	arm'slength	arm'slength	NOUN
ftr-309	935	29	price	price	NOUN
ftr-309	935	30	.	.	PUNCT
ftr-309	936	1	14	14	NUM
ftr-309	936	2	7	7	NUM
ftr-309	936	3	in	in	ADP
ftr-309	936	4	the	the	DET
ftr-309	936	5	context	context	NOUN
ftr-309	936	6	of	of	ADP
ftr-309	936	7	partnership	partnership	NOUN
ftr-309	936	8	tax	tax	NOUN
ftr-309	936	9	allocations	allocation	NOUN
ftr-309	936	10	,	,	PUNCT
ftr-309	936	11	the	the	DET
ftr-309	936	12	treasury	treasury	PROPN
ftr-309	936	13	regulations	regulation	NOUN
ftr-309	936	14	specifically	specifically	ADV
ftr-309	936	15	provide	provide	VERB
ftr-309	936	16	that	that	SCONJ
ftr-309	936	17	the	the	DET
ftr-309	936	18	irs	irs	PROPN
ftr-309	936	19	may	may	AUX
ftr-309	936	20	use	use	VERB
ftr-309	936	21	section	section	NOUN
ftr-309	936	22	482	482	NUM
ftr-309	936	23	to	to	PART
ftr-309	936	24	challenge	challenge	VERB
ftr-309	936	25	partnership	partnership	NOUN
ftr-309	936	26	tax	tax	NOUN
ftr-309	936	27	allocations	allocation	NOUN
ftr-309	936	28	when	when	SCONJ
ftr-309	936	29	partners	partner	NOUN
ftr-309	936	30	are	be	AUX
ftr-309	936	31	related	relate	VERB
ftr-309	936	32	.	.	PUNCT
ftr-309	937	1	148	148	NUM
ftr-309	937	2	in	in	ADP
ftr-309	937	3	particular	particular	ADJ
ftr-309	937	4	,	,	PUNCT
ftr-309	937	5	regulations	regulation	NOUN
ftr-309	937	6	section	section	VERB
ftr-309	937	7	1.704	1.704	NUM
ftr-309	937	8	-	-	SYM
ftr-309	937	9	1(b)(1)(iii	1(b)(1)(iii	NUM
ftr-309	937	10	)	)	PUNCT
ftr-309	937	11	states	state	NOUN
ftr-309	937	12	:	:	PUNCT
ftr-309	937	13	"	"	PUNCT
ftr-309	937	14	[	[	X
ftr-309	937	15	a]n	a]n	NOUN
ftr-309	937	16	allocation	allocation	NOUN
ftr-309	937	17	that	that	PRON
ftr-309	937	18	is	be	AUX
ftr-309	937	19	respected	respect	VERB
ftr-309	937	20	under	under	ADP
ftr-309	937	21	[	[	PUNCT
ftr-309	937	22	the	the	DET
ftr-309	937	23	substantial	substantial	ADJ
ftr-309	937	24	economic	economic	ADJ
ftr-309	937	25	effect	effect	NOUN
ftr-309	937	26	rules	rule	NOUN
ftr-309	937	27	]	]	PUNCT
ftr-309	937	28	nevertheless	nevertheless	ADV
ftr-309	937	29	may	may	AUX
ftr-309	937	30	be	be	AUX
ftr-309	937	31	reallocated	reallocate	VERB
ftr-309	937	32	under	under	ADP
ftr-309	937	33	other	other	ADJ
ftr-309	937	34	provisions	provision	NOUN
ftr-309	937	35	,	,	PUNCT
ftr-309	937	36	such	such	ADJ
ftr-309	937	37	as	as	ADP
ftr-309	937	38	section	section	NOUN
ftr-309	937	39	482	482	NUM
ftr-309	937	40	.	.	PUNCT
ftr-309	937	41	.	.	PUNCT
ftr-309	937	42	.	.	PUNCT
ftr-309	937	43	.	.	PUNCT
ftr-309	937	44	"	"	PUNCT
ftr-309	938	1	this	this	DET
ftr-309	938	2	language	language	NOUN
ftr-309	938	3	is	be	AUX
ftr-309	938	4	supplemented	supplement	VERB
ftr-309	938	5	by	by	ADP
ftr-309	938	6	the	the	DET
ftr-309	938	7	following	follow	VERB
ftr-309	938	8	example	example	NOUN
ftr-309	938	9	:	:	PUNCT
ftr-309	938	10	example	example	NOUN
ftr-309	938	11	28	28	NUM
ftr-309	938	12	.	.	PUNCT
ftr-309	939	1	(	(	PUNCT
ftr-309	939	2	i	i	NOUN
ftr-309	939	3	)	)	PUNCT
ftr-309	939	4	b	b	PROPN
ftr-309	939	5	,	,	PUNCT
ftr-309	939	6	a	a	DET
ftr-309	939	7	domestic	domestic	ADJ
ftr-309	939	8	corporation	corporation	NOUN
ftr-309	939	9	,	,	PUNCT
ftr-309	939	10	and	and	CCONJ
ftr-309	939	11	c	c	X
ftr-309	939	12	,	,	PUNCT
ftr-309	939	13	a	a	DET
ftr-309	939	14	controlled	control	VERB
ftr-309	939	15	foreign	foreign	ADJ
ftr-309	939	16	corporation	corporation	NOUN
ftr-309	939	17	,	,	PUNCT
ftr-309	939	18	form	form	NOUN
ftr-309	939	19	bc	bc	PROPN
ftr-309	939	20	,	,	PUNCT
ftr-309	939	21	a	a	DET
ftr-309	939	22	partnership	partnership	NOUN
ftr-309	939	23	organized	organize	VERB
ftr-309	939	24	under	under	ADP
ftr-309	939	25	the	the	DET
ftr-309	939	26	laws	law	NOUN
ftr-309	939	27	of	of	ADP
ftr-309	939	28	country	country	NOUN
ftr-309	939	29	x.	x.	NOUN
ftr-309	939	30	b	b	PROPN
ftr-309	939	31	and	and	CCONJ
ftr-309	939	32	c	c	PROPN
ftr-309	939	33	each	each	PRON
ftr-309	939	34	contribute	contribute	VERB
ftr-309	939	35	50	50	NUM
ftr-309	939	36	percent	percent	NOUN
ftr-309	939	37	of	of	ADP
ftr-309	939	38	the	the	DET
ftr-309	939	39	capital	capital	NOUN
ftr-309	939	40	of	of	ADP
ftr-309	939	41	bc	bc	PROPN
ftr-309	939	42	.	.	PROPN
ftr-309	939	43	b	b	PROPN
ftr-309	939	44	and	and	CCONJ
ftr-309	939	45	c	c	PROPN
ftr-309	939	46	are	be	AUX
ftr-309	939	47	wholly	wholly	ADV
ftr-309	939	48	-	-	PUNCT
ftr-309	939	49	owned	own	VERB
ftr-309	939	50	subsidiaries	subsidiary	NOUN
ftr-309	939	51	of	of	ADP
ftr-309	939	52	a	a	PRON
ftr-309	939	53	,	,	PUNCT
ftr-309	939	54	a	a	DET
ftr-309	939	55	domestic	domestic	ADJ
ftr-309	939	56	corporation	corporation	NOUN
ftr-309	939	57	....	....	PUNCT
ftr-309	940	1	the	the	DET
ftr-309	940	2	bc	bc	PROPN
ftr-309	940	3	partnership	partnership	PROPN
ftr-309	940	4	agreement	agreement	NOUN
ftr-309	940	5	provides	provide	VERB
ftr-309	940	6	that	that	SCONJ
ftr-309	940	7	,	,	PUNCT
ftr-309	940	8	for	for	ADP
ftr-309	940	9	the	the	DET
ftr-309	940	10	first	first	ADJ
ftr-309	940	11	fifteen	fifteen	NUM
ftr-309	940	12	years	year	NOUN
ftr-309	940	13	,	,	PUNCT
ftr-309	940	14	bc	bc	PROPN
ftr-309	940	15	's	's	PART
ftr-309	940	16	gross	gross	ADJ
ftr-309	940	17	income	income	NOUN
ftr-309	940	18	will	will	AUX
ftr-309	940	19	be	be	AUX
ftr-309	940	20	allocated	allocate	VERB
ftr-309	940	21	10	10	NUM
ftr-309	940	22	percent	percent	NOUN
ftr-309	940	23	to	to	ADP
ftr-309	940	24	b	b	NOUN
ftr-309	940	25	and	and	CCONJ
ftr-309	940	26	90	90	NUM
ftr-309	940	27	percent	percent	NOUN
ftr-309	940	28	to	to	ADP
ftr-309	940	29	c	c	NOUN
ftr-309	940	30	,	,	PUNCT
ftr-309	940	31	and	and	CCONJ
ftr-309	940	32	bc	bc	PROPN
ftr-309	940	33	's	's	PART
ftr-309	940	34	deductions	deduction	NOUN
ftr-309	940	35	and	and	CCONJ
ftr-309	940	36	losses	loss	NOUN
ftr-309	940	37	will	will	AUX
ftr-309	940	38	be	be	AUX
ftr-309	940	39	allocated	allocate	VERB
ftr-309	940	40	90	90	NUM
ftr-309	940	41	percent	percent	NOUN
ftr-309	940	42	to	to	ADP
ftr-309	940	43	b	b	NOUN
ftr-309	940	44	and	and	CCONJ
ftr-309	940	45	10	10	NUM
ftr-309	940	46	percent	percent	NOUN
ftr-309	940	47	to	to	ADP
ftr-309	940	48	c.	c.	PROPN
ftr-309	940	49	the	the	DET
ftr-309	940	50	147	147	NUM
ftr-309	940	51	.	.	PUNCT
ftr-309	940	52	regs	regs	PROPN
ftr-309	940	53	.	.	PUNCT
ftr-309	941	1	§	§	PROPN
ftr-309	941	2	1.482	1.482	NUM
ftr-309	941	3	-	-	SYM
ftr-309	941	4	1(b)(1	1(b)(1	NUM
ftr-309	941	5	)	)	PUNCT
ftr-309	941	6	(	(	PUNCT
ftr-309	941	7	"	"	PUNCT
ftr-309	941	8	[	[	X
ftr-309	941	9	t]he	t]he	ADV
ftr-309	941	10	standard	standard	NOUN
ftr-309	941	11	to	to	PART
ftr-309	941	12	be	be	AUX
ftr-309	941	13	applied	apply	VERB
ftr-309	941	14	in	in	ADP
ftr-309	941	15	every	every	DET
ftr-309	941	16	case	case	NOUN
ftr-309	941	17	is	be	AUX
ftr-309	941	18	that	that	PRON
ftr-309	941	19	of	of	ADP
ftr-309	941	20	a	a	DET
ftr-309	941	21	taxpayer	taxpayer	NOUN
ftr-309	941	22	dealing	deal	VERB
ftr-309	941	23	at	at	ADP
ftr-309	941	24	arm	arm	NOUN
ftr-309	941	25	's	's	PART
ftr-309	941	26	length	length	NOUN
ftr-309	941	27	with	with	ADP
ftr-309	941	28	an	an	DET
ftr-309	941	29	uncontrolled	uncontrolled	ADJ
ftr-309	941	30	taxpayer	taxpayer	NOUN
ftr-309	941	31	.	.	PUNCT
ftr-309	941	32	"	"	PUNCT
ftr-309	941	33	)	)	PUNCT
ftr-309	941	34	.	.	PUNCT
ftr-309	942	1	148	148	NUM
ftr-309	942	2	.	.	PUNCT
ftr-309	943	1	for	for	ADP
ftr-309	943	2	further	further	ADJ
ftr-309	943	3	discussion	discussion	NOUN
ftr-309	943	4	,	,	PUNCT
ftr-309	943	5	see	see	VERB
ftr-309	943	6	leder	leder	NOUN
ftr-309	943	7	,	,	PUNCT
ftr-309	943	8	tax	tax	NOUN
ftr-309	943	9	-	-	PUNCT
ftr-309	943	10	driven	drive	VERB
ftr-309	943	11	partnership	partnership	NOUN
ftr-309	943	12	allocations	allocation	NOUN
ftr-309	943	13	,	,	PUNCT
ftr-309	943	14	supra	supra	PROPN
ftr-309	943	15	note	note	NOUN
ftr-309	943	16	13	13	NUM
ftr-309	943	17	,	,	PUNCT
ftr-309	943	18	at	at	ADP
ftr-309	943	19	785	785	NUM
ftr-309	943	20	-	-	SYM
ftr-309	943	21	87	87	NUM
ftr-309	943	22	.	.	PUNCT
ftr-309	944	1	see	see	VERB
ftr-309	944	2	also	also	ADV
ftr-309	944	3	mckee	mckee	PROPN
ftr-309	944	4	,	,	PUNCT
ftr-309	944	5	nelson	nelson	PROPN
ftr-309	944	6	&	&	CCONJ
ftr-309	944	7	whitmire	whitmire	PROPN
ftr-309	944	8	,	,	PUNCT
ftr-309	944	9	partnerships	partnership	NOUN
ftr-309	944	10	and	and	CCONJ
ftr-309	944	11	partners	partner	NOUN
ftr-309	944	12	,	,	PUNCT
ftr-309	944	13	supra	supra	PROPN
ftr-309	944	14	note	note	NOUN
ftr-309	944	15	82	82	NUM
ftr-309	944	16	,	,	PUNCT
ftr-309	944	17	3.04[4	3.04[4	NUM
ftr-309	944	18	]	]	PUNCT
ftr-309	944	19	(	(	PUNCT
ftr-309	944	20	"	"	PUNCT
ftr-309	944	21	while	while	SCONJ
ftr-309	944	22	there	there	PRON
ftr-309	944	23	is	be	VERB
ftr-309	944	24	limited	limited	ADJ
ftr-309	944	25	case	case	NOUN
ftr-309	944	26	law	law	NOUN
ftr-309	944	27	dealing	deal	VERB
ftr-309	944	28	with	with	ADP
ftr-309	944	29	the	the	DET
ftr-309	944	30	application	application	NOUN
ftr-309	944	31	of	of	ADP
ftr-309	944	32	§	§	PROPN
ftr-309	944	33	482	482	NUM
ftr-309	944	34	to	to	ADP
ftr-309	944	35	partnerships	partnership	NOUN
ftr-309	944	36	,	,	PUNCT
ftr-309	944	37	the	the	DET
ftr-309	944	38	courts	court	NOUN
ftr-309	944	39	have	have	AUX
ftr-309	944	40	not	not	PART
ftr-309	944	41	been	be	AUX
ftr-309	944	42	reluctant	reluctant	ADJ
ftr-309	944	43	to	to	PART
ftr-309	944	44	apply	apply	VERB
ftr-309	944	45	it	it	PRON
ftr-309	944	46	to	to	ADP
ftr-309	944	47	situations	situation	NOUN
ftr-309	944	48	where	where	SCONJ
ftr-309	944	49	partners	partner	NOUN
ftr-309	944	50	are	be	AUX
ftr-309	944	51	related	relate	VERB
ftr-309	944	52	or	or	CCONJ
ftr-309	944	53	are	be	AUX
ftr-309	944	54	under	under	ADP
ftr-309	944	55	common	common	ADJ
ftr-309	944	56	control	control	NOUN
ftr-309	944	57	....	....	PUNCT
ftr-309	945	1	the	the	DET
ftr-309	945	2	scope	scope	NOUN
ftr-309	945	3	of	of	ADP
ftr-309	945	4	§	§	PROPN
ftr-309	945	5	482	482	NUM
ftr-309	945	6	is	be	AUX
ftr-309	945	7	broad	broad	ADJ
ftr-309	945	8	enough	enough	ADV
ftr-309	945	9	to	to	PART
ftr-309	945	10	encompass	encompass	VERB
ftr-309	945	11	.	.	PUNCT
ftr-309	945	12	.	.	PUNCT
ftr-309	946	1	.	.	PUNCT
ftr-309	947	1	partnerships	partnership	NOUN
ftr-309	947	2	between	between	ADP
ftr-309	947	3	corporations	corporation	NOUN
ftr-309	947	4	and	and	CCONJ
ftr-309	947	5	their	their	PRON
ftr-309	947	6	controlling	control	VERB
ftr-309	947	7	shareholders	shareholder	NOUN
ftr-309	947	8	,	,	PUNCT
ftr-309	947	9	.	.	PUNCT
ftr-309	947	10	.	.	PUNCT
ftr-309	947	11	.	.	PUNCT
ftr-309	948	1	assuming	assume	VERB
ftr-309	948	2	the	the	DET
ftr-309	948	3	controlling	control	VERB
ftr-309	948	4	shareholders	shareholder	NOUN
ftr-309	948	5	are	be	AUX
ftr-309	948	6	viewed	view	VERB
ftr-309	948	7	as	as	ADP
ftr-309	948	8	'	'	PUNCT
ftr-309	948	9	organizations	organization	NOUN
ftr-309	948	10	,	,	PUNCT
ftr-309	948	11	trades	trade	NOUN
ftr-309	948	12	,	,	PUNCT
ftr-309	948	13	or	or	CCONJ
ftr-309	948	14	businesses	business	NOUN
ftr-309	948	15	'	'	PUNCT
ftr-309	948	16	for	for	ADP
ftr-309	948	17	purposes	purpose	NOUN
ftr-309	948	18	of	of	ADP
ftr-309	948	19	§	§	PROPN
ftr-309	948	20	482	482	NUM
ftr-309	948	21	.	.	PUNCT
ftr-309	948	22	.	.	PUNCT
ftr-309	948	23	.	.	PUNCT
ftr-309	948	24	.	.	PUNCT
ftr-309	949	1	"	"	PUNCT
ftr-309	949	2	)	)	PUNCT
ftr-309	949	3	;	;	PUNCT
ftr-309	949	4	i	i	PROPN
ftr-309	949	5	d.	d.	PROPN
ftr-309	949	6	10.03[3	10.03[3	PROPN
ftr-309	949	7	]	]	PUNCT
ftr-309	949	8	(	(	PUNCT
ftr-309	949	9	"	"	PUNCT
ftr-309	949	10	[	[	X
ftr-309	949	11	aln	aln	NOUN
ftr-309	949	12	allocation	allocation	NOUN
ftr-309	949	13	provision	provision	NOUN
ftr-309	949	14	,	,	PUNCT
ftr-309	949	15	which	which	PRON
ftr-309	949	16	is	be	AUX
ftr-309	949	17	in	in	ADP
ftr-309	949	18	substance	substance	NOUN
ftr-309	949	19	a	a	DET
ftr-309	949	20	contract	contract	NOUN
ftr-309	949	21	among	among	ADP
ftr-309	949	22	the	the	DET
ftr-309	949	23	partners	partner	NOUN
ftr-309	949	24	as	as	ADP
ftr-309	949	25	to	to	ADP
ftr-309	949	26	how	how	SCONJ
ftr-309	949	27	they	they	PRON
ftr-309	949	28	will	will	AUX
ftr-309	949	29	share	share	VERB
ftr-309	949	30	the	the	DET
ftr-309	949	31	partnership	partnership	NOUN
ftr-309	949	32	's	's	PART
ftr-309	949	33	income	income	NOUN
ftr-309	949	34	and	and	CCONJ
ftr-309	949	35	loss	loss	NOUN
ftr-309	949	36	,	,	PUNCT
ftr-309	949	37	can	can	AUX
ftr-309	949	38	distort	distort	VERB
ftr-309	949	39	the	the	DET
ftr-309	949	40	income	income	NOUN
ftr-309	949	41	of	of	ADP
ftr-309	949	42	the	the	DET
ftr-309	949	43	partners	partner	NOUN
ftr-309	949	44	vis	vis	X
ftr-309	949	45	-	-	PUNCT
ftr-309	949	46	a	a	X
ftr-309	949	47	-	-	PUNCT
ftr-309	949	48	vis	vis	X
ftr-309	949	49	each	each	DET
ftr-309	949	50	other	other	ADJ
ftr-309	949	51	.	.	PUNCT
ftr-309	950	1	accordingly	accordingly	ADV
ftr-309	950	2	,	,	PUNCT
ftr-309	950	3	§	§	PROPN
ftr-309	950	4	482	482	NUM
ftr-309	950	5	should	should	AUX
ftr-309	950	6	apply	apply	VERB
ftr-309	950	7	to	to	PART
ftr-309	950	8	permit	permit	VERB
ftr-309	950	9	the	the	DET
ftr-309	950	10	service	service	NOUN
ftr-309	950	11	to	to	PART
ftr-309	950	12	correct	correct	VERB
ftr-309	950	13	such	such	ADJ
ftr-309	950	14	distortions	distortion	NOUN
ftr-309	950	15	where	where	SCONJ
ftr-309	950	16	certain	certain	ADJ
ftr-309	950	17	partners	partner	NOUN
ftr-309	950	18	are	be	AUX
ftr-309	950	19	under	under	ADP
ftr-309	950	20	common	common	ADJ
ftr-309	950	21	control	control	NOUN
ftr-309	950	22	.	.	PUNCT
ftr-309	951	1	"	"	PUNCT
ftr-309	951	2	)	)	PUNCT
ftr-309	951	3	.	.	PUNCT
ftr-309	952	1	194	194	NUM
ftr-309	953	1	[	[	X
ftr-309	953	2	vol	vol	NOUN
ftr-309	953	3	.	.	PUNCT
ftr-309	953	4	14:5	14:5	NUM
ftr-309	953	5	2013	2013	NUM
ftr-309	953	6	]	]	PUNCT
ftr-309	953	7	was	be	AUX
ftr-309	953	8	blackstone	blackstone	NOUN
ftr-309	953	9	's	's	PART
ftr-309	953	10	initial	initial	ADJ
ftr-309	953	11	public	public	ADJ
ftr-309	953	12	offering	offering	NOUN
ftr-309	953	13	too	too	ADV
ftr-309	953	14	good	good	ADJ
ftr-309	953	15	to	to	PART
ftr-309	953	16	be	be	AUX
ftr-309	953	17	true	true	ADJ
ftr-309	953	18	?	?	PUNCT
ftr-309	954	1	partnership	partnership	NOUN
ftr-309	954	2	agreement	agreement	NOUN
ftr-309	954	3	also	also	ADV
ftr-309	954	4	provides	provide	VERB
ftr-309	954	5	that	that	SCONJ
ftr-309	954	6	,	,	PUNCT
ftr-309	954	7	after	after	ADP
ftr-309	954	8	the	the	DET
ftr-309	954	9	initial	initial	ADJ
ftr-309	954	10	fifteen	fifteen	NUM
ftr-309	954	11	year	year	NOUN
ftr-309	954	12	period	period	NOUN
ftr-309	954	13	,	,	PUNCT
ftr-309	954	14	bc	bc	PROPN
ftr-309	954	15	's	's	PART
ftr-309	954	16	gross	gross	ADJ
ftr-309	954	17	income	income	NOUN
ftr-309	954	18	will	will	AUX
ftr-309	954	19	be	be	AUX
ftr-309	954	20	allocated	allocate	VERB
ftr-309	954	21	90	90	NUM
ftr-309	954	22	percent	percent	NOUN
ftr-309	954	23	to	to	ADP
ftr-309	954	24	b	b	NOUN
ftr-309	954	25	and	and	CCONJ
ftr-309	954	26	10	10	NUM
ftr-309	954	27	percent	percent	NOUN
ftr-309	954	28	to	to	ADP
ftr-309	954	29	c	c	NOUN
ftr-309	954	30	,	,	PUNCT
ftr-309	954	31	and	and	CCONJ
ftr-309	954	32	bc	bc	PROPN
ftr-309	954	33	's	's	PART
ftr-309	954	34	deductions	deduction	NOUN
ftr-309	954	35	and	and	CCONJ
ftr-309	954	36	losses	loss	NOUN
ftr-309	954	37	will	will	AUX
ftr-309	954	38	be	be	AUX
ftr-309	954	39	allocated	allocate	VERB
ftr-309	954	40	10	10	NUM
ftr-309	954	41	percent	percent	NOUN
ftr-309	954	42	to	to	ADP
ftr-309	954	43	b	b	NOUN
ftr-309	954	44	and	and	CCONJ
ftr-309	954	45	90	90	NUM
ftr-309	954	46	percent	percent	NOUN
ftr-309	954	47	to	to	ADP
ftr-309	954	48	c.	c.	PROPN
ftr-309	954	49	(	(	PUNCT
ftr-309	954	50	ii	ii	PROPN
ftr-309	954	51	)	)	PUNCT
ftr-309	954	52	apart	apart	ADV
ftr-309	954	53	from	from	ADP
ftr-309	954	54	the	the	DET
ftr-309	954	55	application	application	NOUN
ftr-309	954	56	of	of	ADP
ftr-309	954	57	[	[	PUNCT
ftr-309	954	58	the	the	DET
ftr-309	954	59	substantial	substantial	ADJ
ftr-309	954	60	economic	economic	ADJ
ftr-309	954	61	effect	effect	NOUN
ftr-309	954	62	rules	rule	NOUN
ftr-309	954	63	]	]	PUNCT
ftr-309	954	64	,	,	PUNCT
ftr-309	954	65	the	the	DET
ftr-309	954	66	commissioner	commissioner	NOUN
ftr-309	954	67	may	may	AUX
ftr-309	954	68	reallocate	reallocate	VERB
ftr-309	954	69	or	or	CCONJ
ftr-309	954	70	otherwise	otherwise	ADV
ftr-309	954	71	not	not	PART
ftr-309	954	72	respect	respect	VERB
ftr-309	954	73	the	the	DET
ftr-309	954	74	allocations	allocation	NOUN
ftr-309	954	75	under	under	ADP
ftr-309	954	76	other	other	ADJ
ftr-309	954	77	sections	section	NOUN
ftr-309	954	78	.	.	PUNCT
ftr-309	954	79	.	.	PUNCT
ftr-309	954	80	.	.	PUNCT
ftr-309	955	1	.	.	PUNCT
ftr-309	956	1	for	for	ADP
ftr-309	956	2	example	example	NOUN
ftr-309	956	3	,	,	PUNCT
ftr-309	956	4	bc	bc	PROPN
ftr-309	956	5	's	's	PART
ftr-309	956	6	allocations	allocation	NOUN
ftr-309	956	7	of	of	ADP
ftr-309	956	8	gross	gross	ADJ
ftr-309	956	9	income	income	NOUN
ftr-309	956	10	,	,	PUNCT
ftr-309	956	11	deductions	deduction	NOUN
ftr-309	956	12	,	,	PUNCT
ftr-309	956	13	and	and	CCONJ
ftr-309	956	14	losses	loss	NOUN
ftr-309	956	15	may	may	AUX
ftr-309	956	16	be	be	AUX
ftr-309	956	17	evaluated	evaluate	VERB
ftr-309	956	18	and	and	CCONJ
ftr-309	956	19	reallocated	reallocate	VERB
ftr-309	956	20	(	(	PUNCT
ftr-309	956	21	or	or	CCONJ
ftr-309	956	22	not	not	PART
ftr-309	956	23	respected	respected	ADJ
ftr-309	956	24	)	)	PUNCT
ftr-309	956	25	,	,	PUNCT
ftr-309	956	26	as	as	ADP
ftr-309	956	27	appropriate	appropriate	ADJ
ftr-309	956	28	,	,	PUNCT
ftr-309	956	29	if	if	SCONJ
ftr-309	956	30	it	it	PRON
ftr-309	956	31	is	be	AUX
ftr-309	956	32	determined	determine	VERB
ftr-309	956	33	that	that	SCONJ
ftr-309	956	34	the	the	DET
ftr-309	956	35	allocations	allocation	NOUN
ftr-309	956	36	result	result	VERB
ftr-309	956	37	in	in	ADP
ftr-309	956	38	the	the	DET
ftr-309	956	39	evasion	evasion	NOUN
ftr-309	956	40	of	of	ADP
ftr-309	956	41	tax	tax	NOUN
ftr-309	956	42	or	or	CCONJ
ftr-309	956	43	do	do	AUX
ftr-309	956	44	not	not	PART
ftr-309	956	45	clearly	clearly	ADV
ftr-309	956	46	reflect	reflect	VERB
ftr-309	956	47	income	income	NOUN
ftr-309	956	48	under	under	ADP
ftr-309	956	49	section	section	NOUN
ftr-309	956	50	482.149	482.149	NUM
ftr-309	956	51	example	example	NOUN
ftr-309	956	52	28	28	NUM
ftr-309	956	53	is	be	AUX
ftr-309	956	54	similar	similar	ADJ
ftr-309	956	55	to	to	ADP
ftr-309	956	56	the	the	DET
ftr-309	956	57	blackstone	blackstone	NOUN
ftr-309	956	58	group	group	NOUN
ftr-309	956	59	lp	lp	PROPN
ftr-309	956	60	structure	structure	NOUN
ftr-309	956	61	.	.	PUNCT
ftr-309	957	1	in	in	ADP
ftr-309	957	2	example	example	NOUN
ftr-309	957	3	28	28	NUM
ftr-309	957	4	,	,	PUNCT
ftr-309	957	5	a	a	DET
ftr-309	957	6	partnership	partnership	NOUN
ftr-309	957	7	has	have	VERB
ftr-309	957	8	two	two	NUM
ftr-309	957	9	partners	partner	NOUN
ftr-309	957	10	(	(	PUNCT
ftr-309	957	11	b	b	NOUN
ftr-309	957	12	and	and	CCONJ
ftr-309	957	13	c	c	NOUN
ftr-309	957	14	)	)	PUNCT
ftr-309	957	15	,	,	PUNCT
ftr-309	957	16	both	both	PRON
ftr-309	957	17	of	of	ADP
ftr-309	957	18	which	which	PRON
ftr-309	957	19	are	be	AUX
ftr-309	957	20	corporations	corporation	NOUN
ftr-309	957	21	and	and	CCONJ
ftr-309	957	22	both	both	PRON
ftr-309	957	23	of	of	ADP
ftr-309	957	24	which	which	PRON
ftr-309	957	25	are	be	AUX
ftr-309	957	26	wholly	wholly	ADV
ftr-309	957	27	-	-	PUNCT
ftr-309	957	28	owned	own	VERB
ftr-309	957	29	by	by	ADP
ftr-309	957	30	a	a	DET
ftr-309	957	31	third	third	ADJ
ftr-309	957	32	corporation	corporation	NOUN
ftr-309	957	33	(	(	PUNCT
ftr-309	957	34	a	a	NOUN
ftr-309	957	35	)	)	PUNCT
ftr-309	957	36	.	.	PUNCT
ftr-309	958	1	the	the	DET
ftr-309	958	2	partnership	partnership	NOUN
ftr-309	958	3	allocates	allocate	VERB
ftr-309	958	4	items	item	NOUN
ftr-309	958	5	between	between	ADP
ftr-309	958	6	b	b	PROPN
ftr-309	958	7	and	and	CCONJ
ftr-309	958	8	c	c	PROPN
ftr-309	958	9	in	in	ADP
ftr-309	958	10	a	a	DET
ftr-309	958	11	way	way	NOUN
ftr-309	958	12	that	that	PRON
ftr-309	958	13	minimizes	minimize	VERB
ftr-309	958	14	the	the	DET
ftr-309	958	15	partners	partner	NOUN
ftr-309	958	16	'	'	PART
ftr-309	958	17	aggregate	aggregate	ADJ
ftr-309	958	18	tax	tax	NOUN
ftr-309	958	19	liability	liability	NOUN
ftr-309	958	20	.	.	PUNCT
ftr-309	959	1	given	give	VERB
ftr-309	959	2	that	that	DET
ftr-309	959	3	b	b	NOUN
ftr-309	959	4	and	and	CCONJ
ftr-309	959	5	c	c	PROPN
ftr-309	959	6	are	be	AUX
ftr-309	959	7	"	"	PUNCT
ftr-309	959	8	organizations	organization	NOUN
ftr-309	959	9	,	,	PUNCT
ftr-309	959	10	trades	trade	NOUN
ftr-309	959	11	or	or	CCONJ
ftr-309	959	12	businesses	business	NOUN
ftr-309	959	13	"	"	PUNCT
ftr-309	959	14	and	and	CCONJ
ftr-309	959	15	are	be	AUX
ftr-309	959	16	"	"	PUNCT
ftr-309	959	17	owned	own	VERB
ftr-309	959	18	or	or	CCONJ
ftr-309	959	19	controlled	control	VERB
ftr-309	959	20	,	,	PUNCT
ftr-309	959	21	directly	directly	ADV
ftr-309	959	22	or	or	CCONJ
ftr-309	959	23	indirectly	indirectly	ADV
ftr-309	959	24	,	,	PUNCT
ftr-309	959	25	by	by	ADP
ftr-309	959	26	the	the	DET
ftr-309	959	27	same	same	ADJ
ftr-309	959	28	interests	interest	NOUN
ftr-309	959	29	,	,	PUNCT
ftr-309	959	30	"	"	PUNCT
ftr-309	959	31	example	example	NOUN
ftr-309	959	32	28	28	NUM
ftr-309	959	33	concludes	conclude	VERB
ftr-309	959	34	that	that	SCONJ
ftr-309	959	35	the	the	DET
ftr-309	959	36	irs	irs	PROPN
ftr-309	959	37	could	could	AUX
ftr-309	959	38	challenge	challenge	VERB
ftr-309	959	39	the	the	DET
ftr-309	959	40	allocations	allocation	NOUN
ftr-309	959	41	under	under	ADP
ftr-309	959	42	section	section	NOUN
ftr-309	959	43	482	482	NUM
ftr-309	959	44	,	,	PUNCT
ftr-309	959	45	even	even	ADV
ftr-309	959	46	if	if	SCONJ
ftr-309	959	47	the	the	DET
ftr-309	959	48	allocations	allocation	NOUN
ftr-309	959	49	comply	comply	VERB
ftr-309	959	50	with	with	ADP
ftr-309	959	51	the	the	DET
ftr-309	959	52	substantial	substantial	ADJ
ftr-309	959	53	economic	economic	ADJ
ftr-309	959	54	effect	effect	NOUN
ftr-309	959	55	rules	rule	NOUN
ftr-309	959	56	.	.	PUNCT
ftr-309	960	1	in	in	ADP
ftr-309	960	2	addition	addition	NOUN
ftr-309	960	3	,	,	PUNCT
ftr-309	960	4	the	the	DET
ftr-309	960	5	irs	irs	PROPN
ftr-309	960	6	has	have	AUX
ftr-309	960	7	successfully	successfully	ADV
ftr-309	960	8	invoked	invoke	VERB
ftr-309	960	9	section	section	NOUN
ftr-309	960	10	482	482	NUM
ftr-309	960	11	to	to	PART
ftr-309	960	12	challenge	challenge	VERB
ftr-309	960	13	partnership	partnership	NOUN
ftr-309	960	14	tax	tax	NOUN
ftr-309	960	15	allocations	allocation	NOUN
ftr-309	960	16	in	in	ADP
ftr-309	960	17	the	the	DET
ftr-309	960	18	past	past	NOUN
ftr-309	960	19	.	.	PUNCT
ftr-309	961	1	in	in	ADP
ftr-309	961	2	rodebaugh	rodebaugh	PROPN
ftr-309	961	3	v.	v.	PROPN
ftr-309	961	4	commissioner	commissioner	NOUN
ftr-309	961	5	,	,	PUNCT
ftr-309	961	6	'	'	PUNCT
ftr-309	961	7	50	50	NUM
ftr-309	961	8	the	the	DET
ftr-309	961	9	taxpayers	taxpayer	NOUN
ftr-309	961	10	(	(	PUNCT
ftr-309	961	11	husband	husband	NOUN
ftr-309	961	12	and	and	CCONJ
ftr-309	961	13	wife	wife	NOUN
ftr-309	961	14	)	)	PUNCT
ftr-309	961	15	each	each	DET
ftr-309	961	16	owned	own	VERB
ftr-309	961	17	stock	stock	NOUN
ftr-309	961	18	in	in	ADP
ftr-309	961	19	several	several	ADJ
ftr-309	961	20	corporations	corporation	NOUN
ftr-309	961	21	.	.	PUNCT
ftr-309	962	1	the	the	DET
ftr-309	962	2	corporations	corporation	NOUN
ftr-309	962	3	,	,	PUNCT
ftr-309	962	4	in	in	ADP
ftr-309	962	5	turn	turn	NOUN
ftr-309	962	6	,	,	PUNCT
ftr-309	962	7	were	be	AUX
ftr-309	962	8	partners	partner	NOUN
ftr-309	962	9	in	in	ADP
ftr-309	962	10	a	a	DET
ftr-309	962	11	partnership	partnership	NOUN
ftr-309	962	12	,	,	PUNCT
ftr-309	962	13	and	and	CCONJ
ftr-309	962	14	the	the	DET
ftr-309	962	15	partnership	partnership	NOUN
ftr-309	962	16	allocated	allocate	VERB
ftr-309	962	17	tax	tax	NOUN
ftr-309	962	18	items	item	NOUN
ftr-309	962	19	among	among	ADP
ftr-309	962	20	the	the	DET
ftr-309	962	21	partners	partner	NOUN
ftr-309	962	22	in	in	ADP
ftr-309	962	23	a	a	DET
ftr-309	962	24	way	way	NOUN
ftr-309	962	25	that	that	PRON
ftr-309	962	26	was	be	AUX
ftr-309	962	27	designed	design	VERB
ftr-309	962	28	to	to	PART
ftr-309	962	29	minimize	minimize	VERB
ftr-309	962	30	the	the	DET
ftr-309	962	31	partners	partner	NOUN
ftr-309	962	32	'	'	PART
ftr-309	962	33	aggregate	aggregate	ADJ
ftr-309	962	34	tax	tax	NOUN
ftr-309	962	35	liability	liability	NOUN
ftr-309	962	36	.	.	PUNCT
ftr-309	963	1	the	the	DET
ftr-309	963	2	irs	irs	PROPN
ftr-309	963	3	invoked	invoke	VERB
ftr-309	963	4	section	section	NOUN
ftr-309	963	5	482	482	NUM
ftr-309	963	6	to	to	PART
ftr-309	963	7	challenge	challenge	VERB
ftr-309	963	8	the	the	DET
ftr-309	963	9	manner	manner	NOUN
ftr-309	963	10	in	in	ADP
ftr-309	963	11	which	which	PRON
ftr-309	963	12	the	the	DET
ftr-309	963	13	partnership	partnership	NOUN
ftr-309	963	14	allocated	allocate	VERB
ftr-309	963	15	income	income	NOUN
ftr-309	963	16	among	among	ADP
ftr-309	963	17	the	the	DET
ftr-309	963	18	corporations	corporation	NOUN
ftr-309	963	19	,	,	PUNCT
ftr-309	963	20	and	and	CCONJ
ftr-309	963	21	the	the	DET
ftr-309	963	22	court	court	NOUN
ftr-309	963	23	held	hold	VERB
ftr-309	963	24	in	in	ADP
ftr-309	963	25	favor	favor	NOUN
ftr-309	963	26	of	of	ADP
ftr-309	963	27	the	the	DET
ftr-309	963	28	irs.15	irs.15	NOUN
ftr-309	963	29	1	1	NUM
ftr-309	963	30	furthermore	furthermore	ADV
ftr-309	963	31	,	,	PUNCT
ftr-309	963	32	although	although	SCONJ
ftr-309	963	33	rodebaugh	rodebaugh	NOUN
ftr-309	963	34	was	be	AUX
ftr-309	963	35	decided	decide	VERB
ftr-309	963	36	before	before	ADP
ftr-309	963	37	the	the	DET
ftr-309	963	38	adoption	adoption	NOUN
ftr-309	963	39	of	of	ADP
ftr-309	963	40	the	the	DET
ftr-309	963	41	current	current	ADJ
ftr-309	963	42	partnership	partnership	NOUN
ftr-309	963	43	tax	tax	NOUN
ftr-309	963	44	allocation	allocation	NOUN
ftr-309	963	45	rules	rule	NOUN
ftr-309	963	46	,	,	PUNCT
ftr-309	963	47	since	since	SCONJ
ftr-309	963	48	the	the	DET
ftr-309	963	49	adoption	adoption	NOUN
ftr-309	963	50	of	of	ADP
ftr-309	963	51	the	the	DET
ftr-309	963	52	current	current	ADJ
ftr-309	963	53	rules	rule	NOUN
ftr-309	963	54	,	,	PUNCT
ftr-309	963	55	the	the	DET
ftr-309	963	56	irs	irs	PROPN
ftr-309	963	57	has	have	AUX
ftr-309	963	58	continued	continue	VERB
ftr-309	963	59	to	to	PART
ftr-309	963	60	assert	assert	VERB
ftr-309	963	61	that	that	DET
ftr-309	963	62	section	section	NOUN
ftr-309	963	63	482	482	NUM
ftr-309	963	64	can	can	AUX
ftr-309	963	65	apply	apply	VERB
ftr-309	963	66	in	in	ADP
ftr-309	963	67	the	the	DET
ftr-309	963	68	partnership	partnership	NOUN
ftr-309	963	69	tax	tax	NOUN
ftr-309	963	70	allocation	allocation	NOUN
ftr-309	963	71	context	context	NOUN
ftr-309	963	72	.	.	PUNCT
ftr-309	964	1	152	152	NUM
ftr-309	964	2	149	149	NUM
ftr-309	964	3	.	.	PUNCT
ftr-309	964	4	regs	regs	PROPN
ftr-309	964	5	.	.	PUNCT
ftr-309	965	1	§	§	PROPN
ftr-309	965	2	1.704	1.704	NUM
ftr-309	965	3	-	-	NUM
ftr-309	965	4	l(b)(5	l(b)(5	NUM
ftr-309	965	5	)	)	PUNCT
ftr-309	965	6	,	,	PUNCT
ftr-309	965	7	ex	ex	NOUN
ftr-309	965	8	.	.	NOUN
ftr-309	965	9	28	28	NUM
ftr-309	965	10	.	.	X
ftr-309	966	1	150	150	NUM
ftr-309	966	2	.	.	PUNCT
ftr-309	967	1	33	33	NUM
ftr-309	967	2	t.c.m	t.c.m	NOUN
ftr-309	967	3	.	.	PUNCT
ftr-309	968	1	(	(	PUNCT
ftr-309	968	2	cch	cch	NOUN
ftr-309	968	3	)	)	PUNCT
ftr-309	968	4	169	169	NUM
ftr-309	968	5	,	,	PUNCT
ftr-309	968	6	t.c.m	t.c.m	INTJ
ftr-309	968	7	.	.	PUNCT
ftr-309	969	1	(	(	PUNCT
ftr-309	969	2	ria	ria	PROPN
ftr-309	969	3	)	)	PUNCT
ftr-309	969	4	t	t	PROPN
ftr-309	969	5	1974	1974	NUM
ftr-309	969	6	-	-	SYM
ftr-309	969	7	36	36	NUM
ftr-309	969	8	(	(	PUNCT
ftr-309	969	9	1974	1974	NUM
ftr-309	969	10	)	)	PUNCT
ftr-309	969	11	.	.	PUNCT
ftr-309	970	1	15	15	NUM
ftr-309	970	2	1	1	NUM
ftr-309	970	3	.	.	PUNCT
ftr-309	971	1	i	i	PRON
ftr-309	971	2	d.	d.	PROPN
ftr-309	971	3	152	152	NUM
ftr-309	971	4	.	.	PUNCT
ftr-309	972	1	see	see	VERB
ftr-309	972	2	,	,	PUNCT
ftr-309	972	3	e.g.	e.g.	ADV
ftr-309	972	4	,	,	PUNCT
ftr-309	972	5	field	field	NOUN
ftr-309	972	6	serv	serv	NOUN
ftr-309	972	7	.	.	PUNCT
ftr-309	973	1	advisory	advisory	PROPN
ftr-309	973	2	(	(	PUNCT
ftr-309	973	3	sept	sept	PROPN
ftr-309	973	4	.	.	PROPN
ftr-309	973	5	10	10	NUM
ftr-309	973	6	,	,	PUNCT
ftr-309	973	7	1993	1993	NUM
ftr-309	973	8	)	)	PUNCT
ftr-309	973	9	,	,	PUNCT
ftr-309	973	10	available	available	ADJ
ftr-309	973	11	at	at	ADP
ftr-309	973	12	1993	1993	NUM
ftr-309	973	13	wl	wl	NOUN
ftr-309	973	14	1469410	1469410	NUM
ftr-309	973	15	(	(	PUNCT
ftr-309	973	16	"	"	PUNCT
ftr-309	973	17	it	it	PRON
ftr-309	973	18	is	be	AUX
ftr-309	973	19	the	the	DET
ftr-309	973	20	service	service	NOUN
ftr-309	973	21	's	's	PART
ftr-309	973	22	position	position	NOUN
ftr-309	973	23	that	that	PRON
ftr-309	973	24	section	section	VERB
ftr-309	973	25	1.704	1.704	NUM
ftr-309	973	26	-	-	PUNCT
ftr-309	973	27	l(b)(1)(iii	l(b)(1)(iii	NOUN
ftr-309	973	28	)	)	PUNCT
ftr-309	973	29	of	of	ADP
ftr-309	973	30	the	the	DET
ftr-309	973	31	regulations	regulation	NOUN
ftr-309	973	32	permits	permit	VERB
ftr-309	973	33	the	the	DET
ftr-309	973	34	use	use	NOUN
ftr-309	973	35	of	of	ADP
ftr-309	973	36	section	section	NOUN
ftr-309	973	37	482	482	NUM
ftr-309	973	38	to	to	PART
ftr-309	973	39	reallocate	reallocate	VERB
ftr-309	973	40	a	a	DET
ftr-309	973	41	partner	partner	NOUN
ftr-309	973	42	's	's	PART
ftr-309	973	43	distributive	distributive	ADJ
ftr-309	973	44	share	share	NOUN
ftr-309	973	45	of	of	ADP
ftr-309	973	46	any	any	DET
ftr-309	973	47	partnership	partnership	NOUN
ftr-309	973	48	item	item	NOUN
ftr-309	973	49	despite	despite	SCONJ
ftr-309	973	50	the	the	DET
ftr-309	973	51	validity	validity	NOUN
ftr-309	973	52	of	of	ADP
ftr-309	973	53	the	the	DET
ftr-309	973	54	allocation	allocation	NOUN
ftr-309	973	55	under	under	ADP
ftr-309	973	56	section	section	NOUN
ftr-309	973	57	704(b	704(b	PROPN
ftr-309	973	58	)	)	PUNCT
ftr-309	973	59	,	,	PUNCT
ftr-309	973	60	provided	provide	VERB
ftr-309	973	61	that	that	SCONJ
ftr-309	973	62	the	the	DET
ftr-309	973	63	requirements	requirement	NOUN
ftr-309	973	64	of	of	ADP
ftr-309	973	65	section	section	NOUN
ftr-309	973	66	482	482	NUM
ftr-309	973	67	are	be	AUX
ftr-309	973	68	met	meet	VERB
ftr-309	973	69	.	.	PUNCT
ftr-309	974	1	"	"	PUNCT
ftr-309	974	2	)	)	PUNCT
ftr-309	974	3	;	;	PUNCT
ftr-309	974	4	field	field	NOUN
ftr-309	974	5	serv	serv	X
ftr-309	974	6	.	.	PUNCT
ftr-309	975	1	advisory	advisory	PROPN
ftr-309	975	2	(	(	PUNCT
ftr-309	975	3	may	may	AUX
ftr-309	975	4	195	195	NUM
ftr-309	975	5	florida	florida	PROPN
ftr-309	975	6	tax	tax	NOUN
ftr-309	975	7	review	review	NOUN
ftr-309	975	8	if	if	SCONJ
ftr-309	975	9	section	section	NOUN
ftr-309	975	10	482	482	NUM
ftr-309	975	11	applies	apply	VERB
ftr-309	975	12	to	to	PART
ftr-309	975	13	example	example	VERB
ftr-309	975	14	28	28	NUM
ftr-309	975	15	and	and	CCONJ
ftr-309	975	16	the	the	DET
ftr-309	975	17	facts	fact	NOUN
ftr-309	975	18	in	in	ADP
ftr-309	975	19	rodebaugh	rodebaugh	NOUN
ftr-309	975	20	,	,	PUNCT
ftr-309	975	21	it	it	PRON
ftr-309	975	22	also	also	ADV
ftr-309	975	23	could	could	AUX
ftr-309	975	24	apply	apply	VERB
ftr-309	975	25	to	to	ADP
ftr-309	975	26	the	the	DET
ftr-309	975	27	blackstone	blackstone	NOUN
ftr-309	975	28	group	group	NOUN
ftr-309	975	29	lp	lp	PROPN
ftr-309	975	30	structure	structure	NOUN
ftr-309	975	31	.	.	PUNCT
ftr-309	976	1	in	in	ADP
ftr-309	976	2	the	the	DET
ftr-309	976	3	blackstone	blackstone	NOUN
ftr-309	976	4	group	group	NOUN
ftr-309	976	5	lp	lp	PROPN
ftr-309	976	6	structure	structure	NOUN
ftr-309	976	7	,	,	PUNCT
ftr-309	976	8	the	the	DET
ftr-309	976	9	underlying	underlie	VERB
ftr-309	976	10	partnership	partnership	NOUN
ftr-309	976	11	allocates	allocate	VERB
ftr-309	976	12	income	income	NOUN
ftr-309	976	13	among	among	ADP
ftr-309	976	14	three	three	NUM
ftr-309	976	15	partners	partner	NOUN
ftr-309	976	16	blackstone	blackstone	NOUN
ftr-309	976	17	group	group	PROPN
ftr-309	976	18	lp	lp	PROPN
ftr-309	976	19	,	,	PUNCT
ftr-309	976	20	u.s	u.s	PROPN
ftr-309	976	21	.	.	PROPN
ftr-309	976	22	subsidiary	subsidiary	NOUN
ftr-309	976	23	,	,	PUNCT
ftr-309	976	24	and	and	CCONJ
ftr-309	976	25	non	non	ADJ
ftr-309	976	26	-	-	ADJ
ftr-309	976	27	u.s	u.s	PROPN
ftr-309	976	28	.	.	PROPN
ftr-309	976	29	subsidiary	subsidiary	NOUN
ftr-309	976	30	all	all	PRON
ftr-309	976	31	of	of	ADP
ftr-309	976	32	which	which	PRON
ftr-309	976	33	are	be	AUX
ftr-309	976	34	"	"	PUNCT
ftr-309	976	35	organizations	organization	NOUN
ftr-309	976	36	,	,	PUNCT
ftr-309	976	37	trades	trade	NOUN
ftr-309	976	38	,	,	PUNCT
ftr-309	976	39	or	or	CCONJ
ftr-309	976	40	business	business	NOUN
ftr-309	976	41	"	"	PUNCT
ftr-309	976	42	'	'	PUNCT
ftr-309	976	43	and	and	CCONJ
ftr-309	976	44	all	all	PRON
ftr-309	976	45	of	of	ADP
ftr-309	976	46	which	which	PRON
ftr-309	976	47	are	be	AUX
ftr-309	976	48	"	"	PUNCT
ftr-309	976	49	owned	own	VERB
ftr-309	976	50	and	and	CCONJ
ftr-309	976	51	controlled	control	VERB
ftr-309	976	52	,	,	PUNCT
ftr-309	976	53	directly	directly	ADV
ftr-309	976	54	or	or	CCONJ
ftr-309	976	55	indirectly	indirectly	ADV
ftr-309	976	56	,	,	PUNCT
ftr-309	976	57	by	by	ADP
ftr-309	976	58	the	the	DET
ftr-309	976	59	same	same	ADJ
ftr-309	976	60	interests	interest	NOUN
ftr-309	976	61	.	.	PUNCT
ftr-309	977	1	"1	"1	NOUN
ftr-309	977	2	54	54	NUM
ftr-309	977	3	thus	thus	ADV
ftr-309	977	4	,	,	PUNCT
ftr-309	977	5	even	even	ADV
ftr-309	977	6	though	though	SCONJ
ftr-309	977	7	the	the	DET
ftr-309	977	8	allocations	allocation	NOUN
ftr-309	977	9	by	by	ADP
ftr-309	977	10	the	the	DET
ftr-309	977	11	underlying	underlie	VERB
ftr-309	977	12	partnership	partnership	NOUN
ftr-309	977	13	may	may	AUX
ftr-309	977	14	literally	literally	ADV
ftr-309	977	15	comply	comply	VERB
ftr-309	977	16	with	with	ADP
ftr-309	977	17	the	the	DET
ftr-309	977	18	substantial	substantial	ADJ
ftr-309	977	19	economic	economic	ADJ
ftr-309	977	20	effect	effect	NOUN
ftr-309	977	21	rules,155	rules,155	VERB
ftr-309	977	22	the	the	DET
ftr-309	977	23	irs	irs	PROPN
ftr-309	977	24	could	could	AUX
ftr-309	977	25	challenge	challenge	VERB
ftr-309	977	26	those	those	DET
ftr-309	977	27	allocations	allocation	NOUN
ftr-309	977	28	under	under	ADP
ftr-309	977	29	section	section	NOUN
ftr-309	977	30	482	482	NUM
ftr-309	977	31	.	.	PUNCT
ftr-309	978	1	in	in	ADP
ftr-309	978	2	particular	particular	ADJ
ftr-309	978	3	,	,	PUNCT
ftr-309	978	4	the	the	DET
ftr-309	978	5	irs	irs	PROPN
ftr-309	978	6	might	might	AUX
ftr-309	978	7	reallocate	reallocate	VERB
ftr-309	978	8	additional	additional	ADJ
ftr-309	978	9	amounts	amount	NOUN
ftr-309	978	10	of	of	ADP
ftr-309	978	11	non	non	ADJ
ftr-309	978	12	-	-	ADJ
ftr-309	978	13	qualifying	qualifying	ADJ
ftr-309	978	14	carried	carry	VERB
ftr-309	978	15	interest	interest	NOUN
ftr-309	978	16	income	income	NOUN
ftr-309	978	17	directly	directly	ADV
ftr-309	978	18	to	to	ADP
ftr-309	978	19	blackstone	blackstone	PROPN
ftr-309	978	20	group	group	PROPN
ftr-309	978	21	lp	lp	PROPN
ftr-309	978	22	.	.	PUNCT
ftr-309	979	1	furthermore	furthermore	ADV
ftr-309	979	2	,	,	PUNCT
ftr-309	979	3	the	the	DET
ftr-309	979	4	irs	irs	PROPN
ftr-309	979	5	might	might	AUX
ftr-309	979	6	challenge	challenge	VERB
ftr-309	979	7	the	the	DET
ftr-309	979	8	payment	payment	NOUN
ftr-309	979	9	of	of	ADP
ftr-309	979	10	management	management	NOUN
ftr-309	979	11	fees	fee	NOUN
ftr-309	979	12	to	to	ADP
ftr-309	979	13	u.s	u.s	PROPN
ftr-309	979	14	.	.	PROPN
ftr-309	979	15	subsidiary	subsidiary	NOUN
ftr-309	979	16	under	under	ADP
ftr-309	979	17	section	section	NOUN
ftr-309	979	18	482	482	NUM
ftr-309	979	19	and	and	CCONJ
ftr-309	979	20	conclude	conclude	VERB
ftr-309	979	21	that	that	SCONJ
ftr-309	979	22	blackstone	blackstone	NOUN
ftr-309	979	23	group	group	NOUN
ftr-309	979	24	lp	lp	PROPN
ftr-309	979	25	should	should	AUX
ftr-309	979	26	be	be	AUX
ftr-309	979	27	treated	treat	VERB
ftr-309	979	28	as	as	SCONJ
ftr-309	979	29	if	if	SCONJ
ftr-309	979	30	it	it	PRON
ftr-309	979	31	received	receive	VERB
ftr-309	979	32	some	some	DET
ftr-309	979	33	portion	portion	NOUN
ftr-309	979	34	of	of	ADP
ftr-309	979	35	the	the	DET
ftr-309	979	36	management	management	NOUN
ftr-309	979	37	fees	fee	NOUN
ftr-309	979	38	directly	directly	ADV
ftr-309	979	39	.	.	PUNCT
ftr-309	980	1	management	management	NOUN
ftr-309	980	2	fee	fee	NOUN
ftr-309	980	3	income	income	NOUN
ftr-309	980	4	and	and	CCONJ
ftr-309	980	5	other	other	ADJ
ftr-309	980	6	non	non	ADJ
ftr-309	980	7	-	-	ADJ
ftr-309	980	8	qualifying	qualifying	ADJ
ftr-309	980	9	income	income	NOUN
ftr-309	980	10	reallocated	reallocate	VERB
ftr-309	980	11	to	to	ADP
ftr-309	980	12	blackstone	blackstone	NOUN
ftr-309	980	13	group	group	PROPN
ftr-309	980	14	lp	lp	PROPN
ftr-309	980	15	under	under	ADP
ftr-309	980	16	section	section	NOUN
ftr-309	980	17	482	482	NUM
ftr-309	980	18	should	should	AUX
ftr-309	980	19	be	be	AUX
ftr-309	980	20	treated	treat	VERB
ftr-309	980	21	as	as	ADP
ftr-309	980	22	non	non	ADJ
ftr-309	980	23	-	-	ADJ
ftr-309	980	24	qualifying	qualifying	ADJ
ftr-309	980	25	income	income	NOUN
ftr-309	980	26	.	.	PUNCT
ftr-309	981	1	when	when	SCONJ
ftr-309	981	2	applying	apply	VERB
ftr-309	981	3	section	section	NOUN
ftr-309	981	4	482	482	NUM
ftr-309	981	5	in	in	ADP
ftr-309	981	6	other	other	ADJ
ftr-309	981	7	contexts	contexts	NOUN
ftr-309	981	8	,	,	PUNCT
ftr-309	981	9	if	if	SCONJ
ftr-309	981	10	the	the	DET
ftr-309	981	11	irs	irs	PROPN
ftr-309	981	12	determines	determine	VERB
ftr-309	981	13	that	that	SCONJ
ftr-309	981	14	a	a	DET
ftr-309	981	15	party	party	NOUN
ftr-309	981	16	should	should	AUX
ftr-309	981	17	have	have	AUX
ftr-309	981	18	earned	earn	VERB
ftr-309	981	19	more	more	ADJ
ftr-309	981	20	income	income	NOUN
ftr-309	981	21	of	of	ADP
ftr-309	981	22	a	a	DET
ftr-309	981	23	given	give	VERB
ftr-309	981	24	character	character	NOUN
ftr-309	981	25	,	,	PUNCT
ftr-309	981	26	the	the	DET
ftr-309	981	27	additional	additional	ADJ
ftr-309	981	28	income	income	NOUN
ftr-309	981	29	the	the	DET
ftr-309	981	30	party	party	NOUN
ftr-309	981	31	must	must	AUX
ftr-309	981	32	report	report	VERB
ftr-309	981	33	is	be	AUX
ftr-309	981	34	deemed	deem	VERB
ftr-309	981	35	to	to	PART
ftr-309	981	36	have	have	VERB
ftr-309	981	37	that	that	DET
ftr-309	981	38	character	character	NOUN
ftr-309	981	39	.	.	PUNCT
ftr-309	982	1	'56	'56	NUM
ftr-309	982	2	for	for	ADP
ftr-309	982	3	instance	instance	NOUN
ftr-309	982	4	,	,	PUNCT
ftr-309	982	5	if	if	SCONJ
ftr-309	982	6	a	a	DET
ftr-309	982	7	14	14	NUM
ftr-309	982	8	,	,	PUNCT
ftr-309	982	9	1993	1993	NUM
ftr-309	982	10	)	)	PUNCT
ftr-309	982	11	,	,	PUNCT
ftr-309	982	12	available	available	ADJ
ftr-309	982	13	at	at	ADP
ftr-309	982	14	1993	1993	NUM
ftr-309	982	15	wl	wl	NOUN
ftr-309	982	16	1469438	1469438	NUM
ftr-309	982	17	(	(	PUNCT
ftr-309	982	18	making	make	VERB
ftr-309	982	19	a	a	DET
ftr-309	982	20	similar	similar	ADJ
ftr-309	982	21	statement	statement	NOUN
ftr-309	982	22	)	)	PUNCT
ftr-309	982	23	;	;	PUNCT
ftr-309	983	1	field	field	NOUN
ftr-309	983	2	serv	serv	X
ftr-309	983	3	.	.	PUNCT
ftr-309	984	1	advisory	advisory	PROPN
ftr-309	984	2	(	(	PUNCT
ftr-309	984	3	jan	jan	PROPN
ftr-309	984	4	.	.	PROPN
ftr-309	984	5	1	1	NUM
ftr-309	984	6	,	,	PUNCT
ftr-309	984	7	1993	1993	NUM
ftr-309	984	8	)	)	PUNCT
ftr-309	984	9	,	,	PUNCT
ftr-309	984	10	available	available	ADJ
ftr-309	984	11	at	at	ADP
ftr-309	984	12	1993	1993	NUM
ftr-309	984	13	wl	wl	NOUN
ftr-309	984	14	1469419	1469419	NUM
ftr-309	984	15	(	(	PUNCT
ftr-309	984	16	making	make	VERB
ftr-309	984	17	a	a	DET
ftr-309	984	18	similar	similar	ADJ
ftr-309	984	19	statement	statement	NOUN
ftr-309	984	20	)	)	PUNCT
ftr-309	984	21	.	.	PUNCT
ftr-309	985	1	the	the	DET
ftr-309	985	2	irs	irs	PROPN
ftr-309	985	3	has	have	AUX
ftr-309	985	4	also	also	ADV
ftr-309	985	5	stated	state	VERB
ftr-309	985	6	:	:	PUNCT
ftr-309	985	7	"	"	PUNCT
ftr-309	985	8	we	we	PRON
ftr-309	985	9	note	note	VERB
ftr-309	985	10	,	,	PUNCT
ftr-309	985	11	however	however	ADV
ftr-309	985	12	,	,	PUNCT
ftr-309	985	13	that	that	SCONJ
ftr-309	985	14	the	the	DET
ftr-309	985	15	scope	scope	NOUN
ftr-309	985	16	of	of	ADP
ftr-309	985	17	section	section	NOUN
ftr-309	985	18	1.704	1.704	NUM
ftr-309	985	19	-	-	SYM
ftr-309	985	20	1(b)(1)(iii	1(b)(1)(iii	NUM
ftr-309	985	21	)	)	PUNCT
ftr-309	985	22	vis	vis	X
ftr-309	985	23	-	-	PUNCT
ftr-309	985	24	a	a	DET
ftr-309	985	25	-	-	PUNCT
ftr-309	985	26	vis	vis	X
ftr-309	985	27	section	section	NOUN
ftr-309	985	28	482	482	NUM
ftr-309	985	29	has	have	AUX
ftr-309	985	30	not	not	PART
ftr-309	985	31	been	be	AUX
ftr-309	985	32	clearly	clearly	ADV
ftr-309	985	33	delineated	delineated	ADJ
ftr-309	985	34	.	.	PUNCT
ftr-309	985	35	.	.	PUNCT
ftr-309	985	36	.	.	PUNCT
ftr-309	985	37	.	.	PUNCT
ftr-309	985	38	"	"	PUNCT
ftr-309	986	1	field	field	NOUN
ftr-309	986	2	serv	serv	X
ftr-309	986	3	.	.	PUNCT
ftr-309	987	1	advisory	advisory	PROPN
ftr-309	987	2	(	(	PUNCT
ftr-309	987	3	sept	sept	PROPN
ftr-309	987	4	.	.	PROPN
ftr-309	987	5	10	10	NUM
ftr-309	987	6	,	,	PUNCT
ftr-309	987	7	1993	1993	NUM
ftr-309	987	8	)	)	PUNCT
ftr-309	987	9	,	,	PUNCT
ftr-309	987	10	available	available	ADJ
ftr-309	987	11	at	at	ADP
ftr-309	987	12	1993	1993	NUM
ftr-309	987	13	wl	wl	NOUN
ftr-309	987	14	1469410	1469410	NUM
ftr-309	987	15	.	.	PUNCT
ftr-309	988	1	153	153	NUM
ftr-309	988	2	.	.	PUNCT
ftr-309	989	1	an	an	DET
ftr-309	989	2	"	"	PUNCT
ftr-309	989	3	organization	organization	NOUN
ftr-309	989	4	"	"	PUNCT
ftr-309	989	5	includes	include	VERB
ftr-309	989	6	"	"	PUNCT
ftr-309	989	7	a	a	DET
ftr-309	989	8	sole	sole	ADJ
ftr-309	989	9	proprietorship	proprietorship	NOUN
ftr-309	989	10	,	,	PUNCT
ftr-309	989	11	a	a	DET
ftr-309	989	12	partnership	partnership	NOUN
ftr-309	989	13	,	,	PUNCT
ftr-309	989	14	a	a	DET
ftr-309	989	15	trust	trust	NOUN
ftr-309	989	16	,	,	PUNCT
ftr-309	989	17	an	an	DET
ftr-309	989	18	estate	estate	NOUN
ftr-309	989	19	,	,	PUNCT
ftr-309	989	20	an	an	DET
ftr-309	989	21	association	association	NOUN
ftr-309	989	22	,	,	PUNCT
ftr-309	989	23	or	or	CCONJ
ftr-309	989	24	a	a	DET
ftr-309	989	25	corporation	corporation	NOUN
ftr-309	989	26	.	.	PUNCT
ftr-309	989	27	"	"	PUNCT
ftr-309	989	28	regs	reg	NOUN
ftr-309	989	29	.	.	PUNCT
ftr-309	990	1	§	§	PROPN
ftr-309	990	2	1.482	1.482	NUM
ftr-309	990	3	-	-	PUNCT
ftr-309	990	4	1(i)(1	1(i)(1	NUM
ftr-309	990	5	)	)	PUNCT
ftr-309	990	6	.	.	PUNCT
ftr-309	991	1	thus	thus	ADV
ftr-309	991	2	,	,	PUNCT
ftr-309	991	3	this	this	DET
ftr-309	991	4	term	term	NOUN
ftr-309	991	5	is	be	AUX
ftr-309	991	6	broad	broad	ADJ
ftr-309	991	7	enough	enough	ADV
ftr-309	991	8	to	to	PART
ftr-309	991	9	include	include	VERB
ftr-309	991	10	all	all	DET
ftr-309	991	11	three	three	NUM
ftr-309	991	12	partners	partner	NOUN
ftr-309	991	13	.	.	PUNCT
ftr-309	992	1	154	154	NUM
ftr-309	992	2	.	.	PUNCT
ftr-309	993	1	the	the	DET
ftr-309	993	2	regulations	regulation	NOUN
ftr-309	993	3	under	under	ADP
ftr-309	993	4	section	section	NOUN
ftr-309	993	5	482	482	NUM
ftr-309	993	6	provide	provide	VERB
ftr-309	993	7	that	that	SCONJ
ftr-309	993	8	the	the	DET
ftr-309	993	9	irs	irs	PROPN
ftr-309	993	10	may	may	AUX
ftr-309	993	11	reallocate	reallocate	VERB
ftr-309	993	12	items	item	NOUN
ftr-309	993	13	among	among	ADP
ftr-309	993	14	"	"	PUNCT
ftr-309	993	15	controlled	control	VERB
ftr-309	993	16	taxpayers	taxpayer	NOUN
ftr-309	993	17	.	.	PUNCT
ftr-309	993	18	"	"	PUNCT
ftr-309	994	1	see	see	VERB
ftr-309	994	2	regs	reg	NOUN
ftr-309	994	3	.	.	PUNCT
ftr-309	995	1	§	§	PROPN
ftr-309	995	2	1.482	1.482	NUM
ftr-309	995	3	-	-	SYM
ftr-309	995	4	1(a)(2	1(a)(2	NUM
ftr-309	995	5	)	)	PUNCT
ftr-309	995	6	.	.	PUNCT
ftr-309	996	1	the	the	DET
ftr-309	996	2	regulations	regulation	NOUN
ftr-309	996	3	define	define	VERB
ftr-309	996	4	"	"	PUNCT
ftr-309	996	5	controlled	control	VERB
ftr-309	996	6	taxpayer	taxpayer	NOUN
ftr-309	996	7	"	"	PUNCT
ftr-309	996	8	to	to	PART
ftr-309	996	9	include	include	VERB
ftr-309	996	10	"	"	PUNCT
ftr-309	996	11	any	any	DET
ftr-309	996	12	one	one	NUM
ftr-309	996	13	of	of	ADP
ftr-309	996	14	two	two	NUM
ftr-309	996	15	or	or	CCONJ
ftr-309	996	16	more	more	ADJ
ftr-309	996	17	taxpayers	taxpayer	NOUN
ftr-309	996	18	[	[	X
ftr-309	996	19	which	which	PRON
ftr-309	996	20	can	can	AUX
ftr-309	996	21	include	include	VERB
ftr-309	996	22	any	any	DET
ftr-309	996	23	person	person	NOUN
ftr-309	996	24	,	,	PUNCT
ftr-309	996	25	organization	organization	NOUN
ftr-309	996	26	,	,	PUNCT
ftr-309	996	27	trade	trade	NOUN
ftr-309	996	28	or	or	CCONJ
ftr-309	996	29	business	business	NOUN
ftr-309	996	30	,	,	PUNCT
ftr-309	996	31	whether	whether	SCONJ
ftr-309	996	32	or	or	CCONJ
ftr-309	996	33	not	not	PART
ftr-309	996	34	subject	subject	VERB
ftr-309	996	35	to	to	ADP
ftr-309	996	36	tax	tax	NOUN
ftr-309	996	37	]	]	PUNCT
ftr-309	996	38	owned	own	VERB
ftr-309	996	39	or	or	CCONJ
ftr-309	996	40	controlled	control	VERB
ftr-309	996	41	directly	directly	ADV
ftr-309	996	42	or	or	CCONJ
ftr-309	996	43	indirectly	indirectly	ADV
ftr-309	996	44	by	by	ADP
ftr-309	996	45	the	the	DET
ftr-309	996	46	same	same	ADJ
ftr-309	996	47	interests	interest	NOUN
ftr-309	996	48	.	.	PUNCT
ftr-309	996	49	"	"	PUNCT
ftr-309	996	50	regs	reg	NOUN
ftr-309	996	51	.	.	PUNCT
ftr-309	997	1	§	§	PROPN
ftr-309	997	2	§	§	PROPN
ftr-309	997	3	1.482	1.482	NUM
ftr-309	997	4	-	-	SYM
ftr-309	997	5	1(i)(3	1(i)(3	NUM
ftr-309	997	6	)	)	PUNCT
ftr-309	997	7	,	,	PUNCT
ftr-309	997	8	(	(	PUNCT
ftr-309	997	9	5	5	NUM
ftr-309	997	10	)	)	PUNCT
ftr-309	997	11	.	.	PUNCT
ftr-309	998	1	this	this	DET
ftr-309	998	2	part	part	NOUN
ftr-309	998	3	of	of	ADP
ftr-309	998	4	the	the	DET
ftr-309	998	5	definition	definition	NOUN
ftr-309	998	6	includes	include	VERB
ftr-309	998	7	u.s	u.s	PROPN
ftr-309	998	8	.	.	PROPN
ftr-309	998	9	subsidiary	subsidiary	NOUN
ftr-309	998	10	and	and	CCONJ
ftr-309	998	11	non	non	ADJ
ftr-309	998	12	-	-	ADJ
ftr-309	998	13	u.s	u.s	PROPN
ftr-309	998	14	.	.	PROPN
ftr-309	998	15	subsidiary	subsidiary	NOUN
ftr-309	998	16	as	as	SCONJ
ftr-309	998	17	both	both	PRON
ftr-309	998	18	are	be	AUX
ftr-309	998	19	wholly	wholly	ADV
ftr-309	998	20	-	-	PUNCT
ftr-309	998	21	owned	own	VERB
ftr-309	998	22	by	by	ADP
ftr-309	998	23	blackstone	blackstone	PROPN
ftr-309	998	24	group	group	PROPN
ftr-309	998	25	lp	lp	PROPN
ftr-309	998	26	.	.	PUNCT
ftr-309	999	1	the	the	DET
ftr-309	999	2	regulations	regulation	NOUN
ftr-309	999	3	further	far	ADV
ftr-309	999	4	state	state	NOUN
ftr-309	999	5	that	that	SCONJ
ftr-309	999	6	"	"	PUNCT
ftr-309	999	7	controlled	controlled	ADJ
ftr-309	999	8	taxpayer	taxpayer	NOUN
ftr-309	999	9	"	"	PUNCT
ftr-309	999	10	also	also	ADV
ftr-309	999	11	includes	include	VERB
ftr-309	999	12	"	"	PUNCT
ftr-309	999	13	the	the	DET
ftr-309	999	14	taxpayer	taxpayer	NOUN
ftr-309	999	15	that	that	PRON
ftr-309	999	16	owns	own	VERB
ftr-309	999	17	or	or	CCONJ
ftr-309	999	18	controls	control	VERB
ftr-309	999	19	the	the	DET
ftr-309	999	20	other	other	ADJ
ftr-309	999	21	taxpayers	taxpayer	NOUN
ftr-309	999	22	.	.	PUNCT
ftr-309	999	23	"	"	PUNCT
ftr-309	1000	1	regs	reg	NOUN
ftr-309	1000	2	.	.	PUNCT
ftr-309	1001	1	§	§	PROPN
ftr-309	1001	2	1.482	1.482	NUM
ftr-309	1001	3	-	-	NUM
ftr-309	1001	4	1(i)(5	1(i)(5	NUM
ftr-309	1001	5	)	)	PUNCT
ftr-309	1001	6	.	.	PUNCT
ftr-309	1002	1	thus	thus	ADV
ftr-309	1002	2	,	,	PUNCT
ftr-309	1002	3	blackstone	blackstone	NOUN
ftr-309	1002	4	group	group	PROPN
ftr-309	1002	5	lp	lp	PROPN
ftr-309	1002	6	is	be	AUX
ftr-309	1002	7	also	also	ADV
ftr-309	1002	8	a	a	DET
ftr-309	1002	9	"	"	PUNCT
ftr-309	1002	10	controlled	control	VERB
ftr-309	1002	11	taxpayer	taxpayer	NOUN
ftr-309	1002	12	,	,	PUNCT
ftr-309	1002	13	"	"	PUNCT
ftr-309	1002	14	and	and	CCONJ
ftr-309	1002	15	the	the	DET
ftr-309	1002	16	irs	irs	PROPN
ftr-309	1002	17	can	can	AUX
ftr-309	1002	18	reallocate	reallocate	VERB
ftr-309	1002	19	income	income	NOUN
ftr-309	1002	20	among	among	ADP
ftr-309	1002	21	blackstone	blackstone	NOUN
ftr-309	1002	22	group	group	PROPN
ftr-309	1002	23	lp	lp	PROPN
ftr-309	1002	24	,	,	PUNCT
ftr-309	1002	25	u.s	u.s	PROPN
ftr-309	1002	26	.	.	PROPN
ftr-309	1002	27	subsidiary	subsidiary	NOUN
ftr-309	1002	28	,	,	PUNCT
ftr-309	1002	29	and	and	CCONJ
ftr-309	1002	30	non	non	ADJ
ftr-309	1002	31	-	-	ADJ
ftr-309	1002	32	u.s	u.s	PROPN
ftr-309	1002	33	.	.	PROPN
ftr-309	1002	34	subsidiary	subsidiary	NOUN
ftr-309	1002	35	under	under	ADP
ftr-309	1002	36	section	section	NOUN
ftr-309	1002	37	482	482	NUM
ftr-309	1002	38	.	.	PROPN
ftr-309	1002	39	155	155	NUM
ftr-309	1002	40	.	.	PUNCT
ftr-309	1003	1	see	see	VERB
ftr-309	1003	2	supra	supra	PROPN
ftr-309	1003	3	part	part	PROPN
ftr-309	1003	4	iii.b	iii.b	PROPN
ftr-309	1003	5	.	.	PROPN
ftr-309	1003	6	156	156	NUM
ftr-309	1003	7	.	.	PUNCT
ftr-309	1004	1	see	see	VERB
ftr-309	1004	2	,	,	PUNCT
ftr-309	1004	3	e.g.	e.g.	ADV
ftr-309	1004	4	,	,	PUNCT
ftr-309	1004	5	krueger	krueger	PROPN
ftr-309	1004	6	co.	co.	PROPN
ftr-309	1005	1	v.	v.	PROPN
ftr-309	1005	2	commissioner	commissioner	PROPN
ftr-309	1005	3	,	,	PUNCT
ftr-309	1005	4	79	79	NUM
ftr-309	1005	5	t.c	t.c	PROPN
ftr-309	1005	6	.	.	PROPN
ftr-309	1005	7	65	65	NUM
ftr-309	1005	8	(	(	PUNCT
ftr-309	1005	9	1982	1982	NUM
ftr-309	1005	10	)	)	PUNCT
ftr-309	1005	11	;	;	PUNCT
ftr-309	1006	1	proctor	proctor	NOUN
ftr-309	1006	2	and	and	CCONJ
ftr-309	1006	3	gamble	gamble	PROPN
ftr-309	1006	4	co.	co.	PROPN
ftr-309	1006	5	v.	v.	ADP
ftr-309	1006	6	commissioner	commissioner	PROPN
ftr-309	1006	7	,	,	PUNCT
ftr-309	1006	8	95	95	NUM
ftr-309	1006	9	t.c	t.c	PROPN
ftr-309	1006	10	.	.	PROPN
ftr-309	1006	11	323	323	NUM
ftr-309	1006	12	(	(	PUNCT
ftr-309	1006	13	1990	1990	NUM
ftr-309	1006	14	)	)	PUNCT
ftr-309	1006	15	(	(	PUNCT
ftr-309	1006	16	irs	irs	PROPN
ftr-309	1006	17	argued	argue	VERB
ftr-309	1006	18	that	that	SCONJ
ftr-309	1006	19	when	when	SCONJ
ftr-309	1006	20	a	a	DET
ftr-309	1006	21	corporation	corporation	NOUN
ftr-309	1006	22	should	should	AUX
ftr-309	1006	23	have	have	VERB
ftr-309	1006	24	additional	additional	ADJ
ftr-309	1006	25	royalty	royalty	NOUN
ftr-309	1006	26	income	income	NOUN
ftr-309	1006	27	under	under	ADP
ftr-309	1006	28	section	section	NOUN
ftr-309	1006	29	482	482	NUM
ftr-309	1006	30	,	,	PUNCT
ftr-309	1006	31	the	the	DET
ftr-309	1006	32	additional	additional	ADJ
ftr-309	1006	33	income	income	NOUN
ftr-309	1006	34	should	should	AUX
ftr-309	1006	35	be	be	AUX
ftr-309	1006	36	treated	treat	VERB
ftr-309	1006	37	as	as	ADP
ftr-309	1006	38	royalty	royalty	NOUN
ftr-309	1006	39	income	income	NOUN
ftr-309	1006	40	for	for	ADP
ftr-309	1006	41	purposes	purpose	NOUN
ftr-309	1006	42	of	of	ADP
ftr-309	1006	43	the	the	DET
ftr-309	1006	44	subpart	subpart	NOUN
ftr-309	1006	45	f	f	PROPN
ftr-309	1006	46	rules	rule	NOUN
ftr-309	1006	47	;	;	PUNCT
ftr-309	1006	48	although	although	SCONJ
ftr-309	1006	49	the	the	DET
ftr-309	1006	50	court	court	NOUN
ftr-309	1006	51	held	hold	VERB
ftr-309	1006	52	in	in	ADP
ftr-309	1006	53	favor	favor	NOUN
ftr-309	1006	54	of	of	ADP
ftr-309	1006	55	the	the	DET
ftr-309	1006	56	taxpayer	taxpayer	NOUN
ftr-309	1006	57	,	,	PUNCT
ftr-309	1006	58	it	it	PRON
ftr-309	1006	59	did	do	VERB
ftr-309	1006	60	so	so	ADV
ftr-309	1006	61	on	on	ADP
ftr-309	1006	62	other	other	ADJ
ftr-309	1006	63	grounds	ground	NOUN
ftr-309	1006	64	and	and	CCONJ
ftr-309	1006	65	concluded	conclude	VERB
ftr-309	1006	66	section	section	NOUN
ftr-309	1006	67	482	482	NUM
ftr-309	1006	68	should	should	AUX
ftr-309	1006	69	not	not	PART
ftr-309	1006	70	require	require	VERB
ftr-309	1006	71	the	the	DET
ftr-309	1006	72	taxpayer	taxpayer	NOUN
ftr-309	1006	73	to	to	PART
ftr-309	1006	74	report	report	VERB
ftr-309	1006	75	additional	additional	ADJ
ftr-309	1006	76	income	income	NOUN
ftr-309	1006	77	at	at	ADP
ftr-309	1006	78	196	196	NUM
ftr-309	1006	79	[	[	X
ftr-309	1006	80	vol	vol	NOUN
ftr-309	1006	81	.	.	PUNCT
ftr-309	1006	82	14:5	14:5	NUM
ftr-309	1006	83	2013	2013	NUM
ftr-309	1006	84	]	]	PUNCT
ftr-309	1006	85	was	be	AUX
ftr-309	1006	86	blackstone	blackstone	NOUN
ftr-309	1006	87	's	's	PART
ftr-309	1006	88	initial	initial	ADJ
ftr-309	1006	89	public	public	ADJ
ftr-309	1006	90	offering	offering	NOUN
ftr-309	1006	91	too	too	ADV
ftr-309	1006	92	good	good	ADJ
ftr-309	1006	93	to	to	PART
ftr-309	1006	94	be	be	AUX
ftr-309	1006	95	true	true	ADJ
ftr-309	1006	96	?	?	PUNCT
ftr-309	1007	1	party	party	NOUN
ftr-309	1007	2	is	be	AUX
ftr-309	1007	3	required	require	VERB
ftr-309	1007	4	to	to	PART
ftr-309	1007	5	report	report	VERB
ftr-309	1007	6	additional	additional	ADJ
ftr-309	1007	7	interest	interest	NOUN
ftr-309	1007	8	income	income	NOUN
ftr-309	1007	9	,	,	PUNCT
ftr-309	1007	10	the	the	DET
ftr-309	1007	11	party	party	NOUN
ftr-309	1007	12	is	be	AUX
ftr-309	1007	13	treated	treat	VERB
ftr-309	1007	14	as	as	ADP
ftr-309	1007	15	earning	earn	VERB
ftr-309	1007	16	additional	additional	ADJ
ftr-309	1007	17	interest	interest	NOUN
ftr-309	1007	18	income	income	NOUN
ftr-309	1007	19	.	.	PUNCT
ftr-309	1008	1	57	57	NUM
ftr-309	1008	2	as	as	ADP
ftr-309	1008	3	a	a	DET
ftr-309	1008	4	result	result	NOUN
ftr-309	1008	5	,	,	PUNCT
ftr-309	1008	6	if	if	SCONJ
ftr-309	1008	7	the	the	DET
ftr-309	1008	8	irs	irs	PROPN
ftr-309	1008	9	invokes	invoke	VERB
ftr-309	1008	10	section	section	NOUN
ftr-309	1008	11	482	482	NUM
ftr-309	1008	12	to	to	PART
ftr-309	1008	13	re	re	VERB
ftr-309	1008	14	-	-	VERB
ftr-309	1008	15	allocate	allocate	ADJ
ftr-309	1008	16	additional	additional	ADJ
ftr-309	1008	17	management	management	NOUN
ftr-309	1008	18	fee	fee	NOUN
ftr-309	1008	19	income	income	NOUN
ftr-309	1008	20	and	and	CCONJ
ftr-309	1008	21	other	other	ADJ
ftr-309	1008	22	nonqualifying	nonqualifying	NOUN
ftr-309	1008	23	income	income	NOUN
ftr-309	1008	24	directly	directly	ADV
ftr-309	1008	25	to	to	ADP
ftr-309	1008	26	blackstone	blackstone	PROPN
ftr-309	1008	27	group	group	PROPN
ftr-309	1008	28	lp	lp	PROPN
ftr-309	1008	29	,	,	PUNCT
ftr-309	1008	30	blackstone	blackstone	NOUN
ftr-309	1008	31	group	group	NOUN
ftr-309	1008	32	lp	lp	PROPN
ftr-309	1008	33	would	would	AUX
ftr-309	1008	34	be	be	AUX
ftr-309	1008	35	treated	treat	VERB
ftr-309	1008	36	as	as	ADP
ftr-309	1008	37	earning	earn	VERB
ftr-309	1008	38	non	non	ADJ
ftr-309	1008	39	-	-	ADJ
ftr-309	1008	40	qualifying	qualifying	ADJ
ftr-309	1008	41	income	income	NOUN
ftr-309	1008	42	.	.	PUNCT
ftr-309	1009	1	thus	thus	ADV
ftr-309	1009	2	,	,	PUNCT
ftr-309	1009	3	depending	depend	VERB
ftr-309	1009	4	on	on	ADP
ftr-309	1009	5	the	the	DET
ftr-309	1009	6	amount	amount	NOUN
ftr-309	1009	7	of	of	ADP
ftr-309	1009	8	income	income	NOUN
ftr-309	1009	9	re	re	VERB
ftr-309	1009	10	-	-	VERB
ftr-309	1009	11	allocated	allocate	VERB
ftr-309	1009	12	to	to	ADP
ftr-309	1009	13	it	it	PRON
ftr-309	1009	14	,	,	PUNCT
ftr-309	1009	15	blackstone	blackstone	NOUN
ftr-309	1009	16	group	group	NOUN
ftr-309	1009	17	lp	lp	PROPN
ftr-309	1009	18	could	could	AUX
ftr-309	1009	19	fail	fail	VERB
ftr-309	1009	20	to	to	PART
ftr-309	1009	21	meet	meet	VERB
ftr-309	1009	22	the	the	DET
ftr-309	1009	23	requirements	requirement	NOUN
ftr-309	1009	24	of	of	ADP
ftr-309	1009	25	the	the	DET
ftr-309	1009	26	90	90	NUM
ftr-309	1009	27	percent	percent	NOUN
ftr-309	1009	28	gross	gross	ADJ
ftr-309	1009	29	income	income	NOUN
ftr-309	1009	30	exception	exception	NOUN
ftr-309	1009	31	so	so	SCONJ
ftr-309	1009	32	that	that	SCONJ
ftr-309	1009	33	it	it	PRON
ftr-309	1009	34	would	would	AUX
ftr-309	1009	35	be	be	AUX
ftr-309	1009	36	treated	treat	VERB
ftr-309	1009	37	as	as	ADP
ftr-309	1009	38	a	a	DET
ftr-309	1009	39	corporation	corporation	NOUN
ftr-309	1009	40	for	for	ADP
ftr-309	1009	41	tax	tax	NOUN
ftr-309	1009	42	purposes	purpose	NOUN
ftr-309	1009	43	.	.	PUNCT
ftr-309	1010	1	vi	vi	AUX
ftr-309	1010	2	.	.	NOUN
ftr-309	1010	3	responding	respond	VERB
ftr-309	1010	4	to	to	ADP
ftr-309	1010	5	possible	possible	ADJ
ftr-309	1010	6	objections	objection	NOUN
ftr-309	1010	7	despite	despite	SCONJ
ftr-309	1010	8	the	the	DET
ftr-309	1010	9	availability	availability	NOUN
ftr-309	1010	10	of	of	ADP
ftr-309	1010	11	means	mean	NOUN
ftr-309	1010	12	to	to	PART
ftr-309	1010	13	challenge	challenge	VERB
ftr-309	1010	14	the	the	DET
ftr-309	1010	15	results	result	NOUN
ftr-309	1010	16	claimed	claim	VERB
ftr-309	1010	17	by	by	ADP
ftr-309	1010	18	blackstone	blackstone	PROPN
ftr-309	1010	19	group	group	PROPN
ftr-309	1010	20	lp	lp	PROPN
ftr-309	1010	21	,	,	PUNCT
ftr-309	1010	22	one	one	PRON
ftr-309	1010	23	might	might	AUX
ftr-309	1010	24	argue	argue	VERB
ftr-309	1010	25	that	that	SCONJ
ftr-309	1010	26	the	the	DET
ftr-309	1010	27	irs	irs	PROPN
ftr-309	1010	28	should	should	AUX
ftr-309	1010	29	refrain	refrain	VERB
ftr-309	1010	30	from	from	ADP
ftr-309	1010	31	initiating	initiate	VERB
ftr-309	1010	32	a	a	DET
ftr-309	1010	33	challenge	challenge	NOUN
ftr-309	1010	34	for	for	ADP
ftr-309	1010	35	several	several	ADJ
ftr-309	1010	36	reasons	reason	NOUN
ftr-309	1010	37	(	(	PUNCT
ftr-309	1010	38	each	each	PRON
ftr-309	1010	39	of	of	ADP
ftr-309	1010	40	which	which	PRON
ftr-309	1010	41	is	be	AUX
ftr-309	1010	42	described	describe	VERB
ftr-309	1010	43	and	and	CCONJ
ftr-309	1010	44	evaluated	evaluate	VERB
ftr-309	1010	45	below	below	ADV
ftr-309	1010	46	)	)	PUNCT
ftr-309	1010	47	.	.	PUNCT
ftr-309	1010	48	'	'	PUNCT
ftr-309	1011	1	as	as	SCONJ
ftr-309	1011	2	discussed	discuss	VERB
ftr-309	1011	3	in	in	ADP
ftr-309	1011	4	the	the	DET
ftr-309	1011	5	following	following	NOUN
ftr-309	1011	6	,	,	PUNCT
ftr-309	1011	7	none	none	NOUN
ftr-309	1011	8	of	of	ADP
ftr-309	1011	9	the	the	DET
ftr-309	1011	10	potential	potential	ADJ
ftr-309	1011	11	objections	objection	NOUN
ftr-309	1011	12	justify	justify	VERB
ftr-309	1011	13	inaction	inaction	NOUN
ftr-309	1011	14	by	by	ADP
ftr-309	1011	15	the	the	DET
ftr-309	1011	16	irs	irs	PROPN
ftr-309	1011	17	.	.	PUNCT
ftr-309	1012	1	all	all	PRON
ftr-309	1012	2	)	)	PUNCT
ftr-309	1012	3	;	;	PUNCT
ftr-309	1012	4	regs	reg	NOUN
ftr-309	1012	5	.	.	PUNCT
ftr-309	1013	1	§	§	PROPN
ftr-309	1013	2	1.482	1.482	NUM
ftr-309	1013	3	-	-	PUNCT
ftr-309	1013	4	l(g)(2)(ii	l(g)(2)(ii	NOUN
ftr-309	1013	5	)	)	PUNCT
ftr-309	1013	6	(	(	PUNCT
ftr-309	1013	7	stating	state	VERB
ftr-309	1013	8	that	that	SCONJ
ftr-309	1013	9	applying	apply	VERB
ftr-309	1013	10	section	section	NOUN
ftr-309	1013	11	482	482	NUM
ftr-309	1013	12	could	could	AUX
ftr-309	1013	13	cause	cause	VERB
ftr-309	1013	14	a	a	DET
ftr-309	1013	15	corporation	corporation	NOUN
ftr-309	1013	16	to	to	PART
ftr-309	1013	17	earn	earn	VERB
ftr-309	1013	18	additional	additional	ADJ
ftr-309	1013	19	subpart	subpart	ADJ
ftr-309	1013	20	f	f	PROPN
ftr-309	1013	21	income	income	NOUN
ftr-309	1013	22	)	)	PUNCT
ftr-309	1013	23	;	;	PUNCT
ftr-309	1013	24	rev	rev	PROPN
ftr-309	1013	25	.	.	PROPN
ftr-309	1014	1	rul	rul	NOUN
ftr-309	1014	2	.	.	PUNCT
ftr-309	1015	1	78	78	NUM
ftr-309	1015	2	-	-	SYM
ftr-309	1015	3	133	133	NUM
ftr-309	1015	4	,	,	PUNCT
ftr-309	1015	5	1978	1978	NUM
ftr-309	1015	6	-	-	SYM
ftr-309	1015	7	1	1	NUM
ftr-309	1015	8	c.b	c.b	PROPN
ftr-309	1015	9	.	.	PROPN
ftr-309	1015	10	171	171	NUM
ftr-309	1015	11	(	(	PUNCT
ftr-309	1015	12	concluding	conclude	VERB
ftr-309	1015	13	that	that	SCONJ
ftr-309	1015	14	a	a	DET
ftr-309	1015	15	corporation	corporation	NOUN
ftr-309	1015	16	that	that	PRON
ftr-309	1015	17	failed	fail	VERB
ftr-309	1015	18	to	to	PART
ftr-309	1015	19	charge	charge	VERB
ftr-309	1015	20	interest	interest	NOUN
ftr-309	1015	21	on	on	ADP
ftr-309	1015	22	loans	loan	NOUN
ftr-309	1015	23	made	make	VERB
ftr-309	1015	24	to	to	ADP
ftr-309	1015	25	related	related	ADJ
ftr-309	1015	26	corporations	corporation	NOUN
ftr-309	1015	27	should	should	AUX
ftr-309	1015	28	have	have	VERB
ftr-309	1015	29	additional	additional	ADJ
ftr-309	1015	30	income	income	NOUN
ftr-309	1015	31	under	under	ADP
ftr-309	1015	32	section	section	NOUN
ftr-309	1015	33	482	482	NUM
ftr-309	1015	34	and	and	CCONJ
ftr-309	1015	35	the	the	DET
ftr-309	1015	36	additional	additional	ADJ
ftr-309	1015	37	income	income	NOUN
ftr-309	1015	38	should	should	AUX
ftr-309	1015	39	be	be	AUX
ftr-309	1015	40	interest	interest	NOUN
ftr-309	1015	41	income	income	NOUN
ftr-309	1015	42	for	for	ADP
ftr-309	1015	43	purposes	purpose	NOUN
ftr-309	1015	44	of	of	ADP
ftr-309	1015	45	applying	apply	VERB
ftr-309	1015	46	the	the	DET
ftr-309	1015	47	personal	personal	ADJ
ftr-309	1015	48	holding	hold	VERB
ftr-309	1015	49	company	company	NOUN
ftr-309	1015	50	tax	tax	NOUN
ftr-309	1015	51	provisions	provision	NOUN
ftr-309	1015	52	)	)	PUNCT
ftr-309	1015	53	.	.	PUNCT
ftr-309	1016	1	157	157	NUM
ftr-309	1016	2	.	.	PUNCT
ftr-309	1017	1	see	see	VERB
ftr-309	1017	2	,	,	PUNCT
ftr-309	1017	3	e.g.	e.g.	ADV
ftr-309	1017	4	,	,	PUNCT
ftr-309	1017	5	krueger	krueger	PROPN
ftr-309	1017	6	co.	co.	PROPN
ftr-309	1017	7	,	,	PUNCT
ftr-309	1017	8	79	79	NUM
ftr-309	1017	9	t.c	t.c	PROPN
ftr-309	1017	10	.	.	PROPN
ftr-309	1017	11	65	65	NUM
ftr-309	1017	12	;	;	PUNCT
ftr-309	1017	13	rev	rev	PROPN
ftr-309	1017	14	.	.	PROPN
ftr-309	1018	1	rul	rul	NOUN
ftr-309	1018	2	.	.	PUNCT
ftr-309	1019	1	78	78	NUM
ftr-309	1019	2	-	-	SYM
ftr-309	1019	3	133	133	NUM
ftr-309	1019	4	,	,	PUNCT
ftr-309	1019	5	1978	1978	NUM
ftr-309	1019	6	-	-	SYM
ftr-309	1019	7	1	1	NUM
ftr-309	1019	8	c.b	c.b	PROPN
ftr-309	1019	9	.	.	PROPN
ftr-309	1019	10	171	171	NUM
ftr-309	1019	11	.	.	PUNCT
ftr-309	1020	1	158	158	NUM
ftr-309	1020	2	.	.	PUNCT
ftr-309	1021	1	one	one	PRON
ftr-309	1021	2	might	might	AUX
ftr-309	1021	3	also	also	ADV
ftr-309	1021	4	argue	argue	VERB
ftr-309	1021	5	that	that	SCONJ
ftr-309	1021	6	the	the	DET
ftr-309	1021	7	blackstone	blackstone	NOUN
ftr-309	1021	8	group	group	NOUN
ftr-309	1021	9	structure	structure	NOUN
ftr-309	1021	10	is	be	AUX
ftr-309	1021	11	no	no	ADV
ftr-309	1021	12	different	different	ADJ
ftr-309	1021	13	than	than	ADP
ftr-309	1021	14	the	the	DET
ftr-309	1021	15	blocker	blocker	NOUN
ftr-309	1021	16	corporation	corporation	NOUN
ftr-309	1021	17	structure	structure	NOUN
ftr-309	1021	18	used	use	VERB
ftr-309	1021	19	by	by	ADP
ftr-309	1021	20	many	many	ADJ
ftr-309	1021	21	tax	tax	NOUN
ftr-309	1021	22	-	-	PUNCT
ftr-309	1021	23	exempt	exempt	ADJ
ftr-309	1021	24	entities	entity	NOUN
ftr-309	1021	25	when	when	SCONJ
ftr-309	1021	26	investing	invest	VERB
ftr-309	1021	27	in	in	ADP
ftr-309	1021	28	real	real	ADJ
ftr-309	1021	29	estate	estate	NOUN
ftr-309	1021	30	funds	fund	NOUN
ftr-309	1021	31	,	,	PUNCT
ftr-309	1021	32	hedge	hedge	NOUN
ftr-309	1021	33	funds	fund	NOUN
ftr-309	1021	34	,	,	PUNCT
ftr-309	1021	35	and	and	CCONJ
ftr-309	1021	36	private	private	ADJ
ftr-309	1021	37	equity	equity	NOUN
ftr-309	1021	38	funds	fund	NOUN
ftr-309	1021	39	.	.	PUNCT
ftr-309	1022	1	for	for	ADP
ftr-309	1022	2	further	further	ADJ
ftr-309	1022	3	discussion	discussion	NOUN
ftr-309	1022	4	of	of	ADP
ftr-309	1022	5	this	this	DET
ftr-309	1022	6	structure	structure	NOUN
ftr-309	1022	7	,	,	PUNCT
ftr-309	1022	8	see	see	VERB
ftr-309	1022	9	emily	emily	PROPN
ftr-309	1022	10	cauble	cauble	PROPN
ftr-309	1022	11	,	,	PUNCT
ftr-309	1022	12	harvard	harvard	PROPN
ftr-309	1022	13	,	,	PUNCT
ftr-309	1022	14	hedge	hedge	NOUN
ftr-309	1022	15	funds	fund	NOUN
ftr-309	1022	16	and	and	CCONJ
ftr-309	1022	17	tax	tax	NOUN
ftr-309	1022	18	havens	haven	NOUN
ftr-309	1022	19	:	:	PUNCT
ftr-309	1022	20	reforming	reform	VERB
ftr-309	1022	21	the	the	DET
ftr-309	1022	22	tax	tax	NOUN
ftr-309	1022	23	treatment	treatment	NOUN
ftr-309	1022	24	of	of	ADP
ftr-309	1022	25	investment	investment	NOUN
ftr-309	1022	26	income	income	NOUN
ftr-309	1022	27	earned	earn	VERB
ftr-309	1022	28	by	by	ADP
ftr-309	1022	29	taxexempt	taxexempt	ADJ
ftr-309	1022	30	entities	entity	NOUN
ftr-309	1022	31	,	,	PUNCT
ftr-309	1022	32	29	29	NUM
ftr-309	1022	33	va	va	NOUN
ftr-309	1022	34	.	.	PUNCT
ftr-309	1022	35	tax	tax	PROPN
ftr-309	1022	36	rev	rev	PROPN
ftr-309	1022	37	.	.	PROPN
ftr-309	1022	38	695	695	NUM
ftr-309	1022	39	(	(	PUNCT
ftr-309	1022	40	2010	2010	NUM
ftr-309	1022	41	)	)	PUNCT
ftr-309	1022	42	.	.	PUNCT
ftr-309	1023	1	this	this	DET
ftr-309	1023	2	structure	structure	NOUN
ftr-309	1023	3	has	have	AUX
ftr-309	1023	4	been	be	AUX
ftr-309	1023	5	sanctioned	sanction	VERB
ftr-309	1023	6	by	by	ADP
ftr-309	1023	7	the	the	DET
ftr-309	1023	8	irs	irs	PROPN
ftr-309	1023	9	in	in	ADP
ftr-309	1023	10	private	private	ADJ
ftr-309	1023	11	letter	letter	NOUN
ftr-309	1023	12	rulings	ruling	NOUN
ftr-309	1023	13	.	.	PUNCT
ftr-309	1024	1	see	see	VERB
ftr-309	1024	2	priv	priv	PROPN
ftr-309	1024	3	.	.	PUNCT
ftr-309	1025	1	ltr	ltr	PROPN
ftr-309	1025	2	.	.	PUNCT
ftr-309	1025	3	rul	rul	PROPN
ftr-309	1025	4	.	.	PUNCT
ftr-309	1026	1	2002	2002	NUM
ftr-309	1026	2	-	-	SYM
ftr-309	1026	3	51	51	NUM
ftr-309	1026	4	-	-	PUNCT
ftr-309	1026	5	016	016	NUM
ftr-309	1026	6	(	(	PUNCT
ftr-309	1026	7	dec	dec	PROPN
ftr-309	1026	8	.	.	PROPN
ftr-309	1026	9	30	30	NUM
ftr-309	1026	10	,	,	PUNCT
ftr-309	1026	11	2002	2002	NUM
ftr-309	1026	12	)	)	PUNCT
ftr-309	1026	13	;	;	PUNCT
ftr-309	1026	14	priv	priv	NOUN
ftr-309	1026	15	.	.	PUNCT
ftr-309	1027	1	ltr	ltr	PROPN
ftr-309	1027	2	.	.	PUNCT
ftr-309	1027	3	rul	rul	PROPN
ftr-309	1027	4	.	.	PUNCT
ftr-309	1028	1	2002	2002	NUM
ftr-309	1028	2	-	-	SYM
ftr-309	1028	3	51	51	NUM
ftr-309	1028	4	-	-	PUNCT
ftr-309	1028	5	018	018	NUM
ftr-309	1028	6	(	(	PUNCT
ftr-309	1028	7	dec	dec	PROPN
ftr-309	1028	8	.	.	PROPN
ftr-309	1028	9	20	20	NUM
ftr-309	1028	10	,	,	PUNCT
ftr-309	1028	11	2002	2002	NUM
ftr-309	1028	12	)	)	PUNCT
ftr-309	1028	13	.	.	PUNCT
ftr-309	1029	1	the	the	DET
ftr-309	1029	2	blackstone	blackstone	NOUN
ftr-309	1029	3	group	group	NOUN
ftr-309	1029	4	structure	structure	NOUN
ftr-309	1029	5	,	,	PUNCT
ftr-309	1029	6	however	however	ADV
ftr-309	1029	7	,	,	PUNCT
ftr-309	1029	8	is	be	AUX
ftr-309	1029	9	different	different	ADJ
ftr-309	1029	10	than	than	ADP
ftr-309	1029	11	the	the	DET
ftr-309	1029	12	blocker	blocker	NOUN
ftr-309	1029	13	corporation	corporation	NOUN
ftr-309	1029	14	structure	structure	NOUN
ftr-309	1029	15	used	use	VERB
ftr-309	1029	16	in	in	ADP
ftr-309	1029	17	the	the	DET
ftr-309	1029	18	private	private	ADJ
ftr-309	1029	19	letter	letter	NOUN
ftr-309	1029	20	rulings	ruling	NOUN
ftr-309	1029	21	.	.	PUNCT
ftr-309	1030	1	in	in	ADP
ftr-309	1030	2	the	the	DET
ftr-309	1030	3	private	private	ADJ
ftr-309	1030	4	letter	letter	NOUN
ftr-309	1030	5	rulings	ruling	NOUN
ftr-309	1030	6	,	,	PUNCT
ftr-309	1030	7	a	a	DET
ftr-309	1030	8	charitable	charitable	ADJ
ftr-309	1030	9	remainder	remainder	NOUN
ftr-309	1030	10	trust	trust	NOUN
ftr-309	1030	11	indirectly	indirectly	ADV
ftr-309	1030	12	owned	own	VERB
ftr-309	1030	13	an	an	DET
ftr-309	1030	14	interest	interest	NOUN
ftr-309	1030	15	in	in	ADP
ftr-309	1030	16	a	a	DET
ftr-309	1030	17	blocker	blocker	NOUN
ftr-309	1030	18	corporation	corporation	NOUN
ftr-309	1030	19	that	that	PRON
ftr-309	1030	20	,	,	PUNCT
ftr-309	1030	21	in	in	ADP
ftr-309	1030	22	turn	turn	NOUN
ftr-309	1030	23	,	,	PUNCT
ftr-309	1030	24	owned	own	VERB
ftr-309	1030	25	an	an	DET
ftr-309	1030	26	interest	interest	NOUN
ftr-309	1030	27	in	in	ADP
ftr-309	1030	28	a	a	DET
ftr-309	1030	29	partnership	partnership	NOUN
ftr-309	1030	30	(	(	PUNCT
ftr-309	1030	31	"	"	PUNCT
ftr-309	1030	32	lower	low	ADJ
ftr-309	1030	33	-	-	PUNCT
ftr-309	1030	34	tier	tier	NOUN
ftr-309	1030	35	partnership	partnership	NOUN
ftr-309	1030	36	"	"	PUNCT
ftr-309	1030	37	)	)	PUNCT
ftr-309	1030	38	.	.	PUNCT
ftr-309	1031	1	all	all	DET
ftr-309	1031	2	income	income	NOUN
ftr-309	1031	3	that	that	SCONJ
ftr-309	1031	4	the	the	DET
ftr-309	1031	5	charitable	charitable	ADJ
ftr-309	1031	6	remainder	remainder	NOUN
ftr-309	1031	7	trust	trust	NOUN
ftr-309	1031	8	received	receive	VERB
ftr-309	1031	9	from	from	ADP
ftr-309	1031	10	lower	low	ADJ
ftr-309	1031	11	-	-	PUNCT
ftr-309	1031	12	tier	tier	NOUN
ftr-309	1031	13	partnership	partnership	NOUN
ftr-309	1031	14	was	be	AUX
ftr-309	1031	15	funneled	funnel	VERB
ftr-309	1031	16	through	through	ADP
ftr-309	1031	17	the	the	DET
ftr-309	1031	18	blocker	blocker	NOUN
ftr-309	1031	19	corporation	corporation	NOUN
ftr-309	1031	20	.	.	PUNCT
ftr-309	1032	1	the	the	DET
ftr-309	1032	2	lower	low	ADJ
ftr-309	1032	3	-	-	PUNCT
ftr-309	1032	4	tier	tier	NOUN
ftr-309	1032	5	partnership	partnership	NOUN
ftr-309	1032	6	did	do	AUX
ftr-309	1032	7	not	not	PART
ftr-309	1032	8	allocate	allocate	VERB
ftr-309	1032	9	or	or	CCONJ
ftr-309	1032	10	pay	pay	VERB
ftr-309	1032	11	some	some	DET
ftr-309	1032	12	income	income	NOUN
ftr-309	1032	13	to	to	ADP
ftr-309	1032	14	the	the	DET
ftr-309	1032	15	blocker	blocker	NOUN
ftr-309	1032	16	corporation	corporation	NOUN
ftr-309	1032	17	while	while	SCONJ
ftr-309	1032	18	allocating	allocate	VERB
ftr-309	1032	19	or	or	CCONJ
ftr-309	1032	20	paying	pay	VERB
ftr-309	1032	21	other	other	ADJ
ftr-309	1032	22	income	income	NOUN
ftr-309	1032	23	to	to	ADP
ftr-309	1032	24	the	the	DET
ftr-309	1032	25	charitable	charitable	ADJ
ftr-309	1032	26	remainder	remainder	NOUN
ftr-309	1032	27	trust	trust	NOUN
ftr-309	1032	28	directly	directly	ADV
ftr-309	1032	29	.	.	PUNCT
ftr-309	1033	1	by	by	ADP
ftr-309	1033	2	contrast	contrast	NOUN
ftr-309	1033	3	,	,	PUNCT
ftr-309	1033	4	the	the	DET
ftr-309	1033	5	underlying	underlie	VERB
ftr-309	1033	6	partnership	partnership	NOUN
ftr-309	1033	7	in	in	ADP
ftr-309	1033	8	the	the	DET
ftr-309	1033	9	blackstone	blackstone	NOUN
ftr-309	1033	10	group	group	NOUN
ftr-309	1033	11	structure	structure	NOUN
ftr-309	1033	12	allocates	allocate	NOUN
ftr-309	1033	13	and	and	CCONJ
ftr-309	1033	14	pays	pay	VERB
ftr-309	1033	15	only	only	ADV
ftr-309	1033	16	some	some	DET
ftr-309	1033	17	income	income	NOUN
ftr-309	1033	18	to	to	ADP
ftr-309	1033	19	u.s	u.s	PROPN
ftr-309	1033	20	.	.	PROPN
ftr-309	1033	21	subsidiary	subsidiary	NOUN
ftr-309	1033	22	and	and	CCONJ
ftr-309	1033	23	non	non	ADJ
ftr-309	1033	24	-	-	ADJ
ftr-309	1033	25	u.s	u.s	PROPN
ftr-309	1033	26	.	.	PROPN
ftr-309	1033	27	subsidiary	subsidiary	NOUN
ftr-309	1033	28	.	.	PUNCT
ftr-309	1034	1	as	as	ADP
ftr-309	1034	2	a	a	DET
ftr-309	1034	3	result	result	NOUN
ftr-309	1034	4	,	,	PUNCT
ftr-309	1034	5	the	the	DET
ftr-309	1034	6	irs	irs	PROPN
ftr-309	1034	7	could	could	AUX
ftr-309	1034	8	challenge	challenge	VERB
ftr-309	1034	9	the	the	DET
ftr-309	1034	10	blackstone	blackstone	NOUN
ftr-309	1034	11	group	group	NOUN
ftr-309	1034	12	structure	structure	NOUN
ftr-309	1034	13	by	by	ADP
ftr-309	1034	14	challenging	challenge	VERB
ftr-309	1034	15	the	the	DET
ftr-309	1034	16	underlying	underlie	VERB
ftr-309	1034	17	payments	payment	NOUN
ftr-309	1034	18	and	and	CCONJ
ftr-309	1034	19	allocations	allocation	NOUN
ftr-309	1034	20	.	.	PUNCT
ftr-309	1035	1	thus	thus	ADV
ftr-309	1035	2	,	,	PUNCT
ftr-309	1035	3	the	the	DET
ftr-309	1035	4	irs	irs	PROPN
ftr-309	1035	5	would	would	AUX
ftr-309	1035	6	not	not	PART
ftr-309	1035	7	need	need	VERB
ftr-309	1035	8	to	to	PART
ftr-309	1035	9	change	change	VERB
ftr-309	1035	10	its	its	PRON
ftr-309	1035	11	position	position	NOUN
ftr-309	1035	12	regarding	regard	VERB
ftr-309	1035	13	blocker	blocker	NOUN
ftr-309	1035	14	corporations	corporation	NOUN
ftr-309	1035	15	,	,	PUNCT
ftr-309	1035	16	generally	generally	ADV
ftr-309	1035	17	,	,	PUNCT
ftr-309	1035	18	in	in	ADP
ftr-309	1035	19	order	order	NOUN
ftr-309	1035	20	to	to	PART
ftr-309	1035	21	challenge	challenge	VERB
ftr-309	1035	22	the	the	DET
ftr-309	1035	23	blackstone	blackstone	NOUN
ftr-309	1035	24	group	group	NOUN
ftr-309	1035	25	structure	structure	NOUN
ftr-309	1035	26	.	.	PUNCT
ftr-309	1036	1	197	197	NUM
ftr-309	1036	2	florida	florida	PROPN
ftr-309	1036	3	tax	tax	NOUN
ftr-309	1036	4	review	review	NOUN
ftr-309	1036	5	a.	a.	NOUN
ftr-309	1036	6	the	the	DET
ftr-309	1036	7	irs	irs	PROPN
ftr-309	1036	8	should	should	AUX
ftr-309	1036	9	not	not	PART
ftr-309	1036	10	invoke	invoke	VERB
ftr-309	1036	11	a	a	DET
ftr-309	1036	12	standard	standard	ADJ
ftr-309	1036	13	like	like	ADP
ftr-309	1036	14	section	section	NOUN
ftr-309	1036	15	482	482	NUM
ftr-309	1036	16	in	in	ADP
ftr-309	1036	17	an	an	DET
ftr-309	1036	18	area	area	NOUN
ftr-309	1036	19	covered	cover	VERB
ftr-309	1036	20	by	by	ADP
ftr-309	1036	21	specific	specific	ADJ
ftr-309	1036	22	rules	rule	NOUN
ftr-309	1036	23	some	some	PRON
ftr-309	1036	24	might	might	AUX
ftr-309	1036	25	argue	argue	VERB
ftr-309	1036	26	that	that	SCONJ
ftr-309	1036	27	section	section	NOUN
ftr-309	1036	28	482	482	NUM
ftr-309	1036	29	is	be	AUX
ftr-309	1036	30	vague	vague	ADJ
ftr-309	1036	31	and	and	CCONJ
ftr-309	1036	32	should	should	AUX
ftr-309	1036	33	be	be	AUX
ftr-309	1036	34	supplanted	supplant	VERB
ftr-309	1036	35	with	with	ADP
ftr-309	1036	36	the	the	DET
ftr-309	1036	37	more	more	ADV
ftr-309	1036	38	detailed	detailed	ADJ
ftr-309	1036	39	substantial	substantial	ADJ
ftr-309	1036	40	economic	economic	ADJ
ftr-309	1036	41	effect	effect	NOUN
ftr-309	1036	42	rules	rule	NOUN
ftr-309	1036	43	.	.	PUNCT
ftr-309	1037	1	'59	'59	NUM
ftr-309	1037	2	if	if	SCONJ
ftr-309	1037	3	the	the	DET
ftr-309	1037	4	detailed	detailed	ADJ
ftr-309	1037	5	rules	rule	NOUN
ftr-309	1037	6	do	do	AUX
ftr-309	1037	7	not	not	PART
ftr-309	1037	8	work	work	VERB
ftr-309	1037	9	properly	properly	ADV
ftr-309	1037	10	when	when	SCONJ
ftr-309	1037	11	partners	partner	NOUN
ftr-309	1037	12	are	be	AUX
ftr-309	1037	13	related	relate	VERB
ftr-309	1037	14	,	,	PUNCT
ftr-309	1037	15	the	the	DET
ftr-309	1037	16	treasury	treasury	NOUN
ftr-309	1037	17	should	should	AUX
ftr-309	1037	18	revise	revise	VERB
ftr-309	1037	19	the	the	DET
ftr-309	1037	20	rules	rule	NOUN
ftr-309	1037	21	.	.	PUNCT
ftr-309	1038	1	although	although	SCONJ
ftr-309	1038	2	revising	revise	VERB
ftr-309	1038	3	the	the	DET
ftr-309	1038	4	rules	rule	NOUN
ftr-309	1038	5	may	may	AUX
ftr-309	1038	6	be	be	AUX
ftr-309	1038	7	advisable	advisable	ADJ
ftr-309	1038	8	,	,	PUNCT
ftr-309	1038	9	this	this	DET
ftr-309	1038	10	vagueness	vagueness	ADJ
ftr-309	1038	11	argument	argument	NOUN
ftr-309	1038	12	is	be	AUX
ftr-309	1038	13	unpersuasive	unpersuasive	ADJ
ftr-309	1038	14	.	.	PUNCT
ftr-309	1039	1	the	the	DET
ftr-309	1039	2	substantial	substantial	ADJ
ftr-309	1039	3	economic	economic	ADJ
ftr-309	1039	4	effect	effect	NOUN
ftr-309	1039	5	rules	rule	NOUN
ftr-309	1039	6	are	be	AUX
ftr-309	1039	7	premised	premise	VERB
ftr-309	1039	8	on	on	ADP
ftr-309	1039	9	the	the	DET
ftr-309	1039	10	assumption	assumption	NOUN
ftr-309	1039	11	that	that	SCONJ
ftr-309	1039	12	partners	partner	NOUN
ftr-309	1039	13	in	in	ADP
ftr-309	1039	14	a	a	DET
ftr-309	1039	15	partnership	partnership	NOUN
ftr-309	1039	16	are	be	AUX
ftr-309	1039	17	unrelated	unrelated	ADJ
ftr-309	1039	18	and	and	CCONJ
ftr-309	1039	19	,	,	PUNCT
ftr-309	1039	20	thus	thus	ADV
ftr-309	1039	21	,	,	PUNCT
ftr-309	1039	22	have	have	AUX
ftr-309	1039	23	opposing	oppose	VERB
ftr-309	1039	24	economic	economic	ADJ
ftr-309	1039	25	interests.160	interests.160	PROPN
ftr-309	1039	26	the	the	DET
ftr-309	1039	27	blackstone	blackstone	NOUN
ftr-309	1039	28	group	group	NOUN
ftr-309	1039	29	lp	lp	PROPN
ftr-309	1039	30	structure	structure	NOUN
ftr-309	1039	31	,	,	PUNCT
ftr-309	1039	32	in	in	ADP
ftr-309	1039	33	which	which	PRON
ftr-309	1039	34	the	the	DET
ftr-309	1039	35	partners	partner	NOUN
ftr-309	1039	36	are	be	AUX
ftr-309	1039	37	related	relate	VERB
ftr-309	1039	38	,	,	PUNCT
ftr-309	1039	39	was	be	AUX
ftr-309	1039	40	designed	design	VERB
ftr-309	1039	41	to	to	PART
ftr-309	1039	42	take	take	VERB
ftr-309	1039	43	advantage	advantage	NOUN
ftr-309	1039	44	of	of	ADP
ftr-309	1039	45	rules	rule	NOUN
ftr-309	1039	46	that	that	PRON
ftr-309	1039	47	did	do	AUX
ftr-309	1039	48	not	not	PART
ftr-309	1039	49	contemplate	contemplate	VERB
ftr-309	1039	50	the	the	DET
ftr-309	1039	51	structure	structure	NOUN
ftr-309	1039	52	used	use	VERB
ftr-309	1039	53	by	by	ADP
ftr-309	1039	54	blackstone	blackstone	NOUN
ftr-309	1039	55	group	group	NOUN
ftr-309	1039	56	.	.	PUNCT
ftr-309	1040	1	6	6	NUM
ftr-309	1040	2	1	1	NUM
ftr-309	1040	3	standards	standard	NOUN
ftr-309	1040	4	,	,	PUNCT
ftr-309	1040	5	rather	rather	ADV
ftr-309	1040	6	than	than	ADP
ftr-309	1040	7	rules	rule	NOUN
ftr-309	1040	8	,	,	PUNCT
ftr-309	1040	9	should	should	AUX
ftr-309	1040	10	apply	apply	VERB
ftr-309	1040	11	to	to	ADP
ftr-309	1040	12	a	a	DET
ftr-309	1040	13	structure	structure	NOUN
ftr-309	1040	14	that	that	PRON
ftr-309	1040	15	takes	take	VERB
ftr-309	1040	16	advantage	advantage	NOUN
ftr-309	1040	17	of	of	ADP
ftr-309	1040	18	rules	rule	NOUN
ftr-309	1040	19	that	that	PRON
ftr-309	1040	20	did	do	AUX
ftr-309	1040	21	not	not	PART
ftr-309	1040	22	contemplate	contemplate	VERB
ftr-309	1040	23	it	it	PRON
ftr-309	1040	24	,	,	PUNCT
ftr-309	1040	25	and	and	CCONJ
ftr-309	1040	26	a	a	DET
ftr-309	1040	27	standard	standard	NOUN
ftr-309	1040	28	necessarily	necessarily	ADV
ftr-309	1040	29	will	will	AUX
ftr-309	1040	30	be	be	AUX
ftr-309	1040	31	vague	vague	ADJ
ftr-309	1040	32	in	in	ADP
ftr-309	1040	33	order	order	NOUN
ftr-309	1040	34	to	to	PART
ftr-309	1040	35	be	be	AUX
ftr-309	1040	36	sufficiently	sufficiently	ADV
ftr-309	1040	37	flexible	flexible	ADJ
ftr-309	1040	38	to	to	PART
ftr-309	1040	39	fill	fill	VERB
ftr-309	1040	40	in	in	ADP
ftr-309	1040	41	gaps	gap	NOUN
ftr-309	1040	42	left	leave	VERB
ftr-309	1040	43	by	by	ADP
ftr-309	1040	44	rules.16	rules.16	PROPN
ftr-309	1040	45	2	2	NUM
ftr-309	1040	46	moreover	moreover	ADV
ftr-309	1040	47	,	,	PUNCT
ftr-309	1040	48	in	in	ADP
ftr-309	1040	49	this	this	DET
ftr-309	1040	50	instance	instance	NOUN
ftr-309	1040	51	,	,	PUNCT
ftr-309	1040	52	the	the	DET
ftr-309	1040	53	specific	specific	ADJ
ftr-309	1040	54	rules	rule	NOUN
ftr-309	1040	55	explicitly	explicitly	ADV
ftr-309	1040	56	state	state	VERB
ftr-309	1040	57	that	that	SCONJ
ftr-309	1040	58	they	they	PRON
ftr-309	1040	59	do	do	AUX
ftr-309	1040	60	not	not	PART
ftr-309	1040	61	supplant	supplant	VERB
ftr-309	1040	62	section	section	NOUN
ftr-309	1040	63	482	482	NUM
ftr-309	1040	64	,	,	PUNCT
ftr-309	1040	65	the	the	DET
ftr-309	1040	66	more	more	ADV
ftr-309	1040	67	general	general	ADJ
ftr-309	1040	68	standard	standard	NOUN
ftr-309	1040	69	.	.	PUNCT
ftr-309	1041	1	163	163	NUM
ftr-309	1041	2	given	give	VERB
ftr-309	1041	3	that	that	SCONJ
ftr-309	1041	4	this	this	DET
ftr-309	1041	5	warning	warning	NOUN
ftr-309	1041	6	is	be	AUX
ftr-309	1041	7	contained	contain	VERB
ftr-309	1041	8	within	within	ADP
ftr-309	1041	9	the	the	DET
ftr-309	1041	10	specific	specific	ADJ
ftr-309	1041	11	rules	rule	NOUN
ftr-309	1041	12	,	,	PUNCT
ftr-309	1041	13	taxpayers	taxpayer	NOUN
ftr-309	1041	14	can	can	AUX
ftr-309	1041	15	not	not	PART
ftr-309	1041	16	persuasively	persuasively	ADV
ftr-309	1041	17	argue	argue	VERB
ftr-309	1041	18	that	that	SCONJ
ftr-309	1041	19	they	they	PRON
ftr-309	1041	20	relied	rely	VERB
ftr-309	1041	21	on	on	ADP
ftr-309	1041	22	the	the	DET
ftr-309	1041	23	specific	specific	ADJ
ftr-309	1041	24	rules	rule	NOUN
ftr-309	1041	25	'	'	PART
ftr-309	1041	26	certainty	certainty	NOUN
ftr-309	1041	27	to	to	PART
ftr-309	1041	28	provide	provide	VERB
ftr-309	1041	29	a	a	DET
ftr-309	1041	30	safe	safe	ADJ
ftr-309	1041	31	harbor	harbor	NOUN
ftr-309	1041	32	from	from	ADP
ftr-309	1041	33	the	the	DET
ftr-309	1041	34	vague	vague	ADJ
ftr-309	1041	35	standard	standard	NOUN
ftr-309	1041	36	of	of	ADP
ftr-309	1041	37	section	section	NOUN
ftr-309	1041	38	482	482	NUM
ftr-309	1041	39	.	.	PROPN
ftr-309	1041	40	159	159	NUM
ftr-309	1041	41	.	.	PUNCT
ftr-309	1042	1	see	see	VERB
ftr-309	1042	2	,	,	PUNCT
ftr-309	1042	3	e.g.	e.g.	ADV
ftr-309	1042	4	,	,	PUNCT
ftr-309	1042	5	leder	leder	NOUN
ftr-309	1042	6	,	,	PUNCT
ftr-309	1042	7	tax	tax	NOUN
ftr-309	1042	8	-	-	PUNCT
ftr-309	1042	9	driven	drive	VERB
ftr-309	1042	10	partnership	partnership	NOUN
ftr-309	1042	11	allocations	allocation	NOUN
ftr-309	1042	12	,	,	PUNCT
ftr-309	1042	13	supra	supra	PROPN
ftr-309	1042	14	note	note	NOUN
ftr-309	1042	15	13	13	NUM
ftr-309	1042	16	,	,	PUNCT
ftr-309	1042	17	at	at	ADP
ftr-309	1042	18	787	787	NUM
ftr-309	1042	19	(	(	PUNCT
ftr-309	1042	20	"	"	PUNCT
ftr-309	1042	21	the	the	DET
ftr-309	1042	22	purpose	purpose	NOUN
ftr-309	1042	23	of	of	ADP
ftr-309	1042	24	regulation	regulation	NOUN
ftr-309	1042	25	section	section	NOUN
ftr-309	1042	26	1.704	1.704	NUM
ftr-309	1042	27	-	-	SYM
ftr-309	1042	28	1(b	1(b	NUM
ftr-309	1042	29	)	)	PUNCT
ftr-309	1042	30	was	be	AUX
ftr-309	1042	31	to	to	PART
ftr-309	1042	32	provide	provide	VERB
ftr-309	1042	33	a	a	DET
ftr-309	1042	34	significant	significant	ADJ
ftr-309	1042	35	degree	degree	NOUN
ftr-309	1042	36	of	of	ADP
ftr-309	1042	37	certainty	certainty	NOUN
ftr-309	1042	38	to	to	ADP
ftr-309	1042	39	taxpayers	taxpayer	NOUN
ftr-309	1042	40	who	who	PRON
ftr-309	1042	41	diligently	diligently	ADV
ftr-309	1042	42	follow	follow	VERB
ftr-309	1042	43	the	the	DET
ftr-309	1042	44	detailed	detailed	ADJ
ftr-309	1042	45	requirements	requirement	NOUN
ftr-309	1042	46	for	for	ADP
ftr-309	1042	47	substantial	substantial	ADJ
ftr-309	1042	48	economic	economic	ADJ
ftr-309	1042	49	effect	effect	NOUN
ftr-309	1042	50	.	.	PUNCT
ftr-309	1043	1	the	the	DET
ftr-309	1043	2	use	use	NOUN
ftr-309	1043	3	of	of	ADP
ftr-309	1043	4	section	section	NOUN
ftr-309	1043	5	482	482	NUM
ftr-309	1043	6	to	to	PART
ftr-309	1043	7	override	override	VERB
ftr-309	1043	8	it	it	PRON
ftr-309	1043	9	should	should	AUX
ftr-309	1043	10	be	be	AUX
ftr-309	1043	11	sharply	sharply	ADV
ftr-309	1043	12	limited	limit	VERB
ftr-309	1043	13	to	to	ADP
ftr-309	1043	14	cases	case	NOUN
ftr-309	1043	15	in	in	ADP
ftr-309	1043	16	which	which	PRON
ftr-309	1043	17	related	related	ADJ
ftr-309	1043	18	taxpayers	taxpayer	NOUN
ftr-309	1043	19	are	be	AUX
ftr-309	1043	20	not	not	PART
ftr-309	1043	21	dealing	deal	VERB
ftr-309	1043	22	at	at	ADP
ftr-309	1043	23	arm	arm	NOUN
ftr-309	1043	24	's	's	PART
ftr-309	1043	25	length	length	NOUN
ftr-309	1043	26	.	.	PUNCT
ftr-309	1044	1	"	"	PUNCT
ftr-309	1044	2	)	)	PUNCT
ftr-309	1044	3	.	.	PUNCT
ftr-309	1045	1	160	160	NUM
ftr-309	1045	2	.	.	PUNCT
ftr-309	1045	3	see	see	VERB
ftr-309	1045	4	supra	supra	PROPN
ftr-309	1045	5	parts	part	NOUN
ftr-309	1045	6	iii.a.2	iii.a.2	PROPN
ftr-309	1045	7	,	,	PUNCT
ftr-309	1045	8	iii.a.4	iii.a.4	PROPN
ftr-309	1045	9	.	.	NOUN
ftr-309	1045	10	161	161	NUM
ftr-309	1045	11	.	.	PUNCT
ftr-309	1046	1	see	see	VERB
ftr-309	1046	2	supra	supra	PROPN
ftr-309	1046	3	part	part	PROPN
ftr-309	1046	4	iii.b	iii.b	PROPN
ftr-309	1046	5	.	.	PUNCT
ftr-309	1046	6	162	162	NUM
ftr-309	1046	7	.	.	PUNCT
ftr-309	1047	1	for	for	ADP
ftr-309	1047	2	example	example	NOUN
ftr-309	1047	3	,	,	PUNCT
ftr-309	1047	4	even	even	ADV
ftr-309	1047	5	while	while	SCONJ
ftr-309	1047	6	making	make	VERB
ftr-309	1047	7	the	the	DET
ftr-309	1047	8	argument	argument	NOUN
ftr-309	1047	9	that	that	SCONJ
ftr-309	1047	10	the	the	DET
ftr-309	1047	11	specific	specific	ADJ
ftr-309	1047	12	substantial	substantial	ADJ
ftr-309	1047	13	economic	economic	ADJ
ftr-309	1047	14	effect	effect	NOUN
ftr-309	1047	15	rules	rule	NOUN
ftr-309	1047	16	should	should	AUX
ftr-309	1047	17	generally	generally	ADV
ftr-309	1047	18	supplant	supplant	VERB
ftr-309	1047	19	section	section	NOUN
ftr-309	1047	20	482	482	NUM
ftr-309	1047	21	and	and	CCONJ
ftr-309	1047	22	other	other	ADJ
ftr-309	1047	23	general	general	ADJ
ftr-309	1047	24	standards	standard	NOUN
ftr-309	1047	25	,	,	PUNCT
ftr-309	1047	26	richard	richard	PROPN
ftr-309	1047	27	leder	leder	PROPN
ftr-309	1047	28	acknowledges	acknowledge	VERB
ftr-309	1047	29	that	that	SCONJ
ftr-309	1047	30	section	section	NOUN
ftr-309	1047	31	482	482	NUM
ftr-309	1047	32	might	might	AUX
ftr-309	1047	33	apply	apply	VERB
ftr-309	1047	34	when	when	SCONJ
ftr-309	1047	35	partners	partner	NOUN
ftr-309	1047	36	in	in	ADP
ftr-309	1047	37	a	a	DET
ftr-309	1047	38	partnership	partnership	NOUN
ftr-309	1047	39	are	be	AUX
ftr-309	1047	40	related	relate	VERB
ftr-309	1047	41	.	.	PUNCT
ftr-309	1048	1	see	see	VERB
ftr-309	1048	2	leder	leder	NOUN
ftr-309	1048	3	,	,	PUNCT
ftr-309	1048	4	tax	tax	NOUN
ftr-309	1048	5	-	-	PUNCT
ftr-309	1048	6	driven	drive	VERB
ftr-309	1048	7	partnership	partnership	NOUN
ftr-309	1048	8	allocations	allocation	NOUN
ftr-309	1048	9	,	,	PUNCT
ftr-309	1048	10	supra	supra	PROPN
ftr-309	1048	11	note	note	NOUN
ftr-309	1048	12	13	13	NUM
ftr-309	1048	13	,	,	PUNCT
ftr-309	1048	14	at	at	ADP
ftr-309	1048	15	787	787	NUM
ftr-309	1048	16	(	(	PUNCT
ftr-309	1048	17	"	"	PUNCT
ftr-309	1048	18	the	the	DET
ftr-309	1048	19	use	use	NOUN
ftr-309	1048	20	of	of	ADP
ftr-309	1048	21	section	section	NOUN
ftr-309	1048	22	482	482	NUM
ftr-309	1048	23	to	to	PART
ftr-309	1048	24	override	override	VERB
ftr-309	1048	25	[	[	PUNCT
ftr-309	1048	26	the	the	DET
ftr-309	1048	27	substantial	substantial	ADJ
ftr-309	1048	28	economic	economic	ADJ
ftr-309	1048	29	effect	effect	NOUN
ftr-309	1048	30	test	test	NOUN
ftr-309	1048	31	]	]	PUNCT
ftr-309	1048	32	should	should	AUX
ftr-309	1048	33	be	be	AUX
ftr-309	1048	34	sharply	sharply	ADV
ftr-309	1048	35	limited	limit	VERB
ftr-309	1048	36	to	to	ADP
ftr-309	1048	37	cases	case	NOUN
ftr-309	1048	38	in	in	ADP
ftr-309	1048	39	which	which	PRON
ftr-309	1048	40	related	related	ADJ
ftr-309	1048	41	taxpayers	taxpayer	NOUN
ftr-309	1048	42	are	be	AUX
ftr-309	1048	43	not	not	PART
ftr-309	1048	44	dealing	deal	VERB
ftr-309	1048	45	at	at	ADP
ftr-309	1048	46	arm	arm	NOUN
ftr-309	1048	47	's	's	PART
ftr-309	1048	48	length	length	NOUN
ftr-309	1048	49	.	.	PUNCT
ftr-309	1048	50	"	"	PUNCT
ftr-309	1048	51	)	)	PUNCT
ftr-309	1049	1	(	(	PUNCT
ftr-309	1049	2	emphasis	emphasis	NOUN
ftr-309	1049	3	added	add	VERB
ftr-309	1049	4	)	)	PUNCT
ftr-309	1049	5	.	.	PUNCT
ftr-309	1050	1	for	for	ADP
ftr-309	1050	2	a	a	DET
ftr-309	1050	3	similar	similar	ADJ
ftr-309	1050	4	argument	argument	NOUN
ftr-309	1050	5	,	,	PUNCT
ftr-309	1050	6	see	see	VERB
ftr-309	1050	7	monroe	monroe	PROPN
ftr-309	1050	8	,	,	PUNCT
ftr-309	1050	9	what	what	PRON
ftr-309	1050	10	's	be	AUX
ftr-309	1050	11	in	in	ADP
ftr-309	1050	12	a	a	DET
ftr-309	1050	13	name	name	NOUN
ftr-309	1050	14	,	,	PUNCT
ftr-309	1050	15	supra	supra	PROPN
ftr-309	1050	16	note	note	NOUN
ftr-309	1050	17	140	140	NUM
ftr-309	1050	18	,	,	PUNCT
ftr-309	1050	19	at	at	ADP
ftr-309	1050	20	454	454	NUM
ftr-309	1050	21	(	(	PUNCT
ftr-309	1050	22	"	"	PUNCT
ftr-309	1050	23	although	although	SCONJ
ftr-309	1050	24	a	a	DET
ftr-309	1050	25	comprehensive	comprehensive	ADJ
ftr-309	1050	26	analysis	analysis	NOUN
ftr-309	1050	27	of	of	ADP
ftr-309	1050	28	uncertainty	uncertainty	NOUN
ftr-309	1050	29	's	's	PART
ftr-309	1050	30	role	role	NOUN
ftr-309	1050	31	in	in	ADP
ftr-309	1050	32	partnership	partnership	NOUN
ftr-309	1050	33	taxation	taxation	NOUN
ftr-309	1050	34	is	be	AUX
ftr-309	1050	35	well	well	ADV
ftr-309	1050	36	beyond	beyond	ADP
ftr-309	1050	37	this	this	DET
ftr-309	1050	38	article	article	NOUN
ftr-309	1050	39	's	's	PART
ftr-309	1050	40	scope	scope	NOUN
ftr-309	1050	41	.	.	PUNCT
ftr-309	1050	42	...	...	PUNCT
ftr-309	1051	1	[	[	X
ftr-309	1051	2	tihe	tihe	ADJ
ftr-309	1051	3	introduction	introduction	NOUN
ftr-309	1051	4	of	of	ADP
ftr-309	1051	5	greater	great	ADJ
ftr-309	1051	6	uncertainty	uncertainty	NOUN
ftr-309	1051	7	into	into	ADP
ftr-309	1051	8	subchapter	subchapter	NOUN
ftr-309	1051	9	k	k	PROPN
ftr-309	1051	10	might	might	AUX
ftr-309	1051	11	have	have	VERB
ftr-309	1051	12	a	a	DET
ftr-309	1051	13	positive	positive	ADJ
ftr-309	1051	14	effect	effect	NOUN
ftr-309	1051	15	on	on	ADP
ftr-309	1051	16	partnership	partnership	NOUN
ftr-309	1051	17	taxation	taxation	NOUN
ftr-309	1051	18	.	.	PUNCT
ftr-309	1051	19	.	.	PUNCT
ftr-309	1051	20	.	.	PUNCT
ftr-309	1052	1	.	.	PUNCT
ftr-309	1053	1	subchapter	subchapter	PROPN
ftr-309	1053	2	k	k	PROPN
ftr-309	1053	3	overflows	overflow	VERB
ftr-309	1053	4	with	with	ADP
ftr-309	1053	5	complex	complex	ADJ
ftr-309	1053	6	and	and	CCONJ
ftr-309	1053	7	technical	technical	ADJ
ftr-309	1053	8	statutory	statutory	ADJ
ftr-309	1053	9	provisions	provision	NOUN
ftr-309	1053	10	.	.	PUNCT
ftr-309	1054	1	..	..	PUNCT
ftr-309	1054	2	.	.	PUNCT
ftr-309	1055	1	although	although	SCONJ
ftr-309	1055	2	intended	intend	VERB
ftr-309	1055	3	,	,	PUNCT
ftr-309	1055	4	at	at	ADP
ftr-309	1055	5	least	least	ADJ
ftr-309	1055	6	in	in	ADP
ftr-309	1055	7	part	part	NOUN
ftr-309	1055	8	,	,	PUNCT
ftr-309	1055	9	to	to	PART
ftr-309	1055	10	increase	increase	VERB
ftr-309	1055	11	certainty	certainty	NOUN
ftr-309	1055	12	of	of	ADP
ftr-309	1055	13	partnership	partnership	NOUN
ftr-309	1055	14	taxation	taxation	NOUN
ftr-309	1055	15	....	....	PUNCT
ftr-309	1056	1	[	[	X
ftr-309	1056	2	yet	yet	ADV
ftr-309	1056	3	,	,	PUNCT
ftr-309	1056	4	technical	technical	ADJ
ftr-309	1056	5	rules	rule	NOUN
ftr-309	1056	6	]	]	PUNCT
ftr-309	1056	7	...	...	PUNCT
ftr-309	1056	8	create	create	VERB
ftr-309	1056	9	new	new	ADJ
ftr-309	1056	10	fault	fault	NOUN
ftr-309	1056	11	lines	line	NOUN
ftr-309	1056	12	ripe	ripe	ADJ
ftr-309	1056	13	for	for	ADP
ftr-309	1056	14	exploitation	exploitation	NOUN
ftr-309	1056	15	by	by	ADP
ftr-309	1056	16	taxpayers	taxpayer	NOUN
ftr-309	1056	17	at	at	ADP
ftr-309	1056	18	extraordinary	extraordinary	ADJ
ftr-309	1056	19	public	public	ADJ
ftr-309	1056	20	cost	cost	NOUN
ftr-309	1056	21	.	.	PUNCT
ftr-309	1057	1	"	"	PUNCT
ftr-309	1057	2	)	)	PUNCT
ftr-309	1057	3	.	.	PUNCT
ftr-309	1058	1	163	163	NUM
ftr-309	1058	2	.	.	PUNCT
ftr-309	1059	1	see	see	VERB
ftr-309	1059	2	supra	supra	PROPN
ftr-309	1059	3	note	note	VERB
ftr-309	1059	4	148	148	NUM
ftr-309	1059	5	and	and	CCONJ
ftr-309	1059	6	accompanying	accompany	VERB
ftr-309	1059	7	text	text	NOUN
ftr-309	1059	8	.	.	PUNCT
ftr-309	1060	1	198	198	NUM
ftr-309	1061	1	[	[	X
ftr-309	1061	2	vol	vol	NOUN
ftr-309	1061	3	.	.	PUNCT
ftr-309	1061	4	14:5	14:5	NUM
ftr-309	1061	5	2013	2013	NUM
ftr-309	1061	6	]	]	PUNCT
ftr-309	1061	7	was	be	AUX
ftr-309	1061	8	blackstone	blackstone	NOUN
ftr-309	1061	9	's	's	PART
ftr-309	1061	10	initial	initial	ADJ
ftr-309	1061	11	public	public	ADJ
ftr-309	1061	12	offering	offering	NOUN
ftr-309	1061	13	too	too	ADV
ftr-309	1061	14	good	good	ADJ
ftr-309	1061	15	to	to	PART
ftr-309	1061	16	be	be	AUX
ftr-309	1061	17	true	true	ADJ
ftr-309	1061	18	?	?	PUNCT
ftr-309	1062	1	b.	b.	PROPN
ftr-309	1063	1	challenging	challenge	VERB
ftr-309	1063	2	the	the	DET
ftr-309	1063	3	current	current	ADJ
ftr-309	1063	4	structure	structure	NOUN
ftr-309	1063	5	would	would	AUX
ftr-309	1063	6	lead	lead	VERB
ftr-309	1063	7	to	to	ADP
ftr-309	1063	8	undesirable	undesirable	ADJ
ftr-309	1063	9	consequences	consequence	NOUN
ftr-309	1063	10	challenging	challenge	VERB
ftr-309	1063	11	blackstone	blackstone	NOUN
ftr-309	1063	12	group	group	NOUN
ftr-309	1063	13	lp	lp	PROPN
ftr-309	1063	14	's	's	PART
ftr-309	1063	15	structure	structure	NOUN
ftr-309	1063	16	could	could	AUX
ftr-309	1063	17	lead	lead	VERB
ftr-309	1063	18	to	to	ADP
ftr-309	1063	19	undesirable	undesirable	ADJ
ftr-309	1063	20	consequences	consequence	NOUN
ftr-309	1063	21	in	in	ADP
ftr-309	1063	22	two	two	NUM
ftr-309	1063	23	ways	way	NOUN
ftr-309	1063	24	.	.	PUNCT
ftr-309	1063	25	'	'	PUNCT
ftr-309	1064	1	first	first	ADV
ftr-309	1064	2	,	,	PUNCT
ftr-309	1064	3	current	current	ADJ
ftr-309	1064	4	investors	investor	NOUN
ftr-309	1064	5	in	in	ADP
ftr-309	1064	6	blackstone	blackstone	NOUN
ftr-309	1064	7	group	group	PROPN
ftr-309	1064	8	lp	lp	PROPN
ftr-309	1064	9	purchased	purchase	VERB
ftr-309	1064	10	their	their	PRON
ftr-309	1064	11	interests	interest	NOUN
ftr-309	1064	12	based	base	VERB
ftr-309	1064	13	on	on	ADP
ftr-309	1064	14	the	the	DET
ftr-309	1064	15	assumption	assumption	NOUN
ftr-309	1064	16	that	that	SCONJ
ftr-309	1064	17	blackstone	blackstone	NOUN
ftr-309	1064	18	group	group	NOUN
ftr-309	1064	19	lp	lp	PROPN
ftr-309	1064	20	would	would	AUX
ftr-309	1064	21	be	be	AUX
ftr-309	1064	22	treated	treat	VERB
ftr-309	1064	23	as	as	ADP
ftr-309	1064	24	a	a	DET
ftr-309	1064	25	partnership	partnership	NOUN
ftr-309	1064	26	for	for	ADP
ftr-309	1064	27	tax	tax	NOUN
ftr-309	1064	28	purposes.16	purposes.16	PROPN
ftr-309	1064	29	5	5	NUM
ftr-309	1064	30	if	if	SCONJ
ftr-309	1064	31	it	it	PRON
ftr-309	1064	32	were	be	AUX
ftr-309	1064	33	treated	treat	VERB
ftr-309	1064	34	as	as	ADP
ftr-309	1064	35	a	a	DET
ftr-309	1064	36	corporation	corporation	NOUN
ftr-309	1064	37	instead	instead	ADV
ftr-309	1064	38	,	,	PUNCT
ftr-309	1064	39	those	those	DET
ftr-309	1064	40	investors	investor	NOUN
ftr-309	1064	41	would	would	AUX
ftr-309	1064	42	lose	lose	VERB
ftr-309	1064	43	wealth	wealth	NOUN
ftr-309	1064	44	as	as	ADP
ftr-309	1064	45	a	a	DET
ftr-309	1064	46	result	result	NOUN
ftr-309	1064	47	of	of	ADP
ftr-309	1064	48	a	a	DET
ftr-309	1064	49	decline	decline	NOUN
ftr-309	1064	50	in	in	ADP
ftr-309	1064	51	the	the	DET
ftr-309	1064	52	value	value	NOUN
ftr-309	1064	53	of	of	ADP
ftr-309	1064	54	the	the	DET
ftr-309	1064	55	interests	interest	NOUN
ftr-309	1064	56	that	that	PRON
ftr-309	1064	57	they	they	PRON
ftr-309	1064	58	hold	hold	VERB
ftr-309	1064	59	.	.	PUNCT
ftr-309	1065	1	second	second	X
ftr-309	1065	2	,	,	PUNCT
ftr-309	1065	3	blackstone	blackstone	NOUN
ftr-309	1065	4	group	group	NOUN
ftr-309	1065	5	lp	lp	PROPN
ftr-309	1065	6	provides	provide	VERB
ftr-309	1065	7	an	an	DET
ftr-309	1065	8	avenue	avenue	NOUN
ftr-309	1065	9	for	for	ADP
ftr-309	1065	10	ordinary	ordinary	ADJ
ftr-309	1065	11	individuals	individual	NOUN
ftr-309	1065	12	to	to	PART
ftr-309	1065	13	hold	hold	VERB
ftr-309	1065	14	economic	economic	ADJ
ftr-309	1065	15	interests	interest	NOUN
ftr-309	1065	16	in	in	ADP
ftr-309	1065	17	private	private	ADJ
ftr-309	1065	18	equity	equity	NOUN
ftr-309	1065	19	funds	fund	NOUN
ftr-309	1065	20	,	,	PUNCT
ftr-309	1065	21	real	real	ADJ
ftr-309	1065	22	estate	estate	NOUN
ftr-309	1065	23	funds	fund	NOUN
ftr-309	1065	24	,	,	PUNCT
ftr-309	1065	25	and	and	CCONJ
ftr-309	1065	26	hedge	hedge	NOUN
ftr-309	1065	27	funds	fund	NOUN
ftr-309	1065	28	,	,	PUNCT
ftr-309	1065	29	despite	despite	SCONJ
ftr-309	1065	30	the	the	DET
ftr-309	1065	31	fact	fact	NOUN
ftr-309	1065	32	that	that	SCONJ
ftr-309	1065	33	ordinary	ordinary	ADJ
ftr-309	1065	34	individuals	individual	NOUN
ftr-309	1065	35	can	can	AUX
ftr-309	1065	36	not	not	PART
ftr-309	1065	37	typically	typically	ADV
ftr-309	1065	38	invest	invest	VERB
ftr-309	1065	39	in	in	ADP
ftr-309	1065	40	these	these	DET
ftr-309	1065	41	vehicles	vehicle	NOUN
ftr-309	1065	42	directly	directly	ADV
ftr-309	1065	43	given	give	VERB
ftr-309	1065	44	the	the	DET
ftr-309	1065	45	large	large	ADJ
ftr-309	1065	46	minimum	minimum	ADJ
ftr-309	1065	47	investment	investment	NOUN
ftr-309	1065	48	required	require	VERB
ftr-309	1065	49	to	to	PART
ftr-309	1065	50	purchase	purchase	VERB
ftr-309	1065	51	an	an	DET
ftr-309	1065	52	interest	interest	NOUN
ftr-309	1065	53	in	in	ADP
ftr-309	1065	54	such	such	ADJ
ftr-309	1065	55	funds.166	funds.166	NOUN
ftr-309	1065	56	challenging	challenge	VERB
ftr-309	1065	57	blackstone	blackstone	NOUN
ftr-309	1065	58	group	group	NOUN
ftr-309	1065	59	lp	lp	PROPN
ftr-309	1065	60	's	's	PART
ftr-309	1065	61	164	164	NUM
ftr-309	1065	62	.	.	PUNCT
ftr-309	1066	1	blackstone	blackstone	NOUN
ftr-309	1066	2	group	group	NOUN
ftr-309	1066	3	might	might	AUX
ftr-309	1066	4	also	also	ADV
ftr-309	1066	5	argue	argue	VERB
ftr-309	1066	6	that	that	SCONJ
ftr-309	1066	7	the	the	DET
ftr-309	1066	8	structure	structure	NOUN
ftr-309	1066	9	achieves	achieve	VERB
ftr-309	1066	10	results	result	NOUN
ftr-309	1066	11	that	that	PRON
ftr-309	1066	12	are	be	AUX
ftr-309	1066	13	consistent	consistent	ADJ
ftr-309	1066	14	with	with	ADP
ftr-309	1066	15	the	the	DET
ftr-309	1066	16	purpose	purpose	NOUN
ftr-309	1066	17	of	of	ADP
ftr-309	1066	18	providing	provide	VERB
ftr-309	1066	19	a	a	DET
ftr-309	1066	20	special	special	ADJ
ftr-309	1066	21	rule	rule	NOUN
ftr-309	1066	22	for	for	ADP
ftr-309	1066	23	publicly	publicly	ADV
ftr-309	1066	24	traded	trade	VERB
ftr-309	1066	25	partnerships	partnership	NOUN
ftr-309	1066	26	that	that	PRON
ftr-309	1066	27	earn	earn	AUX
ftr-309	1066	28	predominately	predominately	ADV
ftr-309	1066	29	qualifying	qualify	VERB
ftr-309	1066	30	income	income	NOUN
ftr-309	1066	31	.	.	PUNCT
ftr-309	1067	1	however	however	ADV
ftr-309	1067	2	,	,	PUNCT
ftr-309	1067	3	such	such	DET
ftr-309	1067	4	an	an	DET
ftr-309	1067	5	argument	argument	NOUN
ftr-309	1067	6	is	be	AUX
ftr-309	1067	7	unpersuasive	unpersuasive	ADJ
ftr-309	1067	8	.	.	PUNCT
ftr-309	1068	1	regarding	regard	VERB
ftr-309	1068	2	the	the	DET
ftr-309	1068	3	purpose	purpose	NOUN
ftr-309	1068	4	for	for	ADP
ftr-309	1068	5	the	the	DET
ftr-309	1068	6	special	special	ADJ
ftr-309	1068	7	qualifying	qualifying	NOUN
ftr-309	1068	8	income	income	NOUN
ftr-309	1068	9	rule	rule	NOUN
ftr-309	1068	10	,	,	PUNCT
ftr-309	1068	11	legislative	legislative	ADJ
ftr-309	1068	12	history	history	NOUN
ftr-309	1068	13	indicates	indicate	VERB
ftr-309	1068	14	that	that	SCONJ
ftr-309	1068	15	congress	congress	PROPN
ftr-309	1068	16	thought	think	VERB
ftr-309	1068	17	it	it	PRON
ftr-309	1068	18	was	be	AUX
ftr-309	1068	19	inappropriate	inappropriate	ADJ
ftr-309	1068	20	to	to	PART
ftr-309	1068	21	impose	impose	VERB
ftr-309	1068	22	corporate	corporate	ADJ
ftr-309	1068	23	-	-	PUNCT
ftr-309	1068	24	level	level	NOUN
ftr-309	1068	25	tax	tax	NOUN
ftr-309	1068	26	on	on	ADP
ftr-309	1068	27	dividend	dividend	NOUN
ftr-309	1068	28	income	income	NOUN
ftr-309	1068	29	,	,	PUNCT
ftr-309	1068	30	interest	interest	NOUN
ftr-309	1068	31	income	income	NOUN
ftr-309	1068	32	,	,	PUNCT
ftr-309	1068	33	and	and	CCONJ
ftr-309	1068	34	other	other	ADJ
ftr-309	1068	35	types	type	NOUN
ftr-309	1068	36	of	of	ADP
ftr-309	1068	37	investment	investment	NOUN
ftr-309	1068	38	income	income	NOUN
ftr-309	1068	39	because	because	SCONJ
ftr-309	1068	40	owners	owner	NOUN
ftr-309	1068	41	of	of	ADP
ftr-309	1068	42	the	the	DET
ftr-309	1068	43	publicly	publicly	ADV
ftr-309	1068	44	traded	trade	VERB
ftr-309	1068	45	partnership	partnership	NOUN
ftr-309	1068	46	could	could	AUX
ftr-309	1068	47	earn	earn	VERB
ftr-309	1068	48	such	such	ADJ
ftr-309	1068	49	income	income	NOUN
ftr-309	1068	50	directly	directly	ADV
ftr-309	1068	51	,	,	PUNCT
ftr-309	1068	52	rather	rather	ADV
ftr-309	1068	53	than	than	ADP
ftr-309	1068	54	through	through	ADP
ftr-309	1068	55	a	a	DET
ftr-309	1068	56	publicly	publicly	ADV
ftr-309	1068	57	traded	trade	VERB
ftr-309	1068	58	intermediary	intermediary	NOUN
ftr-309	1068	59	.	.	PUNCT
ftr-309	1069	1	see	see	VERB
ftr-309	1069	2	,	,	PUNCT
ftr-309	1069	3	e.g.	e.g.	ADV
ftr-309	1069	4	,	,	PUNCT
ftr-309	1069	5	fleischer	fleischer	NOUN
ftr-309	1069	6	,	,	PUNCT
ftr-309	1069	7	taxing	tax	VERB
ftr-309	1069	8	blackstone	blackstone	NOUN
ftr-309	1069	9	,	,	PUNCT
ftr-309	1069	10	supra	supra	PROPN
ftr-309	1069	11	note	note	PROPN
ftr-309	1069	12	1	1	NUM
ftr-309	1069	13	,	,	PUNCT
ftr-309	1069	14	at	at	ADP
ftr-309	1069	15	109	109	NUM
ftr-309	1069	16	-	-	SYM
ftr-309	1069	17	10	10	NUM
ftr-309	1069	18	.	.	PUNCT
ftr-309	1070	1	in	in	ADP
ftr-309	1070	2	blackstone	blackstone	NOUN
ftr-309	1070	3	group	group	NOUN
ftr-309	1070	4	,	,	PUNCT
ftr-309	1070	5	the	the	DET
ftr-309	1070	6	qualifying	qualify	VERB
ftr-309	1070	7	income	income	NOUN
ftr-309	1070	8	is	be	AUX
ftr-309	1070	9	a	a	DET
ftr-309	1070	10	portion	portion	NOUN
ftr-309	1070	11	of	of	ADP
ftr-309	1070	12	carried	carry	VERB
ftr-309	1070	13	interest	interest	NOUN
ftr-309	1070	14	that	that	PRON
ftr-309	1070	15	the	the	DET
ftr-309	1070	16	blackstone	blackstone	NOUN
ftr-309	1070	17	firm	firm	NOUN
ftr-309	1070	18	receives	receive	VERB
ftr-309	1070	19	from	from	ADP
ftr-309	1070	20	the	the	DET
ftr-309	1070	21	funds	fund	NOUN
ftr-309	1070	22	that	that	PRON
ftr-309	1070	23	it	it	PRON
ftr-309	1070	24	manages	manage	VERB
ftr-309	1070	25	.	.	PUNCT
ftr-309	1071	1	thus	thus	ADV
ftr-309	1071	2	,	,	PUNCT
ftr-309	1071	3	as	as	SCONJ
ftr-309	1071	4	professor	professor	NOUN
ftr-309	1071	5	fleischer	fleischer	NOUN
ftr-309	1071	6	argues	argue	VERB
ftr-309	1071	7	,	,	PUNCT
ftr-309	1071	8	because	because	SCONJ
ftr-309	1071	9	investors	investor	NOUN
ftr-309	1071	10	in	in	ADP
ftr-309	1071	11	blackstone	blackstone	NOUN
ftr-309	1071	12	group	group	NOUN
ftr-309	1071	13	could	could	AUX
ftr-309	1071	14	not	not	PART
ftr-309	1071	15	directly	directly	ADV
ftr-309	1071	16	acquire	acquire	VERB
ftr-309	1071	17	a	a	DET
ftr-309	1071	18	right	right	NOUN
ftr-309	1071	19	to	to	PART
ftr-309	1071	20	receive	receive	VERB
ftr-309	1071	21	carried	carry	VERB
ftr-309	1071	22	interest	interest	NOUN
ftr-309	1071	23	from	from	ADP
ftr-309	1071	24	a	a	DET
ftr-309	1071	25	blackstone	blackstone	NOUN
ftr-309	1071	26	fund	fund	NOUN
ftr-309	1071	27	,	,	PUNCT
ftr-309	1071	28	the	the	DET
ftr-309	1071	29	rationale	rationale	NOUN
ftr-309	1071	30	for	for	ADP
ftr-309	1071	31	the	the	DET
ftr-309	1071	32	qualifying	qualify	VERB
ftr-309	1071	33	income	income	NOUN
ftr-309	1071	34	exception	exception	NOUN
ftr-309	1071	35	does	do	AUX
ftr-309	1071	36	not	not	PART
ftr-309	1071	37	apply	apply	VERB
ftr-309	1071	38	to	to	ADP
ftr-309	1071	39	the	the	DET
ftr-309	1071	40	qualifying	qualify	VERB
ftr-309	1071	41	income	income	NOUN
ftr-309	1071	42	earned	earn	VERB
ftr-309	1071	43	by	by	ADP
ftr-309	1071	44	blackstone	blackstone	NOUN
ftr-309	1071	45	group	group	NOUN
ftr-309	1071	46	.	.	PUNCT
ftr-309	1072	1	i	i	PRON
ftr-309	1072	2	d.	d.	PROPN
ftr-309	1072	3	165	165	NUM
ftr-309	1072	4	.	.	PUNCT
ftr-309	1073	1	investors	investor	NOUN
ftr-309	1073	2	may	may	AUX
ftr-309	1073	3	not	not	PART
ftr-309	1073	4	have	have	AUX
ftr-309	1073	5	been	be	AUX
ftr-309	1073	6	entirely	entirely	ADV
ftr-309	1073	7	justified	justify	VERB
ftr-309	1073	8	in	in	ADP
ftr-309	1073	9	making	make	VERB
ftr-309	1073	10	this	this	DET
ftr-309	1073	11	assumption	assumption	NOUN
ftr-309	1073	12	given	give	VERB
ftr-309	1073	13	that	that	SCONJ
ftr-309	1073	14	blackstone	blackstone	NOUN
ftr-309	1073	15	's	's	PART
ftr-309	1073	16	s-1	s-1	NOUN
ftr-309	1073	17	warns	warn	VERB
ftr-309	1073	18	of	of	ADP
ftr-309	1073	19	the	the	DET
ftr-309	1073	20	risk	risk	NOUN
ftr-309	1073	21	that	that	PRON
ftr-309	1073	22	blackstone	blackstone	NOUN
ftr-309	1073	23	group	group	NOUN
ftr-309	1073	24	lp	lp	PROPN
ftr-309	1073	25	could	could	AUX
ftr-309	1073	26	be	be	AUX
ftr-309	1073	27	treated	treat	VERB
ftr-309	1073	28	as	as	ADP
ftr-309	1073	29	a	a	DET
ftr-309	1073	30	corporation	corporation	NOUN
ftr-309	1073	31	for	for	ADP
ftr-309	1073	32	tax	tax	NOUN
ftr-309	1073	33	purposes	purpose	NOUN
ftr-309	1073	34	.	.	PUNCT
ftr-309	1074	1	see	see	VERB
ftr-309	1074	2	blackstone	blackstone	PROPN
ftr-309	1074	3	s-1	s-1	PROPN
ftr-309	1074	4	,	,	PUNCT
ftr-309	1074	5	supra	supra	PROPN
ftr-309	1074	6	note	note	NOUN
ftr-309	1074	7	1	1	NUM
ftr-309	1074	8	,	,	PUNCT
ftr-309	1074	9	at	at	ADP
ftr-309	1074	10	52	52	NUM
ftr-309	1074	11	(	(	PUNCT
ftr-309	1074	12	stating	state	VERB
ftr-309	1074	13	in	in	ADP
ftr-309	1074	14	the	the	DET
ftr-309	1074	15	risk	risk	NOUN
ftr-309	1074	16	factors	factor	NOUN
ftr-309	1074	17	section	section	NOUN
ftr-309	1074	18	:	:	PUNCT
ftr-309	1074	19	"	"	PUNCT
ftr-309	1074	20	the	the	DET
ftr-309	1074	21	value	value	NOUN
ftr-309	1074	22	of	of	ADP
ftr-309	1074	23	your	your	PRON
ftr-309	1074	24	investment	investment	NOUN
ftr-309	1074	25	in	in	ADP
ftr-309	1074	26	us	we	PRON
ftr-309	1074	27	depends	depend	VERB
ftr-309	1074	28	largely	largely	ADV
ftr-309	1074	29	on	on	ADP
ftr-309	1074	30	our	our	PRON
ftr-309	1074	31	being	be	AUX
ftr-309	1074	32	treated	treat	VERB
ftr-309	1074	33	as	as	ADP
ftr-309	1074	34	a	a	DET
ftr-309	1074	35	partnership	partnership	NOUN
ftr-309	1074	36	for	for	ADP
ftr-309	1074	37	u.s	u.s	PROPN
ftr-309	1074	38	.	.	PROPN
ftr-309	1074	39	federal	federal	ADJ
ftr-309	1074	40	income	income	NOUN
ftr-309	1074	41	tax	tax	NOUN
ftr-309	1074	42	purposes	purpose	NOUN
ftr-309	1074	43	,	,	PUNCT
ftr-309	1074	44	which	which	PRON
ftr-309	1074	45	requires	require	VERB
ftr-309	1074	46	that	that	SCONJ
ftr-309	1074	47	90	90	NUM
ftr-309	1074	48	%	%	NOUN
ftr-309	1074	49	or	or	CCONJ
ftr-309	1074	50	more	more	ADJ
ftr-309	1074	51	of	of	ADP
ftr-309	1074	52	our	our	PRON
ftr-309	1074	53	gross	gross	ADJ
ftr-309	1074	54	income	income	NOUN
ftr-309	1074	55	for	for	ADP
ftr-309	1074	56	every	every	DET
ftr-309	1074	57	taxable	taxable	ADJ
ftr-309	1074	58	year	year	NOUN
ftr-309	1074	59	consist	consist	NOUN
ftr-309	1074	60	of	of	ADP
ftr-309	1074	61	qualifying	qualify	VERB
ftr-309	1074	62	income	income	NOUN
ftr-309	1074	63	.	.	PUNCT
ftr-309	1074	64	.	.	PUNCT
ftr-309	1074	65	.	.	PUNCT
ftr-309	1075	1	.	.	PUNCT
ftr-309	1076	1	we	we	PRON
ftr-309	1076	2	may	may	AUX
ftr-309	1076	3	not	not	PART
ftr-309	1076	4	meet	meet	VERB
ftr-309	1076	5	these	these	DET
ftr-309	1076	6	requirements	requirement	NOUN
ftr-309	1076	7	or	or	CCONJ
ftr-309	1076	8	current	current	ADJ
ftr-309	1076	9	law	law	NOUN
ftr-309	1076	10	may	may	AUX
ftr-309	1076	11	change	change	VERB
ftr-309	1076	12	so	so	SCONJ
ftr-309	1076	13	as	as	SCONJ
ftr-309	1076	14	to	to	PART
ftr-309	1076	15	cause	cause	VERB
ftr-309	1076	16	,	,	PUNCT
ftr-309	1076	17	in	in	ADP
ftr-309	1076	18	either	either	DET
ftr-309	1076	19	event	event	NOUN
ftr-309	1076	20	,	,	PUNCT
ftr-309	1076	21	us	we	PRON
ftr-309	1076	22	to	to	PART
ftr-309	1076	23	be	be	AUX
ftr-309	1076	24	treated	treat	VERB
ftr-309	1076	25	as	as	ADP
ftr-309	1076	26	a	a	DET
ftr-309	1076	27	corporation	corporation	NOUN
ftr-309	1076	28	for	for	ADP
ftr-309	1076	29	u.s	u.s	PROPN
ftr-309	1076	30	.	.	PROPN
ftr-309	1076	31	federal	federal	ADJ
ftr-309	1076	32	income	income	NOUN
ftr-309	1076	33	tax	tax	NOUN
ftr-309	1076	34	purposes	purpose	NOUN
ftr-309	1076	35	or	or	CCONJ
ftr-309	1076	36	otherwise	otherwise	ADV
ftr-309	1076	37	subject	subject	ADJ
ftr-309	1076	38	to	to	ADP
ftr-309	1076	39	u.s	u.s	PROPN
ftr-309	1076	40	.	.	PROPN
ftr-309	1076	41	federal	federal	ADJ
ftr-309	1076	42	income	income	NOUN
ftr-309	1076	43	tax	tax	NOUN
ftr-309	1076	44	.	.	PUNCT
ftr-309	1076	45	"	"	PUNCT
ftr-309	1076	46	)	)	PUNCT
ftr-309	1076	47	.	.	PUNCT
ftr-309	1077	1	166	166	NUM
ftr-309	1077	2	.	.	PUNCT
ftr-309	1078	1	see	see	VERB
ftr-309	1078	2	,	,	PUNCT
ftr-309	1078	3	also	also	ADV
ftr-309	1078	4	,	,	PUNCT
ftr-309	1078	5	fleischer	fleischer	PROPN
ftr-309	1078	6	,	,	PUNCT
ftr-309	1078	7	taxing	tax	VERB
ftr-309	1078	8	blackstone	blackstone	NOUN
ftr-309	1078	9	,	,	PUNCT
ftr-309	1078	10	supra	supra	PROPN
ftr-309	1078	11	note	note	PROPN
ftr-309	1078	12	1	1	NUM
ftr-309	1078	13	,	,	PUNCT
ftr-309	1078	14	at	at	ADP
ftr-309	1078	15	118	118	NUM
ftr-309	1078	16	-	-	SYM
ftr-309	1078	17	19	19	NUM
ftr-309	1078	18	(	(	PUNCT
ftr-309	1078	19	"	"	PUNCT
ftr-309	1078	20	the	the	DET
ftr-309	1078	21	blackstone	blackstone	NOUN
ftr-309	1078	22	deal	deal	NOUN
ftr-309	1078	23	actually	actually	ADV
ftr-309	1078	24	provides	provide	VERB
ftr-309	1078	25	more	more	ADV
ftr-309	1078	26	meaningful	meaningful	ADJ
ftr-309	1078	27	egalitarian	egalitarian	ADJ
ftr-309	1078	28	access	access	NOUN
ftr-309	1078	29	to	to	ADP
ftr-309	1078	30	the	the	DET
ftr-309	1078	31	capital	capital	NOUN
ftr-309	1078	32	markets	market	NOUN
ftr-309	1078	33	by	by	ADP
ftr-309	1078	34	allowing	allow	VERB
ftr-309	1078	35	public	public	ADJ
ftr-309	1078	36	investors	investor	NOUN
ftr-309	1078	37	to	to	PART
ftr-309	1078	38	participate	participate	VERB
ftr-309	1078	39	,	,	PUNCT
ftr-309	1078	40	albeit	albeit	SCONJ
ftr-309	1078	41	indirectly	indirectly	ADV
ftr-309	1078	42	,	,	PUNCT
ftr-309	1078	43	in	in	ADP
ftr-309	1078	44	alternative	alternative	ADJ
ftr-309	1078	45	asset	asset	NOUN
ftr-309	1078	46	classes	class	NOUN
ftr-309	1078	47	without	without	ADP
ftr-309	1078	48	forcing	force	VERB
ftr-309	1078	49	a	a	DET
ftr-309	1078	50	financial	financial	ADJ
ftr-309	1078	51	intermediary	intermediary	NOUN
ftr-309	1078	52	to	to	PART
ftr-309	1078	53	pay	pay	VERB
ftr-309	1078	54	an	an	DET
ftr-309	1078	55	entity	entity	NOUN
ftr-309	1078	56	-	-	PUNCT
ftr-309	1078	57	level	level	NOUN
ftr-309	1078	58	tax	tax	NOUN
ftr-309	1078	59	.	.	PUNCT
ftr-309	1078	60	"	"	PUNCT
ftr-309	1078	61	)	)	PUNCT
ftr-309	1078	62	.	.	PUNCT
ftr-309	1079	1	furthermore	furthermore	ADV
ftr-309	1079	2	,	,	PUNCT
ftr-309	1079	3	one	one	PRON
ftr-309	1079	4	could	could	AUX
ftr-309	1079	5	argue	argue	VERB
ftr-309	1079	6	that	that	SCONJ
ftr-309	1079	7	congress	congress	PROPN
ftr-309	1079	8	's	's	PART
ftr-309	1079	9	failure	failure	NOUN
ftr-309	1079	10	to	to	PART
ftr-309	1079	11	enact	enact	VERB
ftr-309	1079	12	reform	reform	NOUN
ftr-309	1079	13	that	that	PRON
ftr-309	1079	14	would	would	AUX
ftr-309	1079	15	have	have	AUX
ftr-309	1079	16	altered	alter	VERB
ftr-309	1079	17	the	the	DET
ftr-309	1079	18	results	result	NOUN
ftr-309	1079	19	claimed	claim	VERB
ftr-309	1079	20	by	by	ADP
ftr-309	1079	21	blackstone	blackstone	NOUN
ftr-309	1079	22	group	group	NOUN
ftr-309	1079	23	suggests	suggest	VERB
ftr-309	1079	24	that	that	SCONJ
ftr-309	1079	25	the	the	DET
ftr-309	1079	26	irs	irs	PROPN
ftr-309	1079	27	should	should	AUX
ftr-309	1079	28	not	not	PART
ftr-309	1079	29	challenge	challenge	VERB
ftr-309	1079	30	those	those	DET
ftr-309	1079	31	results	result	NOUN
ftr-309	1079	32	.	.	PUNCT
ftr-309	1080	1	199	199	NUM
ftr-309	1080	2	florida	florida	PROPN
ftr-309	1080	3	tax	tax	NOUN
ftr-309	1080	4	review	review	NOUN
ftr-309	1080	5	claimed	claim	VERB
ftr-309	1080	6	tax	tax	NOUN
ftr-309	1080	7	consequences	consequence	NOUN
ftr-309	1080	8	could	could	AUX
ftr-309	1080	9	prevent	prevent	VERB
ftr-309	1080	10	other	other	ADJ
ftr-309	1080	11	fund	fund	NOUN
ftr-309	1080	12	sponsors	sponsor	NOUN
ftr-309	1080	13	from	from	ADP
ftr-309	1080	14	engaging	engage	VERB
ftr-309	1080	15	in	in	ADP
ftr-309	1080	16	public	public	ADJ
ftr-309	1080	17	offerings	offering	NOUN
ftr-309	1080	18	in	in	ADP
ftr-309	1080	19	the	the	DET
ftr-309	1080	20	future	future	NOUN
ftr-309	1080	21	,	,	PUNCT
ftr-309	1080	22	thereby	thereby	ADV
ftr-309	1080	23	limiting	limit	VERB
ftr-309	1080	24	the	the	DET
ftr-309	1080	25	opportunities	opportunity	NOUN
ftr-309	1080	26	for	for	ADP
ftr-309	1080	27	ordinary	ordinary	ADJ
ftr-309	1080	28	individuals	individual	NOUN
ftr-309	1080	29	to	to	PART
ftr-309	1080	30	acquire	acquire	VERB
ftr-309	1080	31	indirect	indirect	ADJ
ftr-309	1080	32	economic	economic	ADJ
ftr-309	1080	33	interests	interest	NOUN
ftr-309	1080	34	in	in	ADP
ftr-309	1080	35	such	such	ADJ
ftr-309	1080	36	funds	fund	NOUN
ftr-309	1080	37	.	.	PUNCT
ftr-309	1081	1	furthermore	furthermore	ADV
ftr-309	1081	2	,	,	PUNCT
ftr-309	1081	3	challenging	challenge	VERB
ftr-309	1081	4	blackstone	blackstone	NOUN
ftr-309	1081	5	group	group	NOUN
ftr-309	1081	6	lp	lp	PROPN
ftr-309	1081	7	's	's	PART
ftr-309	1081	8	tax	tax	NOUN
ftr-309	1081	9	consequences	consequence	NOUN
ftr-309	1081	10	could	could	AUX
ftr-309	1081	11	cause	cause	VERB
ftr-309	1081	12	it	it	PRON
ftr-309	1081	13	to	to	PART
ftr-309	1081	14	be	be	AUX
ftr-309	1081	15	treated	treat	VERB
ftr-309	1081	16	as	as	ADP
ftr-309	1081	17	a	a	DET
ftr-309	1081	18	corporation	corporation	NOUN
ftr-309	1081	19	for	for	ADP
ftr-309	1081	20	tax	tax	NOUN
ftr-309	1081	21	purposes	purpose	NOUN
ftr-309	1081	22	so	so	SCONJ
ftr-309	1081	23	that	that	SCONJ
ftr-309	1081	24	ordinary	ordinary	ADJ
ftr-309	1081	25	individuals	individual	NOUN
ftr-309	1081	26	could	could	AUX
ftr-309	1081	27	invest	invest	VERB
ftr-309	1081	28	in	in	ADP
ftr-309	1081	29	funds	fund	NOUN
ftr-309	1081	30	only	only	ADV
ftr-309	1081	31	if	if	SCONJ
ftr-309	1081	32	they	they	PRON
ftr-309	1081	33	did	do	VERB
ftr-309	1081	34	so	so	ADV
ftr-309	1081	35	through	through	ADP
ftr-309	1081	36	an	an	DET
ftr-309	1081	37	entity	entity	NOUN
ftr-309	1081	38	subject	subject	NOUN
ftr-309	1081	39	to	to	ADP
ftr-309	1081	40	corporate	corporate	ADJ
ftr-309	1081	41	-	-	PUNCT
ftr-309	1081	42	level	level	NOUN
ftr-309	1081	43	tax.167	tax.167	NOUN
ftr-309	1081	44	these	these	DET
ftr-309	1081	45	concerns	concern	NOUN
ftr-309	1081	46	may	may	AUX
ftr-309	1081	47	have	have	VERB
ftr-309	1081	48	merit	merit	NOUN
ftr-309	1081	49	.	.	PUNCT
ftr-309	1082	1	16	16	NUM
ftr-309	1082	2	8	8	NUM
ftr-309	1082	3	however	however	ADV
ftr-309	1082	4	,	,	PUNCT
ftr-309	1082	5	if	if	SCONJ
ftr-309	1082	6	it	it	PRON
ftr-309	1082	7	is	be	AUX
ftr-309	1082	8	desirable	desirable	ADJ
ftr-309	1082	9	to	to	PART
ftr-309	1082	10	allow	allow	VERB
ftr-309	1082	11	ordinary	ordinary	ADJ
ftr-309	1082	12	individuals	individual	NOUN
ftr-309	1082	13	to	to	PART
ftr-309	1082	14	invest	invest	VERB
ftr-309	1082	15	in	in	ADP
ftr-309	1082	16	blackstone	blackstone	NOUN
ftr-309	1082	17	group	group	NOUN
ftr-309	1082	18	lp	lp	PROPN
ftr-309	1082	19	and	and	CCONJ
ftr-309	1082	20	benefit	benefit	VERB
ftr-309	1082	21	from	from	ADP
ftr-309	1082	22	the	the	DET
ftr-309	1082	23	tax	tax	NOUN
ftr-309	1082	24	treatment	treatment	NOUN
ftr-309	1082	25	claimed	claim	VERB
ftr-309	1082	26	by	by	ADP
ftr-309	1082	27	blackstone	blackstone	PROPN
ftr-309	1082	28	group	group	PROPN
ftr-309	1082	29	lp	lp	PROPN
ftr-309	1082	30	,	,	PUNCT
ftr-309	1082	31	then	then	ADV
ftr-309	1082	32	congress	congress	PROPN
ftr-309	1082	33	should	should	AUX
ftr-309	1082	34	reform	reform	VERB
ftr-309	1082	35	the	the	DET
ftr-309	1082	36	publicly	publicly	ADV
ftr-309	1082	37	traded	trade	VERB
ftr-309	1082	38	partnership	partnership	NOUN
ftr-309	1082	39	rules	rule	NOUN
ftr-309	1082	40	so	so	SCONJ
ftr-309	1082	41	that	that	SCONJ
ftr-309	1082	42	the	the	DET
ftr-309	1082	43	results	result	NOUN
ftr-309	1082	44	claimed	claim	VERB
ftr-309	1082	45	by	by	ADP
ftr-309	1082	46	blackstone	blackstone	NOUN
ftr-309	1082	47	group	group	NOUN
ftr-309	1082	48	are	be	AUX
ftr-309	1082	49	actually	actually	ADV
ftr-309	1082	50	consistent	consistent	ADJ
ftr-309	1082	51	with	with	ADP
ftr-309	1082	52	law	law	NOUN
ftr-309	1082	53	.	.	PUNCT
ftr-309	1083	1	for	for	ADP
ftr-309	1083	2	example	example	NOUN
ftr-309	1083	3	,	,	PUNCT
ftr-309	1083	4	congress	congress	PROPN
ftr-309	1083	5	could	could	AUX
ftr-309	1083	6	provide	provide	VERB
ftr-309	1083	7	that	that	SCONJ
ftr-309	1083	8	every	every	DET
ftr-309	1083	9	publicly	publicly	ADV
ftr-309	1083	10	traded	trade	VERB
ftr-309	1083	11	partnership	partnership	NOUN
ftr-309	1083	12	must	must	AUX
ftr-309	1083	13	pay	pay	VERB
ftr-309	1083	14	entity	entity	NOUN
ftr-309	1083	15	-	-	PUNCT
ftr-309	1083	16	level	level	NOUN
ftr-309	1083	17	tax	tax	NOUN
ftr-309	1083	18	on	on	ADP
ftr-309	1083	19	all	all	PRON
ftr-309	1083	20	of	of	ADP
ftr-309	1083	21	its	its	PRON
ftr-309	1083	22	non	non	ADJ
ftr-309	1083	23	-	-	ADJ
ftr-309	1083	24	qualifying	qualifying	ADJ
ftr-309	1083	25	income	income	NOUN
ftr-309	1083	26	(	(	PUNCT
ftr-309	1083	27	less	less	ADV
ftr-309	1083	28	allowable	allowable	ADJ
ftr-309	1083	29	deductions	deduction	NOUN
ftr-309	1083	30	)	)	PUNCT
ftr-309	1083	31	,	,	PUNCT
ftr-309	1083	32	but	but	CCONJ
ftr-309	1083	33	no	no	DET
ftr-309	1083	34	publicly	publicly	ADV
ftr-309	1083	35	traded	trade	VERB
ftr-309	1083	36	partnership	partnership	NOUN
ftr-309	1083	37	pays	pay	VERB
ftr-309	1083	38	entity	entity	NOUN
ftr-309	1083	39	-	-	PUNCT
ftr-309	1083	40	level	level	NOUN
ftr-309	1083	41	tax	tax	NOUN
ftr-309	1083	42	on	on	ADP
ftr-309	1083	43	its	its	PRON
ftr-309	1083	44	qualifying	qualify	VERB
ftr-309	1083	45	income	income	NOUN
ftr-309	1083	46	.	.	PUNCT
ftr-309	1084	1	taking	take	VERB
ftr-309	1084	2	the	the	DET
ftr-309	1084	3	approach	approach	NOUN
ftr-309	1084	4	of	of	ADP
ftr-309	1084	5	acquiescing	acquiesce	VERB
ftr-309	1084	6	to	to	ADP
ftr-309	1084	7	taxpayers	taxpayer	NOUN
ftr-309	1084	8	'	'	PART
ftr-309	1084	9	manipulation	manipulation	NOUN
ftr-309	1084	10	of	of	ADP
ftr-309	1084	11	the	the	DET
ftr-309	1084	12	partnership	partnership	NOUN
ftr-309	1084	13	tax	tax	NOUN
ftr-309	1084	14	allocation	allocation	NOUN
ftr-309	1084	15	rules	rule	NOUN
ftr-309	1084	16	is	be	AUX
ftr-309	1084	17	an	an	DET
ftr-309	1084	18	undesirable	undesirable	ADJ
ftr-309	1084	19	alternative	alternative	NOUN
ftr-309	1084	20	to	to	ADP
ftr-309	1084	21	reforming	reform	VERB
ftr-309	1084	22	the	the	DET
ftr-309	1084	23	publicly	publicly	ADV
ftr-309	1084	24	traded	trade	VERB
ftr-309	1084	25	partnership	partnership	NOUN
ftr-309	1084	26	rules	rule	NOUN
ftr-309	1084	27	if	if	SCONJ
ftr-309	1084	28	lawmakers	lawmaker	NOUN
ftr-309	1084	29	want	want	VERB
ftr-309	1084	30	to	to	PART
ftr-309	1084	31	sanction	sanction	VERB
ftr-309	1084	32	the	the	DET
ftr-309	1084	33	results	result	NOUN
ftr-309	1084	34	claimed	claim	VERB
ftr-309	1084	35	by	by	ADP
ftr-309	1084	36	blackstone	blackstone	PROPN
ftr-309	1084	37	group.170	group.170	PROPN
ftr-309	1084	38	c.	c.	PROPN
ftr-309	1084	39	blackstone	blackstone	PROPN
ftr-309	1084	40	group	group	NOUN
ftr-309	1084	41	's	's	PART
ftr-309	1084	42	structuring	structuring	NOUN
ftr-309	1084	43	produces	produce	VERB
ftr-309	1084	44	a	a	DET
ftr-309	1084	45	logical	logical	ADJ
ftr-309	1084	46	result	result	NOUN
ftr-309	1084	47	despite	despite	SCONJ
ftr-309	1084	48	illogical	illogical	ADJ
ftr-309	1084	49	rules	rule	NOUN
ftr-309	1084	50	the	the	DET
ftr-309	1084	51	90	90	NUM
ftr-309	1084	52	percent	percent	NOUN
ftr-309	1084	53	gross	gross	ADJ
ftr-309	1084	54	income	income	NOUN
ftr-309	1084	55	exception	exception	NOUN
ftr-309	1084	56	results	result	NOUN
ftr-309	1084	57	in	in	ADP
ftr-309	1084	58	what	what	PRON
ftr-309	1084	59	is	be	AUX
ftr-309	1084	60	called	call	VERB
ftr-309	1084	61	a	a	DET
ftr-309	1084	62	"	"	PUNCT
ftr-309	1084	63	cliff	cliff	NOUN
ftr-309	1084	64	effect	effect	NOUN
ftr-309	1084	65	,	,	PUNCT
ftr-309	1084	66	"	"	PUNCT
ftr-309	1084	67	meaning	mean	VERB
ftr-309	1084	68	that	that	SCONJ
ftr-309	1084	69	small	small	ADJ
ftr-309	1084	70	non	non	ADJ
ftr-309	1084	71	-	-	ADJ
ftr-309	1084	72	tax	tax	ADJ
ftr-309	1084	73	changes	change	NOUN
ftr-309	1084	74	can	can	AUX
ftr-309	1084	75	produce	produce	VERB
ftr-309	1084	76	drastic	drastic	ADJ
ftr-309	1084	77	tax	tax	NOUN
ftr-309	1084	78	changes	change	NOUN
ftr-309	1084	79	.	.	PUNCT
ftr-309	1085	1	in	in	ADP
ftr-309	1085	2	order	order	NOUN
ftr-309	1085	3	to	to	PART
ftr-309	1085	4	demonstrate	demonstrate	VERB
ftr-309	1085	5	,	,	PUNCT
ftr-309	1085	6	assume	assume	VERB
ftr-309	1085	7	the	the	DET
ftr-309	1085	8	following	follow	VERB
ftr-309	1085	9	facts	fact	NOUN
ftr-309	1085	10	:	:	PUNCT
ftr-309	1085	11	example	example	NOUN
ftr-309	1086	1	6	6	NUM
ftr-309	1086	2	.	.	PUNCT
ftr-309	1086	3	a	a	DET
ftr-309	1086	4	publicly	publicly	ADV
ftr-309	1086	5	traded	trade	VERB
ftr-309	1086	6	partnership	partnership	NOUN
ftr-309	1086	7	has	have	AUX
ftr-309	1086	8	earned	earn	VERB
ftr-309	1086	9	$	$	SYM
ftr-309	1086	10	899	899	NUM
ftr-309	1086	11	of	of	ADP
ftr-309	1086	12	qualifying	qualify	VERB
ftr-309	1086	13	income	income	NOUN
ftr-309	1086	14	and	and	CCONJ
ftr-309	1086	15	$	$	SYM
ftr-309	1086	16	100	100	NUM
ftr-309	1086	17	of	of	ADP
ftr-309	1086	18	non	non	ADJ
ftr-309	1086	19	-	-	ADJ
ftr-309	1086	20	qualifying	qualifying	ADJ
ftr-309	1086	21	income	income	NOUN
ftr-309	1086	22	in	in	ADP
ftr-309	1086	23	a	a	DET
ftr-309	1086	24	given	give	VERB
ftr-309	1086	25	year	year	NOUN
ftr-309	1086	26	.	.	PUNCT
ftr-309	1087	1	the	the	DET
ftr-309	1087	2	partnership	partnership	NOUN
ftr-309	1087	3	will	will	AUX
ftr-309	1087	4	earn	earn	VERB
ftr-309	1087	5	one	one	NUM
ftr-309	1087	6	more	more	ADJ
ftr-309	1087	7	dollar	dollar	NOUN
ftr-309	1087	8	of	of	ADP
ftr-309	1087	9	income	income	NOUN
ftr-309	1087	10	before	before	SCONJ
ftr-309	1087	11	the	the	DET
ftr-309	1087	12	year	year	NOUN
ftr-309	1087	13	closes	close	VERB
ftr-309	1087	14	.	.	PUNCT
ftr-309	1088	1	if	if	SCONJ
ftr-309	1088	2	the	the	DET
ftr-309	1088	3	additional	additional	ADJ
ftr-309	1088	4	dollar	dollar	NOUN
ftr-309	1088	5	is	be	AUX
ftr-309	1088	6	non	non	ADJ
ftr-309	1088	7	-	-	ADJ
ftr-309	1088	8	qualifying	qualifying	ADJ
ftr-309	1088	9	income	income	NOUN
ftr-309	1088	10	,	,	PUNCT
ftr-309	1088	11	the	the	DET
ftr-309	1088	12	partnership	partnership	NOUN
ftr-309	1088	13	will	will	AUX
ftr-309	1088	14	not	not	PART
ftr-309	1088	15	meet	meet	VERB
ftr-309	1088	16	the	the	DET
ftr-309	1088	17	requirements	requirement	NOUN
ftr-309	1088	18	of	of	ADP
ftr-309	1088	19	the	the	DET
ftr-309	1088	20	90	90	NUM
ftr-309	1088	21	percent	percent	NOUN
ftr-309	1088	22	gross	gross	ADJ
ftr-309	1088	23	income	income	NOUN
ftr-309	1088	24	exception	exception	NOUN
ftr-309	1088	25	because	because	SCONJ
ftr-309	1088	26	less	less	ADJ
ftr-309	1088	27	than	than	ADP
ftr-309	1088	28	90	90	NUM
ftr-309	1088	29	percent	percent	NOUN
ftr-309	1088	30	of	of	ADP
ftr-309	1088	31	its	its	PRON
ftr-309	1088	32	income	income	NOUN
ftr-309	1088	33	will	will	AUX
ftr-309	1088	34	be	be	AUX
ftr-309	1088	35	qualifying	qualify	VERB
ftr-309	1088	36	income	income	NOUN
ftr-309	1088	37	.	.	PUNCT
ftr-309	1089	1	as	as	ADP
ftr-309	1089	2	a	a	DET
ftr-309	1089	3	result	result	NOUN
ftr-309	1089	4	,	,	PUNCT
ftr-309	1089	5	assuming	assume	VERB
ftr-309	1089	6	the	the	DET
ftr-309	1089	7	partnership	partnership	NOUN
ftr-309	1089	8	has	have	VERB
ftr-309	1089	9	no	no	DET
ftr-309	1089	10	167	167	NUM
ftr-309	1089	11	.	.	PUNCT
ftr-309	1090	1	i	i	PRON
ftr-309	1090	2	d.	d.	PROPN
ftr-309	1090	3	168	168	NUM
ftr-309	1090	4	.	.	PUNCT
ftr-309	1091	1	if	if	SCONJ
ftr-309	1091	2	these	these	DET
ftr-309	1091	3	concerns	concern	NOUN
ftr-309	1091	4	do	do	AUX
ftr-309	1091	5	have	have	VERB
ftr-309	1091	6	merit	merit	NOUN
ftr-309	1091	7	,	,	PUNCT
ftr-309	1091	8	they	they	PRON
ftr-309	1091	9	would	would	AUX
ftr-309	1091	10	also	also	ADV
ftr-309	1091	11	represent	represent	VERB
ftr-309	1091	12	reasons	reason	NOUN
ftr-309	1091	13	to	to	PART
ftr-309	1091	14	avoid	avoid	VERB
ftr-309	1091	15	congressional	congressional	ADJ
ftr-309	1091	16	reforms	reform	NOUN
ftr-309	1091	17	that	that	PRON
ftr-309	1091	18	would	would	AUX
ftr-309	1091	19	tax	tax	VERB
ftr-309	1091	20	blackstone	blackstone	NOUN
ftr-309	1091	21	group	group	NOUN
ftr-309	1091	22	lp	lp	PROPN
ftr-309	1091	23	as	as	ADP
ftr-309	1091	24	a	a	DET
ftr-309	1091	25	corporation	corporation	NOUN
ftr-309	1091	26	.	.	PUNCT
ftr-309	1092	1	even	even	ADV
ftr-309	1092	2	if	if	SCONJ
ftr-309	1092	3	legislative	legislative	ADJ
ftr-309	1092	4	reform	reform	NOUN
ftr-309	1092	5	contained	contain	VERB
ftr-309	1092	6	a	a	DET
ftr-309	1092	7	delayed	delay	VERB
ftr-309	1092	8	effective	effective	ADJ
ftr-309	1092	9	date	date	NOUN
ftr-309	1092	10	,	,	PUNCT
ftr-309	1092	11	it	it	PRON
ftr-309	1092	12	would	would	AUX
ftr-309	1092	13	still	still	ADV
ftr-309	1092	14	affect	affect	VERB
ftr-309	1092	15	current	current	ADJ
ftr-309	1092	16	investors	investor	NOUN
ftr-309	1092	17	,	,	PUNCT
ftr-309	1092	18	although	although	SCONJ
ftr-309	1092	19	to	to	ADP
ftr-309	1092	20	a	a	DET
ftr-309	1092	21	somewhat	somewhat	ADV
ftr-309	1092	22	lesser	less	ADJ
ftr-309	1092	23	extent	extent	NOUN
ftr-309	1092	24	.	.	PUNCT
ftr-309	1093	1	see	see	VERB
ftr-309	1093	2	,	,	PUNCT
ftr-309	1093	3	e.g.	e.g.	ADV
ftr-309	1093	4	,	,	PUNCT
ftr-309	1093	5	michael	michael	PROPN
ftr-309	1093	6	j.	j.	PROPN
ftr-309	1093	7	graetz	graetz	PROPN
ftr-309	1093	8	,	,	PUNCT
ftr-309	1093	9	legal	legal	ADJ
ftr-309	1093	10	transitions	transition	NOUN
ftr-309	1093	11	:	:	PUNCT
ftr-309	1093	12	the	the	DET
ftr-309	1093	13	case	case	NOUN
ftr-309	1093	14	of	of	ADP
ftr-309	1093	15	retroactivity	retroactivity	NOUN
ftr-309	1093	16	in	in	ADP
ftr-309	1093	17	income	income	NOUN
ftr-309	1093	18	tax	tax	NOUN
ftr-309	1093	19	revisions	revision	NOUN
ftr-309	1093	20	,	,	PUNCT
ftr-309	1093	21	126	126	NUM
ftr-309	1093	22	u.	u.	NOUN
ftr-309	1093	23	pa	pa	PROPN
ftr-309	1093	24	.	.	PUNCT
ftr-309	1093	25	l.	l.	PROPN
ftr-309	1093	26	rev	rev	PROPN
ftr-309	1093	27	.	.	PROPN
ftr-309	1094	1	47	47	NUM
ftr-309	1094	2	,	,	PUNCT
ftr-309	1094	3	49	49	NUM
ftr-309	1094	4	,	,	PUNCT
ftr-309	1094	5	57	57	NUM
ftr-309	1094	6	-	-	SYM
ftr-309	1094	7	58	58	NUM
ftr-309	1094	8	(	(	PUNCT
ftr-309	1094	9	1977	1977	NUM
ftr-309	1094	10	)	)	PUNCT
ftr-309	1095	1	;	;	PUNCT
ftr-309	1095	2	louis	louis	PROPN
ftr-309	1095	3	kaplow	kaplow	PROPN
ftr-309	1095	4	,	,	PUNCT
ftr-309	1095	5	an	an	DET
ftr-309	1095	6	economic	economic	ADJ
ftr-309	1095	7	analysis	analysis	NOUN
ftr-309	1095	8	of	of	ADP
ftr-309	1095	9	legal	legal	ADJ
ftr-309	1095	10	transitions	transition	NOUN
ftr-309	1095	11	,	,	PUNCT
ftr-309	1095	12	99	99	NUM
ftr-309	1095	13	harv	harv	NOUN
ftr-309	1095	14	.	.	PUNCT
ftr-309	1096	1	l.	l.	PROPN
ftr-309	1096	2	rev	rev	PROPN
ftr-309	1096	3	.	.	PROPN
ftr-309	1096	4	509	509	NUM
ftr-309	1096	5	,	,	PUNCT
ftr-309	1096	6	518	518	NUM
ftr-309	1096	7	(	(	PUNCT
ftr-309	1096	8	1986	1986	NUM
ftr-309	1096	9	)	)	PUNCT
ftr-309	1096	10	.	.	PUNCT
ftr-309	1097	1	169	169	NUM
ftr-309	1097	2	.	.	PUNCT
ftr-309	1098	1	for	for	ADP
ftr-309	1098	2	further	further	ADJ
ftr-309	1098	3	discussion	discussion	NOUN
ftr-309	1098	4	,	,	PUNCT
ftr-309	1098	5	see	see	VERB
ftr-309	1098	6	infra	infra	NOUN
ftr-309	1098	7	part	part	NOUN
ftr-309	1098	8	vi.c	vi.c	VERB
ftr-309	1098	9	.	.	PUNCT
ftr-309	1099	1	170	170	NUM
ftr-309	1099	2	.	.	PUNCT
ftr-309	1100	1	see	see	VERB
ftr-309	1100	2	infra	infra	NOUN
ftr-309	1100	3	note	note	VERB
ftr-309	1100	4	175	175	NUM
ftr-309	1100	5	and	and	CCONJ
ftr-309	1100	6	accompanying	accompany	VERB
ftr-309	1100	7	text	text	NOUN
ftr-309	1100	8	.	.	PUNCT
ftr-309	1101	1	200	200	NUM
ftr-309	1102	1	[	[	X
ftr-309	1102	2	vol	vol	NOUN
ftr-309	1102	3	.	.	PUNCT
ftr-309	1102	4	14:5	14:5	NUM
ftr-309	1102	5	2013	2013	NUM
ftr-309	1102	6	]	]	PUNCT
ftr-309	1102	7	was	be	AUX
ftr-309	1102	8	blackstone	blackstone	NOUN
ftr-309	1102	9	's	's	PART
ftr-309	1102	10	initial	initial	ADJ
ftr-309	1102	11	public	public	ADJ
ftr-309	1102	12	offering	offering	NOUN
ftr-309	1102	13	too	too	ADV
ftr-309	1102	14	good	good	ADJ
ftr-309	1102	15	to	to	PART
ftr-309	1102	16	be	be	AUX
ftr-309	1102	17	true	true	ADJ
ftr-309	1102	18	?	?	PUNCT
ftr-309	1103	1	available	available	ADJ
ftr-309	1103	2	deductions	deduction	NOUN
ftr-309	1103	3	,	,	PUNCT
ftr-309	1103	4	the	the	DET
ftr-309	1103	5	partnership	partnership	NOUN
ftr-309	1103	6	will	will	AUX
ftr-309	1103	7	be	be	AUX
ftr-309	1103	8	subject	subject	ADJ
ftr-309	1103	9	to	to	ADP
ftr-309	1103	10	corporatelevel	corporatelevel	VERB
ftr-309	1103	11	tax	tax	NOUN
ftr-309	1103	12	of	of	ADP
ftr-309	1103	13	35	35	NUM
ftr-309	1103	14	percent	percent	NOUN
ftr-309	1103	15	times	time	NOUN
ftr-309	1103	16	$	$	SYM
ftr-309	1103	17	1,000	1,000	NUM
ftr-309	1103	18	or	or	CCONJ
ftr-309	1103	19	$	$	SYM
ftr-309	1103	20	350	350	NUM
ftr-309	1103	21	.	.	PUNCT
ftr-309	1104	1	if	if	SCONJ
ftr-309	1104	2	,	,	PUNCT
ftr-309	1104	3	instead	instead	ADV
ftr-309	1104	4	,	,	PUNCT
ftr-309	1104	5	the	the	DET
ftr-309	1104	6	additional	additional	ADJ
ftr-309	1104	7	dollar	dollar	NOUN
ftr-309	1104	8	was	be	AUX
ftr-309	1104	9	qualifying	qualify	VERB
ftr-309	1104	10	income	income	NOUN
ftr-309	1104	11	,	,	PUNCT
ftr-309	1104	12	then	then	ADV
ftr-309	1104	13	90	90	NUM
ftr-309	1104	14	percent	percent	NOUN
ftr-309	1104	15	of	of	ADP
ftr-309	1104	16	the	the	DET
ftr-309	1104	17	partnership	partnership	NOUN
ftr-309	1104	18	's	's	PART
ftr-309	1104	19	gross	gross	ADJ
ftr-309	1104	20	income	income	NOUN
ftr-309	1104	21	would	would	AUX
ftr-309	1104	22	be	be	AUX
ftr-309	1104	23	qualifying	qualify	VERB
ftr-309	1104	24	income	income	NOUN
ftr-309	1104	25	,	,	PUNCT
ftr-309	1104	26	and	and	CCONJ
ftr-309	1104	27	the	the	DET
ftr-309	1104	28	partnership	partnership	NOUN
ftr-309	1104	29	would	would	AUX
ftr-309	1104	30	be	be	AUX
ftr-309	1104	31	subject	subject	ADJ
ftr-309	1104	32	to	to	ADP
ftr-309	1104	33	$	$	SYM
ftr-309	1104	34	0	0	NUM
ftr-309	1104	35	of	of	ADP
ftr-309	1104	36	entity	entity	NOUN
ftr-309	1104	37	-	-	PUNCT
ftr-309	1104	38	level	level	NOUN
ftr-309	1104	39	tax	tax	NOUN
ftr-309	1104	40	.	.	PUNCT
ftr-309	1105	1	thus	thus	ADV
ftr-309	1105	2	,	,	PUNCT
ftr-309	1105	3	$	$	SYM
ftr-309	1105	4	350	350	NUM
ftr-309	1105	5	of	of	ADP
ftr-309	1105	6	potential	potential	ADJ
ftr-309	1105	7	tax	tax	NOUN
ftr-309	1105	8	liability	liability	NOUN
ftr-309	1105	9	depends	depend	VERB
ftr-309	1105	10	on	on	ADP
ftr-309	1105	11	how	how	SCONJ
ftr-309	1105	12	merely	merely	ADV
ftr-309	1105	13	one	one	NUM
ftr-309	1105	14	dollar	dollar	NOUN
ftr-309	1105	15	of	of	ADP
ftr-309	1105	16	income	income	NOUN
ftr-309	1105	17	is	be	AUX
ftr-309	1105	18	earned	earn	VERB
ftr-309	1105	19	.	.	PUNCT
ftr-309	1106	1	cliff	cliff	NOUN
ftr-309	1106	2	effects	effect	NOUN
ftr-309	1106	3	are	be	AUX
ftr-309	1106	4	generally	generally	ADV
ftr-309	1106	5	criticized	criticize	VERB
ftr-309	1106	6	.	.	PUNCT
ftr-309	1107	1	'71	'71	NUM
ftr-309	1107	2	as	as	SCONJ
ftr-309	1107	3	demonstrated	demonstrate	VERB
ftr-309	1107	4	by	by	ADP
ftr-309	1107	5	example	example	NOUN
ftr-309	1107	6	6	6	NUM
ftr-309	1107	7	,	,	PUNCT
ftr-309	1107	8	two	two	NUM
ftr-309	1107	9	partnerships	partnership	NOUN
ftr-309	1107	10	could	could	AUX
ftr-309	1107	11	be	be	AUX
ftr-309	1107	12	identical	identical	ADJ
ftr-309	1107	13	in	in	ADP
ftr-309	1107	14	all	all	DET
ftr-309	1107	15	respects	respect	NOUN
ftr-309	1107	16	but	but	CCONJ
ftr-309	1107	17	for	for	ADP
ftr-309	1107	18	how	how	SCONJ
ftr-309	1107	19	one	one	NUM
ftr-309	1107	20	dollar	dollar	NOUN
ftr-309	1107	21	of	of	ADP
ftr-309	1107	22	income	income	NOUN
ftr-309	1107	23	is	be	AUX
ftr-309	1107	24	earned	earn	VERB
ftr-309	1107	25	.	.	PUNCT
ftr-309	1108	1	if	if	SCONJ
ftr-309	1108	2	that	that	DET
ftr-309	1108	3	one	one	NUM
ftr-309	1108	4	dollar	dollar	NOUN
ftr-309	1108	5	is	be	AUX
ftr-309	1108	6	qualifying	qualify	VERB
ftr-309	1108	7	income	income	NOUN
ftr-309	1108	8	,	,	PUNCT
ftr-309	1108	9	the	the	DET
ftr-309	1108	10	partnership	partnership	NOUN
ftr-309	1108	11	owes	owe	VERB
ftr-309	1108	12	no	no	DET
ftr-309	1108	13	tax	tax	NOUN
ftr-309	1108	14	liability	liability	NOUN
ftr-309	1108	15	,	,	PUNCT
ftr-309	1108	16	and	and	CCONJ
ftr-309	1108	17	if	if	SCONJ
ftr-309	1108	18	that	that	DET
ftr-309	1108	19	one	one	NUM
ftr-309	1108	20	dollar	dollar	NOUN
ftr-309	1108	21	is	be	AUX
ftr-309	1108	22	non	non	ADJ
ftr-309	1108	23	-	-	ADJ
ftr-309	1108	24	qualifying	qualifying	ADJ
ftr-309	1108	25	income	income	NOUN
ftr-309	1108	26	,	,	PUNCT
ftr-309	1108	27	the	the	DET
ftr-309	1108	28	partnership	partnership	NOUN
ftr-309	1108	29	owes	owe	VERB
ftr-309	1108	30	significant	significant	ADJ
ftr-309	1108	31	tax	tax	NOUN
ftr-309	1108	32	liability	liability	NOUN
ftr-309	1108	33	.	.	PUNCT
ftr-309	1109	1	such	such	DET
ftr-309	1109	2	a	a	DET
ftr-309	1109	3	result	result	NOUN
ftr-309	1109	4	is	be	AUX
ftr-309	1109	5	arbitrary	arbitrary	ADJ
ftr-309	1109	6	and	and	CCONJ
ftr-309	1109	7	,	,	PUNCT
ftr-309	1109	8	therefore	therefore	ADV
ftr-309	1109	9	,	,	PUNCT
ftr-309	1109	10	potentially	potentially	ADV
ftr-309	1109	11	unfair.1	unfair.1	PUNCT
ftr-309	1109	12	7	7	NUM
ftr-309	1109	13	2	2	NUM
ftr-309	1109	14	171	171	NUM
ftr-309	1109	15	.	.	PUNCT
ftr-309	1110	1	for	for	ADP
ftr-309	1110	2	criticism	criticism	NOUN
ftr-309	1110	3	of	of	ADP
ftr-309	1110	4	cliff	cliff	NOUN
ftr-309	1110	5	effects	effect	NOUN
ftr-309	1110	6	in	in	ADP
ftr-309	1110	7	tax	tax	NOUN
ftr-309	1110	8	generally	generally	ADV
ftr-309	1110	9	,	,	PUNCT
ftr-309	1110	10	see	see	VERB
ftr-309	1110	11	lily	lily	ADJ
ftr-309	1110	12	l.	l.	PROPN
ftr-309	1110	13	batchelder	batchelder	PROPN
ftr-309	1110	14	,	,	PUNCT
ftr-309	1110	15	what	what	PRON
ftr-309	1110	16	should	should	AUX
ftr-309	1110	17	society	society	NOUN
ftr-309	1110	18	expect	expect	VERB
ftr-309	1110	19	from	from	ADP
ftr-309	1110	20	heirs	heir	NOUN
ftr-309	1110	21	?	?	PUNCT
ftr-309	1111	1	the	the	DET
ftr-309	1111	2	case	case	NOUN
ftr-309	1111	3	for	for	ADP
ftr-309	1111	4	a	a	DET
ftr-309	1111	5	comprehensive	comprehensive	ADJ
ftr-309	1111	6	inheritance	inheritance	NOUN
ftr-309	1111	7	tax	tax	NOUN
ftr-309	1111	8	,	,	PUNCT
ftr-309	1111	9	63	63	NUM
ftr-309	1111	10	tax	tax	NOUN
ftr-309	1111	11	l.	l.	PROPN
ftr-309	1111	12	rev	rev	PROPN
ftr-309	1111	13	.	.	PROPN
ftr-309	1111	14	1	1	NUM
ftr-309	1111	15	,	,	PUNCT
ftr-309	1111	16	91	91	NUM
ftr-309	1111	17	n.303	n.303	X
ftr-309	1111	18	(	(	PUNCT
ftr-309	1111	19	2009	2009	NUM
ftr-309	1111	20	)	)	PUNCT
ftr-309	1111	21	;	;	PUNCT
ftr-309	1111	22	karen	karen	PROPN
ftr-309	1111	23	c.	c.	PROPN
ftr-309	1111	24	burke	burke	PROPN
ftr-309	1111	25	&	&	CCONJ
ftr-309	1111	26	grayson	grayson	PROPN
ftr-309	1111	27	m.p	m.p	PROPN
ftr-309	1111	28	.	.	PROPN
ftr-309	1111	29	mccouch	mccouch	PROPN
ftr-309	1111	30	,	,	PUNCT
ftr-309	1111	31	death	death	NOUN
ftr-309	1111	32	without	without	ADP
ftr-309	1111	33	taxes	taxis	NOUN
ftr-309	1111	34	?	?	PUNCT
ftr-309	1111	35	,	,	PUNCT
ftr-309	1111	36	20	20	NUM
ftr-309	1111	37	va	va	NOUN
ftr-309	1111	38	.	.	PUNCT
ftr-309	1111	39	tax	tax	PROPN
ftr-309	1111	40	rev	rev	PROPN
ftr-309	1111	41	.	.	PROPN
ftr-309	1111	42	499	499	NUM
ftr-309	1111	43	,	,	PUNCT
ftr-309	1111	44	531	531	NUM
ftr-309	1111	45	(	(	PUNCT
ftr-309	1111	46	2001	2001	NUM
ftr-309	1111	47	)	)	PUNCT
ftr-309	1111	48	;	;	PUNCT
ftr-309	1111	49	glenn	glenn	PROPN
ftr-309	1111	50	e.	e.	PROPN
ftr-309	1111	51	coven	coven	PROPN
ftr-309	1111	52	,	,	PUNCT
ftr-309	1111	53	taxing	tax	VERB
ftr-309	1111	54	corporate	corporate	ADJ
ftr-309	1111	55	acquisitions	acquisition	NOUN
ftr-309	1111	56	:	:	PUNCT
ftr-309	1111	57	a	a	DET
ftr-309	1111	58	proposal	proposal	NOUN
ftr-309	1111	59	for	for	ADP
ftr-309	1111	60	mandatory	mandatory	ADJ
ftr-309	1111	61	uniform	uniform	ADJ
ftr-309	1111	62	rules	rule	NOUN
ftr-309	1111	63	,	,	PUNCT
ftr-309	1111	64	44	44	NUM
ftr-309	1111	65	tax	tax	NOUN
ftr-309	1111	66	l.	l.	PROPN
ftr-309	1111	67	rev	rev	PROPN
ftr-309	1111	68	.	.	PROPN
ftr-309	1111	69	145	145	NUM
ftr-309	1111	70	,	,	PUNCT
ftr-309	1111	71	174	174	NUM
ftr-309	1111	72	-	-	SYM
ftr-309	1111	73	75	75	NUM
ftr-309	1111	74	(	(	PUNCT
ftr-309	1111	75	1989	1989	NUM
ftr-309	1111	76	)	)	PUNCT
ftr-309	1111	77	;	;	PUNCT
ftr-309	1111	78	deborah	deborah	PROPN
ftr-309	1111	79	l.	l.	PROPN
ftr-309	1111	80	paul	paul	PROPN
ftr-309	1111	81	,	,	PUNCT
ftr-309	1111	82	the	the	DET
ftr-309	1111	83	taxation	taxation	NOUN
ftr-309	1111	84	ofdistressed	ofdistresse	VERB
ftr-309	1111	85	debt	debt	NOUN
ftr-309	1111	86	investments	investment	NOUN
ftr-309	1111	87	:	:	PUNCT
ftr-309	1111	88	taking	take	VERB
ftr-309	1111	89	stock	stock	NOUN
ftr-309	1111	90	,	,	PUNCT
ftr-309	1111	91	tax	tax	NOUN
ftr-309	1111	92	law	law	NOUN
ftr-309	1111	93	.	.	PUNCT
ftr-309	1112	1	37	37	NUM
ftr-309	1112	2	,	,	PUNCT
ftr-309	1112	3	40	40	NUM
ftr-309	1112	4	(	(	PUNCT
ftr-309	1112	5	2010	2010	NUM
ftr-309	1112	6	)	)	PUNCT
ftr-309	1112	7	;	;	PUNCT
ftr-309	1112	8	david	david	PROPN
ftr-309	1112	9	a.	a.	PROPN
ftr-309	1112	10	stein	stein	PROPN
ftr-309	1112	11	,	,	PUNCT
ftr-309	1112	12	ubit	ubit	VERB
ftr-309	1112	13	issues	issue	NOUN
ftr-309	1112	14	in	in	ADP
ftr-309	1112	15	investment	investment	NOUN
ftr-309	1112	16	partnerships	partnership	NOUN
ftr-309	1112	17	:	:	PUNCT
ftr-309	1112	18	what	what	DET
ftr-309	1112	19	tax	tax	NOUN
ftr-309	1112	20	-	-	PUNCT
ftr-309	1112	21	exempt	exempt	ADJ
ftr-309	1112	22	organizations	organization	NOUN
ftr-309	1112	23	(	(	PUNCT
ftr-309	1112	24	and	and	CCONJ
ftr-309	1112	25	their	their	PRON
ftr-309	1112	26	taxable	taxable	ADJ
ftr-309	1112	27	partners	partner	NOUN
ftr-309	1112	28	)	)	PUNCT
ftr-309	1112	29	should	should	AUX
ftr-309	1112	30	know	know	VERB
ftr-309	1112	31	,	,	PUNCT
ftr-309	1112	32	in	in	ADP
ftr-309	1112	33	11	11	NUM
ftr-309	1112	34	the	the	DET
ftr-309	1112	35	partnership	partnership	NOUN
ftr-309	1112	36	tax	tax	NOUN
ftr-309	1112	37	practice	practice	NOUN
ftr-309	1112	38	series	series	NOUN
ftr-309	1112	39	:	:	PUNCT
ftr-309	1112	40	planning	plan	VERB
ftr-309	1112	41	for	for	ADP
ftr-309	1112	42	domestic	domestic	ADJ
ftr-309	1112	43	and	and	CCONJ
ftr-309	1112	44	foreign	foreign	ADJ
ftr-309	1112	45	partnerships	partnership	NOUN
ftr-309	1112	46	,	,	PUNCT
ftr-309	1112	47	llcs	llcs	NOUN
ftr-309	1112	48	,	,	PUNCT
ftr-309	1112	49	joint	joint	ADJ
ftr-309	1112	50	ventures	venture	NOUN
ftr-309	1112	51	&	&	CCONJ
ftr-309	1112	52	strategic	strategic	ADJ
ftr-309	1112	53	alliances	alliance	NOUN
ftr-309	1112	54	2012	2012	NUM
ftr-309	1112	55	198	198	NUM
ftr-309	1112	56	-	-	SYM
ftr-309	1112	57	1	1	NUM
ftr-309	1112	58	,	,	PUNCT
ftr-309	1112	59	198	198	NUM
ftr-309	1112	60	-	-	SYM
ftr-309	1112	61	15	15	NUM
ftr-309	1112	62	(	(	PUNCT
ftr-309	1112	63	louis	louis	PROPN
ftr-309	1112	64	s.	s.	PROPN
ftr-309	1112	65	freeman	freeman	PROPN
ftr-309	1112	66	ed	ed	PROPN
ftr-309	1112	67	.	.	PROPN
ftr-309	1112	68	,	,	PUNCT
ftr-309	1112	69	2012	2012	NUM
ftr-309	1112	70	)	)	PUNCT
ftr-309	1112	71	;	;	PUNCT
ftr-309	1112	72	clinton	clinton	PROPN
ftr-309	1112	73	g.	g.	PROPN
ftr-309	1112	74	wallace	wallace	PROPN
ftr-309	1112	75	,	,	PUNCT
ftr-309	1112	76	the	the	DET
ftr-309	1112	77	case	case	NOUN
ftr-309	1112	78	for	for	ADP
ftr-309	1112	79	tradable	tradable	ADJ
ftr-309	1112	80	tax	tax	NOUN
ftr-309	1112	81	credits	credit	NOUN
ftr-309	1112	82	,	,	PUNCT
ftr-309	1112	83	8	8	NUM
ftr-309	1112	84	n.y.u	n.y.u	NOUN
ftr-309	1112	85	.	.	PUNCT
ftr-309	1113	1	j.l	j.l	PROPN
ftr-309	1113	2	.	.	PROPN
ftr-309	1113	3	&	&	CCONJ
ftr-309	1113	4	bus	bus	PROPN
ftr-309	1113	5	.	.	PUNCT
ftr-309	1114	1	227	227	NUM
ftr-309	1114	2	,	,	PUNCT
ftr-309	1114	3	234	234	NUM
ftr-309	1114	4	(	(	PUNCT
ftr-309	1114	5	2011	2011	NUM
ftr-309	1114	6	)	)	PUNCT
ftr-309	1114	7	;	;	PUNCT
ftr-309	1114	8	lawrence	lawrence	PROPN
ftr-309	1114	9	zelenak	zelenak	PROPN
ftr-309	1114	10	,	,	PUNCT
ftr-309	1114	11	doing	do	VERB
ftr-309	1114	12	something	something	PRON
ftr-309	1114	13	about	about	ADP
ftr-309	1114	14	marriage	marriage	NOUN
ftr-309	1114	15	penalties	penalty	NOUN
ftr-309	1114	16	:	:	PUNCT
ftr-309	1114	17	a	a	DET
ftr-309	1114	18	guide	guide	NOUN
ftr-309	1114	19	for	for	ADP
ftr-309	1114	20	the	the	DET
ftr-309	1114	21	perplexed	perplexed	ADJ
ftr-309	1114	22	,	,	PUNCT
ftr-309	1114	23	54	54	NUM
ftr-309	1114	24	tax	tax	NOUN
ftr-309	1114	25	l.	l.	PROPN
ftr-309	1114	26	rev	rev	PROPN
ftr-309	1114	27	.	.	PROPN
ftr-309	1114	28	1	1	NUM
ftr-309	1114	29	,	,	PUNCT
ftr-309	1114	30	59	59	NUM
ftr-309	1114	31	(	(	PUNCT
ftr-309	1114	32	2000	2000	NUM
ftr-309	1114	33	)	)	PUNCT
ftr-309	1114	34	;	;	PUNCT
ftr-309	1114	35	lawrence	lawrence	PROPN
ftr-309	1114	36	zelenak	zelenak	PROPN
ftr-309	1114	37	,	,	PUNCT
ftr-309	1114	38	taxing	tax	VERB
ftr-309	1114	39	gains	gain	NOUN
ftr-309	1114	40	at	at	ADP
ftr-309	1114	41	death	death	NOUN
ftr-309	1114	42	,	,	PUNCT
ftr-309	1114	43	46	46	NUM
ftr-309	1114	44	vand	vand	NOUN
ftr-309	1114	45	.	.	PUNCT
ftr-309	1115	1	l.	l.	PROPN
ftr-309	1115	2	rev	rev	PROPN
ftr-309	1115	3	.	.	PROPN
ftr-309	1115	4	361	361	NUM
ftr-309	1115	5	,	,	PUNCT
ftr-309	1115	6	416	416	NUM
ftr-309	1115	7	-	-	SYM
ftr-309	1115	8	17	17	NUM
ftr-309	1115	9	(	(	PUNCT
ftr-309	1115	10	1993	1993	NUM
ftr-309	1115	11	)	)	PUNCT
ftr-309	1115	12	.	.	PUNCT
ftr-309	1116	1	172	172	X
ftr-309	1116	2	.	.	PUNCT
ftr-309	1116	3	rules	rule	NOUN
ftr-309	1116	4	that	that	PRON
ftr-309	1116	5	create	create	VERB
ftr-309	1116	6	cliff	cliff	NOUN
ftr-309	1116	7	effects	effect	NOUN
ftr-309	1116	8	might	might	AUX
ftr-309	1116	9	also	also	ADV
ftr-309	1116	10	be	be	AUX
ftr-309	1116	11	criticized	criticize	VERB
ftr-309	1116	12	for	for	ADP
ftr-309	1116	13	distorting	distort	VERB
ftr-309	1116	14	taxpayers	taxpayer	NOUN
ftr-309	1116	15	'	'	PART
ftr-309	1116	16	decisions	decision	NOUN
ftr-309	1116	17	.	.	PUNCT
ftr-309	1117	1	in	in	ADP
ftr-309	1117	2	example	example	NOUN
ftr-309	1117	3	6	6	NUM
ftr-309	1117	4	,	,	PUNCT
ftr-309	1117	5	for	for	ADP
ftr-309	1117	6	instance	instance	NOUN
ftr-309	1117	7	,	,	PUNCT
ftr-309	1117	8	the	the	DET
ftr-309	1117	9	partnership	partnership	NOUN
ftr-309	1117	10	has	have	VERB
ftr-309	1117	11	a	a	DET
ftr-309	1117	12	very	very	ADV
ftr-309	1117	13	strong	strong	ADJ
ftr-309	1117	14	tax	tax	NOUN
ftr-309	1117	15	motivation	motivation	NOUN
ftr-309	1117	16	to	to	PART
ftr-309	1117	17	earn	earn	VERB
ftr-309	1117	18	one	one	NUM
ftr-309	1117	19	dollar	dollar	NOUN
ftr-309	1117	20	of	of	ADP
ftr-309	1117	21	qualifying	qualify	VERB
ftr-309	1117	22	income	income	NOUN
ftr-309	1117	23	rather	rather	ADV
ftr-309	1117	24	than	than	ADP
ftr-309	1117	25	one	one	NUM
ftr-309	1117	26	dollar	dollar	NOUN
ftr-309	1117	27	of	of	ADP
ftr-309	1117	28	nonqualifying	nonqualifye	VERB
ftr-309	1117	29	income	income	NOUN
ftr-309	1117	30	.	.	PUNCT
ftr-309	1118	1	this	this	DET
ftr-309	1118	2	strong	strong	ADJ
ftr-309	1118	3	tax	tax	NOUN
ftr-309	1118	4	incentive	incentive	NOUN
ftr-309	1118	5	could	could	AUX
ftr-309	1118	6	encourage	encourage	VERB
ftr-309	1118	7	the	the	DET
ftr-309	1118	8	taxpayer	taxpayer	NOUN
ftr-309	1118	9	to	to	PART
ftr-309	1118	10	earn	earn	VERB
ftr-309	1118	11	one	one	NUM
ftr-309	1118	12	dollar	dollar	NOUN
ftr-309	1118	13	of	of	ADP
ftr-309	1118	14	qualifying	qualify	VERB
ftr-309	1118	15	income	income	NOUN
ftr-309	1118	16	even	even	ADV
ftr-309	1118	17	when	when	SCONJ
ftr-309	1118	18	there	there	PRON
ftr-309	1118	19	are	be	VERB
ftr-309	1118	20	good	good	ADJ
ftr-309	1118	21	non	non	ADJ
ftr-309	1118	22	-	-	ADJ
ftr-309	1118	23	tax	tax	ADJ
ftr-309	1118	24	reasons	reason	NOUN
ftr-309	1118	25	to	to	PART
ftr-309	1118	26	engage	engage	VERB
ftr-309	1118	27	,	,	PUNCT
ftr-309	1118	28	instead	instead	ADV
ftr-309	1118	29	,	,	PUNCT
ftr-309	1118	30	in	in	ADP
ftr-309	1118	31	the	the	DET
ftr-309	1118	32	activity	activity	NOUN
ftr-309	1118	33	that	that	PRON
ftr-309	1118	34	would	would	AUX
ftr-309	1118	35	generate	generate	VERB
ftr-309	1118	36	non	non	ADJ
ftr-309	1118	37	-	-	ADJ
ftr-309	1118	38	qualifying	qualifying	ADJ
ftr-309	1118	39	income	income	NOUN
ftr-309	1118	40	.	.	PUNCT
ftr-309	1119	1	although	although	SCONJ
ftr-309	1119	2	rules	rule	NOUN
ftr-309	1119	3	that	that	PRON
ftr-309	1119	4	produce	produce	VERB
ftr-309	1119	5	cliff	cliff	NOUN
ftr-309	1119	6	effects	effect	NOUN
ftr-309	1119	7	can	can	AUX
ftr-309	1119	8	distort	distort	VERB
ftr-309	1119	9	taxpayers	taxpayer	NOUN
ftr-309	1119	10	'	'	PART
ftr-309	1119	11	decisions	decision	NOUN
ftr-309	1119	12	,	,	PUNCT
ftr-309	1119	13	it	it	PRON
ftr-309	1119	14	is	be	AUX
ftr-309	1119	15	not	not	PART
ftr-309	1119	16	clear	clear	ADJ
ftr-309	1119	17	that	that	SCONJ
ftr-309	1119	18	gradual	gradual	ADJ
ftr-309	1119	19	rules	rule	NOUN
ftr-309	1119	20	would	would	AUX
ftr-309	1119	21	distort	distort	VERB
ftr-309	1119	22	decisions	decision	NOUN
ftr-309	1119	23	to	to	ADP
ftr-309	1119	24	a	a	DET
ftr-309	1119	25	lesser	less	ADJ
ftr-309	1119	26	extent	extent	NOUN
ftr-309	1119	27	overall	overall	ADV
ftr-309	1119	28	.	.	PUNCT
ftr-309	1120	1	under	under	ADP
ftr-309	1120	2	a	a	DET
ftr-309	1120	3	gradual	gradual	ADJ
ftr-309	1120	4	rule	rule	NOUN
ftr-309	1120	5	that	that	PRON
ftr-309	1120	6	provides	provide	VERB
ftr-309	1120	7	that	that	SCONJ
ftr-309	1120	8	all	all	DET
ftr-309	1120	9	non	non	ADJ
ftr-309	1120	10	-	-	ADJ
ftr-309	1120	11	qualifying	qualifying	ADJ
ftr-309	1120	12	(	(	PUNCT
ftr-309	1120	13	and	and	CCONJ
ftr-309	1120	14	no	no	DET
ftr-309	1120	15	qualifying	qualify	VERB
ftr-309	1120	16	income	income	NOUN
ftr-309	1120	17	)	)	PUNCT
ftr-309	1120	18	is	be	AUX
ftr-309	1120	19	subject	subject	ADJ
ftr-309	1120	20	to	to	ADP
ftr-309	1120	21	entity	entity	NOUN
ftr-309	1120	22	-	-	PUNCT
ftr-309	1120	23	level	level	NOUN
ftr-309	1120	24	tax	tax	NOUN
ftr-309	1120	25	,	,	PUNCT
ftr-309	1120	26	the	the	DET
ftr-309	1120	27	decisions	decision	NOUN
ftr-309	1120	28	of	of	ADP
ftr-309	1120	29	a	a	DET
ftr-309	1120	30	partnership	partnership	NOUN
ftr-309	1120	31	under	under	ADP
ftr-309	1120	32	the	the	DET
ftr-309	1120	33	facts	fact	NOUN
ftr-309	1120	34	of	of	ADP
ftr-309	1120	35	example	example	NOUN
ftr-309	1120	36	6	6	NUM
ftr-309	1120	37	will	will	AUX
ftr-309	1120	38	be	be	AUX
ftr-309	1120	39	less	less	ADV
ftr-309	1120	40	subject	subject	ADJ
ftr-309	1120	41	to	to	ADP
ftr-309	1120	42	distortion	distortion	NOUN
ftr-309	1120	43	than	than	SCONJ
ftr-309	1120	44	such	such	ADJ
ftr-309	1120	45	decisions	decision	NOUN
ftr-309	1120	46	would	would	AUX
ftr-309	1120	47	be	be	AUX
ftr-309	1120	48	under	under	ADP
ftr-309	1120	49	current	current	ADJ
ftr-309	1120	50	law	law	NOUN
ftr-309	1120	51	.	.	PUNCT
ftr-309	1121	1	under	under	ADP
ftr-309	1121	2	current	current	ADJ
ftr-309	1121	3	law	law	NOUN
ftr-309	1121	4	,	,	PUNCT
ftr-309	1121	5	the	the	DET
ftr-309	1121	6	taxpayer	taxpayer	NOUN
ftr-309	1121	7	incurs	incur	VERB
ftr-309	1121	8	$	$	SYM
ftr-309	1121	9	350	350	NUM
ftr-309	1121	10	tax	tax	NOUN
ftr-309	1121	11	by	by	ADP
ftr-309	1121	12	earning	earn	VERB
ftr-309	1121	13	one	one	NUM
ftr-309	1121	14	dollar	dollar	NOUN
ftr-309	1121	15	of	of	ADP
ftr-309	1121	16	non	non	ADJ
ftr-309	1121	17	-	-	ADJ
ftr-309	1121	18	qualifying	qualifying	ADJ
ftr-309	1121	19	income	income	NOUN
ftr-309	1121	20	so	so	SCONJ
ftr-309	1121	21	tax	tax	NOUN
ftr-309	1121	22	consequences	consequence	NOUN
ftr-309	1121	23	almost	almost	ADV
ftr-309	1121	24	certainly	certainly	ADV
ftr-309	1121	25	will	will	AUX
ftr-309	1121	26	dissuade	dissuade	VERB
ftr-309	1121	27	the	the	DET
ftr-309	1121	28	taxpayer	taxpayer	NOUN
ftr-309	1121	29	from	from	ADP
ftr-309	1121	30	engaging	engage	VERB
ftr-309	1121	31	in	in	ADP
ftr-309	1121	32	the	the	DET
ftr-309	1121	33	activity	activity	NOUN
ftr-309	1121	34	that	that	PRON
ftr-309	1121	35	generates	generate	VERB
ftr-309	1121	36	that	that	DET
ftr-309	1121	37	income	income	NOUN
ftr-309	1121	38	.	.	PUNCT
ftr-309	1122	1	by	by	ADP
ftr-309	1122	2	contrast	contrast	NOUN
ftr-309	1122	3	,	,	PUNCT
ftr-309	1122	4	under	under	ADP
ftr-309	1122	5	a	a	DET
ftr-309	1122	6	gradual	gradual	ADJ
ftr-309	1122	7	rule	rule	NOUN
ftr-309	1122	8	,	,	PUNCT
ftr-309	1122	9	the	the	DET
ftr-309	1122	10	taxpayer	taxpayer	NOUN
ftr-309	1122	11	would	would	AUX
ftr-309	1122	12	only	only	ADV
ftr-309	1122	13	incur	incur	VERB
ftr-309	1122	14	an	an	DET
ftr-309	1122	15	additional	additional	ADJ
ftr-309	1122	16	thirty	thirty	NUM
ftr-309	1122	17	-	-	PUNCT
ftr-309	1122	18	five	five	NUM
ftr-309	1122	19	cents	cent	NOUN
ftr-309	1122	20	of	of	ADP
ftr-309	1122	21	tax	tax	NOUN
ftr-309	1122	22	and	and	CCONJ
ftr-309	1122	23	thus	thus	ADV
ftr-309	1122	24	might	might	AUX
ftr-309	1122	25	still	still	ADV
ftr-309	1122	26	undertake	undertake	VERB
ftr-309	1122	27	the	the	DET
ftr-309	1122	28	activity	activity	NOUN
ftr-309	1122	29	despite	despite	SCONJ
ftr-309	1122	30	the	the	DET
ftr-309	1122	31	tax	tax	NOUN
ftr-309	1122	32	consequences	consequence	NOUN
ftr-309	1122	33	.	.	PUNCT
ftr-309	1123	1	however	however	ADV
ftr-309	1123	2	,	,	PUNCT
ftr-309	1123	3	compared	compare	VERB
ftr-309	1123	4	to	to	ADP
ftr-309	1123	5	current	current	ADJ
ftr-309	1123	6	law	law	NOUN
ftr-309	1123	7	,	,	PUNCT
ftr-309	1123	8	a	a	DET
ftr-309	1123	9	gradual	gradual	ADJ
ftr-309	1123	10	rule	rule	NOUN
ftr-309	1123	11	could	could	AUX
ftr-309	1123	12	cause	cause	VERB
ftr-309	1123	13	even	even	ADV
ftr-309	1123	14	greater	great	ADJ
ftr-309	1123	15	distortions	distortion	NOUN
ftr-309	1123	16	in	in	ADP
ftr-309	1123	17	the	the	DET
ftr-309	1123	18	decisions	decision	NOUN
ftr-309	1123	19	of	of	ADP
ftr-309	1123	20	partnerships	partnership	NOUN
ftr-309	1123	21	that	that	PRON
ftr-309	1123	22	201	201	NUM
ftr-309	1123	23	florida	florida	PROPN
ftr-309	1123	24	tax	tax	NOUN
ftr-309	1123	25	review	review	NOUN
ftr-309	1123	26	a	a	DET
ftr-309	1123	27	rule	rule	NOUN
ftr-309	1123	28	that	that	PRON
ftr-309	1123	29	causes	cause	VERB
ftr-309	1123	30	a	a	DET
ftr-309	1123	31	"	"	PUNCT
ftr-309	1123	32	cliff	cliff	NOUN
ftr-309	1123	33	effect	effect	NOUN
ftr-309	1123	34	"	"	PUNCT
ftr-309	1123	35	can	can	AUX
ftr-309	1123	36	be	be	AUX
ftr-309	1123	37	contrasted	contrast	VERB
ftr-309	1123	38	with	with	ADP
ftr-309	1123	39	a	a	DET
ftr-309	1123	40	rule	rule	NOUN
ftr-309	1123	41	under	under	ADP
ftr-309	1123	42	which	which	PRON
ftr-309	1123	43	tax	tax	NOUN
ftr-309	1123	44	results	result	NOUN
ftr-309	1123	45	change	change	VERB
ftr-309	1123	46	gradually	gradually	ADV
ftr-309	1123	47	in	in	ADP
ftr-309	1123	48	response	response	NOUN
ftr-309	1123	49	to	to	ADP
ftr-309	1123	50	incremental	incremental	ADJ
ftr-309	1123	51	non	non	ADJ
ftr-309	1123	52	-	-	ADJ
ftr-309	1123	53	tax	tax	ADJ
ftr-309	1123	54	changes	change	NOUN
ftr-309	1123	55	.	.	PUNCT
ftr-309	1124	1	for	for	ADP
ftr-309	1124	2	instance	instance	NOUN
ftr-309	1124	3	,	,	PUNCT
ftr-309	1124	4	instead	instead	ADV
ftr-309	1124	5	of	of	ADP
ftr-309	1124	6	the	the	DET
ftr-309	1124	7	current	current	ADJ
ftr-309	1124	8	publicly	publicly	ADV
ftr-309	1124	9	traded	trade	VERB
ftr-309	1124	10	partnership	partnership	NOUN
ftr-309	1124	11	rules	rule	NOUN
ftr-309	1124	12	(	(	PUNCT
ftr-309	1124	13	under	under	ADP
ftr-309	1124	14	which	which	PRON
ftr-309	1124	15	a	a	DET
ftr-309	1124	16	publicly	publicly	ADV
ftr-309	1124	17	traded	trade	VERB
ftr-309	1124	18	partnership	partnership	NOUN
ftr-309	1124	19	bears	bear	VERB
ftr-309	1124	20	no	no	DET
ftr-309	1124	21	entity	entity	NOUN
ftr-309	1124	22	-	-	PUNCT
ftr-309	1124	23	level	level	NOUN
ftr-309	1124	24	tax	tax	NOUN
ftr-309	1124	25	if	if	SCONJ
ftr-309	1124	26	at	at	ADV
ftr-309	1124	27	least	least	ADV
ftr-309	1124	28	90	90	NUM
ftr-309	1124	29	percent	percent	NOUN
ftr-309	1124	30	of	of	ADP
ftr-309	1124	31	its	its	PRON
ftr-309	1124	32	gross	gross	ADJ
ftr-309	1124	33	income	income	NOUN
ftr-309	1124	34	is	be	AUX
ftr-309	1124	35	qualifying	qualify	VERB
ftr-309	1124	36	income	income	NOUN
ftr-309	1124	37	but	but	CCONJ
ftr-309	1124	38	bears	bear	VERB
ftr-309	1124	39	entity	entity	NOUN
ftr-309	1124	40	-	-	PUNCT
ftr-309	1124	41	level	level	NOUN
ftr-309	1124	42	tax	tax	NOUN
ftr-309	1124	43	on	on	ADP
ftr-309	1124	44	all	all	PRON
ftr-309	1124	45	of	of	ADP
ftr-309	1124	46	its	its	PRON
ftr-309	1124	47	income	income	NOUN
ftr-309	1124	48	if	if	SCONJ
ftr-309	1124	49	only	only	ADV
ftr-309	1124	50	89.99	89.99	NUM
ftr-309	1124	51	percent	percent	NOUN
ftr-309	1124	52	of	of	ADP
ftr-309	1124	53	its	its	PRON
ftr-309	1124	54	income	income	NOUN
ftr-309	1124	55	is	be	AUX
ftr-309	1124	56	qualifying	qualify	VERB
ftr-309	1124	57	income	income	NOUN
ftr-309	1124	58	)	)	PUNCT
ftr-309	1124	59	,	,	PUNCT
ftr-309	1124	60	tax	tax	NOUN
ftr-309	1124	61	law	law	NOUN
ftr-309	1124	62	could	could	AUX
ftr-309	1124	63	provide	provide	VERB
ftr-309	1124	64	that	that	SCONJ
ftr-309	1124	65	every	every	DET
ftr-309	1124	66	publicly	publicly	ADV
ftr-309	1124	67	traded	trade	VERB
ftr-309	1124	68	partnership	partnership	NOUN
ftr-309	1124	69	pays	pay	VERB
ftr-309	1124	70	entity	entity	NOUN
ftr-309	1124	71	-	-	PUNCT
ftr-309	1124	72	level	level	NOUN
ftr-309	1124	73	tax	tax	NOUN
ftr-309	1124	74	on	on	ADP
ftr-309	1124	75	all	all	PRON
ftr-309	1124	76	of	of	ADP
ftr-309	1124	77	its	its	PRON
ftr-309	1124	78	non	non	ADJ
ftr-309	1124	79	-	-	ADJ
ftr-309	1124	80	qualifying	qualifying	ADJ
ftr-309	1124	81	income	income	NOUN
ftr-309	1124	82	(	(	PUNCT
ftr-309	1124	83	less	less	ADV
ftr-309	1124	84	allowable	allowable	ADJ
ftr-309	1124	85	deductions	deduction	NOUN
ftr-309	1124	86	)	)	PUNCT
ftr-309	1124	87	,	,	PUNCT
ftr-309	1124	88	but	but	CCONJ
ftr-309	1124	89	no	no	DET
ftr-309	1124	90	publicly	publicly	ADV
ftr-309	1124	91	traded	trade	VERB
ftr-309	1124	92	partnership	partnership	NOUN
ftr-309	1124	93	pays	pay	VERB
ftr-309	1124	94	entity	entity	NOUN
ftr-309	1124	95	-	-	PUNCT
ftr-309	1124	96	level	level	NOUN
ftr-309	1124	97	tax	tax	NOUN
ftr-309	1124	98	on	on	ADP
ftr-309	1124	99	its	its	PRON
ftr-309	1124	100	qualifying	qualifying	NOUN
ftr-309	1124	101	income	income	NOUN
ftr-309	1124	102	.	.	PUNCT
ftr-309	1125	1	thus	thus	ADV
ftr-309	1125	2	,	,	PUNCT
ftr-309	1125	3	in	in	ADP
ftr-309	1125	4	example	example	NOUN
ftr-309	1125	5	6	6	NUM
ftr-309	1125	6	,	,	PUNCT
ftr-309	1125	7	if	if	SCONJ
ftr-309	1125	8	the	the	DET
ftr-309	1125	9	additional	additional	ADJ
ftr-309	1125	10	one	one	NUM
ftr-309	1125	11	dollar	dollar	NOUN
ftr-309	1125	12	earned	earn	VERB
ftr-309	1125	13	by	by	ADP
ftr-309	1125	14	the	the	DET
ftr-309	1125	15	partnership	partnership	NOUN
ftr-309	1125	16	is	be	AUX
ftr-309	1125	17	non	non	ADJ
ftr-309	1125	18	-	-	ADJ
ftr-309	1125	19	qualifying	qualifying	ADJ
ftr-309	1125	20	income	income	NOUN
ftr-309	1125	21	,	,	PUNCT
ftr-309	1125	22	assuming	assume	VERB
ftr-309	1125	23	no	no	DET
ftr-309	1125	24	available	available	ADJ
ftr-309	1125	25	deductions	deduction	NOUN
ftr-309	1125	26	,	,	PUNCT
ftr-309	1125	27	the	the	DET
ftr-309	1125	28	partnership	partnership	NOUN
ftr-309	1125	29	's	's	PART
ftr-309	1125	30	tax	tax	NOUN
ftr-309	1125	31	liability	liability	NOUN
ftr-309	1125	32	is	be	AUX
ftr-309	1125	33	$	$	SYM
ftr-309	1125	34	101	101	NUM
ftr-309	1125	35	times	time	NOUN
ftr-309	1125	36	35	35	NUM
ftr-309	1125	37	percent	percent	NOUN
ftr-309	1125	38	(	(	PUNCT
ftr-309	1125	39	or	or	CCONJ
ftr-309	1125	40	$	$	SYM
ftr-309	1125	41	35.35	35.35	NUM
ftr-309	1125	42	)	)	PUNCT
ftr-309	1125	43	.	.	PUNCT
ftr-309	1126	1	if	if	SCONJ
ftr-309	1126	2	the	the	DET
ftr-309	1126	3	additional	additional	ADJ
ftr-309	1126	4	one	one	NUM
ftr-309	1126	5	dollar	dollar	NOUN
ftr-309	1126	6	earned	earn	VERB
ftr-309	1126	7	by	by	ADP
ftr-309	1126	8	the	the	DET
ftr-309	1126	9	partnership	partnership	NOUN
ftr-309	1126	10	is	be	AUX
ftr-309	1126	11	qualifying	qualify	VERB
ftr-309	1126	12	income	income	NOUN
ftr-309	1126	13	,	,	PUNCT
ftr-309	1126	14	the	the	DET
ftr-309	1126	15	partnership	partnership	NOUN
ftr-309	1126	16	's	's	PART
ftr-309	1126	17	tax	tax	NOUN
ftr-309	1126	18	liability	liability	NOUN
ftr-309	1126	19	is	be	AUX
ftr-309	1126	20	$	$	SYM
ftr-309	1126	21	100	100	NUM
ftr-309	1126	22	times	time	NOUN
ftr-309	1126	23	35	35	NUM
ftr-309	1126	24	percent	percent	NOUN
ftr-309	1126	25	or	or	CCONJ
ftr-309	1126	26	(	(	PUNCT
ftr-309	1126	27	$	$	SYM
ftr-309	1126	28	35	35	NUM
ftr-309	1126	29	)	)	PUNCT
ftr-309	1126	30	.	.	PUNCT
ftr-309	1127	1	consequently	consequently	ADV
ftr-309	1127	2	,	,	PUNCT
ftr-309	1127	3	the	the	DET
ftr-309	1127	4	only	only	ADJ
ftr-309	1127	5	additional	additional	ADJ
ftr-309	1127	6	tax	tax	NOUN
ftr-309	1127	7	burden	burden	NOUN
ftr-309	1127	8	borne	bear	VERB
ftr-309	1127	9	by	by	ADP
ftr-309	1127	10	the	the	DET
ftr-309	1127	11	partnership	partnership	NOUN
ftr-309	1127	12	as	as	ADP
ftr-309	1127	13	a	a	DET
ftr-309	1127	14	result	result	NOUN
ftr-309	1127	15	of	of	ADP
ftr-309	1127	16	earning	earn	VERB
ftr-309	1127	17	an	an	DET
ftr-309	1127	18	additional	additional	ADJ
ftr-309	1127	19	one	one	NUM
ftr-309	1127	20	dollar	dollar	NOUN
ftr-309	1127	21	of	of	ADP
ftr-309	1127	22	non	non	ADJ
ftr-309	1127	23	-	-	ADJ
ftr-309	1127	24	qualifying	qualifying	ADJ
ftr-309	1127	25	income	income	NOUN
ftr-309	1127	26	is	be	AUX
ftr-309	1127	27	35	35	NUM
ftr-309	1127	28	cents	cent	NOUN
ftr-309	1127	29	(	(	PUNCT
ftr-309	1127	30	35	35	NUM
ftr-309	1127	31	percent	percent	NOUN
ftr-309	1127	32	times	time	NOUN
ftr-309	1127	33	the	the	DET
ftr-309	1127	34	additional	additional	ADJ
ftr-309	1127	35	dollar	dollar	NOUN
ftr-309	1127	36	)	)	PUNCT
ftr-309	1127	37	.	.	PUNCT
ftr-309	1128	1	by	by	ADP
ftr-309	1128	2	contrast	contrast	NOUN
ftr-309	1128	3	,	,	PUNCT
ftr-309	1128	4	under	under	ADP
ftr-309	1128	5	current	current	ADJ
ftr-309	1128	6	law	law	NOUN
ftr-309	1128	7	,	,	PUNCT
ftr-309	1128	8	the	the	DET
ftr-309	1128	9	additional	additional	ADJ
ftr-309	1128	10	dollar	dollar	NOUN
ftr-309	1128	11	results	result	NOUN
ftr-309	1128	12	in	in	ADP
ftr-309	1128	13	an	an	DET
ftr-309	1128	14	increase	increase	NOUN
ftr-309	1128	15	in	in	ADP
ftr-309	1128	16	tax	tax	NOUN
ftr-309	1128	17	liability	liability	NOUN
ftr-309	1128	18	from	from	ADP
ftr-309	1128	19	$	$	SYM
ftr-309	1128	20	0	0	NUM
ftr-309	1128	21	to	to	ADP
ftr-309	1128	22	$	$	SYM
ftr-309	1128	23	350	350	NUM
ftr-309	1128	24	.	.	PUNCT
ftr-309	1129	1	the	the	DET
ftr-309	1129	2	blackstone	blackstone	NOUN
ftr-309	1129	3	group	group	NOUN
ftr-309	1129	4	lp	lp	PROPN
ftr-309	1129	5	structure	structure	NOUN
ftr-309	1129	6	manufactures	manufacture	VERB
ftr-309	1129	7	results	result	NOUN
ftr-309	1129	8	that	that	PRON
ftr-309	1129	9	mimic	mimic	VERB
ftr-309	1129	10	the	the	DET
ftr-309	1129	11	results	result	NOUN
ftr-309	1129	12	of	of	ADP
ftr-309	1129	13	the	the	DET
ftr-309	1129	14	gradual	gradual	ADJ
ftr-309	1129	15	rule	rule	NOUN
ftr-309	1129	16	described	describe	VERB
ftr-309	1129	17	above	above	ADV
ftr-309	1129	18	.	.	PUNCT
ftr-309	1130	1	in	in	ADP
ftr-309	1130	2	particular	particular	ADJ
ftr-309	1130	3	,	,	PUNCT
ftr-309	1130	4	under	under	ADP
ftr-309	1130	5	the	the	DET
ftr-309	1130	6	blackstone	blackstone	NOUN
ftr-309	1130	7	group	group	NOUN
ftr-309	1130	8	lp	lp	PROPN
ftr-309	1130	9	structure	structure	NOUN
ftr-309	1130	10	,	,	PUNCT
ftr-309	1130	11	non	non	ADJ
ftr-309	1130	12	-	-	ADJ
ftr-309	1130	13	qualifying	qualifying	ADJ
ftr-309	1130	14	income	income	NOUN
ftr-309	1130	15	is	be	AUX
ftr-309	1130	16	subject	subject	ADJ
ftr-309	1130	17	to	to	ADP
ftr-309	1130	18	corporate	corporate	ADJ
ftr-309	1130	19	-	-	PUNCT
ftr-309	1130	20	level	level	NOUN
ftr-309	1130	21	tax	tax	NOUN
ftr-309	1130	22	(	(	PUNCT
ftr-309	1130	23	or	or	CCONJ
ftr-309	1130	24	at	at	ADP
ftr-309	1130	25	least	least	ADJ
ftr-309	1130	26	most	most	ADJ
ftr-309	1130	27	of	of	ADP
ftr-309	1130	28	it	it	PRON
ftr-309	1130	29	is	be	AUX
ftr-309	1130	30	)	)	PUNCT
ftr-309	1130	31	,	,	PUNCT
ftr-309	1130	32	73	73	NUM
ftr-309	1130	33	but	but	CCONJ
ftr-309	1130	34	qualifying	qualify	VERB
ftr-309	1130	35	income	income	NOUN
ftr-309	1130	36	is	be	AUX
ftr-309	1130	37	not	not	PART
ftr-309	1130	38	subject	subject	ADJ
ftr-309	1130	39	to	to	ADP
ftr-309	1130	40	corporate	corporate	ADJ
ftr-309	1130	41	-	-	PUNCT
ftr-309	1130	42	level	level	NOUN
ftr-309	1130	43	tax	tax	NOUN
ftr-309	1130	44	.	.	PUNCT
ftr-309	1131	1	the	the	DET
ftr-309	1131	2	same	same	ADJ
ftr-309	1131	3	result	result	NOUN
ftr-309	1131	4	follows	follow	VERB
ftr-309	1131	5	from	from	ADP
ftr-309	1131	6	the	the	DET
ftr-309	1131	7	gradual	gradual	ADJ
ftr-309	1131	8	rule	rule	NOUN
ftr-309	1131	9	described	describe	VERB
ftr-309	1131	10	above	above	ADV
ftr-309	1131	11	.	.	PUNCT
ftr-309	1132	1	thus	thus	ADV
ftr-309	1132	2	,	,	PUNCT
ftr-309	1132	3	blackstone	blackstone	NOUN
ftr-309	1132	4	group	group	PROPN
ftr-309	1132	5	lp	lp	PROPN
ftr-309	1132	6	effectively	effectively	ADV
ftr-309	1132	7	planned	plan	VERB
ftr-309	1132	8	around	around	ADP
ftr-309	1132	9	a	a	DET
ftr-309	1132	10	rule	rule	NOUN
ftr-309	1132	11	that	that	PRON
ftr-309	1132	12	causes	cause	VERB
ftr-309	1132	13	an	an	DET
ftr-309	1132	14	undesirable	undesirable	ADJ
ftr-309	1132	15	"	"	PUNCT
ftr-309	1132	16	cliff	cliff	NOUN
ftr-309	1132	17	effect	effect	NOUN
ftr-309	1132	18	.	.	PUNCT
ftr-309	1132	19	"	"	PUNCT
ftr-309	1133	1	for	for	ADP
ftr-309	1133	2	this	this	DET
ftr-309	1133	3	reason	reason	NOUN
ftr-309	1133	4	,	,	PUNCT
ftr-309	1133	5	the	the	DET
ftr-309	1133	6	results	result	NOUN
ftr-309	1133	7	claimed	claim	VERB
ftr-309	1133	8	by	by	ADP
ftr-309	1133	9	blackstone	blackstone	NOUN
ftr-309	1133	10	group	group	NOUN
ftr-309	1133	11	may	may	AUX
ftr-309	1133	12	be	be	AUX
ftr-309	1133	13	more	more	ADV
ftr-309	1133	14	sensible	sensible	ADJ
ftr-309	1133	15	and	and	CCONJ
ftr-309	1133	16	less	less	ADV
ftr-309	1133	17	arbitrary	arbitrary	ADJ
ftr-309	1133	18	than	than	ADP
ftr-309	1133	19	the	the	DET
ftr-309	1133	20	results	result	NOUN
ftr-309	1133	21	that	that	PRON
ftr-309	1133	22	follow	follow	VERB
ftr-309	1133	23	from	from	ADP
ftr-309	1133	24	the	the	DET
ftr-309	1133	25	laws	law	NOUN
ftr-309	1133	26	that	that	PRON
ftr-309	1133	27	currently	currently	ADV
ftr-309	1133	28	exist.174	exist.174	PROPN
ftr-309	1133	29	earn	earn	VERB
ftr-309	1133	30	well	well	ADV
ftr-309	1133	31	over	over	ADP
ftr-309	1133	32	90	90	NUM
ftr-309	1133	33	percent	percent	NOUN
ftr-309	1133	34	qualifying	qualify	VERB
ftr-309	1133	35	income	income	NOUN
ftr-309	1133	36	,	,	PUNCT
ftr-309	1133	37	for	for	ADP
ftr-309	1133	38	example	example	NOUN
ftr-309	1133	39	.	.	PUNCT
ftr-309	1134	1	under	under	ADP
ftr-309	1134	2	current	current	ADJ
ftr-309	1134	3	law	law	NOUN
ftr-309	1134	4	,	,	PUNCT
ftr-309	1134	5	such	such	ADJ
ftr-309	1134	6	partnerships	partnership	NOUN
ftr-309	1134	7	can	can	AUX
ftr-309	1134	8	earn	earn	VERB
ftr-309	1134	9	one	one	NUM
ftr-309	1134	10	dollar	dollar	NOUN
ftr-309	1134	11	of	of	ADP
ftr-309	1134	12	non	non	ADJ
ftr-309	1134	13	-	-	ADJ
ftr-309	1134	14	qualifying	qualifying	ADJ
ftr-309	1134	15	income	income	NOUN
ftr-309	1134	16	or	or	CCONJ
ftr-309	1134	17	one	one	NUM
ftr-309	1134	18	dollar	dollar	NOUN
ftr-309	1134	19	of	of	ADP
ftr-309	1134	20	qualifying	qualify	VERB
ftr-309	1134	21	income	income	NOUN
ftr-309	1134	22	without	without	ADP
ftr-309	1134	23	incurring	incur	VERB
ftr-309	1134	24	any	any	DET
ftr-309	1134	25	entity	entity	NOUN
ftr-309	1134	26	-	-	PUNCT
ftr-309	1134	27	level	level	NOUN
ftr-309	1134	28	tax	tax	NOUN
ftr-309	1134	29	.	.	PUNCT
ftr-309	1135	1	thus	thus	ADV
ftr-309	1135	2	,	,	PUNCT
ftr-309	1135	3	tax	tax	NOUN
ftr-309	1135	4	consequences	consequence	NOUN
ftr-309	1135	5	will	will	AUX
ftr-309	1135	6	not	not	PART
ftr-309	1135	7	distort	distort	VERB
ftr-309	1135	8	the	the	DET
ftr-309	1135	9	decision	decision	NOUN
ftr-309	1135	10	between	between	ADP
ftr-309	1135	11	the	the	DET
ftr-309	1135	12	two	two	NUM
ftr-309	1135	13	types	type	NOUN
ftr-309	1135	14	of	of	ADP
ftr-309	1135	15	income	income	NOUN
ftr-309	1135	16	.	.	PUNCT
ftr-309	1136	1	under	under	ADP
ftr-309	1136	2	a	a	DET
ftr-309	1136	3	gradual	gradual	ADJ
ftr-309	1136	4	rule	rule	NOUN
ftr-309	1136	5	,	,	PUNCT
ftr-309	1136	6	such	such	ADJ
ftr-309	1136	7	partnerships	partnership	NOUN
ftr-309	1136	8	could	could	AUX
ftr-309	1136	9	earn	earn	VERB
ftr-309	1136	10	one	one	NUM
ftr-309	1136	11	dollar	dollar	NOUN
ftr-309	1136	12	of	of	ADP
ftr-309	1136	13	qualifying	qualify	VERB
ftr-309	1136	14	income	income	NOUN
ftr-309	1136	15	without	without	ADP
ftr-309	1136	16	incurring	incur	VERB
ftr-309	1136	17	any	any	DET
ftr-309	1136	18	entitylevel	entitylevel	ADJ
ftr-309	1136	19	tax	tax	NOUN
ftr-309	1136	20	but	but	CCONJ
ftr-309	1136	21	would	would	AUX
ftr-309	1136	22	incur	incur	VERB
ftr-309	1136	23	thirty	thirty	NUM
ftr-309	1136	24	-	-	PUNCT
ftr-309	1136	25	five	five	NUM
ftr-309	1136	26	cents	cent	NOUN
ftr-309	1136	27	of	of	ADP
ftr-309	1136	28	entity	entity	NOUN
ftr-309	1136	29	-	-	PUNCT
ftr-309	1136	30	level	level	NOUN
ftr-309	1136	31	tax	tax	NOUN
ftr-309	1136	32	as	as	ADP
ftr-309	1136	33	a	a	DET
ftr-309	1136	34	result	result	NOUN
ftr-309	1136	35	of	of	ADP
ftr-309	1136	36	earning	earn	VERB
ftr-309	1136	37	one	one	NUM
ftr-309	1136	38	dollar	dollar	NOUN
ftr-309	1136	39	non	non	ADJ
ftr-309	1136	40	-	-	ADJ
ftr-309	1136	41	qualifying	qualifying	ADJ
ftr-309	1136	42	income	income	NOUN
ftr-309	1136	43	.	.	PUNCT
ftr-309	1137	1	thus	thus	ADV
ftr-309	1137	2	,	,	PUNCT
ftr-309	1137	3	as	as	SCONJ
ftr-309	1137	4	compared	compare	VERB
ftr-309	1137	5	to	to	ADP
ftr-309	1137	6	current	current	ADJ
ftr-309	1137	7	law	law	NOUN
ftr-309	1137	8	,	,	PUNCT
ftr-309	1137	9	a	a	DET
ftr-309	1137	10	gradual	gradual	ADJ
ftr-309	1137	11	rule	rule	NOUN
ftr-309	1137	12	could	could	AUX
ftr-309	1137	13	cause	cause	VERB
ftr-309	1137	14	greater	great	ADJ
ftr-309	1137	15	distortions	distortion	NOUN
ftr-309	1137	16	in	in	ADP
ftr-309	1137	17	the	the	DET
ftr-309	1137	18	decisions	decision	NOUN
ftr-309	1137	19	made	make	VERB
ftr-309	1137	20	by	by	ADP
ftr-309	1137	21	partnerships	partnership	NOUN
ftr-309	1137	22	with	with	ADP
ftr-309	1137	23	well	well	ADV
ftr-309	1137	24	over	over	ADP
ftr-309	1137	25	(	(	PUNCT
ftr-309	1137	26	or	or	CCONJ
ftr-309	1137	27	well	well	ADV
ftr-309	1137	28	under	under	ADJ
ftr-309	1137	29	)	)	PUNCT
ftr-309	1137	30	90	90	NUM
ftr-309	1137	31	percent	percent	NOUN
ftr-309	1137	32	qualifying	qualify	VERB
ftr-309	1137	33	income	income	NOUN
ftr-309	1137	34	.	.	PUNCT
ftr-309	1138	1	for	for	ADP
ftr-309	1138	2	a	a	DET
ftr-309	1138	3	similar	similar	ADJ
ftr-309	1138	4	discussion	discussion	NOUN
ftr-309	1138	5	,	,	PUNCT
ftr-309	1138	6	see	see	VERB
ftr-309	1138	7	weisbach	weisbach	NOUN
ftr-309	1138	8	,	,	PUNCT
ftr-309	1138	9	formalism	formalism	NOUN
ftr-309	1138	10	,	,	PUNCT
ftr-309	1138	11	supra	supra	PROPN
ftr-309	1138	12	note	note	NOUN
ftr-309	1138	13	139	139	NUM
ftr-309	1138	14	,	,	PUNCT
ftr-309	1138	15	at	at	ADP
ftr-309	1138	16	873	873	NUM
ftr-309	1138	17	-	-	SYM
ftr-309	1138	18	74	74	NUM
ftr-309	1138	19	.	.	PUNCT
ftr-309	1139	1	173	173	NUM
ftr-309	1139	2	.	.	PUNCT
ftr-309	1140	1	it	it	PRON
ftr-309	1140	2	is	be	AUX
ftr-309	1140	3	not	not	PART
ftr-309	1140	4	all	all	PRON
ftr-309	1140	5	subject	subject	ADJ
ftr-309	1140	6	to	to	ADP
ftr-309	1140	7	corporate	corporate	ADJ
ftr-309	1140	8	-	-	PUNCT
ftr-309	1140	9	level	level	NOUN
ftr-309	1140	10	tax	tax	NOUN
ftr-309	1140	11	because	because	SCONJ
ftr-309	1140	12	of	of	ADP
ftr-309	1140	13	the	the	DET
ftr-309	1140	14	potential	potential	ADJ
ftr-309	1140	15	use	use	NOUN
ftr-309	1140	16	of	of	ADP
ftr-309	1140	17	interest	interest	NOUN
ftr-309	1140	18	expense	expense	NOUN
ftr-309	1140	19	to	to	PART
ftr-309	1140	20	reduce	reduce	VERB
ftr-309	1140	21	u.s	u.s	PROPN
ftr-309	1140	22	.	.	PROPN
ftr-309	1140	23	subsidiary	subsidiary	NOUN
ftr-309	1140	24	's	's	PART
ftr-309	1140	25	tax	tax	NOUN
ftr-309	1140	26	liability	liability	NOUN
ftr-309	1140	27	and	and	CCONJ
ftr-309	1140	28	because	because	SCONJ
ftr-309	1140	29	non	non	ADJ
ftr-309	1140	30	-	-	ADJ
ftr-309	1140	31	u.s	u.s	PROPN
ftr-309	1140	32	.	.	PROPN
ftr-309	1140	33	subsidiary	subsidiary	NOUN
ftr-309	1140	34	is	be	AUX
ftr-309	1140	35	not	not	PART
ftr-309	1140	36	subject	subject	ADJ
ftr-309	1140	37	to	to	ADP
ftr-309	1140	38	tax	tax	NOUN
ftr-309	1140	39	.	.	PUNCT
ftr-309	1141	1	see	see	VERB
ftr-309	1141	2	supra	supra	PROPN
ftr-309	1141	3	parts	part	NOUN
ftr-309	1141	4	ii.c	ii.c	VERB
ftr-309	1141	5	.	.	PUNCT
ftr-309	1142	1	,	,	PUNCT
ftr-309	1142	2	ii.d	ii.d	PRON
ftr-309	1142	3	.	.	PUNCT
ftr-309	1143	1	174	174	NUM
ftr-309	1143	2	.	.	PUNCT
ftr-309	1144	1	along	along	ADP
ftr-309	1144	2	similar	similar	ADJ
ftr-309	1144	3	lines	line	NOUN
ftr-309	1144	4	,	,	PUNCT
ftr-309	1144	5	professor	professor	NOUN
ftr-309	1144	6	fleischer	fleischer	NOUN
ftr-309	1144	7	suggested	suggest	VERB
ftr-309	1144	8	that	that	SCONJ
ftr-309	1144	9	blackstone	blackstone	NOUN
ftr-309	1144	10	group	group	NOUN
ftr-309	1144	11	might	might	AUX
ftr-309	1144	12	argue	argue	VERB
ftr-309	1144	13	that	that	SCONJ
ftr-309	1144	14	its	its	PRON
ftr-309	1144	15	structure	structure	NOUN
ftr-309	1144	16	leads	lead	VERB
ftr-309	1144	17	to	to	ADP
ftr-309	1144	18	more	more	ADV
ftr-309	1144	19	sensible	sensible	ADJ
ftr-309	1144	20	results	result	NOUN
ftr-309	1144	21	than	than	ADP
ftr-309	1144	22	what	what	PRON
ftr-309	1144	23	the	the	DET
ftr-309	1144	24	law	law	NOUN
ftr-309	1144	25	provides	provide	VERB
ftr-309	1144	26	because	because	SCONJ
ftr-309	1144	27	the	the	DET
ftr-309	1144	28	structure	structure	NOUN
ftr-309	1144	29	brings	bring	VERB
ftr-309	1144	30	its	its	PRON
ftr-309	1144	31	tax	tax	NOUN
ftr-309	1144	32	treatment	treatment	NOUN
ftr-309	1144	33	closer	close	ADV
ftr-309	1144	34	to	to	PART
ftr-309	1144	35	pass	pass	VERB
ftr-309	1144	36	-	-	PUNCT
ftr-309	1144	37	through	through	ADP
ftr-309	1144	38	tax	tax	NOUN
ftr-309	1144	39	treatment	treatment	NOUN
ftr-309	1144	40	enjoyed	enjoy	VERB
ftr-309	1144	41	by	by	ADP
ftr-309	1144	42	similar	similar	ADJ
ftr-309	1144	43	entities	entity	NOUN
ftr-309	1144	44	.	.	PUNCT
ftr-309	1145	1	see	see	VERB
ftr-309	1145	2	fleischer	fleischer	NOUN
ftr-309	1145	3	,	,	PUNCT
ftr-309	1145	4	taxing	tax	VERB
ftr-309	1145	5	blackstone	blackstone	NOUN
ftr-309	1145	6	,	,	PUNCT
ftr-309	1145	7	supra	supra	PROPN
ftr-309	1145	8	note	note	PROPN
ftr-309	1145	9	1	1	NUM
ftr-309	1145	10	,	,	PUNCT
ftr-309	1146	1	[	[	X
ftr-309	1146	2	vol	vol	NOUN
ftr-309	1146	3	.	.	PUNCT
ftr-309	1147	1	14:5202	14:5202	NUM
ftr-309	1147	2	2013	2013	NUM
ftr-309	1147	3	]	]	PUNCT
ftr-309	1147	4	was	be	AUX
ftr-309	1147	5	blackstone	blackstone	NOUN
ftr-309	1147	6	's	's	PART
ftr-309	1147	7	initial	initial	ADJ
ftr-309	1147	8	public	public	ADJ
ftr-309	1147	9	offering	offering	NOUN
ftr-309	1147	10	too	too	ADV
ftr-309	1147	11	good	good	ADJ
ftr-309	1147	12	to	to	PART
ftr-309	1147	13	be	be	AUX
ftr-309	1147	14	true	true	ADJ
ftr-309	1147	15	?	?	PUNCT
ftr-309	1148	1	the	the	DET
ftr-309	1148	2	problem	problem	NOUN
ftr-309	1148	3	with	with	ADP
ftr-309	1148	4	this	this	DET
ftr-309	1148	5	rationale	rationale	NOUN
ftr-309	1148	6	for	for	ADP
ftr-309	1148	7	the	the	DET
ftr-309	1148	8	irs	irs	PROPN
ftr-309	1148	9	's	's	PART
ftr-309	1148	10	inaction	inaction	NOUN
ftr-309	1148	11	is	be	AUX
ftr-309	1148	12	that	that	SCONJ
ftr-309	1148	13	,	,	PUNCT
ftr-309	1148	14	although	although	SCONJ
ftr-309	1148	15	it	it	PRON
ftr-309	1148	16	might	might	AUX
ftr-309	1148	17	justify	justify	VERB
ftr-309	1148	18	changing	change	VERB
ftr-309	1148	19	the	the	DET
ftr-309	1148	20	publicly	publicly	ADV
ftr-309	1148	21	traded	trade	VERB
ftr-309	1148	22	partnership	partnership	NOUN
ftr-309	1148	23	rules	rule	NOUN
ftr-309	1148	24	so	so	SCONJ
ftr-309	1148	25	that	that	SCONJ
ftr-309	1148	26	they	they	PRON
ftr-309	1148	27	include	include	VERB
ftr-309	1148	28	a	a	DET
ftr-309	1148	29	gradual	gradual	ADJ
ftr-309	1148	30	rule	rule	NOUN
ftr-309	1148	31	like	like	ADP
ftr-309	1148	32	the	the	DET
ftr-309	1148	33	one	one	NOUN
ftr-309	1148	34	described	describe	VERB
ftr-309	1148	35	above	above	ADV
ftr-309	1148	36	,	,	PUNCT
ftr-309	1148	37	it	it	PRON
ftr-309	1148	38	does	do	AUX
ftr-309	1148	39	not	not	PART
ftr-309	1148	40	justify	justify	VERB
ftr-309	1148	41	allowing	allow	VERB
ftr-309	1148	42	blackstone	blackstone	NOUN
ftr-309	1148	43	group	group	NOUN
ftr-309	1148	44	to	to	PART
ftr-309	1148	45	remedy	remedy	VERB
ftr-309	1148	46	the	the	DET
ftr-309	1148	47	problem	problem	NOUN
ftr-309	1148	48	by	by	ADP
ftr-309	1148	49	using	use	VERB
ftr-309	1148	50	a	a	DET
ftr-309	1148	51	structure	structure	NOUN
ftr-309	1148	52	that	that	PRON
ftr-309	1148	53	takes	take	VERB
ftr-309	1148	54	advantage	advantage	NOUN
ftr-309	1148	55	of	of	ADP
ftr-309	1148	56	unintended	unintended	ADJ
ftr-309	1148	57	consequences	consequence	NOUN
ftr-309	1148	58	of	of	ADP
ftr-309	1148	59	the	the	DET
ftr-309	1148	60	partnership	partnership	NOUN
ftr-309	1148	61	tax	tax	NOUN
ftr-309	1148	62	allocation	allocation	NOUN
ftr-309	1148	63	rules	rule	NOUN
ftr-309	1148	64	.	.	PUNCT
ftr-309	1149	1	allowing	allow	VERB
ftr-309	1149	2	blackstone	blackstone	NOUN
ftr-309	1149	3	group	group	NOUN
ftr-309	1149	4	to	to	PART
ftr-309	1149	5	work	work	VERB
ftr-309	1149	6	around	around	ADP
ftr-309	1149	7	the	the	DET
ftr-309	1149	8	current	current	ADJ
ftr-309	1149	9	partnership	partnership	NOUN
ftr-309	1149	10	tax	tax	NOUN
ftr-309	1149	11	allocation	allocation	NOUN
ftr-309	1149	12	rules	rule	NOUN
ftr-309	1149	13	erodes	erode	VERB
ftr-309	1149	14	the	the	DET
ftr-309	1149	15	integrity	integrity	NOUN
ftr-309	1149	16	of	of	ADP
ftr-309	1149	17	the	the	DET
ftr-309	1149	18	tax	tax	NOUN
ftr-309	1149	19	system	system	NOUN
ftr-309	1149	20	and	and	CCONJ
ftr-309	1149	21	contributes	contribute	VERB
ftr-309	1149	22	to	to	ADP
ftr-309	1149	23	the	the	DET
ftr-309	1149	24	perception	perception	NOUN
ftr-309	1149	25	that	that	SCONJ
ftr-309	1149	26	sophisticated	sophisticated	ADJ
ftr-309	1149	27	taxpayers	taxpayer	NOUN
ftr-309	1149	28	are	be	AUX
ftr-309	1149	29	not	not	PART
ftr-309	1149	30	subject	subject	ADJ
ftr-309	1149	31	to	to	ADP
ftr-309	1149	32	the	the	DET
ftr-309	1149	33	same	same	ADJ
ftr-309	1149	34	tax	tax	NOUN
ftr-309	1149	35	rules	rule	NOUN
ftr-309	1149	36	that	that	PRON
ftr-309	1149	37	apply	apply	VERB
ftr-309	1149	38	to	to	ADP
ftr-309	1149	39	the	the	DET
ftr-309	1149	40	rest	rest	NOUN
ftr-309	1149	41	of	of	ADP
ftr-309	1149	42	us	we	PRON
ftr-309	1149	43	.	.	PUNCT
ftr-309	1150	1	175	175	NUM
ftr-309	1151	1	moreover	moreover	ADV
ftr-309	1151	2	,	,	PUNCT
ftr-309	1151	3	it	it	PRON
ftr-309	1151	4	may	may	AUX
ftr-309	1151	5	embolden	embolden	VERB
ftr-309	1151	6	at	at	ADP
ftr-309	1151	7	111	111	NUM
ftr-309	1151	8	(	(	PUNCT
ftr-309	1151	9	"	"	PUNCT
ftr-309	1151	10	blackstone	blackstone	NOUN
ftr-309	1151	11	's	's	PART
ftr-309	1151	12	strongest	strong	ADJ
ftr-309	1151	13	argument	argument	NOUN
ftr-309	1151	14	is	be	AUX
ftr-309	1151	15	to	to	PART
ftr-309	1151	16	push	push	VERB
ftr-309	1151	17	for	for	ADP
ftr-309	1151	18	a	a	DET
ftr-309	1151	19	principled	principled	ADJ
ftr-309	1151	20	distinction	distinction	NOUN
ftr-309	1151	21	between	between	ADP
ftr-309	1151	22	firms	firm	NOUN
ftr-309	1151	23	that	that	PRON
ftr-309	1151	24	are	be	AUX
ftr-309	1151	25	subject	subject	ADJ
ftr-309	1151	26	to	to	ADP
ftr-309	1151	27	the	the	DET
ftr-309	1151	28	corporate	corporate	ADJ
ftr-309	1151	29	tax	tax	NOUN
ftr-309	1151	30	and	and	CCONJ
ftr-309	1151	31	firms	firm	NOUN
ftr-309	1151	32	that	that	PRON
ftr-309	1151	33	are	be	AUX
ftr-309	1151	34	not	not	PART
ftr-309	1151	35	.	.	PUNCT
ftr-309	1151	36	.	.	PUNCT
ftr-309	1151	37	.	.	PUNCT
ftr-309	1151	38	.	.	PUNCT
ftr-309	1152	1	many	many	ADJ
ftr-309	1152	2	active	active	ADJ
ftr-309	1152	3	oil	oil	NOUN
ftr-309	1152	4	and	and	CCONJ
ftr-309	1152	5	gas	gas	NOUN
ftr-309	1152	6	,	,	PUNCT
ftr-309	1152	7	timber	timber	NOUN
ftr-309	1152	8	,	,	PUNCT
ftr-309	1152	9	and	and	CCONJ
ftr-309	1152	10	other	other	ADJ
ftr-309	1152	11	energy	energy	NOUN
ftr-309	1152	12	companies	company	NOUN
ftr-309	1152	13	can	can	AUX
ftr-309	1152	14	operate	operate	VERB
ftr-309	1152	15	as	as	ADP
ftr-309	1152	16	ptps	ptps	NOUN
ftr-309	1152	17	under	under	ADP
ftr-309	1152	18	the	the	DET
ftr-309	1152	19	passive	passive	ADJ
ftr-309	1152	20	income	income	NOUN
ftr-309	1152	21	exception	exception	NOUN
ftr-309	1152	22	,	,	PUNCT
ftr-309	1152	23	and	and	CCONJ
ftr-309	1152	24	some	some	PRON
ftr-309	1152	25	do	do	VERB
ftr-309	1152	26	.	.	PUNCT
ftr-309	1153	1	similarly	similarly	ADV
ftr-309	1153	2	,	,	PUNCT
ftr-309	1153	3	many	many	ADJ
ftr-309	1153	4	real	real	ADJ
ftr-309	1153	5	estate	estate	NOUN
ftr-309	1153	6	firms	firm	NOUN
ftr-309	1153	7	operate	operate	VERB
ftr-309	1153	8	without	without	ADP
ftr-309	1153	9	paying	pay	VERB
ftr-309	1153	10	a	a	DET
ftr-309	1153	11	corporate	corporate	ADJ
ftr-309	1153	12	level	level	NOUN
ftr-309	1153	13	tax	tax	NOUN
ftr-309	1153	14	,	,	PUNCT
ftr-309	1153	15	either	either	CCONJ
ftr-309	1153	16	through	through	ADP
ftr-309	1153	17	the	the	DET
ftr-309	1153	18	ptp	ptp	PROPN
ftr-309	1153	19	rules	rule	NOUN
ftr-309	1153	20	(	(	PUNCT
ftr-309	1153	21	which	which	PRON
ftr-309	1153	22	allow	allow	VERB
ftr-309	1153	23	certain	certain	ADJ
ftr-309	1153	24	rental	rental	ADJ
ftr-309	1153	25	activities	activity	NOUN
ftr-309	1153	26	to	to	PART
ftr-309	1153	27	qualify	qualify	VERB
ftr-309	1153	28	as	as	ADP
ftr-309	1153	29	passive	passive	ADJ
ftr-309	1153	30	income	income	NOUN
ftr-309	1153	31	)	)	PUNCT
ftr-309	1153	32	or	or	CCONJ
ftr-309	1153	33	the	the	DET
ftr-309	1153	34	reit	reit	NOUN
ftr-309	1153	35	rules	rule	NOUN
ftr-309	1153	36	.	.	PUNCT
ftr-309	1154	1	congress	congress	PROPN
ftr-309	1154	2	created	create	VERB
ftr-309	1154	3	a	a	DET
ftr-309	1154	4	special	special	ADJ
ftr-309	1154	5	rule	rule	NOUN
ftr-309	1154	6	for	for	ADP
ftr-309	1154	7	reits	reit	NOUN
ftr-309	1154	8	.	.	PUNCT
ftr-309	1155	1	..	..	PUNCT
ftr-309	1155	2	which	which	PRON
ftr-309	1155	3	allows	allow	VERB
ftr-309	1155	4	them	they	PRON
ftr-309	1155	5	to	to	PART
ftr-309	1155	6	'	'	PUNCT
ftr-309	1155	7	cleanse	cleanse	VERB
ftr-309	1155	8	'	'	PUNCT
ftr-309	1155	9	small	small	ADJ
ftr-309	1155	10	amounts	amount	NOUN
ftr-309	1155	11	of	of	ADP
ftr-309	1155	12	'	'	PUNCT
ftr-309	1155	13	bad	bad	ADJ
ftr-309	1155	14	'	'	PUNCT
ftr-309	1155	15	income	income	NOUN
ftr-309	1155	16	through	through	ADP
ftr-309	1155	17	a	a	DET
ftr-309	1155	18	taxable	taxable	ADJ
ftr-309	1155	19	reit	reit	NOUN
ftr-309	1155	20	subsidiary	subsidiary	NOUN
ftr-309	1155	21	,	,	PUNCT
ftr-309	1155	22	much	much	ADV
ftr-309	1155	23	like	like	ADP
ftr-309	1155	24	the	the	DET
ftr-309	1155	25	blocker	blocker	NOUN
ftr-309	1155	26	entity	entity	NOUN
ftr-309	1155	27	in	in	ADP
ftr-309	1155	28	the	the	DET
ftr-309	1155	29	[	[	X
ftr-309	1155	30	blackstone	blackstone	NOUN
ftr-309	1155	31	group	group	NOUN
ftr-309	1155	32	]	]	PUNCT
ftr-309	1155	33	structure	structure	NOUN
ftr-309	1155	34	.	.	PUNCT
ftr-309	1156	1	insurance	insurance	NOUN
ftr-309	1156	2	companies	company	NOUN
ftr-309	1156	3	,	,	PUNCT
ftr-309	1156	4	cooperatives	cooperative	NOUN
ftr-309	1156	5	,	,	PUNCT
ftr-309	1156	6	and	and	CCONJ
ftr-309	1156	7	other	other	ADJ
ftr-309	1156	8	industry	industry	NOUN
ftr-309	1156	9	groups	group	NOUN
ftr-309	1156	10	have	have	VERB
ftr-309	1156	11	their	their	PRON
ftr-309	1156	12	own	own	ADJ
ftr-309	1156	13	methods	method	NOUN
ftr-309	1156	14	of	of	ADP
ftr-309	1156	15	managing	manage	VERB
ftr-309	1156	16	corporate	corporate	ADJ
ftr-309	1156	17	tax	tax	NOUN
ftr-309	1156	18	liability	liability	NOUN
ftr-309	1156	19	.	.	PUNCT
ftr-309	1157	1	why	why	SCONJ
ftr-309	1157	2	not	not	PART
ftr-309	1157	3	blackstone	blackstone	NOUN
ftr-309	1157	4	?	?	PUNCT
ftr-309	1157	5	"	"	PUNCT
ftr-309	1157	6	)	)	PUNCT
ftr-309	1157	7	.	.	PUNCT
ftr-309	1158	1	175	175	NUM
ftr-309	1158	2	.	.	PUNCT
ftr-309	1159	1	for	for	ADP
ftr-309	1159	2	a	a	DET
ftr-309	1159	3	similar	similar	ADJ
ftr-309	1159	4	argument	argument	NOUN
ftr-309	1159	5	in	in	ADP
ftr-309	1159	6	the	the	DET
ftr-309	1159	7	context	context	NOUN
ftr-309	1159	8	of	of	ADP
ftr-309	1159	9	blackstone	blackstone	NOUN
ftr-309	1159	10	,	,	PUNCT
ftr-309	1159	11	see	see	VERB
ftr-309	1159	12	fleischer	fleischer	NOUN
ftr-309	1159	13	,	,	PUNCT
ftr-309	1159	14	taxing	tax	VERB
ftr-309	1159	15	blackstone	blackstone	NOUN
ftr-309	1159	16	,	,	PUNCT
ftr-309	1159	17	supra	supra	PROPN
ftr-309	1159	18	note	note	PROPN
ftr-309	1159	19	1	1	NUM
ftr-309	1159	20	,	,	PUNCT
ftr-309	1159	21	at	at	ADP
ftr-309	1159	22	114	114	NUM
ftr-309	1159	23	,	,	PUNCT
ftr-309	1159	24	stating	state	VERB
ftr-309	1159	25	:	:	PUNCT
ftr-309	1159	26	"	"	PUNCT
ftr-309	1159	27	the	the	DET
ftr-309	1159	28	more	more	ADV
ftr-309	1159	29	powerful	powerful	ADJ
ftr-309	1159	30	'	'	PUNCT
ftr-309	1159	31	rule	rule	NOUN
ftr-309	1159	32	of	of	ADP
ftr-309	1159	33	law	law	NOUN
ftr-309	1159	34	'	'	PUNCT
ftr-309	1159	35	argument	argument	NOUN
ftr-309	1159	36	relates	relate	VERB
ftr-309	1159	37	to	to	ADP
ftr-309	1159	38	the	the	DET
ftr-309	1159	39	gamesmanship	gamesmanship	NOUN
ftr-309	1159	40	of	of	ADP
ftr-309	1159	41	the	the	DET
ftr-309	1159	42	deal	deal	NOUN
ftr-309	1159	43	.	.	PUNCT
ftr-309	1160	1	rather	rather	ADV
ftr-309	1160	2	than	than	SCONJ
ftr-309	1160	3	lobby	lobby	VERB
ftr-309	1160	4	for	for	ADP
ftr-309	1160	5	a	a	DET
ftr-309	1160	6	legislative	legislative	ADJ
ftr-309	1160	7	change	change	NOUN
ftr-309	1160	8	,	,	PUNCT
ftr-309	1160	9	blackstone	blackstone	NOUN
ftr-309	1160	10	thumbed	thumb	VERB
ftr-309	1160	11	its	its	PRON
ftr-309	1160	12	nose	nose	NOUN
ftr-309	1160	13	at	at	ADP
ftr-309	1160	14	congress	congress	PROPN
ftr-309	1160	15	,	,	PUNCT
ftr-309	1160	16	cleverly	cleverly	ADV
ftr-309	1160	17	structuring	structure	VERB
ftr-309	1160	18	its	its	PRON
ftr-309	1160	19	way	way	NOUN
ftr-309	1160	20	around	around	ADP
ftr-309	1160	21	the	the	DET
ftr-309	1160	22	corporate	corporate	ADJ
ftr-309	1160	23	tax	tax	NOUN
ftr-309	1160	24	.	.	PUNCT
ftr-309	1161	1	it	it	PRON
ftr-309	1161	2	relied	rely	VERB
ftr-309	1161	3	on	on	ADP
ftr-309	1161	4	self	self	NOUN
ftr-309	1161	5	-	-	PUNCT
ftr-309	1161	6	help	help	NOUN
ftr-309	1161	7	.	.	PUNCT
ftr-309	1162	1	...	...	PUNCT
ftr-309	1163	1	while	while	SCONJ
ftr-309	1163	2	certainly	certainly	ADV
ftr-309	1163	3	not	not	PART
ftr-309	1163	4	a	a	DET
ftr-309	1163	5	crime	crime	NOUN
ftr-309	1163	6	,	,	PUNCT
ftr-309	1163	7	there	there	PRON
ftr-309	1163	8	is	be	VERB
ftr-309	1163	9	something	something	PRON
ftr-309	1163	10	to	to	PART
ftr-309	1163	11	be	be	AUX
ftr-309	1163	12	said	say	VERB
ftr-309	1163	13	for	for	ADP
ftr-309	1163	14	responding	respond	VERB
ftr-309	1163	15	swiftly	swiftly	ADV
ftr-309	1163	16	to	to	ADP
ftr-309	1163	17	new	new	ADJ
ftr-309	1163	18	structures	structure	NOUN
ftr-309	1163	19	that	that	PRON
ftr-309	1163	20	erode	erode	VERB
ftr-309	1163	21	the	the	DET
ftr-309	1163	22	corporate	corporate	ADJ
ftr-309	1163	23	tax	tax	NOUN
ftr-309	1163	24	base	base	NOUN
ftr-309	1163	25	.	.	PUNCT
ftr-309	1164	1	the	the	DET
ftr-309	1164	2	bill	bill	NOUN
ftr-309	1164	3	,	,	PUNCT
ftr-309	1164	4	in	in	ADP
ftr-309	1164	5	other	other	ADJ
ftr-309	1164	6	words	word	NOUN
ftr-309	1164	7	,	,	PUNCT
ftr-309	1164	8	has	have	VERB
ftr-309	1164	9	some	some	DET
ftr-309	1164	10	independent	independent	ADJ
ftr-309	1164	11	merit	merit	NOUN
ftr-309	1164	12	as	as	ADP
ftr-309	1164	13	a	a	DET
ftr-309	1164	14	matter	matter	NOUN
ftr-309	1164	15	of	of	ADP
ftr-309	1164	16	protecting	protect	VERB
ftr-309	1164	17	the	the	DET
ftr-309	1164	18	integrity	integrity	NOUN
ftr-309	1164	19	of	of	ADP
ftr-309	1164	20	the	the	DET
ftr-309	1164	21	tax	tax	NOUN
ftr-309	1164	22	system	system	NOUN
ftr-309	1164	23	,	,	PUNCT
ftr-309	1164	24	however	however	ADV
ftr-309	1164	25	theoretically	theoretically	ADV
ftr-309	1164	26	flawed	flawed	ADJ
ftr-309	1164	27	that	that	SCONJ
ftr-309	1164	28	system	system	NOUN
ftr-309	1164	29	may	may	AUX
ftr-309	1164	30	be	be	AUX
ftr-309	1164	31	.	.	PUNCT
ftr-309	1164	32	"	"	PUNCT
ftr-309	1165	1	for	for	ADP
ftr-309	1165	2	a	a	DET
ftr-309	1165	3	similar	similar	ADJ
ftr-309	1165	4	argument	argument	NOUN
ftr-309	1165	5	regarding	regard	VERB
ftr-309	1165	6	tax	tax	NOUN
ftr-309	1165	7	planning	planning	NOUN
ftr-309	1165	8	generally	generally	ADV
ftr-309	1165	9	,	,	PUNCT
ftr-309	1165	10	see	see	VERB
ftr-309	1165	11	david	david	PROPN
ftr-309	1165	12	a.	a.	PROPN
ftr-309	1165	13	weisbach	weisbach	PROPN
ftr-309	1165	14	,	,	PUNCT
ftr-309	1165	15	ten	ten	NUM
ftr-309	1165	16	truths	truth	NOUN
ftr-309	1165	17	about	about	ADP
ftr-309	1165	18	tax	tax	NOUN
ftr-309	1165	19	shelters	shelter	NOUN
ftr-309	1165	20	,	,	PUNCT
ftr-309	1165	21	55	55	NUM
ftr-309	1165	22	tax	tax	NOUN
ftr-309	1165	23	l.	l.	PROPN
ftr-309	1165	24	rev	rev	PROPN
ftr-309	1165	25	.	.	PROPN
ftr-309	1165	26	215	215	NUM
ftr-309	1165	27	,	,	PUNCT
ftr-309	1165	28	225	225	NUM
ftr-309	1165	29	(	(	PUNCT
ftr-309	1165	30	2002	2002	NUM
ftr-309	1165	31	)	)	PUNCT
ftr-309	1166	1	[	[	X
ftr-309	1166	2	hereinafter	hereinafter	NOUN
ftr-309	1166	3	weisbach	weisbach	NOUN
ftr-309	1166	4	,	,	PUNCT
ftr-309	1166	5	ten	ten	NUM
ftr-309	1166	6	truths	truth	NOUN
ftr-309	1166	7	]	]	PUNCT
ftr-309	1166	8	,	,	PUNCT
ftr-309	1166	9	stating	state	VERB
ftr-309	1166	10	:	:	PUNCT
ftr-309	1166	11	the	the	DET
ftr-309	1166	12	most	most	ADV
ftr-309	1166	13	difficult	difficult	ADJ
ftr-309	1166	14	case	case	NOUN
ftr-309	1166	15	is	be	AUX
ftr-309	1166	16	where	where	SCONJ
ftr-309	1166	17	there	there	PRON
ftr-309	1166	18	is	be	VERB
ftr-309	1166	19	an	an	DET
ftr-309	1166	20	obvious	obvious	ADJ
ftr-309	1166	21	wart	wart	NOUN
ftr-309	1166	22	on	on	ADP
ftr-309	1166	23	the	the	DET
ftr-309	1166	24	tax	tax	NOUN
ftr-309	1166	25	system	system	NOUN
ftr-309	1166	26	and	and	CCONJ
ftr-309	1166	27	tax	tax	NOUN
ftr-309	1166	28	lawyers	lawyer	NOUN
ftr-309	1166	29	help	help	VERB
ftr-309	1166	30	clients	client	NOUN
ftr-309	1166	31	plan	plan	VERB
ftr-309	1166	32	around	around	ADP
ftr-309	1166	33	the	the	DET
ftr-309	1166	34	problem	problem	NOUN
ftr-309	1166	35	.	.	PUNCT
ftr-309	1167	1	for	for	ADP
ftr-309	1167	2	example	example	NOUN
ftr-309	1167	3	,	,	PUNCT
ftr-309	1167	4	a	a	DET
ftr-309	1167	5	given	give	VERB
ftr-309	1167	6	transaction	transaction	NOUN
ftr-309	1167	7	might	might	AUX
ftr-309	1167	8	be	be	AUX
ftr-309	1167	9	grossly	grossly	ADV
ftr-309	1167	10	overtaxed	overtax	VERB
ftr-309	1167	11	relative	relative	ADJ
ftr-309	1167	12	to	to	ADP
ftr-309	1167	13	others	other	NOUN
ftr-309	1167	14	,	,	PUNCT
ftr-309	1167	15	creating	create	VERB
ftr-309	1167	16	economic	economic	ADJ
ftr-309	1167	17	distortions	distortion	NOUN
ftr-309	1167	18	.	.	PUNCT
ftr-309	1168	1	for	for	ADP
ftr-309	1168	2	various	various	ADJ
ftr-309	1168	3	reasons	reason	NOUN
ftr-309	1168	4	,	,	PUNCT
ftr-309	1168	5	including	include	VERB
ftr-309	1168	6	the	the	DET
ftr-309	1168	7	difficulty	difficulty	NOUN
ftr-309	1168	8	of	of	ADP
ftr-309	1168	9	drafting	draft	VERB
ftr-309	1168	10	the	the	DET
ftr-309	1168	11	law	law	NOUN
ftr-309	1168	12	precisely	precisely	ADV
ftr-309	1168	13	,	,	PUNCT
ftr-309	1168	14	planning	planning	NOUN
ftr-309	1168	15	may	may	AUX
ftr-309	1168	16	reduce	reduce	VERB
ftr-309	1168	17	the	the	DET
ftr-309	1168	18	tax	tax	NOUN
ftr-309	1168	19	to	to	ADP
ftr-309	1168	20	the	the	DET
ftr-309	1168	21	appropriate	appropriate	ADJ
ftr-309	1168	22	amount	amount	NOUN
ftr-309	1168	23	more	more	ADV
ftr-309	1168	24	cheaply	cheaply	ADV
ftr-309	1168	25	than	than	ADP
ftr-309	1168	26	actually	actually	ADV
ftr-309	1168	27	amending	amend	VERB
ftr-309	1168	28	the	the	DET
ftr-309	1168	29	law	law	NOUN
ftr-309	1168	30	.	.	PUNCT
ftr-309	1169	1	but	but	CCONJ
ftr-309	1169	2	this	this	PRON
ftr-309	1169	3	is	be	AUX
ftr-309	1169	4	a	a	DET
ftr-309	1169	5	dangerous	dangerous	ADJ
ftr-309	1169	6	path	path	NOUN
ftr-309	1169	7	because	because	SCONJ
ftr-309	1169	8	it	it	PRON
ftr-309	1169	9	depends	depend	VERB
ftr-309	1169	10	on	on	ADP
ftr-309	1169	11	judgments	judgment	NOUN
ftr-309	1169	12	about	about	ADP
ftr-309	1169	13	the	the	DET
ftr-309	1169	14	merits	merit	NOUN
ftr-309	1169	15	of	of	ADP
ftr-309	1169	16	the	the	DET
ftr-309	1169	17	underlying	underlie	VERB
ftr-309	1169	18	law	law	NOUN
ftr-309	1169	19	.	.	PUNCT
ftr-309	1170	1	it	it	PRON
ftr-309	1170	2	is	be	AUX
ftr-309	1170	3	generally	generally	ADV
ftr-309	1170	4	not	not	PART
ftr-309	1170	5	a	a	DET
ftr-309	1170	6	defense	defense	NOUN
ftr-309	1170	7	to	to	ADP
ftr-309	1170	8	a	a	DET
ftr-309	1170	9	violation	violation	NOUN
ftr-309	1170	10	of	of	ADP
ftr-309	1170	11	the	the	DET
ftr-309	1170	12	law	law	NOUN
ftr-309	1170	13	that	that	PRON
ftr-309	1170	14	the	the	DET
ftr-309	1170	15	law	law	NOUN
ftr-309	1170	16	is	be	AUX
ftr-309	1170	17	stupid	stupid	ADJ
ftr-309	1170	18	(	(	PUNCT
ftr-309	1170	19	try	try	VERB
ftr-309	1170	20	this	this	DET
ftr-309	1170	21	next	next	ADJ
ftr-309	1170	22	time	time	NOUN
ftr-309	1170	23	you	you	PRON
ftr-309	1170	24	get	get	AUX
ftr-309	1170	25	pulled	pull	VERB
ftr-309	1170	26	over	over	ADP
ftr-309	1170	27	for	for	ADP
ftr-309	1170	28	speeding	speeding	NOUN
ftr-309	1170	29	)	)	PUNCT
ftr-309	1170	30	.	.	PUNCT
ftr-309	1171	1	it	it	PRON
ftr-309	1171	2	is	be	AUX
ftr-309	1171	3	,	,	PUNCT
ftr-309	1171	4	therefore	therefore	ADV
ftr-309	1171	5	,	,	PUNCT
ftr-309	1171	6	not	not	PART
ftr-309	1171	7	clear	clear	ADJ
ftr-309	1171	8	that	that	SCONJ
ftr-309	1171	9	we	we	PRON
ftr-309	1171	10	should	should	AUX
ftr-309	1171	11	think	think	VERB
ftr-309	1171	12	that	that	SCONJ
ftr-309	1171	13	planning	plan	VERB
ftr-309	1171	14	around	around	ADP
ftr-309	1171	15	warts	wart	NOUN
ftr-309	1171	16	in	in	ADP
ftr-309	1171	17	the	the	DET
ftr-309	1171	18	law	law	NOUN
ftr-309	1171	19	is	be	AUX
ftr-309	1171	20	socially	socially	ADV
ftr-309	1171	21	valuable	valuable	ADJ
ftr-309	1171	22	.	.	PUNCT
ftr-309	1172	1	203	203	NUM
ftr-309	1172	2	florida	florida	PROPN
ftr-309	1172	3	tax	tax	NOUN
ftr-309	1172	4	review	review	NOUN
ftr-309	1172	5	taxpayers	taxpayer	NOUN
ftr-309	1172	6	to	to	PART
ftr-309	1172	7	take	take	VERB
ftr-309	1172	8	advantage	advantage	NOUN
ftr-309	1172	9	of	of	ADP
ftr-309	1172	10	the	the	DET
ftr-309	1172	11	partnership	partnership	NOUN
ftr-309	1172	12	tax	tax	NOUN
ftr-309	1172	13	allocation	allocation	NOUN
ftr-309	1172	14	rules	rule	NOUN
ftr-309	1172	15	in	in	ADP
ftr-309	1172	16	other	other	ADJ
ftr-309	1172	17	situations	situation	NOUN
ftr-309	1172	18	involving	involve	VERB
ftr-309	1172	19	related	related	ADJ
ftr-309	1172	20	partners	partner	NOUN
ftr-309	1172	21	with	with	ADP
ftr-309	1172	22	consequences	consequence	NOUN
ftr-309	1172	23	that	that	PRON
ftr-309	1172	24	could	could	AUX
ftr-309	1172	25	be	be	AUX
ftr-309	1172	26	even	even	ADV
ftr-309	1172	27	more	more	ADV
ftr-309	1172	28	objectionable	objectionable	ADJ
ftr-309	1172	29	than	than	ADP
ftr-309	1172	30	the	the	DET
ftr-309	1172	31	results	result	NOUN
ftr-309	1172	32	of	of	ADP
ftr-309	1172	33	the	the	DET
ftr-309	1172	34	blackstone	blackstone	NOUN
ftr-309	1172	35	group	group	NOUN
ftr-309	1172	36	structure	structure	NOUN
ftr-309	1172	37	.	.	PUNCT
ftr-309	1173	1	d.	d.	PROPN
ftr-309	1173	2	the	the	DET
ftr-309	1173	3	damage	damage	NOUN
ftr-309	1173	4	is	be	AUX
ftr-309	1173	5	contained	contain	VERB
ftr-309	1173	6	one	one	NUM
ftr-309	1173	7	might	might	AUX
ftr-309	1173	8	argue	argue	VERB
ftr-309	1173	9	that	that	SCONJ
ftr-309	1173	10	challenging	challenge	VERB
ftr-309	1173	11	blackstone	blackstone	NOUN
ftr-309	1173	12	group	group	NOUN
ftr-309	1173	13	is	be	AUX
ftr-309	1173	14	unnecessary	unnecessary	ADJ
ftr-309	1173	15	because	because	SCONJ
ftr-309	1173	16	the	the	DET
ftr-309	1173	17	universe	universe	NOUN
ftr-309	1173	18	of	of	ADP
ftr-309	1173	19	publicly	publicly	ADV
ftr-309	1173	20	traded	trade	VERB
ftr-309	1173	21	entities	entity	NOUN
ftr-309	1173	22	that	that	PRON
ftr-309	1173	23	can	can	AUX
ftr-309	1173	24	effectively	effectively	ADV
ftr-309	1173	25	engage	engage	VERB
ftr-309	1173	26	in	in	ADP
ftr-309	1173	27	the	the	DET
ftr-309	1173	28	type	type	NOUN
ftr-309	1173	29	of	of	ADP
ftr-309	1173	30	structuring	structuring	NOUN
ftr-309	1173	31	used	use	VERB
ftr-309	1173	32	by	by	ADP
ftr-309	1173	33	blackstone	blackstone	NOUN
ftr-309	1173	34	group	group	NOUN
ftr-309	1173	35	is	be	AUX
ftr-309	1173	36	limited	limit	VERB
ftr-309	1173	37	for	for	ADP
ftr-309	1173	38	two	two	NUM
ftr-309	1173	39	reasons	reason	NOUN
ftr-309	1173	40	.	.	PUNCT
ftr-309	1174	1	first	first	ADV
ftr-309	1174	2	,	,	PUNCT
ftr-309	1174	3	the	the	DET
ftr-309	1174	4	structure	structure	NOUN
ftr-309	1174	5	reduces	reduce	VERB
ftr-309	1174	6	blackstone	blackstone	NOUN
ftr-309	1174	7	group	group	NOUN
ftr-309	1174	8	lp	lp	PROPN
ftr-309	1174	9	's	's	PART
ftr-309	1174	10	tax	tax	NOUN
ftr-309	1174	11	liability	liability	NOUN
ftr-309	1174	12	primarily	primarily	ADV
ftr-309	1174	13	by	by	ADP
ftr-309	1174	14	allowing	allow	VERB
ftr-309	1174	15	qualifying	qualify	VERB
ftr-309	1174	16	income	income	NOUN
ftr-309	1174	17	to	to	PART
ftr-309	1174	18	escape	escape	VERB
ftr-309	1174	19	corporate	corporate	ADJ
ftr-309	1174	20	-	-	PUNCT
ftr-309	1174	21	level	level	NOUN
ftr-309	1174	22	tax	tax	NOUN
ftr-309	1174	23	.	.	PUNCT
ftr-309	1174	24	'16	'16	NUM
ftr-309	1174	25	thus	thus	ADV
ftr-309	1174	26	,	,	PUNCT
ftr-309	1174	27	a	a	DET
ftr-309	1174	28	business	business	NOUN
ftr-309	1174	29	that	that	PRON
ftr-309	1174	30	earns	earn	VERB
ftr-309	1174	31	insignificant	insignificant	ADJ
ftr-309	1174	32	amounts	amount	NOUN
ftr-309	1174	33	of	of	ADP
ftr-309	1174	34	qualifying	qualify	VERB
ftr-309	1174	35	income	income	NOUN
ftr-309	1174	36	can	can	AUX
ftr-309	1174	37	not	not	PART
ftr-309	1174	38	save	save	VERB
ftr-309	1174	39	substantial	substantial	ADJ
ftr-309	1174	40	tax	tax	NOUN
ftr-309	1174	41	liability	liability	NOUN
ftr-309	1174	42	by	by	ADP
ftr-309	1174	43	using	use	VERB
ftr-309	1174	44	the	the	DET
ftr-309	1174	45	structure	structure	NOUN
ftr-309	1174	46	.	.	PUNCT
ftr-309	1175	1	for	for	ADP
ftr-309	1175	2	example	example	NOUN
ftr-309	1175	3	,	,	PUNCT
ftr-309	1175	4	a	a	DET
ftr-309	1175	5	business	business	NOUN
ftr-309	1175	6	that	that	PRON
ftr-309	1175	7	earns	earn	VERB
ftr-309	1175	8	income	income	NOUN
ftr-309	1175	9	primarily	primarily	ADV
ftr-309	1175	10	from	from	ADP
ftr-309	1175	11	operating	operate	VERB
ftr-309	1175	12	an	an	DET
ftr-309	1175	13	active	active	ADJ
ftr-309	1175	14	business	business	NOUN
ftr-309	1175	15	in	in	ADP
ftr-309	1175	16	the	the	DET
ftr-309	1175	17	united	united	PROPN
ftr-309	1175	18	states	states	PROPN
ftr-309	1175	19	could	could	AUX
ftr-309	1175	20	not	not	PART
ftr-309	1175	21	make	make	VERB
ftr-309	1175	22	effective	effective	ADJ
ftr-309	1175	23	use	use	NOUN
ftr-309	1175	24	of	of	ADP
ftr-309	1175	25	the	the	DET
ftr-309	1175	26	structure	structure	NOUN
ftr-309	1175	27	used	use	VERB
ftr-309	1175	28	by	by	ADP
ftr-309	1175	29	blackstone	blackstone	PROPN
ftr-309	1175	30	group	group	PROPN
ftr-309	1175	31	lp	lp	PROPN
ftr-309	1175	32	.	.	PUNCT
ftr-309	1176	1	second	second	ADJ
ftr-309	1176	2	,	,	PUNCT
ftr-309	1176	3	if	if	SCONJ
ftr-309	1176	4	a	a	DET
ftr-309	1176	5	business	business	NOUN
ftr-309	1176	6	is	be	AUX
ftr-309	1176	7	already	already	ADV
ftr-309	1176	8	organized	organize	VERB
ftr-309	1176	9	under	under	ADP
ftr-309	1176	10	state	state	NOUN
ftr-309	1176	11	law	law	NOUN
ftr-309	1176	12	as	as	ADP
ftr-309	1176	13	an	an	DET
ftr-309	1176	14	incorporated	incorporated	ADJ
ftr-309	1176	15	entity	entity	NOUN
ftr-309	1176	16	,	,	PUNCT
ftr-309	1176	17	the	the	DET
ftr-309	1176	18	business	business	NOUN
ftr-309	1176	19	would	would	AUX
ftr-309	1176	20	automatically	automatically	ADV
ftr-309	1176	21	be	be	AUX
ftr-309	1176	22	treated	treat	VERB
ftr-309	1176	23	as	as	ADP
ftr-309	1176	24	a	a	DET
ftr-309	1176	25	corporation	corporation	NOUN
ftr-309	1176	26	for	for	ADP
ftr-309	1176	27	tax	tax	NOUN
ftr-309	1176	28	purposes	purpose	NOUN
ftr-309	1176	29	regardless	regardless	ADV
ftr-309	1176	30	of	of	ADP
ftr-309	1176	31	the	the	DET
ftr-309	1176	32	type	type	NOUN
ftr-309	1176	33	of	of	ADP
ftr-309	1176	34	income	income	NOUN
ftr-309	1176	35	that	that	PRON
ftr-309	1176	36	it	it	PRON
ftr-309	1176	37	earns.177	earns.177	VERB
ftr-309	1176	38	such	such	DET
ftr-309	1176	39	a	a	DET
ftr-309	1176	40	business	business	NOUN
ftr-309	1176	41	would	would	AUX
ftr-309	1176	42	have	have	VERB
ftr-309	1176	43	to	to	PART
ftr-309	1176	44	undertake	undertake	VERB
ftr-309	1176	45	a	a	DET
ftr-309	1176	46	restructuring	restructuring	NOUN
ftr-309	1176	47	to	to	PART
ftr-309	1176	48	use	use	VERB
ftr-309	1176	49	the	the	DET
ftr-309	1176	50	blackstone	blackstone	NOUN
ftr-309	1176	51	group	group	NOUN
ftr-309	1176	52	structure	structure	NOUN
ftr-309	1176	53	,	,	PUNCT
ftr-309	1176	54	and	and	CCONJ
ftr-309	1176	55	the	the	DET
ftr-309	1176	56	restructuring	restructuring	NOUN
ftr-309	1176	57	itself	itself	PRON
ftr-309	1176	58	could	could	AUX
ftr-309	1176	59	trigger	trigger	VERB
ftr-309	1176	60	adverse	adverse	ADJ
ftr-309	1176	61	tax	tax	NOUN
ftr-309	1176	62	consequences	consequence	NOUN
ftr-309	1176	63	.	.	PUNCT
ftr-309	1177	1	78	78	NUM
ftr-309	1177	2	although	although	SCONJ
ftr-309	1177	3	not	not	PART
ftr-309	1177	4	all	all	DET
ftr-309	1177	5	businesses	business	NOUN
ftr-309	1177	6	can	can	AUX
ftr-309	1177	7	effectively	effectively	ADV
ftr-309	1177	8	utilize	utilize	VERB
ftr-309	1177	9	the	the	DET
ftr-309	1177	10	blackstone	blackstone	NOUN
ftr-309	1177	11	group	group	NOUN
ftr-309	1177	12	structure	structure	NOUN
ftr-309	1177	13	,	,	PUNCT
ftr-309	1177	14	many	many	ADJ
ftr-309	1177	15	other	other	ADJ
ftr-309	1177	16	businesses	business	NOUN
ftr-309	1177	17	could	could	AUX
ftr-309	1177	18	potentially	potentially	ADV
ftr-309	1177	19	use	use	VERB
ftr-309	1177	20	the	the	DET
ftr-309	1177	21	structure	structure	NOUN
ftr-309	1177	22	,	,	PUNCT
ftr-309	1177	23	particularly	particularly	ADV
ftr-309	1177	24	new	new	ADJ
ftr-309	1177	25	businesses	business	NOUN
ftr-309	1177	26	that	that	PRON
ftr-309	1177	27	are	be	AUX
ftr-309	1177	28	not	not	PART
ftr-309	1177	29	dissuaded	dissuade	VERB
ftr-309	1177	30	by	by	ADP
ftr-309	1177	31	the	the	DET
ftr-309	1177	32	costs	cost	NOUN
ftr-309	1177	33	of	of	ADP
ftr-309	1177	34	restructuring	restructuring	NOUN
ftr-309	1177	35	.	.	PUNCT
ftr-309	1178	1	179	179	NUM
ftr-309	1178	2	as	as	ADP
ftr-309	1178	3	a	a	DET
ftr-309	1178	4	result	result	NOUN
ftr-309	1178	5	,	,	PUNCT
ftr-309	1178	6	challenging	challenge	VERB
ftr-309	1178	7	the	the	DET
ftr-309	1178	8	structure	structure	NOUN
ftr-309	1178	9	could	could	AUX
ftr-309	1178	10	still	still	ADV
ftr-309	1178	11	raise	raise	VERB
ftr-309	1178	12	176	176	NUM
ftr-309	1178	13	.	.	PUNCT
ftr-309	1179	1	the	the	DET
ftr-309	1179	2	structure	structure	NOUN
ftr-309	1179	3	also	also	ADV
ftr-309	1179	4	reduces	reduce	VERB
ftr-309	1179	5	tax	tax	NOUN
ftr-309	1179	6	imposed	impose	VERB
ftr-309	1179	7	on	on	ADP
ftr-309	1179	8	non	non	ADJ
ftr-309	1179	9	-	-	ADJ
ftr-309	1179	10	qualifying	qualifying	ADJ
ftr-309	1179	11	income	income	NOUN
ftr-309	1179	12	because	because	SCONJ
ftr-309	1179	13	of	of	ADP
ftr-309	1179	14	the	the	DET
ftr-309	1179	15	potential	potential	ADJ
ftr-309	1179	16	use	use	NOUN
ftr-309	1179	17	of	of	ADP
ftr-309	1179	18	interest	interest	NOUN
ftr-309	1179	19	expense	expense	NOUN
ftr-309	1179	20	to	to	PART
ftr-309	1179	21	reduce	reduce	VERB
ftr-309	1179	22	u.s	u.s	PROPN
ftr-309	1179	23	.	.	PROPN
ftr-309	1179	24	subsidiary	subsidiary	NOUN
ftr-309	1179	25	's	's	PART
ftr-309	1179	26	tax	tax	NOUN
ftr-309	1179	27	liability	liability	NOUN
ftr-309	1179	28	and	and	CCONJ
ftr-309	1179	29	because	because	SCONJ
ftr-309	1179	30	non	non	ADJ
ftr-309	1179	31	-	-	ADJ
ftr-309	1179	32	u.s	u.s	PROPN
ftr-309	1179	33	.	.	PROPN
ftr-309	1179	34	subsidiary	subsidiary	NOUN
ftr-309	1179	35	is	be	AUX
ftr-309	1179	36	not	not	PART
ftr-309	1179	37	subject	subject	ADJ
ftr-309	1179	38	to	to	ADP
ftr-309	1179	39	tax	tax	NOUN
ftr-309	1179	40	.	.	PUNCT
ftr-309	1180	1	see	see	VERB
ftr-309	1180	2	supra	supra	PROPN
ftr-309	1180	3	parts	part	NOUN
ftr-309	1180	4	ii.c	ii.c	VERB
ftr-309	1180	5	.	.	PUNCT
ftr-309	1181	1	,	,	PUNCT
ftr-309	1181	2	ii.d	ii.d	PRON
ftr-309	1181	3	.	.	PUNCT
ftr-309	1182	1	177	177	NUM
ftr-309	1182	2	.	.	PUNCT
ftr-309	1182	3	regs	regs	PROPN
ftr-309	1182	4	.	.	PUNCT
ftr-309	1183	1	§	§	PROPN
ftr-309	1183	2	301.7701	301.7701	NUM
ftr-309	1183	3	-	-	SYM
ftr-309	1183	4	2(b)(1	2(b)(1	NUM
ftr-309	1183	5	)	)	PUNCT
ftr-309	1183	6	.	.	PUNCT
ftr-309	1184	1	178	178	NUM
ftr-309	1184	2	.	.	PUNCT
ftr-309	1185	1	for	for	ADP
ftr-309	1185	2	example	example	NOUN
ftr-309	1185	3	,	,	PUNCT
ftr-309	1185	4	the	the	DET
ftr-309	1185	5	shareholders	shareholder	NOUN
ftr-309	1185	6	of	of	ADP
ftr-309	1185	7	the	the	DET
ftr-309	1185	8	corporation	corporation	NOUN
ftr-309	1185	9	could	could	AUX
ftr-309	1185	10	contribute	contribute	VERB
ftr-309	1185	11	corporate	corporate	ADJ
ftr-309	1185	12	stock	stock	NOUN
ftr-309	1185	13	to	to	ADP
ftr-309	1185	14	a	a	DET
ftr-309	1185	15	partnership	partnership	NOUN
ftr-309	1185	16	,	,	PUNCT
ftr-309	1185	17	and	and	CCONJ
ftr-309	1185	18	the	the	DET
ftr-309	1185	19	corporation	corporation	NOUN
ftr-309	1185	20	could	could	AUX
ftr-309	1185	21	,	,	PUNCT
ftr-309	1185	22	in	in	ADP
ftr-309	1185	23	turn	turn	NOUN
ftr-309	1185	24	,	,	PUNCT
ftr-309	1185	25	distribute	distribute	VERB
ftr-309	1185	26	some	some	PRON
ftr-309	1185	27	of	of	ADP
ftr-309	1185	28	its	its	PRON
ftr-309	1185	29	assets	asset	NOUN
ftr-309	1185	30	(	(	PUNCT
ftr-309	1185	31	assets	asset	NOUN
ftr-309	1185	32	that	that	PRON
ftr-309	1185	33	produce	produce	VERB
ftr-309	1185	34	qualifying	qualify	VERB
ftr-309	1185	35	income	income	NOUN
ftr-309	1185	36	)	)	PUNCT
ftr-309	1185	37	to	to	ADP
ftr-309	1185	38	the	the	DET
ftr-309	1185	39	partnership	partnership	NOUN
ftr-309	1185	40	.	.	PUNCT
ftr-309	1186	1	if	if	SCONJ
ftr-309	1186	2	the	the	DET
ftr-309	1186	3	fair	fair	ADJ
ftr-309	1186	4	market	market	NOUN
ftr-309	1186	5	value	value	NOUN
ftr-309	1186	6	of	of	ADP
ftr-309	1186	7	these	these	DET
ftr-309	1186	8	assets	asset	NOUN
ftr-309	1186	9	exceeded	exceed	VERB
ftr-309	1186	10	the	the	DET
ftr-309	1186	11	corporation	corporation	NOUN
ftr-309	1186	12	's	's	PART
ftr-309	1186	13	tax	tax	NOUN
ftr-309	1186	14	basis	basis	NOUN
ftr-309	1186	15	in	in	ADP
ftr-309	1186	16	the	the	DET
ftr-309	1186	17	assets	asset	NOUN
ftr-309	1186	18	,	,	PUNCT
ftr-309	1186	19	the	the	DET
ftr-309	1186	20	corporation	corporation	NOUN
ftr-309	1186	21	would	would	AUX
ftr-309	1186	22	recognize	recognize	VERB
ftr-309	1186	23	tax	tax	NOUN
ftr-309	1186	24	gain	gain	NOUN
ftr-309	1186	25	as	as	ADP
ftr-309	1186	26	a	a	DET
ftr-309	1186	27	result	result	NOUN
ftr-309	1186	28	of	of	ADP
ftr-309	1186	29	the	the	DET
ftr-309	1186	30	distribution	distribution	NOUN
ftr-309	1186	31	.	.	PUNCT
ftr-309	1187	1	i.r.c	i.r.c	NOUN
ftr-309	1187	2	.	.	PUNCT
ftr-309	1188	1	§	§	PROPN
ftr-309	1188	2	311	311	NUM
ftr-309	1188	3	(	(	PUNCT
ftr-309	1188	4	b)(1	b)(1	NOUN
ftr-309	1188	5	)	)	PUNCT
ftr-309	1188	6	.	.	PUNCT
ftr-309	1189	1	179	179	NUM
ftr-309	1189	2	.	.	PUNCT
ftr-309	1190	1	see	see	VERB
ftr-309	1190	2	fleischer	fleischer	NOUN
ftr-309	1190	3	,	,	PUNCT
ftr-309	1190	4	taxing	tax	VERB
ftr-309	1190	5	blackstone	blackstone	NOUN
ftr-309	1190	6	,	,	PUNCT
ftr-309	1190	7	supra	supra	PROPN
ftr-309	1190	8	note	note	PROPN
ftr-309	1190	9	1	1	NUM
ftr-309	1190	10	,	,	PUNCT
ftr-309	1190	11	at	at	ADP
ftr-309	1190	12	115	115	NUM
ftr-309	1190	13	(	(	PUNCT
ftr-309	1190	14	"	"	PUNCT
ftr-309	1190	15	it	it	PRON
ftr-309	1190	16	's	be	AUX
ftr-309	1190	17	unclear	unclear	ADJ
ftr-309	1190	18	whether	whether	SCONJ
ftr-309	1190	19	the	the	DET
ftr-309	1190	20	blackstone	blackstone	NOUN
ftr-309	1190	21	structure	structure	NOUN
ftr-309	1190	22	.	.	PUNCT
ftr-309	1190	23	.	.	PUNCT
ftr-309	1191	1	.	.	PUNCT
ftr-309	1192	1	might	might	AUX
ftr-309	1192	2	create	create	VERB
ftr-309	1192	3	a	a	DET
ftr-309	1192	4	domino	domino	NOUN
ftr-309	1192	5	effect	effect	NOUN
ftr-309	1192	6	beyond	beyond	ADP
ftr-309	1192	7	investment	investment	NOUN
ftr-309	1192	8	fund	fund	NOUN
ftr-309	1192	9	managers	manager	NOUN
ftr-309	1192	10	.	.	PUNCT
ftr-309	1193	1	blackstone	blackstone	NOUN
ftr-309	1193	2	's	's	PART
ftr-309	1193	3	business	business	NOUN
ftr-309	1193	4	closely	closely	ADV
ftr-309	1193	5	resembles	resemble	VERB
ftr-309	1193	6	the	the	DET
ftr-309	1193	7	merchant	merchant	NOUN
ftr-309	1193	8	banking	banking	NOUN
ftr-309	1193	9	and	and	CCONJ
ftr-309	1193	10	,	,	PUNCT
ftr-309	1193	11	to	to	ADP
ftr-309	1193	12	some	some	DET
ftr-309	1193	13	extent	extent	NOUN
ftr-309	1193	14	,	,	PUNCT
ftr-309	1193	15	the	the	DET
ftr-309	1193	16	investment	investment	NOUN
ftr-309	1193	17	banking	banking	NOUN
ftr-309	1193	18	activities	activity	NOUN
ftr-309	1193	19	of	of	ADP
ftr-309	1193	20	goldman	goldman	NOUN
ftr-309	1193	21	sachs	sachs	PROPN
ftr-309	1193	22	,	,	PUNCT
ftr-309	1193	23	morgan	morgan	PROPN
ftr-309	1193	24	stanley	stanley	PROPN
ftr-309	1193	25	,	,	PUNCT
ftr-309	1193	26	merrill	merrill	PROPN
ftr-309	1193	27	lynch	lynch	PROPN
ftr-309	1193	28	,	,	PUNCT
ftr-309	1193	29	and	and	CCONJ
ftr-309	1193	30	other	other	ADJ
ftr-309	1193	31	wall	wall	PROPN
ftr-309	1193	32	street	street	PROPN
ftr-309	1193	33	firms	firm	NOUN
ftr-309	1193	34	.	.	PUNCT
ftr-309	1194	1	if	if	SCONJ
ftr-309	1194	2	congress	congress	PROPN
ftr-309	1194	3	fails	fail	VERB
ftr-309	1194	4	to	to	PART
ftr-309	1194	5	act	act	VERB
ftr-309	1194	6	,	,	PUNCT
ftr-309	1194	7	it	it	PRON
ftr-309	1194	8	puts	put	VERB
ftr-309	1194	9	these	these	DET
ftr-309	1194	10	banks	bank	NOUN
ftr-309	1194	11	at	at	ADP
ftr-309	1194	12	a	a	DET
ftr-309	1194	13	competitive	competitive	ADJ
ftr-309	1194	14	disadvantage	disadvantage	NOUN
ftr-309	1194	15	,	,	PUNCT
ftr-309	1194	16	which	which	PRON
ftr-309	1194	17	may	may	AUX
ftr-309	1194	18	encourage	encourage	VERB
ftr-309	1194	19	them	they	PRON
ftr-309	1194	20	to	to	PART
ftr-309	1194	21	spin	spin	VERB
ftr-309	1194	22	-	-	PUNCT
ftr-309	1194	23	off	off	ADP
ftr-309	1194	24	their	their	PRON
ftr-309	1194	25	merchant	merchant	NOUN
ftr-309	1194	26	banking	banking	NOUN
ftr-309	1194	27	and	and	CCONJ
ftr-309	1194	28	other	other	ADJ
ftr-309	1194	29	asset	asset	NOUN
ftr-309	1194	30	management	management	NOUN
ftr-309	1194	31	activities	activity	NOUN
ftr-309	1194	32	into	into	ADP
ftr-309	1194	33	separate	separate	ADJ
ftr-309	1194	34	entities	entity	NOUN
ftr-309	1194	35	.	.	PUNCT
ftr-309	1195	1	"	"	PUNCT
ftr-309	1195	2	)	)	PUNCT
ftr-309	1195	3	.	.	PUNCT
ftr-309	1196	1	204	204	NUM
ftr-309	1197	1	[	[	X
ftr-309	1197	2	vol	vol	NOUN
ftr-309	1197	3	.	.	PUNCT
ftr-309	1197	4	14:5	14:5	NUM
ftr-309	1197	5	2013	2013	NUM
ftr-309	1197	6	]	]	PUNCT
ftr-309	1197	7	was	be	AUX
ftr-309	1197	8	blackstone	blackstone	NOUN
ftr-309	1197	9	's	's	PART
ftr-309	1197	10	initial	initial	ADJ
ftr-309	1197	11	public	public	ADJ
ftr-309	1197	12	offering	offering	NOUN
ftr-309	1197	13	too	too	ADV
ftr-309	1197	14	good	good	ADJ
ftr-309	1197	15	to	to	PART
ftr-309	1197	16	be	be	AUX
ftr-309	1197	17	true	true	ADJ
ftr-309	1197	18	?	?	PUNCT
ftr-309	1198	1	significant	significant	ADJ
ftr-309	1198	2	tax	tax	NOUN
ftr-309	1198	3	revenue	revenue	NOUN
ftr-309	1198	4	from	from	ADP
ftr-309	1198	5	businesses	business	NOUN
ftr-309	1198	6	that	that	PRON
ftr-309	1198	7	do	do	VERB
ftr-309	1198	8	or	or	CCONJ
ftr-309	1198	9	could	could	AUX
ftr-309	1198	10	use	use	VERB
ftr-309	1198	11	the	the	DET
ftr-309	1198	12	structure.180	structure.180	NOUN
ftr-309	1198	13	furthermore	furthermore	ADV
ftr-309	1198	14	,	,	PUNCT
ftr-309	1198	15	challenging	challenge	VERB
ftr-309	1198	16	this	this	DET
ftr-309	1198	17	transaction	transaction	NOUN
ftr-309	1198	18	could	could	AUX
ftr-309	1198	19	prevent	prevent	VERB
ftr-309	1198	20	other	other	ADJ
ftr-309	1198	21	taxpayers	taxpayer	NOUN
ftr-309	1198	22	from	from	ADP
ftr-309	1198	23	establishing	establish	VERB
ftr-309	1198	24	partnerships	partnership	NOUN
ftr-309	1198	25	in	in	ADP
ftr-309	1198	26	order	order	NOUN
ftr-309	1198	27	to	to	PART
ftr-309	1198	28	take	take	VERB
ftr-309	1198	29	advantage	advantage	NOUN
ftr-309	1198	30	of	of	ADP
ftr-309	1198	31	the	the	DET
ftr-309	1198	32	partnership	partnership	NOUN
ftr-309	1198	33	tax	tax	NOUN
ftr-309	1198	34	allocation	allocation	NOUN
ftr-309	1198	35	rules	rule	NOUN
ftr-309	1198	36	'	'	PART
ftr-309	1198	37	failure	failure	NOUN
ftr-309	1198	38	to	to	PART
ftr-309	1198	39	adequately	adequately	ADV
ftr-309	1198	40	constrain	constrain	VERB
ftr-309	1198	41	allocations	allocation	NOUN
ftr-309	1198	42	among	among	ADP
ftr-309	1198	43	related	related	ADJ
ftr-309	1198	44	partners	partner	NOUN
ftr-309	1198	45	.	.	PUNCT
ftr-309	1199	1	thus	thus	ADV
ftr-309	1199	2	,	,	PUNCT
ftr-309	1199	3	because	because	SCONJ
ftr-309	1199	4	the	the	DET
ftr-309	1199	5	damage	damage	NOUN
ftr-309	1199	6	is	be	AUX
ftr-309	1199	7	not	not	PART
ftr-309	1199	8	as	as	ADV
ftr-309	1199	9	contained	contain	VERB
ftr-309	1199	10	as	as	SCONJ
ftr-309	1199	11	it	it	PRON
ftr-309	1199	12	may	may	AUX
ftr-309	1199	13	first	first	ADV
ftr-309	1199	14	appear	appear	VERB
ftr-309	1199	15	to	to	PART
ftr-309	1199	16	be	be	AUX
ftr-309	1199	17	,	,	PUNCT
ftr-309	1199	18	the	the	DET
ftr-309	1199	19	irs	irs	PROPN
ftr-309	1199	20	should	should	AUX
ftr-309	1199	21	take	take	VERB
ftr-309	1199	22	action	action	NOUN
ftr-309	1199	23	,	,	PUNCT
ftr-309	1199	24	particularly	particularly	ADV
ftr-309	1199	25	at	at	ADP
ftr-309	1199	26	a	a	DET
ftr-309	1199	27	time	time	NOUN
ftr-309	1199	28	when	when	SCONJ
ftr-309	1199	29	the	the	DET
ftr-309	1199	30	u.s	u.s	PROPN
ftr-309	1199	31	.	.	PROPN
ftr-309	1199	32	treasury	treasury	PROPN
ftr-309	1199	33	desperately	desperately	ADV
ftr-309	1199	34	needs	need	VERB
ftr-309	1199	35	increased	increase	VERB
ftr-309	1199	36	tax	tax	NOUN
ftr-309	1199	37	revenue	revenue	NOUN
ftr-309	1199	38	.	.	PUNCT
ftr-309	1200	1	e.	e.	PROPN
ftr-309	1200	2	blackstone	blackstone	PROPN
ftr-309	1200	3	group	group	PROPN
ftr-309	1200	4	did	do	AUX
ftr-309	1200	5	not	not	PART
ftr-309	1200	6	engage	engage	VERB
ftr-309	1200	7	in	in	ADP
ftr-309	1200	8	egregious	egregious	ADJ
ftr-309	1200	9	tax	tax	NOUN
ftr-309	1200	10	abuse	abuse	NOUN
ftr-309	1200	11	one	one	PRON
ftr-309	1200	12	might	might	AUX
ftr-309	1200	13	argue	argue	VERB
ftr-309	1200	14	that	that	SCONJ
ftr-309	1200	15	the	the	DET
ftr-309	1200	16	structure	structure	NOUN
ftr-309	1200	17	used	use	VERB
ftr-309	1200	18	by	by	ADP
ftr-309	1200	19	blackstone	blackstone	NOUN
ftr-309	1200	20	group	group	PROPN
ftr-309	1200	21	lp	lp	PROPN
ftr-309	1200	22	was	be	AUX
ftr-309	1200	23	not	not	PART
ftr-309	1200	24	overly	overly	ADV
ftr-309	1200	25	abusive	abusive	ADJ
ftr-309	1200	26	.	.	PUNCT
ftr-309	1201	1	in	in	ADP
ftr-309	1201	2	particular	particular	ADJ
ftr-309	1201	3	,	,	PUNCT
ftr-309	1201	4	the	the	DET
ftr-309	1201	5	underlying	underlie	VERB
ftr-309	1201	6	transaction	transaction	NOUN
ftr-309	1201	7	(	(	PUNCT
ftr-309	1201	8	i.e.	i.e.	X
ftr-309	1201	9	,	,	PUNCT
ftr-309	1201	10	the	the	DET
ftr-309	1201	11	initial	initial	ADJ
ftr-309	1201	12	public	public	ADJ
ftr-309	1201	13	offering	offering	NOUN
ftr-309	1201	14	)	)	PUNCT
ftr-309	1201	15	was	be	AUX
ftr-309	1201	16	a	a	DET
ftr-309	1201	17	legitimate	legitimate	ADJ
ftr-309	1201	18	business	business	NOUN
ftr-309	1201	19	transaction	transaction	NOUN
ftr-309	1201	20	,	,	PUNCT
ftr-309	1201	21	and	and	CCONJ
ftr-309	1201	22	blackstone	blackstone	NOUN
ftr-309	1201	23	group	group	NOUN
ftr-309	1201	24	simply	simply	ADV
ftr-309	1201	25	structured	structure	VERB
ftr-309	1201	26	the	the	DET
ftr-309	1201	27	transaction	transaction	NOUN
ftr-309	1201	28	in	in	ADP
ftr-309	1201	29	a	a	DET
ftr-309	1201	30	manner	manner	NOUN
ftr-309	1201	31	designed	design	VERB
ftr-309	1201	32	to	to	PART
ftr-309	1201	33	achieve	achieve	VERB
ftr-309	1201	34	very	very	ADV
ftr-309	1201	35	favorable	favorable	ADJ
ftr-309	1201	36	tax	tax	NOUN
ftr-309	1201	37	consequences	consequence	NOUN
ftr-309	1201	38	.	.	PUNCT
ftr-309	1202	1	although	although	SCONJ
ftr-309	1202	2	it	it	PRON
ftr-309	1202	3	is	be	AUX
ftr-309	1202	4	true	true	ADJ
ftr-309	1202	5	that	that	SCONJ
ftr-309	1202	6	many	many	ADJ
ftr-309	1202	7	transactions	transaction	NOUN
ftr-309	1202	8	involve	involve	VERB
ftr-309	1202	9	more	more	ADV
ftr-309	1202	10	egregious	egregious	ADJ
ftr-309	1202	11	tax	tax	NOUN
ftr-309	1202	12	abuse	abuse	NOUN
ftr-309	1202	13	than	than	ADP
ftr-309	1202	14	the	the	DET
ftr-309	1202	15	blackstone	blackstone	NOUN
ftr-309	1202	16	group	group	NOUN
ftr-309	1202	17	lp	lp	PROPN
ftr-309	1202	18	structure	structure	NOUN
ftr-309	1202	19	,	,	PUNCT
ftr-309	1202	20	that	that	DET
ftr-309	1202	21	fact	fact	NOUN
ftr-309	1202	22	and	and	CCONJ
ftr-309	1202	23	the	the	DET
ftr-309	1202	24	fact	fact	NOUN
ftr-309	1202	25	that	that	SCONJ
ftr-309	1202	26	the	the	DET
ftr-309	1202	27	underlying	underlie	VERB
ftr-309	1202	28	business	business	NOUN
ftr-309	1202	29	transaction	transaction	NOUN
ftr-309	1202	30	is	be	AUX
ftr-309	1202	31	legitimate	legitimate	ADJ
ftr-309	1202	32	should	should	AUX
ftr-309	1202	33	not	not	PART
ftr-309	1202	34	immunize	immunize	VERB
ftr-309	1202	35	the	the	DET
ftr-309	1202	36	structure	structure	NOUN
ftr-309	1202	37	from	from	ADP
ftr-309	1202	38	challenge	challenge	NOUN
ftr-309	1202	39	.	.	PUNCT
ftr-309	1202	40	'	'	PUNCT
ftr-309	1203	1	8	8	NUM
ftr-309	1203	2	'	'	PUNCT
ftr-309	1203	3	in	in	ADP
ftr-309	1203	4	tax	tax	NOUN
ftr-309	1203	5	law	law	NOUN
ftr-309	1203	6	,	,	PUNCT
ftr-309	1203	7	entire	entire	ADJ
ftr-309	1203	8	doctrines	doctrine	NOUN
ftr-309	1203	9	are	be	AUX
ftr-309	1203	10	built	build	VERB
ftr-309	1203	11	around	around	ADP
ftr-309	1203	12	the	the	DET
ftr-309	1203	13	idea	idea	NOUN
ftr-309	1203	14	that	that	SCONJ
ftr-309	1203	15	there	there	PRON
ftr-309	1203	16	are	be	VERB
ftr-309	1203	17	limits	limit	NOUN
ftr-309	1203	18	on	on	ADP
ftr-309	1203	19	the	the	DET
ftr-309	1203	20	ways	way	NOUN
ftr-309	1203	21	in	in	ADP
ftr-309	1203	22	which	which	PRON
ftr-309	1203	23	taxpayers	taxpayer	NOUN
ftr-309	1203	24	can	can	AUX
ftr-309	1203	25	arrange	arrange	VERB
ftr-309	1203	26	legitimate	legitimate	ADJ
ftr-309	1203	27	business	business	NOUN
ftr-309	1203	28	transactions	transaction	NOUN
ftr-309	1203	29	.	.	PUNCT
ftr-309	1203	30	'	'	PUNCT
ftr-309	1204	1	8	8	NUM
ftr-309	1204	2	2	2	NUM
ftr-309	1204	3	under	under	ADP
ftr-309	1204	4	these	these	DET
ftr-309	1204	5	doctrines	doctrine	NOUN
ftr-309	1204	6	,	,	PUNCT
ftr-309	1204	7	if	if	SCONJ
ftr-309	1204	8	a	a	DET
ftr-309	1204	9	taxpayer	taxpayer	NOUN
ftr-309	1204	10	180	180	NUM
ftr-309	1204	11	.	.	PUNCT
ftr-309	1205	1	this	this	PRON
ftr-309	1205	2	assumes	assume	VERB
ftr-309	1205	3	that	that	SCONJ
ftr-309	1205	4	the	the	DET
ftr-309	1205	5	increased	increase	VERB
ftr-309	1205	6	tax	tax	NOUN
ftr-309	1205	7	revenue	revenue	NOUN
ftr-309	1205	8	collected	collect	VERB
ftr-309	1205	9	from	from	ADP
ftr-309	1205	10	blackstone	blackstone	NOUN
ftr-309	1205	11	group	group	NOUN
ftr-309	1205	12	and	and	CCONJ
ftr-309	1205	13	other	other	ADJ
ftr-309	1205	14	,	,	PUNCT
ftr-309	1205	15	existing	exist	VERB
ftr-309	1205	16	publicly	publicly	ADV
ftr-309	1205	17	traded	trade	VERB
ftr-309	1205	18	partnerships	partnership	NOUN
ftr-309	1205	19	would	would	AUX
ftr-309	1205	20	not	not	PART
ftr-309	1205	21	be	be	AUX
ftr-309	1205	22	offset	offset	VERB
ftr-309	1205	23	by	by	ADP
ftr-309	1205	24	decreased	decrease	VERB
ftr-309	1205	25	tax	tax	NOUN
ftr-309	1205	26	revenue	revenue	NOUN
ftr-309	1205	27	resulting	result	VERB
ftr-309	1205	28	from	from	ADP
ftr-309	1205	29	the	the	DET
ftr-309	1205	30	fact	fact	NOUN
ftr-309	1205	31	that	that	SCONJ
ftr-309	1205	32	challenging	challenge	VERB
ftr-309	1205	33	the	the	DET
ftr-309	1205	34	structure	structure	NOUN
ftr-309	1205	35	could	could	AUX
ftr-309	1205	36	discourage	discourage	VERB
ftr-309	1205	37	other	other	ADJ
ftr-309	1205	38	,	,	PUNCT
ftr-309	1205	39	similar	similar	ADJ
ftr-309	1205	40	entities	entity	NOUN
ftr-309	1205	41	from	from	ADP
ftr-309	1205	42	engaging	engage	VERB
ftr-309	1205	43	in	in	ADP
ftr-309	1205	44	initial	initial	ADJ
ftr-309	1205	45	public	public	ADJ
ftr-309	1205	46	offerings	offering	NOUN
ftr-309	1205	47	.	.	PUNCT
ftr-309	1206	1	this	this	DET
ftr-309	1206	2	assumption	assumption	NOUN
ftr-309	1206	3	is	be	AUX
ftr-309	1206	4	not	not	PART
ftr-309	1206	5	necessarily	necessarily	ADV
ftr-309	1206	6	unfounded	unfounded	ADJ
ftr-309	1206	7	.	.	PUNCT
ftr-309	1207	1	see	see	VERB
ftr-309	1207	2	,	,	PUNCT
ftr-309	1207	3	e.g.	e.g.	ADV
ftr-309	1207	4	,	,	PUNCT
ftr-309	1207	5	fleischer	fleischer	NOUN
ftr-309	1207	6	,	,	PUNCT
ftr-309	1207	7	taxing	tax	VERB
ftr-309	1207	8	blackstone	blackstone	NOUN
ftr-309	1207	9	,	,	PUNCT
ftr-309	1207	10	supra	supra	PROPN
ftr-309	1207	11	note	note	PROPN
ftr-309	1207	12	1	1	NUM
ftr-309	1207	13	,	,	PUNCT
ftr-309	1207	14	at	at	ADP
ftr-309	1207	15	113	113	NUM
ftr-309	1207	16	(	(	PUNCT
ftr-309	1207	17	"	"	PUNCT
ftr-309	1207	18	[	[	X
ftr-309	1207	19	i]t	i]t	NOUN
ftr-309	1207	20	is	be	AUX
ftr-309	1207	21	difficult	difficult	ADJ
ftr-309	1207	22	to	to	PART
ftr-309	1207	23	predict	predict	VERB
ftr-309	1207	24	the	the	DET
ftr-309	1207	25	behavior	behavior	NOUN
ftr-309	1207	26	of	of	ADP
ftr-309	1207	27	other	other	ADJ
ftr-309	1207	28	private	private	ADJ
ftr-309	1207	29	equity	equity	NOUN
ftr-309	1207	30	firms	firm	NOUN
ftr-309	1207	31	considering	consider	VERB
ftr-309	1207	32	going	go	VERB
ftr-309	1207	33	public	public	ADJ
ftr-309	1207	34	.	.	PUNCT
ftr-309	1208	1	kkr	kkr	PROPN
ftr-309	1208	2	and	and	CCONJ
ftr-309	1208	3	others	other	NOUN
ftr-309	1208	4	have	have	AUX
ftr-309	1208	5	proceeded	proceed	VERB
ftr-309	1208	6	with	with	ADP
ftr-309	1208	7	plans	plan	NOUN
ftr-309	1208	8	to	to	PART
ftr-309	1208	9	go	go	VERB
ftr-309	1208	10	public	public	ADJ
ftr-309	1208	11	following	follow	VERB
ftr-309	1208	12	the	the	DET
ftr-309	1208	13	introduction	introduction	NOUN
ftr-309	1208	14	of	of	ADP
ftr-309	1208	15	the	the	DET
ftr-309	1208	16	blackstone	blackstone	NOUN
ftr-309	1208	17	bill	bill	NOUN
ftr-309	1208	18	;	;	PUNCT
ftr-309	1208	19	it	it	PRON
ftr-309	1208	20	seems	seem	VERB
ftr-309	1208	21	likely	likely	ADJ
ftr-309	1208	22	that	that	SCONJ
ftr-309	1208	23	,	,	PUNCT
ftr-309	1208	24	as	as	ADP
ftr-309	1208	25	with	with	ADP
ftr-309	1208	26	investment	investment	NOUN
ftr-309	1208	27	banks	bank	NOUN
ftr-309	1208	28	,	,	PUNCT
ftr-309	1208	29	private	private	ADJ
ftr-309	1208	30	investment	investment	NOUN
ftr-309	1208	31	fund	fund	NOUN
ftr-309	1208	32	managers	manager	NOUN
ftr-309	1208	33	will	will	AUX
ftr-309	1208	34	seek	seek	VERB
ftr-309	1208	35	the	the	DET
ftr-309	1208	36	permanent	permanent	ADJ
ftr-309	1208	37	capital	capital	NOUN
ftr-309	1208	38	and	and	CCONJ
ftr-309	1208	39	liquidity	liquidity	NOUN
ftr-309	1208	40	that	that	PRON
ftr-309	1208	41	public	public	ADJ
ftr-309	1208	42	equity	equity	NOUN
ftr-309	1208	43	provides	provide	VERB
ftr-309	1208	44	.	.	PUNCT
ftr-309	1209	1	on	on	ADP
ftr-309	1209	2	the	the	DET
ftr-309	1209	3	other	other	ADJ
ftr-309	1209	4	hand	hand	NOUN
ftr-309	1209	5	,	,	PUNCT
ftr-309	1209	6	it	it	PRON
ftr-309	1209	7	is	be	AUX
ftr-309	1209	8	certain	certain	ADJ
ftr-309	1209	9	that	that	SCONJ
ftr-309	1209	10	the	the	DET
ftr-309	1209	11	blackstone	blackstone	NOUN
ftr-309	1209	12	bill	bill	NOUN
ftr-309	1209	13	will	will	AUX
ftr-309	1209	14	increase	increase	VERB
ftr-309	1209	15	the	the	DET
ftr-309	1209	16	cost	cost	NOUN
ftr-309	1209	17	of	of	ADP
ftr-309	1209	18	doing	do	VERB
ftr-309	1209	19	so	so	ADV
ftr-309	1209	20	and	and	CCONJ
ftr-309	1209	21	affect	affect	VERB
ftr-309	1209	22	the	the	DET
ftr-309	1209	23	decision	decision	NOUN
ftr-309	1209	24	at	at	ADP
ftr-309	1209	25	the	the	DET
ftr-309	1209	26	margin	margin	NOUN
ftr-309	1209	27	.	.	PUNCT
ftr-309	1209	28	"	"	PUNCT
ftr-309	1209	29	)	)	PUNCT
ftr-309	1209	30	.	.	PUNCT
ftr-309	1210	1	181	181	X
ftr-309	1210	2	.	.	PUNCT
ftr-309	1211	1	see	see	VERB
ftr-309	1211	2	,	,	PUNCT
ftr-309	1211	3	e.g.	e.g.	ADV
ftr-309	1211	4	,	,	PUNCT
ftr-309	1211	5	lederman	lederman	NOUN
ftr-309	1211	6	,	,	PUNCT
ftr-309	1211	7	w(h)ither	w(h)ither	ADV
ftr-309	1211	8	,	,	PUNCT
ftr-309	1211	9	supra	supra	PROPN
ftr-309	1211	10	note	note	VERB
ftr-309	1211	11	142	142	NUM
ftr-309	1211	12	,	,	PUNCT
ftr-309	1211	13	at	at	ADP
ftr-309	1211	14	402	402	NUM
ftr-309	1211	15	(	(	PUNCT
ftr-309	1211	16	"	"	PUNCT
ftr-309	1211	17	[	[	X
ftr-309	1211	18	t]he	t]he	ADV
ftr-309	1211	19	fact	fact	NOUN
ftr-309	1211	20	that	that	SCONJ
ftr-309	1211	21	a	a	DET
ftr-309	1211	22	strategy	strategy	NOUN
ftr-309	1211	23	is	be	AUX
ftr-309	1211	24	integrated	integrate	VERB
ftr-309	1211	25	into	into	ADP
ftr-309	1211	26	the	the	DET
ftr-309	1211	27	taxpayer	taxpayer	NOUN
ftr-309	1211	28	's	's	PART
ftr-309	1211	29	business	business	NOUN
ftr-309	1211	30	,	,	PUNCT
ftr-309	1211	31	rather	rather	ADV
ftr-309	1211	32	than	than	ADP
ftr-309	1211	33	existing	exist	VERB
ftr-309	1211	34	alongside	alongside	ADP
ftr-309	1211	35	it	it	PRON
ftr-309	1211	36	,	,	PUNCT
ftr-309	1211	37	should	should	AUX
ftr-309	1211	38	not	not	PART
ftr-309	1211	39	affect	affect	VERB
ftr-309	1211	40	the	the	DET
ftr-309	1211	41	determination	determination	NOUN
ftr-309	1211	42	of	of	ADP
ftr-309	1211	43	whether	whether	SCONJ
ftr-309	1211	44	that	that	DET
ftr-309	1211	45	strategy	strategy	NOUN
ftr-309	1211	46	is	be	AUX
ftr-309	1211	47	abusive	abusive	ADJ
ftr-309	1211	48	.	.	PUNCT
ftr-309	1212	1	if	if	SCONJ
ftr-309	1212	2	the	the	DET
ftr-309	1212	3	activity	activity	NOUN
ftr-309	1212	4	is	be	AUX
ftr-309	1212	5	abusive	abusive	ADJ
ftr-309	1212	6	,	,	PUNCT
ftr-309	1212	7	it	it	PRON
ftr-309	1212	8	is	be	AUX
ftr-309	1212	9	socially	socially	ADV
ftr-309	1212	10	wasteful	wasteful	ADJ
ftr-309	1212	11	regardless	regardless	ADV
ftr-309	1212	12	of	of	ADP
ftr-309	1212	13	how	how	SCONJ
ftr-309	1212	14	connected	connected	ADJ
ftr-309	1212	15	it	it	PRON
ftr-309	1212	16	is	be	AUX
ftr-309	1212	17	to	to	ADP
ftr-309	1212	18	the	the	DET
ftr-309	1212	19	taxpayer	taxpayer	NOUN
ftr-309	1212	20	's	's	PART
ftr-309	1212	21	business	business	NOUN
ftr-309	1212	22	.	.	PUNCT
ftr-309	1213	1	"	"	PUNCT
ftr-309	1213	2	)	)	PUNCT
ftr-309	1213	3	;	;	PUNCT
ftr-309	1213	4	schler	schler	NOUN
ftr-309	1213	5	,	,	PUNCT
ftr-309	1213	6	ten	ten	NUM
ftr-309	1213	7	more	more	ADJ
ftr-309	1213	8	truths	truth	NOUN
ftr-309	1213	9	,	,	PUNCT
ftr-309	1213	10	supra	supra	PROPN
ftr-309	1213	11	note	note	NOUN
ftr-309	1213	12	142	142	NUM
ftr-309	1213	13	,	,	PUNCT
ftr-309	1213	14	at	at	ADP
ftr-309	1213	15	337	337	NUM
ftr-309	1213	16	-	-	SYM
ftr-309	1213	17	39	39	NUM
ftr-309	1213	18	(	(	PUNCT
ftr-309	1213	19	suggesting	suggest	VERB
ftr-309	1213	20	that	that	SCONJ
ftr-309	1213	21	"	"	PUNCT
ftr-309	1213	22	real	real	ADJ
ftr-309	1213	23	business	business	NOUN
ftr-309	1213	24	transactions	transaction	NOUN
ftr-309	1213	25	done	do	VERB
ftr-309	1213	26	in	in	ADP
ftr-309	1213	27	a	a	DET
ftr-309	1213	28	funny	funny	ADJ
ftr-309	1213	29	way	way	NOUN
ftr-309	1213	30	"	"	PUNCT
ftr-309	1213	31	should	should	AUX
ftr-309	1213	32	be	be	AUX
ftr-309	1213	33	impermissible	impermissible	ADJ
ftr-309	1213	34	when	when	SCONJ
ftr-309	1213	35	they	they	PRON
ftr-309	1213	36	reach	reach	VERB
ftr-309	1213	37	results	result	NOUN
ftr-309	1213	38	unintended	unintended	ADJ
ftr-309	1213	39	by	by	ADP
ftr-309	1213	40	congress	congress	PROPN
ftr-309	1213	41	)	)	PUNCT
ftr-309	1213	42	;	;	PUNCT
ftr-309	1213	43	shaviro	shaviro	NOUN
ftr-309	1213	44	&	&	CCONJ
ftr-309	1213	45	weisbach	weisbach	NOUN
ftr-309	1213	46	,	,	PUNCT
ftr-309	1213	47	the	the	DET
ftr-309	1213	48	fifth	fifth	ADJ
ftr-309	1213	49	circuit	circuit	NOUN
ftr-309	1213	50	,	,	PUNCT
ftr-309	1213	51	supra	supra	PROPN
ftr-309	1213	52	note	note	NOUN
ftr-309	1213	53	140	140	NUM
ftr-309	1213	54	,	,	PUNCT
ftr-309	1213	55	at	at	ADP
ftr-309	1213	56	513	513	NUM
ftr-309	1213	57	(	(	PUNCT
ftr-309	1213	58	"	"	PUNCT
ftr-309	1213	59	[	[	X
ftr-309	1213	60	w]e	w]e	NOUN
ftr-309	1213	61	should	should	AUX
ftr-309	1213	62	always	always	ADV
ftr-309	1213	63	keep	keep	VERB
ftr-309	1213	64	in	in	ADP
ftr-309	1213	65	mind	mind	NOUN
ftr-309	1213	66	that	that	SCONJ
ftr-309	1213	67	even	even	ADV
ftr-309	1213	68	the	the	DET
ftr-309	1213	69	most	most	ADV
ftr-309	1213	70	mundane	mundane	ADJ
ftr-309	1213	71	tax	tax	NOUN
ftr-309	1213	72	planning	planning	NOUN
ftr-309	1213	73	is	be	AUX
ftr-309	1213	74	not	not	PART
ftr-309	1213	75	the	the	DET
ftr-309	1213	76	same	same	ADJ
ftr-309	1213	77	as	as	ADP
ftr-309	1213	78	,	,	PUNCT
ftr-309	1213	79	say	say	INTJ
ftr-309	1213	80	,	,	PUNCT
ftr-309	1213	81	curing	cure	VERB
ftr-309	1213	82	sick	sick	ADJ
ftr-309	1213	83	people	people	NOUN
ftr-309	1213	84	,	,	PUNCT
ftr-309	1213	85	inventing	invent	VERB
ftr-309	1213	86	a	a	DET
ftr-309	1213	87	new	new	ADJ
ftr-309	1213	88	product	product	NOUN
ftr-309	1213	89	,	,	PUNCT
ftr-309	1213	90	or	or	CCONJ
ftr-309	1213	91	even	even	ADV
ftr-309	1213	92	driving	drive	VERB
ftr-309	1213	93	a	a	DET
ftr-309	1213	94	bus	bus	NOUN
ftr-309	1213	95	.	.	PUNCT
ftr-309	1213	96	"	"	PUNCT
ftr-309	1213	97	)	)	PUNCT
ftr-309	1213	98	.	.	PUNCT
ftr-309	1214	1	182	182	NUM
ftr-309	1214	2	.	.	X
ftr-309	1215	1	for	for	ADP
ftr-309	1215	2	example	example	NOUN
ftr-309	1215	3	,	,	PUNCT
ftr-309	1215	4	the	the	DET
ftr-309	1215	5	step	step	NOUN
ftr-309	1215	6	transaction	transaction	NOUN
ftr-309	1215	7	doctrine	doctrine	NOUN
ftr-309	1215	8	limits	limit	VERB
ftr-309	1215	9	how	how	SCONJ
ftr-309	1215	10	taxpayers	taxpayer	NOUN
ftr-309	1215	11	can	can	AUX
ftr-309	1215	12	arrange	arrange	VERB
ftr-309	1215	13	legitimate	legitimate	ADJ
ftr-309	1215	14	business	business	NOUN
ftr-309	1215	15	transactions	transaction	NOUN
ftr-309	1215	16	.	.	PUNCT
ftr-309	1216	1	discussion	discussion	NOUN
ftr-309	1216	2	of	of	ADP
ftr-309	1216	3	this	this	DET
ftr-309	1216	4	doctrine	doctrine	NOUN
ftr-309	1216	5	is	be	AUX
ftr-309	1216	6	beyond	beyond	ADP
ftr-309	1216	7	the	the	DET
ftr-309	1216	8	205	205	NUM
ftr-309	1216	9	florida	florida	PROPN
ftr-309	1216	10	tax	tax	NOUN
ftr-309	1216	11	review	review	NOUN
ftr-309	1216	12	arranges	arrange	VERB
ftr-309	1216	13	the	the	DET
ftr-309	1216	14	transaction	transaction	NOUN
ftr-309	1216	15	in	in	ADP
ftr-309	1216	16	a	a	DET
ftr-309	1216	17	way	way	NOUN
ftr-309	1216	18	not	not	PART
ftr-309	1216	19	contemplated	contemplate	VERB
ftr-309	1216	20	by	by	ADP
ftr-309	1216	21	existing	exist	VERB
ftr-309	1216	22	tax	tax	NOUN
ftr-309	1216	23	rules	rule	NOUN
ftr-309	1216	24	,	,	PUNCT
ftr-309	1216	25	the	the	DET
ftr-309	1216	26	transaction	transaction	NOUN
ftr-309	1216	27	is	be	AUX
ftr-309	1216	28	subject	subject	ADJ
ftr-309	1216	29	to	to	ADP
ftr-309	1216	30	challenge	challenge	NOUN
ftr-309	1216	31	.	.	PUNCT
ftr-309	1217	1	moreover	moreover	ADV
ftr-309	1217	2	,	,	PUNCT
ftr-309	1217	3	there	there	PRON
ftr-309	1217	4	are	be	VERB
ftr-309	1217	5	good	good	ADJ
ftr-309	1217	6	reasons	reason	NOUN
ftr-309	1217	7	for	for	ADP
ftr-309	1217	8	placing	place	VERB
ftr-309	1217	9	limits	limit	NOUN
ftr-309	1217	10	on	on	ADP
ftr-309	1217	11	structuring	structure	VERB
ftr-309	1217	12	legitimate	legitimate	ADJ
ftr-309	1217	13	business	business	NOUN
ftr-309	1217	14	transactions	transaction	NOUN
ftr-309	1217	15	because	because	SCONJ
ftr-309	1217	16	,	,	PUNCT
ftr-309	1217	17	without	without	ADP
ftr-309	1217	18	such	such	ADJ
ftr-309	1217	19	limits	limit	NOUN
ftr-309	1217	20	,	,	PUNCT
ftr-309	1217	21	taxpayers	taxpayer	NOUN
ftr-309	1217	22	can	can	AUX
ftr-309	1217	23	take	take	VERB
ftr-309	1217	24	advantage	advantage	NOUN
ftr-309	1217	25	of	of	ADP
ftr-309	1217	26	the	the	DET
ftr-309	1217	27	unintended	unintended	ADJ
ftr-309	1217	28	tax	tax	NOUN
ftr-309	1217	29	consequences	consequence	NOUN
ftr-309	1217	30	of	of	ADP
ftr-309	1217	31	existing	exist	VERB
ftr-309	1217	32	tax	tax	NOUN
ftr-309	1217	33	rules	rule	NOUN
ftr-309	1217	34	.	.	PUNCT
ftr-309	1218	1	vii	vii	PROPN
ftr-309	1218	2	.	.	PROPN
ftr-309	1218	3	conclusion	conclusion	PROPN
ftr-309	1218	4	blackstone	blackstone	NOUN
ftr-309	1218	5	group	group	PROPN
ftr-309	1218	6	lp	lp	PROPN
ftr-309	1218	7	uses	use	VERB
ftr-309	1218	8	a	a	DET
ftr-309	1218	9	structure	structure	NOUN
ftr-309	1218	10	that	that	PRON
ftr-309	1218	11	inappropriately	inappropriately	ADV
ftr-309	1218	12	exploits	exploit	VERB
ftr-309	1218	13	a	a	DET
ftr-309	1218	14	loophole	loophole	NOUN
ftr-309	1218	15	in	in	ADP
ftr-309	1218	16	the	the	DET
ftr-309	1218	17	current	current	ADJ
ftr-309	1218	18	partnership	partnership	NOUN
ftr-309	1218	19	tax	tax	NOUN
ftr-309	1218	20	allocation	allocation	NOUN
ftr-309	1218	21	rules	rule	NOUN
ftr-309	1218	22	.	.	PUNCT
ftr-309	1219	1	the	the	DET
ftr-309	1219	2	irs	irs	PROPN
ftr-309	1219	3	could	could	AUX
ftr-309	1219	4	and	and	CCONJ
ftr-309	1219	5	should	should	AUX
ftr-309	1219	6	challenge	challenge	VERB
ftr-309	1219	7	blackstone	blackstone	NOUN
ftr-309	1219	8	group	group	NOUN
ftr-309	1219	9	's	's	PART
ftr-309	1219	10	results	result	NOUN
ftr-309	1219	11	under	under	ADP
ftr-309	1219	12	available	available	ADJ
ftr-309	1219	13	standards	standard	NOUN
ftr-309	1219	14	that	that	PRON
ftr-309	1219	15	are	be	AUX
ftr-309	1219	16	designed	design	VERB
ftr-309	1219	17	to	to	PART
ftr-309	1219	18	close	close	VERB
ftr-309	1219	19	loopholes	loophole	NOUN
ftr-309	1219	20	in	in	ADP
ftr-309	1219	21	tax	tax	NOUN
ftr-309	1219	22	rules	rule	NOUN
ftr-309	1219	23	.	.	PUNCT
ftr-309	1220	1	some	some	PRON
ftr-309	1220	2	of	of	ADP
ftr-309	1220	3	the	the	DET
ftr-309	1220	4	arguments	argument	NOUN
ftr-309	1220	5	against	against	ADP
ftr-309	1220	6	the	the	DET
ftr-309	1220	7	irs	irs	PROPN
ftr-309	1220	8	taking	take	VERB
ftr-309	1220	9	action	action	NOUN
ftr-309	1220	10	may	may	AUX
ftr-309	1220	11	,	,	PUNCT
ftr-309	1220	12	at	at	ADP
ftr-309	1220	13	first	first	ADJ
ftr-309	1220	14	glance	glance	NOUN
ftr-309	1220	15	,	,	PUNCT
ftr-309	1220	16	appear	appear	VERB
ftr-309	1220	17	legitimate	legitimate	ADJ
ftr-309	1220	18	.	.	PUNCT
ftr-309	1221	1	however	however	ADV
ftr-309	1221	2	,	,	PUNCT
ftr-309	1221	3	a	a	DET
ftr-309	1221	4	closer	close	ADJ
ftr-309	1221	5	examination	examination	NOUN
ftr-309	1221	6	reveals	reveal	VERB
ftr-309	1221	7	that	that	SCONJ
ftr-309	1221	8	although	although	SCONJ
ftr-309	1221	9	some	some	PRON
ftr-309	1221	10	of	of	ADP
ftr-309	1221	11	these	these	DET
ftr-309	1221	12	arguments	argument	NOUN
ftr-309	1221	13	might	might	AUX
ftr-309	1221	14	justify	justify	VERB
ftr-309	1221	15	legislative	legislative	ADJ
ftr-309	1221	16	reform	reform	NOUN
ftr-309	1221	17	to	to	ADP
ftr-309	1221	18	the	the	DET
ftr-309	1221	19	publicly	publicly	ADV
ftr-309	1221	20	traded	trade	VERB
ftr-309	1221	21	partnership	partnership	NOUN
ftr-309	1221	22	rules	rule	NOUN
ftr-309	1221	23	,	,	PUNCT
ftr-309	1221	24	they	they	PRON
ftr-309	1221	25	do	do	AUX
ftr-309	1221	26	not	not	PART
ftr-309	1221	27	excuse	excuse	VERB
ftr-309	1221	28	a	a	DET
ftr-309	1221	29	failure	failure	NOUN
ftr-309	1221	30	to	to	PART
ftr-309	1221	31	challenge	challenge	VERB
ftr-309	1221	32	tax	tax	NOUN
ftr-309	1221	33	structures	structure	NOUN
ftr-309	1221	34	that	that	PRON
ftr-309	1221	35	flout	flout	VERB
ftr-309	1221	36	current	current	ADJ
ftr-309	1221	37	law	law	NOUN
ftr-309	1221	38	.	.	PUNCT
ftr-309	1222	1	this	this	PRON
ftr-309	1222	2	is	be	AUX
ftr-309	1222	3	particularly	particularly	ADV
ftr-309	1222	4	true	true	ADJ
ftr-309	1222	5	because	because	SCONJ
ftr-309	1222	6	blackstone	blackstone	NOUN
ftr-309	1222	7	group	group	NOUN
ftr-309	1222	8	's	's	PART
ftr-309	1222	9	structure	structure	NOUN
ftr-309	1222	10	represents	represent	VERB
ftr-309	1222	11	merely	merely	ADV
ftr-309	1222	12	one	one	NUM
ftr-309	1222	13	example	example	NOUN
ftr-309	1222	14	of	of	ADP
ftr-309	1222	15	the	the	DET
ftr-309	1222	16	manner	manner	NOUN
ftr-309	1222	17	in	in	ADP
ftr-309	1222	18	which	which	PRON
ftr-309	1222	19	related	related	ADJ
ftr-309	1222	20	partners	partner	NOUN
ftr-309	1222	21	can	can	AUX
ftr-309	1222	22	exploit	exploit	VERB
ftr-309	1222	23	a	a	DET
ftr-309	1222	24	loophole	loophole	NOUN
ftr-309	1222	25	in	in	ADP
ftr-309	1222	26	the	the	DET
ftr-309	1222	27	partnership	partnership	NOUN
ftr-309	1222	28	tax	tax	NOUN
ftr-309	1222	29	allocation	allocation	NOUN
ftr-309	1222	30	rules	rule	NOUN
ftr-309	1222	31	.	.	PUNCT
ftr-309	1223	1	therefore	therefore	ADV
ftr-309	1223	2	,	,	PUNCT
ftr-309	1223	3	challenging	challenge	VERB
ftr-309	1223	4	blackstone	blackstone	NOUN
ftr-309	1223	5	group	group	NOUN
ftr-309	1223	6	's	's	PART
ftr-309	1223	7	structure	structure	NOUN
ftr-309	1223	8	will	will	AUX
ftr-309	1223	9	deter	deter	VERB
ftr-309	1223	10	other	other	ADJ
ftr-309	1223	11	taxpayers	taxpayer	NOUN
ftr-309	1223	12	from	from	ADP
ftr-309	1223	13	manipulating	manipulate	VERB
ftr-309	1223	14	the	the	DET
ftr-309	1223	15	existing	exist	VERB
ftr-309	1223	16	rules	rule	NOUN
ftr-309	1223	17	at	at	ADP
ftr-309	1223	18	a	a	DET
ftr-309	1223	19	large	large	ADJ
ftr-309	1223	20	cost	cost	NOUN
ftr-309	1223	21	to	to	ADP
ftr-309	1223	22	the	the	DET
ftr-309	1223	23	public	public	NOUN
ftr-309	1223	24	.	.	PUNCT
ftr-309	1224	1	scope	scope	NOUN
ftr-309	1224	2	of	of	ADP
ftr-309	1224	3	this	this	DET
ftr-309	1224	4	article	article	NOUN
ftr-309	1224	5	.	.	PUNCT
ftr-309	1225	1	for	for	ADP
ftr-309	1225	2	more	more	ADJ
ftr-309	1225	3	information	information	NOUN
ftr-309	1225	4	on	on	ADP
ftr-309	1225	5	this	this	DET
ftr-309	1225	6	topic	topic	NOUN
ftr-309	1225	7	,	,	PUNCT
ftr-309	1225	8	see	see	PROPN
ftr-309	1225	9	boris	boris	PROPN
ftr-309	1225	10	i.	i.	PROPN
ftr-309	1225	11	bittker	bittker	PROPN
ftr-309	1225	12	&	&	CCONJ
ftr-309	1225	13	lawrence	lawrence	PROPN
ftr-309	1225	14	lokken	lokken	PROPN
ftr-309	1225	15	,	,	PUNCT
ftr-309	1225	16	federal	federal	ADJ
ftr-309	1225	17	taxation	taxation	NOUN
ftr-309	1225	18	of	of	ADP
ftr-309	1225	19	income	income	NOUN
ftr-309	1225	20	,	,	PUNCT
ftr-309	1225	21	estates	estate	NOUN
ftr-309	1225	22	and	and	CCONJ
ftr-309	1225	23	gifts	gift	NOUN
ftr-309	1225	24	t	t	X
ftr-309	1225	25	4.3.5	4.3.5	NUM
ftr-309	1225	26	(	(	PUNCT
ftr-309	1225	27	2012	2012	NUM
ftr-309	1225	28	)	)	PUNCT
ftr-309	1225	29	and	and	CCONJ
ftr-309	1225	30	jeffrey	jeffrey	PROPN
ftr-309	1225	31	c.	c.	PROPN
ftr-309	1225	32	glickman	glickman	PROPN
ftr-309	1225	33	&	&	CCONJ
ftr-309	1225	34	clark	clark	PROPN
ftr-309	1225	35	r.	r.	PROPN
ftr-309	1225	36	calhoun	calhoun	PROPN
ftr-309	1225	37	,	,	PUNCT
ftr-309	1225	38	the	the	DET
ftr-309	1225	39	"	"	PUNCT
ftr-309	1225	40	states	state	NOUN
ftr-309	1225	41	"	"	PUNCT
ftr-309	1225	42	of	of	ADP
ftr-309	1225	43	the	the	DET
ftr-309	1225	44	federal	federal	ADJ
ftr-309	1225	45	common	common	ADJ
ftr-309	1225	46	law	law	NOUN
ftr-309	1225	47	tax	tax	NOUN
ftr-309	1225	48	doctrines	doctrine	NOUN
ftr-309	1225	49	,	,	PUNCT
ftr-309	1225	50	61	61	NUM
ftr-309	1225	51	tax	tax	NOUN
ftr-309	1225	52	law	law	NOUN
ftr-309	1225	53	.	.	PUNCT
ftr-309	1226	1	1181	1181	NUM
ftr-309	1226	2	,	,	PUNCT
ftr-309	1226	3	1187	1187	NUM
ftr-309	1226	4	(	(	PUNCT
ftr-309	1226	5	2008	2008	NUM
ftr-309	1226	6	)	)	PUNCT
ftr-309	1226	7	,	,	PUNCT
ftr-309	1226	8	quoting	quote	VERB
ftr-309	1226	9	smith	smith	PROPN
ftr-309	1226	10	v.	v.	PROPN
ftr-309	1226	11	commissioner	commissioner	PROPN
ftr-309	1226	12	and	and	CCONJ
ftr-309	1226	13	stating	state	VERB
ftr-309	1226	14	:	:	PUNCT
ftr-309	1226	15	"	"	PUNCT
ftr-309	1226	16	the	the	DET
ftr-309	1226	17	step	step	NOUN
ftr-309	1226	18	transaction	transaction	NOUN
ftr-309	1226	19	doctrine	doctrine	NOUN
ftr-309	1226	20	generally	generally	ADV
ftr-309	1226	21	applies	apply	VERB
ftr-309	1226	22	in	in	ADP
ftr-309	1226	23	cases	case	NOUN
ftr-309	1226	24	where	where	SCONJ
ftr-309	1226	25	a	a	DET
ftr-309	1226	26	taxpayer	taxpayer	NOUN
ftr-309	1226	27	seeks	seek	VERB
ftr-309	1226	28	to	to	PART
ftr-309	1226	29	get	get	VERB
ftr-309	1226	30	from	from	ADP
ftr-309	1226	31	point	point	NOUN
ftr-309	1226	32	a	a	PRON
ftr-309	1226	33	to	to	PART
ftr-309	1226	34	point	point	VERB
ftr-309	1226	35	d	d	NOUN
ftr-309	1226	36	and	and	CCONJ
ftr-309	1226	37	does	do	AUX
ftr-309	1226	38	so	so	ADV
ftr-309	1226	39	stopping	stop	VERB
ftr-309	1226	40	in	in	ADP
ftr-309	1226	41	between	between	ADP
ftr-309	1226	42	at	at	ADP
ftr-309	1226	43	points	point	NOUN
ftr-309	1226	44	b	b	NOUN
ftr-309	1226	45	and	and	CCONJ
ftr-309	1226	46	c.	c.	NOUN
ftr-309	1226	47	the	the	DET
ftr-309	1226	48	whole	whole	ADJ
ftr-309	1226	49	purpose	purpose	NOUN
ftr-309	1226	50	of	of	ADP
ftr-309	1226	51	the	the	DET
ftr-309	1226	52	unnecessary	unnecessary	ADJ
ftr-309	1226	53	stops	stop	NOUN
ftr-309	1226	54	is	be	AUX
ftr-309	1226	55	to	to	PART
ftr-309	1226	56	achieve	achieve	VERB
ftr-309	1226	57	tax	tax	NOUN
ftr-309	1226	58	consequences	consequence	NOUN
ftr-309	1226	59	differing	differ	VERB
ftr-309	1226	60	from	from	ADP
ftr-309	1226	61	those	those	PRON
ftr-309	1226	62	which	which	PRON
ftr-309	1226	63	a	a	DET
ftr-309	1226	64	direct	direct	ADJ
ftr-309	1226	65	path	path	NOUN
ftr-309	1226	66	from	from	ADP
ftr-309	1226	67	a	a	PRON
ftr-309	1226	68	to	to	NOUN
ftr-309	1226	69	d	d	PROPN
ftr-309	1226	70	would	would	AUX
ftr-309	1226	71	have	have	AUX
ftr-309	1226	72	produced	produce	VERB
ftr-309	1226	73	.	.	PUNCT
ftr-309	1227	1	in	in	ADP
ftr-309	1227	2	such	such	DET
ftr-309	1227	3	a	a	DET
ftr-309	1227	4	situation	situation	NOUN
ftr-309	1227	5	,	,	PUNCT
ftr-309	1227	6	courts	court	NOUN
ftr-309	1227	7	are	be	AUX
ftr-309	1227	8	not	not	PART
ftr-309	1227	9	bound	bind	VERB
ftr-309	1227	10	by	by	ADP
ftr-309	1227	11	the	the	DET
ftr-309	1227	12	twisted	twisted	ADJ
ftr-309	1227	13	path	path	NOUN
ftr-309	1227	14	taken	take	VERB
ftr-309	1227	15	by	by	ADP
ftr-309	1227	16	the	the	DET
ftr-309	1227	17	taxpayer	taxpayer	NOUN
ftr-309	1227	18	,	,	PUNCT
ftr-309	1227	19	and	and	CCONJ
ftr-309	1227	20	the	the	DET
ftr-309	1227	21	intervening	intervene	VERB
ftr-309	1227	22	stops	stop	NOUN
ftr-309	1227	23	may	may	AUX
ftr-309	1227	24	be	be	AUX
ftr-309	1227	25	disregarded	disregard	VERB
ftr-309	1227	26	or	or	CCONJ
ftr-309	1227	27	rearranged	rearrange	VERB
ftr-309	1227	28	.	.	PUNCT
ftr-309	1227	29	"	"	PUNCT
ftr-309	1228	1	206	206	NUM
ftr-309	1229	1	[	[	X
ftr-309	1229	2	vol	vol	NOUN
ftr-309	1229	3	.	.	PUNCT
ftr-309	1229	4	14:5	14:5	NUM
ftr-309	1229	5	2013	2013	NUM
ftr-309	1229	6	]	]	PUNCT
ftr-309	1229	7	was	be	AUX
ftr-309	1229	8	blackstone	blackstone	NOUN
ftr-309	1229	9	's	's	PART
ftr-309	1229	10	initial	initial	ADJ
ftr-309	1229	11	public	public	ADJ
ftr-309	1229	12	offering	offering	NOUN
ftr-309	1229	13	too	too	ADV
ftr-309	1229	14	good	good	ADJ
ftr-309	1229	15	to	to	PART
ftr-309	1229	16	be	be	AUX
ftr-309	1229	17	true	true	ADJ
ftr-309	1229	18	?	?	PUNCT
ftr-309	1230	1	207	207	NUM
ftr-309	1230	2	appendix	appendix	PROPN
ftr-309	1230	3	i.	i.	PROPN
ftr-309	1230	4	actual	actual	ADJ
ftr-309	1230	5	blackstone	blackstone	NOUN
ftr-309	1230	6	structure	structure	NOUN
ftr-309	1230	7	as	as	SCONJ
ftr-309	1230	8	shown	show	VERB
ftr-309	1230	9	in	in	ADP
ftr-309	1230	10	the	the	DET
ftr-309	1230	11	blackstone	blackstone	NOUN
ftr-309	1230	12	s-1,1	s-1,1	PROPN
ftr-309	1230	13	83	83	NUM
ftr-309	1230	14	the	the	DET
ftr-309	1230	15	actual	actual	ADJ
ftr-309	1230	16	structure	structure	NOUN
ftr-309	1230	17	used	use	VERB
ftr-309	1230	18	is	be	AUX
ftr-309	1230	19	reflected	reflect	VERB
ftr-309	1230	20	in	in	ADP
ftr-309	1230	21	figure	figure	NOUN
ftr-309	1230	22	2	2	NUM
ftr-309	1230	23	below	below	ADV
ftr-309	1230	24	.	.	PUNCT
ftr-309	1231	1	183	183	NUM
ftr-309	1231	2	.	.	PUNCT
ftr-309	1232	1	blackstone	blackstone	NOUN
ftr-309	1232	2	s-1	s-1	PROPN
ftr-309	1232	3	,	,	PUNCT
ftr-309	1232	4	supra	supra	PROPN
ftr-309	1232	5	note	note	NOUN
ftr-309	1232	6	1	1	NUM
ftr-309	1232	7	,	,	PUNCT
ftr-309	1232	8	at	at	ADP
ftr-309	1232	9	11	11	NUM
ftr-309	1232	10	.	.	PUNCT
ftr-309	1233	1	i	i	PRON
ftr-309	1233	2	igu~	igu~	VERB
ftr-309	1233	3	t	t	PROPN
ftr-309	1233	4	2	2	NUM
ftr-309	1233	5	blackst	blackst	PROPN
ftr-309	1233	6	inc	inc	PROPN
ftr-309	1233	7	sti	sti	PROPN
ftr-309	1233	8	u	u	PROPN
ftr-309	1233	9	iute	iute	ADV
ftr-309	1233	10	from	from	ADP
ftr-309	1233	11	s~	s~	PROPN
ftr-309	1233	12	i	i	PRON
ftr-309	1233	13	a	a	PRON
ftr-309	1233	14	'	'	PUNCT
ftr-309	1233	15	at	at	ADP
ftr-309	1233	16	.	.	PUNCT
ftr-309	1234	1	<	<	X
ftr-309	1234	2	9w	9w	NOUN
ftr-309	1234	3	~n	~n	NUM
ftr-309	1234	4	5	5	NUM
ftr-309	1234	5	>	>	SYM
ftr-309	1234	6	4	4	NUM
ftr-309	1234	7	'	'	NUM
ftr-309	1234	8	k	k	X
ftr-309	1234	9	kk	kk	X
ftr-309	1234	10	<	<	X
ftr-309	1234	11	~	~	PUNCT
ftr-309	1234	12	.~	.~	NOUN
ftr-309	1234	13	'	'	PUNCT
ftr-309	1234	14	v	v	ADP
ftr-309	1234	15	4	4	NUM
ftr-309	1235	1	-~	-~	PROPN
ftr-309	1235	2	n~'-~	n~'-~	ADJ
ftr-309	1235	3	n	n	CCONJ
ftr-309	1235	4	7	7	NUM
ftr-309	1235	5	n	n	NUM
ftr-309	1235	6	-k	-k	PROPN
ftr-309	1235	7	-	-	PUNCT
ftr-309	1235	8	i	i	NOUN
ftr-309	1235	9	v	v	NOUN
ftr-309	1235	10	!	!	PUNCT
ftr-309	1236	1	5	5	NUM
ftr-309	1236	2	t	t	NOUN
ftr-309	1236	3	2013	2013	NUM
ftr-309	1236	4	]	]	PUNCT
ftr-309	1236	5	was	be	AUX
ftr-309	1236	6	blackstone	blackstone	NOUN
ftr-309	1236	7	's	's	PART
ftr-309	1236	8	initial	initial	ADJ
ftr-309	1236	9	public	public	ADJ
ftr-309	1236	10	offering	offering	NOUN
ftr-309	1236	11	too	too	ADV
ftr-309	1236	12	good	good	ADJ
ftr-309	1236	13	to	to	PART
ftr-309	1236	14	be	be	AUX
ftr-309	1236	15	true	true	ADJ
ftr-309	1236	16	?	?	PUNCT
ftr-309	1237	1	ii	ii	X
ftr-309	1237	2	.	.	PUNCT
ftr-309	1238	1	simplifying	simplify	VERB
ftr-309	1238	2	adjustments	adjustment	NOUN
ftr-309	1238	3	in	in	ADP
ftr-309	1238	4	figure	figure	NOUN
ftr-309	1238	5	2	2	NUM
ftr-309	1238	6	,	,	PUNCT
ftr-309	1238	7	the	the	DET
ftr-309	1238	8	entities	entity	NOUN
ftr-309	1238	9	labeled	label	VERB
ftr-309	1238	10	entities	entity	NOUN
ftr-309	1238	11	f	f	NOUN
ftr-309	1238	12	,	,	PUNCT
ftr-309	1238	13	g	g	PROPN
ftr-309	1238	14	,	,	PUNCT
ftr-309	1238	15	h	h	NOUN
ftr-309	1238	16	,	,	PUNCT
ftr-309	1238	17	i	i	PRON
ftr-309	1238	18	,	,	PUNCT
ftr-309	1238	19	and	and	CCONJ
ftr-309	1238	20	j	j	NOUN
ftr-309	1238	21	,	,	PUNCT
ftr-309	1238	22	indirectly	indirectly	ADV
ftr-309	1238	23	receive	receive	VERB
ftr-309	1238	24	management	management	NOUN
ftr-309	1238	25	fees	fee	NOUN
ftr-309	1238	26	and	and	CCONJ
ftr-309	1238	27	carried	carry	VERB
ftr-309	1238	28	interest	interest	NOUN
ftr-309	1238	29	from	from	ADP
ftr-309	1238	30	funds	fund	NOUN
ftr-309	1238	31	sponsored	sponsor	VERB
ftr-309	1238	32	by	by	ADP
ftr-309	1238	33	the	the	DET
ftr-309	1238	34	blackstone	blackstone	NOUN
ftr-309	1238	35	firm	firm	NOUN
ftr-309	1238	36	.	.	PUNCT
ftr-309	1239	1	18	18	NUM
ftr-309	1239	2	4	4	NUM
ftr-309	1239	3	entities	entity	NOUN
ftr-309	1239	4	f	f	NUM
ftr-309	1239	5	,	,	PUNCT
ftr-309	1239	6	g	g	PROPN
ftr-309	1239	7	,	,	PUNCT
ftr-309	1239	8	h	h	NOUN
ftr-309	1239	9	,	,	PUNCT
ftr-309	1239	10	i	i	PRON
ftr-309	1239	11	,	,	PUNCT
ftr-309	1239	12	and	and	CCONJ
ftr-309	1239	13	j	j	PROPN
ftr-309	1239	14	are	be	AUX
ftr-309	1239	15	treated	treat	VERB
ftr-309	1239	16	as	as	ADP
ftr-309	1239	17	partnerships	partnership	NOUN
ftr-309	1239	18	for	for	ADP
ftr-309	1239	19	tax	tax	NOUN
ftr-309	1239	20	purposes	purpose	NOUN
ftr-309	1239	21	.	.	PUNCT
ftr-309	1240	1	because	because	SCONJ
ftr-309	1240	2	partnerships	partnership	NOUN
ftr-309	1240	3	are	be	AUX
ftr-309	1240	4	pass	pass	NOUN
ftr-309	1240	5	-	-	PUNCT
ftr-309	1240	6	through	through	ADP
ftr-309	1240	7	entities	entity	NOUN
ftr-309	1240	8	for	for	ADP
ftr-309	1240	9	tax	tax	NOUN
ftr-309	1240	10	purposes	purpose	NOUN
ftr-309	1240	11	,	,	PUNCT
ftr-309	1240	12	from	from	ADP
ftr-309	1240	13	a	a	DET
ftr-309	1240	14	tax	tax	NOUN
ftr-309	1240	15	perspective	perspective	NOUN
ftr-309	1240	16	,	,	PUNCT
ftr-309	1240	17	the	the	DET
ftr-309	1240	18	results	result	NOUN
ftr-309	1240	19	of	of	ADP
ftr-309	1240	20	the	the	DET
ftr-309	1240	21	structure	structure	NOUN
ftr-309	1240	22	would	would	AUX
ftr-309	1240	23	be	be	AUX
ftr-309	1240	24	the	the	DET
ftr-309	1240	25	same	same	ADJ
ftr-309	1240	26	if	if	SCONJ
ftr-309	1240	27	entities	entity	NOUN
ftr-309	1240	28	a	a	DET
ftr-309	1240	29	,	,	PUNCT
ftr-309	1240	30	b	b	NOUN
ftr-309	1240	31	,	,	PUNCT
ftr-309	1240	32	c	c	NOUN
ftr-309	1240	33	,	,	PUNCT
ftr-309	1240	34	d	d	NOUN
ftr-309	1240	35	,	,	PUNCT
ftr-309	1240	36	and	and	CCONJ
ftr-309	1240	37	e	e	NOUN
ftr-309	1240	38	directly	directly	ADV
ftr-309	1240	39	owned	own	VERB
ftr-309	1240	40	assets	asset	NOUN
ftr-309	1240	41	and	and	CCONJ
ftr-309	1240	42	directly	directly	ADV
ftr-309	1240	43	received	receive	VERB
ftr-309	1240	44	income	income	NOUN
ftr-309	1240	45	that	that	PRON
ftr-309	1240	46	entities	entitie	VERB
ftr-309	1240	47	a	a	DET
ftr-309	1240	48	,	,	PUNCT
ftr-309	1240	49	b	b	NOUN
ftr-309	1240	50	,	,	PUNCT
ftr-309	1240	51	c	c	NOUN
ftr-309	1240	52	,	,	PUNCT
ftr-309	1240	53	d	d	NOUN
ftr-309	1240	54	,	,	PUNCT
ftr-309	1240	55	and	and	CCONJ
ftr-309	1240	56	e	e	X
ftr-309	1240	57	own	own	ADJ
ftr-309	1240	58	or	or	CCONJ
ftr-309	1240	59	receive	receive	VERB
ftr-309	1240	60	,	,	PUNCT
ftr-309	1240	61	indirectly	indirectly	ADV
ftr-309	1240	62	,	,	PUNCT
ftr-309	1240	63	through	through	ADP
ftr-309	1240	64	entities	entity	NOUN
ftr-309	1240	65	f	f	PROPN
ftr-309	1240	66	,	,	PUNCT
ftr-309	1240	67	g	g	PROPN
ftr-309	1240	68	,	,	PUNCT
ftr-309	1240	69	h	h	NOUN
ftr-309	1240	70	,	,	PUNCT
ftr-309	1240	71	i	i	PRON
ftr-309	1240	72	,	,	PUNCT
ftr-309	1240	73	and	and	CCONJ
ftr-309	1240	74	j	j	NOUN
ftr-309	1240	75	,	,	PUNCT
ftr-309	1240	76	respectively	respectively	ADV
ftr-309	1240	77	.	.	PUNCT
ftr-309	1241	1	moreover	moreover	ADV
ftr-309	1241	2	,	,	PUNCT
ftr-309	1241	3	according	accord	VERB
ftr-309	1241	4	to	to	ADP
ftr-309	1241	5	the	the	DET
ftr-309	1241	6	s-1	s-1	NOUN
ftr-309	1241	7	,	,	PUNCT
ftr-309	1241	8	the	the	DET
ftr-309	1241	9	structure	structure	NOUN
ftr-309	1241	10	is	be	AUX
ftr-309	1241	11	designed	design	VERB
ftr-309	1241	12	so	so	SCONJ
ftr-309	1241	13	that	that	SCONJ
ftr-309	1241	14	income	income	NOUN
ftr-309	1241	15	received	receive	VERB
ftr-309	1241	16	by	by	ADP
ftr-309	1241	17	entities	entity	NOUN
ftr-309	1241	18	c	c	PROPN
ftr-309	1241	19	and	and	CCONJ
ftr-309	1241	20	d	d	PROPN
ftr-309	1241	21	will	will	AUX
ftr-309	1241	22	be	be	AUX
ftr-309	1241	23	qualifying	qualify	VERB
ftr-309	1241	24	income	income	NOUN
ftr-309	1241	25	.	.	PUNCT
ftr-309	1242	1	"	"	PUNCT
ftr-309	1242	2	'	'	PUNCT
ftr-309	1242	3	thus	thus	ADV
ftr-309	1242	4	,	,	PUNCT
ftr-309	1242	5	all	all	DET
ftr-309	1242	6	non	non	ADJ
ftr-309	1242	7	-	-	ADJ
ftr-309	1242	8	qualifying	qualifying	ADJ
ftr-309	1242	9	carried	carry	VERB
ftr-309	1242	10	interest	interest	NOUN
ftr-309	1242	11	and	and	CCONJ
ftr-309	1242	12	management	management	NOUN
ftr-309	1242	13	fees	fee	NOUN
ftr-309	1242	14	(	(	PUNCT
ftr-309	1242	15	which	which	PRON
ftr-309	1242	16	are	be	AUX
ftr-309	1242	17	non	non	ADJ
ftr-309	1242	18	-	-	ADJ
ftr-309	1242	19	qualifying	qualifying	ADJ
ftr-309	1242	20	)	)	PUNCT
ftr-309	1242	21	must	must	AUX
ftr-309	1242	22	be	be	AUX
ftr-309	1242	23	allocated	allocate	VERB
ftr-309	1242	24	or	or	CCONJ
ftr-309	1242	25	paid	pay	VERB
ftr-309	1242	26	indirectly	indirectly	ADV
ftr-309	1242	27	to	to	ADP
ftr-309	1242	28	entities	entity	NOUN
ftr-309	1242	29	a	a	DET
ftr-309	1242	30	,	,	PUNCT
ftr-309	1242	31	b	b	NOUN
ftr-309	1242	32	,	,	PUNCT
ftr-309	1242	33	or	or	CCONJ
ftr-309	1242	34	e.	e.	PROPN
ftr-309	1242	35	finally	finally	ADV
ftr-309	1242	36	,	,	PUNCT
ftr-309	1242	37	according	accord	VERB
ftr-309	1242	38	to	to	ADP
ftr-309	1242	39	the	the	DET
ftr-309	1242	40	s-1	s-1	NOUN
ftr-309	1242	41	,	,	PUNCT
ftr-309	1242	42	entity	entity	NOUN
ftr-309	1242	43	e	e	NOUN
ftr-309	1242	44	is	be	AUX
ftr-309	1242	45	not	not	PART
ftr-309	1242	46	expected	expect	VERB
ftr-309	1242	47	to	to	PART
ftr-309	1242	48	earn	earn	VERB
ftr-309	1242	49	any	any	DET
ftr-309	1242	50	income	income	NOUN
ftr-309	1242	51	that	that	PRON
ftr-309	1242	52	is	be	AUX
ftr-309	1242	53	effectively	effectively	ADV
ftr-309	1242	54	connected	connect	VERB
ftr-309	1242	55	with	with	ADP
ftr-309	1242	56	a	a	DET
ftr-309	1242	57	u.s	u.s	PROPN
ftr-309	1242	58	.	.	PROPN
ftr-309	1242	59	trade	trade	NOUN
ftr-309	1242	60	or	or	CCONJ
ftr-309	1242	61	business	business	NOUN
ftr-309	1242	62	.	.	PUNCT
ftr-309	1243	1	8	8	NUM
ftr-309	1243	2	6	6	NUM
ftr-309	1243	3	in	in	ADP
ftr-309	1243	4	turn	turn	NOUN
ftr-309	1243	5	,	,	PUNCT
ftr-309	1243	6	only	only	ADV
ftr-309	1243	7	non	non	ADJ
ftr-309	1243	8	-	-	ADJ
ftr-309	1243	9	qualifying	qualifying	ADJ
ftr-309	1243	10	carried	carry	VERB
ftr-309	1243	11	interest	interest	NOUN
ftr-309	1243	12	income	income	NOUN
ftr-309	1243	13	that	that	PRON
ftr-309	1243	14	is	be	AUX
ftr-309	1243	15	not	not	PART
ftr-309	1243	16	effectively	effectively	ADV
ftr-309	1243	17	connected	connect	VERB
ftr-309	1243	18	with	with	ADP
ftr-309	1243	19	a	a	DET
ftr-309	1243	20	u.s	u.s	PROPN
ftr-309	1243	21	.	.	PROPN
ftr-309	1243	22	trade	trade	NOUN
ftr-309	1243	23	or	or	CCONJ
ftr-309	1243	24	business	business	NOUN
ftr-309	1243	25	is	be	AUX
ftr-309	1243	26	allocated	allocate	VERB
ftr-309	1243	27	indirectly	indirectly	ADV
ftr-309	1243	28	to	to	ADP
ftr-309	1243	29	entity	entity	NOUN
ftr-309	1243	30	e.	e.	PROPN
ftr-309	1243	31	figure	figure	PROPN
ftr-309	1243	32	3	3	NUM
ftr-309	1243	33	below	below	ADV
ftr-309	1243	34	shows	show	VERB
ftr-309	1243	35	the	the	DET
ftr-309	1243	36	structure	structure	NOUN
ftr-309	1243	37	in	in	ADP
ftr-309	1243	38	figure	figure	NOUN
ftr-309	1243	39	2	2	NUM
ftr-309	1243	40	simplified	simplify	VERB
ftr-309	1243	41	to	to	PART
ftr-309	1243	42	take	take	VERB
ftr-309	1243	43	into	into	ADP
ftr-309	1243	44	account	account	NOUN
ftr-309	1243	45	the	the	DET
ftr-309	1243	46	discussion	discussion	NOUN
ftr-309	1243	47	in	in	ADP
ftr-309	1243	48	this	this	DET
ftr-309	1243	49	part	part	NOUN
ftr-309	1243	50	ii	ii	PROPN
ftr-309	1243	51	.	.	PUNCT
ftr-309	1244	1	184	184	NUM
ftr-309	1244	2	the	the	DET
ftr-309	1244	3	blackstone	blackstone	NOUN
ftr-309	1244	4	s-1	s-1	PROPN
ftr-309	1244	5	refers	refer	VERB
ftr-309	1244	6	to	to	ADP
ftr-309	1244	7	these	these	DET
ftr-309	1244	8	entities	entity	NOUN
ftr-309	1244	9	,	,	PUNCT
ftr-309	1244	10	collectively	collectively	ADV
ftr-309	1244	11	,	,	PUNCT
ftr-309	1244	12	as	as	ADP
ftr-309	1244	13	"	"	PUNCT
ftr-309	1244	14	blackstone	blackstone	NOUN
ftr-309	1244	15	holdings	holding	NOUN
ftr-309	1244	16	"	"	PUNCT
ftr-309	1244	17	and	and	CCONJ
ftr-309	1244	18	states	state	VERB
ftr-309	1244	19	that	that	SCONJ
ftr-309	1244	20	subsidiaries	subsidiary	NOUN
ftr-309	1244	21	of	of	ADP
ftr-309	1244	22	blackstone	blackstone	NOUN
ftr-309	1244	23	holdings	holding	NOUN
ftr-309	1244	24	will	will	AUX
ftr-309	1244	25	be	be	AUX
ftr-309	1244	26	entitled	entitle	VERB
ftr-309	1244	27	to	to	ADP
ftr-309	1244	28	management	management	NOUN
ftr-309	1244	29	fees	fee	NOUN
ftr-309	1244	30	and	and	CCONJ
ftr-309	1244	31	carried	carry	VERB
ftr-309	1244	32	interest	interest	NOUN
ftr-309	1244	33	.	.	PUNCT
ftr-309	1245	1	see	see	VERB
ftr-309	1245	2	blackstone	blackstone	PROPN
ftr-309	1245	3	s-1	s-1	PROPN
ftr-309	1245	4	,	,	PUNCT
ftr-309	1245	5	supra	supra	PROPN
ftr-309	1245	6	note	note	NOUN
ftr-309	1245	7	1	1	NUM
ftr-309	1245	8	,	,	PUNCT
ftr-309	1245	9	at	at	ADP
ftr-309	1245	10	10	10	NUM
ftr-309	1245	11	.	.	PUNCT
ftr-309	1245	12	185	185	NUM
ftr-309	1245	13	.	.	PUNCT
ftr-309	1246	1	i	i	PRON
ftr-309	1246	2	d.	d.	PROPN
ftr-309	1246	3	at	at	ADP
ftr-309	1246	4	203	203	NUM
ftr-309	1246	5	.	.	PUNCT
ftr-309	1246	6	186	186	NUM
ftr-309	1246	7	.	.	PUNCT
ftr-309	1247	1	i	i	PRON
ftr-309	1247	2	d.	d.	PROPN
ftr-309	1247	3	at	at	ADP
ftr-309	1247	4	204	204	NUM
ftr-309	1247	5	(	(	PUNCT
ftr-309	1247	6	"	"	PUNCT
ftr-309	1247	7	blackstone	blackstone	NOUN
ftr-309	1247	8	holdings	holding	NOUN
ftr-309	1247	9	v	v	X
ftr-309	1247	10	gp	gp	NOUN
ftr-309	1248	1	l.p	l.p	PROPN
ftr-309	1248	2	.	.	PROPN
ftr-309	1248	3	is	be	AUX
ftr-309	1248	4	expected	expect	VERB
ftr-309	1248	5	to	to	PART
ftr-309	1248	6	be	be	AUX
ftr-309	1248	7	operated	operate	VERB
ftr-309	1248	8	so	so	ADV
ftr-309	1248	9	as	as	SCONJ
ftr-309	1248	10	not	not	PART
ftr-309	1248	11	to	to	PART
ftr-309	1248	12	produce	produce	VERB
ftr-309	1248	13	[	[	X
ftr-309	1248	14	effectively	effectively	ADV
ftr-309	1248	15	connected	connected	ADJ
ftr-309	1248	16	income	income	NOUN
ftr-309	1248	17	]	]	PUNCT
ftr-309	1248	18	.	.	PUNCT
ftr-309	1248	19	"	"	PUNCT
ftr-309	1248	20	)	)	PUNCT
ftr-309	1248	21	.	.	PUNCT
ftr-309	1249	1	209	209	NUM
ftr-309	1250	1	i	i	PRON
ftr-309	1250	2	i	i	PRON
ftr-309	1250	3	'	'	VERB
ftr-309	1250	4	1	1	NUM
ftr-309	1250	5	?	?	PUNCT
ftr-309	1250	6	li	li	NOUN
ftr-309	1251	1	i	i	PRON
ftr-309	1251	2	igut	igut	VERB
ftr-309	1251	3	c	c	NOUN
ftr-309	1251	4	~	~	PUNCT
ftr-309	1251	5	blackslone	blackslone	NOUN
ftr-309	1251	6	st	st	NOUN
ftr-309	1251	7	~tatux	~tatux	PRON
ftr-309	1251	8	ft	ft	PART
ftr-309	1251	9	urn	urn	NOUN
ftr-309	1251	10	s	s	PART
ftr-309	1251	11	1	1	NUM
ftr-309	1251	12	iuth	iuth	ADJ
ftr-309	1251	13	simplili	simplili	NOUN
ftr-309	1251	14	tug	tug	NOUN
ftr-309	1251	15	~djuduie	~djuduie	PUNCT
ftr-309	1251	16	un	un	PROPN
ftr-309	1251	17	f2	f2	PROPN
ftr-309	1251	18	>	>	PROPN
ftr-309	1251	19	1	1	NUM
ftr-309	1251	20	7	7	NUM
ftr-309	1251	21	4	4	NUM
ftr-309	1251	22	.	.	PUNCT
ftr-309	1251	23	.	.	PUNCT
ftr-309	1252	1	......	......	PUNCT
ftr-309	1253	1	*	*	PUNCT
ftr-309	1253	2	qualitin	qualitin	PROPN
ftr-309	1253	3	ii	ii	PROPN
ftr-309	1253	4	i	i	PRON
ftr-309	1253	5	;	;	PUNCT
ftr-309	1254	1	_	_	PUNCT
ftr-309	1254	2	_	_	PUNCT
ftr-309	1255	1	i	i	PRON
ftr-309	1255	2	n.	n.	VERB
ftr-309	1255	3	0	0	NUM
ftr-309	1255	4	2013	2013	NUM
ftr-309	1255	5	]	]	PUNCT
ftr-309	1255	6	was	be	AUX
ftr-309	1255	7	blackstone	blackstone	NOUN
ftr-309	1255	8	's	's	PART
ftr-309	1255	9	initial	initial	ADJ
ftr-309	1255	10	public	public	ADJ
ftr-309	1255	11	offering	offering	NOUN
ftr-309	1255	12	too	too	ADV
ftr-309	1255	13	good	good	ADJ
ftr-309	1255	14	to	to	PART
ftr-309	1255	15	be	be	AUX
ftr-309	1255	16	true	true	ADJ
ftr-309	1255	17	?	?	PUNCT
ftr-309	1256	1	211	211	NUM
ftr-309	1256	2	iii	iii	NOUN
ftr-309	1256	3	.	.	PUNCT
ftr-309	1256	4	further	far	ADV
ftr-309	1256	5	simplifying	simplify	VERB
ftr-309	1256	6	adjustments	adjustment	NOUN
ftr-309	1256	7	as	as	SCONJ
ftr-309	1256	8	shown	show	VERB
ftr-309	1256	9	in	in	ADP
ftr-309	1256	10	figure	figure	NOUN
ftr-309	1256	11	3	3	NUM
ftr-309	1256	12	above	above	ADV
ftr-309	1256	13	,	,	PUNCT
ftr-309	1256	14	blackstone	blackstone	NOUN
ftr-309	1256	15	group	group	NOUN
ftr-309	1256	16	lp	lp	PROPN
ftr-309	1256	17	holds	hold	VERB
ftr-309	1256	18	interests	interest	NOUN
ftr-309	1256	19	in	in	ADP
ftr-309	1256	20	five	five	NUM
ftr-309	1256	21	subsidiaries	subsidiary	NOUN
ftr-309	1256	22	(	(	PUNCT
ftr-309	1256	23	labeled	label	VERB
ftr-309	1256	24	entity	entity	NOUN
ftr-309	1256	25	a	a	NOUN
ftr-309	1256	26	,	,	PUNCT
ftr-309	1256	27	entity	entity	NOUN
ftr-309	1256	28	b	b	NOUN
ftr-309	1256	29	,	,	PUNCT
ftr-309	1256	30	entity	entity	NOUN
ftr-309	1256	31	c	c	NOUN
ftr-309	1256	32	,	,	PUNCT
ftr-309	1256	33	entity	entity	NOUN
ftr-309	1256	34	d	d	NOUN
ftr-309	1256	35	,	,	PUNCT
ftr-309	1256	36	and	and	CCONJ
ftr-309	1256	37	entity	entity	NOUN
ftr-309	1256	38	e	e	NOUN
ftr-309	1256	39	above	above	ADV
ftr-309	1256	40	)	)	PUNCT
ftr-309	1256	41	.	.	PUNCT
ftr-309	1257	1	entities	entity	NOUN
ftr-309	1257	2	a	a	PRON
ftr-309	1257	3	and	and	CCONJ
ftr-309	1257	4	b	b	NOUN
ftr-309	1257	5	are	be	AUX
ftr-309	1257	6	u.s	u.s	PROPN
ftr-309	1257	7	.	.	PROPN
ftr-309	1257	8	entities	entity	NOUN
ftr-309	1257	9	treated	treat	VERB
ftr-309	1257	10	as	as	ADP
ftr-309	1257	11	corporations	corporation	NOUN
ftr-309	1257	12	for	for	ADP
ftr-309	1257	13	tax	tax	NOUN
ftr-309	1257	14	purposes	purpose	NOUN
ftr-309	1257	15	.	.	PUNCT
ftr-309	1258	1	from	from	ADP
ftr-309	1258	2	a	a	DET
ftr-309	1258	3	tax	tax	NOUN
ftr-309	1258	4	perspective	perspective	NOUN
ftr-309	1258	5	,	,	PUNCT
ftr-309	1258	6	the	the	DET
ftr-309	1258	7	results	result	NOUN
ftr-309	1258	8	of	of	ADP
ftr-309	1258	9	the	the	DET
ftr-309	1258	10	structure	structure	NOUN
ftr-309	1258	11	would	would	AUX
ftr-309	1258	12	be	be	AUX
ftr-309	1258	13	the	the	DET
ftr-309	1258	14	same	same	ADJ
ftr-309	1258	15	if	if	SCONJ
ftr-309	1258	16	entities	entity	NOUN
ftr-309	1258	17	a	a	PRON
ftr-309	1258	18	and	and	CCONJ
ftr-309	1258	19	b	b	NOUN
ftr-309	1258	20	were	be	AUX
ftr-309	1258	21	combined	combine	VERB
ftr-309	1258	22	into	into	ADP
ftr-309	1258	23	one	one	NUM
ftr-309	1258	24	corporation	corporation	NOUN
ftr-309	1258	25	.	.	PUNCT
ftr-309	1259	1	thus	thus	ADV
ftr-309	1259	2	,	,	PUNCT
ftr-309	1259	3	the	the	DET
ftr-309	1259	4	structure	structure	NOUN
ftr-309	1259	5	discussed	discuss	VERB
ftr-309	1259	6	in	in	ADP
ftr-309	1259	7	this	this	DET
ftr-309	1259	8	article	article	NOUN
ftr-309	1259	9	,	,	PUNCT
ftr-309	1259	10	and	and	CCONJ
ftr-309	1259	11	shown	show	VERB
ftr-309	1259	12	above	above	ADV
ftr-309	1259	13	in	in	ADP
ftr-309	1259	14	figure	figure	NOUN
ftr-309	1259	15	1	1	NUM
ftr-309	1259	16	,	,	PUNCT
ftr-309	1259	17	combines	combine	VERB
ftr-309	1259	18	entities	entity	NOUN
ftr-309	1259	19	a	a	PRON
ftr-309	1259	20	and	and	CCONJ
ftr-309	1259	21	b	b	NOUN
ftr-309	1259	22	into	into	ADP
ftr-309	1259	23	one	one	NUM
ftr-309	1259	24	entity	entity	NOUN
ftr-309	1259	25	(	(	PUNCT
ftr-309	1259	26	"	"	PUNCT
ftr-309	1259	27	u.s	u.s	PROPN
ftr-309	1259	28	.	.	PROPN
ftr-309	1259	29	subsidiary	subsidiary	NOUN
ftr-309	1259	30	"	"	PUNCT
ftr-309	1259	31	)	)	PUNCT
ftr-309	1259	32	.	.	PUNCT
ftr-309	1260	1	entity	entity	NOUN
ftr-309	1260	2	e	e	PROPN
ftr-309	1260	3	is	be	AUX
ftr-309	1260	4	a	a	DET
ftr-309	1260	5	non	non	ADJ
ftr-309	1260	6	-	-	ADJ
ftr-309	1260	7	u.s	u.s	ADJ
ftr-309	1260	8	.	.	PROPN
ftr-309	1260	9	entity	entity	NOUN
ftr-309	1260	10	treated	treat	VERB
ftr-309	1260	11	as	as	ADP
ftr-309	1260	12	a	a	DET
ftr-309	1260	13	corporation	corporation	NOUN
ftr-309	1260	14	for	for	ADP
ftr-309	1260	15	tax	tax	NOUN
ftr-309	1260	16	purposes	purpose	NOUN
ftr-309	1260	17	.	.	PUNCT
ftr-309	1261	1	in	in	ADP
ftr-309	1261	2	the	the	DET
ftr-309	1261	3	structure	structure	NOUN
ftr-309	1261	4	discussed	discuss	VERB
ftr-309	1261	5	in	in	ADP
ftr-309	1261	6	this	this	DET
ftr-309	1261	7	article	article	NOUN
ftr-309	1261	8	,	,	PUNCT
ftr-309	1261	9	and	and	CCONJ
ftr-309	1261	10	shown	show	VERB
ftr-309	1261	11	in	in	ADP
ftr-309	1261	12	figure	figure	NOUN
ftr-309	1261	13	1	1	NUM
ftr-309	1261	14	,	,	PUNCT
ftr-309	1261	15	entity	entity	NOUN
ftr-309	1261	16	e	e	NOUN
ftr-309	1261	17	is	be	AUX
ftr-309	1261	18	labeled	label	VERB
ftr-309	1261	19	"	"	PUNCT
ftr-309	1261	20	non	non	ADJ
ftr-309	1261	21	-	-	ADJ
ftr-309	1261	22	u.s	u.s	PROPN
ftr-309	1261	23	.	.	PROPN
ftr-309	1261	24	subsidiary	subsidiary	NOUN
ftr-309	1261	25	.	.	PUNCT
ftr-309	1261	26	"	"	PUNCT
ftr-309	1262	1	entities	entity	NOUN
ftr-309	1262	2	c	c	PROPN
ftr-309	1262	3	and	and	CCONJ
ftr-309	1262	4	d	d	PROPN
ftr-309	1262	5	are	be	AUX
ftr-309	1262	6	treated	treat	VERB
ftr-309	1262	7	as	as	ADP
ftr-309	1262	8	partnerships	partnership	NOUN
ftr-309	1262	9	for	for	ADP
ftr-309	1262	10	tax	tax	NOUN
ftr-309	1262	11	purposes	purpose	NOUN
ftr-309	1262	12	.	.	PUNCT
ftr-309	1263	1	because	because	SCONJ
ftr-309	1263	2	partnerships	partnership	NOUN
ftr-309	1263	3	are	be	AUX
ftr-309	1263	4	pass	pass	NOUN
ftr-309	1263	5	-	-	PUNCT
ftr-309	1263	6	through	through	ADP
ftr-309	1263	7	entities	entity	NOUN
ftr-309	1263	8	for	for	ADP
ftr-309	1263	9	tax	tax	NOUN
ftr-309	1263	10	purposes	purpose	NOUN
ftr-309	1263	11	,	,	PUNCT
ftr-309	1263	12	from	from	ADP
ftr-309	1263	13	a	a	DET
ftr-309	1263	14	tax	tax	NOUN
ftr-309	1263	15	perspective	perspective	NOUN
ftr-309	1263	16	,	,	PUNCT
ftr-309	1263	17	the	the	DET
ftr-309	1263	18	results	result	NOUN
ftr-309	1263	19	of	of	ADP
ftr-309	1263	20	the	the	DET
ftr-309	1263	21	structure	structure	NOUN
ftr-309	1263	22	would	would	AUX
ftr-309	1263	23	be	be	AUX
ftr-309	1263	24	the	the	DET
ftr-309	1263	25	same	same	ADJ
ftr-309	1263	26	if	if	SCONJ
ftr-309	1263	27	blackstone	blackstone	NOUN
ftr-309	1263	28	group	group	NOUN
ftr-309	1263	29	lp	lp	PROPN
ftr-309	1263	30	directly	directly	ADV
ftr-309	1263	31	owned	own	VERB
ftr-309	1263	32	and	and	CCONJ
ftr-309	1263	33	received	receive	VERB
ftr-309	1263	34	what	what	PRON
ftr-309	1263	35	it	it	PRON
ftr-309	1263	36	owns	own	VERB
ftr-309	1263	37	and	and	CCONJ
ftr-309	1263	38	receives	receive	VERB
ftr-309	1263	39	indirectly	indirectly	ADV
ftr-309	1263	40	through	through	ADP
ftr-309	1263	41	entities	entity	NOUN
ftr-309	1263	42	c	c	PROPN
ftr-309	1263	43	and	and	CCONJ
ftr-309	1263	44	d.	d.	PROPN
ftr-309	1263	45	figure	figure	NOUN
ftr-309	1263	46	4	4	NUM
ftr-309	1263	47	below	below	ADV
ftr-309	1263	48	shows	show	VERB
ftr-309	1263	49	the	the	DET
ftr-309	1263	50	structure	structure	NOUN
ftr-309	1263	51	in	in	ADP
ftr-309	1263	52	figure	figure	NOUN
ftr-309	1263	53	3	3	NUM
ftr-309	1263	54	simplified	simplify	VERB
ftr-309	1263	55	to	to	PART
ftr-309	1263	56	take	take	VERB
ftr-309	1263	57	into	into	ADP
ftr-309	1263	58	account	account	NOUN
ftr-309	1263	59	the	the	DET
ftr-309	1263	60	discussion	discussion	NOUN
ftr-309	1263	61	in	in	ADP
ftr-309	1263	62	this	this	DET
ftr-309	1263	63	part	part	NOUN
ftr-309	1263	64	iii	iii	NOUN
ftr-309	1263	65	.	.	PROPN
ftr-309	1263	66	1	1	NUM
ftr-309	1264	1	i	i	NOUN
ftr-309	1264	2	f	f	PROPN
ftr-309	1264	3	gunre	gunre	VERB
ftr-309	1264	4	4i	4i	NUM
ftr-309	1264	5	.	.	PUNCT
ftr-309	1265	1	b	b	NOUN
ftr-309	1265	2	ackstone	ackstone	NOUN
ftr-309	1265	3	structure	structure	NOUN
ftr-309	1265	4	f	f	PROPN
ftr-309	1265	5	rm	rm	PROPN
ftr-309	1265	6	s	s	PROPN
ftr-309	1265	7	w	w	NOUN
ftr-309	1265	8	~ith	~ith	ADP
ftr-309	1265	9	f	f	PROPN
ftr-309	1265	10	urthe	urthe	DET
ftr-309	1265	11	simifyu\;ig	simifyu\;ig	PROPN
ftr-309	1265	12	adjustmnents	adjustmnent	NOUN
ftr-309	1265	13	t	t	PROPN
ftr-309	1265	14	management	management	NOUN
ftr-309	1265	15	fee	fee	NOUN
ftr-309	1265	16	&	&	CCONJ
ftr-309	1265	17	non	non	PROPN
ftr-309	1266	1	quaifing	quaife	VERB
ftr-309	1266	2	(	(	PUNCT
ftr-309	1266	3	t	t	X
ftr-309	1266	4	i	i	PRON
ftr-309	1266	5	lv	lv	PROPN
ftr-309	1266	6	i	i	PRON
ftr-309	1266	7	&	&	CCONJ
ftr-309	1266	8	lit	light	VERB
ftr-309	1266	9	b	b	PROPN
ftr-309	1266	10	carne	carne	NOUN
ftr-309	1266	11	intre	intre	PROPN
ftr-309	1266	12	tht1	tht1	PROPN
ftr-309	1266	13	s	s	PART
ftr-309	1266	14	o	o	NOUN
ftr-309	1266	15	effctied	effctie	VERB
ftr-309	1267	1	cnted	cnte	VERB
ftr-309	1267	2	w	w	ADP
ftr-309	1267	3	i	i	PRON
ftr-309	1267	4	i	i	PROPN
ftr-309	1267	5	l-.2013	l-.2013	PROPN
ftr-309	1267	6	]	]	X
ftr-309	1267	7	was	be	AUX
ftr-309	1267	8	blackstone	blackstone	NOUN
ftr-309	1267	9	's	's	PART
ftr-309	1267	10	initial	initial	ADJ
ftr-309	1267	11	public	public	ADJ
ftr-309	1267	12	offering	offering	NOUN
ftr-309	1267	13	too	too	ADV
ftr-309	1267	14	good	good	ADJ
ftr-309	1267	15	to	to	PART
ftr-309	1267	16	be	be	AUX
ftr-309	1267	17	true	true	ADJ
ftr-309	1267	18	?	?	PUNCT
ftr-309	1268	1	iv	iv	X
ftr-309	1268	2	.	.	PUNCT
ftr-309	1269	1	how	how	SCONJ
ftr-309	1269	2	income	income	NOUN
ftr-309	1269	3	reaches	reach	VERB
ftr-309	1269	4	the	the	DET
ftr-309	1269	5	various	various	ADJ
ftr-309	1269	6	entities	entity	NOUN
ftr-309	1269	7	according	accord	VERB
ftr-309	1269	8	to	to	ADP
ftr-309	1269	9	the	the	DET
ftr-309	1269	10	blackstone	blackstone	NOUN
ftr-309	1269	11	s-1	s-1	PROPN
ftr-309	1269	12	,	,	PUNCT
ftr-309	1269	13	prior	prior	ADV
ftr-309	1269	14	to	to	ADP
ftr-309	1269	15	the	the	DET
ftr-309	1269	16	initial	initial	ADJ
ftr-309	1269	17	public	public	ADJ
ftr-309	1269	18	offering	offering	NOUN
ftr-309	1269	19	,	,	PUNCT
ftr-309	1269	20	various	various	ADJ
ftr-309	1269	21	entities	entity	NOUN
ftr-309	1269	22	(	(	PUNCT
ftr-309	1269	23	"	"	PUNCT
ftr-309	1269	24	contributed	contribute	VERB
ftr-309	1269	25	businesses	business	NOUN
ftr-309	1269	26	"	"	PUNCT
ftr-309	1269	27	)	)	PUNCT
ftr-309	1269	28	were	be	AUX
ftr-309	1269	29	entitled	entitle	VERB
ftr-309	1269	30	to	to	PART
ftr-309	1269	31	receive	receive	VERB
ftr-309	1269	32	management	management	NOUN
ftr-309	1269	33	fees	fee	NOUN
ftr-309	1269	34	and	and	CCONJ
ftr-309	1269	35	carried	carry	VERB
ftr-309	1269	36	interest	interest	NOUN
ftr-309	1269	37	from	from	ADP
ftr-309	1269	38	blackstone	blackstone	NOUN
ftr-309	1269	39	funds.187	funds.187	PROPN
ftr-309	1269	40	in	in	ADP
ftr-309	1269	41	particular	particular	ADJ
ftr-309	1269	42	,	,	PUNCT
ftr-309	1269	43	with	with	ADP
ftr-309	1269	44	respect	respect	NOUN
ftr-309	1269	45	to	to	ADP
ftr-309	1269	46	each	each	DET
ftr-309	1269	47	fund	fund	NOUN
ftr-309	1269	48	,	,	PUNCT
ftr-309	1269	49	an	an	DET
ftr-309	1269	50	investment	investment	NOUN
ftr-309	1269	51	advisor	advisor	NOUN
ftr-309	1269	52	was	be	AUX
ftr-309	1269	53	entitled	entitle	VERB
ftr-309	1269	54	to	to	PART
ftr-309	1269	55	receive	receive	VERB
ftr-309	1269	56	management	management	NOUN
ftr-309	1269	57	fees	fee	NOUN
ftr-309	1269	58	,	,	PUNCT
ftr-309	1269	59	and	and	CCONJ
ftr-309	1269	60	a	a	DET
ftr-309	1269	61	managing	manage	VERB
ftr-309	1269	62	member	member	NOUN
ftr-309	1269	63	was	be	AUX
ftr-309	1269	64	entitled	entitle	VERB
ftr-309	1269	65	to	to	PART
ftr-309	1269	66	carried	carry	VERB
ftr-309	1269	67	interest	interest	NOUN
ftr-309	1269	68	.	.	PUNCT
ftr-309	1270	1	following	follow	VERB
ftr-309	1270	2	the	the	DET
ftr-309	1270	3	restructuring	restructuring	NOUN
ftr-309	1270	4	undertaken	undertake	VERB
ftr-309	1270	5	prior	prior	ADV
ftr-309	1270	6	to	to	ADP
ftr-309	1270	7	the	the	DET
ftr-309	1270	8	initial	initial	ADJ
ftr-309	1270	9	public	public	ADJ
ftr-309	1270	10	offering	offering	NOUN
ftr-309	1270	11	,	,	PUNCT
ftr-309	1270	12	the	the	DET
ftr-309	1270	13	contributed	contribute	VERB
ftr-309	1270	14	businesses	business	NOUN
ftr-309	1270	15	have	have	AUX
ftr-309	1270	16	been	be	AUX
ftr-309	1270	17	owned	own	VERB
ftr-309	1270	18	by	by	ADP
ftr-309	1270	19	subsidiaries	subsidiary	NOUN
ftr-309	1270	20	of	of	ADP
ftr-309	1270	21	u.s	u.s	PROPN
ftr-309	1270	22	.	.	PROPN
ftr-309	1270	23	subsidiary	subsidiary	PROPN
ftr-309	1270	24	,	,	PUNCT
ftr-309	1270	25	blackstone	blackstone	NOUN
ftr-309	1270	26	group	group	PROPN
ftr-309	1270	27	lp	lp	PROPN
ftr-309	1270	28	,	,	PUNCT
ftr-309	1270	29	and	and	CCONJ
ftr-309	1270	30	non	non	ADJ
ftr-309	1270	31	-	-	ADJ
ftr-309	1270	32	u.s	u.s	PROPN
ftr-309	1270	33	.	.	PROPN
ftr-309	1270	34	subsidiary	subsidiary	NOUN
ftr-309	1270	35	.	.	PUNCT
ftr-309	1271	1	furthermore	furthermore	ADV
ftr-309	1271	2	,	,	PUNCT
ftr-309	1271	3	because	because	SCONJ
ftr-309	1271	4	the	the	DET
ftr-309	1271	5	subsidiaries	subsidiary	NOUN
ftr-309	1271	6	that	that	PRON
ftr-309	1271	7	own	own	VERB
ftr-309	1271	8	the	the	DET
ftr-309	1271	9	contributed	contribute	VERB
ftr-309	1271	10	businesses	business	NOUN
ftr-309	1271	11	are	be	AUX
ftr-309	1271	12	pass	pass	NOUN
ftr-309	1271	13	-	-	PUNCT
ftr-309	1271	14	through	through	ADP
ftr-309	1271	15	entities	entity	NOUN
ftr-309	1271	16	for	for	ADP
ftr-309	1271	17	tax	tax	NOUN
ftr-309	1271	18	purposes	purpose	NOUN
ftr-309	1271	19	,	,	PUNCT
ftr-309	1271	20	from	from	ADP
ftr-309	1271	21	a	a	DET
ftr-309	1271	22	tax	tax	NOUN
ftr-309	1271	23	perspective	perspective	NOUN
ftr-309	1271	24	,	,	PUNCT
ftr-309	1271	25	the	the	DET
ftr-309	1271	26	results	result	NOUN
ftr-309	1271	27	of	of	ADP
ftr-309	1271	28	the	the	DET
ftr-309	1271	29	structure	structure	NOUN
ftr-309	1271	30	would	would	AUX
ftr-309	1271	31	be	be	AUX
ftr-309	1271	32	the	the	DET
ftr-309	1271	33	same	same	ADJ
ftr-309	1271	34	as	as	SCONJ
ftr-309	1271	35	if	if	SCONJ
ftr-309	1271	36	blackstone	blackstone	PROPN
ftr-309	1271	37	group	group	PROPN
ftr-309	1271	38	lp	lp	PROPN
ftr-309	1271	39	,	,	PUNCT
ftr-309	1271	40	u.s	u.s	PROPN
ftr-309	1271	41	.	.	PROPN
ftr-309	1271	42	subsidiary	subsidiary	NOUN
ftr-309	1271	43	,	,	PUNCT
ftr-309	1271	44	and	and	CCONJ
ftr-309	1271	45	non	non	ADJ
ftr-309	1271	46	-	-	ADJ
ftr-309	1271	47	u.s	u.s	PROPN
ftr-309	1271	48	.	.	PROPN
ftr-309	1271	49	subsidiary	subsidiary	NOUN
ftr-309	1271	50	owned	own	VERB
ftr-309	1271	51	the	the	DET
ftr-309	1271	52	contributed	contribute	VERB
ftr-309	1271	53	businesses	business	NOUN
ftr-309	1271	54	directly	directly	ADV
ftr-309	1271	55	.	.	PUNCT
ftr-309	1272	1	given	give	VERB
ftr-309	1272	2	the	the	DET
ftr-309	1272	3	information	information	NOUN
ftr-309	1272	4	provided	provide	VERB
ftr-309	1272	5	in	in	ADP
ftr-309	1272	6	the	the	DET
ftr-309	1272	7	blackstone	blackstone	NOUN
ftr-309	1272	8	s-1	s-1	NOUN
ftr-309	1272	9	and	and	CCONJ
ftr-309	1272	10	discussed	discuss	VERB
ftr-309	1272	11	in	in	ADP
ftr-309	1272	12	this	this	DET
ftr-309	1272	13	appendix	appendix	NOUN
ftr-309	1272	14	,	,	PUNCT
ftr-309	1272	15	there	there	PRON
ftr-309	1272	16	are	be	VERB
ftr-309	1272	17	three	three	NUM
ftr-309	1272	18	ways	way	NOUN
ftr-309	1272	19	that	that	PRON
ftr-309	1272	20	blackstone	blackstone	NOUN
ftr-309	1272	21	group	group	NOUN
ftr-309	1272	22	lp	lp	PROPN
ftr-309	1272	23	and	and	CCONJ
ftr-309	1272	24	its	its	PRON
ftr-309	1272	25	subsidiaries	subsidiary	NOUN
ftr-309	1272	26	might	might	AUX
ftr-309	1272	27	earn	earn	VERB
ftr-309	1272	28	income	income	NOUN
ftr-309	1272	29	from	from	ADP
ftr-309	1272	30	the	the	DET
ftr-309	1272	31	contributed	contribute	VERB
ftr-309	1272	32	businesses	business	NOUN
ftr-309	1272	33	so	so	SCONJ
ftr-309	1272	34	as	as	SCONJ
ftr-309	1272	35	to	to	PART
ftr-309	1272	36	ensure	ensure	VERB
ftr-309	1272	37	that	that	SCONJ
ftr-309	1272	38	blackstone	blackstone	NOUN
ftr-309	1272	39	group	group	NOUN
ftr-309	1272	40	lp	lp	PROPN
ftr-309	1272	41	qualifies	qualify	VERB
ftr-309	1272	42	for	for	ADP
ftr-309	1272	43	the	the	DET
ftr-309	1272	44	90	90	NUM
ftr-309	1272	45	percent	percent	NOUN
ftr-309	1272	46	gross	gross	ADJ
ftr-309	1272	47	income	income	NOUN
ftr-309	1272	48	exception	exception	NOUN
ftr-309	1272	49	.	.	PUNCT
ftr-309	1273	1	the	the	DET
ftr-309	1273	2	three	three	NUM
ftr-309	1273	3	possible	possible	ADJ
ftr-309	1273	4	structures	structure	NOUN
ftr-309	1273	5	are	be	AUX
ftr-309	1273	6	discussed	discuss	VERB
ftr-309	1273	7	below	below	ADV
ftr-309	1273	8	.	.	PUNCT
ftr-309	1274	1	a.	a.	NOUN
ftr-309	1274	2	possibility	possibility	NOUN
ftr-309	1274	3	one	one	NUM
ftr-309	1274	4	the	the	DET
ftr-309	1274	5	first	first	ADJ
ftr-309	1274	6	possible	possible	ADJ
ftr-309	1274	7	structure	structure	NOUN
ftr-309	1274	8	is	be	AUX
ftr-309	1274	9	shown	show	VERB
ftr-309	1274	10	in	in	ADP
ftr-309	1274	11	figure	figure	NOUN
ftr-309	1274	12	5	5	NUM
ftr-309	1274	13	below	below	ADV
ftr-309	1274	14	.	.	PUNCT
ftr-309	1275	1	as	as	SCONJ
ftr-309	1275	2	figure	figure	NOUN
ftr-309	1275	3	5	5	NUM
ftr-309	1275	4	shows	show	NOUN
ftr-309	1275	5	,	,	PUNCT
ftr-309	1275	6	each	each	DET
ftr-309	1275	7	fund	fund	NOUN
ftr-309	1275	8	(	(	PUNCT
ftr-309	1275	9	"	"	PUNCT
ftr-309	1275	10	underlying	underlying	ADJ
ftr-309	1275	11	fund	fund	NOUN
ftr-309	1275	12	"	"	PUNCT
ftr-309	1275	13	)	)	PUNCT
ftr-309	1275	14	sponsored	sponsor	VERB
ftr-309	1275	15	by	by	ADP
ftr-309	1275	16	the	the	DET
ftr-309	1275	17	blackstone	blackstone	NOUN
ftr-309	1275	18	firm	firm	NOUN
ftr-309	1275	19	pays	pay	VERB
ftr-309	1275	20	management	management	NOUN
ftr-309	1275	21	fees	fee	NOUN
ftr-309	1275	22	to	to	ADP
ftr-309	1275	23	an	an	DET
ftr-309	1275	24	investment	investment	NOUN
ftr-309	1275	25	advisor	advisor	NOUN
ftr-309	1275	26	that	that	PRON
ftr-309	1275	27	is	be	AUX
ftr-309	1275	28	owned	own	VERB
ftr-309	1275	29	by	by	ADP
ftr-309	1275	30	u.s	u.s	PROPN
ftr-309	1275	31	.	.	PROPN
ftr-309	1275	32	subsidiary	subsidiary	NOUN
ftr-309	1275	33	.	.	PUNCT
ftr-309	1276	1	each	each	DET
ftr-309	1276	2	underlying	underlie	VERB
ftr-309	1276	3	fund	fund	NOUN
ftr-309	1276	4	also	also	ADV
ftr-309	1276	5	allocates	allocate	VERB
ftr-309	1276	6	carried	carry	VERB
ftr-309	1276	7	interest	interest	NOUN
ftr-309	1276	8	to	to	ADP
ftr-309	1276	9	a	a	DET
ftr-309	1276	10	managing	manage	VERB
ftr-309	1276	11	member	member	NOUN
ftr-309	1276	12	.	.	PUNCT
ftr-309	1277	1	the	the	DET
ftr-309	1277	2	managing	manage	VERB
ftr-309	1277	3	member	member	NOUN
ftr-309	1277	4	,	,	PUNCT
ftr-309	1277	5	in	in	ADP
ftr-309	1277	6	turn	turn	NOUN
ftr-309	1277	7	,	,	PUNCT
ftr-309	1277	8	allocates	allocate	VERB
ftr-309	1277	9	some	some	DET
ftr-309	1277	10	carried	carried	ADJ
ftr-309	1277	11	interest	interest	NOUN
ftr-309	1277	12	(	(	PUNCT
ftr-309	1277	13	in	in	ADP
ftr-309	1277	14	particular	particular	ADJ
ftr-309	1277	15	,	,	PUNCT
ftr-309	1277	16	carried	carry	VERB
ftr-309	1277	17	interest	interest	NOUN
ftr-309	1277	18	that	that	PRON
ftr-309	1277	19	is	be	AUX
ftr-309	1277	20	qualifying	qualify	VERB
ftr-309	1277	21	income	income	NOUN
ftr-309	1277	22	)	)	PUNCT
ftr-309	1277	23	directly	directly	ADV
ftr-309	1277	24	to	to	ADP
ftr-309	1277	25	blackstone	blackstone	PROPN
ftr-309	1277	26	group	group	PROPN
ftr-309	1277	27	lp	lp	PROPN
ftr-309	1277	28	,	,	PUNCT
ftr-309	1277	29	allocates	allocate	VERB
ftr-309	1277	30	some	some	DET
ftr-309	1277	31	carried	carried	ADJ
ftr-309	1277	32	interest	interest	NOUN
ftr-309	1277	33	(	(	PUNCT
ftr-309	1277	34	in	in	ADP
ftr-309	1277	35	particular	particular	ADJ
ftr-309	1277	36	,	,	PUNCT
ftr-309	1277	37	nonqualifying	nonqualifying	NOUN
ftr-309	1277	38	carried	carry	VERB
ftr-309	1277	39	interest	interest	NOUN
ftr-309	1277	40	that	that	PRON
ftr-309	1277	41	is	be	AUX
ftr-309	1277	42	u.s	u.s	PROPN
ftr-309	1277	43	.	.	PROPN
ftr-309	1277	44	source	source	NOUN
ftr-309	1277	45	income	income	NOUN
ftr-309	1277	46	or	or	CCONJ
ftr-309	1277	47	is	be	AUX
ftr-309	1277	48	effectively	effectively	ADV
ftr-309	1277	49	connected	connect	VERB
ftr-309	1277	50	with	with	ADP
ftr-309	1277	51	a	a	DET
ftr-309	1277	52	u.s	u.s	PROPN
ftr-309	1277	53	.	.	PROPN
ftr-309	1277	54	trade	trade	NOUN
ftr-309	1277	55	or	or	CCONJ
ftr-309	1277	56	business	business	NOUN
ftr-309	1277	57	)	)	PUNCT
ftr-309	1277	58	to	to	ADP
ftr-309	1277	59	u.s	u.s	PROPN
ftr-309	1277	60	.	.	PROPN
ftr-309	1277	61	subsidiary	subsidiary	NOUN
ftr-309	1277	62	,	,	PUNCT
ftr-309	1277	63	and	and	CCONJ
ftr-309	1277	64	allocates	allocate	VERB
ftr-309	1277	65	some	some	DET
ftr-309	1277	66	carried	carried	ADJ
ftr-309	1277	67	interest	interest	NOUN
ftr-309	1277	68	(	(	PUNCT
ftr-309	1277	69	in	in	ADP
ftr-309	1277	70	particular	particular	ADJ
ftr-309	1277	71	,	,	PUNCT
ftr-309	1277	72	non	non	ADJ
ftr-309	1277	73	-	-	ADJ
ftr-309	1277	74	qualifying	qualifying	ADJ
ftr-309	1277	75	carried	carry	VERB
ftr-309	1277	76	interest	interest	NOUN
ftr-309	1277	77	that	that	PRON
ftr-309	1277	78	is	be	AUX
ftr-309	1277	79	not	not	PART
ftr-309	1277	80	u.s	u.s	PROPN
ftr-309	1277	81	.	.	PROPN
ftr-309	1277	82	source	source	NOUN
ftr-309	1277	83	income	income	NOUN
ftr-309	1277	84	and	and	CCONJ
ftr-309	1277	85	is	be	AUX
ftr-309	1277	86	not	not	PART
ftr-309	1277	87	effectively	effectively	ADV
ftr-309	1277	88	connected	connect	VERB
ftr-309	1277	89	with	with	ADP
ftr-309	1277	90	a	a	DET
ftr-309	1277	91	u.s	u.s	PROPN
ftr-309	1277	92	.	.	PROPN
ftr-309	1277	93	trade	trade	NOUN
ftr-309	1277	94	or	or	CCONJ
ftr-309	1277	95	business	business	NOUN
ftr-309	1277	96	)	)	PUNCT
ftr-309	1277	97	to	to	ADP
ftr-309	1277	98	non	non	ADJ
ftr-309	1277	99	-	-	ADJ
ftr-309	1277	100	u.s	u.s	PROPN
ftr-309	1277	101	.	.	PROPN
ftr-309	1277	102	subsidiary	subsidiary	NOUN
ftr-309	1277	103	.	.	PUNCT
ftr-309	1278	1	this	this	DET
ftr-309	1278	2	structure	structure	NOUN
ftr-309	1278	3	is	be	AUX
ftr-309	1278	4	similar	similar	ADJ
ftr-309	1278	5	to	to	PART
ftr-309	1278	6	figure	figure	VERB
ftr-309	1278	7	1	1	NUM
ftr-309	1278	8	because	because	SCONJ
ftr-309	1278	9	the	the	DET
ftr-309	1278	10	underlying	underlie	VERB
ftr-309	1278	11	fund	fund	NOUN
ftr-309	1278	12	pays	pay	VERB
ftr-309	1278	13	management	management	NOUN
ftr-309	1278	14	fees	fee	NOUN
ftr-309	1278	15	,	,	PUNCT
ftr-309	1278	16	indirectly	indirectly	ADV
ftr-309	1278	17	,	,	PUNCT
ftr-309	1278	18	to	to	ADP
ftr-309	1278	19	u.s	u.s	PROPN
ftr-309	1278	20	.	.	PROPN
ftr-309	1278	21	subsidiary	subsidiary	NOUN
ftr-309	1278	22	,	,	PUNCT
ftr-309	1278	23	and	and	CCONJ
ftr-309	1278	24	the	the	DET
ftr-309	1278	25	underlying	underlying	ADJ
ftr-309	1278	26	fund	fund	NOUN
ftr-309	1278	27	,	,	PUNCT
ftr-309	1278	28	indirectly	indirectly	ADV
ftr-309	1278	29	,	,	PUNCT
ftr-309	1278	30	allocates	allocate	VERB
ftr-309	1278	31	some	some	DET
ftr-309	1278	32	carried	carry	VERB
ftr-309	1278	33	interest	interest	NOUN
ftr-309	1278	34	to	to	ADP
ftr-309	1278	35	each	each	PRON
ftr-309	1278	36	of	of	ADP
ftr-309	1278	37	blackstone	blackstone	PROPN
ftr-309	1278	38	group	group	PROPN
ftr-309	1278	39	lp	lp	PROPN
ftr-309	1278	40	,	,	PUNCT
ftr-309	1278	41	u.s	u.s	PROPN
ftr-309	1278	42	.	.	PROPN
ftr-309	1278	43	subsidiary	subsidiary	NOUN
ftr-309	1278	44	,	,	PUNCT
ftr-309	1278	45	and	and	CCONJ
ftr-309	1278	46	non	non	ADJ
ftr-309	1278	47	-	-	ADJ
ftr-309	1278	48	u.s	u.s	PROPN
ftr-309	1278	49	.	.	PROPN
ftr-309	1278	50	subsidiary	subsidiary	NOUN
ftr-309	1278	51	.	.	PUNCT
ftr-309	1279	1	if	if	SCONJ
ftr-309	1279	2	blackstone	blackstone	NOUN
ftr-309	1279	3	group	group	PROPN
ftr-309	1279	4	lp	lp	PROPN
ftr-309	1279	5	uses	use	VERB
ftr-309	1279	6	this	this	DET
ftr-309	1279	7	structure	structure	NOUN
ftr-309	1279	8	,	,	PUNCT
ftr-309	1279	9	the	the	DET
ftr-309	1279	10	irs	irs	PROPN
ftr-309	1279	11	could	could	AUX
ftr-309	1279	12	invoke	invoke	VERB
ftr-309	1279	13	section	section	NOUN
ftr-309	1279	14	482	482	NUM
ftr-309	1279	15	to	to	PART
ftr-309	1279	16	challenge	challenge	VERB
ftr-309	1279	17	the	the	DET
ftr-309	1279	18	income	income	NOUN
ftr-309	1279	19	187	187	NUM
ftr-309	1279	20	.	.	PUNCT
ftr-309	1280	1	i	i	PRON
ftr-309	1280	2	d.	d.	PROPN
ftr-309	1280	3	at	at	ADP
ftr-309	1280	4	57	57	NUM
ftr-309	1280	5	.	.	PUNCT
ftr-309	1281	1	188	188	NUM
ftr-309	1281	2	.	.	PUNCT
ftr-309	1282	1	blackstone	blackstone	NOUN
ftr-309	1282	2	s-1	s-1	PROPN
ftr-309	1282	3	,	,	PUNCT
ftr-309	1282	4	supra	supra	PROPN
ftr-309	1282	5	note	note	NOUN
ftr-309	1282	6	1	1	NUM
ftr-309	1282	7	,	,	PUNCT
ftr-309	1282	8	at	at	ADP
ftr-309	1282	9	57	57	NUM
ftr-309	1282	10	.	.	PUNCT
ftr-309	1282	11	189	189	NUM
ftr-309	1282	12	.	.	PUNCT
ftr-309	1283	1	i	i	PRON
ftr-309	1283	2	d.	d.	PROPN
ftr-309	1283	3	213	213	NUM
ftr-309	1283	4	214	214	NUM
ftr-309	1283	5	florida	florida	PROPN
ftr-309	1283	6	tax	tax	NOUN
ftr-309	1283	7	review	review	NOUN
ftr-309	1284	1	[	[	X
ftr-309	1284	2	vol	vol	NOUN
ftr-309	1284	3	.	.	PUNCT
ftr-309	1284	4	14:5	14:5	NUM
ftr-309	1284	5	allocations	allocation	NOUN
ftr-309	1284	6	by	by	ADP
ftr-309	1284	7	the	the	DET
ftr-309	1284	8	managing	manage	VERB
ftr-309	1284	9	member	member	NOUN
ftr-309	1284	10	of	of	ADP
ftr-309	1284	11	each	each	DET
ftr-309	1284	12	underlying	underlie	VERB
ftr-309	1284	13	fund	fund	NOUN
ftr-309	1284	14	and	and	CCONJ
ftr-309	1284	15	the	the	DET
ftr-309	1284	16	payment	payment	NOUN
ftr-309	1284	17	of	of	ADP
ftr-309	1284	18	management	management	NOUN
ftr-309	1284	19	fees	fee	NOUN
ftr-309	1284	20	entirely	entirely	ADV
ftr-309	1284	21	to	to	ADP
ftr-309	1284	22	the	the	DET
ftr-309	1284	23	investment	investment	NOUN
ftr-309	1284	24	advisor	advisor	NOUN
ftr-309	1284	25	.	.	PUNCT
ftr-309	1285	1	i~~~	i~~~	PROPN
ftr-309	1285	2	~~	~~	NUM
ftr-309	1286	1	i	i	PRON
ftr-309	1286	2	i	i	PRON
ftr-309	1286	3	1	1	NUM
ftr-309	1286	4	i/	i/	NOUN
ftr-309	1286	5	t	t	PROPN
ftr-309	1287	1	i	i	PRON
ftr-309	1287	2	a	a	DET
ftr-309	1287	3	/	/	SYM
ftr-309	1287	4	ctino	ctino	PROPN
ftr-309	1287	5	no/	no/	PROPN
ftr-309	1287	6	uliyn	uliyn	PROPN
ftr-309	1287	7	no	no	PROPN
ftr-309	1287	8	/	/	SYM
ftr-309	1287	9	us	us	PROPN
ftr-309	1287	10	care	care	NOUN
ftr-309	1287	11	/	/	PUNCT
ftr-309	1287	12	itrs	itrs	ADJ
ftr-309	1287	13	n	n	PROPN
ftr-309	1287	14	1191	1191	NUM
ftr-309	1287	15	ii	ii	NOUN
ftr-309	1288	1	i	i	PRON
ftr-309	1288	2	i	i	PRON
ftr-309	1289	1	i	i	PRON
ftr-309	1289	2	it	it	PRON
ftr-309	1289	3	>	>	X
ftr-309	1289	4	quliyin	quliyin	PROPN
ftr-309	1290	1	w	w	NOUN
ftr-309	1290	2	i	i	PROPN
ftr-309	1290	3	n	n	CCONJ
ftr-309	1290	4	n	n	CCONJ
ftr-309	1290	5	lv	lv	PROPN
ftr-309	1290	6	'	'	PUNCT
ftr-309	1290	7	(	(	PUNCT
ftr-309	1290	8	aiivl	aiivl	PROPN
ftr-309	1290	9	ii	ii	PROPN
ftr-309	1290	10	rv	rv	PROPN
ftr-309	1290	11	a	a	PROPN
ftr-309	1290	12	n	n	CCONJ
ftr-309	1290	13	n	n	NOUN
ftr-309	1290	14	p	p	NOUN
ftr-309	1290	15	17	17	NUM
ftr-309	1290	16	'	'	NOUN
ftr-309	1290	17	i	i	PRON
ftr-309	1290	18	n	n	VERB
ftr-309	1290	19	iiii	iiii	VERB
ftr-309	1290	20	u	u	PROPN
ftr-309	1290	21	florida	florida	PROPN
ftr-309	1290	22	tax	tax	PROPN
ftr-309	1290	23	review	review	PROPN
ftr-309	1290	24	b.	b.	PROPN
ftr-309	1290	25	possibility	possibility	NOUN
ftr-309	1290	26	two	two	NUM
ftr-309	1290	27	the	the	DET
ftr-309	1290	28	second	second	ADJ
ftr-309	1290	29	possible	possible	ADJ
ftr-309	1290	30	structure	structure	NOUN
ftr-309	1290	31	is	be	AUX
ftr-309	1290	32	shown	show	VERB
ftr-309	1290	33	in	in	ADP
ftr-309	1290	34	figure	figure	NOUN
ftr-309	1290	35	6	6	NUM
ftr-309	1290	36	below	below	ADV
ftr-309	1290	37	.	.	PUNCT
ftr-309	1291	1	as	as	SCONJ
ftr-309	1291	2	figure	figure	NOUN
ftr-309	1291	3	6	6	NUM
ftr-309	1291	4	shows	show	NOUN
ftr-309	1291	5	,	,	PUNCT
ftr-309	1291	6	in	in	ADP
ftr-309	1291	7	the	the	DET
ftr-309	1291	8	second	second	ADJ
ftr-309	1291	9	possible	possible	ADJ
ftr-309	1291	10	structure	structure	NOUN
ftr-309	1291	11	,	,	PUNCT
ftr-309	1291	12	like	like	ADP
ftr-309	1291	13	in	in	ADP
ftr-309	1291	14	the	the	DET
ftr-309	1291	15	first	first	ADJ
ftr-309	1291	16	possible	possible	ADJ
ftr-309	1291	17	structure	structure	NOUN
ftr-309	1291	18	,	,	PUNCT
ftr-309	1291	19	each	each	DET
ftr-309	1291	20	underlying	underlying	ADJ
ftr-309	1291	21	fund	fund	NOUN
ftr-309	1291	22	pays	pay	VERB
ftr-309	1291	23	management	management	NOUN
ftr-309	1291	24	fees	fee	NOUN
ftr-309	1291	25	to	to	ADP
ftr-309	1291	26	an	an	DET
ftr-309	1291	27	investment	investment	NOUN
ftr-309	1291	28	advisor	advisor	NOUN
ftr-309	1291	29	that	that	PRON
ftr-309	1291	30	is	be	AUX
ftr-309	1291	31	owned	own	VERB
ftr-309	1291	32	by	by	ADP
ftr-309	1291	33	u.s	u.s	PROPN
ftr-309	1291	34	.	.	PROPN
ftr-309	1291	35	subsidiary	subsidiary	NOUN
ftr-309	1291	36	.	.	PUNCT
ftr-309	1292	1	however	however	ADV
ftr-309	1292	2	,	,	PUNCT
ftr-309	1292	3	unlike	unlike	ADP
ftr-309	1292	4	the	the	DET
ftr-309	1292	5	first	first	ADJ
ftr-309	1292	6	possible	possible	ADJ
ftr-309	1292	7	structure	structure	NOUN
ftr-309	1292	8	,	,	PUNCT
ftr-309	1292	9	in	in	ADP
ftr-309	1292	10	the	the	DET
ftr-309	1292	11	second	second	ADJ
ftr-309	1292	12	possible	possible	ADJ
ftr-309	1292	13	structure	structure	NOUN
ftr-309	1292	14	,	,	PUNCT
ftr-309	1292	15	the	the	DET
ftr-309	1292	16	managing	manage	VERB
ftr-309	1292	17	member	member	NOUN
ftr-309	1292	18	of	of	ADP
ftr-309	1292	19	each	each	DET
ftr-309	1292	20	underlying	underlie	VERB
ftr-309	1292	21	fund	fund	NOUN
ftr-309	1292	22	(	(	PUNCT
ftr-309	1292	23	which	which	PRON
ftr-309	1292	24	receives	receive	VERB
ftr-309	1292	25	allocations	allocation	NOUN
ftr-309	1292	26	of	of	ADP
ftr-309	1292	27	all	all	PRON
ftr-309	1292	28	carried	carry	VERB
ftr-309	1292	29	interest	interest	NOUN
ftr-309	1292	30	from	from	ADP
ftr-309	1292	31	that	that	DET
ftr-309	1292	32	fund	fund	NOUN
ftr-309	1292	33	)	)	PUNCT
ftr-309	1292	34	is	be	AUX
ftr-309	1292	35	owned	own	VERB
ftr-309	1292	36	entirely	entirely	ADV
ftr-309	1292	37	by	by	ADP
ftr-309	1292	38	only	only	ADV
ftr-309	1292	39	one	one	NUM
ftr-309	1292	40	of	of	ADP
ftr-309	1292	41	u.s	u.s	PROPN
ftr-309	1292	42	.	.	PROPN
ftr-309	1292	43	subsidiary	subsidiary	PROPN
ftr-309	1292	44	,	,	PUNCT
ftr-309	1292	45	non	non	ADJ
ftr-309	1292	46	-	-	ADJ
ftr-309	1292	47	u.s	u.s	PROPN
ftr-309	1292	48	.	.	PROPN
ftr-309	1292	49	subsidiary	subsidiary	NOUN
ftr-309	1292	50	,	,	PUNCT
ftr-309	1292	51	or	or	CCONJ
ftr-309	1292	52	blackstone	blackstone	NOUN
ftr-309	1292	53	group	group	PROPN
ftr-309	1292	54	lp	lp	PROPN
ftr-309	1292	55	.	.	PUNCT
ftr-309	1293	1	in	in	ADP
ftr-309	1293	2	order	order	NOUN
ftr-309	1293	3	to	to	PART
ftr-309	1293	4	implement	implement	VERB
ftr-309	1293	5	this	this	DET
ftr-309	1293	6	structure	structure	NOUN
ftr-309	1293	7	,	,	PUNCT
ftr-309	1293	8	with	with	ADP
ftr-309	1293	9	respect	respect	NOUN
ftr-309	1293	10	to	to	ADP
ftr-309	1293	11	each	each	DET
ftr-309	1293	12	underlying	underlying	ADJ
ftr-309	1293	13	fund	fund	NOUN
ftr-309	1293	14	,	,	PUNCT
ftr-309	1293	15	blackstone	blackstone	NOUN
ftr-309	1293	16	would	would	AUX
ftr-309	1293	17	have	have	VERB
ftr-309	1293	18	to	to	PART
ftr-309	1293	19	predict	predict	VERB
ftr-309	1293	20	whether	whether	SCONJ
ftr-309	1293	21	the	the	DET
ftr-309	1293	22	underlying	underlie	VERB
ftr-309	1293	23	fund	fund	NOUN
ftr-309	1293	24	would	would	AUX
ftr-309	1293	25	generate	generate	VERB
ftr-309	1293	26	carried	carry	VERB
ftr-309	1293	27	interest	interest	NOUN
ftr-309	1293	28	that	that	PRON
ftr-309	1293	29	is	be	AUX
ftr-309	1293	30	predominately	predominately	ADV
ftr-309	1293	31	qualifying	qualify	VERB
ftr-309	1293	32	income	income	NOUN
ftr-309	1293	33	,	,	PUNCT
ftr-309	1293	34	predominately	predominately	ADV
ftr-309	1293	35	u.s	u.s	PROPN
ftr-309	1293	36	.	.	PROPN
ftr-309	1293	37	non	non	ADJ
ftr-309	1293	38	-	-	ADJ
ftr-309	1293	39	qualifying	qualifying	ADJ
ftr-309	1293	40	income	income	NOUN
ftr-309	1293	41	,	,	PUNCT
ftr-309	1293	42	or	or	CCONJ
ftr-309	1293	43	predominately	predominately	ADV
ftr-309	1293	44	non	non	ADJ
ftr-309	1293	45	-	-	ADJ
ftr-309	1293	46	u.s	u.s	ADJ
ftr-309	1293	47	.	.	PROPN
ftr-309	1293	48	non	non	ADJ
ftr-309	1293	49	-	-	ADJ
ftr-309	1293	50	qualifying	qualifying	ADJ
ftr-309	1293	51	income	income	NOUN
ftr-309	1293	52	.	.	PUNCT
ftr-309	1294	1	blackstone	blackstone	NOUN
ftr-309	1294	2	's	's	PART
ftr-309	1294	3	predictions	prediction	NOUN
ftr-309	1294	4	would	would	AUX
ftr-309	1294	5	determine	determine	VERB
ftr-309	1294	6	whether	whether	SCONJ
ftr-309	1294	7	the	the	DET
ftr-309	1294	8	managing	manage	VERB
ftr-309	1294	9	member	member	NOUN
ftr-309	1294	10	of	of	ADP
ftr-309	1294	11	the	the	DET
ftr-309	1294	12	underlying	underlie	VERB
ftr-309	1294	13	fund	fund	NOUN
ftr-309	1294	14	would	would	AUX
ftr-309	1294	15	be	be	AUX
ftr-309	1294	16	owned	own	VERB
ftr-309	1294	17	by	by	ADP
ftr-309	1294	18	u.s	u.s	PROPN
ftr-309	1294	19	.	.	PROPN
ftr-309	1294	20	subsidiary	subsidiary	NOUN
ftr-309	1294	21	(	(	PUNCT
ftr-309	1294	22	if	if	SCONJ
ftr-309	1294	23	carried	carry	VERB
ftr-309	1294	24	interest	interest	NOUN
ftr-309	1294	25	were	be	AUX
ftr-309	1294	26	expected	expect	VERB
ftr-309	1294	27	to	to	PART
ftr-309	1294	28	be	be	AUX
ftr-309	1294	29	predominately	predominately	ADV
ftr-309	1294	30	u.s	u.s	PROPN
ftr-309	1294	31	.	.	PROPN
ftr-309	1294	32	non	non	ADJ
ftr-309	1294	33	-	-	ADJ
ftr-309	1294	34	qualifying	qualifying	ADJ
ftr-309	1294	35	income	income	NOUN
ftr-309	1294	36	)	)	PUNCT
ftr-309	1294	37	,	,	PUNCT
ftr-309	1294	38	non	non	ADJ
ftr-309	1294	39	-	-	ADJ
ftr-309	1294	40	u.s	u.s	PROPN
ftr-309	1294	41	.	.	PROPN
ftr-309	1294	42	subsidiary	subsidiary	NOUN
ftr-309	1294	43	(	(	PUNCT
ftr-309	1294	44	if	if	SCONJ
ftr-309	1294	45	carried	carry	VERB
ftr-309	1294	46	interest	interest	NOUN
ftr-309	1294	47	were	be	AUX
ftr-309	1294	48	expected	expect	VERB
ftr-309	1294	49	to	to	PART
ftr-309	1294	50	be	be	AUX
ftr-309	1294	51	predominately	predominately	ADV
ftr-309	1294	52	non	non	ADJ
ftr-309	1294	53	-	-	ADJ
ftr-309	1294	54	u.s	u.s	ADJ
ftr-309	1294	55	.	.	PROPN
ftr-309	1294	56	non	non	ADJ
ftr-309	1294	57	-	-	ADJ
ftr-309	1294	58	qualifying	qualifying	ADJ
ftr-309	1294	59	income	income	NOUN
ftr-309	1294	60	)	)	PUNCT
ftr-309	1294	61	,	,	PUNCT
ftr-309	1294	62	or	or	CCONJ
ftr-309	1294	63	blackstone	blackstone	NOUN
ftr-309	1294	64	group	group	NOUN
ftr-309	1294	65	lp	lp	PROPN
ftr-309	1294	66	(	(	PUNCT
ftr-309	1294	67	if	if	SCONJ
ftr-309	1294	68	carried	carry	VERB
ftr-309	1294	69	interest	interest	NOUN
ftr-309	1294	70	were	be	AUX
ftr-309	1294	71	expected	expect	VERB
ftr-309	1294	72	to	to	PART
ftr-309	1294	73	be	be	AUX
ftr-309	1294	74	predominately	predominately	ADV
ftr-309	1294	75	qualifying	qualify	VERB
ftr-309	1294	76	income	income	NOUN
ftr-309	1294	77	)	)	PUNCT
ftr-309	1294	78	.	.	PUNCT
ftr-309	1295	1	if	if	SCONJ
ftr-309	1295	2	blackstone	blackstone	NOUN
ftr-309	1295	3	group	group	PROPN
ftr-309	1295	4	lp	lp	PROPN
ftr-309	1295	5	uses	use	VERB
ftr-309	1295	6	the	the	DET
ftr-309	1295	7	structure	structure	NOUN
ftr-309	1295	8	shown	show	VERB
ftr-309	1295	9	in	in	ADP
ftr-309	1295	10	figure	figure	NOUN
ftr-309	1295	11	6	6	NUM
ftr-309	1295	12	,	,	PUNCT
ftr-309	1295	13	the	the	DET
ftr-309	1295	14	discussion	discussion	NOUN
ftr-309	1295	15	in	in	ADP
ftr-309	1295	16	this	this	DET
ftr-309	1295	17	article	article	NOUN
ftr-309	1295	18	of	of	ADP
ftr-309	1295	19	challenges	challenge	NOUN
ftr-309	1295	20	to	to	PART
ftr-309	1295	21	partnership	partnership	NOUN
ftr-309	1295	22	tax	tax	NOUN
ftr-309	1295	23	allocations	allocation	NOUN
ftr-309	1295	24	would	would	AUX
ftr-309	1295	25	be	be	AUX
ftr-309	1295	26	irrelevant	irrelevant	ADJ
ftr-309	1295	27	because	because	SCONJ
ftr-309	1295	28	no	no	DET
ftr-309	1295	29	partnership	partnership	NOUN
ftr-309	1295	30	specially	specially	ADV
ftr-309	1295	31	allocates	allocate	VERB
ftr-309	1295	32	different	different	ADJ
ftr-309	1295	33	types	type	NOUN
ftr-309	1295	34	of	of	ADP
ftr-309	1295	35	carried	carry	VERB
ftr-309	1295	36	interest	interest	NOUN
ftr-309	1295	37	to	to	ADP
ftr-309	1295	38	different	different	ADJ
ftr-309	1295	39	partners	partner	NOUN
ftr-309	1295	40	.	.	PUNCT
ftr-309	1296	1	however	however	ADV
ftr-309	1296	2	,	,	PUNCT
ftr-309	1296	3	the	the	DET
ftr-309	1296	4	irs	irs	PROPN
ftr-309	1296	5	could	could	AUX
ftr-309	1296	6	,	,	PUNCT
ftr-309	1296	7	nevertheless	nevertheless	ADV
ftr-309	1296	8	,	,	PUNCT
ftr-309	1296	9	invoke	invoke	VERB
ftr-309	1296	10	section	section	NOUN
ftr-309	1296	11	482	482	NUM
ftr-309	1296	12	to	to	PART
ftr-309	1296	13	challenge	challenge	VERB
ftr-309	1296	14	the	the	DET
ftr-309	1296	15	payment	payment	NOUN
ftr-309	1296	16	of	of	ADP
ftr-309	1296	17	management	management	NOUN
ftr-309	1296	18	fees	fee	NOUN
ftr-309	1296	19	entirely	entirely	ADV
ftr-309	1296	20	to	to	ADP
ftr-309	1296	21	the	the	DET
ftr-309	1296	22	investment	investment	NOUN
ftr-309	1296	23	advisor	advisor	NOUN
ftr-309	1296	24	.	.	PUNCT
ftr-309	1297	1	moreover	moreover	ADV
ftr-309	1297	2	,	,	PUNCT
ftr-309	1297	3	the	the	DET
ftr-309	1297	4	structure	structure	NOUN
ftr-309	1297	5	shown	show	VERB
ftr-309	1297	6	in	in	ADP
ftr-309	1297	7	figure	figure	NOUN
ftr-309	1297	8	6	6	NUM
ftr-309	1297	9	is	be	AUX
ftr-309	1297	10	the	the	DET
ftr-309	1297	11	least	least	ADV
ftr-309	1297	12	likely	likely	ADJ
ftr-309	1297	13	of	of	ADP
ftr-309	1297	14	the	the	DET
ftr-309	1297	15	three	three	NUM
ftr-309	1297	16	possible	possible	ADJ
ftr-309	1297	17	structures	structure	NOUN
ftr-309	1297	18	discussed	discuss	VERB
ftr-309	1297	19	in	in	ADP
ftr-309	1297	20	this	this	DET
ftr-309	1297	21	part	part	NOUN
ftr-309	1297	22	iv	iv	NOUN
ftr-309	1297	23	of	of	ADP
ftr-309	1297	24	the	the	DET
ftr-309	1297	25	appendix	appendix	NOUN
ftr-309	1297	26	because	because	SCONJ
ftr-309	1297	27	it	it	PRON
ftr-309	1297	28	relies	rely	VERB
ftr-309	1297	29	on	on	ADP
ftr-309	1297	30	the	the	DET
ftr-309	1297	31	blackstone	blackstone	NOUN
ftr-309	1297	32	firm	firm	NOUN
ftr-309	1297	33	's	's	PART
ftr-309	1297	34	ability	ability	NOUN
ftr-309	1297	35	to	to	PART
ftr-309	1297	36	accurately	accurately	ADV
ftr-309	1297	37	forecast	forecast	VERB
ftr-309	1297	38	the	the	DET
ftr-309	1297	39	types	type	NOUN
ftr-309	1297	40	of	of	ADP
ftr-309	1297	41	income	income	NOUN
ftr-309	1297	42	that	that	PRON
ftr-309	1297	43	will	will	AUX
ftr-309	1297	44	be	be	AUX
ftr-309	1297	45	earned	earn	VERB
ftr-309	1297	46	by	by	ADP
ftr-309	1297	47	a	a	DET
ftr-309	1297	48	given	give	VERB
ftr-309	1297	49	underlying	underlying	ADJ
ftr-309	1297	50	fund	fund	NOUN
ftr-309	1297	51	.	.	PUNCT
ftr-309	1298	1	more	more	ADV
ftr-309	1298	2	significantly	significantly	ADV
ftr-309	1298	3	,	,	PUNCT
ftr-309	1298	4	this	this	DET
ftr-309	1298	5	structure	structure	NOUN
ftr-309	1298	6	would	would	AUX
ftr-309	1298	7	inappropriately	inappropriately	ADV
ftr-309	1298	8	constrain	constrain	VERB
ftr-309	1298	9	the	the	DET
ftr-309	1298	10	blackstone	blackstone	NOUN
ftr-309	1298	11	firm	firm	NOUN
ftr-309	1298	12	's	's	PART
ftr-309	1298	13	ability	ability	NOUN
ftr-309	1298	14	to	to	PART
ftr-309	1298	15	select	select	VERB
ftr-309	1298	16	investments	investment	NOUN
ftr-309	1298	17	on	on	ADP
ftr-309	1298	18	behalf	behalf	NOUN
ftr-309	1298	19	of	of	ADP
ftr-309	1298	20	a	a	DET
ftr-309	1298	21	given	give	VERB
ftr-309	1298	22	underlying	underlying	ADJ
ftr-309	1298	23	fund	fund	NOUN
ftr-309	1298	24	.	.	PUNCT
ftr-309	1299	1	for	for	ADP
ftr-309	1299	2	example	example	NOUN
ftr-309	1299	3	,	,	PUNCT
ftr-309	1299	4	assume	assume	VERB
ftr-309	1299	5	the	the	DET
ftr-309	1299	6	blackstone	blackstone	NOUN
ftr-309	1299	7	firm	firm	NOUN
ftr-309	1299	8	predicted	predict	VERB
ftr-309	1299	9	that	that	SCONJ
ftr-309	1299	10	an	an	DET
ftr-309	1299	11	underlying	underlie	VERB
ftr-309	1299	12	fund	fund	NOUN
ftr-309	1299	13	would	would	AUX
ftr-309	1299	14	generate	generate	VERB
ftr-309	1299	15	predominately	predominately	ADV
ftr-309	1299	16	qualifying	qualify	VERB
ftr-309	1299	17	income	income	NOUN
ftr-309	1299	18	so	so	SCONJ
ftr-309	1299	19	that	that	SCONJ
ftr-309	1299	20	blackstone	blackstone	NOUN
ftr-309	1299	21	group	group	NOUN
ftr-309	1299	22	lp	lp	PROPN
ftr-309	1299	23	directly	directly	ADV
ftr-309	1299	24	owned	own	VERB
ftr-309	1299	25	the	the	DET
ftr-309	1299	26	fund	fund	NOUN
ftr-309	1299	27	's	's	PART
ftr-309	1299	28	managing	manage	VERB
ftr-309	1299	29	member	member	NOUN
ftr-309	1299	30	.	.	PUNCT
ftr-309	1300	1	once	once	ADV
ftr-309	1300	2	this	this	DET
ftr-309	1300	3	decision	decision	NOUN
ftr-309	1300	4	was	be	AUX
ftr-309	1300	5	made	make	VERB
ftr-309	1300	6	,	,	PUNCT
ftr-309	1300	7	the	the	DET
ftr-309	1300	8	blackstone	blackstone	NOUN
ftr-309	1300	9	firm	firm	NOUN
ftr-309	1300	10	's	's	PART
ftr-309	1300	11	obligation	obligation	NOUN
ftr-309	1300	12	to	to	ADP
ftr-309	1300	13	the	the	DET
ftr-309	1300	14	investors	investor	NOUN
ftr-309	1300	15	in	in	ADP
ftr-309	1300	16	the	the	DET
ftr-309	1300	17	underlying	underlie	VERB
ftr-309	1300	18	fund	fund	NOUN
ftr-309	1300	19	to	to	PART
ftr-309	1300	20	select	select	VERB
ftr-309	1300	21	investments	investment	NOUN
ftr-309	1300	22	that	that	PRON
ftr-309	1300	23	generate	generate	VERB
ftr-309	1300	24	favorable	favorable	ADJ
ftr-309	1300	25	after	after	ADP
ftr-309	1300	26	-	-	PUNCT
ftr-309	1300	27	tax	tax	NOUN
ftr-309	1300	28	returns	return	NOUN
ftr-309	1300	29	could	could	AUX
ftr-309	1300	30	be	be	AUX
ftr-309	1300	31	at	at	ADP
ftr-309	1300	32	odds	odd	NOUN
ftr-309	1300	33	with	with	ADP
ftr-309	1300	34	its	its	PRON
ftr-309	1300	35	obligation	obligation	NOUN
ftr-309	1300	36	to	to	PART
ftr-309	1300	37	seek	seek	VERB
ftr-309	1300	38	to	to	PART
ftr-309	1300	39	ensure	ensure	VERB
ftr-309	1300	40	that	that	SCONJ
ftr-309	1300	41	the	the	DET
ftr-309	1300	42	blackstone	blackstone	NOUN
ftr-309	1300	43	group	group	NOUN
ftr-309	1300	44	lp	lp	PROPN
ftr-309	1300	45	qualified	qualified	ADJ
ftr-309	1300	46	for	for	ADP
ftr-309	1300	47	the	the	DET
ftr-309	1300	48	90	90	NUM
ftr-309	1300	49	percent	percent	NOUN
ftr-309	1300	50	gross	gross	ADJ
ftr-309	1300	51	income	income	NOUN
ftr-309	1300	52	exception	exception	NOUN
ftr-309	1300	53	.	.	PUNCT
ftr-309	1301	1	this	this	PRON
ftr-309	1301	2	is	be	AUX
ftr-309	1301	3	true	true	ADJ
ftr-309	1301	4	because	because	SCONJ
ftr-309	1301	5	the	the	DET
ftr-309	1301	6	investors	investor	NOUN
ftr-309	1301	7	in	in	ADP
ftr-309	1301	8	the	the	DET
ftr-309	1301	9	underlying	underlie	VERB
ftr-309	1301	10	fund	fund	NOUN
ftr-309	1301	11	do	do	AUX
ftr-309	1301	12	not	not	PART
ftr-309	1301	13	own	own	VERB
ftr-309	1301	14	an	an	DET
ftr-309	1301	15	interest	interest	NOUN
ftr-309	1301	16	in	in	ADP
ftr-309	1301	17	blackstone	blackstone	NOUN
ftr-309	1301	18	group	group	PROPN
ftr-309	1301	19	lp	lp	PROPN
ftr-309	1301	20	.	.	PUNCT
ftr-309	1302	1	rather	rather	ADV
ftr-309	1302	2	,	,	PUNCT
ftr-309	1302	3	they	they	PRON
ftr-309	1302	4	invest	invest	VERB
ftr-309	1302	5	either	either	CCONJ
ftr-309	1302	6	directly	directly	ADV
ftr-309	1302	7	in	in	ADP
ftr-309	1302	8	the	the	DET
ftr-309	1302	9	underlying	underlie	VERB
ftr-309	1302	10	fund	fund	NOUN
ftr-309	1302	11	or	or	CCONJ
ftr-309	1302	12	they	they	PRON
ftr-309	1302	13	invest	invest	VERB
ftr-309	1302	14	through	through	ADP
ftr-309	1302	15	other	other	ADJ
ftr-309	1302	16	entities	entity	NOUN
ftr-309	1302	17	that	that	PRON
ftr-309	1302	18	invest	invest	VERB
ftr-309	1302	19	in	in	ADP
ftr-309	1302	20	the	the	DET
ftr-309	1302	21	underlying	underlying	ADJ
ftr-309	1302	22	fund	fund	NOUN
ftr-309	1302	23	.	.	PUNCT
ftr-309	1303	1	as	as	ADP
ftr-309	1303	2	a	a	DET
ftr-309	1303	3	result	result	NOUN
ftr-309	1303	4	,	,	PUNCT
ftr-309	1303	5	the	the	DET
ftr-309	1303	6	after	after	ADP
ftr-309	1303	7	-	-	PUNCT
ftr-309	1303	8	tax	tax	NOUN
ftr-309	1303	9	return	return	NOUN
ftr-309	1303	10	realized	realize	VERB
ftr-309	1303	11	by	by	ADP
ftr-309	1303	12	these	these	DET
ftr-309	1303	13	investors	investor	NOUN
ftr-309	1303	14	does	do	AUX
ftr-309	1303	15	not	not	PART
ftr-309	1303	16	depend	depend	VERB
ftr-309	1303	17	on	on	ADP
ftr-309	1303	18	whether	whether	SCONJ
ftr-309	1303	19	or	or	CCONJ
ftr-309	1303	20	not	not	PART
ftr-309	1303	21	blackstone	blackstone	NOUN
ftr-309	1303	22	group	group	NOUN
ftr-309	1303	23	lp	lp	PROPN
ftr-309	1303	24	qualifies	qualify	VERB
ftr-309	1303	25	for	for	ADP
ftr-309	1303	26	the	the	DET
ftr-309	1303	27	90	90	NUM
ftr-309	1303	28	percent	percent	NOUN
ftr-309	1303	29	gross	gross	ADJ
ftr-309	1303	30	income	income	NOUN
ftr-309	1303	31	exception	exception	NOUN
ftr-309	1303	32	.	.	PUNCT
ftr-309	1304	1	thus	thus	ADV
ftr-309	1304	2	,	,	PUNCT
ftr-309	1304	3	a	a	DET
ftr-309	1304	4	conflict	conflict	NOUN
ftr-309	1304	5	could	could	AUX
ftr-309	1304	6	arise	arise	VERB
ftr-309	1304	7	if	if	SCONJ
ftr-309	1304	8	the	the	DET
ftr-309	1304	9	216	216	NUM
ftr-309	1304	10	[	[	X
ftr-309	1304	11	vol	vol	NOUN
ftr-309	1304	12	.	.	PUNCT
ftr-309	1304	13	14:5	14:5	NUM
ftr-309	1304	14	2013	2013	NUM
ftr-309	1304	15	]	]	PUNCT
ftr-309	1304	16	was	be	AUX
ftr-309	1304	17	blackstone	blackstone	NOUN
ftr-309	1304	18	's	's	PART
ftr-309	1304	19	initial	initial	ADJ
ftr-309	1304	20	public	public	ADJ
ftr-309	1304	21	offering	offering	NOUN
ftr-309	1304	22	too	too	ADV
ftr-309	1304	23	good	good	ADJ
ftr-309	1304	24	to	to	PART
ftr-309	1304	25	be	be	AUX
ftr-309	1304	26	true	true	ADJ
ftr-309	1304	27	?	?	PUNCT
ftr-309	1305	1	217	217	NUM
ftr-309	1305	2	blackstone	blackstone	NOUN
ftr-309	1305	3	firm	firm	NOUN
ftr-309	1305	4	identified	identify	VERB
ftr-309	1305	5	a	a	DET
ftr-309	1305	6	beneficial	beneficial	ADJ
ftr-309	1305	7	investment	investment	NOUN
ftr-309	1305	8	that	that	PRON
ftr-309	1305	9	would	would	AUX
ftr-309	1305	10	generate	generate	VERB
ftr-309	1305	11	nonqualifying	nonqualifying	NOUN
ftr-309	1305	12	income	income	NOUN
ftr-309	1305	13	.	.	PUNCT
ftr-309	1306	1	acquiring	acquire	VERB
ftr-309	1306	2	this	this	DET
ftr-309	1306	3	investment	investment	NOUN
ftr-309	1306	4	could	could	AUX
ftr-309	1306	5	be	be	AUX
ftr-309	1306	6	beneficial	beneficial	ADJ
ftr-309	1306	7	for	for	ADP
ftr-309	1306	8	investors	investor	NOUN
ftr-309	1306	9	in	in	ADP
ftr-309	1306	10	the	the	DET
ftr-309	1306	11	underlying	underlying	ADJ
ftr-309	1306	12	fund	fund	NOUN
ftr-309	1306	13	but	but	CCONJ
ftr-309	1306	14	detrimental	detrimental	ADJ
ftr-309	1306	15	for	for	ADP
ftr-309	1306	16	investors	investor	NOUN
ftr-309	1306	17	in	in	ADP
ftr-309	1306	18	blackstone	blackstone	PROPN
ftr-309	1306	19	group	group	PROPN
ftr-309	1306	20	lp	lp	PROPN
ftr-309	1306	21	.	.	PUNCT
ftr-309	1307	1	i	i	PRON
ftr-309	1307	2	/	/	SYM
ftr-309	1307	3	f	f	PROPN
ftr-309	1307	4	figur	figur	PROPN
ftr-309	1307	5	e	e	PROPN
ftr-309	1307	6	6	6	NUM
ftr-309	1307	7	.	.	PUNCT
ftr-309	1307	8	posvsibihty	posvsibihty	VERB
ftr-309	1307	9	two	two	NUM
ftr-309	1307	10	vns	vns	NOUN
ftr-309	1307	11	.	.	PUNCT
ftr-309	1308	1	-ali	-ali	PUNCT
ftr-309	1309	1	a	a	DET
ftr-309	1309	2	i	i	PRON
ftr-309	1309	3	i	i	PRON
ftr-309	1309	4	ii	ii	PROPN
ftr-309	1309	5	/	/	SYM
ftr-309	1309	6	2013	2013	NUM
ftr-309	1309	7	]	]	PUNCT
ftr-309	1309	8	was	be	AUX
ftr-309	1309	9	blackstone	blackstone	NOUN
ftr-309	1309	10	's	's	PART
ftr-309	1309	11	initial	initial	ADJ
ftr-309	1309	12	public	public	ADJ
ftr-309	1309	13	offering	offering	NOUN
ftr-309	1309	14	too	too	ADV
ftr-309	1309	15	good	good	ADJ
ftr-309	1309	16	to	to	PART
ftr-309	1309	17	be	be	AUX
ftr-309	1309	18	true	true	ADJ
ftr-309	1309	19	?	?	PUNCT
ftr-309	1310	1	c	c	NOUN
ftr-309	1310	2	possibility	possibility	NOUN
ftr-309	1310	3	three	three	NUM
ftr-309	1310	4	the	the	DET
ftr-309	1310	5	third	third	ADJ
ftr-309	1310	6	possible	possible	ADJ
ftr-309	1310	7	structure	structure	NOUN
ftr-309	1310	8	is	be	AUX
ftr-309	1310	9	shown	show	VERB
ftr-309	1310	10	in	in	ADP
ftr-309	1310	11	figure	figure	NOUN
ftr-309	1310	12	7	7	NUM
ftr-309	1310	13	below	below	ADV
ftr-309	1310	14	.	.	PUNCT
ftr-309	1311	1	as	as	SCONJ
ftr-309	1311	2	figure	figure	NOUN
ftr-309	1311	3	7	7	NUM
ftr-309	1311	4	shows	show	NOUN
ftr-309	1311	5	,	,	PUNCT
ftr-309	1311	6	in	in	ADP
ftr-309	1311	7	the	the	DET
ftr-309	1311	8	third	third	ADJ
ftr-309	1311	9	possible	possible	ADJ
ftr-309	1311	10	structure	structure	NOUN
ftr-309	1311	11	,	,	PUNCT
ftr-309	1311	12	like	like	ADP
ftr-309	1311	13	in	in	ADP
ftr-309	1311	14	the	the	DET
ftr-309	1311	15	first	first	ADJ
ftr-309	1311	16	two	two	NUM
ftr-309	1311	17	possible	possible	ADJ
ftr-309	1311	18	structures	structure	NOUN
ftr-309	1311	19	,	,	PUNCT
ftr-309	1311	20	each	each	DET
ftr-309	1311	21	underlying	underlying	ADJ
ftr-309	1311	22	fund	fund	NOUN
ftr-309	1311	23	pays	pay	VERB
ftr-309	1311	24	management	management	NOUN
ftr-309	1311	25	fees	fee	NOUN
ftr-309	1311	26	to	to	ADP
ftr-309	1311	27	an	an	DET
ftr-309	1311	28	investment	investment	NOUN
ftr-309	1311	29	advisor	advisor	NOUN
ftr-309	1311	30	that	that	PRON
ftr-309	1311	31	is	be	AUX
ftr-309	1311	32	owned	own	VERB
ftr-309	1311	33	by	by	ADP
ftr-309	1311	34	u.s	u.s	PROPN
ftr-309	1311	35	.	.	PROPN
ftr-309	1311	36	subsidiary	subsidiary	NOUN
ftr-309	1311	37	.	.	PUNCT
ftr-309	1312	1	unlike	unlike	ADP
ftr-309	1312	2	in	in	ADP
ftr-309	1312	3	the	the	DET
ftr-309	1312	4	previous	previous	ADJ
ftr-309	1312	5	structures	structure	NOUN
ftr-309	1312	6	,	,	PUNCT
ftr-309	1312	7	in	in	ADP
ftr-309	1312	8	the	the	DET
ftr-309	1312	9	third	third	ADJ
ftr-309	1312	10	structure	structure	NOUN
ftr-309	1312	11	,	,	PUNCT
ftr-309	1312	12	each	each	DET
ftr-309	1312	13	underlying	underlying	ADJ
ftr-309	1312	14	fund	fund	NOUN
ftr-309	1312	15	would	would	AUX
ftr-309	1312	16	form	form	VERB
ftr-309	1312	17	a	a	DET
ftr-309	1312	18	number	number	NOUN
ftr-309	1312	19	of	of	ADP
ftr-309	1312	20	subsidiaries	subsidiary	NOUN
ftr-309	1312	21	treated	treat	VERB
ftr-309	1312	22	as	as	ADP
ftr-309	1312	23	partnerships	partnership	NOUN
ftr-309	1312	24	for	for	ADP
ftr-309	1312	25	tax	tax	NOUN
ftr-309	1312	26	purposes	purpose	NOUN
ftr-309	1312	27	.	.	PUNCT
ftr-309	1313	1	when	when	SCONJ
ftr-309	1313	2	each	each	DET
ftr-309	1313	3	underlying	underlying	ADJ
ftr-309	1313	4	fund	fund	NOUN
ftr-309	1313	5	acquired	acquire	VERB
ftr-309	1313	6	an	an	DET
ftr-309	1313	7	asset	asset	NOUN
ftr-309	1313	8	that	that	PRON
ftr-309	1313	9	was	be	AUX
ftr-309	1313	10	expected	expect	VERB
ftr-309	1313	11	to	to	PART
ftr-309	1313	12	generate	generate	VERB
ftr-309	1313	13	non	non	ADJ
ftr-309	1313	14	-	-	ADJ
ftr-309	1313	15	qualifying	qualifying	ADJ
ftr-309	1313	16	,	,	PUNCT
ftr-309	1313	17	u.s	u.s	PROPN
ftr-309	1313	18	.	.	PROPN
ftr-309	1313	19	income	income	PROPN
ftr-309	1313	20	,	,	PUNCT
ftr-309	1313	21	the	the	DET
ftr-309	1313	22	underlying	underlie	VERB
ftr-309	1313	23	fund	fund	NOUN
ftr-309	1313	24	would	would	AUX
ftr-309	1313	25	hold	hold	VERB
ftr-309	1313	26	that	that	DET
ftr-309	1313	27	asset	asset	NOUN
ftr-309	1313	28	through	through	ADP
ftr-309	1313	29	a	a	DET
ftr-309	1313	30	subsidiary	subsidiary	NOUN
ftr-309	1313	31	(	(	PUNCT
ftr-309	1313	32	"	"	PUNCT
ftr-309	1313	33	sub	sub	NOUN
ftr-309	1313	34	1	1	NUM
ftr-309	1313	35	"	"	PUNCT
ftr-309	1313	36	in	in	ADP
ftr-309	1313	37	figure	figure	NOUN
ftr-309	1313	38	7	7	NUM
ftr-309	1313	39	)	)	PUNCT
ftr-309	1313	40	that	that	PRON
ftr-309	1313	41	would	would	AUX
ftr-309	1313	42	allocate	allocate	VERB
ftr-309	1313	43	carried	carry	VERB
ftr-309	1313	44	interest	interest	NOUN
ftr-309	1313	45	to	to	ADP
ftr-309	1313	46	managing	manage	VERB
ftr-309	1313	47	member	member	NOUN
ftr-309	1313	48	1	1	NUM
ftr-309	1313	49	,	,	PUNCT
ftr-309	1313	50	which	which	PRON
ftr-309	1313	51	would	would	AUX
ftr-309	1313	52	be	be	AUX
ftr-309	1313	53	owned	own	VERB
ftr-309	1313	54	by	by	ADP
ftr-309	1313	55	u.s	u.s	PROPN
ftr-309	1313	56	.	.	PROPN
ftr-309	1313	57	subsidiary	subsidiary	NOUN
ftr-309	1313	58	.	.	PUNCT
ftr-309	1314	1	when	when	SCONJ
ftr-309	1314	2	each	each	DET
ftr-309	1314	3	underlying	underlying	ADJ
ftr-309	1314	4	fund	fund	NOUN
ftr-309	1314	5	acquired	acquire	VERB
ftr-309	1314	6	an	an	DET
ftr-309	1314	7	asset	asset	NOUN
ftr-309	1314	8	that	that	PRON
ftr-309	1314	9	was	be	AUX
ftr-309	1314	10	expected	expect	VERB
ftr-309	1314	11	to	to	PART
ftr-309	1314	12	generate	generate	VERB
ftr-309	1314	13	qualifying	qualifying	NOUN
ftr-309	1314	14	income	income	NOUN
ftr-309	1314	15	,	,	PUNCT
ftr-309	1314	16	the	the	DET
ftr-309	1314	17	underlying	underlie	VERB
ftr-309	1314	18	fund	fund	NOUN
ftr-309	1314	19	would	would	AUX
ftr-309	1314	20	hold	hold	VERB
ftr-309	1314	21	that	that	DET
ftr-309	1314	22	asset	asset	NOUN
ftr-309	1314	23	through	through	ADP
ftr-309	1314	24	a	a	DET
ftr-309	1314	25	subsidiary	subsidiary	NOUN
ftr-309	1314	26	(	(	PUNCT
ftr-309	1314	27	"	"	PUNCT
ftr-309	1314	28	sub	sub	NOUN
ftr-309	1314	29	2	2	NUM
ftr-309	1314	30	"	"	PUNCT
ftr-309	1314	31	in	in	ADP
ftr-309	1314	32	figure	figure	NOUN
ftr-309	1314	33	7	7	NUM
ftr-309	1314	34	)	)	PUNCT
ftr-309	1314	35	that	that	PRON
ftr-309	1314	36	would	would	AUX
ftr-309	1314	37	allocate	allocate	VERB
ftr-309	1314	38	carried	carry	VERB
ftr-309	1314	39	interest	interest	NOUN
ftr-309	1314	40	to	to	ADP
ftr-309	1314	41	managing	manage	VERB
ftr-309	1314	42	member	member	NOUN
ftr-309	1314	43	2	2	NUM
ftr-309	1314	44	,	,	PUNCT
ftr-309	1314	45	which	which	PRON
ftr-309	1314	46	would	would	AUX
ftr-309	1314	47	be	be	AUX
ftr-309	1314	48	owned	own	VERB
ftr-309	1314	49	by	by	ADP
ftr-309	1314	50	blackstone	blackstone	PROPN
ftr-309	1314	51	group	group	PROPN
ftr-309	1314	52	lp	lp	PROPN
ftr-309	1314	53	.	.	PUNCT
ftr-309	1315	1	finally	finally	ADV
ftr-309	1315	2	,	,	PUNCT
ftr-309	1315	3	when	when	SCONJ
ftr-309	1315	4	each	each	DET
ftr-309	1315	5	underlying	underlying	ADJ
ftr-309	1315	6	fund	fund	NOUN
ftr-309	1315	7	acquired	acquire	VERB
ftr-309	1315	8	an	an	DET
ftr-309	1315	9	asset	asset	NOUN
ftr-309	1315	10	that	that	PRON
ftr-309	1315	11	was	be	AUX
ftr-309	1315	12	expected	expect	VERB
ftr-309	1315	13	to	to	PART
ftr-309	1315	14	generate	generate	VERB
ftr-309	1315	15	non	non	ADJ
ftr-309	1315	16	-	-	ADJ
ftr-309	1315	17	qualifying	qualifying	ADJ
ftr-309	1315	18	,	,	PUNCT
ftr-309	1315	19	non	non	ADJ
ftr-309	1315	20	-	-	ADJ
ftr-309	1315	21	u.s	u.s	PROPN
ftr-309	1315	22	.	.	PROPN
ftr-309	1315	23	income	income	NOUN
ftr-309	1315	24	,	,	PUNCT
ftr-309	1315	25	the	the	DET
ftr-309	1315	26	underlying	underlie	VERB
ftr-309	1315	27	fund	fund	NOUN
ftr-309	1315	28	would	would	AUX
ftr-309	1315	29	hold	hold	VERB
ftr-309	1315	30	that	that	DET
ftr-309	1315	31	asset	asset	NOUN
ftr-309	1315	32	through	through	ADP
ftr-309	1315	33	a	a	DET
ftr-309	1315	34	subsidiary	subsidiary	NOUN
ftr-309	1315	35	(	(	PUNCT
ftr-309	1315	36	"	"	PUNCT
ftr-309	1315	37	sub	sub	VERB
ftr-309	1315	38	3	3	NUM
ftr-309	1315	39	"	"	PUNCT
ftr-309	1315	40	in	in	ADP
ftr-309	1315	41	figure	figure	NOUN
ftr-309	1315	42	7	7	NUM
ftr-309	1315	43	)	)	PUNCT
ftr-309	1315	44	that	that	PRON
ftr-309	1315	45	would	would	AUX
ftr-309	1315	46	allocate	allocate	VERB
ftr-309	1315	47	carried	carry	VERB
ftr-309	1315	48	interest	interest	NOUN
ftr-309	1315	49	to	to	ADP
ftr-309	1315	50	managing	manage	VERB
ftr-309	1315	51	member	member	NOUN
ftr-309	1315	52	3	3	NUM
ftr-309	1315	53	,	,	PUNCT
ftr-309	1315	54	which	which	PRON
ftr-309	1315	55	would	would	AUX
ftr-309	1315	56	be	be	AUX
ftr-309	1315	57	owned	own	VERB
ftr-309	1315	58	by	by	ADP
ftr-309	1315	59	non	non	ADJ
ftr-309	1315	60	-	-	ADJ
ftr-309	1315	61	us	us	ADJ
ftr-309	1315	62	subsidiary	subsidiary	NOUN
ftr-309	1315	63	.	.	PUNCT
ftr-309	1316	1	if	if	SCONJ
ftr-309	1316	2	blackstone	blackstone	NOUN
ftr-309	1316	3	group	group	PROPN
ftr-309	1316	4	lp	lp	PROPN
ftr-309	1316	5	indeed	indeed	ADV
ftr-309	1316	6	uses	use	VERB
ftr-309	1316	7	the	the	DET
ftr-309	1316	8	structure	structure	NOUN
ftr-309	1316	9	shown	show	VERB
ftr-309	1316	10	in	in	ADP
ftr-309	1316	11	figure	figure	NOUN
ftr-309	1316	12	7	7	NUM
ftr-309	1316	13	,	,	PUNCT
ftr-309	1316	14	the	the	DET
ftr-309	1316	15	irs	irs	PROPN
ftr-309	1316	16	likely	likely	ADV
ftr-309	1316	17	could	could	AUX
ftr-309	1316	18	challenge	challenge	VERB
ftr-309	1316	19	the	the	DET
ftr-309	1316	20	structure	structure	NOUN
ftr-309	1316	21	and	and	CCONJ
ftr-309	1316	22	re	re	NOUN
ftr-309	1316	23	-	-	VERB
ftr-309	1316	24	characterize	characterize	VERB
ftr-309	1316	25	it	it	PRON
ftr-309	1316	26	as	as	ADP
ftr-309	1316	27	the	the	DET
ftr-309	1316	28	structure	structure	NOUN
ftr-309	1316	29	shown	show	VERB
ftr-309	1316	30	in	in	ADP
ftr-309	1316	31	figure	figure	NOUN
ftr-309	1316	32	8	8	NUM
ftr-309	1316	33	.	.	PUNCT
ftr-309	1317	1	figure	figure	NOUN
ftr-309	1317	2	8	8	NUM
ftr-309	1317	3	shows	show	VERB
ftr-309	1317	4	the	the	DET
ftr-309	1317	5	results	result	NOUN
ftr-309	1317	6	of	of	ADP
ftr-309	1317	7	the	the	DET
ftr-309	1317	8	irs	irs	PROPN
ftr-309	1317	9	challenging	challenging	ADJ
ftr-309	1317	10	figure	figure	NOUN
ftr-309	1317	11	7	7	NUM
ftr-309	1317	12	and	and	CCONJ
ftr-309	1317	13	claiming	claim	VERB
ftr-309	1317	14	that	that	DET
ftr-309	1317	15	sub	sub	NOUN
ftr-309	1317	16	1	1	NUM
ftr-309	1317	17	,	,	PUNCT
ftr-309	1317	18	sub	sub	NOUN
ftr-309	1317	19	2	2	NUM
ftr-309	1317	20	,	,	PUNCT
ftr-309	1317	21	sub	sub	NOUN
ftr-309	1317	22	3	3	NUM
ftr-309	1317	23	,	,	PUNCT
ftr-309	1317	24	and	and	CCONJ
ftr-309	1317	25	each	each	DET
ftr-309	1317	26	underlying	underlie	VERB
ftr-309	1317	27	fund	fund	NOUN
ftr-309	1317	28	should	should	AUX
ftr-309	1317	29	be	be	AUX
ftr-309	1317	30	treated	treat	VERB
ftr-309	1317	31	as	as	ADP
ftr-309	1317	32	one	one	NUM
ftr-309	1317	33	partnership	partnership	NOUN
ftr-309	1317	34	for	for	ADP
ftr-309	1317	35	tax	tax	NOUN
ftr-309	1317	36	purposes	purpose	NOUN
ftr-309	1317	37	.	.	PUNCT
ftr-309	1318	1	the	the	DET
ftr-309	1318	2	irs	irs	PROPN
ftr-309	1318	3	could	could	AUX
ftr-309	1318	4	base	base	VERB
ftr-309	1318	5	this	this	DET
ftr-309	1318	6	challenge	challenge	NOUN
ftr-309	1318	7	on	on	ADP
ftr-309	1318	8	the	the	DET
ftr-309	1318	9	fact	fact	NOUN
ftr-309	1318	10	that	that	SCONJ
ftr-309	1318	11	all	all	DET
ftr-309	1318	12	entities	entity	NOUN
ftr-309	1318	13	have	have	AUX
ftr-309	1318	14	the	the	DET
ftr-309	1318	15	same	same	ADJ
ftr-309	1318	16	owners	owner	NOUN
ftr-309	1318	17	and	and	CCONJ
ftr-309	1318	18	the	the	DET
ftr-309	1318	19	fact	fact	NOUN
ftr-309	1318	20	that	that	SCONJ
ftr-309	1318	21	the	the	DET
ftr-309	1318	22	economic	economic	ADJ
ftr-309	1318	23	arrangements	arrangement	NOUN
ftr-309	1318	24	of	of	ADP
ftr-309	1318	25	the	the	DET
ftr-309	1318	26	entities	entity	NOUN
ftr-309	1318	27	are	be	AUX
ftr-309	1318	28	interdependent	interdependent	ADJ
ftr-309	1318	29	.	.	PUNCT
ftr-309	1318	30	'	'	PUNCT
ftr-309	1319	1	90	90	NUM
ftr-309	1319	2	regarding	regard	VERB
ftr-309	1319	3	the	the	DET
ftr-309	1319	4	second	second	ADJ
ftr-309	1319	5	fact	fact	NOUN
ftr-309	1319	6	,	,	PUNCT
ftr-309	1319	7	investors	investor	NOUN
ftr-309	1319	8	in	in	ADP
ftr-309	1319	9	each	each	DET
ftr-309	1319	10	underlying	underlie	VERB
ftr-309	1319	11	fund	fund	NOUN
ftr-309	1319	12	will	will	AUX
ftr-309	1319	13	insist	insist	VERB
ftr-309	1319	14	that	that	SCONJ
ftr-309	1319	15	the	the	DET
ftr-309	1319	16	carried	carry	VERB
ftr-309	1319	17	interest	interest	NOUN
ftr-309	1319	18	received	receive	VERB
ftr-309	1319	19	from	from	ADP
ftr-309	1319	20	sub	sub	NOUN
ftr-309	1319	21	1	1	NUM
ftr-309	1319	22	may	may	AUX
ftr-309	1319	23	not	not	PART
ftr-309	1319	24	solely	solely	ADV
ftr-309	1319	25	depend	depend	VERB
ftr-309	1319	26	on	on	ADP
ftr-309	1319	27	how	how	SCONJ
ftr-309	1319	28	the	the	DET
ftr-309	1319	29	assets	asset	NOUN
ftr-309	1319	30	of	of	ADP
ftr-309	1319	31	sub	sub	NOUN
ftr-309	1319	32	1	1	NUM
ftr-309	1319	33	have	have	AUX
ftr-309	1319	34	performed	perform	VERB
ftr-309	1319	35	but	but	CCONJ
ftr-309	1319	36	must	must	AUX
ftr-309	1319	37	instead	instead	ADV
ftr-309	1319	38	depend	depend	VERB
ftr-309	1319	39	on	on	ADP
ftr-309	1319	40	the	the	DET
ftr-309	1319	41	performance	performance	NOUN
ftr-309	1319	42	of	of	ADP
ftr-309	1319	43	all	all	DET
ftr-309	1319	44	assets	asset	NOUN
ftr-309	1319	45	held	hold	VERB
ftr-309	1319	46	directly	directly	ADV
ftr-309	1319	47	or	or	CCONJ
ftr-309	1319	48	indirectly	indirectly	ADV
ftr-309	1319	49	by	by	ADP
ftr-309	1319	50	the	the	DET
ftr-309	1319	51	underlying	underlying	ADJ
ftr-309	1319	52	fund	fund	NOUN
ftr-309	1319	53	.	.	PUNCT
ftr-309	1320	1	finally	finally	ADV
ftr-309	1320	2	,	,	PUNCT
ftr-309	1320	3	once	once	SCONJ
ftr-309	1320	4	the	the	DET
ftr-309	1320	5	third	third	ADJ
ftr-309	1320	6	possibility	possibility	NOUN
ftr-309	1320	7	is	be	AUX
ftr-309	1320	8	re	re	VERB
ftr-309	1320	9	-	-	VERB
ftr-309	1320	10	characterized	characterize	VERB
ftr-309	1320	11	as	as	SCONJ
ftr-309	1320	12	shown	show	VERB
ftr-309	1320	13	in	in	ADP
ftr-309	1320	14	figure	figure	NOUN
ftr-309	1320	15	8	8	NUM
ftr-309	1320	16	,	,	PUNCT
ftr-309	1320	17	it	it	PRON
ftr-309	1320	18	is	be	AUX
ftr-309	1320	19	similar	similar	ADJ
ftr-309	1320	20	to	to	ADP
ftr-309	1320	21	the	the	DET
ftr-309	1320	22	structure	structure	NOUN
ftr-309	1320	23	shown	show	VERB
ftr-309	1320	24	in	in	ADP
ftr-309	1320	25	figure	figure	NOUN
ftr-309	1320	26	i	i	PRON
ftr-309	1320	27	because	because	SCONJ
ftr-309	1320	28	each	each	DET
ftr-309	1320	29	underlying	underlying	ADJ
ftr-309	1320	30	fund	fund	NOUN
ftr-309	1320	31	pays	pay	VERB
ftr-309	1320	32	management	management	NOUN
ftr-309	1320	33	fees	fee	NOUN
ftr-309	1320	34	indirectly	indirectly	ADV
ftr-309	1320	35	to	to	ADP
ftr-309	1320	36	u.s	u.s	PROPN
ftr-309	1320	37	.	.	PROPN
ftr-309	1320	38	subsidiary	subsidiary	NOUN
ftr-309	1320	39	,	,	PUNCT
ftr-309	1320	40	and	and	CCONJ
ftr-309	1320	41	each	each	DET
ftr-309	1320	42	underlying	underlie	VERB
ftr-309	1320	43	fund	fund	NOUN
ftr-309	1320	44	indirectly	indirectly	ADV
ftr-309	1320	45	allocates	allocate	VERB
ftr-309	1320	46	some	some	DET
ftr-309	1320	47	carried	carry	VERB
ftr-309	1320	48	interest	interest	NOUN
ftr-309	1320	49	to	to	ADP
ftr-309	1320	50	each	each	PRON
ftr-309	1320	51	of	of	ADP
ftr-309	1320	52	blackstone	blackstone	PROPN
ftr-309	1320	53	group	group	PROPN
ftr-309	1320	54	lp	lp	PROPN
ftr-309	1320	55	,	,	PUNCT
ftr-309	1320	56	u.s	u.s	PROPN
ftr-309	1320	57	.	.	PROPN
ftr-309	1320	58	subsidiary	subsidiary	NOUN
ftr-309	1320	59	,	,	PUNCT
ftr-309	1320	60	and	and	CCONJ
ftr-309	1320	61	non	non	ADJ
ftr-309	1320	62	-	-	ADJ
ftr-309	1320	63	u.s	u.s	PROPN
ftr-309	1320	64	.	.	PROPN
ftr-309	1320	65	subsidiary	subsidiary	NOUN
ftr-309	1320	66	.	.	PUNCT
ftr-309	1321	1	therefore	therefore	ADV
ftr-309	1321	2	,	,	PUNCT
ftr-309	1321	3	if	if	SCONJ
ftr-309	1321	4	blackstone	blackstone	NOUN
ftr-309	1321	5	group	group	NOUN
ftr-309	1321	6	lp	lp	PROPN
ftr-309	1321	7	uses	use	VERB
ftr-309	1321	8	this	this	DET
ftr-309	1321	9	structure	structure	NOUN
ftr-309	1321	10	,	,	PUNCT
ftr-309	1321	11	the	the	DET
ftr-309	1321	12	irs	irs	PROPN
ftr-309	1321	13	could	could	AUX
ftr-309	1321	14	challenge	challenge	VERB
ftr-309	1321	15	the	the	DET
ftr-309	1321	16	190	190	NUM
ftr-309	1321	17	.	.	PUNCT
ftr-309	1322	1	see	see	VERB
ftr-309	1322	2	,	,	PUNCT
ftr-309	1322	3	e.g.	e.g.	ADV
ftr-309	1322	4	,	,	PUNCT
ftr-309	1322	5	gregory	gregory	PROPN
ftr-309	1322	6	may	may	AUX
ftr-309	1322	7	,	,	PUNCT
ftr-309	1322	8	wrongs	wrong	NOUN
ftr-309	1322	9	and	and	CCONJ
ftr-309	1322	10	remedies	remedy	NOUN
ftr-309	1322	11	:	:	PUNCT
ftr-309	1322	12	the	the	DET
ftr-309	1322	13	u.s	u.s	PROPN
ftr-309	1322	14	.	.	PROPN
ftr-309	1322	15	tax	tax	NOUN
ftr-309	1322	16	treatment	treatment	NOUN
ftr-309	1322	17	of	of	ADP
ftr-309	1322	18	multinational	multinational	ADJ
ftr-309	1322	19	partnerships	partnership	NOUN
ftr-309	1322	20	of	of	ADP
ftr-309	1322	21	individuals	individual	NOUN
ftr-309	1322	22	,	,	PUNCT
ftr-309	1322	23	104	104	NUM
ftr-309	1322	24	tax	tax	NOUN
ftr-309	1322	25	notes	note	NOUN
ftr-309	1322	26	1509	1509	NUM
ftr-309	1322	27	,	,	PUNCT
ftr-309	1322	28	1522	1522	NUM
ftr-309	1322	29	-	-	SYM
ftr-309	1322	30	24	24	NUM
ftr-309	1322	31	(	(	PUNCT
ftr-309	1322	32	june	june	PROPN
ftr-309	1322	33	21	21	NUM
ftr-309	1322	34	,	,	PUNCT
ftr-309	1322	35	2004	2004	NUM
ftr-309	1322	36	)	)	PUNCT
ftr-309	1322	37	(	(	PUNCT
ftr-309	1322	38	describing	describe	VERB
ftr-309	1322	39	how	how	SCONJ
ftr-309	1322	40	the	the	DET
ftr-309	1322	41	irs	irs	PROPN
ftr-309	1322	42	could	could	AUX
ftr-309	1322	43	collapse	collapse	VERB
ftr-309	1322	44	parallel	parallel	ADJ
ftr-309	1322	45	partnerships	partnership	NOUN
ftr-309	1322	46	into	into	ADP
ftr-309	1322	47	a	a	DET
ftr-309	1322	48	single	single	ADJ
ftr-309	1322	49	partnership	partnership	NOUN
ftr-309	1322	50	particularly	particularly	ADV
ftr-309	1322	51	if	if	SCONJ
ftr-309	1322	52	the	the	DET
ftr-309	1322	53	partnerships	partnership	NOUN
ftr-309	1322	54	"	"	PUNCT
ftr-309	1322	55	set	set	VERB
ftr-309	1322	56	distributions	distribution	NOUN
ftr-309	1322	57	by	by	ADP
ftr-309	1322	58	reference	reference	NOUN
ftr-309	1322	59	to	to	ADP
ftr-309	1322	60	their	their	PRON
ftr-309	1322	61	combined	combine	VERB
ftr-309	1322	62	profits	profit	NOUN
ftr-309	1322	63	"	"	PUNCT
ftr-309	1322	64	)	)	PUNCT
ftr-309	1322	65	.	.	PUNCT
ftr-309	1323	1	219	219	NUM
ftr-309	1323	2	220	220	NUM
ftr-309	1323	3	florida	florida	PROPN
ftr-309	1323	4	tax	tax	NOUN
ftr-309	1323	5	review	review	NOUN
ftr-309	1323	6	[	[	X
ftr-309	1323	7	vol	vol	NOUN
ftr-309	1323	8	.	.	PUNCT
ftr-309	1324	1	14:5	14:5	NUM
ftr-309	1324	2	income	income	NOUN
ftr-309	1324	3	allocations	allocation	NOUN
ftr-309	1324	4	by	by	ADP
ftr-309	1324	5	each	each	DET
ftr-309	1324	6	underlying	underlie	VERB
ftr-309	1324	7	fund	fund	NOUN
ftr-309	1324	8	under	under	ADP
ftr-309	1324	9	section	section	NOUN
ftr-309	1324	10	482	482	NUM
ftr-309	1324	11	,	,	PUNCT
ftr-309	1324	12	and	and	CCONJ
ftr-309	1324	13	the	the	DET
ftr-309	1324	14	irs	irs	PROPN
ftr-309	1324	15	could	could	AUX
ftr-309	1324	16	invoke	invoke	VERB
ftr-309	1324	17	section	section	NOUN
ftr-309	1324	18	482	482	NUM
ftr-309	1324	19	to	to	PART
ftr-309	1324	20	challenge	challenge	VERB
ftr-309	1324	21	the	the	DET
ftr-309	1324	22	payment	payment	NOUN
ftr-309	1324	23	of	of	ADP
ftr-309	1324	24	management	management	NOUN
ftr-309	1324	25	fees	fee	NOUN
ftr-309	1324	26	entirely	entirely	ADV
ftr-309	1324	27	to	to	ADP
ftr-309	1324	28	the	the	DET
ftr-309	1324	29	investment	investment	NOUN
ftr-309	1324	30	advisor	advisor	NOUN
ftr-309	1324	31	.	.	PROPN
ftr-309	1325	1	figure	figure	NOUN
ftr-309	1325	2	7	7	NUM
ftr-309	1325	3	.	.	PUNCT
ftr-309	1326	1	poss	poss	PROPN
ftr-309	1326	2	bi	bi	PROPN
ftr-309	1326	3	ity	ity	PROPN
ftr-309	1326	4	three	three	NUM
ftr-309	1326	5	~	~	PROPN
ftr-309	1326	6	a	a	DET
ftr-309	1326	7	pamn	pamn	NOUN
ftr-309	1326	8	of	of	ADP
ftr-309	1326	9	.	.	PUNCT
ftr-309	1327	1	k	k	PROPN
ftr-309	1327	2	manement	manement	PROPN
ftr-309	1327	3	glctino	glctino	PROPN
ftr-309	1327	4	carrnci	carrnci	PROPN
ftr-309	1327	5	intres	intres	PROPN
ftr-309	1327	6	ii	ii	PROPN
ftr-309	1327	7	a	a	DET
ftr-309	1327	8	ocaio	ocaio	NOUN
ftr-309	1327	9	of	of	ADP
ftr-309	1327	10	iarie	iarie	NOUN
ftr-309	1327	11	ntrs	ntrs	PROPN
ftr-309	1328	1	i	i	PRON
ftr-309	1328	2	ua	ua	PROPN
ftr-309	1328	3	f	f	PROPN
ftr-309	1328	4	in	in	ADP
ftr-309	1328	5	nn	nn	PROPN
ftr-309	1329	1	qua	qua	PROPN
ftr-309	1329	2	carr	carr	PROPN
ftr-309	1329	3	d	d	PROPN
ftr-309	1329	4	ineres	ineres	PROPN
ftr-309	1329	5	fe	fe	PROPN
ftr-309	1329	6	m	m	PROPN
ftr-309	1329	7	un	un	PROPN
ftr-309	1329	8	li	li	PROPN
ftr-309	1329	9	ng	ng	PROPN
ftr-309	1330	1	i	i	PRON
ftr-309	1330	2	fund	fund	NOUN
ftr-309	1330	3	volume	volume	NOUN
ftr-309	1330	4	14	14	NUM
ftr-309	1330	5	florida	florida	PROPN
ftr-309	1330	6	tax	tax	NOUN
ftr-309	1330	7	review	review	NOUN
ftr-309	1330	8	article	article	NOUN
ftr-309	1330	9	watching	watch	VERB
ftr-309	1330	10	the	the	DET
ftr-309	1330	11	watchers	watcher	NOUN
ftr-309	1330	12	:	:	PUNCT
ftr-309	1330	13	preventing	prevent	VERB
ftr-309	1330	14	i.r.s	i.r.	NOUN
ftr-309	1330	15	.	.	PUNCT
ftr-309	1331	1	abuse	abuse	NOUN
ftr-309	1331	2	of	of	ADP
ftr-309	1331	3	the	the	DET
ftr-309	1331	4	tax	tax	NOUN
ftr-309	1331	5	system	system	NOUN
ftr-309	1331	6	samuel	samuel	PROPN
ftr-309	1331	7	d.	d.	PROPN
ftr-309	1331	8	brunson	brunson	PROPN
ftr-309	1331	9	f	f	PROPN
ftr-309	1332	1	university	university	PROPN
ftr-309	1332	2	of	of	ADP
ftr-309	1332	3	eflorida	eflorida	PROPN
ftr-309	1332	4	levin	levin	PROPN
ftr-309	1332	5	college	college	PROPN
ftr-309	1332	6	of	of	ADP
ftr-309	1332	7	law	law	NOUN
ftr-309	1332	8	1818ants	1818ant	NOUN
ftr-309	1332	9	2013	2013	NUM
ftr-309	1332	10	number	number	NOUN
ftr-309	1332	11	6	6	NUM