id	sid	tid	token	lemma	pos
ftr-443	1	1	florida	florida	PROPN
ftr-443	1	2	tax	tax	PROPN
ftr-443	1	3	review	review	NOUN
ftr-443	1	4	volume	volume	NOUN
ftr-443	1	5	4	4	NUM
ftr-443	1	6	1999	1999	NUM
ftr-443	1	7	number	number	NOUN
ftr-443	1	8	3	3	NUM
ftr-443	1	9	benefits	benefit	NOUN
ftr-443	1	10	and	and	CCONJ
ftr-443	1	11	burdens	burden	NOUN
ftr-443	1	12	of	of	ADP
ftr-443	1	13	subchapter	subchapter	NOUN
ftr-443	1	14	s	s	NOUN
ftr-443	1	15	in	in	ADP
ftr-443	1	16	a	a	DET
ftr-443	1	17	check	check	NOUN
ftr-443	1	18	-	-	PUNCT
ftr-443	1	19	the	the	DET
ftr-443	1	20	-	-	PUNCT
ftr-443	1	21	box	box	NOUN
ftr-443	1	22	world	world	NOUN
ftr-443	1	23	jerald	jerald	PROPN
ftr-443	1	24	david	david	PROPN
ftr-443	1	25	august	august	PROPN
ftr-443	1	26	"	"	PUNCT
ftr-443	1	27	l	l	NOUN
ftr-443	1	28	introduction	introduction	NOUN
ftr-443	1	29	................................	................................	PUNCT
ftr-443	1	30	289	289	NUM
ftr-443	1	31	ii	ii	NOUN
ftr-443	1	32	.	.	PUNCT
ftr-443	2	1	s	s	PART
ftr-443	2	2	corporation	corporation	NOUN
ftr-443	2	3	versus	versus	ADP
ftr-443	2	4	partnership	partnership	NOUN
ftr-443	2	5	comparison	comparison	NOUN
ftr-443	2	6	after	after	ADP
ftr-443	2	7	the	the	DET
ftr-443	2	8	ctb	ctb	PROPN
ftr-443	2	9	regulations	regulation	NOUN
ftr-443	2	10	.....................	.....................	PUNCT
ftr-443	3	1	294	294	NUM
ftr-443	3	2	a.	a.	NOUN
ftr-443	3	3	state	state	NOUN
ftr-443	3	4	law	law	NOUN
ftr-443	3	5	differences	difference	NOUN
ftr-443	3	6	......................	......................	PUNCT
ftr-443	3	7	295	295	NUM
ftr-443	3	8	b.	b.	NOUN
ftr-443	3	9	eligibility	eligibility	NOUN
ftr-443	3	10	limitations	limitation	NOUN
ftr-443	3	11	......................	......................	PUNCT
ftr-443	3	12	296	296	NUM
ftr-443	3	13	1	1	NUM
ftr-443	3	14	.	.	PUNCT
ftr-443	3	15	number	number	NOUN
ftr-443	3	16	of	of	ADP
ftr-443	3	17	equity	equity	NOUN
ftr-443	3	18	participants	participant	NOUN
ftr-443	3	19	...........	...........	PUNCT
ftr-443	3	20	296	296	NUM
ftr-443	3	21	2	2	NUM
ftr-443	3	22	.	.	PUNCT
ftr-443	3	23	eligible	eligible	ADJ
ftr-443	3	24	equity	equity	NOUN
ftr-443	3	25	participants	participant	NOUN
ftr-443	3	26	.............	.............	PUNCT
ftr-443	3	27	297	297	NUM
ftr-443	3	28	3	3	NUM
ftr-443	3	29	.	.	PUNCT
ftr-443	3	30	limitations	limitation	NOUN
ftr-443	3	31	on	on	ADP
ftr-443	3	32	use	use	NOUN
ftr-443	3	33	of	of	ADP
ftr-443	3	34	debt	debt	NOUN
ftr-443	3	35	and	and	CCONJ
ftr-443	3	36	equity	equity	NOUN
ftr-443	3	37	.....	.....	PUNCT
ftr-443	3	38	298	298	NUM
ftr-443	3	39	4	4	NUM
ftr-443	3	40	.	.	PUNCT
ftr-443	4	1	use	use	NOUN
ftr-443	4	2	of	of	ADP
ftr-443	4	3	multi	multi	ADJ
ftr-443	4	4	-	-	ADJ
ftr-443	4	5	tiered	tiered	ADJ
ftr-443	4	6	structures	structure	NOUN
ftr-443	4	7	or	or	CCONJ
ftr-443	4	8	affiliates	affiliate	NOUN
ftr-443	4	9	299	299	NUM
ftr-443	4	10	5	5	NUM
ftr-443	4	11	.	.	PUNCT
ftr-443	4	12	qualified	qualified	ADJ
ftr-443	4	13	subchapter	subchapter	NOUN
ftr-443	4	14	s	s	PART
ftr-443	4	15	subsidiaries	subsidiary	NOUN
ftr-443	4	16	(	(	PUNCT
ftr-443	4	17	qsubs	qsub	NOUN
ftr-443	4	18	)	)	PUNCT
ftr-443	4	19	..........................	..........................	PUNCT
ftr-443	5	1	300	300	NUM
ftr-443	5	2	a.	a.	NOUN
ftr-443	5	3	deemed	deem	VERB
ftr-443	5	4	liquidation	liquidation	NOUN
ftr-443	5	5	............	............	PUNCT
ftr-443	5	6	301	301	NUM
ftr-443	5	7	b.	b.	PROPN
ftr-443	5	8	conversion	conversion	PROPN
ftr-443	5	9	of	of	ADP
ftr-443	5	10	consolidated	consolidated	ADJ
ftr-443	5	11	group	group	NOUN
ftr-443	5	12	into	into	ADP
ftr-443	5	13	qsub	qsub	PROPN
ftr-443	5	14	group	group	PROPN
ftr-443	5	15	.........	.........	PUNCT
ftr-443	5	16	302	302	NUM
ftr-443	5	17	c.	c.	NOUN
ftr-443	5	18	termination	termination	NOUN
ftr-443	5	19	of	of	ADP
ftr-443	5	20	qsub	qsub	PROPN
ftr-443	5	21	election	election	PROPN
ftr-443	5	22	:	:	PUNCT
ftr-443	5	23	deemed	deem	VERB
ftr-443	5	24	section	section	NOUN
ftr-443	5	25	351	351	NUM
ftr-443	5	26	transfer	transfer	NOUN
ftr-443	5	27	......	......	PUNCT
ftr-443	5	28	303	303	NUM
ftr-443	5	29	6	6	NUM
ftr-443	5	30	.	.	PUNCT
ftr-443	5	31	tax	tax	NOUN
ftr-443	5	32	rate	rate	NOUN
ftr-443	5	33	comparison	comparison	NOUN
ftr-443	5	34	.................	.................	PUNCT
ftr-443	5	35	304	304	NUM
ftr-443	5	36	7	7	NUM
ftr-443	5	37	.	.	PUNCT
ftr-443	6	1	certainty	certainty	NOUN
ftr-443	6	2	of	of	ADP
ftr-443	6	3	tax	tax	NOUN
ftr-443	6	4	status	status	NOUN
ftr-443	6	5	................	................	PUNCT
ftr-443	6	6	305	305	NUM
ftr-443	6	7	8	8	NUM
ftr-443	6	8	.	.	PUNCT
ftr-443	7	1	formation	formation	NOUN
ftr-443	7	2	issues	issue	NOUN
ftr-443	7	3	....................	....................	PUNCT
ftr-443	8	1	305	305	NUM
ftr-443	8	2	9	9	NUM
ftr-443	8	3	.	.	PUNCT
ftr-443	8	4	services	service	NOUN
ftr-443	8	5	provided	provide	VERB
ftr-443	8	6	in	in	ADP
ftr-443	8	7	exchange	exchange	NOUN
ftr-443	8	8	for	for	ADP
ftr-443	8	9	equity	equity	NOUN
ftr-443	8	10	interests	interest	NOUN
ftr-443	8	11	.....................	.....................	PUNCT
ftr-443	8	12	308	308	NUM
ftr-443	8	13	10	10	NUM
ftr-443	8	14	.	.	PUNCT
ftr-443	8	15	entity	entity	NOUN
ftr-443	8	16	level	level	NOUN
ftr-443	8	17	taxation	taxation	NOUN
ftr-443	8	18	.................	.................	PUNCT
ftr-443	8	19	309	309	NUM
ftr-443	8	20	11	11	NUM
ftr-443	8	21	.	.	PUNCT
ftr-443	9	1	use	use	NOUN
ftr-443	9	2	of	of	ADP
ftr-443	9	3	cash	cash	NOUN
ftr-443	9	4	method	method	NOUN
ftr-443	9	5	of	of	ADP
ftr-443	9	6	accounting	accounting	NOUN
ftr-443	9	7	.......	.......	PUNCT
ftr-443	9	8	310	310	NUM
ftr-443	9	9	12	12	NUM
ftr-443	9	10	.	.	PUNCT
ftr-443	10	1	effects	effect	NOUN
ftr-443	10	2	of	of	ADP
ftr-443	10	3	entity	entity	NOUN
ftr-443	10	4	level	level	NOUN
ftr-443	10	5	debt	debt	NOUN
ftr-443	10	6	on	on	ADP
ftr-443	10	7	outside	outside	ADJ
ftr-443	10	8	basis	basis	NOUN
ftr-443	10	9	and	and	CCONJ
ftr-443	10	10	loss	loss	NOUN
ftr-443	10	11	limitation	limitation	NOUN
ftr-443	10	12	rules	rule	NOUN
ftr-443	10	13	.........	.........	PUNCT
ftr-443	11	1	311	311	NUM
ftr-443	11	2	a.	a.	NOUN
ftr-443	11	3	rules	rule	NOUN
ftr-443	11	4	for	for	ADP
ftr-443	11	5	s	s	NOUN
ftr-443	11	6	corporations	corporation	NOUN
ftr-443	11	7	.........	.........	PUNCT
ftr-443	11	8	311	311	NUM
ftr-443	11	9	b.	b.	NOUN
ftr-443	11	10	rules	rule	NOUN
ftr-443	11	11	for	for	ADP
ftr-443	11	12	llcs	llcs	NOUN
ftr-443	11	13	................	................	PUNCT
ftr-443	11	14	312	312	NUM
ftr-443	11	15	13	13	NUM
ftr-443	11	16	.	.	PUNCT
ftr-443	12	1	distributions	distribution	NOUN
ftr-443	12	2	not	not	PART
ftr-443	12	3	in	in	ADP
ftr-443	12	4	redemption	redemption	NOUN
ftr-443	12	5	of	of	ADP
ftr-443	12	6	stock	stock	NOUN
ftr-443	12	7	or	or	CCONJ
ftr-443	12	8	llc	llc	PROPN
ftr-443	12	9	interest	interest	NOUN
ftr-443	12	10	.....................	.....................	PUNCT
ftr-443	13	1	313	313	NUM
ftr-443	13	2	a.	a.	NOUN
ftr-443	13	3	from	from	ADP
ftr-443	13	4	s	s	PART
ftr-443	13	5	corporations	corporation	NOUN
ftr-443	13	6	...........	...........	PUNCT
ftr-443	13	7	313	313	NUM
ftr-443	13	8	b.	b.	PROPN
ftr-443	13	9	from	from	ADP
ftr-443	13	10	llcs	llcs	PROPN
ftr-443	13	11	..................	..................	PUNCT
ftr-443	14	1	314	314	NUM
ftr-443	14	2	*	*	PUNCT
ftr-443	14	3	august	august	PROPN
ftr-443	14	4	&	&	CCONJ
ftr-443	14	5	kultmas	kultma	NOUN
ftr-443	14	6	,	,	PUNCT
ftr-443	14	7	p.a	p.a	PROPN
ftr-443	14	8	.	.	PROPN
ftr-443	14	9	,	,	PUNCT
ftr-443	14	10	west	west	PROPN
ftr-443	14	11	palm	palm	PROPN
ftr-443	14	12	beach	beach	PROPN
ftr-443	14	13	,	,	PUNCT
ftr-443	14	14	florida	florida	PROPN
ftr-443	14	15	.	.	PUNCT
ftr-443	15	1	florida	florida	PROPN
ftr-443	15	2	tax	tax	PROPN
ftr-443	15	3	review	review	NOUN
ftr-443	15	4	14	14	NUM
ftr-443	15	5	.	.	PUNCT
ftr-443	16	1	redemptions	redemption	NOUN
ftr-443	16	2	of	of	ADP
ftr-443	16	3	stock	stock	NOUN
ftr-443	16	4	and	and	CCONJ
ftr-443	16	5	interests	interest	NOUN
ftr-443	16	6	.......	.......	PUNCT
ftr-443	17	1	316	316	NUM
ftr-443	17	2	a.	a.	NOUN
ftr-443	17	3	s	s	PART
ftr-443	17	4	corporations	corporation	NOUN
ftr-443	17	5	................	................	PUNCT
ftr-443	17	6	316	316	NUM
ftr-443	17	7	b.	b.	NOUN
ftr-443	17	8	redemption	redemption	NOUN
ftr-443	17	9	of	of	ADP
ftr-443	17	10	llc	llc	PROPN
ftr-443	17	11	interests	interest	NOUN
ftr-443	17	12	......	......	PUNCT
ftr-443	17	13	317	317	NUM
ftr-443	17	14	15	15	NUM
ftr-443	17	15	.	.	PUNCT
ftr-443	18	1	sales	sale	NOUN
ftr-443	18	2	or	or	CCONJ
ftr-443	18	3	exchanges	exchange	NOUN
ftr-443	18	4	of	of	ADP
ftr-443	18	5	equity	equity	NOUN
ftr-443	18	6	interests	interest	NOUN
ftr-443	18	7	.....	.....	PUNCT
ftr-443	18	8	317	317	NUM
ftr-443	18	9	a.	a.	NOUN
ftr-443	18	10	s	s	PART
ftr-443	18	11	corporations	corporation	NOUN
ftr-443	18	12	................	................	PUNCT
ftr-443	18	13	317	317	NUM
ftr-443	18	14	b.	b.	PROPN
ftr-443	18	15	limited	limit	VERB
ftr-443	18	16	liability	liability	NOUN
ftr-443	18	17	companies	company	NOUN
ftr-443	18	18	.......	.......	PUNCT
ftr-443	18	19	318	318	NUM
ftr-443	18	20	m.	m.	NOUN
ftr-443	18	21	where	where	SCONJ
ftr-443	18	22	art	art	NOUN
ftr-443	18	23	thou	thou	ADJ
ftr-443	18	24	subchapter	subchapter	NOUN
ftr-443	18	25	s	s	PART
ftr-443	18	26	?	?	PUNCT
ftr-443	18	27	..................	..................	PUNCT
ftr-443	19	1	319	319	NUM
ftr-443	19	2	iv	iv	NOUN
ftr-443	19	3	.	.	PUNCT
ftr-443	19	4	evolution	evolution	NOUN
ftr-443	19	5	of	of	ADP
ftr-443	19	6	subchapter	subchapter	NOUN
ftr-443	19	7	s	s	NOUN
ftr-443	19	8	:	:	PUNCT
ftr-443	19	9	why	why	SCONJ
ftr-443	19	10	congress	congress	PROPN
ftr-443	19	11	should	should	AUX
ftr-443	19	12	further	far	ADV
ftr-443	19	13	aid	aid	VERB
ftr-443	19	14	s	s	PART
ftr-443	19	15	corporations	corporation	NOUN
ftr-443	19	16	.............	.............	PUNCT
ftr-443	20	1	322	322	NUM
ftr-443	20	2	v.	v.	ADP
ftr-443	20	3	why	why	SCONJ
ftr-443	20	4	not	not	PART
ftr-443	20	5	repeal	repeal	VERB
ftr-443	20	6	subchapter	subchapter	NOUN
ftr-443	20	7	s	s	PART
ftr-443	20	8	?	?	PUNCT
ftr-443	20	9	..................	..................	PUNCT
ftr-443	21	1	331	331	NUM
ftr-443	21	2	a.	a.	NOUN
ftr-443	21	3	conversions	conversion	NOUN
ftr-443	21	4	to	to	PART
ftr-443	21	5	subchapter	subchapter	NOUN
ftr-443	21	6	s	s	PART
ftr-443	21	7	or	or	CCONJ
ftr-443	21	8	subchapter	subchapter	NOUN
ftr-443	21	9	k	k	NOUN
ftr-443	21	10	:	:	PUNCT
ftr-443	21	11	the	the	DET
ftr-443	21	12	practical	practical	ADJ
ftr-443	21	13	barriers	barrier	NOUN
ftr-443	21	14	......................	......................	PUNCT
ftr-443	22	1	331	331	NUM
ftr-443	22	2	b.	b.	PROPN
ftr-443	22	3	further	further	ADJ
ftr-443	22	4	reforms	reform	NOUN
ftr-443	22	5	to	to	PART
ftr-443	22	6	subchapter	subchapter	NOUN
ftr-443	22	7	s	s	PART
ftr-443	22	8	..............	..............	PROPN
ftr-443	22	9	333	333	NUM
ftr-443	22	10	1	1	NUM
ftr-443	22	11	.	.	PUNCT
ftr-443	23	1	reform	reform	NOUN
ftr-443	23	2	i	i	PRON
ftr-443	23	3	:	:	PUNCT
ftr-443	23	4	allow	allow	VERB
ftr-443	23	5	nonresident	nonresident	ADJ
ftr-443	23	6	aliens	alien	NOUN
ftr-443	23	7	to	to	PART
ftr-443	23	8	be	be	AUX
ftr-443	23	9	shareholders	shareholder	NOUN
ftr-443	23	10	of	of	ADP
ftr-443	23	11	an	an	DET
ftr-443	23	12	s	s	NOUN
ftr-443	23	13	corporation	corporation	NOUN
ftr-443	23	14	....	....	PUNCT
ftr-443	24	1	333	333	NUM
ftr-443	24	2	2	2	NUM
ftr-443	24	3	.	.	PUNCT
ftr-443	24	4	reform	reform	NOUN
ftr-443	24	5	11	11	NUM
ftr-443	24	6	.	.	PUNCT
ftr-443	25	1	allow	allow	VERB
ftr-443	25	2	an	an	DET
ftr-443	25	3	s	s	NOUN
ftr-443	25	4	corporation	corporation	NOUN
ftr-443	25	5	to	to	PART
ftr-443	25	6	issue	issue	VERB
ftr-443	25	7	plain	plain	ADJ
ftr-443	25	8	vanilla	vanilla	NOUN
ftr-443	25	9	preferred	prefer	VERB
ftr-443	25	10	stock	stock	NOUN
ftr-443	25	11	.......	.......	PUNCT
ftr-443	26	1	334	334	NUM
ftr-443	26	2	3	3	X
ftr-443	26	3	.	.	PUNCT
ftr-443	26	4	reform	reform	NOUN
ftr-443	26	5	111	111	NUM
ftr-443	26	6	:	:	PUNCT
ftr-443	26	7	further	further	ADJ
ftr-443	26	8	expansion	expansion	NOUN
ftr-443	26	9	of	of	ADP
ftr-443	26	10	straight	straight	ADJ
ftr-443	26	11	debt	debt	NOUN
ftr-443	26	12	.......................	.......................	PUNCT
ftr-443	27	1	334	334	NUM
ftr-443	27	2	4	4	X
ftr-443	27	3	.	.	PUNCT
ftr-443	27	4	reform	reform	NOUN
ftr-443	27	5	iv	iv	NUM
ftr-443	27	6	:	:	PUNCT
ftr-443	27	7	repeal	repeal	NOUN
ftr-443	27	8	termination	termination	NOUN
ftr-443	27	9	rule	rule	NOUN
ftr-443	27	10	for	for	ADP
ftr-443	27	11	excess	excess	ADJ
ftr-443	27	12	passive	passive	ADJ
ftr-443	27	13	investment	investment	NOUN
ftr-443	27	14	income	income	NOUN
ftr-443	27	15	........	........	PUNCT
ftr-443	28	1	335	335	NUM
ftr-443	28	2	5	5	NUM
ftr-443	28	3	.	.	PUNCT
ftr-443	28	4	reform	reform	NOUN
ftr-443	28	5	v	v	NOUN
ftr-443	28	6	:	:	PUNCT
ftr-443	28	7	repeal	repeal	NOUN
ftr-443	28	8	section	section	NOUN
ftr-443	28	9	752	752	NUM
ftr-443	28	10	for	for	ADP
ftr-443	28	11	partnerships	partnership	NOUN
ftr-443	28	12	.......................	.......................	PUNCT
ftr-443	28	13	335	335	NUM
ftr-443	28	14	vi	vi	NOUN
ftr-443	28	15	.	.	PUNCT
ftr-443	29	1	moving	move	VERB
ftr-443	29	2	towards	towards	ADP
ftr-443	29	3	a	a	DET
ftr-443	29	4	single	single	ADJ
ftr-443	29	5	regime	regime	NOUN
ftr-443	29	6	of	of	ADP
ftr-443	29	7	taxing	tax	VERB
ftr-443	29	8	private	private	ADJ
ftr-443	29	9	business	business	NOUN
ftr-443	29	10	enterprises	enterprise	NOUN
ftr-443	29	11	....................	....................	PUNCT
ftr-443	30	1	336	336	NUM
ftr-443	31	1	[	[	X
ftr-443	31	2	vol	vol	NOUN
ftr-443	31	3	4.3	4.3	NUM
ftr-443	31	4	benefits	benefit	NOUN
ftr-443	31	5	and	and	CCONJ
ftr-443	31	6	burdens	burden	NOUN
ftr-443	31	7	of	of	ADP
ftr-443	31	8	subchapter	subchapter	NOUN
ftr-443	31	9	s	s	PART
ftr-443	31	10	i.	i.	NOUN
ftr-443	31	11	introduction	introduction	NOUN
ftr-443	31	12	the	the	DET
ftr-443	31	13	treasury	treasury	NOUN
ftr-443	31	14	's	's	PART
ftr-443	31	15	issuance	issuance	NOUN
ftr-443	31	16	of	of	ADP
ftr-443	31	17	the	the	DET
ftr-443	31	18	check	check	VERB
ftr-443	31	19	-	-	PUNCT
ftr-443	31	20	the	the	DET
ftr-443	31	21	-	-	PUNCT
ftr-443	31	22	box	box	NOUN
ftr-443	31	23	regulations	regulation	NOUN
ftr-443	31	24	(	(	PUNCT
ftr-443	31	25	ctb	ctb	NOUN
ftr-443	31	26	)	)	PUNCT
ftr-443	31	27	in	in	ADP
ftr-443	31	28	late	late	ADJ
ftr-443	31	29	1996	1996	NUM
ftr-443	31	30	'	'	PUNCT
ftr-443	31	31	has	have	AUX
ftr-443	31	32	intensified	intensify	VERB
ftr-443	31	33	debate	debate	NOUN
ftr-443	31	34	about	about	ADP
ftr-443	31	35	whether	whether	SCONJ
ftr-443	31	36	there	there	PRON
ftr-443	31	37	should	should	AUX
ftr-443	31	38	be	be	AUX
ftr-443	31	39	a	a	DET
ftr-443	31	40	single	single	ADJ
ftr-443	31	41	federal	federal	ADJ
ftr-443	31	42	income	income	NOUN
ftr-443	31	43	tax	tax	NOUN
ftr-443	31	44	regime	regime	NOUN
ftr-443	31	45	for	for	ADP
ftr-443	31	46	all	all	DET
ftr-443	31	47	private	private	ADJ
ftr-443	31	48	business	business	NOUN
ftr-443	31	49	firms	firm	NOUN
ftr-443	31	50	(	(	PUNCT
ftr-443	31	51	pbfs	pbfs	NOUN
ftr-443	31	52	)	)	PUNCT
ftr-443	31	53	,	,	PUNCT
ftr-443	31	54	including	include	VERB
ftr-443	31	55	passthrough	passthrough	NOUN
ftr-443	31	56	entities	entity	NOUN
ftr-443	31	57	,	,	PUNCT
ftr-443	31	58	whose	whose	DET
ftr-443	31	59	equity	equity	NOUN
ftr-443	31	60	interests	interest	NOUN
ftr-443	31	61	are	be	AUX
ftr-443	31	62	not	not	PART
ftr-443	31	63	publicly	publicly	ADV
ftr-443	31	64	traded.2	traded.2	VERB
ftr-443	31	65	this	this	DET
ftr-443	31	66	revived	revive	VERB
ftr-443	31	67	concern	concern	NOUN
ftr-443	31	68	for	for	ADP
ftr-443	31	69	parity	parity	NOUN
ftr-443	31	70	in	in	ADP
ftr-443	31	71	tax	tax	NOUN
ftr-443	31	72	treatment	treatment	NOUN
ftr-443	31	73	among	among	ADP
ftr-443	31	74	the	the	DET
ftr-443	31	75	various	various	ADJ
ftr-443	31	76	forms	form	NOUN
ftr-443	31	77	of	of	ADP
ftr-443	31	78	passthrough	passthrough	NOUN
ftr-443	31	79	entities	entity	NOUN
ftr-443	31	80	arose	arise	VERB
ftr-443	31	81	because	because	SCONJ
ftr-443	31	82	the	the	DET
ftr-443	31	83	ctb	ctb	NOUN
ftr-443	31	84	regulations	regulation	NOUN
ftr-443	31	85	generally	generally	ADV
ftr-443	31	86	allow	allow	VERB
ftr-443	31	87	a	a	DET
ftr-443	31	88	business	business	NOUN
ftr-443	31	89	entity	entity	NOUN
ftr-443	31	90	with	with	ADP
ftr-443	31	91	two	two	NUM
ftr-443	31	92	or	or	CCONJ
ftr-443	31	93	more	more	ADJ
ftr-443	31	94	owners	owner	NOUN
ftr-443	31	95	to	to	PART
ftr-443	31	96	be	be	AUX
ftr-443	31	97	taxed	tax	VERB
ftr-443	31	98	as	as	ADP
ftr-443	31	99	a	a	DET
ftr-443	31	100	partnership	partnership	NOUN
ftr-443	31	101	for	for	ADP
ftr-443	31	102	federal	federal	ADJ
ftr-443	31	103	income	income	NOUN
ftr-443	31	104	tax	tax	NOUN
ftr-443	31	105	purposes	purpose	NOUN
ftr-443	31	106	,	,	PUNCT
ftr-443	31	107	regardless	regardless	ADV
ftr-443	31	108	of	of	ADP
ftr-443	31	109	its	its	PRON
ftr-443	31	110	organizational	organizational	ADJ
ftr-443	31	111	structure	structure	NOUN
ftr-443	31	112	and	and	CCONJ
ftr-443	31	113	corporate	corporate	ADJ
ftr-443	31	114	-	-	PUNCT
ftr-443	31	115	like	like	ADJ
ftr-443	31	116	characteristics	characteristic	NOUN
ftr-443	31	117	under	under	ADP
ftr-443	31	118	state	state	NOUN
ftr-443	31	119	law.3	law.3	PROPN
ftr-443	31	120	before	before	ADP
ftr-443	31	121	the	the	DET
ftr-443	31	122	ctb	ctb	PROPN
ftr-443	31	123	regulations	regulation	NOUN
ftr-443	31	124	,	,	PUNCT
ftr-443	31	125	unincorporated	unincorporated	ADJ
ftr-443	31	126	entities	entity	NOUN
ftr-443	31	127	were	be	AUX
ftr-443	31	128	required	require	VERB
ftr-443	31	129	to	to	PART
ftr-443	31	130	maintain	maintain	VERB
ftr-443	31	131	at	at	ADP
ftr-443	31	132	least	least	ADV
ftr-443	31	133	two	two	NUM
ftr-443	31	134	noncorporate	noncorporate	ADJ
ftr-443	31	135	characteristics	characteristic	NOUN
ftr-443	31	136	in	in	ADP
ftr-443	31	137	order	order	NOUN
ftr-443	31	138	to	to	PART
ftr-443	31	139	avoid	avoid	VERB
ftr-443	31	140	the	the	DET
ftr-443	31	141	double	double	ADJ
ftr-443	31	142	tax	tax	NOUN
ftr-443	31	143	regime	regime	NOUN
ftr-443	31	144	of	of	ADP
ftr-443	31	145	subchapter	subchapter	PROPN
ftr-443	31	146	c.	c.	PROPN
ftr-443	31	147	'	'	PUNCT
ftr-443	32	1	1	1	NUM
ftr-443	32	2	.	.	X
ftr-443	32	3	61	61	NUM
ftr-443	33	1	fed	feed	VERB
ftr-443	33	2	.	.	PUNCT
ftr-443	34	1	reg	reg	PROPN
ftr-443	34	2	.	.	PUNCT
ftr-443	35	1	66,588	66,588	NUM
ftr-443	35	2	(	(	PUNCT
ftr-443	35	3	1996	1996	NUM
ftr-443	35	4	)	)	PUNCT
ftr-443	35	5	,	,	PUNCT
ftr-443	35	6	revising	revise	VERB
ftr-443	35	7	regs	reg	NOUN
ftr-443	35	8	.	.	PUNCT
ftr-443	36	1	§	§	PROPN
ftr-443	36	2	§	§	PROPN
ftr-443	36	3	301.7701	301.7701	NUM
ftr-443	36	4	-	-	SYM
ftr-443	36	5	1	1	NUM
ftr-443	36	6	,	,	PUNCT
ftr-443	36	7	-2	-2	INTJ
ftr-443	36	8	,	,	PUNCT
ftr-443	36	9	-3	-3	PUNCT
ftr-443	36	10	.	.	PUNCT
ftr-443	37	1	the	the	DET
ftr-443	37	2	effective	effective	ADJ
ftr-443	37	3	date	date	NOUN
ftr-443	37	4	of	of	ADP
ftr-443	37	5	the	the	DET
ftr-443	37	6	regulations	regulation	NOUN
ftr-443	37	7	was	be	AUX
ftr-443	37	8	january	january	PROPN
ftr-443	37	9	1	1	NUM
ftr-443	37	10	,	,	PUNCT
ftr-443	37	11	1997	1997	NUM
ftr-443	37	12	.	.	PUNCT
ftr-443	38	1	see	see	AUX
ftr-443	38	2	also	also	ADV
ftr-443	38	3	notice	notice	VERB
ftr-443	38	4	95	95	NUM
ftr-443	38	5	-	-	SYM
ftr-443	38	6	14	14	NUM
ftr-443	38	7	,	,	PUNCT
ftr-443	38	8	1995	1995	NUM
ftr-443	38	9	-	-	SYM
ftr-443	38	10	1	1	NUM
ftr-443	38	11	c.b	c.b	PROPN
ftr-443	38	12	.	.	PROPN
ftr-443	38	13	297	297	NUM
ftr-443	38	14	.	.	PUNCT
ftr-443	39	1	see	see	VERB
ftr-443	39	2	regs	reg	NOUN
ftr-443	39	3	.	.	PUNCT
ftr-443	40	1	§	§	PROPN
ftr-443	40	2	§	§	PROPN
ftr-443	40	3	301.7701	301.7701	NUM
ftr-443	40	4	-	-	SYM
ftr-443	40	5	1(f	1(f	NUM
ftr-443	40	6	)	)	PUNCT
ftr-443	40	7	,	,	PUNCT
ftr-443	40	8	301.7701	301.7701	NUM
ftr-443	40	9	-	-	SYM
ftr-443	40	10	2(e	2(e	NUM
ftr-443	40	11	)	)	PUNCT
ftr-443	40	12	,	,	PUNCT
ftr-443	40	13	301.7701	301.7701	NUM
ftr-443	40	14	-	-	SYM
ftr-443	40	15	3(0(1	3(0(1	NUM
ftr-443	40	16	)	)	PUNCT
ftr-443	40	17	.	.	PUNCT
ftr-443	41	1	for	for	ADP
ftr-443	41	2	extended	extended	ADJ
ftr-443	41	3	discussions	discussion	NOUN
ftr-443	41	4	of	of	ADP
ftr-443	41	5	the	the	DET
ftr-443	41	6	regulations	regulation	NOUN
ftr-443	41	7	,	,	PUNCT
ftr-443	41	8	see	see	VERB
ftr-443	41	9	mary	mary	PROPN
ftr-443	41	10	a.	a.	PROPN
ftr-443	41	11	mcnulty	mcnulty	PROPN
ftr-443	41	12	,	,	PUNCT
ftr-443	41	13	entity	entity	NOUN
ftr-443	41	14	classification	classification	NOUN
ftr-443	41	15	:	:	PUNCT
ftr-443	41	16	final	final	ADJ
ftr-443	41	17	check	check	NOUN
ftr-443	41	18	-	-	PUNCT
ftr-443	41	19	the	the	DET
ftr-443	41	20	-	-	PUNCT
ftr-443	41	21	box	box	NOUN
ftr-443	41	22	regulations	regulation	NOUN
ftr-443	41	23	issued	issue	VERB
ftr-443	41	24	,	,	PUNCT
ftr-443	41	25	9	9	NUM
ftr-443	41	26	j.	j.	PROPN
ftr-443	41	27	s	s	PROPN
ftr-443	41	28	corp	corp	PROPN
ftr-443	41	29	.	.	PROPN
ftr-443	41	30	tax'n	tax'n	ADV
ftr-443	41	31	60	60	NUM
ftr-443	41	32	(	(	PUNCT
ftr-443	41	33	1997	1997	NUM
ftr-443	41	34	)	)	PUNCT
ftr-443	41	35	;	;	PUNCT
ftr-443	41	36	roger	roger	PROPN
ftr-443	41	37	f.	f.	PROPN
ftr-443	41	38	pillow	pillow	PROPN
ftr-443	41	39	et	et	PROPN
ftr-443	41	40	al	al	PROPN
ftr-443	41	41	.	.	PROPN
ftr-443	41	42	,	,	PUNCT
ftr-443	41	43	simplified	simplify	VERB
ftr-443	41	44	entity	entity	NOUN
ftr-443	41	45	classification	classification	NOUN
ftr-443	41	46	under	under	ADP
ftr-443	41	47	the	the	DET
ftr-443	41	48	final	final	ADJ
ftr-443	41	49	check	check	NOUN
ftr-443	41	50	-	-	PUNCT
ftr-443	41	51	the	the	DET
ftr-443	41	52	-	-	PUNCT
ftr-443	41	53	box	box	NOUN
ftr-443	41	54	regulations	regulation	NOUN
ftr-443	41	55	,	,	PUNCT
ftr-443	41	56	86	86	NUM
ftr-443	41	57	j.	j.	PROPN
ftr-443	41	58	tax'n	tax'n	ADP
ftr-443	41	59	197	197	NUM
ftr-443	41	60	(	(	PUNCT
ftr-443	41	61	1997	1997	NUM
ftr-443	41	62	)	)	PUNCT
ftr-443	41	63	;	;	PUNCT
ftr-443	41	64	george	george	PROPN
ftr-443	41	65	k.	k.	PROPN
ftr-443	41	66	yin	yin	PROPN
ftr-443	41	67	,	,	PUNCT
ftr-443	41	68	the	the	DET
ftr-443	41	69	taxation	taxation	NOUN
ftr-443	41	70	of	of	ADP
ftr-443	41	71	private	private	ADJ
ftr-443	41	72	business	business	NOUN
ftr-443	41	73	enterprises	enterprise	NOUN
ftr-443	41	74	:	:	PUNCT
ftr-443	41	75	some	some	DET
ftr-443	41	76	policy	policy	NOUN
ftr-443	41	77	questions	question	NOUN
ftr-443	41	78	stimulated	stimulate	VERB
ftr-443	41	79	by	by	ADP
ftr-443	41	80	the	the	DET
ftr-443	41	81	"	"	PUNCT
ftr-443	41	82	checkthe	checkthe	ADJ
ftr-443	41	83	-	-	PUNCT
ftr-443	41	84	box	box	NOUN
ftr-443	41	85	"	"	PUNCT
ftr-443	41	86	regulations	regulation	NOUN
ftr-443	41	87	,	,	PUNCT
ftr-443	41	88	51	51	NUM
ftr-443	41	89	smu	smu	PROPN
ftr-443	41	90	l.	l.	PROPN
ftr-443	41	91	rev	rev	PROPN
ftr-443	41	92	.	.	PROPN
ftr-443	41	93	125	125	NUM
ftr-443	41	94	(	(	PUNCT
ftr-443	41	95	1997	1997	NUM
ftr-443	41	96	)	)	PUNCT
ftr-443	41	97	.	.	PUNCT
ftr-443	42	1	2	2	X
ftr-443	42	2	.	.	X
ftr-443	42	3	a	a	DET
ftr-443	42	4	partial	partial	ADJ
ftr-443	42	5	list	list	NOUN
ftr-443	42	6	of	of	ADP
ftr-443	42	7	tax	tax	NOUN
ftr-443	42	8	regimes	regime	NOUN
ftr-443	42	9	for	for	ADP
ftr-443	42	10	business	business	NOUN
ftr-443	42	11	entities	entity	NOUN
ftr-443	42	12	includes	include	VERB
ftr-443	42	13	c	c	NOUN
ftr-443	42	14	corporations	corporation	NOUN
ftr-443	42	15	,	,	PUNCT
ftr-443	42	16	s	s	VERB
ftr-443	42	17	corporations	corporation	NOUN
ftr-443	42	18	,	,	PUNCT
ftr-443	42	19	partnerships	partnership	NOUN
ftr-443	42	20	(	(	PUNCT
ftr-443	42	21	and	and	CCONJ
ftr-443	42	22	all	all	DET
ftr-443	42	23	entities	entity	NOUN
ftr-443	42	24	eligible	eligible	ADJ
ftr-443	42	25	to	to	PART
ftr-443	42	26	file	file	VERB
ftr-443	42	27	as	as	ADP
ftr-443	42	28	partnerships	partnership	NOUN
ftr-443	42	29	)	)	PUNCT
ftr-443	42	30	,	,	PUNCT
ftr-443	42	31	real	real	ADJ
ftr-443	42	32	estate	estate	NOUN
ftr-443	42	33	investment	investment	NOUN
ftr-443	42	34	trusts	trust	NOUN
ftr-443	42	35	(	(	PUNCT
ftr-443	42	36	reits	reit	NOUN
ftr-443	42	37	)	)	PUNCT
ftr-443	42	38	,	,	PUNCT
ftr-443	42	39	regulated	regulate	VERB
ftr-443	42	40	investment	investment	NOUN
ftr-443	42	41	companies	company	NOUN
ftr-443	42	42	(	(	PUNCT
ftr-443	42	43	rics	rics	NOUN
ftr-443	42	44	)	)	PUNCT
ftr-443	42	45	,	,	PUNCT
ftr-443	42	46	fixed	fix	VERB
ftr-443	42	47	investment	investment	NOUN
ftr-443	42	48	trusts	trust	NOUN
ftr-443	42	49	,	,	PUNCT
ftr-443	42	50	financial	financial	ADJ
ftr-443	42	51	asset	asset	NOUN
ftr-443	42	52	securitization	securitization	NOUN
ftr-443	42	53	investment	investment	NOUN
ftr-443	42	54	trusts	trust	NOUN
ftr-443	42	55	(	(	PUNCT
ftr-443	42	56	fasits	fasit	NOUN
ftr-443	42	57	)	)	PUNCT
ftr-443	42	58	,	,	PUNCT
ftr-443	42	59	and	and	CCONJ
ftr-443	42	60	real	real	ADJ
ftr-443	42	61	estate	estate	NOUN
ftr-443	42	62	mortgage	mortgage	NOUN
ftr-443	42	63	investment	investment	NOUN
ftr-443	42	64	conduits	conduit	NOUN
ftr-443	42	65	(	(	PUNCT
ftr-443	42	66	remics	remic	NOUN
ftr-443	42	67	)	)	PUNCT
ftr-443	42	68	.	.	PUNCT
ftr-443	43	1	for	for	ADP
ftr-443	43	2	discussion	discussion	NOUN
ftr-443	43	3	of	of	ADP
ftr-443	43	4	the	the	DET
ftr-443	43	5	future	future	NOUN
ftr-443	43	6	of	of	ADP
ftr-443	43	7	more	more	ADV
ftr-443	43	8	exotic	exotic	ADJ
ftr-443	43	9	tax	tax	NOUN
ftr-443	43	10	entities	entity	NOUN
ftr-443	43	11	.	.	PUNCT
ftr-443	44	1	see	see	VERB
ftr-443	44	2	willard	willard	PROPN
ftr-443	44	3	b.	b.	PROPN
ftr-443	44	4	taylor	taylor	PROPN
ftr-443	44	5	,	,	PUNCT
ftr-443	44	6	beyond	beyond	ADP
ftr-443	44	7	check	check	NOUN
ftr-443	44	8	-	-	PUNCT
ftr-443	44	9	the	the	DET
ftr-443	44	10	-	-	PUNCT
ftr-443	44	11	box	box	NOUN
ftr-443	44	12	-	-	PUNCT
ftr-443	44	13	neglected	neglect	VERB
ftr-443	44	14	issues	issue	NOUN
ftr-443	44	15	,	,	PUNCT
ftr-443	44	16	75	75	NUM
ftr-443	44	17	taxes	taxis	NOUN
ftr-443	44	18	671	671	NUM
ftr-443	44	19	(	(	PUNCT
ftr-443	44	20	1997	1997	NUM
ftr-443	44	21	)	)	PUNCT
ftr-443	44	22	.	.	PUNCT
ftr-443	45	1	3	3	X
ftr-443	45	2	.	.	X
ftr-443	45	3	alternatively	alternatively	ADV
ftr-443	45	4	,	,	PUNCT
ftr-443	45	5	a	a	DET
ftr-443	45	6	business	business	NOUN
ftr-443	45	7	entity	entity	NOUN
ftr-443	45	8	may	may	AUX
ftr-443	45	9	elect	elect	VERB
ftr-443	45	10	to	to	PART
ftr-443	45	11	be	be	AUX
ftr-443	45	12	taxed	tax	VERB
ftr-443	45	13	as	as	ADP
ftr-443	45	14	an	an	DET
ftr-443	45	15	association	association	NOUN
ftr-443	45	16	.	.	PUNCT
ftr-443	46	1	this	this	DET
ftr-443	46	2	election	election	NOUN
ftr-443	46	3	is	be	AUX
ftr-443	46	4	reminiscent	reminiscent	ADJ
ftr-443	46	5	of	of	ADP
ftr-443	46	6	the	the	DET
ftr-443	46	7	former	former	ADJ
ftr-443	46	8	§	§	PROPN
ftr-443	46	9	1361	1361	NUM
ftr-443	46	10	,	,	PUNCT
ftr-443	46	11	which	which	PRON
ftr-443	46	12	was	be	AUX
ftr-443	46	13	enacted	enact	VERB
ftr-443	46	14	in	in	ADP
ftr-443	46	15	1958	1958	NUM
ftr-443	46	16	to	to	PART
ftr-443	46	17	allow	allow	VERB
ftr-443	46	18	partnerships	partnership	NOUN
ftr-443	46	19	to	to	PART
ftr-443	46	20	elect	elect	VERB
ftr-443	46	21	to	to	PART
ftr-443	46	22	be	be	AUX
ftr-443	46	23	taxed	tax	VERB
ftr-443	46	24	as	as	ADP
ftr-443	46	25	corporations	corporation	NOUN
ftr-443	46	26	but	but	CCONJ
ftr-443	46	27	was	be	AUX
ftr-443	46	28	repealed	repeal	VERB
ftr-443	46	29	in	in	ADP
ftr-443	46	30	1966	1966	NUM
ftr-443	46	31	,	,	PUNCT
ftr-443	46	32	largely	largely	ADV
ftr-443	46	33	for	for	ADP
ftr-443	46	34	lack	lack	NOUN
ftr-443	46	35	of	of	ADP
ftr-443	46	36	use	use	NOUN
ftr-443	46	37	.	.	PUNCT
ftr-443	47	1	see	see	VERB
ftr-443	47	2	small	small	ADJ
ftr-443	47	3	business	business	NOUN
ftr-443	47	4	tax	tax	NOUN
ftr-443	47	5	revision	revision	NOUN
ftr-443	47	6	act	act	NOUN
ftr-443	47	7	of	of	ADP
ftr-443	47	8	1958	1958	NUM
ftr-443	47	9	,	,	PUNCT
ftr-443	47	10	pub	pub	NOUN
ftr-443	47	11	.	.	PUNCT
ftr-443	48	1	l.	l.	PROPN
ftr-443	48	2	no	no	INTJ
ftr-443	48	3	.	.	PROPN
ftr-443	48	4	85	85	NUM
ftr-443	48	5	-	-	SYM
ftr-443	48	6	866	866	NUM
ftr-443	48	7	,	,	PUNCT
ftr-443	48	8	§	§	PROPN
ftr-443	48	9	63	63	NUM
ftr-443	48	10	,	,	PUNCT
ftr-443	48	11	72	72	NUM
ftr-443	48	12	stat	stat	NOUN
ftr-443	48	13	.	.	PUNCT
ftr-443	49	1	1606	1606	NUM
ftr-443	49	2	;	;	PUNCT
ftr-443	50	1	pub	pub	NOUN
ftr-443	50	2	.	.	PUNCT
ftr-443	51	1	l	l	NOUN
ftr-443	52	1	no	no	INTJ
ftr-443	52	2	.	.	NOUN
ftr-443	52	3	89	89	NUM
ftr-443	52	4	-	-	SYM
ftr-443	52	5	389	389	NUM
ftr-443	52	6	,	,	PUNCT
ftr-443	52	7	§	§	PROPN
ftr-443	52	8	4(b)(1	4(b)(1	NUM
ftr-443	52	9	)	)	PUNCT
ftr-443	52	10	,	,	PUNCT
ftr-443	52	11	80	80	NUM
ftr-443	52	12	stat	stat	NOUN
ftr-443	52	13	111	111	NUM
ftr-443	52	14	(	(	PUNCT
ftr-443	52	15	1966	1966	NUM
ftr-443	52	16	)	)	PUNCT
ftr-443	52	17	.	.	PUNCT
ftr-443	53	1	4	4	X
ftr-443	53	2	.	.	X
ftr-443	54	1	under	under	ADP
ftr-443	54	2	the	the	DET
ftr-443	54	3	former	former	ADJ
ftr-443	54	4	regulations	regulation	NOUN
ftr-443	54	5	,	,	PUNCT
ftr-443	54	6	an	an	DET
ftr-443	54	7	unincorporated	unincorporated	ADJ
ftr-443	54	8	entity	entity	NOUN
ftr-443	54	9	(	(	PUNCT
ftr-443	54	10	other	other	ADJ
ftr-443	54	11	than	than	ADP
ftr-443	54	12	a	a	DET
ftr-443	54	13	trust	trust	NOUN
ftr-443	54	14	)	)	PUNCT
ftr-443	54	15	was	be	AUX
ftr-443	54	16	classified	classify	VERB
ftr-443	54	17	as	as	ADP
ftr-443	54	18	an	an	DET
ftr-443	54	19	association	association	NOUN
ftr-443	54	20	,	,	PUNCT
ftr-443	54	21	taxable	taxable	ADJ
ftr-443	54	22	as	as	ADP
ftr-443	54	23	an	an	DET
ftr-443	54	24	association	association	NOUN
ftr-443	54	25	,	,	PUNCT
ftr-443	54	26	if	if	SCONJ
ftr-443	54	27	it	it	PRON
ftr-443	54	28	exhibited	exhibit	VERB
ftr-443	54	29	three	three	NUM
ftr-443	54	30	of	of	ADP
ftr-443	54	31	the	the	DET
ftr-443	54	32	four	four	NUM
ftr-443	54	33	corporate	corporate	ADJ
ftr-443	54	34	characteristics	characteristic	NOUN
ftr-443	54	35	of	of	ADP
ftr-443	54	36	(	(	PUNCT
ftr-443	54	37	1	1	NUM
ftr-443	54	38	)	)	PUNCT
ftr-443	54	39	free	free	ADJ
ftr-443	54	40	transferability	transferability	NOUN
ftr-443	54	41	of	of	ADP
ftr-443	54	42	interest	interest	NOUN
ftr-443	54	43	,	,	PUNCT
ftr-443	54	44	(	(	PUNCT
ftr-443	54	45	2	2	X
ftr-443	54	46	)	)	PUNCT
ftr-443	54	47	continuity	continuity	NOUN
ftr-443	54	48	of	of	ADP
ftr-443	54	49	life	life	NOUN
ftr-443	54	50	,	,	PUNCT
ftr-443	54	51	(	(	PUNCT
ftr-443	54	52	3	3	X
ftr-443	54	53	)	)	PUNCT
ftr-443	54	54	centralized	centralized	ADJ
ftr-443	54	55	management	management	NOUN
ftr-443	54	56	,	,	PUNCT
ftr-443	54	57	and	and	CCONJ
ftr-443	54	58	(	(	PUNCT
ftr-443	54	59	4	4	X
ftr-443	54	60	)	)	PUNCT
ftr-443	54	61	limited	limited	ADJ
ftr-443	54	62	liability	liability	NOUN
ftr-443	54	63	.	.	PUNCT
ftr-443	55	1	a	a	DET
ftr-443	55	2	trust	trust	NOUN
ftr-443	55	3	was	be	AUX
ftr-443	55	4	an	an	DET
ftr-443	55	5	association	association	NOUN
ftr-443	55	6	if	if	SCONJ
ftr-443	55	7	it	it	PRON
ftr-443	55	8	possessed	possess	VERB
ftr-443	55	9	two	two	NUM
ftr-443	55	10	corporate	corporate	ADJ
ftr-443	55	11	characteristics	characteristic	NOUN
ftr-443	55	12	:	:	PUNCT
ftr-443	55	13	(	(	PUNCT
ftr-443	55	14	1	1	X
ftr-443	55	15	)	)	PUNCT
ftr-443	55	16	beneficiaries	beneficiary	NOUN
ftr-443	55	17	acting	act	VERB
ftr-443	55	18	as	as	ADP
ftr-443	55	19	"	"	PUNCT
ftr-443	55	20	associates	associate	NOUN
ftr-443	55	21	"	"	PUNCT
ftr-443	55	22	and	and	CCONJ
ftr-443	55	23	(	(	PUNCT
ftr-443	55	24	2	2	X
ftr-443	55	25	)	)	PUNCT
ftr-443	55	26	an	an	DET
ftr-443	55	27	objective	objective	NOUN
ftr-443	55	28	to	to	PART
ftr-443	55	29	carry	carry	VERB
ftr-443	55	30	on	on	ADP
ftr-443	55	31	business	business	NOUN
ftr-443	55	32	and	and	CCONJ
ftr-443	55	33	divide	divide	VERB
ftr-443	55	34	the	the	DET
ftr-443	55	35	gains	gain	NOUN
ftr-443	55	36	therefrom	therefrom	NOUN
ftr-443	55	37	.	.	PUNCT
ftr-443	56	1	see	see	VERB
ftr-443	56	2	regs	reg	NOUN
ftr-443	56	3	.	.	PUNCT
ftr-443	57	1	§	§	PROPN
ftr-443	57	2	301.7701	301.7701	NUM
ftr-443	57	3	-	-	SYM
ftr-443	57	4	2(a)(2	2(a)(2	NUM
ftr-443	57	5	)	)	PUNCT
ftr-443	57	6	(	(	PUNCT
ftr-443	57	7	1954	1954	NUM
ftr-443	57	8	)	)	PUNCT
ftr-443	57	9	(	(	PUNCT
ftr-443	57	10	before	before	ADP
ftr-443	57	11	amendment	amendment	NOUN
ftr-443	57	12	in	in	ADP
ftr-443	57	13	1996	1996	NUM
ftr-443	57	14	)	)	PUNCT
ftr-443	57	15	;	;	PUNCT
ftr-443	57	16	estate	estate	NOUN
ftr-443	57	17	of	of	ADP
ftr-443	57	18	harry	harry	PROPN
ftr-443	57	19	m.	m.	PROPN
ftr-443	57	20	bedell	bedell	PROPN
ftr-443	57	21	,	,	PUNCT
ftr-443	57	22	sr	sr	PROPN
ftr-443	57	23	.	.	PROPN
ftr-443	57	24	,	,	PUNCT
ftr-443	57	25	trust	trust	PROPN
ftr-443	57	26	v.	v.	PROPN
ftr-443	57	27	commissioner	commissioner	PROPN
ftr-443	57	28	,	,	PUNCT
ftr-443	57	29	86	86	NUM
ftr-443	57	30	t.c	t.c	PROPN
ftr-443	57	31	.	.	PROPN
ftr-443	57	32	1207	1207	NUM
ftr-443	57	33	,	,	PUNCT
ftr-443	57	34	1216	1216	NUM
ftr-443	57	35	-	-	SYM
ftr-443	57	36	17	17	NUM
ftr-443	57	37	(	(	PUNCT
ftr-443	57	38	1986	1986	NUM
ftr-443	57	39	)	)	PUNCT
ftr-443	57	40	,	,	PUNCT
ftr-443	57	41	acq	acq	PROPN
ftr-443	57	42	.	.	PROPN
ftr-443	57	43	,	,	PUNCT
ftr-443	57	44	1987	1987	NUM
ftr-443	57	45	-	-	SYM
ftr-443	57	46	2	2	NUM
ftr-443	57	47	c.b	c.b	PROPN
ftr-443	57	48	.	.	PROPN
ftr-443	57	49	1	1	NUM
ftr-443	57	50	.	.	PUNCT
ftr-443	58	1	under	under	ADP
ftr-443	58	2	the	the	DET
ftr-443	58	3	ctb	ctb	NOUN
ftr-443	58	4	regulations	regulation	NOUN
ftr-443	58	5	,	,	PUNCT
ftr-443	58	6	a	a	DET
ftr-443	58	7	trust	trust	NOUN
ftr-443	58	8	is	be	AUX
ftr-443	58	9	an	an	DET
ftr-443	58	10	"	"	PUNCT
ftr-443	58	11	arrangement	arrangement	NOUN
ftr-443	58	12	"	"	PUNCT
ftr-443	58	13	whose	whose	DET
ftr-443	58	14	purpose	purpose	NOUN
ftr-443	58	15	is	be	AUX
ftr-443	58	16	to	to	PART
ftr-443	58	17	vest	vest	VERB
ftr-443	58	18	in	in	ADP
ftr-443	58	19	trustees	trustee	NOUN
ftr-443	58	20	responsibility	responsibility	NOUN
ftr-443	58	21	for	for	ADP
ftr-443	58	22	the	the	DET
ftr-443	58	23	protection	protection	NOUN
ftr-443	58	24	and	and	CCONJ
ftr-443	58	25	conservation	conservation	NOUN
ftr-443	58	26	of	of	ADP
ftr-443	58	27	the	the	DET
ftr-443	58	28	trust	trust	NOUN
ftr-443	58	29	's	's	PART
ftr-443	58	30	assets	asset	NOUN
ftr-443	58	31	for	for	ADP
ftr-443	58	32	its	its	PRON
ftr-443	58	33	beneficiaries	beneficiary	NOUN
ftr-443	58	34	.	.	PUNCT
ftr-443	59	1	see	see	VERB
ftr-443	59	2	regs	reg	NOUN
ftr-443	59	3	.	.	PUNCT
ftr-443	60	1	§	§	PROPN
ftr-443	60	2	301.7701	301.7701	NUM
ftr-443	60	3	-	-	SYM
ftr-443	60	4	4(a	4(a	NUM
ftr-443	60	5	)	)	PUNCT
ftr-443	60	6	.	.	PUNCT
ftr-443	61	1	a	a	DET
ftr-443	61	2	"	"	PUNCT
ftr-443	61	3	business	business	NOUN
ftr-443	61	4	trust	trust	NOUN
ftr-443	61	5	,	,	PUNCT
ftr-443	61	6	"	"	PUNCT
ftr-443	61	7	which	which	PRON
ftr-443	61	8	otherwise	otherwise	ADV
ftr-443	61	9	may	may	AUX
ftr-443	61	10	fall	fall	VERB
ftr-443	61	11	into	into	ADP
ftr-443	61	12	the	the	DET
ftr-443	61	13	association	association	NOUN
ftr-443	61	14	abyss	abyss	NOUN
ftr-443	61	15	,	,	PUNCT
ftr-443	61	16	may	may	AUX
ftr-443	61	17	elect	elect	VERB
ftr-443	61	18	to	to	PART
ftr-443	61	19	be	be	AUX
ftr-443	61	20	treated	treat	VERB
ftr-443	61	21	as	as	ADP
ftr-443	61	22	a	a	DET
ftr-443	61	23	"	"	PUNCT
ftr-443	61	24	business	business	NOUN
ftr-443	61	25	entity	entity	NOUN
ftr-443	61	26	"	"	PUNCT
ftr-443	61	27	under	under	ADP
ftr-443	61	28	ctb	ctb	NOUN
ftr-443	61	29	regulations	regulation	NOUN
ftr-443	61	30	,	,	PUNCT
ftr-443	61	31	allowing	allow	VERB
ftr-443	61	32	it	it	PRON
ftr-443	61	33	to	to	PART
ftr-443	61	34	elect	elect	VERB
ftr-443	61	35	partnership	partnership	NOUN
ftr-443	61	36	status	status	NOUN
ftr-443	61	37	.	.	PUNCT
ftr-443	62	1	see	see	VERB
ftr-443	62	2	regs	reg	NOUN
ftr-443	62	3	.	.	PUNCT
ftr-443	63	1	§	§	PROPN
ftr-443	63	2	301.7701	301.7701	NUM
ftr-443	63	3	-	-	SYM
ftr-443	63	4	4(b	4(b	NUM
ftr-443	63	5	)	)	PUNCT
ftr-443	63	6	.	.	PUNCT
ftr-443	64	1	19991	19991	NUM
ftr-443	64	2	florida	florida	PROPN
ftr-443	64	3	tax	tax	PROPN
ftr-443	64	4	review	review	NOUN
ftr-443	64	5	revenue	revenue	NOUN
ftr-443	64	6	ruling	rule	VERB
ftr-443	64	7	88	88	NUM
ftr-443	64	8	-	-	SYM
ftr-443	64	9	76	76	NUM
ftr-443	64	10	,	,	PUNCT
ftr-443	64	11	'	'	PUNCT
ftr-443	64	12	which	which	PRON
ftr-443	64	13	permitted	permit	VERB
ftr-443	64	14	limited	limited	ADJ
ftr-443	64	15	liability	liability	NOUN
ftr-443	64	16	companies	company	NOUN
ftr-443	64	17	(	(	PUNCT
ftr-443	64	18	llcs	llcs	NOUN
ftr-443	64	19	)	)	PUNCT
ftr-443	64	20	to	to	PART
ftr-443	64	21	achieve	achieve	VERB
ftr-443	64	22	partnership	partnership	NOUN
ftr-443	64	23	tax	tax	NOUN
ftr-443	64	24	status	status	NOUN
ftr-443	64	25	under	under	ADP
ftr-443	64	26	the	the	DET
ftr-443	64	27	former	former	ADJ
ftr-443	64	28	regulations	regulation	NOUN
ftr-443	64	29	,	,	PUNCT
ftr-443	64	30	inspired	inspire	VERB
ftr-443	64	31	state	state	NOUN
ftr-443	64	32	legislatures	legislature	NOUN
ftr-443	64	33	to	to	PART
ftr-443	64	34	jump	jump	VERB
ftr-443	64	35	on	on	ADP
ftr-443	64	36	the	the	DET
ftr-443	64	37	llc	llc	PROPN
ftr-443	64	38	bandwagon	bandwagon	NOUN
ftr-443	64	39	by	by	ADP
ftr-443	64	40	adopting	adopt	VERB
ftr-443	64	41	llc	llc	PROPN
ftr-443	64	42	statutes	statute	NOUN
ftr-443	64	43	and	and	CCONJ
ftr-443	64	44	amending	amend	VERB
ftr-443	64	45	existing	exist	VERB
ftr-443	64	46	llc	llc	NOUN
ftr-443	64	47	statutes	statute	NOUN
ftr-443	64	48	to	to	PART
ftr-443	64	49	conform	conform	VERB
ftr-443	64	50	to	to	AUX
ftr-443	64	51	liberalized	liberalize	VERB
ftr-443	64	52	federal	federal	ADJ
ftr-443	64	53	income	income	NOUN
ftr-443	64	54	and	and	CCONJ
ftr-443	64	55	transfer	transfer	VERB
ftr-443	64	56	tax	tax	NOUN
ftr-443	64	57	interpretations	interpretation	NOUN
ftr-443	64	58	.	.	PUNCT
ftr-443	65	1	all	all	DET
ftr-443	65	2	states	state	NOUN
ftr-443	65	3	now	now	ADV
ftr-443	65	4	have	have	AUX
ftr-443	65	5	limited	limit	VERB
ftr-443	65	6	liability	liability	NOUN
ftr-443	65	7	company	company	NOUN
ftr-443	65	8	laws,6	laws,6	VERB
ftr-443	65	9	and	and	CCONJ
ftr-443	65	10	many	many	ADJ
ftr-443	65	11	have	have	AUX
ftr-443	65	12	added	add	VERB
ftr-443	65	13	the	the	DET
ftr-443	65	14	limited	limited	ADJ
ftr-443	65	15	liability	liability	NOUN
ftr-443	65	16	partnership	partnership	NOUN
ftr-443	65	17	(	(	PUNCT
ftr-443	65	18	llp	llp	PROPN
ftr-443	65	19	)	)	PUNCT
ftr-443	65	20	,	,	PUNCT
ftr-443	65	21	which	which	PRON
ftr-443	65	22	is	be	AUX
ftr-443	65	23	a	a	DET
ftr-443	65	24	hybrid	hybrid	ADJ
ftr-443	65	25	form	form	NOUN
ftr-443	65	26	of	of	ADP
ftr-443	65	27	organizational	organizational	ADJ
ftr-443	65	28	structure	structure	NOUN
ftr-443	65	29	,	,	PUNCT
ftr-443	65	30	between	between	ADP
ftr-443	65	31	the	the	DET
ftr-443	65	32	llc	llc	PROPN
ftr-443	65	33	and	and	CCONJ
ftr-443	65	34	the	the	DET
ftr-443	65	35	limited	limited	ADJ
ftr-443	65	36	partnership	partnership	NOUN
ftr-443	65	37	(	(	PUNCT
ftr-443	65	38	lp),7	lp),7	ADV
ftr-443	65	39	intended	intend	VERB
ftr-443	65	40	primarily	primarily	ADV
ftr-443	65	41	for	for	ADP
ftr-443	65	42	professional	professional	ADJ
ftr-443	65	43	service	service	NOUN
ftr-443	65	44	organizations	organization	NOUN
ftr-443	65	45	.	.	PUNCT
ftr-443	66	1	the	the	DET
ftr-443	66	2	primary	primary	ADJ
ftr-443	66	3	benefit	benefit	NOUN
ftr-443	66	4	of	of	ADP
ftr-443	66	5	the	the	DET
ftr-443	66	6	llp	llp	PROPN
ftr-443	66	7	is	be	AUX
ftr-443	66	8	that	that	SCONJ
ftr-443	66	9	it	it	PRON
ftr-443	66	10	insulates	insulate	VERB
ftr-443	66	11	partner	partner	NOUN
ftr-443	66	12	-	-	PUNCT
ftr-443	66	13	members	member	NOUN
ftr-443	66	14	in	in	ADP
ftr-443	66	15	professional	professional	ADJ
ftr-443	66	16	service	service	NOUN
ftr-443	66	17	organizations	organization	NOUN
ftr-443	66	18	from	from	ADP
ftr-443	66	19	vicarious	vicarious	ADJ
ftr-443	66	20	liability	liability	NOUN
ftr-443	66	21	for	for	ADP
ftr-443	66	22	malpractice	malpractice	NOUN
ftr-443	66	23	errors	error	NOUN
ftr-443	66	24	and	and	CCONJ
ftr-443	66	25	omissions	omission	NOUN
ftr-443	66	26	.	.	PUNCT
ftr-443	67	1	taxpayer	taxpayer	NOUN
ftr-443	67	2	efforts	effort	NOUN
ftr-443	67	3	to	to	PART
ftr-443	67	4	clothe	clothe	VERB
ftr-443	67	5	their	their	PRON
ftr-443	67	6	entities	entity	NOUN
ftr-443	67	7	with	with	ADP
ftr-443	67	8	various	various	ADJ
ftr-443	67	9	corporate	corporate	ADJ
ftr-443	67	10	attributes	attribute	NOUN
ftr-443	67	11	without	without	ADP
ftr-443	67	12	incurring	incur	VERB
ftr-443	67	13	association	association	NOUN
ftr-443	67	14	status	status	NOUN
ftr-443	67	15	for	for	ADP
ftr-443	67	16	federal	federal	ADJ
ftr-443	67	17	(	(	PUNCT
ftr-443	67	18	and	and	CCONJ
ftr-443	67	19	state	state	NOUN
ftr-443	67	20	)	)	PUNCT
ftr-443	67	21	income	income	NOUN
ftr-443	67	22	tax	tax	NOUN
ftr-443	67	23	purposes	purpose	NOUN
ftr-443	67	24	generated	generate	VERB
ftr-443	67	25	varying	vary	VERB
ftr-443	67	26	differences	difference	NOUN
ftr-443	67	27	of	of	ADP
ftr-443	67	28	opinion	opinion	NOUN
ftr-443	67	29	among	among	ADP
ftr-443	67	30	practitioners	practitioner	NOUN
ftr-443	67	31	,	,	PUNCT
ftr-443	67	32	the	the	DET
ftr-443	67	33	service	service	NOUN
ftr-443	67	34	,	,	PUNCT
ftr-443	67	35	and	and	CCONJ
ftr-443	67	36	the	the	DET
ftr-443	67	37	courts	court	NOUN
ftr-443	67	38	on	on	ADP
ftr-443	67	39	whether	whether	SCONJ
ftr-443	67	40	particular	particular	ADJ
ftr-443	67	41	unincorporated	unincorporated	ADJ
ftr-443	67	42	entities	entity	NOUN
ftr-443	67	43	had	have	AUX
ftr-443	67	44	crossed	cross	VERB
ftr-443	67	45	over	over	ADP
ftr-443	67	46	the	the	DET
ftr-443	67	47	line	line	NOUN
ftr-443	67	48	.	.	PUNCT
ftr-443	67	49	'	'	PUNCT
ftr-443	68	1	especially	especially	ADV
ftr-443	68	2	troublesome	troublesome	ADJ
ftr-443	68	3	for	for	ADP
ftr-443	68	4	the	the	DET
ftr-443	68	5	service	service	NOUN
ftr-443	68	6	was	be	AUX
ftr-443	68	7	that	that	SCONJ
ftr-443	68	8	organizations	organization	NOUN
ftr-443	68	9	having	have	VERB
ftr-443	68	10	the	the	DET
ftr-443	68	11	corporate	corporate	ADJ
ftr-443	68	12	characteristic	characteristic	NOUN
ftr-443	68	13	of	of	ADP
ftr-443	68	14	limited	limited	ADJ
ftr-443	68	15	liability	liability	NOUN
ftr-443	68	16	could	could	AUX
ftr-443	68	17	achieve	achieve	VERB
ftr-443	68	18	partnership	partnership	NOUN
ftr-443	68	19	tax	tax	NOUN
ftr-443	68	20	status	status	NOUN
ftr-443	68	21	.	.	PUNCT
ftr-443	69	1	although	although	SCONJ
ftr-443	69	2	it	it	PRON
ftr-443	69	3	later	later	ADV
ftr-443	69	4	conceded	concede	VERB
ftr-443	69	5	the	the	DET
ftr-443	69	6	point	point	NOUN
ftr-443	69	7	,	,	PUNCT
ftr-443	69	8	the	the	DET
ftr-443	69	9	treasury	treasury	NOUN
ftr-443	69	10	once	once	ADV
ftr-443	69	11	proposed	propose	VERB
ftr-443	69	12	a	a	DET
ftr-443	69	13	bright	bright	ADJ
ftr-443	69	14	line	line	NOUN
ftr-443	69	15	rule	rule	NOUN
ftr-443	69	16	that	that	PRON
ftr-443	69	17	unincorporated	unincorporate	VERB
ftr-443	69	18	entities	entity	NOUN
ftr-443	69	19	with	with	ADP
ftr-443	69	20	limited	limited	ADJ
ftr-443	69	21	liability	liability	NOUN
ftr-443	69	22	under	under	ADP
ftr-443	69	23	state	state	NOUN
ftr-443	69	24	law	law	NOUN
ftr-443	69	25	should	should	AUX
ftr-443	69	26	be	be	AUX
ftr-443	69	27	taxed	tax	VERB
ftr-443	69	28	as	as	ADP
ftr-443	69	29	associations.9	associations.9	ADP
ftr-443	69	30	the	the	DET
ftr-443	69	31	former	former	ADJ
ftr-443	69	32	5	5	NUM
ftr-443	69	33	.	.	NOUN
ftr-443	69	34	1988	1988	NUM
ftr-443	69	35	-	-	SYM
ftr-443	69	36	2	2	NUM
ftr-443	69	37	c.b	c.b	PROPN
ftr-443	69	38	.	.	PROPN
ftr-443	69	39	360	360	NUM
ftr-443	69	40	.	.	NOUN
ftr-443	70	1	6	6	X
ftr-443	70	2	.	.	X
ftr-443	70	3	see	see	VERB
ftr-443	70	4	,	,	PUNCT
ftr-443	70	5	e.g.	e.g.	ADV
ftr-443	70	6	,	,	PUNCT
ftr-443	70	7	del	del	PROPN
ftr-443	70	8	.	.	PROPN
ftr-443	70	9	code	code	PROPN
ftr-443	70	10	ann	ann	PROPN
ftr-443	70	11	.	.	PUNCT
ftr-443	71	1	tit	tit	PROPN
ftr-443	71	2	.	.	PROPN
ftr-443	72	1	6	6	NUM
ftr-443	72	2	,	,	PUNCT
ftr-443	72	3	§	§	PROPN
ftr-443	72	4	§	§	PROPN
ftr-443	72	5	18	18	NUM
ftr-443	72	6	-	-	SYM
ftr-443	72	7	101	101	NUM
ftr-443	72	8	to	to	ADP
ftr-443	72	9	-1107	-1107	PRON
ftr-443	72	10	(	(	PUNCT
ftr-443	72	11	1997	1997	NUM
ftr-443	72	12	)	)	PUNCT
ftr-443	72	13	;	;	PUNCT
ftr-443	72	14	fla	fla	PROPN
ftr-443	72	15	.	.	PUNCT
ftr-443	72	16	stat	stat	PROPN
ftr-443	72	17	.	.	PUNCT
ftr-443	73	1	ch	ch	NOUN
ftr-443	73	2	.	.	PUNCT
ftr-443	74	1	608.401	608.401	NUM
ftr-443	74	2	511	511	NUM
ftr-443	74	3	(	(	PUNCT
ftr-443	74	4	1998	1998	NUM
ftr-443	74	5	)	)	PUNCT
ftr-443	74	6	;	;	PUNCT
ftr-443	74	7	tex	tex	PROPN
ftr-443	74	8	.	.	PROPN
ftr-443	74	9	rev	rev	PROPN
ftr-443	74	10	.	.	PROPN
ftr-443	75	1	civ	civ	PROPN
ftr-443	75	2	.	.	PUNCT
ftr-443	76	1	stat	stat	PROPN
ftr-443	76	2	.	.	PUNCT
ftr-443	77	1	ann	ann	PROPN
ftr-443	77	2	.	.	PUNCT
ftr-443	77	3	art	art	PROPN
ftr-443	77	4	.	.	PUNCT
ftr-443	78	1	1528n	1528n	NUM
ftr-443	78	2	(	(	PUNCT
ftr-443	78	3	west	west	NOUN
ftr-443	78	4	1998	1998	NUM
ftr-443	78	5	)	)	PUNCT
ftr-443	78	6	;	;	PUNCT
ftr-443	78	7	see	see	VERB
ftr-443	78	8	also	also	ADV
ftr-443	78	9	unif	unif	VERB
ftr-443	78	10	.	.	PUNCT
ftr-443	79	1	lim	lim	PROPN
ftr-443	79	2	.	.	PUNCT
ftr-443	80	1	lia	lia	PROPN
ftr-443	80	2	.	.	PROPN
ftr-443	80	3	co.	co.	PROPN
ftr-443	80	4	act	act	PROPN
ftr-443	80	5	,	,	PUNCT
ftr-443	80	6	6a	6a	NOUN
ftr-443	80	7	u.l.a	u.l.a	NOUN
ftr-443	80	8	.	.	PUNCT
ftr-443	81	1	429	429	NUM
ftr-443	81	2	-	-	SYM
ftr-443	81	3	508	508	NUM
ftr-443	81	4	(	(	PUNCT
ftr-443	81	5	1995	1995	NUM
ftr-443	81	6	)	)	PUNCT
ftr-443	81	7	.	.	PUNCT
ftr-443	82	1	7	7	X
ftr-443	82	2	.	.	X
ftr-443	82	3	see	see	VERB
ftr-443	82	4	,	,	PUNCT
ftr-443	82	5	e.g.	e.g.	ADV
ftr-443	82	6	,	,	PUNCT
ftr-443	82	7	del	del	PROPN
ftr-443	82	8	.	.	PROPN
ftr-443	82	9	code	code	PROPN
ftr-443	82	10	ann	ann	PROPN
ftr-443	82	11	.	.	PUNCT
ftr-443	83	1	tit	tit	PROPN
ftr-443	83	2	.	.	PROPN
ftr-443	84	1	6	6	NUM
ftr-443	84	2	,	,	PUNCT
ftr-443	84	3	§	§	NOUN
ftr-443	84	4	17	17	NUM
ftr-443	84	5	-	-	SYM
ftr-443	84	6	214	214	NUM
ftr-443	84	7	(	(	PUNCT
ftr-443	84	8	1997	1997	NUM
ftr-443	84	9	)	)	PUNCT
ftr-443	84	10	;	;	PUNCT
ftr-443	84	11	fla	fla	PROPN
ftr-443	84	12	.	.	PUNCT
ftr-443	84	13	stat	stat	PROPN
ftr-443	84	14	.	.	PUNCT
ftr-443	85	1	ch	ch	NOUN
ftr-443	85	2	.	.	PUNCT
ftr-443	86	1	620.78	620.78	NUM
ftr-443	86	2	(	(	PUNCT
ftr-443	86	3	1998	1998	NUM
ftr-443	86	4	)	)	PUNCT
ftr-443	86	5	;	;	PUNCT
ftr-443	86	6	tex	tex	PROPN
ftr-443	86	7	.	.	PROPN
ftr-443	86	8	rev	rev	PROPN
ftr-443	86	9	.	.	PROPN
ftr-443	87	1	civ	civ	PROPN
ftr-443	87	2	.	.	PUNCT
ftr-443	88	1	stat	stat	PROPN
ftr-443	88	2	.	.	PUNCT
ftr-443	89	1	ann	ann	PROPN
ftr-443	89	2	.	.	PUNCT
ftr-443	89	3	art	art	PROPN
ftr-443	89	4	.	.	PUNCT
ftr-443	90	1	6132b	6132b	NOUN
ftr-443	90	2	(	(	PUNCT
ftr-443	90	3	west	west	NOUN
ftr-443	90	4	1998	1998	NUM
ftr-443	90	5	)	)	PUNCT
ftr-443	90	6	.	.	PUNCT
ftr-443	91	1	8	8	X
ftr-443	91	2	.	.	X
ftr-443	91	3	see	see	VERB
ftr-443	91	4	larson	larson	PROPN
ftr-443	91	5	v.	v.	PROPN
ftr-443	91	6	commissioner	commissioner	PROPN
ftr-443	91	7	,	,	PUNCT
ftr-443	91	8	66	66	NUM
ftr-443	91	9	t.c	t.c	PROPN
ftr-443	91	10	.	.	PROPN
ftr-443	91	11	159	159	NUM
ftr-443	91	12	(	(	PUNCT
ftr-443	91	13	1976	1976	NUM
ftr-443	91	14	)	)	PUNCT
ftr-443	91	15	;	;	PUNCT
ftr-443	91	16	zuckman	zuckman	NOUN
ftr-443	91	17	v.	v.	PROPN
ftr-443	91	18	united	united	PROPN
ftr-443	91	19	states	states	PROPN
ftr-443	91	20	,	,	PUNCT
ftr-443	91	21	524	524	NUM
ftr-443	91	22	f.2d	f.2d	NOUN
ftr-443	91	23	729	729	NUM
ftr-443	91	24	(	(	PUNCT
ftr-443	91	25	ct	ct	PROPN
ftr-443	91	26	.	.	PUNCT
ftr-443	91	27	cl	cl	NOUN
ftr-443	91	28	.	.	PUNCT
ftr-443	91	29	1975	1975	NUM
ftr-443	91	30	)	)	PUNCT
ftr-443	91	31	;	;	PUNCT
ftr-443	91	32	rev	rev	PROPN
ftr-443	91	33	.	.	PROPN
ftr-443	91	34	proc	proc	PROPN
ftr-443	91	35	.	.	PUNCT
ftr-443	92	1	95	95	NUM
ftr-443	92	2	-	-	SYM
ftr-443	92	3	10	10	NUM
ftr-443	92	4	,	,	PUNCT
ftr-443	92	5	1995	1995	NUM
ftr-443	92	6	-	-	SYM
ftr-443	92	7	1	1	NUM
ftr-443	92	8	c.b	c.b	PROPN
ftr-443	92	9	.	.	PROPN
ftr-443	92	10	501	501	NUM
ftr-443	92	11	;	;	PUNCT
ftr-443	92	12	rev	rev	PROPN
ftr-443	92	13	.	.	PROPN
ftr-443	92	14	proc	proc	PROPN
ftr-443	92	15	.	.	PUNCT
ftr-443	93	1	94	94	NUM
ftr-443	93	2	-	-	SYM
ftr-443	93	3	46	46	NUM
ftr-443	93	4	,	,	PUNCT
ftr-443	93	5	1994	1994	NUM
ftr-443	93	6	-	-	SYM
ftr-443	93	7	2	2	NUM
ftr-443	93	8	c.b	c.b	PROPN
ftr-443	93	9	.	.	PROPN
ftr-443	93	10	688	688	NUM
ftr-443	93	11	;	;	PUNCT
ftr-443	93	12	rev	rev	PROPN
ftr-443	93	13	.	.	PROPN
ftr-443	93	14	proc	proc	PROPN
ftr-443	93	15	.	.	PUNCT
ftr-443	94	1	92	92	NUM
ftr-443	94	2	-	-	SYM
ftr-443	94	3	88	88	NUM
ftr-443	94	4	,	,	PUNCT
ftr-443	94	5	1992	1992	NUM
ftr-443	94	6	-	-	SYM
ftr-443	94	7	2	2	NUM
ftr-443	94	8	c.b	c.b	PROPN
ftr-443	94	9	.	.	PROPN
ftr-443	94	10	496	496	NUM
ftr-443	94	11	;	;	PUNCT
ftr-443	94	12	rev	rev	PROPN
ftr-443	94	13	.	.	PROPN
ftr-443	94	14	proc	proc	PROPN
ftr-443	94	15	.	.	PUNCT
ftr-443	95	1	89	89	NUM
ftr-443	95	2	-	-	SYM
ftr-443	95	3	12	12	NUM
ftr-443	95	4	,	,	PUNCT
ftr-443	95	5	1989	1989	NUM
ftr-443	95	6	-	-	SYM
ftr-443	95	7	1	1	NUM
ftr-443	95	8	c.b	c.b	PROPN
ftr-443	95	9	.	.	PROPN
ftr-443	95	10	798	798	NUM
ftr-443	95	11	.	.	PUNCT
ftr-443	96	1	before	before	ADP
ftr-443	96	2	the	the	DET
ftr-443	96	3	development	development	NOUN
ftr-443	96	4	of	of	ADP
ftr-443	96	5	the	the	DET
ftr-443	96	6	professional	professional	ADJ
ftr-443	96	7	corporation	corporation	NOUN
ftr-443	96	8	,	,	PUNCT
ftr-443	96	9	when	when	SCONJ
ftr-443	96	10	more	more	ADV
ftr-443	96	11	generous	generous	ADJ
ftr-443	96	12	provisions	provision	NOUN
ftr-443	96	13	could	could	AUX
ftr-443	96	14	be	be	AUX
ftr-443	96	15	made	make	VERB
ftr-443	96	16	under	under	ADP
ftr-443	96	17	qualified	qualified	ADJ
ftr-443	96	18	retirement	retirement	NOUN
ftr-443	96	19	plans	plan	NOUN
ftr-443	96	20	for	for	ADP
ftr-443	96	21	owner	owner	NOUN
ftr-443	96	22	-	-	PUNCT
ftr-443	96	23	employees	employee	NOUN
ftr-443	96	24	of	of	ADP
ftr-443	96	25	corporations	corporation	NOUN
ftr-443	96	26	than	than	ADP
ftr-443	96	27	for	for	ADP
ftr-443	96	28	self	self	NOUN
ftr-443	96	29	-	-	PUNCT
ftr-443	96	30	employed	employ	VERB
ftr-443	96	31	persons	person	NOUN
ftr-443	96	32	(	(	PUNCT
ftr-443	96	33	including	include	VERB
ftr-443	96	34	partners	partner	NOUN
ftr-443	96	35	)	)	PUNCT
ftr-443	96	36	,	,	PUNCT
ftr-443	96	37	unincorporated	unincorporated	ADJ
ftr-443	96	38	entities	entity	NOUN
ftr-443	96	39	engaged	engage	VERB
ftr-443	96	40	professional	professional	ADJ
ftr-443	96	41	practices	practice	NOUN
ftr-443	96	42	found	find	VERB
ftr-443	96	43	it	it	PRON
ftr-443	96	44	beneficial	beneficial	ADJ
ftr-443	96	45	to	to	PART
ftr-443	96	46	be	be	AUX
ftr-443	96	47	classified	classify	VERB
ftr-443	96	48	as	as	ADP
ftr-443	96	49	associations	association	NOUN
ftr-443	96	50	for	for	ADP
ftr-443	96	51	federal	federal	ADJ
ftr-443	96	52	tax	tax	NOUN
ftr-443	96	53	purposes	purpose	NOUN
ftr-443	96	54	.	.	PUNCT
ftr-443	97	1	see	see	VERB
ftr-443	97	2	united	united	PROPN
ftr-443	97	3	states	states	PROPN
ftr-443	97	4	v.	v.	ADP
ftr-443	97	5	kintner	kintner	NOUN
ftr-443	97	6	,	,	PUNCT
ftr-443	97	7	216	216	NUM
ftr-443	97	8	f.2d	f.2d	ADP
ftr-443	97	9	418	418	NUM
ftr-443	97	10	(	(	PUNCT
ftr-443	97	11	9th	9th	ADJ
ftr-443	97	12	cir	cir	NOUN
ftr-443	97	13	.	.	PROPN
ftr-443	97	14	1954	1954	NUM
ftr-443	97	15	)	)	PUNCT
ftr-443	97	16	(	(	PUNCT
ftr-443	97	17	state	state	NOUN
ftr-443	97	18	law	law	NOUN
ftr-443	97	19	partnership	partnership	NOUN
ftr-443	97	20	imbued	imbue	VERB
ftr-443	97	21	with	with	ADP
ftr-443	97	22	sufficient	sufficient	ADJ
ftr-443	97	23	corporate	corporate	ADJ
ftr-443	97	24	characteristics	characteristic	NOUN
ftr-443	97	25	to	to	PART
ftr-443	97	26	adopt	adopt	VERB
ftr-443	97	27	corporate	corporate	ADJ
ftr-443	97	28	qualified	qualified	ADJ
ftr-443	97	29	retirement	retirement	NOUN
ftr-443	97	30	plan	plan	NOUN
ftr-443	97	31	)	)	PUNCT
ftr-443	97	32	.	.	PUNCT
ftr-443	98	1	for	for	ADP
ftr-443	98	2	a	a	DET
ftr-443	98	3	thorough	thorough	ADJ
ftr-443	98	4	analytical	analytical	ADJ
ftr-443	98	5	and	and	CCONJ
ftr-443	98	6	historical	historical	ADJ
ftr-443	98	7	overview	overview	NOUN
ftr-443	98	8	of	of	ADP
ftr-443	98	9	this	this	DET
ftr-443	98	10	area	area	NOUN
ftr-443	98	11	,	,	PUNCT
ftr-443	98	12	see	see	VERB
ftr-443	98	13	mckee	mckee	PROPN
ftr-443	98	14	,	,	PUNCT
ftr-443	98	15	nelson	nelson	PROPN
ftr-443	98	16	&	&	CCONJ
ftr-443	98	17	whitmire	whitmire	PROPN
ftr-443	98	18	,	,	PUNCT
ftr-443	98	19	federal	federal	ADJ
ftr-443	98	20	taxation	taxation	NOUN
ftr-443	98	21	of	of	ADP
ftr-443	98	22	partnerships	partnership	NOUN
ftr-443	98	23	and	and	CCONJ
ftr-443	98	24	partners	partner	NOUN
ftr-443	98	25	3	3	NUM
ftr-443	98	26	-	-	SYM
ftr-443	98	27	1	1	NUM
ftr-443	98	28	(	(	PUNCT
ftr-443	98	29	1997	1997	NUM
ftr-443	98	30	)	)	PUNCT
ftr-443	98	31	.	.	PUNCT
ftr-443	99	1	9	9	X
ftr-443	99	2	.	.	X
ftr-443	99	3	in	in	ADP
ftr-443	99	4	1980	1980	NUM
ftr-443	99	5	,	,	PUNCT
ftr-443	99	6	the	the	DET
ftr-443	99	7	treasury	treasury	NOUN
ftr-443	99	8	proposed	propose	VERB
ftr-443	99	9	a	a	DET
ftr-443	99	10	regulation	regulation	NOUN
ftr-443	99	11	(	(	PUNCT
ftr-443	99	12	prop	prop	NOUN
ftr-443	99	13	.	.	PUNCT
ftr-443	99	14	regs	regs	PROPN
ftr-443	99	15	.	.	PUNCT
ftr-443	100	1	§	§	PROPN
ftr-443	100	2	301.7701	301.7701	NUM
ftr-443	100	3	-	-	SYM
ftr-443	100	4	2(a)(2	2(a)(2	NUM
ftr-443	100	5	)	)	PUNCT
ftr-443	100	6	)	)	PUNCT
ftr-443	101	1	that	that	PRON
ftr-443	101	2	would	would	AUX
ftr-443	101	3	have	have	AUX
ftr-443	101	4	treated	treat	VERB
ftr-443	101	5	an	an	DET
ftr-443	101	6	organization	organization	NOUN
ftr-443	101	7	as	as	ADP
ftr-443	101	8	an	an	DET
ftr-443	101	9	association	association	NOUN
ftr-443	101	10	if	if	SCONJ
ftr-443	101	11	(	(	PUNCT
ftr-443	101	12	1	1	X
ftr-443	101	13	)	)	PUNCT
ftr-443	101	14	the	the	DET
ftr-443	101	15	organization	organization	NOUN
ftr-443	101	16	was	be	AUX
ftr-443	101	17	not	not	PART
ftr-443	101	18	formed	form	VERB
ftr-443	101	19	under	under	ADP
ftr-443	101	20	a	a	DET
ftr-443	101	21	statute	statute	NOUN
ftr-443	101	22	corresponding	correspond	VERB
ftr-443	101	23	to	to	ADP
ftr-443	101	24	the	the	DET
ftr-443	101	25	uniform	uniform	ADJ
ftr-443	101	26	limited	limited	PROPN
ftr-443	101	27	partnership	partnership	PROPN
ftr-443	101	28	act	act	PROPN
ftr-443	101	29	and	and	CCONJ
ftr-443	101	30	(	(	PUNCT
ftr-443	101	31	2	2	X
ftr-443	101	32	)	)	PUNCT
ftr-443	101	33	no	no	DET
ftr-443	101	34	member	member	NOUN
ftr-443	101	35	of	of	ADP
ftr-443	101	36	the	the	DET
ftr-443	101	37	organization	organization	NOUN
ftr-443	101	38	was	be	AUX
ftr-443	101	39	personally	personally	ADV
ftr-443	101	40	liable	liable	ADJ
ftr-443	101	41	for	for	ADP
ftr-443	101	42	the	the	DET
ftr-443	101	43	entity	entity	NOUN
ftr-443	101	44	's	's	PART
ftr-443	101	45	obligations	obligation	NOUN
ftr-443	101	46	.	.	PUNCT
ftr-443	102	1	see	see	VERB
ftr-443	102	2	classification	classification	NOUN
ftr-443	102	3	of	of	ADP
ftr-443	102	4	limited	limited	ADJ
ftr-443	102	5	liability	liability	NOUN
ftr-443	102	6	companies	company	NOUN
ftr-443	102	7	,	,	PUNCT
ftr-443	102	8	45	45	NUM
ftr-443	102	9	fed	feed	VERB
ftr-443	102	10	.	.	PUNCT
ftr-443	103	1	reg	reg	PROPN
ftr-443	103	2	.	.	PUNCT
ftr-443	104	1	75,709	75,709	NUM
ftr-443	104	2	(	(	PUNCT
ftr-443	104	3	1980	1980	NUM
ftr-443	104	4	)	)	PUNCT
ftr-443	104	5	(	(	PUNCT
ftr-443	104	6	proposed	propose	VERB
ftr-443	104	7	nov	nov	PROPN
ftr-443	104	8	.	.	PROPN
ftr-443	104	9	17	17	NUM
ftr-443	104	10	,	,	PUNCT
ftr-443	104	11	1980	1980	NUM
ftr-443	104	12	)	)	PUNCT
ftr-443	104	13	.	.	PUNCT
ftr-443	105	1	llcs	llcs	NOUN
ftr-443	105	2	and	and	CCONJ
ftr-443	105	3	foreign	foreign	ADJ
ftr-443	105	4	entities	entity	NOUN
ftr-443	105	5	having	have	VERB
ftr-443	105	6	limited	limited	ADJ
ftr-443	105	7	liability	liability	NOUN
ftr-443	105	8	would	would	AUX
ftr-443	105	9	have	have	AUX
ftr-443	105	10	been	be	AUX
ftr-443	105	11	trapped	trap	VERB
ftr-443	105	12	by	by	ADP
ftr-443	105	13	the	the	DET
ftr-443	105	14	proposed	propose	VERB
ftr-443	105	15	regulations	regulation	NOUN
ftr-443	105	16	.	.	PUNCT
ftr-443	106	1	see	see	VERB
ftr-443	106	2	i	i	PRON
ftr-443	106	3	d.	d.	PROPN
ftr-443	106	4	the	the	DET
ftr-443	106	5	proposal	proposal	NOUN
ftr-443	106	6	was	be	AUX
ftr-443	106	7	withdrawn	withdraw	VERB
ftr-443	106	8	in	in	ADP
ftr-443	106	9	1983	1983	NUM
ftr-443	106	10	.	.	PUNCT
ftr-443	107	1	see	see	VERB
ftr-443	107	2	classification	classification	NOUN
ftr-443	107	3	of	of	ADP
ftr-443	107	4	limited	limited	ADJ
ftr-443	107	5	liability	liability	NOUN
ftr-443	107	6	companies	company	NOUN
ftr-443	107	7	,	,	PUNCT
ftr-443	107	8	48	48	NUM
ftr-443	107	9	fed	fed	PROPN
ftr-443	107	10	.	.	PUNCT
ftr-443	108	1	reg	reg	PROPN
ftr-443	108	2	.	.	PUNCT
ftr-443	109	1	14,389	14,389	NUM
ftr-443	109	2	(	(	PUNCT
ftr-443	109	3	1983	1983	NUM
ftr-443	109	4	)	)	PUNCT
ftr-443	109	5	(	(	PUNCT
ftr-443	109	6	withdrawn	withdraw	VERB
ftr-443	109	7	april	april	PROPN
ftr-443	109	8	4	4	NUM
ftr-443	109	9	,	,	PUNCT
ftr-443	109	10	1983	1983	NUM
ftr-443	109	11	)	)	PUNCT
ftr-443	109	12	.	.	PUNCT
ftr-443	110	1	a	a	DET
ftr-443	110	2	formal	formal	ADJ
ftr-443	110	3	concession	concession	NOUN
ftr-443	110	4	of	of	ADP
ftr-443	110	5	the	the	DET
ftr-443	110	6	issue	issue	NOUN
ftr-443	110	7	was	be	AUX
ftr-443	110	8	[	[	X
ftr-443	110	9	vol	vol	NOUN
ftr-443	110	10	4:3	4:3	NUM
ftr-443	110	11	benefits	benefit	NOUN
ftr-443	110	12	and	and	CCONJ
ftr-443	110	13	burdens	burden	NOUN
ftr-443	110	14	of	of	ADP
ftr-443	110	15	subchapter	subchapter	NOUN
ftr-443	110	16	s	s	PART
ftr-443	110	17	regulations	regulation	NOUN
ftr-443	110	18	generally	generally	ADV
ftr-443	110	19	recognized	recognize	VERB
ftr-443	110	20	partnership	partnership	NOUN
ftr-443	110	21	status	status	NOUN
ftr-443	110	22	for	for	ADP
ftr-443	110	23	entities	entity	NOUN
ftr-443	110	24	organized	organize	VERB
ftr-443	110	25	under	under	ADP
ftr-443	110	26	state	state	NOUN
ftr-443	110	27	laws	law	NOUN
ftr-443	110	28	conforming	conform	VERB
ftr-443	110	29	to	to	ADP
ftr-443	110	30	the	the	DET
ftr-443	110	31	uniform	uniform	PROPN
ftr-443	110	32	partnership	partnership	PROPN
ftr-443	110	33	act	act	PROPN
ftr-443	110	34	and	and	CCONJ
ftr-443	110	35	the	the	DET
ftr-443	110	36	uniform	uniform	ADJ
ftr-443	110	37	limited	limited	PROPN
ftr-443	110	38	partnership	partnership	PROPN
ftr-443	110	39	act	act	PROPN
ftr-443	110	40	.	.	PUNCT
ftr-443	110	41	0	0	PUNCT
ftr-443	111	1	still	still	ADV
ftr-443	111	2	,	,	PUNCT
ftr-443	111	3	the	the	DET
ftr-443	111	4	economic	economic	ADJ
ftr-443	111	5	stakes	stake	NOUN
ftr-443	111	6	were	be	AUX
ftr-443	111	7	quite	quite	ADV
ftr-443	111	8	high	high	ADJ
ftr-443	111	9	for	for	ADP
ftr-443	111	10	investors	investor	NOUN
ftr-443	111	11	in	in	ADP
ftr-443	111	12	business	business	NOUN
ftr-443	111	13	and	and	CCONJ
ftr-443	111	14	investment	investment	NOUN
ftr-443	111	15	partnerships	partnership	NOUN
ftr-443	111	16	where	where	SCONJ
ftr-443	111	17	the	the	DET
ftr-443	111	18	owners	owner	NOUN
ftr-443	111	19	'	'	PART
ftr-443	111	20	underlying	underlying	ADJ
ftr-443	111	21	assumption	assumption	NOUN
ftr-443	111	22	of	of	ADP
ftr-443	111	23	conduit	conduit	NOUN
ftr-443	111	24	treatment	treatment	NOUN
ftr-443	111	25	for	for	ADP
ftr-443	111	26	federal	federal	ADJ
ftr-443	111	27	income	income	NOUN
ftr-443	111	28	tax	tax	NOUN
ftr-443	111	29	purposes	purpose	NOUN
ftr-443	111	30	might	might	AUX
ftr-443	111	31	later	later	ADV
ftr-443	111	32	be	be	AUX
ftr-443	111	33	challenged	challenge	VERB
ftr-443	111	34	by	by	ADP
ftr-443	111	35	the	the	DET
ftr-443	111	36	service	service	NOUN
ftr-443	111	37	.	.	PUNCT
ftr-443	112	1	substantial	substantial	ADJ
ftr-443	112	2	investments	investment	NOUN
ftr-443	112	3	in	in	ADP
ftr-443	112	4	joint	joint	ADJ
ftr-443	112	5	ventures	venture	NOUN
ftr-443	112	6	generally	generally	ADV
ftr-443	112	7	were	be	AUX
ftr-443	112	8	not	not	PART
ftr-443	112	9	made	make	VERB
ftr-443	112	10	without	without	ADP
ftr-443	112	11	receiving	receive	VERB
ftr-443	112	12	a	a	DET
ftr-443	112	13	boilerplate	boilerplate	ADJ
ftr-443	112	14	-	-	PUNCT
ftr-443	112	15	like	like	ADJ
ftr-443	112	16	legal	legal	ADJ
ftr-443	112	17	opinion	opinion	NOUN
ftr-443	112	18	that	that	SCONJ
ftr-443	112	19	the	the	DET
ftr-443	112	20	venture	venture	NOUN
ftr-443	112	21	would	would	AUX
ftr-443	112	22	"	"	PUNCT
ftr-443	112	23	more	more	ADV
ftr-443	112	24	likely	likely	ADJ
ftr-443	112	25	than	than	SCONJ
ftr-443	112	26	not	not	PART
ftr-443	112	27	"	"	PUNCT
ftr-443	112	28	be	be	AUX
ftr-443	112	29	taxed	tax	VERB
ftr-443	112	30	as	as	ADP
ftr-443	112	31	a	a	DET
ftr-443	112	32	partnership	partnership	NOUN
ftr-443	112	33	for	for	ADP
ftr-443	112	34	federal	federal	ADJ
ftr-443	112	35	income	income	NOUN
ftr-443	112	36	tax	tax	NOUN
ftr-443	112	37	purposes	purpose	NOUN
ftr-443	112	38	.	.	PUNCT
ftr-443	113	1	for	for	ADP
ftr-443	113	2	those	those	PRON
ftr-443	113	3	who	who	PRON
ftr-443	113	4	desired	desire	VERB
ftr-443	113	5	not	not	PART
ftr-443	113	6	to	to	PART
ftr-443	113	7	get	get	VERB
ftr-443	113	8	to	to	PART
ftr-443	113	9	close	close	VERB
ftr-443	113	10	to	to	ADP
ftr-443	113	11	the	the	DET
ftr-443	113	12	edge	edge	NOUN
ftr-443	113	13	of	of	ADP
ftr-443	113	14	where	where	SCONJ
ftr-443	113	15	partnership	partnership	NOUN
ftr-443	113	16	status	status	NOUN
ftr-443	113	17	ended	end	VERB
ftr-443	113	18	and	and	CCONJ
ftr-443	113	19	association	association	NOUN
ftr-443	113	20	status	status	NOUN
ftr-443	113	21	began	begin	VERB
ftr-443	113	22	without	without	ADP
ftr-443	113	23	receiving	receive	VERB
ftr-443	113	24	a	a	DET
ftr-443	113	25	prior	prior	ADJ
ftr-443	113	26	favorable	favorable	ADJ
ftr-443	113	27	ruling	ruling	NOUN
ftr-443	113	28	,	,	PUNCT
ftr-443	113	29	the	the	DET
ftr-443	113	30	service	service	NOUN
ftr-443	113	31	issued	issue	VERB
ftr-443	113	32	several	several	ADJ
ftr-443	113	33	safe	safe	ADJ
ftr-443	113	34	-	-	PUNCT
ftr-443	113	35	harbor	harbor	NOUN
ftr-443	113	36	ruling	rule	VERB
ftr-443	113	37	guidelines	guideline	NOUN
ftr-443	113	38	.	.	PUNCT
ftr-443	113	39	"	"	PUNCT
ftr-443	114	1	the	the	DET
ftr-443	114	2	ctb	ctb	PROPN
ftr-443	114	3	regulations	regulation	NOUN
ftr-443	114	4	have	have	AUX
ftr-443	114	5	relegated	relegate	VERB
ftr-443	114	6	the	the	DET
ftr-443	114	7	former	former	ADJ
ftr-443	114	8	regulations	regulation	NOUN
ftr-443	114	9	to	to	ADP
ftr-443	114	10	historical	historical	ADJ
ftr-443	114	11	significance	significance	NOUN
ftr-443	114	12	,	,	PUNCT
ftr-443	114	13	except	except	SCONJ
ftr-443	114	14	for	for	ADP
ftr-443	114	15	disputes	dispute	NOUN
ftr-443	114	16	for	for	ADP
ftr-443	114	17	prior	prior	ADJ
ftr-443	114	18	years	year	NOUN
ftr-443	114	19	.	.	PUNCT
ftr-443	114	20	'	'	PUNCT
ftr-443	115	1	2	2	NUM
ftr-443	115	2	under	under	ADP
ftr-443	115	3	the	the	DET
ftr-443	115	4	regulations	regulation	NOUN
ftr-443	115	5	,	,	PUNCT
ftr-443	115	6	unincorporated	unincorporated	ADJ
ftr-443	115	7	entities	entity	NOUN
ftr-443	115	8	,	,	PUNCT
ftr-443	115	9	with	with	ADP
ftr-443	115	10	the	the	DET
ftr-443	115	11	exception	exception	NOUN
ftr-443	115	12	of	of	ADP
ftr-443	115	13	certain	certain	ADJ
ftr-443	115	14	(	(	PUNCT
ftr-443	115	15	"	"	PUNCT
ftr-443	115	16	per	per	X
ftr-443	115	17	se	se	X
ftr-443	115	18	"	"	PUNCT
ftr-443	115	19	)	)	PUNCT
ftr-443	115	20	foreign	foreign	ADJ
ftr-443	115	21	entities	entity	NOUN
ftr-443	115	22	required	require	VERB
ftr-443	115	23	to	to	PART
ftr-443	115	24	be	be	AUX
ftr-443	115	25	taxed	tax	VERB
ftr-443	115	26	as	as	ADP
ftr-443	115	27	associations	association	NOUN
ftr-443	115	28	under	under	ADP
ftr-443	115	29	subchapter	subchapter	NOUN
ftr-443	115	30	c,'3	c,'3	PROPN
ftr-443	115	31	may	may	AUX
ftr-443	115	32	have	have	VERB
ftr-443	115	33	all	all	DET
ftr-443	115	34	four	four	NUM
ftr-443	115	35	corporate	corporate	ADJ
ftr-443	115	36	characteristics	characteristic	NOUN
ftr-443	115	37	and	and	CCONJ
ftr-443	115	38	still	still	ADV
ftr-443	115	39	be	be	AUX
ftr-443	115	40	taxed	tax	VERB
ftr-443	115	41	as	as	ADP
ftr-443	115	42	partnerships	partnership	NOUN
ftr-443	115	43	.	.	PUNCT
ftr-443	116	1	an	an	DET
ftr-443	116	2	llc	llc	NOUN
ftr-443	116	3	may	may	AUX
ftr-443	116	4	therefore	therefore	ADV
ftr-443	116	5	achieve	achieve	VERB
ftr-443	116	6	partnership	partnership	NOUN
ftr-443	116	7	classification	classification	NOUN
ftr-443	116	8	for	for	ADP
ftr-443	116	9	federal	federal	ADJ
ftr-443	116	10	tax	tax	NOUN
ftr-443	116	11	purposes	purpose	NOUN
ftr-443	116	12	,	,	PUNCT
ftr-443	116	13	even	even	ADV
ftr-443	116	14	if	if	SCONJ
ftr-443	116	15	it	it	PRON
ftr-443	116	16	possesses	possess	VERB
ftr-443	116	17	limited	limited	ADJ
ftr-443	116	18	liability	liability	NOUN
ftr-443	116	19	,	,	PUNCT
ftr-443	116	20	centralized	centralized	ADJ
ftr-443	116	21	management	management	NOUN
ftr-443	116	22	,	,	PUNCT
ftr-443	116	23	free	free	ADJ
ftr-443	116	24	transferability	transferability	NOUN
ftr-443	116	25	of	of	ADP
ftr-443	116	26	interest	interest	NOUN
ftr-443	116	27	,	,	PUNCT
ftr-443	116	28	and	and	CCONJ
ftr-443	116	29	continuity	continuity	NOUN
ftr-443	116	30	of	of	ADP
ftr-443	116	31	life	life	NOUN
ftr-443	116	32	.	.	PUNCT
ftr-443	116	33	'	'	PUNCT
ftr-443	117	1	4	4	NUM
ftr-443	117	2	additional	additional	ADJ
ftr-443	117	3	organizational	organizational	ADJ
ftr-443	117	4	and	and	CCONJ
ftr-443	117	5	tax	tax	NOUN
ftr-443	117	6	benefits	benefit	NOUN
ftr-443	117	7	flow	flow	VERB
ftr-443	117	8	from	from	ADP
ftr-443	117	9	the	the	DET
ftr-443	117	10	regulation	regulation	NOUN
ftr-443	117	11	's	's	PART
ftr-443	117	12	introduction	introduction	NOUN
ftr-443	117	13	of	of	ADP
ftr-443	117	14	the	the	DET
ftr-443	117	15	"	"	PUNCT
ftr-443	117	16	tax	tax	NOUN
ftr-443	117	17	nothing	nothing	PRON
ftr-443	117	18	,	,	PUNCT
ftr-443	117	19	"	"	PUNCT
ftr-443	117	20	which	which	PRON
ftr-443	117	21	is	be	AUX
ftr-443	117	22	the	the	DET
ftr-443	117	23	default	default	NOUN
ftr-443	117	24	status	status	NOUN
ftr-443	117	25	of	of	ADP
ftr-443	117	26	an	an	DET
ftr-443	117	27	unincorpomade	unincorpomade	NOUN
ftr-443	117	28	in	in	ADP
ftr-443	117	29	rev	rev	PROPN
ftr-443	117	30	.	.	PUNCT
ftr-443	118	1	rul	rul	PROPN
ftr-443	118	2	.	.	PUNCT
ftr-443	119	1	88	88	NUM
ftr-443	119	2	-	-	SYM
ftr-443	119	3	76	76	NUM
ftr-443	119	4	,	,	PUNCT
ftr-443	119	5	1988	1988	NUM
ftr-443	119	6	-	-	SYM
ftr-443	119	7	2	2	NUM
ftr-443	119	8	c.b	c.b	PROPN
ftr-443	119	9	.	.	PROPN
ftr-443	119	10	360	360	NUM
ftr-443	119	11	,	,	PUNCT
ftr-443	119	12	which	which	PRON
ftr-443	119	13	held	hold	VERB
ftr-443	119	14	that	that	SCONJ
ftr-443	119	15	a	a	DET
ftr-443	119	16	wyoming	wyoming	NOUN
ftr-443	119	17	llc	llc	NOUN
ftr-443	119	18	could	could	AUX
ftr-443	119	19	be	be	AUX
ftr-443	119	20	a	a	DET
ftr-443	119	21	partnership	partnership	NOUN
ftr-443	119	22	for	for	ADP
ftr-443	119	23	federal	federal	ADJ
ftr-443	119	24	tax	tax	NOUN
ftr-443	119	25	purposes	purpose	NOUN
ftr-443	119	26	,	,	PUNCT
ftr-443	119	27	even	even	ADV
ftr-443	119	28	if	if	SCONJ
ftr-443	119	29	no	no	DET
ftr-443	119	30	member	member	NOUN
ftr-443	119	31	was	be	AUX
ftr-443	119	32	personally	personally	ADV
ftr-443	119	33	liable	liable	ADJ
ftr-443	119	34	for	for	ADP
ftr-443	119	35	debts	debt	NOUN
ftr-443	119	36	of	of	ADP
ftr-443	119	37	the	the	DET
ftr-443	119	38	entity	entity	NOUN
ftr-443	119	39	.	.	PUNCT
ftr-443	120	1	10	10	NUM
ftr-443	120	2	.	.	PUNCT
ftr-443	121	1	see	see	VERB
ftr-443	121	2	regs	reg	NOUN
ftr-443	121	3	.	.	PUNCT
ftr-443	122	1	§	§	PROPN
ftr-443	122	2	301.7701	301.7701	NUM
ftr-443	122	3	-	-	SYM
ftr-443	122	4	3(b)(1	3(b)(1	NUM
ftr-443	122	5	)	)	PUNCT
ftr-443	122	6	(	(	PUNCT
ftr-443	122	7	prior	prior	ADV
ftr-443	122	8	to	to	ADP
ftr-443	122	9	amendment	amendment	NOUN
ftr-443	122	10	by	by	ADP
ftr-443	122	11	t.d	t.d	PROPN
ftr-443	122	12	.	.	PROPN
ftr-443	122	13	8697	8697	NUM
ftr-443	122	14	,	,	PUNCT
ftr-443	122	15	61	61	NUM
ftr-443	122	16	fed	feed	VERB
ftr-443	122	17	.	.	PUNCT
ftr-443	123	1	reg	reg	PROPN
ftr-443	123	2	.	.	PUNCT
ftr-443	124	1	66,584	66,584	NUM
ftr-443	124	2	(	(	PUNCT
ftr-443	124	3	1996	1996	NUM
ftr-443	124	4	)	)	PUNCT
ftr-443	124	5	)	)	PUNCT
ftr-443	124	6	.	.	PUNCT
ftr-443	125	1	11	11	NUM
ftr-443	125	2	.	.	X
ftr-443	126	1	see	see	VERB
ftr-443	126	2	,	,	PUNCT
ftr-443	126	3	e.g.	e.g.	ADV
ftr-443	126	4	,	,	PUNCT
ftr-443	126	5	rev	rev	PROPN
ftr-443	126	6	.	.	PROPN
ftr-443	126	7	proc	proc	PROPN
ftr-443	126	8	.	.	PUNCT
ftr-443	127	1	92	92	NUM
ftr-443	127	2	-	-	SYM
ftr-443	127	3	35	35	NUM
ftr-443	127	4	,	,	PUNCT
ftr-443	127	5	1992	1992	NUM
ftr-443	127	6	-	-	SYM
ftr-443	127	7	1	1	NUM
ftr-443	127	8	c.b	c.b	PROPN
ftr-443	127	9	.	.	PROPN
ftr-443	127	10	790	790	NUM
ftr-443	127	11	,	,	PUNCT
ftr-443	127	12	amplified	amplify	VERB
ftr-443	127	13	by	by	ADP
ftr-443	127	14	rev	rev	PROPN
ftr-443	127	15	.	.	PROPN
ftr-443	127	16	proc	proc	PROPN
ftr-443	127	17	.	.	PUNCT
ftr-443	128	1	94	94	NUM
ftr-443	128	2	-	-	SYM
ftr-443	128	3	46	46	NUM
ftr-443	128	4	,	,	PUNCT
ftr-443	128	5	1994	1994	NUM
ftr-443	128	6	-	-	SYM
ftr-443	128	7	2	2	NUM
ftr-443	128	8	c.b	c.b	PROPN
ftr-443	128	9	.	.	PROPN
ftr-443	128	10	688	688	NUM
ftr-443	128	11	;	;	PUNCT
ftr-443	128	12	rev	rev	PROPN
ftr-443	128	13	.	.	PROPN
ftr-443	128	14	proc	proc	PROPN
ftr-443	128	15	.	.	PUNCT
ftr-443	129	1	89	89	NUM
ftr-443	129	2	-	-	SYM
ftr-443	129	3	12	12	NUM
ftr-443	129	4	,	,	PUNCT
ftr-443	129	5	1989	1989	NUM
ftr-443	129	6	-	-	SYM
ftr-443	129	7	1	1	NUM
ftr-443	129	8	c.b	c.b	PROPN
ftr-443	129	9	.	.	PROPN
ftr-443	129	10	798	798	NUM
ftr-443	129	11	,	,	PUNCT
ftr-443	129	12	supplemented	supplement	VERB
ftr-443	129	13	by	by	ADP
ftr-443	129	14	rev	rev	PROPN
ftr-443	129	15	.	.	PROPN
ftr-443	129	16	proc	proc	PROPN
ftr-443	129	17	.	.	PUNCT
ftr-443	130	1	92	92	NUM
ftr-443	130	2	-	-	SYM
ftr-443	130	3	33	33	NUM
ftr-443	130	4	.	.	PUNCT
ftr-443	130	5	1992	1992	NUM
ftr-443	130	6	-	-	SYM
ftr-443	130	7	1	1	NUM
ftr-443	130	8	c.b	c.b	PROPN
ftr-443	130	9	.	.	PROPN
ftr-443	130	10	782	782	NUM
ftr-443	130	11	,	,	PUNCT
ftr-443	130	12	modified	modify	VERB
ftr-443	130	13	by	by	ADP
ftr-443	130	14	rev	rev	PROPN
ftr-443	130	15	.	.	PROPN
ftr-443	130	16	proc	proc	PROPN
ftr-443	130	17	.	.	PUNCT
ftr-443	131	1	95	95	NUM
ftr-443	131	2	-	-	SYM
ftr-443	131	3	10	10	NUM
ftr-443	131	4	,	,	PUNCT
ftr-443	131	5	1995	1995	NUM
ftr-443	131	6	-	-	SYM
ftr-443	131	7	1	1	NUM
ftr-443	131	8	c.b	c.b	PROPN
ftr-443	131	9	.	.	PROPN
ftr-443	131	10	501	501	NUM
ftr-443	131	11	,	,	PUNCT
ftr-443	131	12	and	and	CCONJ
ftr-443	131	13	amplified	amplify	VERB
ftr-443	131	14	by	by	ADP
ftr-443	131	15	rev	rev	PROPN
ftr-443	131	16	.	.	PROPN
ftr-443	131	17	proc	proc	PROPN
ftr-443	131	18	.	.	PUNCT
ftr-443	132	1	91	91	NUM
ftr-443	132	2	-	-	SYM
ftr-443	132	3	13	13	NUM
ftr-443	132	4	,	,	PUNCT
ftr-443	132	5	1991	1991	NUM
ftr-443	132	6	-	-	SYM
ftr-443	132	7	1	1	NUM
ftr-443	132	8	c.b	c.b	PROPN
ftr-443	132	9	.	.	PROPN
ftr-443	132	10	477	477	NUM
ftr-443	132	11	(	(	PUNCT
ftr-443	132	12	checklist	checklist	NOUN
ftr-443	132	13	questionnaire	questionnaire	NOUN
ftr-443	132	14	)	)	PUNCT
ftr-443	132	15	;	;	PUNCT
ftr-443	132	16	rev	rev	PROPN
ftr-443	132	17	.	.	PROPN
ftr-443	132	18	proc	proc	PROPN
ftr-443	132	19	.	.	PUNCT
ftr-443	133	1	86	86	NUM
ftr-443	133	2	-	-	SYM
ftr-443	133	3	12	12	NUM
ftr-443	133	4	,	,	PUNCT
ftr-443	133	5	1986	1986	NUM
ftr-443	133	6	-	-	SYM
ftr-443	133	7	1	1	NUM
ftr-443	133	8	c.b	c.b	PROPN
ftr-443	133	9	.	.	PROPN
ftr-443	133	10	534	534	NUM
ftr-443	133	11	.	.	X
ftr-443	133	12	12	12	NUM
ftr-443	133	13	.	.	PUNCT
ftr-443	134	1	the	the	DET
ftr-443	134	2	ctb	ctb	PROPN
ftr-443	134	3	regulations	regulation	NOUN
ftr-443	134	4	concede	concede	VERB
ftr-443	134	5	to	to	ADP
ftr-443	134	6	taxpayers	taxpayer	NOUN
ftr-443	134	7	most	most	ADV
ftr-443	134	8	lingering	linger	VERB
ftr-443	134	9	uncertainties	uncertainty	NOUN
ftr-443	134	10	over	over	ADP
ftr-443	134	11	the	the	DET
ftr-443	134	12	pre-1997	pre-1997	ADJ
ftr-443	134	13	classification	classification	NOUN
ftr-443	134	14	of	of	ADP
ftr-443	134	15	business	business	NOUN
ftr-443	134	16	entities	entity	NOUN
ftr-443	134	17	.	.	PUNCT
ftr-443	135	1	unless	unless	SCONJ
ftr-443	135	2	a	a	DET
ftr-443	135	3	pre-1997	pre-1997	NOUN
ftr-443	135	4	entity	entity	NOUN
ftr-443	135	5	is	be	AUX
ftr-443	135	6	a	a	DET
ftr-443	135	7	per	per	X
ftr-443	135	8	se	se	X
ftr-443	135	9	corporation	corporation	NOUN
ftr-443	135	10	under	under	ADP
ftr-443	135	11	the	the	DET
ftr-443	135	12	ctb	ctb	NOUN
ftr-443	135	13	regulations	regulation	NOUN
ftr-443	135	14	,	,	PUNCT
ftr-443	135	15	the	the	DET
ftr-443	135	16	classification	classification	NOUN
ftr-443	135	17	that	that	SCONJ
ftr-443	135	18	it	it	PRON
ftr-443	135	19	claimed	claim	VERB
ftr-443	135	20	is	be	AUX
ftr-443	135	21	"	"	PUNCT
ftr-443	135	22	respected	respect	VERB
ftr-443	135	23	"	"	PUNCT
ftr-443	135	24	for	for	ADP
ftr-443	135	25	all	all	DET
ftr-443	135	26	periods	period	NOUN
ftr-443	135	27	before	before	ADP
ftr-443	135	28	1997	1997	NUM
ftr-443	135	29	if	if	SCONJ
ftr-443	135	30	(	(	PUNCT
ftr-443	135	31	1	1	X
ftr-443	135	32	)	)	PUNCT
ftr-443	135	33	the	the	DET
ftr-443	135	34	entity	entity	NOUN
ftr-443	135	35	had	have	VERB
ftr-443	135	36	a	a	DET
ftr-443	135	37	reasonable	reasonable	ADJ
ftr-443	135	38	basis	basis	NOUN
ftr-443	135	39	(	(	PUNCT
ftr-443	135	40	per	per	ADP
ftr-443	135	41	§	§	X
ftr-443	135	42	6662	6662	NUM
ftr-443	135	43	)	)	PUNCT
ftr-443	135	44	for	for	ADP
ftr-443	135	45	the	the	DET
ftr-443	135	46	claim	claim	NOUN
ftr-443	135	47	,	,	PUNCT
ftr-443	135	48	(	(	PUNCT
ftr-443	135	49	2	2	X
ftr-443	135	50	)	)	PUNCT
ftr-443	135	51	the	the	DET
ftr-443	135	52	entity	entity	NOUN
ftr-443	135	53	and	and	CCONJ
ftr-443	135	54	its	its	PRON
ftr-443	135	55	members	member	NOUN
ftr-443	135	56	consistently	consistently	ADV
ftr-443	135	57	maintained	maintain	VERB
ftr-443	135	58	the	the	DET
ftr-443	135	59	claimed	claim	VERB
ftr-443	135	60	status	status	NOUN
ftr-443	135	61	for	for	ADP
ftr-443	135	62	all	all	DET
ftr-443	135	63	periods	period	NOUN
ftr-443	135	64	,	,	PUNCT
ftr-443	135	65	and	and	CCONJ
ftr-443	135	66	(	(	PUNCT
ftr-443	135	67	3	3	X
ftr-443	135	68	)	)	PUNCT
ftr-443	135	69	neither	neither	CCONJ
ftr-443	135	70	the	the	DET
ftr-443	135	71	entity	entity	NOUN
ftr-443	135	72	nor	nor	CCONJ
ftr-443	135	73	any	any	PRON
ftr-443	135	74	of	of	ADP
ftr-443	135	75	its	its	PRON
ftr-443	135	76	members	member	NOUN
ftr-443	135	77	received	receive	VERB
ftr-443	135	78	written	write	VERB
ftr-443	135	79	notification	notification	NOUN
ftr-443	135	80	before	before	ADP
ftr-443	135	81	may	may	PROPN
ftr-443	135	82	9	9	NUM
ftr-443	135	83	.	.	NOUN
ftr-443	135	84	1996	1996	NUM
ftr-443	135	85	,	,	PUNCT
ftr-443	135	86	that	that	SCONJ
ftr-443	135	87	the	the	DET
ftr-443	135	88	classification	classification	NOUN
ftr-443	135	89	of	of	ADP
ftr-443	135	90	the	the	DET
ftr-443	135	91	entity	entity	NOUN
ftr-443	135	92	was	be	AUX
ftr-443	135	93	under	under	ADP
ftr-443	135	94	examination	examination	NOUN
ftr-443	135	95	by	by	ADP
ftr-443	135	96	the	the	DET
ftr-443	135	97	service	service	NOUN
ftr-443	135	98	.	.	PUNCT
ftr-443	136	1	see	see	VERB
ftr-443	136	2	regs	reg	NOUN
ftr-443	136	3	.	.	PUNCT
ftr-443	137	1	§	§	PROPN
ftr-443	137	2	301.77013(f)(2	301.77013(f)(2	PROPN
ftr-443	137	3	)	)	PUNCT
ftr-443	137	4	.	.	PUNCT
ftr-443	138	1	for	for	ADP
ftr-443	138	2	pre	pre	ADJ
ftr-443	138	3	-	-	ADJ
ftr-443	138	4	ctb	ctb	ADJ
ftr-443	138	5	foreign	foreign	ADJ
ftr-443	138	6	entities	entity	NOUN
ftr-443	138	7	,	,	PUNCT
ftr-443	138	8	see	see	VERB
ftr-443	138	9	regs	reg	NOUN
ftr-443	138	10	.	.	PUNCT
ftr-443	139	1	§	§	PROPN
ftr-443	139	2	301.7701	301.7701	NUM
ftr-443	139	3	-	-	SYM
ftr-443	139	4	2(d	2(d	NUM
ftr-443	139	5	)	)	PUNCT
ftr-443	139	6	.	.	PUNCT
ftr-443	140	1	13	13	NUM
ftr-443	140	2	.	.	PUNCT
ftr-443	141	1	the	the	DET
ftr-443	141	2	regulations	regulation	NOUN
ftr-443	141	3	designate	designate	VERB
ftr-443	141	4	one	one	NUM
ftr-443	141	5	type	type	NOUN
ftr-443	141	6	of	of	ADP
ftr-443	141	7	entity	entity	NOUN
ftr-443	141	8	in	in	ADP
ftr-443	141	9	each	each	DET
ftr-443	141	10	country	country	NOUN
ftr-443	141	11	,	,	PUNCT
ftr-443	141	12	considered	consider	VERB
ftr-443	141	13	equivalent	equivalent	ADJ
ftr-443	141	14	to	to	ADP
ftr-443	141	15	a	a	DET
ftr-443	141	16	corporation	corporation	NOUN
ftr-443	141	17	under	under	ADP
ftr-443	141	18	the	the	DET
ftr-443	141	19	corporate	corporate	ADJ
ftr-443	141	20	laws	law	NOUN
ftr-443	141	21	of	of	ADP
ftr-443	141	22	the	the	DET
ftr-443	141	23	u.s	u.s	PROPN
ftr-443	141	24	.	.	PROPN
ftr-443	141	25	states	state	NOUN
ftr-443	141	26	,	,	PUNCT
ftr-443	141	27	as	as	ADP
ftr-443	141	28	a	a	DET
ftr-443	141	29	per	per	X
ftr-443	141	30	se	se	X
ftr-443	141	31	corporation	corporation	NOUN
ftr-443	141	32	.	.	PUNCT
ftr-443	142	1	regs	regs	PROPN
ftr-443	142	2	.	.	PUNCT
ftr-443	143	1	§	§	PROPN
ftr-443	143	2	301.7701	301.7701	PROPN
ftr-443	143	3	-	-	SYM
ftr-443	143	4	2(b)(8	2(b)(8	NUM
ftr-443	143	5	)	)	PUNCT
ftr-443	143	6	.	.	PUNCT
ftr-443	144	1	notice	notice	VERB
ftr-443	144	2	98	98	NUM
ftr-443	144	3	-	-	SYM
ftr-443	144	4	35	35	NUM
ftr-443	144	5	,	,	PUNCT
ftr-443	144	6	1998	1998	NUM
ftr-443	144	7	-	-	SYM
ftr-443	144	8	27	27	NUM
ftr-443	144	9	i.r.b	i.r.b	NOUN
ftr-443	144	10	.	.	PROPN
ftr-443	144	11	35	35	NUM
ftr-443	144	12	and	and	CCONJ
ftr-443	144	13	notice	notice	VERB
ftr-443	144	14	98	98	NUM
ftr-443	144	15	-	-	SYM
ftr-443	144	16	11	11	NUM
ftr-443	144	17	,	,	PUNCT
ftr-443	144	18	1998	1998	NUM
ftr-443	144	19	-	-	SYM
ftr-443	144	20	6	6	NUM
ftr-443	144	21	i.r.b	i.r.b	NOUN
ftr-443	144	22	.	.	PROPN
ftr-443	144	23	18	18	NUM
ftr-443	144	24	,	,	PUNCT
ftr-443	144	25	dealing	deal	VERB
ftr-443	144	26	with	with	ADP
ftr-443	144	27	the	the	DET
ftr-443	144	28	tax	tax	NOUN
ftr-443	144	29	status	status	NOUN
ftr-443	144	30	of	of	ADP
ftr-443	144	31	foreign	foreign	ADJ
ftr-443	144	32	hybrid	hybrid	ADJ
ftr-443	144	33	entities	entity	NOUN
ftr-443	144	34	.	.	PUNCT
ftr-443	145	1	14	14	NUM
ftr-443	145	2	.	.	PUNCT
ftr-443	146	1	states	state	NOUN
ftr-443	146	2	using	use	VERB
ftr-443	146	3	federal	federal	ADJ
ftr-443	146	4	piggyback	piggyback	NOUN
ftr-443	146	5	type	type	NOUN
ftr-443	146	6	models	model	NOUN
ftr-443	146	7	for	for	ADP
ftr-443	146	8	income	income	NOUN
ftr-443	146	9	taxation	taxation	NOUN
ftr-443	146	10	will	will	AUX
ftr-443	146	11	probably	probably	ADV
ftr-443	146	12	go	go	VERB
ftr-443	146	13	along	along	ADV
ftr-443	146	14	with	with	ADP
ftr-443	146	15	the	the	DET
ftr-443	146	16	liberalized	liberalize	VERB
ftr-443	146	17	ctb	ctb	NOUN
ftr-443	146	18	regulations	regulation	NOUN
ftr-443	146	19	.	.	PUNCT
ftr-443	147	1	19991	19991	NUM
ftr-443	147	2	florida	florida	PROPN
ftr-443	147	3	tax	tax	PROPN
ftr-443	147	4	review	review	NOUN
ftr-443	147	5	rated	rate	VERB
ftr-443	147	6	entity	entity	NOUN
ftr-443	147	7	having	have	VERB
ftr-443	147	8	only	only	ADV
ftr-443	147	9	one	one	NUM
ftr-443	147	10	owner	owner	NOUN
ftr-443	147	11	.	.	PUNCT
ftr-443	148	1	for	for	ADP
ftr-443	148	2	tax	tax	NOUN
ftr-443	148	3	purposes	purpose	NOUN
ftr-443	148	4	,	,	PUNCT
ftr-443	148	5	such	such	DET
ftr-443	148	6	an	an	DET
ftr-443	148	7	entity	entity	NOUN
ftr-443	148	8	is	be	AUX
ftr-443	148	9	treated	treat	VERB
ftr-443	148	10	as	as	ADP
ftr-443	148	11	a	a	DET
ftr-443	148	12	sole	sole	ADJ
ftr-443	148	13	proprietorship	proprietorship	NOUN
ftr-443	148	14	if	if	SCONJ
ftr-443	148	15	the	the	DET
ftr-443	148	16	owner	owner	NOUN
ftr-443	148	17	is	be	AUX
ftr-443	148	18	an	an	DET
ftr-443	148	19	individual	individual	ADJ
ftr-443	148	20	or	or	CCONJ
ftr-443	148	21	a	a	DET
ftr-443	148	22	division	division	NOUN
ftr-443	148	23	or	or	CCONJ
ftr-443	148	24	branch	branch	NOUN
ftr-443	148	25	if	if	SCONJ
ftr-443	148	26	the	the	DET
ftr-443	148	27	owner	owner	NOUN
ftr-443	148	28	is	be	AUX
ftr-443	148	29	an	an	DET
ftr-443	148	30	entity	entity	NOUN
ftr-443	148	31	.	.	PUNCT
ftr-443	149	1	the	the	DET
ftr-443	149	2	entity	entity	NOUN
ftr-443	149	3	exists	exist	VERB
ftr-443	149	4	for	for	ADP
ftr-443	149	5	state	state	NOUN
ftr-443	149	6	law	law	NOUN
ftr-443	149	7	purposes	purpose	NOUN
ftr-443	149	8	but	but	CCONJ
ftr-443	149	9	not	not	PART
ftr-443	149	10	for	for	ADP
ftr-443	149	11	federal	federal	ADJ
ftr-443	149	12	income	income	NOUN
ftr-443	149	13	tax	tax	NOUN
ftr-443	149	14	purposes	purpose	NOUN
ftr-443	149	15	unless	unless	SCONJ
ftr-443	149	16	the	the	DET
ftr-443	149	17	owner	owner	NOUN
ftr-443	149	18	elects	elect	VERB
ftr-443	149	19	association	association	NOUN
ftr-443	149	20	status.1	status.1	PROPN
ftr-443	149	21	5	5	NUM
ftr-443	149	22	the	the	DET
ftr-443	149	23	advent	advent	NOUN
ftr-443	149	24	of	of	ADP
ftr-443	149	25	the	the	DET
ftr-443	149	26	ctb	ctb	NOUN
ftr-443	149	27	regulations	regulation	NOUN
ftr-443	149	28	,	,	PUNCT
ftr-443	149	29	including	include	VERB
ftr-443	149	30	the	the	DET
ftr-443	149	31	metaphysically	metaphysically	ADV
ftr-443	149	32	wonderful	wonderful	ADJ
ftr-443	149	33	tax	tax	NOUN
ftr-443	149	34	nothing	nothing	PRON
ftr-443	149	35	,	,	PUNCT
ftr-443	149	36	has	have	AUX
ftr-443	149	37	opened	open	VERB
ftr-443	149	38	a	a	DET
ftr-443	149	39	new	new	ADJ
ftr-443	149	40	world	world	NOUN
ftr-443	149	41	of	of	ADP
ftr-443	149	42	passthrough	passthrough	PROPN
ftr-443	149	43	entities	entity	NOUN
ftr-443	149	44	and	and	CCONJ
ftr-443	149	45	multiple	multiple	ADJ
ftr-443	149	46	-	-	PUNCT
ftr-443	149	47	tiered	tiere	VERB
ftr-443	149	48	structures	structure	NOUN
ftr-443	149	49	.	.	PUNCT
ftr-443	150	1	proponents	proponent	NOUN
ftr-443	150	2	of	of	ADP
ftr-443	150	3	the	the	DET
ftr-443	150	4	ctb	ctb	PROPN
ftr-443	150	5	regulations	regulation	NOUN
ftr-443	150	6	contend	contend	VERB
ftr-443	150	7	that	that	SCONJ
ftr-443	150	8	the	the	DET
ftr-443	150	9	federal	federal	ADJ
ftr-443	150	10	tax	tax	NOUN
ftr-443	150	11	law	law	NOUN
ftr-443	150	12	should	should	AUX
ftr-443	150	13	permit	permit	VERB
ftr-443	150	14	various	various	ADJ
ftr-443	150	15	forms	form	NOUN
ftr-443	150	16	of	of	ADP
ftr-443	150	17	entities	entity	NOUN
ftr-443	150	18	under	under	ADP
ftr-443	150	19	state	state	NOUN
ftr-443	150	20	law	law	NOUN
ftr-443	150	21	to	to	PART
ftr-443	150	22	be	be	AUX
ftr-443	150	23	taxed	tax	VERB
ftr-443	150	24	under	under	ADP
ftr-443	150	25	the	the	DET
ftr-443	150	26	same	same	ADJ
ftr-443	150	27	passthrough	passthrough	NOUN
ftr-443	150	28	system	system	NOUN
ftr-443	150	29	by	by	ADP
ftr-443	150	30	removing	remove	VERB
ftr-443	150	31	emphasis	emphasis	NOUN
ftr-443	150	32	on	on	ADP
ftr-443	150	33	formalisms	formalism	NOUN
ftr-443	150	34	inherent	inherent	ADJ
ftr-443	150	35	in	in	ADP
ftr-443	150	36	the	the	DET
ftr-443	150	37	organizational	organizational	ADJ
ftr-443	150	38	and	and	CCONJ
ftr-443	150	39	governance	governance	NOUN
ftr-443	150	40	rules	rule	NOUN
ftr-443	150	41	under	under	ADP
ftr-443	150	42	state	state	NOUN
ftr-443	150	43	law	law	NOUN
ftr-443	150	44	.	.	PUNCT
ftr-443	151	1	in	in	ADP
ftr-443	151	2	contrast	contrast	NOUN
ftr-443	151	3	with	with	ADP
ftr-443	151	4	unincorporated	unincorporated	ADJ
ftr-443	151	5	entities	entity	NOUN
ftr-443	151	6	,	,	PUNCT
ftr-443	151	7	an	an	DET
ftr-443	151	8	incorporated	incorporated	ADJ
ftr-443	151	9	pbf	pbf	NOUN
ftr-443	151	10	has	have	VERB
ftr-443	151	11	the	the	DET
ftr-443	151	12	choice	choice	NOUN
ftr-443	151	13	of	of	ADP
ftr-443	151	14	being	be	AUX
ftr-443	151	15	taxed	tax	VERB
ftr-443	151	16	in	in	ADP
ftr-443	151	17	the	the	DET
ftr-443	151	18	double	double	ADJ
ftr-443	151	19	-	-	PUNCT
ftr-443	151	20	tax	tax	NOUN
ftr-443	151	21	world	world	NOUN
ftr-443	151	22	of	of	ADP
ftr-443	151	23	subchapter	subchapter	NOUN
ftr-443	151	24	c	c	NOUN
ftr-443	151	25	or	or	CCONJ
ftr-443	151	26	as	as	ADP
ftr-443	151	27	a	a	DET
ftr-443	151	28	passthrough	passthrough	NOUN
ftr-443	151	29	entity	entity	NOUN
ftr-443	151	30	under	under	ADP
ftr-443	151	31	subchapter	subchapter	NOUN
ftr-443	151	32	s.	s.	PROPN
ftr-443	151	33	the	the	DET
ftr-443	151	34	s	s	PROPN
ftr-443	151	35	election	election	NOUN
ftr-443	151	36	is	be	AUX
ftr-443	151	37	allowed	allow	VERB
ftr-443	151	38	only	only	ADV
ftr-443	151	39	if	if	SCONJ
ftr-443	151	40	various	various	ADJ
ftr-443	151	41	eligibility	eligibility	NOUN
ftr-443	151	42	rules	rule	NOUN
ftr-443	151	43	are	be	AUX
ftr-443	151	44	met	meet	VERB
ftr-443	151	45	at	at	ADP
ftr-443	151	46	both	both	CCONJ
ftr-443	151	47	the	the	DET
ftr-443	151	48	entity	entity	NOUN
ftr-443	151	49	and	and	CCONJ
ftr-443	151	50	investor	investor	NOUN
ftr-443	151	51	levels	level	NOUN
ftr-443	151	52	.	.	PUNCT
ftr-443	152	1	thus	thus	ADV
ftr-443	152	2	,	,	PUNCT
ftr-443	152	3	the	the	DET
ftr-443	152	4	ctb	ctb	NOUN
ftr-443	152	5	regulations	regulation	NOUN
ftr-443	152	6	only	only	ADV
ftr-443	152	7	indirectly	indirectly	ADV
ftr-443	152	8	benefit	benefit	VERB
ftr-443	152	9	incorporated	incorporate	VERB
ftr-443	152	10	pbfs	pbfs	NOUN
ftr-443	152	11	by	by	ADP
ftr-443	152	12	permitting	permit	VERB
ftr-443	152	13	them	they	PRON
ftr-443	152	14	to	to	PART
ftr-443	152	15	be	be	AUX
ftr-443	152	16	members	member	NOUN
ftr-443	152	17	of	of	ADP
ftr-443	152	18	llcs	llcs	NOUN
ftr-443	152	19	or	or	CCONJ
ftr-443	152	20	limited	limited	ADJ
ftr-443	152	21	partnerships	partnership	NOUN
ftr-443	152	22	and	and	CCONJ
ftr-443	152	23	to	to	PART
ftr-443	152	24	have	have	AUX
ftr-443	152	25	whollyowned	whollyowne	VERB
ftr-443	152	26	llc	llc	PROPN
ftr-443	152	27	tax	tax	NOUN
ftr-443	152	28	nothings	nothing	NOUN
ftr-443	152	29	.	.	PUNCT
ftr-443	153	1	the	the	DET
ftr-443	153	2	underlying	underlie	VERB
ftr-443	153	3	premise	premise	NOUN
ftr-443	153	4	of	of	ADP
ftr-443	153	5	the	the	DET
ftr-443	153	6	ctb	ctb	NOUN
ftr-443	153	7	regulations	regulation	NOUN
ftr-443	153	8	is	be	AUX
ftr-443	153	9	that	that	PRON
ftr-443	153	10	state	state	NOUN
ftr-443	153	11	law	law	NOUN
ftr-443	153	12	differences	difference	NOUN
ftr-443	153	13	in	in	ADP
ftr-443	153	14	entity	entity	NOUN
ftr-443	153	15	structure	structure	NOUN
ftr-443	153	16	and	and	CCONJ
ftr-443	153	17	governance	governance	NOUN
ftr-443	153	18	should	should	AUX
ftr-443	153	19	not	not	PART
ftr-443	153	20	be	be	AUX
ftr-443	153	21	controlling	control	VERB
ftr-443	153	22	for	for	ADP
ftr-443	153	23	federal	federal	ADJ
ftr-443	153	24	tax	tax	NOUN
ftr-443	153	25	purposes	purpose	NOUN
ftr-443	153	26	.	.	PUNCT
ftr-443	154	1	however	however	ADV
ftr-443	154	2	,	,	PUNCT
ftr-443	154	3	given	give	VERB
ftr-443	154	4	the	the	DET
ftr-443	154	5	substantial	substantial	ADJ
ftr-443	154	6	differences	difference	NOUN
ftr-443	154	7	between	between	ADP
ftr-443	154	8	subchapter	subchapter	NOUN
ftr-443	154	9	k	k	PROPN
ftr-443	154	10	,	,	PUNCT
ftr-443	154	11	the	the	DET
ftr-443	154	12	passthrough	passthrough	NOUN
ftr-443	154	13	regime	regime	NOUN
ftr-443	154	14	for	for	ADP
ftr-443	154	15	unincorporated	unincorporated	ADJ
ftr-443	154	16	entities	entity	NOUN
ftr-443	154	17	,	,	PUNCT
ftr-443	154	18	and	and	CCONJ
ftr-443	154	19	subchapter	subchapter	NOUN
ftr-443	154	20	s	s	PART
ftr-443	154	21	,	,	PUNCT
ftr-443	154	22	the	the	DET
ftr-443	154	23	passthrough	passthrough	NOUN
ftr-443	154	24	regime	regime	NOUN
ftr-443	154	25	for	for	ADP
ftr-443	154	26	incorporated	incorporated	ADJ
ftr-443	154	27	entities	entity	NOUN
ftr-443	154	28	,	,	PUNCT
ftr-443	154	29	this	this	DET
ftr-443	154	30	premise	premise	NOUN
ftr-443	154	31	is	be	AUX
ftr-443	154	32	not	not	PART
ftr-443	154	33	fully	fully	ADV
ftr-443	154	34	realized	realize	VERB
ftr-443	154	35	.	.	PUNCT
ftr-443	155	1	although	although	SCONJ
ftr-443	155	2	the	the	DET
ftr-443	155	3	possibility	possibility	NOUN
ftr-443	155	4	of	of	ADP
ftr-443	155	5	a	a	DET
ftr-443	155	6	single	single	ADJ
ftr-443	155	7	passthrough	passthrough	NOUN
ftr-443	155	8	regime	regime	NOUN
ftr-443	155	9	for	for	ADP
ftr-443	155	10	all	all	DET
ftr-443	155	11	pbfs	pbfs	NOUN
ftr-443	155	12	,	,	PUNCT
ftr-443	155	13	whether	whether	SCONJ
ftr-443	155	14	incorporated	incorporate	VERB
ftr-443	155	15	or	or	CCONJ
ftr-443	155	16	unincorporated	unincorporate	VERB
ftr-443	155	17	,	,	PUNCT
ftr-443	155	18	has	have	VERB
ftr-443	155	19	obvious	obvious	ADJ
ftr-443	155	20	appeal	appeal	NOUN
ftr-443	155	21	,	,	PUNCT
ftr-443	155	22	this	this	DET
ftr-443	155	23	vision	vision	NOUN
ftr-443	155	24	would	would	AUX
ftr-443	155	25	not	not	PART
ftr-443	155	26	be	be	AUX
ftr-443	155	27	without	without	ADP
ftr-443	155	28	its	its	PRON
ftr-443	155	29	own	own	ADJ
ftr-443	155	30	problems	problem	NOUN
ftr-443	155	31	.	.	PUNCT
ftr-443	156	1	consider	consider	VERB
ftr-443	156	2	the	the	DET
ftr-443	156	3	definitional	definitional	ADJ
ftr-443	156	4	problems	problem	NOUN
ftr-443	156	5	that	that	PRON
ftr-443	156	6	would	would	AUX
ftr-443	156	7	plague	plague	VERB
ftr-443	156	8	business	business	NOUN
ftr-443	156	9	lawyers	lawyer	NOUN
ftr-443	156	10	and	and	CCONJ
ftr-443	156	11	estate	estate	NOUN
ftr-443	156	12	planners	planner	NOUN
ftr-443	156	13	without	without	ADP
ftr-443	156	14	substantial	substantial	ADJ
ftr-443	156	15	tax	tax	NOUN
ftr-443	156	16	backgrounds	background	NOUN
ftr-443	156	17	in	in	ADP
ftr-443	156	18	working	work	VERB
ftr-443	156	19	with	with	ADP
ftr-443	156	20	incorporated	incorporated	ADJ
ftr-443	156	21	pbfs	pbfs	NOUN
ftr-443	156	22	taxed	tax	VERB
ftr-443	156	23	as	as	ADP
ftr-443	156	24	partnerships	partnership	NOUN
ftr-443	156	25	.	.	PUNCT
ftr-443	157	1	under	under	ADP
ftr-443	157	2	such	such	DET
ftr-443	157	3	a	a	DET
ftr-443	157	4	unified	unified	ADJ
ftr-443	157	5	passthrough	passthrough	NOUN
ftr-443	157	6	regime	regime	NOUN
ftr-443	157	7	,	,	PUNCT
ftr-443	157	8	preferred	preferred	ADJ
ftr-443	157	9	stock	stock	NOUN
ftr-443	157	10	would	would	AUX
ftr-443	157	11	be	be	AUX
ftr-443	157	12	nothing	nothing	PRON
ftr-443	157	13	more	more	ADJ
ftr-443	157	14	than	than	ADP
ftr-443	157	15	a	a	DET
ftr-443	157	16	preferred	preferred	ADJ
ftr-443	157	17	partnership	partnership	NOUN
ftr-443	157	18	interest	interest	NOUN
ftr-443	157	19	.	.	PUNCT
ftr-443	158	1	for	for	ADP
ftr-443	158	2	state	state	NOUN
ftr-443	158	3	law	law	NOUN
ftr-443	158	4	purposes	purpose	NOUN
ftr-443	158	5	,	,	PUNCT
ftr-443	158	6	however	however	ADV
ftr-443	158	7	,	,	PUNCT
ftr-443	158	8	the	the	DET
ftr-443	158	9	corporation	corporation	NOUN
ftr-443	158	10	must	must	AUX
ftr-443	158	11	have	have	VERB
ftr-443	158	12	adequate	adequate	ADJ
ftr-443	158	13	surplus	surplus	NOUN
ftr-443	158	14	to	to	PART
ftr-443	158	15	make	make	VERB
ftr-443	158	16	payments	payment	NOUN
ftr-443	158	17	on	on	ADP
ftr-443	158	18	the	the	DET
ftr-443	158	19	preferred	preferred	ADJ
ftr-443	158	20	stock	stock	NOUN
ftr-443	158	21	.	.	PUNCT
ftr-443	159	1	for	for	ADP
ftr-443	159	2	tax	tax	NOUN
ftr-443	159	3	purposes	purpose	NOUN
ftr-443	159	4	,	,	PUNCT
ftr-443	159	5	the	the	DET
ftr-443	159	6	preferred	preferred	ADJ
ftr-443	159	7	stock	stock	NOUN
ftr-443	159	8	might	might	AUX
ftr-443	159	9	even	even	ADV
ftr-443	159	10	receive	receive	VERB
ftr-443	159	11	a	a	DET
ftr-443	159	12	special	special	ADJ
ftr-443	159	13	allocation	allocation	NOUN
ftr-443	159	14	of	of	ADP
ftr-443	159	15	income	income	NOUN
ftr-443	159	16	.	.	PUNCT
ftr-443	160	1	would	would	AUX
ftr-443	160	2	the	the	DET
ftr-443	160	3	corporate	corporate	ADJ
ftr-443	160	4	and	and	CCONJ
ftr-443	160	5	banking	banking	NOUN
ftr-443	160	6	lawyers	lawyer	NOUN
ftr-443	160	7	understand	understand	VERB
ftr-443	160	8	this	this	DET
ftr-443	160	9	new	new	ADJ
ftr-443	160	10	science	science	NOUN
ftr-443	160	11	?	?	PUNCT
ftr-443	161	1	or	or	CCONJ
ftr-443	161	2	is	be	AUX
ftr-443	161	3	it	it	PRON
ftr-443	161	4	more	more	ADV
ftr-443	161	5	likely	likely	ADJ
ftr-443	161	6	to	to	PART
ftr-443	161	7	be	be	AUX
ftr-443	161	8	a	a	DET
ftr-443	161	9	hapless	hapless	ADJ
ftr-443	161	10	exercise	exercise	NOUN
ftr-443	161	11	into	into	ADP
ftr-443	161	12	schizophrenia	schizophrenia	NOUN
ftr-443	161	13	?	?	PUNCT
ftr-443	162	1	other	other	ADJ
ftr-443	162	2	follies	folly	NOUN
ftr-443	162	3	seem	seem	VERB
ftr-443	162	4	destined	destine	VERB
ftr-443	162	5	to	to	PART
ftr-443	162	6	happen	happen	VERB
ftr-443	162	7	.	.	PUNCT
ftr-443	163	1	a	a	DET
ftr-443	163	2	state	state	NOUN
ftr-443	163	3	law	law	NOUN
ftr-443	163	4	merger	merger	NOUN
ftr-443	163	5	between	between	ADP
ftr-443	163	6	two	two	NUM
ftr-443	163	7	corporations	corporation	NOUN
ftr-443	163	8	,	,	PUNCT
ftr-443	163	9	now	now	ADV
ftr-443	163	10	partnerships	partnership	NOUN
ftr-443	163	11	for	for	ADP
ftr-443	163	12	federal	federal	ADJ
ftr-443	163	13	tax	tax	NOUN
ftr-443	163	14	purposes	purpose	NOUN
ftr-443	163	15	,	,	PUNCT
ftr-443	163	16	could	could	AUX
ftr-443	163	17	be	be	AUX
ftr-443	163	18	a	a	DET
ftr-443	163	19	taxable	taxable	ADJ
ftr-443	163	20	event	event	NOUN
ftr-443	163	21	,	,	PUNCT
ftr-443	163	22	at	at	ADP
ftr-443	163	23	least	least	ADJ
ftr-443	163	24	with	with	ADP
ftr-443	163	25	respect	respect	NOUN
ftr-443	163	26	to	to	ADP
ftr-443	163	27	some	some	DET
ftr-443	163	28	partners	partner	NOUN
ftr-443	163	29	.	.	PUNCT
ftr-443	164	1	6	6	NUM
ftr-443	164	2	how	how	SCONJ
ftr-443	164	3	are	be	AUX
ftr-443	164	4	the	the	DET
ftr-443	164	5	entities	entity	NOUN
ftr-443	164	6	to	to	PART
ftr-443	164	7	be	be	AUX
ftr-443	164	8	treated	treat	VERB
ftr-443	164	9	for	for	ADP
ftr-443	164	10	estate	estate	NOUN
ftr-443	164	11	tax	tax	NOUN
ftr-443	164	12	purposes	purpose	NOUN
ftr-443	164	13	,	,	PUNCT
ftr-443	164	14	as	as	ADP
ftr-443	164	15	corporations	corporation	NOUN
ftr-443	164	16	or	or	CCONJ
ftr-443	164	17	as	as	ADP
ftr-443	164	18	partnerships?17	partnerships?17	PROPN
ftr-443	164	19	15	15	NUM
ftr-443	164	20	.	.	PUNCT
ftr-443	165	1	see	see	VERB
ftr-443	165	2	regs	reg	NOUN
ftr-443	165	3	.	.	PUNCT
ftr-443	166	1	§	§	PROPN
ftr-443	166	2	§	§	ADJ
ftr-443	166	3	301.7701	301.7701	NUM
ftr-443	166	4	-	-	SYM
ftr-443	166	5	2(a	2(a	NUM
ftr-443	166	6	)	)	PUNCT
ftr-443	166	7	,	,	PUNCT
ftr-443	166	8	301.7701	301.7701	NUM
ftr-443	166	9	-	-	SYM
ftr-443	166	10	3(a	3(a	NUM
ftr-443	166	11	)	)	PUNCT
ftr-443	166	12	.	.	PUNCT
ftr-443	167	1	16	16	NUM
ftr-443	167	2	.	.	PUNCT
ftr-443	168	1	see	see	VERB
ftr-443	168	2	regs	reg	NOUN
ftr-443	168	3	.	.	PUNCT
ftr-443	169	1	§	§	PROPN
ftr-443	169	2	1.708	1.708	NUM
ftr-443	169	3	-	-	SYM
ftr-443	169	4	1(b)(2	1(b)(2	NUM
ftr-443	169	5	)	)	PUNCT
ftr-443	169	6	.	.	PUNCT
ftr-443	170	1	17	17	NUM
ftr-443	170	2	.	.	X
ftr-443	171	1	for	for	ADP
ftr-443	171	2	example	example	NOUN
ftr-443	171	3	,	,	PUNCT
ftr-443	171	4	§	§	PROPN
ftr-443	171	5	303	303	NUM
ftr-443	171	6	,	,	PUNCT
ftr-443	171	7	which	which	PRON
ftr-443	171	8	does	do	AUX
ftr-443	171	9	not	not	PART
ftr-443	171	10	apply	apply	VERB
ftr-443	171	11	to	to	ADP
ftr-443	171	12	partnerships	partnership	NOUN
ftr-443	171	13	,	,	PUNCT
ftr-443	171	14	would	would	AUX
ftr-443	171	15	not	not	PART
ftr-443	171	16	apply	apply	VERB
ftr-443	171	17	to	to	ADP
ftr-443	171	18	a	a	DET
ftr-443	171	19	corporation	corporation	NOUN
ftr-443	171	20	taxed	tax	VERB
ftr-443	171	21	as	as	ADP
ftr-443	171	22	a	a	DET
ftr-443	171	23	partnership	partnership	NOUN
ftr-443	171	24	.	.	PUNCT
ftr-443	172	1	guidance	guidance	NOUN
ftr-443	172	2	is	be	AUX
ftr-443	172	3	presently	presently	ADV
ftr-443	172	4	needed	need	VERB
ftr-443	172	5	on	on	ADP
ftr-443	172	6	the	the	DET
ftr-443	172	7	treatment	treatment	NOUN
ftr-443	172	8	of	of	ADP
ftr-443	172	9	mergers	merger	NOUN
ftr-443	172	10	[	[	X
ftr-443	172	11	vol	vol	NOUN
ftr-443	172	12	.	.	NOUN
ftr-443	172	13	4:3	4:3	NUM
ftr-443	172	14	benefits	benefit	NOUN
ftr-443	172	15	and	and	CCONJ
ftr-443	172	16	burdens	burden	NOUN
ftr-443	172	17	of	of	ADP
ftr-443	172	18	subchapter	subchapter	NOUN
ftr-443	172	19	s	s	VERB
ftr-443	172	20	how	how	SCONJ
ftr-443	172	21	would	would	AUX
ftr-443	172	22	the	the	DET
ftr-443	172	23	principal	principal	NOUN
ftr-443	172	24	and	and	CCONJ
ftr-443	172	25	income	income	NOUN
ftr-443	172	26	act	act	NOUN
ftr-443	172	27	of	of	ADP
ftr-443	172	28	a	a	DET
ftr-443	172	29	particular	particular	ADJ
ftr-443	172	30	jurisdiction	jurisdiction	NOUN
ftr-443	172	31	apply	apply	VERB
ftr-443	172	32	to	to	ADP
ftr-443	172	33	distributions	distribution	NOUN
ftr-443	172	34	from	from	ADP
ftr-443	172	35	tax	tax	NOUN
ftr-443	172	36	nothings	nothing	NOUN
ftr-443	172	37	or	or	CCONJ
ftr-443	172	38	from	from	ADP
ftr-443	172	39	corporations	corporation	NOUN
ftr-443	172	40	that	that	PRON
ftr-443	172	41	are	be	AUX
ftr-443	172	42	partnerships	partnership	NOUN
ftr-443	172	43	and	and	CCONJ
ftr-443	172	44	vice	vice	NOUN
ftr-443	172	45	-	-	NOUN
ftr-443	172	46	versa	versa	ADV
ftr-443	172	47	.	.	PUNCT
ftr-443	173	1	consider	consider	VERB
ftr-443	173	2	the	the	DET
ftr-443	173	3	estate	estate	NOUN
ftr-443	173	4	planner	planner	NOUN
ftr-443	173	5	's	's	PART
ftr-443	173	6	task	task	NOUN
ftr-443	173	7	and	and	CCONJ
ftr-443	173	8	checklist	checklist	NOUN
ftr-443	173	9	of	of	ADP
ftr-443	173	10	questions	question	NOUN
ftr-443	173	11	that	that	PRON
ftr-443	173	12	she	she	PRON
ftr-443	173	13	must	must	AUX
ftr-443	173	14	ask	ask	VERB
ftr-443	173	15	in	in	ADP
ftr-443	173	16	order	order	NOUN
ftr-443	173	17	to	to	PART
ftr-443	173	18	prudently	prudently	ADV
ftr-443	173	19	plan	plan	VERB
ftr-443	173	20	for	for	ADP
ftr-443	173	21	the	the	DET
ftr-443	173	22	demise	demise	NOUN
ftr-443	173	23	of	of	ADP
ftr-443	173	24	a	a	DET
ftr-443	173	25	wealthy	wealthy	ADJ
ftr-443	173	26	client	client	NOUN
ftr-443	173	27	for	for	ADP
ftr-443	173	28	whom	whom	PRON
ftr-443	173	29	she	she	PRON
ftr-443	173	30	has	have	AUX
ftr-443	173	31	prepared	prepare	VERB
ftr-443	173	32	trust	trust	NOUN
ftr-443	173	33	and	and	CCONJ
ftr-443	173	34	will	will	AUX
ftr-443	173	35	documents	document	NOUN
ftr-443	173	36	for	for	ADP
ftr-443	173	37	years	year	NOUN
ftr-443	173	38	.	.	PUNCT
ftr-443	174	1	since	since	SCONJ
ftr-443	174	2	the	the	DET
ftr-443	174	3	last	last	ADJ
ftr-443	174	4	set	set	NOUN
ftr-443	174	5	of	of	ADP
ftr-443	174	6	will	will	NOUN
ftr-443	174	7	and	and	CCONJ
ftr-443	174	8	trusts	trust	NOUN
ftr-443	174	9	were	be	AUX
ftr-443	174	10	executed	execute	VERB
ftr-443	174	11	several	several	ADJ
ftr-443	174	12	years	year	NOUN
ftr-443	174	13	ago	ago	ADV
ftr-443	174	14	,	,	PUNCT
ftr-443	174	15	the	the	DET
ftr-443	174	16	llc	llc	NOUN
ftr-443	174	17	became	become	VERB
ftr-443	174	18	the	the	DET
ftr-443	174	19	entity	entity	NOUN
ftr-443	174	20	of	of	ADP
ftr-443	174	21	choice	choice	NOUN
ftr-443	174	22	,	,	PUNCT
ftr-443	174	23	the	the	DET
ftr-443	174	24	ctb	ctb	NOUN
ftr-443	174	25	regulations	regulation	NOUN
ftr-443	174	26	were	be	AUX
ftr-443	174	27	promulgated	promulgate	VERB
ftr-443	174	28	,	,	PUNCT
ftr-443	174	29	and	and	CCONJ
ftr-443	174	30	congress	congress	PROPN
ftr-443	174	31	has	have	AUX
ftr-443	174	32	adopted	adopt	VERB
ftr-443	174	33	the	the	DET
ftr-443	174	34	treasury	treasury	NOUN
ftr-443	174	35	's	's	PART
ftr-443	174	36	recent	recent	ADJ
ftr-443	174	37	proposals	proposal	NOUN
ftr-443	174	38	to	to	PART
ftr-443	174	39	treat	treat	VERB
ftr-443	174	40	a	a	DET
ftr-443	174	41	c	c	NOUN
ftr-443	174	42	to	to	ADP
ftr-443	174	43	s	s	PRON
ftr-443	174	44	or	or	CCONJ
ftr-443	174	45	s	s	X
ftr-443	174	46	to	to	ADP
ftr-443	174	47	k	k	PROPN
ftr-443	174	48	conversion	conversion	NOUN
ftr-443	174	49	as	as	ADP
ftr-443	174	50	a	a	DET
ftr-443	174	51	taxable	taxable	ADJ
ftr-443	174	52	liquidation	liquidation	NOUN
ftr-443	174	53	.	.	PUNCT
ftr-443	175	1	if	if	SCONJ
ftr-443	175	2	one	one	PRON
ftr-443	175	3	could	could	AUX
ftr-443	175	4	eavesdrop	eavesdrop	VERB
ftr-443	175	5	on	on	ADP
ftr-443	175	6	their	their	PRON
ftr-443	175	7	estate	estate	NOUN
ftr-443	175	8	planning	planning	NOUN
ftr-443	175	9	conversation	conversation	NOUN
ftr-443	175	10	,	,	PUNCT
ftr-443	175	11	which	which	PRON
ftr-443	175	12	will	will	AUX
ftr-443	175	13	occur	occur	VERB
ftr-443	175	14	sometime	sometime	ADV
ftr-443	175	15	in	in	ADP
ftr-443	175	16	the	the	DET
ftr-443	175	17	not	not	PART
ftr-443	175	18	too	too	ADV
ftr-443	175	19	distant	distant	ADJ
ftr-443	175	20	future	future	NOUN
ftr-443	175	21	,	,	PUNCT
ftr-443	175	22	it	it	PRON
ftr-443	175	23	might	might	AUX
ftr-443	175	24	go	go	VERB
ftr-443	175	25	like	like	ADP
ftr-443	175	26	this	this	PRON
ftr-443	175	27	.	.	PUNCT
ftr-443	176	1	lawyer	lawyer	NOUN
ftr-443	176	2	:	:	PUNCT
ftr-443	176	3	mr	mr	PROPN
ftr-443	176	4	.	.	PROPN
ftr-443	176	5	jones	jones	PROPN
ftr-443	176	6	,	,	PUNCT
ftr-443	176	7	tell	tell	VERB
ftr-443	176	8	me	i	PRON
ftr-443	176	9	about	about	ADP
ftr-443	176	10	your	your	PRON
ftr-443	176	11	corporation	corporation	NOUN
ftr-443	176	12	.	.	PUNCT
ftr-443	177	1	client	client	NOUN
ftr-443	177	2	:	:	PUNCT
ftr-443	178	1	well	well	INTJ
ftr-443	178	2	,	,	PUNCT
ftr-443	178	3	i	i	PRON
ftr-443	178	4	have	have	VERB
ftr-443	178	5	a	a	DET
ftr-443	178	6	great	great	ADJ
ftr-443	178	7	business	business	NOUN
ftr-443	178	8	.	.	PUNCT
ftr-443	179	1	i	i	PRON
ftr-443	179	2	have	have	AUX
ftr-443	179	3	had	have	VERB
ftr-443	179	4	it	it	PRON
ftr-443	179	5	for	for	ADP
ftr-443	179	6	many	many	ADJ
ftr-443	179	7	years	year	NOUN
ftr-443	179	8	,	,	PUNCT
ftr-443	179	9	and	and	CCONJ
ftr-443	179	10	i	i	PRON
ftr-443	179	11	am	be	AUX
ftr-443	179	12	proud	proud	ADJ
ftr-443	179	13	of	of	ADP
ftr-443	179	14	my	my	PRON
ftr-443	179	15	success	success	NOUN
ftr-443	179	16	.	.	PUNCT
ftr-443	180	1	i	i	PRON
ftr-443	180	2	know	know	VERB
ftr-443	180	3	that	that	DET
ftr-443	180	4	business	business	NOUN
ftr-443	180	5	as	as	ADV
ftr-443	180	6	well	well	ADV
ftr-443	180	7	as	as	ADP
ftr-443	180	8	anyone	anyone	PRON
ftr-443	180	9	in	in	ADP
ftr-443	180	10	the	the	DET
ftr-443	180	11	country	country	NOUN
ftr-443	180	12	.	.	PUNCT
ftr-443	181	1	but	but	CCONJ
ftr-443	181	2	,	,	PUNCT
ftr-443	181	3	i	i	PRON
ftr-443	181	4	am	be	AUX
ftr-443	181	5	not	not	PART
ftr-443	181	6	sure	sure	ADJ
ftr-443	181	7	if	if	SCONJ
ftr-443	181	8	i	i	PRON
ftr-443	181	9	can	can	AUX
ftr-443	181	10	tell	tell	VERB
ftr-443	181	11	you	you	PRON
ftr-443	181	12	,	,	PUNCT
ftr-443	181	13	lawyer	lawyer	NOUN
ftr-443	181	14	,	,	PUNCT
ftr-443	181	15	whether	whether	SCONJ
ftr-443	181	16	it	it	PRON
ftr-443	181	17	is	be	AUX
ftr-443	181	18	a	a	DET
ftr-443	181	19	corporation	corporation	NOUN
ftr-443	181	20	.	.	PUNCT
ftr-443	182	1	lawyer	lawyer	NOUN
ftr-443	182	2	:	:	PUNCT
ftr-443	183	1	well	well	INTJ
ftr-443	183	2	,	,	PUNCT
ftr-443	183	3	mr	mr	PROPN
ftr-443	183	4	.	.	PROPN
ftr-443	183	5	jones	jones	PROPN
ftr-443	183	6	,	,	PUNCT
ftr-443	183	7	why	why	SCONJ
ftr-443	183	8	is	be	AUX
ftr-443	183	9	it	it	PRON
ftr-443	183	10	that	that	SCONJ
ftr-443	183	11	you	you	PRON
ftr-443	183	12	do	do	AUX
ftr-443	183	13	n't	not	PART
ftr-443	183	14	know	know	VERB
ftr-443	183	15	whether	whether	SCONJ
ftr-443	183	16	you	you	PRON
ftr-443	183	17	have	have	VERB
ftr-443	183	18	a	a	DET
ftr-443	183	19	corporation	corporation	NOUN
ftr-443	183	20	?	?	PUNCT
ftr-443	184	1	you	you	PRON
ftr-443	184	2	've	have	AUX
ftr-443	184	3	had	have	VERB
ftr-443	184	4	the	the	DET
ftr-443	184	5	same	same	ADJ
ftr-443	184	6	business	business	NOUN
ftr-443	184	7	for	for	ADP
ftr-443	184	8	over	over	ADP
ftr-443	184	9	40	40	NUM
ftr-443	184	10	years	year	NOUN
ftr-443	184	11	?	?	PUNCT
ftr-443	185	1	client	client	NOUN
ftr-443	185	2	:	:	PUNCT
ftr-443	186	1	well	well	INTJ
ftr-443	186	2	,	,	PUNCT
ftr-443	186	3	the	the	DET
ftr-443	186	4	tax	tax	NOUN
ftr-443	186	5	people	people	NOUN
ftr-443	186	6	tell	tell	VERB
ftr-443	186	7	me	i	PRON
ftr-443	186	8	that	that	SCONJ
ftr-443	186	9	i	i	PRON
ftr-443	186	10	am	be	AUX
ftr-443	186	11	no	no	ADV
ftr-443	186	12	longer	long	ADV
ftr-443	186	13	a	a	DET
ftr-443	186	14	corporation	corporation	NOUN
ftr-443	186	15	but	but	CCONJ
ftr-443	186	16	instead	instead	ADV
ftr-443	186	17	i	i	PRON
ftr-443	186	18	am	be	AUX
ftr-443	186	19	a	a	DET
ftr-443	186	20	partnership	partnership	NOUN
ftr-443	186	21	with	with	ADP
ftr-443	186	22	my	my	PRON
ftr-443	186	23	fellow	fellow	ADJ
ftr-443	186	24	shareholders	shareholder	NOUN
ftr-443	186	25	who	who	PRON
ftr-443	186	26	are	be	AUX
ftr-443	186	27	partners	partner	NOUN
ftr-443	186	28	.	.	PUNCT
ftr-443	187	1	lawyer	lawyer	NOUN
ftr-443	187	2	.	.	PUNCT
ftr-443	188	1	you	you	PRON
ftr-443	188	2	mean	mean	VERB
ftr-443	188	3	abbott	abbott	PROPN
ftr-443	188	4	,	,	PUNCT
ftr-443	188	5	costello	costello	PROPN
ftr-443	188	6	,	,	PUNCT
ftr-443	188	7	and	and	CCONJ
ftr-443	188	8	the	the	DET
ftr-443	188	9	young	young	ADJ
ftr-443	188	10	guy	guy	NOUN
ftr-443	188	11	,	,	PUNCT
ftr-443	188	12	crystal	crystal	NOUN
ftr-443	188	13	?	?	PUNCT
ftr-443	189	1	client	client	NOUN
ftr-443	189	2	:	:	PUNCT
ftr-443	190	1	yeah	yeah	INTJ
ftr-443	190	2	.	.	PUNCT
ftr-443	191	1	lawyer	lawyer	NOUN
ftr-443	191	2	:	:	PUNCT
ftr-443	192	1	well	well	INTJ
ftr-443	192	2	,	,	PUNCT
ftr-443	192	3	mr	mr	PROPN
ftr-443	192	4	.	.	PROPN
ftr-443	192	5	jones	jones	PROPN
ftr-443	192	6	,	,	PUNCT
ftr-443	192	7	is	be	AUX
ftr-443	192	8	your	your	PRON
ftr-443	192	9	paycheck	paycheck	NOUN
ftr-443	192	10	drawn	draw	VERB
ftr-443	192	11	on	on	ADP
ftr-443	192	12	a	a	DET
ftr-443	192	13	corporation	corporation	NOUN
ftr-443	192	14	?	?	PUNCT
ftr-443	193	1	client	client	NOUN
ftr-443	193	2	:	:	PUNCT
ftr-443	194	1	yeah	yeah	INTJ
ftr-443	194	2	.	.	PUNCT
ftr-443	194	3	lawyer	lawyer	NOUN
ftr-443	194	4	.	.	PUNCT
ftr-443	195	1	do	do	AUX
ftr-443	195	2	you	you	PRON
ftr-443	195	3	file	file	VERB
ftr-443	195	4	an	an	DET
ftr-443	195	5	annual	annual	ADJ
ftr-443	195	6	corporation	corporation	NOUN
ftr-443	195	7	report	report	NOUN
ftr-443	195	8	with	with	ADP
ftr-443	195	9	the	the	DET
ftr-443	195	10	state	state	NOUN
ftr-443	195	11	and	and	CCONJ
ftr-443	195	12	hold	hold	VERB
ftr-443	195	13	directors	director	NOUN
ftr-443	195	14	and	and	CCONJ
ftr-443	195	15	shareholders	shareholder	NOUN
ftr-443	195	16	meetings	meeting	NOUN
ftr-443	195	17	?	?	PUNCT
ftr-443	196	1	client	client	NOUN
ftr-443	196	2	:	:	PUNCT
ftr-443	197	1	yeah	yeah	INTJ
ftr-443	197	2	.	.	PUNCT
ftr-443	197	3	lawyer	lawyer	NOUN
ftr-443	197	4	:	:	PUNCT
ftr-443	197	5	do	do	AUX
ftr-443	197	6	you	you	PRON
ftr-443	197	7	still	still	ADV
ftr-443	197	8	have	have	VERB
ftr-443	197	9	that	that	SCONJ
ftr-443	197	10	shareholders	shareholder	NOUN
ftr-443	197	11	agreement	agreement	NOUN
ftr-443	197	12	we	we	PRON
ftr-443	197	13	executed	execute	VERB
ftr-443	197	14	with	with	ADP
ftr-443	197	15	abbot	abbot	NOUN
ftr-443	197	16	,	,	PUNCT
ftr-443	197	17	costello	costello	PROPN
ftr-443	197	18	,	,	PUNCT
ftr-443	197	19	and	and	CCONJ
ftr-443	197	20	crystal	crystal	NOUN
ftr-443	197	21	years	year	NOUN
ftr-443	197	22	ago	ago	ADV
ftr-443	197	23	?	?	PUNCT
ftr-443	198	1	client	client	NOUN
ftr-443	198	2	:	:	PUNCT
ftr-443	199	1	yeah	yeah	INTJ
ftr-443	199	2	,	,	PUNCT
ftr-443	199	3	but	but	CCONJ
ftr-443	199	4	you	you	PRON
ftr-443	199	5	do	do	AUX
ftr-443	199	6	n't	not	PART
ftr-443	199	7	understand	understand	VERB
ftr-443	199	8	.	.	PUNCT
ftr-443	200	1	it	it	PRON
ftr-443	200	2	is	be	AUX
ftr-443	200	3	not	not	PART
ftr-443	200	4	a	a	DET
ftr-443	200	5	corporation	corporation	NOUN
ftr-443	200	6	.	.	PUNCT
ftr-443	201	1	it	it	PRON
ftr-443	201	2	's	be	AUX
ftr-443	201	3	a	a	DET
ftr-443	201	4	partnership	partnership	NOUN
ftr-443	201	5	or	or	CCONJ
ftr-443	201	6	an	an	DET
ftr-443	201	7	llc	llc	NOUN
ftr-443	201	8	thing	thing	NOUN
ftr-443	201	9	is	be	AUX
ftr-443	201	10	what	what	PRON
ftr-443	201	11	the	the	DET
ftr-443	201	12	tax	tax	NOUN
ftr-443	201	13	guys	guy	NOUN
ftr-443	201	14	are	be	AUX
ftr-443	201	15	saying	say	VERB
ftr-443	201	16	.	.	PUNCT
ftr-443	202	1	lawyer	lawyer	NOUN
ftr-443	202	2	.	.	PUNCT
ftr-443	203	1	you	you	PRON
ftr-443	203	2	mean	mean	VERB
ftr-443	203	3	your	your	PRON
ftr-443	203	4	corporation	corporation	NOUN
ftr-443	203	5	was	be	AUX
ftr-443	203	6	liquidated	liquidate	VERB
ftr-443	203	7	and	and	CCONJ
ftr-443	203	8	is	be	AUX
ftr-443	203	9	now	now	ADV
ftr-443	203	10	a	a	DET
ftr-443	203	11	partnership	partnership	NOUN
ftr-443	203	12	or	or	CCONJ
ftr-443	203	13	an	an	DET
ftr-443	203	14	llc	llc	NOUN
ftr-443	203	15	?	?	PUNCT
ftr-443	204	1	are	be	AUX
ftr-443	204	2	you	you	PRON
ftr-443	204	3	then	then	ADV
ftr-443	204	4	a	a	DET
ftr-443	204	5	member	member	NOUN
ftr-443	204	6	or	or	CCONJ
ftr-443	204	7	a	a	DET
ftr-443	204	8	manager	manager	NOUN
ftr-443	204	9	of	of	ADP
ftr-443	204	10	the	the	DET
ftr-443	204	11	llc	llc	PROPN
ftr-443	204	12	,	,	PUNCT
ftr-443	204	13	or	or	CCONJ
ftr-443	204	14	both	both	PRON
ftr-443	204	15	?	?	PUNCT
ftr-443	205	1	involving	involve	VERB
ftr-443	205	2	single	single	ADJ
ftr-443	205	3	-	-	PUNCT
ftr-443	205	4	member	member	NOUN
ftr-443	205	5	tax	tax	NOUN
ftr-443	205	6	nothings	nothing	NOUN
ftr-443	205	7	owned	own	VERB
ftr-443	205	8	by	by	ADP
ftr-443	205	9	corporations	corporation	NOUN
ftr-443	205	10	.	.	PUNCT
ftr-443	206	1	see	see	VERB
ftr-443	206	2	prop	prop	NOUN
ftr-443	206	3	.	.	PUNCT
ftr-443	207	1	regs	regs	PROPN
ftr-443	207	2	.	.	PUNCT
ftr-443	208	1	§	§	PROPN
ftr-443	208	2	301.77013(g	301.77013(g	PROPN
ftr-443	208	3	)	)	PUNCT
ftr-443	208	4	;	;	PUNCT
ftr-443	209	1	tech	tech	NOUN
ftr-443	209	2	.	.	PUNCT
ftr-443	210	1	adv	adv	PROPN
ftr-443	210	2	.	.	PUNCT
ftr-443	210	3	mem	mem	PROPN
ftr-443	210	4	.	.	PUNCT
ftr-443	210	5	98	98	NUM
ftr-443	210	6	-	-	SYM
ftr-443	210	7	22	22	NUM
ftr-443	210	8	-	-	PUNCT
ftr-443	210	9	0021	0021	NUM
ftr-443	210	10	(	(	PUNCT
ftr-443	210	11	oct	oct	PROPN
ftr-443	210	12	.	.	PROPN
ftr-443	210	13	23	23	NUM
ftr-443	210	14	,	,	PUNCT
ftr-443	210	15	1997	1997	NUM
ftr-443	210	16	)	)	PUNCT
ftr-443	210	17	.	.	PUNCT
ftr-443	211	1	1999	1999	NUM
ftr-443	211	2	]	]	PUNCT
ftr-443	211	3	florida	florida	PROPN
ftr-443	211	4	tax	tax	PROPN
ftr-443	211	5	review	review	NOUN
ftr-443	211	6	client	client	NOUN
ftr-443	211	7	:	:	PUNCT
ftr-443	211	8	you	you	PRON
ftr-443	211	9	did	do	AUX
ftr-443	211	10	n't	not	PART
ftr-443	211	11	listen	listen	VERB
ftr-443	211	12	to	to	ADP
ftr-443	211	13	me	i	PRON
ftr-443	211	14	,	,	PUNCT
ftr-443	211	15	lawyer	lawyer	NOUN
ftr-443	211	16	.	.	PUNCT
ftr-443	212	1	it	it	PRON
ftr-443	212	2	's	be	AUX
ftr-443	212	3	a	a	DET
ftr-443	212	4	corporation	corporation	NOUN
ftr-443	212	5	!	!	PUNCT
ftr-443	212	6	!	!	PUNCT
ftr-443	213	1	it	it	PRON
ftr-443	213	2	's	be	AUX
ftr-443	213	3	not	not	PART
ftr-443	213	4	a	a	DET
ftr-443	213	5	partnership	partnership	NOUN
ftr-443	213	6	or	or	CCONJ
ftr-443	213	7	an	an	DET
ftr-443	213	8	llc	llc	NOUN
ftr-443	213	9	.	.	PUNCT
ftr-443	214	1	only	only	ADV
ftr-443	214	2	for	for	ADP
ftr-443	214	3	tax	tax	NOUN
ftr-443	214	4	purposes	purpose	NOUN
ftr-443	214	5	is	be	AUX
ftr-443	214	6	it	it	PRON
ftr-443	214	7	a	a	DET
ftr-443	214	8	partnership	partnership	NOUN
ftr-443	214	9	.	.	PUNCT
ftr-443	215	1	lawyer	lawyer	NOUN
ftr-443	215	2	:	:	PUNCT
ftr-443	215	3	i	i	PRON
ftr-443	215	4	find	find	VERB
ftr-443	215	5	this	this	PRON
ftr-443	215	6	difficult	difficult	ADJ
ftr-443	215	7	to	to	PART
ftr-443	215	8	understand	understand	VERB
ftr-443	215	9	,	,	PUNCT
ftr-443	215	10	you	you	PRON
ftr-443	215	11	own	own	VERB
ftr-443	215	12	stock	stock	NOUN
ftr-443	215	13	,	,	PUNCT
ftr-443	215	14	you	you	PRON
ftr-443	215	15	get	get	AUX
ftr-443	215	16	paid	pay	VERB
ftr-443	215	17	from	from	ADP
ftr-443	215	18	a	a	DET
ftr-443	215	19	corporation	corporation	NOUN
ftr-443	215	20	,	,	PUNCT
ftr-443	215	21	you	you	PRON
ftr-443	215	22	have	have	VERB
ftr-443	215	23	a	a	DET
ftr-443	215	24	shareholders	shareholder	NOUN
ftr-443	215	25	'	'	PART
ftr-443	215	26	agreement	agreement	NOUN
ftr-443	215	27	,	,	PUNCT
ftr-443	215	28	you	you	PRON
ftr-443	215	29	have	have	AUX
ftr-443	215	30	run	run	VERB
ftr-443	215	31	the	the	DET
ftr-443	215	32	same	same	ADJ
ftr-443	215	33	business	business	NOUN
ftr-443	215	34	in	in	ADP
ftr-443	215	35	your	your	PRON
ftr-443	215	36	corporation	corporation	NOUN
ftr-443	215	37	for	for	ADP
ftr-443	215	38	over	over	ADP
ftr-443	215	39	40	40	NUM
ftr-443	215	40	years	year	NOUN
ftr-443	215	41	,	,	PUNCT
ftr-443	215	42	you	you	PRON
ftr-443	215	43	have	have	AUX
ftr-443	215	44	n't	not	PART
ftr-443	215	45	liquidated	liquidate	VERB
ftr-443	215	46	the	the	DET
ftr-443	215	47	corporation	corporation	NOUN
ftr-443	215	48	,	,	PUNCT
ftr-443	215	49	but	but	CCONJ
ftr-443	215	50	you	you	PRON
ftr-443	215	51	are	be	AUX
ftr-443	215	52	taxed	tax	VERB
ftr-443	215	53	as	as	ADP
ftr-443	215	54	a	a	DET
ftr-443	215	55	partnership	partnership	NOUN
ftr-443	215	56	.	.	PUNCT
ftr-443	216	1	does	do	AUX
ftr-443	216	2	that	that	PRON
ftr-443	216	3	mean	mean	VERB
ftr-443	216	4	you	you	PRON
ftr-443	216	5	have	have	VERB
ftr-443	216	6	a	a	DET
ftr-443	216	7	capital	capital	NOUN
ftr-443	216	8	account	account	NOUN
ftr-443	216	9	in	in	ADP
ftr-443	216	10	your	your	PRON
ftr-443	216	11	stock	stock	NOUN
ftr-443	216	12	?	?	PUNCT
ftr-443	217	1	i	i	PRON
ftr-443	217	2	mean	mean	VERB
ftr-443	217	3	,	,	PUNCT
ftr-443	217	4	if	if	SCONJ
ftr-443	217	5	your	your	PRON
ftr-443	217	6	capital	capital	NOUN
ftr-443	217	7	account	account	NOUN
ftr-443	217	8	is	be	AUX
ftr-443	217	9	negative	negative	ADJ
ftr-443	217	10	,	,	PUNCT
ftr-443	217	11	that	that	PRON
ftr-443	217	12	might	might	AUX
ftr-443	217	13	be	be	AUX
ftr-443	217	14	a	a	DET
ftr-443	217	15	liability	liability	NOUN
ftr-443	217	16	under	under	ADP
ftr-443	217	17	state	state	NOUN
ftr-443	217	18	law	law	NOUN
ftr-443	217	19	.	.	PUNCT
ftr-443	218	1	client	client	NOUN
ftr-443	218	2	:	:	PUNCT
ftr-443	218	3	ignore	ignore	VERB
ftr-443	218	4	state	state	NOUN
ftr-443	218	5	law	law	PROPN
ftr-443	218	6	dammit	dammit	NOUN
ftr-443	218	7	,	,	PUNCT
ftr-443	218	8	that	that	PRON
ftr-443	218	9	is	be	AUX
ftr-443	218	10	what	what	PRON
ftr-443	218	11	my	my	PRON
ftr-443	218	12	tax	tax	NOUN
ftr-443	218	13	advisers	adviser	NOUN
ftr-443	218	14	tell	tell	VERB
ftr-443	218	15	me	i	PRON
ftr-443	218	16	.	.	PUNCT
ftr-443	219	1	state	state	NOUN
ftr-443	219	2	law	law	NOUN
ftr-443	219	3	does	do	AUX
ftr-443	219	4	n't	not	PART
ftr-443	219	5	mean	mean	VERB
ftr-443	219	6	a	a	DET
ftr-443	219	7	thing	thing	NOUN
ftr-443	219	8	.	.	PUNCT
ftr-443	220	1	lawyer	lawyer	NOUN
ftr-443	220	2	:	:	PUNCT
ftr-443	220	3	let	let	VERB
ftr-443	220	4	's	us	PRON
ftr-443	220	5	go	go	VERB
ftr-443	220	6	through	through	ADP
ftr-443	220	7	this	this	DET
ftr-443	220	8	one	one	NUM
ftr-443	220	9	more	more	ADJ
ftr-443	220	10	time	time	NOUN
ftr-443	220	11	,	,	PUNCT
ftr-443	220	12	do	do	AUX
ftr-443	220	13	you	you	PRON
ftr-443	220	14	own	own	VERB
ftr-443	220	15	stock	stock	NOUN
ftr-443	220	16	in	in	ADP
ftr-443	220	17	a	a	DET
ftr-443	220	18	corporation	corporation	NOUN
ftr-443	220	19	,	,	PUNCT
ftr-443	220	20	or	or	CCONJ
ftr-443	220	21	an	an	DET
ftr-443	220	22	interest	interest	NOUN
ftr-443	220	23	in	in	ADP
ftr-443	220	24	a	a	DET
ftr-443	220	25	partnership	partnership	NOUN
ftr-443	220	26	,	,	PUNCT
ftr-443	220	27	mr	mr	PROPN
ftr-443	220	28	.	.	PROPN
ftr-443	220	29	jones	jones	PROPN
ftr-443	220	30	?	?	PUNCT
ftr-443	221	1	client	client	PROPN
ftr-443	221	2	:	:	PUNCT
ftr-443	222	1	i	i	PRON
ftr-443	222	2	'm	be	AUX
ftr-443	222	3	leaving	leave	VERB
ftr-443	222	4	.	.	PUNCT
ftr-443	223	1	as	as	SCONJ
ftr-443	223	2	reflected	reflect	VERB
ftr-443	223	3	by	by	ADP
ftr-443	223	4	this	this	PRON
ftr-443	223	5	not	not	PART
ftr-443	223	6	too	too	ADV
ftr-443	223	7	far	far	ADV
ftr-443	223	8	fetched	fetched	ADJ
ftr-443	223	9	dialogue	dialogue	NOUN
ftr-443	223	10	,	,	PUNCT
ftr-443	223	11	a	a	DET
ftr-443	223	12	single	single	ADJ
ftr-443	223	13	world	world	NOUN
ftr-443	223	14	for	for	ADP
ftr-443	223	15	taxing	tax	VERB
ftr-443	223	16	all	all	DET
ftr-443	223	17	pbfs	pbfs	NOUN
ftr-443	223	18	as	as	SCONJ
ftr-443	223	19	partnerships	partnership	NOUN
ftr-443	223	20	will	will	AUX
ftr-443	223	21	erase	erase	VERB
ftr-443	223	22	long	long	ADV
ftr-443	223	23	-	-	PUNCT
ftr-443	223	24	standing	standing	NOUN
ftr-443	223	25	accepted	accept	VERB
ftr-443	223	26	norms	norm	NOUN
ftr-443	223	27	of	of	ADP
ftr-443	223	28	corporate	corporate	ADJ
ftr-443	223	29	taxation	taxation	NOUN
ftr-443	223	30	.	.	PUNCT
ftr-443	224	1	in	in	ADP
ftr-443	224	2	its	its	PRON
ftr-443	224	3	wake	wake	NOUN
ftr-443	224	4	underlying	underlie	VERB
ftr-443	224	5	state	state	NOUN
ftr-443	224	6	law	law	NOUN
ftr-443	224	7	will	will	AUX
ftr-443	224	8	now	now	ADV
ftr-443	224	9	dissolve	dissolve	VERB
ftr-443	224	10	and	and	CCONJ
ftr-443	224	11	only	only	ADV
ftr-443	224	12	the	the	DET
ftr-443	224	13	tax	tax	NOUN
ftr-443	224	14	expert	expert	NOUN
ftr-443	224	15	,	,	PUNCT
ftr-443	224	16	sitting	sit	VERB
ftr-443	224	17	in	in	ADP
ftr-443	224	18	a	a	DET
ftr-443	224	19	laboratory	laboratory	NOUN
ftr-443	224	20	of	of	ADP
ftr-443	224	21	magic	magic	NOUN
ftr-443	224	22	and	and	CCONJ
ftr-443	224	23	metaphysics	metaphysic	NOUN
ftr-443	224	24	will	will	AUX
ftr-443	224	25	understand	understand	VERB
ftr-443	224	26	what	what	PRON
ftr-443	224	27	is	be	AUX
ftr-443	224	28	going	go	VERB
ftr-443	224	29	on	on	ADP
ftr-443	224	30	.	.	PUNCT
ftr-443	225	1	stock	stock	NOUN
ftr-443	225	2	is	be	AUX
ftr-443	225	3	not	not	PART
ftr-443	225	4	really	really	ADV
ftr-443	225	5	stock	stock	NOUN
ftr-443	225	6	,	,	PUNCT
ftr-443	225	7	but	but	CCONJ
ftr-443	225	8	instead	instead	ADV
ftr-443	225	9	is	be	AUX
ftr-443	225	10	as	as	ADP
ftr-443	225	11	a	a	DET
ftr-443	225	12	partnership	partnership	NOUN
ftr-443	225	13	interest	interest	NOUN
ftr-443	225	14	;	;	PUNCT
ftr-443	225	15	a	a	DET
ftr-443	225	16	partnership	partnership	NOUN
ftr-443	225	17	interest	interest	NOUN
ftr-443	225	18	is	be	AUX
ftr-443	225	19	not	not	PART
ftr-443	225	20	really	really	ADV
ftr-443	225	21	a	a	DET
ftr-443	225	22	partnership	partnership	NOUN
ftr-443	225	23	interest	interest	NOUN
ftr-443	225	24	but	but	CCONJ
ftr-443	225	25	is	be	AUX
ftr-443	225	26	to	to	PART
ftr-443	225	27	be	be	AUX
ftr-443	225	28	treated	treat	VERB
ftr-443	225	29	as	as	ADP
ftr-443	225	30	stock	stock	NOUN
ftr-443	225	31	;	;	PUNCT
ftr-443	225	32	a	a	DET
ftr-443	225	33	real	real	ADJ
ftr-443	225	34	entity	entity	NOUN
ftr-443	225	35	for	for	ADP
ftr-443	225	36	state	state	NOUN
ftr-443	225	37	law	law	NOUN
ftr-443	225	38	purposes	purpose	NOUN
ftr-443	225	39	is	be	AUX
ftr-443	225	40	really	really	ADV
ftr-443	225	41	a	a	DET
ftr-443	225	42	"	"	PUNCT
ftr-443	225	43	nothing	nothing	PRON
ftr-443	225	44	"	"	PUNCT
ftr-443	225	45	;	;	PUNCT
ftr-443	225	46	a	a	DET
ftr-443	225	47	corporation	corporation	NOUN
ftr-443	225	48	is	be	AUX
ftr-443	225	49	really	really	ADV
ftr-443	225	50	a	a	DET
ftr-443	225	51	partnership	partnership	NOUN
ftr-443	225	52	.	.	PUNCT
ftr-443	226	1	ii	ii	PROPN
ftr-443	226	2	.	.	PUNCT
ftr-443	226	3	s	s	PART
ftr-443	226	4	corporation	corporation	NOUN
ftr-443	226	5	versus	versus	ADP
ftr-443	226	6	partnership	partnership	NOUN
ftr-443	226	7	comparison	comparison	NOUN
ftr-443	226	8	after	after	ADP
ftr-443	226	9	the	the	DET
ftr-443	226	10	ctb	ctb	PROPN
ftr-443	226	11	regulations	regulation	NOUN
ftr-443	226	12	the	the	DET
ftr-443	226	13	past	past	ADJ
ftr-443	226	14	few	few	ADJ
ftr-443	226	15	years	year	NOUN
ftr-443	226	16	have	have	AUX
ftr-443	226	17	witnessed	witness	VERB
ftr-443	226	18	the	the	DET
ftr-443	226	19	growth	growth	NOUN
ftr-443	226	20	of	of	ADP
ftr-443	226	21	the	the	DET
ftr-443	226	22	llc	llc	PROPN
ftr-443	226	23	as	as	ADP
ftr-443	226	24	a	a	DET
ftr-443	226	25	preferred	preferred	ADJ
ftr-443	226	26	method	method	NOUN
ftr-443	226	27	for	for	ADP
ftr-443	226	28	organizing	organize	VERB
ftr-443	226	29	and	and	CCONJ
ftr-443	226	30	operating	operate	VERB
ftr-443	226	31	pbfs	pbfs	NOUN
ftr-443	226	32	.	.	PUNCT
ftr-443	227	1	although	although	SCONJ
ftr-443	227	2	lps	lps	PROPN
ftr-443	227	3	enjoy	enjoy	VERB
ftr-443	227	4	the	the	DET
ftr-443	227	5	same	same	ADJ
ftr-443	227	6	tax	tax	NOUN
ftr-443	227	7	advantages	advantage	NOUN
ftr-443	227	8	as	as	ADP
ftr-443	227	9	llcs	llcs	NOUN
ftr-443	227	10	,	,	PUNCT
ftr-443	227	11	the	the	DET
ftr-443	227	12	llc	llc	NOUN
ftr-443	227	13	permits	permit	VERB
ftr-443	227	14	members	member	NOUN
ftr-443	227	15	to	to	PART
ftr-443	227	16	be	be	AUX
ftr-443	227	17	active	active	ADJ
ftr-443	227	18	in	in	ADP
ftr-443	227	19	the	the	DET
ftr-443	227	20	organization	organization	NOUN
ftr-443	227	21	's	's	PART
ftr-443	227	22	day	day	NOUN
ftr-443	227	23	-	-	PUNCT
ftr-443	227	24	to	to	ADP
ftr-443	227	25	-	-	PUNCT
ftr-443	227	26	day	day	NOUN
ftr-443	227	27	affairs	affair	NOUN
ftr-443	227	28	without	without	ADP
ftr-443	227	29	risk	risk	NOUN
ftr-443	227	30	of	of	ADP
ftr-443	227	31	becoming	become	VERB
ftr-443	227	32	liable	liable	ADJ
ftr-443	227	33	as	as	ADP
ftr-443	227	34	general	general	ADJ
ftr-443	227	35	partners	partner	NOUN
ftr-443	227	36	.	.	PUNCT
ftr-443	228	1	the	the	DET
ftr-443	228	2	llc	llc	PROPN
ftr-443	228	3	's	's	PART
ftr-443	228	4	state	state	NOUN
ftr-443	228	5	-	-	PUNCT
ftr-443	228	6	law	law	NOUN
ftr-443	228	7	characteristics	characteristic	NOUN
ftr-443	228	8	closely	closely	ADV
ftr-443	228	9	resemble	resemble	VERB
ftr-443	228	10	those	those	PRON
ftr-443	228	11	of	of	ADP
ftr-443	228	12	the	the	DET
ftr-443	228	13	s	s	PART
ftr-443	228	14	corporation	corporation	NOUN
ftr-443	228	15	,	,	PUNCT
ftr-443	228	16	but	but	CCONJ
ftr-443	228	17	it	it	PRON
ftr-443	228	18	is	be	AUX
ftr-443	228	19	generally	generally	ADV
ftr-443	228	20	taxed	tax	VERB
ftr-443	228	21	as	as	ADP
ftr-443	228	22	a	a	DET
ftr-443	228	23	partnership	partnership	NOUN
ftr-443	228	24	.	.	PUNCT
ftr-443	229	1	a	a	DET
ftr-443	229	2	comparison	comparison	NOUN
ftr-443	229	3	of	of	ADP
ftr-443	229	4	s	s	NOUN
ftr-443	229	5	corporations	corporation	NOUN
ftr-443	229	6	and	and	CCONJ
ftr-443	229	7	llcs	llcs	NOUN
ftr-443	229	8	is	be	AUX
ftr-443	229	9	set	set	VERB
ftr-443	229	10	forth	forth	ADV
ftr-443	229	11	below	below	ADV
ftr-443	229	12	,	,	PUNCT
ftr-443	229	13	although	although	SCONJ
ftr-443	229	14	most	most	ADJ
ftr-443	229	15	of	of	ADP
ftr-443	229	16	the	the	DET
ftr-443	229	17	tax	tax	NOUN
ftr-443	229	18	comparisons	comparison	NOUN
ftr-443	229	19	are	be	AUX
ftr-443	229	20	the	the	DET
ftr-443	229	21	same	same	ADJ
ftr-443	229	22	for	for	ADP
ftr-443	229	23	limited	limited	ADJ
ftr-443	229	24	partnerships	partnership	NOUN
ftr-443	229	25	and	and	CCONJ
ftr-443	229	26	limited	limited	ADJ
ftr-443	229	27	liability	liability	NOUN
ftr-443	229	28	partnerships	partnership	NOUN
ftr-443	229	29	.	.	PUNCT
ftr-443	230	1	what	what	PRON
ftr-443	230	2	this	this	DET
ftr-443	230	3	comparison	comparison	NOUN
ftr-443	230	4	reveals	reveal	VERB
ftr-443	230	5	is	be	AUX
ftr-443	230	6	that	that	SCONJ
ftr-443	230	7	the	the	DET
ftr-443	230	8	combination	combination	NOUN
ftr-443	230	9	of	of	ADP
ftr-443	230	10	corporate	corporate	ADJ
ftr-443	230	11	state	state	NOUN
ftr-443	230	12	-	-	PUNCT
ftr-443	230	13	law	law	NOUN
ftr-443	230	14	characteristics	characteristic	NOUN
ftr-443	230	15	with	with	ADP
ftr-443	230	16	conduit	conduit	NOUN
ftr-443	230	17	tax	tax	NOUN
ftr-443	230	18	rules	rule	NOUN
ftr-443	230	19	and	and	CCONJ
ftr-443	230	20	the	the	DET
ftr-443	230	21	flexibility	flexibility	NOUN
ftr-443	230	22	of	of	ADP
ftr-443	230	23	subchapter	subchapter	NOUN
ftr-443	230	24	k	k	PROPN
ftr-443	230	25	makes	make	VERB
ftr-443	230	26	the	the	DET
ftr-443	230	27	llc	llc	PROPN
ftr-443	230	28	the	the	DET
ftr-443	230	29	super	super	NOUN
ftr-443	230	30	-	-	NOUN
ftr-443	230	31	passthrough	passthrough	ADJ
ftr-443	230	32	entity.1	entity.1	PROPN
ftr-443	230	33	18	18	NUM
ftr-443	230	34	.	.	PUNCT
ftr-443	231	1	publicly	publicly	ADV
ftr-443	231	2	traded	trade	VERB
ftr-443	231	3	partnerships	partnership	NOUN
ftr-443	231	4	are	be	AUX
ftr-443	231	5	treated	treat	VERB
ftr-443	231	6	as	as	ADP
ftr-443	231	7	corporations	corporation	NOUN
ftr-443	231	8	unless	unless	SCONJ
ftr-443	231	9	their	their	PRON
ftr-443	231	10	income	income	NOUN
ftr-443	231	11	is	be	AUX
ftr-443	231	12	predominately	predominately	ADV
ftr-443	231	13	from	from	ADP
ftr-443	231	14	passive	passive	ADJ
ftr-443	231	15	sources	source	NOUN
ftr-443	231	16	.	.	PUNCT
ftr-443	232	1	see	see	VERB
ftr-443	232	2	irc	irc	PROPN
ftr-443	232	3	§	§	PROPN
ftr-443	232	4	7704(a	7704(a	PROPN
ftr-443	232	5	)	)	PUNCT
ftr-443	232	6	&	&	CCONJ
ftr-443	232	7	(	(	PUNCT
ftr-443	232	8	c	c	NOUN
ftr-443	232	9	)	)	PUNCT
ftr-443	232	10	.	.	PUNCT
ftr-443	233	1	a	a	DET
ftr-443	233	2	partnership	partnership	NOUN
ftr-443	233	3	falls	fall	VERB
ftr-443	233	4	within	within	ADP
ftr-443	233	5	the	the	DET
ftr-443	233	6	scope	scope	NOUN
ftr-443	233	7	of	of	ADP
ftr-443	233	8	§	§	PROPN
ftr-443	233	9	7704	7704	NUM
ftr-443	233	10	if	if	SCONJ
ftr-443	233	11	its	its	PRON
ftr-443	233	12	interests	interest	NOUN
ftr-443	233	13	are	be	AUX
ftr-443	233	14	traded	trade	VERB
ftr-443	233	15	on	on	ADP
ftr-443	233	16	an	an	DET
ftr-443	233	17	established	establish	VERB
ftr-443	233	18	securities	security	NOUN
ftr-443	233	19	market	market	NOUN
ftr-443	233	20	or	or	CCONJ
ftr-443	233	21	are	be	AUX
ftr-443	233	22	readily	readily	ADV
ftr-443	233	23	[	[	X
ftr-443	233	24	vol	vol	NOUN
ftr-443	233	25	.	.	NOUN
ftr-443	233	26	4:3	4:3	NUM
ftr-443	233	27	benefits	benefit	NOUN
ftr-443	233	28	and	and	CCONJ
ftr-443	233	29	burdens	burden	NOUN
ftr-443	233	30	of	of	ADP
ftr-443	233	31	subchapter	subchapter	NOUN
ftr-443	233	32	s	s	PART
ftr-443	233	33	a.	a.	NOUN
ftr-443	233	34	state	state	NOUN
ftr-443	233	35	law	law	NOUN
ftr-443	233	36	differences	difference	VERB
ftr-443	233	37	a	a	DET
ftr-443	233	38	corporation	corporation	NOUN
ftr-443	233	39	,	,	PUNCT
ftr-443	233	40	c	c	NOUN
ftr-443	233	41	or	or	CCONJ
ftr-443	233	42	s	s	PROPN
ftr-443	233	43	,	,	PUNCT
ftr-443	233	44	is	be	AUX
ftr-443	233	45	organized	organize	VERB
ftr-443	233	46	under	under	ADP
ftr-443	233	47	a	a	DET
ftr-443	233	48	state	state	NOUN
ftr-443	233	49	statute	statute	NOUN
ftr-443	233	50	pursuant	pursuant	ADJ
ftr-443	233	51	to	to	ADP
ftr-443	233	52	its	its	PRON
ftr-443	233	53	corporate	corporate	ADJ
ftr-443	233	54	charter	charter	NOUN
ftr-443	233	55	,	,	PUNCT
ftr-443	233	56	which	which	PRON
ftr-443	233	57	usually	usually	ADV
ftr-443	233	58	identifies	identify	VERB
ftr-443	233	59	the	the	DET
ftr-443	233	60	corporation	corporation	NOUN
ftr-443	233	61	's	's	PART
ftr-443	233	62	purpose	purpose	NOUN
ftr-443	233	63	,	,	PUNCT
ftr-443	233	64	organizers	organizer	NOUN
ftr-443	233	65	or	or	CCONJ
ftr-443	233	66	incorporators	incorporator	NOUN
ftr-443	233	67	,	,	PUNCT
ftr-443	233	68	place	place	NOUN
ftr-443	233	69	of	of	ADP
ftr-443	233	70	residence	residence	NOUN
ftr-443	233	71	,	,	PUNCT
ftr-443	233	72	initial	initial	ADJ
ftr-443	233	73	board	board	NOUN
ftr-443	233	74	of	of	ADP
ftr-443	233	75	directors	director	NOUN
ftr-443	233	76	,	,	PUNCT
ftr-443	233	77	and	and	CCONJ
ftr-443	233	78	classes	class	NOUN
ftr-443	233	79	of	of	ADP
ftr-443	233	80	stock	stock	NOUN
ftr-443	233	81	.	.	PUNCT
ftr-443	234	1	by	by	ADP
ftr-443	234	2	-	-	PUNCT
ftr-443	234	3	laws	law	NOUN
ftr-443	234	4	are	be	AUX
ftr-443	234	5	adopted	adopt	VERB
ftr-443	234	6	by	by	ADP
ftr-443	234	7	the	the	DET
ftr-443	234	8	board	board	NOUN
ftr-443	234	9	of	of	ADP
ftr-443	234	10	directors	director	NOUN
ftr-443	234	11	.	.	PUNCT
ftr-443	235	1	shareholders	shareholder	NOUN
ftr-443	235	2	may	may	AUX
ftr-443	235	3	enter	enter	VERB
ftr-443	235	4	into	into	ADP
ftr-443	235	5	agreements	agreement	NOUN
ftr-443	235	6	concerning	concern	VERB
ftr-443	235	7	,	,	PUNCT
ftr-443	235	8	for	for	ADP
ftr-443	235	9	example	example	NOUN
ftr-443	235	10	,	,	PUNCT
ftr-443	235	11	the	the	DET
ftr-443	235	12	voting	voting	NOUN
ftr-443	235	13	of	of	ADP
ftr-443	235	14	shares	share	NOUN
ftr-443	235	15	,	,	PUNCT
ftr-443	235	16	participation	participation	NOUN
ftr-443	235	17	on	on	ADP
ftr-443	235	18	the	the	DET
ftr-443	235	19	board	board	NOUN
ftr-443	235	20	of	of	ADP
ftr-443	235	21	directors	director	NOUN
ftr-443	235	22	,	,	PUNCT
ftr-443	235	23	restrictions	restriction	NOUN
ftr-443	235	24	on	on	ADP
ftr-443	235	25	the	the	DET
ftr-443	235	26	transferability	transferability	NOUN
ftr-443	235	27	of	of	ADP
ftr-443	235	28	shares	share	NOUN
ftr-443	235	29	,	,	PUNCT
ftr-443	235	30	super	super	ADJ
ftr-443	235	31	-	-	ADJ
ftr-443	235	32	majority	majority	ADJ
ftr-443	235	33	voting	voting	NOUN
ftr-443	235	34	requirements	requirement	NOUN
ftr-443	235	35	on	on	ADP
ftr-443	235	36	some	some	DET
ftr-443	235	37	matters	matter	NOUN
ftr-443	235	38	,	,	PUNCT
ftr-443	235	39	and	and	CCONJ
ftr-443	235	40	buy	buy	NOUN
ftr-443	235	41	-	-	PUNCT
ftr-443	235	42	sell	sell	NOUN
ftr-443	235	43	arrangements	arrangement	NOUN
ftr-443	235	44	in	in	ADP
ftr-443	235	45	the	the	DET
ftr-443	235	46	event	event	NOUN
ftr-443	235	47	of	of	ADP
ftr-443	235	48	death	death	NOUN
ftr-443	235	49	or	or	CCONJ
ftr-443	235	50	other	other	ADJ
ftr-443	235	51	defined	define	VERB
ftr-443	235	52	event	event	NOUN
ftr-443	235	53	.	.	PUNCT
ftr-443	236	1	a	a	DET
ftr-443	236	2	corporation	corporation	NOUN
ftr-443	236	3	's	's	PART
ftr-443	236	4	owners	owner	NOUN
ftr-443	236	5	are	be	AUX
ftr-443	236	6	generally	generally	ADV
ftr-443	236	7	not	not	PART
ftr-443	236	8	liable	liable	ADJ
ftr-443	236	9	for	for	ADP
ftr-443	236	10	its	its	PRON
ftr-443	236	11	debts	debt	NOUN
ftr-443	236	12	,	,	PUNCT
ftr-443	236	13	and	and	CCONJ
ftr-443	236	14	the	the	DET
ftr-443	236	15	corporation	corporation	NOUN
ftr-443	236	16	has	have	AUX
ftr-443	236	17	centralized	centralize	VERB
ftr-443	236	18	management	management	NOUN
ftr-443	236	19	through	through	ADP
ftr-443	236	20	its	its	PRON
ftr-443	236	21	board	board	NOUN
ftr-443	236	22	of	of	ADP
ftr-443	236	23	directors	director	NOUN
ftr-443	236	24	and	and	CCONJ
ftr-443	236	25	exists	exist	VERB
ftr-443	236	26	perpetually	perpetually	ADV
ftr-443	236	27	until	until	SCONJ
ftr-443	236	28	it	it	PRON
ftr-443	236	29	is	be	AUX
ftr-443	236	30	dissolved	dissolve	VERB
ftr-443	236	31	by	by	ADP
ftr-443	236	32	vote	vote	NOUN
ftr-443	236	33	of	of	ADP
ftr-443	236	34	its	its	PRON
ftr-443	236	35	shareholders	shareholder	NOUN
ftr-443	236	36	.	.	PUNCT
ftr-443	237	1	a	a	DET
ftr-443	237	2	wealth	wealth	NOUN
ftr-443	237	3	of	of	ADP
ftr-443	237	4	jurisprudence	jurisprudence	NOUN
ftr-443	237	5	and	and	CCONJ
ftr-443	237	6	statutory	statutory	ADJ
ftr-443	237	7	authority	authority	NOUN
ftr-443	237	8	delineates	delineate	VERB
ftr-443	237	9	the	the	DET
ftr-443	237	10	duties	duty	NOUN
ftr-443	237	11	and	and	CCONJ
ftr-443	237	12	responsibilities	responsibility	NOUN
ftr-443	237	13	of	of	ADP
ftr-443	237	14	a	a	DET
ftr-443	237	15	corporation	corporation	NOUN
ftr-443	237	16	's	's	PART
ftr-443	237	17	officers	officer	NOUN
ftr-443	237	18	,	,	PUNCT
ftr-443	237	19	directors	director	NOUN
ftr-443	237	20	,	,	PUNCT
ftr-443	237	21	and	and	CCONJ
ftr-443	237	22	majority	majority	NOUN
ftr-443	237	23	shareholders	shareholder	NOUN
ftr-443	237	24	towards	towards	ADP
ftr-443	237	25	other	other	ADJ
ftr-443	237	26	shareholders	shareholder	NOUN
ftr-443	237	27	.	.	PUNCT
ftr-443	238	1	since	since	SCONJ
ftr-443	238	2	the	the	DET
ftr-443	238	3	corporation	corporation	NOUN
ftr-443	238	4	is	be	AUX
ftr-443	238	5	recognized	recognize	VERB
ftr-443	238	6	in	in	ADP
ftr-443	238	7	all	all	DET
ftr-443	238	8	jurisdictions	jurisdiction	NOUN
ftr-443	238	9	,	,	PUNCT
ftr-443	238	10	its	its	PRON
ftr-443	238	11	limited	limited	ADJ
ftr-443	238	12	liability	liability	NOUN
ftr-443	238	13	feature	feature	NOUN
ftr-443	238	14	is	be	AUX
ftr-443	238	15	universally	universally	ADV
ftr-443	238	16	accepted	accept	VERB
ftr-443	238	17	,	,	PUNCT
ftr-443	238	18	subject	subject	ADJ
ftr-443	238	19	to	to	ADP
ftr-443	238	20	limited	limited	ADJ
ftr-443	238	21	"	"	PUNCT
ftr-443	238	22	piercing	pierce	VERB
ftr-443	238	23	the	the	DET
ftr-443	238	24	corporate	corporate	ADJ
ftr-443	238	25	veil	veil	NOUN
ftr-443	238	26	"	"	PUNCT
ftr-443	238	27	theory	theory	NOUN
ftr-443	238	28	for	for	ADP
ftr-443	238	29	alter	alter	NOUN
ftr-443	238	30	ego	ego	ADJ
ftr-443	238	31	scenarios	scenario	NOUN
ftr-443	238	32	.	.	PUNCT
ftr-443	239	1	an	an	DET
ftr-443	239	2	llc	llc	NOUN
ftr-443	239	3	is	be	AUX
ftr-443	239	4	also	also	ADV
ftr-443	239	5	a	a	DET
ftr-443	239	6	creature	creature	NOUN
ftr-443	239	7	of	of	ADP
ftr-443	239	8	state	state	NOUN
ftr-443	239	9	law	law	NOUN
ftr-443	239	10	and	and	CCONJ
ftr-443	239	11	borrows	borrow	VERB
ftr-443	239	12	from	from	ADP
ftr-443	239	13	both	both	CCONJ
ftr-443	239	14	the	the	DET
ftr-443	239	15	centralized	centralized	ADJ
ftr-443	239	16	management	management	NOUN
ftr-443	239	17	model	model	NOUN
ftr-443	239	18	of	of	ADP
ftr-443	239	19	the	the	DET
ftr-443	239	20	corporation	corporation	NOUN
ftr-443	239	21	and	and	CCONJ
ftr-443	239	22	the	the	DET
ftr-443	239	23	aggregate	aggregate	ADJ
ftr-443	239	24	or	or	CCONJ
ftr-443	239	25	agency	agency	NOUN
ftr-443	239	26	model	model	NOUN
ftr-443	239	27	of	of	ADP
ftr-443	239	28	the	the	DET
ftr-443	239	29	partnership	partnership	NOUN
ftr-443	239	30	.	.	PUNCT
ftr-443	240	1	although	although	SCONJ
ftr-443	240	2	the	the	DET
ftr-443	240	3	states	state	NOUN
ftr-443	240	4	'	'	PART
ftr-443	240	5	llc	llc	NOUN
ftr-443	240	6	laws	law	NOUN
ftr-443	240	7	vary	vary	VERB
ftr-443	240	8	from	from	ADP
ftr-443	240	9	each	each	DET
ftr-443	240	10	other	other	ADJ
ftr-443	240	11	,	,	PUNCT
ftr-443	240	12	especially	especially	ADV
ftr-443	240	13	on	on	ADP
ftr-443	240	14	default	default	NOUN
ftr-443	240	15	provisions	provision	NOUN
ftr-443	240	16	,	,	PUNCT
ftr-443	240	17	the	the	DET
ftr-443	240	18	legislative	legislative	ADJ
ftr-443	240	19	trend	trend	NOUN
ftr-443	240	20	is	be	AUX
ftr-443	240	21	to	to	PART
ftr-443	240	22	permit	permit	VERB
ftr-443	240	23	freedom	freedom	NOUN
ftr-443	240	24	of	of	ADP
ftr-443	240	25	contract	contract	NOUN
ftr-443	240	26	among	among	ADP
ftr-443	240	27	llc	llc	PROPN
ftr-443	240	28	members	member	NOUN
ftr-443	240	29	on	on	ADP
ftr-443	240	30	fundamental	fundamental	ADJ
ftr-443	240	31	management	management	NOUN
ftr-443	240	32	and	and	CCONJ
ftr-443	240	33	ownership	ownership	NOUN
ftr-443	240	34	issues	issue	NOUN
ftr-443	240	35	.	.	PUNCT
ftr-443	241	1	as	as	ADP
ftr-443	241	2	a	a	DET
ftr-443	241	3	result	result	NOUN
ftr-443	241	4	,	,	PUNCT
ftr-443	241	5	the	the	DET
ftr-443	241	6	llc	llc	PROPN
ftr-443	241	7	,	,	PUNCT
ftr-443	241	8	through	through	ADP
ftr-443	241	9	a	a	DET
ftr-443	241	10	comprehensive	comprehensive	ADJ
ftr-443	241	11	member	member	NOUN
ftr-443	241	12	agreement	agreement	NOUN
ftr-443	241	13	,	,	PUNCT
ftr-443	241	14	can	can	AUX
ftr-443	241	15	blend	blend	VERB
ftr-443	241	16	the	the	DET
ftr-443	241	17	amounts	amount	NOUN
ftr-443	241	18	of	of	ADP
ftr-443	241	19	fiduciary	fiduciary	ADJ
ftr-443	241	20	responsibility	responsibility	NOUN
ftr-443	241	21	,	,	PUNCT
ftr-443	241	22	management	management	NOUN
ftr-443	241	23	,	,	PUNCT
ftr-443	241	24	and	and	CCONJ
ftr-443	241	25	voting	voting	NOUN
ftr-443	241	26	rules	rule	NOUN
ftr-443	241	27	desired	desire	VERB
ftr-443	241	28	by	by	ADP
ftr-443	241	29	the	the	DET
ftr-443	241	30	owners	owner	NOUN
ftr-443	241	31	.	.	PUNCT
ftr-443	241	32	'	'	PUNCT
ftr-443	242	1	9	9	NUM
ftr-443	242	2	as	as	ADP
ftr-443	242	3	the	the	DET
ftr-443	242	4	new	new	ADJ
ftr-443	242	5	entity	entity	NOUN
ftr-443	242	6	kid	kid	NOUN
ftr-443	242	7	on	on	ADP
ftr-443	242	8	the	the	DET
ftr-443	242	9	block	block	NOUN
ftr-443	242	10	,	,	PUNCT
ftr-443	242	11	however	however	ADV
ftr-443	242	12	,	,	PUNCT
ftr-443	242	13	there	there	PRON
ftr-443	242	14	is	be	VERB
ftr-443	242	15	not	not	PART
ftr-443	242	16	yet	yet	ADV
ftr-443	242	17	a	a	DET
ftr-443	242	18	body	body	NOUN
ftr-443	242	19	of	of	ADP
ftr-443	242	20	jurisprudence	jurisprudence	NOUN
ftr-443	242	21	that	that	PRON
ftr-443	242	22	can	can	AUX
ftr-443	242	23	be	be	AUX
ftr-443	242	24	drawn	draw	VERB
ftr-443	242	25	upon	upon	SCONJ
ftr-443	242	26	to	to	PART
ftr-443	242	27	guide	guide	VERB
ftr-443	242	28	llc	llc	PROPN
ftr-443	242	29	members	member	NOUN
ftr-443	242	30	as	as	ADP
ftr-443	242	31	to	to	ADP
ftr-443	242	32	their	their	PRON
ftr-443	242	33	rights	right	NOUN
ftr-443	242	34	and	and	CCONJ
ftr-443	242	35	duties	duty	NOUN
ftr-443	242	36	.	.	PUNCT
ftr-443	243	1	accordingly	accordingly	ADV
ftr-443	243	2	,	,	PUNCT
ftr-443	243	3	the	the	DET
ftr-443	243	4	members	member	NOUN
ftr-443	243	5	'	'	PART
ftr-443	243	6	agreement	agreement	NOUN
ftr-443	243	7	and	and	CCONJ
ftr-443	243	8	the	the	DET
ftr-443	243	9	rules	rule	NOUN
ftr-443	243	10	governing	govern	VERB
ftr-443	243	11	the	the	DET
ftr-443	243	12	interpretation	interpretation	NOUN
ftr-443	243	13	and	and	CCONJ
ftr-443	243	14	enforcement	enforcement	NOUN
ftr-443	243	15	of	of	ADP
ftr-443	243	16	contracts	contract	NOUN
ftr-443	243	17	has	have	VERB
ftr-443	243	18	paramount	paramount	ADJ
ftr-443	243	19	importance	importance	NOUN
ftr-443	243	20	.	.	PUNCT
ftr-443	244	1	because	because	SCONJ
ftr-443	244	2	the	the	DET
ftr-443	244	3	llc	llc	PROPN
ftr-443	244	4	allows	allow	VERB
ftr-443	244	5	the	the	DET
ftr-443	244	6	same	same	ADJ
ftr-443	244	7	type	type	NOUN
ftr-443	244	8	of	of	ADP
ftr-443	244	9	ownership	ownership	NOUN
ftr-443	244	10	and	and	CCONJ
ftr-443	244	11	management	management	NOUN
ftr-443	244	12	structure	structure	NOUN
ftr-443	244	13	available	available	ADJ
ftr-443	244	14	to	to	ADP
ftr-443	244	15	shareholders	shareholder	NOUN
ftr-443	244	16	in	in	ADP
ftr-443	244	17	a	a	DET
ftr-443	244	18	close	close	ADJ
ftr-443	244	19	corporation	corporation	NOUN
ftr-443	244	20	and	and	CCONJ
ftr-443	244	21	limited	limited	ADJ
ftr-443	244	22	liability	liability	NOUN
ftr-443	244	23	for	for	ADP
ftr-443	244	24	entity	entity	NOUN
ftr-443	244	25	obligations	obligation	NOUN
ftr-443	244	26	,	,	PUNCT
ftr-443	244	27	state	state	NOUN
ftr-443	244	28	law	law	NOUN
ftr-443	244	29	should	should	AUX
ftr-443	244	30	be	be	AUX
ftr-443	244	31	considered	consider	VERB
ftr-443	244	32	a	a	DET
ftr-443	244	33	neutral	neutral	ADJ
ftr-443	244	34	factor	factor	NOUN
ftr-443	244	35	in	in	ADP
ftr-443	244	36	comparing	compare	VERB
ftr-443	244	37	multiple	multiple	ADJ
ftr-443	244	38	member	member	NOUN
ftr-443	244	39	llcs	llcs	NOUN
ftr-443	244	40	to	to	ADP
ftr-443	244	41	s	s	NOUN
ftr-443	244	42	corporations	corporation	NOUN
ftr-443	244	43	.	.	PUNCT
ftr-443	245	1	the	the	DET
ftr-443	245	2	efficacy	efficacy	NOUN
ftr-443	245	3	of	of	ADP
ftr-443	245	4	a	a	DET
ftr-443	245	5	single	single	ADJ
ftr-443	245	6	member	member	NOUN
ftr-443	245	7	llc	llc	NOUN
ftr-443	245	8	for	for	ADP
ftr-443	245	9	conducting	conduct	VERB
ftr-443	245	10	business	business	NOUN
ftr-443	245	11	operations	operation	NOUN
ftr-443	245	12	in	in	ADP
ftr-443	245	13	multiple	multiple	ADJ
ftr-443	245	14	jurisdictions	jurisdiction	NOUN
ftr-443	245	15	is	be	AUX
ftr-443	245	16	tradeable	tradeable	ADJ
ftr-443	245	17	on	on	ADP
ftr-443	245	18	a	a	DET
ftr-443	245	19	secondary	secondary	ADJ
ftr-443	245	20	market	market	NOUN
ftr-443	245	21	or	or	CCONJ
ftr-443	245	22	the	the	DET
ftr-443	245	23	equivalent	equivalent	NOUN
ftr-443	245	24	of	of	ADP
ftr-443	245	25	a	a	DET
ftr-443	245	26	secondary	secondary	ADJ
ftr-443	245	27	market	market	NOUN
ftr-443	245	28	.	.	PUNCT
ftr-443	246	1	see	see	VERB
ftr-443	246	2	irc	irc	PROPN
ftr-443	246	3	§	§	PROPN
ftr-443	246	4	7704(b	7704(b	NOUN
ftr-443	246	5	)	)	PUNCT
ftr-443	246	6	;	;	PUNCT
ftr-443	246	7	regs	reg	NOUN
ftr-443	246	8	.	.	PUNCT
ftr-443	247	1	§	§	PROPN
ftr-443	247	2	§	§	PROPN
ftr-443	247	3	1.7704	1.7704	NUM
ftr-443	247	4	-	-	SYM
ftr-443	247	5	1(a)(1	1(a)(1	NUM
ftr-443	247	6	)	)	PUNCT
ftr-443	247	7	,	,	PUNCT
ftr-443	247	8	(	(	PUNCT
ftr-443	247	9	b	b	NOUN
ftr-443	247	10	)	)	PUNCT
ftr-443	247	11	.	.	PUNCT
ftr-443	248	1	some	some	DET
ftr-443	248	2	passive	passive	ADJ
ftr-443	248	3	publicly	publicly	ADV
ftr-443	248	4	-	-	PUNCT
ftr-443	248	5	traded	trade	VERB
ftr-443	248	6	partnerships	partnership	NOUN
ftr-443	248	7	still	still	ADV
ftr-443	248	8	qualify	qualify	VERB
ftr-443	248	9	for	for	ADP
ftr-443	248	10	passthrough	passthrough	NOUN
ftr-443	248	11	treatment	treatment	NOUN
ftr-443	248	12	.	.	PUNCT
ftr-443	249	1	see	see	VERB
ftr-443	249	2	irc	irc	PROPN
ftr-443	249	3	§	§	PROPN
ftr-443	249	4	7704(c	7704(c	NOUN
ftr-443	249	5	)	)	PUNCT
ftr-443	249	6	.	.	PUNCT
ftr-443	250	1	19	19	NUM
ftr-443	250	2	.	.	X
ftr-443	250	3	see	see	VERB
ftr-443	250	4	unif	unif	NOUN
ftr-443	250	5	.	.	PUNCT
ftr-443	251	1	lin	lin	PROPN
ftr-443	251	2	.	.	PUNCT
ftr-443	252	1	lia	lia	PROPN
ftr-443	252	2	.	.	PROPN
ftr-443	252	3	co.	co.	PROPN
ftr-443	252	4	act	act	PROPN
ftr-443	252	5	§	§	PROPN
ftr-443	252	6	103	103	NUM
ftr-443	252	7	,	,	PUNCT
ftr-443	252	8	6a	6a	NOUN
ftr-443	252	9	u.l.a	u.l.a	NOUN
ftr-443	252	10	.	.	PUNCT
ftr-443	253	1	434	434	NUM
ftr-443	253	2	-	-	SYM
ftr-443	253	3	35	35	NUM
ftr-443	253	4	(	(	PUNCT
ftr-443	253	5	1995	1995	NUM
ftr-443	253	6	)	)	PUNCT
ftr-443	253	7	(	(	PUNCT
ftr-443	253	8	allowing	allow	VERB
ftr-443	253	9	members	member	NOUN
ftr-443	253	10	to	to	PART
ftr-443	253	11	internally	internally	ADV
ftr-443	253	12	regulate	regulate	VERB
ftr-443	253	13	such	such	ADJ
ftr-443	253	14	matters	matter	NOUN
ftr-443	253	15	using	use	VERB
ftr-443	253	16	an	an	DET
ftr-443	253	17	operating	operating	NOUN
ftr-443	253	18	agreement	agreement	NOUN
ftr-443	253	19	)	)	PUNCT
ftr-443	253	20	.	.	PUNCT
ftr-443	254	1	19991	19991	NUM
ftr-443	254	2	florida	florida	PROPN
ftr-443	254	3	tax	tax	NOUN
ftr-443	254	4	review	review	NOUN
ftr-443	254	5	still	still	ADV
ftr-443	254	6	open	open	ADJ
ftr-443	254	7	to	to	PART
ftr-443	254	8	debate	debate	VERB
ftr-443	254	9	.	.	PUNCT
ftr-443	255	1	although	although	SCONJ
ftr-443	255	2	recognized	recognize	VERB
ftr-443	255	3	in	in	ADP
ftr-443	255	4	all	all	PRON
ftr-443	255	5	but	but	CCONJ
ftr-443	255	6	seven	seven	NUM
ftr-443	255	7	jurisdictions	jurisdiction	NOUN
ftr-443	255	8	,	,	PUNCT
ftr-443	255	9	"	"	PUNCT
ftr-443	255	10	the	the	DET
ftr-443	255	11	single	single	ADJ
ftr-443	255	12	member	member	NOUN
ftr-443	255	13	llc	llc	PROPN
ftr-443	255	14	may	may	AUX
ftr-443	255	15	afford	afford	VERB
ftr-443	255	16	its	its	PRON
ftr-443	255	17	owner	owner	NOUN
ftr-443	255	18	less	less	ADJ
ftr-443	255	19	protection	protection	NOUN
ftr-443	255	20	from	from	ADP
ftr-443	255	21	unlimited	unlimited	ADJ
ftr-443	255	22	liability	liability	NOUN
ftr-443	255	23	than	than	ADP
ftr-443	255	24	an	an	DET
ftr-443	255	25	s	s	NOUN
ftr-443	255	26	corporation	corporation	NOUN
ftr-443	255	27	,	,	PUNCT
ftr-443	255	28	which	which	PRON
ftr-443	255	29	generally	generally	ADV
ftr-443	255	30	ensures	ensure	VERB
ftr-443	255	31	limited	limited	ADJ
ftr-443	255	32	liability.2	liability.2	PROPN
ftr-443	255	33	b.	b.	PROPN
ftr-443	255	34	eligibility	eligibility	NOUN
ftr-443	255	35	limitations	limitation	NOUN
ftr-443	255	36	1	1	NUM
ftr-443	255	37	.	.	PUNCT
ftr-443	255	38	number	number	NOUN
ftr-443	255	39	of	of	ADP
ftr-443	255	40	equity	equity	NOUN
ftr-443	255	41	participants.-there	participants.-there	PROPN
ftr-443	255	42	is	be	AUX
ftr-443	255	43	no	no	DET
ftr-443	255	44	limitation	limitation	NOUN
ftr-443	255	45	on	on	ADP
ftr-443	255	46	the	the	DET
ftr-443	255	47	number	number	NOUN
ftr-443	255	48	of	of	ADP
ftr-443	255	49	investors	investor	NOUN
ftr-443	255	50	who	who	PRON
ftr-443	255	51	can	can	AUX
ftr-443	255	52	participate	participate	VERB
ftr-443	255	53	in	in	ADP
ftr-443	255	54	a	a	DET
ftr-443	255	55	partnership	partnership	NOUN
ftr-443	255	56	or	or	CCONJ
ftr-443	255	57	in	in	ADP
ftr-443	255	58	an	an	DET
ftr-443	255	59	llc	llc	NOUN
ftr-443	255	60	taxable	taxable	NOUN
ftr-443	255	61	as	as	ADP
ftr-443	255	62	a	a	DET
ftr-443	255	63	partnership	partnership	NOUN
ftr-443	255	64	,	,	PUNCT
ftr-443	255	65	although	although	SCONJ
ftr-443	255	66	a	a	DET
ftr-443	255	67	public	public	ADJ
ftr-443	255	68	market	market	NOUN
ftr-443	255	69	for	for	ADP
ftr-443	255	70	interests	interest	NOUN
ftr-443	255	71	in	in	ADP
ftr-443	255	72	the	the	DET
ftr-443	255	73	entity	entity	NOUN
ftr-443	255	74	will	will	AUX
ftr-443	255	75	cause	cause	VERB
ftr-443	255	76	it	it	PRON
ftr-443	255	77	to	to	PART
ftr-443	255	78	be	be	AUX
ftr-443	255	79	a	a	DET
ftr-443	255	80	publicly	publicly	ADV
ftr-443	255	81	traded	trade	VERB
ftr-443	255	82	partnership	partnership	NOUN
ftr-443	255	83	,	,	PUNCT
ftr-443	255	84	taxable	taxable	ADJ
ftr-443	255	85	under	under	ADP
ftr-443	255	86	§	§	NOUN
ftr-443	255	87	7704	7704	NUM
ftr-443	255	88	as	as	ADP
ftr-443	255	89	an	an	DET
ftr-443	255	90	association	association	NOUN
ftr-443	255	91	.	.	PUNCT
ftr-443	256	1	under	under	ADP
ftr-443	256	2	ctb	ctb	PROPN
ftr-443	256	3	,	,	PUNCT
ftr-443	256	4	a	a	DET
ftr-443	256	5	single	single	ADJ
ftr-443	256	6	member	member	NOUN
ftr-443	256	7	llc	llc	PROPN
ftr-443	256	8	is	be	AUX
ftr-443	256	9	usually	usually	ADV
ftr-443	256	10	ignored	ignore	VERB
ftr-443	256	11	as	as	ADP
ftr-443	256	12	a	a	DET
ftr-443	256	13	separate	separate	ADJ
ftr-443	256	14	entity	entity	NOUN
ftr-443	256	15	for	for	ADP
ftr-443	256	16	federal	federal	ADJ
ftr-443	256	17	tax	tax	NOUN
ftr-443	256	18	purposes	purpose	NOUN
ftr-443	256	19	unless	unless	SCONJ
ftr-443	256	20	an	an	DET
ftr-443	256	21	election	election	NOUN
ftr-443	256	22	is	be	AUX
ftr-443	256	23	made	make	VERB
ftr-443	256	24	to	to	PART
ftr-443	256	25	have	have	VERB
ftr-443	256	26	the	the	DET
ftr-443	256	27	entity	entity	NOUN
ftr-443	256	28	taxed	tax	VERB
ftr-443	256	29	as	as	ADP
ftr-443	256	30	a	a	DET
ftr-443	256	31	corporation.22	corporation.22	NOUN
ftr-443	256	32	presently	presently	ADV
ftr-443	256	33	,	,	PUNCT
ftr-443	256	34	all	all	DET
ftr-443	256	35	but	but	SCONJ
ftr-443	256	36	seven	seven	NUM
ftr-443	256	37	states	state	NOUN
ftr-443	256	38	permit	permit	VERB
ftr-443	256	39	single	single	ADJ
ftr-443	256	40	member	member	NOUN
ftr-443	256	41	llcs.23	llcs.23	VERB
ftr-443	256	42	a	a	DET
ftr-443	256	43	single	single	ADJ
ftr-443	256	44	member	member	NOUN
ftr-443	256	45	llc	llc	PROPN
ftr-443	256	46	,	,	PUNCT
ftr-443	256	47	organized	organize	VERB
ftr-443	256	48	in	in	ADP
ftr-443	256	49	one	one	NUM
ftr-443	256	50	of	of	ADP
ftr-443	256	51	the	the	DET
ftr-443	256	52	states	state	NOUN
ftr-443	256	53	authorizing	authorize	VERB
ftr-443	256	54	singlemember	singlemember	PROPN
ftr-443	256	55	llcs	llcs	NOUN
ftr-443	256	56	,	,	PUNCT
ftr-443	256	57	that	that	PRON
ftr-443	256	58	does	do	VERB
ftr-443	256	59	business	business	NOUN
ftr-443	256	60	in	in	ADP
ftr-443	256	61	states	state	NOUN
ftr-443	256	62	not	not	PART
ftr-443	256	63	allowing	allow	VERB
ftr-443	256	64	single	single	ADJ
ftr-443	256	65	member	member	NOUN
ftr-443	256	66	llcs	llcs	NOUN
ftr-443	256	67	must	must	AUX
ftr-443	256	68	grapple	grapple	VERB
ftr-443	256	69	with	with	ADP
ftr-443	256	70	critical	critical	ADJ
ftr-443	256	71	state	state	NOUN
ftr-443	256	72	law	law	NOUN
ftr-443	256	73	conflicts	conflict	NOUN
ftr-443	256	74	of	of	ADP
ftr-443	256	75	law	law	NOUN
ftr-443	256	76	questions	question	NOUN
ftr-443	256	77	as	as	ADP
ftr-443	256	78	to	to	ADP
ftr-443	256	79	whether	whether	SCONJ
ftr-443	256	80	the	the	DET
ftr-443	256	81	other	other	ADJ
ftr-443	256	82	states	state	NOUN
ftr-443	256	83	will	will	AUX
ftr-443	256	84	recognize	recognize	VERB
ftr-443	256	85	the	the	DET
ftr-443	256	86	limited	limited	ADJ
ftr-443	256	87	liability	liability	NOUN
ftr-443	256	88	of	of	ADP
ftr-443	256	89	the	the	DET
ftr-443	256	90	foreign	foreign	PROPN
ftr-443	256	91	llc	llc	PROPN
ftr-443	256	92	's	's	PART
ftr-443	256	93	single	single	ADJ
ftr-443	256	94	member	member	NOUN
ftr-443	256	95	.	.	PUNCT
ftr-443	257	1	subchapter	subchapter	PROPN
ftr-443	257	2	s	s	PART
ftr-443	257	3	has	have	AUX
ftr-443	257	4	always	always	ADV
ftr-443	257	5	restricted	restrict	VERB
ftr-443	257	6	the	the	DET
ftr-443	257	7	number	number	NOUN
ftr-443	257	8	of	of	ADP
ftr-443	257	9	shareholders.2	shareholders.2	NOUN
ftr-443	257	10	4	4	NUM
ftr-443	257	11	starting	start	VERB
ftr-443	257	12	off	off	ADP
ftr-443	257	13	by	by	ADP
ftr-443	257	14	limiting	limit	VERB
ftr-443	257	15	s	s	PART
ftr-443	257	16	corporations	corporation	NOUN
ftr-443	257	17	to	to	ADP
ftr-443	257	18	not	not	PART
ftr-443	257	19	more	more	ADJ
ftr-443	257	20	than	than	ADP
ftr-443	257	21	10	10	NUM
ftr-443	257	22	shareholders	shareholder	NOUN
ftr-443	257	23	,	,	PUNCT
ftr-443	257	24	congress	congress	PROPN
ftr-443	257	25	gradually	gradually	ADV
ftr-443	257	26	increased	increase	VERB
ftr-443	257	27	the	the	DET
ftr-443	257	28	maximum	maximum	ADJ
ftr-443	257	29	number	number	NOUN
ftr-443	257	30	to	to	ADP
ftr-443	257	31	the	the	DET
ftr-443	257	32	present	present	ADJ
ftr-443	257	33	75	75	NUM
ftr-443	257	34	.	.	PUNCT
ftr-443	257	35	'	'	PUNCT
ftr-443	257	36	spouses	spouse	NOUN
ftr-443	257	37	and	and	CCONJ
ftr-443	257	38	their	their	PRON
ftr-443	257	39	estates	estate	NOUN
ftr-443	257	40	are	be	AUX
ftr-443	257	41	considered	consider	VERB
ftr-443	257	42	to	to	PART
ftr-443	257	43	be	be	AUX
ftr-443	257	44	one	one	NUM
ftr-443	257	45	shareholder	shareholder	NOUN
ftr-443	257	46	,	,	PUNCT
ftr-443	257	47	regardless	regardless	ADV
ftr-443	257	48	of	of	ADP
ftr-443	257	49	which	which	DET
ftr-443	257	50	spouse	spouse	NOUN
ftr-443	257	51	owns	own	VERB
ftr-443	257	52	the	the	DET
ftr-443	257	53	stock	stock	NOUN
ftr-443	257	54	and	and	CCONJ
ftr-443	257	55	even	even	ADV
ftr-443	257	56	if	if	SCONJ
ftr-443	257	57	they	they	PRON
ftr-443	257	58	are	be	AUX
ftr-443	257	59	both	both	ADV
ftr-443	257	60	shareholders,26	shareholders,26	NUM
ftr-443	257	61	but	but	CCONJ
ftr-443	257	62	20	20	NUM
ftr-443	257	63	.	.	PUNCT
ftr-443	258	1	bruce	bruce	PROPN
ftr-443	258	2	p.	p.	PROPN
ftr-443	258	3	ely	ely	PROPN
ftr-443	258	4	&	&	CCONJ
ftr-443	258	5	christopher	christopher	PROPN
ftr-443	258	6	r.	r.	PROPN
ftr-443	258	7	grissom	grissom	PROPN
ftr-443	258	8	,	,	PUNCT
ftr-443	258	9	the	the	DET
ftr-443	258	10	llc	llc	PROPN
ftr-443	258	11	/	/	SYM
ftr-443	258	12	llp	llp	PROPN
ftr-443	258	13	scorecard	scorecard	NOUN
ftr-443	258	14	,	,	PUNCT
ftr-443	258	15	81	81	NUM
ftr-443	258	16	tax	tax	NOUN
ftr-443	258	17	notes	note	NOUN
ftr-443	258	18	1005	1005	NUM
ftr-443	258	19	(	(	PUNCT
ftr-443	258	20	nov	nov	PROPN
ftr-443	258	21	.	.	PROPN
ftr-443	258	22	23	23	NUM
ftr-443	258	23	,	,	PUNCT
ftr-443	258	24	1998	1998	NUM
ftr-443	258	25	)	)	PUNCT
ftr-443	258	26	(	(	PUNCT
ftr-443	258	27	california	california	PROPN
ftr-443	258	28	,	,	PUNCT
ftr-443	258	29	district	district	PROPN
ftr-443	258	30	of	of	ADP
ftr-443	258	31	columbia	columbia	PROPN
ftr-443	258	32	,	,	PUNCT
ftr-443	258	33	idaho	idaho	PROPN
ftr-443	258	34	,	,	PUNCT
ftr-443	258	35	massachusetts	massachusetts	PROPN
ftr-443	258	36	,	,	PUNCT
ftr-443	258	37	montana	montana	PROPN
ftr-443	258	38	,	,	PUNCT
ftr-443	258	39	pennsylvania	pennsylvania	PROPN
ftr-443	258	40	and	and	CCONJ
ftr-443	258	41	tennessee	tennessee	PROPN
ftr-443	258	42	either	either	CCONJ
ftr-443	258	43	do	do	AUX
ftr-443	258	44	not	not	PART
ftr-443	258	45	recognize	recognize	VERB
ftr-443	258	46	or	or	CCONJ
ftr-443	258	47	do	do	AUX
ftr-443	258	48	not	not	PART
ftr-443	258	49	clearly	clearly	ADV
ftr-443	258	50	recognize	recognize	VERB
ftr-443	258	51	single	single	ADJ
ftr-443	258	52	member	member	NOUN
ftr-443	258	53	llcs	llcs	NOUN
ftr-443	258	54	)	)	PUNCT
ftr-443	258	55	.	.	PUNCT
ftr-443	259	1	21	21	NUM
ftr-443	259	2	.	.	PUNCT
ftr-443	260	1	however	however	ADV
ftr-443	260	2	,	,	PUNCT
ftr-443	260	3	the	the	DET
ftr-443	260	4	separate	separate	ADJ
ftr-443	260	5	identity	identity	NOUN
ftr-443	260	6	and	and	CCONJ
ftr-443	260	7	formalities	formality	NOUN
ftr-443	260	8	of	of	ADP
ftr-443	260	9	the	the	DET
ftr-443	260	10	corporation	corporation	NOUN
ftr-443	260	11	must	must	AUX
ftr-443	260	12	be	be	AUX
ftr-443	260	13	observed	observe	VERB
ftr-443	260	14	by	by	ADP
ftr-443	260	15	the	the	DET
ftr-443	260	16	sole	sole	ADJ
ftr-443	260	17	shareholder	shareholder	NOUN
ftr-443	260	18	to	to	PART
ftr-443	260	19	avoid	avoid	VERB
ftr-443	260	20	a	a	DET
ftr-443	260	21	nominee	nominee	NOUN
ftr-443	260	22	or	or	CCONJ
ftr-443	260	23	"	"	PUNCT
ftr-443	260	24	pierce	pierce	PROPN
ftr-443	260	25	the	the	DET
ftr-443	260	26	corporate	corporate	ADJ
ftr-443	260	27	veil	veil	NOUN
ftr-443	260	28	"	"	PUNCT
ftr-443	260	29	attack	attack	NOUN
ftr-443	260	30	.	.	PUNCT
ftr-443	261	1	see	see	VERB
ftr-443	261	2	also	also	ADV
ftr-443	261	3	james	james	PROPN
ftr-443	261	4	d.	d.	PROPN
ftr-443	261	5	cox	cox	PROPN
ftr-443	261	6	&	&	CCONJ
ftr-443	261	7	brian	brian	PROPN
ftr-443	261	8	w.	w.	PROPN
ftr-443	261	9	woods	woods	PROPN
ftr-443	261	10	,	,	PUNCT
ftr-443	261	11	piercing	pierce	VERB
ftr-443	261	12	the	the	DET
ftr-443	261	13	veil	veil	NOUN
ftr-443	261	14	in	in	ADP
ftr-443	261	15	limited	limited	ADJ
ftr-443	261	16	liability	liability	NOUN
ftr-443	261	17	companies	company	NOUN
ftr-443	261	18	,	,	PUNCT
ftr-443	261	19	4	4	NUM
ftr-443	261	20	j.	j.	PROPN
ftr-443	261	21	lim	lim	PROPN
ftr-443	261	22	.	.	PUNCT
ftr-443	262	1	lia	lia	PROPN
ftr-443	262	2	.	.	PROPN
ftr-443	262	3	co.	co.	PROPN
ftr-443	262	4	24	24	NUM
ftr-443	262	5	(	(	PUNCT
ftr-443	262	6	1997	1997	NUM
ftr-443	262	7	)	)	PUNCT
ftr-443	262	8	.	.	PUNCT
ftr-443	263	1	22	22	NUM
ftr-443	263	2	.	.	PUNCT
ftr-443	264	1	see	see	VERB
ftr-443	264	2	regs	reg	NOUN
ftr-443	264	3	.	.	PUNCT
ftr-443	265	1	§	§	PROPN
ftr-443	265	2	301.7701	301.7701	NUM
ftr-443	265	3	-	-	SYM
ftr-443	265	4	3(b)(1	3(b)(1	NUM
ftr-443	265	5	)	)	PUNCT
ftr-443	265	6	;	;	PUNCT
ftr-443	265	7	gen	gen	PROPN
ftr-443	265	8	.	.	PROPN
ftr-443	265	9	couns	couns	PROPN
ftr-443	265	10	.	.	PUNCT
ftr-443	266	1	mem	mem	PROPN
ftr-443	266	2	.	.	PUNCT
ftr-443	267	1	39,395	39,395	NUM
ftr-443	267	2	(	(	PUNCT
ftr-443	267	3	aug	aug	PROPN
ftr-443	267	4	.	.	PROPN
ftr-443	267	5	5	5	NUM
ftr-443	267	6	,	,	PUNCT
ftr-443	267	7	1985	1985	NUM
ftr-443	267	8	)	)	PUNCT
ftr-443	267	9	(	(	PUNCT
ftr-443	267	10	fourpart	fourpart	NOUN
ftr-443	267	11	test	test	NOUN
ftr-443	267	12	under	under	ADP
ftr-443	267	13	prior	prior	ADJ
ftr-443	267	14	regulations	regulation	NOUN
ftr-443	267	15	applied	apply	VERB
ftr-443	267	16	to	to	ADP
ftr-443	267	17	single	single	ADJ
ftr-443	267	18	member	member	NOUN
ftr-443	267	19	entity	entity	NOUN
ftr-443	267	20	)	)	PUNCT
ftr-443	267	21	;	;	PUNCT
ftr-443	267	22	francis	francis	PROPN
ftr-443	267	23	j.	j.	PROPN
ftr-443	267	24	wirth	wirth	PROPN
ftr-443	267	25	&	&	CCONJ
ftr-443	267	26	kenneth	kenneth	PROPN
ftr-443	267	27	l.	l.	PROPN
ftr-443	267	28	harris	harris	PROPN
ftr-443	267	29	,	,	PUNCT
ftr-443	267	30	tax	tax	NOUN
ftr-443	267	31	classification	classification	NOUN
ftr-443	267	32	of	of	ADP
ftr-443	267	33	the	the	DET
ftr-443	267	34	one	one	NUM
ftr-443	267	35	-	-	PUNCT
ftr-443	267	36	member	member	NOUN
ftr-443	267	37	limited	limit	VERB
ftr-443	267	38	liability	liability	NOUN
ftr-443	267	39	company	company	NOUN
ftr-443	267	40	,	,	PUNCT
ftr-443	267	41	59	59	NUM
ftr-443	267	42	tax	tax	NOUN
ftr-443	267	43	notes	note	NOUN
ftr-443	267	44	1829	1829	NUM
ftr-443	267	45	(	(	PUNCT
ftr-443	267	46	june	june	PROPN
ftr-443	267	47	28	28	NUM
ftr-443	267	48	,	,	PUNCT
ftr-443	267	49	1993	1993	NUM
ftr-443	267	50	)	)	PUNCT
ftr-443	267	51	.	.	PUNCT
ftr-443	268	1	23	23	NUM
ftr-443	268	2	.	.	PUNCT
ftr-443	269	1	see	see	VERB
ftr-443	269	2	ely	ely	PROPN
ftr-443	269	3	&	&	CCONJ
ftr-443	269	4	grissom	grissom	PROPN
ftr-443	269	5	,	,	PUNCT
ftr-443	269	6	supra	supra	PROPN
ftr-443	269	7	note	note	NOUN
ftr-443	269	8	20	20	NUM
ftr-443	269	9	,	,	PUNCT
ftr-443	269	10	at	at	ADP
ftr-443	269	11	1005	1005	NUM
ftr-443	269	12	.	.	PUNCT
ftr-443	270	1	24	24	NUM
ftr-443	270	2	.	.	PUNCT
ftr-443	271	1	until	until	ADP
ftr-443	271	2	recently	recently	ADV
ftr-443	271	3	,	,	PUNCT
ftr-443	271	4	use	use	NOUN
ftr-443	271	5	of	of	ADP
ftr-443	271	6	multiple	multiple	ADJ
ftr-443	271	7	s	s	PART
ftr-443	271	8	corporations	corporation	NOUN
ftr-443	271	9	to	to	PART
ftr-443	271	10	engage	engage	VERB
ftr-443	271	11	in	in	ADP
ftr-443	271	12	a	a	DET
ftr-443	271	13	single	single	ADJ
ftr-443	271	14	business	business	NOUN
ftr-443	271	15	as	as	ADP
ftr-443	271	16	partners	partner	NOUN
ftr-443	271	17	,	,	PUNCT
ftr-443	271	18	in	in	ADP
ftr-443	271	19	order	order	NOUN
ftr-443	271	20	to	to	PART
ftr-443	271	21	circumvent	circumvent	VERB
ftr-443	271	22	the	the	DET
ftr-443	271	23	shareholder	shareholder	NOUN
ftr-443	271	24	number	number	NOUN
ftr-443	271	25	limitation	limitation	NOUN
ftr-443	271	26	,	,	PUNCT
ftr-443	271	27	jeopardized	jeopardize	VERB
ftr-443	271	28	each	each	DET
ftr-443	271	29	s	s	PART
ftr-443	271	30	corporation	corporation	NOUN
ftr-443	271	31	's	's	PART
ftr-443	271	32	election	election	NOUN
ftr-443	271	33	.	.	PUNCT
ftr-443	272	1	rev	rev	PROPN
ftr-443	272	2	.	.	PUNCT
ftr-443	273	1	rul	rul	PROPN
ftr-443	273	2	.	.	PUNCT
ftr-443	274	1	77	77	NUM
ftr-443	274	2	-	-	SYM
ftr-443	274	3	220	220	NUM
ftr-443	274	4	,	,	PUNCT
ftr-443	274	5	1977	1977	NUM
ftr-443	274	6	-	-	SYM
ftr-443	274	7	1	1	NUM
ftr-443	274	8	c.b	c.b	PROPN
ftr-443	274	9	.	.	PROPN
ftr-443	274	10	263	263	NUM
ftr-443	274	11	,	,	PUNCT
ftr-443	274	12	revoked	revoke	VERB
ftr-443	274	13	by	by	ADP
ftr-443	274	14	rev	rev	PROPN
ftr-443	274	15	.	.	PROPN
ftr-443	274	16	rul	rul	PROPN
ftr-443	274	17	.	.	PUNCT
ftr-443	275	1	94	94	NUM
ftr-443	275	2	-	-	SYM
ftr-443	275	3	43	43	NUM
ftr-443	275	4	,	,	PUNCT
ftr-443	275	5	1994	1994	NUM
ftr-443	275	6	-	-	SYM
ftr-443	275	7	2	2	NUM
ftr-443	275	8	c.b	c.b	PROPN
ftr-443	275	9	.	.	PROPN
ftr-443	275	10	198	198	NUM
ftr-443	275	11	.	.	PUNCT
ftr-443	276	1	see	see	AUX
ftr-443	276	2	also	also	ADV
ftr-443	276	3	rev	rev	VERB
ftr-443	276	4	.	.	PUNCT
ftr-443	277	1	rul	rul	NOUN
ftr-443	277	2	.	.	PUNCT
ftr-443	278	1	78	78	NUM
ftr-443	278	2	-	-	SYM
ftr-443	278	3	390	390	NUM
ftr-443	278	4	,	,	PUNCT
ftr-443	278	5	1978	1978	NUM
ftr-443	278	6	-	-	SYM
ftr-443	278	7	2	2	NUM
ftr-443	278	8	c.b	c.b	PROPN
ftr-443	278	9	.	.	PROPN
ftr-443	278	10	220	220	NUM
ftr-443	278	11	(	(	PUNCT
ftr-443	278	12	more	more	ADJ
ftr-443	278	13	than	than	ADP
ftr-443	278	14	maximum	maximum	ADJ
ftr-443	278	15	number	number	NOUN
ftr-443	278	16	of	of	ADP
ftr-443	278	17	shareholders	shareholder	NOUN
ftr-443	278	18	receiving	receive	VERB
ftr-443	278	19	distributions	distribution	NOUN
ftr-443	278	20	during	during	ADP
ftr-443	278	21	year	year	NOUN
ftr-443	278	22	as	as	ADP
ftr-443	278	23	a	a	DET
ftr-443	278	24	result	result	NOUN
ftr-443	278	25	of	of	ADP
ftr-443	278	26	a	a	DET
ftr-443	278	27	stock	stock	NOUN
ftr-443	278	28	transfer	transfer	NOUN
ftr-443	278	29	did	do	AUX
ftr-443	278	30	not	not	PART
ftr-443	278	31	result	result	VERB
ftr-443	278	32	in	in	ADP
ftr-443	278	33	termination	termination	NOUN
ftr-443	278	34	)	)	PUNCT
ftr-443	278	35	.	.	PUNCT
ftr-443	279	1	25	25	NUM
ftr-443	279	2	.	.	PUNCT
ftr-443	279	3	see	see	VERB
ftr-443	279	4	irc	irc	PROPN
ftr-443	279	5	§	§	PROPN
ftr-443	279	6	1361(b)(1)(a	1361(b)(1)(a	NUM
ftr-443	279	7	)	)	PUNCT
ftr-443	279	8	(	(	PUNCT
ftr-443	279	9	ceiling	ceiling	NOUN
ftr-443	279	10	is	be	AUX
ftr-443	279	11	75	75	NUM
ftr-443	279	12	shareholders	shareholder	NOUN
ftr-443	279	13	for	for	ADP
ftr-443	279	14	taxable	taxable	ADJ
ftr-443	279	15	years	year	NOUN
ftr-443	279	16	beginning	begin	VERB
ftr-443	279	17	after	after	ADP
ftr-443	279	18	1986	1986	NUM
ftr-443	279	19	)	)	PUNCT
ftr-443	279	20	.	.	PUNCT
ftr-443	280	1	26	26	NUM
ftr-443	280	2	.	.	PUNCT
ftr-443	280	3	irc	irc	PROPN
ftr-443	280	4	§	§	PROPN
ftr-443	280	5	1361(c)(1	1361(c)(1	NUM
ftr-443	280	6	)	)	PUNCT
ftr-443	280	7	.	.	PUNCT
ftr-443	281	1	[	[	X
ftr-443	281	2	vol	vol	NOUN
ftr-443	281	3	4:3	4:3	NUM
ftr-443	281	4	benefits	benefit	NOUN
ftr-443	281	5	and	and	CCONJ
ftr-443	281	6	burdens	burden	NOUN
ftr-443	281	7	of	of	ADP
ftr-443	281	8	subchapter	subchapter	NOUN
ftr-443	281	9	s	s	VERB
ftr-443	281	10	there	there	PRON
ftr-443	281	11	is	be	VERB
ftr-443	281	12	no	no	DET
ftr-443	281	13	other	other	ADJ
ftr-443	281	14	rule	rule	NOUN
ftr-443	281	15	for	for	ADP
ftr-443	281	16	attributing	attribute	VERB
ftr-443	281	17	stock	stock	NOUN
ftr-443	281	18	among	among	ADP
ftr-443	281	19	family	family	NOUN
ftr-443	281	20	members	member	NOUN
ftr-443	281	21	or	or	CCONJ
ftr-443	281	22	entities	entity	NOUN
ftr-443	281	23	.	.	PUNCT
ftr-443	281	24	"	"	PUNCT
ftr-443	282	1	the	the	DET
ftr-443	282	2	increases	increase	NOUN
ftr-443	282	3	in	in	ADP
ftr-443	282	4	the	the	DET
ftr-443	282	5	shareholder	shareholder	NOUN
ftr-443	282	6	ceiling	ceiling	NOUN
ftr-443	282	7	were	be	AUX
ftr-443	282	8	intended	intend	VERB
ftr-443	282	9	to	to	PART
ftr-443	282	10	facilitate	facilitate	VERB
ftr-443	282	11	multi	multi	ADJ
ftr-443	282	12	-	-	ADJ
ftr-443	282	13	generational	generational	ADJ
ftr-443	282	14	ownership	ownership	NOUN
ftr-443	282	15	of	of	ADP
ftr-443	282	16	s	s	NOUN
ftr-443	282	17	corporations	corporation	NOUN
ftr-443	282	18	,	,	PUNCT
ftr-443	282	19	an	an	DET
ftr-443	282	20	important	important	ADJ
ftr-443	282	21	factor	factor	NOUN
ftr-443	282	22	in	in	ADP
ftr-443	282	23	estate	estate	NOUN
ftr-443	282	24	planning	planning	NOUN
ftr-443	282	25	for	for	ADP
ftr-443	282	26	shareholders	shareholder	NOUN
ftr-443	282	27	.	.	PUNCT
ftr-443	283	1	however	however	ADV
ftr-443	283	2	,	,	PUNCT
ftr-443	283	3	the	the	DET
ftr-443	283	4	number	number	NOUN
ftr-443	283	5	limitation	limitation	NOUN
ftr-443	283	6	has	have	AUX
ftr-443	283	7	never	never	ADV
ftr-443	283	8	been	be	AUX
ftr-443	283	9	problematic	problematic	ADJ
ftr-443	283	10	for	for	ADP
ftr-443	283	11	most	most	ADJ
ftr-443	283	12	s	s	PART
ftr-443	283	13	corporations	corporation	NOUN
ftr-443	283	14	because	because	SCONJ
ftr-443	283	15	the	the	DET
ftr-443	283	16	overwhelming	overwhelming	ADJ
ftr-443	283	17	majority	majority	NOUN
ftr-443	283	18	of	of	ADP
ftr-443	283	19	them	they	PRON
ftr-443	283	20	have	have	VERB
ftr-443	283	21	five	five	NUM
ftr-443	283	22	or	or	CCONJ
ftr-443	283	23	fewer	few	ADJ
ftr-443	283	24	shareholders	shareholder	NOUN
ftr-443	283	25	.	.	PUNCT
ftr-443	284	1	2	2	NUM
ftr-443	284	2	2	2	NUM
ftr-443	284	3	.	.	PUNCT
ftr-443	284	4	eligible	eligible	ADJ
ftr-443	284	5	equity	equity	NOUN
ftr-443	284	6	participants.-although	participants.-although	PROPN
ftr-443	284	7	any	any	DET
ftr-443	284	8	individual	individual	ADJ
ftr-443	284	9	or	or	CCONJ
ftr-443	284	10	entity	entity	NOUN
ftr-443	284	11	,	,	PUNCT
ftr-443	284	12	whether	whether	SCONJ
ftr-443	284	13	domestic	domestic	ADJ
ftr-443	284	14	or	or	CCONJ
ftr-443	284	15	foreign	foreign	ADJ
ftr-443	284	16	,	,	PUNCT
ftr-443	284	17	including	include	VERB
ftr-443	284	18	a	a	DET
ftr-443	284	19	trust	trust	NOUN
ftr-443	284	20	,	,	PUNCT
ftr-443	284	21	estate	estate	NOUN
ftr-443	284	22	,	,	PUNCT
ftr-443	284	23	corporation	corporation	NOUN
ftr-443	284	24	,	,	PUNCT
ftr-443	284	25	llc	llc	PROPN
ftr-443	284	26	,	,	PUNCT
ftr-443	284	27	llp	llp	PROPN
ftr-443	284	28	,	,	PUNCT
ftr-443	284	29	or	or	CCONJ
ftr-443	284	30	partnership	partnership	NOUN
ftr-443	284	31	,	,	PUNCT
ftr-443	284	32	may	may	AUX
ftr-443	284	33	be	be	AUX
ftr-443	284	34	a	a	DET
ftr-443	284	35	member	member	NOUN
ftr-443	284	36	of	of	ADP
ftr-443	284	37	an	an	DET
ftr-443	284	38	llc	llc	PROPN
ftr-443	284	39	,	,	PUNCT
ftr-443	284	40	s	s	PART
ftr-443	284	41	corporations	corporation	NOUN
ftr-443	284	42	continue	continue	VERB
ftr-443	284	43	to	to	PART
ftr-443	284	44	be	be	AUX
ftr-443	284	45	subject	subject	ADJ
ftr-443	284	46	to	to	ADP
ftr-443	284	47	rigid	rigid	ADJ
ftr-443	284	48	shareholder	shareholder	NOUN
ftr-443	284	49	eligibility	eligibility	NOUN
ftr-443	284	50	limitations	limitation	NOUN
ftr-443	284	51	.	.	PUNCT
ftr-443	285	1	for	for	ADP
ftr-443	285	2	example	example	NOUN
ftr-443	285	3	,	,	PUNCT
ftr-443	285	4	nonresident	nonresident	ADJ
ftr-443	285	5	aliens	alien	NOUN
ftr-443	285	6	are	be	AUX
ftr-443	285	7	not	not	PART
ftr-443	285	8	permitted	permit	VERB
ftr-443	285	9	to	to	PART
ftr-443	285	10	own	own	VERB
ftr-443	285	11	s	s	PART
ftr-443	285	12	stock	stock	NOUN
ftr-443	285	13	,	,	PUNCT
ftr-443	285	14	even	even	ADV
ftr-443	285	15	though	though	SCONJ
ftr-443	285	16	tax	tax	NOUN
ftr-443	285	17	compliance	compliance	NOUN
ftr-443	285	18	concerns	concern	NOUN
ftr-443	285	19	could	could	AUX
ftr-443	285	20	be	be	AUX
ftr-443	285	21	greatly	greatly	ADV
ftr-443	285	22	reduced	reduce	VERB
ftr-443	285	23	by	by	ADP
ftr-443	285	24	a	a	DET
ftr-443	285	25	withholding	withholding	NOUN
ftr-443	285	26	regime	regime	NOUN
ftr-443	285	27	like	like	ADP
ftr-443	285	28	the	the	DET
ftr-443	285	29	one	one	NOUN
ftr-443	285	30	presently	presently	ADV
ftr-443	285	31	in	in	ADP
ftr-443	285	32	place	place	NOUN
ftr-443	285	33	for	for	ADP
ftr-443	285	34	partnerships	partnership	NOUN
ftr-443	285	35	with	with	ADP
ftr-443	285	36	foreign	foreign	ADJ
ftr-443	285	37	partners.2	partners.2	PROPN
ftr-443	285	38	"	"	PUNCT
ftr-443	285	39	similarly	similarly	ADV
ftr-443	285	40	,	,	PUNCT
ftr-443	285	41	a	a	DET
ftr-443	285	42	corporation	corporation	NOUN
ftr-443	285	43	may	may	AUX
ftr-443	285	44	not	not	PART
ftr-443	285	45	own	own	VERB
ftr-443	285	46	stock	stock	NOUN
ftr-443	285	47	in	in	ADP
ftr-443	285	48	an	an	DET
ftr-443	285	49	s	s	NOUN
ftr-443	285	50	corporation	corporation	NOUN
ftr-443	285	51	,	,	PUNCT
ftr-443	285	52	"	"	PUNCT
ftr-443	285	53	although	although	SCONJ
ftr-443	285	54	a	a	DET
ftr-443	285	55	qualified	qualified	ADJ
ftr-443	285	56	subchapter	subchapter	NOUN
ftr-443	285	57	s	s	PART
ftr-443	285	58	subsidiary	subsidiary	NOUN
ftr-443	285	59	(	(	PUNCT
ftr-443	285	60	qsub	qsub	PROPN
ftr-443	285	61	)	)	PUNCT
ftr-443	285	62	rule	rule	NOUN
ftr-443	285	63	,	,	PUNCT
ftr-443	285	64	discussed	discuss	VERB
ftr-443	285	65	more	more	ADV
ftr-443	285	66	fully	fully	ADV
ftr-443	285	67	below	below	ADV
ftr-443	285	68	,	,	PUNCT
ftr-443	285	69	is	be	AUX
ftr-443	285	70	an	an	DET
ftr-443	285	71	important	important	ADJ
ftr-443	285	72	exception	exception	NOUN
ftr-443	285	73	to	to	ADP
ftr-443	285	74	this	this	DET
ftr-443	285	75	prohibition	prohibition	NOUN
ftr-443	285	76	.	.	PUNCT
ftr-443	286	1	partnerships	partnership	NOUN
ftr-443	286	2	,	,	PUNCT
ftr-443	286	3	including	include	VERB
ftr-443	286	4	llcs	llcs	NOUN
ftr-443	286	5	and	and	CCONJ
ftr-443	286	6	lllps	lllp	NOUN
ftr-443	286	7	,	,	PUNCT
ftr-443	286	8	are	be	AUX
ftr-443	286	9	also	also	ADV
ftr-443	286	10	impermissible	impermissible	ADJ
ftr-443	286	11	shareholders	shareholder	NOUN
ftr-443	286	12	of	of	ADP
ftr-443	286	13	an	an	DET
ftr-443	286	14	s	s	NOUN
ftr-443	286	15	corporation.3	corporation.3	NOUN
ftr-443	286	16	'	'	PUNCT
ftr-443	286	17	the	the	DET
ftr-443	286	18	same	same	ADJ
ftr-443	286	19	holds	hold	VERB
ftr-443	286	20	true	true	ADJ
ftr-443	286	21	for	for	ADP
ftr-443	286	22	trusts	trust	NOUN
ftr-443	286	23	that	that	PRON
ftr-443	286	24	are	be	AUX
ftr-443	286	25	not	not	PART
ftr-443	286	26	grantor	grantor	NOUN
ftr-443	286	27	trusts	trust	NOUN
ftr-443	286	28	,	,	PUNCT
ftr-443	286	29	qualified	qualified	ADJ
ftr-443	286	30	subchapter	subchapter	NOUN
ftr-443	286	31	s	s	PART
ftr-443	286	32	trusts	trust	NOUN
ftr-443	286	33	(	(	PUNCT
ftr-443	286	34	qsss	qsss	NOUN
ftr-443	286	35	)	)	PUNCT
ftr-443	286	36	,	,	PUNCT
ftr-443	286	37	or	or	CCONJ
ftr-443	286	38	electing	elect	VERB
ftr-443	286	39	small	small	ADJ
ftr-443	286	40	business	business	NOUN
ftr-443	286	41	trusts	trust	NOUN
ftr-443	286	42	(	(	PUNCT
ftr-443	286	43	esbt	esbt	NOUN
ftr-443	286	44	)	)	PUNCT
ftr-443	286	45	.	.	PUNCT
ftr-443	287	1	given	give	VERB
ftr-443	287	2	the	the	DET
ftr-443	287	3	long	long	ADV
ftr-443	287	4	-	-	PUNCT
ftr-443	287	5	standing	stand	VERB
ftr-443	287	6	advantages	advantage	NOUN
ftr-443	287	7	for	for	ADP
ftr-443	287	8	entities	entity	NOUN
ftr-443	287	9	taxed	tax	VERB
ftr-443	287	10	as	as	ADP
ftr-443	287	11	partnerships	partnership	NOUN
ftr-443	287	12	and	and	CCONJ
ftr-443	287	13	the	the	DET
ftr-443	287	14	ctb	ctb	PROPN
ftr-443	287	15	regulations	regulation	NOUN
ftr-443	287	16	'	'	PART
ftr-443	287	17	scrapping	scrapping	NOUN
ftr-443	287	18	of	of	ADP
ftr-443	287	19	state	state	NOUN
ftr-443	287	20	law	law	NOUN
ftr-443	287	21	characteristics	characteristic	NOUN
ftr-443	287	22	as	as	ADP
ftr-443	287	23	determinative	determinative	ADJ
ftr-443	287	24	of	of	ADP
ftr-443	287	25	entity	entity	NOUN
ftr-443	287	26	tax	tax	NOUN
ftr-443	287	27	status	status	NOUN
ftr-443	287	28	,	,	PUNCT
ftr-443	287	29	the	the	DET
ftr-443	287	30	continued	continue	VERB
ftr-443	287	31	limits	limit	NOUN
ftr-443	287	32	on	on	ADP
ftr-443	287	33	s	s	PART
ftr-443	287	34	corporations	corporation	NOUN
ftr-443	287	35	are	be	AUX
ftr-443	287	36	hard	hard	ADJ
ftr-443	287	37	to	to	PART
ftr-443	287	38	justify	justify	VERB
ftr-443	287	39	.	.	PUNCT
ftr-443	288	1	an	an	DET
ftr-443	288	2	eligibility	eligibility	NOUN
ftr-443	288	3	question	question	NOUN
ftr-443	288	4	generated	generate	VERB
ftr-443	288	5	by	by	ADP
ftr-443	288	6	the	the	DET
ftr-443	288	7	ctb	ctb	NOUN
ftr-443	288	8	provisions	provision	NOUN
ftr-443	288	9	is	be	AUX
ftr-443	288	10	whether	whether	SCONJ
ftr-443	288	11	a	a	DET
ftr-443	288	12	single	single	ADJ
ftr-443	288	13	member	member	NOUN
ftr-443	288	14	llc	llc	PROPN
ftr-443	288	15	can	can	AUX
ftr-443	288	16	be	be	AUX
ftr-443	288	17	an	an	DET
ftr-443	288	18	s	s	NOUN
ftr-443	288	19	shareholder	shareholder	NOUN
ftr-443	288	20	.	.	PUNCT
ftr-443	289	1	since	since	SCONJ
ftr-443	289	2	its	its	PRON
ftr-443	289	3	tax	tax	NOUN
ftr-443	289	4	status	status	NOUN
ftr-443	289	5	is	be	AUX
ftr-443	289	6	that	that	PRON
ftr-443	289	7	of	of	ADP
ftr-443	289	8	a	a	DET
ftr-443	289	9	"	"	PUNCT
ftr-443	289	10	tax	tax	NOUN
ftr-443	289	11	nothing	nothing	PRON
ftr-443	289	12	,	,	PUNCT
ftr-443	289	13	"	"	PUNCT
ftr-443	289	14	stock	stock	NOUN
ftr-443	289	15	held	hold	VERB
ftr-443	289	16	by	by	ADP
ftr-443	289	17	such	such	DET
ftr-443	289	18	an	an	DET
ftr-443	289	19	llc	llc	NOUN
ftr-443	289	20	should	should	AUX
ftr-443	289	21	be	be	AUX
ftr-443	289	22	considered	consider	VERB
ftr-443	289	23	owned	own	VERB
ftr-443	289	24	by	by	ADP
ftr-443	289	25	the	the	DET
ftr-443	289	26	llc	llc	PROPN
ftr-443	289	27	's	's	PART
ftr-443	289	28	owner	owner	NOUN
ftr-443	289	29	,	,	PUNCT
ftr-443	289	30	much	much	ADJ
ftr-443	289	31	in	in	ADP
ftr-443	289	32	the	the	DET
ftr-443	289	33	same	same	ADJ
ftr-443	289	34	way	way	NOUN
ftr-443	289	35	as	as	SCONJ
ftr-443	289	36	a	a	DET
ftr-443	289	37	grantor	grantor	NOUN
ftr-443	289	38	trust	trust	NOUN
ftr-443	289	39	is	be	AUX
ftr-443	289	40	ignored	ignore	VERB
ftr-443	289	41	and	and	CCONJ
ftr-443	289	42	the	the	DET
ftr-443	289	43	beneficial	beneficial	ADJ
ftr-443	289	44	owner	owner	NOUN
ftr-443	289	45	is	be	AUX
ftr-443	289	46	treated	treat	VERB
ftr-443	289	47	as	as	ADP
ftr-443	289	48	shareholder	shareholder	NOUN
ftr-443	289	49	with	with	ADP
ftr-443	289	50	respect	respect	NOUN
ftr-443	289	51	to	to	ADP
ftr-443	289	52	stock	stock	NOUN
ftr-443	289	53	held	hold	VERB
ftr-443	289	54	by	by	ADP
ftr-443	289	55	a	a	DET
ftr-443	289	56	nominee	nominee	NOUN
ftr-443	289	57	.	.	PUNCT
ftr-443	289	58	"	"	PUNCT
ftr-443	290	1	the	the	DET
ftr-443	290	2	service	service	NOUN
ftr-443	290	3	has	have	AUX
ftr-443	290	4	also	also	ADV
ftr-443	290	5	ruled	rule	VERB
ftr-443	290	6	that	that	SCONJ
ftr-443	290	7	a	a	DET
ftr-443	290	8	corporation	corporation	NOUN
ftr-443	290	9	's	's	PART
ftr-443	290	10	s	s	NOUN
ftr-443	290	11	election	election	NOUN
ftr-443	290	12	did	do	AUX
ftr-443	290	13	not	not	PART
ftr-443	290	14	terminate	terminate	VERB
ftr-443	290	15	when	when	SCONJ
ftr-443	290	16	its	its	PRON
ftr-443	290	17	stock	stock	NOUN
ftr-443	290	18	was	be	AUX
ftr-443	290	19	held	hold	VERB
ftr-443	290	20	by	by	ADP
ftr-443	290	21	a	a	DET
ftr-443	290	22	nonresident	nonresident	ADJ
ftr-443	290	23	alien	alien	NOUN
ftr-443	290	24	as	as	ADP
ftr-443	290	25	custodian	custodian	NOUN
ftr-443	290	26	for	for	ADP
ftr-443	290	27	a	a	DET
ftr-443	290	28	27	27	NUM
ftr-443	290	29	.	.	PUNCT
ftr-443	291	1	see	see	VERB
ftr-443	291	2	rev	rev	PROPN
ftr-443	291	3	.	.	PROPN
ftr-443	291	4	rul	rul	PROPN
ftr-443	291	5	.	.	PUNCT
ftr-443	292	1	59	59	NUM
ftr-443	292	2	-	-	SYM
ftr-443	292	3	187	187	NUM
ftr-443	292	4	,	,	PUNCT
ftr-443	292	5	1959	1959	NUM
ftr-443	292	6	-	-	SYM
ftr-443	292	7	1	1	NUM
ftr-443	292	8	c.b	c.b	PROPN
ftr-443	292	9	.	.	PROPN
ftr-443	292	10	224	224	NUM
ftr-443	292	11	.	.	PUNCT
ftr-443	293	1	28	28	NUM
ftr-443	293	2	.	.	PUNCT
ftr-443	294	1	see	see	VERB
ftr-443	294	2	susan	susan	PROPN
ftr-443	294	3	c.	c.	PROPN
ftr-443	294	4	nelson	nelson	PROPN
ftr-443	294	5	,	,	PUNCT
ftr-443	294	6	s	s	PART
ftr-443	294	7	corporations	corporation	NOUN
ftr-443	294	8	:	:	PUNCT
ftr-443	294	9	the	the	DET
ftr-443	294	10	record	record	NOUN
ftr-443	294	11	of	of	ADP
ftr-443	294	12	growth	growth	NOUN
ftr-443	294	13	after	after	ADP
ftr-443	294	14	tax	tax	NOUN
ftr-443	294	15	reform	reform	NOUN
ftr-443	294	16	,	,	PUNCT
ftr-443	294	17	5	5	NUM
ftr-443	294	18	j.	j.	PROPN
ftr-443	294	19	s	s	PROPN
ftr-443	294	20	corp	corp	PROPN
ftr-443	294	21	.	.	PROPN
ftr-443	294	22	tax'n	tax'n	ADP
ftr-443	294	23	138	138	NUM
ftr-443	294	24	(	(	PUNCT
ftr-443	294	25	1993	1993	NUM
ftr-443	294	26	)	)	PUNCT
ftr-443	294	27	.	.	PUNCT
ftr-443	295	1	29	29	NUM
ftr-443	295	2	.	.	PUNCT
ftr-443	295	3	see	see	VERB
ftr-443	295	4	irc	irc	PROPN
ftr-443	295	5	§	§	PROPN
ftr-443	295	6	1446	1446	NUM
ftr-443	295	7	.	.	PUNCT
ftr-443	296	1	30	30	NUM
ftr-443	296	2	.	.	PUNCT
ftr-443	297	1	see	see	VERB
ftr-443	297	2	irc	irc	PROPN
ftr-443	297	3	§	§	PROPN
ftr-443	297	4	1361(b)(1)(b	1361(b)(1)(b	NUM
ftr-443	297	5	)	)	PUNCT
ftr-443	297	6	.	.	PUNCT
ftr-443	298	1	31	31	NUM
ftr-443	298	2	.	.	PUNCT
ftr-443	299	1	see	see	VERB
ftr-443	299	2	kates	kate	NOUN
ftr-443	299	3	v.	v.	PROPN
ftr-443	299	4	commissioner	commissioner	PROPN
ftr-443	299	5	,	,	PUNCT
ftr-443	299	6	27	27	NUM
ftr-443	299	7	t.c	t.c	PROPN
ftr-443	299	8	.	.	PROPN
ftr-443	299	9	memo	memo	NOUN
ftr-443	299	10	(	(	PUNCT
ftr-443	299	11	cch	cch	PROPN
ftr-443	299	12	)	)	PUNCT
ftr-443	299	13	1423	1423	NUM
ftr-443	299	14	,	,	PUNCT
ftr-443	299	15	t.c	t.c	PROPN
ftr-443	299	16	.	.	PROPN
ftr-443	299	17	memo	memo	NOUN
ftr-443	299	18	(	(	PUNCT
ftr-443	299	19	p	p	NOUN
ftr-443	299	20	-	-	PUNCT
ftr-443	299	21	h	h	NOUN
ftr-443	299	22	)	)	PUNCT
ftr-443	299	23	68,264	68,264	NUM
ftr-443	299	24	(	(	PUNCT
ftr-443	299	25	1968	1968	NUM
ftr-443	299	26	)	)	PUNCT
ftr-443	299	27	.	.	PUNCT
ftr-443	300	1	but	but	CCONJ
ftr-443	300	2	see	see	VERB
ftr-443	300	3	guzowski	guzowski	NOUN
ftr-443	300	4	v.	v.	ADP
ftr-443	300	5	commissioner	commissioner	NOUN
ftr-443	300	6	,	,	PUNCT
ftr-443	300	7	26	26	NUM
ftr-443	300	8	t.c	t.c	PROPN
ftr-443	300	9	.	.	PROPN
ftr-443	300	10	memo	memo	NOUN
ftr-443	300	11	(	(	PUNCT
ftr-443	300	12	cch	cch	PROPN
ftr-443	300	13	)	)	PUNCT
ftr-443	300	14	666	666	NUM
ftr-443	300	15	,	,	PUNCT
ftr-443	300	16	t.c	t.c	PROPN
ftr-443	300	17	.	.	PROPN
ftr-443	300	18	memo	memo	NOUN
ftr-443	300	19	(	(	PUNCT
ftr-443	300	20	p	p	NOUN
ftr-443	300	21	-	-	PUNCT
ftr-443	300	22	i-	i-	X
ftr-443	300	23	)	)	PUNCT
ftr-443	300	24	67,145	67,145	NUM
ftr-443	300	25	(	(	PUNCT
ftr-443	300	26	1967	1967	NUM
ftr-443	300	27	)	)	PUNCT
ftr-443	300	28	(	(	PUNCT
ftr-443	300	29	s	s	NOUN
ftr-443	300	30	stock	stock	NOUN
ftr-443	300	31	owned	own	VERB
ftr-443	300	32	by	by	ADP
ftr-443	300	33	partners	partner	NOUN
ftr-443	300	34	,	,	PUNCT
ftr-443	300	35	not	not	PART
ftr-443	300	36	partnership	partnership	NOUN
ftr-443	300	37	,	,	PUNCT
ftr-443	300	38	because	because	SCONJ
ftr-443	300	39	partnership	partnership	NOUN
ftr-443	300	40	found	find	VERB
ftr-443	300	41	to	to	PART
ftr-443	300	42	have	have	AUX
ftr-443	300	43	dissolved	dissolve	VERB
ftr-443	300	44	)	)	PUNCT
ftr-443	300	45	.	.	PUNCT
ftr-443	301	1	32	32	NUM
ftr-443	301	2	.	.	PUNCT
ftr-443	302	1	see	see	VERB
ftr-443	302	2	pahl	pahl	PROPN
ftr-443	302	3	v.	v.	ADP
ftr-443	302	4	commissioner	commissioner	NOUN
ftr-443	302	5	,	,	PUNCT
ftr-443	302	6	82	82	NUM
ftr-443	302	7	a.f.t.r	a.f.t.r	PROPN
ftr-443	302	8	.	.	PUNCT
ftr-443	303	1	2d	2d	NOUN
ftr-443	303	2	98	98	NUM
ftr-443	303	3	-	-	SYM
ftr-443	303	4	5418	5418	NUM
ftr-443	303	5	(	(	PUNCT
ftr-443	303	6	9th	9th	ADJ
ftr-443	303	7	cir	cir	NOUN
ftr-443	303	8	.	.	PUNCT
ftr-443	303	9	1998	1998	NUM
ftr-443	303	10	)	)	PUNCT
ftr-443	303	11	;	;	PUNCT
ftr-443	304	1	ozier	ozier	X
ftr-443	304	2	v.	v.	PRON
ftr-443	304	3	commissioner	commissioner	NOUN
ftr-443	304	4	,	,	PUNCT
ftr-443	305	1	36	36	NUM
ftr-443	305	2	t.c	t.c	PROPN
ftr-443	305	3	.	.	PROPN
ftr-443	305	4	memo	memo	NOUN
ftr-443	305	5	(	(	PUNCT
ftr-443	305	6	cch	cch	PROPN
ftr-443	305	7	)	)	PUNCT
ftr-443	305	8	236	236	NUM
ftr-443	305	9	,	,	PUNCT
ftr-443	305	10	t.c	t.c	PROPN
ftr-443	305	11	.	.	PROPN
ftr-443	305	12	memo	memo	NOUN
ftr-443	305	13	(	(	PUNCT
ftr-443	305	14	p	p	NOUN
ftr-443	305	15	-	-	PUNCT
ftr-443	305	16	h	h	NOUN
ftr-443	305	17	)	)	PUNCT
ftr-443	305	18	77,053	77,053	NUM
ftr-443	305	19	(	(	PUNCT
ftr-443	305	20	1977	1977	NUM
ftr-443	305	21	)	)	PUNCT
ftr-443	305	22	,	,	PUNCT
ftr-443	305	23	aff	aff	PROPN
ftr-443	305	24	d	d	PROPN
ftr-443	305	25	,	,	PUNCT
ftr-443	305	26	600	600	NUM
ftr-443	305	27	f.2d	f.2d	SYM
ftr-443	305	28	594	594	NUM
ftr-443	305	29	(	(	PUNCT
ftr-443	305	30	6th	6th	ADJ
ftr-443	305	31	cir	cir	NOUN
ftr-443	305	32	.	.	PUNCT
ftr-443	305	33	1979	1979	NUM
ftr-443	305	34	)	)	PUNCT
ftr-443	305	35	.	.	PUNCT
ftr-443	306	1	see	see	VERB
ftr-443	306	2	also	also	ADV
ftr-443	306	3	priv	priv	VERB
ftr-443	306	4	.	.	PUNCT
ftr-443	307	1	lr	lr	PROPN
ftr-443	307	2	.	.	PROPN
ftr-443	307	3	rul	rul	PROPN
ftr-443	307	4	.	.	PUNCT
ftr-443	308	1	90	90	NUM
ftr-443	308	2	-	-	SYM
ftr-443	308	3	10	10	NUM
ftr-443	308	4	-	-	NUM
ftr-443	308	5	042	042	NUM
ftr-443	308	6	(	(	PUNCT
ftr-443	308	7	dec	dec	PROPN
ftr-443	308	8	.	.	PROPN
ftr-443	308	9	11	11	NUM
ftr-443	308	10	,	,	PUNCT
ftr-443	308	11	1989	1989	NUM
ftr-443	308	12	)	)	PUNCT
ftr-443	308	13	;	;	PUNCT
ftr-443	308	14	priv	priv	NOUN
ftr-443	308	15	.	.	PUNCT
ftr-443	309	1	ltr	ltr	PROPN
ftr-443	309	2	.	.	PUNCT
ftr-443	310	1	rul	rul	PROPN
ftr-443	310	2	.	.	PUNCT
ftr-443	310	3	89	89	NUM
ftr-443	310	4	-	-	SYM
ftr-443	310	5	34020	34020	NUM
ftr-443	310	6	(	(	PUNCT
ftr-443	310	7	may	may	PROPN
ftr-443	310	8	24	24	NUM
ftr-443	310	9	,	,	PUNCT
ftr-443	310	10	1989	1989	NUM
ftr-443	310	11	)	)	PUNCT
ftr-443	310	12	(	(	PUNCT
ftr-443	310	13	momentary	momentary	ADJ
ftr-443	310	14	ownership	ownership	NOUN
ftr-443	310	15	of	of	ADP
ftr-443	310	16	s	s	NOUN
ftr-443	310	17	stock	stock	NOUN
ftr-443	310	18	by	by	ADP
ftr-443	310	19	partnership	partnership	NOUN
ftr-443	310	20	ignored	ignore	VERB
ftr-443	310	21	)	)	PUNCT
ftr-443	310	22	.	.	PUNCT
ftr-443	311	1	1999	1999	NUM
ftr-443	311	2	]	]	PUNCT
ftr-443	311	3	florida	florida	PROPN
ftr-443	311	4	tax	tax	PROPN
ftr-443	311	5	review	review	PROPN
ftr-443	311	6	u.s	u.s	PROPN
ftr-443	311	7	.	.	PROPN
ftr-443	311	8	citizen	citizen	PROPN
ftr-443	311	9	under	under	ADP
ftr-443	311	10	a	a	DET
ftr-443	311	11	uniform	uniform	ADJ
ftr-443	311	12	gift	gift	NOUN
ftr-443	311	13	to	to	ADP
ftr-443	311	14	minor	minor	PROPN
ftr-443	311	15	's	's	PART
ftr-443	311	16	act.3	act.3	ADJ
ftr-443	311	17	thus	thus	ADV
ftr-443	311	18	,	,	PUNCT
ftr-443	311	19	if	if	SCONJ
ftr-443	311	20	the	the	DET
ftr-443	311	21	owner	owner	NOUN
ftr-443	311	22	of	of	ADP
ftr-443	311	23	the	the	DET
ftr-443	311	24	llc	llc	PROPN
ftr-443	311	25	"	"	PUNCT
ftr-443	311	26	tax	tax	NOUN
ftr-443	311	27	nothing	nothing	PRON
ftr-443	311	28	"	"	PUNCT
ftr-443	311	29	is	be	AUX
ftr-443	311	30	an	an	DET
ftr-443	311	31	eligible	eligible	ADJ
ftr-443	311	32	shareholder	shareholder	NOUN
ftr-443	311	33	,	,	PUNCT
ftr-443	311	34	stock	stock	NOUN
ftr-443	311	35	owned	own	VERB
ftr-443	311	36	by	by	ADP
ftr-443	311	37	the	the	DET
ftr-443	311	38	llc	llc	PROPN
ftr-443	311	39	should	should	AUX
ftr-443	311	40	be	be	AUX
ftr-443	311	41	considered	consider	VERB
ftr-443	311	42	held	hold	VERB
ftr-443	311	43	by	by	ADP
ftr-443	311	44	an	an	DET
ftr-443	311	45	eligible	eligible	ADJ
ftr-443	311	46	shareholder	shareholder	NOUN
ftr-443	311	47	,	,	PUNCT
ftr-443	311	48	notwithstanding	notwithstanding	ADP
ftr-443	311	49	the	the	DET
ftr-443	311	50	llc	llc	NOUN
ftr-443	311	51	's	's	PART
ftr-443	311	52	separate	separate	ADJ
ftr-443	311	53	identity	identity	NOUN
ftr-443	311	54	under	under	ADP
ftr-443	311	55	state	state	NOUN
ftr-443	311	56	law	law	NOUN
ftr-443	311	57	.	.	PUNCT
ftr-443	311	58	'	'	PUNCT
ftr-443	312	1	3	3	NUM
ftr-443	312	2	.	.	PUNCT
ftr-443	312	3	limitations	limitation	NOUN
ftr-443	312	4	on	on	ADP
ftr-443	312	5	use	use	NOUN
ftr-443	312	6	of	of	ADP
ftr-443	312	7	debt	debt	NOUN
ftr-443	312	8	and	and	CCONJ
ftr-443	312	9	equity.-the	equity.-the	DET
ftr-443	312	10	most	most	ADV
ftr-443	312	11	serious	serious	ADJ
ftr-443	312	12	disadvantage	disadvantage	NOUN
ftr-443	312	13	faced	face	VERB
ftr-443	312	14	by	by	ADP
ftr-443	312	15	s	s	PART
ftr-443	312	16	corporations	corporation	NOUN
ftr-443	312	17	and	and	CCONJ
ftr-443	312	18	their	their	PRON
ftr-443	312	19	shareholders	shareholder	NOUN
ftr-443	312	20	,	,	PUNCT
ftr-443	312	21	relative	relative	ADJ
ftr-443	312	22	to	to	ADP
ftr-443	312	23	unincorporated	unincorporated	ADJ
ftr-443	312	24	businesses	business	NOUN
ftr-443	312	25	taxed	tax	VERB
ftr-443	312	26	under	under	ADP
ftr-443	312	27	subchapter	subchapter	NOUN
ftr-443	312	28	k	k	PROPN
ftr-443	312	29	,	,	PUNCT
ftr-443	312	30	is	be	AUX
ftr-443	312	31	a	a	DET
ftr-443	312	32	rule	rule	NOUN
ftr-443	312	33	precluding	preclude	VERB
ftr-443	312	34	an	an	DET
ftr-443	312	35	s	s	NOUN
ftr-443	312	36	corporation	corporation	NOUN
ftr-443	312	37	from	from	ADP
ftr-443	312	38	having	have	VERB
ftr-443	312	39	more	more	ADJ
ftr-443	312	40	than	than	ADP
ftr-443	312	41	one	one	NUM
ftr-443	312	42	class	class	NOUN
ftr-443	312	43	of	of	ADP
ftr-443	312	44	stock	stock	NOUN
ftr-443	312	45	.	.	PUNCT
ftr-443	313	1	5	5	NUM
ftr-443	313	2	thus	thus	ADV
ftr-443	313	3	,	,	PUNCT
ftr-443	313	4	an	an	DET
ftr-443	313	5	s	s	NOUN
ftr-443	313	6	corporation	corporation	NOUN
ftr-443	313	7	can	can	AUX
ftr-443	313	8	not	not	PART
ftr-443	313	9	provide	provide	VERB
ftr-443	313	10	a	a	DET
ftr-443	313	11	liquidation	liquidation	NOUN
ftr-443	313	12	or	or	CCONJ
ftr-443	313	13	distribution	distribution	NOUN
ftr-443	313	14	preference	preference	NOUN
ftr-443	313	15	to	to	ADP
ftr-443	313	16	any	any	DET
ftr-443	313	17	shareholder	shareholder	NOUN
ftr-443	313	18	.	.	PUNCT
ftr-443	314	1	even	even	ADV
ftr-443	314	2	buy	buy	VERB
ftr-443	314	3	-	-	PUNCT
ftr-443	314	4	sell	sell	NOUN
ftr-443	314	5	agreements	agreement	NOUN
ftr-443	314	6	and	and	CCONJ
ftr-443	314	7	similar	similar	ADJ
ftr-443	314	8	arrangements	arrangement	NOUN
ftr-443	314	9	must	must	AUX
ftr-443	314	10	be	be	AUX
ftr-443	314	11	sanitized	sanitize	VERB
ftr-443	314	12	to	to	PART
ftr-443	314	13	avoid	avoid	VERB
ftr-443	314	14	a	a	DET
ftr-443	314	15	prohibited	prohibit	VERB
ftr-443	314	16	second	second	ADJ
ftr-443	314	17	class	class	NOUN
ftr-443	314	18	of	of	ADP
ftr-443	314	19	stock	stock	NOUN
ftr-443	314	20	.	.	PUNCT
ftr-443	315	1	a	a	DET
ftr-443	315	2	buy	buy	NOUN
ftr-443	315	3	-	-	PUNCT
ftr-443	315	4	sell	sell	NOUN
ftr-443	315	5	agreement	agreement	NOUN
ftr-443	315	6	,	,	PUNCT
ftr-443	315	7	agreement	agreement	NOUN
ftr-443	315	8	to	to	PART
ftr-443	315	9	restrict	restrict	VERB
ftr-443	315	10	the	the	DET
ftr-443	315	11	transferability	transferability	NOUN
ftr-443	315	12	of	of	ADP
ftr-443	315	13	stock	stock	NOUN
ftr-443	315	14	,	,	PUNCT
ftr-443	315	15	or	or	CCONJ
ftr-443	315	16	cross	cross	NOUN
ftr-443	315	17	purchase	purchase	NOUN
ftr-443	315	18	and	and	CCONJ
ftr-443	315	19	redemption	redemption	NOUN
ftr-443	315	20	agreement	agreement	NOUN
ftr-443	315	21	creates	create	VERB
ftr-443	315	22	a	a	DET
ftr-443	315	23	prohibited	prohibit	VERB
ftr-443	315	24	second	second	ADJ
ftr-443	315	25	class	class	NOUN
ftr-443	315	26	of	of	ADP
ftr-443	315	27	stock	stock	NOUN
ftr-443	315	28	if	if	SCONJ
ftr-443	315	29	a	a	DET
ftr-443	315	30	principal	principal	ADJ
ftr-443	315	31	purpose	purpose	NOUN
ftr-443	315	32	of	of	ADP
ftr-443	315	33	the	the	DET
ftr-443	315	34	agreement	agreement	NOUN
ftr-443	315	35	is	be	AUX
ftr-443	315	36	to	to	PART
ftr-443	315	37	circumvent	circumvent	VERB
ftr-443	315	38	the	the	DET
ftr-443	315	39	one	one	NUM
ftr-443	315	40	class	class	NOUN
ftr-443	315	41	requirement	requirement	NOUN
ftr-443	315	42	and	and	CCONJ
ftr-443	315	43	the	the	DET
ftr-443	315	44	agreement	agreement	NOUN
ftr-443	315	45	establishes	establish	VERB
ftr-443	315	46	a	a	DET
ftr-443	315	47	redemption	redemption	NOUN
ftr-443	315	48	or	or	CCONJ
ftr-443	315	49	purchase	purchase	NOUN
ftr-443	315	50	price	price	NOUN
ftr-443	315	51	that	that	PRON
ftr-443	315	52	,	,	PUNCT
ftr-443	315	53	at	at	ADP
ftr-443	315	54	the	the	DET
ftr-443	315	55	time	time	NOUN
ftr-443	315	56	the	the	DET
ftr-443	315	57	agreement	agreement	NOUN
ftr-443	315	58	is	be	AUX
ftr-443	315	59	made	make	VERB
ftr-443	315	60	,	,	PUNCT
ftr-443	315	61	is	be	AUX
ftr-443	315	62	significantly	significantly	ADV
ftr-443	315	63	below	below	ADP
ftr-443	315	64	or	or	CCONJ
ftr-443	315	65	in	in	ADP
ftr-443	315	66	excess	excess	NOUN
ftr-443	315	67	of	of	ADP
ftr-443	315	68	the	the	DET
ftr-443	315	69	stock	stock	NOUN
ftr-443	315	70	's	's	PART
ftr-443	315	71	fair	fair	ADJ
ftr-443	315	72	market	market	NOUN
ftr-443	315	73	value	value	NOUN
ftr-443	315	74	.	.	PUNCT
ftr-443	316	1	6	6	NUM
ftr-443	316	2	an	an	DET
ftr-443	316	3	s	s	NOUN
ftr-443	316	4	corporation	corporation	NOUN
ftr-443	316	5	can	can	AUX
ftr-443	316	6	only	only	ADV
ftr-443	316	7	issue	issue	VERB
ftr-443	316	8	or	or	CCONJ
ftr-443	316	9	enter	enter	VERB
ftr-443	316	10	into	into	ADP
ftr-443	316	11	the	the	DET
ftr-443	316	12	following	follow	VERB
ftr-443	316	13	types	type	NOUN
ftr-443	316	14	of	of	ADP
ftr-443	316	15	securities	security	NOUN
ftr-443	316	16	or	or	CCONJ
ftr-443	316	17	arrangements	arrangement	NOUN
ftr-443	316	18	without	without	ADP
ftr-443	316	19	placing	place	VERB
ftr-443	316	20	its	its	PRON
ftr-443	316	21	s	s	NOUN
ftr-443	316	22	status	status	NOUN
ftr-443	316	23	at	at	ADP
ftr-443	316	24	indeterminable	indeterminable	ADJ
ftr-443	316	25	risk	risk	NOUN
ftr-443	316	26	:	:	PUNCT
ftr-443	316	27	(	(	PUNCT
ftr-443	316	28	1	1	X
ftr-443	316	29	)	)	PUNCT
ftr-443	316	30	issue	issue	NOUN
ftr-443	316	31	"	"	PUNCT
ftr-443	316	32	straight	straight	ADJ
ftr-443	316	33	debt";37	debt";37	NOUN
ftr-443	316	34	(	(	PUNCT
ftr-443	316	35	2	2	NUM
ftr-443	316	36	)	)	PUNCT
ftr-443	316	37	issue	issue	NOUN
ftr-443	316	38	nonvoting	nonvoting	NOUN
ftr-443	316	39	(	(	PUNCT
ftr-443	316	40	in	in	ADP
ftr-443	316	41	addition	addition	NOUN
ftr-443	316	42	to	to	ADP
ftr-443	316	43	voting	voting	NOUN
ftr-443	316	44	)	)	PUNCT
ftr-443	316	45	common	common	ADJ
ftr-443	316	46	stock	stock	NOUN
ftr-443	316	47	;	;	PUNCT
ftr-443	316	48	"	"	PUNCT
ftr-443	316	49	(	(	PUNCT
ftr-443	316	50	3	3	X
ftr-443	316	51	)	)	PUNCT
ftr-443	316	52	enter	enter	VERB
ftr-443	316	53	into	into	ADP
ftr-443	316	54	equity	equity	NOUN
ftr-443	316	55	-	-	PUNCT
ftr-443	316	56	type	type	NOUN
ftr-443	316	57	arrangements	arrangement	NOUN
ftr-443	316	58	not	not	PART
ftr-443	316	59	resulting	result	VERB
ftr-443	316	60	in	in	ADP
ftr-443	316	61	the	the	DET
ftr-443	316	62	issuance	issuance	NOUN
ftr-443	316	63	of	of	ADP
ftr-443	316	64	stock	stock	NOUN
ftr-443	316	65	,	,	PUNCT
ftr-443	316	66	including	include	VERB
ftr-443	316	67	options	option	NOUN
ftr-443	316	68	(	(	PUNCT
ftr-443	316	69	other	other	ADJ
ftr-443	316	70	than	than	ADP
ftr-443	316	71	"	"	PUNCT
ftr-443	316	72	in	in	ADP
ftr-443	316	73	the	the	DET
ftr-443	316	74	money	money	NOUN
ftr-443	316	75	"	"	PUNCT
ftr-443	316	76	options	option	NOUN
ftr-443	316	77	)	)	PUNCT
ftr-443	316	78	,	,	PUNCT
ftr-443	316	79	phantom	phantom	ADJ
ftr-443	316	80	stock	stock	NOUN
ftr-443	316	81	,	,	PUNCT
ftr-443	316	82	and	and	CCONJ
ftr-443	316	83	stock	stock	NOUN
ftr-443	316	84	appreciation	appreciation	NOUN
ftr-443	316	85	rights	right	NOUN
ftr-443	316	86	;	;	PUNCT
ftr-443	316	87	39	39	NUM
ftr-443	316	88	or	or	CCONJ
ftr-443	316	89	(	(	PUNCT
ftr-443	316	90	4	4	X
ftr-443	316	91	)	)	PUNCT
ftr-443	316	92	enter	enter	VERB
ftr-443	316	93	into	into	ADP
ftr-443	316	94	a	a	DET
ftr-443	316	95	joint	joint	ADJ
ftr-443	316	96	venture	venture	NOUN
ftr-443	316	97	or	or	CCONJ
ftr-443	316	98	other	other	ADJ
ftr-443	316	99	business	business	NOUN
ftr-443	316	100	arrangement	arrangement	NOUN
ftr-443	316	101	with	with	ADP
ftr-443	316	102	persons	person	NOUN
ftr-443	316	103	otherwise	otherwise	ADV
ftr-443	316	104	desirous	desirous	ADJ
ftr-443	316	105	of	of	ADP
ftr-443	316	106	owing	owe	VERB
ftr-443	316	107	stock	stock	NOUN
ftr-443	316	108	in	in	ADP
ftr-443	316	109	the	the	DET
ftr-443	316	110	s	s	PART
ftr-443	316	111	corporation	corporation	NOUN
ftr-443	316	112	directly	directly	ADV
ftr-443	316	113	.	.	PUNCT
ftr-443	317	1	33	33	NUM
ftr-443	317	2	.	.	PUNCT
ftr-443	318	1	see	see	AUX
ftr-443	318	2	rev	rev	PROPN
ftr-443	318	3	.	.	PROPN
ftr-443	318	4	rul	rul	NOUN
ftr-443	318	5	.	.	PUNCT
ftr-443	319	1	71	71	NUM
ftr-443	319	2	-	-	SYM
ftr-443	319	3	287	287	NUM
ftr-443	319	4	,	,	PUNCT
ftr-443	319	5	1971	1971	NUM
ftr-443	319	6	-	-	SYM
ftr-443	319	7	2	2	NUM
ftr-443	319	8	c.b	c.b	PROPN
ftr-443	319	9	.	.	PROPN
ftr-443	319	10	317	317	NUM
ftr-443	319	11	.	.	PUNCT
ftr-443	319	12	34	34	NUM
ftr-443	319	13	.	.	PUNCT
ftr-443	320	1	see	see	VERB
ftr-443	320	2	regs	reg	NOUN
ftr-443	320	3	.	.	PUNCT
ftr-443	321	1	§	§	PROPN
ftr-443	321	2	1.1362	1.1362	NUM
ftr-443	321	3	-	-	PUNCT
ftr-443	321	4	6(b)(3)(i	6(b)(3)(i	NUM
ftr-443	321	5	)	)	PUNCT
ftr-443	321	6	;	;	PUNCT
ftr-443	321	7	hook	hook	NOUN
ftr-443	321	8	v.	v.	ADP
ftr-443	321	9	commissioner	commissioner	NOUN
ftr-443	321	10	,	,	PUNCT
ftr-443	321	11	58	58	NUM
ftr-443	321	12	t.c	t.c	PROPN
ftr-443	321	13	.	.	PROPN
ftr-443	322	1	267	267	NUM
ftr-443	322	2	(	(	PUNCT
ftr-443	322	3	1972	1972	NUM
ftr-443	322	4	)	)	PUNCT
ftr-443	322	5	;	;	PUNCT
ftr-443	322	6	kean	kean	PROPN
ftr-443	322	7	v.	v.	PROPN
ftr-443	322	8	commissioner	commissioner	PROPN
ftr-443	322	9	,	,	PUNCT
ftr-443	322	10	51	51	NUM
ftr-443	322	11	t.c	t.c	PROPN
ftr-443	322	12	.	.	PROPN
ftr-443	323	1	337	337	NUM
ftr-443	323	2	(	(	PUNCT
ftr-443	323	3	1968	1968	NUM
ftr-443	323	4	)	)	PUNCT
ftr-443	323	5	,	,	PUNCT
ftr-443	323	6	aff'd	aff'd	VERB
ftr-443	323	7	469	469	NUM
ftr-443	323	8	f.2d	f.2d	NOUN
ftr-443	323	9	1183	1183	NUM
ftr-443	323	10	(	(	PUNCT
ftr-443	323	11	9th	9th	ADJ
ftr-443	323	12	cir	cir	NOUN
ftr-443	323	13	.	.	PROPN
ftr-443	323	14	1972	1972	NUM
ftr-443	323	15	)	)	PUNCT
ftr-443	323	16	.	.	PUNCT
ftr-443	324	1	35	35	NUM
ftr-443	324	2	.	.	PUNCT
ftr-443	325	1	see	see	VERB
ftr-443	325	2	irc	irc	PROPN
ftr-443	325	3	§	§	PROPN
ftr-443	325	4	1361(b)(1)(d	1361(b)(1)(d	NUM
ftr-443	325	5	)	)	PUNCT
ftr-443	325	6	;	;	PUNCT
ftr-443	325	7	regs	reg	NOUN
ftr-443	325	8	.	.	PUNCT
ftr-443	326	1	§	§	PROPN
ftr-443	326	2	1.1361	1.1361	NUM
ftr-443	326	3	-	-	PUNCT
ftr-443	326	4	1(1	1(1	NUM
ftr-443	326	5	)	)	PUNCT
ftr-443	326	6	.	.	PUNCT
ftr-443	327	1	36	36	NUM
ftr-443	327	2	.	.	PUNCT
ftr-443	328	1	see	see	VERB
ftr-443	328	2	regs	reg	NOUN
ftr-443	328	3	.	.	PUNCT
ftr-443	329	1	§	§	PROPN
ftr-443	329	2	1.1361	1.1361	NUM
ftr-443	329	3	-	-	SYM
ftr-443	329	4	1(l)(2)(iii	1(l)(2)(iii	NUM
ftr-443	329	5	)	)	PUNCT
ftr-443	329	6	.	.	PUNCT
ftr-443	330	1	generally	generally	ADV
ftr-443	330	2	,	,	PUNCT
ftr-443	330	3	agreements	agreement	NOUN
ftr-443	330	4	to	to	PART
ftr-443	330	5	redeem	redeem	VERB
ftr-443	330	6	or	or	CCONJ
ftr-443	330	7	purchase	purchase	VERB
ftr-443	330	8	stock	stock	NOUN
ftr-443	330	9	upon	upon	SCONJ
ftr-443	330	10	the	the	DET
ftr-443	330	11	death	death	NOUN
ftr-443	330	12	,	,	PUNCT
ftr-443	330	13	divorce	divorce	NOUN
ftr-443	330	14	,	,	PUNCT
ftr-443	330	15	disability	disability	NOUN
ftr-443	330	16	or	or	CCONJ
ftr-443	330	17	termination	termination	NOUN
ftr-443	330	18	of	of	ADP
ftr-443	330	19	employment	employment	NOUN
ftr-443	330	20	are	be	AUX
ftr-443	330	21	disregarded	disregard	VERB
ftr-443	330	22	under	under	ADP
ftr-443	330	23	the	the	DET
ftr-443	330	24	one	one	NUM
ftr-443	330	25	-	-	PUNCT
ftr-443	330	26	class	class	NOUN
ftr-443	330	27	-	-	PUNCT
ftr-443	330	28	of	of	ADP
ftr-443	330	29	-	-	PUNCT
ftr-443	330	30	stock	stock	NOUN
ftr-443	330	31	analysis	analysis	NOUN
ftr-443	330	32	.	.	PUNCT
ftr-443	331	1	see	see	VERB
ftr-443	331	2	regs	reg	NOUN
ftr-443	331	3	.	.	PUNCT
ftr-443	332	1	§	§	PROPN
ftr-443	332	2	1.1361	1.1361	NUM
ftr-443	332	3	-	-	PUNCT
ftr-443	332	4	1(l)(2)(iii)(b	1(l)(2)(iii)(b	NUM
ftr-443	332	5	)	)	PUNCT
ftr-443	332	6	.	.	PUNCT
ftr-443	333	1	37	37	NUM
ftr-443	333	2	.	.	PUNCT
ftr-443	334	1	straight	straight	ADJ
ftr-443	334	2	debt	debt	NOUN
ftr-443	334	3	is	be	AUX
ftr-443	334	4	a	a	DET
ftr-443	334	5	written	written	ADJ
ftr-443	334	6	and	and	CCONJ
ftr-443	334	7	unconditional	unconditional	ADJ
ftr-443	334	8	obligation	obligation	NOUN
ftr-443	334	9	to	to	PART
ftr-443	334	10	pay	pay	VERB
ftr-443	334	11	a	a	DET
ftr-443	334	12	sum	sum	NOUN
ftr-443	334	13	certain	certain	ADJ
ftr-443	334	14	in	in	ADP
ftr-443	334	15	money	money	NOUN
ftr-443	334	16	with	with	ADP
ftr-443	334	17	interest	interest	NOUN
ftr-443	334	18	rate	rate	NOUN
ftr-443	334	19	and	and	CCONJ
ftr-443	334	20	payment	payment	NOUN
ftr-443	334	21	dates	date	NOUN
ftr-443	334	22	not	not	PART
ftr-443	334	23	contingent	contingent	ADJ
ftr-443	334	24	on	on	ADP
ftr-443	334	25	the	the	DET
ftr-443	334	26	borrower	borrower	NOUN
ftr-443	334	27	's	's	PART
ftr-443	334	28	profits	profit	NOUN
ftr-443	334	29	,	,	PUNCT
ftr-443	334	30	discretion	discretion	NOUN
ftr-443	334	31	,	,	PUNCT
ftr-443	334	32	or	or	CCONJ
ftr-443	334	33	other	other	ADJ
ftr-443	334	34	factors	factor	NOUN
ftr-443	334	35	and	and	CCONJ
ftr-443	334	36	with	with	ADP
ftr-443	334	37	no	no	DET
ftr-443	334	38	right	right	NOUN
ftr-443	334	39	to	to	PART
ftr-443	334	40	convert	convert	VERB
ftr-443	334	41	,	,	PUNCT
ftr-443	334	42	directly	directly	ADV
ftr-443	334	43	or	or	CCONJ
ftr-443	334	44	indirectly	indirectly	ADV
ftr-443	334	45	,	,	PUNCT
ftr-443	334	46	into	into	ADP
ftr-443	334	47	stock	stock	NOUN
ftr-443	334	48	.	.	PUNCT
ftr-443	335	1	see	see	VERB
ftr-443	335	2	irc	irc	PROPN
ftr-443	335	3	§	§	PROPN
ftr-443	335	4	1361(c)(5	1361(c)(5	NUM
ftr-443	335	5	)	)	PUNCT
ftr-443	335	6	.	.	PUNCT
ftr-443	336	1	the	the	DET
ftr-443	336	2	holder	holder	NOUN
ftr-443	336	3	of	of	ADP
ftr-443	336	4	the	the	DET
ftr-443	336	5	debt	debt	NOUN
ftr-443	336	6	must	must	AUX
ftr-443	336	7	be	be	AUX
ftr-443	336	8	an	an	DET
ftr-443	336	9	eligible	eligible	ADJ
ftr-443	336	10	shareholder	shareholder	NOUN
ftr-443	336	11	except	except	SCONJ
ftr-443	336	12	that	that	SCONJ
ftr-443	336	13	after	after	ADP
ftr-443	336	14	1996	1996	NUM
ftr-443	336	15	,	,	PUNCT
ftr-443	336	16	a	a	DET
ftr-443	336	17	entity	entity	NOUN
ftr-443	336	18	or	or	CCONJ
ftr-443	336	19	person	person	NOUN
ftr-443	336	20	actively	actively	ADV
ftr-443	336	21	and	and	CCONJ
ftr-443	336	22	regularly	regularly	ADV
ftr-443	336	23	engaged	engage	VERB
ftr-443	336	24	in	in	ADP
ftr-443	336	25	the	the	DET
ftr-443	336	26	business	business	NOUN
ftr-443	336	27	of	of	ADP
ftr-443	336	28	lending	lend	VERB
ftr-443	336	29	money	money	NOUN
ftr-443	336	30	may	may	AUX
ftr-443	336	31	hold	hold	VERB
ftr-443	336	32	straight	straight	ADJ
ftr-443	336	33	debt	debt	NOUN
ftr-443	336	34	under	under	ADP
ftr-443	336	35	the	the	DET
ftr-443	336	36	safe	safe	ADJ
ftr-443	336	37	harbor	harbor	NOUN
ftr-443	336	38	.	.	PUNCT
ftr-443	337	1	see	see	VERB
ftr-443	337	2	irc	irc	PROPN
ftr-443	337	3	§	§	PROPN
ftr-443	337	4	1361(c)(5)(b)(iii	1361(c)(5)(b)(iii	PROPN
ftr-443	337	5	)	)	PUNCT
ftr-443	337	6	.	.	PUNCT
ftr-443	338	1	38	38	NUM
ftr-443	338	2	.	.	PUNCT
ftr-443	339	1	see	see	VERB
ftr-443	339	2	irc	irc	PROPN
ftr-443	339	3	§	§	PROPN
ftr-443	339	4	1361(c)(4	1361(c)(4	NUM
ftr-443	339	5	)	)	PUNCT
ftr-443	339	6	.	.	PUNCT
ftr-443	340	1	39	39	NUM
ftr-443	340	2	.	.	PUNCT
ftr-443	341	1	see	see	VERB
ftr-443	341	2	regs	reg	NOUN
ftr-443	341	3	.	.	PUNCT
ftr-443	342	1	§	§	PROPN
ftr-443	342	2	1.1361	1.1361	NUM
ftr-443	342	3	-	-	SYM
ftr-443	342	4	1(b)(4	1(b)(4	NUM
ftr-443	342	5	)	)	PUNCT
ftr-443	342	6	(	(	PUNCT
ftr-443	342	7	permissible	permissible	ADJ
ftr-443	342	8	incentive	incentive	NOUN
ftr-443	342	9	compensation	compensation	NOUN
ftr-443	342	10	arrangements	arrangement	NOUN
ftr-443	342	11	)	)	PUNCT
ftr-443	342	12	;	;	PUNCT
ftr-443	342	13	priv	priv	NOUN
ftr-443	342	14	.	.	PUNCT
ftr-443	343	1	ltr	ltr	PROPN
ftr-443	343	2	.	.	PUNCT
ftr-443	344	1	rul	rul	PROPN
ftr-443	344	2	.	.	PUNCT
ftr-443	345	1	94	94	NUM
ftr-443	345	2	-	-	SYM
ftr-443	345	3	06	06	NUM
ftr-443	345	4	-	-	SYM
ftr-443	345	5	017	017	NUM
ftr-443	345	6	(	(	PUNCT
ftr-443	345	7	nov	nov	PROPN
ftr-443	345	8	.	.	PROPN
ftr-443	345	9	15	15	NUM
ftr-443	345	10	,	,	PUNCT
ftr-443	345	11	1993	1993	NUM
ftr-443	345	12	)	)	PUNCT
ftr-443	345	13	(	(	PUNCT
ftr-443	345	14	stock	stock	NOUN
ftr-443	345	15	appreciation	appreciation	NOUN
ftr-443	345	16	rights	right	NOUN
ftr-443	345	17	did	do	AUX
ftr-443	345	18	not	not	PART
ftr-443	345	19	violate	violate	VERB
ftr-443	345	20	the	the	DET
ftr-443	345	21	oneclass	oneclass	NOUN
ftr-443	345	22	-	-	PUNCT
ftr-443	345	23	of	of	ADP
ftr-443	345	24	-	-	PUNCT
ftr-443	345	25	stock	stock	NOUN
ftr-443	345	26	requirement	requirement	NOUN
ftr-443	345	27	)	)	PUNCT
ftr-443	345	28	;	;	PUNCT
ftr-443	346	1	priv	priv	NOUN
ftr-443	346	2	.	.	PUNCT
ftr-443	347	1	ltr	ltr	PROPN
ftr-443	347	2	.	.	PUNCT
ftr-443	348	1	rul	rul	PROPN
ftr-443	348	2	.	.	PUNCT
ftr-443	349	1	90	90	NUM
ftr-443	349	2	-	-	SYM
ftr-443	349	3	40	40	NUM
ftr-443	349	4	-	-	PUNCT
ftr-443	349	5	035	035	NUM
ftr-443	349	6	(	(	PUNCT
ftr-443	349	7	july	july	PROPN
ftr-443	349	8	6	6	NUM
ftr-443	349	9	,	,	PUNCT
ftr-443	349	10	1990	1990	NUM
ftr-443	349	11	)	)	PUNCT
ftr-443	349	12	(	(	PUNCT
ftr-443	349	13	phantom	phantom	ADJ
ftr-443	349	14	stock	stock	NOUN
ftr-443	349	15	plan	plan	NOUN
ftr-443	349	16	did	do	AUX
ftr-443	349	17	not	not	PART
ftr-443	349	18	result	result	VERB
ftr-443	349	19	in	in	ADP
ftr-443	349	20	second	second	ADJ
ftr-443	349	21	class	class	NOUN
ftr-443	349	22	of	of	ADP
ftr-443	349	23	stock	stock	NOUN
ftr-443	349	24	)	)	PUNCT
ftr-443	349	25	.	.	PUNCT
ftr-443	350	1	as	as	SCONJ
ftr-443	350	2	to	to	PART
ftr-443	350	3	restricted	restrict	VERB
ftr-443	350	4	stock	stock	NOUN
ftr-443	350	5	under	under	ADP
ftr-443	350	6	§	§	PROPN
ftr-443	350	7	83	83	NUM
ftr-443	350	8	,	,	PUNCT
ftr-443	350	9	see	see	VERB
ftr-443	350	10	regs	reg	NOUN
ftr-443	350	11	.	.	PUNCT
ftr-443	351	1	§	§	PROPN
ftr-443	351	2	1.13611(b)(3	1.13611(b)(3	NUM
ftr-443	351	3	)	)	PUNCT
ftr-443	351	4	.	.	PUNCT
ftr-443	352	1	[	[	X
ftr-443	352	2	col	col	NOUN
ftr-443	352	3	4:3	4:3	NUM
ftr-443	352	4	benefits	benefit	NOUN
ftr-443	352	5	and	and	CCONJ
ftr-443	352	6	burdens	burden	NOUN
ftr-443	352	7	of	of	ADP
ftr-443	352	8	subchapter	subchapter	NOUN
ftr-443	352	9	s	s	NOUN
ftr-443	352	10	use	use	NOUN
ftr-443	352	11	of	of	ADP
ftr-443	352	12	a	a	DET
ftr-443	352	13	tax	tax	NOUN
ftr-443	352	14	partnership	partnership	NOUN
ftr-443	352	15	,	,	PUNCT
ftr-443	352	16	which	which	PRON
ftr-443	352	17	may	may	AUX
ftr-443	352	18	now	now	ADV
ftr-443	352	19	have	have	VERB
ftr-443	352	20	all	all	DET
ftr-443	352	21	four	four	NUM
ftr-443	352	22	of	of	ADP
ftr-443	352	23	the	the	DET
ftr-443	352	24	corporate	corporate	ADJ
ftr-443	352	25	characteristics	characteristic	NOUN
ftr-443	352	26	identified	identify	VERB
ftr-443	352	27	in	in	ADP
ftr-443	352	28	the	the	DET
ftr-443	352	29	former	former	ADJ
ftr-443	352	30	regulations	regulation	NOUN
ftr-443	352	31	,	,	PUNCT
ftr-443	352	32	facilitates	facilitate	VERB
ftr-443	352	33	the	the	DET
ftr-443	352	34	issuance	issuance	NOUN
ftr-443	352	35	of	of	ADP
ftr-443	352	36	various	various	ADJ
ftr-443	352	37	types	type	NOUN
ftr-443	352	38	of	of	ADP
ftr-443	352	39	equity	equity	NOUN
ftr-443	352	40	interests	interest	NOUN
ftr-443	352	41	,	,	PUNCT
ftr-443	352	42	accommodating	accommodate	VERB
ftr-443	352	43	the	the	DET
ftr-443	352	44	interests	interest	NOUN
ftr-443	352	45	of	of	ADP
ftr-443	352	46	the	the	DET
ftr-443	352	47	parties	party	NOUN
ftr-443	352	48	without	without	ADP
ftr-443	352	49	sacrificing	sacrifice	VERB
ftr-443	352	50	passthrough	passthrough	PROPN
ftr-443	352	51	status.o	status.o	PROPN
ftr-443	352	52	llcs	llcs	NOUN
ftr-443	352	53	and	and	CCONJ
ftr-443	352	54	partnerships	partnership	NOUN
ftr-443	352	55	may	may	AUX
ftr-443	352	56	,	,	PUNCT
ftr-443	352	57	without	without	ADP
ftr-443	352	58	jeopardizing	jeopardize	VERB
ftr-443	352	59	their	their	PRON
ftr-443	352	60	tax	tax	NOUN
ftr-443	352	61	status	status	NOUN
ftr-443	352	62	as	as	ADP
ftr-443	352	63	passthrough	passthrough	NOUN
ftr-443	352	64	entities	entity	NOUN
ftr-443	352	65	,	,	PUNCT
ftr-443	352	66	issue	issue	VERB
ftr-443	352	67	multiple	multiple	ADJ
ftr-443	352	68	classes	class	NOUN
ftr-443	352	69	of	of	ADP
ftr-443	352	70	equity	equity	NOUN
ftr-443	352	71	interests	interest	NOUN
ftr-443	352	72	,	,	PUNCT
ftr-443	352	73	create	create	VERB
ftr-443	352	74	distribution	distribution	NOUN
ftr-443	352	75	and	and	CCONJ
ftr-443	352	76	liquidation	liquidation	NOUN
ftr-443	352	77	preferences	preference	NOUN
ftr-443	352	78	and	and	CCONJ
ftr-443	352	79	priorities	priority	NOUN
ftr-443	352	80	,	,	PUNCT
ftr-443	352	81	make	make	VERB
ftr-443	352	82	special	special	ADJ
ftr-443	352	83	allocations	allocation	NOUN
ftr-443	352	84	of	of	ADP
ftr-443	352	85	tax	tax	NOUN
ftr-443	352	86	items	item	NOUN
ftr-443	352	87	within	within	ADP
ftr-443	352	88	boundaries	boundary	NOUN
ftr-443	352	89	permitted	permit	VERB
ftr-443	352	90	by	by	ADP
ftr-443	352	91	section	section	NOUN
ftr-443	352	92	704	704	NUM
ftr-443	352	93	,	,	PUNCT
ftr-443	352	94	and	and	CCONJ
ftr-443	352	95	issue	issue	VERB
ftr-443	352	96	equity	equity	NOUN
ftr-443	352	97	-	-	PUNCT
ftr-443	352	98	flavored	flavor	VERB
ftr-443	352	99	debt	debt	NOUN
ftr-443	352	100	,	,	PUNCT
ftr-443	352	101	which	which	PRON
ftr-443	352	102	may	may	AUX
ftr-443	352	103	include	include	VERB
ftr-443	352	104	a	a	DET
ftr-443	352	105	debt	debt	NOUN
ftr-443	352	106	-	-	PUNCT
ftr-443	352	107	to	to	ADP
ftr-443	352	108	-	-	PUNCT
ftr-443	352	109	equity	equity	NOUN
ftr-443	352	110	conversion	conversion	NOUN
ftr-443	352	111	privilege	privilege	NOUN
ftr-443	352	112	.	.	PUNCT
ftr-443	353	1	4	4	X
ftr-443	353	2	.	.	X
ftr-443	353	3	use	use	NOUN
ftr-443	353	4	of	of	ADP
ftr-443	353	5	multi	multi	ADJ
ftr-443	353	6	-	-	ADJ
ftr-443	353	7	tiered	tiered	ADJ
ftr-443	353	8	structures	structure	NOUN
ftr-443	353	9	or	or	CCONJ
ftr-443	353	10	affiliates.-except	affiliates.-except	NOUN
ftr-443	353	11	as	as	SCONJ
ftr-443	353	12	barred	bar	VERB
ftr-443	353	13	by	by	ADP
ftr-443	353	14	state	state	NOUN
ftr-443	353	15	regulations	regulation	NOUN
ftr-443	353	16	of	of	ADP
ftr-443	353	17	various	various	ADJ
ftr-443	353	18	professions	profession	NOUN
ftr-443	353	19	,	,	PUNCT
ftr-443	353	20	a	a	DET
ftr-443	353	21	partnership	partnership	NOUN
ftr-443	353	22	,	,	PUNCT
ftr-443	353	23	llc	llc	PROPN
ftr-443	353	24	,	,	PUNCT
ftr-443	353	25	or	or	CCONJ
ftr-443	353	26	llp	llp	PROPN
ftr-443	353	27	can	can	AUX
ftr-443	353	28	itself	itself	PRON
ftr-443	353	29	be	be	AUX
ftr-443	353	30	a	a	DET
ftr-443	353	31	partner	partner	NOUN
ftr-443	353	32	or	or	CCONJ
ftr-443	353	33	member	member	NOUN
ftr-443	353	34	of	of	ADP
ftr-443	353	35	another	another	DET
ftr-443	353	36	partnership	partnership	NOUN
ftr-443	353	37	,	,	PUNCT
ftr-443	353	38	llc	llc	PROPN
ftr-443	353	39	,	,	PUNCT
ftr-443	353	40	or	or	CCONJ
ftr-443	353	41	llp	llp	PROPN
ftr-443	353	42	.	.	PUNCT
ftr-443	354	1	multi	multi	ADJ
ftr-443	354	2	-	-	ADJ
ftr-443	354	3	tiered	tiered	ADJ
ftr-443	354	4	structures	structure	NOUN
ftr-443	354	5	of	of	ADP
ftr-443	354	6	unincorporated	unincorporated	ADJ
ftr-443	354	7	passthrough	passthrough	NOUN
ftr-443	354	8	entities	entity	NOUN
ftr-443	354	9	are	be	AUX
ftr-443	354	10	quite	quite	ADV
ftr-443	354	11	common	common	ADJ
ftr-443	354	12	and	and	CCONJ
ftr-443	354	13	facilitate	facilitate	ADJ
ftr-443	354	14	combinations	combination	NOUN
ftr-443	354	15	of	of	ADP
ftr-443	354	16	business	business	NOUN
ftr-443	354	17	and	and	CCONJ
ftr-443	354	18	investment	investment	NOUN
ftr-443	354	19	pools	pool	NOUN
ftr-443	354	20	and	and	CCONJ
ftr-443	354	21	assets	asset	NOUN
ftr-443	354	22	.	.	PUNCT
ftr-443	355	1	even	even	ADV
ftr-443	355	2	within	within	ADP
ftr-443	355	3	a	a	DET
ftr-443	355	4	single	single	ADJ
ftr-443	355	5	set	set	NOUN
ftr-443	355	6	or	or	CCONJ
ftr-443	355	7	group	group	NOUN
ftr-443	355	8	of	of	ADP
ftr-443	355	9	owners	owner	NOUN
ftr-443	355	10	,	,	PUNCT
ftr-443	355	11	use	use	NOUN
ftr-443	355	12	of	of	ADP
ftr-443	355	13	subsidiary	subsidiary	NOUN
ftr-443	355	14	llcs	llcs	NOUN
ftr-443	355	15	,	,	PUNCT
ftr-443	355	16	including	include	VERB
ftr-443	355	17	single	single	ADJ
ftr-443	355	18	member	member	NOUN
ftr-443	355	19	llcs	llcs	NOUN
ftr-443	355	20	,	,	PUNCT
ftr-443	355	21	may	may	AUX
ftr-443	355	22	achieve	achieve	VERB
ftr-443	355	23	a	a	DET
ftr-443	355	24	desired	desire	VERB
ftr-443	355	25	segregation	segregation	NOUN
ftr-443	355	26	of	of	ADP
ftr-443	355	27	business	business	NOUN
ftr-443	355	28	assets	asset	NOUN
ftr-443	355	29	and	and	CCONJ
ftr-443	355	30	creditors	creditor	NOUN
ftr-443	355	31	.	.	PUNCT
ftr-443	356	1	it	it	PRON
ftr-443	356	2	may	may	AUX
ftr-443	356	3	also	also	ADV
ftr-443	356	4	provide	provide	VERB
ftr-443	356	5	state	state	NOUN
ftr-443	356	6	tax	tax	NOUN
ftr-443	356	7	or	or	CCONJ
ftr-443	356	8	licensing	licensing	NOUN
ftr-443	356	9	benefits	benefit	NOUN
ftr-443	356	10	.	.	PUNCT
ftr-443	357	1	until	until	ADP
ftr-443	357	2	1996	1996	NUM
ftr-443	357	3	,	,	PUNCT
ftr-443	357	4	s	s	PART
ftr-443	357	5	corporations	corporation	NOUN
ftr-443	357	6	were	be	AUX
ftr-443	357	7	greatly	greatly	ADV
ftr-443	357	8	disadvantaged	disadvantaged	ADJ
ftr-443	357	9	in	in	ADP
ftr-443	357	10	this	this	DET
ftr-443	357	11	respect	respect	NOUN
ftr-443	357	12	because	because	SCONJ
ftr-443	357	13	former	former	ADJ
ftr-443	357	14	section	section	NOUN
ftr-443	357	15	1361(b)(2)(a	1361(b)(2)(a	NUM
ftr-443	357	16	)	)	PUNCT
ftr-443	357	17	prohibited	prohibit	VERB
ftr-443	357	18	an	an	DET
ftr-443	357	19	s	s	NOUN
ftr-443	357	20	corporation	corporation	NOUN
ftr-443	357	21	from	from	ADP
ftr-443	357	22	being	be	AUX
ftr-443	357	23	a	a	DET
ftr-443	357	24	member	member	NOUN
ftr-443	357	25	of	of	ADP
ftr-443	357	26	an	an	DET
ftr-443	357	27	"	"	PUNCT
ftr-443	357	28	affiliated	affiliated	ADJ
ftr-443	357	29	group	group	NOUN
ftr-443	357	30	,	,	PUNCT
ftr-443	357	31	"	"	PUNCT
ftr-443	357	32	which	which	PRON
ftr-443	357	33	,	,	PUNCT
ftr-443	357	34	under	under	ADP
ftr-443	357	35	section	section	NOUN
ftr-443	357	36	1504	1504	NUM
ftr-443	357	37	,	,	PUNCT
ftr-443	357	38	generally	generally	ADV
ftr-443	357	39	required	require	VERB
ftr-443	357	40	that	that	SCONJ
ftr-443	357	41	the	the	DET
ftr-443	357	42	corporation	corporation	NOUN
ftr-443	357	43	own	own	VERB
ftr-443	357	44	at	at	ADV
ftr-443	357	45	least	least	ADV
ftr-443	357	46	80	80	NUM
ftr-443	357	47	%	%	NOUN
ftr-443	357	48	,	,	PUNCT
ftr-443	357	49	by	by	ADP
ftr-443	357	50	vote	vote	NOUN
ftr-443	357	51	and	and	CCONJ
ftr-443	357	52	value	value	NOUN
ftr-443	357	53	,	,	PUNCT
ftr-443	357	54	of	of	ADP
ftr-443	357	55	the	the	DET
ftr-443	357	56	stock	stock	NOUN
ftr-443	357	57	of	of	ADP
ftr-443	357	58	another	another	DET
ftr-443	357	59	corporation.4	corporation.4	NOUN
ftr-443	357	60	this	this	DET
ftr-443	357	61	prohibition	prohibition	NOUN
ftr-443	357	62	could	could	AUX
ftr-443	357	63	be	be	AUX
ftr-443	357	64	avoided	avoid	VERB
ftr-443	357	65	by	by	ADP
ftr-443	357	66	intentionally	intentionally	ADV
ftr-443	357	67	flunking	flunk	VERB
ftr-443	357	68	one	one	NUM
ftr-443	357	69	of	of	ADP
ftr-443	357	70	the	the	DET
ftr-443	357	71	two	two	NUM
ftr-443	357	72	80	80	NUM
ftr-443	357	73	%	%	NOUN
ftr-443	357	74	tests	test	NOUN
ftr-443	357	75	in	in	ADP
ftr-443	357	76	testing	testing	NOUN
ftr-443	357	77	for	for	ADP
ftr-443	357	78	affiliation	affiliation	NOUN
ftr-443	357	79	.	.	PUNCT
ftr-443	358	1	since	since	SCONJ
ftr-443	358	2	no	no	DET
ftr-443	358	3	attribution	attribution	NOUN
ftr-443	358	4	rule	rule	NOUN
ftr-443	358	5	applies	apply	VERB
ftr-443	358	6	for	for	ADP
ftr-443	358	7	this	this	DET
ftr-443	358	8	purpose	purpose	NOUN
ftr-443	358	9	,	,	PUNCT
ftr-443	358	10	the	the	DET
ftr-443	358	11	s	s	PART
ftr-443	358	12	corporation	corporation	NOUN
ftr-443	358	13	's	's	PART
ftr-443	358	14	shareholders	shareholder	NOUN
ftr-443	358	15	could	could	AUX
ftr-443	358	16	hold	hold	VERB
ftr-443	358	17	the	the	DET
ftr-443	358	18	remaining	remain	VERB
ftr-443	358	19	stock	stock	NOUN
ftr-443	358	20	of	of	ADP
ftr-443	358	21	the	the	DET
ftr-443	358	22	subsidiary	subsidiary	NOUN
ftr-443	358	23	,	,	PUNCT
ftr-443	358	24	thereby	thereby	ADV
ftr-443	358	25	achieving	achieve	VERB
ftr-443	358	26	a	a	DET
ftr-443	358	27	de	de	X
ftr-443	358	28	facto	facto	X
ftr-443	358	29	affiliation	affiliation	NOUN
ftr-443	358	30	.	.	PUNCT
ftr-443	359	1	in	in	ADP
ftr-443	359	2	its	its	PRON
ftr-443	359	3	plain	plain	ADJ
ftr-443	359	4	vanilla	vanilla	NOUN
ftr-443	359	5	form	form	NOUN
ftr-443	359	6	,	,	PUNCT
ftr-443	359	7	issuance	issuance	NOUN
ftr-443	359	8	of	of	ADP
ftr-443	359	9	21	21	NUM
ftr-443	359	10	%	%	NOUN
ftr-443	359	11	of	of	ADP
ftr-443	359	12	the	the	DET
ftr-443	359	13	stock	stock	NOUN
ftr-443	359	14	of	of	ADP
ftr-443	359	15	an	an	DET
ftr-443	359	16	affiliate	affiliate	NOUN
ftr-443	359	17	to	to	ADP
ftr-443	359	18	one	one	NUM
ftr-443	359	19	or	or	CCONJ
ftr-443	359	20	more	more	ADJ
ftr-443	359	21	shareholders	shareholder	NOUN
ftr-443	359	22	of	of	ADP
ftr-443	359	23	the	the	DET
ftr-443	359	24	s	s	PROPN
ftr-443	359	25	corporation	corporation	NOUN
ftr-443	359	26	would	would	AUX
ftr-443	359	27	preserve	preserve	VERB
ftr-443	359	28	the	the	DET
ftr-443	359	29	parent	parent	NOUN
ftr-443	359	30	corporation	corporation	NOUN
ftr-443	359	31	's	's	PART
ftr-443	359	32	s	s	NOUN
ftr-443	359	33	status	status	NOUN
ftr-443	359	34	.	.	PUNCT
ftr-443	360	1	if	if	SCONJ
ftr-443	360	2	the	the	DET
ftr-443	360	3	cost	cost	NOUN
ftr-443	360	4	to	to	ADP
ftr-443	360	5	the	the	DET
ftr-443	360	6	shareholders	shareholder	NOUN
ftr-443	360	7	of	of	ADP
ftr-443	360	8	buying	buy	VERB
ftr-443	360	9	more	more	ADJ
ftr-443	360	10	than	than	ADP
ftr-443	360	11	20	20	NUM
ftr-443	360	12	%	%	NOUN
ftr-443	360	13	of	of	ADP
ftr-443	360	14	the	the	DET
ftr-443	360	15	subsidiary	subsidiary	NOUN
ftr-443	360	16	's	's	PART
ftr-443	360	17	stock	stock	NOUN
ftr-443	360	18	was	be	AUX
ftr-443	360	19	too	too	ADV
ftr-443	360	20	steep	steep	ADJ
ftr-443	360	21	,	,	PUNCT
ftr-443	360	22	much	much	ADJ
ftr-443	360	23	of	of	ADP
ftr-443	360	24	the	the	DET
ftr-443	360	25	s	s	PART
ftr-443	360	26	corporation	corporation	NOUN
ftr-443	360	27	's	's	PART
ftr-443	360	28	investment	investment	NOUN
ftr-443	360	29	could	could	AUX
ftr-443	360	30	be	be	AUX
ftr-443	360	31	represented	represent	VERB
ftr-443	360	32	by	by	ADP
ftr-443	360	33	nonvoting	nonvoting	ADJ
ftr-443	360	34	stock	stock	NOUN
ftr-443	360	35	,	,	PUNCT
ftr-443	360	36	and	and	CCONJ
ftr-443	360	37	the	the	DET
ftr-443	360	38	shareholders	shareholder	NOUN
ftr-443	360	39	could	could	AUX
ftr-443	360	40	acquire	acquire	VERB
ftr-443	360	41	,	,	PUNCT
ftr-443	360	42	at	at	ADP
ftr-443	360	43	a	a	DET
ftr-443	360	44	much	much	ADV
ftr-443	360	45	reduced	reduced	ADJ
ftr-443	360	46	cost	cost	NOUN
ftr-443	360	47	,	,	PUNCT
ftr-443	360	48	voting	vote	VERB
ftr-443	360	49	stock	stock	NOUN
ftr-443	360	50	sufficient	sufficient	ADJ
ftr-443	360	51	to	to	PART
ftr-443	360	52	flunk	flunk	VERB
ftr-443	360	53	the	the	DET
ftr-443	360	54	80	80	NUM
ftr-443	360	55	%	%	NOUN
ftr-443	360	56	test	test	NOUN
ftr-443	360	57	.	.	PUNCT
ftr-443	361	1	s	s	VERB
ftr-443	362	1	corporations	corporation	NOUN
ftr-443	362	2	were	be	AUX
ftr-443	362	3	permitted	permit	VERB
ftr-443	362	4	to	to	ADP
ftr-443	362	5	"	"	PUNCT
ftr-443	362	6	affiliate	affiliate	NOUN
ftr-443	362	7	"	"	PUNCT
ftr-443	362	8	with	with	ADP
ftr-443	362	9	another	another	DET
ftr-443	362	10	corporation	corporation	NOUN
ftr-443	362	11	in	in	ADP
ftr-443	362	12	order	order	NOUN
ftr-443	362	13	to	to	PART
ftr-443	362	14	engage	engage	VERB
ftr-443	362	15	in	in	ADP
ftr-443	362	16	a	a	DET
ftr-443	362	17	tax	tax	NOUN
ftr-443	362	18	-	-	PUNCT
ftr-443	362	19	free	free	ADJ
ftr-443	362	20	reorganization	reorganization	NOUN
ftr-443	362	21	or	or	CCONJ
ftr-443	362	22	division	division	NOUN
ftr-443	362	23	,	,	PUNCT
ftr-443	362	24	but	but	CCONJ
ftr-443	362	25	only	only	ADV
ftr-443	362	26	40	40	NUM
ftr-443	362	27	.	.	PUNCT
ftr-443	363	1	but	but	CCONJ
ftr-443	363	2	see	see	VERB
ftr-443	363	3	regs	reg	NOUN
ftr-443	363	4	.	.	PUNCT
ftr-443	364	1	§	§	PROPN
ftr-443	364	2	1.1361	1.1361	NUM
ftr-443	364	3	-	-	SYM
ftr-443	364	4	1(0	1(0	NUM
ftr-443	364	5	)	)	PUNCT
ftr-443	364	6	(	(	PUNCT
ftr-443	364	7	generally	generally	ADV
ftr-443	364	8	prohibiting	prohibit	VERB
ftr-443	364	9	a	a	DET
ftr-443	364	10	corporation	corporation	NOUN
ftr-443	364	11	with	with	ADP
ftr-443	364	12	more	more	ADJ
ftr-443	364	13	than	than	ADP
ftr-443	364	14	one	one	NUM
ftr-443	364	15	class	class	NOUN
ftr-443	364	16	of	of	ADP
ftr-443	364	17	stock	stock	NOUN
ftr-443	364	18	from	from	ADP
ftr-443	364	19	qualifying	qualify	VERB
ftr-443	364	20	as	as	ADP
ftr-443	364	21	an	an	DET
ftr-443	364	22	s	s	NOUN
ftr-443	364	23	corporation	corporation	NOUN
ftr-443	364	24	)	)	PUNCT
ftr-443	364	25	.	.	PUNCT
ftr-443	365	1	41	41	NUM
ftr-443	365	2	.	.	PUNCT
ftr-443	366	1	limited	limited	ADJ
ftr-443	366	2	statutory	statutory	ADJ
ftr-443	366	3	relief	relief	NOUN
ftr-443	366	4	was	be	AUX
ftr-443	366	5	provided	provide	VERB
ftr-443	366	6	for	for	ADP
ftr-443	366	7	an	an	DET
ftr-443	366	8	"	"	PUNCT
ftr-443	366	9	inactive	inactive	ADJ
ftr-443	366	10	"	"	PUNCT
ftr-443	366	11	subsidiary	subsidiary	NOUN
ftr-443	366	12	.	.	PUNCT
ftr-443	367	1	irc	irc	PROPN
ftr-443	367	2	§	§	PROPN
ftr-443	367	3	1361(c)(6	1361(c)(6	NUM
ftr-443	367	4	)	)	PUNCT
ftr-443	367	5	(	(	PUNCT
ftr-443	367	6	before	before	ADP
ftr-443	367	7	amendment	amendment	NOUN
ftr-443	367	8	in	in	ADP
ftr-443	367	9	1996	1996	NUM
ftr-443	367	10	)	)	PUNCT
ftr-443	367	11	.	.	PUNCT
ftr-443	368	1	before	before	ADP
ftr-443	368	2	1983	1983	NUM
ftr-443	368	3	,	,	PUNCT
ftr-443	368	4	an	an	DET
ftr-443	368	5	s	s	NOUN
ftr-443	368	6	corporation	corporation	NOUN
ftr-443	368	7	could	could	AUX
ftr-443	368	8	control	control	VERB
ftr-443	368	9	an	an	DET
ftr-443	368	10	"	"	PUNCT
ftr-443	368	11	excluded	exclude	VERB
ftr-443	368	12	"	"	PUNCT
ftr-443	368	13	corporation	corporation	NOUN
ftr-443	368	14	under	under	ADP
ftr-443	368	15	§	§	PROPN
ftr-443	368	16	1504(b	1504(b	NOUN
ftr-443	368	17	)	)	PUNCT
ftr-443	368	18	,	,	PUNCT
ftr-443	368	19	but	but	CCONJ
ftr-443	368	20	this	this	DET
ftr-443	368	21	exception	exception	NOUN
ftr-443	368	22	was	be	AUX
ftr-443	368	23	repealed	repeal	VERB
ftr-443	368	24	in	in	ADP
ftr-443	368	25	1982	1982	NUM
ftr-443	368	26	,	,	PUNCT
ftr-443	368	27	subject	subject	ADJ
ftr-443	368	28	to	to	ADP
ftr-443	368	29	grandfathering	grandfathere	VERB
ftr-443	368	30	relief	relief	NOUN
ftr-443	368	31	,	,	PUNCT
ftr-443	368	32	in	in	ADP
ftr-443	368	33	the	the	DET
ftr-443	368	34	subchapter	subchapter	NOUN
ftr-443	368	35	s	s	PART
ftr-443	368	36	revision	revision	NOUN
ftr-443	368	37	act	act	NOUN
ftr-443	368	38	of	of	ADP
ftr-443	368	39	1982	1982	NUM
ftr-443	368	40	,	,	PUNCT
ftr-443	368	41	pub	pub	NOUN
ftr-443	368	42	.	.	PUNCT
ftr-443	369	1	l	l	NOUN
ftr-443	370	1	no	no	INTJ
ftr-443	370	2	.	.	NOUN
ftr-443	371	1	97	97	NUM
ftr-443	371	2	-	-	SYM
ftr-443	371	3	354	354	NUM
ftr-443	371	4	,	,	PUNCT
ftr-443	371	5	§	§	PROPN
ftr-443	371	6	6(c)(1	6(c)(1	NUM
ftr-443	371	7	)	)	PUNCT
ftr-443	371	8	,	,	PUNCT
ftr-443	371	9	69	69	NUM
ftr-443	371	10	stat	stat	NOUN
ftr-443	371	11	.	.	PUNCT
ftr-443	372	1	1697	1697	NUM
ftr-443	372	2	(	(	PUNCT
ftr-443	372	3	codified	codify	VERB
ftr-443	372	4	at	at	ADP
ftr-443	372	5	irc	irc	PROPN
ftr-443	372	6	§	§	PROPN
ftr-443	372	7	1361(c)(1	1361(c)(1	NUM
ftr-443	372	8	)	)	PUNCT
ftr-443	372	9	(	(	PUNCT
ftr-443	372	10	1982	1982	NUM
ftr-443	372	11	)	)	PUNCT
ftr-443	372	12	)	)	PUNCT
ftr-443	373	1	,	,	PUNCT
ftr-443	373	2	reprinted	reprint	VERB
ftr-443	373	3	in	in	ADP
ftr-443	373	4	internal	internal	ADJ
ftr-443	373	5	revenue	revenue	NOUN
ftr-443	373	6	acts	act	NOUN
ftr-443	373	7	,	,	PUNCT
ftr-443	373	8	text	text	NOUN
ftr-443	373	9	and	and	CCONJ
ftr-443	373	10	legislative	legislative	ADJ
ftr-443	373	11	history	history	NOUN
ftr-443	373	12	,	,	PUNCT
ftr-443	373	13	at	at	ADP
ftr-443	373	14	273	273	NUM
ftr-443	373	15	,	,	PUNCT
ftr-443	373	16	301	301	NUM
ftr-443	373	17	(	(	PUNCT
ftr-443	373	18	1982	1982	NUM
ftr-443	373	19	)	)	PUNCT
ftr-443	373	20	.	.	PUNCT
ftr-443	374	1	1999	1999	NUM
ftr-443	374	2	]	]	PUNCT
ftr-443	374	3	florida	florida	PROPN
ftr-443	374	4	tax	tax	NOUN
ftr-443	374	5	review	review	NOUN
ftr-443	374	6	momentarily.42	momentarily.42	VERB
ftr-443	374	7	the	the	DET
ftr-443	374	8	service	service	NOUN
ftr-443	374	9	extended	extend	VERB
ftr-443	374	10	this	this	DET
ftr-443	374	11	exception	exception	NOUN
ftr-443	374	12	to	to	ADP
ftr-443	374	13	acquisitions	acquisition	NOUN
ftr-443	374	14	of	of	ADP
ftr-443	374	15	the	the	DET
ftr-443	374	16	stock	stock	NOUN
ftr-443	374	17	of	of	ADP
ftr-443	374	18	a	a	DET
ftr-443	374	19	target	target	NOUN
ftr-443	374	20	corporation	corporation	NOUN
ftr-443	374	21	followed	follow	VERB
ftr-443	374	22	by	by	ADP
ftr-443	374	23	a	a	DET
ftr-443	374	24	liquidation	liquidation	NOUN
ftr-443	374	25	within	within	ADP
ftr-443	374	26	30	30	NUM
ftr-443	374	27	days,43	days,43	ADJ
ftr-443	374	28	but	but	CCONJ
ftr-443	374	29	the	the	DET
ftr-443	374	30	tax	tax	NOUN
ftr-443	374	31	court	court	NOUN
ftr-443	374	32	cast	cast	VERB
ftr-443	374	33	doubt	doubt	NOUN
ftr-443	374	34	on	on	ADP
ftr-443	374	35	whether	whether	SCONJ
ftr-443	374	36	there	there	PRON
ftr-443	374	37	was	be	VERB
ftr-443	374	38	the	the	DET
ftr-443	374	39	necessary	necessary	ADJ
ftr-443	374	40	statutory	statutory	ADJ
ftr-443	374	41	foundation	foundation	NOUN
ftr-443	374	42	for	for	ADP
ftr-443	374	43	a	a	DET
ftr-443	374	44	30	30	NUM
ftr-443	374	45	-	-	PUNCT
ftr-443	374	46	day	day	NOUN
ftr-443	374	47	grace	grace	NOUN
ftr-443	374	48	period	period	NOUN
ftr-443	374	49	.	.	PUNCT
ftr-443	374	50	"	"	PUNCT
ftr-443	375	1	after	after	ADP
ftr-443	375	2	the	the	DET
ftr-443	375	3	1996	1996	NUM
ftr-443	375	4	repeal	repeal	NOUN
ftr-443	375	5	of	of	ADP
ftr-443	375	6	section	section	NOUN
ftr-443	375	7	1361(b)(2)(a	1361(b)(2)(a	NUM
ftr-443	375	8	)	)	PUNCT
ftr-443	375	9	,	,	PUNCT
ftr-443	375	10	an	an	DET
ftr-443	375	11	s	s	NOUN
ftr-443	375	12	corporation	corporation	NOUN
ftr-443	375	13	may	may	AUX
ftr-443	375	14	own	own	VERB
ftr-443	375	15	any	any	DET
ftr-443	375	16	percentage	percentage	NOUN
ftr-443	375	17	of	of	ADP
ftr-443	375	18	the	the	DET
ftr-443	375	19	stock	stock	NOUN
ftr-443	375	20	of	of	ADP
ftr-443	375	21	a	a	DET
ftr-443	375	22	c	c	NOUN
ftr-443	375	23	corporation	corporation	NOUN
ftr-443	375	24	.	.	PUNCT
ftr-443	376	1	a	a	DET
ftr-443	376	2	c	c	PROPN
ftr-443	376	3	subsidiary	subsidiary	NOUN
ftr-443	376	4	may	may	AUX
ftr-443	376	5	also	also	ADV
ftr-443	376	6	file	file	VERB
ftr-443	376	7	a	a	DET
ftr-443	376	8	consolidated	consolidated	ADJ
ftr-443	376	9	return	return	NOUN
ftr-443	376	10	with	with	ADP
ftr-443	376	11	its	its	PRON
ftr-443	376	12	c	c	PROPN
ftr-443	376	13	corporation	corporation	NOUN
ftr-443	376	14	affiliates	affiliate	NOUN
ftr-443	376	15	,	,	PUNCT
ftr-443	376	16	although	although	SCONJ
ftr-443	376	17	the	the	DET
ftr-443	376	18	s	s	PROPN
ftr-443	376	19	corporation	corporation	NOUN
ftr-443	376	20	parent	parent	NOUN
ftr-443	376	21	may	may	AUX
ftr-443	376	22	not	not	PART
ftr-443	376	23	join	join	VERB
ftr-443	376	24	in	in	ADP
ftr-443	376	25	this	this	DET
ftr-443	376	26	filing	filing	NOUN
ftr-443	376	27	.	.	PUNCT
ftr-443	377	1	dividends	dividend	NOUN
ftr-443	377	2	to	to	ADP
ftr-443	377	3	the	the	DET
ftr-443	377	4	parent	parent	NOUN
ftr-443	377	5	s	s	PART
ftr-443	377	6	corporation	corporation	NOUN
ftr-443	377	7	are	be	AUX
ftr-443	377	8	ineligible	ineligible	ADJ
ftr-443	377	9	for	for	ADP
ftr-443	377	10	a	a	DET
ftr-443	377	11	dividends	dividend	NOUN
ftr-443	377	12	received	receive	VERB
ftr-443	377	13	deduction	deduction	NOUN
ftr-443	377	14	,	,	PUNCT
ftr-443	377	15	and	and	CCONJ
ftr-443	377	16	other	other	ADJ
ftr-443	377	17	intercompany	intercompany	NOUN
ftr-443	377	18	transactions	transaction	NOUN
ftr-443	377	19	are	be	AUX
ftr-443	377	20	further	far	ADV
ftr-443	377	21	excluded	exclude	VERB
ftr-443	377	22	from	from	ADP
ftr-443	377	23	application	application	NOUN
ftr-443	377	24	of	of	ADP
ftr-443	377	25	the	the	DET
ftr-443	377	26	consolidated	consolidated	ADJ
ftr-443	377	27	return	return	NOUN
ftr-443	377	28	rules.45	rules.45	VERB
ftr-443	377	29	5	5	NUM
ftr-443	377	30	.	.	PUNCT
ftr-443	377	31	qualified	qualified	ADJ
ftr-443	377	32	subchapter	subchapter	NOUN
ftr-443	377	33	s	s	PART
ftr-443	377	34	subsidiaries	subsidiary	NOUN
ftr-443	377	35	(	(	PUNCT
ftr-443	377	36	qsubs).-a	qsubs).-a	NOUN
ftr-443	377	37	far	far	ADV
ftr-443	377	38	greater	great	ADJ
ftr-443	377	39	benefit	benefit	NOUN
ftr-443	377	40	introduced	introduce	VERB
ftr-443	377	41	in	in	ADP
ftr-443	377	42	1996	1996	NUM
ftr-443	377	43	is	be	AUX
ftr-443	377	44	that	that	SCONJ
ftr-443	377	45	an	an	DET
ftr-443	377	46	s	s	NOUN
ftr-443	377	47	corporation	corporation	NOUN
ftr-443	377	48	may	may	AUX
ftr-443	377	49	now	now	ADV
ftr-443	377	50	own	own	VERB
ftr-443	377	51	all	all	PRON
ftr-443	377	52	of	of	ADP
ftr-443	377	53	the	the	DET
ftr-443	377	54	outstanding	outstanding	ADJ
ftr-443	377	55	stock	stock	NOUN
ftr-443	377	56	of	of	ADP
ftr-443	377	57	a	a	DET
ftr-443	377	58	subsidiary	subsidiary	NOUN
ftr-443	377	59	and	and	CCONJ
ftr-443	377	60	achieve	achieve	VERB
ftr-443	377	61	passthrough	passthrough	NOUN
ftr-443	377	62	treatment	treatment	NOUN
ftr-443	377	63	at	at	ADP
ftr-443	377	64	the	the	DET
ftr-443	377	65	subsidiary	subsidiary	ADJ
ftr-443	377	66	level	level	NOUN
ftr-443	377	67	if	if	SCONJ
ftr-443	377	68	the	the	DET
ftr-443	377	69	parent	parent	NOUN
ftr-443	377	70	s	s	PART
ftr-443	377	71	corporation	corporation	NOUN
ftr-443	377	72	elects	elect	NOUN
ftr-443	377	73	to	to	PART
ftr-443	377	74	treat	treat	VERB
ftr-443	377	75	the	the	DET
ftr-443	377	76	subsidiary	subsidiary	NOUN
ftr-443	377	77	as	as	ADP
ftr-443	377	78	a	a	DET
ftr-443	377	79	division.46	division.46	NOUN
ftr-443	377	80	this	this	DET
ftr-443	377	81	rule	rule	NOUN
ftr-443	377	82	,	,	PUNCT
ftr-443	377	83	which	which	PRON
ftr-443	377	84	is	be	AUX
ftr-443	377	85	effective	effective	ADJ
ftr-443	377	86	for	for	ADP
ftr-443	377	87	taxable	taxable	ADJ
ftr-443	377	88	years	year	NOUN
ftr-443	377	89	beginning	begin	VERB
ftr-443	377	90	after	after	ADP
ftr-443	377	91	1996	1996	NUM
ftr-443	377	92	,	,	PUNCT
ftr-443	377	93	is	be	AUX
ftr-443	377	94	the	the	DET
ftr-443	377	95	most	most	ADV
ftr-443	377	96	important	important	ADJ
ftr-443	377	97	amendment	amendment	NOUN
ftr-443	377	98	to	to	PART
ftr-443	377	99	subchapter	subchapter	NOUN
ftr-443	377	100	s	s	PRON
ftr-443	377	101	contained	contain	VERB
ftr-443	377	102	in	in	ADP
ftr-443	377	103	that	that	DET
ftr-443	377	104	year	year	NOUN
ftr-443	377	105	's	's	PART
ftr-443	377	106	legislation	legislation	NOUN
ftr-443	377	107	.	.	PUNCT
ftr-443	378	1	a	a	DET
ftr-443	378	2	qualified	qualified	ADJ
ftr-443	378	3	subchapter	subchapter	NOUN
ftr-443	378	4	s	s	PART
ftr-443	378	5	subsidiary	subsidiary	NOUN
ftr-443	378	6	(	(	PUNCT
ftr-443	378	7	qsub	qsub	PROPN
ftr-443	378	8	)	)	PUNCT
ftr-443	378	9	is	be	AUX
ftr-443	378	10	a	a	DET
ftr-443	378	11	domestic	domestic	ADJ
ftr-443	378	12	corporation	corporation	NOUN
ftr-443	378	13	,	,	PUNCT
ftr-443	378	14	otherwise	otherwise	ADV
ftr-443	378	15	eligible	eligible	ADJ
ftr-443	378	16	to	to	PART
ftr-443	378	17	make	make	VERB
ftr-443	378	18	an	an	DET
ftr-443	378	19	s	s	NOUN
ftr-443	378	20	election	election	NOUN
ftr-443	378	21	,	,	PUNCT
ftr-443	378	22	(	(	PUNCT
ftr-443	378	23	1	1	X
ftr-443	378	24	)	)	PUNCT
ftr-443	378	25	all	all	PRON
ftr-443	378	26	of	of	ADP
ftr-443	378	27	the	the	DET
ftr-443	378	28	issued	issue	VERB
ftr-443	378	29	and	and	CCONJ
ftr-443	378	30	outstanding	outstanding	ADJ
ftr-443	378	31	stock	stock	NOUN
ftr-443	378	32	of	of	ADP
ftr-443	378	33	which	which	PRON
ftr-443	378	34	is	be	AUX
ftr-443	378	35	owned	own	VERB
ftr-443	378	36	by	by	ADP
ftr-443	378	37	an	an	DET
ftr-443	378	38	s	s	NOUN
ftr-443	378	39	corporation	corporation	NOUN
ftr-443	378	40	and	and	CCONJ
ftr-443	378	41	(	(	PUNCT
ftr-443	378	42	2	2	X
ftr-443	378	43	)	)	PUNCT
ftr-443	378	44	which	which	PRON
ftr-443	378	45	the	the	DET
ftr-443	378	46	s	s	NOUN
ftr-443	378	47	corporation	corporation	NOUN
ftr-443	378	48	elects	elect	NOUN
ftr-443	378	49	to	to	PART
ftr-443	378	50	treat	treat	VERB
ftr-443	378	51	as	as	ADP
ftr-443	378	52	a	a	DET
ftr-443	378	53	qsub.47	qsub.47	NOUN
ftr-443	378	54	in	in	ADP
ftr-443	378	55	temporary	temporary	ADJ
ftr-443	378	56	guidance	guidance	NOUN
ftr-443	378	57	,	,	PUNCT
ftr-443	378	58	the	the	DET
ftr-443	378	59	service	service	NOUN
ftr-443	378	60	announced	announce	VERB
ftr-443	378	61	that	that	SCONJ
ftr-443	378	62	qsub	qsub	VERB
ftr-443	378	63	elections	election	NOUN
ftr-443	378	64	,	,	PUNCT
ftr-443	378	65	which	which	PRON
ftr-443	378	66	must	must	AUX
ftr-443	378	67	be	be	AUX
ftr-443	378	68	made	make	VERB
ftr-443	378	69	subsidiary	subsidiary	NOUN
ftr-443	378	70	by	by	ADP
ftr-443	378	71	subsidiary	subsidiary	NOUN
ftr-443	378	72	,	,	PUNCT
ftr-443	378	73	are	be	AUX
ftr-443	378	74	to	to	PART
ftr-443	378	75	be	be	AUX
ftr-443	378	76	made	make	VERB
ftr-443	378	77	on	on	ADP
ftr-443	378	78	form	form	NOUN
ftr-443	378	79	966	966	NUM
ftr-443	378	80	with	with	ADP
ftr-443	378	81	special	special	ADJ
ftr-443	378	82	notation.4	notation.4	NOUN
ftr-443	378	83	'	'	PUNCT
ftr-443	378	84	the	the	DET
ftr-443	378	85	blue	blue	ADJ
ftr-443	378	86	book	book	NOUN
ftr-443	378	87	explanation	explanation	NOUN
ftr-443	378	88	allows	allow	VERB
ftr-443	378	89	for	for	ADP
ftr-443	378	90	tiers	tier	NOUN
ftr-443	378	91	of	of	ADP
ftr-443	378	92	qsubs	qsub	NOUN
ftr-443	378	93	.	.	PUNCT
ftr-443	379	1	49	49	NUM
ftr-443	380	1	once	once	ADV
ftr-443	380	2	a	a	DET
ftr-443	380	3	break	break	NOUN
ftr-443	380	4	in	in	ADP
ftr-443	380	5	the	the	DET
ftr-443	380	6	qsub	qsub	PROPN
ftr-443	380	7	42	42	NUM
ftr-443	380	8	.	.	PUNCT
ftr-443	381	1	see	see	VERB
ftr-443	381	2	rev	rev	PROPN
ftr-443	381	3	.	.	PROPN
ftr-443	381	4	rul	rul	PROPN
ftr-443	381	5	.	.	PUNCT
ftr-443	382	1	72	72	NUM
ftr-443	382	2	-	-	SYM
ftr-443	382	3	320	320	NUM
ftr-443	382	4	,	,	PUNCT
ftr-443	382	5	1972	1972	NUM
ftr-443	382	6	-	-	SYM
ftr-443	382	7	1	1	NUM
ftr-443	382	8	c.b	c.b	PROPN
ftr-443	382	9	.	.	PROPN
ftr-443	382	10	270	270	NUM
ftr-443	382	11	(	(	PUNCT
ftr-443	382	12	reorganization	reorganization	NOUN
ftr-443	382	13	momentary	momentary	ADJ
ftr-443	382	14	affiliation	affiliation	NOUN
ftr-443	382	15	disregarded	disregard	VERB
ftr-443	382	16	)	)	PUNCT
ftr-443	382	17	;	;	PUNCT
ftr-443	382	18	gen	gen	PROPN
ftr-443	382	19	.	.	PROPN
ftr-443	382	20	couns	couns	PROPN
ftr-443	382	21	.	.	PUNCT
ftr-443	383	1	mem	mem	PROPN
ftr-443	383	2	.	.	X
ftr-443	384	1	39,768	39,768	NUM
ftr-443	384	2	(	(	PUNCT
ftr-443	384	3	dec	dec	PROPN
ftr-443	384	4	.	.	PROPN
ftr-443	384	5	1	1	NUM
ftr-443	384	6	,	,	PUNCT
ftr-443	384	7	1988	1988	NUM
ftr-443	384	8	)	)	PUNCT
ftr-443	384	9	.	.	PUNCT
ftr-443	385	1	43	43	NUM
ftr-443	385	2	.	.	PUNCT
ftr-443	386	1	see	see	VERB
ftr-443	386	2	rev	rev	PROPN
ftr-443	386	3	.	.	PUNCT
ftr-443	386	4	rul	rul	NOUN
ftr-443	386	5	.	.	PUNCT
ftr-443	387	1	73	73	NUM
ftr-443	387	2	-	-	SYM
ftr-443	387	3	496	496	NUM
ftr-443	387	4	,	,	PUNCT
ftr-443	387	5	1973	1973	NUM
ftr-443	387	6	-	-	SYM
ftr-443	387	7	2	2	NUM
ftr-443	387	8	c.b	c.b	PROPN
ftr-443	387	9	.	.	PROPN
ftr-443	387	10	312	312	NUM
ftr-443	387	11	.	.	NUM
ftr-443	387	12	44	44	NUM
ftr-443	387	13	.	.	PUNCT
ftr-443	388	1	see	see	VERB
ftr-443	388	2	haley	haley	NOUN
ftr-443	388	3	brothers	brothers	PROPN
ftr-443	388	4	construction	construction	PROPN
ftr-443	388	5	corp	corp	PROPN
ftr-443	388	6	.	.	PROPN
ftr-443	389	1	v.	v.	PROPN
ftr-443	389	2	commissioner	commissioner	PROPN
ftr-443	389	3	,	,	PUNCT
ftr-443	389	4	87	87	NUM
ftr-443	389	5	t.c	t.c	PROPN
ftr-443	389	6	.	.	PROPN
ftr-443	389	7	498	498	NUM
ftr-443	389	8	(	(	PUNCT
ftr-443	389	9	1986	1986	NUM
ftr-443	389	10	)	)	PUNCT
ftr-443	390	1	;	;	PUNCT
ftr-443	390	2	see	see	VERB
ftr-443	390	3	also	also	ADV
ftr-443	390	4	jerald	jerald	PROPN
ftr-443	390	5	d.	d.	PROPN
ftr-443	390	6	august	august	PROPN
ftr-443	390	7	,	,	PUNCT
ftr-443	390	8	acquisitions	acquisition	NOUN
ftr-443	390	9	involving	involve	VERB
ftr-443	390	10	s	s	PART
ftr-443	390	11	corporations	corporation	NOUN
ftr-443	390	12	,	,	PUNCT
ftr-443	390	13	in	in	ADP
ftr-443	390	14	new	new	PROPN
ftr-443	390	15	york	york	PROPN
ftr-443	390	16	university	university	PROPN
ftr-443	390	17	-	-	PUNCT
ftr-443	390	18	proceedings	proceeding	NOUN
ftr-443	390	19	of	of	ADP
ftr-443	390	20	the	the	DET
ftr-443	390	21	fifty	fifty	NUM
ftr-443	390	22	-	-	PUNCT
ftr-443	390	23	second	second	NOUN
ftr-443	390	24	institute	institute	NOUN
ftr-443	390	25	on	on	ADP
ftr-443	390	26	federal	federal	ADJ
ftr-443	390	27	taxation	taxation	NOUN
ftr-443	390	28	§	§	PROPN
ftr-443	390	29	3	3	NUM
ftr-443	390	30	-	-	SYM
ftr-443	390	31	1	1	NUM
ftr-443	390	32	(	(	PUNCT
ftr-443	390	33	1994	1994	NUM
ftr-443	390	34	)	)	PUNCT
ftr-443	390	35	;	;	PUNCT
ftr-443	390	36	samuel	samuel	PROPN
ftr-443	390	37	p.	p.	PROPN
ftr-443	390	38	starr	starr	PROPN
ftr-443	390	39	,	,	PUNCT
ftr-443	390	40	s	s	PART
ftr-443	390	41	corporations	corporation	NOUN
ftr-443	390	42	:	:	PUNCT
ftr-443	391	1	operations	operation	NOUN
ftr-443	391	2	,	,	PUNCT
ftr-443	391	3	371	371	NUM
ftr-443	391	4	tax	tax	NOUN
ftr-443	391	5	mgmt	mgmt	NOUN
ftr-443	391	6	.	.	PUNCT
ftr-443	392	1	(	(	PUNCT
ftr-443	392	2	bna	bna	PROPN
ftr-443	392	3	)	)	PUNCT
ftr-443	392	4	105	105	NUM
ftr-443	392	5	-	-	SYM
ftr-443	392	6	127	127	NUM
ftr-443	392	7	.	.	PUNCT
ftr-443	393	1	45	45	NUM
ftr-443	393	2	.	.	PUNCT
ftr-443	394	1	the	the	DET
ftr-443	394	2	inapplicability	inapplicability	NOUN
ftr-443	394	3	of	of	ADP
ftr-443	394	4	the	the	DET
ftr-443	394	5	intercompany	intercompany	NOUN
ftr-443	394	6	(	(	PUNCT
ftr-443	394	7	deferred	deferred	ADJ
ftr-443	394	8	or	or	CCONJ
ftr-443	394	9	matching	matching	NOUN
ftr-443	394	10	)	)	PUNCT
ftr-443	394	11	transaction	transaction	NOUN
ftr-443	394	12	rules	rule	NOUN
ftr-443	394	13	requires	require	VERB
ftr-443	394	14	that	that	SCONJ
ftr-443	394	15	attention	attention	NOUN
ftr-443	394	16	be	be	AUX
ftr-443	394	17	given	give	VERB
ftr-443	394	18	to	to	ADP
ftr-443	394	19	intercompany	intercompany	NOUN
ftr-443	394	20	sales	sale	NOUN
ftr-443	394	21	or	or	CCONJ
ftr-443	394	22	transfers	transfer	NOUN
ftr-443	394	23	between	between	ADP
ftr-443	394	24	an	an	DET
ftr-443	394	25	s	s	NOUN
ftr-443	394	26	corporation	corporation	NOUN
ftr-443	394	27	and	and	CCONJ
ftr-443	394	28	a	a	DET
ftr-443	394	29	c	c	NOUN
ftr-443	394	30	corporation	corporation	NOUN
ftr-443	394	31	in	in	ADP
ftr-443	394	32	which	which	PRON
ftr-443	394	33	the	the	DET
ftr-443	394	34	s	s	NOUN
ftr-443	394	35	corporation	corporation	NOUN
ftr-443	394	36	owns	own	VERB
ftr-443	394	37	50	50	NUM
ftr-443	394	38	%	%	NOUN
ftr-443	394	39	or	or	CCONJ
ftr-443	394	40	more	more	ADJ
ftr-443	394	41	of	of	ADP
ftr-443	394	42	its	its	PRON
ftr-443	394	43	stock	stock	NOUN
ftr-443	394	44	.	.	PUNCT
ftr-443	395	1	see	see	VERB
ftr-443	395	2	irc	irc	PROPN
ftr-443	395	3	§	§	PROPN
ftr-443	395	4	§	§	PROPN
ftr-443	395	5	267(a)(1	267(a)(1	NUM
ftr-443	395	6	)	)	PUNCT
ftr-443	395	7	;	;	PUNCT
ftr-443	395	8	267(a)(2	267(a)(2	NUM
ftr-443	395	9	)	)	PUNCT
ftr-443	395	10	;	;	PUNCT
ftr-443	395	11	267(b)(3	267(b)(3	NUM
ftr-443	395	12	)	)	PUNCT
ftr-443	395	13	;	;	PUNCT
ftr-443	395	14	267(0	267(0	NUM
ftr-443	395	15	;	;	PUNCT
ftr-443	395	16	1239	1239	NUM
ftr-443	395	17	;	;	PUNCT
ftr-443	395	18	453(e	453(e	PROPN
ftr-443	395	19	)	)	PUNCT
ftr-443	395	20	.	.	PUNCT
ftr-443	396	1	46	46	NUM
ftr-443	396	2	.	.	PUNCT
ftr-443	397	1	see	see	VERB
ftr-443	397	2	irc	irc	PROPN
ftr-443	397	3	§	§	PROPN
ftr-443	397	4	1361(b)(3	1361(b)(3	NUM
ftr-443	397	5	)	)	PUNCT
ftr-443	397	6	.	.	PUNCT
ftr-443	398	1	47	47	NUM
ftr-443	398	2	.	.	PUNCT
ftr-443	399	1	see	see	VERB
ftr-443	399	2	irc	irc	PROPN
ftr-443	399	3	§	§	PROPN
ftr-443	399	4	1361(b)(3)(b	1361(b)(3)(b	NUM
ftr-443	399	5	)	)	PUNCT
ftr-443	399	6	.	.	PUNCT
ftr-443	400	1	a	a	DET
ftr-443	400	2	qsub	qsub	PROPN
ftr-443	400	3	may	may	AUX
ftr-443	400	4	not	not	PART
ftr-443	400	5	be	be	AUX
ftr-443	400	6	a	a	DET
ftr-443	400	7	financial	financial	ADJ
ftr-443	400	8	institution	institution	NOUN
ftr-443	400	9	described	describe	VERB
ftr-443	400	10	in	in	ADP
ftr-443	400	11	§	§	PROPN
ftr-443	400	12	585	585	NUM
ftr-443	400	13	,	,	PUNCT
ftr-443	400	14	insurance	insurance	NOUN
ftr-443	400	15	company	company	NOUN
ftr-443	400	16	subject	subject	ADJ
ftr-443	400	17	to	to	ADP
ftr-443	400	18	subchapter	subchapter	NOUN
ftr-443	400	19	l	l	NOUN
ftr-443	400	20	,	,	PUNCT
ftr-443	400	21	possessions	possession	NOUN
ftr-443	400	22	corporation	corporation	NOUN
ftr-443	400	23	,	,	PUNCT
ftr-443	400	24	disc	disc	NOUN
ftr-443	400	25	,	,	PUNCT
ftr-443	400	26	or	or	CCONJ
ftr-443	400	27	former	former	ADJ
ftr-443	400	28	disc	disc	NOUN
ftr-443	400	29	.	.	PUNCT
ftr-443	401	1	see	see	VERB
ftr-443	401	2	irc	irc	PROPN
ftr-443	401	3	§	§	PROPN
ftr-443	401	4	1361(b)(2	1361(b)(2	NUM
ftr-443	401	5	)	)	PUNCT
ftr-443	401	6	.	.	PUNCT
ftr-443	402	1	48	48	NUM
ftr-443	402	2	.	.	PUNCT
ftr-443	403	1	see	see	VERB
ftr-443	403	2	notice	notice	NOUN
ftr-443	403	3	97	97	NUM
ftr-443	403	4	-	-	SYM
ftr-443	403	5	4	4	NUM
ftr-443	403	6	,	,	PUNCT
ftr-443	403	7	1997	1997	NUM
ftr-443	403	8	-	-	SYM
ftr-443	403	9	1	1	NUM
ftr-443	403	10	c.b	c.b	PROPN
ftr-443	403	11	.	.	PROPN
ftr-443	403	12	351	351	NUM
ftr-443	403	13	.	.	PUNCT
ftr-443	403	14	49	49	NUM
ftr-443	403	15	.	.	PUNCT
ftr-443	404	1	staff	staff	NOUN
ftr-443	404	2	of	of	ADP
ftr-443	404	3	joint	joint	ADJ
ftr-443	404	4	comm	comm	NOUN
ftr-443	404	5	.	.	PUNCT
ftr-443	405	1	on	on	ADP
ftr-443	405	2	tax'n	tax'n	NOUN
ftr-443	405	3	,	,	PUNCT
ftr-443	405	4	104th	104th	ADJ
ftr-443	405	5	cong	cong	NOUN
ftr-443	405	6	.	.	PROPN
ftr-443	405	7	,	,	PUNCT
ftr-443	405	8	2d	2d	NUM
ftr-443	405	9	sess	sess	NOUN
ftr-443	405	10	.	.	PUNCT
ftr-443	406	1	,	,	PUNCT
ftr-443	406	2	general	general	ADJ
ftr-443	406	3	explanation	explanation	NOUN
ftr-443	406	4	of	of	ADP
ftr-443	406	5	tax	tax	NOUN
ftr-443	406	6	legislation	legislation	NOUN
ftr-443	406	7	enacted	enact	VERB
ftr-443	406	8	by	by	ADP
ftr-443	406	9	the	the	DET
ftr-443	406	10	104th	104th	ADJ
ftr-443	406	11	congress	congress	PROPN
ftr-443	406	12	120	120	NUM
ftr-443	406	13	nn.120	nn.120	ADV
ftr-443	406	14	-	-	SYM
ftr-443	406	15	21	21	NUM
ftr-443	406	16	(	(	PUNCT
ftr-443	406	17	comm	comm	NOUN
ftr-443	406	18	.	.	PUNCT
ftr-443	407	1	print	print	NOUN
ftr-443	407	2	1996	1996	NUM
ftr-443	407	3	)	)	PUNCT
ftr-443	407	4	.	.	PUNCT
ftr-443	408	1	[	[	X
ftr-443	408	2	vol	vol	NOUN
ftr-443	408	3	4:3	4:3	NUM
ftr-443	408	4	benefits	benefit	NOUN
ftr-443	408	5	and	and	CCONJ
ftr-443	408	6	burdens	burden	NOUN
ftr-443	408	7	of	of	ADP
ftr-443	408	8	subchapter	subchapter	NOUN
ftr-443	408	9	s	s	PART
ftr-443	408	10	chain	chain	NOUN
ftr-443	408	11	occurs	occur	VERB
ftr-443	408	12	by	by	ADP
ftr-443	408	13	the	the	DET
ftr-443	408	14	interposition	interposition	NOUN
ftr-443	408	15	of	of	ADP
ftr-443	408	16	a	a	DET
ftr-443	408	17	c	c	NOUN
ftr-443	408	18	corporation	corporation	NOUN
ftr-443	408	19	,	,	PUNCT
ftr-443	408	20	the	the	DET
ftr-443	408	21	qsub	qsub	PROPN
ftr-443	408	22	election	election	NOUN
ftr-443	408	23	may	may	AUX
ftr-443	408	24	not	not	PART
ftr-443	408	25	be	be	AUX
ftr-443	408	26	made	make	VERB
ftr-443	408	27	with	with	ADP
ftr-443	408	28	respect	respect	NOUN
ftr-443	408	29	to	to	ADP
ftr-443	408	30	any	any	DET
ftr-443	408	31	lower	low	ADJ
ftr-443	408	32	-	-	PUNCT
ftr-443	408	33	tier	tier	NOUN
ftr-443	408	34	subsidiary	subsidiary	NOUN
ftr-443	408	35	,	,	PUNCT
ftr-443	408	36	but	but	CCONJ
ftr-443	408	37	lower	low	ADJ
ftr-443	408	38	-	-	PUNCT
ftr-443	408	39	tier	tier	NOUN
ftr-443	408	40	corporations	corporation	NOUN
ftr-443	408	41	may	may	AUX
ftr-443	408	42	join	join	VERB
ftr-443	408	43	in	in	ADP
ftr-443	408	44	a	a	DET
ftr-443	408	45	consolidated	consolidated	ADJ
ftr-443	408	46	tax	tax	NOUN
ftr-443	408	47	return.-	return.-	PROPN
ftr-443	408	48	'	'	PUNCT
ftr-443	408	49	in	in	ADP
ftr-443	408	50	a	a	DET
ftr-443	408	51	manner	manner	NOUN
ftr-443	408	52	resembling	resemble	VERB
ftr-443	408	53	the	the	DET
ftr-443	408	54	effect	effect	NOUN
ftr-443	408	55	of	of	ADP
ftr-443	408	56	a	a	DET
ftr-443	408	57	single	single	ADJ
ftr-443	408	58	member	member	NOUN
ftr-443	408	59	llc	llc	PROPN
ftr-443	408	60	,	,	PUNCT
ftr-443	408	61	a	a	DET
ftr-443	408	62	qsub	qsub	NOUN
ftr-443	408	63	is	be	AUX
ftr-443	408	64	treated	treat	VERB
ftr-443	408	65	as	as	ADP
ftr-443	408	66	a	a	DET
ftr-443	408	67	division	division	NOUN
ftr-443	408	68	of	of	ADP
ftr-443	408	69	the	the	DET
ftr-443	408	70	s	s	PROPN
ftr-443	408	71	corporation	corporation	NOUN
ftr-443	408	72	,	,	PUNCT
ftr-443	408	73	and	and	CCONJ
ftr-443	408	74	its	its	PRON
ftr-443	408	75	separate	separate	ADJ
ftr-443	408	76	existence	existence	NOUN
ftr-443	408	77	is	be	AUX
ftr-443	408	78	ignored	ignore	VERB
ftr-443	408	79	during	during	ADP
ftr-443	408	80	the	the	DET
ftr-443	408	81	qsub	qsub	PROPN
ftr-443	408	82	period	period	NOUN
ftr-443	408	83	.	.	PUNCT
ftr-443	409	1	the	the	DET
ftr-443	409	2	qsub	qsub	PROPN
ftr-443	409	3	therefore	therefore	ADV
ftr-443	409	4	does	do	AUX
ftr-443	409	5	not	not	PART
ftr-443	409	6	maintain	maintain	VERB
ftr-443	409	7	a	a	DET
ftr-443	409	8	separate	separate	ADJ
ftr-443	409	9	accumulated	accumulate	VERB
ftr-443	409	10	adjustments	adjustment	NOUN
ftr-443	409	11	account	account	VERB
ftr-443	409	12	or	or	CCONJ
ftr-443	409	13	collect	collect	VERB
ftr-443	409	14	earnings	earning	NOUN
ftr-443	409	15	and	and	CCONJ
ftr-443	409	16	profits	profit	NOUN
ftr-443	409	17	.	.	PUNCT
ftr-443	410	1	instead	instead	ADV
ftr-443	410	2	,	,	PUNCT
ftr-443	410	3	the	the	DET
ftr-443	410	4	computation	computation	NOUN
ftr-443	410	5	of	of	ADP
ftr-443	410	6	taxable	taxable	ADJ
ftr-443	410	7	income	income	NOUN
ftr-443	410	8	or	or	CCONJ
ftr-443	410	9	loss	loss	NOUN
ftr-443	410	10	,	,	PUNCT
ftr-443	410	11	accumulated	accumulate	VERB
ftr-443	410	12	adjustments	adjustment	NOUN
ftr-443	410	13	account	account	NOUN
ftr-443	410	14	,	,	PUNCT
ftr-443	410	15	built	build	VERB
ftr-443	410	16	-	-	PUNCT
ftr-443	410	17	in	in	ADP
ftr-443	410	18	gains	gain	NOUN
ftr-443	410	19	subject	subject	ADJ
ftr-443	410	20	to	to	ADP
ftr-443	410	21	entity	entity	NOUN
ftr-443	410	22	level	level	NOUN
ftr-443	410	23	tax	tax	NOUN
ftr-443	410	24	,	,	PUNCT
ftr-443	410	25	passive	passive	ADJ
ftr-443	410	26	investment	investment	NOUN
ftr-443	410	27	income	income	NOUN
ftr-443	410	28	,	,	PUNCT
ftr-443	410	29	characterization	characterization	NOUN
ftr-443	410	30	of	of	ADP
ftr-443	410	31	distributions	distribution	NOUN
ftr-443	410	32	,	,	PUNCT
ftr-443	410	33	and	and	CCONJ
ftr-443	410	34	other	other	ADJ
ftr-443	410	35	tax	tax	NOUN
ftr-443	410	36	accounting	accounting	NOUN
ftr-443	410	37	is	be	AUX
ftr-443	410	38	determined	determine	VERB
ftr-443	410	39	on	on	ADP
ftr-443	410	40	an	an	DET
ftr-443	410	41	aggregate	aggregate	ADJ
ftr-443	410	42	basis	basis	NOUN
ftr-443	410	43	by	by	ADP
ftr-443	410	44	the	the	DET
ftr-443	410	45	parent	parent	NOUN
ftr-443	410	46	s	s	PART
ftr-443	410	47	corporation	corporation	NOUN
ftr-443	410	48	.	.	PUNCT
ftr-443	411	1	a.	a.	PROPN
ftr-443	411	2	deemed	deem	VERB
ftr-443	411	3	liquidation.-if	liquidation.-if	NOUN
ftr-443	411	4	the	the	DET
ftr-443	411	5	subsidiary	subsidiary	NOUN
ftr-443	411	6	existed	exist	VERB
ftr-443	411	7	before	before	ADP
ftr-443	411	8	the	the	DET
ftr-443	411	9	first	first	ADJ
ftr-443	411	10	year	year	NOUN
ftr-443	411	11	for	for	ADP
ftr-443	411	12	which	which	PRON
ftr-443	411	13	the	the	DET
ftr-443	411	14	qsub	qsub	PROPN
ftr-443	411	15	election	election	NOUN
ftr-443	411	16	is	be	AUX
ftr-443	411	17	made	make	VERB
ftr-443	411	18	,	,	PUNCT
ftr-443	411	19	the	the	DET
ftr-443	411	20	election	election	NOUN
ftr-443	411	21	is	be	AUX
ftr-443	411	22	treated	treat	VERB
ftr-443	411	23	as	as	ADP
ftr-443	411	24	a	a	DET
ftr-443	411	25	liquidation	liquidation	NOUN
ftr-443	411	26	of	of	ADP
ftr-443	411	27	a	a	DET
ftr-443	411	28	wholly	wholly	ADV
ftr-443	411	29	owned	own	VERB
ftr-443	411	30	subsidiary	subsidiary	NOUN
ftr-443	411	31	into	into	ADP
ftr-443	411	32	its	its	PRON
ftr-443	411	33	electing	elect	VERB
ftr-443	411	34	s	s	PART
ftr-443	411	35	corporation	corporation	NOUN
ftr-443	411	36	parent.5	parent.5	NOUN
ftr-443	411	37	generally	generally	ADV
ftr-443	411	38	,	,	PUNCT
ftr-443	411	39	under	under	ADP
ftr-443	411	40	sections	section	NOUN
ftr-443	411	41	337	337	NUM
ftr-443	411	42	and	and	CCONJ
ftr-443	411	43	332	332	NUM
ftr-443	411	44	,	,	PUNCT
ftr-443	411	45	no	no	DET
ftr-443	411	46	gain	gain	NOUN
ftr-443	411	47	or	or	CCONJ
ftr-443	411	48	loss	loss	NOUN
ftr-443	411	49	is	be	AUX
ftr-443	411	50	recognized	recognize	VERB
ftr-443	411	51	by	by	ADP
ftr-443	411	52	the	the	DET
ftr-443	411	53	liquidating	liquidating	NOUN
ftr-443	411	54	subsidiary	subsidiary	NOUN
ftr-443	411	55	or	or	CCONJ
ftr-443	411	56	the	the	DET
ftr-443	411	57	parent	parent	NOUN
ftr-443	411	58	.	.	PUNCT
ftr-443	412	1	under	under	ADP
ftr-443	412	2	sections	section	NOUN
ftr-443	412	3	381	381	NUM
ftr-443	412	4	and	and	CCONJ
ftr-443	412	5	334(b	334(b	NUM
ftr-443	412	6	)	)	PUNCT
ftr-443	412	7	,	,	PUNCT
ftr-443	412	8	the	the	DET
ftr-443	412	9	s	s	PROPN
ftr-443	412	10	corporation	corporation	NOUN
ftr-443	412	11	parent	parent	NOUN
ftr-443	412	12	inherits	inherit	VERB
ftr-443	412	13	the	the	DET
ftr-443	412	14	qsub	qsub	PROPN
ftr-443	412	15	's	's	PART
ftr-443	412	16	tax	tax	NOUN
ftr-443	412	17	attributes	attribute	NOUN
ftr-443	412	18	and	and	CCONJ
ftr-443	412	19	the	the	DET
ftr-443	412	20	adjusted	adjusted	ADJ
ftr-443	412	21	basis	basis	NOUN
ftr-443	412	22	of	of	ADP
ftr-443	412	23	its	its	PRON
ftr-443	412	24	assets	asset	NOUN
ftr-443	412	25	.	.	PUNCT
ftr-443	413	1	if	if	SCONJ
ftr-443	413	2	the	the	DET
ftr-443	413	3	subsidiary	subsidiary	NOUN
ftr-443	413	4	was	be	AUX
ftr-443	413	5	a	a	DET
ftr-443	413	6	c	c	NOUN
ftr-443	413	7	corporation	corporation	NOUN
ftr-443	413	8	,	,	PUNCT
ftr-443	413	9	the	the	DET
ftr-443	413	10	deemed	deem	VERB
ftr-443	413	11	liquidation	liquidation	NOUN
ftr-443	413	12	causes	cause	VERB
ftr-443	413	13	the	the	DET
ftr-443	413	14	parent	parent	NOUN
ftr-443	413	15	s	s	PART
ftr-443	413	16	corporation	corporation	NOUN
ftr-443	413	17	to	to	PART
ftr-443	413	18	become	become	VERB
ftr-443	413	19	subject	subject	ADJ
ftr-443	413	20	to	to	ADP
ftr-443	413	21	the	the	DET
ftr-443	413	22	built	build	VERB
ftr-443	413	23	-	-	PUNCT
ftr-443	413	24	in	in	ADP
ftr-443	413	25	gains	gain	NOUN
ftr-443	413	26	tax	tax	NOUN
ftr-443	413	27	under	under	ADP
ftr-443	413	28	section	section	NOUN
ftr-443	413	29	1374	1374	NUM
ftr-443	413	30	with	with	ADP
ftr-443	413	31	respect	respect	NOUN
ftr-443	413	32	to	to	ADP
ftr-443	413	33	the	the	DET
ftr-443	413	34	qsub	qsub	PROPN
ftr-443	413	35	's	's	PART
ftr-443	413	36	assets	asset	NOUN
ftr-443	413	37	.	.	PUNCT
ftr-443	414	1	if	if	SCONJ
ftr-443	414	2	,	,	PUNCT
ftr-443	414	3	as	as	ADP
ftr-443	414	4	a	a	DET
ftr-443	414	5	c	c	NOUN
ftr-443	414	6	corporation	corporation	NOUN
ftr-443	414	7	,	,	PUNCT
ftr-443	414	8	the	the	DET
ftr-443	414	9	qsub	qsub	PROPN
ftr-443	414	10	used	use	VERB
ftr-443	414	11	the	the	DET
ftr-443	414	12	lifo	lifo	NOUN
ftr-443	414	13	method	method	NOUN
ftr-443	414	14	of	of	ADP
ftr-443	414	15	inventory	inventory	NOUN
ftr-443	414	16	accounting	accounting	NOUN
ftr-443	414	17	,	,	PUNCT
ftr-443	414	18	the	the	DET
ftr-443	414	19	special	special	ADJ
ftr-443	414	20	four	four	NUM
ftr-443	414	21	-	-	PUNCT
ftr-443	414	22	year	year	NOUN
ftr-443	414	23	recapture	recapture	NOUN
ftr-443	414	24	rule	rule	NOUN
ftr-443	414	25	of	of	ADP
ftr-443	414	26	section	section	NOUN
ftr-443	414	27	1363(d	1363(d	NOUN
ftr-443	414	28	)	)	PUNCT
ftr-443	414	29	comes	come	VERB
ftr-443	414	30	into	into	ADP
ftr-443	414	31	play	play	NOUN
ftr-443	414	32	.	.	PUNCT
ftr-443	415	1	postqsub	postqsub	PROPN
ftr-443	415	2	election	election	NOUN
ftr-443	415	3	problems	problem	NOUN
ftr-443	415	4	may	may	AUX
ftr-443	415	5	also	also	ADV
ftr-443	415	6	arise	arise	VERB
ftr-443	415	7	from	from	ADP
ftr-443	415	8	inheriting	inherit	VERB
ftr-443	415	9	the	the	DET
ftr-443	415	10	c	c	NOUN
ftr-443	415	11	earnings	earning	NOUN
ftr-443	415	12	and	and	CCONJ
ftr-443	415	13	profits	profit	NOUN
ftr-443	415	14	,	,	PUNCT
ftr-443	415	15	which	which	PRON
ftr-443	415	16	may	may	AUX
ftr-443	415	17	affect	affect	VERB
ftr-443	415	18	the	the	DET
ftr-443	415	19	s	s	PROPN
ftr-443	415	20	corporation	corporation	NOUN
ftr-443	415	21	's	's	PART
ftr-443	415	22	post	post	ADJ
ftr-443	415	23	-	-	ADJ
ftr-443	415	24	qsub	qsub	ADJ
ftr-443	415	25	distributions	distribution	NOUN
ftr-443	415	26	to	to	ADP
ftr-443	415	27	its	its	PRON
ftr-443	415	28	shareholders.52	shareholders.52	NOUN
ftr-443	415	29	if	if	SCONJ
ftr-443	415	30	there	there	PRON
ftr-443	415	31	is	be	VERB
ftr-443	415	32	a	a	DET
ftr-443	415	33	significant	significant	ADJ
ftr-443	415	34	amount	amount	NOUN
ftr-443	415	35	of	of	ADP
ftr-443	415	36	passive	passive	ADJ
ftr-443	415	37	investment	investment	NOUN
ftr-443	415	38	income	income	NOUN
ftr-443	415	39	,	,	PUNCT
ftr-443	415	40	the	the	DET
ftr-443	415	41	carryover	carryover	NOUN
ftr-443	415	42	of	of	ADP
ftr-443	415	43	earnings	earning	NOUN
ftr-443	415	44	and	and	CCONJ
ftr-443	415	45	profits	profit	NOUN
ftr-443	415	46	may	may	AUX
ftr-443	415	47	also	also	ADV
ftr-443	415	48	result	result	VERB
ftr-443	415	49	in	in	ADP
ftr-443	415	50	an	an	DET
ftr-443	415	51	entity	entity	NOUN
ftr-443	415	52	level	level	NOUN
ftr-443	415	53	tax	tax	NOUN
ftr-443	415	54	under	under	ADP
ftr-443	415	55	section	section	NOUN
ftr-443	415	56	1375	1375	NUM
ftr-443	415	57	and	and	CCONJ
ftr-443	415	58	eventually	eventually	ADV
ftr-443	415	59	pose	pose	VERB
ftr-443	415	60	a	a	DET
ftr-443	415	61	termination	termination	NOUN
ftr-443	415	62	risk	risk	NOUN
ftr-443	415	63	under	under	ADP
ftr-443	415	64	section	section	NOUN
ftr-443	415	65	1362(d)(3	1362(d)(3	NUM
ftr-443	415	66	)	)	PUNCT
ftr-443	415	67	.	.	PUNCT
ftr-443	416	1	aside	aside	ADV
ftr-443	416	2	from	from	ADP
ftr-443	416	3	the	the	DET
ftr-443	416	4	tax	tax	NOUN
ftr-443	416	5	attribute	attribute	NOUN
ftr-443	416	6	issues	issue	NOUN
ftr-443	416	7	generated	generate	VERB
ftr-443	416	8	by	by	ADP
ftr-443	416	9	a	a	DET
ftr-443	416	10	deemed	deem	VERB
ftr-443	416	11	liquidation	liquidation	NOUN
ftr-443	416	12	,	,	PUNCT
ftr-443	416	13	the	the	DET
ftr-443	416	14	most	most	ADV
ftr-443	416	15	immediate	immediate	ADJ
ftr-443	416	16	drawback	drawback	NOUN
ftr-443	416	17	to	to	ADP
ftr-443	416	18	the	the	DET
ftr-443	416	19	qsub	qsub	PROPN
ftr-443	416	20	election	election	NOUN
ftr-443	416	21	may	may	AUX
ftr-443	416	22	be	be	AUX
ftr-443	416	23	a	a	DET
ftr-443	416	24	disappearing	disappear	VERB
ftr-443	416	25	basis	basis	NOUN
ftr-443	416	26	problem	problem	NOUN
ftr-443	416	27	for	for	ADP
ftr-443	416	28	a	a	DET
ftr-443	416	29	purchased	purchase	VERB
ftr-443	416	30	subsidiary	subsidiary	NOUN
ftr-443	416	31	.	.	PUNCT
ftr-443	417	1	assume	assume	VERB
ftr-443	417	2	an	an	DET
ftr-443	417	3	s	s	NOUN
ftr-443	417	4	corporation	corporation	NOUN
ftr-443	417	5	purchases	purchase	NOUN
ftr-443	417	6	all	all	PRON
ftr-443	417	7	of	of	ADP
ftr-443	417	8	the	the	DET
ftr-443	417	9	stock	stock	NOUN
ftr-443	417	10	of	of	ADP
ftr-443	417	11	a	a	DET
ftr-443	417	12	target	target	NOUN
ftr-443	417	13	c	c	NOUN
ftr-443	417	14	corporation	corporation	NOUN
ftr-443	417	15	for	for	ADP
ftr-443	417	16	$	$	SYM
ftr-443	417	17	2,000x	2,000x	NUM
ftr-443	417	18	and	and	CCONJ
ftr-443	417	19	does	do	AUX
ftr-443	417	20	not	not	PART
ftr-443	417	21	make	make	VERB
ftr-443	417	22	a	a	DET
ftr-443	417	23	section	section	NOUN
ftr-443	417	24	338	338	NUM
ftr-443	417	25	election	election	NOUN
ftr-443	417	26	;	;	PUNCT
ftr-443	417	27	the	the	DET
ftr-443	417	28	target	target	NOUN
ftr-443	417	29	's	's	PART
ftr-443	417	30	basis	basis	NOUN
ftr-443	417	31	for	for	ADP
ftr-443	417	32	its	its	PRON
ftr-443	417	33	assets	asset	NOUN
ftr-443	417	34	is	be	AUX
ftr-443	417	35	$	$	SYM
ftr-443	417	36	500x	500x	NOUN
ftr-443	417	37	.	.	PUNCT
ftr-443	418	1	by	by	ADP
ftr-443	418	2	purchasing	purchase	VERB
ftr-443	418	3	all	all	PRON
ftr-443	418	4	of	of	ADP
ftr-443	418	5	the	the	DET
ftr-443	418	6	target	target	NOUN
ftr-443	418	7	's	's	PART
ftr-443	418	8	stock	stock	NOUN
ftr-443	418	9	and	and	CCONJ
ftr-443	418	10	making	make	VERB
ftr-443	418	11	the	the	DET
ftr-443	418	12	qsub	qsub	PROPN
ftr-443	418	13	election	election	NOUN
ftr-443	418	14	(	(	PUNCT
ftr-443	418	15	or	or	CCONJ
ftr-443	418	16	,	,	PUNCT
ftr-443	418	17	alternatively	alternatively	ADV
ftr-443	418	18	,	,	PUNCT
ftr-443	418	19	by	by	ADP
ftr-443	418	20	immediately	immediately	ADV
ftr-443	418	21	liquidating	liquidate	VERB
ftr-443	418	22	the	the	DET
ftr-443	418	23	target	target	NOUN
ftr-443	418	24	into	into	ADP
ftr-443	418	25	the	the	DET
ftr-443	418	26	purchaser	purchaser	NOUN
ftr-443	418	27	)	)	PUNCT
ftr-443	418	28	,	,	PUNCT
ftr-443	418	29	$	$	SYM
ftr-443	418	30	1,500x	1,500x	NUM
ftr-443	418	31	of	of	ADP
ftr-443	418	32	basis	basis	NOUN
ftr-443	418	33	-	-	PUNCT
ftr-443	418	34	the	the	DET
ftr-443	418	35	excess	excess	NOUN
ftr-443	418	36	of	of	ADP
ftr-443	418	37	the	the	DET
ftr-443	418	38	$	$	SYM
ftr-443	418	39	2,000x	2,000x	NUM
ftr-443	418	40	paid	pay	VERB
ftr-443	418	41	by	by	ADP
ftr-443	418	42	the	the	DET
ftr-443	418	43	parent	parent	NOUN
ftr-443	418	44	for	for	ADP
ftr-443	418	45	the	the	DET
ftr-443	418	46	subsidiary	subsidiary	NOUN
ftr-443	418	47	stock	stock	NOUN
ftr-443	418	48	over	over	ADP
ftr-443	418	49	the	the	DET
ftr-443	418	50	target	target	NOUN
ftr-443	418	51	's	's	PART
ftr-443	418	52	basis	basis	NOUN
ftr-443	418	53	for	for	SCONJ
ftr-443	418	54	its	its	PRON
ftr-443	418	55	assets	asset	NOUN
ftr-443	418	56	-	-	PUNCT
ftr-443	418	57	disappears	disappear	VERB
ftr-443	418	58	because	because	SCONJ
ftr-443	418	59	,	,	PUNCT
ftr-443	418	60	under	under	ADP
ftr-443	418	61	section	section	NOUN
ftr-443	418	62	334(b	334(b	NUM
ftr-443	418	63	)	)	PUNCT
ftr-443	418	64	,	,	PUNCT
ftr-443	418	65	the	the	DET
ftr-443	418	66	50	50	NUM
ftr-443	418	67	.	.	PUNCT
ftr-443	419	1	see	see	VERB
ftr-443	419	2	irc	irc	PROPN
ftr-443	419	3	§	§	PROPN
ftr-443	419	4	856(i	856(i	PROPN
ftr-443	419	5	)	)	PUNCT
ftr-443	419	6	.	.	PUNCT
ftr-443	420	1	for	for	ADP
ftr-443	420	2	an	an	DET
ftr-443	420	3	analogy	analogy	NOUN
ftr-443	420	4	,	,	PUNCT
ftr-443	420	5	see	see	VERB
ftr-443	420	6	priv	priv	NOUN
ftr-443	420	7	.	.	PUNCT
ftr-443	421	1	ltr	ltr	PROPN
ftr-443	421	2	.	.	PUNCT
ftr-443	421	3	rul	rul	PROPN
ftr-443	421	4	.	.	PUNCT
ftr-443	422	1	95	95	NUM
ftr-443	422	2	-	-	SYM
ftr-443	422	3	27	27	NUM
ftr-443	422	4	-	-	SYM
ftr-443	422	5	020	020	NUM
ftr-443	422	6	(	(	PUNCT
ftr-443	422	7	apr	apr	NOUN
ftr-443	422	8	.	.	PROPN
ftr-443	422	9	6	6	NUM
ftr-443	422	10	,	,	PUNCT
ftr-443	422	11	1995	1995	NUM
ftr-443	422	12	)	)	PUNCT
ftr-443	422	13	(	(	PUNCT
ftr-443	422	14	reit	reit	NOUN
ftr-443	422	15	lower	low	ADJ
ftr-443	422	16	tier	tier	NOUN
ftr-443	422	17	subsidiaries	subsidiary	NOUN
ftr-443	422	18	)	)	PUNCT
ftr-443	422	19	.	.	PUNCT
ftr-443	423	1	51	51	NUM
ftr-443	423	2	.	.	PUNCT
ftr-443	423	3	see	see	VERB
ftr-443	423	4	staff	staff	NOUN
ftr-443	423	5	of	of	ADP
ftr-443	423	6	joint	joint	ADJ
ftr-443	423	7	common	common	ADJ
ftr-443	423	8	tax'n	tax'n	NOUN
ftr-443	423	9	,	,	PUNCT
ftr-443	423	10	supra	supra	ADJ
ftr-443	423	11	note	note	NOUN
ftr-443	423	12	49	49	NUM
ftr-443	423	13	,	,	PUNCT
ftr-443	423	14	at	at	ADP
ftr-443	423	15	120	120	NUM
ftr-443	423	16	n.121	n.121	NUM
ftr-443	423	17	.	.	PUNCT
ftr-443	424	1	52	52	NUM
ftr-443	424	2	.	.	PUNCT
ftr-443	425	1	see	see	VERB
ftr-443	425	2	irc	irc	PROPN
ftr-443	425	3	§	§	PROPN
ftr-443	425	4	1368(c	1368(c	NUM
ftr-443	425	5	)	)	PUNCT
ftr-443	425	6	(	(	PUNCT
ftr-443	425	7	distributions	distribution	NOUN
ftr-443	425	8	by	by	ADP
ftr-443	425	9	s	s	PART
ftr-443	425	10	corporations	corporation	NOUN
ftr-443	425	11	with	with	ADP
ftr-443	425	12	earnings	earning	NOUN
ftr-443	425	13	and	and	CCONJ
ftr-443	425	14	profits	profit	NOUN
ftr-443	425	15	)	)	PUNCT
ftr-443	425	16	.	.	PUNCT
ftr-443	426	1	1999	1999	NUM
ftr-443	426	2	]	]	PUNCT
ftr-443	426	3	florida	florida	PROPN
ftr-443	426	4	tax	tax	PROPN
ftr-443	426	5	review	review	NOUN
ftr-443	426	6	parent	parent	NOUN
ftr-443	426	7	succeeds	succeed	VERB
ftr-443	426	8	to	to	ADP
ftr-443	426	9	the	the	DET
ftr-443	426	10	subsidiary	subsidiary	NOUN
ftr-443	426	11	's	's	PART
ftr-443	426	12	basis	basis	NOUN
ftr-443	426	13	for	for	ADP
ftr-443	426	14	its	its	PRON
ftr-443	426	15	assets	asset	NOUN
ftr-443	426	16	.	.	PUNCT
ftr-443	427	1	gain	gain	VERB
ftr-443	427	2	equal	equal	ADJ
ftr-443	427	3	to	to	ADP
ftr-443	427	4	the	the	DET
ftr-443	427	5	lost	lost	ADJ
ftr-443	427	6	basis	basis	NOUN
ftr-443	427	7	may	may	AUX
ftr-443	427	8	be	be	AUX
ftr-443	427	9	recognized	recognize	VERB
ftr-443	427	10	by	by	ADP
ftr-443	427	11	the	the	DET
ftr-443	427	12	s	s	PROPN
ftr-443	427	13	corporation	corporation	NOUN
ftr-443	427	14	as	as	ADP
ftr-443	427	15	built	build	VERB
ftr-443	427	16	-	-	PUNCT
ftr-443	427	17	in	in	ADP
ftr-443	427	18	gain	gain	NOUN
ftr-443	427	19	under	under	ADP
ftr-443	427	20	section	section	NOUN
ftr-443	427	21	1374	1374	NUM
ftr-443	427	22	if	if	SCONJ
ftr-443	427	23	the	the	DET
ftr-443	427	24	qsub	qsub	NOUN
ftr-443	427	25	sells	sell	VERB
ftr-443	427	26	its	its	PRON
ftr-443	427	27	assets	asset	NOUN
ftr-443	427	28	within	within	ADP
ftr-443	427	29	10	10	NUM
ftr-443	427	30	years	year	NOUN
ftr-443	427	31	.	.	PUNCT
ftr-443	428	1	finally	finally	ADV
ftr-443	428	2	,	,	PUNCT
ftr-443	428	3	the	the	DET
ftr-443	428	4	service	service	NOUN
ftr-443	428	5	has	have	AUX
ftr-443	428	6	been	be	AUX
ftr-443	428	7	heard	hear	VERB
ftr-443	428	8	to	to	PART
ftr-443	428	9	be	be	AUX
ftr-443	428	10	rattling	rattle	VERB
ftr-443	428	11	its	its	PRON
ftr-443	428	12	saber	saber	NOUN
ftr-443	428	13	that	that	SCONJ
ftr-443	428	14	it	it	PRON
ftr-443	428	15	will	will	AUX
ftr-443	428	16	apply	apply	VERB
ftr-443	428	17	the	the	DET
ftr-443	428	18	bausch	bausch	PROPN
ftr-443	428	19	&	&	CCONJ
ftr-443	428	20	lomb	lomb	PROPN
ftr-443	428	21	doctrine	doctrine	NOUN
ftr-443	428	22	to	to	ADP
ftr-443	428	23	a	a	DET
ftr-443	428	24	contribution	contribution	NOUN
ftr-443	428	25	of	of	ADP
ftr-443	428	26	more	more	ADJ
ftr-443	428	27	than	than	ADP
ftr-443	428	28	20	20	NUM
ftr-443	428	29	%	%	NOUN
ftr-443	428	30	of	of	ADP
ftr-443	428	31	the	the	DET
ftr-443	428	32	stock	stock	NOUN
ftr-443	428	33	of	of	ADP
ftr-443	428	34	a	a	DET
ftr-443	428	35	subsidiary	subsidiary	NOUN
ftr-443	428	36	to	to	ADP
ftr-443	428	37	an	an	DET
ftr-443	428	38	s	s	NOUN
ftr-443	428	39	corporation	corporation	NOUN
ftr-443	428	40	in	in	ADP
ftr-443	428	41	order	order	NOUN
ftr-443	428	42	to	to	PART
ftr-443	428	43	make	make	VERB
ftr-443	428	44	a	a	DET
ftr-443	428	45	the	the	DET
ftr-443	428	46	subsidiary	subsidiary	NOUN
ftr-443	428	47	eligible	eligible	ADJ
ftr-443	428	48	for	for	ADP
ftr-443	428	49	a	a	DET
ftr-443	428	50	qsub	qsub	PROPN
ftr-443	428	51	election.53	election.53	NOUN
ftr-443	428	52	this	this	DET
ftr-443	428	53	fear	fear	NOUN
ftr-443	428	54	was	be	AUX
ftr-443	428	55	confirmed	confirm	VERB
ftr-443	428	56	by	by	ADP
ftr-443	428	57	proposed	propose	VERB
ftr-443	428	58	regulations	regulation	NOUN
ftr-443	428	59	issued	issue	VERB
ftr-443	428	60	this	this	DET
ftr-443	428	61	year	year	NOUN
ftr-443	428	62	.	.	PUNCT
ftr-443	428	63	'	'	PUNCT
ftr-443	429	1	b.	b.	PROPN
ftr-443	429	2	conversion	conversion	NOUN
ftr-443	429	3	of	of	ADP
ftr-443	429	4	consolidated	consolidated	ADJ
ftr-443	429	5	group	group	NOUN
ftr-443	429	6	into	into	ADP
ftr-443	429	7	qsub	qsub	PROPN
ftr-443	429	8	group.-if	group.-if	NOUN
ftr-443	429	9	there	there	PRON
ftr-443	429	10	is	be	VERB
ftr-443	429	11	100	100	NUM
ftr-443	429	12	%	%	NOUN
ftr-443	429	13	ownership	ownership	NOUN
ftr-443	429	14	of	of	ADP
ftr-443	429	15	each	each	DET
ftr-443	429	16	member	member	NOUN
ftr-443	429	17	of	of	ADP
ftr-443	429	18	a	a	DET
ftr-443	429	19	consolidated	consolidated	ADJ
ftr-443	429	20	group	group	NOUN
ftr-443	429	21	,	,	PUNCT
ftr-443	429	22	and	and	CCONJ
ftr-443	429	23	the	the	DET
ftr-443	429	24	shareholders	shareholder	NOUN
ftr-443	429	25	of	of	ADP
ftr-443	429	26	the	the	DET
ftr-443	429	27	parent	parent	NOUN
ftr-443	429	28	c	c	PROPN
ftr-443	429	29	corporation	corporation	NOUN
ftr-443	429	30	are	be	AUX
ftr-443	429	31	permissible	permissible	ADJ
ftr-443	429	32	shareholders	shareholder	NOUN
ftr-443	429	33	,	,	PUNCT
ftr-443	429	34	the	the	DET
ftr-443	429	35	qsub	qsub	NOUN
ftr-443	429	36	rules	rule	VERB
ftr-443	429	37	make	make	VERB
ftr-443	429	38	it	it	PRON
ftr-443	429	39	possible	possible	ADJ
ftr-443	429	40	to	to	PART
ftr-443	429	41	convert	convert	VERB
ftr-443	429	42	the	the	DET
ftr-443	429	43	entire	entire	ADJ
ftr-443	429	44	group	group	NOUN
ftr-443	429	45	to	to	ADP
ftr-443	429	46	a	a	DET
ftr-443	429	47	subchapter	subchapter	NOUN
ftr-443	429	48	s	s	PART
ftr-443	429	49	regime	regime	NOUN
ftr-443	429	50	.	.	PUNCT
ftr-443	430	1	as	as	SCONJ
ftr-443	430	2	previously	previously	ADV
ftr-443	430	3	mentioned	mention	VERB
ftr-443	430	4	,	,	PUNCT
ftr-443	430	5	such	such	DET
ftr-443	430	6	a	a	DET
ftr-443	430	7	conversion	conversion	NOUN
ftr-443	430	8	would	would	AUX
ftr-443	430	9	result	result	VERB
ftr-443	430	10	in	in	ADP
ftr-443	430	11	the	the	DET
ftr-443	430	12	application	application	NOUN
ftr-443	430	13	of	of	ADP
ftr-443	430	14	the	the	DET
ftr-443	430	15	built	build	VERB
ftr-443	430	16	-	-	PUNCT
ftr-443	430	17	in	in	ADP
ftr-443	430	18	gains	gain	NOUN
ftr-443	430	19	tax	tax	NOUN
ftr-443	430	20	and	and	CCONJ
ftr-443	430	21	lifo	lifo	NOUN
ftr-443	430	22	recapture	recapture	NOUN
ftr-443	430	23	and	and	CCONJ
ftr-443	430	24	other	other	ADJ
ftr-443	430	25	c	c	PROPN
ftr-443	430	26	to	to	AUX
ftr-443	430	27	s	s	NOUN
ftr-443	430	28	conversion	conversion	NOUN
ftr-443	430	29	issues	issue	NOUN
ftr-443	430	30	.	.	PUNCT
ftr-443	431	1	before	before	ADP
ftr-443	431	2	1996	1996	NUM
ftr-443	431	3	,	,	PUNCT
ftr-443	431	4	the	the	DET
ftr-443	431	5	group	group	NOUN
ftr-443	431	6	could	could	AUX
ftr-443	431	7	have	have	AUX
ftr-443	431	8	been	be	AUX
ftr-443	431	9	converted	convert	VERB
ftr-443	431	10	from	from	ADP
ftr-443	431	11	c	c	PROPN
ftr-443	431	12	to	to	ADP
ftr-443	431	13	s	s	PRON
ftr-443	431	14	only	only	ADV
ftr-443	431	15	by	by	ADP
ftr-443	431	16	merging	merge	VERB
ftr-443	431	17	or	or	CCONJ
ftr-443	431	18	liquidating	liquidate	VERB
ftr-443	431	19	all	all	PRON
ftr-443	431	20	of	of	ADP
ftr-443	431	21	the	the	DET
ftr-443	431	22	subsidiaries	subsidiary	NOUN
ftr-443	431	23	into	into	ADP
ftr-443	431	24	the	the	DET
ftr-443	431	25	parent	parent	NOUN
ftr-443	431	26	,	,	PUNCT
ftr-443	431	27	which	which	PRON
ftr-443	431	28	may	may	AUX
ftr-443	431	29	have	have	AUX
ftr-443	431	30	caused	cause	VERB
ftr-443	431	31	an	an	DET
ftr-443	431	32	undesirable	undesirable	ADJ
ftr-443	431	33	shift	shift	NOUN
ftr-443	431	34	in	in	ADP
ftr-443	431	35	risk	risk	NOUN
ftr-443	431	36	to	to	ADP
ftr-443	431	37	the	the	DET
ftr-443	431	38	parent	parent	NOUN
ftr-443	431	39	since	since	SCONJ
ftr-443	431	40	all	all	DET
ftr-443	431	41	subsidiary	subsidiary	NOUN
ftr-443	431	42	debt	debt	NOUN
ftr-443	431	43	would	would	AUX
ftr-443	431	44	effectively	effectively	ADV
ftr-443	431	45	be	be	AUX
ftr-443	431	46	assumed	assume	VERB
ftr-443	431	47	.	.	PUNCT
ftr-443	432	1	with	with	ADP
ftr-443	432	2	the	the	DET
ftr-443	432	3	new	new	ADJ
ftr-443	432	4	qsub	qsub	PROPN
ftr-443	432	5	rule	rule	NOUN
ftr-443	432	6	,	,	PUNCT
ftr-443	432	7	the	the	DET
ftr-443	432	8	conversion	conversion	NOUN
ftr-443	432	9	to	to	PART
ftr-443	432	10	subchapter	subchapter	NOUN
ftr-443	432	11	s	s	VERB
ftr-443	432	12	can	can	AUX
ftr-443	432	13	be	be	AUX
ftr-443	432	14	accomplished	accomplish	VERB
ftr-443	432	15	without	without	ADP
ftr-443	432	16	changing	change	VERB
ftr-443	432	17	the	the	DET
ftr-443	432	18	group	group	NOUN
ftr-443	432	19	's	's	PART
ftr-443	432	20	structure	structure	NOUN
ftr-443	432	21	,	,	PUNCT
ftr-443	432	22	thereby	thereby	ADV
ftr-443	432	23	maintaining	maintain	VERB
ftr-443	432	24	desired	desire	VERB
ftr-443	432	25	asset	asset	NOUN
ftr-443	432	26	and	and	CCONJ
ftr-443	432	27	liability	liability	NOUN
ftr-443	432	28	segregation	segregation	NOUN
ftr-443	432	29	.	.	PUNCT
ftr-443	433	1	a	a	DET
ftr-443	433	2	consolidated	consolidated	ADJ
ftr-443	433	3	group	group	NOUN
ftr-443	433	4	has	have	VERB
ftr-443	433	5	a	a	DET
ftr-443	433	6	tax	tax	NOUN
ftr-443	433	7	history	history	NOUN
ftr-443	433	8	,	,	PUNCT
ftr-443	433	9	including	include	VERB
ftr-443	433	10	intercompany	intercompany	NOUN
ftr-443	433	11	transactions	transaction	NOUN
ftr-443	433	12	that	that	PRON
ftr-443	433	13	have	have	AUX
ftr-443	433	14	been	be	AUX
ftr-443	433	15	deferred	defer	VERB
ftr-443	433	16	or	or	CCONJ
ftr-443	433	17	nonaccelerated	nonaccelerate	VERB
ftr-443	433	18	,	,	PUNCT
ftr-443	433	19	and	and	CCONJ
ftr-443	433	20	,	,	PUNCT
ftr-443	433	21	in	in	ADP
ftr-443	433	22	appropriate	appropriate	ADJ
ftr-443	433	23	instances	instance	NOUN
ftr-443	433	24	,	,	PUNCT
ftr-443	433	25	a	a	DET
ftr-443	433	26	group	group	NOUN
ftr-443	433	27	must	must	AUX
ftr-443	433	28	track	track	VERB
ftr-443	433	29	the	the	DET
ftr-443	433	30	parent	parent	NOUN
ftr-443	433	31	company	company	NOUN
ftr-443	433	32	's	's	PART
ftr-443	433	33	obligation	obligation	NOUN
ftr-443	433	34	of	of	ADP
ftr-443	433	35	a	a	DET
ftr-443	433	36	subsidiary	subsidiary	NOUN
ftr-443	433	37	's	's	PART
ftr-443	433	38	losses	loss	NOUN
ftr-443	433	39	in	in	ADP
ftr-443	433	40	excess	excess	NOUN
ftr-443	433	41	of	of	ADP
ftr-443	433	42	the	the	DET
ftr-443	433	43	parent	parent	NOUN
ftr-443	433	44	's	's	PART
ftr-443	433	45	investment	investment	NOUN
ftr-443	433	46	in	in	ADP
ftr-443	433	47	the	the	DET
ftr-443	433	48	subsidiary	subsidiary	NOUN
ftr-443	433	49	(	(	PUNCT
ftr-443	433	50	"	"	PUNCT
ftr-443	433	51	excess	excess	ADJ
ftr-443	433	52	loss	loss	NOUN
ftr-443	433	53	account	account	NOUN
ftr-443	433	54	"	"	PUNCT
ftr-443	433	55	or	or	CCONJ
ftr-443	433	56	ela	ela	PROPN
ftr-443	433	57	)	)	PUNCT
ftr-443	433	58	.	.	PUNCT
ftr-443	434	1	a	a	DET
ftr-443	434	2	question	question	NOUN
ftr-443	434	3	arising	arise	VERB
ftr-443	434	4	in	in	ADP
ftr-443	434	5	converting	convert	VERB
ftr-443	434	6	a	a	DET
ftr-443	434	7	consolidated	consolidated	ADJ
ftr-443	434	8	group	group	NOUN
ftr-443	434	9	to	to	ADP
ftr-443	434	10	a	a	DET
ftr-443	434	11	qsub	qsub	PROPN
ftr-443	434	12	regime	regime	NOUN
ftr-443	434	13	is	be	AUX
ftr-443	434	14	the	the	DET
ftr-443	434	15	effects	effect	NOUN
ftr-443	434	16	of	of	ADP
ftr-443	434	17	the	the	DET
ftr-443	434	18	conversion	conversion	NOUN
ftr-443	434	19	on	on	ADP
ftr-443	434	20	intercompany	intercompany	NOUN
ftr-443	434	21	accounts	account	NOUN
ftr-443	434	22	and	and	CCONJ
ftr-443	434	23	elas	ela	NOUN
ftr-443	434	24	.	.	PUNCT
ftr-443	435	1	as	as	ADP
ftr-443	435	2	to	to	ADP
ftr-443	435	3	deferred	defer	VERB
ftr-443	435	4	or	or	CCONJ
ftr-443	435	5	nonaccelerated	nonaccelerate	VERB
ftr-443	435	6	intercompany	intercompany	NOUN
ftr-443	435	7	gain	gain	NOUN
ftr-443	435	8	,	,	PUNCT
ftr-443	435	9	since	since	SCONJ
ftr-443	435	10	the	the	DET
ftr-443	435	11	benefits	benefit	NOUN
ftr-443	435	12	of	of	ADP
ftr-443	435	13	consolidated	consolidated	ADJ
ftr-443	435	14	reporting	reporting	NOUN
ftr-443	435	15	are	be	AUX
ftr-443	435	16	revoked	revoke	VERB
ftr-443	435	17	in	in	ADP
ftr-443	435	18	favor	favor	NOUN
ftr-443	435	19	of	of	ADP
ftr-443	435	20	a	a	DET
ftr-443	435	21	single	single	ADJ
ftr-443	435	22	tax	tax	NOUN
ftr-443	435	23	system	system	NOUN
ftr-443	435	24	under	under	ADP
ftr-443	435	25	subchapter	subchapter	NOUN
ftr-443	435	26	s	s	PART
ftr-443	435	27	,	,	PUNCT
ftr-443	435	28	the	the	DET
ftr-443	435	29	service	service	NOUN
ftr-443	435	30	may	may	AUX
ftr-443	435	31	feel	feel	VERB
ftr-443	435	32	that	that	SCONJ
ftr-443	435	33	it	it	PRON
ftr-443	435	34	is	be	AUX
ftr-443	435	35	appropriate	appropriate	ADJ
ftr-443	435	36	to	to	PART
ftr-443	435	37	require	require	VERB
ftr-443	435	38	a	a	DET
ftr-443	435	39	complete	complete	ADJ
ftr-443	435	40	catch	catch	NOUN
ftr-443	435	41	-	-	PUNCT
ftr-443	435	42	up	up	NOUN
ftr-443	435	43	,	,	PUNCT
ftr-443	435	44	triggering	trigger	VERB
ftr-443	435	45	deferred	defer	VERB
ftr-443	435	46	gain	gain	NOUN
ftr-443	435	47	on	on	ADP
ftr-443	435	48	intercompany	intercompany	NOUN
ftr-443	435	49	transactions	transaction	NOUN
ftr-443	435	50	upon	upon	SCONJ
ftr-443	435	51	a	a	DET
ftr-443	435	52	qsub	qsub	PROPN
ftr-443	435	53	conversion	conversion	NOUN
ftr-443	435	54	.	.	PUNCT
ftr-443	436	1	on	on	ADP
ftr-443	436	2	the	the	DET
ftr-443	436	3	other	other	ADJ
ftr-443	436	4	hand	hand	NOUN
ftr-443	436	5	,	,	PUNCT
ftr-443	436	6	the	the	DET
ftr-443	436	7	long	long	ADV
ftr-443	436	8	-	-	PUNCT
ftr-443	436	9	standing	stand	VERB
ftr-443	436	10	policy	policy	NOUN
ftr-443	436	11	is	be	AUX
ftr-443	436	12	that	that	SCONJ
ftr-443	436	13	a	a	DET
ftr-443	436	14	c	c	NOUN
ftr-443	436	15	to	to	PART
ftr-443	436	16	s	s	PRON
ftr-443	436	17	conversion	conversion	NOUN
ftr-443	436	18	is	be	AUX
ftr-443	436	19	not	not	PART
ftr-443	436	20	a	a	DET
ftr-443	436	21	realization	realization	NOUN
ftr-443	436	22	event	event	NOUN
ftr-443	436	23	.	.	PUNCT
ftr-443	437	1	since	since	SCONJ
ftr-443	437	2	there	there	PRON
ftr-443	437	3	is	be	VERB
ftr-443	437	4	a	a	DET
ftr-443	437	5	carryover	carryover	NOUN
ftr-443	437	6	of	of	ADP
ftr-443	437	7	adjusted	adjusted	ADJ
ftr-443	437	8	basis	basis	NOUN
ftr-443	437	9	to	to	ADP
ftr-443	437	10	the	the	DET
ftr-443	437	11	s	s	PART
ftr-443	437	12	corporation	corporation	NOUN
ftr-443	437	13	parent	parent	NOUN
ftr-443	437	14	,	,	PUNCT
ftr-443	437	15	there	there	PRON
ftr-443	437	16	is	be	VERB
ftr-443	437	17	arguably	arguably	ADV
ftr-443	437	18	no	no	DET
ftr-443	437	19	need	need	NOUN
ftr-443	437	20	to	to	PART
ftr-443	437	21	impose	impose	VERB
ftr-443	437	22	tax.55	tax.55	NOUN
ftr-443	437	23	53	53	NUM
ftr-443	437	24	.	.	PUNCT
ftr-443	438	1	bausch	bausch	PROPN
ftr-443	438	2	&	&	CCONJ
ftr-443	438	3	lomb	lomb	PROPN
ftr-443	438	4	optical	optical	PROPN
ftr-443	438	5	co.	co.	PROPN
ftr-443	438	6	v.	v.	ADP
ftr-443	438	7	commissioner	commissioner	PROPN
ftr-443	438	8	,	,	PUNCT
ftr-443	438	9	267	267	NUM
ftr-443	438	10	f.2d	f.2d	X
ftr-443	438	11	75	75	NUM
ftr-443	438	12	(	(	PUNCT
ftr-443	438	13	2d	2d	NUM
ftr-443	438	14	cir	cir	NOUN
ftr-443	438	15	.	.	PUNCT
ftr-443	438	16	)	)	PUNCT
ftr-443	438	17	,	,	PUNCT
ftr-443	438	18	cert	cert	PROPN
ftr-443	438	19	.	.	PUNCT
ftr-443	438	20	denied	deny	VERB
ftr-443	438	21	,	,	PUNCT
ftr-443	438	22	361	361	NUM
ftr-443	438	23	u.s	u.s	PROPN
ftr-443	438	24	.	.	PROPN
ftr-443	438	25	835	835	NUM
ftr-443	438	26	(	(	PUNCT
ftr-443	438	27	1959	1959	NUM
ftr-443	438	28	)	)	PUNCT
ftr-443	438	29	.	.	PUNCT
ftr-443	439	1	54	54	NUM
ftr-443	439	2	.	.	PUNCT
ftr-443	440	1	see	see	VERB
ftr-443	440	2	prop	prop	NOUN
ftr-443	440	3	.	.	PUNCT
ftr-443	441	1	regs	regs	PROPN
ftr-443	441	2	.	.	PUNCT
ftr-443	442	1	§	§	PROPN
ftr-443	442	2	§	§	PROPN
ftr-443	442	3	1.1361	1.1361	NUM
ftr-443	442	4	-	-	SYM
ftr-443	442	5	2	2	NUM
ftr-443	442	6	to	to	PART
ftr-443	442	7	-5	-5	VERB
ftr-443	442	8	;	;	PUNCT
ftr-443	442	9	jerald	jerald	PROPN
ftr-443	442	10	d.	d.	PROPN
ftr-443	442	11	august	august	PROPN
ftr-443	442	12	et	et	PROPN
ftr-443	442	13	al	al	PROPN
ftr-443	442	14	.	.	PROPN
ftr-443	442	15	,	,	PUNCT
ftr-443	442	16	a	a	DET
ftr-443	442	17	planning	planning	NOUN
ftr-443	442	18	guide	guide	NOUN
ftr-443	442	19	to	to	ADP
ftr-443	442	20	the	the	DET
ftr-443	442	21	proposed	propose	VERB
ftr-443	442	22	regulations	regulation	NOUN
ftr-443	442	23	on	on	ADP
ftr-443	442	24	qualified	qualified	ADJ
ftr-443	442	25	subchapter	subchapter	NOUN
ftr-443	442	26	s	s	PART
ftr-443	442	27	subsidiaries	subsidiary	NOUN
ftr-443	442	28	,	,	PUNCT
ftr-443	442	29	10	10	NUM
ftr-443	442	30	j.	j.	PROPN
ftr-443	442	31	s	s	PROPN
ftr-443	442	32	corp	corp	PROPN
ftr-443	442	33	.	.	PROPN
ftr-443	442	34	tax'n	tax'n	ADV
ftr-443	442	35	171	171	NUM
ftr-443	442	36	(	(	PUNCT
ftr-443	442	37	1999	1999	NUM
ftr-443	442	38	)	)	PUNCT
ftr-443	442	39	;	;	PUNCT
ftr-443	442	40	jerald	jerald	PROPN
ftr-443	442	41	d.	d.	PROPN
ftr-443	442	42	august	august	PROPN
ftr-443	442	43	&	&	CCONJ
ftr-443	442	44	jeffrey	jeffrey	PROPN
ftr-443	442	45	l.	l.	PROPN
ftr-443	442	46	rubinger	rubinger	PROPN
ftr-443	442	47	,	,	PUNCT
ftr-443	442	48	proposed	propose	VERB
ftr-443	442	49	regulations	regulation	NOUN
ftr-443	442	50	dealing	deal	VERB
ftr-443	442	51	with	with	ADP
ftr-443	442	52	qualified	qualified	PROPN
ftr-443	442	53	s	s	PART
ftr-443	442	54	corporation	corporation	NOUN
ftr-443	442	55	subsidiaries	subsidiary	NOUN
ftr-443	442	56	issued	issue	VERB
ftr-443	442	57	by	by	ADP
ftr-443	442	58	the	the	DET
ftr-443	442	59	service	service	NOUN
ftr-443	442	60	,	,	PUNCT
ftr-443	442	61	10	10	NUM
ftr-443	442	62	j.	j.	PROPN
ftr-443	442	63	s	s	PROPN
ftr-443	442	64	corp	corp	PROPN
ftr-443	442	65	.	.	PROPN
ftr-443	442	66	tax'n	tax'n	ADP
ftr-443	442	67	109	109	NUM
ftr-443	442	68	(	(	PUNCT
ftr-443	442	69	1998	1998	NUM
ftr-443	442	70	)	)	PUNCT
ftr-443	442	71	.	.	PUNCT
ftr-443	443	1	55	55	NUM
ftr-443	443	2	.	.	PUNCT
ftr-443	444	1	under	under	ADP
ftr-443	444	2	regulations	regulation	NOUN
ftr-443	444	3	in	in	ADP
ftr-443	444	4	effect	effect	NOUN
ftr-443	444	5	for	for	ADP
ftr-443	444	6	taxable	taxable	ADJ
ftr-443	444	7	years	year	NOUN
ftr-443	444	8	commencing	commence	VERB
ftr-443	444	9	prior	prior	ADV
ftr-443	444	10	to	to	ADP
ftr-443	444	11	july	july	PROPN
ftr-443	444	12	12	12	NUM
ftr-443	444	13	,	,	PUNCT
ftr-443	444	14	1995	1995	NUM
ftr-443	444	15	,	,	PUNCT
ftr-443	444	16	deferred	defer	VERB
ftr-443	444	17	intercompany	intercompany	NOUN
ftr-443	444	18	gain	gain	NOUN
ftr-443	444	19	generally	generally	ADV
ftr-443	444	20	was	be	AUX
ftr-443	444	21	not	not	PART
ftr-443	444	22	recognized	recognize	VERB
ftr-443	444	23	in	in	ADP
ftr-443	444	24	a	a	DET
ftr-443	444	25	§	§	PROPN
ftr-443	444	26	332	332	NUM
ftr-443	444	27	liquidation	liquidation	NOUN
ftr-443	444	28	.	.	PUNCT
ftr-443	445	1	see	see	VERB
ftr-443	445	2	regs	reg	NOUN
ftr-443	445	3	.	.	PUNCT
ftr-443	446	1	[	[	X
ftr-443	446	2	vol	vol	NOUN
ftr-443	446	3	4:3	4:3	NUM
ftr-443	446	4	benefits	benefit	NOUN
ftr-443	446	5	and	and	CCONJ
ftr-443	446	6	burdens	burden	NOUN
ftr-443	446	7	of	of	ADP
ftr-443	446	8	subchapter	subchapter	NOUN
ftr-443	446	9	s	s	VERB
ftr-443	446	10	the	the	DET
ftr-443	446	11	issue	issue	NOUN
ftr-443	446	12	with	with	ADP
ftr-443	446	13	ela	ela	PROPN
ftr-443	446	14	recapture	recapture	NOUN
ftr-443	446	15	is	be	AUX
ftr-443	446	16	perhaps	perhaps	ADV
ftr-443	446	17	easier	easy	ADJ
ftr-443	446	18	to	to	PART
ftr-443	446	19	resolve	resolve	VERB
ftr-443	446	20	favorably	favorably	ADV
ftr-443	446	21	than	than	ADP
ftr-443	446	22	the	the	DET
ftr-443	446	23	intercompany	intercompany	NOUN
ftr-443	446	24	transaction	transaction	NOUN
ftr-443	446	25	issue	issue	NOUN
ftr-443	446	26	since	since	SCONJ
ftr-443	446	27	the	the	DET
ftr-443	446	28	consolidated	consolidated	ADJ
ftr-443	446	29	return	return	NOUN
ftr-443	446	30	regulations	regulation	NOUN
ftr-443	446	31	do	do	AUX
ftr-443	446	32	not	not	PART
ftr-443	446	33	impose	impose	VERB
ftr-443	446	34	ela	ela	PROPN
ftr-443	446	35	recapture	recapture	NOUN
ftr-443	446	36	on	on	ADP
ftr-443	446	37	a	a	DET
ftr-443	446	38	section	section	NOUN
ftr-443	446	39	332	332	NUM
ftr-443	446	40	liquidation	liquidation	NOUN
ftr-443	446	41	.	.	PUNCT
ftr-443	446	42	'	'	PUNCT
ftr-443	447	1	however	however	ADV
ftr-443	447	2	,	,	PUNCT
ftr-443	447	3	confirmation	confirmation	NOUN
ftr-443	447	4	of	of	ADP
ftr-443	447	5	this	this	DET
ftr-443	447	6	result	result	NOUN
ftr-443	447	7	is	be	AUX
ftr-443	447	8	needed	need	VERB
ftr-443	447	9	because	because	SCONJ
ftr-443	447	10	an	an	DET
ftr-443	447	11	argument	argument	NOUN
ftr-443	447	12	may	may	AUX
ftr-443	447	13	be	be	AUX
ftr-443	447	14	made	make	VERB
ftr-443	447	15	that	that	SCONJ
ftr-443	447	16	given	give	VERB
ftr-443	447	17	the	the	DET
ftr-443	447	18	qsub	qsub	PROPN
ftr-443	447	19	election	election	NOUN
ftr-443	447	20	,	,	PUNCT
ftr-443	447	21	the	the	DET
ftr-443	447	22	affiliated	affiliated	ADJ
ftr-443	447	23	group	group	NOUN
ftr-443	447	24	will	will	AUX
ftr-443	447	25	not	not	PART
ftr-443	447	26	be	be	AUX
ftr-443	447	27	in	in	ADP
ftr-443	447	28	existence	existence	NOUN
ftr-443	447	29	at	at	ADP
ftr-443	447	30	the	the	DET
ftr-443	447	31	time	time	NOUN
ftr-443	447	32	of	of	ADP
ftr-443	447	33	the	the	DET
ftr-443	447	34	deemed	deem	VERB
ftr-443	447	35	liquidation	liquidation	NOUN
ftr-443	447	36	that	that	PRON
ftr-443	447	37	would	would	AUX
ftr-443	447	38	trigger	trigger	VERB
ftr-443	447	39	ela	ela	PROPN
ftr-443	447	40	recapture	recapture	VERB
ftr-443	447	41	.	.	PUNCT
ftr-443	448	1	perhaps	perhaps	ADV
ftr-443	448	2	using	use	VERB
ftr-443	448	3	a	a	DET
ftr-443	448	4	preemptive	preemptive	ADJ
ftr-443	448	5	strategy	strategy	NOUN
ftr-443	448	6	of	of	ADP
ftr-443	448	7	effectuating	effectuate	VERB
ftr-443	448	8	a	a	DET
ftr-443	448	9	state	state	NOUN
ftr-443	448	10	law	law	NOUN
ftr-443	448	11	merger	merger	NOUN
ftr-443	448	12	of	of	ADP
ftr-443	448	13	the	the	DET
ftr-443	448	14	subsidiary	subsidiary	NOUN
ftr-443	448	15	into	into	ADP
ftr-443	448	16	a	a	DET
ftr-443	448	17	single	single	ADJ
ftr-443	448	18	member	member	NOUN
ftr-443	448	19	llc	llc	PROPN
ftr-443	448	20	avoids	avoid	VERB
ftr-443	448	21	the	the	DET
ftr-443	448	22	issue	issue	NOUN
ftr-443	448	23	even	even	ADV
ftr-443	448	24	during	during	ADP
ftr-443	448	25	this	this	DET
ftr-443	448	26	wait	wait	VERB
ftr-443	448	27	-	-	PUNCT
ftr-443	448	28	for	for	ADP
ftr-443	448	29	-	-	PUNCT
ftr-443	448	30	guidance	guidance	NOUN
ftr-443	448	31	period	period	NOUN
ftr-443	448	32	.	.	PUNCT
ftr-443	449	1	if	if	SCONJ
ftr-443	449	2	the	the	DET
ftr-443	449	3	qsub	qsub	PROPN
ftr-443	449	4	or	or	CCONJ
ftr-443	449	5	chain	chain	NOUN
ftr-443	449	6	of	of	ADP
ftr-443	449	7	qsubs	qsub	NOUN
ftr-443	449	8	generating	generate	VERB
ftr-443	449	9	the	the	DET
ftr-443	449	10	ela	ela	PROPN
ftr-443	449	11	is	be	AUX
ftr-443	449	12	insolvent	insolvent	ADJ
ftr-443	449	13	,	,	PUNCT
ftr-443	449	14	a	a	DET
ftr-443	449	15	section	section	NOUN
ftr-443	449	16	332	332	NUM
ftr-443	449	17	triggers	trigger	NOUN
ftr-443	449	18	recapture	recapture	VERB
ftr-443	449	19	.	.	PUNCT
ftr-443	449	20	'	'	PUNCT
ftr-443	450	1	c.	c.	NOUN
ftr-443	450	2	termination	termination	NOUN
ftr-443	450	3	of	of	ADP
ftr-443	450	4	qsub	qsub	PROPN
ftr-443	450	5	election	election	PROPN
ftr-443	450	6	:	:	PUNCT
ftr-443	450	7	deemed	deem	VERB
ftr-443	450	8	section	section	NOUN
ftr-443	450	9	351	351	NUM
ftr-443	450	10	transfer.-qsub	transfer.-qsub	NOUN
ftr-443	450	11	status	status	NOUN
ftr-443	450	12	may	may	AUX
ftr-443	450	13	be	be	AUX
ftr-443	450	14	terminated	terminate	VERB
ftr-443	450	15	by	by	ADP
ftr-443	450	16	revocation	revocation	NOUN
ftr-443	450	17	or	or	CCONJ
ftr-443	450	18	by	by	ADP
ftr-443	450	19	a	a	DET
ftr-443	450	20	transfer	transfer	NOUN
ftr-443	450	21	of	of	ADP
ftr-443	450	22	a	a	DET
ftr-443	450	23	single	single	ADJ
ftr-443	450	24	share	share	NOUN
ftr-443	450	25	of	of	ADP
ftr-443	450	26	subsidiary	subsidiary	ADJ
ftr-443	450	27	stock	stock	NOUN
ftr-443	450	28	to	to	ADP
ftr-443	450	29	a	a	DET
ftr-443	450	30	shareholder	shareholder	NOUN
ftr-443	450	31	or	or	CCONJ
ftr-443	450	32	third	third	ADJ
ftr-443	450	33	party	party	NOUN
ftr-443	450	34	.	.	PUNCT
ftr-443	451	1	following	follow	VERB
ftr-443	451	2	the	the	DET
ftr-443	451	3	termination	termination	NOUN
ftr-443	451	4	,	,	PUNCT
ftr-443	451	5	the	the	DET
ftr-443	451	6	qsub	qsub	PROPN
ftr-443	451	7	is	be	AUX
ftr-443	451	8	treated	treat	VERB
ftr-443	451	9	as	as	ADP
ftr-443	451	10	a	a	DET
ftr-443	451	11	new	new	ADJ
ftr-443	451	12	corporation	corporation	NOUN
ftr-443	451	13	that	that	PRON
ftr-443	451	14	acquires	acquire	VERB
ftr-443	451	15	all	all	PRON
ftr-443	451	16	of	of	ADP
ftr-443	451	17	its	its	PRON
ftr-443	451	18	assets	asset	NOUN
ftr-443	451	19	and	and	CCONJ
ftr-443	451	20	assumes	assume	VERB
ftr-443	451	21	all	all	PRON
ftr-443	451	22	of	of	ADP
ftr-443	451	23	its	its	PRON
ftr-443	451	24	liabilities	liability	NOUN
ftr-443	451	25	from	from	ADP
ftr-443	451	26	the	the	DET
ftr-443	451	27	s	s	PART
ftr-443	451	28	corporation	corporation	NOUN
ftr-443	451	29	parent	parent	NOUN
ftr-443	451	30	in	in	ADP
ftr-443	451	31	exchange	exchange	NOUN
ftr-443	451	32	for	for	ADP
ftr-443	451	33	its	its	PRON
ftr-443	451	34	stock	stock	NOUN
ftr-443	451	35	in	in	ADP
ftr-443	451	36	a	a	DET
ftr-443	451	37	deemed	deem	VERB
ftr-443	451	38	section	section	NOUN
ftr-443	451	39	351	351	NUM
ftr-443	451	40	transaction	transaction	NOUN
ftr-443	451	41	.	.	PUNCT
ftr-443	451	42	'	'	PUNCT
ftr-443	452	1	the	the	DET
ftr-443	452	2	former	former	ADJ
ftr-443	452	3	qsub	qsub	PROPN
ftr-443	452	4	is	be	AUX
ftr-443	452	5	prohibited	prohibit	VERB
ftr-443	452	6	from	from	ADP
ftr-443	452	7	re	re	NOUN
ftr-443	452	8	-	-	ADJ
ftr-443	452	9	electing	elect	VERB
ftr-443	452	10	s	s	PART
ftr-443	452	11	status	status	NOUN
ftr-443	452	12	or	or	CCONJ
ftr-443	452	13	qsub	qsub	VERB
ftr-443	452	14	status	status	NOUN
ftr-443	452	15	for	for	ADP
ftr-443	452	16	5	5	NUM
ftr-443	452	17	years	year	NOUN
ftr-443	452	18	unless	unless	SCONJ
ftr-443	452	19	the	the	DET
ftr-443	452	20	service	service	NOUN
ftr-443	452	21	grants	grant	VERB
ftr-443	452	22	permission.5	permission.5	NOUN
ftr-443	452	23	9	9	NUM
ftr-443	452	24	section	section	NOUN
ftr-443	452	25	351	351	NUM
ftr-443	452	26	treatment	treatment	NOUN
ftr-443	452	27	may	may	AUX
ftr-443	452	28	seem	seem	VERB
ftr-443	452	29	innocent	innocent	ADJ
ftr-443	452	30	,	,	PUNCT
ftr-443	452	31	especially	especially	ADV
ftr-443	452	32	since	since	SCONJ
ftr-443	452	33	the	the	DET
ftr-443	452	34	statute	statute	NOUN
ftr-443	452	35	provides	provide	VERB
ftr-443	452	36	that	that	SCONJ
ftr-443	452	37	the	the	DET
ftr-443	452	38	deemed	deemed	ADJ
ftr-443	452	39	transfer	transfer	NOUN
ftr-443	452	40	occurs	occur	VERB
ftr-443	452	41	"	"	PUNCT
ftr-443	452	42	immediately	immediately	ADV
ftr-443	452	43	before	before	ADP
ftr-443	452	44	such	such	ADJ
ftr-443	452	45	[	[	X
ftr-443	452	46	qsub	qsub	X
ftr-443	452	47	]	]	X
ftr-443	452	48	cessation	cessation	NOUN
ftr-443	452	49	.	.	PUNCT
ftr-443	452	50	"	"	PUNCT
ftr-443	453	1	since	since	SCONJ
ftr-443	453	2	a	a	DET
ftr-443	453	3	section	section	NOUN
ftr-443	453	4	351	351	NUM
ftr-443	453	5	exchange	exchange	NOUN
ftr-443	453	6	is	be	AUX
ftr-443	453	7	generally	generally	ADV
ftr-443	453	8	nontaxable	nontaxable	ADJ
ftr-443	453	9	where	where	SCONJ
ftr-443	453	10	there	there	PRON
ftr-443	453	11	is	be	VERB
ftr-443	453	12	a	a	DET
ftr-443	453	13	single	single	ADJ
ftr-443	453	14	shareholder	shareholder	NOUN
ftr-443	453	15	who	who	PRON
ftr-443	453	16	transfers	transfer	VERB
ftr-443	453	17	all	all	PRON
ftr-443	453	18	of	of	ADP
ftr-443	453	19	the	the	DET
ftr-443	453	20	assets	asset	NOUN
ftr-443	453	21	in	in	ADP
ftr-443	453	22	exchange	exchange	NOUN
ftr-443	453	23	for	for	ADP
ftr-443	453	24	all	all	PRON
ftr-443	453	25	of	of	ADP
ftr-443	453	26	the	the	DET
ftr-443	453	27	issuing	issue	VERB
ftr-443	453	28	corporation	corporation	NOUN
ftr-443	453	29	's	's	PART
ftr-443	453	30	stock	stock	NOUN
ftr-443	453	31	,	,	PUNCT
ftr-443	453	32	only	only	ADV
ftr-443	453	33	section	section	NOUN
ftr-443	453	34	357(c	357(c	PROPN
ftr-443	453	35	)	)	PUNCT
ftr-443	453	36	,	,	PUNCT
ftr-443	453	37	which	which	PRON
ftr-443	453	38	applies	apply	VERB
ftr-443	453	39	if	if	SCONJ
ftr-443	453	40	the	the	DET
ftr-443	453	41	transferred	transfer	VERB
ftr-443	453	42	liabilities	liability	NOUN
ftr-443	453	43	exceed	exceed	VERB
ftr-443	453	44	the	the	DET
ftr-443	453	45	basis	basis	NOUN
ftr-443	453	46	of	of	ADP
ftr-443	453	47	the	the	DET
ftr-443	453	48	transferred	transfer	VERB
ftr-443	453	49	assets	asset	NOUN
ftr-443	453	50	,	,	PUNCT
ftr-443	453	51	should	should	AUX
ftr-443	453	52	pose	pose	VERB
ftr-443	453	53	a	a	DET
ftr-443	453	54	trap	trap	NOUN
ftr-443	453	55	for	for	ADP
ftr-443	453	56	the	the	DET
ftr-443	453	57	unwary	unwary	NOUN
ftr-443	453	58	.	.	PUNCT
ftr-443	454	1	however	however	ADV
ftr-443	454	2	,	,	PUNCT
ftr-443	454	3	the	the	DET
ftr-443	454	4	service	service	NOUN
ftr-443	454	5	may	may	AUX
ftr-443	454	6	take	take	VERB
ftr-443	454	7	the	the	DET
ftr-443	454	8	position	position	NOUN
ftr-443	454	9	that	that	SCONJ
ftr-443	454	10	the	the	DET
ftr-443	454	11	80	80	NUM
ftr-443	454	12	%	%	NOUN
ftr-443	454	13	control	control	NOUN
ftr-443	454	14	test	test	NOUN
ftr-443	454	15	is	be	AUX
ftr-443	454	16	violated	violate	VERB
ftr-443	454	17	if	if	SCONJ
ftr-443	454	18	more	more	ADJ
ftr-443	454	19	than	than	ADP
ftr-443	454	20	20	20	NUM
ftr-443	454	21	%	%	NOUN
ftr-443	454	22	of	of	ADP
ftr-443	454	23	the	the	DET
ftr-443	454	24	qsub	qsub	PROPN
ftr-443	454	25	's	's	PART
ftr-443	454	26	stock	stock	NOUN
ftr-443	454	27	is	be	AUX
ftr-443	454	28	transferred	transfer	VERB
ftr-443	454	29	out	out	ADV
ftr-443	454	30	,	,	PUNCT
ftr-443	454	31	either	either	CCONJ
ftr-443	454	32	by	by	ADP
ftr-443	454	33	a	a	DET
ftr-443	454	34	distribution	distribution	NOUN
ftr-443	454	35	of	of	ADP
ftr-443	454	36	subsidiary	subsidiary	ADJ
ftr-443	454	37	stock	stock	NOUN
ftr-443	454	38	to	to	ADP
ftr-443	454	39	shareholders	shareholder	NOUN
ftr-443	454	40	or	or	CCONJ
ftr-443	454	41	sale	sale	NOUN
ftr-443	454	42	to	to	ADP
ftr-443	454	43	third	third	ADJ
ftr-443	454	44	party	party	NOUN
ftr-443	454	45	.	.	PUNCT
ftr-443	454	46	'	'	PUNCT
ftr-443	455	1	this	this	PRON
ftr-443	455	2	would	would	AUX
ftr-443	455	3	cause	cause	VERB
ftr-443	455	4	all	all	PRON
ftr-443	455	5	of	of	ADP
ftr-443	455	6	the	the	DET
ftr-443	455	7	former	former	ADJ
ftr-443	455	8	qsub	qsub	PROPN
ftr-443	455	9	's	's	PART
ftr-443	455	10	asset	asset	NOUN
ftr-443	455	11	value	value	NOUN
ftr-443	455	12	in	in	ADP
ftr-443	455	13	§	§	PROPN
ftr-443	455	14	1.1502	1.1502	NUM
ftr-443	455	15	-	-	SYM
ftr-443	455	16	13(a)(1)(ii	13(a)(1)(ii	NUM
ftr-443	455	17	)	)	PUNCT
ftr-443	455	18	(	(	PUNCT
ftr-443	455	19	withdrawn	withdraw	VERB
ftr-443	455	20	by	by	ADP
ftr-443	455	21	t.d	t.d	PROPN
ftr-443	455	22	.	.	PROPN
ftr-443	455	23	8597	8597	NUM
ftr-443	455	24	,	,	PUNCT
ftr-443	455	25	60	60	NUM
ftr-443	455	26	fed	feed	VERB
ftr-443	455	27	.	.	PUNCT
ftr-443	456	1	reg	reg	PROPN
ftr-443	456	2	.	.	PROPN
ftr-443	457	1	36,671	36,671	NUM
ftr-443	457	2	(	(	PUNCT
ftr-443	457	3	1995	1995	NUM
ftr-443	457	4	)	)	PUNCT
ftr-443	457	5	)	)	PUNCT
ftr-443	457	6	.	.	PUNCT
ftr-443	458	1	the	the	DET
ftr-443	458	2	result	result	NOUN
ftr-443	458	3	is	be	AUX
ftr-443	458	4	otherwise	otherwise	ADV
ftr-443	458	5	under	under	ADP
ftr-443	458	6	the	the	DET
ftr-443	458	7	new	new	ADJ
ftr-443	458	8	(	(	PUNCT
ftr-443	458	9	accelerated	accelerated	ADJ
ftr-443	458	10	and	and	CCONJ
ftr-443	458	11	matching	matching	NOUN
ftr-443	458	12	)	)	PUNCT
ftr-443	458	13	intercompany	intercompany	NOUN
ftr-443	458	14	rules	rule	NOUN
ftr-443	458	15	.	.	PUNCT
ftr-443	459	1	see	see	VERB
ftr-443	459	2	regs	reg	NOUN
ftr-443	459	3	.	.	PUNCT
ftr-443	460	1	§	§	PROPN
ftr-443	460	2	1.150213(ft(5)(i	1.150213(ft(5)(i	NUM
ftr-443	460	3	)	)	PUNCT
ftr-443	460	4	.	.	PUNCT
ftr-443	461	1	56	56	NUM
ftr-443	461	2	.	.	X
ftr-443	461	3	see	see	VERB
ftr-443	461	4	regs	reg	NOUN
ftr-443	461	5	.	.	PUNCT
ftr-443	462	1	§	§	PROPN
ftr-443	462	2	1.1502	1.1502	NUM
ftr-443	462	3	-	-	SYM
ftr-443	462	4	19(a	19(a	NUM
ftr-443	462	5	)	)	PUNCT
ftr-443	462	6	,	,	PUNCT
ftr-443	462	7	(	(	PUNCT
ftr-443	462	8	b	b	NOUN
ftr-443	462	9	)	)	PUNCT
ftr-443	462	10	.	.	PUNCT
ftr-443	463	1	57	57	NUM
ftr-443	463	2	.	.	PUNCT
ftr-443	464	1	see	see	VERB
ftr-443	464	2	regs	reg	NOUN
ftr-443	464	3	.	.	PUNCT
ftr-443	465	1	§	§	PROPN
ftr-443	465	2	1.1502	1.1502	NUM
ftr-443	465	3	-	-	SYM
ftr-443	465	4	19	19	NUM
ftr-443	465	5	;	;	PUNCT
ftr-443	465	6	textron	textron	PROPN
ftr-443	465	7	,	,	PUNCT
ftr-443	465	8	inc	inc	PROPN
ftr-443	465	9	.	.	PROPN
ftr-443	465	10	v.	v.	PROPN
ftr-443	465	11	united	united	PROPN
ftr-443	465	12	states	states	PROPN
ftr-443	465	13	,	,	PUNCT
ftr-443	465	14	561	561	NUM
ftr-443	465	15	f.2d	f.2d	NOUN
ftr-443	465	16	1023	1023	NUM
ftr-443	465	17	(	(	PUNCT
ftr-443	465	18	1st	1st	ADJ
ftr-443	465	19	cir	cir	NOUN
ftr-443	465	20	.	.	PUNCT
ftr-443	465	21	1977	1977	NUM
ftr-443	465	22	)	)	PUNCT
ftr-443	465	23	.	.	PUNCT
ftr-443	466	1	compare	compare	PROPN
ftr-443	466	2	norman	norman	PROPN
ftr-443	466	3	scott	scott	PROPN
ftr-443	466	4	,	,	PUNCT
ftr-443	466	5	inc	inc	PROPN
ftr-443	466	6	.	.	PROPN
ftr-443	467	1	v.	v.	PROPN
ftr-443	467	2	commissioner	commissioner	PROPN
ftr-443	467	3	,	,	PUNCT
ftr-443	467	4	48	48	NUM
ftr-443	467	5	t.c	t.c	PROPN
ftr-443	467	6	.	.	PROPN
ftr-443	467	7	598	598	NUM
ftr-443	467	8	(	(	PUNCT
ftr-443	467	9	1967	1967	NUM
ftr-443	467	10	)	)	PUNCT
ftr-443	467	11	;	;	PUNCT
ftr-443	467	12	rev	rev	PROPN
ftr-443	467	13	.	.	PROPN
ftr-443	468	1	rul	rul	PROPN
ftr-443	468	2	.	.	PUNCT
ftr-443	469	1	68	68	NUM
ftr-443	469	2	-	-	SYM
ftr-443	469	3	602	602	NUM
ftr-443	469	4	,	,	PUNCT
ftr-443	469	5	1968	1968	NUM
ftr-443	469	6	-	-	SYM
ftr-443	469	7	2	2	NUM
ftr-443	469	8	c.b	c.b	PROPN
ftr-443	469	9	.	.	PROPN
ftr-443	469	10	135	135	NUM
ftr-443	469	11	.	.	X
ftr-443	469	12	58	58	NUM
ftr-443	469	13	.	.	PUNCT
ftr-443	470	1	irc	irc	PROPN
ftr-443	470	2	§	§	PROPN
ftr-443	470	3	1361(b)(3)(c	1361(b)(3)(c	NUM
ftr-443	470	4	)	)	PUNCT
ftr-443	470	5	.	.	PUNCT
ftr-443	471	1	59	59	NUM
ftr-443	471	2	.	.	PUNCT
ftr-443	471	3	see	see	VERB
ftr-443	471	4	irc	irc	PROPN
ftr-443	471	5	§	§	PROPN
ftr-443	471	6	1361(b)(3)(d	1361(b)(3)(d	NUM
ftr-443	471	7	)	)	PUNCT
ftr-443	471	8	;	;	PUNCT
ftr-443	471	9	see	see	VERB
ftr-443	471	10	generally	generally	ADV
ftr-443	471	11	august	august	PROPN
ftr-443	471	12	et	et	PROPN
ftr-443	471	13	al	al	PROPN
ftr-443	471	14	.	.	PROPN
ftr-443	471	15	,	,	PUNCT
ftr-443	471	16	supra	supra	PROPN
ftr-443	471	17	note	note	PROPN
ftr-443	471	18	54	54	NUM
ftr-443	471	19	.	.	PUNCT
ftr-443	471	20	60	60	NUM
ftr-443	471	21	.	.	PUNCT
ftr-443	472	1	compare	compare	VERB
ftr-443	472	2	american	american	ADJ
ftr-443	472	3	bantam	bantam	PROPN
ftr-443	472	4	car	car	NOUN
ftr-443	472	5	.	.	PUNCT
ftr-443	473	1	co.	co.	PROPN
ftr-443	474	1	v.	v.	PROPN
ftr-443	474	2	commissioner	commissioner	PROPN
ftr-443	474	3	,	,	PUNCT
ftr-443	474	4	11	11	NUM
ftr-443	474	5	t.c	t.c	PROPN
ftr-443	474	6	.	.	PROPN
ftr-443	474	7	397	397	NUM
ftr-443	474	8	(	(	PUNCT
ftr-443	474	9	1948	1948	NUM
ftr-443	474	10	)	)	PUNCT
ftr-443	474	11	,	,	PUNCT
ftr-443	474	12	aff'd	aff'd	NOUN
ftr-443	474	13	per	per	ADP
ftr-443	474	14	curiam	curiam	NOUN
ftr-443	474	15	,	,	PUNCT
ftr-443	474	16	177	177	NUM
ftr-443	474	17	f.2d	f.2d	SYM
ftr-443	474	18	513	513	NUM
ftr-443	474	19	(	(	PUNCT
ftr-443	474	20	3d	3d	PROPN
ftr-443	474	21	cir	cir	NOUN
ftr-443	474	22	.	.	PROPN
ftr-443	474	23	1949	1949	NUM
ftr-443	474	24	)	)	PUNCT
ftr-443	474	25	with	with	ADP
ftr-443	474	26	intermountain	intermountain	PROPN
ftr-443	474	27	lumber	lumber	PROPN
ftr-443	474	28	co.	co.	PROPN
ftr-443	474	29	v.	v.	ADP
ftr-443	474	30	commissioner	commissioner	PROPN
ftr-443	474	31	,	,	PUNCT
ftr-443	474	32	65	65	NUM
ftr-443	474	33	t.c	t.c	PROPN
ftr-443	474	34	.	.	PROPN
ftr-443	474	35	1025	1025	NUM
ftr-443	474	36	(	(	PUNCT
ftr-443	474	37	1976	1976	NUM
ftr-443	474	38	)	)	PUNCT
ftr-443	475	1	(	(	PUNCT
ftr-443	475	2	binding	bind	VERB
ftr-443	475	3	obligation	obligation	NOUN
ftr-443	475	4	to	to	PART
ftr-443	475	5	sell	sell	VERB
ftr-443	475	6	50	50	NUM
ftr-443	475	7	%	%	NOUN
ftr-443	475	8	of	of	ADP
ftr-443	475	9	stock	stock	NOUN
ftr-443	475	10	to	to	PART
ftr-443	475	11	underwriter	underwriter	NOUN
ftr-443	475	12	broke	break	VERB
ftr-443	475	13	80	80	NUM
ftr-443	475	14	%	%	NOUN
ftr-443	475	15	control	control	NOUN
ftr-443	475	16	requirement	requirement	NOUN
ftr-443	475	17	under	under	ADP
ftr-443	475	18	§	§	PROPN
ftr-443	475	19	351	351	NUM
ftr-443	475	20	)	)	PUNCT
ftr-443	475	21	.	.	PUNCT
ftr-443	476	1	see	see	VERB
ftr-443	476	2	also	also	ADV
ftr-443	476	3	bausch	bausch	PROPN
ftr-443	476	4	&	&	CCONJ
ftr-443	476	5	lomb	lomb	PROPN
ftr-443	476	6	,	,	PUNCT
ftr-443	476	7	supra	supra	PROPN
ftr-443	476	8	note	note	NOUN
ftr-443	476	9	53	53	NUM
ftr-443	476	10	.	.	PUNCT
ftr-443	477	1	recently	recently	ADV
ftr-443	477	2	issued	issue	VERB
ftr-443	477	3	proposed	propose	VERB
ftr-443	477	4	regulations	regulation	NOUN
ftr-443	477	5	confirm	confirm	VERB
ftr-443	477	6	the	the	DET
ftr-443	477	7	service	service	NOUN
ftr-443	477	8	's	's	PART
ftr-443	477	9	hard	hard	ADJ
ftr-443	477	10	line	line	NOUN
ftr-443	477	11	position	position	NOUN
ftr-443	477	12	.	.	PUNCT
ftr-443	478	1	see	see	VERB
ftr-443	478	2	august	august	PROPN
ftr-443	478	3	&	&	CCONJ
ftr-443	478	4	rubinger	rubinger	PROPN
ftr-443	478	5	,	,	PUNCT
ftr-443	478	6	supra	supra	PROPN
ftr-443	478	7	note	note	NOUN
ftr-443	478	8	54	54	NUM
ftr-443	478	9	.	.	PUNCT
ftr-443	478	10	1999	1999	NUM
ftr-443	478	11	]	]	PUNCT
ftr-443	479	1	florida	florida	PROPN
ftr-443	479	2	tax	tax	PROPN
ftr-443	479	3	review	review	NOUN
ftr-443	479	4	excess	excess	NOUN
ftr-443	479	5	of	of	ADP
ftr-443	479	6	adjusted	adjusted	ADJ
ftr-443	479	7	basis	basis	NOUN
ftr-443	479	8	to	to	PART
ftr-443	479	9	be	be	AUX
ftr-443	479	10	fully	fully	ADV
ftr-443	479	11	taxable	taxable	ADJ
ftr-443	479	12	to	to	ADP
ftr-443	479	13	the	the	DET
ftr-443	479	14	transferor	transferor	NOUN
ftr-443	479	15	s	s	PART
ftr-443	479	16	corporation	corporation	NOUN
ftr-443	479	17	which	which	PRON
ftr-443	479	18	gain	gain	VERB
ftr-443	479	19	would	would	AUX
ftr-443	479	20	passthrough	passthrough	VERB
ftr-443	479	21	to	to	ADP
ftr-443	479	22	its	its	PRON
ftr-443	479	23	shareholders	shareholder	NOUN
ftr-443	479	24	.	.	PUNCT
ftr-443	480	1	depreciable	depreciable	ADJ
ftr-443	480	2	capital	capital	NOUN
ftr-443	480	3	gain	gain	NOUN
ftr-443	480	4	property	property	NOUN
ftr-443	480	5	deemed	deem	VERB
ftr-443	480	6	transferred	transfer	VERB
ftr-443	480	7	to	to	ADP
ftr-443	480	8	the	the	DET
ftr-443	480	9	former	former	ADJ
ftr-443	480	10	qsub	qsub	PROPN
ftr-443	480	11	would	would	AUX
ftr-443	480	12	generate	generate	VERB
ftr-443	480	13	ordinary	ordinary	ADJ
ftr-443	480	14	income	income	NOUN
ftr-443	480	15	.	.	PUNCT
ftr-443	481	1	6	6	NUM
ftr-443	481	2	.	.	X
ftr-443	481	3	tax	tax	NOUN
ftr-443	481	4	rate	rate	NOUN
ftr-443	481	5	comparison.-the	comparison.-the	PROPN
ftr-443	481	6	present	present	ADJ
ftr-443	481	7	maximum	maximum	ADJ
ftr-443	481	8	marginal	marginal	ADJ
ftr-443	481	9	income	income	NOUN
ftr-443	481	10	tax	tax	NOUN
ftr-443	481	11	rate	rate	NOUN
ftr-443	481	12	of	of	ADP
ftr-443	481	13	39.6	39.6	NUM
ftr-443	481	14	%	%	NOUN
ftr-443	481	15	on	on	ADP
ftr-443	481	16	an	an	DET
ftr-443	481	17	llc	llc	NOUN
ftr-443	481	18	member	member	NOUN
ftr-443	481	19	who	who	PRON
ftr-443	481	20	is	be	AUX
ftr-443	481	21	an	an	DET
ftr-443	481	22	individual	individual	NOUN
ftr-443	481	23	is	be	AUX
ftr-443	481	24	the	the	DET
ftr-443	481	25	same	same	ADJ
ftr-443	481	26	as	as	ADP
ftr-443	481	27	that	that	PRON
ftr-443	481	28	for	for	ADP
ftr-443	481	29	an	an	DET
ftr-443	481	30	s	s	NOUN
ftr-443	481	31	shareholder	shareholder	NOUN
ftr-443	481	32	.	.	PUNCT
ftr-443	482	1	in	in	ADP
ftr-443	482	2	contrast	contrast	NOUN
ftr-443	482	3	,	,	PUNCT
ftr-443	482	4	the	the	DET
ftr-443	482	5	maximum	maximum	ADJ
ftr-443	482	6	rate	rate	NOUN
ftr-443	482	7	of	of	ADP
ftr-443	482	8	federal	federal	ADJ
ftr-443	482	9	income	income	NOUN
ftr-443	482	10	tax	tax	NOUN
ftr-443	482	11	on	on	ADP
ftr-443	482	12	a	a	DET
ftr-443	482	13	c	c	NOUN
ftr-443	482	14	corporation	corporation	NOUN
ftr-443	482	15	is	be	AUX
ftr-443	482	16	34	34	NUM
ftr-443	482	17	%	%	NOUN
ftr-443	482	18	(	(	PUNCT
ftr-443	482	19	35	35	NUM
ftr-443	482	20	%	%	NOUN
ftr-443	482	21	for	for	ADP
ftr-443	482	22	personal	personal	ADJ
ftr-443	482	23	service	service	NOUN
ftr-443	482	24	corporations	corporation	NOUN
ftr-443	482	25	and	and	CCONJ
ftr-443	482	26	corporations	corporation	NOUN
ftr-443	482	27	with	with	ADP
ftr-443	482	28	taxable	taxable	ADJ
ftr-443	482	29	income	income	NOUN
ftr-443	482	30	exceeding	exceed	VERB
ftr-443	482	31	$	$	SYM
ftr-443	482	32	10,000,000	10,000,000	NUM
ftr-443	482	33	)	)	PUNCT
ftr-443	482	34	.	.	PUNCT
ftr-443	483	1	s	s	VERB
ftr-443	484	1	shareholders	shareholder	NOUN
ftr-443	484	2	,	,	PUNCT
ftr-443	484	3	however	however	ADV
ftr-443	484	4	,	,	PUNCT
ftr-443	484	5	enjoy	enjoy	VERB
ftr-443	484	6	a	a	DET
ftr-443	484	7	slight	slight	ADJ
ftr-443	484	8	advantage	advantage	NOUN
ftr-443	484	9	in	in	ADP
ftr-443	484	10	the	the	DET
ftr-443	484	11	employment	employment	NOUN
ftr-443	484	12	tax	tax	NOUN
ftr-443	484	13	area	area	NOUN
ftr-443	484	14	.	.	PUNCT
ftr-443	485	1	the	the	DET
ftr-443	485	2	combination	combination	NOUN
ftr-443	485	3	of	of	ADP
ftr-443	485	4	fica	fica	PROPN
ftr-443	485	5	and	and	CCONJ
ftr-443	485	6	hospital	hospital	NOUN
ftr-443	485	7	insurance	insurance	NOUN
ftr-443	485	8	taxes	taxis	NOUN
ftr-443	485	9	for	for	ADP
ftr-443	485	10	employees	employee	NOUN
ftr-443	485	11	,	,	PUNCT
ftr-443	485	12	including	include	VERB
ftr-443	485	13	s	s	PRON
ftr-443	485	14	employee	employee	NOUN
ftr-443	485	15	/	/	SYM
ftr-443	485	16	shareholders	shareholder	NOUN
ftr-443	485	17	,	,	PUNCT
ftr-443	485	18	is	be	AUX
ftr-443	485	19	15.3	15.3	NUM
ftr-443	485	20	%	%	NOUN
ftr-443	485	21	on	on	ADP
ftr-443	485	22	the	the	DET
ftr-443	485	23	first	first	ADJ
ftr-443	485	24	$	$	SYM
ftr-443	485	25	61,200	61,200	NUM
ftr-443	485	26	on	on	ADP
ftr-443	485	27	wages	wage	NOUN
ftr-443	485	28	,	,	PUNCT
ftr-443	485	29	but	but	CCONJ
ftr-443	485	30	the	the	DET
ftr-443	485	31	hospital	hospital	NOUN
ftr-443	485	32	insurance	insurance	NOUN
ftr-443	485	33	tax	tax	NOUN
ftr-443	485	34	of	of	ADP
ftr-443	485	35	2.9	2.9	NUM
ftr-443	485	36	percent	percent	NOUN
ftr-443	485	37	also	also	ADV
ftr-443	485	38	applies	apply	VERB
ftr-443	485	39	to	to	ADP
ftr-443	485	40	compensation	compensation	NOUN
ftr-443	485	41	in	in	ADP
ftr-443	485	42	excess	excess	NOUN
ftr-443	485	43	of	of	ADP
ftr-443	485	44	this	this	DET
ftr-443	485	45	dollar	dollar	NOUN
ftr-443	485	46	ceiling.6	ceiling.6	PROPN
ftr-443	485	47	by	by	ADP
ftr-443	485	48	setting	set	VERB
ftr-443	485	49	a	a	DET
ftr-443	485	50	reasonable	reasonable	ADJ
ftr-443	485	51	salary	salary	NOUN
ftr-443	485	52	,	,	PUNCT
ftr-443	485	53	in	in	ADP
ftr-443	485	54	this	this	DET
ftr-443	485	55	context	context	NOUN
ftr-443	485	56	one	one	NOUN
ftr-443	485	57	that	that	PRON
ftr-443	485	58	is	be	AUX
ftr-443	485	59	not	not	PART
ftr-443	485	60	unreasonably	unreasonably	ADV
ftr-443	485	61	too	too	ADV
ftr-443	485	62	low	low	ADJ
ftr-443	485	63	,	,	PUNCT
ftr-443	485	64	an	an	DET
ftr-443	485	65	s	s	NOUN
ftr-443	485	66	shareholder	shareholder	NOUN
ftr-443	485	67	can	can	AUX
ftr-443	485	68	avoid	avoid	VERB
ftr-443	485	69	these	these	DET
ftr-443	485	70	employment	employment	NOUN
ftr-443	485	71	taxes	taxis	NOUN
ftr-443	485	72	on	on	ADP
ftr-443	485	73	the	the	DET
ftr-443	485	74	shareholder	shareholder	NOUN
ftr-443	485	75	's	's	PART
ftr-443	485	76	share	share	NOUN
ftr-443	485	77	of	of	ADP
ftr-443	485	78	the	the	DET
ftr-443	485	79	corporation	corporation	NOUN
ftr-443	485	80	's	's	PART
ftr-443	485	81	income	income	NOUN
ftr-443	485	82	after	after	ADP
ftr-443	485	83	salaries	salary	NOUN
ftr-443	485	84	.	.	PUNCT
ftr-443	486	1	under	under	ADP
ftr-443	486	2	section	section	NOUN
ftr-443	486	3	1402(a	1402(a	NUM
ftr-443	486	4	)	)	PUNCT
ftr-443	486	5	,	,	PUNCT
ftr-443	486	6	an	an	DET
ftr-443	486	7	individual	individual	ADJ
ftr-443	486	8	partner	partner	NOUN
ftr-443	486	9	's	's	PART
ftr-443	486	10	net	net	ADJ
ftr-443	486	11	earnings	earning	NOUN
ftr-443	486	12	from	from	ADP
ftr-443	486	13	selfemployment	selfemployment	NOUN
ftr-443	486	14	,	,	PUNCT
ftr-443	486	15	which	which	PRON
ftr-443	486	16	is	be	AUX
ftr-443	486	17	also	also	ADV
ftr-443	486	18	taxed	tax	VERB
ftr-443	486	19	at	at	ADP
ftr-443	486	20	a	a	DET
ftr-443	486	21	rate	rate	NOUN
ftr-443	486	22	of	of	ADP
ftr-443	486	23	15.3	15.3	NUM
ftr-443	486	24	%	%	NOUN
ftr-443	486	25	,	,	PUNCT
ftr-443	486	26	includes	include	VERB
ftr-443	486	27	the	the	DET
ftr-443	486	28	partner	partner	NOUN
ftr-443	486	29	's	's	PART
ftr-443	486	30	entire	entire	ADJ
ftr-443	486	31	distributive	distributive	ADJ
ftr-443	486	32	share	share	NOUN
ftr-443	486	33	of	of	ADP
ftr-443	486	34	partnership	partnership	NOUN
ftr-443	486	35	income	income	NOUN
ftr-443	486	36	unless	unless	SCONJ
ftr-443	486	37	the	the	DET
ftr-443	486	38	individual	individual	NOUN
ftr-443	486	39	is	be	AUX
ftr-443	486	40	a	a	DET
ftr-443	486	41	limited	limited	ADJ
ftr-443	486	42	partner.62	partner.62	NOUN
ftr-443	486	43	it	it	PRON
ftr-443	486	44	is	be	AUX
ftr-443	486	45	not	not	PART
ftr-443	486	46	possible	possible	ADJ
ftr-443	486	47	to	to	PART
ftr-443	486	48	restrict	restrict	VERB
ftr-443	486	49	the	the	DET
ftr-443	486	50	amount	amount	NOUN
ftr-443	486	51	subject	subject	ADJ
ftr-443	486	52	to	to	ADP
ftr-443	486	53	selfemployment	selfemployment	NOUN
ftr-443	486	54	taxes	taxis	NOUN
ftr-443	486	55	to	to	ADP
ftr-443	486	56	amounts	amount	NOUN
ftr-443	486	57	designated	designate	VERB
ftr-443	486	58	as	as	ADP
ftr-443	486	59	wages	wage	NOUN
ftr-443	486	60	.	.	PUNCT
ftr-443	487	1	a	a	DET
ftr-443	487	2	limited	limited	ADJ
ftr-443	487	3	partner	partner	NOUN
ftr-443	487	4	's	's	PART
ftr-443	487	5	distributive	distributive	ADJ
ftr-443	487	6	share	share	NOUN
ftr-443	487	7	of	of	ADP
ftr-443	487	8	income	income	NOUN
ftr-443	487	9	(	(	PUNCT
ftr-443	487	10	or	or	CCONJ
ftr-443	487	11	loss	loss	NOUN
ftr-443	487	12	)	)	PUNCT
ftr-443	487	13	is	be	AUX
ftr-443	487	14	exempt	exempt	ADJ
ftr-443	487	15	from	from	ADP
ftr-443	487	16	self	self	NOUN
ftr-443	487	17	-	-	PUNCT
ftr-443	487	18	employment	employment	NOUN
ftr-443	487	19	tax	tax	NOUN
ftr-443	487	20	,	,	PUNCT
ftr-443	487	21	but	but	CCONJ
ftr-443	487	22	a	a	DET
ftr-443	487	23	guaranteed	guarantee	VERB
ftr-443	487	24	payment	payment	NOUN
ftr-443	487	25	to	to	ADP
ftr-443	487	26	a	a	DET
ftr-443	487	27	limited	limited	ADJ
ftr-443	487	28	partner	partner	NOUN
ftr-443	487	29	for	for	ADP
ftr-443	487	30	services	service	NOUN
ftr-443	487	31	is	be	AUX
ftr-443	487	32	within	within	ADP
ftr-443	487	33	the	the	DET
ftr-443	487	34	selfemployment	selfemployment	NOUN
ftr-443	487	35	tax	tax	NOUN
ftr-443	487	36	base	base	NOUN
ftr-443	487	37	.	.	PUNCT
ftr-443	488	1	under	under	ADP
ftr-443	488	2	recently	recently	ADV
ftr-443	488	3	revised	revise	VERB
ftr-443	488	4	proposed	propose	VERB
ftr-443	488	5	regulations,63	regulations,63	NOUN
ftr-443	488	6	an	an	DET
ftr-443	488	7	individual	individual	ADJ
ftr-443	488	8	investor	investor	NOUN
ftr-443	488	9	in	in	ADP
ftr-443	488	10	a	a	DET
ftr-443	488	11	passthrough	passthrough	NOUN
ftr-443	488	12	entity	entity	NOUN
ftr-443	488	13	,	,	PUNCT
ftr-443	488	14	including	include	VERB
ftr-443	488	15	an	an	DET
ftr-443	488	16	llc	llc	NOUN
ftr-443	488	17	,	,	PUNCT
ftr-443	488	18	will	will	AUX
ftr-443	488	19	be	be	AUX
ftr-443	488	20	considered	consider	VERB
ftr-443	488	21	a	a	DET
ftr-443	488	22	limited	limited	ADJ
ftr-443	488	23	partner	partner	NOUN
ftr-443	488	24	for	for	ADP
ftr-443	488	25	self	self	NOUN
ftr-443	488	26	-	-	PUNCT
ftr-443	488	27	employment	employment	NOUN
ftr-443	488	28	tax	tax	NOUN
ftr-443	488	29	purposes	purpose	NOUN
ftr-443	488	30	unless	unless	SCONJ
ftr-443	488	31	the	the	DET
ftr-443	488	32	individual	individual	NOUN
ftr-443	488	33	(	(	PUNCT
ftr-443	488	34	1	1	NUM
ftr-443	488	35	)	)	PUNCT
ftr-443	488	36	is	be	AUX
ftr-443	488	37	61	61	NUM
ftr-443	488	38	.	.	PUNCT
ftr-443	489	1	cf	cf	NOUN
ftr-443	489	2	.	.	PUNCT
ftr-443	490	1	irc	irc	PROPN
ftr-443	490	2	§	§	PROPN
ftr-443	490	3	§	§	PROPN
ftr-443	490	4	3101(a	3101(a	NOUN
ftr-443	490	5	)	)	PUNCT
ftr-443	490	6	,	,	PUNCT
ftr-443	490	7	(	(	PUNCT
ftr-443	490	8	b	b	NOUN
ftr-443	490	9	)	)	PUNCT
ftr-443	490	10	;	;	PUNCT
ftr-443	490	11	3111(a	3111(a	NUM
ftr-443	490	12	)	)	PUNCT
ftr-443	490	13	,	,	PUNCT
ftr-443	490	14	(	(	PUNCT
ftr-443	490	15	b	b	NOUN
ftr-443	490	16	)	)	PUNCT
ftr-443	490	17	.	.	PUNCT
ftr-443	491	1	but	but	CCONJ
ftr-443	491	2	see	see	VERB
ftr-443	491	3	rev	rev	PROPN
ftr-443	491	4	.	.	PROPN
ftr-443	491	5	rul	rul	PROPN
ftr-443	491	6	.	.	PUNCT
ftr-443	492	1	59	59	NUM
ftr-443	492	2	-	-	SYM
ftr-443	492	3	221	221	NUM
ftr-443	492	4	,	,	PUNCT
ftr-443	492	5	1959	1959	NUM
ftr-443	492	6	-	-	SYM
ftr-443	492	7	1	1	NUM
ftr-443	492	8	c.b	c.b	PROPN
ftr-443	492	9	.	.	PROPN
ftr-443	492	10	225	225	NUM
ftr-443	492	11	(	(	PUNCT
ftr-443	492	12	shareholders	shareholder	NOUN
ftr-443	492	13	in	in	ADP
ftr-443	492	14	s	s	PART
ftr-443	492	15	corporations	corporation	NOUN
ftr-443	492	16	not	not	PART
ftr-443	492	17	subject	subject	ADJ
ftr-443	492	18	to	to	ADP
ftr-443	492	19	self	self	NOUN
ftr-443	492	20	-	-	PUNCT
ftr-443	492	21	employment	employment	NOUN
ftr-443	492	22	tax	tax	NOUN
ftr-443	492	23	on	on	ADP
ftr-443	492	24	share	share	NOUN
ftr-443	492	25	of	of	ADP
ftr-443	492	26	undistributed	undistributed	ADJ
ftr-443	492	27	income	income	NOUN
ftr-443	492	28	)	)	PUNCT
ftr-443	492	29	.	.	PUNCT
ftr-443	493	1	62	62	NUM
ftr-443	493	2	.	.	PUNCT
ftr-443	494	1	exceptions	exception	NOUN
ftr-443	494	2	are	be	AUX
ftr-443	494	3	also	also	ADV
ftr-443	494	4	provided	provide	VERB
ftr-443	494	5	for	for	ADP
ftr-443	494	6	rental	rental	ADJ
ftr-443	494	7	income	income	NOUN
ftr-443	494	8	,	,	PUNCT
ftr-443	494	9	interest	interest	NOUN
ftr-443	494	10	and	and	CCONJ
ftr-443	494	11	dividends	dividend	NOUN
ftr-443	494	12	,	,	PUNCT
ftr-443	494	13	and	and	CCONJ
ftr-443	494	14	capital	capital	NOUN
ftr-443	494	15	gains	gain	NOUN
ftr-443	494	16	and	and	CCONJ
ftr-443	494	17	losses	loss	NOUN
ftr-443	494	18	.	.	PUNCT
ftr-443	495	1	irc	irc	PROPN
ftr-443	495	2	§	§	PROPN
ftr-443	495	3	§	§	PROPN
ftr-443	495	4	1402(a)(1	1402(a)(1	NUM
ftr-443	495	5	)	)	PUNCT
ftr-443	495	6	,	,	PUNCT
ftr-443	495	7	(	(	PUNCT
ftr-443	495	8	2	2	NUM
ftr-443	495	9	)	)	PUNCT
ftr-443	495	10	,	,	PUNCT
ftr-443	495	11	(	(	PUNCT
ftr-443	495	12	3	3	NUM
ftr-443	495	13	)	)	PUNCT
ftr-443	495	14	.	.	PUNCT
ftr-443	496	1	63	63	NUM
ftr-443	496	2	.	.	X
ftr-443	496	3	reg-209824	reg-209824	NOUN
ftr-443	496	4	-	-	PUNCT
ftr-443	496	5	96	96	NUM
ftr-443	496	6	,	,	PUNCT
ftr-443	496	7	62	62	NUM
ftr-443	496	8	fed	feed	VERB
ftr-443	496	9	.	.	PUNCT
ftr-443	497	1	reg	reg	PROPN
ftr-443	497	2	.	.	PROPN
ftr-443	498	1	1,702	1,702	NUM
ftr-443	498	2	(	(	PUNCT
ftr-443	498	3	jan	jan	PROPN
ftr-443	498	4	.	.	PROPN
ftr-443	498	5	13	13	NUM
ftr-443	498	6	,	,	PUNCT
ftr-443	498	7	1997	1997	NUM
ftr-443	498	8	)	)	PUNCT
ftr-443	498	9	,	,	PUNCT
ftr-443	498	10	which	which	PRON
ftr-443	498	11	superseded	supersede	VERB
ftr-443	498	12	regulations	regulation	NOUN
ftr-443	498	13	proposed	propose	VERB
ftr-443	498	14	in	in	ADP
ftr-443	498	15	1995	1995	NUM
ftr-443	498	16	.	.	PUNCT
ftr-443	499	1	1995	1995	NUM
ftr-443	499	2	-	-	SYM
ftr-443	499	3	1	1	NUM
ftr-443	499	4	c.b	c.b	PROPN
ftr-443	499	5	.	.	PROPN
ftr-443	499	6	853	853	NUM
ftr-443	499	7	.	.	PUNCT
ftr-443	500	1	the	the	DET
ftr-443	500	2	revised	revised	ADJ
ftr-443	500	3	regulations	regulation	NOUN
ftr-443	500	4	are	be	AUX
ftr-443	500	5	effective	effective	ADJ
ftr-443	500	6	for	for	ADP
ftr-443	500	7	the	the	DET
ftr-443	500	8	first	first	ADJ
ftr-443	500	9	taxable	taxable	ADJ
ftr-443	500	10	year	year	NOUN
ftr-443	500	11	of	of	ADP
ftr-443	500	12	the	the	DET
ftr-443	500	13	member	member	NOUN
ftr-443	500	14	or	or	CCONJ
ftr-443	500	15	partner	partner	NOUN
ftr-443	500	16	beginning	begin	VERB
ftr-443	500	17	after	after	SCONJ
ftr-443	500	18	they	they	PRON
ftr-443	500	19	are	be	AUX
ftr-443	500	20	published	publish	VERB
ftr-443	500	21	as	as	ADP
ftr-443	500	22	final	final	ADJ
ftr-443	500	23	regulations	regulation	NOUN
ftr-443	500	24	.	.	PUNCT
ftr-443	501	1	see	see	VERB
ftr-443	501	2	i	i	PRON
ftr-443	501	3	d.	d.	PROPN
ftr-443	501	4	under	under	ADP
ftr-443	501	5	the	the	DET
ftr-443	501	6	earlier	early	ADV
ftr-443	501	7	proposed	propose	VERB
ftr-443	501	8	regulations	regulation	NOUN
ftr-443	501	9	,	,	PUNCT
ftr-443	501	10	an	an	DET
ftr-443	501	11	individual	individual	ADJ
ftr-443	501	12	member	member	NOUN
ftr-443	501	13	of	of	ADP
ftr-443	501	14	an	an	DET
ftr-443	501	15	llc	llc	NOUN
ftr-443	501	16	was	be	AUX
ftr-443	501	17	treated	treat	VERB
ftr-443	501	18	as	as	ADP
ftr-443	501	19	a	a	DET
ftr-443	501	20	limited	limited	ADJ
ftr-443	501	21	partner	partner	NOUN
ftr-443	501	22	for	for	ADP
ftr-443	501	23	self	self	NOUN
ftr-443	501	24	-	-	PUNCT
ftr-443	501	25	employment	employment	NOUN
ftr-443	501	26	tax	tax	NOUN
ftr-443	501	27	purposes	purpose	NOUN
ftr-443	501	28	if	if	SCONJ
ftr-443	501	29	the	the	DET
ftr-443	501	30	member	member	NOUN
ftr-443	501	31	(	(	PUNCT
ftr-443	501	32	1	1	X
ftr-443	501	33	)	)	PUNCT
ftr-443	501	34	did	do	AUX
ftr-443	501	35	not	not	PART
ftr-443	501	36	have	have	VERB
ftr-443	501	37	authority	authority	NOUN
ftr-443	501	38	to	to	PART
ftr-443	501	39	make	make	VERB
ftr-443	501	40	management	management	NOUN
ftr-443	501	41	decisions	decision	NOUN
ftr-443	501	42	and	and	CCONJ
ftr-443	501	43	(	(	PUNCT
ftr-443	501	44	2	2	X
ftr-443	501	45	)	)	PUNCT
ftr-443	501	46	would	would	AUX
ftr-443	501	47	have	have	AUX
ftr-443	501	48	been	be	AUX
ftr-443	501	49	a	a	DET
ftr-443	501	50	limited	limited	ADJ
ftr-443	501	51	partner	partner	NOUN
ftr-443	501	52	under	under	ADP
ftr-443	501	53	the	the	DET
ftr-443	501	54	state	state	NOUN
ftr-443	501	55	in	in	ADP
ftr-443	501	56	which	which	PRON
ftr-443	501	57	the	the	DET
ftr-443	501	58	llc	llc	PROPN
ftr-443	501	59	was	be	AUX
ftr-443	501	60	organized	organize	VERB
ftr-443	501	61	had	have	AUX
ftr-443	501	62	the	the	DET
ftr-443	501	63	llc	llc	PROPN
ftr-443	501	64	instead	instead	ADV
ftr-443	501	65	been	be	AUX
ftr-443	501	66	formed	form	VERB
ftr-443	501	67	as	as	ADP
ftr-443	501	68	a	a	DET
ftr-443	501	69	limited	limited	ADJ
ftr-443	501	70	partnership	partnership	NOUN
ftr-443	501	71	.	.	PUNCT
ftr-443	502	1	see	see	VERB
ftr-443	502	2	also	also	ADV
ftr-443	502	3	priv	priv	VERB
ftr-443	502	4	.	.	PUNCT
ftr-443	503	1	ltr	ltr	PROPN
ftr-443	503	2	.	.	PUNCT
ftr-443	503	3	ruls	rul	NOUN
ftr-443	503	4	.	.	PUNCT
ftr-443	504	1	95	95	NUM
ftr-443	504	2	-	-	SYM
ftr-443	504	3	25	25	NUM
ftr-443	504	4	-	-	PUNCT
ftr-443	504	5	058	058	NUM
ftr-443	504	6	(	(	PUNCT
ftr-443	504	7	june	june	PROPN
ftr-443	504	8	23	23	NUM
ftr-443	504	9	,	,	PUNCT
ftr-443	504	10	1995	1995	NUM
ftr-443	504	11	)	)	PUNCT
ftr-443	504	12	,	,	PUNCT
ftr-443	504	13	94	94	NUM
ftr-443	504	14	-	-	SYM
ftr-443	504	15	45	45	NUM
ftr-443	504	16	-	-	PUNCT
ftr-443	504	17	024	024	NUM
ftr-443	504	18	(	(	PUNCT
ftr-443	504	19	nov	nov	PROPN
ftr-443	504	20	.	.	PROPN
ftr-443	504	21	10	10	NUM
ftr-443	504	22	,	,	PUNCT
ftr-443	504	23	1994	1994	NUM
ftr-443	504	24	)	)	PUNCT
ftr-443	504	25	,	,	PUNCT
ftr-443	504	26	94	94	NUM
ftr-443	504	27	-	-	SYM
ftr-443	504	28	23	23	NUM
ftr-443	504	29	-	-	SYM
ftr-443	504	30	018	018	NUM
ftr-443	504	31	(	(	PUNCT
ftr-443	504	32	june	june	PROPN
ftr-443	504	33	10	10	NUM
ftr-443	504	34	,	,	PUNCT
ftr-443	504	35	1994	1994	NUM
ftr-443	504	36	)	)	PUNCT
ftr-443	504	37	.	.	PUNCT
ftr-443	505	1	[	[	X
ftr-443	505	2	vol	vol	NOUN
ftr-443	505	3	4:3	4:3	NUM
ftr-443	505	4	benefits	benefit	NOUN
ftr-443	505	5	and	and	CCONJ
ftr-443	505	6	burdens	burden	NOUN
ftr-443	505	7	of	of	ADP
ftr-443	505	8	subchapter	subchapter	NOUN
ftr-443	505	9	s	s	PART
ftr-443	505	10	personally	personally	ADV
ftr-443	505	11	liable	liable	ADJ
ftr-443	505	12	for	for	ADP
ftr-443	505	13	entity	entity	NOUN
ftr-443	505	14	debts	debt	NOUN
ftr-443	505	15	by	by	ADP
ftr-443	505	16	reason	reason	NOUN
ftr-443	505	17	of	of	ADP
ftr-443	505	18	being	be	AUX
ftr-443	505	19	a	a	DET
ftr-443	505	20	partner	partner	NOUN
ftr-443	505	21	or	or	CCONJ
ftr-443	505	22	member,(2	member,(2	NOUN
ftr-443	505	23	)	)	PUNCT
ftr-443	505	24	has	have	VERB
ftr-443	505	25	authority	authority	NOUN
ftr-443	505	26	to	to	PART
ftr-443	505	27	contract	contract	VERB
ftr-443	505	28	on	on	ADP
ftr-443	505	29	behalf	behalf	NOUN
ftr-443	505	30	of	of	ADP
ftr-443	505	31	the	the	DET
ftr-443	505	32	entity	entity	NOUN
ftr-443	505	33	under	under	ADP
ftr-443	505	34	state	state	NOUN
ftr-443	505	35	law	law	NOUN
ftr-443	505	36	or	or	CCONJ
ftr-443	505	37	the	the	DET
ftr-443	505	38	governing	govern	VERB
ftr-443	505	39	instrument	instrument	NOUN
ftr-443	505	40	,	,	PUNCT
ftr-443	505	41	or	or	CCONJ
ftr-443	505	42	(	(	PUNCT
ftr-443	505	43	3	3	X
ftr-443	505	44	)	)	PUNCT
ftr-443	505	45	participates	participate	VERB
ftr-443	505	46	for	for	ADP
ftr-443	505	47	more	more	ADJ
ftr-443	505	48	than	than	ADP
ftr-443	505	49	500	500	NUM
ftr-443	505	50	hours	hour	NOUN
ftr-443	505	51	during	during	ADP
ftr-443	505	52	the	the	DET
ftr-443	505	53	taxable	taxable	ADJ
ftr-443	505	54	year	year	NOUN
ftr-443	505	55	in	in	ADP
ftr-443	505	56	the	the	DET
ftr-443	505	57	entity	entity	NOUN
ftr-443	505	58	's	's	PART
ftr-443	505	59	trade	trade	NOUN
ftr-443	505	60	or	or	CCONJ
ftr-443	505	61	business.6	business.6	PROPN
ftr-443	505	62	'	'	PART
ftr-443	505	63	the	the	DET
ftr-443	505	64	exclusion	exclusion	NOUN
ftr-443	505	65	for	for	ADP
ftr-443	505	66	limited	limited	ADJ
ftr-443	505	67	partners	partner	NOUN
ftr-443	505	68	could	could	AUX
ftr-443	505	69	not	not	PART
ftr-443	505	70	apply	apply	VERB
ftr-443	505	71	to	to	ADP
ftr-443	505	72	certain	certain	ADJ
ftr-443	505	73	"	"	PUNCT
ftr-443	505	74	service	service	NOUN
ftr-443	505	75	"	"	PUNCT
ftr-443	505	76	members	member	NOUN
ftr-443	505	77	or	or	CCONJ
ftr-443	505	78	partners.6	partners.6	PROPN
ftr-443	505	79	the	the	DET
ftr-443	505	80	proposed	propose	VERB
ftr-443	505	81	regulations	regulation	NOUN
ftr-443	505	82	acknowledge	acknowledge	VERB
ftr-443	505	83	,	,	PUNCT
ftr-443	505	84	somewhat	somewhat	ADV
ftr-443	505	85	favorably	favorably	ADV
ftr-443	505	86	,	,	PUNCT
ftr-443	505	87	that	that	SCONJ
ftr-443	505	88	an	an	DET
ftr-443	505	89	individual	individual	NOUN
ftr-443	505	90	may	may	AUX
ftr-443	505	91	bifurcate	bifurcate	VERB
ftr-443	505	92	his	his	PRON
ftr-443	505	93	or	or	CCONJ
ftr-443	505	94	her	her	PRON
ftr-443	505	95	distributive	distributive	ADJ
ftr-443	505	96	share	share	NOUN
ftr-443	505	97	of	of	ADP
ftr-443	505	98	llc	llc	PROPN
ftr-443	505	99	(	(	PUNCT
ftr-443	505	100	or	or	CCONJ
ftr-443	505	101	partnership	partnership	NOUN
ftr-443	505	102	)	)	PUNCT
ftr-443	505	103	income	income	NOUN
ftr-443	505	104	between	between	ADP
ftr-443	505	105	an	an	DET
ftr-443	505	106	"	"	PUNCT
ftr-443	505	107	active	active	ADJ
ftr-443	505	108	"	"	PUNCT
ftr-443	505	109	and	and	CCONJ
ftr-443	505	110	"	"	PUNCT
ftr-443	505	111	passive	passive	ADJ
ftr-443	505	112	"	"	PUNCT
ftr-443	505	113	class	class	NOUN
ftr-443	505	114	for	for	ADP
ftr-443	505	115	self	self	NOUN
ftr-443	505	116	-	-	PUNCT
ftr-443	505	117	employment	employment	NOUN
ftr-443	505	118	tax	tax	NOUN
ftr-443	505	119	purposes.6	purposes.6	PROPN
ftr-443	505	120	7	7	NUM
ftr-443	505	121	.	.	PUNCT
ftr-443	506	1	certainty	certainty	NOUN
ftr-443	506	2	of	of	ADP
ftr-443	506	3	tax	tax	NOUN
ftr-443	506	4	status.-despite	status.-despite	NOUN
ftr-443	506	5	recent	recent	ADJ
ftr-443	506	6	efforts	effort	NOUN
ftr-443	506	7	to	to	PART
ftr-443	506	8	reform	reform	VERB
ftr-443	506	9	subchapter	subchapter	NOUN
ftr-443	506	10	s	s	PART
ftr-443	506	11	,	,	PUNCT
ftr-443	506	12	its	its	PRON
ftr-443	506	13	tax	tax	NOUN
ftr-443	506	14	status	status	NOUN
ftr-443	506	15	as	as	ADP
ftr-443	506	16	a	a	DET
ftr-443	506	17	passthrough	passthrough	NOUN
ftr-443	506	18	entity	entity	NOUN
ftr-443	506	19	must	must	AUX
ftr-443	506	20	still	still	ADV
ftr-443	506	21	be	be	AUX
ftr-443	506	22	perfected	perfect	VERB
ftr-443	506	23	by	by	ADP
ftr-443	506	24	affirmative	affirmative	ADJ
ftr-443	506	25	act	act	NOUN
ftr-443	506	26	of	of	ADP
ftr-443	506	27	its	its	PRON
ftr-443	506	28	shareholders	shareholder	NOUN
ftr-443	506	29	and	and	CCONJ
ftr-443	506	30	then	then	ADV
ftr-443	506	31	carefully	carefully	ADV
ftr-443	506	32	monitored	monitor	VERB
ftr-443	506	33	and	and	CCONJ
ftr-443	506	34	maintained	maintain	VERB
ftr-443	506	35	throughout	throughout	ADP
ftr-443	506	36	its	its	PRON
ftr-443	506	37	existence	existence	NOUN
ftr-443	506	38	.	.	PUNCT
ftr-443	507	1	once	once	ADV
ftr-443	507	2	lost	lose	VERB
ftr-443	507	3	,	,	PUNCT
ftr-443	507	4	an	an	DET
ftr-443	507	5	s	s	NOUN
ftr-443	507	6	corporation	corporation	NOUN
ftr-443	507	7	can	can	AUX
ftr-443	507	8	not	not	PART
ftr-443	507	9	reelect	reelect	VERB
ftr-443	507	10	s	s	PART
ftr-443	507	11	status	status	NOUN
ftr-443	507	12	for	for	ADP
ftr-443	507	13	five	five	NUM
ftr-443	507	14	years	year	NOUN
ftr-443	507	15	unless	unless	SCONJ
ftr-443	507	16	the	the	DET
ftr-443	507	17	termination	termination	NOUN
ftr-443	507	18	was	be	AUX
ftr-443	507	19	inadvertent	inadvertent	ADJ
ftr-443	507	20	or	or	CCONJ
ftr-443	507	21	the	the	DET
ftr-443	507	22	service	service	NOUN
ftr-443	507	23	permits	permit	VERB
ftr-443	507	24	an	an	DET
ftr-443	507	25	early	early	ADJ
ftr-443	507	26	re	re	NOUN
ftr-443	507	27	-	-	NOUN
ftr-443	507	28	election	election	NOUN
ftr-443	507	29	.	.	PUNCT
ftr-443	508	1	for	for	ADP
ftr-443	508	2	most	most	ADJ
ftr-443	508	3	re	re	NOUN
ftr-443	508	4	-	-	NOUN
ftr-443	508	5	elections	election	NOUN
ftr-443	508	6	,	,	PUNCT
ftr-443	508	7	a	a	DET
ftr-443	508	8	substantial	substantial	ADJ
ftr-443	508	9	cost	cost	NOUN
ftr-443	508	10	is	be	AUX
ftr-443	508	11	incurred	incur	VERB
ftr-443	508	12	in	in	ADP
ftr-443	508	13	the	the	DET
ftr-443	508	14	form	form	NOUN
ftr-443	508	15	of	of	ADP
ftr-443	508	16	the	the	DET
ftr-443	508	17	built	build	VERB
ftr-443	508	18	-	-	PUNCT
ftr-443	508	19	in	in	ADP
ftr-443	508	20	gains	gain	NOUN
ftr-443	508	21	tax	tax	NOUN
ftr-443	508	22	under	under	ADP
ftr-443	508	23	section	section	NOUN
ftr-443	508	24	1374	1374	NUM
ftr-443	508	25	for	for	ADP
ftr-443	508	26	ten	ten	NUM
ftr-443	508	27	years	year	NOUN
ftr-443	508	28	after	after	ADP
ftr-443	508	29	the	the	DET
ftr-443	508	30	re	re	NOUN
ftr-443	508	31	-	-	NOUN
ftr-443	508	32	election	election	NOUN
ftr-443	508	33	.	.	PUNCT
ftr-443	509	1	this	this	DET
ftr-443	509	2	corporate	corporate	ADJ
ftr-443	509	3	-	-	PUNCT
ftr-443	509	4	level	level	NOUN
ftr-443	509	5	tax	tax	NOUN
ftr-443	509	6	generally	generally	ADV
ftr-443	509	7	applies	apply	VERB
ftr-443	509	8	to	to	ADP
ftr-443	509	9	realizations	realization	NOUN
ftr-443	509	10	during	during	ADP
ftr-443	509	11	the	the	DET
ftr-443	509	12	10	10	NUM
ftr-443	509	13	-	-	PUNCT
ftr-443	509	14	year	year	NOUN
ftr-443	509	15	period	period	NOUN
ftr-443	509	16	of	of	ADP
ftr-443	509	17	gains	gain	NOUN
ftr-443	509	18	accrued	accrue	VERB
ftr-443	509	19	before	before	ADP
ftr-443	509	20	the	the	DET
ftr-443	509	21	re	re	NOUN
ftr-443	509	22	-	-	NOUN
ftr-443	509	23	election	election	NOUN
ftr-443	509	24	,	,	PUNCT
ftr-443	509	25	including	include	VERB
ftr-443	509	26	gains	gain	NOUN
ftr-443	509	27	accrued	accrue	VERB
ftr-443	509	28	during	during	ADP
ftr-443	509	29	s	s	NOUN
ftr-443	509	30	years	year	NOUN
ftr-443	509	31	.	.	PUNCT
ftr-443	510	1	although	although	SCONJ
ftr-443	510	2	it	it	PRON
ftr-443	510	3	applies	apply	VERB
ftr-443	510	4	whether	whether	SCONJ
ftr-443	510	5	an	an	DET
ftr-443	510	6	early	early	ADJ
ftr-443	510	7	re	re	NOUN
ftr-443	510	8	-	-	NOUN
ftr-443	510	9	election	election	NOUN
ftr-443	510	10	is	be	AUX
ftr-443	510	11	allowed	allow	VERB
ftr-443	510	12	or	or	CCONJ
ftr-443	510	13	the	the	DET
ftr-443	510	14	five	five	NUM
ftr-443	510	15	-	-	PUNCT
ftr-443	510	16	year	year	NOUN
ftr-443	510	17	sentence	sentence	NOUN
ftr-443	510	18	is	be	AUX
ftr-443	510	19	imposed	impose	VERB
ftr-443	510	20	,	,	PUNCT
ftr-443	510	21	accrued	accrue	VERB
ftr-443	510	22	gains	gain	NOUN
ftr-443	510	23	tend	tend	VERB
ftr-443	510	24	to	to	PART
ftr-443	510	25	be	be	AUX
ftr-443	510	26	larger	large	ADJ
ftr-443	510	27	if	if	SCONJ
ftr-443	510	28	the	the	DET
ftr-443	510	29	intervening	intervene	VERB
ftr-443	510	30	c	c	NOUN
ftr-443	510	31	period	period	NOUN
ftr-443	510	32	is	be	AUX
ftr-443	510	33	longer	long	ADJ
ftr-443	510	34	.	.	PUNCT
ftr-443	511	1	in	in	ADP
ftr-443	511	2	contrast	contrast	NOUN
ftr-443	511	3	,	,	PUNCT
ftr-443	511	4	after	after	SCONJ
ftr-443	511	5	ctb	ctb	PROPN
ftr-443	511	6	,	,	PUNCT
ftr-443	511	7	a	a	DET
ftr-443	511	8	domestic	domestic	ADJ
ftr-443	511	9	unincorporated	unincorporated	ADJ
ftr-443	511	10	business	business	NOUN
ftr-443	511	11	entity	entity	NOUN
ftr-443	511	12	with	with	ADP
ftr-443	511	13	two	two	NUM
ftr-443	511	14	or	or	CCONJ
ftr-443	511	15	more	more	ADJ
ftr-443	511	16	owners	owner	NOUN
ftr-443	511	17	is	be	AUX
ftr-443	511	18	a	a	DET
ftr-443	511	19	partnership	partnership	NOUN
ftr-443	511	20	for	for	ADP
ftr-443	511	21	federal	federal	ADJ
ftr-443	511	22	tax	tax	NOUN
ftr-443	511	23	purposes	purpose	NOUN
ftr-443	511	24	unless	unless	SCONJ
ftr-443	511	25	it	it	PRON
ftr-443	511	26	elects	elect	VERB
ftr-443	511	27	to	to	PART
ftr-443	511	28	be	be	AUX
ftr-443	511	29	an	an	DET
ftr-443	511	30	association	association	NOUN
ftr-443	511	31	,	,	PUNCT
ftr-443	511	32	7	7	NUM
ftr-443	511	33	and	and	CCONJ
ftr-443	511	34	a	a	DET
ftr-443	511	35	single	single	ADJ
ftr-443	511	36	member	member	NOUN
ftr-443	511	37	llc	llc	PROPN
ftr-443	511	38	is	be	AUX
ftr-443	511	39	disregarded	disregard	VERB
ftr-443	511	40	for	for	ADP
ftr-443	511	41	tax	tax	NOUN
ftr-443	511	42	purposes	purpose	NOUN
ftr-443	511	43	unless	unless	SCONJ
ftr-443	511	44	it	it	PRON
ftr-443	511	45	elects	elect	VERB
ftr-443	511	46	association	association	NOUN
ftr-443	511	47	treatment	treatment	NOUN
ftr-443	511	48	.	.	PUNCT
ftr-443	511	49	'	'	PUNCT
ftr-443	512	1	the	the	DET
ftr-443	512	2	tax	tax	NOUN
ftr-443	512	3	status	status	NOUN
ftr-443	512	4	of	of	ADP
ftr-443	512	5	an	an	DET
ftr-443	512	6	llc	llc	NOUN
ftr-443	512	7	as	as	ADP
ftr-443	512	8	a	a	DET
ftr-443	512	9	passthrough	passthrough	NOUN
ftr-443	512	10	entity	entity	NOUN
ftr-443	512	11	is	be	AUX
ftr-443	512	12	thus	thus	ADV
ftr-443	512	13	simple	simple	ADJ
ftr-443	512	14	to	to	PART
ftr-443	512	15	establish	establish	VERB
ftr-443	512	16	and	and	CCONJ
ftr-443	512	17	maintain	maintain	VERB
ftr-443	512	18	.	.	PUNCT
ftr-443	513	1	again	again	ADV
ftr-443	513	2	,	,	PUNCT
ftr-443	513	3	the	the	DET
ftr-443	513	4	advantage	advantage	NOUN
ftr-443	513	5	goes	go	VERB
ftr-443	513	6	to	to	ADP
ftr-443	513	7	the	the	DET
ftr-443	513	8	llc	llc	PROPN
ftr-443	513	9	.	.	PUNCT
ftr-443	514	1	8	8	NUM
ftr-443	514	2	.	.	X
ftr-443	515	1	formation	formation	NOUN
ftr-443	515	2	issues.-section	issues.-section	NOUN
ftr-443	515	3	351	351	NUM
ftr-443	515	4	provides	provide	VERB
ftr-443	515	5	tax	tax	NOUN
ftr-443	515	6	free	free	ADJ
ftr-443	515	7	treatment	treatment	NOUN
ftr-443	515	8	for	for	ADP
ftr-443	515	9	transfers	transfer	NOUN
ftr-443	515	10	of	of	ADP
ftr-443	515	11	property	property	NOUN
ftr-443	515	12	to	to	ADP
ftr-443	515	13	a	a	DET
ftr-443	515	14	corporation	corporation	NOUN
ftr-443	515	15	if	if	SCONJ
ftr-443	515	16	the	the	DET
ftr-443	515	17	transferors	transferor	NOUN
ftr-443	515	18	control	control	VERB
ftr-443	515	19	the	the	DET
ftr-443	515	20	corporation	corporation	NOUN
ftr-443	515	21	64	64	NUM
ftr-443	515	22	.	.	PUNCT
ftr-443	516	1	prop	prop	NOUN
ftr-443	516	2	.	.	PUNCT
ftr-443	516	3	regs	regs	PROPN
ftr-443	516	4	.	.	PUNCT
ftr-443	517	1	§	§	PROPN
ftr-443	517	2	1.1402(a)-2(h)(2	1.1402(a)-2(h)(2	NUM
ftr-443	517	3	)	)	PUNCT
ftr-443	517	4	.	.	PUNCT
ftr-443	518	1	the	the	DET
ftr-443	518	2	reference	reference	NOUN
ftr-443	518	3	to	to	ADP
ftr-443	518	4	personal	personal	ADJ
ftr-443	518	5	liability	liability	NOUN
ftr-443	518	6	would	would	AUX
ftr-443	518	7	put	put	VERB
ftr-443	518	8	the	the	DET
ftr-443	518	9	day	day	NOUN
ftr-443	518	10	-	-	PUNCT
ftr-443	518	11	to	to	ADP
ftr-443	518	12	-	-	PUNCT
ftr-443	518	13	day	day	NOUN
ftr-443	518	14	participation	participation	NOUN
ftr-443	518	15	or	or	CCONJ
ftr-443	518	16	control	control	NOUN
ftr-443	518	17	in	in	ADP
ftr-443	518	18	partnership	partnership	NOUN
ftr-443	518	19	affairs	affairs	PROPN
ftr-443	518	20	test	test	NOUN
ftr-443	518	21	of	of	ADP
ftr-443	518	22	state	state	NOUN
ftr-443	518	23	partnership	partnership	NOUN
ftr-443	518	24	law	law	NOUN
ftr-443	518	25	into	into	ADP
ftr-443	518	26	the	the	DET
ftr-443	518	27	equation	equation	NOUN
ftr-443	518	28	.	.	PUNCT
ftr-443	519	1	see	see	VERB
ftr-443	519	2	rev	rev	PROPN
ftr-443	519	3	.	.	PROPN
ftr-443	519	4	unif	unif	PROPN
ftr-443	519	5	.	.	PUNCT
ftr-443	520	1	limited	limited	PROPN
ftr-443	520	2	partnership	partnership	PROPN
ftr-443	520	3	act	act	PROPN
ftr-443	520	4	,	,	PUNCT
ftr-443	520	5	§	§	PROPN
ftr-443	520	6	303	303	NUM
ftr-443	520	7	(	(	PUNCT
ftr-443	520	8	1976	1976	NUM
ftr-443	520	9	)	)	PUNCT
ftr-443	520	10	.	.	PUNCT
ftr-443	521	1	a	a	DET
ftr-443	521	2	partner	partner	NOUN
ftr-443	521	3	or	or	CCONJ
ftr-443	521	4	member	member	NOUN
ftr-443	521	5	participating	participate	VERB
ftr-443	521	6	in	in	ADP
ftr-443	521	7	the	the	DET
ftr-443	521	8	partnership	partnership	NOUN
ftr-443	521	9	's	's	PART
ftr-443	521	10	business	business	NOUN
ftr-443	521	11	for	for	ADP
ftr-443	521	12	more	more	ADJ
ftr-443	521	13	than	than	ADP
ftr-443	521	14	500	500	NUM
ftr-443	521	15	hours	hour	NOUN
ftr-443	521	16	during	during	ADP
ftr-443	521	17	the	the	DET
ftr-443	521	18	year	year	NOUN
ftr-443	521	19	would	would	AUX
ftr-443	521	20	be	be	AUX
ftr-443	521	21	limited	limit	VERB
ftr-443	521	22	partners	partner	NOUN
ftr-443	521	23	if	if	SCONJ
ftr-443	521	24	other	other	ADJ
ftr-443	521	25	persons	person	NOUN
ftr-443	521	26	holding	hold	VERB
ftr-443	521	27	"	"	PUNCT
ftr-443	521	28	substantial	substantial	ADJ
ftr-443	521	29	continuing	continue	VERB
ftr-443	521	30	interest[s	interest[	NOUN
ftr-443	521	31	]	]	PUNCT
ftr-443	521	32	"	"	PUNCT
ftr-443	521	33	in	in	ADP
ftr-443	521	34	the	the	DET
ftr-443	521	35	same	same	ADJ
ftr-443	521	36	class	class	NOUN
ftr-443	521	37	of	of	ADP
ftr-443	521	38	partnership	partnership	NOUN
ftr-443	521	39	interests	interest	NOUN
ftr-443	521	40	do	do	AUX
ftr-443	521	41	not	not	PART
ftr-443	521	42	participate	participate	VERB
ftr-443	521	43	for	for	ADP
ftr-443	521	44	as	as	ADV
ftr-443	521	45	many	many	ADJ
ftr-443	521	46	as	as	ADP
ftr-443	521	47	500	500	NUM
ftr-443	521	48	hours	hour	NOUN
ftr-443	521	49	.	.	PUNCT
ftr-443	522	1	prop	prop	NOUN
ftr-443	522	2	.	.	PUNCT
ftr-443	522	3	regs	regs	PROPN
ftr-443	522	4	.	.	PUNCT
ftr-443	523	1	§	§	PROPN
ftr-443	523	2	1.1402(a)2(h)(4	1.1402(a)2(h)(4	NUM
ftr-443	523	3	)	)	PUNCT
ftr-443	523	4	.	.	PUNCT
ftr-443	524	1	65	65	NUM
ftr-443	524	2	.	.	PUNCT
ftr-443	525	1	the	the	DET
ftr-443	525	2	excluded	exclude	VERB
ftr-443	525	3	persons	person	NOUN
ftr-443	525	4	are	be	AUX
ftr-443	525	5	"	"	PUNCT
ftr-443	525	6	service	service	NOUN
ftr-443	525	7	partners	partner	NOUN
ftr-443	525	8	"	"	PUNCT
ftr-443	525	9	of	of	ADP
ftr-443	525	10	an	an	DET
ftr-443	525	11	entity	entity	NOUN
ftr-443	525	12	"	"	PUNCT
ftr-443	525	13	substantially	substantially	ADV
ftr-443	525	14	all	all	DET
ftr-443	525	15	the	the	DET
ftr-443	525	16	activities	activity	NOUN
ftr-443	525	17	of	of	ADP
ftr-443	525	18	which	which	PRON
ftr-443	525	19	involve	involve	VERB
ftr-443	525	20	the	the	DET
ftr-443	525	21	performance	performance	NOUN
ftr-443	525	22	of	of	ADP
ftr-443	525	23	services	service	NOUN
ftr-443	525	24	in	in	ADP
ftr-443	525	25	the	the	DET
ftr-443	525	26	fields	field	NOUN
ftr-443	525	27	of	of	ADP
ftr-443	525	28	health	health	NOUN
ftr-443	525	29	,	,	PUNCT
ftr-443	525	30	law	law	NOUN
ftr-443	525	31	,	,	PUNCT
ftr-443	525	32	engineering	engineering	NOUN
ftr-443	525	33	,	,	PUNCT
ftr-443	525	34	architecture	architecture	NOUN
ftr-443	525	35	,	,	PUNCT
ftr-443	525	36	accounting	accounting	NOUN
ftr-443	525	37	,	,	PUNCT
ftr-443	525	38	actuarial	actuarial	ADJ
ftr-443	525	39	science	science	NOUN
ftr-443	525	40	,	,	PUNCT
ftr-443	525	41	or	or	CCONJ
ftr-443	525	42	consulting	consulting	NOUN
ftr-443	525	43	.	.	PUNCT
ftr-443	525	44	"	"	PUNCT
ftr-443	526	1	prop	prop	NOUN
ftr-443	526	2	.	.	PUNCT
ftr-443	526	3	regs	regs	PROPN
ftr-443	526	4	.	.	PUNCT
ftr-443	527	1	§	§	PROPN
ftr-443	527	2	1.1402(a)-2(h)(5	1.1402(a)-2(h)(5	NUM
ftr-443	527	3	)	)	PUNCT
ftr-443	527	4	.	.	PUNCT
ftr-443	528	1	66	66	NUM
ftr-443	528	2	.	.	PUNCT
ftr-443	529	1	see	see	VERB
ftr-443	529	2	prop	prop	NOUN
ftr-443	529	3	.	.	PUNCT
ftr-443	530	1	regs	regs	PROPN
ftr-443	530	2	.	.	PUNCT
ftr-443	531	1	§	§	PROPN
ftr-443	531	2	1.1402(a)-2(h)(3	1.1402(a)-2(h)(3	NUM
ftr-443	531	3	)	)	PUNCT
ftr-443	531	4	.	.	PUNCT
ftr-443	532	1	67	67	NUM
ftr-443	532	2	.	.	PUNCT
ftr-443	533	1	see	see	VERB
ftr-443	533	2	regs	reg	NOUN
ftr-443	533	3	.	.	PUNCT
ftr-443	534	1	§	§	PROPN
ftr-443	534	2	§	§	PROPN
ftr-443	534	3	301.7701	301.7701	NUM
ftr-443	534	4	-	-	SYM
ftr-443	534	5	2(c)(1	2(c)(1	NUM
ftr-443	534	6	)	)	PUNCT
ftr-443	534	7	,	,	PUNCT
ftr-443	534	8	301.7701	301.7701	NUM
ftr-443	534	9	-	-	SYM
ftr-443	534	10	3(b)(1)(i	3(b)(1)(i	NUM
ftr-443	534	11	)	)	PUNCT
ftr-443	534	12	.	.	PUNCT
ftr-443	535	1	68	68	NUM
ftr-443	535	2	.	.	PUNCT
ftr-443	536	1	see	see	VERB
ftr-443	536	2	regs	reg	NOUN
ftr-443	536	3	.	.	PUNCT
ftr-443	537	1	§	§	PROPN
ftr-443	537	2	§	§	PROPN
ftr-443	537	3	301.7701	301.7701	NUM
ftr-443	537	4	-	-	SYM
ftr-443	537	5	2(c)(2	2(c)(2	NUM
ftr-443	537	6	)	)	PUNCT
ftr-443	537	7	,	,	PUNCT
ftr-443	537	8	301.7701	301.7701	NUM
ftr-443	537	9	-	-	SYM
ftr-443	537	10	3(b)(1)cii	3(b)(1)cii	NUM
ftr-443	537	11	)	)	PUNCT
ftr-443	537	12	.	.	PUNCT
ftr-443	538	1	19991	19991	NUM
ftr-443	538	2	florida	florida	PROPN
ftr-443	538	3	tax	tax	NOUN
ftr-443	538	4	review	review	NOUN
ftr-443	538	5	immediately	immediately	ADV
ftr-443	538	6	thereafter.69	thereafter.69	NOUN
ftr-443	538	7	section	section	NOUN
ftr-443	538	8	368(c	368(c	PROPN
ftr-443	538	9	)	)	PUNCT
ftr-443	538	10	defines	define	VERB
ftr-443	538	11	control	control	NOUN
ftr-443	538	12	for	for	ADP
ftr-443	538	13	this	this	DET
ftr-443	538	14	purpose	purpose	NOUN
ftr-443	538	15	as	as	ADP
ftr-443	538	16	ownership	ownership	NOUN
ftr-443	538	17	of	of	ADP
ftr-443	538	18	at	at	ADV
ftr-443	538	19	least	least	ADV
ftr-443	538	20	80	80	NUM
ftr-443	538	21	%	%	NOUN
ftr-443	538	22	of	of	ADP
ftr-443	538	23	the	the	DET
ftr-443	538	24	stock	stock	NOUN
ftr-443	538	25	,	,	PUNCT
ftr-443	538	26	by	by	ADP
ftr-443	538	27	vote	vote	NOUN
ftr-443	538	28	and	and	CCONJ
ftr-443	538	29	value	value	NOUN
ftr-443	538	30	.	.	PUNCT
ftr-443	539	1	if	if	SCONJ
ftr-443	539	2	appreciated	appreciated	ADJ
ftr-443	539	3	property	property	NOUN
ftr-443	539	4	is	be	AUX
ftr-443	539	5	transferred	transfer	VERB
ftr-443	539	6	to	to	ADP
ftr-443	539	7	a	a	DET
ftr-443	539	8	controlled	control	VERB
ftr-443	539	9	corporation	corporation	NOUN
ftr-443	539	10	in	in	ADP
ftr-443	539	11	exchange	exchange	NOUN
ftr-443	539	12	for	for	ADP
ftr-443	539	13	stock	stock	NOUN
ftr-443	539	14	and	and	CCONJ
ftr-443	539	15	other	other	ADJ
ftr-443	539	16	consideration	consideration	NOUN
ftr-443	539	17	(	(	PUNCT
ftr-443	539	18	e.g.	e.g.	ADV
ftr-443	539	19	,	,	PUNCT
ftr-443	539	20	cash	cash	NOUN
ftr-443	539	21	or	or	CCONJ
ftr-443	539	22	debt	debt	NOUN
ftr-443	539	23	instruments	instrument	NOUN
ftr-443	539	24	of	of	ADP
ftr-443	539	25	the	the	DET
ftr-443	539	26	corporation	corporation	NOUN
ftr-443	539	27	)	)	PUNCT
ftr-443	539	28	,	,	PUNCT
ftr-443	539	29	gain	gain	NOUN
ftr-443	539	30	or	or	CCONJ
ftr-443	539	31	loss	loss	NOUN
ftr-443	539	32	is	be	AUX
ftr-443	539	33	recognized	recognize	VERB
ftr-443	539	34	to	to	ADP
ftr-443	539	35	the	the	DET
ftr-443	539	36	extent	extent	NOUN
ftr-443	539	37	of	of	ADP
ftr-443	539	38	the	the	DET
ftr-443	539	39	fair	fair	ADJ
ftr-443	539	40	market	market	NOUN
ftr-443	539	41	value	value	NOUN
ftr-443	539	42	of	of	ADP
ftr-443	539	43	the	the	DET
ftr-443	539	44	other	other	ADJ
ftr-443	539	45	consideration	consideration	NOUN
ftr-443	539	46	(	(	PUNCT
ftr-443	539	47	boot	boot	NOUN
ftr-443	539	48	)	)	PUNCT
ftr-443	539	49	.	.	PUNCT
ftr-443	540	1	also	also	ADV
ftr-443	540	2	,	,	PUNCT
ftr-443	540	3	if	if	SCONJ
ftr-443	540	4	the	the	DET
ftr-443	540	5	adjusted	adjusted	ADJ
ftr-443	540	6	basis	basis	NOUN
ftr-443	540	7	of	of	ADP
ftr-443	540	8	the	the	DET
ftr-443	540	9	transferred	transfer	VERB
ftr-443	540	10	property	property	NOUN
ftr-443	540	11	is	be	AUX
ftr-443	540	12	less	less	ADJ
ftr-443	540	13	than	than	ADP
ftr-443	540	14	the	the	DET
ftr-443	540	15	debt	debt	NOUN
ftr-443	540	16	assumed	assume	VERB
ftr-443	540	17	or	or	CCONJ
ftr-443	540	18	taken	take	VERB
ftr-443	540	19	subject	subject	NOUN
ftr-443	540	20	to	to	ADP
ftr-443	540	21	by	by	ADP
ftr-443	540	22	the	the	DET
ftr-443	540	23	corporation	corporation	NOUN
ftr-443	540	24	,	,	PUNCT
ftr-443	540	25	the	the	DET
ftr-443	540	26	excess	excess	NOUN
ftr-443	540	27	is	be	AUX
ftr-443	540	28	taxable	taxable	ADJ
ftr-443	540	29	gain	gain	NOUN
ftr-443	540	30	.	.	PUNCT
ftr-443	540	31	0	0	PUNCT
ftr-443	541	1	the	the	DET
ftr-443	541	2	transferring	transfer	VERB
ftr-443	541	3	shareholder	shareholder	NOUN
ftr-443	541	4	recaptures	recapture	NOUN
ftr-443	541	5	depreciation	depreciation	NOUN
ftr-443	541	6	on	on	ADP
ftr-443	541	7	the	the	DET
ftr-443	541	8	transferred	transfer	VERB
ftr-443	541	9	assets	asset	NOUN
ftr-443	541	10	only	only	ADV
ftr-443	541	11	to	to	ADP
ftr-443	541	12	the	the	DET
ftr-443	541	13	extent	extent	NOUN
ftr-443	541	14	that	that	SCONJ
ftr-443	541	15	gain	gain	NOUN
ftr-443	541	16	is	be	AUX
ftr-443	541	17	recognized	recognize	VERB
ftr-443	541	18	on	on	ADP
ftr-443	541	19	the	the	DET
ftr-443	541	20	transfer	transfer	NOUN
ftr-443	541	21	of	of	ADP
ftr-443	541	22	the	the	DET
ftr-443	541	23	depreciated	depreciate	VERB
ftr-443	541	24	assets.7	assets.7	AUX
ftr-443	541	25	the	the	DET
ftr-443	541	26	transferee	transferee	PROPN
ftr-443	541	27	corporation	corporation	NOUN
ftr-443	541	28	generally	generally	ADV
ftr-443	541	29	receives	receive	VERB
ftr-443	541	30	the	the	DET
ftr-443	541	31	contributed	contribute	VERB
ftr-443	541	32	assets	asset	NOUN
ftr-443	541	33	with	with	ADP
ftr-443	541	34	a	a	DET
ftr-443	541	35	carryover	carryover	NOUN
ftr-443	541	36	basis	basis	NOUN
ftr-443	541	37	and	and	CCONJ
ftr-443	541	38	inherits	inherit	VERB
ftr-443	541	39	the	the	DET
ftr-443	541	40	transferor	transferor	NOUN
ftr-443	541	41	's	's	PART
ftr-443	541	42	holding	hold	VERB
ftr-443	541	43	period	period	NOUN
ftr-443	541	44	for	for	ADP
ftr-443	541	45	the	the	DET
ftr-443	541	46	property.72	property.72	NOUN
ftr-443	541	47	the	the	DET
ftr-443	541	48	shareholder	shareholder	NOUN
ftr-443	541	49	's	's	PART
ftr-443	541	50	basis	basis	NOUN
ftr-443	541	51	for	for	ADP
ftr-443	541	52	the	the	DET
ftr-443	541	53	stock	stock	NOUN
ftr-443	541	54	received	receive	VERB
ftr-443	541	55	is	be	AUX
ftr-443	541	56	the	the	DET
ftr-443	541	57	adjusted	adjusted	ADJ
ftr-443	541	58	basis	basis	NOUN
ftr-443	541	59	of	of	ADP
ftr-443	541	60	the	the	DET
ftr-443	541	61	property	property	NOUN
ftr-443	541	62	transferred	transfer	VERB
ftr-443	541	63	,	,	PUNCT
ftr-443	541	64	less	less	ADJ
ftr-443	541	65	the	the	DET
ftr-443	541	66	value	value	NOUN
ftr-443	541	67	of	of	ADP
ftr-443	541	68	boot	boot	NOUN
ftr-443	541	69	received	receive	VERB
ftr-443	541	70	and	and	CCONJ
ftr-443	541	71	liabilities	liability	NOUN
ftr-443	541	72	assumed	assume	VERB
ftr-443	541	73	,	,	PUNCT
ftr-443	541	74	plus	plus	CCONJ
ftr-443	541	75	any	any	DET
ftr-443	541	76	gain	gain	NOUN
ftr-443	541	77	recognized.7	recognized.7	NOUN
ftr-443	541	78	'	'	PUNCT
ftr-443	541	79	in	in	ADP
ftr-443	541	80	contrast	contrast	NOUN
ftr-443	541	81	,	,	PUNCT
ftr-443	541	82	under	under	ADP
ftr-443	541	83	section	section	NOUN
ftr-443	541	84	721	721	NUM
ftr-443	541	85	,	,	PUNCT
ftr-443	541	86	no	no	DET
ftr-443	541	87	gain	gain	NOUN
ftr-443	541	88	or	or	CCONJ
ftr-443	541	89	loss	loss	NOUN
ftr-443	541	90	is	be	AUX
ftr-443	541	91	recognized	recognize	VERB
ftr-443	541	92	on	on	ADP
ftr-443	541	93	a	a	DET
ftr-443	541	94	transfer	transfer	NOUN
ftr-443	541	95	of	of	ADP
ftr-443	541	96	property	property	NOUN
ftr-443	541	97	to	to	ADP
ftr-443	541	98	a	a	DET
ftr-443	541	99	partnership	partnership	NOUN
ftr-443	541	100	in	in	ADP
ftr-443	541	101	exchange	exchange	NOUN
ftr-443	541	102	for	for	ADP
ftr-443	541	103	a	a	DET
ftr-443	541	104	partnership	partnership	NOUN
ftr-443	541	105	interest	interest	NOUN
ftr-443	541	106	,	,	PUNCT
ftr-443	541	107	regardless	regardless	ADV
ftr-443	541	108	of	of	ADP
ftr-443	541	109	the	the	DET
ftr-443	541	110	transferor	transferor	NOUN
ftr-443	541	111	's	's	PART
ftr-443	541	112	proportionate	proportionate	ADJ
ftr-443	541	113	interest	interest	NOUN
ftr-443	541	114	in	in	ADP
ftr-443	541	115	the	the	DET
ftr-443	541	116	partnership	partnership	NOUN
ftr-443	541	117	.	.	PUNCT
ftr-443	542	1	if	if	SCONJ
ftr-443	542	2	a	a	DET
ftr-443	542	3	contributing	contribute	VERB
ftr-443	542	4	partner	partner	NOUN
ftr-443	542	5	receives	receive	VERB
ftr-443	542	6	consideration	consideration	NOUN
ftr-443	542	7	in	in	ADP
ftr-443	542	8	addition	addition	NOUN
ftr-443	542	9	to	to	ADP
ftr-443	542	10	the	the	DET
ftr-443	542	11	partnership	partnership	NOUN
ftr-443	542	12	interest	interest	NOUN
ftr-443	542	13	,	,	PUNCT
ftr-443	542	14	this	this	DET
ftr-443	542	15	consideration	consideration	NOUN
ftr-443	542	16	is	be	AUX
ftr-443	542	17	treated	treat	VERB
ftr-443	542	18	as	as	SCONJ
ftr-443	542	19	distributed	distribute	VERB
ftr-443	542	20	by	by	ADP
ftr-443	542	21	the	the	DET
ftr-443	542	22	partnership	partnership	NOUN
ftr-443	542	23	to	to	ADP
ftr-443	542	24	the	the	DET
ftr-443	542	25	partner	partner	NOUN
ftr-443	542	26	.	.	PUNCT
ftr-443	543	1	generally	generally	ADV
ftr-443	543	2	,	,	PUNCT
ftr-443	543	3	a	a	DET
ftr-443	543	4	partner	partner	NOUN
ftr-443	543	5	recognizes	recognize	VERB
ftr-443	543	6	gain	gain	NOUN
ftr-443	543	7	on	on	ADP
ftr-443	543	8	a	a	DET
ftr-443	543	9	distribution	distribution	NOUN
ftr-443	543	10	only	only	ADV
ftr-443	543	11	to	to	ADP
ftr-443	543	12	the	the	DET
ftr-443	543	13	extent	extent	NOUN
ftr-443	543	14	that	that	SCONJ
ftr-443	543	15	the	the	DET
ftr-443	543	16	cash	cash	NOUN
ftr-443	543	17	distributed	distribute	VERB
ftr-443	543	18	exceeds	exceed	VERB
ftr-443	543	19	the	the	DET
ftr-443	543	20	adjusted	adjusted	ADJ
ftr-443	543	21	basis	basis	NOUN
ftr-443	543	22	of	of	ADP
ftr-443	543	23	the	the	DET
ftr-443	543	24	partner	partner	NOUN
ftr-443	543	25	's	's	PART
ftr-443	543	26	partnership	partnership	NOUN
ftr-443	543	27	interest	interest	NOUN
ftr-443	543	28	,	,	PUNCT
ftr-443	543	29	which	which	PRON
ftr-443	543	30	initially	initially	ADV
ftr-443	543	31	equals	equal	VERB
ftr-443	543	32	the	the	DET
ftr-443	543	33	adjusted	adjusted	ADJ
ftr-443	543	34	basis	basis	NOUN
ftr-443	543	35	of	of	ADP
ftr-443	543	36	the	the	DET
ftr-443	543	37	contributed	contributed	ADJ
ftr-443	543	38	property.74	property.74	VERB
ftr-443	543	39	the	the	DET
ftr-443	543	40	partnership	partnership	NOUN
ftr-443	543	41	's	's	PART
ftr-443	543	42	assumption	assumption	NOUN
ftr-443	543	43	of	of	ADP
ftr-443	543	44	a	a	DET
ftr-443	543	45	partner	partner	NOUN
ftr-443	543	46	's	's	PART
ftr-443	543	47	liability	liability	NOUN
ftr-443	543	48	or	or	CCONJ
ftr-443	543	49	taking	taking	NOUN
ftr-443	543	50	of	of	ADP
ftr-443	543	51	contributed	contribute	VERB
ftr-443	543	52	property	property	NOUN
ftr-443	543	53	subject	subject	NOUN
ftr-443	543	54	to	to	ADP
ftr-443	543	55	a	a	DET
ftr-443	543	56	liability	liability	NOUN
ftr-443	543	57	is	be	AUX
ftr-443	543	58	treated	treat	VERB
ftr-443	543	59	as	as	ADP
ftr-443	543	60	a	a	DET
ftr-443	543	61	cash	cash	NOUN
ftr-443	543	62	distribution	distribution	NOUN
ftr-443	543	63	to	to	ADP
ftr-443	543	64	the	the	DET
ftr-443	543	65	partner	partner	NOUN
ftr-443	543	66	equal	equal	ADJ
ftr-443	543	67	to	to	ADP
ftr-443	543	68	the	the	DET
ftr-443	543	69	amount	amount	NOUN
ftr-443	543	70	by	by	ADP
ftr-443	543	71	which	which	PRON
ftr-443	543	72	this	this	DET
ftr-443	543	73	liability	liability	NOUN
ftr-443	543	74	exceeds	exceed	VERB
ftr-443	543	75	the	the	DET
ftr-443	543	76	partner	partner	NOUN
ftr-443	543	77	's	's	PART
ftr-443	543	78	share	share	NOUN
ftr-443	543	79	of	of	ADP
ftr-443	543	80	the	the	DET
ftr-443	543	81	partnership	partnership	NOUN
ftr-443	543	82	's	's	PART
ftr-443	543	83	liabilities	liability	NOUN
ftr-443	543	84	,	,	PUNCT
ftr-443	543	85	including	include	VERB
ftr-443	543	86	the	the	DET
ftr-443	543	87	liability	liability	NOUN
ftr-443	543	88	assumed	assume	VERB
ftr-443	543	89	or	or	CCONJ
ftr-443	543	90	taken	take	VERB
ftr-443	543	91	subject	subject	NOUN
ftr-443	543	92	to.75	to.75	VERB
ftr-443	543	93	a	a	DET
ftr-443	543	94	partner	partner	NOUN
ftr-443	543	95	who	who	PRON
ftr-443	543	96	contributes	contribute	VERB
ftr-443	543	97	property	property	NOUN
ftr-443	543	98	encumbered	encumber	VERB
ftr-443	543	99	by	by	ADP
ftr-443	543	100	debt	debt	NOUN
ftr-443	543	101	exceeding	exceed	VERB
ftr-443	543	102	the	the	DET
ftr-443	543	103	property	property	NOUN
ftr-443	543	104	's	's	PART
ftr-443	543	105	basis	basis	NOUN
ftr-443	543	106	thus	thus	ADV
ftr-443	543	107	may	may	AUX
ftr-443	543	108	,	,	PUNCT
ftr-443	543	109	but	but	CCONJ
ftr-443	543	110	is	be	AUX
ftr-443	543	111	not	not	PART
ftr-443	543	112	certain	certain	ADJ
ftr-443	543	113	to	to	PART
ftr-443	543	114	,	,	PUNCT
ftr-443	543	115	recognize	recognize	VERB
ftr-443	543	116	gain	gain	NOUN
ftr-443	543	117	on	on	ADP
ftr-443	543	118	the	the	DET
ftr-443	543	119	contribution	contribution	NOUN
ftr-443	543	120	.	.	PUNCT
ftr-443	544	1	gain	gain	NOUN
ftr-443	544	2	may	may	AUX
ftr-443	544	3	be	be	AUX
ftr-443	544	4	recognized	recognize	VERB
ftr-443	544	5	,	,	PUNCT
ftr-443	544	6	for	for	ADP
ftr-443	544	7	example	example	NOUN
ftr-443	544	8	,	,	PUNCT
ftr-443	544	9	where	where	SCONJ
ftr-443	544	10	an	an	DET
ftr-443	544	11	llc	llc	PROPN
ftr-443	544	12	member	member	NOUN
ftr-443	544	13	's	's	PART
ftr-443	544	14	contribution	contribution	NOUN
ftr-443	544	15	for	for	ADP
ftr-443	544	16	her	her	PRON
ftr-443	544	17	llc	llc	NOUN
ftr-443	544	18	interest	interest	NOUN
ftr-443	544	19	consists	consist	VERB
ftr-443	544	20	of	of	ADP
ftr-443	544	21	real	real	ADJ
ftr-443	544	22	property	property	NOUN
ftr-443	544	23	that	that	PRON
ftr-443	544	24	has	have	AUX
ftr-443	544	25	been	be	AUX
ftr-443	544	26	depreciated	depreciate	VERB
ftr-443	544	27	while	while	SCONJ
ftr-443	544	28	the	the	DET
ftr-443	544	29	member	member	NOUN
ftr-443	544	30	held	hold	VERB
ftr-443	544	31	it	it	PRON
ftr-443	544	32	at	at	ADP
ftr-443	544	33	a	a	DET
ftr-443	544	34	rate	rate	NOUN
ftr-443	544	35	faster	fast	ADV
ftr-443	544	36	than	than	SCONJ
ftr-443	544	37	the	the	DET
ftr-443	544	38	member	member	NOUN
ftr-443	544	39	paid	pay	VERB
ftr-443	544	40	down	down	ADP
ftr-443	544	41	principal	principal	NOUN
ftr-443	544	42	on	on	ADP
ftr-443	544	43	a	a	DET
ftr-443	544	44	mortgage	mortgage	NOUN
ftr-443	544	45	on	on	ADP
ftr-443	544	46	the	the	DET
ftr-443	544	47	property	property	NOUN
ftr-443	544	48	.	.	PUNCT
ftr-443	545	1	69	69	NUM
ftr-443	545	2	.	.	PUNCT
ftr-443	546	1	contributions	contribution	NOUN
ftr-443	546	2	of	of	ADP
ftr-443	546	3	property	property	NOUN
ftr-443	546	4	by	by	ADP
ftr-443	546	5	a	a	DET
ftr-443	546	6	shareholder	shareholder	NOUN
ftr-443	546	7	to	to	ADP
ftr-443	546	8	a	a	DET
ftr-443	546	9	corporation	corporation	NOUN
ftr-443	546	10	not	not	PART
ftr-443	546	11	in	in	ADP
ftr-443	546	12	exchange	exchange	NOUN
ftr-443	546	13	for	for	ADP
ftr-443	546	14	stock	stock	NOUN
ftr-443	546	15	also	also	ADV
ftr-443	546	16	are	be	AUX
ftr-443	546	17	generally	generally	ADV
ftr-443	546	18	tax	tax	NOUN
ftr-443	546	19	-	-	PUNCT
ftr-443	546	20	free	free	ADJ
ftr-443	546	21	.	.	PUNCT
ftr-443	547	1	see	see	VERB
ftr-443	547	2	irc	irc	PROPN
ftr-443	547	3	§	§	PROPN
ftr-443	547	4	118	118	NUM
ftr-443	547	5	.	.	PUNCT
ftr-443	548	1	70	70	NUM
ftr-443	548	2	.	.	PUNCT
ftr-443	549	1	see	see	VERB
ftr-443	549	2	irc	irc	ADV
ftr-443	549	3	§	§	PROPN
ftr-443	549	4	357(c	357(c	PROPN
ftr-443	549	5	)	)	PUNCT
ftr-443	549	6	.	.	PUNCT
ftr-443	550	1	but	but	CCONJ
ftr-443	550	2	see	see	VERB
ftr-443	550	3	lessinger	lessinger	NOUN
ftr-443	550	4	v.	v.	PROPN
ftr-443	550	5	commissioner	commissioner	NOUN
ftr-443	550	6	,	,	PUNCT
ftr-443	550	7	872	872	NUM
ftr-443	550	8	f.2d	f.2d	ADP
ftr-443	550	9	519	519	NUM
ftr-443	550	10	(	(	PUNCT
ftr-443	550	11	2d	2d	NUM
ftr-443	550	12	cir	cir	NOUN
ftr-443	550	13	.	.	PROPN
ftr-443	550	14	1989	1989	NUM
ftr-443	550	15	)	)	PUNCT
ftr-443	550	16	;	;	PUNCT
ftr-443	550	17	irc	irc	PROPN
ftr-443	550	18	§	§	PROPN
ftr-443	550	19	357(b	357(b	PROPN
ftr-443	550	20	)	)	PUNCT
ftr-443	550	21	(	(	PUNCT
ftr-443	550	22	tax	tax	NOUN
ftr-443	550	23	avoidance	avoidance	NOUN
ftr-443	550	24	purpose	purpose	NOUN
ftr-443	550	25	rule	rule	NOUN
ftr-443	550	26	)	)	PUNCT
ftr-443	550	27	.	.	PUNCT
ftr-443	551	1	transfers	transfer	NOUN
ftr-443	551	2	to	to	ADP
ftr-443	551	3	investment	investment	NOUN
ftr-443	551	4	corporations	corporation	NOUN
ftr-443	551	5	and	and	CCONJ
ftr-443	551	6	partnerships	partnership	NOUN
ftr-443	551	7	are	be	AUX
ftr-443	551	8	usually	usually	ADV
ftr-443	551	9	taxable	taxable	ADJ
ftr-443	551	10	.	.	PUNCT
ftr-443	552	1	see	see	VERB
ftr-443	552	2	irc	irc	PROPN
ftr-443	552	3	§	§	PROPN
ftr-443	552	4	721(b	721(b	PROPN
ftr-443	552	5	)	)	PUNCT
ftr-443	552	6	;	;	PUNCT
ftr-443	552	7	regs	reg	NOUN
ftr-443	552	8	.	.	PUNCT
ftr-443	553	1	§	§	PROPN
ftr-443	553	2	1.351	1.351	NUM
ftr-443	553	3	-	-	SYM
ftr-443	553	4	1(c)(5	1(c)(5	NUM
ftr-443	553	5	)	)	PUNCT
ftr-443	553	6	.	.	PUNCT
ftr-443	554	1	71	71	NUM
ftr-443	554	2	.	.	PUNCT
ftr-443	554	3	see	see	VERB
ftr-443	554	4	irc	irc	PROPN
ftr-443	554	5	§	§	PROPN
ftr-443	554	6	§	§	PROPN
ftr-443	554	7	1245(b)(3	1245(b)(3	NUM
ftr-443	554	8	)	)	PUNCT
ftr-443	554	9	,	,	PUNCT
ftr-443	554	10	1250(d)(3	1250(d)(3	NUM
ftr-443	554	11	)	)	PUNCT
ftr-443	554	12	.	.	PUNCT
ftr-443	555	1	72	72	X
ftr-443	555	2	.	.	PUNCT
ftr-443	556	1	see	see	VERB
ftr-443	556	2	irc	irc	PROPN
ftr-443	556	3	§	§	PROPN
ftr-443	556	4	§	§	PROPN
ftr-443	556	5	362(a	362(a	PROPN
ftr-443	556	6	)	)	PUNCT
ftr-443	556	7	,	,	PUNCT
ftr-443	556	8	1223(2	1223(2	NUM
ftr-443	556	9	)	)	PUNCT
ftr-443	556	10	.	.	PUNCT
ftr-443	557	1	73	73	NUM
ftr-443	557	2	.	.	PUNCT
ftr-443	558	1	see	see	VERB
ftr-443	558	2	irc	irc	PROPN
ftr-443	558	3	§	§	PROPN
ftr-443	558	4	358(a	358(a	PROPN
ftr-443	558	5	)	)	PUNCT
ftr-443	558	6	.	.	PUNCT
ftr-443	559	1	74	74	X
ftr-443	559	2	.	.	PUNCT
ftr-443	560	1	see	see	VERB
ftr-443	560	2	irc	irc	PROPN
ftr-443	560	3	§	§	PROPN
ftr-443	560	4	§	§	PROPN
ftr-443	560	5	722	722	NUM
ftr-443	560	6	,	,	PUNCT
ftr-443	560	7	731(a)(1	731(a)(1	NUM
ftr-443	560	8	)	)	PUNCT
ftr-443	560	9	.	.	PUNCT
ftr-443	561	1	75	75	NUM
ftr-443	561	2	.	.	PUNCT
ftr-443	562	1	see	see	VERB
ftr-443	562	2	irc	irc	PROPN
ftr-443	562	3	§	§	PROPN
ftr-443	562	4	752	752	NUM
ftr-443	562	5	;	;	PUNCT
ftr-443	562	6	regs	reg	NOUN
ftr-443	562	7	.	.	PUNCT
ftr-443	563	1	§	§	PROPN
ftr-443	563	2	1.752	1.752	NUM
ftr-443	563	3	-	-	SYM
ftr-443	563	4	3	3	NUM
ftr-443	563	5	.	.	PUNCT
ftr-443	564	1	[	[	X
ftr-443	564	2	vol	vol	NOUN
ftr-443	564	3	4:3	4:3	NUM
ftr-443	564	4	benefits	benefit	NOUN
ftr-443	564	5	and	and	CCONJ
ftr-443	564	6	burdens	burden	NOUN
ftr-443	564	7	of	of	ADP
ftr-443	564	8	subclapter	subclapter	NOUN
ftr-443	564	9	s	s	PROPN
ftr-443	564	10	despite	despite	SCONJ
ftr-443	564	11	the	the	DET
ftr-443	564	12	seeming	seem	VERB
ftr-443	564	13	competitive	competitive	ADJ
ftr-443	564	14	advantage	advantage	NOUN
ftr-443	564	15	of	of	ADP
ftr-443	564	16	section	section	NOUN
ftr-443	564	17	721	721	NUM
ftr-443	564	18	over	over	ADP
ftr-443	564	19	section	section	NOUN
ftr-443	564	20	351	351	NUM
ftr-443	564	21	,	,	PUNCT
ftr-443	564	22	there	there	PRON
ftr-443	564	23	are	be	VERB
ftr-443	564	24	several	several	ADJ
ftr-443	564	25	potential	potential	ADJ
ftr-443	564	26	advantages	advantage	NOUN
ftr-443	564	27	to	to	ADP
ftr-443	564	28	s	s	VERB
ftr-443	564	29	corporations	corporation	NOUN
ftr-443	564	30	with	with	ADP
ftr-443	564	31	respect	respect	NOUN
ftr-443	564	32	to	to	ADP
ftr-443	564	33	contributions	contribution	NOUN
ftr-443	564	34	of	of	ADP
ftr-443	564	35	property	property	NOUN
ftr-443	564	36	.	.	PUNCT
ftr-443	565	1	first	first	ADV
ftr-443	565	2	,	,	PUNCT
ftr-443	565	3	the	the	DET
ftr-443	565	4	character	character	NOUN
ftr-443	565	5	of	of	ADP
ftr-443	565	6	property	property	NOUN
ftr-443	565	7	held	hold	VERB
ftr-443	565	8	by	by	ADP
ftr-443	565	9	a	a	DET
ftr-443	565	10	corporation	corporation	NOUN
ftr-443	565	11	is	be	AUX
ftr-443	565	12	usually	usually	ADV
ftr-443	565	13	determined	determine	VERB
ftr-443	565	14	by	by	ADP
ftr-443	565	15	reference	reference	NOUN
ftr-443	565	16	to	to	ADP
ftr-443	565	17	the	the	DET
ftr-443	565	18	corporation	corporation	NOUN
ftr-443	565	19	's	's	PART
ftr-443	565	20	purpose	purpose	NOUN
ftr-443	565	21	in	in	ADP
ftr-443	565	22	acquiring	acquire	VERB
ftr-443	565	23	and	and	CCONJ
ftr-443	565	24	holding	hold	VERB
ftr-443	565	25	the	the	DET
ftr-443	565	26	property	property	NOUN
ftr-443	565	27	.	.	PUNCT
ftr-443	566	1	thus	thus	ADV
ftr-443	566	2	,	,	PUNCT
ftr-443	566	3	if	if	SCONJ
ftr-443	566	4	a	a	DET
ftr-443	566	5	shareholder	shareholder	NOUN
ftr-443	566	6	contributes	contribute	VERB
ftr-443	566	7	inventory	inventory	NOUN
ftr-443	566	8	or	or	CCONJ
ftr-443	566	9	dealer	dealer	NOUN
ftr-443	566	10	property	property	NOUN
ftr-443	566	11	to	to	ADP
ftr-443	566	12	an	an	DET
ftr-443	566	13	s	s	NOUN
ftr-443	566	14	corporation	corporation	NOUN
ftr-443	566	15	,	,	PUNCT
ftr-443	566	16	the	the	DET
ftr-443	566	17	dealer	dealer	NOUN
ftr-443	566	18	or	or	CCONJ
ftr-443	566	19	inventory	inventory	NOUN
ftr-443	566	20	taint	taint	NOUN
ftr-443	566	21	76does	76doe	NOUN
ftr-443	566	22	not	not	PART
ftr-443	566	23	automatically	automatically	ADV
ftr-443	566	24	remain	remain	VERB
ftr-443	566	25	.	.	PUNCT
ftr-443	567	1	assume	assume	VERB
ftr-443	567	2	a	a	DET
ftr-443	567	3	real	real	ADJ
ftr-443	567	4	estate	estate	NOUN
ftr-443	567	5	developer	developer	NOUN
ftr-443	567	6	,	,	PUNCT
ftr-443	567	7	who	who	PRON
ftr-443	567	8	has	have	AUX
ftr-443	567	9	held	hold	VERB
ftr-443	567	10	a	a	DET
ftr-443	567	11	tract	tract	NOUN
ftr-443	567	12	of	of	ADP
ftr-443	567	13	land	land	NOUN
ftr-443	567	14	for	for	ADP
ftr-443	567	15	development	development	NOUN
ftr-443	567	16	while	while	SCONJ
ftr-443	567	17	it	it	PRON
ftr-443	567	18	has	have	AUX
ftr-443	567	19	substantially	substantially	ADV
ftr-443	567	20	appreciated	appreciate	VERB
ftr-443	567	21	,	,	PUNCT
ftr-443	567	22	contributes	contribute	VERB
ftr-443	567	23	it	it	PRON
ftr-443	567	24	to	to	ADP
ftr-443	567	25	an	an	DET
ftr-443	567	26	s	s	NOUN
ftr-443	567	27	corporation	corporation	NOUN
ftr-443	567	28	that	that	PRON
ftr-443	567	29	she	she	PRON
ftr-443	567	30	organizes	organize	VERB
ftr-443	567	31	with	with	ADP
ftr-443	567	32	other	other	ADJ
ftr-443	567	33	investors	investor	NOUN
ftr-443	567	34	,	,	PUNCT
ftr-443	567	35	and	and	CCONJ
ftr-443	567	36	the	the	DET
ftr-443	567	37	corporation	corporation	NOUN
ftr-443	567	38	constructs	construct	VERB
ftr-443	567	39	an	an	DET
ftr-443	567	40	apartment	apartment	NOUN
ftr-443	567	41	or	or	CCONJ
ftr-443	567	42	office	office	NOUN
ftr-443	567	43	building	building	NOUN
ftr-443	567	44	on	on	ADP
ftr-443	567	45	the	the	DET
ftr-443	567	46	property	property	NOUN
ftr-443	567	47	.	.	PUNCT
ftr-443	568	1	gain	gain	VERB
ftr-443	568	2	on	on	ADP
ftr-443	568	3	a	a	DET
ftr-443	568	4	subsequent	subsequent	ADJ
ftr-443	568	5	sale	sale	NOUN
ftr-443	568	6	of	of	ADP
ftr-443	568	7	the	the	DET
ftr-443	568	8	property	property	NOUN
ftr-443	568	9	may	may	AUX
ftr-443	568	10	be	be	AUX
ftr-443	568	11	section	section	NOUN
ftr-443	568	12	1231	1231	NUM
ftr-443	568	13	gain	gain	NOUN
ftr-443	568	14	,	,	PUNCT
ftr-443	568	15	even	even	ADV
ftr-443	568	16	though	though	SCONJ
ftr-443	568	17	it	it	PRON
ftr-443	568	18	would	would	AUX
ftr-443	568	19	have	have	AUX
ftr-443	568	20	been	be	AUX
ftr-443	568	21	ordinary	ordinary	ADJ
ftr-443	568	22	income	income	NOUN
ftr-443	568	23	if	if	SCONJ
ftr-443	568	24	the	the	DET
ftr-443	568	25	developer	developer	NOUN
ftr-443	568	26	had	have	AUX
ftr-443	568	27	constructed	construct	VERB
ftr-443	568	28	the	the	DET
ftr-443	568	29	building	building	NOUN
ftr-443	568	30	.	.	PUNCT
ftr-443	569	1	a	a	DET
ftr-443	569	2	second	second	ADJ
ftr-443	569	3	subchapter	subchapter	NOUN
ftr-443	569	4	s	s	PART
ftr-443	569	5	benefit	benefit	NOUN
ftr-443	569	6	from	from	ADP
ftr-443	569	7	the	the	DET
ftr-443	569	8	same	same	ADJ
ftr-443	569	9	scenario	scenario	NOUN
ftr-443	569	10	is	be	AUX
ftr-443	569	11	that	that	SCONJ
ftr-443	569	12	the	the	DET
ftr-443	569	13	developer	developer	NOUN
ftr-443	569	14	's	's	PART
ftr-443	569	15	pre	pre	NOUN
ftr-443	569	16	-	-	NOUN
ftr-443	569	17	contribution	contribution	NOUN
ftr-443	569	18	built	build	VERB
ftr-443	569	19	-	-	PUNCT
ftr-443	569	20	in	in	ADP
ftr-443	569	21	gain	gain	NOUN
ftr-443	569	22	is	be	AUX
ftr-443	569	23	not	not	PART
ftr-443	569	24	allocable	allocable	ADJ
ftr-443	569	25	to	to	ADP
ftr-443	569	26	him	he	PRON
ftr-443	569	27	.	.	PUNCT
ftr-443	570	1	instead	instead	ADV
ftr-443	570	2	,	,	PUNCT
ftr-443	570	3	the	the	DET
ftr-443	570	4	gain	gain	NOUN
ftr-443	570	5	,	,	PUNCT
ftr-443	570	6	like	like	ADP
ftr-443	570	7	all	all	DET
ftr-443	570	8	other	other	ADJ
ftr-443	570	9	items	item	NOUN
ftr-443	570	10	of	of	ADP
ftr-443	570	11	the	the	DET
ftr-443	570	12	corporation	corporation	NOUN
ftr-443	570	13	's	's	PART
ftr-443	570	14	income	income	NOUN
ftr-443	570	15	,	,	PUNCT
ftr-443	570	16	is	be	AUX
ftr-443	570	17	allocated	allocate	VERB
ftr-443	570	18	among	among	ADP
ftr-443	570	19	the	the	DET
ftr-443	570	20	shareholders	shareholder	NOUN
ftr-443	570	21	in	in	ADP
ftr-443	570	22	proportion	proportion	NOUN
ftr-443	570	23	to	to	ADP
ftr-443	570	24	their	their	PRON
ftr-443	570	25	stock	stock	NOUN
ftr-443	570	26	ownership	ownership	NOUN
ftr-443	570	27	in	in	ADP
ftr-443	570	28	the	the	DET
ftr-443	570	29	year	year	NOUN
ftr-443	570	30	of	of	ADP
ftr-443	570	31	sale	sale	NOUN
ftr-443	570	32	.	.	PUNCT
ftr-443	570	33	'	'	PUNCT
ftr-443	571	1	contributions	contribution	NOUN
ftr-443	571	2	of	of	ADP
ftr-443	571	3	capital	capital	NOUN
ftr-443	571	4	assets	asset	NOUN
ftr-443	571	5	may	may	AUX
ftr-443	571	6	bring	bring	VERB
ftr-443	571	7	opposite	opposite	ADJ
ftr-443	571	8	results	result	NOUN
ftr-443	571	9	.	.	PUNCT
ftr-443	572	1	assume	assume	VERB
ftr-443	572	2	an	an	DET
ftr-443	572	3	investor	investor	NOUN
ftr-443	572	4	contributes	contribute	VERB
ftr-443	572	5	loss	loss	NOUN
ftr-443	572	6	property	property	NOUN
ftr-443	572	7	held	hold	VERB
ftr-443	572	8	for	for	ADP
ftr-443	572	9	investment	investment	NOUN
ftr-443	572	10	to	to	ADP
ftr-443	572	11	an	an	DET
ftr-443	572	12	s	s	NOUN
ftr-443	572	13	corporation	corporation	NOUN
ftr-443	572	14	.	.	PUNCT
ftr-443	573	1	the	the	DET
ftr-443	573	2	investor	investor	NOUN
ftr-443	573	3	would	would	AUX
ftr-443	573	4	have	have	AUX
ftr-443	573	5	had	have	VERB
ftr-443	573	6	capital	capital	NOUN
ftr-443	573	7	loss	loss	NOUN
ftr-443	573	8	on	on	ADP
ftr-443	573	9	a	a	DET
ftr-443	573	10	sale	sale	NOUN
ftr-443	573	11	of	of	ADP
ftr-443	573	12	the	the	DET
ftr-443	573	13	property	property	NOUN
ftr-443	573	14	before	before	ADP
ftr-443	573	15	the	the	DET
ftr-443	573	16	contribution	contribution	NOUN
ftr-443	573	17	.	.	PUNCT
ftr-443	574	1	if	if	SCONJ
ftr-443	574	2	the	the	DET
ftr-443	574	3	s	s	PROPN
ftr-443	574	4	corporation	corporation	NOUN
ftr-443	574	5	develops	develop	VERB
ftr-443	574	6	the	the	DET
ftr-443	574	7	property	property	NOUN
ftr-443	574	8	for	for	ADP
ftr-443	574	9	sale	sale	NOUN
ftr-443	574	10	to	to	ADP
ftr-443	574	11	customers	customer	NOUN
ftr-443	574	12	,	,	PUNCT
ftr-443	574	13	loss	loss	NOUN
ftr-443	574	14	on	on	ADP
ftr-443	574	15	its	its	PRON
ftr-443	574	16	sale	sale	NOUN
ftr-443	574	17	of	of	ADP
ftr-443	574	18	the	the	DET
ftr-443	574	19	property	property	NOUN
ftr-443	574	20	will	will	AUX
ftr-443	574	21	be	be	AUX
ftr-443	574	22	ordinary	ordinary	ADJ
ftr-443	574	23	.	.	PUNCT
ftr-443	575	1	as	as	ADP
ftr-443	575	2	with	with	ADP
ftr-443	575	3	the	the	DET
ftr-443	575	4	gain	gain	NOUN
ftr-443	575	5	,	,	PUNCT
ftr-443	575	6	the	the	DET
ftr-443	575	7	investor	investor	NOUN
ftr-443	575	8	's	's	PART
ftr-443	575	9	precontribution	precontribution	NOUN
ftr-443	575	10	built	build	VERB
ftr-443	575	11	-	-	PUNCT
ftr-443	575	12	in	in	ADP
ftr-443	575	13	loss	loss	NOUN
ftr-443	575	14	will	will	AUX
ftr-443	575	15	,	,	PUNCT
ftr-443	575	16	when	when	SCONJ
ftr-443	575	17	realized	realize	VERB
ftr-443	575	18	by	by	ADP
ftr-443	575	19	the	the	DET
ftr-443	575	20	corporation	corporation	NOUN
ftr-443	575	21	,	,	PUNCT
ftr-443	575	22	be	be	AUX
ftr-443	575	23	allocated	allocate	VERB
ftr-443	575	24	among	among	ADP
ftr-443	575	25	all	all	DET
ftr-443	575	26	shareholders	shareholder	NOUN
ftr-443	575	27	in	in	ADP
ftr-443	575	28	proportion	proportion	NOUN
ftr-443	575	29	to	to	ADP
ftr-443	575	30	their	their	PRON
ftr-443	575	31	daily	daily	ADJ
ftr-443	575	32	stock	stock	NOUN
ftr-443	575	33	ownership	ownership	NOUN
ftr-443	575	34	during	during	ADP
ftr-443	575	35	the	the	DET
ftr-443	575	36	year	year	NOUN
ftr-443	575	37	of	of	ADP
ftr-443	575	38	the	the	DET
ftr-443	575	39	sale	sale	NOUN
ftr-443	575	40	.	.	PUNCT
ftr-443	576	1	such	such	ADJ
ftr-443	576	2	changes	change	NOUN
ftr-443	576	3	in	in	ADP
ftr-443	576	4	character	character	NOUN
ftr-443	576	5	and	and	CCONJ
ftr-443	576	6	shifts	shift	NOUN
ftr-443	576	7	in	in	ADP
ftr-443	576	8	gain	gain	NOUN
ftr-443	576	9	or	or	CCONJ
ftr-443	576	10	loss	loss	NOUN
ftr-443	576	11	are	be	AUX
ftr-443	576	12	less	less	ADV
ftr-443	576	13	likely	likely	ADJ
ftr-443	576	14	to	to	PART
ftr-443	576	15	occur	occur	VERB
ftr-443	576	16	when	when	SCONJ
ftr-443	576	17	property	property	NOUN
ftr-443	576	18	is	be	AUX
ftr-443	576	19	transferred	transfer	VERB
ftr-443	576	20	to	to	ADP
ftr-443	576	21	a	a	DET
ftr-443	576	22	partnership	partnership	NOUN
ftr-443	576	23	.	.	PUNCT
ftr-443	577	1	in	in	ADP
ftr-443	577	2	contrast	contrast	NOUN
ftr-443	577	3	to	to	ADP
ftr-443	577	4	the	the	DET
ftr-443	577	5	s	s	PROPN
ftr-443	577	6	corporation	corporation	NOUN
ftr-443	577	7	approach	approach	NOUN
ftr-443	577	8	,	,	PUNCT
ftr-443	577	9	which	which	PRON
ftr-443	577	10	looks	look	VERB
ftr-443	577	11	to	to	ADP
ftr-443	577	12	the	the	DET
ftr-443	577	13	entity	entity	NOUN
ftr-443	577	14	's	's	PART
ftr-443	577	15	purpose	purpose	NOUN
ftr-443	577	16	in	in	ADP
ftr-443	577	17	holding	hold	VERB
ftr-443	577	18	an	an	DET
ftr-443	577	19	asset	asset	NOUN
ftr-443	577	20	contributed	contribute	VERB
ftr-443	577	21	by	by	ADP
ftr-443	577	22	a	a	DET
ftr-443	577	23	shareholder	shareholder	NOUN
ftr-443	577	24	,	,	PUNCT
ftr-443	577	25	section	section	NOUN
ftr-443	577	26	724	724	NUM
ftr-443	577	27	often	often	ADV
ftr-443	577	28	fixes	fix	VERB
ftr-443	577	29	asset	asset	NOUN
ftr-443	577	30	characterization	characterization	NOUN
ftr-443	577	31	,	,	PUNCT
ftr-443	577	32	providing	provide	VERB
ftr-443	577	33	that	that	PRON
ftr-443	577	34	contributed	contribute	VERB
ftr-443	577	35	property	property	NOUN
ftr-443	577	36	that	that	PRON
ftr-443	577	37	was	be	AUX
ftr-443	577	38	an	an	DET
ftr-443	577	39	unrealized	unrealized	ADJ
ftr-443	577	40	receivable	receivable	NOUN
ftr-443	577	41	,	,	PUNCT
ftr-443	577	42	inventory	inventory	NOUN
ftr-443	577	43	,	,	PUNCT
ftr-443	577	44	or	or	CCONJ
ftr-443	577	45	capital	capital	NOUN
ftr-443	577	46	loss	loss	NOUN
ftr-443	577	47	property	property	NOUN
ftr-443	577	48	in	in	ADP
ftr-443	577	49	the	the	DET
ftr-443	577	50	contributing	contribute	VERB
ftr-443	577	51	partner	partner	NOUN
ftr-443	577	52	's	's	PART
ftr-443	577	53	hands	hand	NOUN
ftr-443	577	54	retains	retain	VERB
ftr-443	577	55	this	this	DET
ftr-443	577	56	character	character	NOUN
ftr-443	577	57	in	in	ADP
ftr-443	577	58	the	the	DET
ftr-443	577	59	hands	hand	NOUN
ftr-443	577	60	of	of	ADP
ftr-443	577	61	the	the	DET
ftr-443	577	62	partnership	partnership	NOUN
ftr-443	577	63	for	for	ADP
ftr-443	577	64	five	five	NUM
ftr-443	577	65	years	year	NOUN
ftr-443	577	66	after	after	ADP
ftr-443	577	67	the	the	DET
ftr-443	577	68	contribution	contribution	NOUN
ftr-443	577	69	.	.	PUNCT
ftr-443	578	1	appreciated	appreciated	ADJ
ftr-443	578	2	capital	capital	NOUN
ftr-443	578	3	gain	gain	NOUN
ftr-443	578	4	property	property	NOUN
ftr-443	578	5	,	,	PUNCT
ftr-443	578	6	however	however	ADV
ftr-443	578	7	,	,	PUNCT
ftr-443	578	8	is	be	AUX
ftr-443	578	9	not	not	PART
ftr-443	578	10	subject	subject	ADJ
ftr-443	578	11	to	to	ADP
ftr-443	578	12	section	section	NOUN
ftr-443	578	13	724	724	NUM
ftr-443	578	14	and	and	CCONJ
ftr-443	578	15	can	can	AUX
ftr-443	578	16	be	be	AUX
ftr-443	578	17	immediately	immediately	ADV
ftr-443	578	18	recharacterized	recharacterize	VERB
ftr-443	578	19	as	as	ADP
ftr-443	578	20	a	a	DET
ftr-443	578	21	noncapital	noncapital	ADJ
ftr-443	578	22	asset	asset	NOUN
ftr-443	578	23	by	by	ADP
ftr-443	578	24	virtue	virtue	NOUN
ftr-443	578	25	of	of	ADP
ftr-443	578	26	partnership	partnership	NOUN
ftr-443	578	27	activities	activity	NOUN
ftr-443	578	28	.	.	PUNCT
ftr-443	579	1	also	also	ADV
ftr-443	579	2	,	,	PUNCT
ftr-443	579	3	under	under	ADP
ftr-443	579	4	section	section	NOUN
ftr-443	579	5	704(c	704(c	PROPN
ftr-443	579	6	)	)	PUNCT
ftr-443	579	7	,	,	PUNCT
ftr-443	579	8	precontribution	precontribution	NOUN
ftr-443	579	9	built	build	VERB
ftr-443	579	10	-	-	PUNCT
ftr-443	579	11	in	in	ADP
ftr-443	579	12	gain	gain	NOUN
ftr-443	579	13	or	or	CCONJ
ftr-443	579	14	loss	loss	NOUN
ftr-443	579	15	must	must	AUX
ftr-443	579	16	be	be	AUX
ftr-443	579	17	allocated	allocate	VERB
ftr-443	579	18	back	back	ADV
ftr-443	579	19	to	to	ADP
ftr-443	579	20	the	the	DET
ftr-443	579	21	contributing	contribute	VERB
ftr-443	579	22	partner	partner	NOUN
ftr-443	579	23	when	when	SCONJ
ftr-443	579	24	it	it	PRON
ftr-443	579	25	is	be	AUX
ftr-443	579	26	realized	realize	VERB
ftr-443	579	27	by	by	ADP
ftr-443	579	28	the	the	DET
ftr-443	579	29	partnership	partnership	NOUN
ftr-443	579	30	.	.	PUNCT
ftr-443	580	1	the	the	DET
ftr-443	580	2	partner	partner	NOUN
ftr-443	580	3	may	may	AUX
ftr-443	580	4	be	be	AUX
ftr-443	580	5	required	require	VERB
ftr-443	580	6	to	to	PART
ftr-443	580	7	recognize	recognize	VERB
ftr-443	580	8	precontribution	precontribution	NOUN
ftr-443	580	9	gain	gain	NOUN
ftr-443	580	10	76	76	NUM
ftr-443	580	11	.	.	PUNCT
ftr-443	581	1	this	this	PRON
ftr-443	581	2	is	be	AUX
ftr-443	581	3	not	not	PART
ftr-443	581	4	to	to	PART
ftr-443	581	5	suggest	suggest	VERB
ftr-443	581	6	that	that	SCONJ
ftr-443	581	7	the	the	DET
ftr-443	581	8	service	service	NOUN
ftr-443	581	9	would	would	AUX
ftr-443	581	10	not	not	PART
ftr-443	581	11	raise	raise	VERB
ftr-443	581	12	a	a	DET
ftr-443	581	13	challenge	challenge	NOUN
ftr-443	581	14	if	if	SCONJ
ftr-443	581	15	it	it	PRON
ftr-443	581	16	perceived	perceive	VERB
ftr-443	581	17	an	an	DET
ftr-443	581	18	abuse	abuse	NOUN
ftr-443	581	19	.	.	PUNCT
ftr-443	582	1	see	see	VERB
ftr-443	582	2	bouno	bouno	PROPN
ftr-443	582	3	v.	v.	PROPN
ftr-443	582	4	commissioner	commissioner	PROPN
ftr-443	582	5	,	,	PUNCT
ftr-443	582	6	74	74	NUM
ftr-443	582	7	t.c	t.c	PROPN
ftr-443	582	8	.	.	PROPN
ftr-443	582	9	187	187	NUM
ftr-443	582	10	(	(	PUNCT
ftr-443	582	11	1980	1980	NUM
ftr-443	582	12	)	)	PUNCT
ftr-443	582	13	,	,	PUNCT
ftr-443	582	14	acq	acq	PROPN
ftr-443	582	15	.	.	PROPN
ftr-443	582	16	1981	1981	NUM
ftr-443	582	17	-	-	SYM
ftr-443	582	18	1	1	NUM
ftr-443	582	19	c.b	c.b	PROPN
ftr-443	582	20	.	.	PROPN
ftr-443	582	21	1	1	NUM
ftr-443	582	22	;	;	PUNCT
ftr-443	582	23	see	see	VERB
ftr-443	582	24	also	also	ADV
ftr-443	582	25	irc	irc	VERB
ftr-443	582	26	§	§	PROPN
ftr-443	582	27	341(e	341(e	PROPN
ftr-443	582	28	)	)	PUNCT
ftr-443	582	29	.	.	PUNCT
ftr-443	583	1	77	77	NUM
ftr-443	583	2	.	.	PUNCT
ftr-443	584	1	see	see	VERB
ftr-443	584	2	irc	irc	PROPN
ftr-443	584	3	§	§	PROPN
ftr-443	584	4	1366(a	1366(a	NUM
ftr-443	584	5	)	)	PUNCT
ftr-443	584	6	.	.	PUNCT
ftr-443	585	1	19991	19991	NUM
ftr-443	585	2	florida	florida	PROPN
ftr-443	585	3	tax	tax	NOUN
ftr-443	585	4	review	review	NOUN
ftr-443	585	5	before	before	SCONJ
ftr-443	585	6	the	the	DET
ftr-443	585	7	partnership	partnership	NOUN
ftr-443	585	8	realizes	realize	VERB
ftr-443	585	9	it	it	PRON
ftr-443	585	10	if	if	SCONJ
ftr-443	585	11	the	the	DET
ftr-443	585	12	partner	partner	NOUN
ftr-443	585	13	receives	receive	VERB
ftr-443	585	14	a	a	DET
ftr-443	585	15	large	large	ADJ
ftr-443	585	16	distribution	distribution	NOUN
ftr-443	585	17	from	from	ADP
ftr-443	585	18	the	the	DET
ftr-443	585	19	partnership	partnership	NOUN
ftr-443	585	20	within	within	ADP
ftr-443	585	21	five	five	NUM
ftr-443	585	22	years	year	NOUN
ftr-443	585	23	after	after	SCONJ
ftr-443	585	24	the	the	DET
ftr-443	585	25	contribution.78	contribution.78	PROPN
ftr-443	585	26	the	the	DET
ftr-443	585	27	partner	partner	NOUN
ftr-443	585	28	must	must	AUX
ftr-443	585	29	also	also	ADV
ftr-443	585	30	recognize	recognize	VERB
ftr-443	585	31	precontribution	precontribution	NOUN
ftr-443	585	32	gain	gain	NOUN
ftr-443	585	33	or	or	CCONJ
ftr-443	585	34	loss	loss	NOUN
ftr-443	585	35	if	if	SCONJ
ftr-443	585	36	the	the	DET
ftr-443	585	37	contributed	contributed	ADJ
ftr-443	585	38	property	property	NOUN
ftr-443	585	39	is	be	AUX
ftr-443	585	40	distributed	distribute	VERB
ftr-443	585	41	to	to	ADP
ftr-443	585	42	another	another	DET
ftr-443	585	43	partner	partner	NOUN
ftr-443	585	44	within	within	ADP
ftr-443	585	45	seven	seven	NUM
ftr-443	585	46	years	year	NOUN
ftr-443	585	47	after	after	ADP
ftr-443	585	48	the	the	DET
ftr-443	585	49	contribution.79	contribution.79	PROPN
ftr-443	585	50	moreover	moreover	ADV
ftr-443	585	51	,	,	PUNCT
ftr-443	585	52	if	if	SCONJ
ftr-443	585	53	a	a	DET
ftr-443	585	54	contribution	contribution	NOUN
ftr-443	585	55	of	of	ADP
ftr-443	585	56	property	property	NOUN
ftr-443	585	57	is	be	AUX
ftr-443	585	58	followed	follow	VERB
ftr-443	585	59	shortly	shortly	ADV
ftr-443	585	60	(	(	PUNCT
ftr-443	585	61	e.g.	e.g.	ADV
ftr-443	585	62	,	,	PUNCT
ftr-443	585	63	within	within	ADP
ftr-443	585	64	2	2	NUM
ftr-443	585	65	years	year	NOUN
ftr-443	585	66	)	)	PUNCT
ftr-443	585	67	by	by	ADP
ftr-443	585	68	a	a	DET
ftr-443	585	69	distribution	distribution	NOUN
ftr-443	585	70	to	to	ADP
ftr-443	585	71	the	the	DET
ftr-443	585	72	contributing	contribute	VERB
ftr-443	585	73	partner	partner	NOUN
ftr-443	585	74	,	,	PUNCT
ftr-443	585	75	the	the	DET
ftr-443	585	76	contribution	contribution	NOUN
ftr-443	585	77	may	may	AUX
ftr-443	585	78	be	be	AUX
ftr-443	585	79	recharacterized	recharacterize	VERB
ftr-443	585	80	as	as	ADP
ftr-443	585	81	a	a	DET
ftr-443	585	82	sale.8	sale.8	NOUN
ftr-443	585	83	"	"	PUNCT
ftr-443	585	84	subchapter	subchapter	NOUN
ftr-443	585	85	s	s	PART
ftr-443	585	86	has	have	VERB
ftr-443	585	87	no	no	DET
ftr-443	585	88	analogues	analogue	NOUN
ftr-443	585	89	,	,	PUNCT
ftr-443	585	90	except	except	SCONJ
ftr-443	585	91	that	that	SCONJ
ftr-443	585	92	a	a	DET
ftr-443	585	93	corporation	corporation	NOUN
ftr-443	585	94	recognizes	recognize	VERB
ftr-443	585	95	gain	gain	NOUN
ftr-443	585	96	under	under	ADP
ftr-443	585	97	section	section	NOUN
ftr-443	585	98	311(b	311(b	PROPN
ftr-443	585	99	)	)	PUNCT
ftr-443	585	100	on	on	ADP
ftr-443	585	101	any	any	DET
ftr-443	585	102	distribution	distribution	NOUN
ftr-443	585	103	of	of	ADP
ftr-443	585	104	appreciated	appreciated	ADJ
ftr-443	585	105	property	property	NOUN
ftr-443	585	106	.	.	PUNCT
ftr-443	586	1	since	since	SCONJ
ftr-443	586	2	a	a	DET
ftr-443	586	3	single	single	ADJ
ftr-443	586	4	member	member	NOUN
ftr-443	586	5	llc	llc	PROPN
ftr-443	586	6	is	be	AUX
ftr-443	586	7	disregarded	disregard	VERB
ftr-443	586	8	for	for	ADP
ftr-443	586	9	federal	federal	ADJ
ftr-443	586	10	tax	tax	NOUN
ftr-443	586	11	purposes	purpose	NOUN
ftr-443	586	12	unless	unless	SCONJ
ftr-443	586	13	it	it	PRON
ftr-443	586	14	elects	elect	VERB
ftr-443	586	15	to	to	PART
ftr-443	586	16	be	be	AUX
ftr-443	586	17	taxed	tax	VERB
ftr-443	586	18	as	as	ADP
ftr-443	586	19	an	an	DET
ftr-443	586	20	association	association	NOUN
ftr-443	586	21	,	,	PUNCT
ftr-443	586	22	gains	gain	NOUN
ftr-443	586	23	and	and	CCONJ
ftr-443	586	24	losses	loss	NOUN
ftr-443	586	25	realized	realize	VERB
ftr-443	586	26	by	by	ADP
ftr-443	586	27	the	the	DET
ftr-443	586	28	entity	entity	NOUN
ftr-443	586	29	are	be	AUX
ftr-443	586	30	taxed	tax	VERB
ftr-443	586	31	to	to	ADP
ftr-443	586	32	the	the	DET
ftr-443	586	33	owner	owner	NOUN
ftr-443	586	34	in	in	ADP
ftr-443	586	35	precisely	precisely	ADV
ftr-443	586	36	the	the	DET
ftr-443	586	37	way	way	NOUN
ftr-443	586	38	in	in	ADP
ftr-443	586	39	which	which	PRON
ftr-443	586	40	they	they	PRON
ftr-443	586	41	would	would	AUX
ftr-443	586	42	have	have	AUX
ftr-443	586	43	been	be	AUX
ftr-443	586	44	taxed	tax	VERB
ftr-443	586	45	if	if	SCONJ
ftr-443	586	46	the	the	DET
ftr-443	586	47	entity	entity	NOUN
ftr-443	586	48	had	have	AUX
ftr-443	586	49	not	not	PART
ftr-443	586	50	been	be	AUX
ftr-443	586	51	organized	organize	VERB
ftr-443	586	52	.	.	PUNCT
ftr-443	587	1	9	9	X
ftr-443	587	2	.	.	X
ftr-443	587	3	services	service	NOUN
ftr-443	587	4	provided	provide	VERB
ftr-443	587	5	in	in	ADP
ftr-443	587	6	exchange	exchange	NOUN
ftr-443	587	7	for	for	ADP
ftr-443	587	8	equity	equity	NOUN
ftr-443	587	9	lnterests.-if	lnterests.-if	ADP
ftr-443	587	10	a	a	DET
ftr-443	587	11	member	member	NOUN
ftr-443	587	12	of	of	ADP
ftr-443	587	13	an	an	DET
ftr-443	587	14	llc	llc	NOUN
ftr-443	587	15	receives	receive	VERB
ftr-443	587	16	a	a	DET
ftr-443	587	17	capital	capital	NOUN
ftr-443	587	18	interest	interest	NOUN
ftr-443	587	19	in	in	ADP
ftr-443	587	20	exchange	exchange	NOUN
ftr-443	587	21	for	for	ADP
ftr-443	587	22	services	service	NOUN
ftr-443	587	23	,	,	PUNCT
ftr-443	587	24	the	the	DET
ftr-443	587	25	transfer	transfer	NOUN
ftr-443	587	26	falls	fall	VERB
ftr-443	587	27	outside	outside	ADV
ftr-443	587	28	of	of	ADP
ftr-443	587	29	section	section	NOUN
ftr-443	587	30	721	721	NUM
ftr-443	587	31	,	,	PUNCT
ftr-443	587	32	and	and	CCONJ
ftr-443	587	33	the	the	DET
ftr-443	587	34	value	value	NOUN
ftr-443	587	35	of	of	ADP
ftr-443	587	36	the	the	DET
ftr-443	587	37	interest	interest	NOUN
ftr-443	587	38	is	be	AUX
ftr-443	587	39	a	a	DET
ftr-443	587	40	guaranteed	guarantee	VERB
ftr-443	587	41	payment	payment	NOUN
ftr-443	587	42	,	,	PUNCT
ftr-443	587	43	includable	includable	ADJ
ftr-443	587	44	in	in	ADP
ftr-443	587	45	the	the	DET
ftr-443	587	46	recipient	recipient	NOUN
ftr-443	587	47	's	's	PART
ftr-443	587	48	gross	gross	PROPN
ftr-443	587	49	income.8	income.8	PROPN
ftr-443	587	50	'	'	PUNCT
ftr-443	587	51	a	a	DET
ftr-443	587	52	capital	capital	NOUN
ftr-443	587	53	interest	interest	NOUN
ftr-443	587	54	for	for	ADP
ftr-443	587	55	services	service	NOUN
ftr-443	587	56	may	may	AUX
ftr-443	587	57	also	also	ADV
ftr-443	587	58	have	have	VERB
ftr-443	587	59	tax	tax	NOUN
ftr-443	587	60	consequences	consequence	NOUN
ftr-443	587	61	for	for	ADP
ftr-443	587	62	the	the	DET
ftr-443	587	63	other	other	ADJ
ftr-443	587	64	members.82	members.82	NOUN
ftr-443	587	65	efforts	effort	NOUN
ftr-443	587	66	are	be	AUX
ftr-443	587	67	frequently	frequently	ADV
ftr-443	587	68	made	make	VERB
ftr-443	587	69	,	,	PUNCT
ftr-443	587	70	sometimes	sometimes	ADV
ftr-443	587	71	successfully	successfully	ADV
ftr-443	587	72	,	,	PUNCT
ftr-443	587	73	to	to	PART
ftr-443	587	74	achieve	achieve	VERB
ftr-443	587	75	tax	tax	NOUN
ftr-443	587	76	-	-	PUNCT
ftr-443	587	77	free	free	ADJ
ftr-443	587	78	treatment	treatment	NOUN
ftr-443	587	79	under	under	ADP
ftr-443	587	80	section	section	NOUN
ftr-443	587	81	721	721	NUM
ftr-443	587	82	by	by	ADP
ftr-443	587	83	claiming	claim	VERB
ftr-443	587	84	that	that	SCONJ
ftr-443	587	85	the	the	DET
ftr-443	587	86	service	service	NOUN
ftr-443	587	87	provider	provider	NOUN
ftr-443	587	88	contributed	contribute	VERB
ftr-443	587	89	"	"	PUNCT
ftr-443	587	90	property	property	NOUN
ftr-443	587	91	.	.	PUNCT
ftr-443	588	1	"83	"83	PROPN
ftr-443	589	1	if	if	SCONJ
ftr-443	589	2	a	a	DET
ftr-443	589	3	services	service	NOUN
ftr-443	589	4	member	member	NOUN
ftr-443	589	5	receives	receive	VERB
ftr-443	589	6	only	only	ADV
ftr-443	589	7	an	an	DET
ftr-443	589	8	interest	interest	NOUN
ftr-443	589	9	in	in	ADP
ftr-443	589	10	future	future	ADJ
ftr-443	589	11	profits	profit	NOUN
ftr-443	589	12	,	,	PUNCT
ftr-443	589	13	the	the	DET
ftr-443	589	14	service	service	NOUN
ftr-443	589	15	's	's	PART
ftr-443	589	16	position	position	NOUN
ftr-443	589	17	is	be	AUX
ftr-443	589	18	that	that	SCONJ
ftr-443	589	19	receipt	receipt	NOUN
ftr-443	589	20	of	of	ADP
ftr-443	589	21	the	the	DET
ftr-443	589	22	interest	interest	NOUN
ftr-443	589	23	is	be	AUX
ftr-443	589	24	not	not	PART
ftr-443	589	25	taxable	taxable	ADJ
ftr-443	589	26	unless	unless	SCONJ
ftr-443	589	27	there	there	PRON
ftr-443	589	28	is	be	VERB
ftr-443	589	29	a	a	DET
ftr-443	589	30	certain	certain	ADJ
ftr-443	589	31	and	and	CCONJ
ftr-443	589	32	predictable	predictable	ADJ
ftr-443	589	33	stream	stream	NOUN
ftr-443	589	34	of	of	ADP
ftr-443	589	35	income	income	NOUN
ftr-443	589	36	from	from	ADP
ftr-443	589	37	llc	llc	PROPN
ftr-443	589	38	assets	asset	NOUN
ftr-443	589	39	or	or	CCONJ
ftr-443	589	40	the	the	DET
ftr-443	589	41	recipient	recipient	NOUN
ftr-443	589	42	member	member	NOUN
ftr-443	589	43	disposes	dispose	VERB
ftr-443	589	44	of	of	ADP
ftr-443	589	45	the	the	DET
ftr-443	589	46	profits	profit	NOUN
ftr-443	589	47	interest	interest	NOUN
ftr-443	589	48	within	within	ADP
ftr-443	589	49	two	two	NUM
ftr-443	589	50	years	year	NOUN
ftr-443	589	51	.	.	PUNCT
ftr-443	590	1	"4	"4	PROPN
ftr-443	590	2	s	s	PART
ftr-443	590	3	stock	stock	NOUN
ftr-443	590	4	received	receive	VERB
ftr-443	590	5	for	for	ADP
ftr-443	590	6	services	service	NOUN
ftr-443	590	7	is	be	AUX
ftr-443	590	8	taxable	taxable	ADJ
ftr-443	590	9	to	to	ADP
ftr-443	590	10	the	the	DET
ftr-443	590	11	recipient	recipient	NOUN
ftr-443	590	12	if	if	SCONJ
ftr-443	590	13	the	the	DET
ftr-443	590	14	stock	stock	NOUN
ftr-443	590	15	is	be	AUX
ftr-443	590	16	either	either	CCONJ
ftr-443	590	17	nonforfeitable	nonforfeitable	ADJ
ftr-443	590	18	or	or	CCONJ
ftr-443	590	19	transferable	transferable	ADJ
ftr-443	590	20	.	.	PUNCT
ftr-443	591	1	a	a	DET
ftr-443	591	2	corresponding	corresponding	ADJ
ftr-443	591	3	deduction	deduction	NOUN
ftr-443	591	4	is	be	AUX
ftr-443	591	5	allowed	allow	VERB
ftr-443	591	6	to	to	ADP
ftr-443	591	7	78	78	NUM
ftr-443	591	8	.	.	PUNCT
ftr-443	592	1	on	on	ADP
ftr-443	592	2	such	such	DET
ftr-443	592	3	a	a	DET
ftr-443	592	4	distribution	distribution	NOUN
ftr-443	592	5	,	,	PUNCT
ftr-443	592	6	the	the	DET
ftr-443	592	7	contributing	contribute	VERB
ftr-443	592	8	partner	partner	NOUN
ftr-443	592	9	must	must	AUX
ftr-443	592	10	recognize	recognize	VERB
ftr-443	592	11	as	as	ADP
ftr-443	592	12	gain	gain	VERB
ftr-443	592	13	the	the	DET
ftr-443	592	14	lesser	less	ADJ
ftr-443	592	15	of	of	ADP
ftr-443	592	16	(	(	PUNCT
ftr-443	592	17	1	1	X
ftr-443	592	18	)	)	PUNCT
ftr-443	592	19	the	the	DET
ftr-443	592	20	excess	excess	NOUN
ftr-443	592	21	of	of	ADP
ftr-443	592	22	the	the	DET
ftr-443	592	23	distributed	distribute	VERB
ftr-443	592	24	property	property	NOUN
ftr-443	592	25	's	's	PART
ftr-443	592	26	fair	fair	ADJ
ftr-443	592	27	market	market	NOUN
ftr-443	592	28	value	value	NOUN
ftr-443	592	29	over	over	ADP
ftr-443	592	30	the	the	DET
ftr-443	592	31	adjusted	adjusted	ADJ
ftr-443	592	32	basis	basis	NOUN
ftr-443	592	33	of	of	ADP
ftr-443	592	34	the	the	DET
ftr-443	592	35	partner	partner	NOUN
ftr-443	592	36	's	's	PART
ftr-443	592	37	partnership	partnership	NOUN
ftr-443	592	38	interest	interest	NOUN
ftr-443	592	39	or	or	CCONJ
ftr-443	592	40	(	(	PUNCT
ftr-443	592	41	2	2	X
ftr-443	592	42	)	)	PUNCT
ftr-443	592	43	the	the	DET
ftr-443	592	44	previously	previously	ADV
ftr-443	592	45	unrealized	unrealize	VERB
ftr-443	592	46	precontribution	precontribution	NOUN
ftr-443	592	47	gain	gain	NOUN
ftr-443	592	48	.	.	PUNCT
ftr-443	593	1	see	see	VERB
ftr-443	593	2	irc	irc	PROPN
ftr-443	593	3	§	§	PROPN
ftr-443	593	4	737(a	737(a	PROPN
ftr-443	593	5	)	)	PUNCT
ftr-443	593	6	.	.	PUNCT
ftr-443	594	1	79	79	NUM
ftr-443	594	2	.	.	PUNCT
ftr-443	595	1	see	see	VERB
ftr-443	595	2	irc	irc	PROPN
ftr-443	595	3	§	§	PROPN
ftr-443	595	4	704(c)(1)(b	704(c)(1)(b	PROPN
ftr-443	595	5	)	)	PUNCT
ftr-443	595	6	.	.	PUNCT
ftr-443	596	1	80	80	NUM
ftr-443	596	2	.	.	PUNCT
ftr-443	597	1	see	see	VERB
ftr-443	597	2	irc	irc	PROPN
ftr-443	597	3	§	§	PROPN
ftr-443	597	4	707(a)(2)(b	707(a)(2)(b	PROPN
ftr-443	597	5	)	)	PUNCT
ftr-443	597	6	;	;	PUNCT
ftr-443	597	7	regs	reg	NOUN
ftr-443	597	8	.	.	PUNCT
ftr-443	598	1	§	§	PROPN
ftr-443	598	2	1.707	1.707	NUM
ftr-443	598	3	-	-	SYM
ftr-443	598	4	3(c	3(c	NUM
ftr-443	598	5	)	)	PUNCT
ftr-443	598	6	.	.	PUNCT
ftr-443	599	1	see	see	VERB
ftr-443	599	2	also	also	ADV
ftr-443	599	3	regs	reg	VERB
ftr-443	599	4	.	.	PUNCT
ftr-443	600	1	§	§	PROPN
ftr-443	600	2	1.731	1.731	NUM
ftr-443	600	3	-	-	SYM
ftr-443	600	4	1(c)(3	1(c)(3	NUM
ftr-443	600	5	)	)	PUNCT
ftr-443	600	6	;	;	PUNCT
ftr-443	600	7	otey	otey	PROPN
ftr-443	600	8	v.	v.	PROPN
ftr-443	600	9	commissioner	commissioner	PROPN
ftr-443	600	10	,	,	PUNCT
ftr-443	600	11	70	70	NUM
ftr-443	600	12	t.c	t.c	PROPN
ftr-443	600	13	.	.	PROPN
ftr-443	600	14	312	312	NUM
ftr-443	600	15	(	(	PUNCT
ftr-443	600	16	1978	1978	NUM
ftr-443	600	17	)	)	PUNCT
ftr-443	600	18	,	,	PUNCT
ftr-443	600	19	affd	affd	X
ftr-443	600	20	per	per	ADP
ftr-443	600	21	curiam	curiam	NOUN
ftr-443	600	22	,	,	PUNCT
ftr-443	600	23	634	634	NUM
ftr-443	600	24	f.2d	f.2d	NOUN
ftr-443	600	25	1046	1046	NUM
ftr-443	600	26	(	(	PUNCT
ftr-443	600	27	6th	6th	ADJ
ftr-443	600	28	cir	cir	NOUN
ftr-443	600	29	.	.	PUNCT
ftr-443	600	30	1980	1980	NUM
ftr-443	600	31	)	)	PUNCT
ftr-443	600	32	.	.	PUNCT
ftr-443	601	1	81	81	NUM
ftr-443	601	2	.	.	PUNCT
ftr-443	602	1	see	see	VERB
ftr-443	602	2	irc	irc	PROPN
ftr-443	602	3	§	§	PROPN
ftr-443	602	4	§	§	PROPN
ftr-443	602	5	83(a	83(a	NUM
ftr-443	602	6	)	)	PUNCT
ftr-443	602	7	,	,	PUNCT
ftr-443	602	8	707(c	707(c	PROPN
ftr-443	602	9	)	)	PUNCT
ftr-443	602	10	;	;	PUNCT
ftr-443	602	11	regs	reg	NOUN
ftr-443	602	12	.	.	PUNCT
ftr-443	603	1	§	§	PROPN
ftr-443	603	2	1.721	1.721	NUM
ftr-443	603	3	-	-	SYM
ftr-443	603	4	1(b)(2	1(b)(2	NUM
ftr-443	603	5	)	)	PUNCT
ftr-443	603	6	.	.	PUNCT
ftr-443	604	1	82	82	NUM
ftr-443	604	2	.	.	PUNCT
ftr-443	604	3	regs	regs	PROPN
ftr-443	604	4	.	.	PUNCT
ftr-443	605	1	§	§	PROPN
ftr-443	605	2	§	§	PROPN
ftr-443	605	3	1.721	1.721	NUM
ftr-443	605	4	-	-	SYM
ftr-443	605	5	1(b)(1	1(b)(1	NUM
ftr-443	605	6	)	)	PUNCT
ftr-443	605	7	;	;	PUNCT
ftr-443	605	8	1.83	1.83	NUM
ftr-443	605	9	-	-	SYM
ftr-443	605	10	6(b	6(b	NUM
ftr-443	605	11	)	)	PUNCT
ftr-443	605	12	.	.	PUNCT
ftr-443	606	1	83	83	NUM
ftr-443	606	2	.	.	PUNCT
ftr-443	607	1	united	united	PROPN
ftr-443	607	2	states	states	PROPN
ftr-443	607	3	v.	v.	PROPN
ftr-443	607	4	stafford	stafford	PROPN
ftr-443	607	5	,	,	PUNCT
ftr-443	607	6	727	727	NUM
ftr-443	607	7	f.2d	f.2d	NOUN
ftr-443	607	8	1043	1043	NUM
ftr-443	607	9	(	(	PUNCT
ftr-443	607	10	11th	11th	ADJ
ftr-443	607	11	cir	cir	NOUN
ftr-443	607	12	.	.	PUNCT
ftr-443	607	13	1984	1984	NUM
ftr-443	607	14	)	)	PUNCT
ftr-443	607	15	;	;	PUNCT
ftr-443	607	16	united	united	PROPN
ftr-443	607	17	states	states	PROPN
ftr-443	607	18	v.	v.	ADP
ftr-443	607	19	frazell	frazell	PROPN
ftr-443	607	20	,	,	PUNCT
ftr-443	607	21	335	335	NUM
ftr-443	607	22	f.2d	f.2d	ADP
ftr-443	607	23	487	487	NUM
ftr-443	607	24	(	(	PUNCT
ftr-443	607	25	5th	5th	ADJ
ftr-443	607	26	cir	cir	NOUN
ftr-443	607	27	.	.	PUNCT
ftr-443	607	28	1964	1964	NUM
ftr-443	607	29	)	)	PUNCT
ftr-443	607	30	;	;	PUNCT
ftr-443	607	31	ungar	ungar	NOUN
ftr-443	607	32	v.	v.	PROPN
ftr-443	607	33	commissioner	commissioner	PROPN
ftr-443	607	34	,	,	PUNCT
ftr-443	607	35	22	22	NUM
ftr-443	607	36	t.c.m	t.c.m	NOUN
ftr-443	607	37	.	.	PUNCT
ftr-443	608	1	(	(	PUNCT
ftr-443	608	2	cch	cch	NOUN
ftr-443	608	3	)	)	PUNCT
ftr-443	608	4	766	766	NUM
ftr-443	608	5	t.c	t.c	PROPN
ftr-443	608	6	.	.	PROPN
ftr-443	608	7	memo	memo	NOUN
ftr-443	608	8	(	(	PUNCT
ftr-443	608	9	p	p	NOUN
ftr-443	608	10	-	-	PUNCT
ftr-443	608	11	h	h	NOUN
ftr-443	608	12	)	)	PUNCT
ftr-443	608	13	63,159	63,159	NUM
ftr-443	608	14	(	(	PUNCT
ftr-443	608	15	1963	1963	NUM
ftr-443	608	16	)	)	PUNCT
ftr-443	608	17	;	;	PUNCT
ftr-443	608	18	cf	cf	X
ftr-443	608	19	.	.	PUNCT
ftr-443	609	1	rev	rev	PROPN
ftr-443	609	2	.	.	PUNCT
ftr-443	610	1	rul	rul	NOUN
ftr-443	610	2	.	.	PUNCT
ftr-443	611	1	78	78	NUM
ftr-443	611	2	-	-	SYM
ftr-443	611	3	357	357	NUM
ftr-443	611	4	,	,	PUNCT
ftr-443	611	5	1978	1978	NUM
ftr-443	611	6	-	-	SYM
ftr-443	611	7	2	2	NUM
ftr-443	611	8	c.b.227	c.b.227	X
ftr-443	611	9	.	.	PROPN
ftr-443	611	10	84	84	NUM
ftr-443	611	11	.	.	PUNCT
ftr-443	612	1	see	see	VERB
ftr-443	612	2	rev	rev	PROPN
ftr-443	612	3	.	.	PROPN
ftr-443	612	4	proc	proc	PROPN
ftr-443	612	5	.	.	PUNCT
ftr-443	613	1	93	93	NUM
ftr-443	613	2	-	-	SYM
ftr-443	613	3	27	27	NUM
ftr-443	613	4	,	,	PUNCT
ftr-443	613	5	1993	1993	NUM
ftr-443	613	6	-	-	SYM
ftr-443	613	7	2	2	NUM
ftr-443	613	8	c.b	c.b	PROPN
ftr-443	613	9	.	.	PROPN
ftr-443	613	10	343	343	NUM
ftr-443	613	11	;	;	PUNCT
ftr-443	613	12	cf	cf	X
ftr-443	613	13	.	.	PUNCT
ftr-443	614	1	campbell	campbell	PROPN
ftr-443	614	2	v.	v.	PROPN
ftr-443	614	3	commissioner	commissioner	PROPN
ftr-443	614	4	,	,	PUNCT
ftr-443	614	5	943	943	NUM
ftr-443	614	6	f.2d	f.2d	SYM
ftr-443	614	7	815	815	NUM
ftr-443	614	8	(	(	PUNCT
ftr-443	614	9	8th	8th	ADJ
ftr-443	614	10	cir	cir	NOUN
ftr-443	614	11	.	.	PROPN
ftr-443	614	12	1991	1991	NUM
ftr-443	614	13	)	)	PUNCT
ftr-443	614	14	,	,	PUNCT
ftr-443	614	15	rev'g	rev'g	VERB
ftr-443	614	16	59	59	NUM
ftr-443	614	17	t.c.m	t.c.m	NOUN
ftr-443	614	18	.	.	PUNCT
ftr-443	615	1	(	(	PUNCT
ftr-443	615	2	cch	cch	NOUN
ftr-443	615	3	)	)	PUNCT
ftr-443	615	4	236	236	NUM
ftr-443	615	5	t.c	t.c	PROPN
ftr-443	615	6	.	.	PROPN
ftr-443	615	7	memo	memo	NOUN
ftr-443	615	8	(	(	PUNCT
ftr-443	615	9	p	p	NOUN
ftr-443	615	10	-	-	PUNCT
ftr-443	615	11	h	h	NOUN
ftr-443	615	12	)	)	PUNCT
ftr-443	615	13	90,162	90,162	NUM
ftr-443	615	14	(	(	PUNCT
ftr-443	615	15	1990	1990	NUM
ftr-443	615	16	)	)	PUNCT
ftr-443	615	17	.	.	PUNCT
ftr-443	616	1	but	but	CCONJ
ftr-443	616	2	cf	cf	X
ftr-443	616	3	.	.	PUNCT
ftr-443	617	1	diamond	diamond	PROPN
ftr-443	617	2	v.	v.	PROPN
ftr-443	617	3	commissioner	commissioner	PROPN
ftr-443	617	4	,	,	PUNCT
ftr-443	617	5	56	56	NUM
ftr-443	617	6	t.c	t.c	PROPN
ftr-443	617	7	.	.	PROPN
ftr-443	617	8	530	530	NUM
ftr-443	617	9	(	(	PUNCT
ftr-443	617	10	1971	1971	NUM
ftr-443	617	11	)	)	PUNCT
ftr-443	617	12	,	,	PUNCT
ftr-443	617	13	aff'd	aff'd	NOUN
ftr-443	617	14	,	,	PUNCT
ftr-443	617	15	492	492	NUM
ftr-443	617	16	f.2d	f.2d	NOUN
ftr-443	617	17	286	286	NUM
ftr-443	617	18	(	(	PUNCT
ftr-443	617	19	7th	7th	ADJ
ftr-443	617	20	cir	cir	NOUN
ftr-443	617	21	.	.	PROPN
ftr-443	617	22	1974	1974	NUM
ftr-443	617	23	)	)	PUNCT
ftr-443	617	24	.	.	PUNCT
ftr-443	618	1	[	[	X
ftr-443	618	2	vol	vol	NOUN
ftr-443	618	3	4:3	4:3	NUM
ftr-443	618	4	benefits	benefit	NOUN
ftr-443	618	5	and	and	CCONJ
ftr-443	618	6	burdens	burden	NOUN
ftr-443	618	7	of	of	ADP
ftr-443	618	8	subchapter	subchapter	NOUN
ftr-443	618	9	s	s	VERB
ftr-443	618	10	the	the	DET
ftr-443	618	11	corporation	corporation	NOUN
ftr-443	618	12	or	or	CCONJ
ftr-443	618	13	imputed	impute	VERB
ftr-443	618	14	transferor	transferor	NOUN
ftr-443	618	15	.	.	PUNCT
ftr-443	618	16	'	'	PUNCT
ftr-443	619	1	as	as	ADP
ftr-443	619	2	with	with	ADP
ftr-443	619	3	the	the	DET
ftr-443	619	4	llc	llc	PROPN
ftr-443	619	5	service	service	NOUN
ftr-443	619	6	provider	provider	NOUN
ftr-443	619	7	receiving	receive	VERB
ftr-443	619	8	an	an	DET
ftr-443	619	9	interest	interest	NOUN
ftr-443	619	10	in	in	ADP
ftr-443	619	11	the	the	DET
ftr-443	619	12	entity	entity	NOUN
ftr-443	619	13	for	for	ADP
ftr-443	619	14	services	service	NOUN
ftr-443	619	15	,	,	PUNCT
ftr-443	619	16	individuals	individual	NOUN
ftr-443	619	17	receiving	receive	VERB
ftr-443	619	18	stock	stock	NOUN
ftr-443	619	19	for	for	ADP
ftr-443	619	20	services	service	NOUN
ftr-443	619	21	attempt	attempt	VERB
ftr-443	619	22	to	to	PART
ftr-443	619	23	find	find	VERB
ftr-443	619	24	service	service	NOUN
ftr-443	619	25	-	-	PUNCT
ftr-443	619	26	flavored	flavor	VERB
ftr-443	619	27	"	"	PUNCT
ftr-443	619	28	property	property	NOUN
ftr-443	619	29	"	"	PUNCT
ftr-443	619	30	in	in	ADP
ftr-443	619	31	order	order	NOUN
ftr-443	619	32	to	to	PART
ftr-443	619	33	support	support	VERB
ftr-443	619	34	a	a	DET
ftr-443	619	35	nontaxable	nontaxable	ADJ
ftr-443	619	36	exchange	exchange	NOUN
ftr-443	619	37	under	under	ADP
ftr-443	619	38	section	section	NOUN
ftr-443	619	39	351	351	NUM
ftr-443	619	40	.	.	PUNCT
ftr-443	620	1	the	the	DET
ftr-443	620	2	transfer	transfer	NOUN
ftr-443	620	3	of	of	ADP
ftr-443	620	4	stock	stock	NOUN
ftr-443	620	5	to	to	ADP
ftr-443	620	6	a	a	DET
ftr-443	620	7	service	service	NOUN
ftr-443	620	8	recipient	recipient	NOUN
ftr-443	620	9	often	often	ADV
ftr-443	620	10	is	be	AUX
ftr-443	620	11	a	a	DET
ftr-443	620	12	critical	critical	ADJ
ftr-443	620	13	factor	factor	NOUN
ftr-443	620	14	in	in	ADP
ftr-443	620	15	planning	planning	NOUN
ftr-443	620	16	for	for	ADP
ftr-443	620	17	tax	tax	NOUN
ftr-443	620	18	-	-	PUNCT
ftr-443	620	19	free	free	ADJ
ftr-443	620	20	incorporations	incorporation	NOUN
ftr-443	620	21	since	since	SCONJ
ftr-443	620	22	,	,	PUNCT
ftr-443	620	23	if	if	SCONJ
ftr-443	620	24	the	the	DET
ftr-443	620	25	stock	stock	NOUN
ftr-443	620	26	is	be	AUX
ftr-443	620	27	considered	consider	VERB
ftr-443	620	28	received	receive	VERB
ftr-443	620	29	for	for	ADP
ftr-443	620	30	services	service	NOUN
ftr-443	620	31	and	and	CCONJ
ftr-443	620	32	the	the	DET
ftr-443	620	33	service	service	NOUN
ftr-443	620	34	provider	provider	NOUN
ftr-443	620	35	receives	receive	VERB
ftr-443	620	36	more	more	ADJ
ftr-443	620	37	than	than	ADP
ftr-443	620	38	20	20	NUM
ftr-443	620	39	%	%	NOUN
ftr-443	620	40	of	of	ADP
ftr-443	620	41	the	the	DET
ftr-443	620	42	stock	stock	NOUN
ftr-443	620	43	,	,	PUNCT
ftr-443	620	44	all	all	DET
ftr-443	620	45	transferors	transferor	NOUN
ftr-443	620	46	fail	fail	VERB
ftr-443	620	47	the	the	DET
ftr-443	620	48	80	80	NUM
ftr-443	620	49	%	%	NOUN
ftr-443	620	50	control	control	NOUN
ftr-443	620	51	requirement	requirement	NOUN
ftr-443	620	52	of	of	ADP
ftr-443	620	53	section	section	NOUN
ftr-443	620	54	351	351	NUM
ftr-443	620	55	,	,	PUNCT
ftr-443	620	56	which	which	PRON
ftr-443	620	57	must	must	AUX
ftr-443	620	58	be	be	AUX
ftr-443	620	59	satisfied	satisfy	VERB
ftr-443	620	60	by	by	ADP
ftr-443	620	61	transferors	transferor	NOUN
ftr-443	620	62	of	of	ADP
ftr-443	620	63	"	"	PUNCT
ftr-443	620	64	property	property	NOUN
ftr-443	620	65	.	.	PUNCT
ftr-443	621	1	"86	"86	X
ftr-443	621	2	10	10	X
ftr-443	621	3	.	.	PUNCT
ftr-443	621	4	entity	entity	NOUN
ftr-443	621	5	level	level	NOUN
ftr-443	621	6	taxation.-partnerships	taxation.-partnership	NOUN
ftr-443	621	7	,	,	PUNCT
ftr-443	621	8	including	include	VERB
ftr-443	621	9	llcs	llcs	NOUN
ftr-443	621	10	taxable	taxable	ADJ
ftr-443	621	11	as	as	ADP
ftr-443	621	12	partnerships	partnership	NOUN
ftr-443	621	13	,	,	PUNCT
ftr-443	621	14	are	be	AUX
ftr-443	621	15	not	not	PART
ftr-443	621	16	subject	subject	ADJ
ftr-443	621	17	to	to	ADP
ftr-443	621	18	federal	federal	ADJ
ftr-443	621	19	income	income	NOUN
ftr-443	621	20	tax	tax	NOUN
ftr-443	621	21	.	.	PUNCT
ftr-443	622	1	single	single	ADJ
ftr-443	622	2	member	member	NOUN
ftr-443	622	3	llcs	llcs	NOUN
ftr-443	622	4	are	be	AUX
ftr-443	622	5	ignored	ignore	VERB
ftr-443	622	6	for	for	ADP
ftr-443	622	7	federal	federal	ADJ
ftr-443	622	8	income	income	NOUN
ftr-443	622	9	tax	tax	NOUN
ftr-443	622	10	purposes	purpose	NOUN
ftr-443	622	11	unless	unless	SCONJ
ftr-443	622	12	the	the	DET
ftr-443	622	13	owner	owner	NOUN
ftr-443	622	14	opts	opt	VERB
ftr-443	622	15	for	for	ADP
ftr-443	622	16	association	association	NOUN
ftr-443	622	17	treatment	treatment	NOUN
ftr-443	622	18	most	most	ADJ
ftr-443	622	19	states	state	NOUN
ftr-443	622	20	,	,	PUNCT
ftr-443	622	21	with	with	ADP
ftr-443	622	22	the	the	DET
ftr-443	622	23	exception	exception	NOUN
ftr-443	622	24	of	of	ADP
ftr-443	622	25	texas	texas	PROPN
ftr-443	622	26	and	and	CCONJ
ftr-443	622	27	pennsylvania	pennsylvania	PROPN
ftr-443	622	28	,	,	PUNCT
ftr-443	622	29	do	do	AUX
ftr-443	622	30	not	not	PART
ftr-443	622	31	tax	tax	VERB
ftr-443	622	32	llcs	llcs	NOUN
ftr-443	622	33	although	although	SCONJ
ftr-443	622	34	some	some	DET
ftr-443	622	35	states	state	NOUN
ftr-443	622	36	impose	impose	VERB
ftr-443	622	37	limited	limited	ADJ
ftr-443	622	38	franchise	franchise	NOUN
ftr-443	622	39	or	or	CCONJ
ftr-443	622	40	capital	capital	NOUN
ftr-443	622	41	taxes	taxis	NOUN
ftr-443	622	42	.	.	PUNCT
ftr-443	622	43	'	'	PUNCT
ftr-443	623	1	tax	tax	NOUN
ftr-443	623	2	items	item	NOUN
ftr-443	623	3	are	be	AUX
ftr-443	623	4	determined	determine	VERB
ftr-443	623	5	as	as	SCONJ
ftr-443	623	6	if	if	SCONJ
ftr-443	623	7	the	the	DET
ftr-443	623	8	llc	llc	NOUN
ftr-443	623	9	were	be	AUX
ftr-443	623	10	an	an	DET
ftr-443	623	11	individual	individual	NOUN
ftr-443	623	12	and	and	CCONJ
ftr-443	623	13	are	be	AUX
ftr-443	623	14	allocated	allocate	VERB
ftr-443	623	15	between	between	ADP
ftr-443	623	16	separately	separately	ADV
ftr-443	623	17	and	and	CCONJ
ftr-443	623	18	nonseparately	nonseparately	ADV
ftr-443	623	19	stated	state	VERB
ftr-443	623	20	items	item	NOUN
ftr-443	623	21	in	in	ADP
ftr-443	623	22	accordance	accordance	NOUN
ftr-443	623	23	with	with	ADP
ftr-443	623	24	section	section	NOUN
ftr-443	623	25	702	702	NUM
ftr-443	623	26	.	.	PUNCT
ftr-443	624	1	most	most	ADJ
ftr-443	624	2	tax	tax	NOUN
ftr-443	624	3	elections	election	NOUN
ftr-443	624	4	must	must	AUX
ftr-443	624	5	be	be	AUX
ftr-443	624	6	made	make	VERB
ftr-443	624	7	by	by	ADP
ftr-443	624	8	the	the	DET
ftr-443	624	9	llc	llc	PROPN
ftr-443	624	10	,	,	PUNCT
ftr-443	624	11	and	and	CCONJ
ftr-443	624	12	income	income	NOUN
ftr-443	624	13	and	and	CCONJ
ftr-443	624	14	deductions	deduction	NOUN
ftr-443	624	15	are	be	AUX
ftr-443	624	16	characterized	characterize	VERB
ftr-443	624	17	at	at	ADP
ftr-443	624	18	the	the	DET
ftr-443	624	19	entity	entity	NOUN
ftr-443	624	20	level	level	NOUN
ftr-443	624	21	.	.	PUNCT
ftr-443	624	22	'	'	PUNCT
ftr-443	625	1	the	the	DET
ftr-443	625	2	llc	llc	PROPN
ftr-443	625	3	's	's	PART
ftr-443	625	4	taxable	taxable	ADJ
ftr-443	625	5	year	year	NOUN
ftr-443	625	6	generally	generally	ADV
ftr-443	625	7	must	must	AUX
ftr-443	625	8	conform	conform	VERB
ftr-443	625	9	to	to	ADP
ftr-443	625	10	that	that	PRON
ftr-443	625	11	of	of	ADP
ftr-443	625	12	a	a	DET
ftr-443	625	13	majority	majority	NOUN
ftr-443	625	14	in	in	ADP
ftr-443	625	15	interest	interest	NOUN
ftr-443	625	16	of	of	ADP
ftr-443	625	17	its	its	PRON
ftr-443	625	18	members	member	NOUN
ftr-443	625	19	.	.	PUNCT
ftr-443	626	1	"	"	PUNCT
ftr-443	626	2	°	°	CCONJ
ftr-443	626	3	its	its	PRON
ftr-443	626	4	taxable	taxable	ADJ
ftr-443	626	5	year	year	NOUN
ftr-443	626	6	will	will	AUX
ftr-443	626	7	close	close	VERB
ftr-443	626	8	on	on	ADP
ftr-443	626	9	a	a	DET
ftr-443	626	10	termination	termination	NOUN
ftr-443	626	11	or	or	CCONJ
ftr-443	626	12	sale	sale	NOUN
ftr-443	626	13	of	of	ADP
ftr-443	626	14	50	50	NUM
ftr-443	626	15	%	%	NOUN
ftr-443	626	16	or	or	CCONJ
ftr-443	626	17	more	more	ADJ
ftr-443	626	18	of	of	ADP
ftr-443	626	19	its	its	PRON
ftr-443	626	20	equity	equity	NOUN
ftr-443	626	21	within	within	ADP
ftr-443	626	22	one	one	NUM
ftr-443	626	23	year	year	NOUN
ftr-443	626	24	,	,	PUNCT
ftr-443	626	25	and	and	CCONJ
ftr-443	626	26	it	it	PRON
ftr-443	626	27	will	will	AUX
ftr-443	626	28	also	also	ADV
ftr-443	626	29	terminate	terminate	VERB
ftr-443	626	30	with	with	ADP
ftr-443	626	31	respect	respect	NOUN
ftr-443	626	32	to	to	ADP
ftr-443	626	33	a	a	DET
ftr-443	626	34	member	member	NOUN
ftr-443	626	35	who	who	PRON
ftr-443	626	36	sells	sell	VERB
ftr-443	626	37	,	,	PUNCT
ftr-443	626	38	exchanges	exchange	NOUN
ftr-443	626	39	,	,	PUNCT
ftr-443	626	40	or	or	CCONJ
ftr-443	626	41	liquidates	liquidate	VERB
ftr-443	626	42	his	his	PRON
ftr-443	626	43	or	or	CCONJ
ftr-443	626	44	her	her	PRON
ftr-443	626	45	entire	entire	ADJ
ftr-443	626	46	interest	interest	NOUN
ftr-443	626	47	.	.	PUNCT
ftr-443	626	48	"	"	PUNCT
ftr-443	627	1	s	s	VERB
ftr-443	627	2	corporations	corporation	NOUN
ftr-443	627	3	generally	generally	ADV
ftr-443	627	4	are	be	AUX
ftr-443	627	5	not	not	PART
ftr-443	627	6	subject	subject	ADJ
ftr-443	627	7	to	to	ADP
ftr-443	627	8	corporate	corporate	ADJ
ftr-443	627	9	income	income	NOUN
ftr-443	627	10	taxes	taxis	NOUN
ftr-443	627	11	,	,	PUNCT
ftr-443	627	12	including	include	VERB
ftr-443	627	13	the	the	DET
ftr-443	627	14	corporate	corporate	ADJ
ftr-443	627	15	alternative	alternative	ADJ
ftr-443	627	16	minimum	minimum	NOUN
ftr-443	627	17	tax	tax	NOUN
ftr-443	627	18	,	,	PUNCT
ftr-443	627	19	personal	personal	ADJ
ftr-443	627	20	holding	holding	NOUN
ftr-443	627	21	tax	tax	NOUN
ftr-443	627	22	,	,	PUNCT
ftr-443	627	23	and	and	CCONJ
ftr-443	627	24	accumulated	accumulate	VERB
ftr-443	627	25	earnings	earning	NOUN
ftr-443	627	26	tax	tax	NOUN
ftr-443	627	27	.	.	PUNCT
ftr-443	628	1	however	however	ADV
ftr-443	628	2	,	,	PUNCT
ftr-443	628	3	c	c	PROPN
ftr-443	628	4	corporations	corporation	NOUN
ftr-443	628	5	that	that	PRON
ftr-443	628	6	convert	convert	VERB
ftr-443	628	7	to	to	ADP
ftr-443	628	8	s	s	PRON
ftr-443	628	9	status	status	NOUN
ftr-443	628	10	are	be	AUX
ftr-443	628	11	subject	subject	ADJ
ftr-443	628	12	to	to	ADP
ftr-443	628	13	some	some	DET
ftr-443	628	14	entity	entity	NOUN
ftr-443	628	15	level	level	NOUN
ftr-443	628	16	taxes	taxis	NOUN
ftr-443	628	17	.	.	PUNCT
ftr-443	629	1	section	section	NOUN
ftr-443	629	2	1374	1374	NUM
ftr-443	629	3	taxes	taxis	NOUN
ftr-443	629	4	such	such	ADJ
ftr-443	629	5	corporation	corporation	NOUN
ftr-443	629	6	on	on	ADP
ftr-443	629	7	net	net	ADJ
ftr-443	629	8	built	build	VERB
ftr-443	629	9	-	-	PUNCT
ftr-443	629	10	in	in	ADP
ftr-443	629	11	gains	gain	NOUN
ftr-443	629	12	recognized	recognize	VERB
ftr-443	629	13	within	within	ADP
ftr-443	629	14	ten	ten	NUM
ftr-443	629	15	years	year	NOUN
ftr-443	629	16	after	after	ADP
ftr-443	629	17	the	the	DET
ftr-443	629	18	conversion	conversion	NOUN
ftr-443	629	19	,	,	PUNCT
ftr-443	629	20	and	and	CCONJ
ftr-443	629	21	section	section	NOUN
ftr-443	629	22	1375	1375	NUM
ftr-443	629	23	imposes	impose	VERB
ftr-443	629	24	tax	tax	NOUN
ftr-443	629	25	on	on	ADP
ftr-443	629	26	excess	excess	ADJ
ftr-443	629	27	passive	passive	ADJ
ftr-443	629	28	income	income	NOUN
ftr-443	629	29	if	if	SCONJ
ftr-443	629	30	the	the	DET
ftr-443	629	31	corporation	corporation	NOUN
ftr-443	629	32	has	have	AUX
ftr-443	629	33	undistributed	undistribute	VERB
ftr-443	629	34	c	c	PROPN
ftr-443	629	35	year	year	NOUN
ftr-443	629	36	earnings	earning	NOUN
ftr-443	629	37	and	and	CCONJ
ftr-443	629	38	profits	profit	NOUN
ftr-443	629	39	.	.	PUNCT
ftr-443	630	1	taxes	taxis	NOUN
ftr-443	630	2	imposed	impose	VERB
ftr-443	630	3	under	under	ADP
ftr-443	630	4	either	either	DET
ftr-443	630	5	provision	provision	NOUN
ftr-443	630	6	are	be	AUX
ftr-443	630	7	at	at	ADP
ftr-443	630	8	the	the	DET
ftr-443	630	9	maximum	maximum	ADJ
ftr-443	630	10	corporate	corporate	ADJ
ftr-443	630	11	rate	rate	NOUN
ftr-443	630	12	of	of	ADP
ftr-443	630	13	35	35	NUM
ftr-443	630	14	%	%	NOUN
ftr-443	630	15	,	,	PUNCT
ftr-443	630	16	but	but	CCONJ
ftr-443	630	17	the	the	DET
ftr-443	630	18	taxes	taxis	NOUN
ftr-443	630	19	reduce	reduce	VERB
ftr-443	630	20	the	the	DET
ftr-443	630	21	corporate	corporate	ADJ
ftr-443	630	22	income	income	NOUN
ftr-443	630	23	taxable	taxable	ADJ
ftr-443	630	24	to	to	ADP
ftr-443	630	25	the	the	DET
ftr-443	630	26	shareholders	shareholder	NOUN
ftr-443	630	27	.	.	PUNCT
ftr-443	631	1	for	for	ADP
ftr-443	631	2	purposes	purpose	NOUN
ftr-443	631	3	of	of	ADP
ftr-443	631	4	the	the	DET
ftr-443	631	5	built	build	VERB
ftr-443	631	6	-	-	PUNCT
ftr-443	631	7	in	in	ADP
ftr-443	631	8	gains	gain	NOUN
ftr-443	631	9	tax	tax	NOUN
ftr-443	631	10	only	only	ADV
ftr-443	631	11	,	,	PUNCT
ftr-443	631	12	prior	prior	ADV
ftr-443	631	13	c	c	NOUN
ftr-443	631	14	year	year	NOUN
ftr-443	631	15	carryovers	carryover	NOUN
ftr-443	631	16	are	be	AUX
ftr-443	631	17	permitted	permit	VERB
ftr-443	631	18	to	to	PART
ftr-443	631	19	reduce	reduce	VERB
ftr-443	631	20	the	the	DET
ftr-443	631	21	base	base	NOUN
ftr-443	631	22	of	of	ADP
ftr-443	631	23	the	the	DET
ftr-443	631	24	85	85	NUM
ftr-443	631	25	.	.	PUNCT
ftr-443	632	1	see	see	VERB
ftr-443	632	2	irc	irc	ADV
ftr-443	632	3	§	§	NOUN
ftr-443	632	4	83(h	83(h	NUM
ftr-443	632	5	)	)	PUNCT
ftr-443	632	6	,	,	PUNCT
ftr-443	632	7	regs	reg	NOUN
ftr-443	632	8	.	.	PUNCT
ftr-443	633	1	§	§	PROPN
ftr-443	633	2	1.83	1.83	NUM
ftr-443	633	3	-	-	SYM
ftr-443	633	4	6	6	NUM
ftr-443	633	5	.	.	PUNCT
ftr-443	634	1	see	see	VERB
ftr-443	634	2	irc	irc	PROPN
ftr-443	634	3	§	§	PROPN
ftr-443	634	4	1032	1032	NUM
ftr-443	634	5	(	(	PUNCT
ftr-443	634	6	corporation	corporation	NOUN
ftr-443	634	7	recognizes	recognize	VERB
ftr-443	634	8	no	no	DET
ftr-443	634	9	gain	gain	NOUN
ftr-443	634	10	on	on	ADP
ftr-443	634	11	receipt	receipt	NOUN
ftr-443	634	12	of	of	ADP
ftr-443	634	13	property	property	NOUN
ftr-443	634	14	for	for	ADP
ftr-443	634	15	its	its	PRON
ftr-443	634	16	stock	stock	NOUN
ftr-443	634	17	)	)	PUNCT
ftr-443	634	18	.	.	PUNCT
ftr-443	635	1	86	86	NUM
ftr-443	635	2	.	.	PUNCT
ftr-443	636	1	see	see	VERB
ftr-443	636	2	regs	reg	NOUN
ftr-443	636	3	.	.	PUNCT
ftr-443	637	1	§	§	PROPN
ftr-443	637	2	§	§	PROPN
ftr-443	637	3	1.351	1.351	NUM
ftr-443	637	4	-	-	PUNCT
ftr-443	637	5	1(a)(1	1(a)(1	NUM
ftr-443	637	6	)	)	PUNCT
ftr-443	637	7	,	,	PUNCT
ftr-443	637	8	(	(	PUNCT
ftr-443	637	9	2	2	NUM
ftr-443	637	10	)	)	PUNCT
ftr-443	637	11	.	.	PUNCT
ftr-443	638	1	87	87	NUM
ftr-443	638	2	.	.	PUNCT
ftr-443	639	1	see	see	VERB
ftr-443	639	2	ely	ely	PROPN
ftr-443	639	3	&	&	CCONJ
ftr-443	639	4	grissom	grissom	PROPN
ftr-443	639	5	,	,	PUNCT
ftr-443	639	6	supra	supra	PROPN
ftr-443	639	7	note	note	NOUN
ftr-443	639	8	20	20	NUM
ftr-443	639	9	,	,	PUNCT
ftr-443	639	10	at	at	ADP
ftr-443	639	11	1005	1005	NUM
ftr-443	639	12	.	.	PUNCT
ftr-443	640	1	88	88	NUM
ftr-443	640	2	.	.	PUNCT
ftr-443	641	1	see	see	VERB
ftr-443	641	2	irc	irc	PROPN
ftr-443	641	3	§	§	PROPN
ftr-443	641	4	703(b	703(b	PROPN
ftr-443	641	5	)	)	PUNCT
ftr-443	641	6	.	.	PUNCT
ftr-443	642	1	89	89	NUM
ftr-443	642	2	.	.	PUNCT
ftr-443	643	1	see	see	VERB
ftr-443	643	2	united	united	PROPN
ftr-443	643	3	states	states	PROPN
ftr-443	643	4	v.	v.	ADP
ftr-443	643	5	basye	basye	PROPN
ftr-443	643	6	,	,	PUNCT
ftr-443	643	7	410	410	NUM
ftr-443	643	8	u.s	u.s	PROPN
ftr-443	643	9	.	.	PROPN
ftr-443	643	10	441	441	NUM
ftr-443	643	11	(	(	PUNCT
ftr-443	643	12	1973	1973	NUM
ftr-443	643	13	)	)	PUNCT
ftr-443	643	14	.	.	PUNCT
ftr-443	644	1	but	but	CCONJ
ftr-443	644	2	see	see	VERB
ftr-443	644	3	irc	irc	PROPN
ftr-443	644	4	§	§	PROPN
ftr-443	644	5	724	724	NUM
ftr-443	644	6	;	;	PUNCT
ftr-443	644	7	casel	casel	NOUN
ftr-443	644	8	v.	v.	PROPN
ftr-443	644	9	commissioner	commissioner	PROPN
ftr-443	644	10	,	,	PUNCT
ftr-443	644	11	79	79	NUM
ftr-443	644	12	t.c	t.c	PROPN
ftr-443	644	13	.	.	PROPN
ftr-443	644	14	424	424	NUM
ftr-443	644	15	(	(	PUNCT
ftr-443	644	16	1982	1982	NUM
ftr-443	644	17	)	)	PUNCT
ftr-443	644	18	;	;	PUNCT
ftr-443	644	19	regs	reg	NOUN
ftr-443	644	20	.	.	PUNCT
ftr-443	645	1	§	§	PROPN
ftr-443	645	2	1.267(b)-1(b	1.267(b)-1(b	NUM
ftr-443	645	3	)	)	PUNCT
ftr-443	645	4	.	.	PUNCT
ftr-443	646	1	90	90	NUM
ftr-443	646	2	.	.	PUNCT
ftr-443	646	3	see	see	VERB
ftr-443	646	4	irc	irc	ADV
ftr-443	646	5	§	§	PROPN
ftr-443	646	6	706(b	706(b	PROPN
ftr-443	646	7	)	)	PUNCT
ftr-443	646	8	.	.	PUNCT
ftr-443	647	1	but	but	CCONJ
ftr-443	647	2	see	see	VERB
ftr-443	647	3	irc	irc	PROPN
ftr-443	647	4	§	§	PROPN
ftr-443	647	5	444	444	NUM
ftr-443	647	6	(	(	PUNCT
ftr-443	647	7	election	election	NOUN
ftr-443	647	8	of	of	ADP
ftr-443	647	9	different	different	ADJ
ftr-443	647	10	taxable	taxable	ADJ
ftr-443	647	11	year	year	NOUN
ftr-443	647	12	)	)	PUNCT
ftr-443	647	13	.	.	PUNCT
ftr-443	648	1	91	91	NUM
ftr-443	648	2	.	.	PUNCT
ftr-443	649	1	see	see	VERB
ftr-443	649	2	irc	irc	PROPN
ftr-443	649	3	§	§	PROPN
ftr-443	649	4	706(c	706(c	PROPN
ftr-443	649	5	)	)	PUNCT
ftr-443	649	6	.	.	PUNCT
ftr-443	650	1	1999	1999	NUM
ftr-443	650	2	]	]	PUNCT
ftr-443	650	3	florida	florida	PROPN
ftr-443	650	4	tax	tax	PROPN
ftr-443	650	5	review	review	NOUN
ftr-443	650	6	tax	tax	NOUN
ftr-443	650	7	.	.	PUNCT
ftr-443	651	1	in	in	ADP
ftr-443	651	2	addition	addition	NOUN
ftr-443	651	3	,	,	PUNCT
ftr-443	651	4	a	a	DET
ftr-443	651	5	corporation	corporation	NOUN
ftr-443	651	6	using	use	VERB
ftr-443	651	7	the	the	DET
ftr-443	651	8	lifo	lifo	NOUN
ftr-443	651	9	method	method	NOUN
ftr-443	651	10	of	of	ADP
ftr-443	651	11	inventory	inventory	NOUN
ftr-443	651	12	accounting	accounting	NOUN
ftr-443	651	13	when	when	SCONJ
ftr-443	651	14	it	it	PRON
ftr-443	651	15	converts	convert	VERB
ftr-443	651	16	to	to	PART
ftr-443	651	17	s	s	PRON
ftr-443	651	18	status	status	NOUN
ftr-443	651	19	must	must	AUX
ftr-443	651	20	recapture	recapture	VERB
ftr-443	651	21	the	the	DET
ftr-443	651	22	lifo	lifo	NOUN
ftr-443	651	23	-	-	PUNCT
ftr-443	651	24	fifo	fifo	NOUN
ftr-443	651	25	spread	spread	NOUN
ftr-443	651	26	over	over	ADP
ftr-443	651	27	the	the	DET
ftr-443	651	28	succeeding	succeed	VERB
ftr-443	651	29	four	four	NUM
ftr-443	651	30	years	year	NOUN
ftr-443	651	31	.	.	PUNCT
ftr-443	651	32	'	'	PUNCT
ftr-443	652	1	since	since	SCONJ
ftr-443	652	2	conversion	conversion	NOUN
ftr-443	652	3	of	of	ADP
ftr-443	652	4	a	a	DET
ftr-443	652	5	c	c	NOUN
ftr-443	652	6	corporation	corporation	NOUN
ftr-443	652	7	to	to	ADP
ftr-443	652	8	an	an	DET
ftr-443	652	9	llc	llc	NOUN
ftr-443	652	10	taxed	tax	VERB
ftr-443	652	11	as	as	SCONJ
ftr-443	652	12	a	a	DET
ftr-443	652	13	partnership	partnership	NOUN
ftr-443	652	14	is	be	AUX
ftr-443	652	15	treated	treat	VERB
ftr-443	652	16	as	as	ADP
ftr-443	652	17	a	a	DET
ftr-443	652	18	corporate	corporate	ADJ
ftr-443	652	19	liquidation	liquidation	NOUN
ftr-443	652	20	,	,	PUNCT
ftr-443	652	21	causing	cause	VERB
ftr-443	652	22	both	both	CCONJ
ftr-443	652	23	the	the	DET
ftr-443	652	24	corporation	corporation	NOUN
ftr-443	652	25	and	and	CCONJ
ftr-443	652	26	its	its	PRON
ftr-443	652	27	shareholders	shareholder	NOUN
ftr-443	652	28	to	to	PART
ftr-443	652	29	recognize	recognize	VERB
ftr-443	652	30	gain	gain	NOUN
ftr-443	652	31	or	or	CCONJ
ftr-443	652	32	loss	loss	NOUN
ftr-443	652	33	with	with	ADP
ftr-443	652	34	respect	respect	NOUN
ftr-443	652	35	to	to	ADP
ftr-443	652	36	all	all	DET
ftr-443	652	37	assets	asset	NOUN
ftr-443	652	38	and	and	CCONJ
ftr-443	652	39	stock	stock	NOUN
ftr-443	652	40	,	,	PUNCT
ftr-443	652	41	the	the	DET
ftr-443	652	42	entity	entity	NOUN
ftr-443	652	43	level	level	NOUN
ftr-443	652	44	taxes	taxis	NOUN
ftr-443	652	45	on	on	ADP
ftr-443	652	46	s	s	PART
ftr-443	652	47	corporations	corporation	NOUN
ftr-443	652	48	that	that	PRON
ftr-443	652	49	were	be	AUX
ftr-443	652	50	formerly	formerly	ADV
ftr-443	652	51	c	c	ADP
ftr-443	652	52	corporations	corporation	NOUN
ftr-443	652	53	can	can	AUX
ftr-443	652	54	not	not	PART
ftr-443	652	55	be	be	AUX
ftr-443	652	56	counted	count	VERB
ftr-443	652	57	as	as	ADP
ftr-443	652	58	a	a	DET
ftr-443	652	59	relative	relative	ADJ
ftr-443	652	60	disadvantage	disadvantage	NOUN
ftr-443	652	61	of	of	ADP
ftr-443	652	62	the	the	DET
ftr-443	652	63	s	s	PART
ftr-443	652	64	regime	regime	NOUN
ftr-443	652	65	.	.	PUNCT
ftr-443	653	1	an	an	DET
ftr-443	653	2	s	s	X
ftr-443	653	3	corporation	corporation	NOUN
ftr-443	653	4	's	's	PART
ftr-443	653	5	taxable	taxable	ADJ
ftr-443	653	6	income	income	NOUN
ftr-443	653	7	is	be	AUX
ftr-443	653	8	determined	determine	VERB
ftr-443	653	9	as	as	SCONJ
ftr-443	653	10	if	if	SCONJ
ftr-443	653	11	the	the	DET
ftr-443	653	12	corporation	corporation	NOUN
ftr-443	653	13	were	be	AUX
ftr-443	653	14	an	an	DET
ftr-443	653	15	individual	individual	NOUN
ftr-443	653	16	,	,	PUNCT
ftr-443	653	17	and	and	CCONJ
ftr-443	653	18	income	income	NOUN
ftr-443	653	19	and	and	CCONJ
ftr-443	653	20	deductions	deduction	NOUN
ftr-443	653	21	are	be	AUX
ftr-443	653	22	characterized	characterize	VERB
ftr-443	653	23	with	with	ADP
ftr-443	653	24	reference	reference	NOUN
ftr-443	653	25	to	to	ADP
ftr-443	653	26	the	the	DET
ftr-443	653	27	corporation	corporation	NOUN
ftr-443	653	28	's	's	PART
ftr-443	653	29	activities	activity	NOUN
ftr-443	653	30	and	and	CCONJ
ftr-443	653	31	purposes	purpose	NOUN
ftr-443	653	32	.	.	PUNCT
ftr-443	654	1	most	most	ADJ
ftr-443	654	2	tax	tax	NOUN
ftr-443	654	3	elections	election	NOUN
ftr-443	654	4	are	be	AUX
ftr-443	654	5	made	make	VERB
ftr-443	654	6	at	at	ADP
ftr-443	654	7	the	the	DET
ftr-443	654	8	corporate	corporate	ADJ
ftr-443	654	9	level.93	level.93	NOUN
ftr-443	654	10	the	the	DET
ftr-443	654	11	corporation	corporation	NOUN
ftr-443	654	12	's	's	PART
ftr-443	654	13	taxable	taxable	ADJ
ftr-443	654	14	year	year	NOUN
ftr-443	654	15	generally	generally	ADV
ftr-443	654	16	must	must	AUX
ftr-443	654	17	be	be	AUX
ftr-443	654	18	a	a	DET
ftr-443	654	19	calendar	calendar	NOUN
ftr-443	654	20	year	year	NOUN
ftr-443	654	21	or	or	CCONJ
ftr-443	654	22	one	one	NUM
ftr-443	654	23	that	that	PRON
ftr-443	654	24	is	be	AUX
ftr-443	654	25	the	the	DET
ftr-443	654	26	same	same	ADJ
ftr-443	654	27	as	as	ADP
ftr-443	654	28	its	its	PRON
ftr-443	654	29	principal	principal	ADJ
ftr-443	654	30	shareholders	shareholder	NOUN
ftr-443	654	31	'	'	PART
ftr-443	654	32	taxable	taxable	ADJ
ftr-443	654	33	year.94	year.94	NOUN
ftr-443	654	34	its	its	PRON
ftr-443	654	35	taxable	taxable	ADJ
ftr-443	654	36	year	year	NOUN
ftr-443	654	37	may	may	AUX
ftr-443	654	38	,	,	PUNCT
ftr-443	654	39	at	at	ADP
ftr-443	654	40	the	the	DET
ftr-443	654	41	election	election	NOUN
ftr-443	654	42	of	of	ADP
ftr-443	654	43	the	the	DET
ftr-443	654	44	corporation	corporation	NOUN
ftr-443	654	45	and	and	CCONJ
ftr-443	654	46	its	its	PRON
ftr-443	654	47	shareholders	shareholder	NOUN
ftr-443	654	48	,	,	PUNCT
ftr-443	654	49	be	be	AUX
ftr-443	654	50	closed	close	VERB
ftr-443	654	51	in	in	ADP
ftr-443	654	52	the	the	DET
ftr-443	654	53	event	event	NOUN
ftr-443	654	54	of	of	ADP
ftr-443	654	55	a	a	DET
ftr-443	654	56	shareholder	shareholder	NOUN
ftr-443	654	57	's	's	PART
ftr-443	654	58	complete	complete	ADJ
ftr-443	654	59	termination	termination	NOUN
ftr-443	654	60	or	or	CCONJ
ftr-443	654	61	where	where	SCONJ
ftr-443	654	62	a	a	DET
ftr-443	654	63	certain	certain	ADJ
ftr-443	654	64	percentage	percentage	NOUN
ftr-443	654	65	of	of	ADP
ftr-443	654	66	its	its	PRON
ftr-443	654	67	stock	stock	NOUN
ftr-443	654	68	is	be	AUX
ftr-443	654	69	sold	sell	VERB
ftr-443	654	70	over	over	ADP
ftr-443	654	71	a	a	DET
ftr-443	654	72	certain	certain	ADJ
ftr-443	654	73	period.9	period.9	NOUN
ftr-443	654	74	11	11	NUM
ftr-443	654	75	.	.	PUNCT
ftr-443	655	1	use	use	NOUN
ftr-443	655	2	of	of	ADP
ftr-443	655	3	cash	cash	NOUN
ftr-443	655	4	method	method	NOUN
ftr-443	655	5	of	of	ADP
ftr-443	655	6	accounting.-a	accounting.-a	DET
ftr-443	655	7	literal	literal	ADJ
ftr-443	655	8	interpretation	interpretation	NOUN
ftr-443	655	9	of	of	ADP
ftr-443	655	10	sections	section	NOUN
ftr-443	655	11	446(c	446(c	PROPN
ftr-443	655	12	)	)	PUNCT
ftr-443	655	13	and	and	CCONJ
ftr-443	655	14	448(a	448(a	NUM
ftr-443	655	15	)	)	PUNCT
ftr-443	655	16	,	,	PUNCT
ftr-443	655	17	and	and	CCONJ
ftr-443	655	18	the	the	DET
ftr-443	655	19	definition	definition	NOUN
ftr-443	655	20	of	of	ADP
ftr-443	655	21	"	"	PUNCT
ftr-443	655	22	tax	tax	NOUN
ftr-443	655	23	shelter	shelter	NOUN
ftr-443	655	24	"	"	PUNCT
ftr-443	655	25	in	in	ADP
ftr-443	655	26	section	section	NOUN
ftr-443	655	27	461(i)(3	461(i)(3	NUM
ftr-443	655	28	)	)	PUNCT
ftr-443	655	29	,	,	PUNCT
ftr-443	655	30	could	could	AUX
ftr-443	655	31	support	support	VERB
ftr-443	655	32	the	the	DET
ftr-443	655	33	position	position	NOUN
ftr-443	655	34	that	that	PRON
ftr-443	655	35	llcs	llcs	NOUN
ftr-443	655	36	are	be	AUX
ftr-443	655	37	not	not	PART
ftr-443	655	38	permitted	permit	VERB
ftr-443	655	39	to	to	PART
ftr-443	655	40	use	use	VERB
ftr-443	655	41	the	the	DET
ftr-443	655	42	cash	cash	NOUN
ftr-443	655	43	method	method	NOUN
ftr-443	655	44	of	of	ADP
ftr-443	655	45	accounting.9	accounting.9	PROPN
ftr-443	655	46	6	6	NUM
ftr-443	655	47	the	the	DET
ftr-443	655	48	service	service	NOUN
ftr-443	655	49	has	have	AUX
ftr-443	655	50	,	,	PUNCT
ftr-443	655	51	however	however	ADV
ftr-443	655	52	,	,	PUNCT
ftr-443	655	53	issued	issue	VERB
ftr-443	655	54	several	several	ADJ
ftr-443	655	55	favorable	favorable	ADJ
ftr-443	655	56	rulings	ruling	NOUN
ftr-443	655	57	permitting	permit	VERB
ftr-443	655	58	an	an	DET
ftr-443	655	59	llc	llc	NOUN
ftr-443	655	60	to	to	PART
ftr-443	655	61	use	use	VERB
ftr-443	655	62	the	the	DET
ftr-443	655	63	cash	cash	NOUN
ftr-443	655	64	method	method	NOUN
ftr-443	655	65	if	if	SCONJ
ftr-443	655	66	(	(	PUNCT
ftr-443	655	67	1	1	X
ftr-443	655	68	)	)	PUNCT
ftr-443	655	69	the	the	DET
ftr-443	655	70	llc	llc	PROPN
ftr-443	655	71	did	do	AUX
ftr-443	655	72	not	not	PART
ftr-443	655	73	expect	expect	VERB
ftr-443	655	74	to	to	PART
ftr-443	655	75	generate	generate	VERB
ftr-443	655	76	losses	loss	NOUN
ftr-443	655	77	,	,	PUNCT
ftr-443	655	78	(	(	PUNCT
ftr-443	655	79	2	2	X
ftr-443	655	80	)	)	PUNCT
ftr-443	655	81	the	the	DET
ftr-443	655	82	llc	llc	PROPN
ftr-443	655	83	members	member	NOUN
ftr-443	655	84	practiced	practice	VERB
ftr-443	655	85	in	in	ADP
ftr-443	655	86	the	the	DET
ftr-443	655	87	profession	profession	NOUN
ftr-443	655	88	in	in	ADP
ftr-443	655	89	which	which	PRON
ftr-443	655	90	the	the	DET
ftr-443	655	91	llc	llc	PROPN
ftr-443	655	92	is	be	AUX
ftr-443	655	93	engaged	engage	VERB
ftr-443	655	94	,	,	PUNCT
ftr-443	655	95	(	(	PUNCT
ftr-443	655	96	3	3	X
ftr-443	655	97	)	)	PUNCT
ftr-443	655	98	the	the	DET
ftr-443	655	99	llc	llc	NOUN
ftr-443	655	100	was	be	AUX
ftr-443	655	101	not	not	PART
ftr-443	655	102	formed	form	VERB
ftr-443	655	103	for	for	ADP
ftr-443	655	104	a	a	DET
ftr-443	655	105	tax	tax	NOUN
ftr-443	655	106	avoidance	avoidance	NOUN
ftr-443	655	107	purpose	purpose	NOUN
ftr-443	655	108	,	,	PUNCT
ftr-443	655	109	(	(	PUNCT
ftr-443	655	110	4	4	X
ftr-443	655	111	)	)	PUNCT
ftr-443	655	112	the	the	DET
ftr-443	655	113	interests	interest	NOUN
ftr-443	655	114	in	in	ADP
ftr-443	655	115	the	the	DET
ftr-443	655	116	llc	llc	NOUN
ftr-443	655	117	were	be	AUX
ftr-443	655	118	not	not	PART
ftr-443	655	119	syndicated	syndicate	VERB
ftr-443	655	120	,	,	PUNCT
ftr-443	655	121	and	and	CCONJ
ftr-443	655	122	(	(	PUNCT
ftr-443	655	123	5	5	X
ftr-443	655	124	)	)	PUNCT
ftr-443	655	125	the	the	DET
ftr-443	655	126	equity	equity	NOUN
ftr-443	655	127	partners	partner	NOUN
ftr-443	655	128	manage	manage	VERB
ftr-443	655	129	the	the	DET
ftr-443	655	130	llc.97	llc.97	NOUN
ftr-443	655	131	an	an	DET
ftr-443	655	132	s	s	NOUN
ftr-443	655	133	corporation	corporation	NOUN
ftr-443	655	134	may	may	AUX
ftr-443	655	135	adopt	adopt	VERB
ftr-443	655	136	the	the	DET
ftr-443	655	137	cash	cash	NOUN
ftr-443	655	138	method	method	NOUN
ftr-443	655	139	unless	unless	SCONJ
ftr-443	655	140	it	it	PRON
ftr-443	655	141	is	be	AUX
ftr-443	655	142	a	a	DET
ftr-443	655	143	"	"	PUNCT
ftr-443	655	144	tax	tax	NOUN
ftr-443	655	145	shelter	shelter	NOUN
ftr-443	655	146	"	"	PUNCT
ftr-443	655	147	under	under	ADP
ftr-443	655	148	section	section	NOUN
ftr-443	655	149	461(i)(3)."s	461(i)(3)."s	NUM
ftr-443	655	150	as	as	ADP
ftr-443	655	151	for	for	ADP
ftr-443	655	152	all	all	DET
ftr-443	655	153	taxpayers	taxpayer	NOUN
ftr-443	655	154	,	,	PUNCT
ftr-443	655	155	if	if	SCONJ
ftr-443	655	156	inventories	inventory	NOUN
ftr-443	655	157	are	be	AUX
ftr-443	655	158	used	use	VERB
ftr-443	655	159	the	the	DET
ftr-443	655	160	accrual	accrual	ADJ
ftr-443	655	161	method	method	NOUN
ftr-443	655	162	of	of	ADP
ftr-443	655	163	accounting	accounting	NOUN
ftr-443	655	164	must	must	AUX
ftr-443	655	165	be	be	AUX
ftr-443	655	166	adopted	adopt	VERB
ftr-443	655	167	unless	unless	SCONJ
ftr-443	655	168	the	the	DET
ftr-443	655	169	service	service	NOUN
ftr-443	655	170	permits	permit	VERB
ftr-443	655	171	otherwise.99	otherwise.99	VERB
ftr-443	655	172	92	92	NUM
ftr-443	655	173	.	.	PUNCT
ftr-443	656	1	see	see	VERB
ftr-443	656	2	irc	irc	PROPN
ftr-443	656	3	§	§	PROPN
ftr-443	656	4	1363(d	1363(d	PROPN
ftr-443	656	5	)	)	PUNCT
ftr-443	656	6	.	.	PUNCT
ftr-443	657	1	93	93	NUM
ftr-443	657	2	.	.	PUNCT
ftr-443	658	1	see	see	VERB
ftr-443	658	2	irc	irc	PROPN
ftr-443	658	3	§	§	PROPN
ftr-443	658	4	1363(c	1363(c	NUM
ftr-443	658	5	)	)	PUNCT
ftr-443	658	6	.	.	PUNCT
ftr-443	659	1	94	94	X
ftr-443	659	2	.	.	PUNCT
ftr-443	660	1	see	see	VERB
ftr-443	660	2	irc	irc	PROPN
ftr-443	660	3	§	§	PROPN
ftr-443	660	4	1378	1378	NUM
ftr-443	660	5	;	;	PUNCT
ftr-443	660	6	see	see	AUX
ftr-443	660	7	also	also	ADV
ftr-443	660	8	rev	rev	VERB
ftr-443	660	9	.	.	PROPN
ftr-443	661	1	proc	proc	PROPN
ftr-443	661	2	.	.	PUNCT
ftr-443	662	1	87	87	NUM
ftr-443	662	2	-	-	SYM
ftr-443	662	3	32	32	NUM
ftr-443	662	4	,	,	PUNCT
ftr-443	662	5	1987	1987	NUM
ftr-443	662	6	-	-	SYM
ftr-443	662	7	2	2	NUM
ftr-443	662	8	c.b	c.b	PROPN
ftr-443	662	9	.	.	PROPN
ftr-443	662	10	396	396	NUM
ftr-443	662	11	.	.	PUNCT
ftr-443	662	12	95	95	NUM
ftr-443	662	13	.	.	PUNCT
ftr-443	663	1	irc	irc	AUX
ftr-443	663	2	§	§	PROPN
ftr-443	663	3	1377(a)(2	1377(a)(2	NUM
ftr-443	663	4	)	)	PUNCT
ftr-443	663	5	;	;	PUNCT
ftr-443	663	6	see	see	VERB
ftr-443	663	7	generally	generally	ADV
ftr-443	663	8	regs	reg	NOUN
ftr-443	663	9	.	.	PUNCT
ftr-443	664	1	§	§	PROPN
ftr-443	664	2	1.1362	1.1362	NUM
ftr-443	664	3	-	-	SYM
ftr-443	664	4	2	2	NUM
ftr-443	664	5	.	.	NOUN
ftr-443	664	6	96	96	NUM
ftr-443	664	7	.	.	PUNCT
ftr-443	665	1	for	for	ADP
ftr-443	665	2	explanations	explanation	NOUN
ftr-443	665	3	of	of	ADP
ftr-443	665	4	the	the	DET
ftr-443	665	5	terms	term	NOUN
ftr-443	665	6	"	"	PUNCT
ftr-443	665	7	syndicate	syndicate	NOUN
ftr-443	665	8	"	"	PUNCT
ftr-443	665	9	and	and	CCONJ
ftr-443	665	10	"	"	PUNCT
ftr-443	665	11	tax	tax	NOUN
ftr-443	665	12	shelter	shelter	NOUN
ftr-443	665	13	"	"	PUNCT
ftr-443	665	14	(	(	PUNCT
ftr-443	665	15	as	as	ADP
ftr-443	665	16	specially	specially	ADV
ftr-443	665	17	defined	define	VERB
ftr-443	665	18	within	within	ADP
ftr-443	665	19	the	the	DET
ftr-443	665	20	§	§	PROPN
ftr-443	665	21	461(i)(3	461(i)(3	NUM
ftr-443	665	22	)	)	PUNCT
ftr-443	665	23	definition	definition	NOUN
ftr-443	665	24	of	of	ADP
ftr-443	665	25	the	the	DET
ftr-443	665	26	same	same	ADJ
ftr-443	665	27	term	term	NOUN
ftr-443	665	28	)	)	PUNCT
ftr-443	665	29	,	,	PUNCT
ftr-443	665	30	see	see	VERB
ftr-443	665	31	irc	irc	ADV
ftr-443	665	32	§	§	PROPN
ftr-443	665	33	§	§	PROPN
ftr-443	665	34	1256(e)(3)(b	1256(e)(3)(b	NUM
ftr-443	665	35	)	)	PUNCT
ftr-443	665	36	,	,	PUNCT
ftr-443	665	37	6662(d)(2)(c)(iii	6662(d)(2)(c)(iii	NUM
ftr-443	665	38	)	)	PUNCT
ftr-443	665	39	.	.	PUNCT
ftr-443	666	1	97	97	NUM
ftr-443	666	2	.	.	PUNCT
ftr-443	667	1	see	see	VERB
ftr-443	667	2	priv	priv	PROPN
ftr-443	667	3	.	.	PUNCT
ftr-443	668	1	ltr	ltr	PROPN
ftr-443	668	2	.	.	PUNCT
ftr-443	668	3	rul	rul	PROPN
ftr-443	668	4	.	.	PUNCT
ftr-443	669	1	94	94	NUM
ftr-443	669	2	-	-	SYM
ftr-443	669	3	07	07	NUM
ftr-443	669	4	-	-	PUNCT
ftr-443	669	5	030	030	NUM
ftr-443	669	6	(	(	PUNCT
ftr-443	669	7	apr	apr	PROPN
ftr-443	669	8	.	.	PROPN
ftr-443	669	9	15	15	NUM
ftr-443	669	10	,	,	PUNCT
ftr-443	669	11	1994	1994	NUM
ftr-443	669	12	)	)	PUNCT
ftr-443	669	13	;	;	PUNCT
ftr-443	670	1	priv	priv	NOUN
ftr-443	670	2	.	.	PUNCT
ftr-443	671	1	ltr	ltr	PROPN
ftr-443	671	2	.	.	PUNCT
ftr-443	672	1	rul	rul	PROPN
ftr-443	672	2	.	.	PUNCT
ftr-443	673	1	94	94	NUM
ftr-443	673	2	-	-	SYM
ftr-443	673	3	15	15	NUM
ftr-443	673	4	-	-	SYM
ftr-443	673	5	005	005	NUM
ftr-443	673	6	(	(	PUNCT
ftr-443	673	7	feb	feb	PROPN
ftr-443	673	8	.	.	PROPN
ftr-443	673	9	18	18	NUM
ftr-443	673	10	,	,	PUNCT
ftr-443	673	11	1994	1994	NUM
ftr-443	673	12	)	)	PUNCT
ftr-443	673	13	;	;	PUNCT
ftr-443	673	14	priv	priv	NOUN
ftr-443	673	15	.	.	PUNCT
ftr-443	674	1	ltr	ltr	PROPN
ftr-443	674	2	.	.	PUNCT
ftr-443	675	1	rul	rul	PROPN
ftr-443	675	2	.	.	PUNCT
ftr-443	676	1	93	93	NUM
ftr-443	676	2	-	-	SYM
ftr-443	676	3	21	21	NUM
ftr-443	676	4	-	-	SYM
ftr-443	676	5	047	047	NUM
ftr-443	676	6	(	(	PUNCT
ftr-443	676	7	may	may	PROPN
ftr-443	676	8	28	28	NUM
ftr-443	676	9	,	,	PUNCT
ftr-443	676	10	1993	1993	NUM
ftr-443	676	11	)	)	PUNCT
ftr-443	676	12	(	(	PUNCT
ftr-443	676	13	conversion	conversion	NOUN
ftr-443	676	14	of	of	ADP
ftr-443	676	15	law	law	NOUN
ftr-443	676	16	partnership	partnership	NOUN
ftr-443	676	17	to	to	ADP
ftr-443	676	18	llc	llc	PROPN
ftr-443	676	19	)	)	PUNCT
ftr-443	676	20	.	.	PUNCT
ftr-443	677	1	98	98	NUM
ftr-443	677	2	.	.	PUNCT
ftr-443	678	1	see	see	AUX
ftr-443	678	2	also	also	ADV
ftr-443	678	3	irc	irc	ADV
ftr-443	678	4	§	§	PROPN
ftr-443	678	5	1256(e)(3	1256(e)(3	NOUN
ftr-443	678	6	)	)	PUNCT
ftr-443	678	7	(	(	PUNCT
ftr-443	678	8	regarding	regard	VERB
ftr-443	678	9	syndicates	syndicate	NOUN
ftr-443	678	10	)	)	PUNCT
ftr-443	678	11	.	.	PUNCT
ftr-443	679	1	99	99	NUM
ftr-443	679	2	.	.	PUNCT
ftr-443	680	1	see	see	VERB
ftr-443	680	2	regs	reg	NOUN
ftr-443	680	3	.	.	PUNCT
ftr-443	681	1	§	§	PROPN
ftr-443	681	2	1.446	1.446	NUM
ftr-443	681	3	-	-	NUM
ftr-443	681	4	1(e)(1	1(e)(1	NUM
ftr-443	681	5	)	)	PUNCT
ftr-443	681	6	(	(	PUNCT
ftr-443	681	7	permitting	permit	VERB
ftr-443	681	8	taxpayers	taxpayer	NOUN
ftr-443	681	9	to	to	PART
ftr-443	681	10	adopt	adopt	VERB
ftr-443	681	11	any	any	DET
ftr-443	681	12	"	"	PUNCT
ftr-443	681	13	permissible	permissible	ADJ
ftr-443	681	14	"	"	PUNCT
ftr-443	681	15	accounting	accounting	NOUN
ftr-443	681	16	method	method	NOUN
ftr-443	681	17	for	for	ADP
ftr-443	681	18	each	each	DET
ftr-443	681	19	trade	trade	NOUN
ftr-443	681	20	or	or	CCONJ
ftr-443	681	21	business	business	NOUN
ftr-443	681	22	)	)	PUNCT
ftr-443	681	23	.	.	PUNCT
ftr-443	682	1	[	[	X
ftr-443	682	2	vol	vol	NOUN
ftr-443	682	3	4:3	4:3	NUM
ftr-443	682	4	benefits	benefit	NOUN
ftr-443	682	5	and	and	CCONJ
ftr-443	682	6	burdens	burden	NOUN
ftr-443	682	7	of	of	ADP
ftr-443	682	8	subchapter	subchapter	NOUN
ftr-443	682	9	s	s	PART
ftr-443	682	10	12	12	NUM
ftr-443	682	11	.	.	PUNCT
ftr-443	682	12	effects	effect	NOUN
ftr-443	682	13	of	of	ADP
ftr-443	682	14	entity	entity	NOUN
ftr-443	682	15	level	level	NOUN
ftr-443	682	16	debt	debt	NOUN
ftr-443	682	17	on	on	ADP
ftr-443	682	18	outside	outside	ADJ
ftr-443	682	19	basis	basis	NOUN
ftr-443	682	20	and	and	CCONJ
ftr-443	682	21	loss	loss	NOUN
ftr-443	682	22	limitation	limitation	NOUN
ftr-443	682	23	rules.-both	rules.-both	NOUN
ftr-443	682	24	llc	llc	NOUN
ftr-443	682	25	members	member	NOUN
ftr-443	682	26	and	and	CCONJ
ftr-443	682	27	s	s	PRON
ftr-443	682	28	shareholders	shareholder	NOUN
ftr-443	682	29	may	may	AUX
ftr-443	682	30	deduct	deduct	VERB
ftr-443	682	31	their	their	PRON
ftr-443	682	32	shares	share	NOUN
ftr-443	682	33	of	of	ADP
ftr-443	682	34	entity	entity	NOUN
ftr-443	682	35	losses	loss	NOUN
ftr-443	682	36	only	only	ADV
ftr-443	682	37	to	to	ADP
ftr-443	682	38	the	the	DET
ftr-443	682	39	extent	extent	NOUN
ftr-443	682	40	of	of	ADP
ftr-443	682	41	the	the	DET
ftr-443	682	42	adjusted	adjust	VERB
ftr-443	682	43	bases	basis	NOUN
ftr-443	682	44	of	of	ADP
ftr-443	682	45	their	their	PRON
ftr-443	682	46	interests	interest	NOUN
ftr-443	682	47	in	in	ADP
ftr-443	682	48	the	the	DET
ftr-443	682	49	entity	entity	NOUN
ftr-443	682	50	.	.	PUNCT
ftr-443	683	1	for	for	ADP
ftr-443	683	2	llcs	llcs	NOUN
ftr-443	683	3	,	,	PUNCT
ftr-443	683	4	but	but	CCONJ
ftr-443	683	5	not	not	PART
ftr-443	683	6	for	for	ADP
ftr-443	683	7	s	s	PROPN
ftr-443	683	8	corporations	corporation	NOUN
ftr-443	683	9	,	,	PUNCT
ftr-443	683	10	loss	loss	NOUN
ftr-443	683	11	deductions	deduction	NOUN
ftr-443	683	12	are	be	AUX
ftr-443	683	13	facilitated	facilitate	VERB
ftr-443	683	14	by	by	ADP
ftr-443	683	15	the	the	DET
ftr-443	683	16	inclusion	inclusion	NOUN
ftr-443	683	17	of	of	ADP
ftr-443	683	18	the	the	DET
ftr-443	683	19	llc	llc	PROPN
ftr-443	683	20	's	's	PART
ftr-443	683	21	debt	debt	NOUN
ftr-443	683	22	in	in	ADP
ftr-443	683	23	the	the	DET
ftr-443	683	24	members	member	NOUN
ftr-443	683	25	'	'	PART
ftr-443	683	26	bases	basis	NOUN
ftr-443	683	27	for	for	ADP
ftr-443	683	28	their	their	PRON
ftr-443	683	29	interests	interest	NOUN
ftr-443	683	30	.	.	PUNCT
ftr-443	684	1	a.	a.	NOUN
ftr-443	684	2	rules	rule	NOUN
ftr-443	684	3	for	for	ADP
ftr-443	684	4	s	s	PROPN
ftr-443	684	5	corporations.-an	corporations.-an	PROPN
ftr-443	684	6	s	s	X
ftr-443	684	7	shareholder	shareholder	NOUN
ftr-443	684	8	may	may	AUX
ftr-443	684	9	deduct	deduct	VERB
ftr-443	684	10	corporate	corporate	ADJ
ftr-443	684	11	losses	loss	NOUN
ftr-443	684	12	only	only	ADV
ftr-443	684	13	to	to	ADP
ftr-443	684	14	the	the	DET
ftr-443	684	15	extent	extent	NOUN
ftr-443	684	16	of	of	ADP
ftr-443	684	17	the	the	DET
ftr-443	684	18	sum	sum	NOUN
ftr-443	684	19	of	of	ADP
ftr-443	684	20	the	the	DET
ftr-443	684	21	shareholder	shareholder	NOUN
ftr-443	684	22	's	's	PART
ftr-443	684	23	stock	stock	NOUN
ftr-443	684	24	basis	basis	NOUN
ftr-443	684	25	and	and	CCONJ
ftr-443	684	26	the	the	DET
ftr-443	684	27	adjusted	adjusted	ADJ
ftr-443	684	28	basis	basis	NOUN
ftr-443	684	29	of	of	ADP
ftr-443	684	30	any	any	DET
ftr-443	684	31	corporate	corporate	ADJ
ftr-443	684	32	debt	debt	NOUN
ftr-443	684	33	held	hold	VERB
ftr-443	684	34	by	by	ADP
ftr-443	684	35	the	the	DET
ftr-443	684	36	shareholder	shareholder	NOUN
ftr-443	684	37	1	1	NUM
ftr-443	684	38	°	°	NUM
ftr-443	684	39	the	the	DET
ftr-443	684	40	basis	basis	NOUN
ftr-443	684	41	of	of	ADP
ftr-443	684	42	stock	stock	NOUN
ftr-443	684	43	received	receive	VERB
ftr-443	684	44	from	from	ADP
ftr-443	684	45	the	the	DET
ftr-443	684	46	corporation	corporation	NOUN
ftr-443	684	47	in	in	ADP
ftr-443	684	48	a	a	DET
ftr-443	684	49	section	section	NOUN
ftr-443	684	50	351	351	NUM
ftr-443	684	51	exchange	exchange	NOUN
ftr-443	684	52	includes	include	VERB
ftr-443	684	53	only	only	ADV
ftr-443	684	54	the	the	DET
ftr-443	684	55	money	money	NOUN
ftr-443	684	56	paid	pay	VERB
ftr-443	684	57	and	and	CCONJ
ftr-443	684	58	the	the	DET
ftr-443	684	59	adjusted	adjusted	ADJ
ftr-443	684	60	basis	basis	NOUN
ftr-443	684	61	of	of	ADP
ftr-443	684	62	any	any	DET
ftr-443	684	63	property	property	NOUN
ftr-443	684	64	exchanged	exchange	VERB
ftr-443	684	65	for	for	ADP
ftr-443	684	66	the	the	DET
ftr-443	684	67	stock	stock	NOUN
ftr-443	684	68	.	.	PUNCT
ftr-443	685	1	the	the	DET
ftr-443	685	2	shareholder	shareholder	NOUN
ftr-443	685	3	may	may	AUX
ftr-443	685	4	not	not	PART
ftr-443	685	5	add	add	VERB
ftr-443	685	6	to	to	ADP
ftr-443	685	7	stock	stock	NOUN
ftr-443	685	8	basis	basis	NOUN
ftr-443	685	9	any	any	DET
ftr-443	685	10	indirect	indirect	ADJ
ftr-443	685	11	contribution	contribution	NOUN
ftr-443	685	12	,	,	PUNCT
ftr-443	685	13	such	such	ADJ
ftr-443	685	14	as	as	ADP
ftr-443	685	15	a	a	DET
ftr-443	685	16	proportionate	proportionate	ADJ
ftr-443	685	17	amount	amount	NOUN
ftr-443	685	18	of	of	ADP
ftr-443	685	19	corporate	corporate	ADJ
ftr-443	685	20	indebtedness	indebtedness	NOUN
ftr-443	685	21	,	,	PUNCT
ftr-443	685	22	even	even	ADV
ftr-443	685	23	if	if	SCONJ
ftr-443	685	24	its	its	PRON
ftr-443	685	25	repayment	repayment	NOUN
ftr-443	685	26	has	have	AUX
ftr-443	685	27	been	be	AUX
ftr-443	685	28	personally	personally	ADV
ftr-443	685	29	guaranteed	guarantee	VERB
ftr-443	685	30	by	by	ADP
ftr-443	685	31	the	the	DET
ftr-443	685	32	shareholder	shareholder	NOUN
ftr-443	685	33	.	.	PUNCT
ftr-443	686	1	the	the	DET
ftr-443	686	2	shareholder	shareholder	NOUN
ftr-443	686	3	obtains	obtain	VERB
ftr-443	686	4	basis	basis	NOUN
ftr-443	686	5	only	only	ADV
ftr-443	686	6	by	by	ADP
ftr-443	686	7	making	make	VERB
ftr-443	686	8	an	an	DET
ftr-443	686	9	"	"	PUNCT
ftr-443	686	10	actual	actual	ADJ
ftr-443	686	11	economic	economic	ADJ
ftr-443	686	12	outlay	outlay	NOUN
ftr-443	686	13	.	.	PUNCT
ftr-443	687	1	"10	"10	PROPN
ftr-443	687	2	'	'	PUNCT
ftr-443	687	3	this	this	DET
ftr-443	687	4	limitation	limitation	NOUN
ftr-443	687	5	often	often	ADV
ftr-443	687	6	prevents	prevent	VERB
ftr-443	687	7	s	s	PART
ftr-443	687	8	shareholders	shareholder	NOUN
ftr-443	687	9	from	from	ADP
ftr-443	687	10	deducting	deduct	VERB
ftr-443	687	11	their	their	PRON
ftr-443	687	12	shares	share	NOUN
ftr-443	687	13	of	of	ADP
ftr-443	687	14	corporate	corporate	ADJ
ftr-443	687	15	losses	loss	NOUN
ftr-443	687	16	and	and	CCONJ
ftr-443	687	17	deductions	deduction	NOUN
ftr-443	687	18	,	,	PUNCT
ftr-443	687	19	although	although	SCONJ
ftr-443	687	20	excess	excess	ADJ
ftr-443	687	21	losses	loss	NOUN
ftr-443	687	22	may	may	AUX
ftr-443	687	23	be	be	AUX
ftr-443	687	24	carried	carry	VERB
ftr-443	687	25	forward	forward	ADV
ftr-443	687	26	indefinitely	indefinitely	ADV
ftr-443	687	27	.	.	PUNCT
ftr-443	688	1	"	"	PUNCT
ftr-443	688	2	'	'	PUNCT
ftr-443	688	3	an	an	DET
ftr-443	688	4	s	s	NOUN
ftr-443	688	5	shareholder	shareholder	NOUN
ftr-443	688	6	is	be	AUX
ftr-443	688	7	also	also	ADV
ftr-443	688	8	subject	subject	ADJ
ftr-443	688	9	to	to	ADP
ftr-443	688	10	the	the	DET
ftr-443	688	11	at	at	ADP
ftr-443	688	12	-	-	PUNCT
ftr-443	688	13	risk	risk	NOUN
ftr-443	688	14	limitations	limitation	NOUN
ftr-443	688	15	of	of	ADP
ftr-443	688	16	section	section	NOUN
ftr-443	688	17	465	465	NUM
ftr-443	688	18	,	,	PUNCT
ftr-443	688	19	which	which	PRON
ftr-443	688	20	restrict	restrict	VERB
ftr-443	688	21	deductions	deduction	NOUN
ftr-443	688	22	for	for	ADP
ftr-443	688	23	losses	loss	NOUN
ftr-443	688	24	from	from	ADP
ftr-443	688	25	property	property	NOUN
ftr-443	688	26	to	to	ADP
ftr-443	688	27	the	the	DET
ftr-443	688	28	amount	amount	NOUN
ftr-443	688	29	the	the	DET
ftr-443	688	30	taxpayer	taxpayer	NOUN
ftr-443	688	31	has	have	VERB
ftr-443	688	32	at	at	ADP
ftr-443	688	33	risk	risk	NOUN
ftr-443	688	34	in	in	ADP
ftr-443	688	35	the	the	DET
ftr-443	688	36	investment	investment	NOUN
ftr-443	688	37	.	.	PUNCT
ftr-443	689	1	an	an	DET
ftr-443	689	2	s	s	NOUN
ftr-443	689	3	shareholder	shareholder	NOUN
ftr-443	689	4	is	be	AUX
ftr-443	689	5	not	not	PART
ftr-443	689	6	at	at	ADP
ftr-443	689	7	-	-	PUNCT
ftr-443	689	8	risk	risk	NOUN
ftr-443	689	9	for	for	ADP
ftr-443	689	10	corporate	corporate	ADJ
ftr-443	689	11	debt	debt	NOUN
ftr-443	689	12	,	,	PUNCT
ftr-443	689	13	even	even	ADV
ftr-443	689	14	personally	personally	ADV
ftr-443	689	15	guaranteed	guarantee	VERB
ftr-443	689	16	corporate	corporate	ADJ
ftr-443	689	17	debt.0	debt.0	PROPN
ftr-443	689	18	3	3	NUM
ftr-443	689	19	symmetrically	symmetrically	ADV
ftr-443	689	20	with	with	ADP
ftr-443	689	21	the	the	DET
ftr-443	689	22	s	s	PROPN
ftr-443	689	23	corporation	corporation	NOUN
ftr-443	689	24	basis	basis	NOUN
ftr-443	689	25	rules	rule	NOUN
ftr-443	689	26	,	,	PUNCT
ftr-443	689	27	however	however	ADV
ftr-443	689	28	,	,	PUNCT
ftr-443	689	29	the	the	DET
ftr-443	689	30	proposed	propose	VERB
ftr-443	689	31	regulations	regulation	NOUN
ftr-443	689	32	under	under	ADP
ftr-443	689	33	section	section	NOUN
ftr-443	689	34	465	465	NUM
ftr-443	689	35	permit	permit	NOUN
ftr-443	689	36	a	a	DET
ftr-443	689	37	shareholder	shareholder	NOUN
ftr-443	689	38	to	to	PART
ftr-443	689	39	increase	increase	VERB
ftr-443	689	40	the	the	DET
ftr-443	689	41	at	at	ADP
ftr-443	689	42	-	-	PUNCT
ftr-443	689	43	risk	risk	NOUN
ftr-443	689	44	amount	amount	NOUN
ftr-443	689	45	by	by	ADP
ftr-443	689	46	funds	fund	NOUN
ftr-443	689	47	loaned	loan	VERB
ftr-443	689	48	to	to	ADP
ftr-443	689	49	the	the	DET
ftr-443	689	50	corporation	corporation	NOUN
ftr-443	689	51	.	.	PUNCT
ftr-443	689	52	'o	'o	PART
ftr-443	689	53	100	100	NUM
ftr-443	689	54	.	.	PUNCT
ftr-443	690	1	see	see	VERB
ftr-443	690	2	irc	irc	PROPN
ftr-443	690	3	§	§	PROPN
ftr-443	690	4	1366(d	1366(d	PROPN
ftr-443	690	5	)	)	PUNCT
ftr-443	690	6	.	.	PUNCT
ftr-443	691	1	101	101	NUM
ftr-443	691	2	.	.	PUNCT
ftr-443	692	1	underwood	underwood	PROPN
ftr-443	692	2	v.	v.	PROPN
ftr-443	692	3	commissioner	commissioner	PROPN
ftr-443	692	4	,	,	PUNCT
ftr-443	692	5	535	535	NUM
ftr-443	692	6	f.2d	f.2d	NUM
ftr-443	692	7	309	309	NUM
ftr-443	692	8	(	(	PUNCT
ftr-443	692	9	5th	5th	ADJ
ftr-443	692	10	cir	cir	NOUN
ftr-443	692	11	.	.	PUNCT
ftr-443	692	12	1976	1976	NUM
ftr-443	692	13	)	)	PUNCT
ftr-443	692	14	;	;	PUNCT
ftr-443	692	15	raynor	raynor	PROPN
ftr-443	692	16	v.	v.	PROPN
ftr-443	692	17	commissioner	commissioner	PROPN
ftr-443	692	18	,	,	PUNCT
ftr-443	692	19	50	50	NUM
ftr-443	692	20	t.c	t.c	NOUN
ftr-443	692	21	.	.	PROPN
ftr-443	692	22	762	762	NUM
ftr-443	692	23	(	(	PUNCT
ftr-443	692	24	1968	1968	NUM
ftr-443	692	25	)	)	PUNCT
ftr-443	692	26	.	.	PUNCT
ftr-443	693	1	but	but	CCONJ
ftr-443	693	2	see	see	VERB
ftr-443	693	3	selfe	selfe	PROPN
ftr-443	693	4	v.	v.	ADP
ftr-443	693	5	united	united	PROPN
ftr-443	693	6	states	states	PROPN
ftr-443	693	7	,	,	PUNCT
ftr-443	693	8	778	778	NUM
ftr-443	693	9	f.2d	f.2d	SYM
ftr-443	693	10	769	769	NUM
ftr-443	693	11	(	(	PUNCT
ftr-443	693	12	11	11	NUM
ftr-443	693	13	th	th	X
ftr-443	693	14	cir	cir	NOUN
ftr-443	693	15	.	.	PUNCT
ftr-443	693	16	1985	1985	NUM
ftr-443	693	17	)	)	PUNCT
ftr-443	693	18	(	(	PUNCT
ftr-443	693	19	shareholder	shareholder	NOUN
ftr-443	693	20	entitled	entitle	VERB
ftr-443	693	21	to	to	ADP
ftr-443	693	22	a	a	DET
ftr-443	693	23	determination	determination	NOUN
ftr-443	693	24	of	of	ADP
ftr-443	693	25	who	who	PRON
ftr-443	693	26	was	be	AUX
ftr-443	693	27	the	the	DET
ftr-443	693	28	real	real	ADJ
ftr-443	693	29	debtor	debtor	NOUN
ftr-443	693	30	)	)	PUNCT
ftr-443	693	31	.	.	PUNCT
ftr-443	694	1	the	the	DET
ftr-443	694	2	tax	tax	NOUN
ftr-443	694	3	court	court	NOUN
ftr-443	694	4	does	do	AUX
ftr-443	694	5	not	not	PART
ftr-443	694	6	follow	follow	VERB
ftr-443	694	7	selfe	selfe	NOUN
ftr-443	694	8	,	,	PUNCT
ftr-443	694	9	except	except	SCONJ
ftr-443	694	10	under	under	ADP
ftr-443	694	11	its	its	PRON
ftr-443	694	12	administrative	administrative	ADJ
ftr-443	694	13	golsen	golsen	ADJ
ftr-443	694	14	rule	rule	NOUN
ftr-443	694	15	for	for	ADP
ftr-443	694	16	cases	case	NOUN
ftr-443	694	17	appealable	appealable	ADJ
ftr-443	694	18	to	to	ADP
ftr-443	694	19	the	the	DET
ftr-443	694	20	eleventh	eleventh	ADJ
ftr-443	694	21	circuit	circuit	NOUN
ftr-443	694	22	.	.	PUNCT
ftr-443	695	1	see	see	VERB
ftr-443	695	2	estate	estate	NOUN
ftr-443	695	3	of	of	ADP
ftr-443	695	4	leavitt	leavitt	PROPN
ftr-443	696	1	v.	v.	PROPN
ftr-443	696	2	commissioner	commissioner	PROPN
ftr-443	696	3	,	,	PUNCT
ftr-443	696	4	90	90	NUM
ftr-443	696	5	t.c	t.c	NOUN
ftr-443	696	6	.	.	PROPN
ftr-443	696	7	206	206	NUM
ftr-443	696	8	(	(	PUNCT
ftr-443	696	9	1988	1988	NUM
ftr-443	696	10	)	)	PUNCT
ftr-443	696	11	.	.	PUNCT
ftr-443	697	1	aftd	aftd	PROPN
ftr-443	697	2	,	,	PUNCT
ftr-443	697	3	875	875	NUM
ftr-443	697	4	f.2d	f.2d	ADP
ftr-443	697	5	420	420	NUM
ftr-443	697	6	(	(	PUNCT
ftr-443	697	7	4th	4th	ADJ
ftr-443	697	8	cir	cir	NOUN
ftr-443	697	9	.	.	PROPN
ftr-443	697	10	1989	1989	NUM
ftr-443	697	11	)	)	PUNCT
ftr-443	697	12	.	.	PUNCT
ftr-443	698	1	in	in	ADP
ftr-443	698	2	one	one	NUM
ftr-443	698	3	instance	instance	NOUN
ftr-443	698	4	,	,	PUNCT
ftr-443	698	5	a	a	DET
ftr-443	698	6	novation	novation	NOUN
ftr-443	698	7	of	of	ADP
ftr-443	698	8	a	a	DET
ftr-443	698	9	corporate	corporate	ADJ
ftr-443	698	10	debt	debt	NOUN
ftr-443	698	11	provided	provide	VERB
ftr-443	698	12	shareholder	shareholder	NOUN
ftr-443	698	13	level	level	NOUN
ftr-443	698	14	basis	basis	NOUN
ftr-443	698	15	.	.	PUNCT
ftr-443	699	1	gilday	gilday	PROPN
ftr-443	699	2	v.	v.	PROPN
ftr-443	699	3	commissioner	commissioner	PROPN
ftr-443	699	4	,	,	PUNCT
ftr-443	700	1	43	43	NUM
ftr-443	700	2	t.c	t.c	PROPN
ftr-443	700	3	.	.	PROPN
ftr-443	700	4	memo	memo	NOUN
ftr-443	700	5	(	(	PUNCT
ftr-443	700	6	cch	cch	PROPN
ftr-443	700	7	)	)	PUNCT
ftr-443	700	8	1295	1295	NUM
ftr-443	700	9	,	,	PUNCT
ftr-443	700	10	t.c	t.c	PROPN
ftr-443	700	11	.	.	PROPN
ftr-443	700	12	memo	memo	NOUN
ftr-443	700	13	(	(	PUNCT
ftr-443	700	14	p	p	NOUN
ftr-443	700	15	-	-	PUNCT
ftr-443	700	16	h	h	NOUN
ftr-443	700	17	)	)	PUNCT
ftr-443	700	18	82,242	82,242	NUM
ftr-443	700	19	(	(	PUNCT
ftr-443	700	20	1982	1982	NUM
ftr-443	700	21	)	)	PUNCT
ftr-443	700	22	;	;	PUNCT
ftr-443	700	23	cf	cf	X
ftr-443	700	24	.	.	PUNCT
ftr-443	701	1	underwood	underwood	PROPN
ftr-443	701	2	v.	v.	PROPN
ftr-443	701	3	commissioner	commissioner	PROPN
ftr-443	701	4	,	,	PUNCT
ftr-443	701	5	supra	supra	PROPN
ftr-443	701	6	.	.	PUNCT
ftr-443	702	1	102	102	NUM
ftr-443	702	2	.	.	PUNCT
ftr-443	703	1	see	see	VERB
ftr-443	703	2	irc	irc	PROPN
ftr-443	703	3	§	§	PROPN
ftr-443	703	4	1366(d)(2	1366(d)(2	NUM
ftr-443	703	5	)	)	PUNCT
ftr-443	703	6	.	.	PUNCT
ftr-443	704	1	103	103	NUM
ftr-443	704	2	.	.	PUNCT
ftr-443	705	1	see	see	VERB
ftr-443	705	2	prop	prop	NOUN
ftr-443	705	3	.	.	PUNCT
ftr-443	706	1	regs	regs	PROPN
ftr-443	706	2	.	.	PUNCT
ftr-443	707	1	§	§	PROPN
ftr-443	707	2	§	§	PROPN
ftr-443	707	3	1.465	1.465	NUM
ftr-443	707	4	-	-	PUNCT
ftr-443	707	5	24(a)(3	24(a)(3	NUM
ftr-443	707	6	)	)	PUNCT
ftr-443	707	7	.	.	PUNCT
ftr-443	708	1	ia65	ia65	PROPN
ftr-443	708	2	-	-	PUNCT
ftr-443	708	3	6(d	6(d	NUM
ftr-443	708	4	)	)	PUNCT
ftr-443	708	5	.	.	PUNCT
ftr-443	709	1	but	but	CCONJ
ftr-443	709	2	cf	cf	INTJ
ftr-443	709	3	.	.	PUNCT
ftr-443	710	1	melvin	melvin	PROPN
ftr-443	710	2	v.	v.	PROPN
ftr-443	710	3	commissioner	commissioner	PROPN
ftr-443	710	4	,	,	PUNCT
ftr-443	710	5	88	88	NUM
ftr-443	710	6	t.c	t.c	PROPN
ftr-443	710	7	.	.	PROPN
ftr-443	710	8	63	63	NUM
ftr-443	710	9	(	(	PUNCT
ftr-443	710	10	1987	1987	NUM
ftr-443	710	11	)	)	PUNCT
ftr-443	710	12	;	;	PUNCT
ftr-443	710	13	abramson	abramson	PROPN
ftr-443	710	14	v.	v.	PROPN
ftr-443	710	15	commissioner	commissioner	PROPN
ftr-443	710	16	,	,	PUNCT
ftr-443	710	17	86	86	NUM
ftr-443	710	18	t.c	t.c	PROPN
ftr-443	710	19	.	.	PROPN
ftr-443	710	20	360	360	NUM
ftr-443	710	21	(	(	PUNCT
ftr-443	710	22	1986	1986	NUM
ftr-443	710	23	)	)	PUNCT
ftr-443	710	24	.	.	PUNCT
ftr-443	711	1	it	it	PRON
ftr-443	711	2	remains	remain	VERB
ftr-443	711	3	uncertain	uncertain	ADJ
ftr-443	711	4	how	how	SCONJ
ftr-443	711	5	a	a	DET
ftr-443	711	6	shareholder	shareholder	NOUN
ftr-443	711	7	establishes	establish	VERB
ftr-443	711	8	the	the	DET
ftr-443	711	9	initial	initial	ADJ
ftr-443	711	10	at	at	ADP
ftr-443	711	11	-	-	PUNCT
ftr-443	711	12	risk	risk	NOUN
ftr-443	711	13	amount	amount	NOUN
ftr-443	711	14	after	after	SCONJ
ftr-443	711	15	the	the	DET
ftr-443	711	16	corporation	corporation	NOUN
ftr-443	711	17	converts	convert	VERB
ftr-443	711	18	from	from	ADP
ftr-443	711	19	c	c	PROPN
ftr-443	711	20	to	to	ADP
ftr-443	711	21	s	s	PRON
ftr-443	711	22	status	status	NOUN
ftr-443	711	23	.	.	PUNCT
ftr-443	712	1	in	in	ADP
ftr-443	712	2	the	the	DET
ftr-443	712	3	absence	absence	NOUN
ftr-443	712	4	of	of	ADP
ftr-443	712	5	guidance	guidance	NOUN
ftr-443	712	6	,	,	PUNCT
ftr-443	712	7	it	it	PRON
ftr-443	712	8	should	should	AUX
ftr-443	712	9	be	be	AUX
ftr-443	712	10	assumed	assume	VERB
ftr-443	712	11	that	that	SCONJ
ftr-443	712	12	stock	stock	NOUN
ftr-443	712	13	(	(	PUNCT
ftr-443	712	14	and	and	CCONJ
ftr-443	712	15	debt	debt	NOUN
ftr-443	712	16	)	)	PUNCT
ftr-443	712	17	basis	basis	NOUN
ftr-443	712	18	outstanding	outstanding	ADJ
ftr-443	712	19	as	as	ADP
ftr-443	712	20	of	of	ADP
ftr-443	712	21	such	such	ADJ
ftr-443	712	22	date	date	NOUN
ftr-443	712	23	is	be	AUX
ftr-443	712	24	the	the	DET
ftr-443	712	25	gross	gross	ADJ
ftr-443	712	26	amount	amount	NOUN
ftr-443	712	27	,	,	PUNCT
ftr-443	712	28	which	which	PRON
ftr-443	712	29	then	then	ADV
ftr-443	712	30	must	must	AUX
ftr-443	712	31	be	be	AUX
ftr-443	712	32	allocated	allocate	VERB
ftr-443	712	33	among	among	ADP
ftr-443	712	34	the	the	DET
ftr-443	712	35	corporation	corporation	NOUN
ftr-443	712	36	's	's	PART
ftr-443	712	37	at	at	ADP
ftr-443	712	38	-	-	PUNCT
ftr-443	712	39	risk	risk	NOUN
ftr-443	712	40	activities	activity	NOUN
ftr-443	712	41	.	.	PUNCT
ftr-443	713	1	104	104	X
ftr-443	713	2	.	.	PUNCT
ftr-443	714	1	see	see	VERB
ftr-443	714	2	prop	prop	NOUN
ftr-443	714	3	.	.	PUNCT
ftr-443	715	1	regs	regs	PROPN
ftr-443	715	2	.	.	PUNCT
ftr-443	716	1	§	§	PROPN
ftr-443	716	2	1.465	1.465	NUM
ftr-443	716	3	-	-	PUNCT
ftr-443	716	4	10(c	10(c	NUM
ftr-443	716	5	)	)	PUNCT
ftr-443	716	6	.	.	PUNCT
ftr-443	717	1	19991	19991	NUM
ftr-443	717	2	florida	florida	PROPN
ftr-443	717	3	tax	tax	PROPN
ftr-443	717	4	review	review	NOUN
ftr-443	717	5	moreover	moreover	ADV
ftr-443	717	6	,	,	PUNCT
ftr-443	717	7	the	the	DET
ftr-443	717	8	passive	passive	ADJ
ftr-443	717	9	activity	activity	NOUN
ftr-443	717	10	loss	loss	NOUN
ftr-443	717	11	rules	rule	NOUN
ftr-443	717	12	of	of	ADP
ftr-443	717	13	section	section	NOUN
ftr-443	717	14	469	469	NUM
ftr-443	717	15	apply	apply	VERB
ftr-443	717	16	after	after	SCONJ
ftr-443	717	17	the	the	DET
ftr-443	717	18	foregoing	forego	VERB
ftr-443	717	19	two	two	NUM
ftr-443	717	20	loss	loss	NOUN
ftr-443	717	21	limitations	limitation	NOUN
ftr-443	717	22	are	be	AUX
ftr-443	717	23	hurdled	hurdle	VERB
ftr-443	717	24	.	.	PUNCT
ftr-443	718	1	5	5	NUM
ftr-443	718	2	an	an	DET
ftr-443	718	3	s	s	NOUN
ftr-443	718	4	shareholder	shareholder	NOUN
ftr-443	718	5	is	be	AUX
ftr-443	718	6	separately	separately	ADV
ftr-443	718	7	allocated	allocate	VERB
ftr-443	718	8	items	item	NOUN
ftr-443	718	9	of	of	ADP
ftr-443	718	10	income	income	NOUN
ftr-443	718	11	,	,	PUNCT
ftr-443	718	12	deduction	deduction	NOUN
ftr-443	718	13	,	,	PUNCT
ftr-443	718	14	loss	loss	NOUN
ftr-443	718	15	,	,	PUNCT
ftr-443	718	16	and	and	CCONJ
ftr-443	718	17	credit	credit	NOUN
ftr-443	718	18	,	,	PUNCT
ftr-443	718	19	and	and	CCONJ
ftr-443	718	20	these	these	PRON
ftr-443	718	21	are	be	AUX
ftr-443	718	22	segregated	segregate	VERB
ftr-443	718	23	among	among	ADP
ftr-443	718	24	items	item	NOUN
ftr-443	718	25	of	of	ADP
ftr-443	718	26	portfolio	portfolio	NOUN
ftr-443	718	27	income	income	NOUN
ftr-443	718	28	(	(	PUNCT
ftr-443	718	29	and	and	CCONJ
ftr-443	718	30	directly	directly	ADV
ftr-443	718	31	allocable	allocable	ADJ
ftr-443	718	32	expense	expense	NOUN
ftr-443	718	33	)	)	PUNCT
ftr-443	718	34	and	and	CCONJ
ftr-443	718	35	the	the	DET
ftr-443	718	36	corporation	corporation	NOUN
ftr-443	718	37	's	's	PART
ftr-443	718	38	section	section	NOUN
ftr-443	718	39	469	469	NUM
ftr-443	718	40	activities	activity	NOUN
ftr-443	718	41	.	.	PUNCT
ftr-443	718	42	"	"	PUNCT
ftr-443	719	1	°	°	ADP
ftr-443	719	2	each	each	DET
ftr-443	719	3	shareholder	shareholder	NOUN
ftr-443	719	4	then	then	ADV
ftr-443	719	5	determines	determine	VERB
ftr-443	719	6	to	to	ADP
ftr-443	719	7	what	what	DET
ftr-443	719	8	extent	extent	NOUN
ftr-443	719	9	he	he	PRON
ftr-443	719	10	or	or	CCONJ
ftr-443	719	11	she	she	PRON
ftr-443	719	12	materially	materially	ADV
ftr-443	719	13	(	(	PUNCT
ftr-443	719	14	or	or	CCONJ
ftr-443	719	15	significantly	significantly	ADV
ftr-443	719	16	)	)	PUNCT
ftr-443	719	17	participated	participate	VERB
ftr-443	719	18	in	in	ADP
ftr-443	719	19	each	each	DET
ftr-443	719	20	section	section	NOUN
ftr-443	719	21	469	469	NUM
ftr-443	719	22	activity	activity	NOUN
ftr-443	719	23	.	.	PUNCT
ftr-443	720	1	b.	b.	PROPN
ftr-443	720	2	rules	rule	NOUN
ftr-443	720	3	for	for	ADP
ftr-443	720	4	llcs.-a	llcs.-a	NOUN
ftr-443	720	5	well	well	ADV
ftr-443	720	6	-	-	PUNCT
ftr-443	720	7	recognized	recognize	VERB
ftr-443	720	8	advantage	advantage	NOUN
ftr-443	720	9	of	of	ADP
ftr-443	720	10	the	the	DET
ftr-443	720	11	partnership	partnership	NOUN
ftr-443	720	12	for	for	ADP
ftr-443	720	13	federal	federal	ADJ
ftr-443	720	14	income	income	NOUN
ftr-443	720	15	tax	tax	NOUN
ftr-443	720	16	purposes	purpose	NOUN
ftr-443	720	17	is	be	AUX
ftr-443	720	18	the	the	DET
ftr-443	720	19	ability	ability	NOUN
ftr-443	720	20	to	to	PART
ftr-443	720	21	include	include	VERB
ftr-443	720	22	a	a	DET
ftr-443	720	23	proportionate	proportionate	ADJ
ftr-443	720	24	share	share	NOUN
ftr-443	720	25	of	of	ADP
ftr-443	720	26	entity	entity	NOUN
ftr-443	720	27	level	level	NOUN
ftr-443	720	28	debt	debt	NOUN
ftr-443	720	29	in	in	ADP
ftr-443	720	30	a	a	DET
ftr-443	720	31	partner	partner	NOUN
ftr-443	720	32	's	's	PART
ftr-443	720	33	outside	outside	ADJ
ftr-443	720	34	basis	basis	NOUN
ftr-443	720	35	.	.	PUNCT
ftr-443	721	1	this	this	PRON
ftr-443	721	2	enhances	enhance	VERB
ftr-443	721	3	a	a	DET
ftr-443	721	4	partner	partner	NOUN
ftr-443	721	5	's	's	PART
ftr-443	721	6	ability	ability	NOUN
ftr-443	721	7	to	to	PART
ftr-443	721	8	deduct	deduct	VERB
ftr-443	721	9	partnership	partnership	NOUN
ftr-443	721	10	losses	loss	NOUN
ftr-443	721	11	currently	currently	ADV
ftr-443	721	12	and	and	CCONJ
ftr-443	721	13	facilitates	facilitate	VERB
ftr-443	721	14	tax	tax	NOUN
ftr-443	721	15	-	-	PUNCT
ftr-443	721	16	free	free	ADJ
ftr-443	721	17	distributions	distribution	NOUN
ftr-443	721	18	.	.	PUNCT
ftr-443	722	1	this	this	DET
ftr-443	722	2	advantage	advantage	NOUN
ftr-443	722	3	applies	apply	VERB
ftr-443	722	4	to	to	ADP
ftr-443	722	5	members	member	NOUN
ftr-443	722	6	of	of	ADP
ftr-443	722	7	llcs	llcs	NOUN
ftr-443	722	8	taxed	tax	VERB
ftr-443	722	9	as	as	ADP
ftr-443	722	10	partnerships	partnership	NOUN
ftr-443	722	11	.	.	PUNCT
ftr-443	723	1	a	a	DET
ftr-443	723	2	threshold	threshold	NOUN
ftr-443	723	3	issue	issue	NOUN
ftr-443	723	4	in	in	ADP
ftr-443	723	5	determining	determine	VERB
ftr-443	723	6	the	the	DET
ftr-443	723	7	partner	partner	NOUN
ftr-443	723	8	/	/	SYM
ftr-443	723	9	member	member	NOUN
ftr-443	723	10	's	's	PART
ftr-443	723	11	share	share	NOUN
ftr-443	723	12	of	of	ADP
ftr-443	723	13	entity	entity	NOUN
ftr-443	723	14	debt	debt	NOUN
ftr-443	723	15	is	be	AUX
ftr-443	723	16	whether	whether	SCONJ
ftr-443	723	17	the	the	DET
ftr-443	723	18	debt	debt	NOUN
ftr-443	723	19	should	should	AUX
ftr-443	723	20	be	be	AUX
ftr-443	723	21	characterized	characterize	VERB
ftr-443	723	22	as	as	ADP
ftr-443	723	23	recourse	recourse	NOUN
ftr-443	723	24	or	or	CCONJ
ftr-443	723	25	nonrecourse	nonrecourse	NOUN
ftr-443	723	26	,	,	PUNCT
ftr-443	723	27	based	base	VERB
ftr-443	723	28	on	on	ADP
ftr-443	723	29	an	an	DET
ftr-443	723	30	"	"	PUNCT
ftr-443	723	31	economic	economic	ADJ
ftr-443	723	32	risk	risk	NOUN
ftr-443	723	33	of	of	ADP
ftr-443	723	34	loss	loss	NOUN
ftr-443	723	35	"	"	PUNCT
ftr-443	723	36	analysis	analysis	NOUN
ftr-443	723	37	.	.	PUNCT
ftr-443	723	38	"	"	PUNCT
ftr-443	724	1	generally	generally	ADV
ftr-443	724	2	,	,	PUNCT
ftr-443	724	3	all	all	PRON
ftr-443	724	4	of	of	ADP
ftr-443	724	5	an	an	DET
ftr-443	724	6	llc	llc	NOUN
ftr-443	724	7	's	's	PART
ftr-443	724	8	debt	debt	NOUN
ftr-443	724	9	is	be	AUX
ftr-443	724	10	nonrecourse	nonrecourse	ADJ
ftr-443	724	11	if	if	SCONJ
ftr-443	724	12	no	no	DET
ftr-443	724	13	member	member	NOUN
ftr-443	724	14	is	be	AUX
ftr-443	724	15	liable	liable	ADJ
ftr-443	724	16	for	for	ADP
ftr-443	724	17	repayment	repayment	NOUN
ftr-443	724	18	.	.	PUNCT
ftr-443	725	1	as	as	ADP
ftr-443	725	2	nonrecourse	nonrecourse	NOUN
ftr-443	725	3	debt	debt	NOUN
ftr-443	725	4	,	,	PUNCT
ftr-443	725	5	it	it	PRON
ftr-443	725	6	is	be	AUX
ftr-443	725	7	usually	usually	ADV
ftr-443	725	8	allocated	allocate	VERB
ftr-443	725	9	among	among	ADP
ftr-443	725	10	the	the	DET
ftr-443	725	11	members	member	NOUN
ftr-443	725	12	in	in	ADP
ftr-443	725	13	proportion	proportion	NOUN
ftr-443	725	14	to	to	ADP
ftr-443	725	15	their	their	PRON
ftr-443	725	16	profit	profit	NOUN
ftr-443	725	17	ratios	ratio	NOUN
ftr-443	725	18	.	.	PUNCT
ftr-443	726	1	°	°	ADP
ftr-443	726	2	8	8	NUM
ftr-443	726	3	however	however	ADV
ftr-443	726	4	,	,	PUNCT
ftr-443	726	5	a	a	DET
ftr-443	726	6	debt	debt	NOUN
ftr-443	726	7	may	may	AUX
ftr-443	726	8	"	"	PUNCT
ftr-443	726	9	recourse	recourse	VERB
ftr-443	726	10	"	"	PUNCT
ftr-443	726	11	with	with	ADP
ftr-443	726	12	respect	respect	NOUN
ftr-443	726	13	to	to	ADP
ftr-443	726	14	a	a	DET
ftr-443	726	15	particular	particular	ADJ
ftr-443	726	16	member	member	NOUN
ftr-443	726	17	,	,	PUNCT
ftr-443	726	18	to	to	PART
ftr-443	726	19	whom	whom	PRON
ftr-443	726	20	the	the	DET
ftr-443	726	21	debt	debt	NOUN
ftr-443	726	22	must	must	AUX
ftr-443	726	23	then	then	ADV
ftr-443	726	24	be	be	AUX
ftr-443	726	25	allocated	allocate	VERB
ftr-443	726	26	,	,	PUNCT
ftr-443	726	27	if	if	SCONJ
ftr-443	726	28	,	,	PUNCT
ftr-443	726	29	for	for	ADP
ftr-443	726	30	example	example	NOUN
ftr-443	726	31	,	,	PUNCT
ftr-443	726	32	the	the	DET
ftr-443	726	33	member	member	NOUN
ftr-443	726	34	or	or	CCONJ
ftr-443	726	35	a	a	DET
ftr-443	726	36	person	person	NOUN
ftr-443	726	37	related	relate	VERB
ftr-443	726	38	to	to	ADP
ftr-443	726	39	the	the	DET
ftr-443	726	40	member	member	NOUN
ftr-443	726	41	guarantees	guarantee	VERB
ftr-443	726	42	the	the	DET
ftr-443	726	43	debt	debt	NOUN
ftr-443	726	44	or	or	CCONJ
ftr-443	726	45	the	the	DET
ftr-443	726	46	debt	debt	NOUN
ftr-443	726	47	is	be	AUX
ftr-443	726	48	loan	loan	NOUN
ftr-443	726	49	to	to	ADP
ftr-443	726	50	the	the	DET
ftr-443	726	51	llc	llc	NOUN
ftr-443	726	52	from	from	ADP
ftr-443	726	53	the	the	DET
ftr-443	726	54	member	member	NOUN
ftr-443	726	55	or	or	CCONJ
ftr-443	726	56	related	related	ADJ
ftr-443	726	57	person	person	NOUN
ftr-443	726	58	.	.	PUNCT
ftr-443	726	59	"	"	PUNCT
ftr-443	727	1	the	the	DET
ftr-443	727	2	at	at	ADP
ftr-443	727	3	-	-	PUNCT
ftr-443	727	4	risk	risk	NOUN
ftr-443	727	5	rules	rule	NOUN
ftr-443	727	6	also	also	ADV
ftr-443	727	7	apply	apply	VERB
ftr-443	727	8	to	to	ADP
ftr-443	727	9	llc	llc	PROPN
ftr-443	727	10	members	member	NOUN
ftr-443	727	11	.	.	PUNCT
ftr-443	728	1	since	since	SCONJ
ftr-443	728	2	the	the	DET
ftr-443	728	3	debt	debt	NOUN
ftr-443	728	4	is	be	AUX
ftr-443	728	5	typically	typically	ADV
ftr-443	728	6	without	without	ADP
ftr-443	728	7	recourse	recourse	NOUN
ftr-443	728	8	to	to	ADP
ftr-443	728	9	the	the	DET
ftr-443	728	10	members	member	NOUN
ftr-443	728	11	,	,	PUNCT
ftr-443	728	12	they	they	PRON
ftr-443	728	13	usually	usually	ADV
ftr-443	728	14	can	can	AUX
ftr-443	728	15	not	not	PART
ftr-443	728	16	include	include	VERB
ftr-443	728	17	it	it	PRON
ftr-443	728	18	in	in	ADP
ftr-443	728	19	their	their	PRON
ftr-443	728	20	at	at	ADP
ftr-443	728	21	-	-	PUNCT
ftr-443	728	22	risk	risk	NOUN
ftr-443	728	23	amounts	amount	NOUN
ftr-443	728	24	unless	unless	SCONJ
ftr-443	728	25	they	they	PRON
ftr-443	728	26	have	have	AUX
ftr-443	728	27	personally	personally	ADV
ftr-443	728	28	liable	liable	ADJ
ftr-443	728	29	for	for	ADP
ftr-443	728	30	repayment	repayment	NOUN
ftr-443	728	31	or	or	CCONJ
ftr-443	728	32	have	have	AUX
ftr-443	728	33	pledged	pledge	VERB
ftr-443	728	34	property	property	NOUN
ftr-443	728	35	as	as	ADP
ftr-443	728	36	security	security	NOUN
ftr-443	728	37	for	for	ADP
ftr-443	728	38	the	the	DET
ftr-443	728	39	debt	debt	NOUN
ftr-443	728	40	.	.	PUNCT
ftr-443	729	1	"	"	PUNCT
ftr-443	729	2	'	'	PUNCT
ftr-443	729	3	thus	thus	ADV
ftr-443	729	4	,	,	PUNCT
ftr-443	729	5	an	an	DET
ftr-443	729	6	llc	llc	PROPN
ftr-443	729	7	member	member	NOUN
ftr-443	729	8	who	who	PRON
ftr-443	729	9	personally	personally	ADV
ftr-443	729	10	guarantees	guarantee	VERB
ftr-443	729	11	a	a	DET
ftr-443	729	12	debt	debt	NOUN
ftr-443	729	13	of	of	ADP
ftr-443	729	14	the	the	DET
ftr-443	729	15	entity	entity	NOUN
ftr-443	729	16	is	be	AUX
ftr-443	729	17	considered	consider	VERB
ftr-443	729	18	"	"	PUNCT
ftr-443	729	19	at	at	ADP
ftr-443	729	20	-	-	PUNCT
ftr-443	729	21	risk	risk	NOUN
ftr-443	729	22	,	,	PUNCT
ftr-443	729	23	"	"	PUNCT
ftr-443	729	24	whereas	whereas	SCONJ
ftr-443	729	25	an	an	DET
ftr-443	729	26	s	s	NOUN
ftr-443	729	27	shareholder	shareholder	NOUN
ftr-443	729	28	counterpart	counterpart	NOUN
ftr-443	729	29	may	may	AUX
ftr-443	729	30	not	not	PART
ftr-443	729	31	be	be	AUX
ftr-443	729	32	.	.	PUNCT
ftr-443	729	33	"	"	PUNCT
ftr-443	729	34	'	'	PUNCT
ftr-443	729	35	also	also	ADV
ftr-443	729	36	,	,	PUNCT
ftr-443	729	37	llc	llc	PROPN
ftr-443	729	38	members	member	NOUN
ftr-443	729	39	should	should	AUX
ftr-443	729	40	be	be	AUX
ftr-443	729	41	able	able	ADJ
ftr-443	729	42	to	to	PART
ftr-443	729	43	include	include	VERB
ftr-443	729	44	their	their	PRON
ftr-443	729	45	shares	share	NOUN
ftr-443	729	46	of	of	ADP
ftr-443	729	47	nonrecourse	nonrecourse	NOUN
ftr-443	729	48	debt	debt	NOUN
ftr-443	729	49	secured	secure	VERB
ftr-443	729	50	by	by	ADP
ftr-443	729	51	real	real	ADJ
ftr-443	729	52	estate	estate	NOUN
ftr-443	729	53	if	if	SCONJ
ftr-443	729	54	the	the	DET
ftr-443	729	55	105	105	NUM
ftr-443	729	56	.	.	PUNCT
ftr-443	730	1	see	see	VERB
ftr-443	730	2	temp	temp	NOUN
ftr-443	730	3	.	.	PUNCT
ftr-443	731	1	regs	regs	PROPN
ftr-443	731	2	.	.	PUNCT
ftr-443	732	1	§	§	PROPN
ftr-443	732	2	1.469	1.469	NUM
ftr-443	732	3	-	-	SYM
ftr-443	732	4	2(d)(5	2(d)(5	NUM
ftr-443	732	5	)	)	PUNCT
ftr-443	732	6	;	;	PUNCT
ftr-443	732	7	jerald	jerald	PROPN
ftr-443	732	8	d.	d.	PROPN
ftr-443	732	9	august	august	PROPN
ftr-443	732	10	,	,	PUNCT
ftr-443	732	11	basis	basis	NOUN
ftr-443	732	12	traps	trap	NOUN
ftr-443	732	13	under	under	ADP
ftr-443	732	14	subchapter	subchapter	NOUN
ftr-443	732	15	s	s	NOUN
ftr-443	732	16	:	:	PUNCT
ftr-443	732	17	competing	compete	VERB
ftr-443	732	18	in	in	ADP
ftr-443	732	19	the	the	DET
ftr-443	732	20	basis	basis	NOUN
ftr-443	732	21	triathlon	triathlon	NOUN
ftr-443	732	22	,	,	PUNCT
ftr-443	732	23	in	in	ADP
ftr-443	732	24	new	new	PROPN
ftr-443	732	25	york	york	PROPN
ftr-443	732	26	university	university	PROPN
ftr-443	732	27	-	-	PUNCT
ftr-443	732	28	proceedings	proceeding	NOUN
ftr-443	732	29	of	of	ADP
ftr-443	732	30	the	the	DET
ftr-443	732	31	forty	forty	NUM
ftr-443	732	32	-	-	PUNCT
ftr-443	732	33	eighth	eighth	NOUN
ftr-443	732	34	institute	institute	NOUN
ftr-443	732	35	on	on	ADP
ftr-443	732	36	federal	federal	ADJ
ftr-443	732	37	taxation	taxation	NOUN
ftr-443	732	38	§	§	PROPN
ftr-443	732	39	7	7	NUM
ftr-443	732	40	-	-	SYM
ftr-443	732	41	1	1	NUM
ftr-443	732	42	(	(	PUNCT
ftr-443	732	43	1990	1990	NUM
ftr-443	732	44	)	)	PUNCT
ftr-443	732	45	;	;	PUNCT
ftr-443	732	46	jerald	jerald	PROPN
ftr-443	732	47	d.	d.	PROPN
ftr-443	732	48	august	august	PROPN
ftr-443	732	49	,	,	PUNCT
ftr-443	732	50	how	how	SCONJ
ftr-443	732	51	do	do	AUX
ftr-443	732	52	the	the	DET
ftr-443	732	53	passive	passive	ADJ
ftr-443	732	54	activity	activity	NOUN
ftr-443	732	55	loss	loss	NOUN
ftr-443	732	56	rules	rule	NOUN
ftr-443	732	57	apply	apply	VERB
ftr-443	732	58	to	to	ADP
ftr-443	732	59	s	s	PROPN
ftr-443	732	60	and	and	CCONJ
ftr-443	732	61	c	c	NOUN
ftr-443	732	62	corporations	corporation	NOUN
ftr-443	732	63	?	?	PUNCT
ftr-443	733	1	5	5	NUM
ftr-443	733	2	j.	j.	PROPN
ftr-443	733	3	partnership	partnership	PROPN
ftr-443	733	4	tax'n	tax'n	ADP
ftr-443	733	5	218	218	NUM
ftr-443	733	6	(	(	PUNCT
ftr-443	733	7	1988	1988	NUM
ftr-443	733	8	)	)	PUNCT
ftr-443	733	9	.	.	PUNCT
ftr-443	734	1	106	106	NUM
ftr-443	734	2	.	.	PUNCT
ftr-443	735	1	see	see	VERB
ftr-443	735	2	generally	generally	ADV
ftr-443	735	3	regs	reg	NOUN
ftr-443	735	4	.	.	PUNCT
ftr-443	736	1	§	§	PROPN
ftr-443	736	2	1.469	1.469	NUM
ftr-443	736	3	-	-	SYM
ftr-443	736	4	4	4	NUM
ftr-443	736	5	.	.	NOUN
ftr-443	736	6	107	107	NUM
ftr-443	736	7	.	.	PUNCT
ftr-443	737	1	see	see	VERB
ftr-443	737	2	regs	reg	NOUN
ftr-443	737	3	.	.	PUNCT
ftr-443	738	1	§	§	PROPN
ftr-443	738	2	§	§	PROPN
ftr-443	738	3	1.752	1.752	NUM
ftr-443	738	4	-	-	SYM
ftr-443	738	5	1(a)(2	1(a)(2	NUM
ftr-443	738	6	)	)	PUNCT
ftr-443	738	7	,	,	PUNCT
ftr-443	738	8	-2(c	-2(c	NOUN
ftr-443	738	9	)	)	PUNCT
ftr-443	738	10	,	,	PUNCT
ftr-443	738	11	-2(d	-2(d	PROPN
ftr-443	738	12	)	)	PUNCT
ftr-443	738	13	.	.	PUNCT
ftr-443	739	1	108	108	NUM
ftr-443	739	2	.	.	PUNCT
ftr-443	740	1	see	see	VERB
ftr-443	740	2	regs	reg	NOUN
ftr-443	740	3	.	.	PUNCT
ftr-443	741	1	§	§	PROPN
ftr-443	741	2	1.752	1.752	NUM
ftr-443	741	3	-	-	SYM
ftr-443	741	4	3	3	NUM
ftr-443	741	5	.	.	NUM
ftr-443	741	6	109	109	NUM
ftr-443	741	7	.	.	PUNCT
ftr-443	742	1	other	other	ADJ
ftr-443	742	2	instances	instance	NOUN
ftr-443	742	3	for	for	ADP
ftr-443	742	4	finding	find	VERB
ftr-443	742	5	recourse	recourse	NOUN
ftr-443	742	6	debt	debt	NOUN
ftr-443	742	7	in	in	ADP
ftr-443	742	8	an	an	DET
ftr-443	742	9	llc	llc	NOUN
ftr-443	742	10	may	may	AUX
ftr-443	742	11	exist	exist	VERB
ftr-443	742	12	where	where	SCONJ
ftr-443	742	13	the	the	DET
ftr-443	742	14	debt	debt	NOUN
ftr-443	742	15	falls	fall	VERB
ftr-443	742	16	within	within	ADP
ftr-443	742	17	the	the	DET
ftr-443	742	18	interest	interest	NOUN
ftr-443	742	19	guarantee	guarantee	NOUN
ftr-443	742	20	or	or	CCONJ
ftr-443	742	21	property	property	NOUN
ftr-443	742	22	pledge	pledge	NOUN
ftr-443	742	23	rules	rule	NOUN
ftr-443	742	24	in	in	ADP
ftr-443	742	25	regs	reg	NOUN
ftr-443	742	26	.	.	PUNCT
ftr-443	743	1	§	§	PROPN
ftr-443	743	2	§	§	PROPN
ftr-443	743	3	1.752	1.752	NUM
ftr-443	743	4	-	-	SYM
ftr-443	743	5	2(e	2(e	NUM
ftr-443	743	6	)	)	PUNCT
ftr-443	743	7	and	and	CCONJ
ftr-443	743	8	-2(h	-2(h	PROPN
ftr-443	743	9	)	)	PUNCT
ftr-443	743	10	.	.	PUNCT
ftr-443	744	1	110	110	NUM
ftr-443	744	2	.	.	PUNCT
ftr-443	744	3	see	see	VERB
ftr-443	744	4	irc	irc	PROPN
ftr-443	744	5	§	§	PROPN
ftr-443	744	6	§	§	PROPN
ftr-443	744	7	465(b)(1	465(b)(1	NUM
ftr-443	744	8	)	)	PUNCT
ftr-443	744	9	,	,	PUNCT
ftr-443	744	10	(	(	PUNCT
ftr-443	744	11	2	2	NUM
ftr-443	744	12	)	)	PUNCT
ftr-443	744	13	.	.	PUNCT
ftr-443	745	1	111	111	NUM
ftr-443	745	2	.	.	PUNCT
ftr-443	746	1	see	see	VERB
ftr-443	746	2	melvin	melvin	PROPN
ftr-443	746	3	,	,	PUNCT
ftr-443	746	4	88	88	NUM
ftr-443	746	5	t.c	t.c	PROPN
ftr-443	746	6	.	.	PUNCT
ftr-443	747	1	at	at	ADP
ftr-443	747	2	63	63	NUM
ftr-443	747	3	.	.	PUNCT
ftr-443	748	1	but	but	CCONJ
ftr-443	748	2	see	see	VERB
ftr-443	748	3	prop	prop	NOUN
ftr-443	748	4	.	.	PUNCT
ftr-443	749	1	regs	regs	PROPN
ftr-443	749	2	.	.	PUNCT
ftr-443	750	1	§	§	PROPN
ftr-443	750	2	1.465	1.465	NUM
ftr-443	750	3	-	-	PUNCT
ftr-443	750	4	6(d	6(d	NUM
ftr-443	750	5	)	)	PUNCT
ftr-443	750	6	.	.	PUNCT
ftr-443	751	1	[	[	X
ftr-443	751	2	vol	vol	NOUN
ftr-443	751	3	.	.	PUNCT
ftr-443	752	1	4.3	4.3	NUM
ftr-443	752	2	benefits	benefit	NOUN
ftr-443	752	3	and	and	CCONJ
ftr-443	752	4	burdens	burden	NOUN
ftr-443	752	5	of	of	ADP
ftr-443	752	6	subchapter	subchapter	NOUN
ftr-443	752	7	s	s	PART
ftr-443	753	1	debt	debt	NOUN
ftr-443	753	2	meets	meet	VERB
ftr-443	753	3	the	the	DET
ftr-443	753	4	definition	definition	NOUN
ftr-443	753	5	of	of	ADP
ftr-443	753	6	qualified	qualified	ADJ
ftr-443	753	7	nonrecourse	nonrecourse	NOUN
ftr-443	753	8	financing	financing	NOUN
ftr-443	753	9	in	in	ADP
ftr-443	753	10	section	section	NOUN
ftr-443	753	11	465(b)(6	465(b)(6	NUM
ftr-443	753	12	)	)	PUNCT
ftr-443	753	13	.	.	PUNCT
ftr-443	753	14	"	"	PUNCT
ftr-443	754	1	2	2	NUM
ftr-443	754	2	this	this	DET
ftr-443	754	3	exception	exception	NOUN
ftr-443	754	4	is	be	AUX
ftr-443	754	5	not	not	PART
ftr-443	754	6	applicable	applicable	ADJ
ftr-443	754	7	to	to	ADP
ftr-443	754	8	s	s	NOUN
ftr-443	754	9	shareholders	shareholder	NOUN
ftr-443	754	10	.	.	PUNCT
ftr-443	754	11	"	"	PUNCT
ftr-443	755	1	3	3	NUM
ftr-443	755	2	the	the	DET
ftr-443	755	3	application	application	NOUN
ftr-443	755	4	of	of	ADP
ftr-443	755	5	the	the	DET
ftr-443	755	6	passive	passive	ADJ
ftr-443	755	7	activity	activity	NOUN
ftr-443	755	8	loss	loss	NOUN
ftr-443	755	9	rules	rule	NOUN
ftr-443	755	10	to	to	PART
ftr-443	755	11	llcs	llcs	PROPN
ftr-443	755	12	is	be	AUX
ftr-443	755	13	uncertain	uncertain	ADJ
ftr-443	755	14	.	.	PUNCT
ftr-443	756	1	section	section	NOUN
ftr-443	756	2	469(h)(2	469(h)(2	NUM
ftr-443	756	3	)	)	PUNCT
ftr-443	756	4	precludes	preclude	VERB
ftr-443	756	5	a	a	DET
ftr-443	756	6	limited	limited	ADJ
ftr-443	756	7	partner	partner	NOUN
ftr-443	756	8	from	from	ADP
ftr-443	756	9	satisfying	satisfy	VERB
ftr-443	756	10	the	the	DET
ftr-443	756	11	material	material	ADJ
ftr-443	756	12	participation	participation	NOUN
ftr-443	756	13	test	test	NOUN
ftr-443	756	14	,	,	PUNCT
ftr-443	756	15	except	except	SCONJ
ftr-443	756	16	where	where	SCONJ
ftr-443	756	17	the	the	DET
ftr-443	756	18	regulations	regulation	NOUN
ftr-443	756	19	lift	lift	VERB
ftr-443	756	20	this	this	DET
ftr-443	756	21	bar	bar	NOUN
ftr-443	756	22	.	.	PUNCT
ftr-443	757	1	under	under	ADP
ftr-443	757	2	the	the	DET
ftr-443	757	3	regulations	regulation	NOUN
ftr-443	757	4	,	,	PUNCT
ftr-443	757	5	a	a	DET
ftr-443	757	6	limited	limited	ADJ
ftr-443	757	7	partner	partner	NOUN
ftr-443	757	8	is	be	AUX
ftr-443	757	9	active	active	ADJ
ftr-443	757	10	as	as	ADP
ftr-443	757	11	to	to	ADP
ftr-443	757	12	the	the	DET
ftr-443	757	13	partnership	partnership	NOUN
ftr-443	757	14	's	's	PART
ftr-443	757	15	activities	activity	NOUN
ftr-443	757	16	if	if	SCONJ
ftr-443	757	17	he	he	PRON
ftr-443	757	18	or	or	CCONJ
ftr-443	757	19	she	she	PRON
ftr-443	757	20	satisfies	satisfy	VERB
ftr-443	757	21	either	either	CCONJ
ftr-443	757	22	(	(	PUNCT
ftr-443	757	23	1	1	X
ftr-443	757	24	)	)	PUNCT
ftr-443	757	25	the	the	DET
ftr-443	757	26	500	500	NUM
ftr-443	757	27	hour	hour	NOUN
ftr-443	757	28	material	material	NOUN
ftr-443	757	29	participation	participation	NOUN
ftr-443	757	30	test,"4	test,"4	NOUN
ftr-443	757	31	(	(	PUNCT
ftr-443	757	32	2	2	NUM
ftr-443	757	33	)	)	PUNCT
ftr-443	757	34	the	the	DET
ftr-443	757	35	five	five	NUM
ftr-443	757	36	out	out	ADP
ftr-443	757	37	of	of	ADP
ftr-443	757	38	prior	prior	ADJ
ftr-443	757	39	ten	ten	NUM
ftr-443	757	40	year	year	NOUN
ftr-443	757	41	test,"5	test,"5	ADJ
ftr-443	757	42	or	or	CCONJ
ftr-443	757	43	(	(	PUNCT
ftr-443	757	44	3	3	X
ftr-443	757	45	)	)	PUNCT
ftr-443	757	46	the	the	DET
ftr-443	757	47	three	three	NUM
ftr-443	757	48	-	-	PUNCT
ftr-443	757	49	year	year	NOUN
ftr-443	757	50	rule	rule	NOUN
ftr-443	757	51	applicable	applicable	ADJ
ftr-443	757	52	to	to	ADP
ftr-443	757	53	service	service	NOUN
ftr-443	757	54	activities	activity	NOUN
ftr-443	757	55	.	.	PUNCT
ftr-443	757	56	"	"	PUNCT
ftr-443	758	1	6	6	NUM
ftr-443	758	2	if	if	SCONJ
ftr-443	758	3	an	an	DET
ftr-443	758	4	llc	llc	PROPN
ftr-443	758	5	member	member	NOUN
ftr-443	758	6	could	could	AUX
ftr-443	758	7	be	be	AUX
ftr-443	758	8	considered	consider	VERB
ftr-443	758	9	a	a	DET
ftr-443	758	10	general	general	ADJ
ftr-443	758	11	partner	partner	NOUN
ftr-443	758	12	,	,	PUNCT
ftr-443	758	13	which	which	PRON
ftr-443	758	14	is	be	AUX
ftr-443	758	15	presently	presently	ADV
ftr-443	758	16	uncertain	uncertain	ADJ
ftr-443	758	17	,	,	PUNCT
ftr-443	758	18	the	the	DET
ftr-443	758	19	material	material	ADJ
ftr-443	758	20	participation	participation	NOUN
ftr-443	758	21	test	test	NOUN
ftr-443	758	22	could	could	AUX
ftr-443	758	23	also	also	ADV
ftr-443	758	24	be	be	AUX
ftr-443	758	25	satisfied	satisfy	VERB
ftr-443	758	26	by	by	ADP
ftr-443	758	27	one	one	NUM
ftr-443	758	28	of	of	ADP
ftr-443	758	29	four	four	NUM
ftr-443	758	30	additional	additional	ADJ
ftr-443	758	31	tests	test	NOUN
ftr-443	758	32	.	.	PUNCT
ftr-443	759	1	"	"	PUNCT
ftr-443	759	2	'	'	PUNCT
ftr-443	759	3	a	a	DET
ftr-443	759	4	manager	manager	NOUN
ftr-443	759	5	-	-	PUNCT
ftr-443	759	6	member	member	NOUN
ftr-443	759	7	of	of	ADP
ftr-443	759	8	an	an	DET
ftr-443	759	9	llc	llc	NOUN
ftr-443	759	10	should	should	AUX
ftr-443	759	11	be	be	AUX
ftr-443	759	12	treated	treat	VERB
ftr-443	759	13	as	as	ADP
ftr-443	759	14	a	a	DET
ftr-443	759	15	general	general	ADJ
ftr-443	759	16	partner	partner	NOUN
ftr-443	759	17	,	,	PUNCT
ftr-443	759	18	as	as	SCONJ
ftr-443	759	19	should	should	AUX
ftr-443	759	20	possibly	possibly	ADV
ftr-443	759	21	members	member	NOUN
ftr-443	759	22	of	of	ADP
ftr-443	759	23	a	a	DET
ftr-443	759	24	member	member	NOUN
ftr-443	759	25	managed	manage	VERB
ftr-443	759	26	llc	llc	PROPN
ftr-443	759	27	.	.	PUNCT
ftr-443	760	1	however	however	ADV
ftr-443	760	2	,	,	PUNCT
ftr-443	760	3	in	in	ADP
ftr-443	760	4	the	the	DET
ftr-443	760	5	absence	absence	NOUN
ftr-443	760	6	of	of	ADP
ftr-443	760	7	further	further	ADJ
ftr-443	760	8	guidance	guidance	NOUN
ftr-443	760	9	,	,	PUNCT
ftr-443	760	10	it	it	PRON
ftr-443	760	11	should	should	AUX
ftr-443	760	12	be	be	AUX
ftr-443	760	13	assumed	assume	VERB
ftr-443	760	14	that	that	SCONJ
ftr-443	760	15	members	member	NOUN
ftr-443	760	16	who	who	PRON
ftr-443	760	17	are	be	AUX
ftr-443	760	18	not	not	PART
ftr-443	760	19	also	also	ADV
ftr-443	760	20	managers	manager	NOUN
ftr-443	760	21	are	be	AUX
ftr-443	760	22	limited	limited	ADJ
ftr-443	760	23	partners	partner	NOUN
ftr-443	760	24	for	for	ADP
ftr-443	760	25	purposes	purpose	NOUN
ftr-443	760	26	of	of	ADP
ftr-443	760	27	section	section	NOUN
ftr-443	760	28	469.18	469.18	NUM
ftr-443	760	29	13	13	NUM
ftr-443	760	30	.	.	PUNCT
ftr-443	761	1	distributions	distribution	NOUN
ftr-443	761	2	not	not	PART
ftr-443	761	3	in	in	ADP
ftr-443	761	4	redemption	redemption	NOUN
ftr-443	761	5	of	of	ADP
ftr-443	761	6	stock	stock	NOUN
ftr-443	761	7	or	or	CCONJ
ftr-443	761	8	llc	llc	PROPN
ftr-443	761	9	interest	interest	NOUN
ftr-443	761	10	a.	a.	NOUN
ftr-443	761	11	from	from	ADP
ftr-443	761	12	s	s	NOUN
ftr-443	761	13	corporations.-distributions	corporations.-distribution	NOUN
ftr-443	761	14	received	receive	VERB
ftr-443	761	15	by	by	ADP
ftr-443	761	16	a	a	DET
ftr-443	761	17	shareholder	shareholder	NOUN
ftr-443	761	18	from	from	ADP
ftr-443	761	19	an	an	DET
ftr-443	761	20	s	s	NOUN
ftr-443	761	21	corporation	corporation	NOUN
ftr-443	761	22	with	with	ADP
ftr-443	761	23	no	no	DET
ftr-443	761	24	earnings	earning	NOUN
ftr-443	761	25	and	and	CCONJ
ftr-443	761	26	profits	profit	NOUN
ftr-443	761	27	are	be	AUX
ftr-443	761	28	not	not	PART
ftr-443	761	29	taxable	taxable	ADJ
ftr-443	761	30	to	to	ADP
ftr-443	761	31	the	the	DET
ftr-443	761	32	extent	extent	NOUN
ftr-443	761	33	of	of	ADP
ftr-443	761	34	the	the	DET
ftr-443	761	35	shareholder	shareholder	NOUN
ftr-443	761	36	's	's	PART
ftr-443	761	37	stock	stock	NOUN
ftr-443	761	38	basis	basis	NOUN
ftr-443	761	39	,	,	PUNCT
ftr-443	761	40	which	which	PRON
ftr-443	761	41	is	be	AUX
ftr-443	761	42	first	first	ADV
ftr-443	761	43	adjusted	adjust	VERB
ftr-443	761	44	for	for	ADP
ftr-443	761	45	current	current	ADJ
ftr-443	761	46	year	year	NOUN
ftr-443	761	47	's	's	PART
ftr-443	761	48	income	income	NOUN
ftr-443	761	49	(	(	PUNCT
ftr-443	761	50	but	but	CCONJ
ftr-443	761	51	not	not	PART
ftr-443	761	52	deductions	deduction	NOUN
ftr-443	761	53	or	or	CCONJ
ftr-443	761	54	loss	loss	NOUN
ftr-443	761	55	)	)	PUNCT
ftr-443	761	56	.	.	PUNCT
ftr-443	761	57	"	"	PUNCT
ftr-443	762	1	9	9	NUM
ftr-443	762	2	a	a	DET
ftr-443	762	3	distribution	distribution	NOUN
ftr-443	762	4	in	in	ADP
ftr-443	762	5	excess	excess	NOUN
ftr-443	762	6	of	of	ADP
ftr-443	762	7	basis	basis	NOUN
ftr-443	762	8	is	be	AUX
ftr-443	762	9	treated	treat	VERB
ftr-443	762	10	as	as	ADP
ftr-443	762	11	gain	gain	NOUN
ftr-443	762	12	on	on	ADP
ftr-443	762	13	a	a	DET
ftr-443	762	14	sale	sale	NOUN
ftr-443	762	15	of	of	ADP
ftr-443	762	16	property	property	NOUN
ftr-443	762	17	.	.	PUNCT
ftr-443	763	1	if	if	SCONJ
ftr-443	763	2	the	the	DET
ftr-443	763	3	corporation	corporation	NOUN
ftr-443	763	4	has	have	AUX
ftr-443	763	5	accumulated	accumulate	VERB
ftr-443	763	6	earnings	earning	NOUN
ftr-443	763	7	and	and	CCONJ
ftr-443	763	8	profits	profit	NOUN
ftr-443	763	9	from	from	ADP
ftr-443	763	10	prior	prior	ADJ
ftr-443	763	11	c	c	NOUN
ftr-443	763	12	years	year	NOUN
ftr-443	763	13	,	,	PUNCT
ftr-443	763	14	distributions	distribution	NOUN
ftr-443	763	15	are	be	AUX
ftr-443	763	16	excluded	exclude	VERB
ftr-443	763	17	from	from	ADP
ftr-443	763	18	gross	gross	ADJ
ftr-443	763	19	income	income	NOUN
ftr-443	763	20	until	until	SCONJ
ftr-443	763	21	the	the	DET
ftr-443	763	22	corporation	corporation	NOUN
ftr-443	763	23	has	have	AUX
ftr-443	763	24	exhausted	exhaust	VERB
ftr-443	763	25	its	its	PRON
ftr-443	763	26	accumulated	accumulate	VERB
ftr-443	763	27	adjustments	adjustment	NOUN
ftr-443	763	28	account	account	NOUN
ftr-443	763	29	(	(	PUNCT
ftr-443	763	30	aaa	aaa	NOUN
ftr-443	763	31	)	)	PUNCT
ftr-443	763	32	,	,	PUNCT
ftr-443	763	33	which	which	PRON
ftr-443	763	34	is	be	AUX
ftr-443	763	35	essentially	essentially	ADV
ftr-443	763	36	the	the	DET
ftr-443	763	37	sum	sum	NOUN
ftr-443	763	38	of	of	ADP
ftr-443	763	39	its	its	PRON
ftr-443	763	40	taxable	taxable	ADJ
ftr-443	763	41	income	income	NOUN
ftr-443	763	42	for	for	ADP
ftr-443	763	43	the	the	DET
ftr-443	763	44	most	most	ADV
ftr-443	763	45	recent	recent	ADJ
ftr-443	763	46	uninterrupted	uninterrupted	ADJ
ftr-443	763	47	period	period	NOUN
ftr-443	763	48	of	of	ADP
ftr-443	763	49	s	s	NOUN
ftr-443	763	50	years	year	NOUN
ftr-443	763	51	.	.	PUNCT
ftr-443	764	1	"2	"2	VERB
ftr-443	764	2	under	under	ADP
ftr-443	764	3	a	a	DET
ftr-443	764	4	1996	1996	NUM
ftr-443	764	5	amendment	amendment	NOUN
ftr-443	764	6	,	,	PUNCT
ftr-443	764	7	a	a	DET
ftr-443	764	8	distribution	distribution	NOUN
ftr-443	764	9	may	may	AUX
ftr-443	764	10	be	be	AUX
ftr-443	764	11	from	from	ADP
ftr-443	764	12	prior	prior	ADJ
ftr-443	764	13	years	year	NOUN
ftr-443	764	14	'	'	PART
ftr-443	764	15	112	112	NUM
ftr-443	764	16	.	.	PUNCT
ftr-443	765	1	to	to	PART
ftr-443	765	2	qualify	qualify	VERB
ftr-443	765	3	,	,	PUNCT
ftr-443	765	4	the	the	DET
ftr-443	765	5	debt	debt	NOUN
ftr-443	765	6	must	must	AUX
ftr-443	765	7	be	be	AUX
ftr-443	765	8	nonrecourse	nonrecourse	ADJ
ftr-443	765	9	to	to	ADP
ftr-443	765	10	the	the	DET
ftr-443	765	11	entity	entity	NOUN
ftr-443	765	12	as	as	ADV
ftr-443	765	13	well	well	ADV
ftr-443	765	14	as	as	ADP
ftr-443	765	15	the	the	DET
ftr-443	765	16	members	member	NOUN
ftr-443	765	17	.	.	PUNCT
ftr-443	766	1	113	113	NUM
ftr-443	766	2	.	.	PUNCT
ftr-443	767	1	see	see	VERB
ftr-443	767	2	irc	irc	PROPN
ftr-443	767	3	§	§	PROPN
ftr-443	767	4	465(b)(6)(d	465(b)(6)(d	PROPN
ftr-443	767	5	)	)	PUNCT
ftr-443	767	6	.	.	PUNCT
ftr-443	768	1	final	final	ADJ
ftr-443	768	2	regulations	regulation	NOUN
ftr-443	768	3	under	under	ADP
ftr-443	768	4	the	the	DET
ftr-443	768	5	qualified	qualified	ADJ
ftr-443	768	6	nonrecourse	nonrecourse	NOUN
ftr-443	768	7	financing	financing	NOUN
ftr-443	768	8	exception	exception	NOUN
ftr-443	768	9	were	be	AUX
ftr-443	768	10	recently	recently	ADV
ftr-443	768	11	issued	issue	VERB
ftr-443	768	12	.	.	PUNCT
ftr-443	769	1	see	see	VERB
ftr-443	769	2	t.d	t.d	PROPN
ftr-443	769	3	.	.	PROPN
ftr-443	769	4	8777	8777	NUM
ftr-443	769	5	,	,	PUNCT
ftr-443	769	6	63	63	NUM
ftr-443	769	7	fed	feed	VERB
ftr-443	769	8	.	.	PUNCT
ftr-443	770	1	reg	reg	PROPN
ftr-443	770	2	.	.	PROPN
ftr-443	771	1	41,420	41,420	NUM
ftr-443	771	2	(	(	PUNCT
ftr-443	771	3	1998	1998	NUM
ftr-443	771	4	)	)	PUNCT
ftr-443	771	5	.	.	PUNCT
ftr-443	772	1	114	114	NUM
ftr-443	772	2	.	.	PUNCT
ftr-443	773	1	see	see	VERB
ftr-443	773	2	temp	temp	NOUN
ftr-443	773	3	.	.	PUNCT
ftr-443	774	1	regs	regs	PROPN
ftr-443	774	2	.	.	PUNCT
ftr-443	775	1	§	§	PROPN
ftr-443	775	2	1.469	1.469	NUM
ftr-443	775	3	-	-	SYM
ftr-443	775	4	5(a)(1	5(a)(1	NUM
ftr-443	775	5	)	)	PUNCT
ftr-443	775	6	.	.	PUNCT
ftr-443	776	1	115	115	NUM
ftr-443	776	2	.	.	PUNCT
ftr-443	777	1	see	see	VERB
ftr-443	777	2	temp	temp	NOUN
ftr-443	777	3	.	.	PUNCT
ftr-443	778	1	regs	regs	PROPN
ftr-443	778	2	.	.	PUNCT
ftr-443	779	1	§	§	PROPN
ftr-443	779	2	1.469	1.469	NUM
ftr-443	779	3	-	-	SYM
ftr-443	779	4	5(a)(5	5(a)(5	NUM
ftr-443	779	5	)	)	PUNCT
ftr-443	779	6	.	.	PUNCT
ftr-443	780	1	116	116	X
ftr-443	780	2	.	.	PUNCT
ftr-443	781	1	see	see	VERB
ftr-443	781	2	temp	temp	NOUN
ftr-443	781	3	.	.	PUNCT
ftr-443	782	1	regs	regs	PROPN
ftr-443	782	2	.	.	PUNCT
ftr-443	783	1	§	§	PROPN
ftr-443	783	2	1.469	1.469	NUM
ftr-443	783	3	-	-	SYM
ftr-443	783	4	5(a)(6	5(a)(6	NUM
ftr-443	783	5	)	)	PUNCT
ftr-443	783	6	.	.	PUNCT
ftr-443	784	1	117	117	NUM
ftr-443	784	2	.	.	PUNCT
ftr-443	785	1	see	see	VERB
ftr-443	785	2	temp	temp	NOUN
ftr-443	785	3	.	.	PUNCT
ftr-443	786	1	regs	regs	PROPN
ftr-443	786	2	.	.	PUNCT
ftr-443	787	1	§	§	PROPN
ftr-443	787	2	§	§	PROPN
ftr-443	787	3	1.469	1.469	NUM
ftr-443	787	4	-	-	SYM
ftr-443	787	5	5(a)(2	5(a)(2	NUM
ftr-443	787	6	)	)	PUNCT
ftr-443	787	7	,	,	PUNCT
ftr-443	787	8	(	(	PUNCT
ftr-443	787	9	4	4	NUM
ftr-443	787	10	)	)	PUNCT
ftr-443	787	11	.	.	PUNCT
ftr-443	788	1	118	118	NUM
ftr-443	788	2	.	.	PUNCT
ftr-443	789	1	if	if	SCONJ
ftr-443	789	2	an	an	DET
ftr-443	789	3	llc	llc	PROPN
ftr-443	789	4	member	member	NOUN
ftr-443	789	5	is	be	AUX
ftr-443	789	6	considered	consider	VERB
ftr-443	789	7	a	a	DET
ftr-443	789	8	limited	limited	ADJ
ftr-443	789	9	partner	partner	NOUN
ftr-443	789	10	,	,	PUNCT
ftr-443	789	11	the	the	DET
ftr-443	789	12	member	member	NOUN
ftr-443	789	13	is	be	AUX
ftr-443	789	14	also	also	ADV
ftr-443	789	15	prevented	prevent	VERB
ftr-443	789	16	from	from	ADP
ftr-443	789	17	qualifying	qualify	VERB
ftr-443	789	18	under	under	ADP
ftr-443	789	19	the	the	DET
ftr-443	789	20	"	"	PUNCT
ftr-443	789	21	active	active	ADJ
ftr-443	789	22	participation	participation	NOUN
ftr-443	789	23	"	"	PUNCT
ftr-443	789	24	exception	exception	NOUN
ftr-443	789	25	for	for	ADP
ftr-443	789	26	certain	certain	ADJ
ftr-443	789	27	rental	rental	ADJ
ftr-443	789	28	real	real	ADJ
ftr-443	789	29	estate	estate	NOUN
ftr-443	789	30	activity	activity	NOUN
ftr-443	789	31	under	under	ADP
ftr-443	789	32	§	§	PROPN
ftr-443	789	33	469(i	469(i	PROPN
ftr-443	789	34	)	)	PUNCT
ftr-443	789	35	.	.	PUNCT
ftr-443	790	1	see	see	VERB
ftr-443	790	2	also	also	ADV
ftr-443	790	3	irc	irc	ADV
ftr-443	790	4	§	§	PROPN
ftr-443	790	5	4	4	NUM
ftr-443	790	6	69(c)(7	69(c)(7	NUM
ftr-443	790	7	)	)	PUNCT
ftr-443	790	8	;	;	PUNCT
ftr-443	791	1	prop	prop	NOUN
ftr-443	791	2	.	.	PUNCT
ftr-443	791	3	regs	regs	PROPN
ftr-443	791	4	.	.	PUNCT
ftr-443	792	1	§	§	PROPN
ftr-443	792	2	1.469	1.469	NUM
ftr-443	792	3	-	-	SYM
ftr-443	792	4	9(f)(1	9(f)(1	NUM
ftr-443	792	5	)	)	PUNCT
ftr-443	792	6	.	.	PUNCT
ftr-443	793	1	perhaps	perhaps	ADV
ftr-443	793	2	,	,	PUNCT
ftr-443	793	3	the	the	DET
ftr-443	793	4	use	use	NOUN
ftr-443	793	5	of	of	ADP
ftr-443	793	6	a	a	DET
ftr-443	793	7	general	general	ADJ
ftr-443	793	8	partnership	partnership	NOUN
ftr-443	793	9	to	to	PART
ftr-443	793	10	directly	directly	ADV
ftr-443	793	11	engage	engage	VERB
ftr-443	793	12	in	in	ADP
ftr-443	793	13	the	the	DET
ftr-443	793	14	activity	activity	NOUN
ftr-443	793	15	,	,	PUNCT
ftr-443	793	16	which	which	PRON
ftr-443	793	17	is	be	AUX
ftr-443	793	18	owned	own	VERB
ftr-443	793	19	by	by	ADP
ftr-443	793	20	individuals	individual	NOUN
ftr-443	793	21	whose	whose	DET
ftr-443	793	22	interests	interest	NOUN
ftr-443	793	23	as	as	ADP
ftr-443	793	24	general	general	ADJ
ftr-443	793	25	partners	partner	NOUN
ftr-443	793	26	are	be	AUX
ftr-443	793	27	held	hold	VERB
ftr-443	793	28	in	in	ADP
ftr-443	793	29	single	single	ADJ
ftr-443	793	30	member	member	NOUN
ftr-443	793	31	llcs	llcs	NOUN
ftr-443	793	32	,	,	PUNCT
ftr-443	793	33	may	may	AUX
ftr-443	793	34	avoid	avoid	VERB
ftr-443	793	35	limited	limited	ADJ
ftr-443	793	36	partner	partner	NOUN
ftr-443	793	37	status	status	NOUN
ftr-443	793	38	.	.	PUNCT
ftr-443	794	1	119	119	NUM
ftr-443	794	2	.	.	PUNCT
ftr-443	794	3	see	see	VERB
ftr-443	794	4	irc	irc	PROPN
ftr-443	794	5	§	§	PROPN
ftr-443	794	6	§	§	PROPN
ftr-443	794	7	1368(b	1368(b	NOUN
ftr-443	794	8	)	)	PUNCT
ftr-443	794	9	,	,	PUNCT
ftr-443	794	10	(	(	PUNCT
ftr-443	794	11	d	d	NOUN
ftr-443	794	12	)	)	PUNCT
ftr-443	794	13	.	.	PUNCT
ftr-443	795	1	120	120	NUM
ftr-443	795	2	.	.	PUNCT
ftr-443	795	3	see	see	VERB
ftr-443	795	4	irc	irc	PROPN
ftr-443	795	5	§	§	PROPN
ftr-443	795	6	§	§	PROPN
ftr-443	795	7	1368(c)(1	1368(c)(1	NUM
ftr-443	795	8	)	)	PUNCT
ftr-443	795	9	,	,	PUNCT
ftr-443	795	10	(	(	PUNCT
ftr-443	795	11	e	e	NOUN
ftr-443	795	12	)	)	PUNCT
ftr-443	795	13	.	.	PUNCT
ftr-443	796	1	19991	19991	NUM
ftr-443	796	2	florida	florida	PROPN
ftr-443	796	3	tax	tax	PROPN
ftr-443	796	4	review	review	NOUN
ftr-443	796	5	aaa	aaa	NOUN
ftr-443	796	6	,	,	PUNCT
ftr-443	796	7	even	even	ADV
ftr-443	796	8	if	if	SCONJ
ftr-443	796	9	there	there	PRON
ftr-443	796	10	is	be	VERB
ftr-443	796	11	a	a	DET
ftr-443	796	12	net	net	ADJ
ftr-443	796	13	negative	negative	ADJ
ftr-443	796	14	adjustment	adjustment	NOUN
ftr-443	796	15	to	to	ADP
ftr-443	796	16	the	the	DET
ftr-443	796	17	account	account	NOUN
ftr-443	796	18	for	for	ADP
ftr-443	796	19	the	the	DET
ftr-443	796	20	year	year	NOUN
ftr-443	796	21	of	of	ADP
ftr-443	796	22	distribution	distribution	NOUN
ftr-443	796	23	.	.	PUNCT
ftr-443	797	1	'2	'2	PROPN
ftr-443	797	2	'	'	PART
ftr-443	797	3	distributions	distribution	NOUN
ftr-443	797	4	from	from	ADP
ftr-443	797	5	aaa	aaa	NOUN
ftr-443	797	6	are	be	AUX
ftr-443	797	7	subtracted	subtract	VERB
ftr-443	797	8	from	from	ADP
ftr-443	797	9	stock	stock	NOUN
ftr-443	797	10	basis,'2	basis,'2	NOUN
ftr-443	797	11	and	and	CCONJ
ftr-443	797	12	are	be	AUX
ftr-443	797	13	gain	gain	NOUN
ftr-443	797	14	to	to	ADP
ftr-443	797	15	the	the	DET
ftr-443	797	16	extent	extent	NOUN
ftr-443	797	17	they	they	PRON
ftr-443	797	18	exceed	exceed	VERB
ftr-443	797	19	the	the	DET
ftr-443	797	20	shareholder	shareholder	NOUN
ftr-443	797	21	's	's	PART
ftr-443	797	22	stock	stock	NOUN
ftr-443	797	23	basis	basis	NOUN
ftr-443	797	24	.	.	PUNCT
ftr-443	798	1	distributions	distribution	NOUN
ftr-443	798	2	in	in	ADP
ftr-443	798	3	excess	excess	NOUN
ftr-443	798	4	of	of	ADP
ftr-443	798	5	aaa	aaa	NOUN
ftr-443	798	6	are	be	AUX
ftr-443	798	7	taxed	tax	VERB
ftr-443	798	8	as	as	ADP
ftr-443	798	9	dividends	dividend	NOUN
ftr-443	798	10	to	to	ADP
ftr-443	798	11	the	the	DET
ftr-443	798	12	extent	extent	NOUN
ftr-443	798	13	of	of	ADP
ftr-443	798	14	c	c	NOUN
ftr-443	798	15	earnings	earning	NOUN
ftr-443	798	16	and	and	CCONJ
ftr-443	798	17	profits	profit	NOUN
ftr-443	798	18	.	.	PUNCT
ftr-443	799	1	"z	"z	VERB
ftr-443	799	2	distributions	distribution	NOUN
ftr-443	799	3	in	in	ADP
ftr-443	799	4	excess	excess	NOUN
ftr-443	799	5	of	of	ADP
ftr-443	799	6	both	both	DET
ftr-443	799	7	aaa	aaa	NOUN
ftr-443	799	8	and	and	CCONJ
ftr-443	799	9	c	c	NOUN
ftr-443	799	10	earnings	earning	NOUN
ftr-443	799	11	and	and	CCONJ
ftr-443	799	12	profits	profit	NOUN
ftr-443	799	13	are	be	AUX
ftr-443	799	14	gain	gain	NOUN
ftr-443	799	15	on	on	ADP
ftr-443	799	16	sales	sale	NOUN
ftr-443	799	17	of	of	ADP
ftr-443	799	18	property	property	NOUN
ftr-443	799	19	.	.	PUNCT
ftr-443	800	1	if	if	SCONJ
ftr-443	800	2	the	the	DET
ftr-443	800	3	corporation	corporation	NOUN
ftr-443	800	4	distributes	distribute	VERB
ftr-443	800	5	appreciated	appreciated	ADJ
ftr-443	800	6	property	property	NOUN
ftr-443	800	7	,	,	PUNCT
ftr-443	800	8	it	it	PRON
ftr-443	800	9	recognizes	recognize	VERB
ftr-443	800	10	gain	gain	NOUN
ftr-443	800	11	as	as	SCONJ
ftr-443	800	12	though	though	SCONJ
ftr-443	800	13	it	it	PRON
ftr-443	800	14	had	have	AUX
ftr-443	800	15	sold	sell	VERB
ftr-443	800	16	the	the	DET
ftr-443	800	17	property	property	NOUN
ftr-443	800	18	to	to	ADP
ftr-443	800	19	the	the	DET
ftr-443	800	20	distributees	distributee	NOUN
ftr-443	800	21	at	at	ADP
ftr-443	800	22	fair	fair	ADJ
ftr-443	800	23	market	market	NOUN
ftr-443	800	24	value	value	NOUN
ftr-443	800	25	,	,	PUNCT
ftr-443	800	26	and	and	CCONJ
ftr-443	800	27	this	this	DET
ftr-443	800	28	gain	gain	NOUN
ftr-443	800	29	is	be	AUX
ftr-443	800	30	allocated	allocate	VERB
ftr-443	800	31	among	among	ADP
ftr-443	800	32	the	the	DET
ftr-443	800	33	shareholders	shareholder	NOUN
ftr-443	800	34	as	as	ADP
ftr-443	800	35	part	part	NOUN
ftr-443	800	36	of	of	ADP
ftr-443	800	37	the	the	DET
ftr-443	800	38	corporation	corporation	NOUN
ftr-443	800	39	's	's	PART
ftr-443	800	40	taxable	taxable	ADJ
ftr-443	800	41	income	income	NOUN
ftr-443	800	42	for	for	ADP
ftr-443	800	43	the	the	DET
ftr-443	800	44	year	year	NOUN
ftr-443	800	45	.	.	PUNCT
ftr-443	801	1	24	24	NUM
ftr-443	801	2	if	if	SCONJ
ftr-443	801	3	the	the	DET
ftr-443	801	4	distribution	distribution	NOUN
ftr-443	801	5	is	be	AUX
ftr-443	801	6	of	of	ADP
ftr-443	801	7	property	property	NOUN
ftr-443	801	8	held	hold	VERB
ftr-443	801	9	by	by	ADP
ftr-443	801	10	the	the	DET
ftr-443	801	11	corporation	corporation	NOUN
ftr-443	801	12	when	when	SCONJ
ftr-443	801	13	it	it	PRON
ftr-443	801	14	converted	convert	VERB
ftr-443	801	15	from	from	ADP
ftr-443	801	16	c	c	PROPN
ftr-443	801	17	to	to	ADP
ftr-443	801	18	s	s	PRON
ftr-443	801	19	status	status	NOUN
ftr-443	801	20	and	and	CCONJ
ftr-443	801	21	occurs	occur	VERB
ftr-443	801	22	within	within	ADP
ftr-443	801	23	10	10	NUM
ftr-443	801	24	years	year	NOUN
ftr-443	801	25	after	after	ADP
ftr-443	801	26	the	the	DET
ftr-443	801	27	conversion	conversion	NOUN
ftr-443	801	28	,	,	PUNCT
ftr-443	801	29	any	any	DET
ftr-443	801	30	built	build	VERB
ftr-443	801	31	-	-	PUNCT
ftr-443	801	32	in	in	ADP
ftr-443	801	33	gain	gain	NOUN
ftr-443	801	34	as	as	ADP
ftr-443	801	35	of	of	ADP
ftr-443	801	36	the	the	DET
ftr-443	801	37	date	date	NOUN
ftr-443	801	38	of	of	ADP
ftr-443	801	39	conversion	conversion	NOUN
ftr-443	801	40	is	be	AUX
ftr-443	801	41	subject	subject	ADJ
ftr-443	801	42	to	to	ADP
ftr-443	801	43	corporate	corporate	ADJ
ftr-443	801	44	tax	tax	NOUN
ftr-443	801	45	under	under	ADP
ftr-443	801	46	section	section	NOUN
ftr-443	801	47	1374	1374	NUM
ftr-443	801	48	.	.	PUNCT
ftr-443	802	1	a	a	DET
ftr-443	802	2	corporation	corporation	NOUN
ftr-443	802	3	generally	generally	ADV
ftr-443	802	4	recognizes	recognize	VERB
ftr-443	802	5	no	no	DET
ftr-443	802	6	loss	loss	NOUN
ftr-443	802	7	on	on	ADP
ftr-443	802	8	distributing	distribute	VERB
ftr-443	802	9	property	property	NOUN
ftr-443	802	10	to	to	PART
ftr-443	802	11	shareholders,"z	shareholders,"z	VERB
ftr-443	802	12	and	and	CCONJ
ftr-443	802	13	this	this	DET
ftr-443	802	14	rule	rule	NOUN
ftr-443	802	15	presumably	presumably	ADV
ftr-443	802	16	trumps	trump	VERB
ftr-443	802	17	section	section	NOUN
ftr-443	802	18	1374	1374	NUM
ftr-443	802	19	to	to	ADP
ftr-443	802	20	disallow	disallow	VERB
ftr-443	802	21	recognition	recognition	NOUN
ftr-443	802	22	of	of	ADP
ftr-443	802	23	built	build	VERB
ftr-443	802	24	-	-	PUNCT
ftr-443	802	25	in	in	ADP
ftr-443	802	26	loss	loss	NOUN
ftr-443	802	27	.	.	PUNCT
ftr-443	802	28	'26	'26	NUM
ftr-443	802	29	in	in	ADP
ftr-443	802	30	all	all	DET
ftr-443	802	31	cases	case	NOUN
ftr-443	802	32	,	,	PUNCT
ftr-443	802	33	the	the	DET
ftr-443	802	34	shareholder	shareholder	NOUN
ftr-443	802	35	-	-	PUNCT
ftr-443	802	36	distributee	distributee	NOUN
ftr-443	802	37	takes	take	VERB
ftr-443	802	38	a	a	DET
ftr-443	802	39	fair	fair	ADJ
ftr-443	802	40	market	market	NOUN
ftr-443	802	41	value	value	NOUN
ftr-443	802	42	basis	basis	NOUN
ftr-443	802	43	for	for	ADP
ftr-443	802	44	the	the	DET
ftr-443	802	45	property	property	NOUN
ftr-443	802	46	.	.	PUNCT
ftr-443	803	1	27	27	NUM
ftr-443	803	2	distributions	distribution	NOUN
ftr-443	803	3	in	in	ADP
ftr-443	803	4	liquidation	liquidation	NOUN
ftr-443	803	5	are	be	AUX
ftr-443	803	6	taxable	taxable	ADJ
ftr-443	803	7	to	to	ADP
ftr-443	803	8	the	the	DET
ftr-443	803	9	corporation	corporation	NOUN
ftr-443	803	10	in	in	ADP
ftr-443	803	11	accordance	accordance	NOUN
ftr-443	803	12	with	with	ADP
ftr-443	803	13	section	section	NOUN
ftr-443	803	14	336	336	NUM
ftr-443	803	15	,	,	PUNCT
ftr-443	803	16	which	which	PRON
ftr-443	803	17	,	,	PUNCT
ftr-443	803	18	in	in	ADP
ftr-443	803	19	the	the	DET
ftr-443	803	20	case	case	NOUN
ftr-443	803	21	of	of	ADP
ftr-443	803	22	a	a	DET
ftr-443	803	23	former	former	ADJ
ftr-443	803	24	c	c	PROPN
ftr-443	803	25	corporation	corporation	NOUN
ftr-443	803	26	,	,	PUNCT
ftr-443	803	27	may	may	AUX
ftr-443	803	28	result	result	VERB
ftr-443	803	29	in	in	ADP
ftr-443	803	30	corporate	corporate	ADJ
ftr-443	803	31	tax	tax	NOUN
ftr-443	803	32	under	under	ADP
ftr-443	803	33	section	section	NOUN
ftr-443	803	34	1374	1374	NUM
ftr-443	803	35	for	for	ADP
ftr-443	803	36	preconversion	preconversion	NOUN
ftr-443	803	37	appreciation	appreciation	NOUN
ftr-443	803	38	in	in	ADP
ftr-443	803	39	the	the	DET
ftr-443	803	40	distributed	distribute	VERB
ftr-443	803	41	assets	asset	NOUN
ftr-443	803	42	.	.	PUNCT
ftr-443	804	1	since	since	SCONJ
ftr-443	804	2	losses	loss	NOUN
ftr-443	804	3	are	be	AUX
ftr-443	804	4	generally	generally	ADV
ftr-443	804	5	permitted	permit	VERB
ftr-443	804	6	to	to	PART
ftr-443	804	7	be	be	AUX
ftr-443	804	8	recognized	recognize	VERB
ftr-443	804	9	in	in	ADP
ftr-443	804	10	a	a	DET
ftr-443	804	11	liquidation	liquidation	NOUN
ftr-443	804	12	,	,	PUNCT
ftr-443	804	13	built	build	VERB
ftr-443	804	14	-	-	PUNCT
ftr-443	804	15	in	in	ADP
ftr-443	804	16	losses	loss	NOUN
ftr-443	804	17	should	should	AUX
ftr-443	804	18	be	be	AUX
ftr-443	804	19	treated	treat	VERB
ftr-443	804	20	as	as	ADP
ftr-443	804	21	recognized	recognize	VERB
ftr-443	804	22	for	for	ADP
ftr-443	804	23	purposes	purpose	NOUN
ftr-443	804	24	of	of	ADP
ftr-443	804	25	section	section	NOUN
ftr-443	804	26	1374	1374	NUM
ftr-443	804	27	.	.	PUNCT
ftr-443	805	1	capital	capital	NOUN
ftr-443	805	2	gain	gain	NOUN
ftr-443	805	3	or	or	CCONJ
ftr-443	805	4	loss	loss	NOUN
ftr-443	805	5	results	result	NOUN
ftr-443	805	6	at	at	ADP
ftr-443	805	7	the	the	DET
ftr-443	805	8	shareholder	shareholder	NOUN
ftr-443	805	9	level	level	NOUN
ftr-443	805	10	,	,	PUNCT
ftr-443	805	11	after	after	ADP
ftr-443	805	12	first	first	ADV
ftr-443	805	13	making	make	VERB
ftr-443	805	14	the	the	DET
ftr-443	805	15	corresponding	corresponding	ADJ
ftr-443	805	16	passthrough	passthrough	NOUN
ftr-443	805	17	adjustments	adjustment	NOUN
ftr-443	805	18	for	for	ADP
ftr-443	805	19	current	current	ADJ
ftr-443	805	20	year	year	NOUN
ftr-443	805	21	's	's	PART
ftr-443	805	22	income	income	NOUN
ftr-443	805	23	or	or	CCONJ
ftr-443	805	24	loss	loss	NOUN
ftr-443	805	25	,	,	PUNCT
ftr-443	805	26	including	include	VERB
ftr-443	805	27	income	income	NOUN
ftr-443	805	28	or	or	CCONJ
ftr-443	805	29	loss	loss	NOUN
ftr-443	805	30	from	from	ADP
ftr-443	805	31	the	the	DET
ftr-443	805	32	liquidating	liquidating	NOUN
ftr-443	805	33	distributions	distribution	NOUN
ftr-443	805	34	.	.	PUNCT
ftr-443	806	1	b.	b.	PROPN
ftr-443	806	2	from	from	ADP
ftr-443	806	3	llcs.-the	llcs.-the	DET
ftr-443	806	4	tax	tax	NOUN
ftr-443	806	5	treatment	treatment	NOUN
ftr-443	806	6	of	of	ADP
ftr-443	806	7	distributions	distribution	NOUN
ftr-443	806	8	to	to	ADP
ftr-443	806	9	llc	llc	PROPN
ftr-443	806	10	members	member	NOUN
ftr-443	806	11	under	under	ADP
ftr-443	806	12	subchapter	subchapter	NOUN
ftr-443	806	13	k	k	PROPN
ftr-443	806	14	is	be	AUX
ftr-443	806	15	generally	generally	ADV
ftr-443	806	16	more	more	ADV
ftr-443	806	17	favorable	favorable	ADJ
ftr-443	806	18	than	than	ADP
ftr-443	806	19	the	the	DET
ftr-443	806	20	results	result	NOUN
ftr-443	806	21	under	under	ADP
ftr-443	806	22	subchapter	subchapter	NOUN
ftr-443	806	23	s	s	NOUN
ftr-443	806	24	,	,	PUNCT
ftr-443	806	25	especially	especially	ADV
ftr-443	806	26	with	with	ADP
ftr-443	806	27	respect	respect	NOUN
ftr-443	806	28	to	to	ADP
ftr-443	806	29	distributions	distribution	NOUN
ftr-443	806	30	of	of	ADP
ftr-443	806	31	appreciated	appreciated	ADJ
ftr-443	806	32	property	property	NOUN
ftr-443	806	33	.	.	PUNCT
ftr-443	807	1	unless	unless	SCONJ
ftr-443	807	2	the	the	DET
ftr-443	807	3	llc	llc	PROPN
ftr-443	807	4	makes	make	VERB
ftr-443	807	5	a	a	DET
ftr-443	807	6	disproportionate	disproportionate	ADJ
ftr-443	807	7	distribution	distribution	NOUN
ftr-443	807	8	of	of	ADP
ftr-443	807	9	section	section	NOUN
ftr-443	807	10	751	751	NUM
ftr-443	807	11	property	property	NOUN
ftr-443	807	12	(	(	PUNCT
ftr-443	807	13	unrealized	unrealized	ADJ
ftr-443	807	14	receivables	receivables	NOUN
ftr-443	807	15	and	and	CCONJ
ftr-443	807	16	substantially	substantially	ADV
ftr-443	807	17	appreciated	appreciate	VERB
ftr-443	807	18	inventory	inventory	NOUN
ftr-443	807	19	)	)	PUNCT
ftr-443	807	20	,	,	PUNCT
ftr-443	807	21	it	it	PRON
ftr-443	807	22	recognizes	recognize	VERB
ftr-443	807	23	no	no	DET
ftr-443	807	24	gain	gain	NOUN
ftr-443	807	25	or	or	CCONJ
ftr-443	807	26	loss	loss	NOUN
ftr-443	807	27	on	on	ADP
ftr-443	807	28	distributing	distribute	VERB
ftr-443	807	29	property	property	NOUN
ftr-443	807	30	to	to	ADP
ftr-443	807	31	its	its	PRON
ftr-443	807	32	members	member	NOUN
ftr-443	807	33	.	.	PUNCT
ftr-443	808	1	28	28	NUM
ftr-443	809	1	a	a	DET
ftr-443	809	2	disproportionate	disproportionate	ADJ
ftr-443	809	3	distribution	distribution	NOUN
ftr-443	809	4	occurs	occur	VERB
ftr-443	809	5	if	if	SCONJ
ftr-443	809	6	the	the	DET
ftr-443	809	7	distributee	distributee	NOUN
ftr-443	809	8	's	's	PART
ftr-443	809	9	interest	interest	NOUN
ftr-443	809	10	in	in	ADP
ftr-443	809	11	section	section	NOUN
ftr-443	809	12	751	751	NUM
ftr-443	809	13	property	property	NOUN
ftr-443	809	14	increases	increase	NOUN
ftr-443	809	15	or	or	CCONJ
ftr-443	809	16	decreases	decrease	NOUN
ftr-443	809	17	as	as	ADP
ftr-443	809	18	a	a	DET
ftr-443	809	19	result	result	NOUN
ftr-443	809	20	of	of	ADP
ftr-443	809	21	the	the	DET
ftr-443	809	22	distribution	distribution	NOUN
ftr-443	809	23	.	.	PUNCT
ftr-443	810	1	in	in	ADP
ftr-443	810	2	the	the	DET
ftr-443	810	3	event	event	NOUN
ftr-443	810	4	of	of	ADP
ftr-443	810	5	121	121	NUM
ftr-443	810	6	.	.	PUNCT
ftr-443	811	1	see	see	VERB
ftr-443	811	2	irc	irc	ADV
ftr-443	811	3	§	§	PROPN
ftr-443	811	4	1368(e)(1)(c	1368(e)(1)(c	NUM
ftr-443	811	5	)	)	PUNCT
ftr-443	811	6	(	(	PUNCT
ftr-443	811	7	applicable	applicable	ADJ
ftr-443	811	8	for	for	ADP
ftr-443	811	9	taxable	taxable	ADJ
ftr-443	811	10	years	year	NOUN
ftr-443	811	11	beginning	begin	VERB
ftr-443	811	12	after	after	ADP
ftr-443	811	13	1996	1996	NUM
ftr-443	811	14	)	)	PUNCT
ftr-443	811	15	.	.	PUNCT
ftr-443	812	1	122	122	X
ftr-443	812	2	.	.	PUNCT
ftr-443	812	3	see	see	VERB
ftr-443	812	4	irc	irc	PROPN
ftr-443	812	5	§	§	PROPN
ftr-443	812	6	1367(a)(2)(a	1367(a)(2)(a	NUM
ftr-443	812	7	)	)	PUNCT
ftr-443	812	8	.	.	PUNCT
ftr-443	813	1	123	123	NUM
ftr-443	813	2	.	.	PUNCT
ftr-443	814	1	see	see	VERB
ftr-443	814	2	irc	irc	ADV
ftr-443	814	3	§	§	NOUN
ftr-443	814	4	1368(c)(2	1368(c)(2	NUM
ftr-443	814	5	)	)	PUNCT
ftr-443	814	6	.	.	PUNCT
ftr-443	815	1	124	124	NUM
ftr-443	815	2	.	.	PUNCT
ftr-443	816	1	see	see	VERB
ftr-443	816	2	irc	irc	PROPN
ftr-443	816	3	§	§	PROPN
ftr-443	816	4	§	§	PROPN
ftr-443	816	5	311(b	311(b	PROPN
ftr-443	816	6	)	)	PUNCT
ftr-443	816	7	,	,	PUNCT
ftr-443	816	8	1371(a	1371(a	NUM
ftr-443	816	9	)	)	PUNCT
ftr-443	816	10	.	.	PUNCT
ftr-443	817	1	125	125	NUM
ftr-443	817	2	.	.	PUNCT
ftr-443	817	3	see	see	VERB
ftr-443	817	4	irc	irc	PROPN
ftr-443	817	5	§	§	PROPN
ftr-443	817	6	311(a	311(a	PROPN
ftr-443	817	7	)	)	PUNCT
ftr-443	817	8	.	.	PUNCT
ftr-443	818	1	126	126	X
ftr-443	818	2	.	.	PUNCT
ftr-443	819	1	see	see	VERB
ftr-443	819	2	irc	irc	PROPN
ftr-443	819	3	§	§	PROPN
ftr-443	819	4	1374(d)(4	1374(d)(4	NUM
ftr-443	819	5	)	)	PUNCT
ftr-443	819	6	(	(	PUNCT
ftr-443	819	7	defining	define	VERB
ftr-443	819	8	"	"	PUNCT
ftr-443	819	9	recognized	recognize	VERB
ftr-443	819	10	built	build	VERB
ftr-443	819	11	-	-	PUNCT
ftr-443	819	12	in	in	ADP
ftr-443	819	13	loss	loss	NOUN
ftr-443	819	14	"	"	PUNCT
ftr-443	819	15	)	)	PUNCT
ftr-443	819	16	.	.	PUNCT
ftr-443	820	1	127	127	NUM
ftr-443	820	2	.	.	PUNCT
ftr-443	820	3	see	see	VERB
ftr-443	820	4	irc	irc	PROPN
ftr-443	820	5	§	§	PROPN
ftr-443	820	6	301(d	301(d	PROPN
ftr-443	820	7	)	)	PUNCT
ftr-443	820	8	.	.	PUNCT
ftr-443	821	1	128	128	X
ftr-443	821	2	.	.	PUNCT
ftr-443	822	1	see	see	VERB
ftr-443	822	2	irc	irc	PROPN
ftr-443	822	3	§	§	PROPN
ftr-443	822	4	731(b	731(b	PROPN
ftr-443	822	5	)	)	PUNCT
ftr-443	822	6	.	.	PUNCT
ftr-443	823	1	[	[	X
ftr-443	823	2	vol	vol	NOUN
ftr-443	823	3	4:3	4:3	NUM
ftr-443	823	4	benefits	benefit	NOUN
ftr-443	823	5	and	and	CCONJ
ftr-443	823	6	burdens	burden	NOUN
ftr-443	823	7	of	of	ADP
ftr-443	823	8	subchapter	subchapter	NOUN
ftr-443	823	9	s	s	PART
ftr-443	823	10	such	such	DET
ftr-443	823	11	a	a	DET
ftr-443	823	12	distribution	distribution	NOUN
ftr-443	823	13	,	,	PUNCT
ftr-443	823	14	section	section	NOUN
ftr-443	823	15	751	751	NUM
ftr-443	823	16	property	property	NOUN
ftr-443	823	17	equal	equal	ADJ
ftr-443	823	18	in	in	ADP
ftr-443	823	19	value	value	NOUN
ftr-443	823	20	to	to	ADP
ftr-443	823	21	the	the	DET
ftr-443	823	22	amount	amount	NOUN
ftr-443	823	23	of	of	ADP
ftr-443	823	24	the	the	DET
ftr-443	823	25	increase	increase	NOUN
ftr-443	823	26	is	be	AUX
ftr-443	823	27	deemed	deem	VERB
ftr-443	823	28	sold	sell	VERB
ftr-443	823	29	between	between	ADP
ftr-443	823	30	the	the	DET
ftr-443	823	31	member	member	NOUN
ftr-443	823	32	and	and	CCONJ
ftr-443	823	33	the	the	DET
ftr-443	823	34	llc	llc	PROPN
ftr-443	823	35	.	.	PUNCT
ftr-443	824	1	this	this	PRON
ftr-443	824	2	stands	stand	VERB
ftr-443	824	3	in	in	ADP
ftr-443	824	4	marked	marked	ADJ
ftr-443	824	5	contrast	contrast	NOUN
ftr-443	824	6	to	to	ADP
ftr-443	824	7	the	the	DET
ftr-443	824	8	results	result	NOUN
ftr-443	824	9	under	under	ADP
ftr-443	824	10	subchapter	subchapter	NOUN
ftr-443	824	11	s	s	PROPN
ftr-443	824	12	,	,	PUNCT
ftr-443	824	13	where	where	SCONJ
ftr-443	824	14	any	any	DET
ftr-443	824	15	distribution	distribution	NOUN
ftr-443	824	16	of	of	ADP
ftr-443	824	17	appreciated	appreciated	ADJ
ftr-443	824	18	property	property	NOUN
ftr-443	824	19	is	be	AUX
ftr-443	824	20	taxable	taxable	ADJ
ftr-443	824	21	.	.	PUNCT
ftr-443	825	1	generally	generally	ADV
ftr-443	825	2	,	,	PUNCT
ftr-443	825	3	no	no	DET
ftr-443	825	4	gain	gain	NOUN
ftr-443	825	5	or	or	CCONJ
ftr-443	825	6	loss	loss	NOUN
ftr-443	825	7	is	be	AUX
ftr-443	825	8	recognized	recognize	VERB
ftr-443	825	9	by	by	ADP
ftr-443	825	10	a	a	DET
ftr-443	825	11	distributee	distributee	NOUN
ftr-443	825	12	llc	llc	NOUN
ftr-443	825	13	member	member	NOUN
ftr-443	825	14	unless	unless	SCONJ
ftr-443	825	15	distributions	distribution	NOUN
ftr-443	825	16	of	of	ADP
ftr-443	825	17	money	money	NOUN
ftr-443	825	18	or	or	CCONJ
ftr-443	825	19	money	money	NOUN
ftr-443	825	20	equivalents	equivalent	NOUN
ftr-443	825	21	exceed	exceed	VERB
ftr-443	825	22	the	the	DET
ftr-443	825	23	basis	basis	NOUN
ftr-443	825	24	of	of	ADP
ftr-443	825	25	the	the	DET
ftr-443	825	26	member	member	NOUN
ftr-443	825	27	's	's	PART
ftr-443	825	28	interest	interest	NOUN
ftr-443	825	29	.	.	PUNCT
ftr-443	826	1	'	'	PUNCT
ftr-443	826	2	9	9	NUM
ftr-443	826	3	marketable	marketable	ADJ
ftr-443	826	4	securities	security	NOUN
ftr-443	826	5	are	be	AUX
ftr-443	826	6	treated	treat	VERB
ftr-443	826	7	as	as	ADP
ftr-443	826	8	money	money	NOUN
ftr-443	826	9	to	to	ADP
ftr-443	826	10	the	the	DET
ftr-443	826	11	extent	extent	NOUN
ftr-443	826	12	of	of	ADP
ftr-443	826	13	their	their	PRON
ftr-443	826	14	fair	fair	ADJ
ftr-443	826	15	market	market	NOUN
ftr-443	826	16	value	value	NOUN
ftr-443	826	17	.	.	PUNCT
ftr-443	827	1	130	130	NUM
ftr-443	827	2	the	the	DET
ftr-443	827	3	distributee	distributee	NOUN
ftr-443	827	4	succeeds	succeed	VERB
ftr-443	827	5	to	to	ADP
ftr-443	827	6	the	the	DET
ftr-443	827	7	llc	llc	NOUN
ftr-443	827	8	's	's	PART
ftr-443	827	9	adjusted	adjusted	ADJ
ftr-443	827	10	basis	basis	NOUN
ftr-443	827	11	for	for	ADP
ftr-443	827	12	the	the	DET
ftr-443	827	13	property	property	NOUN
ftr-443	827	14	,	,	PUNCT
ftr-443	827	15	except	except	SCONJ
ftr-443	827	16	that	that	SCONJ
ftr-443	827	17	this	this	DET
ftr-443	827	18	basis	basis	NOUN
ftr-443	827	19	can	can	AUX
ftr-443	827	20	not	not	PART
ftr-443	827	21	exceed	exceed	VERB
ftr-443	827	22	the	the	DET
ftr-443	827	23	basis	basis	NOUN
ftr-443	827	24	of	of	ADP
ftr-443	827	25	the	the	DET
ftr-443	827	26	member	member	NOUN
ftr-443	827	27	's	's	PART
ftr-443	827	28	interest	interest	NOUN
ftr-443	827	29	immediately	immediately	ADV
ftr-443	827	30	before	before	ADP
ftr-443	827	31	the	the	DET
ftr-443	827	32	distribution	distribution	NOUN
ftr-443	827	33	.	.	PUNCT
ftr-443	827	34	'	'	PUNCT
ftr-443	828	1	3	3	X
ftr-443	828	2	'	'	PUNCT
ftr-443	828	3	although	although	SCONJ
ftr-443	828	4	the	the	DET
ftr-443	828	5	character	character	NOUN
ftr-443	828	6	of	of	ADP
ftr-443	828	7	distributed	distribute	VERB
ftr-443	828	8	property	property	NOUN
ftr-443	828	9	in	in	ADP
ftr-443	828	10	the	the	DET
ftr-443	828	11	distributee	distributee	NOUN
ftr-443	828	12	's	's	PART
ftr-443	828	13	hands	hand	NOUN
ftr-443	828	14	normally	normally	ADV
ftr-443	828	15	depends	depend	VERB
ftr-443	828	16	on	on	ADP
ftr-443	828	17	the	the	DET
ftr-443	828	18	distributee	distributee	NOUN
ftr-443	828	19	's	's	PART
ftr-443	828	20	use	use	NOUN
ftr-443	828	21	or	or	CCONJ
ftr-443	828	22	purpose	purpose	NOUN
ftr-443	828	23	in	in	ADP
ftr-443	828	24	holding	hold	VERB
ftr-443	828	25	the	the	DET
ftr-443	828	26	property	property	NOUN
ftr-443	828	27	,	,	PUNCT
ftr-443	828	28	gain	gain	NOUN
ftr-443	828	29	or	or	CCONJ
ftr-443	828	30	loss	loss	NOUN
ftr-443	828	31	on	on	ADP
ftr-443	828	32	the	the	DET
ftr-443	828	33	distributee	distributee	NOUN
ftr-443	828	34	's	's	PART
ftr-443	828	35	sale	sale	NOUN
ftr-443	828	36	or	or	CCONJ
ftr-443	828	37	exchange	exchange	NOUN
ftr-443	828	38	of	of	ADP
ftr-443	828	39	distributed	distribute	VERB
ftr-443	828	40	unrealized	unrealized	ADJ
ftr-443	828	41	receivables	receivables	NOUN
ftr-443	828	42	or	or	CCONJ
ftr-443	828	43	inventory	inventory	NOUN
ftr-443	828	44	is	be	AUX
ftr-443	828	45	ordinary	ordinary	ADJ
ftr-443	828	46	,	,	PUNCT
ftr-443	828	47	regardless	regardless	ADV
ftr-443	828	48	of	of	ADP
ftr-443	828	49	the	the	DET
ftr-443	828	50	distributee	distributee	NOUN
ftr-443	828	51	's	's	PART
ftr-443	828	52	use	use	NOUN
ftr-443	828	53	or	or	CCONJ
ftr-443	828	54	purpose	purpose	NOUN
ftr-443	828	55	.	.	PUNCT
ftr-443	828	56	'	'	PUNCT
ftr-443	829	1	32	32	NUM
ftr-443	829	2	most	most	ADJ
ftr-443	829	3	of	of	ADP
ftr-443	829	4	the	the	DET
ftr-443	829	5	foregoing	forego	VERB
ftr-443	829	6	rules	rule	NOUN
ftr-443	829	7	,	,	PUNCT
ftr-443	829	8	and	and	CCONJ
ftr-443	829	9	a	a	DET
ftr-443	829	10	few	few	ADJ
ftr-443	829	11	others	other	NOUN
ftr-443	829	12	,	,	PUNCT
ftr-443	829	13	apply	apply	VERB
ftr-443	829	14	to	to	ADP
ftr-443	829	15	distributions	distribution	NOUN
ftr-443	829	16	in	in	ADP
ftr-443	829	17	liquidation	liquidation	NOUN
ftr-443	829	18	of	of	ADP
ftr-443	829	19	the	the	DET
ftr-443	829	20	llc	llc	NOUN
ftr-443	829	21	or	or	CCONJ
ftr-443	829	22	of	of	ADP
ftr-443	829	23	the	the	DET
ftr-443	829	24	member	member	NOUN
ftr-443	829	25	's	's	PART
ftr-443	829	26	interest	interest	NOUN
ftr-443	829	27	.	.	PUNCT
ftr-443	830	1	llc	llc	PROPN
ftr-443	830	2	memberdistributees	memberdistributees	PROPN
ftr-443	830	3	generally	generally	ADV
ftr-443	830	4	recognize	recognize	VERB
ftr-443	830	5	no	no	DET
ftr-443	830	6	gain	gain	NOUN
ftr-443	830	7	or	or	CCONJ
ftr-443	830	8	loss	loss	NOUN
ftr-443	830	9	on	on	ADP
ftr-443	830	10	liquidation	liquidation	NOUN
ftr-443	830	11	.	.	PUNCT
ftr-443	831	1	however	however	ADV
ftr-443	831	2	,	,	PUNCT
ftr-443	831	3	cash	cash	NOUN
ftr-443	831	4	distributions	distribution	NOUN
ftr-443	831	5	in	in	ADP
ftr-443	831	6	excess	excess	NOUN
ftr-443	831	7	of	of	ADP
ftr-443	831	8	the	the	DET
ftr-443	831	9	basis	basis	NOUN
ftr-443	831	10	of	of	ADP
ftr-443	831	11	the	the	DET
ftr-443	831	12	member	member	NOUN
ftr-443	831	13	's	's	PART
ftr-443	831	14	interest	interest	NOUN
ftr-443	831	15	are	be	AUX
ftr-443	831	16	taxable	taxable	ADJ
ftr-443	831	17	,	,	PUNCT
ftr-443	831	18	and	and	CCONJ
ftr-443	831	19	relief	relief	NOUN
ftr-443	831	20	from	from	ADP
ftr-443	831	21	indebtedness	indebtedness	NOUN
ftr-443	831	22	(	(	PUNCT
ftr-443	831	23	net	net	NOUN
ftr-443	831	24	of	of	ADP
ftr-443	831	25	debts	debt	NOUN
ftr-443	831	26	assumed	assume	VERB
ftr-443	831	27	or	or	CCONJ
ftr-443	831	28	taken	take	VERB
ftr-443	831	29	subject	subject	NOUN
ftr-443	831	30	to	to	ADP
ftr-443	831	31	)	)	PUNCT
ftr-443	831	32	and	and	CCONJ
ftr-443	831	33	certain	certain	ADJ
ftr-443	831	34	marketable	marketable	ADJ
ftr-443	831	35	securities	security	NOUN
ftr-443	831	36	are	be	AUX
ftr-443	831	37	treated	treat	VERB
ftr-443	831	38	as	as	ADP
ftr-443	831	39	cash	cash	NOUN
ftr-443	831	40	for	for	ADP
ftr-443	831	41	this	this	DET
ftr-443	831	42	purpose	purpose	NOUN
ftr-443	831	43	.	.	PUNCT
ftr-443	832	1	if	if	SCONJ
ftr-443	832	2	a	a	DET
ftr-443	832	3	member	member	NOUN
ftr-443	832	4	receives	receive	VERB
ftr-443	832	5	only	only	ADV
ftr-443	832	6	money	money	NOUN
ftr-443	832	7	in	in	ADP
ftr-443	832	8	liquidation	liquidation	NOUN
ftr-443	832	9	of	of	ADP
ftr-443	832	10	his	his	PRON
ftr-443	832	11	or	or	CCONJ
ftr-443	832	12	her	her	PRON
ftr-443	832	13	interest	interest	NOUN
ftr-443	832	14	,	,	PUNCT
ftr-443	832	15	loss	loss	NOUN
ftr-443	832	16	is	be	AUX
ftr-443	832	17	recognized	recognize	VERB
ftr-443	832	18	to	to	ADP
ftr-443	832	19	the	the	DET
ftr-443	832	20	extent	extent	NOUN
ftr-443	832	21	the	the	DET
ftr-443	832	22	distribution	distribution	NOUN
ftr-443	832	23	is	be	AUX
ftr-443	832	24	less	less	ADJ
ftr-443	832	25	than	than	ADP
ftr-443	832	26	the	the	DET
ftr-443	832	27	basis	basis	NOUN
ftr-443	832	28	of	of	ADP
ftr-443	832	29	the	the	DET
ftr-443	832	30	member	member	NOUN
ftr-443	832	31	's	's	PART
ftr-443	832	32	interest	interest	NOUN
ftr-443	832	33	.	.	PUNCT
ftr-443	833	1	33	33	NUM
ftr-443	834	1	if	if	SCONJ
ftr-443	834	2	the	the	DET
ftr-443	834	3	liquidation	liquidation	NOUN
ftr-443	834	4	distribution	distribution	NOUN
ftr-443	834	5	is	be	AUX
ftr-443	834	6	disproportionate	disproportionate	ADJ
ftr-443	834	7	as	as	SCONJ
ftr-443	834	8	to	to	PART
ftr-443	834	9	section	section	VERB
ftr-443	834	10	751	751	NUM
ftr-443	834	11	property	property	NOUN
ftr-443	834	12	,	,	PUNCT
ftr-443	834	13	gain	gain	NOUN
ftr-443	834	14	or	or	CCONJ
ftr-443	834	15	loss	loss	NOUN
ftr-443	834	16	is	be	AUX
ftr-443	834	17	recognized	recognize	VERB
ftr-443	834	18	.	.	PUNCT
ftr-443	835	1	"s	"s	PROPN
ftr-443	835	2	distributed	distribute	VERB
ftr-443	835	3	unrealized	unrealized	ADJ
ftr-443	835	4	receivables	receivables	NOUN
ftr-443	835	5	and	and	CCONJ
ftr-443	835	6	inventory	inventory	NOUN
ftr-443	835	7	bear	bear	VERB
ftr-443	835	8	an	an	DET
ftr-443	835	9	ordinary	ordinary	ADJ
ftr-443	835	10	-	-	PUNCT
ftr-443	835	11	income	income	NOUN
ftr-443	835	12	taint	taint	NOUN
ftr-443	835	13	under	under	ADP
ftr-443	835	14	section	section	NOUN
ftr-443	835	15	735(a	735(a	NUM
ftr-443	835	16	)	)	PUNCT
ftr-443	835	17	.	.	PUNCT
ftr-443	836	1	129	129	NUM
ftr-443	836	2	.	.	PUNCT
ftr-443	837	1	see	see	VERB
ftr-443	837	2	irc	irc	PROPN
ftr-443	837	3	§	§	PROPN
ftr-443	837	4	731(a)(1	731(a)(1	PROPN
ftr-443	837	5	)	)	PUNCT
ftr-443	837	6	;	;	PUNCT
ftr-443	837	7	regs	reg	NOUN
ftr-443	837	8	.	.	PUNCT
ftr-443	838	1	§	§	PROPN
ftr-443	838	2	1.731	1.731	NUM
ftr-443	838	3	-	-	PUNCT
ftr-443	838	4	1(a)(l)(ii	1(a)(l)(ii	NUM
ftr-443	838	5	)	)	PUNCT
ftr-443	838	6	(	(	PUNCT
ftr-443	838	7	treating	treat	VERB
ftr-443	838	8	advances	advance	NOUN
ftr-443	838	9	and	and	CCONJ
ftr-443	838	10	draws	draw	NOUN
ftr-443	838	11	as	as	ADP
ftr-443	838	12	distributions	distribution	NOUN
ftr-443	838	13	on	on	ADP
ftr-443	838	14	the	the	DET
ftr-443	838	15	last	last	ADJ
ftr-443	838	16	day	day	NOUN
ftr-443	838	17	of	of	ADP
ftr-443	838	18	the	the	DET
ftr-443	838	19	relevant	relevant	ADJ
ftr-443	838	20	taxable	taxable	ADJ
ftr-443	838	21	year	year	NOUN
ftr-443	838	22	)	)	PUNCT
ftr-443	838	23	.	.	PUNCT
ftr-443	839	1	money	money	NOUN
ftr-443	839	2	includes	include	VERB
ftr-443	839	3	any	any	DET
ftr-443	839	4	reduction	reduction	NOUN
ftr-443	839	5	in	in	ADP
ftr-443	839	6	the	the	DET
ftr-443	839	7	partner	partner	NOUN
ftr-443	839	8	-	-	PUNCT
ftr-443	839	9	distributee	distributee	NOUN
ftr-443	839	10	's	's	PART
ftr-443	839	11	share	share	NOUN
ftr-443	839	12	of	of	ADP
ftr-443	839	13	partnership	partnership	NOUN
ftr-443	839	14	liabilities	liability	NOUN
ftr-443	839	15	.	.	PUNCT
ftr-443	840	1	irc	irc	PROPN
ftr-443	840	2	§	§	PROPN
ftr-443	840	3	752(b	752(b	PROPN
ftr-443	840	4	)	)	PUNCT
ftr-443	840	5	.	.	PUNCT
ftr-443	841	1	an	an	DET
ftr-443	841	2	llc	llc	PROPN
ftr-443	841	3	member	member	NOUN
ftr-443	841	4	who	who	PRON
ftr-443	841	5	has	have	AUX
ftr-443	841	6	contributed	contribute	VERB
ftr-443	841	7	appreciated	appreciated	ADJ
ftr-443	841	8	property	property	NOUN
ftr-443	841	9	to	to	ADP
ftr-443	841	10	the	the	DET
ftr-443	841	11	llc	llc	NOUN
ftr-443	841	12	may	may	AUX
ftr-443	841	13	,	,	PUNCT
ftr-443	841	14	however	however	ADV
ftr-443	841	15	,	,	PUNCT
ftr-443	841	16	recognize	recognize	VERB
ftr-443	841	17	gain	gain	NOUN
ftr-443	841	18	as	as	ADP
ftr-443	841	19	a	a	DET
ftr-443	841	20	result	result	NOUN
ftr-443	841	21	of	of	ADP
ftr-443	841	22	two	two	NUM
ftr-443	841	23	types	type	NOUN
ftr-443	841	24	of	of	ADP
ftr-443	841	25	distributions	distribution	NOUN
ftr-443	841	26	.	.	PUNCT
ftr-443	842	1	under	under	ADP
ftr-443	842	2	§	§	PROPN
ftr-443	842	3	737	737	NUM
ftr-443	842	4	,	,	PUNCT
ftr-443	842	5	the	the	DET
ftr-443	842	6	contributing	contribute	VERB
ftr-443	842	7	partner	partner	NOUN
ftr-443	842	8	recognizes	recognize	VERB
ftr-443	842	9	gain	gain	NOUN
ftr-443	842	10	on	on	ADP
ftr-443	842	11	receiving	receive	VERB
ftr-443	842	12	a	a	DET
ftr-443	842	13	distribution	distribution	NOUN
ftr-443	842	14	within	within	ADP
ftr-443	842	15	seven	seven	NUM
ftr-443	842	16	years	year	NOUN
ftr-443	842	17	after	after	ADP
ftr-443	842	18	the	the	DET
ftr-443	842	19	contribution	contribution	NOUN
ftr-443	842	20	and	and	CCONJ
ftr-443	842	21	while	while	SCONJ
ftr-443	842	22	the	the	DET
ftr-443	842	23	llc	llc	PROPN
ftr-443	842	24	continues	continue	VERB
ftr-443	842	25	to	to	PART
ftr-443	842	26	hold	hold	VERB
ftr-443	842	27	the	the	DET
ftr-443	842	28	contributed	contributed	ADJ
ftr-443	842	29	property	property	NOUN
ftr-443	842	30	if	if	SCONJ
ftr-443	842	31	the	the	DET
ftr-443	842	32	value	value	NOUN
ftr-443	842	33	of	of	ADP
ftr-443	842	34	distributed	distribute	VERB
ftr-443	842	35	property	property	NOUN
ftr-443	842	36	other	other	ADJ
ftr-443	842	37	than	than	ADP
ftr-443	842	38	money	money	NOUN
ftr-443	842	39	exceeds	exceed	VERB
ftr-443	842	40	the	the	DET
ftr-443	842	41	basis	basis	NOUN
ftr-443	842	42	of	of	ADP
ftr-443	842	43	the	the	DET
ftr-443	842	44	member	member	NOUN
ftr-443	842	45	's	's	PART
ftr-443	842	46	interest	interest	NOUN
ftr-443	842	47	.	.	PUNCT
ftr-443	843	1	under	under	ADP
ftr-443	843	2	§	§	PROPN
ftr-443	843	3	704(c)(1)(b	704(c)(1)(b	PROPN
ftr-443	843	4	)	)	PUNCT
ftr-443	843	5	,	,	PUNCT
ftr-443	843	6	the	the	DET
ftr-443	843	7	contributing	contribute	VERB
ftr-443	843	8	partner	partner	NOUN
ftr-443	843	9	may	may	AUX
ftr-443	843	10	recognize	recognize	VERB
ftr-443	843	11	gain	gain	NOUN
ftr-443	843	12	if	if	SCONJ
ftr-443	843	13	the	the	DET
ftr-443	843	14	contributed	contributed	ADJ
ftr-443	843	15	property	property	NOUN
ftr-443	843	16	is	be	AUX
ftr-443	843	17	distributed	distribute	VERB
ftr-443	843	18	to	to	ADP
ftr-443	843	19	another	another	DET
ftr-443	843	20	member	member	NOUN
ftr-443	843	21	within	within	ADP
ftr-443	843	22	seven	seven	NUM
ftr-443	843	23	years	year	NOUN
ftr-443	843	24	after	after	ADP
ftr-443	843	25	the	the	DET
ftr-443	843	26	contribution	contribution	NOUN
ftr-443	843	27	.	.	PUNCT
ftr-443	844	1	130	130	NUM
ftr-443	844	2	.	.	PUNCT
ftr-443	845	1	see	see	VERB
ftr-443	845	2	irc	irc	PROPN
ftr-443	845	3	§	§	PROPN
ftr-443	845	4	731(c	731(c	PROPN
ftr-443	845	5	)	)	PUNCT
ftr-443	845	6	(	(	PUNCT
ftr-443	845	7	applicable	applicable	ADJ
ftr-443	845	8	to	to	ADP
ftr-443	845	9	distributions	distribution	NOUN
ftr-443	845	10	made	make	VERB
ftr-443	845	11	after	after	ADP
ftr-443	845	12	december	december	PROPN
ftr-443	845	13	8	8	NUM
ftr-443	845	14	,	,	PUNCT
ftr-443	845	15	1994	1994	NUM
ftr-443	845	16	,	,	PUNCT
ftr-443	845	17	subject	subject	ADJ
ftr-443	845	18	to	to	ADP
ftr-443	845	19	various	various	ADJ
ftr-443	845	20	transitional	transitional	ADJ
ftr-443	845	21	rules	rule	NOUN
ftr-443	845	22	)	)	PUNCT
ftr-443	845	23	.	.	PUNCT
ftr-443	846	1	this	this	DET
ftr-443	846	2	rule	rule	NOUN
ftr-443	846	3	is	be	AUX
ftr-443	846	4	subject	subject	ADJ
ftr-443	846	5	to	to	ADP
ftr-443	846	6	a	a	DET
ftr-443	846	7	few	few	ADJ
ftr-443	846	8	exceptions	exception	NOUN
ftr-443	846	9	,	,	PUNCT
ftr-443	846	10	including	include	VERB
ftr-443	846	11	distributions	distribution	NOUN
ftr-443	846	12	of	of	ADP
ftr-443	846	13	originally	originally	ADV
ftr-443	846	14	contributed	contribute	VERB
ftr-443	846	15	securities	security	NOUN
ftr-443	846	16	and	and	CCONJ
ftr-443	846	17	distributions	distribution	NOUN
ftr-443	846	18	from	from	ADP
ftr-443	846	19	"	"	PUNCT
ftr-443	846	20	investment	investment	NOUN
ftr-443	846	21	partnerships	partnership	NOUN
ftr-443	846	22	.	.	PUNCT
ftr-443	846	23	"	"	PUNCT
ftr-443	847	1	irc	irc	ADV
ftr-443	847	2	§	§	PROPN
ftr-443	847	3	731(c)(3	731(c)(3	NOUN
ftr-443	847	4	)	)	PUNCT
ftr-443	847	5	.	.	PUNCT
ftr-443	848	1	131	131	X
ftr-443	848	2	.	.	PUNCT
ftr-443	848	3	see	see	VERB
ftr-443	848	4	irc	irc	PROPN
ftr-443	848	5	§	§	PROPN
ftr-443	848	6	732(a)(2	732(a)(2	NOUN
ftr-443	848	7	)	)	PUNCT
ftr-443	848	8	.	.	PUNCT
ftr-443	849	1	132	132	NUM
ftr-443	849	2	.	.	PUNCT
ftr-443	849	3	see	see	VERB
ftr-443	849	4	irc	irc	PROPN
ftr-443	849	5	§	§	PROPN
ftr-443	849	6	§	§	PROPN
ftr-443	849	7	735(a	735(a	NUM
ftr-443	849	8	)	)	PUNCT
ftr-443	849	9	.	.	PUNCT
ftr-443	850	1	133	133	NUM
ftr-443	850	2	.	.	PUNCT
ftr-443	850	3	see	see	VERB
ftr-443	850	4	irc	irc	ADV
ftr-443	850	5	§	§	PROPN
ftr-443	850	6	731(a)(2	731(a)(2	NOUN
ftr-443	850	7	)	)	PUNCT
ftr-443	850	8	.	.	PUNCT
ftr-443	851	1	134	134	NUM
ftr-443	851	2	.	.	PUNCT
ftr-443	852	1	see	see	VERB
ftr-443	852	2	yourman	yourman	PROPN
ftr-443	852	3	v.	v.	PROPN
ftr-443	852	4	united	united	PROPN
ftr-443	852	5	states	states	PROPN
ftr-443	852	6	,	,	PUNCT
ftr-443	852	7	277	277	NUM
ftr-443	852	8	f.	f.	PROPN
ftr-443	852	9	supp	supp	PROPN
ftr-443	852	10	.	.	PUNCT
ftr-443	853	1	818	818	NUM
ftr-443	853	2	(	(	PUNCT
ftr-443	853	3	s.d	s.d	PROPN
ftr-443	853	4	.	.	PROPN
ftr-443	853	5	cal	cal	PROPN
ftr-443	853	6	.	.	PROPN
ftr-443	853	7	1967	1967	NUM
ftr-443	853	8	)	)	PUNCT
ftr-443	854	1	;	;	PUNCT
ftr-443	854	2	rev	rev	PROPN
ftr-443	854	3	.	.	PROPN
ftr-443	855	1	rul	rul	PROPN
ftr-443	855	2	.	.	PUNCT
ftr-443	856	1	77	77	NUM
ftr-443	856	2	-	-	SYM
ftr-443	856	3	412	412	NUM
ftr-443	856	4	,	,	PUNCT
ftr-443	856	5	1977	1977	NUM
ftr-443	856	6	-	-	SYM
ftr-443	856	7	2	2	NUM
ftr-443	856	8	c.b	c.b	PROPN
ftr-443	856	9	.	.	PROPN
ftr-443	856	10	223	223	NUM
ftr-443	856	11	.	.	PUNCT
ftr-443	857	1	1999	1999	NUM
ftr-443	857	2	]	]	PUNCT
ftr-443	857	3	florida	florida	PROPN
ftr-443	857	4	tax	tax	PROPN
ftr-443	857	5	review	review	NOUN
ftr-443	857	6	liquidation	liquidation	NOUN
ftr-443	857	7	analysis	analysis	NOUN
ftr-443	857	8	is	be	AUX
ftr-443	857	9	required	require	VERB
ftr-443	857	10	where	where	SCONJ
ftr-443	857	11	there	there	PRON
ftr-443	857	12	is	be	VERB
ftr-443	857	13	a	a	DET
ftr-443	857	14	constructive	constructive	ADJ
ftr-443	857	15	termination	termination	NOUN
ftr-443	857	16	under	under	ADP
ftr-443	857	17	section	section	NOUN
ftr-443	857	18	708	708	NUM
ftr-443	857	19	,	,	PUNCT
ftr-443	857	20	which	which	PRON
ftr-443	857	21	may	may	AUX
ftr-443	857	22	result	result	VERB
ftr-443	857	23	in	in	ADP
ftr-443	857	24	a	a	DET
ftr-443	857	25	bunching	bunching	NOUN
ftr-443	857	26	of	of	ADP
ftr-443	857	27	income	income	NOUN
ftr-443	857	28	for	for	ADP
ftr-443	857	29	more	more	ADJ
ftr-443	857	30	than	than	ADP
ftr-443	857	31	a	a	DET
ftr-443	857	32	12	12	NUM
ftr-443	857	33	-	-	PUNCT
ftr-443	857	34	month	month	NOUN
ftr-443	857	35	period	period	NOUN
ftr-443	857	36	with	with	ADP
ftr-443	857	37	respect	respect	NOUN
ftr-443	857	38	to	to	ADP
ftr-443	857	39	llc	llc	PROPN
ftr-443	857	40	members	member	NOUN
ftr-443	857	41	.	.	PUNCT
ftr-443	858	1	14	14	NUM
ftr-443	858	2	.	.	PUNCT
ftr-443	859	1	redemptions	redemption	NOUN
ftr-443	859	2	of	of	ADP
ftr-443	859	3	stock	stock	NOUN
ftr-443	859	4	and	and	CCONJ
ftr-443	859	5	interests	interest	NOUN
ftr-443	859	6	a.	a.	NOUN
ftr-443	859	7	s	s	NOUN
ftr-443	859	8	corporations.-distributions	corporations.-distribution	NOUN
ftr-443	859	9	in	in	ADP
ftr-443	859	10	redemption	redemption	NOUN
ftr-443	859	11	of	of	ADP
ftr-443	859	12	s	s	NOUN
ftr-443	859	13	stock	stock	NOUN
ftr-443	859	14	are	be	AUX
ftr-443	859	15	either	either	CCONJ
ftr-443	859	16	nonexchange	nonexchange	NOUN
ftr-443	859	17	events	event	NOUN
ftr-443	859	18	,	,	PUNCT
ftr-443	859	19	subject	subject	ADJ
ftr-443	859	20	to	to	ADP
ftr-443	859	21	the	the	DET
ftr-443	859	22	rules	rule	NOUN
ftr-443	859	23	for	for	ADP
ftr-443	859	24	ordinary	ordinary	ADJ
ftr-443	859	25	distributions	distribution	NOUN
ftr-443	859	26	,	,	PUNCT
ftr-443	859	27	or	or	CCONJ
ftr-443	859	28	exchange	exchange	NOUN
ftr-443	859	29	events	event	NOUN
ftr-443	859	30	.	.	PUNCT
ftr-443	860	1	a	a	DET
ftr-443	860	2	redemption	redemption	NOUN
ftr-443	860	3	is	be	AUX
ftr-443	860	4	considered	consider	VERB
ftr-443	860	5	a	a	DET
ftr-443	860	6	sale	sale	NOUN
ftr-443	860	7	or	or	CCONJ
ftr-443	860	8	exchange	exchange	NOUN
ftr-443	860	9	of	of	ADP
ftr-443	860	10	the	the	DET
ftr-443	860	11	redeemed	redeem	VERB
ftr-443	860	12	stock	stock	NOUN
ftr-443	860	13	if	if	SCONJ
ftr-443	860	14	the	the	DET
ftr-443	860	15	shareholder	shareholder	NOUN
ftr-443	860	16	's	's	PART
ftr-443	860	17	interest	interest	NOUN
ftr-443	860	18	is	be	AUX
ftr-443	860	19	meaningfully	meaningfully	ADV
ftr-443	860	20	reduced	reduce	VERB
ftr-443	860	21	(	(	PUNCT
ftr-443	860	22	section	section	NOUN
ftr-443	860	23	302(b)(1	302(b)(1	NUM
ftr-443	860	24	)	)	PUNCT
ftr-443	860	25	)	)	PUNCT
ftr-443	860	26	,	,	PUNCT
ftr-443	860	27	the	the	DET
ftr-443	860	28	redemption	redemption	NOUN
ftr-443	860	29	meets	meet	VERB
ftr-443	860	30	the	the	DET
ftr-443	860	31	substantially	substantially	ADV
ftr-443	860	32	-	-	PUNCT
ftr-443	860	33	disproportionate	disproportionate	ADJ
ftr-443	860	34	test	test	NOUN
ftr-443	860	35	of	of	ADP
ftr-443	860	36	section	section	NOUN
ftr-443	860	37	302(b)(2	302(b)(2	NUM
ftr-443	860	38	)	)	PUNCT
ftr-443	860	39	,	,	PUNCT
ftr-443	860	40	the	the	DET
ftr-443	860	41	shareholder	shareholder	NOUN
ftr-443	860	42	's	's	PART
ftr-443	860	43	interest	interest	NOUN
ftr-443	860	44	in	in	ADP
ftr-443	860	45	the	the	DET
ftr-443	860	46	corporation	corporation	NOUN
ftr-443	860	47	is	be	AUX
ftr-443	860	48	terminated	terminate	VERB
ftr-443	860	49	(	(	PUNCT
ftr-443	860	50	section	section	NOUN
ftr-443	860	51	302(b)(3	302(b)(3	NUM
ftr-443	860	52	)	)	PUNCT
ftr-443	860	53	)	)	PUNCT
ftr-443	860	54	,	,	PUNCT
ftr-443	860	55	or	or	CCONJ
ftr-443	860	56	the	the	DET
ftr-443	860	57	redemption	redemption	NOUN
ftr-443	860	58	is	be	AUX
ftr-443	860	59	made	make	VERB
ftr-443	860	60	to	to	PART
ftr-443	860	61	pay	pay	VERB
ftr-443	860	62	death	death	NOUN
ftr-443	860	63	taxes	taxis	NOUN
ftr-443	860	64	(	(	PUNCT
ftr-443	860	65	section	section	NOUN
ftr-443	860	66	303	303	NUM
ftr-443	860	67	)	)	PUNCT
ftr-443	860	68	.	.	PUNCT
ftr-443	861	1	in	in	ADP
ftr-443	861	2	determining	determine	VERB
ftr-443	861	3	gain	gain	NOUN
ftr-443	861	4	or	or	CCONJ
ftr-443	861	5	loss	loss	NOUN
ftr-443	861	6	on	on	ADP
ftr-443	861	7	a	a	DET
ftr-443	861	8	redemption	redemption	NOUN
ftr-443	861	9	qualifying	qualify	VERB
ftr-443	861	10	for	for	ADP
ftr-443	861	11	exchange	exchange	NOUN
ftr-443	861	12	treatment	treatment	NOUN
ftr-443	861	13	,	,	PUNCT
ftr-443	861	14	stock	stock	NOUN
ftr-443	861	15	basis	basis	NOUN
ftr-443	861	16	is	be	AUX
ftr-443	861	17	adjusted	adjust	VERB
ftr-443	861	18	for	for	ADP
ftr-443	861	19	corporate	corporate	ADJ
ftr-443	861	20	income	income	NOUN
ftr-443	861	21	and	and	CCONJ
ftr-443	861	22	loss	loss	NOUN
ftr-443	861	23	for	for	ADP
ftr-443	861	24	the	the	DET
ftr-443	861	25	year	year	NOUN
ftr-443	861	26	of	of	ADP
ftr-443	861	27	redemption	redemption	NOUN
ftr-443	861	28	,	,	PUNCT
ftr-443	861	29	which	which	PRON
ftr-443	861	30	may	may	AUX
ftr-443	861	31	be	be	AUX
ftr-443	861	32	closed	close	VERB
ftr-443	861	33	on	on	ADP
ftr-443	861	34	the	the	DET
ftr-443	861	35	redemption	redemption	NOUN
ftr-443	861	36	date	date	NOUN
ftr-443	861	37	by	by	ADP
ftr-443	861	38	election	election	NOUN
ftr-443	861	39	of	of	ADP
ftr-443	861	40	the	the	DET
ftr-443	861	41	corporation	corporation	NOUN
ftr-443	861	42	and	and	CCONJ
ftr-443	861	43	its	its	PRON
ftr-443	861	44	shareholders	shareholder	NOUN
ftr-443	861	45	.	.	PUNCT
ftr-443	862	1	3	3	NUM
ftr-443	862	2	5	5	NUM
ftr-443	862	3	gain	gain	NOUN
ftr-443	862	4	or	or	CCONJ
ftr-443	862	5	loss	loss	NOUN
ftr-443	862	6	is	be	AUX
ftr-443	862	7	generally	generally	ADV
ftr-443	862	8	capital	capital	NOUN
ftr-443	862	9	,	,	PUNCT
ftr-443	862	10	and	and	CCONJ
ftr-443	862	11	installment	installment	NOUN
ftr-443	862	12	sale	sale	NOUN
ftr-443	862	13	reporting	reporting	NOUN
ftr-443	862	14	may	may	AUX
ftr-443	862	15	be	be	AUX
ftr-443	862	16	available	available	ADJ
ftr-443	862	17	.	.	PUNCT
ftr-443	863	1	if	if	SCONJ
ftr-443	863	2	a	a	DET
ftr-443	863	3	redemption	redemption	NOUN
ftr-443	863	4	does	do	AUX
ftr-443	863	5	not	not	PART
ftr-443	863	6	qualify	qualify	VERB
ftr-443	863	7	for	for	ADP
ftr-443	863	8	exchange	exchange	NOUN
ftr-443	863	9	treatment	treatment	NOUN
ftr-443	863	10	,	,	PUNCT
ftr-443	863	11	the	the	DET
ftr-443	863	12	distribution	distribution	NOUN
ftr-443	863	13	is	be	AUX
ftr-443	863	14	treated	treat	VERB
ftr-443	863	15	under	under	ADP
ftr-443	863	16	section	section	NOUN
ftr-443	863	17	1368	1368	NUM
ftr-443	863	18	.	.	PUNCT
ftr-443	864	1	if	if	SCONJ
ftr-443	864	2	the	the	DET
ftr-443	864	3	corporation	corporation	NOUN
ftr-443	864	4	does	do	AUX
ftr-443	864	5	not	not	PART
ftr-443	864	6	have	have	AUX
ftr-443	864	7	accumulated	accumulate	VERB
ftr-443	864	8	earnings	earning	NOUN
ftr-443	864	9	and	and	CCONJ
ftr-443	864	10	profits	profit	NOUN
ftr-443	864	11	for	for	ADP
ftr-443	864	12	years	year	NOUN
ftr-443	864	13	before	before	ADP
ftr-443	864	14	the	the	DET
ftr-443	864	15	s	s	PROPN
ftr-443	864	16	election	election	NOUN
ftr-443	864	17	,	,	PUNCT
ftr-443	864	18	the	the	DET
ftr-443	864	19	distribution	distribution	NOUN
ftr-443	864	20	is	be	AUX
ftr-443	864	21	nontaxable	nontaxable	ADJ
ftr-443	864	22	to	to	ADP
ftr-443	864	23	the	the	DET
ftr-443	864	24	extent	extent	NOUN
ftr-443	864	25	of	of	ADP
ftr-443	864	26	the	the	DET
ftr-443	864	27	shareholder	shareholder	NOUN
ftr-443	864	28	's	's	PART
ftr-443	864	29	basis	basis	NOUN
ftr-443	864	30	,	,	PUNCT
ftr-443	864	31	and	and	CCONJ
ftr-443	864	32	any	any	DET
ftr-443	864	33	amount	amount	NOUN
ftr-443	864	34	by	by	ADP
ftr-443	864	35	which	which	PRON
ftr-443	864	36	the	the	DET
ftr-443	864	37	distribution	distribution	NOUN
ftr-443	864	38	exceeds	exceed	VERB
ftr-443	864	39	basis	basis	NOUN
ftr-443	864	40	is	be	AUX
ftr-443	864	41	usually	usually	ADV
ftr-443	864	42	long	long	ADJ
ftr-443	864	43	-	-	PUNCT
ftr-443	864	44	term	term	NOUN
ftr-443	864	45	capital	capital	NOUN
ftr-443	864	46	gain	gain	NOUN
ftr-443	864	47	.	.	PUNCT
ftr-443	865	1	if	if	SCONJ
ftr-443	865	2	the	the	DET
ftr-443	865	3	corporation	corporation	NOUN
ftr-443	865	4	has	have	AUX
ftr-443	865	5	undistributed	undistribute	VERB
ftr-443	865	6	c	c	PROPN
ftr-443	865	7	year	year	NOUN
ftr-443	865	8	earnings	earning	NOUN
ftr-443	865	9	and	and	CCONJ
ftr-443	865	10	profits	profit	NOUN
ftr-443	865	11	,	,	PUNCT
ftr-443	865	12	the	the	DET
ftr-443	865	13	distribution	distribution	NOUN
ftr-443	865	14	is	be	AUX
ftr-443	865	15	first	first	ADV
ftr-443	865	16	a	a	DET
ftr-443	865	17	nontaxable	nontaxable	ADJ
ftr-443	865	18	distribution	distribution	NOUN
ftr-443	865	19	of	of	ADP
ftr-443	865	20	the	the	DET
ftr-443	865	21	aaa	aaa	NOUN
ftr-443	865	22	(	(	PUNCT
ftr-443	865	23	generally	generally	ADV
ftr-443	865	24	consisting	consist	VERB
ftr-443	865	25	of	of	ADP
ftr-443	865	26	s	s	PART
ftr-443	865	27	period	period	NOUN
ftr-443	865	28	taxable	taxable	ADJ
ftr-443	865	29	income	income	NOUN
ftr-443	865	30	)	)	PUNCT
ftr-443	865	31	,	,	PUNCT
ftr-443	865	32	second	second	ADJ
ftr-443	865	33	a	a	DET
ftr-443	865	34	dividend	dividend	NOUN
ftr-443	865	35	to	to	ADP
ftr-443	865	36	the	the	DET
ftr-443	865	37	extent	extent	NOUN
ftr-443	865	38	of	of	ADP
ftr-443	865	39	the	the	DET
ftr-443	865	40	c	c	NOUN
ftr-443	865	41	earnings	earning	NOUN
ftr-443	865	42	and	and	CCONJ
ftr-443	865	43	profits	profit	NOUN
ftr-443	865	44	,	,	PUNCT
ftr-443	865	45	and	and	CCONJ
ftr-443	865	46	third	third	ADJ
ftr-443	865	47	gain	gain	NOUN
ftr-443	865	48	on	on	ADP
ftr-443	865	49	a	a	DET
ftr-443	865	50	sale	sale	NOUN
ftr-443	865	51	of	of	ADP
ftr-443	865	52	the	the	DET
ftr-443	865	53	stock	stock	NOUN
ftr-443	865	54	.	.	PUNCT
ftr-443	866	1	36	36	NUM
ftr-443	866	2	if	if	SCONJ
ftr-443	866	3	the	the	DET
ftr-443	866	4	redeemed	redeem	VERB
ftr-443	866	5	shareholder	shareholder	NOUN
ftr-443	866	6	has	have	VERB
ftr-443	866	7	a	a	DET
ftr-443	866	8	high	high	ADJ
ftr-443	866	9	stock	stock	NOUN
ftr-443	866	10	basis	basis	NOUN
ftr-443	866	11	,	,	PUNCT
ftr-443	866	12	nonexchange	nonexchange	NOUN
ftr-443	866	13	treatment	treatment	NOUN
ftr-443	866	14	is	be	AUX
ftr-443	866	15	frequently	frequently	ADV
ftr-443	866	16	advantageous	advantageous	ADJ
ftr-443	866	17	because	because	SCONJ
ftr-443	866	18	it	it	PRON
ftr-443	866	19	facilitates	facilitate	VERB
ftr-443	866	20	recovery	recovery	NOUN
ftr-443	866	21	of	of	ADP
ftr-443	866	22	stock	stock	NOUN
ftr-443	866	23	basis	basis	NOUN
ftr-443	866	24	and	and	CCONJ
ftr-443	866	25	,	,	PUNCT
ftr-443	866	26	where	where	SCONJ
ftr-443	866	27	a	a	DET
ftr-443	866	28	large	large	ADJ
ftr-443	866	29	aaa	aaa	NOUN
ftr-443	866	30	is	be	AUX
ftr-443	866	31	available	available	ADJ
ftr-443	866	32	,	,	PUNCT
ftr-443	866	33	a	a	DET
ftr-443	866	34	dollar	dollar	NOUN
ftr-443	866	35	-	-	PUNCT
ftr-443	866	36	for	for	ADP
ftr-443	866	37	-	-	PUNCT
ftr-443	866	38	dollar	dollar	NOUN
ftr-443	866	39	allocation	allocation	NOUN
ftr-443	866	40	to	to	ADP
ftr-443	866	41	the	the	DET
ftr-443	866	42	account	account	NOUN
ftr-443	866	43	.	.	PUNCT
ftr-443	867	1	a	a	DET
ftr-443	867	2	redemption	redemption	NOUN
ftr-443	867	3	generally	generally	ADV
ftr-443	867	4	has	have	VERB
ftr-443	867	5	no	no	DET
ftr-443	867	6	direct	direct	ADJ
ftr-443	867	7	tax	tax	NOUN
ftr-443	867	8	impact	impact	NOUN
ftr-443	867	9	on	on	ADP
ftr-443	867	10	the	the	DET
ftr-443	867	11	corporation	corporation	NOUN
ftr-443	867	12	unless	unless	SCONJ
ftr-443	867	13	the	the	DET
ftr-443	867	14	distribution	distribution	NOUN
ftr-443	867	15	is	be	AUX
ftr-443	867	16	made	make	VERB
ftr-443	867	17	with	with	ADP
ftr-443	867	18	appreciated	appreciated	ADJ
ftr-443	867	19	property	property	NOUN
ftr-443	867	20	,	,	PUNCT
ftr-443	867	21	in	in	ADP
ftr-443	867	22	which	which	PRON
ftr-443	867	23	event	event	NOUN
ftr-443	867	24	gain	gain	NOUN
ftr-443	867	25	is	be	AUX
ftr-443	867	26	recognized	recognize	VERB
ftr-443	867	27	under	under	ADP
ftr-443	867	28	section	section	NOUN
ftr-443	867	29	311	311	NUM
ftr-443	867	30	(	(	PUNCT
ftr-443	867	31	b	b	NOUN
ftr-443	867	32	)	)	PUNCT
ftr-443	867	33	.	.	PUNCT
ftr-443	868	1	unlike	unlike	ADP
ftr-443	868	2	the	the	DET
ftr-443	868	3	ability	ability	NOUN
ftr-443	868	4	of	of	ADP
ftr-443	868	5	a	a	DET
ftr-443	868	6	tax	tax	NOUN
ftr-443	868	7	partnership	partnership	NOUN
ftr-443	868	8	to	to	PART
ftr-443	868	9	make	make	VERB
ftr-443	868	10	a	a	DET
ftr-443	868	11	section	section	NOUN
ftr-443	868	12	754	754	NUM
ftr-443	868	13	election	election	NOUN
ftr-443	868	14	,	,	PUNCT
ftr-443	868	15	no	no	DET
ftr-443	868	16	adjustment	adjustment	NOUN
ftr-443	868	17	is	be	AUX
ftr-443	868	18	made	make	VERB
ftr-443	868	19	to	to	ADP
ftr-443	868	20	the	the	DET
ftr-443	868	21	basis	basis	NOUN
ftr-443	868	22	of	of	ADP
ftr-443	868	23	either	either	CCONJ
ftr-443	868	24	the	the	DET
ftr-443	868	25	corporate	corporate	ADJ
ftr-443	868	26	assets	asset	NOUN
ftr-443	868	27	or	or	CCONJ
ftr-443	868	28	the	the	DET
ftr-443	868	29	stock	stock	NOUN
ftr-443	868	30	of	of	ADP
ftr-443	868	31	the	the	DET
ftr-443	868	32	nonredeeming	nonredeeme	VERB
ftr-443	868	33	shareholders	shareholder	NOUN
ftr-443	868	34	.	.	PUNCT
ftr-443	869	1	if	if	SCONJ
ftr-443	869	2	the	the	DET
ftr-443	869	3	redemption	redemption	NOUN
ftr-443	869	4	qualifies	qualify	VERB
ftr-443	869	5	as	as	ADP
ftr-443	869	6	an	an	DET
ftr-443	869	7	exchange	exchange	NOUN
ftr-443	869	8	,	,	PUNCT
ftr-443	869	9	earnings	earning	NOUN
ftr-443	869	10	and	and	CCONJ
ftr-443	869	11	profits	profit	NOUN
ftr-443	869	12	are	be	AUX
ftr-443	869	13	proportionately	proportionately	ADV
ftr-443	869	14	reduced	reduce	VERB
ftr-443	869	15	.	.	PUNCT
ftr-443	870	1	if	if	SCONJ
ftr-443	870	2	it	it	PRON
ftr-443	870	3	is	be	AUX
ftr-443	870	4	not	not	PART
ftr-443	870	5	an	an	DET
ftr-443	870	6	exchange	exchange	NOUN
ftr-443	870	7	,	,	PUNCT
ftr-443	870	8	the	the	DET
ftr-443	870	9	charge	charge	NOUN
ftr-443	870	10	to	to	ADP
ftr-443	870	11	earnings	earning	NOUN
ftr-443	870	12	and	and	CCONJ
ftr-443	870	13	profits	profit	NOUN
ftr-443	870	14	is	be	AUX
ftr-443	870	15	the	the	DET
ftr-443	870	16	amount	amount	NOUN
ftr-443	870	17	of	of	ADP
ftr-443	870	18	any	any	DET
ftr-443	870	19	dividend	dividend	NOUN
ftr-443	870	20	.	.	PUNCT
ftr-443	871	1	135	135	NUM
ftr-443	871	2	.	.	PUNCT
ftr-443	872	1	see	see	VERB
ftr-443	872	2	irc	irc	PROPN
ftr-443	872	3	§	§	PROPN
ftr-443	872	4	1377(a)(2	1377(a)(2	NUM
ftr-443	872	5	)	)	PUNCT
ftr-443	872	6	.	.	PUNCT
ftr-443	873	1	136	136	NUM
ftr-443	873	2	.	.	PUNCT
ftr-443	874	1	see	see	VERB
ftr-443	874	2	irc	irc	ADV
ftr-443	874	3	§	§	NOUN
ftr-443	874	4	1368(c)(2	1368(c)(2	NUM
ftr-443	874	5	)	)	PUNCT
ftr-443	874	6	.	.	PUNCT
ftr-443	875	1	[	[	X
ftr-443	875	2	vol	vol	NOUN
ftr-443	875	3	.	.	PUNCT
ftr-443	875	4	4:3	4:3	NUM
ftr-443	875	5	benefits	benefit	NOUN
ftr-443	875	6	and	and	CCONJ
ftr-443	875	7	burdens	burden	NOUN
ftr-443	875	8	of	of	ADP
ftr-443	875	9	subchapter	subchapter	NOUN
ftr-443	875	10	s	s	PART
ftr-443	875	11	b.	b.	NOUN
ftr-443	875	12	redemption	redemption	NOUN
ftr-443	875	13	of	of	ADP
ftr-443	875	14	llc	llc	PROPN
ftr-443	875	15	interests.-complete	interests.-complete	CCONJ
ftr-443	875	16	liquidation	liquidation	NOUN
ftr-443	875	17	of	of	ADP
ftr-443	875	18	an	an	DET
ftr-443	875	19	llc	llc	PROPN
ftr-443	875	20	member	member	NOUN
ftr-443	875	21	's	's	PART
ftr-443	875	22	interest	interest	NOUN
ftr-443	875	23	may	may	AUX
ftr-443	875	24	be	be	AUX
ftr-443	875	25	accomplished	accomplish	VERB
ftr-443	875	26	by	by	ADP
ftr-443	875	27	one	one	NUM
ftr-443	875	28	distribution	distribution	NOUN
ftr-443	875	29	or	or	CCONJ
ftr-443	875	30	a	a	DET
ftr-443	875	31	series	series	NOUN
ftr-443	875	32	of	of	ADP
ftr-443	875	33	distributions	distribution	NOUN
ftr-443	875	34	,	,	PUNCT
ftr-443	875	35	even	even	ADV
ftr-443	875	36	in	in	ADP
ftr-443	875	37	a	a	DET
ftr-443	875	38	two	two	NUM
ftr-443	875	39	member	member	NOUN
ftr-443	875	40	context	context	NOUN
ftr-443	875	41	.	.	PUNCT
ftr-443	875	42	'	'	PUNCT
ftr-443	875	43	"	"	PUNCT
ftr-443	875	44	the	the	DET
ftr-443	875	45	departing	depart	VERB
ftr-443	875	46	member	member	NOUN
ftr-443	875	47	generally	generally	ADV
ftr-443	875	48	recognizes	recognize	VERB
ftr-443	875	49	no	no	DET
ftr-443	875	50	gain	gain	NOUN
ftr-443	875	51	or	or	CCONJ
ftr-443	875	52	loss	loss	NOUN
ftr-443	875	53	,	,	PUNCT
ftr-443	875	54	except	except	SCONJ
ftr-443	875	55	to	to	ADP
ftr-443	875	56	the	the	DET
ftr-443	875	57	extent	extent	NOUN
ftr-443	875	58	that	that	SCONJ
ftr-443	875	59	money	money	NOUN
ftr-443	875	60	distributed	distribute	VERB
ftr-443	875	61	or	or	CCONJ
ftr-443	875	62	deemed	deem	VERB
ftr-443	875	63	distributed	distribute	VERB
ftr-443	875	64	exceeds	exceed	NOUN
ftr-443	875	65	basis	basis	NOUN
ftr-443	875	66	.	.	PUNCT
ftr-443	876	1	8	8	NUM
ftr-443	876	2	if	if	SCONJ
ftr-443	876	3	the	the	DET
ftr-443	876	4	llc	llc	PROPN
ftr-443	876	5	's	's	PART
ftr-443	876	6	business	business	NOUN
ftr-443	876	7	is	be	AUX
ftr-443	876	8	performing	perform	VERB
ftr-443	876	9	services	service	NOUN
ftr-443	876	10	(	(	PUNCT
ftr-443	876	11	that	that	PRON
ftr-443	876	12	is	is	ADV
ftr-443	876	13	,	,	PUNCT
ftr-443	876	14	if	if	SCONJ
ftr-443	876	15	capital	capital	NOUN
ftr-443	876	16	is	be	AUX
ftr-443	876	17	not	not	PART
ftr-443	876	18	a	a	DET
ftr-443	876	19	material	material	NOUN
ftr-443	876	20	income	income	NOUN
ftr-443	876	21	producing	produce	VERB
ftr-443	876	22	factor	factor	NOUN
ftr-443	876	23	)	)	PUNCT
ftr-443	876	24	,	,	PUNCT
ftr-443	876	25	payments	payment	NOUN
ftr-443	876	26	for	for	ADP
ftr-443	876	27	the	the	DET
ftr-443	876	28	member	member	NOUN
ftr-443	876	29	's	's	PART
ftr-443	876	30	interest	interest	NOUN
ftr-443	876	31	in	in	ADP
ftr-443	876	32	the	the	DET
ftr-443	876	33	llc	llc	PROPN
ftr-443	876	34	's	's	PART
ftr-443	876	35	unrealized	unrealized	ADJ
ftr-443	876	36	receivables	receivables	NOUN
ftr-443	876	37	or	or	CCONJ
ftr-443	876	38	goodwill	goodwill	NOUN
ftr-443	876	39	qualify	qualify	VERB
ftr-443	876	40	for	for	ADP
ftr-443	876	41	special	special	ADJ
ftr-443	876	42	treatment	treatment	NOUN
ftr-443	876	43	under	under	ADP
ftr-443	876	44	section	section	NOUN
ftr-443	876	45	736(a).39	736(a).39	NOUN
ftr-443	876	46	these	these	DET
ftr-443	876	47	payments	payment	NOUN
ftr-443	876	48	are	be	AUX
ftr-443	876	49	taxed	tax	VERB
ftr-443	876	50	as	as	ADP
ftr-443	876	51	ordinary	ordinary	ADJ
ftr-443	876	52	income	income	NOUN
ftr-443	876	53	to	to	ADP
ftr-443	876	54	the	the	DET
ftr-443	876	55	recipient	recipient	NOUN
ftr-443	876	56	and	and	CCONJ
ftr-443	876	57	the	the	DET
ftr-443	876	58	entitypayor	entitypayor	NOUN
ftr-443	876	59	's	's	PART
ftr-443	876	60	income	income	NOUN
ftr-443	876	61	is	be	AUX
ftr-443	876	62	correspondingly	correspondingly	ADV
ftr-443	876	63	reduced	reduce	VERB
ftr-443	876	64	.	.	PUNCT
ftr-443	877	1	other	other	ADJ
ftr-443	877	2	distributions	distribution	NOUN
ftr-443	877	3	in	in	ADP
ftr-443	877	4	liquidation	liquidation	NOUN
ftr-443	877	5	of	of	ADP
ftr-443	877	6	a	a	DET
ftr-443	877	7	member	member	NOUN
ftr-443	877	8	's	's	PART
ftr-443	877	9	interest	interest	NOUN
ftr-443	877	10	are	be	AUX
ftr-443	877	11	governed	govern	VERB
ftr-443	877	12	by	by	ADP
ftr-443	877	13	the	the	DET
ftr-443	877	14	rules	rule	NOUN
ftr-443	877	15	for	for	ADP
ftr-443	877	16	distributions	distribution	NOUN
ftr-443	877	17	described	describe	VERB
ftr-443	877	18	above	above	ADV
ftr-443	877	19	.	.	PUNCT
ftr-443	878	1	if	if	SCONJ
ftr-443	878	2	the	the	DET
ftr-443	878	3	other	other	ADJ
ftr-443	878	4	distributions	distribution	NOUN
ftr-443	878	5	are	be	AUX
ftr-443	878	6	a	a	DET
ftr-443	878	7	series	series	NOUN
ftr-443	878	8	of	of	ADP
ftr-443	878	9	payments	payment	NOUN
ftr-443	878	10	,	,	PUNCT
ftr-443	878	11	the	the	DET
ftr-443	878	12	redeemed	redeem	VERB
ftr-443	878	13	member	member	NOUN
ftr-443	878	14	offsets	offset	VERB
ftr-443	878	15	the	the	DET
ftr-443	878	16	distributions	distribution	NOUN
ftr-443	878	17	against	against	ADP
ftr-443	878	18	basis	basis	NOUN
ftr-443	878	19	,	,	PUNCT
ftr-443	878	20	and	and	CCONJ
ftr-443	878	21	money	money	NOUN
ftr-443	878	22	distributions	distribution	NOUN
ftr-443	878	23	are	be	AUX
ftr-443	878	24	gain	gain	NOUN
ftr-443	878	25	only	only	ADV
ftr-443	878	26	after	after	ADP
ftr-443	878	27	basis	basis	NOUN
ftr-443	878	28	has	have	AUX
ftr-443	878	29	been	be	AUX
ftr-443	878	30	fully	fully	ADV
ftr-443	878	31	recovered	recover	VERB
ftr-443	878	32	.	.	PUNCT
ftr-443	878	33	'	'	PUNCT
ftr-443	879	1	loss	loss	NOUN
ftr-443	879	2	is	be	AUX
ftr-443	879	3	usually	usually	ADV
ftr-443	879	4	recognized	recognize	VERB
ftr-443	879	5	,	,	PUNCT
ftr-443	879	6	if	if	SCONJ
ftr-443	879	7	at	at	ADV
ftr-443	879	8	all	all	ADV
ftr-443	879	9	,	,	PUNCT
ftr-443	879	10	only	only	ADV
ftr-443	879	11	when	when	SCONJ
ftr-443	879	12	the	the	DET
ftr-443	879	13	final	final	ADJ
ftr-443	879	14	distribution	distribution	NOUN
ftr-443	879	15	is	be	AUX
ftr-443	879	16	received	receive	VERB
ftr-443	879	17	,	,	PUNCT
ftr-443	879	18	but	but	CCONJ
ftr-443	879	19	ratable	ratable	ADJ
ftr-443	879	20	reporting	reporting	NOUN
ftr-443	879	21	may	may	AUX
ftr-443	879	22	be	be	AUX
ftr-443	879	23	elected	elect	VERB
ftr-443	879	24	to	to	PART
ftr-443	879	25	accelerate	accelerate	VERB
ftr-443	879	26	the	the	DET
ftr-443	879	27	loss	loss	NOUN
ftr-443	879	28	.	.	PUNCT
ftr-443	880	1	15	15	NUM
ftr-443	880	2	.	.	PUNCT
ftr-443	881	1	sales	sale	NOUN
ftr-443	881	2	or	or	CCONJ
ftr-443	881	3	exchanges	exchange	NOUN
ftr-443	881	4	of	of	ADP
ftr-443	881	5	equity	equity	NOUN
ftr-443	881	6	interests	interest	NOUN
ftr-443	881	7	a.	a.	NOUN
ftr-443	881	8	s	s	PART
ftr-443	881	9	corporations.-an	corporations.-an	PROPN
ftr-443	881	10	s	s	PROPN
ftr-443	881	11	shareholder	shareholder	NOUN
ftr-443	881	12	's	's	PART
ftr-443	881	13	sale	sale	NOUN
ftr-443	881	14	of	of	ADP
ftr-443	881	15	part	part	NOUN
ftr-443	881	16	or	or	CCONJ
ftr-443	881	17	all	all	PRON
ftr-443	881	18	of	of	ADP
ftr-443	881	19	his	his	PRON
ftr-443	881	20	or	or	CCONJ
ftr-443	881	21	her	her	PRON
ftr-443	881	22	stock	stock	NOUN
ftr-443	881	23	usually	usually	ADV
ftr-443	881	24	results	result	VERB
ftr-443	881	25	in	in	ADP
ftr-443	881	26	long	long	ADJ
ftr-443	881	27	-	-	PUNCT
ftr-443	881	28	term	term	NOUN
ftr-443	881	29	capital	capital	NOUN
ftr-443	881	30	gain	gain	NOUN
ftr-443	881	31	or	or	CCONJ
ftr-443	881	32	loss	loss	NOUN
ftr-443	881	33	.	.	PUNCT
ftr-443	881	34	'	'	PUNCT
ftr-443	882	1	4	4	NUM
ftr-443	882	2	'	'	PUNCT
ftr-443	882	3	however	however	ADV
ftr-443	882	4	,	,	PUNCT
ftr-443	882	5	unlike	unlike	ADP
ftr-443	882	6	the	the	DET
ftr-443	882	7	situation	situation	NOUN
ftr-443	882	8	of	of	ADP
ftr-443	882	9	a	a	DET
ftr-443	882	10	partner	partner	NOUN
ftr-443	882	11	,	,	PUNCT
ftr-443	882	12	the	the	DET
ftr-443	882	13	amount	amount	NOUN
ftr-443	882	14	realized	realize	VERB
ftr-443	882	15	in	in	ADP
ftr-443	882	16	the	the	DET
ftr-443	882	17	sale	sale	NOUN
ftr-443	882	18	does	do	AUX
ftr-443	882	19	not	not	PART
ftr-443	882	20	include	include	VERB
ftr-443	882	21	any	any	DET
ftr-443	882	22	portion	portion	NOUN
ftr-443	882	23	of	of	ADP
ftr-443	882	24	the	the	DET
ftr-443	882	25	s	s	PART
ftr-443	882	26	corporation	corporation	NOUN
ftr-443	882	27	's	's	PART
ftr-443	882	28	debt	debt	NOUN
ftr-443	882	29	.	.	PUNCT
ftr-443	883	1	the	the	DET
ftr-443	883	2	shareholder	shareholder	NOUN
ftr-443	883	3	's	's	PART
ftr-443	883	4	stock	stock	NOUN
ftr-443	883	5	basis	basis	NOUN
ftr-443	883	6	is	be	AUX
ftr-443	883	7	adjusted	adjust	VERB
ftr-443	883	8	for	for	ADP
ftr-443	883	9	income	income	NOUN
ftr-443	883	10	,	,	PUNCT
ftr-443	883	11	loss	loss	NOUN
ftr-443	883	12	,	,	PUNCT
ftr-443	883	13	and	and	CCONJ
ftr-443	883	14	distributions	distribution	NOUN
ftr-443	883	15	through	through	ADP
ftr-443	883	16	the	the	DET
ftr-443	883	17	date	date	NOUN
ftr-443	883	18	of	of	ADP
ftr-443	883	19	sale	sale	NOUN
ftr-443	883	20	.	.	PUNCT
ftr-443	884	1	if	if	SCONJ
ftr-443	884	2	the	the	DET
ftr-443	884	3	sale	sale	NOUN
ftr-443	884	4	is	be	AUX
ftr-443	884	5	of	of	ADP
ftr-443	884	6	all	all	PRON
ftr-443	884	7	of	of	ADP
ftr-443	884	8	the	the	DET
ftr-443	884	9	shareholder	shareholder	NOUN
ftr-443	884	10	's	's	PART
ftr-443	884	11	stock	stock	NOUN
ftr-443	884	12	,	,	PUNCT
ftr-443	884	13	an	an	DET
ftr-443	884	14	election	election	NOUN
ftr-443	884	15	may	may	AUX
ftr-443	884	16	be	be	AUX
ftr-443	884	17	made	make	VERB
ftr-443	884	18	to	to	PART
ftr-443	884	19	close	close	VERB
ftr-443	884	20	the	the	DET
ftr-443	884	21	corporation	corporation	NOUN
ftr-443	884	22	's	's	PART
ftr-443	884	23	tax	tax	NOUN
ftr-443	884	24	year	year	NOUN
ftr-443	884	25	as	as	ADP
ftr-443	884	26	to	to	ADP
ftr-443	884	27	the	the	DET
ftr-443	884	28	shareholder	shareholder	NOUN
ftr-443	884	29	if	if	SCONJ
ftr-443	884	30	the	the	DET
ftr-443	884	31	necessary	necessary	ADJ
ftr-443	884	32	consents	consent	NOUN
ftr-443	884	33	are	be	AUX
ftr-443	884	34	given	give	VERB
ftr-443	884	35	by	by	ADP
ftr-443	884	36	the	the	DET
ftr-443	884	37	corporation	corporation	NOUN
ftr-443	884	38	and	and	CCONJ
ftr-443	884	39	its	its	PRON
ftr-443	884	40	shareholders	shareholder	NOUN
ftr-443	884	41	and	and	CCONJ
ftr-443	884	42	the	the	DET
ftr-443	884	43	termination	termination	NOUN
ftr-443	884	44	election	election	NOUN
ftr-443	884	45	is	be	AUX
ftr-443	884	46	filed	file	VERB
ftr-443	884	47	with	with	ADP
ftr-443	884	48	the	the	DET
ftr-443	884	49	corporation	corporation	NOUN
ftr-443	884	50	's	's	PART
ftr-443	884	51	return	return	NOUN
ftr-443	884	52	.	.	PUNCT
ftr-443	885	1	42	42	NUM
ftr-443	885	2	if	if	SCONJ
ftr-443	885	3	the	the	DET
ftr-443	885	4	election	election	NOUN
ftr-443	885	5	is	be	AUX
ftr-443	885	6	not	not	PART
ftr-443	885	7	made	make	VERB
ftr-443	885	8	,	,	PUNCT
ftr-443	885	9	137	137	NUM
ftr-443	885	10	.	.	PUNCT
ftr-443	886	1	see	see	VERB
ftr-443	886	2	regs	reg	NOUN
ftr-443	886	3	.	.	PUNCT
ftr-443	887	1	§	§	PROPN
ftr-443	887	2	§	§	PROPN
ftr-443	887	3	1.736	1.736	NUM
ftr-443	887	4	-	-	SYM
ftr-443	887	5	1(a)(6	1(a)(6	NUM
ftr-443	887	6	)	)	PUNCT
ftr-443	887	7	,	,	PUNCT
ftr-443	887	8	1.761	1.761	NUM
ftr-443	887	9	-	-	SYM
ftr-443	887	10	1(d	1(d	NUM
ftr-443	887	11	)	)	PUNCT
ftr-443	887	12	.	.	PUNCT
ftr-443	888	1	if	if	SCONJ
ftr-443	888	2	a	a	DET
ftr-443	888	3	series	series	NOUN
ftr-443	888	4	of	of	ADP
ftr-443	888	5	distributions	distribution	NOUN
ftr-443	888	6	is	be	AUX
ftr-443	888	7	made	make	VERB
ftr-443	888	8	to	to	ADP
ftr-443	888	9	a	a	DET
ftr-443	888	10	departing	depart	VERB
ftr-443	888	11	member	member	NOUN
ftr-443	888	12	of	of	ADP
ftr-443	888	13	a	a	DET
ftr-443	888	14	two	two	NUM
ftr-443	888	15	-	-	PUNCT
ftr-443	888	16	member	member	NOUN
ftr-443	888	17	llc	llc	PROPN
ftr-443	888	18	,	,	PUNCT
ftr-443	888	19	the	the	DET
ftr-443	888	20	departing	depart	VERB
ftr-443	888	21	member	member	NOUN
ftr-443	888	22	continues	continue	VERB
ftr-443	888	23	to	to	PART
ftr-443	888	24	be	be	AUX
ftr-443	888	25	recognized	recognize	VERB
ftr-443	888	26	as	as	ADP
ftr-443	888	27	a	a	DET
ftr-443	888	28	member	member	NOUN
ftr-443	888	29	for	for	ADP
ftr-443	888	30	tax	tax	NOUN
ftr-443	888	31	purposes	purpose	NOUN
ftr-443	888	32	until	until	SCONJ
ftr-443	888	33	the	the	DET
ftr-443	888	34	liquidation	liquidation	NOUN
ftr-443	888	35	is	be	AUX
ftr-443	888	36	completed	complete	VERB
ftr-443	888	37	.	.	PUNCT
ftr-443	889	1	138	138	NUM
ftr-443	889	2	.	.	PUNCT
ftr-443	889	3	see	see	VERB
ftr-443	889	4	irc	irc	ADV
ftr-443	889	5	§	§	PROPN
ftr-443	889	6	731(a)(2	731(a)(2	NOUN
ftr-443	889	7	)	)	PUNCT
ftr-443	889	8	;	;	PUNCT
ftr-443	889	9	see	see	VERB
ftr-443	889	10	also	also	ADV
ftr-443	889	11	supra	supra	ADJ
ftr-443	889	12	text	text	NOUN
ftr-443	889	13	accompanying	accompany	VERB
ftr-443	889	14	notes	note	NOUN
ftr-443	889	15	133	133	NUM
ftr-443	889	16	-	-	SYM
ftr-443	889	17	134	134	NUM
ftr-443	889	18	.	.	PUNCT
ftr-443	890	1	139	139	NUM
ftr-443	890	2	.	.	PUNCT
ftr-443	890	3	section	section	NOUN
ftr-443	890	4	736(a	736(a	PROPN
ftr-443	890	5	)	)	PUNCT
ftr-443	890	6	payments	payment	NOUN
ftr-443	890	7	,	,	PUNCT
ftr-443	890	8	which	which	PRON
ftr-443	890	9	are	be	AUX
ftr-443	890	10	treated	treat	VERB
ftr-443	890	11	as	as	ADP
ftr-443	890	12	either	either	CCONJ
ftr-443	890	13	a	a	DET
ftr-443	890	14	distributive	distributive	ADJ
ftr-443	890	15	share	share	NOUN
ftr-443	890	16	of	of	ADP
ftr-443	890	17	llc	llc	PROPN
ftr-443	890	18	income	income	NOUN
ftr-443	890	19	or	or	CCONJ
ftr-443	890	20	as	as	ADP
ftr-443	890	21	a	a	DET
ftr-443	890	22	guaranteed	guarantee	VERB
ftr-443	890	23	payment	payment	NOUN
ftr-443	890	24	,	,	PUNCT
ftr-443	890	25	are	be	AUX
ftr-443	890	26	not	not	PART
ftr-443	890	27	subject	subject	ADJ
ftr-443	890	28	to	to	ADP
ftr-443	890	29	the	the	DET
ftr-443	890	30	disproportionate	disproportionate	ADJ
ftr-443	890	31	distribution	distribution	NOUN
ftr-443	890	32	rules	rule	NOUN
ftr-443	890	33	of	of	ADP
ftr-443	890	34	§	§	PROPN
ftr-443	890	35	751(b	751(b	PROPN
ftr-443	890	36	)	)	PUNCT
ftr-443	890	37	.	.	PUNCT
ftr-443	891	1	140	140	NUM
ftr-443	891	2	.	.	PUNCT
ftr-443	891	3	regs	regs	PROPN
ftr-443	891	4	.	.	PUNCT
ftr-443	892	1	§	§	PROPN
ftr-443	892	2	1.736	1.736	NUM
ftr-443	892	3	-	-	PUNCT
ftr-443	892	4	1(a)(1	1(a)(1	NUM
ftr-443	892	5	)	)	PUNCT
ftr-443	892	6	.	.	PUNCT
ftr-443	893	1	ratable	ratable	ADJ
ftr-443	893	2	basis	basis	NOUN
ftr-443	893	3	reporting	reporting	NOUN
ftr-443	893	4	may	may	AUX
ftr-443	893	5	be	be	AUX
ftr-443	893	6	elected	elect	VERB
ftr-443	893	7	.	.	PUNCT
ftr-443	894	1	regs	reg	NOUN
ftr-443	894	2	.	.	PUNCT
ftr-443	895	1	§	§	PROPN
ftr-443	895	2	1.7361(b)(6	1.7361(b)(6	NUM
ftr-443	895	3	)	)	PUNCT
ftr-443	895	4	.	.	PUNCT
ftr-443	896	1	141	141	NUM
ftr-443	896	2	.	.	PUNCT
ftr-443	897	1	but	but	CCONJ
ftr-443	897	2	see	see	VERB
ftr-443	897	3	irc	irc	PROPN
ftr-443	897	4	§	§	PROPN
ftr-443	897	5	341(a	341(a	PROPN
ftr-443	897	6	)	)	PUNCT
ftr-443	897	7	.	.	PUNCT
ftr-443	898	1	under	under	ADP
ftr-443	898	2	the	the	DET
ftr-443	898	3	passive	passive	ADJ
ftr-443	898	4	loss	loss	NOUN
ftr-443	898	5	rules	rule	NOUN
ftr-443	898	6	of	of	ADP
ftr-443	898	7	§	§	PROPN
ftr-443	898	8	469	469	NUM
ftr-443	898	9	,	,	PUNCT
ftr-443	898	10	gain	gain	NOUN
ftr-443	898	11	or	or	CCONJ
ftr-443	898	12	loss	loss	NOUN
ftr-443	898	13	from	from	ADP
ftr-443	898	14	a	a	DET
ftr-443	898	15	sale	sale	NOUN
ftr-443	898	16	of	of	ADP
ftr-443	898	17	s	s	NOUN
ftr-443	898	18	stock	stock	NOUN
ftr-443	898	19	is	be	AUX
ftr-443	898	20	allocated	allocate	VERB
ftr-443	898	21	among	among	ADP
ftr-443	898	22	the	the	DET
ftr-443	898	23	corporation	corporation	NOUN
ftr-443	898	24	's	's	PART
ftr-443	898	25	various	various	ADJ
ftr-443	898	26	activities	activity	NOUN
ftr-443	898	27	as	as	SCONJ
ftr-443	898	28	if	if	SCONJ
ftr-443	898	29	it	it	PRON
ftr-443	898	30	had	have	AUX
ftr-443	898	31	sold	sell	VERB
ftr-443	898	32	all	all	PRON
ftr-443	898	33	of	of	ADP
ftr-443	898	34	its	its	PRON
ftr-443	898	35	assets	asset	NOUN
ftr-443	898	36	.	.	PUNCT
ftr-443	899	1	portfolio	portfolio	NOUN
ftr-443	899	2	assets	asset	NOUN
ftr-443	899	3	of	of	ADP
ftr-443	899	4	the	the	DET
ftr-443	899	5	s	s	PART
ftr-443	899	6	corporation	corporation	NOUN
ftr-443	899	7	are	be	AUX
ftr-443	899	8	treated	treat	VERB
ftr-443	899	9	as	as	ADP
ftr-443	899	10	a	a	DET
ftr-443	899	11	single	single	ADJ
ftr-443	899	12	activity	activity	NOUN
ftr-443	899	13	.	.	PUNCT
ftr-443	900	1	if	if	SCONJ
ftr-443	900	2	the	the	DET
ftr-443	900	3	shareholder	shareholder	NOUN
ftr-443	900	4	's	's	PART
ftr-443	900	5	interest	interest	NOUN
ftr-443	900	6	is	be	AUX
ftr-443	900	7	completely	completely	ADV
ftr-443	900	8	terminated	terminate	VERB
ftr-443	900	9	in	in	ADP
ftr-443	900	10	a	a	DET
ftr-443	900	11	taxable	taxable	ADJ
ftr-443	900	12	event	event	NOUN
ftr-443	900	13	,	,	PUNCT
ftr-443	900	14	all	all	PRON
ftr-443	900	15	prior	prior	ADV
ftr-443	900	16	suspended	suspend	VERB
ftr-443	900	17	passive	passive	ADJ
ftr-443	900	18	activity	activity	NOUN
ftr-443	900	19	losses	loss	NOUN
ftr-443	900	20	,	,	PUNCT
ftr-443	900	21	as	as	ADV
ftr-443	900	22	well	well	ADV
ftr-443	900	23	as	as	ADP
ftr-443	900	24	any	any	DET
ftr-443	900	25	loss	loss	NOUN
ftr-443	900	26	on	on	ADP
ftr-443	900	27	the	the	DET
ftr-443	900	28	disposition	disposition	NOUN
ftr-443	900	29	,	,	PUNCT
ftr-443	900	30	is	be	AUX
ftr-443	900	31	freed	free	VERB
ftr-443	900	32	from	from	ADP
ftr-443	900	33	the	the	DET
ftr-443	900	34	constraints	constraint	NOUN
ftr-443	900	35	of	of	ADP
ftr-443	900	36	§	§	PROPN
ftr-443	900	37	469	469	NUM
ftr-443	900	38	.	.	PROPN
ftr-443	900	39	142	142	NUM
ftr-443	900	40	.	.	PUNCT
ftr-443	901	1	see	see	VERB
ftr-443	901	2	irc	irc	PROPN
ftr-443	901	3	§	§	PROPN
ftr-443	901	4	1377(a)(2	1377(a)(2	NUM
ftr-443	901	5	)	)	PUNCT
ftr-443	901	6	.	.	PUNCT
ftr-443	902	1	also	also	ADV
ftr-443	902	2	,	,	PUNCT
ftr-443	902	3	if	if	SCONJ
ftr-443	902	4	a	a	DET
ftr-443	902	5	shareholder	shareholder	NOUN
ftr-443	902	6	disposes	dispose	VERB
ftr-443	902	7	of	of	ADP
ftr-443	902	8	20	20	NUM
ftr-443	902	9	%	%	NOUN
ftr-443	902	10	or	or	CCONJ
ftr-443	902	11	more	more	ADJ
ftr-443	902	12	of	of	ADP
ftr-443	902	13	the	the	DET
ftr-443	902	14	corporation	corporation	NOUN
ftr-443	902	15	's	's	PART
ftr-443	902	16	stock	stock	NOUN
ftr-443	902	17	during	during	ADP
ftr-443	902	18	a	a	DET
ftr-443	902	19	30	30	NUM
ftr-443	902	20	-	-	PUNCT
ftr-443	902	21	day	day	NOUN
ftr-443	902	22	period	period	NOUN
ftr-443	902	23	,	,	PUNCT
ftr-443	902	24	the	the	DET
ftr-443	902	25	corporation	corporation	NOUN
ftr-443	902	26	may	may	AUX
ftr-443	902	27	elect	elect	VERB
ftr-443	902	28	to	to	PART
ftr-443	902	29	close	close	VERB
ftr-443	902	30	the	the	DET
ftr-443	902	31	books	book	NOUN
ftr-443	902	32	as	as	ADP
ftr-443	902	33	of	of	ADP
ftr-443	902	34	the	the	DET
ftr-443	902	35	date	date	NOUN
ftr-443	902	36	of	of	ADP
ftr-443	902	37	disposition	disposition	NOUN
ftr-443	902	38	for	for	ADP
ftr-443	902	39	allocation	allocation	NOUN
ftr-443	902	40	purposes	purpose	NOUN
ftr-443	902	41	.	.	PUNCT
ftr-443	903	1	regs	regs	PROPN
ftr-443	903	2	.	.	PUNCT
ftr-443	904	1	§	§	PROPN
ftr-443	904	2	1.1368	1.1368	NUM
ftr-443	904	3	-	-	SYM
ftr-443	904	4	1(g)(2	1(g)(2	NUM
ftr-443	904	5	)	)	PUNCT
ftr-443	904	6	.	.	PUNCT
ftr-443	905	1	see	see	VERB
ftr-443	905	2	also	also	ADV
ftr-443	905	3	irc	irc	PROPN
ftr-443	905	4	19991	19991	NUM
ftr-443	905	5	florida	florida	PROPN
ftr-443	905	6	tax	tax	NOUN
ftr-443	905	7	review	review	NOUN
ftr-443	905	8	the	the	DET
ftr-443	905	9	normal	normal	ADJ
ftr-443	905	10	daily	daily	ADJ
ftr-443	905	11	allocation	allocation	NOUN
ftr-443	905	12	of	of	ADP
ftr-443	905	13	tax	tax	NOUN
ftr-443	905	14	items	item	NOUN
ftr-443	905	15	applies	apply	VERB
ftr-443	905	16	,	,	PUNCT
ftr-443	905	17	and	and	CCONJ
ftr-443	905	18	the	the	DET
ftr-443	905	19	selling	sell	VERB
ftr-443	905	20	shareholder	shareholder	NOUN
ftr-443	905	21	is	be	AUX
ftr-443	905	22	allocated	allocate	VERB
ftr-443	905	23	a	a	DET
ftr-443	905	24	pro	pro	ADJ
ftr-443	905	25	rata	rata	ADJ
ftr-443	905	26	share	share	NOUN
ftr-443	905	27	of	of	ADP
ftr-443	905	28	income	income	NOUN
ftr-443	905	29	or	or	CCONJ
ftr-443	905	30	loss	loss	NOUN
ftr-443	905	31	for	for	ADP
ftr-443	905	32	the	the	DET
ftr-443	905	33	entire	entire	ADJ
ftr-443	905	34	year	year	NOUN
ftr-443	905	35	,	,	PUNCT
ftr-443	905	36	based	base	VERB
ftr-443	905	37	on	on	ADP
ftr-443	905	38	the	the	DET
ftr-443	905	39	number	number	NOUN
ftr-443	905	40	of	of	ADP
ftr-443	905	41	days	day	NOUN
ftr-443	905	42	such	such	ADJ
ftr-443	905	43	person	person	NOUN
ftr-443	905	44	owned	own	VERB
ftr-443	905	45	stock	stock	NOUN
ftr-443	905	46	.	.	PUNCT
ftr-443	906	1	s	s	PART
ftr-443	907	1	corporations	corporation	NOUN
ftr-443	907	2	may	may	AUX
ftr-443	907	3	engage	engage	VERB
ftr-443	907	4	in	in	ADP
ftr-443	907	5	tax	tax	NOUN
ftr-443	907	6	-	-	PUNCT
ftr-443	907	7	free	free	ADJ
ftr-443	907	8	reorganizations	reorganization	NOUN
ftr-443	907	9	pursuant	pursuant	VERB
ftr-443	907	10	to	to	ADP
ftr-443	907	11	section	section	NOUN
ftr-443	907	12	368	368	NUM
ftr-443	907	13	.	.	PUNCT
ftr-443	908	1	generally	generally	ADV
ftr-443	908	2	,	,	PUNCT
ftr-443	908	3	s	s	VERB
ftr-443	908	4	shareholders	shareholder	NOUN
ftr-443	908	5	recognize	recognize	VERB
ftr-443	908	6	no	no	DET
ftr-443	908	7	gain	gain	NOUN
ftr-443	908	8	or	or	CCONJ
ftr-443	908	9	loss	loss	NOUN
ftr-443	908	10	on	on	ADP
ftr-443	908	11	stock	stock	NOUN
ftr-443	908	12	exchanges	exchange	NOUN
ftr-443	908	13	pursuant	pursuant	ADJ
ftr-443	908	14	to	to	ADP
ftr-443	908	15	a	a	DET
ftr-443	908	16	plan	plan	NOUN
ftr-443	908	17	of	of	ADP
ftr-443	908	18	reorganization	reorganization	NOUN
ftr-443	908	19	.	.	PUNCT
ftr-443	909	1	'43	'43	NUM
ftr-443	909	2	this	this	PRON
ftr-443	909	3	is	be	AUX
ftr-443	909	4	perhaps	perhaps	ADV
ftr-443	909	5	the	the	DET
ftr-443	909	6	most	most	ADV
ftr-443	909	7	striking	striking	ADJ
ftr-443	909	8	difference	difference	NOUN
ftr-443	909	9	between	between	ADP
ftr-443	909	10	s	s	VERB
ftr-443	909	11	corporations	corporation	NOUN
ftr-443	909	12	and	and	CCONJ
ftr-443	909	13	llcs	llcs	NOUN
ftr-443	909	14	taxed	tax	VERB
ftr-443	909	15	as	as	ADP
ftr-443	909	16	partnerships	partnership	NOUN
ftr-443	909	17	,	,	PUNCT
ftr-443	909	18	which	which	PRON
ftr-443	909	19	can	can	AUX
ftr-443	909	20	not	not	PART
ftr-443	909	21	be	be	AUX
ftr-443	909	22	parties	party	NOUN
ftr-443	909	23	to	to	ADP
ftr-443	909	24	a	a	DET
ftr-443	909	25	reorganization	reorganization	NOUN
ftr-443	909	26	.	.	PUNCT
ftr-443	910	1	b.	b.	PROPN
ftr-443	910	2	limited	limit	VERB
ftr-443	910	3	liability	liability	NOUN
ftr-443	910	4	companies.-gain	companies.-gain	NOUN
ftr-443	910	5	or	or	CCONJ
ftr-443	910	6	loss	loss	NOUN
ftr-443	910	7	on	on	ADP
ftr-443	910	8	a	a	DET
ftr-443	910	9	sale	sale	NOUN
ftr-443	910	10	of	of	ADP
ftr-443	910	11	an	an	DET
ftr-443	910	12	interest	interest	NOUN
ftr-443	910	13	in	in	ADP
ftr-443	910	14	an	an	DET
ftr-443	910	15	llc	llc	NOUN
ftr-443	910	16	is	be	AUX
ftr-443	910	17	usually	usually	ADV
ftr-443	910	18	capital	capital	NOUN
ftr-443	910	19	gain	gain	NOUN
ftr-443	910	20	or	or	CCONJ
ftr-443	910	21	loss	loss	NOUN
ftr-443	910	22	under	under	ADP
ftr-443	910	23	section	section	NOUN
ftr-443	910	24	741	741	NUM
ftr-443	910	25	,	,	PUNCT
ftr-443	910	26	but	but	CCONJ
ftr-443	910	27	if	if	SCONJ
ftr-443	910	28	the	the	DET
ftr-443	910	29	llc	llc	NOUN
ftr-443	910	30	has	have	AUX
ftr-443	910	31	unrealized	unrealize	VERB
ftr-443	910	32	receivables	receivables	NOUN
ftr-443	910	33	or	or	CCONJ
ftr-443	910	34	inventory	inventory	NOUN
ftr-443	910	35	,	,	PUNCT
ftr-443	910	36	a	a	DET
ftr-443	910	37	portion	portion	NOUN
ftr-443	910	38	of	of	ADP
ftr-443	910	39	the	the	DET
ftr-443	910	40	amount	amount	NOUN
ftr-443	910	41	realized	realize	VERB
ftr-443	910	42	in	in	ADP
ftr-443	910	43	the	the	DET
ftr-443	910	44	sale	sale	NOUN
ftr-443	910	45	is	be	AUX
ftr-443	910	46	allocated	allocate	VERB
ftr-443	910	47	to	to	ADP
ftr-443	910	48	the	the	DET
ftr-443	910	49	member	member	NOUN
ftr-443	910	50	's	's	PART
ftr-443	910	51	share	share	NOUN
ftr-443	910	52	of	of	ADP
ftr-443	910	53	these	these	DET
ftr-443	910	54	assets	asset	NOUN
ftr-443	910	55	,	,	PUNCT
ftr-443	910	56	and	and	CCONJ
ftr-443	910	57	this	this	PRON
ftr-443	910	58	is	be	AUX
ftr-443	910	59	treated	treat	VERB
ftr-443	910	60	by	by	ADP
ftr-443	910	61	section	section	NOUN
ftr-443	910	62	751	751	NUM
ftr-443	910	63	as	as	SCONJ
ftr-443	910	64	received	receive	VERB
ftr-443	910	65	on	on	ADP
ftr-443	910	66	a	a	DET
ftr-443	910	67	sale	sale	NOUN
ftr-443	910	68	of	of	ADP
ftr-443	910	69	property	property	NOUN
ftr-443	910	70	that	that	PRON
ftr-443	910	71	is	be	AUX
ftr-443	910	72	not	not	PART
ftr-443	910	73	a	a	DET
ftr-443	910	74	capital	capital	NOUN
ftr-443	910	75	asset	asset	NOUN
ftr-443	910	76	.	.	PUNCT
ftr-443	911	1	the	the	DET
ftr-443	911	2	amount	amount	NOUN
ftr-443	911	3	realized	realize	VERB
ftr-443	911	4	on	on	ADP
ftr-443	911	5	the	the	DET
ftr-443	911	6	sale	sale	NOUN
ftr-443	911	7	includes	include	VERB
ftr-443	911	8	the	the	DET
ftr-443	911	9	cash	cash	NOUN
ftr-443	911	10	and	and	CCONJ
ftr-443	911	11	the	the	DET
ftr-443	911	12	value	value	NOUN
ftr-443	911	13	of	of	ADP
ftr-443	911	14	other	other	ADJ
ftr-443	911	15	property	property	NOUN
ftr-443	911	16	received	receive	VERB
ftr-443	911	17	and	and	CCONJ
ftr-443	911	18	the	the	DET
ftr-443	911	19	selling	sell	VERB
ftr-443	911	20	member	member	NOUN
ftr-443	911	21	's	's	PART
ftr-443	911	22	share	share	NOUN
ftr-443	911	23	of	of	ADP
ftr-443	911	24	llc	llc	PROPN
ftr-443	911	25	liabilities.144	liabilities.144	PROPN
ftr-443	911	26	the	the	DET
ftr-443	911	27	basis	basis	NOUN
ftr-443	911	28	of	of	ADP
ftr-443	911	29	the	the	DET
ftr-443	911	30	interest	interest	NOUN
ftr-443	911	31	sold	sell	VERB
ftr-443	911	32	is	be	AUX
ftr-443	911	33	adjusted	adjust	VERB
ftr-443	911	34	for	for	ADP
ftr-443	911	35	the	the	DET
ftr-443	911	36	member	member	NOUN
ftr-443	911	37	's	's	PART
ftr-443	911	38	distributive	distributive	ADJ
ftr-443	911	39	share	share	NOUN
ftr-443	911	40	of	of	ADP
ftr-443	911	41	the	the	DET
ftr-443	911	42	llc	llc	NOUN
ftr-443	911	43	's	's	PART
ftr-443	911	44	profit	profit	NOUN
ftr-443	911	45	or	or	CCONJ
ftr-443	911	46	loss	loss	NOUN
ftr-443	911	47	for	for	ADP
ftr-443	911	48	the	the	DET
ftr-443	911	49	year	year	NOUN
ftr-443	911	50	of	of	ADP
ftr-443	911	51	sale.4	sale.4	ADJ
ftr-443	911	52	5	5	NUM
ftr-443	911	53	if	if	SCONJ
ftr-443	911	54	the	the	DET
ftr-443	911	55	member	member	NOUN
ftr-443	911	56	's	's	PART
ftr-443	911	57	sale	sale	NOUN
ftr-443	911	58	is	be	AUX
ftr-443	911	59	of	of	ADP
ftr-443	911	60	his	his	PRON
ftr-443	911	61	or	or	CCONJ
ftr-443	911	62	her	her	PRON
ftr-443	911	63	entire	entire	ADJ
ftr-443	911	64	interest	interest	NOUN
ftr-443	911	65	,	,	PUNCT
ftr-443	911	66	the	the	DET
ftr-443	911	67	llc	llc	PROPN
ftr-443	911	68	's	's	PART
ftr-443	911	69	year	year	NOUN
ftr-443	911	70	closes	close	VERB
ftr-443	911	71	on	on	ADP
ftr-443	911	72	the	the	DET
ftr-443	911	73	date	date	NOUN
ftr-443	911	74	of	of	ADP
ftr-443	911	75	sale	sale	NOUN
ftr-443	911	76	.	.	PUNCT
ftr-443	912	1	46	46	NUM
ftr-443	912	2	installment	installment	NOUN
ftr-443	912	3	sale	sale	NOUN
ftr-443	912	4	reporting	reporting	NOUN
ftr-443	912	5	is	be	AUX
ftr-443	912	6	not	not	PART
ftr-443	912	7	available	available	ADJ
ftr-443	912	8	to	to	ADP
ftr-443	912	9	the	the	DET
ftr-443	912	10	extent	extent	NOUN
ftr-443	912	11	of	of	ADP
ftr-443	912	12	the	the	DET
ftr-443	912	13	selling	sell	VERB
ftr-443	912	14	member	member	NOUN
ftr-443	912	15	's	's	PART
ftr-443	912	16	share	share	NOUN
ftr-443	912	17	of	of	ADP
ftr-443	912	18	llc	llc	PROPN
ftr-443	912	19	assets	asset	NOUN
ftr-443	912	20	that	that	PRON
ftr-443	912	21	are	be	AUX
ftr-443	912	22	not	not	PART
ftr-443	912	23	eligible	eligible	ADJ
ftr-443	912	24	for	for	ADP
ftr-443	912	25	installment	installment	NOUN
ftr-443	912	26	sale	sale	NOUN
ftr-443	912	27	reporting	reporting	NOUN
ftr-443	912	28	.	.	PUNCT
ftr-443	913	1	47	47	NUM
ftr-443	913	2	for	for	ADP
ftr-443	913	3	example	example	NOUN
ftr-443	913	4	,	,	PUNCT
ftr-443	913	5	installment	installment	ADJ
ftr-443	913	6	reporting	reporting	NOUN
ftr-443	913	7	is	be	AUX
ftr-443	913	8	unavailable	unavailable	ADJ
ftr-443	913	9	for	for	ADP
ftr-443	913	10	the	the	DET
ftr-443	913	11	portion	portion	NOUN
ftr-443	913	12	of	of	ADP
ftr-443	913	13	the	the	DET
ftr-443	913	14	amount	amount	NOUN
ftr-443	913	15	realized	realize	VERB
ftr-443	913	16	that	that	PRON
ftr-443	913	17	is	be	AUX
ftr-443	913	18	attributable	attributable	ADJ
ftr-443	913	19	to	to	PART
ftr-443	913	20	recapture	recapture	VERB
ftr-443	913	21	amounts	amount	NOUN
ftr-443	913	22	under	under	ADP
ftr-443	913	23	section	section	NOUN
ftr-443	913	24	1245	1245	NUM
ftr-443	913	25	or	or	CCONJ
ftr-443	913	26	section	section	NOUN
ftr-443	913	27	1250	1250	NUM
ftr-443	913	28	.	.	PUNCT
ftr-443	914	1	the	the	DET
ftr-443	914	2	purchaser	purchaser	NOUN
ftr-443	914	3	of	of	ADP
ftr-443	914	4	an	an	DET
ftr-443	914	5	llc	llc	NOUN
ftr-443	914	6	interest	interest	NOUN
ftr-443	914	7	has	have	VERB
ftr-443	914	8	an	an	DET
ftr-443	914	9	initial	initial	ADJ
ftr-443	914	10	basis	basis	NOUN
ftr-443	914	11	for	for	ADP
ftr-443	914	12	the	the	DET
ftr-443	914	13	interest	interest	NOUN
ftr-443	914	14	equal	equal	ADJ
ftr-443	914	15	to	to	ADP
ftr-443	914	16	the	the	DET
ftr-443	914	17	sum	sum	NOUN
ftr-443	914	18	of	of	ADP
ftr-443	914	19	cost	cost	NOUN
ftr-443	914	20	and	and	CCONJ
ftr-443	914	21	an	an	DET
ftr-443	914	22	allocable	allocable	ADJ
ftr-443	914	23	share	share	NOUN
ftr-443	914	24	of	of	ADP
ftr-443	914	25	llc	llc	PROPN
ftr-443	914	26	liabilities	liability	NOUN
ftr-443	914	27	.	.	PUNCT
ftr-443	915	1	following	follow	VERB
ftr-443	915	2	a	a	DET
ftr-443	915	3	sale	sale	NOUN
ftr-443	915	4	of	of	ADP
ftr-443	915	5	an	an	DET
ftr-443	915	6	interest	interest	NOUN
ftr-443	915	7	or	or	CCONJ
ftr-443	915	8	a	a	DET
ftr-443	915	9	transfer	transfer	NOUN
ftr-443	915	10	at	at	ADP
ftr-443	915	11	death	death	NOUN
ftr-443	915	12	,	,	PUNCT
ftr-443	915	13	an	an	DET
ftr-443	915	14	llc	llc	NOUN
ftr-443	915	15	,	,	PUNCT
ftr-443	915	16	unlike	unlike	ADP
ftr-443	915	17	an	an	DET
ftr-443	915	18	s	s	NOUN
ftr-443	915	19	corporation	corporation	NOUN
ftr-443	915	20	,	,	PUNCT
ftr-443	915	21	may	may	AUX
ftr-443	915	22	,	,	PUNCT
ftr-443	915	23	under	under	ADP
ftr-443	915	24	section	section	NOUN
ftr-443	915	25	743(a	743(a	NUM
ftr-443	915	26	)	)	PUNCT
ftr-443	915	27	,	,	PUNCT
ftr-443	915	28	adjust	adjust	VERB
ftr-443	915	29	the	the	DET
ftr-443	915	30	inside	inside	ADJ
ftr-443	915	31	basis	basis	NOUN
ftr-443	915	32	of	of	ADP
ftr-443	915	33	its	its	PRON
ftr-443	915	34	assets	asset	NOUN
ftr-443	915	35	to	to	PART
ftr-443	915	36	reflect	reflect	VERB
ftr-443	915	37	the	the	DET
ftr-443	915	38	outside	outside	ADJ
ftr-443	915	39	basis	basis	NOUN
ftr-443	915	40	of	of	ADP
ftr-443	915	41	the	the	DET
ftr-443	915	42	new	new	ADJ
ftr-443	915	43	holder	holder	NOUN
ftr-443	915	44	of	of	ADP
ftr-443	915	45	the	the	DET
ftr-443	915	46	interest	interest	NOUN
ftr-443	915	47	.	.	PUNCT
ftr-443	916	1	48	48	NUM
ftr-443	916	2	these	these	DET
ftr-443	916	3	adjustments	adjustment	NOUN
ftr-443	916	4	provide	provide	VERB
ftr-443	916	5	substantial	substantial	ADJ
ftr-443	916	6	estate	estate	NOUN
ftr-443	916	7	planning	planning	NOUN
ftr-443	916	8	benefits	benefit	NOUN
ftr-443	916	9	for	for	ADP
ftr-443	916	10	family	family	NOUN
ftr-443	916	11	businesses	business	NOUN
ftr-443	916	12	operated	operate	VERB
ftr-443	916	13	as	as	ADP
ftr-443	916	14	llcs	llcs	NOUN
ftr-443	916	15	.	.	PUNCT
ftr-443	917	1	§	§	PROPN
ftr-443	917	2	1362(e)(6	1362(e)(6	NUM
ftr-443	917	3	)	)	PUNCT
ftr-443	917	4	(	(	PUNCT
ftr-443	917	5	automatic	automatic	ADJ
ftr-443	917	6	termination	termination	NOUN
ftr-443	917	7	of	of	ADP
ftr-443	917	8	books	book	NOUN
ftr-443	917	9	where	where	SCONJ
ftr-443	917	10	sale	sale	NOUN
ftr-443	917	11	of	of	ADP
ftr-443	917	12	50	50	NUM
ftr-443	917	13	%	%	NOUN
ftr-443	917	14	or	or	CCONJ
ftr-443	917	15	more	more	ADJ
ftr-443	917	16	of	of	ADP
ftr-443	917	17	stock	stock	NOUN
ftr-443	917	18	occurs	occur	VERB
ftr-443	917	19	in	in	ADP
ftr-443	917	20	s	s	NOUN
ftr-443	917	21	termination	termination	NOUN
ftr-443	917	22	year	year	NOUN
ftr-443	917	23	)	)	PUNCT
ftr-443	917	24	.	.	PUNCT
ftr-443	918	1	143	143	X
ftr-443	918	2	.	.	PUNCT
ftr-443	918	3	see	see	VERB
ftr-443	918	4	irc	irc	PROPN
ftr-443	918	5	§	§	PROPN
ftr-443	918	6	354(a)(1	354(a)(1	NOUN
ftr-443	918	7	)	)	PUNCT
ftr-443	918	8	.	.	PUNCT
ftr-443	919	1	144	144	NUM
ftr-443	919	2	.	.	PUNCT
ftr-443	919	3	see	see	VERB
ftr-443	919	4	irc	irc	PROPN
ftr-443	919	5	§	§	PROPN
ftr-443	919	6	752(d	752(d	PROPN
ftr-443	919	7	)	)	PUNCT
ftr-443	919	8	.	.	PUNCT
ftr-443	920	1	145	145	NUM
ftr-443	920	2	.	.	PUNCT
ftr-443	921	1	see	see	VERB
ftr-443	921	2	regs	reg	NOUN
ftr-443	921	3	.	.	PUNCT
ftr-443	922	1	§	§	PROPN
ftr-443	922	2	1.705	1.705	NUM
ftr-443	922	3	-	-	PUNCT
ftr-443	922	4	1(a)(1	1(a)(1	NUM
ftr-443	922	5	)	)	PUNCT
ftr-443	922	6	.	.	PUNCT
ftr-443	923	1	146	146	NUM
ftr-443	923	2	.	.	PUNCT
ftr-443	923	3	see	see	VERB
ftr-443	923	4	irc	irc	PROPN
ftr-443	923	5	§	§	PROPN
ftr-443	923	6	706(c)(2)(a	706(c)(2)(a	PROPN
ftr-443	923	7	)	)	PUNCT
ftr-443	923	8	.	.	PUNCT
ftr-443	924	1	if	if	SCONJ
ftr-443	924	2	the	the	DET
ftr-443	924	3	member	member	NOUN
ftr-443	924	4	sells	sell	VERB
ftr-443	924	5	less	less	ADJ
ftr-443	924	6	than	than	ADP
ftr-443	924	7	the	the	DET
ftr-443	924	8	entire	entire	ADJ
ftr-443	924	9	interest	interest	NOUN
ftr-443	924	10	,	,	PUNCT
ftr-443	924	11	the	the	DET
ftr-443	924	12	varying	vary	VERB
ftr-443	924	13	interest	interest	NOUN
ftr-443	924	14	rule	rule	NOUN
ftr-443	924	15	of	of	ADP
ftr-443	924	16	§	§	PROPN
ftr-443	924	17	706(c)(2)(b	706(c)(2)(b	PROPN
ftr-443	924	18	)	)	PUNCT
ftr-443	924	19	applies	apply	VERB
ftr-443	924	20	.	.	PUNCT
ftr-443	925	1	147	147	NUM
ftr-443	925	2	.	.	PUNCT
ftr-443	925	3	see	see	VERB
ftr-443	925	4	irc	irc	PROPN
ftr-443	925	5	§	§	PROPN
ftr-443	925	6	453(i	453(i	PROPN
ftr-443	925	7	)	)	PUNCT
ftr-443	925	8	.	.	PUNCT
ftr-443	926	1	148	148	NUM
ftr-443	926	2	.	.	PUNCT
ftr-443	927	1	the	the	DET
ftr-443	927	2	adjustment	adjustment	NOUN
ftr-443	927	3	may	may	AUX
ftr-443	927	4	be	be	AUX
ftr-443	927	5	made	make	VERB
ftr-443	927	6	only	only	ADV
ftr-443	927	7	if	if	SCONJ
ftr-443	927	8	the	the	DET
ftr-443	927	9	partnership	partnership	NOUN
ftr-443	927	10	makes	make	VERB
ftr-443	927	11	an	an	DET
ftr-443	927	12	election	election	NOUN
ftr-443	927	13	under	under	ADP
ftr-443	927	14	§	§	PROPN
ftr-443	927	15	754	754	NUM
ftr-443	927	16	,	,	PUNCT
ftr-443	927	17	which	which	PRON
ftr-443	927	18	has	have	VERB
ftr-443	927	19	future	future	ADJ
ftr-443	927	20	consequences	consequence	NOUN
ftr-443	927	21	for	for	ADP
ftr-443	927	22	the	the	DET
ftr-443	927	23	llc	llc	PROPN
ftr-443	927	24	and	and	CCONJ
ftr-443	927	25	its	its	PRON
ftr-443	927	26	members	member	NOUN
ftr-443	927	27	that	that	PRON
ftr-443	927	28	should	should	AUX
ftr-443	927	29	be	be	AUX
ftr-443	927	30	considered	consider	VERB
ftr-443	927	31	before	before	SCONJ
ftr-443	927	32	the	the	DET
ftr-443	927	33	election	election	NOUN
ftr-443	927	34	is	be	AUX
ftr-443	927	35	made	make	VERB
ftr-443	927	36	.	.	PUNCT
ftr-443	928	1	[	[	X
ftr-443	928	2	vol	vol	NOUN
ftr-443	928	3	4.3	4.3	NUM
ftr-443	928	4	benefits	benefit	NOUN
ftr-443	928	5	and	and	CCONJ
ftr-443	928	6	burdens	burden	NOUN
ftr-443	928	7	of	of	ADP
ftr-443	928	8	subchapter	subchapter	NOUN
ftr-443	928	9	s	s	VERB
ftr-443	928	10	an	an	DET
ftr-443	928	11	llc	llc	NOUN
ftr-443	928	12	,	,	PUNCT
ftr-443	928	13	unlike	unlike	ADP
ftr-443	928	14	an	an	DET
ftr-443	928	15	s	s	NOUN
ftr-443	928	16	corporation	corporation	NOUN
ftr-443	928	17	,	,	PUNCT
ftr-443	928	18	may	may	AUX
ftr-443	928	19	not	not	PART
ftr-443	928	20	be	be	AUX
ftr-443	928	21	a	a	DET
ftr-443	928	22	party	party	NOUN
ftr-443	928	23	to	to	ADP
ftr-443	928	24	a	a	DET
ftr-443	928	25	tax	tax	NOUN
ftr-443	928	26	-	-	PUNCT
ftr-443	928	27	free	free	ADJ
ftr-443	928	28	reorganization	reorganization	NOUN
ftr-443	928	29	.	.	PUNCT
ftr-443	929	1	49	49	NUM
ftr-443	929	2	however	however	ADV
ftr-443	929	3	,	,	PUNCT
ftr-443	929	4	some	some	DET
ftr-443	929	5	partnership	partnership	NOUN
ftr-443	929	6	conversions	conversion	NOUN
ftr-443	929	7	are	be	AUX
ftr-443	929	8	not	not	PART
ftr-443	929	9	taxable	taxable	ADJ
ftr-443	929	10	.	.	PUNCT
ftr-443	929	11	'	'	PUNCT
ftr-443	930	1	0	0	NUM
ftr-443	930	2	m.	m.	NOUN
ftr-443	930	3	where	where	SCONJ
ftr-443	930	4	art	art	NOUN
ftr-443	930	5	thou	thou	ADJ
ftr-443	930	6	subchapter	subchapter	NOUN
ftr-443	930	7	s	s	PART
ftr-443	930	8	?	?	PUNCT
ftr-443	931	1	the	the	DET
ftr-443	931	2	preceding	precede	VERB
ftr-443	931	3	comparison	comparison	NOUN
ftr-443	931	4	reveals	reveal	VERB
ftr-443	931	5	several	several	ADJ
ftr-443	931	6	advantages	advantage	NOUN
ftr-443	931	7	of	of	ADP
ftr-443	931	8	subchapter	subchapter	NOUN
ftr-443	931	9	k	k	PROPN
ftr-443	931	10	over	over	ADP
ftr-443	931	11	subchapter	subchapter	NOUN
ftr-443	931	12	s	s	PART
ftr-443	931	13	,	,	PUNCT
ftr-443	931	14	and	and	CCONJ
ftr-443	931	15	some	some	PRON
ftr-443	931	16	that	that	PRON
ftr-443	931	17	s	s	VERB
ftr-443	931	18	has	have	VERB
ftr-443	931	19	over	over	ADP
ftr-443	931	20	k	k	NOUN
ftr-443	931	21	,	,	PUNCT
ftr-443	931	22	but	but	CCONJ
ftr-443	931	23	the	the	DET
ftr-443	931	24	overall	overall	ADJ
ftr-443	931	25	advantage	advantage	NOUN
ftr-443	931	26	lies	lie	VERB
ftr-443	931	27	with	with	ADP
ftr-443	931	28	subchapter	subchapter	NOUN
ftr-443	931	29	k	k	NOUN
ftr-443	931	30	,	,	PUNCT
ftr-443	931	31	especially	especially	ADV
ftr-443	931	32	after	after	ADP
ftr-443	931	33	the	the	DET
ftr-443	931	34	states	state	NOUN
ftr-443	931	35	'	'	PART
ftr-443	931	36	widespread	widespread	ADJ
ftr-443	931	37	adoption	adoption	NOUN
ftr-443	931	38	of	of	ADP
ftr-443	931	39	llc	llc	PROPN
ftr-443	931	40	legislation	legislation	NOUN
ftr-443	931	41	and	and	CCONJ
ftr-443	931	42	the	the	DET
ftr-443	931	43	treasury	treasury	NOUN
ftr-443	931	44	's	's	PART
ftr-443	931	45	issuance	issuance	NOUN
ftr-443	931	46	of	of	ADP
ftr-443	931	47	the	the	DET
ftr-443	931	48	ctb	ctb	PROPN
ftr-443	931	49	regulations	regulation	NOUN
ftr-443	931	50	.	.	PUNCT
ftr-443	932	1	the	the	DET
ftr-443	932	2	question	question	NOUN
ftr-443	932	3	that	that	PRON
ftr-443	932	4	must	must	AUX
ftr-443	932	5	be	be	AUX
ftr-443	932	6	asked	ask	VERB
ftr-443	932	7	,	,	PUNCT
ftr-443	932	8	especially	especially	ADV
ftr-443	932	9	by	by	ADP
ftr-443	932	10	one	one	NUM
ftr-443	932	11	who	who	PRON
ftr-443	932	12	has	have	AUX
ftr-443	932	13	lived	live	VERB
ftr-443	932	14	within	within	ADP
ftr-443	932	15	the	the	DET
ftr-443	932	16	hybrid	hybrid	ADJ
ftr-443	932	17	world	world	NOUN
ftr-443	932	18	of	of	ADP
ftr-443	932	19	subchapter	subchapter	NOUN
ftr-443	932	20	s	s	NOUN
ftr-443	932	21	for	for	ADP
ftr-443	932	22	many	many	ADJ
ftr-443	932	23	years	year	NOUN
ftr-443	932	24	,	,	PUNCT
ftr-443	932	25	both	both	PRON
ftr-443	932	26	as	as	ADP
ftr-443	932	27	a	a	DET
ftr-443	932	28	tax	tax	NOUN
ftr-443	932	29	practitioner	practitioner	NOUN
ftr-443	932	30	and	and	CCONJ
ftr-443	932	31	commentator	commentator	NOUN
ftr-443	932	32	,	,	PUNCT
ftr-443	932	33	is	be	AUX
ftr-443	932	34	:	:	PUNCT
ftr-443	932	35	why	why	SCONJ
ftr-443	932	36	has	have	AUX
ftr-443	932	37	n't	not	PART
ftr-443	932	38	congress	congress	PROPN
ftr-443	932	39	placed	place	VERB
ftr-443	932	40	subchapter	subchapter	NOUN
ftr-443	932	41	s	s	NOUN
ftr-443	932	42	on	on	ADP
ftr-443	932	43	a	a	DET
ftr-443	932	44	level	level	ADJ
ftr-443	932	45	playing	playing	NOUN
ftr-443	932	46	field	field	NOUN
ftr-443	932	47	with	with	ADP
ftr-443	932	48	its	its	PRON
ftr-443	932	49	passthrough	passthrough	PROPN
ftr-443	932	50	siblings?'5	siblings?'5	PROPN
ftr-443	932	51	'	'	PART
ftr-443	932	52	several	several	ADJ
ftr-443	932	53	reasons	reason	NOUN
ftr-443	932	54	for	for	ADP
ftr-443	932	55	this	this	DET
ftr-443	932	56	inequity	inequity	NOUN
ftr-443	932	57	are	be	AUX
ftr-443	932	58	plausible	plausible	ADJ
ftr-443	932	59	.	.	PUNCT
ftr-443	933	1	the	the	DET
ftr-443	933	2	continuing	continue	VERB
ftr-443	933	3	restrictions	restriction	NOUN
ftr-443	933	4	on	on	ADP
ftr-443	933	5	subchapter	subchapter	NOUN
ftr-443	933	6	s	s	PART
ftr-443	933	7	may	may	AUX
ftr-443	933	8	reflect	reflect	VERB
ftr-443	933	9	an	an	DET
ftr-443	933	10	anxious	anxious	ADJ
ftr-443	933	11	preoccupation	preoccupation	NOUN
ftr-443	933	12	by	by	ADP
ftr-443	933	13	the	the	DET
ftr-443	933	14	treasury	treasury	NOUN
ftr-443	933	15	over	over	ADP
ftr-443	933	16	the	the	DET
ftr-443	933	17	exodus	exodus	NOUN
ftr-443	933	18	from	from	ADP
ftr-443	933	19	subchapter	subchapter	NOUN
ftr-443	933	20	c	c	PROPN
ftr-443	933	21	to	to	PART
ftr-443	933	22	subchapter	subchapter	VERB
ftr-443	933	23	s	s	PRON
ftr-443	933	24	that	that	PRON
ftr-443	933	25	occurred	occur	VERB
ftr-443	933	26	in	in	ADP
ftr-443	933	27	response	response	NOUN
ftr-443	933	28	to	to	ADP
ftr-443	933	29	the	the	DET
ftr-443	933	30	1986	1986	NUM
ftr-443	933	31	repeal	repeal	NOUN
ftr-443	933	32	of	of	ADP
ftr-443	933	33	the	the	DET
ftr-443	933	34	general	general	ADJ
ftr-443	933	35	utilities	utility	NOUN
ftr-443	933	36	doctrine.5	doctrine.5	VERB
ftr-443	933	37	2	2	NUM
ftr-443	933	38	the	the	DET
ftr-443	933	39	exodus	exodus	NOUN
ftr-443	933	40	from	from	ADP
ftr-443	933	41	c	c	PROPN
ftr-443	933	42	to	to	PART
ftr-443	933	43	s	s	AUX
ftr-443	933	44	directly	directly	ADV
ftr-443	933	45	impacted	impact	VERB
ftr-443	933	46	the	the	DET
ftr-443	933	47	balanced	balanced	ADJ
ftr-443	933	48	budget	budget	NOUN
ftr-443	933	49	debate	debate	NOUN
ftr-443	933	50	since	since	SCONJ
ftr-443	933	51	any	any	DET
ftr-443	933	52	reform	reform	NOUN
ftr-443	933	53	or	or	CCONJ
ftr-443	933	54	liberalization	liberalization	NOUN
ftr-443	933	55	of	of	ADP
ftr-443	933	56	subchapter	subchapter	NOUN
ftr-443	933	57	s	s	PART
ftr-443	933	58	,	,	PUNCT
ftr-443	933	59	regardless	regardless	ADV
ftr-443	933	60	of	of	ADP
ftr-443	933	61	its	its	PRON
ftr-443	933	62	merit	merit	NOUN
ftr-443	933	63	,	,	PUNCT
ftr-443	933	64	would	would	AUX
ftr-443	933	65	be	be	AUX
ftr-443	933	66	scored	score	VERB
ftr-443	933	67	by	by	ADP
ftr-443	933	68	the	the	DET
ftr-443	933	69	joint	joint	ADJ
ftr-443	933	70	committee	committee	NOUN
ftr-443	933	71	on	on	ADP
ftr-443	933	72	taxation	taxation	NOUN
ftr-443	933	73	as	as	ADP
ftr-443	933	74	losing	lose	VERB
ftr-443	933	75	revenue	revenue	NOUN
ftr-443	933	76	.	.	PUNCT
ftr-443	933	77	'	'	PUNCT
ftr-443	934	1	given	give	VERB
ftr-443	934	2	that	that	SCONJ
ftr-443	934	3	the	the	DET
ftr-443	934	4	treasury	treasury	NOUN
ftr-443	934	5	has	have	AUX
ftr-443	934	6	arguably	arguably	ADV
ftr-443	934	7	given	give	VERB
ftr-443	934	8	the	the	DET
ftr-443	934	9	house	house	NOUN
ftr-443	934	10	away	away	ADV
ftr-443	934	11	with	with	ADP
ftr-443	934	12	the	the	DET
ftr-443	934	13	ctb	ctb	NOUN
ftr-443	934	14	regulations	regulation	NOUN
ftr-443	934	15	,	,	PUNCT
ftr-443	934	16	it	it	PRON
ftr-443	934	17	is	be	AUX
ftr-443	934	18	paradoxical	paradoxical	ADJ
ftr-443	934	19	that	that	SCONJ
ftr-443	934	20	statutory	statutory	ADJ
ftr-443	934	21	liberalizations	liberalization	NOUN
ftr-443	934	22	of	of	ADP
ftr-443	934	23	subchapter	subchapter	NOUN
ftr-443	934	24	s	s	NOUN
ftr-443	934	25	are	be	AUX
ftr-443	934	26	tightly	tightly	ADV
ftr-443	934	27	restricted	restrict	VERB
ftr-443	934	28	by	by	ADP
ftr-443	934	29	budget	budget	NOUN
ftr-443	934	30	considerations	consideration	NOUN
ftr-443	934	31	.	.	PUNCT
ftr-443	935	1	this	this	DET
ftr-443	935	2	discrimination	discrimination	NOUN
ftr-443	935	3	against	against	ADP
ftr-443	935	4	s	s	PART
ftr-443	935	5	corporations	corporation	NOUN
ftr-443	935	6	was	be	AUX
ftr-443	935	7	most	most	ADV
ftr-443	935	8	noticeable	noticeable	ADJ
ftr-443	935	9	during	during	ADP
ftr-443	935	10	the	the	DET
ftr-443	935	11	process	process	NOUN
ftr-443	935	12	which	which	PRON
ftr-443	935	13	led	lead	VERB
ftr-443	935	14	to	to	ADP
ftr-443	935	15	congress	congress	PROPN
ftr-443	935	16	'	'	PART
ftr-443	935	17	enactment	enactment	NOUN
ftr-443	935	18	of	of	ADP
ftr-443	935	19	17	17	NUM
ftr-443	935	20	"	"	PUNCT
ftr-443	935	21	reforms	reform	NOUN
ftr-443	935	22	"	"	PUNCT
ftr-443	935	23	to	to	PART
ftr-443	935	24	subchapter	subchapter	VERB
ftr-443	935	25	s	s	PROPN
ftr-443	935	26	in	in	ADP
ftr-443	935	27	1996.'149	1996.'149	PROPN
ftr-443	935	28	.	.	PUNCT
ftr-443	936	1	see	see	VERB
ftr-443	936	2	irc	irc	PROPN
ftr-443	936	3	§	§	PROPN
ftr-443	936	4	1031(a)(2)(d	1031(a)(2)(d	NUM
ftr-443	936	5	)	)	PUNCT
ftr-443	936	6	(	(	PUNCT
ftr-443	936	7	nonrecognition	nonrecognition	NOUN
ftr-443	936	8	rule	rule	NOUN
ftr-443	936	9	of	of	ADP
ftr-443	936	10	§	§	PROPN
ftr-443	936	11	1031	1031	NUM
ftr-443	936	12	does	do	AUX
ftr-443	936	13	not	not	PART
ftr-443	936	14	apply	apply	VERB
ftr-443	936	15	to	to	ADP
ftr-443	936	16	exchange	exchange	NOUN
ftr-443	936	17	of	of	ADP
ftr-443	936	18	partnership	partnership	NOUN
ftr-443	936	19	interest	interest	NOUN
ftr-443	936	20	)	)	PUNCT
ftr-443	936	21	.	.	PUNCT
ftr-443	937	1	150	150	NUM
ftr-443	937	2	.	.	PUNCT
ftr-443	938	1	see	see	VERB
ftr-443	938	2	rev	rev	PROPN
ftr-443	938	3	.	.	PROPN
ftr-443	938	4	rul	rul	NOUN
ftr-443	938	5	.	.	PUNCT
ftr-443	939	1	84	84	NUM
ftr-443	939	2	-	-	SYM
ftr-443	939	3	52	52	NUM
ftr-443	939	4	,	,	PUNCT
ftr-443	939	5	1984	1984	NUM
ftr-443	939	6	-	-	SYM
ftr-443	939	7	1	1	NUM
ftr-443	939	8	c.b	c.b	PROPN
ftr-443	939	9	.	.	PROPN
ftr-443	939	10	157	157	NUM
ftr-443	939	11	.	.	X
ftr-443	939	12	151	151	NUM
ftr-443	939	13	.	.	PUNCT
ftr-443	940	1	see	see	VERB
ftr-443	940	2	generally	generally	ADV
ftr-443	940	3	james	james	PROPN
ftr-443	940	4	s.	s.	PROPN
ftr-443	940	5	eustice	eustice	PROPN
ftr-443	940	6	,	,	PUNCT
ftr-443	940	7	subchapter	subchapter	NOUN
ftr-443	940	8	s	s	PART
ftr-443	940	9	corporations	corporation	NOUN
ftr-443	940	10	and	and	CCONJ
ftr-443	940	11	partnerships	partnership	NOUN
ftr-443	940	12	:	:	PUNCT
ftr-443	940	13	a	a	DET
ftr-443	940	14	search	search	NOUN
ftr-443	940	15	for	for	ADP
ftr-443	940	16	the	the	DET
ftr-443	940	17	passthrough	passthrough	NOUN
ftr-443	940	18	paradigm	paradigm	NOUN
ftr-443	940	19	(	(	PUNCT
ftr-443	940	20	some	some	DET
ftr-443	940	21	preliminary	preliminary	ADJ
ftr-443	940	22	proposals	proposal	NOUN
ftr-443	940	23	)	)	PUNCT
ftr-443	940	24	,	,	PUNCT
ftr-443	940	25	39	39	NUM
ftr-443	940	26	tax	tax	NOUN
ftr-443	940	27	l	l	NOUN
ftr-443	940	28	rev	rev	VERB
ftr-443	940	29	.	.	PROPN
ftr-443	940	30	345	345	NUM
ftr-443	940	31	(	(	PUNCT
ftr-443	940	32	1984	1984	NUM
ftr-443	940	33	)	)	PUNCT
ftr-443	940	34	.	.	PUNCT
ftr-443	941	1	152	152	NUM
ftr-443	941	2	.	.	PUNCT
ftr-443	942	1	the	the	DET
ftr-443	942	2	decision	decision	NOUN
ftr-443	942	3	in	in	ADP
ftr-443	942	4	general	general	ADJ
ftr-443	942	5	utils	util	NOUN
ftr-443	942	6	.	.	PUNCT
ftr-443	943	1	&	&	CCONJ
ftr-443	943	2	operating	operating	PROPN
ftr-443	943	3	co.	co.	PROPN
ftr-443	943	4	v.	v.	ADP
ftr-443	943	5	helvering	helvere	VERB
ftr-443	943	6	,	,	PUNCT
ftr-443	943	7	296	296	NUM
ftr-443	943	8	u.s	u.s	PROPN
ftr-443	943	9	.	.	PROPN
ftr-443	943	10	200	200	NUM
ftr-443	943	11	(	(	PUNCT
ftr-443	943	12	1935	1935	NUM
ftr-443	943	13	)	)	PUNCT
ftr-443	943	14	,	,	PUNCT
ftr-443	943	15	is	be	AUX
ftr-443	943	16	usually	usually	ADV
ftr-443	943	17	considered	consider	VERB
ftr-443	943	18	the	the	DET
ftr-443	943	19	genesis	genesis	NOUN
ftr-443	943	20	of	of	ADP
ftr-443	943	21	the	the	DET
ftr-443	943	22	nile	nile	NOUN
ftr-443	943	23	that	that	PRON
ftr-443	943	24	a	a	DET
ftr-443	943	25	corporation	corporation	NOUN
ftr-443	943	26	recognized	recognize	VERB
ftr-443	943	27	no	no	DET
ftr-443	943	28	gain	gain	NOUN
ftr-443	943	29	or	or	CCONJ
ftr-443	943	30	loss	loss	NOUN
ftr-443	943	31	on	on	ADP
ftr-443	943	32	distributions	distribution	NOUN
ftr-443	943	33	of	of	ADP
ftr-443	943	34	property	property	NOUN
ftr-443	943	35	to	to	ADP
ftr-443	943	36	its	its	PRON
ftr-443	943	37	shareholders	shareholder	NOUN
ftr-443	943	38	,	,	PUNCT
ftr-443	943	39	including	include	VERB
ftr-443	943	40	distributions	distribution	NOUN
ftr-443	943	41	in	in	ADP
ftr-443	943	42	liquidation	liquidation	NOUN
ftr-443	943	43	.	.	PUNCT
ftr-443	944	1	the	the	DET
ftr-443	944	2	doctrine	doctrine	NOUN
ftr-443	944	3	,	,	PUNCT
ftr-443	944	4	after	after	ADP
ftr-443	944	5	having	having	AUX
ftr-443	944	6	been	be	AUX
ftr-443	944	7	eroded	erode	VERB
ftr-443	944	8	by	by	ADP
ftr-443	944	9	successive	successive	ADJ
ftr-443	944	10	amendments	amendment	NOUN
ftr-443	944	11	to	to	ADP
ftr-443	944	12	§	§	PROPN
ftr-443	944	13	311(b	311(b	PROPN
ftr-443	944	14	)	)	PUNCT
ftr-443	944	15	,	,	PUNCT
ftr-443	944	16	was	be	AUX
ftr-443	944	17	repealed	repeal	VERB
ftr-443	944	18	in	in	ADP
ftr-443	944	19	1986	1986	NUM
ftr-443	944	20	by	by	ADP
ftr-443	944	21	a	a	DET
ftr-443	944	22	further	further	ADJ
ftr-443	944	23	revision	revision	NOUN
ftr-443	944	24	of	of	ADP
ftr-443	944	25	§	§	PROPN
ftr-443	944	26	311(b	311(b	PROPN
ftr-443	944	27	)	)	PUNCT
ftr-443	944	28	and	and	CCONJ
ftr-443	944	29	the	the	DET
ftr-443	944	30	enactment	enactment	NOUN
ftr-443	944	31	of	of	ADP
ftr-443	944	32	the	the	DET
ftr-443	944	33	present	present	ADJ
ftr-443	944	34	§	§	PROPN
ftr-443	944	35	336	336	NUM
ftr-443	944	36	.	.	PUNCT
ftr-443	945	1	see	see	VERB
ftr-443	945	2	irc	irc	PROPN
ftr-443	945	3	§	§	PROPN
ftr-443	945	4	§	§	PROPN
ftr-443	945	5	337(d	337(d	PROPN
ftr-443	945	6	)	)	PUNCT
ftr-443	945	7	(	(	PUNCT
ftr-443	945	8	authorizing	authorize	VERB
ftr-443	945	9	legislative	legislative	ADJ
ftr-443	945	10	regulations	regulation	NOUN
ftr-443	945	11	to	to	PART
ftr-443	945	12	prevent	prevent	VERB
ftr-443	945	13	circumvention	circumvention	NOUN
ftr-443	945	14	of	of	ADP
ftr-443	945	15	§	§	PROPN
ftr-443	945	16	§	§	NOUN
ftr-443	945	17	336	336	NUM
ftr-443	945	18	,	,	PUNCT
ftr-443	945	19	1374	1374	NUM
ftr-443	945	20	):	):	PUNCT
ftr-443	945	21	1374	1374	NUM
ftr-443	945	22	(	(	PUNCT
ftr-443	945	23	built	build	VERB
ftr-443	945	24	-	-	PUNCT
ftr-443	945	25	in	in	ADP
ftr-443	945	26	gains	gain	NOUN
ftr-443	945	27	tax	tax	NOUN
ftr-443	945	28	applicable	applicable	ADJ
ftr-443	945	29	to	to	ADP
ftr-443	945	30	former	former	ADJ
ftr-443	945	31	c	c	NOUN
ftr-443	945	32	corporations	corporation	NOUN
ftr-443	945	33	for	for	ADP
ftr-443	945	34	ten	ten	NUM
ftr-443	945	35	years	year	NOUN
ftr-443	945	36	after	after	SCONJ
ftr-443	945	37	they	they	PRON
ftr-443	945	38	elect	elect	VERB
ftr-443	945	39	s	s	PART
ftr-443	945	40	status	status	NOUN
ftr-443	945	41	)	)	PUNCT
ftr-443	945	42	.	.	PUNCT
ftr-443	946	1	153	153	NUM
ftr-443	946	2	.	.	PUNCT
ftr-443	947	1	the	the	DET
ftr-443	947	2	word	word	NOUN
ftr-443	947	3	"	"	PUNCT
ftr-443	947	4	scored	score	VERB
ftr-443	947	5	"	"	PUNCT
ftr-443	947	6	refers	refer	VERB
ftr-443	947	7	to	to	ADP
ftr-443	947	8	the	the	DET
ftr-443	947	9	revenue	revenue	NOUN
ftr-443	947	10	estimate	estimate	NOUN
ftr-443	947	11	made	make	VERB
ftr-443	947	12	by	by	ADP
ftr-443	947	13	staff	staff	NOUN
ftr-443	947	14	economists	economist	NOUN
ftr-443	947	15	with	with	ADP
ftr-443	947	16	the	the	DET
ftr-443	947	17	joint	joint	ADJ
ftr-443	947	18	committee	committee	NOUN
ftr-443	947	19	on	on	ADP
ftr-443	947	20	taxation	taxation	NOUN
ftr-443	947	21	.	.	PUNCT
ftr-443	948	1	154	154	NUM
ftr-443	948	2	.	.	PUNCT
ftr-443	949	1	the	the	DET
ftr-443	949	2	1996	1996	NUM
ftr-443	949	3	amendments	amendment	NOUN
ftr-443	949	4	were	be	AUX
ftr-443	949	5	enacted	enact	VERB
ftr-443	949	6	by	by	ADP
ftr-443	949	7	the	the	DET
ftr-443	949	8	small	small	ADJ
ftr-443	949	9	business	business	NOUN
ftr-443	949	10	jobs	job	NOUN
ftr-443	949	11	protection	protection	PROPN
ftr-443	949	12	act	act	PROPN
ftr-443	949	13	of	of	ADP
ftr-443	949	14	1996	1996	NUM
ftr-443	949	15	,	,	PUNCT
ftr-443	949	16	pub	pub	NOUN
ftr-443	949	17	.	.	PUNCT
ftr-443	950	1	l.	l.	PROPN
ftr-443	950	2	no	no	INTJ
ftr-443	950	3	.	.	PROPN
ftr-443	951	1	104	104	NUM
ftr-443	951	2	-	-	SYM
ftr-443	951	3	188	188	NUM
ftr-443	951	4	,	,	PUNCT
ftr-443	951	5	§	§	PROPN
ftr-443	951	6	§	§	PROPN
ftr-443	951	7	1301	1301	NUM
ftr-443	951	8	-	-	PUNCT
ftr-443	951	9	1317(b	1317(b	NUM
ftr-443	951	10	)	)	PUNCT
ftr-443	951	11	,	,	PUNCT
ftr-443	951	12	110	110	NUM
ftr-443	951	13	stat	stat	NOUN
ftr-443	951	14	.	.	PUNCT
ftr-443	952	1	1755	1755	NUM
ftr-443	952	2	,	,	PUNCT
ftr-443	952	3	1777	1777	NUM
ftr-443	952	4	-	-	SYM
ftr-443	952	5	87	87	NUM
ftr-443	952	6	(	(	PUNCT
ftr-443	952	7	1996	1996	NUM
ftr-443	952	8	)	)	PUNCT
ftr-443	952	9	.	.	PUNCT
ftr-443	953	1	the	the	DET
ftr-443	953	2	subchapter	subchapter	NOUN
ftr-443	953	3	s	s	PART
ftr-443	953	4	amendments	amendment	NOUN
ftr-443	953	5	originated	originate	VERB
ftr-443	953	6	in	in	ADP
ftr-443	953	7	a	a	DET
ftr-443	953	8	bill	bill	NOUN
ftr-443	953	9	introduced	introduce	VERB
ftr-443	953	10	by	by	ADP
ftr-443	953	11	senators	senator	NOUN
ftr-443	953	12	danforth	danforth	PROPN
ftr-443	953	13	and	and	CCONJ
ftr-443	953	14	pryor	pryor	PROPN
ftr-443	953	15	,	,	PUNCT
ftr-443	953	16	s	s	PART
ftr-443	953	17	corporation	corporation	NOUN
ftr-443	953	18	reform	reform	PROPN
ftr-443	953	19	act	act	NOUN
ftr-443	953	20	of	of	ADP
ftr-443	953	21	1993	1993	NUM
ftr-443	953	22	,	,	PUNCT
ftr-443	953	23	s.	s.	PROPN
ftr-443	953	24	1690	1690	NUM
ftr-443	953	25	,	,	PUNCT
ftr-443	953	26	103d	103d	NUM
ftr-443	953	27	cong	cong	NOUN
ftr-443	953	28	.	.	PUNCT
ftr-443	954	1	for	for	ADP
ftr-443	954	2	an	an	DET
ftr-443	954	3	extended	extended	ADJ
ftr-443	954	4	discussion	discussion	NOUN
ftr-443	954	5	of	of	ADP
ftr-443	954	6	the	the	DET
ftr-443	954	7	19991	19991	NUM
ftr-443	954	8	florida	florida	PROPN
ftr-443	954	9	tax	tax	NOUN
ftr-443	954	10	review	review	NOUN
ftr-443	954	11	one	one	NUM
ftr-443	954	12	of	of	ADP
ftr-443	954	13	the	the	DET
ftr-443	954	14	reforms	reform	NOUN
ftr-443	954	15	most	most	ADV
ftr-443	954	16	desired	desire	VERB
ftr-443	954	17	by	by	ADP
ftr-443	954	18	tax	tax	NOUN
ftr-443	954	19	professionals	professional	NOUN
ftr-443	954	20	is	be	AUX
ftr-443	954	21	a	a	DET
ftr-443	954	22	rule	rule	NOUN
ftr-443	954	23	allowing	allow	VERB
ftr-443	954	24	an	an	DET
ftr-443	954	25	s	s	NOUN
ftr-443	954	26	corporation	corporation	NOUN
ftr-443	954	27	to	to	PART
ftr-443	954	28	issue	issue	VERB
ftr-443	954	29	plain	plain	ADJ
ftr-443	954	30	vanilla	vanilla	NOUN
ftr-443	954	31	preferred	prefer	VERB
ftr-443	954	32	stock	stock	NOUN
ftr-443	954	33	.	.	PUNCT
ftr-443	955	1	the	the	DET
ftr-443	955	2	purpose	purpose	NOUN
ftr-443	955	3	of	of	ADP
ftr-443	955	4	this	this	DET
ftr-443	955	5	reform	reform	NOUN
ftr-443	955	6	was	be	AUX
ftr-443	955	7	overwhelmingly	overwhelmingly	ADV
ftr-443	955	8	benign	benign	ADJ
ftr-443	955	9	.	.	PUNCT
ftr-443	956	1	the	the	DET
ftr-443	956	2	one	one	NUM
ftr-443	956	3	class	class	NOUN
ftr-443	956	4	of	of	ADP
ftr-443	956	5	stock	stock	NOUN
ftr-443	956	6	rule	rule	NOUN
ftr-443	956	7	,	,	PUNCT
ftr-443	956	8	which	which	PRON
ftr-443	956	9	has	have	AUX
ftr-443	956	10	been	be	AUX
ftr-443	956	11	part	part	NOUN
ftr-443	956	12	of	of	ADP
ftr-443	956	13	the	the	DET
ftr-443	956	14	subchapter	subchapter	NOUN
ftr-443	956	15	s	s	PART
ftr-443	956	16	landscape	landscape	NOUN
ftr-443	956	17	since	since	SCONJ
ftr-443	956	18	its	its	PRON
ftr-443	956	19	enactment	enactment	NOUN
ftr-443	956	20	in	in	ADP
ftr-443	956	21	1958	1958	NUM
ftr-443	956	22	,	,	PUNCT
ftr-443	956	23	restricts	restrict	VERB
ftr-443	956	24	an	an	DET
ftr-443	956	25	s	s	NOUN
ftr-443	956	26	corporation	corporation	NOUN
ftr-443	956	27	from	from	ADP
ftr-443	956	28	issuing	issue	VERB
ftr-443	956	29	more	more	ADJ
ftr-443	956	30	than	than	ADP
ftr-443	956	31	one	one	NUM
ftr-443	956	32	class	class	NOUN
ftr-443	956	33	of	of	ADP
ftr-443	956	34	equity	equity	NOUN
ftr-443	956	35	,	,	PUNCT
ftr-443	956	36	with	with	ADP
ftr-443	956	37	differences	difference	NOUN
ftr-443	956	38	in	in	ADP
ftr-443	956	39	voting	voting	NOUN
ftr-443	956	40	rights	right	NOUN
ftr-443	956	41	being	be	AUX
ftr-443	956	42	ignored	ignore	VERB
ftr-443	956	43	.	.	PUNCT
ftr-443	957	1	under	under	ADP
ftr-443	957	2	the	the	DET
ftr-443	957	3	one	one	NUM
ftr-443	957	4	class	class	NOUN
ftr-443	957	5	limitation	limitation	NOUN
ftr-443	957	6	,	,	PUNCT
ftr-443	957	7	an	an	DET
ftr-443	957	8	individual	individual	ADJ
ftr-443	957	9	advancing	advance	VERB
ftr-443	957	10	funds	fund	NOUN
ftr-443	957	11	to	to	ADP
ftr-443	957	12	a	a	DET
ftr-443	957	13	family	family	NOUN
ftr-443	957	14	s	s	PART
ftr-443	957	15	corporation	corporation	NOUN
ftr-443	957	16	may	may	AUX
ftr-443	957	17	receive	receive	VERB
ftr-443	957	18	a	a	DET
ftr-443	957	19	distribution	distribution	NOUN
ftr-443	957	20	priority	priority	NOUN
ftr-443	957	21	reflecting	reflect	VERB
ftr-443	957	22	investment	investment	NOUN
ftr-443	957	23	risk	risk	NOUN
ftr-443	957	24	only	only	ADV
ftr-443	957	25	if	if	SCONJ
ftr-443	957	26	the	the	DET
ftr-443	957	27	contribution	contribution	NOUN
ftr-443	957	28	is	be	AUX
ftr-443	957	29	booked	book	VERB
ftr-443	957	30	as	as	ADP
ftr-443	957	31	debt	debt	NOUN
ftr-443	957	32	.	.	PUNCT
ftr-443	958	1	intrafamily	intrafamily	ADV
ftr-443	958	2	debt	debt	NOUN
ftr-443	958	3	,	,	PUNCT
ftr-443	958	4	even	even	ADV
ftr-443	958	5	if	if	SCONJ
ftr-443	958	6	subordinated	subordinate	VERB
ftr-443	958	7	,	,	PUNCT
ftr-443	958	8	may	may	AUX
ftr-443	958	9	limit	limit	VERB
ftr-443	958	10	the	the	DET
ftr-443	958	11	corporation	corporation	NOUN
ftr-443	958	12	's	's	PART
ftr-443	958	13	ability	ability	NOUN
ftr-443	958	14	to	to	PART
ftr-443	958	15	raise	raise	VERB
ftr-443	958	16	additional	additional	ADJ
ftr-443	958	17	capital	capital	NOUN
ftr-443	958	18	in	in	ADP
ftr-443	958	19	the	the	DET
ftr-443	958	20	form	form	NOUN
ftr-443	958	21	of	of	ADP
ftr-443	958	22	either	either	PRON
ftr-443	958	23	debt	debt	NOUN
ftr-443	958	24	or	or	CCONJ
ftr-443	958	25	equity	equity	NOUN
ftr-443	958	26	.	.	PUNCT
ftr-443	959	1	even	even	ADV
ftr-443	959	2	if	if	SCONJ
ftr-443	959	3	an	an	DET
ftr-443	959	4	intrafamily	intrafamily	ADV
ftr-443	959	5	cash	cash	NOUN
ftr-443	959	6	infusion	infusion	NOUN
ftr-443	959	7	is	be	AUX
ftr-443	959	8	intended	intend	VERB
ftr-443	959	9	to	to	PART
ftr-443	959	10	be	be	AUX
ftr-443	959	11	debt	debt	NOUN
ftr-443	959	12	,	,	PUNCT
ftr-443	959	13	it	it	PRON
ftr-443	959	14	could	could	AUX
ftr-443	959	15	be	be	AUX
ftr-443	959	16	considered	consider	VERB
ftr-443	959	17	a	a	DET
ftr-443	959	18	disqualifying	disqualifying	ADJ
ftr-443	959	19	second	second	ADJ
ftr-443	959	20	class	class	NOUN
ftr-443	959	21	of	of	ADP
ftr-443	959	22	stock	stock	NOUN
ftr-443	959	23	if	if	SCONJ
ftr-443	959	24	the	the	DET
ftr-443	959	25	obligation	obligation	NOUN
ftr-443	959	26	's	's	PART
ftr-443	959	27	terms	term	NOUN
ftr-443	959	28	and	and	CCONJ
ftr-443	959	29	conditions	condition	NOUN
ftr-443	959	30	,	,	PUNCT
ftr-443	959	31	or	or	CCONJ
ftr-443	959	32	its	its	PRON
ftr-443	959	33	repayment	repayment	NOUN
ftr-443	959	34	,	,	PUNCT
ftr-443	959	35	do	do	AUX
ftr-443	959	36	not	not	PART
ftr-443	959	37	fall	fall	VERB
ftr-443	959	38	within	within	ADP
ftr-443	959	39	the	the	DET
ftr-443	959	40	safe	safe	ADJ
ftr-443	959	41	harbor	harbor	NOUN
ftr-443	959	42	for	for	ADP
ftr-443	959	43	straight	straight	ADJ
ftr-443	959	44	debt	debt	NOUN
ftr-443	959	45	.	.	PUNCT
ftr-443	960	1	155	155	NUM
ftr-443	960	2	the	the	DET
ftr-443	960	3	one	one	NUM
ftr-443	960	4	class	class	NOUN
ftr-443	960	5	of	of	ADP
ftr-443	960	6	stock	stock	NOUN
ftr-443	960	7	rule	rule	NOUN
ftr-443	960	8	also	also	ADV
ftr-443	960	9	unfairly	unfairly	ADV
ftr-443	960	10	restricts	restrict	VERB
ftr-443	960	11	an	an	DET
ftr-443	960	12	s	s	PART
ftr-443	960	13	corporation	corporation	NOUN
ftr-443	960	14	's	's	PART
ftr-443	960	15	access	access	NOUN
ftr-443	960	16	to	to	ADP
ftr-443	960	17	venture	venture	NOUN
ftr-443	960	18	capital	capital	NOUN
ftr-443	960	19	and	and	CCONJ
ftr-443	960	20	more	more	ADV
ftr-443	960	21	sophisticated	sophisticated	ADJ
ftr-443	960	22	forms	form	NOUN
ftr-443	960	23	of	of	ADP
ftr-443	960	24	financing	financing	NOUN
ftr-443	960	25	.	.	PUNCT
ftr-443	961	1	commercial	commercial	ADJ
ftr-443	961	2	lenders	lender	NOUN
ftr-443	961	3	,	,	PUNCT
ftr-443	961	4	in	in	ADP
ftr-443	961	5	addition	addition	NOUN
ftr-443	961	6	to	to	ADP
ftr-443	961	7	fixed	fix	VERB
ftr-443	961	8	payments	payment	NOUN
ftr-443	961	9	of	of	ADP
ftr-443	961	10	interest	interest	NOUN
ftr-443	961	11	,	,	PUNCT
ftr-443	961	12	frequently	frequently	ADV
ftr-443	961	13	insist	insist	VERB
ftr-443	961	14	on	on	ADP
ftr-443	961	15	receiving	receive	VERB
ftr-443	961	16	equity	equity	NOUN
ftr-443	961	17	-	-	PUNCT
ftr-443	961	18	like	like	ADJ
ftr-443	961	19	payments	payment	NOUN
ftr-443	961	20	(	(	PUNCT
ftr-443	961	21	kickers	kicker	NOUN
ftr-443	961	22	)	)	PUNCT
ftr-443	961	23	as	as	ADP
ftr-443	961	24	consideration	consideration	NOUN
ftr-443	961	25	for	for	ADP
ftr-443	961	26	the	the	DET
ftr-443	961	27	risk	risk	NOUN
ftr-443	961	28	they	they	PRON
ftr-443	961	29	assume	assume	VERB
ftr-443	961	30	.	.	PUNCT
ftr-443	962	1	often	often	ADV
ftr-443	962	2	,	,	PUNCT
ftr-443	962	3	a	a	DET
ftr-443	962	4	commercial	commercial	ADJ
ftr-443	962	5	lender	lender	NOUN
ftr-443	962	6	will	will	AUX
ftr-443	962	7	extend	extend	VERB
ftr-443	962	8	financing	financing	NOUN
ftr-443	962	9	only	only	ADV
ftr-443	962	10	if	if	SCONJ
ftr-443	962	11	it	it	PRON
ftr-443	962	12	receives	receive	VERB
ftr-443	962	13	a	a	DET
ftr-443	962	14	right	right	NOUN
ftr-443	962	15	to	to	PART
ftr-443	962	16	convert	convert	VERB
ftr-443	962	17	its	its	PRON
ftr-443	962	18	debt	debt	NOUN
ftr-443	962	19	into	into	ADP
ftr-443	962	20	equity	equity	NOUN
ftr-443	962	21	.	.	PUNCT
ftr-443	963	1	no	no	DET
ftr-443	963	2	similar	similar	ADJ
ftr-443	963	3	tax	tax	NOUN
ftr-443	963	4	penalty	penalty	NOUN
ftr-443	963	5	applies	apply	VERB
ftr-443	963	6	to	to	ADP
ftr-443	963	7	hybrid	hybrid	NOUN
ftr-443	963	8	or	or	CCONJ
ftr-443	963	9	equity	equity	NOUN
ftr-443	963	10	-	-	PUNCT
ftr-443	963	11	flavored	flavor	VERB
ftr-443	963	12	debt	debt	NOUN
ftr-443	963	13	of	of	ADP
ftr-443	963	14	an	an	DET
ftr-443	963	15	entity	entity	NOUN
ftr-443	963	16	taxable	taxable	ADJ
ftr-443	963	17	as	as	ADP
ftr-443	963	18	a	a	DET
ftr-443	963	19	partnership	partnership	NOUN
ftr-443	963	20	.	.	PUNCT
ftr-443	964	1	legislation	legislation	NOUN
ftr-443	964	2	permitting	permit	VERB
ftr-443	964	3	s	s	PART
ftr-443	964	4	corporations	corporation	NOUN
ftr-443	964	5	to	to	PART
ftr-443	964	6	issue	issue	VERB
ftr-443	964	7	preferred	preferred	ADJ
ftr-443	964	8	stock	stock	NOUN
ftr-443	964	9	is	be	AUX
ftr-443	964	10	long	long	ADV
ftr-443	964	11	overdue	overdue	ADJ
ftr-443	964	12	.	.	PUNCT
ftr-443	965	1	the	the	DET
ftr-443	965	2	justification	justification	NOUN
ftr-443	965	3	sometimes	sometimes	ADV
ftr-443	965	4	offered	offer	VERB
ftr-443	965	5	for	for	ADP
ftr-443	965	6	the	the	DET
ftr-443	965	7	one	one	NUM
ftr-443	965	8	class	class	NOUN
ftr-443	965	9	rule	rule	NOUN
ftr-443	965	10	-	-	PUNCT
ftr-443	965	11	that	that	SCONJ
ftr-443	965	12	it	it	PRON
ftr-443	965	13	avoids	avoid	VERB
ftr-443	965	14	income	income	NOUN
ftr-443	965	15	shifting	shift	VERB
ftr-443	965	16	and	and	CCONJ
ftr-443	965	17	complex	complex	ADJ
ftr-443	965	18	allocations	allocation	NOUN
ftr-443	965	19	of	of	ADP
ftr-443	965	20	income	income	NOUN
ftr-443	965	21	and	and	CCONJ
ftr-443	965	22	loss	loss	NOUN
ftr-443	965	23	-	-	PUNCT
ftr-443	965	24	has	have	AUX
ftr-443	965	25	long	long	ADV
ftr-443	965	26	been	be	AUX
ftr-443	965	27	out	out	ADP
ftr-443	965	28	of	of	ADP
ftr-443	965	29	touch	touch	NOUN
ftr-443	965	30	with	with	ADP
ftr-443	965	31	business	business	NOUN
ftr-443	965	32	reality	reality	NOUN
ftr-443	965	33	.	.	PUNCT
ftr-443	966	1	the	the	DET
ftr-443	966	2	only	only	ADJ
ftr-443	966	3	rationale	rationale	NOUN
ftr-443	966	4	for	for	ADP
ftr-443	966	5	the	the	DET
ftr-443	966	6	rule	rule	NOUN
ftr-443	966	7	must	must	AUX
ftr-443	966	8	be	be	AUX
ftr-443	966	9	that	that	SCONJ
ftr-443	966	10	an	an	DET
ftr-443	966	11	amendment	amendment	NOUN
ftr-443	966	12	allowing	allow	VERB
ftr-443	966	13	preferred	preferred	ADJ
ftr-443	966	14	stock	stock	NOUN
ftr-443	966	15	would	would	AUX
ftr-443	966	16	be	be	AUX
ftr-443	966	17	scored	score	VERB
ftr-443	966	18	as	as	ADP
ftr-443	966	19	a	a	DET
ftr-443	966	20	revenue	revenue	NOUN
ftr-443	966	21	loser	loser	NOUN
ftr-443	966	22	.	.	PUNCT
ftr-443	967	1	"	"	PUNCT
ftr-443	967	2	'	'	NUM
ftr-443	967	3	56	56	NUM
ftr-443	967	4	a	a	DET
ftr-443	967	5	bill	bill	NOUN
ftr-443	967	6	introduced	introduce	VERB
ftr-443	967	7	by	by	ADP
ftr-443	967	8	senators	senators	PROPN
ftr-443	967	9	pryor	pryor	PROPN
ftr-443	967	10	and	and	CCONJ
ftr-443	967	11	danforth	danforth	PROPN
ftr-443	967	12	in	in	ADP
ftr-443	967	13	1993	1993	NUM
ftr-443	967	14	,	,	PUNCT
ftr-443	967	15	which	which	PRON
ftr-443	967	16	contained	contain	VERB
ftr-443	967	17	several	several	ADJ
ftr-443	967	18	of	of	ADP
ftr-443	967	19	the	the	DET
ftr-443	967	20	reforms	reform	NOUN
ftr-443	967	21	enacted	enact	VERB
ftr-443	967	22	in	in	ADP
ftr-443	967	23	1996	1996	NUM
ftr-443	967	24	,	,	PUNCT
ftr-443	967	25	would	would	AUX
ftr-443	967	26	have	have	AUX
ftr-443	967	27	allowed	allow	VERB
ftr-443	967	28	an	an	DET
ftr-443	967	29	s	s	NOUN
ftr-443	967	30	amendments	amendment	NOUN
ftr-443	967	31	,	,	PUNCT
ftr-443	967	32	see	see	VERB
ftr-443	967	33	generally	generally	ADV
ftr-443	967	34	jasper	jasper	PROPN
ftr-443	967	35	l.	l.	PROPN
ftr-443	967	36	cummings	cummings	PROPN
ftr-443	967	37	&	&	CCONJ
ftr-443	967	38	samuel	samuel	PROPN
ftr-443	967	39	p.	p.	PROPN
ftr-443	967	40	starr	starr	PROPN
ftr-443	967	41	,	,	PUNCT
ftr-443	967	42	the	the	DET
ftr-443	967	43	impact	impact	NOUN
ftr-443	967	44	of	of	ADP
ftr-443	967	45	the	the	DET
ftr-443	967	46	new	new	ADJ
ftr-443	967	47	s	s	PART
ftr-443	967	48	corporation	corporation	NOUN
ftr-443	967	49	revisions	revision	NOUN
ftr-443	967	50	,	,	PUNCT
ftr-443	967	51	85	85	NUM
ftr-443	967	52	j.	j.	NOUN
ftr-443	967	53	tax'n	tax'n	ADP
ftr-443	967	54	197	197	NUM
ftr-443	967	55	(	(	PUNCT
ftr-443	967	56	oct	oct	PROPN
ftr-443	967	57	.	.	PROPN
ftr-443	967	58	1996	1996	NUM
ftr-443	967	59	)	)	PUNCT
ftr-443	967	60	.	.	PUNCT
ftr-443	968	1	155	155	NUM
ftr-443	968	2	.	.	PUNCT
ftr-443	968	3	section	section	NOUN
ftr-443	968	4	1361(c)(5	1361(c)(5	NUM
ftr-443	968	5	)	)	PUNCT
ftr-443	968	6	defines	define	VERB
ftr-443	968	7	straight	straight	ADJ
ftr-443	968	8	debt	debt	NOUN
ftr-443	968	9	as	as	ADP
ftr-443	968	10	a	a	DET
ftr-443	968	11	(	(	PUNCT
ftr-443	968	12	1	1	NUM
ftr-443	968	13	)	)	PUNCT
ftr-443	968	14	written	write	VERB
ftr-443	968	15	instrument	instrument	NOUN
ftr-443	968	16	containing	contain	VERB
ftr-443	968	17	(	(	PUNCT
ftr-443	968	18	2	2	NUM
ftr-443	968	19	)	)	PUNCT
ftr-443	968	20	an	an	DET
ftr-443	968	21	unconditional	unconditional	ADJ
ftr-443	968	22	promised	promise	VERB
ftr-443	968	23	to	to	PART
ftr-443	968	24	pay	pay	VERB
ftr-443	968	25	on	on	ADP
ftr-443	968	26	demand	demand	NOUN
ftr-443	968	27	on	on	ADP
ftr-443	968	28	date	date	NOUN
ftr-443	968	29	certain	certain	ADJ
ftr-443	968	30	(	(	PUNCT
ftr-443	968	31	3	3	NUM
ftr-443	968	32	)	)	PUNCT
ftr-443	968	33	in	in	ADP
ftr-443	968	34	money	money	NOUN
ftr-443	968	35	,	,	PUNCT
ftr-443	968	36	provided	provide	VERB
ftr-443	968	37	that	that	SCONJ
ftr-443	968	38	(	(	PUNCT
ftr-443	968	39	4	4	X
ftr-443	968	40	)	)	PUNCT
ftr-443	968	41	the	the	DET
ftr-443	968	42	interest	interest	NOUN
ftr-443	968	43	rate	rate	NOUN
ftr-443	968	44	and	and	CCONJ
ftr-443	968	45	payment	payment	NOUN
ftr-443	968	46	dates	date	NOUN
ftr-443	968	47	are	be	AUX
ftr-443	968	48	not	not	PART
ftr-443	968	49	contingent	contingent	ADJ
ftr-443	968	50	on	on	ADP
ftr-443	968	51	profits	profit	NOUN
ftr-443	968	52	,	,	PUNCT
ftr-443	968	53	the	the	DET
ftr-443	968	54	borrower	borrower	NOUN
ftr-443	968	55	's	's	PART
ftr-443	968	56	discretion	discretion	NOUN
ftr-443	968	57	,	,	PUNCT
ftr-443	968	58	or	or	CCONJ
ftr-443	968	59	similar	similar	ADJ
ftr-443	968	60	factors	factor	NOUN
ftr-443	968	61	,	,	PUNCT
ftr-443	968	62	(	(	PUNCT
ftr-443	968	63	5	5	X
ftr-443	968	64	)	)	PUNCT
ftr-443	968	65	the	the	DET
ftr-443	968	66	debt	debt	NOUN
ftr-443	968	67	is	be	AUX
ftr-443	968	68	not	not	PART
ftr-443	968	69	convertible	convertible	ADJ
ftr-443	968	70	,	,	PUNCT
ftr-443	968	71	directly	directly	ADV
ftr-443	968	72	or	or	CCONJ
ftr-443	968	73	indirectly	indirectly	ADV
ftr-443	968	74	,	,	PUNCT
ftr-443	968	75	into	into	ADP
ftr-443	968	76	stock	stock	NOUN
ftr-443	968	77	of	of	ADP
ftr-443	968	78	the	the	DET
ftr-443	968	79	debtor	debtor	NOUN
ftr-443	968	80	,	,	PUNCT
ftr-443	968	81	and	and	CCONJ
ftr-443	968	82	(	(	PUNCT
ftr-443	968	83	6	6	X
ftr-443	968	84	)	)	PUNCT
ftr-443	968	85	the	the	DET
ftr-443	968	86	creditor	creditor	NOUN
ftr-443	968	87	is	be	AUX
ftr-443	968	88	individual	individual	ADJ
ftr-443	968	89	who	who	PRON
ftr-443	968	90	is	be	AUX
ftr-443	968	91	eligible	eligible	ADJ
ftr-443	968	92	to	to	PART
ftr-443	968	93	own	own	VERB
ftr-443	968	94	s	s	PART
ftr-443	968	95	stock	stock	NOUN
ftr-443	968	96	.	.	PUNCT
ftr-443	969	1	a	a	DET
ftr-443	969	2	1996	1996	NUM
ftr-443	969	3	amendment	amendment	NOUN
ftr-443	969	4	relaxes	relax	VERB
ftr-443	969	5	the	the	DET
ftr-443	969	6	latter	latter	ADJ
ftr-443	969	7	requirement	requirement	NOUN
ftr-443	969	8	by	by	ADP
ftr-443	969	9	permitting	permit	VERB
ftr-443	969	10	a	a	DET
ftr-443	969	11	person	person	NOUN
ftr-443	969	12	who	who	PRON
ftr-443	969	13	is	be	AUX
ftr-443	969	14	actively	actively	ADV
ftr-443	969	15	and	and	CCONJ
ftr-443	969	16	regularly	regularly	ADV
ftr-443	969	17	engaged	engage	VERB
ftr-443	969	18	in	in	ADP
ftr-443	969	19	the	the	DET
ftr-443	969	20	business	business	NOUN
ftr-443	969	21	of	of	ADP
ftr-443	969	22	lending	lend	VERB
ftr-443	969	23	money	money	NOUN
ftr-443	969	24	to	to	PART
ftr-443	969	25	hold	hold	VERB
ftr-443	969	26	straight	straight	ADJ
ftr-443	969	27	debt	debt	NOUN
ftr-443	969	28	.	.	PUNCT
ftr-443	970	1	see	see	VERB
ftr-443	970	2	irc	irc	PROPN
ftr-443	970	3	§	§	PROPN
ftr-443	970	4	1361(c)(5)(iii	1361(c)(5)(iii	PROPN
ftr-443	970	5	)	)	PUNCT
ftr-443	970	6	(	(	PUNCT
ftr-443	970	7	enacted	enact	VERB
ftr-443	970	8	by	by	ADP
ftr-443	970	9	p.l	p.l	PROPN
ftr-443	970	10	.	.	PROPN
ftr-443	970	11	104	104	NUM
ftr-443	970	12	-	-	SYM
ftr-443	970	13	188	188	NUM
ftr-443	970	14	,	,	PUNCT
ftr-443	970	15	§	§	PROPN
ftr-443	970	16	1304	1304	NUM
ftr-443	970	17	,	,	PUNCT
ftr-443	970	18	110	110	NUM
ftr-443	970	19	.	.	PUNCT
ftr-443	971	1	stat	stat	PROPN
ftr-443	971	2	.	.	PUNCT
ftr-443	972	1	1755	1755	NUM
ftr-443	972	2	(	(	PUNCT
ftr-443	972	3	1996	1996	NUM
ftr-443	972	4	)	)	PUNCT
ftr-443	972	5	)	)	PUNCT
ftr-443	972	6	.	.	PUNCT
ftr-443	973	1	156	156	NUM
ftr-443	973	2	.	.	PUNCT
ftr-443	974	1	corporations	corporation	NOUN
ftr-443	974	2	holding	hold	VERB
ftr-443	974	3	preferred	preferred	ADJ
ftr-443	974	4	stock	stock	NOUN
ftr-443	974	5	of	of	ADP
ftr-443	974	6	other	other	ADJ
ftr-443	974	7	corporations	corporation	NOUN
ftr-443	974	8	have	have	AUX
ftr-443	974	9	long	long	ADV
ftr-443	974	10	been	be	AUX
ftr-443	974	11	allowed	allow	VERB
ftr-443	974	12	the	the	DET
ftr-443	974	13	deduction	deduction	NOUN
ftr-443	974	14	for	for	ADP
ftr-443	974	15	dividends	dividend	NOUN
ftr-443	974	16	received	receive	VERB
ftr-443	974	17	for	for	ADP
ftr-443	974	18	dividends	dividend	NOUN
ftr-443	974	19	on	on	ADP
ftr-443	974	20	these	these	DET
ftr-443	974	21	investments	investment	NOUN
ftr-443	974	22	.	.	PUNCT
ftr-443	975	1	irc	irc	PROPN
ftr-443	975	2	§	§	PROPN
ftr-443	975	3	243	243	NUM
ftr-443	975	4	;	;	PUNCT
ftr-443	975	5	regs	reg	NOUN
ftr-443	975	6	.	.	PUNCT
ftr-443	976	1	§	§	PROPN
ftr-443	976	2	1.1502	1.1502	NUM
ftr-443	976	3	-	-	SYM
ftr-443	976	4	26	26	NUM
ftr-443	976	5	.	.	PUNCT
ftr-443	977	1	but	but	CCONJ
ftr-443	977	2	see	see	VERB
ftr-443	977	3	irc	irc	ADV
ftr-443	977	4	§	§	PROPN
ftr-443	977	5	1059	1059	NUM
ftr-443	977	6	(	(	PUNCT
ftr-443	977	7	basis	basis	NOUN
ftr-443	977	8	reduction	reduction	NOUN
ftr-443	977	9	for	for	ADP
ftr-443	977	10	nontaxed	nontaxed	ADJ
ftr-443	977	11	portions	portion	NOUN
ftr-443	977	12	of	of	ADP
ftr-443	977	13	certain	certain	ADJ
ftr-443	977	14	extraordinary	extraordinary	ADJ
ftr-443	977	15	dividends	dividend	NOUN
ftr-443	977	16	)	)	PUNCT
ftr-443	977	17	.	.	PUNCT
ftr-443	978	1	[	[	X
ftr-443	978	2	vol	vol	NOUN
ftr-443	978	3	4:3	4:3	NUM
ftr-443	978	4	benefits	benefit	NOUN
ftr-443	978	5	and	and	CCONJ
ftr-443	978	6	burdens	burden	NOUN
ftr-443	978	7	of	of	ADP
ftr-443	978	8	subchapter	subchapter	NOUN
ftr-443	978	9	s	s	PART
ftr-443	978	10	corporation	corporation	NOUN
ftr-443	978	11	to	to	PART
ftr-443	978	12	issue	issue	VERB
ftr-443	978	13	preferred	preferred	ADJ
ftr-443	978	14	stock	stock	NOUN
ftr-443	978	15	that	that	PRON
ftr-443	978	16	(	(	PUNCT
ftr-443	978	17	1	1	X
ftr-443	978	18	)	)	PUNCT
ftr-443	978	19	is	be	AUX
ftr-443	978	20	nonvoting	nonvote	VERB
ftr-443	978	21	,	,	PUNCT
ftr-443	978	22	(	(	PUNCT
ftr-443	978	23	2	2	X
ftr-443	978	24	)	)	PUNCT
ftr-443	978	25	is	be	AUX
ftr-443	978	26	limited	limit	VERB
ftr-443	978	27	and	and	CCONJ
ftr-443	978	28	preferred	prefer	VERB
ftr-443	978	29	as	as	ADP
ftr-443	978	30	to	to	ADP
ftr-443	978	31	dividends	dividend	NOUN
ftr-443	978	32	,	,	PUNCT
ftr-443	978	33	so	so	SCONJ
ftr-443	978	34	as	as	SCONJ
ftr-443	978	35	not	not	PART
ftr-443	978	36	participate	participate	VERB
ftr-443	978	37	in	in	ADP
ftr-443	978	38	the	the	DET
ftr-443	978	39	corporation	corporation	NOUN
ftr-443	978	40	's	's	PART
ftr-443	978	41	growth	growth	NOUN
ftr-443	978	42	,	,	PUNCT
ftr-443	978	43	and	and	CCONJ
ftr-443	978	44	(	(	PUNCT
ftr-443	978	45	3	3	X
ftr-443	978	46	)	)	PUNCT
ftr-443	978	47	has	have	VERB
ftr-443	978	48	redemption	redemption	NOUN
ftr-443	978	49	and	and	CCONJ
ftr-443	978	50	liquidation	liquidation	NOUN
ftr-443	978	51	rights	right	NOUN
ftr-443	978	52	not	not	PART
ftr-443	978	53	exceeding	exceed	VERB
ftr-443	978	54	the	the	DET
ftr-443	978	55	issue	issue	NOUN
ftr-443	978	56	price	price	NOUN
ftr-443	978	57	of	of	ADP
ftr-443	978	58	the	the	DET
ftr-443	978	59	stock	stock	NOUN
ftr-443	978	60	,	,	PUNCT
ftr-443	978	61	plus	plus	CCONJ
ftr-443	978	62	a	a	DET
ftr-443	978	63	modest	modest	ADJ
ftr-443	978	64	redemption	redemption	NOUN
ftr-443	978	65	or	or	CCONJ
ftr-443	978	66	liquidation	liquidation	NOUN
ftr-443	978	67	premium	premium	NOUN
ftr-443	978	68	.	.	PUNCT
ftr-443	978	69	'	'	PUNCT
ftr-443	978	70	"	"	PUNCT
ftr-443	978	71	under	under	ADP
ftr-443	978	72	the	the	DET
ftr-443	978	73	bill	bill	NOUN
ftr-443	978	74	,	,	PUNCT
ftr-443	978	75	only	only	ADV
ftr-443	978	76	persons	person	NOUN
ftr-443	978	77	eligible	eligible	ADJ
ftr-443	978	78	to	to	PART
ftr-443	978	79	hold	hold	VERB
ftr-443	978	80	s	s	PRON
ftr-443	978	81	common	common	ADJ
ftr-443	978	82	stock	stock	NOUN
ftr-443	978	83	could	could	AUX
ftr-443	978	84	be	be	AUX
ftr-443	978	85	preferred	prefer	VERB
ftr-443	978	86	shareholders	shareholder	NOUN
ftr-443	978	87	[	[	X
ftr-443	978	88	or	or	CCONJ
ftr-443	978	89	,	,	PUNCT
ftr-443	978	90	ownership	ownership	NOUN
ftr-443	978	91	of	of	ADP
ftr-443	978	92	qualifying	qualify	VERB
ftr-443	978	93	preferred	preferred	ADJ
ftr-443	978	94	stock	stock	NOUN
ftr-443	978	95	was	be	AUX
ftr-443	978	96	not	not	PART
ftr-443	978	97	restricted	restrict	VERB
ftr-443	978	98	to	to	ADP
ftr-443	978	99	persons	person	NOUN
ftr-443	978	100	eligible	eligible	ADJ
ftr-443	978	101	to	to	PART
ftr-443	978	102	hold	hold	VERB
ftr-443	978	103	s	s	PRON
ftr-443	978	104	common	common	ADJ
ftr-443	978	105	stock	stock	NOUN
ftr-443	978	106	.	.	PUNCT
ftr-443	978	107	]	]	PUNCT
ftr-443	979	1	however	however	ADV
ftr-443	979	2	,	,	PUNCT
ftr-443	979	3	the	the	DET
ftr-443	979	4	preferred	preferred	ADJ
ftr-443	979	5	stock	stock	NOUN
ftr-443	979	6	proposal	proposal	NOUN
ftr-443	979	7	was	be	AUX
ftr-443	979	8	dropped	drop	VERB
ftr-443	979	9	from	from	ADP
ftr-443	979	10	the	the	DET
ftr-443	979	11	legislation	legislation	NOUN
ftr-443	979	12	passed	pass	VERB
ftr-443	979	13	in	in	ADP
ftr-443	979	14	1996	1996	NUM
ftr-443	979	15	,	,	PUNCT
ftr-443	979	16	a	a	DET
ftr-443	979	17	victim	victim	NOUN
ftr-443	979	18	of	of	ADP
ftr-443	979	19	negative	negative	ADJ
ftr-443	979	20	scoring	scoring	NOUN
ftr-443	979	21	.	.	PUNCT
ftr-443	980	1	juxtaposed	juxtapose	VERB
ftr-443	980	2	against	against	ADP
ftr-443	980	3	the	the	DET
ftr-443	980	4	one	one	NUM
ftr-443	980	5	class	class	NOUN
ftr-443	980	6	of	of	ADP
ftr-443	980	7	stock	stock	NOUN
ftr-443	980	8	straightjacket	straightjacket	NOUN
ftr-443	980	9	,	,	PUNCT
ftr-443	980	10	an	an	DET
ftr-443	980	11	unincorporated	unincorporated	ADJ
ftr-443	980	12	entity	entity	NOUN
ftr-443	980	13	taxed	tax	VERB
ftr-443	980	14	as	as	ADP
ftr-443	980	15	a	a	DET
ftr-443	980	16	partnership	partnership	NOUN
ftr-443	980	17	can	can	AUX
ftr-443	980	18	issue	issue	VERB
ftr-443	980	19	multiple	multiple	ADJ
ftr-443	980	20	classes	class	NOUN
ftr-443	980	21	of	of	ADP
ftr-443	980	22	equity	equity	NOUN
ftr-443	980	23	interests	interest	NOUN
ftr-443	980	24	,	,	PUNCT
ftr-443	980	25	regardless	regardless	ADV
ftr-443	980	26	of	of	ADP
ftr-443	980	27	the	the	DET
ftr-443	980	28	holder	holder	NOUN
ftr-443	980	29	's	's	PART
ftr-443	980	30	identity	identity	NOUN
ftr-443	980	31	,	,	PUNCT
ftr-443	980	32	without	without	ADP
ftr-443	980	33	losing	lose	VERB
ftr-443	980	34	conduit	conduit	NOUN
ftr-443	980	35	tax	tax	NOUN
ftr-443	980	36	stats.58	stats.58	NOUN
ftr-443	980	37	for	for	ADP
ftr-443	980	38	example	example	NOUN
ftr-443	980	39	,	,	PUNCT
ftr-443	980	40	a	a	DET
ftr-443	980	41	generous	generous	ADJ
ftr-443	980	42	grandmother	grandmother	NOUN
ftr-443	980	43	could	could	AUX
ftr-443	980	44	receive	receive	VERB
ftr-443	980	45	a	a	DET
ftr-443	980	46	preferred	preferred	ADJ
ftr-443	980	47	interest	interest	NOUN
ftr-443	980	48	in	in	ADP
ftr-443	980	49	capital	capital	NOUN
ftr-443	980	50	for	for	ADP
ftr-443	980	51	her	her	PRON
ftr-443	980	52	advance	advance	NOUN
ftr-443	980	53	to	to	ADP
ftr-443	980	54	an	an	DET
ftr-443	980	55	llc	llc	NOUN
ftr-443	980	56	organized	organize	VERB
ftr-443	980	57	by	by	ADP
ftr-443	980	58	her	her	PRON
ftr-443	980	59	granddaughter	granddaughter	NOUN
ftr-443	980	60	,	,	PUNCT
ftr-443	980	61	with	with	ADP
ftr-443	980	62	the	the	DET
ftr-443	980	63	granddaughter	granddaughter	NOUN
ftr-443	980	64	holding	hold	VERB
ftr-443	980	65	the	the	DET
ftr-443	980	66	common	common	ADJ
ftr-443	980	67	or	or	CCONJ
ftr-443	980	68	residual	residual	ADJ
ftr-443	980	69	interest	interest	NOUN
ftr-443	980	70	.	.	PUNCT
ftr-443	981	1	59	59	NUM
ftr-443	982	1	the	the	DET
ftr-443	982	2	venture	venture	NOUN
ftr-443	982	3	capital	capital	NOUN
ftr-443	982	4	lender	lender	NOUN
ftr-443	982	5	can	can	AUX
ftr-443	982	6	easily	easily	ADV
ftr-443	982	7	receive	receive	VERB
ftr-443	982	8	a	a	DET
ftr-443	982	9	hybrid	hybrid	ADJ
ftr-443	982	10	interest	interest	NOUN
ftr-443	982	11	or	or	CCONJ
ftr-443	982	12	kicker	kicker	NOUN
ftr-443	982	13	in	in	ADP
ftr-443	982	14	lending	lending	NOUN
ftr-443	982	15	funds	fund	NOUN
ftr-443	982	16	to	to	ADP
ftr-443	982	17	a	a	DET
ftr-443	982	18	partnership	partnership	NOUN
ftr-443	982	19	,	,	PUNCT
ftr-443	982	20	and	and	CCONJ
ftr-443	982	21	debt	debt	NOUN
ftr-443	982	22	instruments	instrument	NOUN
ftr-443	982	23	issued	issue	VERB
ftr-443	982	24	by	by	ADP
ftr-443	982	25	partnerships	partnership	NOUN
ftr-443	982	26	may	may	AUX
ftr-443	982	27	be	be	AUX
ftr-443	982	28	convertible	convertible	ADJ
ftr-443	982	29	.	.	PUNCT
ftr-443	983	1	one	one	NUM
ftr-443	983	2	reform	reform	NOUN
ftr-443	983	3	that	that	PRON
ftr-443	983	4	survived	survive	VERB
ftr-443	983	5	the	the	DET
ftr-443	983	6	scoring	scoring	NOUN
ftr-443	983	7	process	process	NOUN
ftr-443	983	8	is	be	AUX
ftr-443	983	9	a	a	DET
ftr-443	983	10	rule	rule	NOUN
ftr-443	983	11	permitting	permit	VERB
ftr-443	983	12	s	s	PART
ftr-443	983	13	stock	stock	NOUN
ftr-443	983	14	to	to	PART
ftr-443	983	15	be	be	AUX
ftr-443	983	16	owned	own	VERB
ftr-443	983	17	by	by	ADP
ftr-443	983	18	a	a	DET
ftr-443	983	19	tax	tax	NOUN
ftr-443	983	20	-	-	PUNCT
ftr-443	983	21	exempt	exempt	ADJ
ftr-443	983	22	organization	organization	NOUN
ftr-443	983	23	described	describe	VERB
ftr-443	983	24	in	in	ADP
ftr-443	983	25	section	section	NOUN
ftr-443	983	26	401(a	401(a	PROPN
ftr-443	983	27	)	)	PUNCT
ftr-443	983	28	(	(	PUNCT
ftr-443	983	29	qualified	qualified	ADJ
ftr-443	983	30	pension	pension	NOUN
ftr-443	983	31	,	,	PUNCT
ftr-443	983	32	profit	profit	NOUN
ftr-443	983	33	sharing	sharing	NOUN
ftr-443	983	34	,	,	PUNCT
ftr-443	983	35	and	and	CCONJ
ftr-443	983	36	bonus	bonus	NOUN
ftr-443	983	37	plans	plan	NOUN
ftr-443	983	38	)	)	PUNCT
ftr-443	983	39	or	or	CCONJ
ftr-443	983	40	section	section	NOUN
ftr-443	983	41	501(c)(3	501(c)(3	NOUN
ftr-443	983	42	)	)	PUNCT
ftr-443	983	43	(	(	PUNCT
ftr-443	983	44	charities	charity	NOUN
ftr-443	983	45	)	)	PUNCT
ftr-443	983	46	.	.	PUNCT
ftr-443	983	47	"	"	PUNCT
ftr-443	984	1	°	°	CCONJ
ftr-443	984	2	however	however	ADV
ftr-443	984	3	,	,	PUNCT
ftr-443	984	4	a	a	DET
ftr-443	984	5	tax	tax	NOUN
ftr-443	984	6	-	-	PUNCT
ftr-443	984	7	exempt	exempt	ADJ
ftr-443	984	8	organization	organization	NOUN
ftr-443	984	9	's	's	PART
ftr-443	984	10	allocable	allocable	ADJ
ftr-443	984	11	share	share	NOUN
ftr-443	984	12	of	of	ADP
ftr-443	984	13	s	s	NOUN
ftr-443	984	14	income	income	NOUN
ftr-443	984	15	,	,	PUNCT
ftr-443	984	16	and	and	CCONJ
ftr-443	984	17	gain	gain	VERB
ftr-443	984	18	on	on	ADP
ftr-443	984	19	its	its	PRON
ftr-443	984	20	sale	sale	NOUN
ftr-443	984	21	of	of	ADP
ftr-443	984	22	s	s	NOUN
ftr-443	984	23	stock	stock	NOUN
ftr-443	984	24	,	,	PUNCT
ftr-443	984	25	is	be	AUX
ftr-443	984	26	automatically	automatically	ADV
ftr-443	984	27	classified	classify	VERB
ftr-443	984	28	as	as	ADP
ftr-443	984	29	unrelated	unrelated	ADJ
ftr-443	984	30	business	business	NOUN
ftr-443	984	31	taxable	taxable	ADJ
ftr-443	984	32	income	income	NOUN
ftr-443	984	33	(	(	PUNCT
ftr-443	984	34	ubti	ubti	NOUN
ftr-443	984	35	)	)	PUNCT
ftr-443	984	36	unless	unless	SCONJ
ftr-443	984	37	the	the	DET
ftr-443	984	38	organization	organization	NOUN
ftr-443	984	39	is	be	AUX
ftr-443	984	40	an	an	DET
ftr-443	984	41	employee	employee	NOUN
ftr-443	984	42	stock	stock	NOUN
ftr-443	984	43	ownership	ownership	NOUN
ftr-443	984	44	plan	plan	NOUN
ftr-443	984	45	(	(	PUNCT
ftr-443	984	46	esop).16	esop).16	PROPN
ftr-443	984	47	1	1	NUM
ftr-443	984	48	partnerships	partnership	NOUN
ftr-443	984	49	have	have	AUX
ftr-443	984	50	always	always	ADV
ftr-443	984	51	been	be	AUX
ftr-443	984	52	allowed	allow	VERB
ftr-443	984	53	to	to	PART
ftr-443	984	54	have	have	VERB
ftr-443	984	55	tax	tax	NOUN
ftr-443	984	56	-	-	PUNCT
ftr-443	984	57	exempt	exempt	ADJ
ftr-443	984	58	organizations	organization	NOUN
ftr-443	984	59	as	as	ADP
ftr-443	984	60	partners	partner	NOUN
ftr-443	984	61	,	,	PUNCT
ftr-443	984	62	and	and	CCONJ
ftr-443	984	63	the	the	DET
ftr-443	984	64	ubti	ubti	NOUN
ftr-443	984	65	rule	rule	NOUN
ftr-443	984	66	for	for	ADP
ftr-443	984	67	them	they	PRON
ftr-443	984	68	is	be	AUX
ftr-443	984	69	less	less	ADV
ftr-443	984	70	restrictive	restrictive	ADJ
ftr-443	984	71	.	.	PUNCT
ftr-443	985	1	a	a	DET
ftr-443	985	2	tax	tax	NOUN
ftr-443	985	3	-	-	PUNCT
ftr-443	985	4	exempt	exempt	ADJ
ftr-443	985	5	partner	partner	NOUN
ftr-443	985	6	's	's	PART
ftr-443	985	7	distributive	distributive	ADJ
ftr-443	985	8	share	share	NOUN
ftr-443	985	9	of	of	ADP
ftr-443	985	10	an	an	DET
ftr-443	985	11	item	item	NOUN
ftr-443	985	12	of	of	ADP
ftr-443	985	13	partnership	partnership	NOUN
ftr-443	985	14	income	income	NOUN
ftr-443	985	15	is	be	AUX
ftr-443	985	16	ubti	ubti	ADJ
ftr-443	985	17	only	only	ADV
ftr-443	985	18	if	if	SCONJ
ftr-443	985	19	it	it	PRON
ftr-443	985	20	is	be	AUX
ftr-443	985	21	income	income	NOUN
ftr-443	985	22	of	of	ADP
ftr-443	985	23	a	a	DET
ftr-443	985	24	trade	trade	NOUN
ftr-443	985	25	or	or	CCONJ
ftr-443	985	26	business	business	NOUN
ftr-443	985	27	regularly	regularly	ADV
ftr-443	985	28	carried	carry	VERB
ftr-443	985	29	on	on	ADP
ftr-443	985	30	by	by	ADP
ftr-443	985	31	the	the	DET
ftr-443	985	32	partnership	partnership	NOUN
ftr-443	985	33	that	that	PRON
ftr-443	985	34	is	be	AUX
ftr-443	985	35	unrelated	unrelated	ADJ
ftr-443	985	36	to	to	ADP
ftr-443	985	37	the	the	DET
ftr-443	985	38	organization	organization	NOUN
ftr-443	985	39	's	's	PART
ftr-443	985	40	exempt	exempt	ADJ
ftr-443	985	41	purpose	purpose	NOUN
ftr-443	985	42	.	.	PUNCT
ftr-443	986	1	"l	"l	NOUN
ftr-443	986	2	2	2	NUM
ftr-443	986	3	a	a	DET
ftr-443	986	4	tax	tax	NOUN
ftr-443	986	5	-	-	PUNCT
ftr-443	986	6	exempt	exempt	ADJ
ftr-443	986	7	partner	partner	NOUN
ftr-443	986	8	's	's	PART
ftr-443	986	9	share	share	NOUN
ftr-443	986	10	of	of	ADP
ftr-443	986	11	partnership	partnership	NOUN
ftr-443	986	12	dividends	dividend	NOUN
ftr-443	986	13	,	,	PUNCT
ftr-443	986	14	157	157	NUM
ftr-443	986	15	.	.	PUNCT
ftr-443	987	1	see	see	VERB
ftr-443	987	2	s	s	PROPN
ftr-443	987	3	corporation	corporation	NOUN
ftr-443	987	4	reform	reform	PROPN
ftr-443	987	5	act	act	NOUN
ftr-443	987	6	of	of	ADP
ftr-443	987	7	1993	1993	NUM
ftr-443	987	8	,	,	PUNCT
ftr-443	987	9	supra	supra	PROPN
ftr-443	987	10	note	note	NOUN
ftr-443	987	11	154	154	NUM
ftr-443	987	12	.	.	PUNCT
ftr-443	988	1	158	158	NUM
ftr-443	988	2	.	.	PUNCT
ftr-443	989	1	special	special	ADJ
ftr-443	989	2	withholding	withholding	NOUN
ftr-443	989	3	rules	rule	NOUN
ftr-443	989	4	apply	apply	VERB
ftr-443	989	5	to	to	ADP
ftr-443	989	6	the	the	DET
ftr-443	989	7	distributive	distributive	ADJ
ftr-443	989	8	shares	share	NOUN
ftr-443	989	9	of	of	ADP
ftr-443	989	10	foreign	foreign	ADJ
ftr-443	989	11	partners	partner	NOUN
ftr-443	989	12	.	.	PUNCT
ftr-443	990	1	see	see	VERB
ftr-443	990	2	irc	irc	PROPN
ftr-443	990	3	§	§	PROPN
ftr-443	990	4	1446	1446	NUM
ftr-443	990	5	.	.	PUNCT
ftr-443	991	1	159	159	NUM
ftr-443	991	2	.	.	PUNCT
ftr-443	992	1	this	this	DET
ftr-443	992	2	structure	structure	NOUN
ftr-443	992	3	may	may	AUX
ftr-443	992	4	,	,	PUNCT
ftr-443	992	5	however	however	ADV
ftr-443	992	6	,	,	PUNCT
ftr-443	992	7	raise	raise	VERB
ftr-443	992	8	estate	estate	NOUN
ftr-443	992	9	and	and	CCONJ
ftr-443	992	10	gift	gift	NOUN
ftr-443	992	11	tax	tax	NOUN
ftr-443	992	12	concerns	concern	NOUN
ftr-443	992	13	,	,	PUNCT
ftr-443	992	14	especially	especially	ADV
ftr-443	992	15	if	if	SCONJ
ftr-443	992	16	distributions	distribution	NOUN
ftr-443	992	17	are	be	AUX
ftr-443	992	18	not	not	PART
ftr-443	992	19	made	make	VERB
ftr-443	992	20	regularly	regularly	ADV
ftr-443	992	21	on	on	ADP
ftr-443	992	22	the	the	DET
ftr-443	992	23	preferred	preferred	ADJ
ftr-443	992	24	interest	interest	NOUN
ftr-443	992	25	.	.	PUNCT
ftr-443	993	1	see	see	VERB
ftr-443	993	2	irc	irc	PROPN
ftr-443	993	3	§	§	PROPN
ftr-443	993	4	§	§	PROPN
ftr-443	993	5	2701(a	2701(a	NOUN
ftr-443	993	6	)	)	PUNCT
ftr-443	993	7	,	,	PUNCT
ftr-443	993	8	(	(	PUNCT
ftr-443	993	9	d)(imputed	d)(impute	VERB
ftr-443	993	10	transfer	transfer	NOUN
ftr-443	993	11	tax	tax	NOUN
ftr-443	993	12	on	on	ADP
ftr-443	993	13	cumulative	cumulative	ADJ
ftr-443	993	14	unpaid	unpaid	ADJ
ftr-443	993	15	distributions	distribution	NOUN
ftr-443	993	16	)	)	PUNCT
ftr-443	993	17	;	;	PUNCT
ftr-443	993	18	see	see	VERB
ftr-443	993	19	also	also	ADV
ftr-443	993	20	jerald	jerald	PROPN
ftr-443	993	21	d.	d.	PROPN
ftr-443	993	22	august	august	PROPN
ftr-443	993	23	,	,	PUNCT
ftr-443	993	24	special	special	ADJ
ftr-443	993	25	transfer	transfer	NOUN
ftr-443	993	26	tax	tax	NOUN
ftr-443	993	27	valuation	valuation	NOUN
ftr-443	993	28	rules	rule	NOUN
ftr-443	993	29	for	for	ADP
ftr-443	993	30	interests	interest	NOUN
ftr-443	993	31	in	in	ADP
ftr-443	993	32	family	family	NOUN
ftr-443	993	33	owned	own	VERB
ftr-443	993	34	enterprises	enterprise	NOUN
ftr-443	993	35	:	:	PUNCT
ftr-443	993	36	the	the	DET
ftr-443	993	37	micro	micro	NOUN
ftr-443	993	38	-	-	NOUN
ftr-443	993	39	surgery	surgery	NOUN
ftr-443	993	40	of	of	ADP
ftr-443	993	41	chapter	chapter	NOUN
ftr-443	993	42	14	14	NUM
ftr-443	993	43	,	,	PUNCT
ftr-443	993	44	in	in	ADP
ftr-443	993	45	new	new	PROPN
ftr-443	993	46	york	york	PROPN
ftr-443	993	47	university	university	PROPN
ftr-443	993	48	-	-	PUNCT
ftr-443	993	49	proceedings	proceeding	NOUN
ftr-443	993	50	of	of	ADP
ftr-443	993	51	the	the	DET
ftr-443	993	52	fifty	fifty	NUM
ftr-443	993	53	-	-	PUNCT
ftr-443	993	54	fourth	fourth	NOUN
ftr-443	993	55	institute	institute	NOUN
ftr-443	993	56	on	on	ADP
ftr-443	993	57	federal	federal	ADJ
ftr-443	993	58	taxation	taxation	NOUN
ftr-443	993	59	§	§	PROPN
ftr-443	993	60	31	31	NUM
ftr-443	993	61	(	(	PUNCT
ftr-443	993	62	1996	1996	NUM
ftr-443	993	63	)	)	PUNCT
ftr-443	993	64	.	.	PUNCT
ftr-443	994	1	160	160	NUM
ftr-443	994	2	.	.	PUNCT
ftr-443	994	3	see	see	VERB
ftr-443	994	4	irc	irc	ADV
ftr-443	994	5	§	§	PROPN
ftr-443	994	6	1361(c)(6	1361(c)(6	NUM
ftr-443	994	7	)	)	PUNCT
ftr-443	994	8	(	(	PUNCT
ftr-443	994	9	effective	effective	ADJ
ftr-443	994	10	for	for	ADP
ftr-443	994	11	taxable	taxable	ADJ
ftr-443	994	12	years	year	NOUN
ftr-443	994	13	beginning	begin	VERB
ftr-443	994	14	after	after	ADP
ftr-443	994	15	1997	1997	NUM
ftr-443	994	16	)	)	PUNCT
ftr-443	994	17	.	.	PUNCT
ftr-443	995	1	161	161	NUM
ftr-443	995	2	.	.	PUNCT
ftr-443	995	3	see	see	VERB
ftr-443	995	4	irc	irc	PROPN
ftr-443	995	5	§	§	PROPN
ftr-443	995	6	512(e	512(e	PROPN
ftr-443	995	7	)	)	PUNCT
ftr-443	995	8	.	.	PUNCT
ftr-443	996	1	the	the	DET
ftr-443	996	2	exception	exception	NOUN
ftr-443	996	3	for	for	ADP
ftr-443	996	4	esops	esop	NOUN
ftr-443	996	5	was	be	AUX
ftr-443	996	6	added	add	VERB
ftr-443	996	7	in	in	ADP
ftr-443	996	8	1997	1997	NUM
ftr-443	996	9	,	,	PUNCT
ftr-443	996	10	but	but	CCONJ
ftr-443	996	11	it	it	PRON
ftr-443	996	12	is	be	AUX
ftr-443	996	13	effective	effective	ADJ
ftr-443	996	14	as	as	SCONJ
ftr-443	996	15	though	though	SCONJ
ftr-443	996	16	it	it	PRON
ftr-443	996	17	were	be	AUX
ftr-443	996	18	included	include	VERB
ftr-443	996	19	in	in	ADP
ftr-443	996	20	the	the	DET
ftr-443	996	21	1996	1996	NUM
ftr-443	996	22	legislation	legislation	NOUN
ftr-443	996	23	.	.	PUNCT
ftr-443	997	1	162	162	NUM
ftr-443	997	2	.	.	PUNCT
ftr-443	997	3	see	see	VERB
ftr-443	997	4	irc	irc	PROPN
ftr-443	997	5	§	§	PROPN
ftr-443	997	6	512(c	512(c	PROPN
ftr-443	997	7	)	)	PUNCT
ftr-443	997	8	.	.	PUNCT
ftr-443	998	1	1999	1999	NUM
ftr-443	998	2	]	]	PUNCT
ftr-443	998	3	florida	florida	PROPN
ftr-443	998	4	tax	tax	PROPN
ftr-443	998	5	review	review	NOUN
ftr-443	998	6	interest	interest	NOUN
ftr-443	998	7	,	,	PUNCT
ftr-443	998	8	royalties	royalty	NOUN
ftr-443	998	9	,	,	PUNCT
ftr-443	998	10	and	and	CCONJ
ftr-443	998	11	capital	capital	NOUN
ftr-443	998	12	gains	gain	NOUN
ftr-443	998	13	thus	thus	ADV
ftr-443	998	14	is	be	AUX
ftr-443	998	15	usually	usually	ADV
ftr-443	998	16	not	not	PART
ftr-443	998	17	ubti	ubti	ADJ
ftr-443	998	18	.	.	PUNCT
ftr-443	999	1	in	in	ADP
ftr-443	999	2	finally	finally	ADV
ftr-443	999	3	allowing	allow	VERB
ftr-443	999	4	s	s	VERB
ftr-443	999	5	shareholders	shareholder	NOUN
ftr-443	999	6	to	to	PART
ftr-443	999	7	make	make	VERB
ftr-443	999	8	gifts	gift	NOUN
ftr-443	999	9	of	of	ADP
ftr-443	999	10	s	s	PRON
ftr-443	999	11	stock	stock	NOUN
ftr-443	999	12	to	to	ADP
ftr-443	999	13	charity	charity	NOUN
ftr-443	999	14	,	,	PUNCT
ftr-443	999	15	why	why	SCONJ
ftr-443	999	16	did	do	AUX
ftr-443	999	17	congress	congress	PROPN
ftr-443	999	18	make	make	VERB
ftr-443	999	19	the	the	DET
ftr-443	999	20	rule	rule	NOUN
ftr-443	999	21	for	for	ADP
ftr-443	999	22	owners	owner	NOUN
ftr-443	999	23	of	of	ADP
ftr-443	999	24	s	s	PART
ftr-443	999	25	corporations	corporation	NOUN
ftr-443	999	26	more	more	ADV
ftr-443	999	27	restrictive	restrictive	ADJ
ftr-443	999	28	than	than	ADP
ftr-443	999	29	that	that	PRON
ftr-443	999	30	for	for	ADP
ftr-443	999	31	partners	partner	NOUN
ftr-443	999	32	?	?	PUNCT
ftr-443	1000	1	again	again	ADV
ftr-443	1000	2	,	,	PUNCT
ftr-443	1000	3	the	the	DET
ftr-443	1000	4	assumed	assume	VERB
ftr-443	1000	5	culprit	culprit	NOUN
ftr-443	1000	6	must	must	AUX
ftr-443	1000	7	be	be	AUX
ftr-443	1000	8	the	the	DET
ftr-443	1000	9	scoring	scoring	NOUN
ftr-443	1000	10	process	process	NOUN
ftr-443	1000	11	,	,	PUNCT
ftr-443	1000	12	which	which	DET
ftr-443	1000	13	result	result	NOUN
ftr-443	1000	14	comes	come	VERB
ftr-443	1000	15	at	at	ADP
ftr-443	1000	16	the	the	DET
ftr-443	1000	17	expense	expense	NOUN
ftr-443	1000	18	of	of	ADP
ftr-443	1000	19	fairness	fairness	NOUN
ftr-443	1000	20	.	.	PUNCT
ftr-443	1001	1	the	the	DET
ftr-443	1001	2	slow	slow	ADJ
ftr-443	1001	3	pace	pace	NOUN
ftr-443	1001	4	of	of	ADP
ftr-443	1001	5	subchapter	subchapter	NOUN
ftr-443	1001	6	s	s	PART
ftr-443	1001	7	reform	reform	NOUN
ftr-443	1001	8	stands	stand	VERB
ftr-443	1001	9	in	in	ADP
ftr-443	1001	10	contrast	contrast	NOUN
ftr-443	1001	11	with	with	ADP
ftr-443	1001	12	the	the	DET
ftr-443	1001	13	process	process	NOUN
ftr-443	1001	14	by	by	ADP
ftr-443	1001	15	which	which	PRON
ftr-443	1001	16	the	the	DET
ftr-443	1001	17	ctb	ctb	NOUN
ftr-443	1001	18	regulations	regulation	NOUN
ftr-443	1001	19	dramatically	dramatically	ADV
ftr-443	1001	20	altered	alter	VERB
ftr-443	1001	21	partnership	partnership	NOUN
ftr-443	1001	22	taxation	taxation	PROPN
ftr-443	1001	23	.	.	PUNCT
ftr-443	1002	1	ironically	ironically	ADV
ftr-443	1002	2	,	,	PUNCT
ftr-443	1002	3	ctb	ctb	PROPN
ftr-443	1002	4	,	,	PUNCT
ftr-443	1002	5	whose	whose	DET
ftr-443	1002	6	precursor	precursor	NOUN
ftr-443	1002	7	was	be	AUX
ftr-443	1002	8	a	a	DET
ftr-443	1002	9	series	series	NOUN
ftr-443	1002	10	of	of	ADP
ftr-443	1002	11	rulings	ruling	NOUN
ftr-443	1002	12	mapping	map	VERB
ftr-443	1002	13	the	the	DET
ftr-443	1002	14	way	way	NOUN
ftr-443	1002	15	for	for	SCONJ
ftr-443	1002	16	llcs	llcs	NOUN
ftr-443	1002	17	to	to	PART
ftr-443	1002	18	be	be	AUX
ftr-443	1002	19	characterized	characterize	VERB
ftr-443	1002	20	as	as	ADP
ftr-443	1002	21	partnerships	partnership	NOUN
ftr-443	1002	22	,	,	PUNCT
ftr-443	1002	23	63	63	NUM
ftr-443	1002	24	came	come	VERB
ftr-443	1002	25	by	by	ADP
ftr-443	1002	26	administrative	administrative	ADJ
ftr-443	1002	27	fiat	fiat	NOUN
ftr-443	1002	28	and	and	CCONJ
ftr-443	1002	29	did	do	AUX
ftr-443	1002	30	not	not	PART
ftr-443	1002	31	receive	receive	VERB
ftr-443	1002	32	formal	formal	ADJ
ftr-443	1002	33	congressional	congressional	ADJ
ftr-443	1002	34	approval	approval	NOUN
ftr-443	1002	35	.	.	PUNCT
ftr-443	1003	1	the	the	DET
ftr-443	1003	2	logic	logic	NOUN
ftr-443	1003	3	behind	behind	ADP
ftr-443	1003	4	the	the	DET
ftr-443	1003	5	service	service	NOUN
ftr-443	1003	6	's	's	PART
ftr-443	1003	7	and	and	CCONJ
ftr-443	1003	8	treasury	treasury	NOUN
ftr-443	1003	9	's	's	PART
ftr-443	1003	10	largesse	largesse	NOUN
ftr-443	1003	11	was	be	AUX
ftr-443	1003	12	presumably	presumably	ADV
ftr-443	1003	13	that	that	SCONJ
ftr-443	1003	14	since	since	SCONJ
ftr-443	1003	15	partnerships	partnership	NOUN
ftr-443	1003	16	and	and	CCONJ
ftr-443	1003	17	llcs	llcs	NOUN
ftr-443	1003	18	had	have	AUX
ftr-443	1003	19	already	already	ADV
ftr-443	1003	20	evaded	evade	VERB
ftr-443	1003	21	subchapter	subchapter	NOUN
ftr-443	1003	22	c	c	NOUN
ftr-443	1003	23	,	,	PUNCT
ftr-443	1003	24	generous	generous	ADJ
ftr-443	1003	25	allowance	allowance	NOUN
ftr-443	1003	26	of	of	ADP
ftr-443	1003	27	partnership	partnership	NOUN
ftr-443	1003	28	status	status	NOUN
ftr-443	1003	29	to	to	ADP
ftr-443	1003	30	newly	newly	ADV
ftr-443	1003	31	-	-	PUNCT
ftr-443	1003	32	organized	organize	VERB
ftr-443	1003	33	entities	entity	NOUN
ftr-443	1003	34	would	would	AUX
ftr-443	1003	35	not	not	PART
ftr-443	1003	36	directly	directly	ADV
ftr-443	1003	37	reduce	reduce	VERB
ftr-443	1003	38	federal	federal	ADJ
ftr-443	1003	39	revenues	revenue	NOUN
ftr-443	1003	40	.	.	PUNCT
ftr-443	1004	1	the	the	DET
ftr-443	1004	2	contradictory	contradictory	ADJ
ftr-443	1004	3	treatment	treatment	NOUN
ftr-443	1004	4	of	of	ADP
ftr-443	1004	5	s	s	PART
ftr-443	1004	6	corporations	corporation	NOUN
ftr-443	1004	7	and	and	CCONJ
ftr-443	1004	8	partnerships	partnership	NOUN
ftr-443	1004	9	may	may	AUX
ftr-443	1004	10	be	be	AUX
ftr-443	1004	11	blamed	blame	VERB
ftr-443	1004	12	upon	upon	SCONJ
ftr-443	1004	13	the	the	DET
ftr-443	1004	14	process	process	NOUN
ftr-443	1004	15	by	by	ADP
ftr-443	1004	16	which	which	PRON
ftr-443	1004	17	the	the	DET
ftr-443	1004	18	treasury	treasury	NOUN
ftr-443	1004	19	is	be	AUX
ftr-443	1004	20	authorized	authorize	VERB
ftr-443	1004	21	to	to	PART
ftr-443	1004	22	issue	issue	VERB
ftr-443	1004	23	regulations	regulation	NOUN
ftr-443	1004	24	under	under	ADP
ftr-443	1004	25	existing	exist	VERB
ftr-443	1004	26	law	law	NOUN
ftr-443	1004	27	for	for	ADP
ftr-443	1004	28	unincorporated	unincorporated	ADJ
ftr-443	1004	29	pbfs	pbfs	NOUN
ftr-443	1004	30	,	,	PUNCT
ftr-443	1004	31	while	while	SCONJ
ftr-443	1004	32	the	the	DET
ftr-443	1004	33	consensus	consensus	NOUN
ftr-443	1004	34	building	building	NOUN
ftr-443	1004	35	and	and	CCONJ
ftr-443	1004	36	deficit	deficit	VERB
ftr-443	1004	37	conscious	conscious	ADJ
ftr-443	1004	38	processes	process	NOUN
ftr-443	1004	39	of	of	ADP
ftr-443	1004	40	congress	congress	PROPN
ftr-443	1004	41	must	must	AUX
ftr-443	1004	42	apply	apply	VERB
ftr-443	1004	43	to	to	ADP
ftr-443	1004	44	subchapter	subchapter	NOUN
ftr-443	1004	45	s	s	PART
ftr-443	1004	46	reform	reform	NOUN
ftr-443	1004	47	.	.	PUNCT
ftr-443	1005	1	iv	iv	X
ftr-443	1005	2	.	.	PUNCT
ftr-443	1005	3	evolution	evolution	NOUN
ftr-443	1005	4	of	of	ADP
ftr-443	1005	5	subchapter	subchapter	NOUN
ftr-443	1005	6	s	s	NOUN
ftr-443	1005	7	:	:	PUNCT
ftr-443	1005	8	why	why	SCONJ
ftr-443	1005	9	congress	congress	PROPN
ftr-443	1005	10	should	should	AUX
ftr-443	1005	11	further	far	ADV
ftr-443	1005	12	aid	aid	VERB
ftr-443	1005	13	s	s	PART
ftr-443	1005	14	corporations	corporation	NOUN
ftr-443	1005	15	in	in	ADP
ftr-443	1005	16	enacting	enact	VERB
ftr-443	1005	17	subchapter	subchapter	NOUN
ftr-443	1005	18	s	s	NOUN
ftr-443	1005	19	in	in	ADP
ftr-443	1005	20	1958	1958	NUM
ftr-443	1005	21	,	,	PUNCT
ftr-443	1005	22	congress	congress	PROPN
ftr-443	1005	23	'	'	PART
ftr-443	1005	24	conception	conception	NOUN
ftr-443	1005	25	of	of	ADP
ftr-443	1005	26	the	the	DET
ftr-443	1005	27	profile	profile	NOUN
ftr-443	1005	28	of	of	ADP
ftr-443	1005	29	s	s	PRON
ftr-443	1005	30	investors	investor	NOUN
ftr-443	1005	31	was	be	AUX
ftr-443	1005	32	very	very	ADV
ftr-443	1005	33	restrictive	restrictive	ADJ
ftr-443	1005	34	.	.	PUNCT
ftr-443	1005	35	"	"	PUNCT
ftr-443	1006	1	the	the	DET
ftr-443	1006	2	first	first	ADJ
ftr-443	1006	3	generation	generation	NOUN
ftr-443	1006	4	of	of	ADP
ftr-443	1006	5	s	s	NOUN
ftr-443	1006	6	investors	investor	NOUN
ftr-443	1006	7	suffered	suffer	VERB
ftr-443	1006	8	from	from	ADP
ftr-443	1006	9	various	various	ADJ
ftr-443	1006	10	organizational	organizational	ADJ
ftr-443	1006	11	and	and	CCONJ
ftr-443	1006	12	operational	operational	ADJ
ftr-443	1006	13	handicaps	handicap	NOUN
ftr-443	1006	14	.	.	PUNCT
ftr-443	1007	1	s	s	PART
ftr-443	1007	2	corporations	corporation	NOUN
ftr-443	1007	3	could	could	AUX
ftr-443	1007	4	not	not	PART
ftr-443	1007	5	have	have	VERB
ftr-443	1007	6	more	more	ADJ
ftr-443	1007	7	than	than	ADP
ftr-443	1007	8	10	10	NUM
ftr-443	1007	9	shareholders	shareholder	NOUN
ftr-443	1007	10	,	,	PUNCT
ftr-443	1007	11	could	could	AUX
ftr-443	1007	12	only	only	ADV
ftr-443	1007	13	issue	issue	VERB
ftr-443	1007	14	one	one	NUM
ftr-443	1007	15	class	class	NOUN
ftr-443	1007	16	of	of	ADP
ftr-443	1007	17	stock	stock	NOUN
ftr-443	1007	18	,	,	PUNCT
ftr-443	1007	19	and	and	CCONJ
ftr-443	1007	20	could	could	AUX
ftr-443	1007	21	not	not	PART
ftr-443	1007	22	issue	issue	VERB
ftr-443	1007	23	hybrid	hybrid	ADJ
ftr-443	1007	24	debt	debt	NOUN
ftr-443	1007	25	or	or	CCONJ
ftr-443	1007	26	debt	debt	NOUN
ftr-443	1007	27	to	to	ADP
ftr-443	1007	28	an	an	DET
ftr-443	1007	29	ineligible	ineligible	ADJ
ftr-443	1007	30	shareholder	shareholder	NOUN
ftr-443	1007	31	without	without	ADP
ftr-443	1007	32	assuming	assume	VERB
ftr-443	1007	33	substantial	substantial	ADJ
ftr-443	1007	34	tax	tax	NOUN
ftr-443	1007	35	risk	risk	NOUN
ftr-443	1007	36	.	.	PUNCT
ftr-443	1008	1	since	since	SCONJ
ftr-443	1008	2	trusts	trust	NOUN
ftr-443	1008	3	were	be	AUX
ftr-443	1008	4	not	not	PART
ftr-443	1008	5	permitted	permit	VERB
ftr-443	1008	6	shareholders	shareholder	NOUN
ftr-443	1008	7	,	,	PUNCT
ftr-443	1008	8	s	s	VERB
ftr-443	1008	9	shareholders	shareholder	NOUN
ftr-443	1008	10	were	be	AUX
ftr-443	1008	11	severely	severely	ADV
ftr-443	1008	12	restricted	restrict	VERB
ftr-443	1008	13	in	in	ADP
ftr-443	1008	14	achieving	achieve	VERB
ftr-443	1008	15	customary	customary	ADJ
ftr-443	1008	16	estate	estate	NOUN
ftr-443	1008	17	planning	planning	NOUN
ftr-443	1008	18	objectives	objective	NOUN
ftr-443	1008	19	,	,	PUNCT
ftr-443	1008	20	especially	especially	ADV
ftr-443	1008	21	in	in	ADP
ftr-443	1008	22	planning	planning	NOUN
ftr-443	1008	23	for	for	ADP
ftr-443	1008	24	multi	multi	ADJ
ftr-443	1008	25	-	-	ADJ
ftr-443	1008	26	generational	generational	ADJ
ftr-443	1008	27	ownership	ownership	NOUN
ftr-443	1008	28	of	of	ADP
ftr-443	1008	29	s	s	NOUN
ftr-443	1008	30	stock	stock	NOUN
ftr-443	1008	31	.	.	PUNCT
ftr-443	1009	1	congress	congress	PROPN
ftr-443	1009	2	apparently	apparently	ADV
ftr-443	1009	3	intended	intend	VERB
ftr-443	1009	4	that	that	SCONJ
ftr-443	1009	5	more	more	ADV
ftr-443	1009	6	sophisticated	sophisticated	ADJ
ftr-443	1009	7	incorporated	incorporated	ADJ
ftr-443	1009	8	businesses	business	NOUN
ftr-443	1009	9	,	,	PUNCT
ftr-443	1009	10	possessing	possess	VERB
ftr-443	1009	11	more	more	ADV
ftr-443	1009	12	complex	complex	ADJ
ftr-443	1009	13	organizational	organizational	ADJ
ftr-443	1009	14	and	and	CCONJ
ftr-443	1009	15	capital	capital	NOUN
ftr-443	1009	16	structures	structure	NOUN
ftr-443	1009	17	and	and	CCONJ
ftr-443	1009	18	requiring	require	VERB
ftr-443	1009	19	more	more	ADV
ftr-443	1009	20	sophisticated	sophisticated	ADJ
ftr-443	1009	21	estate	estate	NOUN
ftr-443	1009	22	planning	planning	NOUN
ftr-443	1009	23	,	,	PUNCT
ftr-443	1009	24	should	should	AUX
ftr-443	1009	25	be	be	AUX
ftr-443	1009	26	subject	subject	ADJ
ftr-443	1009	27	to	to	ADP
ftr-443	1009	28	the	the	DET
ftr-443	1009	29	double	double	ADJ
ftr-443	1009	30	tax	tax	NOUN
ftr-443	1009	31	regime	regime	NOUN
ftr-443	1009	32	of	of	ADP
ftr-443	1009	33	subchapter	subchapter	NOUN
ftr-443	1009	34	c	c	NOUN
ftr-443	1009	35	,	,	PUNCT
ftr-443	1009	36	which	which	PRON
ftr-443	1009	37	,	,	PUNCT
ftr-443	1009	38	until	until	ADP
ftr-443	1009	39	1986	1986	NUM
ftr-443	1009	40	,	,	PUNCT
ftr-443	1009	41	reflected	reflect	VERB
ftr-443	1009	42	a	a	DET
ftr-443	1009	43	strong	strong	ADJ
ftr-443	1009	44	tax	tax	NOUN
ftr-443	1009	45	bias	bias	NOUN
ftr-443	1009	46	in	in	ADP
ftr-443	1009	47	favor	favor	NOUN
ftr-443	1009	48	of	of	ADP
ftr-443	1009	49	liquidation	liquidation	NOUN
ftr-443	1009	50	strategies	strategy	NOUN
ftr-443	1009	51	to	to	PART
ftr-443	1009	52	avoid	avoid	VERB
ftr-443	1009	53	double	double	ADJ
ftr-443	1009	54	taxation	taxation	NOUN
ftr-443	1009	55	.	.	PUNCT
ftr-443	1010	1	in	in	ADP
ftr-443	1010	2	contrast	contrast	NOUN
ftr-443	1010	3	,	,	PUNCT
ftr-443	1010	4	subchapter	subchapter	NOUN
ftr-443	1010	5	s	s	PART
ftr-443	1010	6	was	be	AUX
ftr-443	1010	7	designed	design	VERB
ftr-443	1010	8	to	to	PART
ftr-443	1010	9	be	be	AUX
ftr-443	1010	10	utilized	utilize	VERB
ftr-443	1010	11	only	only	ADV
ftr-443	1010	12	by	by	ADP
ftr-443	1010	13	small	small	ADJ
ftr-443	1010	14	businesses	business	NOUN
ftr-443	1010	15	,	,	PUNCT
ftr-443	1010	16	such	such	ADJ
ftr-443	1010	17	as	as	ADP
ftr-443	1010	18	the	the	DET
ftr-443	1010	19	corner	corner	NOUN
ftr-443	1010	20	grocery	grocery	NOUN
ftr-443	1010	21	store	store	NOUN
ftr-443	1010	22	,	,	PUNCT
ftr-443	1010	23	pharmacy	pharmacy	NOUN
ftr-443	1010	24	,	,	PUNCT
ftr-443	1010	25	or	or	CCONJ
ftr-443	1010	26	closely	closely	ADV
ftr-443	1010	27	-	-	PUNCT
ftr-443	1010	28	held	hold	VERB
ftr-443	1010	29	accounting	accounting	NOUN
ftr-443	1010	30	or	or	CCONJ
ftr-443	1010	31	law	law	NOUN
ftr-443	1010	32	firm	firm	NOUN
ftr-443	1010	33	.	.	PUNCT
ftr-443	1011	1	the	the	DET
ftr-443	1011	2	intent	intent	NOUN
ftr-443	1011	3	was	be	AUX
ftr-443	1011	4	to	to	PART
ftr-443	1011	5	allow	allow	VERB
ftr-443	1011	6	smaller	small	ADJ
ftr-443	1011	7	businesses	business	NOUN
ftr-443	1011	8	to	to	PART
ftr-443	1011	9	incorporate	incorporate	VERB
ftr-443	1011	10	but	but	CCONJ
ftr-443	1011	11	be	be	AUX
ftr-443	1011	12	taxed	tax	VERB
ftr-443	1011	13	like	like	ADP
ftr-443	1011	14	partnerships	partnership	NOUN
ftr-443	1011	15	,	,	PUNCT
ftr-443	1011	16	allowing	allow	VERB
ftr-443	1011	17	passthrough	passthrough	NOUN
ftr-443	1011	18	of	of	ADP
ftr-443	1011	19	start	start	NOUN
ftr-443	1011	20	-	-	PUNCT
ftr-443	1011	21	up	up	NOUN
ftr-443	1011	22	163	163	NUM
ftr-443	1011	23	.	.	PUNCT
ftr-443	1012	1	see	see	VERB
ftr-443	1012	2	supra	supra	ADJ
ftr-443	1012	3	text	text	NOUN
ftr-443	1012	4	accompanying	accompanying	ADJ
ftr-443	1012	5	note	note	NOUN
ftr-443	1012	6	5	5	NUM
ftr-443	1012	7	.	.	SYM
ftr-443	1012	8	164	164	NUM
ftr-443	1012	9	.	.	PUNCT
ftr-443	1013	1	s.	s.	PROPN
ftr-443	1013	2	rep	rep	PROPN
ftr-443	1013	3	.	.	PROPN
ftr-443	1014	1	no	no	PROPN
ftr-443	1014	2	.	.	NOUN
ftr-443	1015	1	1983	1983	NUM
ftr-443	1015	2	,	,	PUNCT
ftr-443	1015	3	85th	85th	ADJ
ftr-443	1015	4	cong	cong	NOUN
ftr-443	1015	5	.	.	PROPN
ftr-443	1015	6	,	,	PUNCT
ftr-443	1015	7	2d	2d	PROPN
ftr-443	1015	8	sess	sess	NOUN
ftr-443	1015	9	.	.	PUNCT
ftr-443	1016	1	87	87	NUM
ftr-443	1016	2	-	-	PUNCT
ftr-443	1016	3	89,216	89,216	NUM
ftr-443	1016	4	-	-	SYM
ftr-443	1016	5	26	26	NUM
ftr-443	1016	6	(	(	PUNCT
ftr-443	1016	7	1958	1958	NUM
ftr-443	1016	8	)	)	PUNCT
ftr-443	1016	9	,	,	PUNCT
ftr-443	1016	10	reprinted	reprint	VERB
ftr-443	1016	11	in	in	ADP
ftr-443	1016	12	1954	1954	NUM
ftr-443	1016	13	u.s.c.c.a.n	u.s.c.c.a.n	PROPN
ftr-443	1016	14	.	.	PUNCT
ftr-443	1016	15	4791	4791	NUM
ftr-443	1016	16	,	,	PUNCT
ftr-443	1016	17	4876	4876	NUM
ftr-443	1016	18	-	-	SYM
ftr-443	1016	19	78	78	NUM
ftr-443	1016	20	,	,	PUNCT
ftr-443	1016	21	5005	5005	NUM
ftr-443	1016	22	-	-	SYM
ftr-443	1016	23	14	14	NUM
ftr-443	1016	24	and	and	CCONJ
ftr-443	1016	25	1958	1958	NUM
ftr-443	1016	26	-	-	SYM
ftr-443	1016	27	3	3	NUM
ftr-443	1016	28	c.b	c.b	PROPN
ftr-443	1016	29	.	.	PROPN
ftr-443	1016	30	922	922	NUM
ftr-443	1016	31	,	,	PUNCT
ftr-443	1016	32	1008	1008	NUM
ftr-443	1016	33	-	-	SYM
ftr-443	1016	34	10	10	NUM
ftr-443	1016	35	,	,	PUNCT
ftr-443	1016	36	1137	1137	NUM
ftr-443	1016	37	-	-	SYM
ftr-443	1016	38	47	47	NUM
ftr-443	1016	39	.	.	PUNCT
ftr-443	1017	1	[	[	X
ftr-443	1017	2	vol	vol	NOUN
ftr-443	1017	3	4:3	4:3	NUM
ftr-443	1017	4	benefits	benefit	NOUN
ftr-443	1017	5	and	and	CCONJ
ftr-443	1017	6	burdens	burden	NOUN
ftr-443	1017	7	of	of	ADP
ftr-443	1017	8	subchapter	subchapter	NOUN
ftr-443	1017	9	s	s	PART
ftr-443	1017	10	losses	loss	NOUN
ftr-443	1017	11	and	and	CCONJ
ftr-443	1017	12	only	only	ADV
ftr-443	1017	13	one	one	NUM
ftr-443	1017	14	level	level	NOUN
ftr-443	1017	15	of	of	ADP
ftr-443	1017	16	taxation	taxation	NOUN
ftr-443	1017	17	once	once	SCONJ
ftr-443	1017	18	the	the	DET
ftr-443	1017	19	business	business	NOUN
ftr-443	1017	20	became	become	VERB
ftr-443	1017	21	profitable	profitable	ADJ
ftr-443	1017	22	.	.	PUNCT
ftr-443	1018	1	the	the	DET
ftr-443	1018	2	single	single	ADJ
ftr-443	1018	3	class	class	NOUN
ftr-443	1018	4	of	of	ADP
ftr-443	1018	5	stock	stock	NOUN
ftr-443	1018	6	limitation	limitation	NOUN
ftr-443	1018	7	promoted	promote	VERB
ftr-443	1018	8	administrative	administrative	ADJ
ftr-443	1018	9	efficiency	efficiency	NOUN
ftr-443	1018	10	by	by	ADP
ftr-443	1018	11	avoiding	avoid	VERB
ftr-443	1018	12	complex	complex	ADJ
ftr-443	1018	13	allocation	allocation	NOUN
ftr-443	1018	14	and	and	CCONJ
ftr-443	1018	15	assignment	assignment	NOUN
ftr-443	1018	16	of	of	ADP
ftr-443	1018	17	income	income	NOUN
ftr-443	1018	18	issues	issue	NOUN
ftr-443	1018	19	.	.	PUNCT
ftr-443	1019	1	given	give	VERB
ftr-443	1019	2	the	the	DET
ftr-443	1019	3	initial	initial	ADJ
ftr-443	1019	4	landscape	landscape	NOUN
ftr-443	1019	5	of	of	ADP
ftr-443	1019	6	subchapter	subchapter	NOUN
ftr-443	1019	7	s	s	PART
ftr-443	1019	8	,	,	PUNCT
ftr-443	1019	9	it	it	PRON
ftr-443	1019	10	is	be	AUX
ftr-443	1019	11	surprising	surprising	ADJ
ftr-443	1019	12	that	that	SCONJ
ftr-443	1019	13	congress	congress	PROPN
ftr-443	1019	14	did	do	AUX
ftr-443	1019	15	not	not	PART
ftr-443	1019	16	impose	impose	VERB
ftr-443	1019	17	an	an	DET
ftr-443	1019	18	economic	economic	ADJ
ftr-443	1019	19	size	size	NOUN
ftr-443	1019	20	limitation	limitation	NOUN
ftr-443	1019	21	,	,	PUNCT
ftr-443	1019	22	based	base	VERB
ftr-443	1019	23	,	,	PUNCT
ftr-443	1019	24	for	for	ADP
ftr-443	1019	25	example	example	NOUN
ftr-443	1019	26	,	,	PUNCT
ftr-443	1019	27	on	on	ADP
ftr-443	1019	28	gross	gross	ADJ
ftr-443	1019	29	assets	asset	NOUN
ftr-443	1019	30	or	or	CCONJ
ftr-443	1019	31	receipts	receipt	NOUN
ftr-443	1019	32	.	.	PUNCT
ftr-443	1019	33	'	'	PUNCT
ftr-443	1019	34	"	"	PUNCT
ftr-443	1019	35	early	early	ADJ
ftr-443	1019	36	rumblings	rumbling	NOUN
ftr-443	1019	37	of	of	ADP
ftr-443	1019	38	a	a	DET
ftr-443	1019	39	size	size	NOUN
ftr-443	1019	40	limitation	limitation	NOUN
ftr-443	1019	41	on	on	ADP
ftr-443	1019	42	s	s	NOUN
ftr-443	1019	43	corporations	corporation	NOUN
ftr-443	1019	44	,	,	PUNCT
ftr-443	1019	45	at	at	ADP
ftr-443	1019	46	least	least	ADJ
ftr-443	1019	47	for	for	ADP
ftr-443	1019	48	c	c	NOUN
ftr-443	1019	49	corporations	corporation	NOUN
ftr-443	1019	50	converting	convert	VERB
ftr-443	1019	51	to	to	ADP
ftr-443	1019	52	s	s	PART
ftr-443	1019	53	status	status	NOUN
ftr-443	1019	54	,	,	PUNCT
ftr-443	1019	55	may	may	AUX
ftr-443	1019	56	now	now	ADV
ftr-443	1019	57	be	be	AUX
ftr-443	1019	58	heard	hear	VERB
ftr-443	1019	59	.	.	PUNCT
ftr-443	1019	60	'	'	PUNCT
ftr-443	1020	1	"	"	PUNCT
ftr-443	1020	2	congress	congress	PROPN
ftr-443	1020	3	'	'	PART
ftr-443	1020	4	first	first	ADJ
ftr-443	1020	5	major	major	ADJ
ftr-443	1020	6	changes	change	NOUN
ftr-443	1020	7	,	,	PUNCT
ftr-443	1020	8	the	the	DET
ftr-443	1020	9	subchapter	subchapter	NOUN
ftr-443	1020	10	s	s	PART
ftr-443	1020	11	revision	revision	NOUN
ftr-443	1020	12	act	act	NOUN
ftr-443	1020	13	of	of	ADP
ftr-443	1020	14	1982	1982	NUM
ftr-443	1020	15	,	,	PUNCT
ftr-443	1020	16	occurred	occur	VERB
ftr-443	1020	17	after	after	SCONJ
ftr-443	1020	18	subchapter	subchapter	NOUN
ftr-443	1020	19	s	s	PART
ftr-443	1020	20	had	have	AUX
ftr-443	1020	21	been	be	AUX
ftr-443	1020	22	on	on	ADP
ftr-443	1020	23	the	the	DET
ftr-443	1020	24	books	book	NOUN
ftr-443	1020	25	for	for	ADP
ftr-443	1020	26	24	24	NUM
ftr-443	1020	27	years	year	NOUN
ftr-443	1020	28	.	.	PUNCT
ftr-443	1021	1	67	67	NUM
ftr-443	1021	2	they	they	PRON
ftr-443	1021	3	liberalized	liberalize	VERB
ftr-443	1021	4	the	the	DET
ftr-443	1021	5	eligibility	eligibility	NOUN
ftr-443	1021	6	rules	rule	NOUN
ftr-443	1021	7	,	,	PUNCT
ftr-443	1021	8	authorized	authorize	VERB
ftr-443	1021	9	nonvoting	nonvoting	ADJ
ftr-443	1021	10	common	common	ADJ
ftr-443	1021	11	stock	stock	NOUN
ftr-443	1021	12	,	,	PUNCT
ftr-443	1021	13	and	and	CCONJ
ftr-443	1021	14	introduced	introduce	VERB
ftr-443	1021	15	a	a	DET
ftr-443	1021	16	safe	safe	ADJ
ftr-443	1021	17	harbor	harbor	NOUN
ftr-443	1021	18	for	for	ADP
ftr-443	1021	19	straight	straight	ADJ
ftr-443	1021	20	debt	debt	NOUN
ftr-443	1021	21	.	.	PUNCT
ftr-443	1022	1	the	the	DET
ftr-443	1022	2	rule	rule	NOUN
ftr-443	1022	3	permitting	permit	VERB
ftr-443	1022	4	nonvoting	nonvoting	ADJ
ftr-443	1022	5	common	common	ADJ
ftr-443	1022	6	was	be	AUX
ftr-443	1022	7	long	long	ADV
ftr-443	1022	8	overdue	overdue	ADJ
ftr-443	1022	9	because	because	SCONJ
ftr-443	1022	10	it	it	PRON
ftr-443	1022	11	presented	present	VERB
ftr-443	1022	12	no	no	DET
ftr-443	1022	13	tax	tax	NOUN
ftr-443	1022	14	shifting	shifting	NOUN
ftr-443	1022	15	or	or	CCONJ
ftr-443	1022	16	special	special	ADJ
ftr-443	1022	17	allocation	allocation	NOUN
ftr-443	1022	18	opportunities	opportunity	NOUN
ftr-443	1022	19	.	.	PUNCT
ftr-443	1023	1	the	the	DET
ftr-443	1023	2	straight	straight	ADJ
ftr-443	1023	3	debt	debt	NOUN
ftr-443	1023	4	sale	sale	NOUN
ftr-443	1023	5	harbor	harbor	NOUN
ftr-443	1023	6	allowed	allow	VERB
ftr-443	1023	7	s	s	VERB
ftr-443	1023	8	corporations	corporation	NOUN
ftr-443	1023	9	with	with	ADP
ftr-443	1023	10	less	less	ADV
ftr-443	1023	11	favorable	favorable	ADJ
ftr-443	1023	12	debt	debt	NOUN
ftr-443	1023	13	-	-	PUNCT
ftr-443	1023	14	equity	equity	NOUN
ftr-443	1023	15	ratios	ratio	NOUN
ftr-443	1023	16	to	to	PART
ftr-443	1023	17	avoid	avoid	VERB
ftr-443	1023	18	a	a	DET
ftr-443	1023	19	termination	termination	NOUN
ftr-443	1023	20	for	for	ADP
ftr-443	1023	21	having	have	VERB
ftr-443	1023	22	a	a	DET
ftr-443	1023	23	second	second	ADJ
ftr-443	1023	24	class	class	NOUN
ftr-443	1023	25	of	of	ADP
ftr-443	1023	26	stock	stock	NOUN
ftr-443	1023	27	.	.	PUNCT
ftr-443	1024	1	"es	"es	PROPN
ftr-443	1024	2	also	also	ADV
ftr-443	1024	3	,	,	PUNCT
ftr-443	1024	4	congress	congress	PROPN
ftr-443	1024	5	eliminated	eliminate	VERB
ftr-443	1024	6	the	the	DET
ftr-443	1024	7	sinister	sinister	ADJ
ftr-443	1024	8	rule	rule	NOUN
ftr-443	1024	9	terminating	terminate	VERB
ftr-443	1024	10	s	s	PART
ftr-443	1024	11	status	status	NOUN
ftr-443	1024	12	retroactively	retroactively	ADV
ftr-443	1024	13	to	to	ADP
ftr-443	1024	14	the	the	DET
ftr-443	1024	15	beginning	beginning	NOUN
ftr-443	1024	16	of	of	ADP
ftr-443	1024	17	the	the	DET
ftr-443	1024	18	year	year	NOUN
ftr-443	1024	19	in	in	ADP
ftr-443	1024	20	which	which	PRON
ftr-443	1024	21	a	a	DET
ftr-443	1024	22	termination	termination	NOUN
ftr-443	1024	23	event	event	NOUN
ftr-443	1024	24	occurred	occur	VERB
ftr-443	1024	25	,	,	PUNCT
ftr-443	1024	26	substituting	substitute	VERB
ftr-443	1024	27	rules	rule	NOUN
ftr-443	1024	28	under	under	ADP
ftr-443	1024	29	which	which	PRON
ftr-443	1024	30	a	a	DET
ftr-443	1024	31	termination	termination	NOUN
ftr-443	1024	32	takes	take	VERB
ftr-443	1024	33	effect	effect	NOUN
ftr-443	1024	34	not	not	PART
ftr-443	1024	35	earlier	early	ADV
ftr-443	1024	36	than	than	ADP
ftr-443	1024	37	the	the	DET
ftr-443	1024	38	date	date	NOUN
ftr-443	1024	39	of	of	ADP
ftr-443	1024	40	the	the	DET
ftr-443	1024	41	terminating	terminate	VERB
ftr-443	1024	42	event	event	NOUN
ftr-443	1024	43	.	.	PUNCT
ftr-443	1025	1	165	165	NUM
ftr-443	1025	2	.	.	PUNCT
ftr-443	1026	1	see	see	VERB
ftr-443	1026	2	,	,	PUNCT
ftr-443	1026	3	e.g.	e.g.	ADV
ftr-443	1026	4	,	,	PUNCT
ftr-443	1026	5	irc	irc	PROPN
ftr-443	1026	6	§	§	PROPN
ftr-443	1026	7	§	§	PROPN
ftr-443	1026	8	55(e)(1	55(e)(1	NUM
ftr-443	1026	9	)	)	PUNCT
ftr-443	1026	10	(	(	PUNCT
ftr-443	1026	11	corporation	corporation	NOUN
ftr-443	1026	12	with	with	ADP
ftr-443	1026	13	average	average	ADJ
ftr-443	1026	14	annual	annual	ADJ
ftr-443	1026	15	gross	gross	ADJ
ftr-443	1026	16	receipts	receipt	NOUN
ftr-443	1026	17	for	for	ADP
ftr-443	1026	18	preceding	precede	VERB
ftr-443	1026	19	three	three	NUM
ftr-443	1026	20	years	year	NOUN
ftr-443	1026	21	not	not	PART
ftr-443	1026	22	exceeding	exceed	VERB
ftr-443	1026	23	$	$	SYM
ftr-443	1026	24	7.5	7.5	NUM
ftr-443	1026	25	million	million	NUM
ftr-443	1026	26	exempt	exempt	ADJ
ftr-443	1026	27	from	from	ADP
ftr-443	1026	28	corporate	corporate	ADJ
ftr-443	1026	29	alternative	alternative	ADJ
ftr-443	1026	30	minimum	minimum	ADJ
ftr-443	1026	31	tax	tax	NOUN
ftr-443	1026	32	)	)	PUNCT
ftr-443	1026	33	,	,	PUNCT
ftr-443	1026	34	448(c	448(c	PROPN
ftr-443	1026	35	)	)	PUNCT
ftr-443	1026	36	(	(	PUNCT
ftr-443	1026	37	average	average	ADJ
ftr-443	1026	38	annual	annual	ADJ
ftr-443	1026	39	gross	gross	ADJ
ftr-443	1026	40	receipts	receipt	NOUN
ftr-443	1026	41	ceiling	ceiling	NOUN
ftr-443	1026	42	for	for	ADP
ftr-443	1026	43	using	use	VERB
ftr-443	1026	44	cash	cash	NOUN
ftr-443	1026	45	method	method	NOUN
ftr-443	1026	46	of	of	ADP
ftr-443	1026	47	accounting	accounting	NOUN
ftr-443	1026	48	)	)	PUNCT
ftr-443	1026	49	,	,	PUNCT
ftr-443	1026	50	474(c	474(c	PROPN
ftr-443	1026	51	)	)	PUNCT
ftr-443	1026	52	(	(	PUNCT
ftr-443	1026	53	permitting	permit	VERB
ftr-443	1026	54	certain	certain	ADJ
ftr-443	1026	55	small	small	ADJ
ftr-443	1026	56	businesses	business	NOUN
ftr-443	1026	57	,	,	PUNCT
ftr-443	1026	58	based	base	VERB
ftr-443	1026	59	on	on	ADP
ftr-443	1026	60	gross	gross	ADJ
ftr-443	1026	61	receipts	receipt	NOUN
ftr-443	1026	62	test	test	NOUN
ftr-443	1026	63	used	use	VERB
ftr-443	1026	64	in	in	ADP
ftr-443	1026	65	§	§	PROPN
ftr-443	1026	66	448(c	448(c	PROPN
ftr-443	1026	67	)	)	PUNCT
ftr-443	1026	68	,	,	PUNCT
ftr-443	1026	69	to	to	PART
ftr-443	1026	70	use	use	VERB
ftr-443	1026	71	simplified	simplified	ADJ
ftr-443	1026	72	dollar	dollar	NOUN
ftr-443	1026	73	value	value	NOUN
ftr-443	1026	74	method	method	NOUN
ftr-443	1026	75	of	of	ADP
ftr-443	1026	76	lifo	lifo	NOUN
ftr-443	1026	77	accounting	accounting	NOUN
ftr-443	1026	78	)	)	PUNCT
ftr-443	1026	79	,	,	PUNCT
ftr-443	1026	80	1202(d)(1	1202(d)(1	NUM
ftr-443	1026	81	)	)	PUNCT
ftr-443	1026	82	(	(	PUNCT
ftr-443	1026	83	special	special	ADJ
ftr-443	1026	84	capital	capital	NOUN
ftr-443	1026	85	gains	gain	NOUN
ftr-443	1026	86	exclusion	exclusion	NOUN
ftr-443	1026	87	restricted	restrict	VERB
ftr-443	1026	88	to	to	ADP
ftr-443	1026	89	c	c	NOUN
ftr-443	1026	90	corporations	corporation	NOUN
ftr-443	1026	91	with	with	ADP
ftr-443	1026	92	gross	gross	ADJ
ftr-443	1026	93	assets	asset	NOUN
ftr-443	1026	94	not	not	PART
ftr-443	1026	95	exceeding	exceed	VERB
ftr-443	1026	96	$	$	SYM
ftr-443	1026	97	50	50	NUM
ftr-443	1026	98	million	million	NUM
ftr-443	1026	99	)	)	PUNCT
ftr-443	1026	100	,	,	PUNCT
ftr-443	1026	101	1244(c)(3	1244(c)(3	NUM
ftr-443	1026	102	)	)	PUNCT
ftr-443	1026	103	(	(	PUNCT
ftr-443	1026	104	limitation	limitation	NOUN
ftr-443	1026	105	on	on	ADP
ftr-443	1026	106	ordinary	ordinary	ADJ
ftr-443	1026	107	loss	loss	NOUN
ftr-443	1026	108	treatment	treatment	NOUN
ftr-443	1026	109	with	with	ADP
ftr-443	1026	110	respect	respect	NOUN
ftr-443	1026	111	to	to	ADP
ftr-443	1026	112	stock	stock	NOUN
ftr-443	1026	113	in	in	ADP
ftr-443	1026	114	small	small	ADJ
ftr-443	1026	115	business	business	NOUN
ftr-443	1026	116	corporation	corporation	NOUN
ftr-443	1026	117	based	base	VERB
ftr-443	1026	118	on	on	ADP
ftr-443	1026	119	shareholder	shareholder	NOUN
ftr-443	1026	120	contributions	contribution	NOUN
ftr-443	1026	121	)	)	PUNCT
ftr-443	1026	122	,	,	PUNCT
ftr-443	1026	123	2033a	2033a	NUM
ftr-443	1026	124	(	(	PUNCT
ftr-443	1026	125	federal	federal	ADJ
ftr-443	1026	126	estate	estate	NOUN
ftr-443	1026	127	taxation	taxation	NOUN
ftr-443	1026	128	exclusion	exclusion	NOUN
ftr-443	1026	129	for	for	ADP
ftr-443	1026	130	family	family	NOUN
ftr-443	1026	131	-	-	PUNCT
ftr-443	1026	132	owned	own	VERB
ftr-443	1026	133	business	business	NOUN
ftr-443	1026	134	interests	interest	NOUN
ftr-443	1026	135	limited	limit	VERB
ftr-443	1026	136	by	by	ADP
ftr-443	1026	137	dollar	dollar	NOUN
ftr-443	1026	138	value	value	NOUN
ftr-443	1026	139	)	)	PUNCT
ftr-443	1026	140	.	.	PUNCT
ftr-443	1027	1	166	166	NUM
ftr-443	1027	2	.	.	PUNCT
ftr-443	1028	1	president	president	PROPN
ftr-443	1028	2	clinton	clinton	PROPN
ftr-443	1028	3	,	,	PUNCT
ftr-443	1028	4	in	in	ADP
ftr-443	1028	5	his	his	PRON
ftr-443	1028	6	package	package	NOUN
ftr-443	1028	7	of	of	ADP
ftr-443	1028	8	budget	budget	NOUN
ftr-443	1028	9	proposals	proposal	NOUN
ftr-443	1028	10	issued	issue	VERB
ftr-443	1028	11	on	on	ADP
ftr-443	1028	12	february	february	PROPN
ftr-443	1028	13	10	10	NUM
ftr-443	1028	14	,	,	PUNCT
ftr-443	1028	15	1997	1997	NUM
ftr-443	1028	16	,	,	PUNCT
ftr-443	1028	17	recommended	recommend	VERB
ftr-443	1028	18	that	that	SCONJ
ftr-443	1028	19	a	a	DET
ftr-443	1028	20	c	c	NOUN
ftr-443	1028	21	to	to	PART
ftr-443	1028	22	s	s	PRON
ftr-443	1028	23	conversion	conversion	NOUN
ftr-443	1028	24	be	be	AUX
ftr-443	1028	25	treated	treat	VERB
ftr-443	1028	26	as	as	ADP
ftr-443	1028	27	a	a	DET
ftr-443	1028	28	deemed	deemed	ADJ
ftr-443	1028	29	liquidation	liquidation	NOUN
ftr-443	1028	30	if	if	SCONJ
ftr-443	1028	31	the	the	DET
ftr-443	1028	32	corporation	corporation	NOUN
ftr-443	1028	33	had	have	VERB
ftr-443	1028	34	a	a	DET
ftr-443	1028	35	value	value	NOUN
ftr-443	1028	36	exceeding	exceed	VERB
ftr-443	1028	37	$	$	SYM
ftr-443	1028	38	5	5	NUM
ftr-443	1028	39	million	million	NUM
ftr-443	1028	40	at	at	ADP
ftr-443	1028	41	the	the	DET
ftr-443	1028	42	time	time	NOUN
ftr-443	1028	43	of	of	ADP
ftr-443	1028	44	the	the	DET
ftr-443	1028	45	conversion	conversion	NOUN
ftr-443	1028	46	.	.	PUNCT
ftr-443	1029	1	the	the	DET
ftr-443	1029	2	proposal	proposal	NOUN
ftr-443	1029	3	,	,	PUNCT
ftr-443	1029	4	which	which	PRON
ftr-443	1029	5	the	the	DET
ftr-443	1029	6	administration	administration	NOUN
ftr-443	1029	7	later	later	ADV
ftr-443	1029	8	dropped	drop	VERB
ftr-443	1029	9	,	,	PUNCT
ftr-443	1029	10	would	would	AUX
ftr-443	1029	11	have	have	AUX
ftr-443	1029	12	repealed	repeal	VERB
ftr-443	1029	13	the	the	DET
ftr-443	1029	14	built	build	VERB
ftr-443	1029	15	-	-	PUNCT
ftr-443	1029	16	in	in	ADP
ftr-443	1029	17	gains	gain	NOUN
ftr-443	1029	18	tax	tax	NOUN
ftr-443	1029	19	for	for	ADP
ftr-443	1029	20	corporations	corporation	NOUN
ftr-443	1029	21	subject	subject	ADJ
ftr-443	1029	22	to	to	ADP
ftr-443	1029	23	this	this	DET
ftr-443	1029	24	rule	rule	NOUN
ftr-443	1029	25	.	.	PUNCT
ftr-443	1030	1	see	see	VERB
ftr-443	1030	2	jerald	jerald	PROPN
ftr-443	1030	3	d.	d.	PROPN
ftr-443	1030	4	august	august	PROPN
ftr-443	1030	5	,	,	PUNCT
ftr-443	1030	6	the	the	DET
ftr-443	1030	7	proposed	propose	VERB
ftr-443	1030	8	blockade	blockade	NOUN
ftr-443	1030	9	of	of	ADP
ftr-443	1030	10	c	c	NOUN
ftr-443	1030	11	to	to	ADP
ftr-443	1030	12	s	s	PROPN
ftr-443	1030	13	conversions	conversion	NOUN
ftr-443	1030	14	:	:	PUNCT
ftr-443	1030	15	the	the	DET
ftr-443	1030	16	application	application	NOUN
ftr-443	1030	17	of	of	ADP
ftr-443	1030	18	gunboat	gunboat	NOUN
ftr-443	1030	19	diplomacy	diplomacy	NOUN
ftr-443	1030	20	to	to	ADP
ftr-443	1030	21	corporate	corporate	ADJ
ftr-443	1030	22	taxation	taxation	NOUN
ftr-443	1030	23	,	,	PUNCT
ftr-443	1030	24	9	9	NUM
ftr-443	1030	25	j.	j.	PROPN
ftr-443	1030	26	s	s	PROPN
ftr-443	1030	27	corp	corp	PROPN
ftr-443	1030	28	.	.	PROPN
ftr-443	1031	1	tax'n	tax'n	ADP
ftr-443	1031	2	107	107	NUM
ftr-443	1031	3	(	(	PUNCT
ftr-443	1031	4	1997	1997	NUM
ftr-443	1031	5	)	)	PUNCT
ftr-443	1031	6	.	.	PUNCT
ftr-443	1032	1	167	167	NUM
ftr-443	1032	2	.	.	PUNCT
ftr-443	1032	3	see	see	VERB
ftr-443	1032	4	subchapter	subchapter	NOUN
ftr-443	1032	5	s	s	PART
ftr-443	1032	6	revision	revision	NOUN
ftr-443	1032	7	act	act	NOUN
ftr-443	1032	8	of	of	ADP
ftr-443	1032	9	1982	1982	NUM
ftr-443	1032	10	,	,	PUNCT
ftr-443	1032	11	pub	pub	NOUN
ftr-443	1032	12	.	.	PUNCT
ftr-443	1033	1	l	l	NOUN
ftr-443	1034	1	no	no	INTJ
ftr-443	1034	2	.	.	NOUN
ftr-443	1035	1	97	97	NUM
ftr-443	1035	2	-	-	SYM
ftr-443	1035	3	354	354	NUM
ftr-443	1035	4	,	,	PUNCT
ftr-443	1035	5	§	§	PROPN
ftr-443	1035	6	1361	1361	NUM
ftr-443	1035	7	,	,	PUNCT
ftr-443	1035	8	96	96	NUM
ftr-443	1035	9	star	star	NOUN
ftr-443	1035	10	.	.	PUNCT
ftr-443	1036	1	1669	1669	NUM
ftr-443	1036	2	(	(	PUNCT
ftr-443	1036	3	1982	1982	NUM
ftr-443	1036	4	)	)	PUNCT
ftr-443	1036	5	.	.	PUNCT
ftr-443	1037	1	many	many	ADJ
ftr-443	1037	2	of	of	ADP
ftr-443	1037	3	the	the	DET
ftr-443	1037	4	1982	1982	NUM
ftr-443	1037	5	changes	change	NOUN
ftr-443	1037	6	were	be	AUX
ftr-443	1037	7	recommended	recommend	VERB
ftr-443	1037	8	in	in	ADP
ftr-443	1037	9	staff	staff	NOUN
ftr-443	1037	10	of	of	ADP
ftr-443	1037	11	the	the	DET
ftr-443	1037	12	joint	joint	ADJ
ftr-443	1037	13	committee	committee	NOUN
ftr-443	1037	14	on	on	ADP
ftr-443	1037	15	taxation	taxation	NOUN
ftr-443	1037	16	:	:	PUNCT
ftr-443	1037	17	recommendations	recommendation	NOUN
ftr-443	1037	18	for	for	ADP
ftr-443	1037	19	simplification	simplification	NOUN
ftr-443	1037	20	of	of	ADP
ftr-443	1037	21	tax	tax	NOUN
ftr-443	1037	22	rules	rule	NOUN
ftr-443	1037	23	relating	relate	VERB
ftr-443	1037	24	to	to	ADP
ftr-443	1037	25	subchapter	subchapter	NOUN
ftr-443	1037	26	s	s	PART
ftr-443	1037	27	corporations	corporation	NOUN
ftr-443	1037	28	,	,	PUNCT
ftr-443	1037	29	96th	96th	ADJ
ftr-443	1037	30	cong	cong	NOUN
ftr-443	1037	31	.	.	PROPN
ftr-443	1037	32	,	,	PUNCT
ftr-443	1037	33	2d	2d	NUM
ftr-443	1037	34	sess	sess	NOUN
ftr-443	1037	35	.	.	PUNCT
ftr-443	1038	1	(	(	PUNCT
ftr-443	1038	2	comm	comm	NOUN
ftr-443	1038	3	.	.	PUNCT
ftr-443	1039	1	print	print	NOUN
ftr-443	1039	2	1978	1978	NUM
ftr-443	1039	3	)	)	PUNCT
ftr-443	1039	4	.	.	PUNCT
ftr-443	1040	1	earlier	early	ADV
ftr-443	1040	2	,	,	PUNCT
ftr-443	1040	3	in	in	ADP
ftr-443	1040	4	1969	1969	NUM
ftr-443	1040	5	,	,	PUNCT
ftr-443	1040	6	the	the	DET
ftr-443	1040	7	treasury	treasury	NOUN
ftr-443	1040	8	proposed	propose	VERB
ftr-443	1040	9	subchapter	subchapter	NOUN
ftr-443	1040	10	s	s	PART
ftr-443	1040	11	reform	reform	NOUN
ftr-443	1040	12	.	.	PUNCT
ftr-443	1041	1	u.s	u.s	PROPN
ftr-443	1041	2	.	.	PROPN
ftr-443	1041	3	treasury	treasury	PROPN
ftr-443	1041	4	dep't	dep't	PROPN
ftr-443	1041	5	,	,	PUNCT
ftr-443	1041	6	technical	technical	ADJ
ftr-443	1041	7	explanation	explanation	NOUN
ftr-443	1041	8	of	of	ADP
ftr-443	1041	9	treasury	treasury	PROPN
ftr-443	1041	10	reform	reform	NOUN
ftr-443	1041	11	proposals	proposal	NOUN
ftr-443	1041	12	:	:	PUNCT
ftr-443	1041	13	hearings	hearing	NOUN
ftr-443	1041	14	before	before	ADP
ftr-443	1041	15	the	the	DET
ftr-443	1041	16	house	house	NOUN
ftr-443	1041	17	comm	comm	NOUN
ftr-443	1041	18	.	.	PUNCT
ftr-443	1042	1	on	on	ADP
ftr-443	1042	2	ways	way	NOUN
ftr-443	1042	3	and	and	CCONJ
ftr-443	1042	4	means	mean	NOUN
ftr-443	1042	5	,	,	PUNCT
ftr-443	1042	6	91st	91st	ADJ
ftr-443	1042	7	cong	cong	NOUN
ftr-443	1042	8	.	.	PUNCT
ftr-443	1042	9	,	,	PUNCT
ftr-443	1042	10	1st	1st	ADJ
ftr-443	1042	11	sess	sess	NOUN
ftr-443	1042	12	.	.	PUNCT
ftr-443	1043	1	5228	5228	NUM
ftr-443	1043	2	(	(	PUNCT
ftr-443	1043	3	1969	1969	NUM
ftr-443	1043	4	)	)	PUNCT
ftr-443	1043	5	.	.	PUNCT
ftr-443	1044	1	the	the	DET
ftr-443	1044	2	tax	tax	NOUN
ftr-443	1044	3	reform	reform	PROPN
ftr-443	1044	4	act	act	NOUN
ftr-443	1044	5	of	of	ADP
ftr-443	1044	6	1976	1976	NUM
ftr-443	1044	7	made	make	VERB
ftr-443	1044	8	minor	minor	ADJ
ftr-443	1044	9	fixes	fix	NOUN
ftr-443	1044	10	to	to	PART
ftr-443	1044	11	subchapter	subchapter	VERB
ftr-443	1044	12	s	s	PART
ftr-443	1044	13	,	,	PUNCT
ftr-443	1044	14	most	most	ADV
ftr-443	1044	15	notably	notably	ADV
ftr-443	1044	16	the	the	DET
ftr-443	1044	17	rules	rule	NOUN
ftr-443	1044	18	permitting	permit	VERB
ftr-443	1044	19	grantor	grantor	NOUN
ftr-443	1044	20	trusts	trust	NOUN
ftr-443	1044	21	,	,	PUNCT
ftr-443	1044	22	voting	voting	NOUN
ftr-443	1044	23	trusts	trust	NOUN
ftr-443	1044	24	,	,	PUNCT
ftr-443	1044	25	and	and	CCONJ
ftr-443	1044	26	some	some	DET
ftr-443	1044	27	testamentary	testamentary	ADJ
ftr-443	1044	28	trusts	trust	VERB
ftr-443	1044	29	to	to	PART
ftr-443	1044	30	be	be	AUX
ftr-443	1044	31	shareholders	shareholder	NOUN
ftr-443	1044	32	.	.	PUNCT
ftr-443	1045	1	168	168	NUM
ftr-443	1045	2	.	.	PUNCT
ftr-443	1046	1	straight	straight	ADJ
ftr-443	1046	2	debt	debt	NOUN
ftr-443	1046	3	may	may	AUX
ftr-443	1046	4	,	,	PUNCT
ftr-443	1046	5	however	however	ADV
ftr-443	1046	6	,	,	PUNCT
ftr-443	1046	7	be	be	AUX
ftr-443	1046	8	equity	equity	NOUN
ftr-443	1046	9	for	for	ADP
ftr-443	1046	10	other	other	ADJ
ftr-443	1046	11	purposes	purpose	NOUN
ftr-443	1046	12	.	.	PUNCT
ftr-443	1047	1	see	see	VERB
ftr-443	1047	2	irc	irc	PROPN
ftr-443	1047	3	§	§	PROPN
ftr-443	1047	4	385	385	NUM
ftr-443	1047	5	.	.	PUNCT
ftr-443	1048	1	1999	1999	NUM
ftr-443	1048	2	]	]	PUNCT
ftr-443	1049	1	florida	florida	PROPN
ftr-443	1049	2	tax	tax	PROPN
ftr-443	1049	3	review	review	NOUN
ftr-443	1049	4	the	the	DET
ftr-443	1049	5	1982	1982	NUM
ftr-443	1049	6	reforms	reform	NOUN
ftr-443	1049	7	substantially	substantially	ADV
ftr-443	1049	8	streamlined	streamline	VERB
ftr-443	1049	9	the	the	DET
ftr-443	1049	10	distribution	distribution	NOUN
ftr-443	1049	11	rules	rule	NOUN
ftr-443	1049	12	,	,	PUNCT
ftr-443	1049	13	replacing	replace	VERB
ftr-443	1049	14	a	a	DET
ftr-443	1049	15	byzantine	byzantine	ADJ
ftr-443	1049	16	set	set	NOUN
ftr-443	1049	17	of	of	ADP
ftr-443	1049	18	distribution	distribution	NOUN
ftr-443	1049	19	tiers	tier	NOUN
ftr-443	1049	20	,	,	PUNCT
ftr-443	1049	21	first	first	ADV
ftr-443	1049	22	separated	separate	VERB
ftr-443	1049	23	into	into	ADP
ftr-443	1049	24	money	money	NOUN
ftr-443	1049	25	versus	versus	ADP
ftr-443	1049	26	property	property	NOUN
ftr-443	1049	27	categories	category	NOUN
ftr-443	1049	28	,	,	PUNCT
ftr-443	1049	29	in	in	ADP
ftr-443	1049	30	determining	determine	VERB
ftr-443	1049	31	whether	whether	SCONJ
ftr-443	1049	32	a	a	DET
ftr-443	1049	33	distribution	distribution	NOUN
ftr-443	1049	34	was	be	AUX
ftr-443	1049	35	a	a	DET
ftr-443	1049	36	return	return	NOUN
ftr-443	1049	37	of	of	ADP
ftr-443	1049	38	basis	basis	NOUN
ftr-443	1049	39	,	,	PUNCT
ftr-443	1049	40	a	a	DET
ftr-443	1049	41	distribution	distribution	NOUN
ftr-443	1049	42	in	in	ADP
ftr-443	1049	43	excess	excess	NOUN
ftr-443	1049	44	of	of	ADP
ftr-443	1049	45	basis	basis	NOUN
ftr-443	1049	46	,	,	PUNCT
ftr-443	1049	47	or	or	CCONJ
ftr-443	1049	48	a	a	DET
ftr-443	1049	49	dividend	dividend	NOUN
ftr-443	1049	50	from	from	ADP
ftr-443	1049	51	earnings	earning	NOUN
ftr-443	1049	52	and	and	CCONJ
ftr-443	1049	53	profits	profit	NOUN
ftr-443	1049	54	from	from	ADP
ftr-443	1049	55	c	c	NOUN
ftr-443	1049	56	or	or	CCONJ
ftr-443	1049	57	even	even	ADV
ftr-443	1049	58	s	s	PART
ftr-443	1049	59	years	year	NOUN
ftr-443	1049	60	.	.	PUNCT
ftr-443	1050	1	69	69	NUM
ftr-443	1050	2	finally	finally	ADV
ftr-443	1050	3	,	,	PUNCT
ftr-443	1050	4	losses	loss	NOUN
ftr-443	1050	5	in	in	ADP
ftr-443	1050	6	excess	excess	NOUN
ftr-443	1050	7	of	of	ADP
ftr-443	1050	8	a	a	DET
ftr-443	1050	9	shareholder	shareholder	NOUN
ftr-443	1050	10	's	's	PART
ftr-443	1050	11	stock	stock	NOUN
ftr-443	1050	12	and	and	CCONJ
ftr-443	1050	13	debt	debt	NOUN
ftr-443	1050	14	basis	basis	NOUN
ftr-443	1050	15	are	be	AUX
ftr-443	1050	16	not	not	PART
ftr-443	1050	17	vaporized	vaporize	VERB
ftr-443	1050	18	forever	forever	ADV
ftr-443	1050	19	as	as	ADP
ftr-443	1050	20	under	under	ADP
ftr-443	1050	21	prior	prior	ADJ
ftr-443	1050	22	law	law	NOUN
ftr-443	1050	23	,	,	PUNCT
ftr-443	1050	24	but	but	CCONJ
ftr-443	1050	25	may	may	AUX
ftr-443	1050	26	now	now	ADV
ftr-443	1050	27	be	be	AUX
ftr-443	1050	28	carried	carry	VERB
ftr-443	1050	29	forward	forward	ADV
ftr-443	1050	30	indefinitely	indefinitely	ADV
ftr-443	1050	31	,	,	PUNCT
ftr-443	1050	32	although	although	SCONJ
ftr-443	1050	33	they	they	PRON
ftr-443	1050	34	are	be	AUX
ftr-443	1050	35	not	not	PART
ftr-443	1050	36	transferable	transferable	ADJ
ftr-443	1050	37	and	and	CCONJ
ftr-443	1050	38	,	,	PUNCT
ftr-443	1050	39	until	until	ADP
ftr-443	1050	40	1996	1996	NUM
ftr-443	1050	41	,	,	PUNCT
ftr-443	1050	42	could	could	AUX
ftr-443	1050	43	not	not	PART
ftr-443	1050	44	be	be	AUX
ftr-443	1050	45	used	use	VERB
ftr-443	1050	46	against	against	ADP
ftr-443	1050	47	gain	gain	NOUN
ftr-443	1050	48	from	from	ADP
ftr-443	1050	49	a	a	DET
ftr-443	1050	50	sale	sale	NOUN
ftr-443	1050	51	of	of	ADP
ftr-443	1050	52	stock	stock	NOUN
ftr-443	1050	53	.	.	PUNCT
ftr-443	1051	1	the	the	DET
ftr-443	1051	2	next	next	ADJ
ftr-443	1051	3	wave	wave	NOUN
ftr-443	1051	4	of	of	ADP
ftr-443	1051	5	subchapter	subchapter	NOUN
ftr-443	1051	6	s	s	PART
ftr-443	1051	7	legislation	legislation	NOUN
ftr-443	1051	8	occurred	occur	VERB
ftr-443	1051	9	in	in	ADP
ftr-443	1051	10	1986	1986	NUM
ftr-443	1051	11	.	.	PUNCT
ftr-443	1052	1	before	before	ADP
ftr-443	1052	2	1986	1986	NUM
ftr-443	1052	3	,	,	PUNCT
ftr-443	1052	4	a	a	DET
ftr-443	1052	5	former	former	ADJ
ftr-443	1052	6	c	c	NOUN
ftr-443	1052	7	corporation	corporation	NOUN
ftr-443	1052	8	was	be	AUX
ftr-443	1052	9	subject	subject	ADJ
ftr-443	1052	10	to	to	ADP
ftr-443	1052	11	a	a	DET
ftr-443	1052	12	corporate	corporate	ADJ
ftr-443	1052	13	tax	tax	NOUN
ftr-443	1052	14	on	on	ADP
ftr-443	1052	15	its	its	PRON
ftr-443	1052	16	capital	capital	NOUN
ftr-443	1052	17	gains	gain	NOUN
ftr-443	1052	18	in	in	ADP
ftr-443	1052	19	excess	excess	NOUN
ftr-443	1052	20	of	of	ADP
ftr-443	1052	21	$	$	SYM
ftr-443	1052	22	25,000	25,000	NUM
ftr-443	1052	23	for	for	ADP
ftr-443	1052	24	the	the	DET
ftr-443	1052	25	three	three	NUM
ftr-443	1052	26	years	year	NOUN
ftr-443	1052	27	following	follow	VERB
ftr-443	1052	28	a	a	DET
ftr-443	1052	29	conversion	conversion	NOUN
ftr-443	1052	30	to	to	ADP
ftr-443	1052	31	s	s	NOUN
ftr-443	1052	32	status	status	NOUN
ftr-443	1052	33	.	.	PUNCT
ftr-443	1052	34	'	'	PUNCT
ftr-443	1053	1	the	the	DET
ftr-443	1053	2	tax	tax	NOUN
ftr-443	1053	3	was	be	AUX
ftr-443	1053	4	designed	design	VERB
ftr-443	1053	5	to	to	PART
ftr-443	1053	6	prevent	prevent	VERB
ftr-443	1053	7	one	one	NUM
ftr-443	1053	8	-	-	PUNCT
ftr-443	1053	9	shot	shot	NOUN
ftr-443	1053	10	s	s	PART
ftr-443	1053	11	elections	election	NOUN
ftr-443	1053	12	in	in	ADP
ftr-443	1053	13	order	order	NOUN
ftr-443	1053	14	to	to	PART
ftr-443	1053	15	bail	bail	VERB
ftr-443	1053	16	out	out	ADP
ftr-443	1053	17	large	large	ADJ
ftr-443	1053	18	appreciated	appreciated	ADJ
ftr-443	1053	19	assets	asset	NOUN
ftr-443	1053	20	at	at	ADP
ftr-443	1053	21	a	a	DET
ftr-443	1053	22	single	single	ADJ
ftr-443	1053	23	round	round	NOUN
ftr-443	1053	24	of	of	ADP
ftr-443	1053	25	capital	capital	NOUN
ftr-443	1053	26	gains	gain	NOUN
ftr-443	1053	27	tax	tax	NOUN
ftr-443	1053	28	.	.	PUNCT
ftr-443	1054	1	the	the	DET
ftr-443	1054	2	bite	bite	NOUN
ftr-443	1054	3	of	of	ADP
ftr-443	1054	4	former	former	ADJ
ftr-443	1054	5	section	section	NOUN
ftr-443	1054	6	1374	1374	NUM
ftr-443	1054	7	was	be	AUX
ftr-443	1054	8	not	not	PART
ftr-443	1054	9	as	as	ADV
ftr-443	1054	10	strong	strong	ADJ
ftr-443	1054	11	as	as	ADP
ftr-443	1054	12	its	its	PRON
ftr-443	1054	13	bark	bark	NOUN
ftr-443	1054	14	.	.	PUNCT
ftr-443	1054	15	'	'	PUNCT
ftr-443	1055	1	the	the	DET
ftr-443	1055	2	1986	1986	NUM
ftr-443	1055	3	legislation	legislation	NOUN
ftr-443	1055	4	repealed	repeal	VERB
ftr-443	1055	5	the	the	DET
ftr-443	1055	6	general	general	ADJ
ftr-443	1055	7	utilities	utility	NOUN
ftr-443	1055	8	doctrine	doctrine	NOUN
ftr-443	1055	9	,	,	PUNCT
ftr-443	1055	10	substituting	substitute	VERB
ftr-443	1055	11	rules	rule	NOUN
ftr-443	1055	12	requiring	require	VERB
ftr-443	1055	13	corporations	corporation	NOUN
ftr-443	1055	14	to	to	PART
ftr-443	1055	15	recognize	recognize	VERB
ftr-443	1055	16	gain	gain	NOUN
ftr-443	1055	17	on	on	ADP
ftr-443	1055	18	distributions	distribution	NOUN
ftr-443	1055	19	of	of	ADP
ftr-443	1055	20	appreciated	appreciated	ADJ
ftr-443	1055	21	property	property	NOUN
ftr-443	1055	22	to	to	ADP
ftr-443	1055	23	shareholders	shareholder	NOUN
ftr-443	1055	24	.	.	PUNCT
ftr-443	1056	1	'72	'72	NUM
ftr-443	1056	2	in	in	ADP
ftr-443	1056	3	order	order	NOUN
ftr-443	1056	4	to	to	PART
ftr-443	1056	5	prevent	prevent	VERB
ftr-443	1056	6	c	c	PROPN
ftr-443	1056	7	to	to	ADP
ftr-443	1056	8	s	s	PROPN
ftr-443	1056	9	conversions	conversion	NOUN
ftr-443	1056	10	from	from	ADP
ftr-443	1056	11	being	be	AUX
ftr-443	1056	12	a	a	DET
ftr-443	1056	13	means	means	NOUN
ftr-443	1056	14	of	of	ADP
ftr-443	1056	15	avoiding	avoid	VERB
ftr-443	1056	16	general	general	ADJ
ftr-443	1056	17	utilities	utility	NOUN
ftr-443	1056	18	repeal	repeal	NOUN
ftr-443	1056	19	,	,	PUNCT
ftr-443	1056	20	a	a	DET
ftr-443	1056	21	more	more	ADV
ftr-443	1056	22	imposing	impose	VERB
ftr-443	1056	23	backstop	backstop	NOUN
ftr-443	1056	24	than	than	ADP
ftr-443	1056	25	former	former	ADJ
ftr-443	1056	26	section	section	NOUN
ftr-443	1056	27	1374	1374	NUM
ftr-443	1056	28	was	be	AUX
ftr-443	1056	29	needed	need	VERB
ftr-443	1056	30	.	.	PUNCT
ftr-443	1057	1	as	as	SCONJ
ftr-443	1057	2	revised	revise	VERB
ftr-443	1057	3	in	in	ADP
ftr-443	1057	4	1986	1986	NUM
ftr-443	1057	5	,	,	PUNCT
ftr-443	1057	6	section	section	NOUN
ftr-443	1057	7	1374	1374	NUM
ftr-443	1057	8	imposes	impose	VERB
ftr-443	1057	9	corporate	corporate	ADJ
ftr-443	1057	10	tax	tax	NOUN
ftr-443	1057	11	on	on	ADP
ftr-443	1057	12	the	the	DET
ftr-443	1057	13	built	build	VERB
ftr-443	1057	14	-	-	PUNCT
ftr-443	1057	15	in	in	ADP
ftr-443	1057	16	appreciation	appreciation	NOUN
ftr-443	1057	17	in	in	ADP
ftr-443	1057	18	corporate	corporate	ADJ
ftr-443	1057	19	assets	asset	NOUN
ftr-443	1057	20	at	at	ADP
ftr-443	1057	21	the	the	DET
ftr-443	1057	22	time	time	NOUN
ftr-443	1057	23	of	of	ADP
ftr-443	1057	24	a	a	DET
ftr-443	1057	25	c	c	NOUN
ftr-443	1057	26	to	to	ADP
ftr-443	1057	27	s	s	PRON
ftr-443	1057	28	conversion	conversion	NOUN
ftr-443	1057	29	if	if	SCONJ
ftr-443	1057	30	these	these	DET
ftr-443	1057	31	assets	asset	NOUN
ftr-443	1057	32	are	be	AUX
ftr-443	1057	33	sold	sell	VERB
ftr-443	1057	34	or	or	CCONJ
ftr-443	1057	35	otherwise	otherwise	ADV
ftr-443	1057	36	169	169	NUM
ftr-443	1057	37	.	.	PUNCT
ftr-443	1058	1	the	the	DET
ftr-443	1058	2	1982	1982	NUM
ftr-443	1058	3	revisions	revision	NOUN
ftr-443	1058	4	made	make	VERB
ftr-443	1058	5	it	it	PRON
ftr-443	1058	6	impossible	impossible	ADJ
ftr-443	1058	7	for	for	SCONJ
ftr-443	1058	8	a	a	DET
ftr-443	1058	9	corporation	corporation	NOUN
ftr-443	1058	10	to	to	PART
ftr-443	1058	11	have	have	VERB
ftr-443	1058	12	earnings	earning	NOUN
ftr-443	1058	13	and	and	CCONJ
ftr-443	1058	14	profits	profit	NOUN
ftr-443	1058	15	for	for	ADP
ftr-443	1058	16	an	an	DET
ftr-443	1058	17	s	s	NOUN
ftr-443	1058	18	year	year	NOUN
ftr-443	1058	19	,	,	PUNCT
ftr-443	1058	20	and	and	CCONJ
ftr-443	1058	21	in	in	ADP
ftr-443	1058	22	1996	1996	NUM
ftr-443	1058	23	,	,	PUNCT
ftr-443	1058	24	congress	congress	PROPN
ftr-443	1058	25	allowed	allow	VERB
ftr-443	1058	26	s	s	PRON
ftr-443	1058	27	corporations	corporation	NOUN
ftr-443	1058	28	to	to	PART
ftr-443	1058	29	eliminate	eliminate	VERB
ftr-443	1058	30	earnings	earning	NOUN
ftr-443	1058	31	and	and	CCONJ
ftr-443	1058	32	profits	profit	NOUN
ftr-443	1058	33	accumulated	accumulate	VERB
ftr-443	1058	34	in	in	ADP
ftr-443	1058	35	pre-1983	pre-1983	NOUN
ftr-443	1058	36	s	s	PART
ftr-443	1058	37	years	year	NOUN
ftr-443	1058	38	.	.	PUNCT
ftr-443	1059	1	see	see	VERB
ftr-443	1059	2	small	small	ADJ
ftr-443	1059	3	business	business	NOUN
ftr-443	1059	4	jobs	job	NOUN
ftr-443	1059	5	protection	protection	PROPN
ftr-443	1059	6	act	act	PROPN
ftr-443	1059	7	§	§	PROPN
ftr-443	1059	8	1311	1311	NUM
ftr-443	1059	9	.	.	PUNCT
ftr-443	1060	1	170	170	NUM
ftr-443	1060	2	.	.	PUNCT
ftr-443	1061	1	see	see	VERB
ftr-443	1061	2	irc	irc	ADV
ftr-443	1061	3	§	§	PROPN
ftr-443	1061	4	1374	1374	NUM
ftr-443	1061	5	(	(	PUNCT
ftr-443	1061	6	before	before	ADP
ftr-443	1061	7	amendment	amendment	NOUN
ftr-443	1061	8	in	in	ADP
ftr-443	1061	9	1986	1986	NUM
ftr-443	1061	10	)	)	PUNCT
ftr-443	1061	11	.	.	PUNCT
ftr-443	1062	1	171	171	NUM
ftr-443	1062	2	.	.	PUNCT
ftr-443	1063	1	the	the	DET
ftr-443	1063	2	most	most	ADV
ftr-443	1063	3	common	common	ADJ
ftr-443	1063	4	technique	technique	NOUN
ftr-443	1063	5	for	for	ADP
ftr-443	1063	6	circumventing	circumvent	VERB
ftr-443	1063	7	former	former	ADJ
ftr-443	1063	8	§	§	PROPN
ftr-443	1063	9	1374	1374	NUM
ftr-443	1063	10	was	be	AUX
ftr-443	1063	11	an	an	DET
ftr-443	1063	12	installment	installment	NOUN
ftr-443	1063	13	sale	sale	NOUN
ftr-443	1063	14	providing	provide	VERB
ftr-443	1063	15	for	for	ADP
ftr-443	1063	16	minimal	minimal	ADJ
ftr-443	1063	17	,	,	PUNCT
ftr-443	1063	18	if	if	SCONJ
ftr-443	1063	19	any	any	PRON
ftr-443	1063	20	,	,	PUNCT
ftr-443	1063	21	principal	principal	ADJ
ftr-443	1063	22	payments	payment	NOUN
ftr-443	1063	23	during	during	ADP
ftr-443	1063	24	the	the	DET
ftr-443	1063	25	three	three	NUM
ftr-443	1063	26	years	year	NOUN
ftr-443	1063	27	following	follow	VERB
ftr-443	1063	28	the	the	DET
ftr-443	1063	29	conversion	conversion	NOUN
ftr-443	1063	30	.	.	PUNCT
ftr-443	1064	1	a	a	DET
ftr-443	1064	2	balloon	balloon	NOUN
ftr-443	1064	3	payment	payment	NOUN
ftr-443	1064	4	in	in	ADP
ftr-443	1064	5	year	year	NOUN
ftr-443	1064	6	four	four	NUM
ftr-443	1064	7	would	would	AUX
ftr-443	1064	8	not	not	PART
ftr-443	1064	9	be	be	AUX
ftr-443	1064	10	subject	subject	ADJ
ftr-443	1064	11	to	to	ADP
ftr-443	1064	12	the	the	DET
ftr-443	1064	13	corporate	corporate	ADJ
ftr-443	1064	14	tax	tax	NOUN
ftr-443	1064	15	.	.	PUNCT
ftr-443	1065	1	this	this	DET
ftr-443	1065	2	strategy	strategy	NOUN
ftr-443	1065	3	was	be	AUX
ftr-443	1065	4	specifically	specifically	ADV
ftr-443	1065	5	stripped	strip	VERB
ftr-443	1065	6	of	of	ADP
ftr-443	1065	7	its	its	PRON
ftr-443	1065	8	effectiveness	effectiveness	NOUN
ftr-443	1065	9	shortly	shortly	ADV
ftr-443	1065	10	after	after	ADP
ftr-443	1065	11	enactment	enactment	NOUN
ftr-443	1065	12	of	of	ADP
ftr-443	1065	13	the	the	DET
ftr-443	1065	14	1986	1986	NUM
ftr-443	1065	15	legislation	legislation	NOUN
ftr-443	1065	16	.	.	PUNCT
ftr-443	1066	1	see	see	VERB
ftr-443	1066	2	announcement	announcement	NOUN
ftr-443	1066	3	86	86	NUM
ftr-443	1066	4	-	-	SYM
ftr-443	1066	5	128	128	NUM
ftr-443	1066	6	,	,	PUNCT
ftr-443	1066	7	1986	1986	NUM
ftr-443	1066	8	-	-	SYM
ftr-443	1066	9	51	51	NUM
ftr-443	1066	10	i.r.b	i.r.b	NOUN
ftr-443	1066	11	.	.	PUNCT
ftr-443	1067	1	22	22	NUM
ftr-443	1067	2	.	.	PUNCT
ftr-443	1068	1	see	see	VERB
ftr-443	1068	2	jerald	jerald	PROPN
ftr-443	1068	3	david	david	PROPN
ftr-443	1068	4	august	august	PROPN
ftr-443	1068	5	,	,	PUNCT
ftr-443	1068	6	the	the	DET
ftr-443	1068	7	'	'	PUNCT
ftr-443	1068	8	big	big	ADJ
ftr-443	1068	9	'	'	PUNCT
ftr-443	1068	10	tax	tax	NOUN
ftr-443	1068	11	under	under	ADP
ftr-443	1068	12	section	section	NOUN
ftr-443	1068	13	1374	1374	NUM
ftr-443	1068	14	:	:	PUNCT
ftr-443	1068	15	blocking	block	VERB
ftr-443	1068	16	the	the	DET
ftr-443	1068	17	erosion	erosion	NOUN
ftr-443	1068	18	of	of	ADP
ftr-443	1068	19	corporate	corporate	ADJ
ftr-443	1068	20	level	level	NOUN
ftr-443	1068	21	taxation	taxation	NOUN
ftr-443	1068	22	in	in	ADP
ftr-443	1068	23	a	a	DET
ftr-443	1068	24	post	post	ADJ
ftr-443	1068	25	-	-	ADJ
ftr-443	1068	26	general	general	ADJ
ftr-443	1068	27	utilities	utility	NOUN
ftr-443	1068	28	world	world	NOUN
ftr-443	1068	29	,	,	PUNCT
ftr-443	1068	30	parts	part	NOUN
ftr-443	1068	31	i	i	PROPN
ftr-443	1068	32	and	and	CCONJ
ftr-443	1068	33	ii	ii	PROPN
ftr-443	1068	34	,	,	PUNCT
ftr-443	1068	35	corporate	corporate	ADJ
ftr-443	1068	36	tax	tax	NOUN
ftr-443	1068	37	and	and	CCONJ
ftr-443	1068	38	business	business	NOUN
ftr-443	1068	39	planning	planning	NOUN
ftr-443	1068	40	review	review	NOUN
ftr-443	1068	41	(	(	PUNCT
ftr-443	1068	42	march	march	PROPN
ftr-443	1068	43	&	&	CCONJ
ftr-443	1068	44	april	april	PROPN
ftr-443	1068	45	,	,	PUNCT
ftr-443	1068	46	1996	1996	NUM
ftr-443	1068	47	)	)	PUNCT
ftr-443	1068	48	.	.	PUNCT
ftr-443	1069	1	172	172	X
ftr-443	1069	2	.	.	PUNCT
ftr-443	1070	1	former	former	ADJ
ftr-443	1070	2	§	§	PROPN
ftr-443	1070	3	337	337	NUM
ftr-443	1070	4	permitted	permit	VERB
ftr-443	1070	5	a	a	DET
ftr-443	1070	6	corporation	corporation	NOUN
ftr-443	1070	7	to	to	PART
ftr-443	1070	8	avoid	avoid	VERB
ftr-443	1070	9	corporate	corporate	ADJ
ftr-443	1070	10	gain	gain	NOUN
ftr-443	1070	11	on	on	ADP
ftr-443	1070	12	sales	sale	NOUN
ftr-443	1070	13	of	of	ADP
ftr-443	1070	14	capital	capital	NOUN
ftr-443	1070	15	and	and	CCONJ
ftr-443	1070	16	§	§	PROPN
ftr-443	1070	17	1231	1231	NUM
ftr-443	1070	18	assets	asset	NOUN
ftr-443	1070	19	,	,	PUNCT
ftr-443	1070	20	as	as	ADV
ftr-443	1070	21	well	well	ADV
ftr-443	1070	22	as	as	ADP
ftr-443	1070	23	bulk	bulk	ADJ
ftr-443	1070	24	sales	sale	NOUN
ftr-443	1070	25	of	of	ADP
ftr-443	1070	26	inventory	inventory	NOUN
ftr-443	1070	27	to	to	ADP
ftr-443	1070	28	a	a	DET
ftr-443	1070	29	single	single	ADJ
ftr-443	1070	30	buyer	buyer	NOUN
ftr-443	1070	31	.	.	PUNCT
ftr-443	1071	1	in	in	ADP
ftr-443	1071	2	order	order	NOUN
ftr-443	1071	3	to	to	PART
ftr-443	1071	4	avoid	avoid	VERB
ftr-443	1071	5	corporate	corporate	ADJ
ftr-443	1071	6	recognition	recognition	NOUN
ftr-443	1071	7	,	,	PUNCT
ftr-443	1071	8	the	the	DET
ftr-443	1071	9	corporation	corporation	NOUN
ftr-443	1071	10	had	have	VERB
ftr-443	1071	11	to	to	PART
ftr-443	1071	12	adopt	adopt	VERB
ftr-443	1071	13	a	a	DET
ftr-443	1071	14	plan	plan	NOUN
ftr-443	1071	15	of	of	ADP
ftr-443	1071	16	liquidation	liquidation	NOUN
ftr-443	1071	17	and	and	CCONJ
ftr-443	1071	18	complete	complete	VERB
ftr-443	1071	19	the	the	DET
ftr-443	1071	20	sale	sale	NOUN
ftr-443	1071	21	and	and	CCONJ
ftr-443	1071	22	liquidation	liquidation	NOUN
ftr-443	1071	23	within	within	ADP
ftr-443	1071	24	one	one	NUM
ftr-443	1071	25	year	year	NOUN
ftr-443	1071	26	.	.	PUNCT
ftr-443	1072	1	section	section	NOUN
ftr-443	1072	2	337	337	NUM
ftr-443	1072	3	did	do	AUX
ftr-443	1072	4	not	not	PART
ftr-443	1072	5	apply	apply	VERB
ftr-443	1072	6	to	to	AUX
ftr-443	1072	7	recapture	recapture	VERB
ftr-443	1072	8	amounts	amount	NOUN
ftr-443	1072	9	or	or	CCONJ
ftr-443	1072	10	nonqualifying	nonqualifye	VERB
ftr-443	1072	11	sales	sale	NOUN
ftr-443	1072	12	of	of	ADP
ftr-443	1072	13	inventory	inventory	NOUN
ftr-443	1072	14	.	.	PUNCT
ftr-443	1073	1	shareholder	shareholder	NOUN
ftr-443	1073	2	nonrecognition	nonrecognition	NOUN
ftr-443	1073	3	was	be	AUX
ftr-443	1073	4	possible	possible	ADJ
ftr-443	1073	5	under	under	ADP
ftr-443	1073	6	§	§	PROPN
ftr-443	1073	7	333	333	NUM
ftr-443	1073	8	,	,	PUNCT
ftr-443	1073	9	under	under	ADP
ftr-443	1073	10	which	which	PRON
ftr-443	1073	11	a	a	DET
ftr-443	1073	12	shareholder	shareholder	NOUN
ftr-443	1073	13	's	's	PART
ftr-443	1073	14	gain	gain	NOUN
ftr-443	1073	15	on	on	ADP
ftr-443	1073	16	liquidation	liquidation	NOUN
ftr-443	1073	17	was	be	AUX
ftr-443	1073	18	limited	limit	VERB
ftr-443	1073	19	to	to	ADP
ftr-443	1073	20	a	a	DET
ftr-443	1073	21	ratable	ratable	ADJ
ftr-443	1073	22	share	share	NOUN
ftr-443	1073	23	of	of	ADP
ftr-443	1073	24	corporate	corporate	ADJ
ftr-443	1073	25	earnings	earning	NOUN
ftr-443	1073	26	and	and	CCONJ
ftr-443	1073	27	profits	profit	NOUN
ftr-443	1073	28	,	,	PUNCT
ftr-443	1073	29	which	which	PRON
ftr-443	1073	30	was	be	AUX
ftr-443	1073	31	taxed	tax	VERB
ftr-443	1073	32	as	as	ADP
ftr-443	1073	33	ordinary	ordinary	ADJ
ftr-443	1073	34	income	income	NOUN
ftr-443	1073	35	.	.	PUNCT
ftr-443	1074	1	the	the	DET
ftr-443	1074	2	§	§	PROPN
ftr-443	1074	3	333	333	NUM
ftr-443	1074	4	liquidation	liquidation	NOUN
ftr-443	1074	5	required	require	VERB
ftr-443	1074	6	some	some	DET
ftr-443	1074	7	fancy	fancy	ADJ
ftr-443	1074	8	dancing	dancing	NOUN
ftr-443	1074	9	since	since	SCONJ
ftr-443	1074	10	all	all	DET
ftr-443	1074	11	distributions	distribution	NOUN
ftr-443	1074	12	in	in	ADP
ftr-443	1074	13	liquidation	liquidation	NOUN
ftr-443	1074	14	had	have	VERB
ftr-443	1074	15	to	to	PART
ftr-443	1074	16	be	be	AUX
ftr-443	1074	17	made	make	VERB
ftr-443	1074	18	within	within	ADP
ftr-443	1074	19	one	one	NUM
ftr-443	1074	20	calendar	calendar	NOUN
ftr-443	1074	21	month	month	NOUN
ftr-443	1074	22	.	.	PUNCT
ftr-443	1075	1	sections	section	NOUN
ftr-443	1075	2	333	333	NUM
ftr-443	1075	3	and	and	CCONJ
ftr-443	1075	4	337	337	NUM
ftr-443	1075	5	could	could	AUX
ftr-443	1075	6	not	not	PART
ftr-443	1075	7	be	be	AUX
ftr-443	1075	8	used	use	VERB
ftr-443	1075	9	in	in	ADP
ftr-443	1075	10	tandem	tandem	PROPN
ftr-443	1075	11	.	.	PUNCT
ftr-443	1076	1	see	see	VERB
ftr-443	1076	2	george	george	PROPN
ftr-443	1076	3	k.	k.	PROPN
ftr-443	1076	4	yin	yin	PROPN
ftr-443	1076	5	,	,	PUNCT
ftr-443	1076	6	taxing	tax	VERB
ftr-443	1076	7	corporate	corporate	ADJ
ftr-443	1076	8	liquidations	liquidation	NOUN
ftr-443	1076	9	(	(	PUNCT
ftr-443	1076	10	and	and	CCONJ
ftr-443	1076	11	related	related	ADJ
ftr-443	1076	12	matters	matter	NOUN
ftr-443	1076	13	)	)	PUNCT
ftr-443	1076	14	after	after	ADP
ftr-443	1076	15	the	the	DET
ftr-443	1076	16	tax	tax	NOUN
ftr-443	1076	17	reform	reform	PROPN
ftr-443	1076	18	act	act	NOUN
ftr-443	1076	19	of	of	ADP
ftr-443	1076	20	1986	1986	NUM
ftr-443	1076	21	,	,	PUNCT
ftr-443	1076	22	42	42	NUM
ftr-443	1076	23	tax	tax	NOUN
ftr-443	1076	24	.	.	PUNCT
ftr-443	1077	1	l.	l.	PROPN
ftr-443	1077	2	rev	rev	PROPN
ftr-443	1077	3	.	.	PROPN
ftr-443	1078	1	573	573	NUM
ftr-443	1078	2	(	(	PUNCT
ftr-443	1078	3	1987	1987	NUM
ftr-443	1078	4	)	)	PUNCT
ftr-443	1078	5	.	.	PUNCT
ftr-443	1079	1	[	[	X
ftr-443	1079	2	vol	vol	NOUN
ftr-443	1079	3	4:3	4:3	NUM
ftr-443	1079	4	benefits	benefit	NOUN
ftr-443	1079	5	and	and	CCONJ
ftr-443	1079	6	burdens	burden	NOUN
ftr-443	1079	7	of	of	ADP
ftr-443	1079	8	subchapter	subchapter	NOUN
ftr-443	1079	9	s	s	VERB
ftr-443	1079	10	disposed	dispose	VERB
ftr-443	1079	11	of	of	ADP
ftr-443	1079	12	during	during	ADP
ftr-443	1079	13	the	the	DET
ftr-443	1079	14	subsequent	subsequent	ADJ
ftr-443	1079	15	ten	ten	NUM
ftr-443	1079	16	years	year	NOUN
ftr-443	1079	17	.	.	PUNCT
ftr-443	1079	18	'	'	PUNCT
ftr-443	1080	1	section	section	NOUN
ftr-443	1080	2	1374	1374	NUM
ftr-443	1080	3	,	,	PUNCT
ftr-443	1080	4	as	as	SCONJ
ftr-443	1080	5	amended	amend	VERB
ftr-443	1080	6	in	in	ADP
ftr-443	1080	7	1986	1986	NUM
ftr-443	1080	8	,	,	PUNCT
ftr-443	1080	9	is	be	AUX
ftr-443	1080	10	designed	design	VERB
ftr-443	1080	11	to	to	PART
ftr-443	1080	12	tax	tax	VERB
ftr-443	1080	13	appreciation	appreciation	NOUN
ftr-443	1080	14	accrued	accrue	VERB
ftr-443	1080	15	before	before	ADP
ftr-443	1080	16	the	the	DET
ftr-443	1080	17	effective	effective	ADJ
ftr-443	1080	18	date	date	NOUN
ftr-443	1080	19	of	of	ADP
ftr-443	1080	20	the	the	DET
ftr-443	1080	21	conversion	conversion	NOUN
ftr-443	1080	22	.	.	PUNCT
ftr-443	1080	23	"	"	PUNCT
ftr-443	1081	1	although	although	SCONJ
ftr-443	1081	2	trapping	trap	VERB
ftr-443	1081	3	accrued	accrue	VERB
ftr-443	1081	4	c	c	NOUN
ftr-443	1081	5	gains	gain	NOUN
ftr-443	1081	6	for	for	ADP
ftr-443	1081	7	ten	ten	NUM
ftr-443	1081	8	years	year	NOUN
ftr-443	1081	9	may	may	AUX
ftr-443	1081	10	seem	seem	VERB
ftr-443	1081	11	to	to	PART
ftr-443	1081	12	be	be	AUX
ftr-443	1081	13	an	an	DET
ftr-443	1081	14	appropriate	appropriate	ADJ
ftr-443	1081	15	policy	policy	NOUN
ftr-443	1081	16	,	,	PUNCT
ftr-443	1081	17	the	the	DET
ftr-443	1081	18	revision	revision	NOUN
ftr-443	1081	19	of	of	ADP
ftr-443	1081	20	section	section	NOUN
ftr-443	1081	21	1374	1374	NUM
ftr-443	1081	22	added	add	VERB
ftr-443	1081	23	complexity	complexity	NOUN
ftr-443	1081	24	and	and	CCONJ
ftr-443	1081	25	cost	cost	NOUN
ftr-443	1081	26	(	(	PUNCT
ftr-443	1081	27	e.g.	e.g.	ADV
ftr-443	1081	28	,	,	PUNCT
ftr-443	1081	29	need	need	VERB
ftr-443	1081	30	for	for	ADP
ftr-443	1081	31	appraisals	appraisal	NOUN
ftr-443	1081	32	,	,	PUNCT
ftr-443	1081	33	difficult	difficult	ADJ
ftr-443	1081	34	burden	burden	NOUN
ftr-443	1081	35	of	of	ADP
ftr-443	1081	36	proof	proof	ADJ
ftr-443	1081	37	issues	issue	NOUN
ftr-443	1081	38	on	on	ADP
ftr-443	1081	39	whether	whether	SCONJ
ftr-443	1081	40	gain	gain	NOUN
ftr-443	1081	41	accrued	accrue	VERB
ftr-443	1081	42	before	before	ADP
ftr-443	1081	43	or	or	CCONJ
ftr-443	1081	44	after	after	ADP
ftr-443	1081	45	conversion	conversion	NOUN
ftr-443	1081	46	)	)	PUNCT
ftr-443	1081	47	,	,	PUNCT
ftr-443	1081	48	and	and	CCONJ
ftr-443	1081	49	it	it	PRON
ftr-443	1081	50	has	have	VERB
ftr-443	1081	51	the	the	DET
ftr-443	1081	52	added	add	VERB
ftr-443	1081	53	detriment	detriment	NOUN
ftr-443	1081	54	of	of	ADP
ftr-443	1081	55	forced	force	VERB
ftr-443	1081	56	double	double	ADJ
ftr-443	1081	57	taxation	taxation	NOUN
ftr-443	1081	58	.	.	PUNCT
ftr-443	1082	1	built	build	VERB
ftr-443	1082	2	-	-	PUNCT
ftr-443	1082	3	in	in	ADP
ftr-443	1082	4	gains	gain	NOUN
ftr-443	1082	5	are	be	AUX
ftr-443	1082	6	taxed	tax	VERB
ftr-443	1082	7	at	at	ADP
ftr-443	1082	8	the	the	DET
ftr-443	1082	9	maximum	maximum	ADJ
ftr-443	1082	10	corporate	corporate	ADJ
ftr-443	1082	11	rate	rate	NOUN
ftr-443	1082	12	and	and	CCONJ
ftr-443	1082	13	are	be	AUX
ftr-443	1082	14	then	then	ADV
ftr-443	1082	15	passed	pass	VERB
ftr-443	1082	16	through	through	ADP
ftr-443	1082	17	to	to	ADP
ftr-443	1082	18	the	the	DET
ftr-443	1082	19	shareholders	shareholder	NOUN
ftr-443	1082	20	for	for	ADP
ftr-443	1082	21	inclusion	inclusion	NOUN
ftr-443	1082	22	on	on	ADP
ftr-443	1082	23	their	their	PRON
ftr-443	1082	24	individual	individual	ADJ
ftr-443	1082	25	returns	return	NOUN
ftr-443	1082	26	.	.	PUNCT
ftr-443	1083	1	the	the	DET
ftr-443	1083	2	tax	tax	NOUN
ftr-443	1083	3	is	be	AUX
ftr-443	1083	4	allocated	allocate	VERB
ftr-443	1083	5	among	among	ADP
ftr-443	1083	6	the	the	DET
ftr-443	1083	7	shareholders	shareholder	NOUN
ftr-443	1083	8	,	,	PUNCT
ftr-443	1083	9	who	who	PRON
ftr-443	1083	10	may	may	AUX
ftr-443	1083	11	deduct	deduct	VERB
ftr-443	1083	12	their	their	PRON
ftr-443	1083	13	shares	share	NOUN
ftr-443	1083	14	as	as	ADP
ftr-443	1083	15	a	a	DET
ftr-443	1083	16	loss.7	loss.7	NOUN
ftr-443	1083	17	in	in	ADP
ftr-443	1083	18	contrast	contrast	NOUN
ftr-443	1083	19	,	,	PUNCT
ftr-443	1083	20	if	if	SCONJ
ftr-443	1083	21	the	the	DET
ftr-443	1083	22	corporation	corporation	NOUN
ftr-443	1083	23	had	have	AUX
ftr-443	1083	24	remained	remain	VERB
ftr-443	1083	25	a	a	DET
ftr-443	1083	26	c	c	NOUN
ftr-443	1083	27	corporation	corporation	NOUN
ftr-443	1083	28	,	,	PUNCT
ftr-443	1083	29	shareholder	shareholder	NOUN
ftr-443	1083	30	-	-	PUNCT
ftr-443	1083	31	level	level	NOUN
ftr-443	1083	32	tax	tax	NOUN
ftr-443	1083	33	would	would	AUX
ftr-443	1083	34	be	be	AUX
ftr-443	1083	35	imposed	impose	VERB
ftr-443	1083	36	only	only	ADV
ftr-443	1083	37	if	if	SCONJ
ftr-443	1083	38	and	and	CCONJ
ftr-443	1083	39	when	when	SCONJ
ftr-443	1083	40	the	the	DET
ftr-443	1083	41	corporation	corporation	NOUN
ftr-443	1083	42	distributed	distribute	VERB
ftr-443	1083	43	the	the	DET
ftr-443	1083	44	net	net	ADJ
ftr-443	1083	45	proceeds	proceed	NOUN
ftr-443	1083	46	of	of	ADP
ftr-443	1083	47	the	the	DET
ftr-443	1083	48	asset	asset	NOUN
ftr-443	1083	49	sale	sale	NOUN
ftr-443	1083	50	as	as	ADP
ftr-443	1083	51	dividends	dividend	NOUN
ftr-443	1083	52	.	.	PUNCT
ftr-443	1084	1	since	since	SCONJ
ftr-443	1084	2	the	the	DET
ftr-443	1084	3	amount	amount	NOUN
ftr-443	1084	4	taxable	taxable	ADJ
ftr-443	1084	5	under	under	ADP
ftr-443	1084	6	§	§	NOUN
ftr-443	1084	7	1374	1374	NUM
ftr-443	1084	8	may	may	AUX
ftr-443	1084	9	not	not	PART
ftr-443	1084	10	exceed	exceed	VERB
ftr-443	1084	11	the	the	DET
ftr-443	1084	12	corporation	corporation	NOUN
ftr-443	1084	13	's	's	PART
ftr-443	1084	14	entire	entire	ADJ
ftr-443	1084	15	taxable	taxable	ADJ
ftr-443	1084	16	income	income	NOUN
ftr-443	1084	17	for	for	ADP
ftr-443	1084	18	the	the	DET
ftr-443	1084	19	year,7	year,7	NOUN
ftr-443	1084	20	6	6	NUM
ftr-443	1084	21	the	the	DET
ftr-443	1084	22	tax	tax	NOUN
ftr-443	1084	23	may	may	AUX
ftr-443	1084	24	be	be	AUX
ftr-443	1084	25	reduced	reduce	VERB
ftr-443	1084	26	or	or	CCONJ
ftr-443	1084	27	avoided	avoid	VERB
ftr-443	1084	28	by	by	ADP
ftr-443	1084	29	planning	plan	VERB
ftr-443	1084	30	deductible	deductible	ADJ
ftr-443	1084	31	expenditures	expenditure	NOUN
ftr-443	1084	32	for	for	ADP
ftr-443	1084	33	the	the	DET
ftr-443	1084	34	year	year	NOUN
ftr-443	1084	35	of	of	ADP
ftr-443	1084	36	sale	sale	NOUN
ftr-443	1084	37	,	,	PUNCT
ftr-443	1084	38	but	but	CCONJ
ftr-443	1084	39	if	if	SCONJ
ftr-443	1084	40	net	net	ADJ
ftr-443	1084	41	built	build	VERB
ftr-443	1084	42	-	-	PUNCT
ftr-443	1084	43	in	in	ADP
ftr-443	1084	44	gain	gain	NOUN
ftr-443	1084	45	year	year	NOUN
ftr-443	1084	46	exceeds	exceed	VERB
ftr-443	1084	47	taxable	taxable	ADJ
ftr-443	1084	48	income	income	NOUN
ftr-443	1084	49	for	for	ADP
ftr-443	1084	50	the	the	DET
ftr-443	1084	51	year	year	NOUN
ftr-443	1084	52	,	,	PUNCT
ftr-443	1084	53	the	the	DET
ftr-443	1084	54	excess	excess	NOUN
ftr-443	1084	55	is	be	AUX
ftr-443	1084	56	carried	carry	VERB
ftr-443	1084	57	forward	forward	ADV
ftr-443	1084	58	as	as	ADP
ftr-443	1084	59	built	build	VERB
ftr-443	1084	60	-	-	PUNCT
ftr-443	1084	61	in	in	ADP
ftr-443	1084	62	gain	gain	NOUN
ftr-443	1084	63	for	for	ADP
ftr-443	1084	64	the	the	DET
ftr-443	1084	65	following	following	ADJ
ftr-443	1084	66	year	year	NOUN
ftr-443	1084	67	.	.	PUNCT
ftr-443	1084	68	'	'	PUNCT
ftr-443	1085	1	"	"	PUNCT
ftr-443	1085	2	the	the	DET
ftr-443	1085	3	service	service	NOUN
ftr-443	1085	4	further	far	ADV
ftr-443	1085	5	closed	close	VERB
ftr-443	1085	6	the	the	DET
ftr-443	1085	7	door	door	NOUN
ftr-443	1085	8	on	on	ADP
ftr-443	1085	9	installment	installment	NOUN
ftr-443	1085	10	sale	sale	NOUN
ftr-443	1085	11	transactions	transaction	NOUN
ftr-443	1085	12	designed	design	VERB
ftr-443	1085	13	to	to	PART
ftr-443	1085	14	circumvent	circumvent	VERB
ftr-443	1085	15	the	the	DET
ftr-443	1085	16	corporate	corporate	ADJ
ftr-443	1085	17	tax	tax	NOUN
ftr-443	1085	18	,	,	PUNCT
ftr-443	1085	19	including	include	VERB
ftr-443	1085	20	installment	installment	NOUN
ftr-443	1085	21	sales	sale	NOUN
ftr-443	1085	22	entered	enter	VERB
ftr-443	1085	23	into	into	ADP
ftr-443	1085	24	before	before	ADP
ftr-443	1085	25	the	the	DET
ftr-443	1085	26	conversion	conversion	NOUN
ftr-443	1085	27	.	.	PUNCT
ftr-443	1086	1	78	78	NUM
ftr-443	1087	1	the	the	DET
ftr-443	1087	2	revised	revise	VERB
ftr-443	1087	3	section	section	NOUN
ftr-443	1087	4	1374	1374	NUM
ftr-443	1087	5	has	have	AUX
ftr-443	1087	6	been	be	AUX
ftr-443	1087	7	criticized	criticize	VERB
ftr-443	1087	8	by	by	ADP
ftr-443	1087	9	practitioners	practitioner	NOUN
ftr-443	1087	10	and	and	CCONJ
ftr-443	1087	11	commentators	commentator	NOUN
ftr-443	1087	12	as	as	ADP
ftr-443	1087	13	imposing	impose	VERB
ftr-443	1087	14	too	too	ADV
ftr-443	1087	15	severe	severe	ADJ
ftr-443	1087	16	a	a	DET
ftr-443	1087	17	price	price	NOUN
ftr-443	1087	18	for	for	ADP
ftr-443	1087	19	converting	convert	VERB
ftr-443	1087	20	from	from	ADP
ftr-443	1087	21	c	c	NOUN
ftr-443	1087	22	to	to	ADP
ftr-443	1087	23	s.	s.	PROPN
ftr-443	1087	24	most	most	ADV
ftr-443	1087	25	troublesome	troublesome	ADJ
ftr-443	1087	26	is	be	AUX
ftr-443	1087	27	the	the	DET
ftr-443	1087	28	ten	ten	NUM
ftr-443	1087	29	-	-	PUNCT
ftr-443	1087	30	year	year	NOUN
ftr-443	1087	31	window	window	NOUN
ftr-443	1087	32	of	of	ADP
ftr-443	1087	33	continued	continue	VERB
ftr-443	1087	34	corporate	corporate	ADJ
ftr-443	1087	35	tax	tax	NOUN
ftr-443	1087	36	on	on	ADP
ftr-443	1087	37	pre173	pre173	PROPN
ftr-443	1087	38	.	.	PUNCT
ftr-443	1088	1	other	other	ADJ
ftr-443	1088	2	roadblocks	roadblock	NOUN
ftr-443	1088	3	to	to	ADP
ftr-443	1088	4	c	c	PROPN
ftr-443	1088	5	to	to	ADP
ftr-443	1088	6	s	s	NOUN
ftr-443	1088	7	conversion	conversion	NOUN
ftr-443	1088	8	strategies	strategy	NOUN
ftr-443	1088	9	are	be	AUX
ftr-443	1088	10	the	the	DET
ftr-443	1088	11	tax	tax	NOUN
ftr-443	1088	12	on	on	ADP
ftr-443	1088	13	excess	excess	ADJ
ftr-443	1088	14	passive	passive	ADJ
ftr-443	1088	15	investment	investment	NOUN
ftr-443	1088	16	income	income	NOUN
ftr-443	1088	17	under	under	ADP
ftr-443	1088	18	§	§	PROPN
ftr-443	1088	19	1375	1375	NUM
ftr-443	1088	20	and	and	CCONJ
ftr-443	1088	21	corresponding	correspond	VERB
ftr-443	1088	22	termination	termination	NOUN
ftr-443	1088	23	rule	rule	NOUN
ftr-443	1088	24	under	under	ADP
ftr-443	1088	25	§	§	PROPN
ftr-443	1088	26	1362(d)(3)(a	1362(d)(3)(a	NUM
ftr-443	1088	27	)	)	PUNCT
ftr-443	1088	28	,	,	PUNCT
ftr-443	1088	29	and	and	CCONJ
ftr-443	1088	30	the	the	DET
ftr-443	1088	31	lifo	lifo	NOUN
ftr-443	1088	32	recapture	recapture	NOUN
ftr-443	1088	33	rule	rule	NOUN
ftr-443	1088	34	of	of	ADP
ftr-443	1088	35	§	§	PROPN
ftr-443	1088	36	1363(d	1363(d	NOUN
ftr-443	1088	37	)	)	PUNCT
ftr-443	1088	38	,	,	PUNCT
ftr-443	1088	39	although	although	SCONJ
ftr-443	1088	40	no	no	DET
ftr-443	1088	41	recapture	recapture	NOUN
ftr-443	1088	42	of	of	ADP
ftr-443	1088	43	business	business	NOUN
ftr-443	1088	44	credits	credit	NOUN
ftr-443	1088	45	arises	arise	VERB
ftr-443	1088	46	by	by	ADP
ftr-443	1088	47	virtue	virtue	NOUN
ftr-443	1088	48	of	of	ADP
ftr-443	1088	49	the	the	DET
ftr-443	1088	50	election	election	NOUN
ftr-443	1088	51	.	.	PUNCT
ftr-443	1089	1	see	see	VERB
ftr-443	1089	2	irc	irc	PROPN
ftr-443	1089	3	§	§	PROPN
ftr-443	1089	4	1371(d)(1	1371(d)(1	NUM
ftr-443	1089	5	)	)	PUNCT
ftr-443	1089	6	.	.	PUNCT
ftr-443	1090	1	other	other	ADJ
ftr-443	1090	2	consequences	consequence	NOUN
ftr-443	1090	3	of	of	ADP
ftr-443	1090	4	a	a	DET
ftr-443	1090	5	conversion	conversion	NOUN
ftr-443	1090	6	are	be	AUX
ftr-443	1090	7	loss	loss	NOUN
ftr-443	1090	8	of	of	ADP
ftr-443	1090	9	fringe	fringe	NOUN
ftr-443	1090	10	benefit	benefit	NOUN
ftr-443	1090	11	exclusions	exclusion	NOUN
ftr-443	1090	12	for	for	ADP
ftr-443	1090	13	more	more	ADJ
ftr-443	1090	14	than	than	ADP
ftr-443	1090	15	2	2	NUM
ftr-443	1090	16	%	%	NOUN
ftr-443	1090	17	shareholders	shareholder	NOUN
ftr-443	1090	18	,	,	PUNCT
ftr-443	1090	19	a	a	DET
ftr-443	1090	20	proscription	proscription	NOUN
ftr-443	1090	21	against	against	ADP
ftr-443	1090	22	qualified	qualified	ADJ
ftr-443	1090	23	retirement	retirement	NOUN
ftr-443	1090	24	plans	plan	NOUN
ftr-443	1090	25	making	make	VERB
ftr-443	1090	26	loans	loan	NOUN
ftr-443	1090	27	to	to	ADP
ftr-443	1090	28	participant	participant	ADJ
ftr-443	1090	29	-	-	PUNCT
ftr-443	1090	30	shareholders	shareholder	NOUN
ftr-443	1090	31	,	,	PUNCT
ftr-443	1090	32	loss	loss	NOUN
ftr-443	1090	33	limitation	limitation	NOUN
ftr-443	1090	34	rules	rule	NOUN
ftr-443	1090	35	at	at	ADP
ftr-443	1090	36	the	the	DET
ftr-443	1090	37	shareholder	shareholder	NOUN
ftr-443	1090	38	level	level	NOUN
ftr-443	1090	39	,	,	PUNCT
ftr-443	1090	40	the	the	DET
ftr-443	1090	41	inability	inability	NOUN
ftr-443	1090	42	to	to	PART
ftr-443	1090	43	use	use	VERB
ftr-443	1090	44	carryovers	carryover	NOUN
ftr-443	1090	45	from	from	ADP
ftr-443	1090	46	c	c	NOUN
ftr-443	1090	47	years	year	NOUN
ftr-443	1090	48	except	except	SCONJ
ftr-443	1090	49	in	in	ADP
ftr-443	1090	50	computing	compute	VERB
ftr-443	1090	51	the	the	DET
ftr-443	1090	52	built	build	VERB
ftr-443	1090	53	-	-	PUNCT
ftr-443	1090	54	in	in	ADP
ftr-443	1090	55	gains	gain	NOUN
ftr-443	1090	56	tax	tax	NOUN
ftr-443	1090	57	,	,	PUNCT
ftr-443	1090	58	and	and	CCONJ
ftr-443	1090	59	application	application	NOUN
ftr-443	1090	60	of	of	ADP
ftr-443	1090	61	the	the	DET
ftr-443	1090	62	at	at	ADP
ftr-443	1090	63	-	-	PUNCT
ftr-443	1090	64	risk	risk	NOUN
ftr-443	1090	65	and	and	CCONJ
ftr-443	1090	66	passive	passive	ADJ
ftr-443	1090	67	activity	activity	NOUN
ftr-443	1090	68	loss	loss	NOUN
ftr-443	1090	69	rules	rule	NOUN
ftr-443	1090	70	at	at	ADP
ftr-443	1090	71	the	the	DET
ftr-443	1090	72	shareholder	shareholder	NOUN
ftr-443	1090	73	level	level	NOUN
ftr-443	1090	74	.	.	PUNCT
ftr-443	1091	1	moreover	moreover	ADV
ftr-443	1091	2	,	,	PUNCT
ftr-443	1091	3	the	the	DET
ftr-443	1091	4	corporation	corporation	NOUN
ftr-443	1091	5	must	must	AUX
ftr-443	1091	6	account	account	VERB
ftr-443	1091	7	for	for	ADP
ftr-443	1091	8	its	its	PRON
ftr-443	1091	9	aaa	aaa	NOUN
ftr-443	1091	10	.	.	PUNCT
ftr-443	1092	1	174	174	NUM
ftr-443	1092	2	.	.	PUNCT
ftr-443	1093	1	some	some	DET
ftr-443	1093	2	corporations	corporation	NOUN
ftr-443	1093	3	that	that	PRON
ftr-443	1093	4	converted	convert	VERB
ftr-443	1093	5	to	to	ADP
ftr-443	1093	6	s	s	NOUN
ftr-443	1093	7	status	status	NOUN
ftr-443	1093	8	after	after	ADP
ftr-443	1093	9	1986	1986	NUM
ftr-443	1093	10	but	but	CCONJ
ftr-443	1093	11	before	before	ADP
ftr-443	1093	12	1988	1988	NUM
ftr-443	1093	13	were	be	AUX
ftr-443	1093	14	granted	grant	VERB
ftr-443	1093	15	transitional	transitional	ADJ
ftr-443	1093	16	relief	relief	NOUN
ftr-443	1093	17	based	base	VERB
ftr-443	1093	18	on	on	ADP
ftr-443	1093	19	the	the	DET
ftr-443	1093	20	value	value	NOUN
ftr-443	1093	21	of	of	ADP
ftr-443	1093	22	the	the	DET
ftr-443	1093	23	corporation	corporation	NOUN
ftr-443	1093	24	on	on	ADP
ftr-443	1093	25	august	august	PROPN
ftr-443	1093	26	1	1	NUM
ftr-443	1093	27	.	.	SYM
ftr-443	1093	28	1986	1986	NUM
ftr-443	1093	29	,	,	PUNCT
ftr-443	1093	30	generally	generally	ADV
ftr-443	1093	31	resulting	result	VERB
ftr-443	1093	32	in	in	ADP
ftr-443	1093	33	full	full	ADJ
ftr-443	1093	34	or	or	CCONJ
ftr-443	1093	35	partial	partial	ADJ
ftr-443	1093	36	use	use	NOUN
ftr-443	1093	37	of	of	ADP
ftr-443	1093	38	former	former	ADJ
ftr-443	1093	39	§	§	PROPN
ftr-443	1093	40	1374	1374	NUM
ftr-443	1093	41	.	.	PUNCT
ftr-443	1094	1	see	see	VERB
ftr-443	1094	2	regs	reg	NOUN
ftr-443	1094	3	.	.	PUNCT
ftr-443	1095	1	§	§	PROPN
ftr-443	1095	2	1.1374	1.1374	NUM
ftr-443	1095	3	-	-	PUNCT
ftr-443	1095	4	ia	ia	NOUN
ftr-443	1095	5	;	;	PUNCT
ftr-443	1095	6	rev	rev	PROPN
ftr-443	1095	7	.	.	PROPN
ftr-443	1095	8	rul	rul	PROPN
ftr-443	1095	9	.	.	PUNCT
ftr-443	1096	1	86	86	NUM
ftr-443	1096	2	-	-	SYM
ftr-443	1096	3	141	141	NUM
ftr-443	1096	4	,	,	PUNCT
ftr-443	1096	5	1986	1986	NUM
ftr-443	1096	6	-	-	SYM
ftr-443	1096	7	2	2	NUM
ftr-443	1096	8	c.b	c.b	PROPN
ftr-443	1096	9	.	.	PROPN
ftr-443	1096	10	151	151	NUM
ftr-443	1096	11	,	,	PUNCT
ftr-443	1096	12	modified	modify	VERB
ftr-443	1096	13	by	by	ADP
ftr-443	1096	14	notice	notice	NOUN
ftr-443	1096	15	88	88	NUM
ftr-443	1096	16	-	-	SYM
ftr-443	1096	17	134	134	NUM
ftr-443	1096	18	,	,	PUNCT
ftr-443	1096	19	1988	1988	NUM
ftr-443	1096	20	-	-	SYM
ftr-443	1096	21	2	2	NUM
ftr-443	1096	22	c.b	c.b	PROPN
ftr-443	1096	23	.	.	PROPN
ftr-443	1096	24	559	559	NUM
ftr-443	1096	25	;	;	PUNCT
ftr-443	1096	26	priv	priv	NOUN
ftr-443	1096	27	.	.	PUNCT
ftr-443	1097	1	ltr	ltr	PROPN
ftr-443	1097	2	.	.	PUNCT
ftr-443	1098	1	rul	rul	PROPN
ftr-443	1098	2	92	92	NUM
ftr-443	1098	3	-	-	SYM
ftr-443	1098	4	18	18	NUM
ftr-443	1098	5	-	-	SYM
ftr-443	1098	6	019	019	NUM
ftr-443	1098	7	(	(	PUNCT
ftr-443	1098	8	jan	jan	PROPN
ftr-443	1098	9	.	.	PROPN
ftr-443	1098	10	23	23	NUM
ftr-443	1098	11	,	,	PUNCT
ftr-443	1098	12	1992	1992	NUM
ftr-443	1098	13	)	)	PUNCT
ftr-443	1098	14	.	.	PUNCT
ftr-443	1099	1	175	175	NUM
ftr-443	1099	2	.	.	PUNCT
ftr-443	1099	3	see	see	VERB
ftr-443	1099	4	irc	irc	PROPN
ftr-443	1099	5	§	§	PROPN
ftr-443	1099	6	1366(0(2	1366(0(2	NUM
ftr-443	1099	7	)	)	PUNCT
ftr-443	1099	8	.	.	PUNCT
ftr-443	1100	1	the	the	DET
ftr-443	1100	2	character	character	NOUN
ftr-443	1100	3	of	of	ADP
ftr-443	1100	4	the	the	DET
ftr-443	1100	5	loss	loss	NOUN
ftr-443	1100	6	is	be	AUX
ftr-443	1100	7	determined	determine	VERB
ftr-443	1100	8	by	by	ADP
ftr-443	1100	9	allocating	allocate	VERB
ftr-443	1100	10	net	net	ADJ
ftr-443	1100	11	gain	gain	NOUN
ftr-443	1100	12	proportionately	proportionately	ADV
ftr-443	1100	13	among	among	ADP
ftr-443	1100	14	the	the	DET
ftr-443	1100	15	recognized	recognize	VERB
ftr-443	1100	16	built	build	VERB
ftr-443	1100	17	-	-	PUNCT
ftr-443	1100	18	in	in	ADP
ftr-443	1100	19	gains	gain	NOUN
ftr-443	1100	20	.	.	PUNCT
ftr-443	1101	1	see	see	VERB
ftr-443	1101	2	i	i	PRON
ftr-443	1101	3	d.	d.	PROPN
ftr-443	1101	4	176	176	NUM
ftr-443	1101	5	.	.	PUNCT
ftr-443	1102	1	see	see	VERB
ftr-443	1102	2	irc	irc	PROPN
ftr-443	1102	3	§	§	PROPN
ftr-443	1102	4	1374(d)(2	1374(d)(2	NUM
ftr-443	1102	5	)	)	PUNCT
ftr-443	1102	6	.	.	PUNCT
ftr-443	1103	1	177	177	NUM
ftr-443	1103	2	.	.	PUNCT
ftr-443	1104	1	irc	irc	PROPN
ftr-443	1104	2	§	§	PROPN
ftr-443	1104	3	1374(d)(2)(b	1374(d)(2)(b	NUM
ftr-443	1104	4	)	)	PUNCT
ftr-443	1104	5	(	(	PUNCT
ftr-443	1104	6	applicable	applicable	ADJ
ftr-443	1104	7	to	to	ADP
ftr-443	1104	8	corporations	corporation	NOUN
ftr-443	1104	9	that	that	PRON
ftr-443	1104	10	filed	file	VERB
ftr-443	1104	11	s	s	PRON
ftr-443	1104	12	elections	election	NOUN
ftr-443	1104	13	after	after	ADP
ftr-443	1104	14	march	march	PROPN
ftr-443	1104	15	30	30	NUM
ftr-443	1104	16	,	,	PUNCT
ftr-443	1104	17	1988	1988	NUM
ftr-443	1104	18	)	)	PUNCT
ftr-443	1104	19	.	.	PUNCT
ftr-443	1105	1	178	178	NUM
ftr-443	1105	2	.	.	PUNCT
ftr-443	1106	1	see	see	VERB
ftr-443	1106	2	regs	reg	NOUN
ftr-443	1106	3	.	.	PUNCT
ftr-443	1107	1	§	§	PROPN
ftr-443	1107	2	1.13744(h)(1	1.13744(h)(1	NUM
ftr-443	1107	3	)	)	PUNCT
ftr-443	1107	4	;	;	PUNCT
ftr-443	1107	5	notice	notice	VERB
ftr-443	1107	6	90	90	NUM
ftr-443	1107	7	-	-	SYM
ftr-443	1107	8	27	27	NUM
ftr-443	1107	9	,	,	PUNCT
ftr-443	1107	10	1990	1990	NUM
ftr-443	1107	11	-	-	SYM
ftr-443	1107	12	1	1	NUM
ftr-443	1107	13	c.b	c.b	PROPN
ftr-443	1107	14	.	.	PROPN
ftr-443	1107	15	336	336	NUM
ftr-443	1107	16	;	;	PUNCT
ftr-443	1107	17	see	see	VERB
ftr-443	1107	18	also	also	ADV
ftr-443	1107	19	irc	irc	ADV
ftr-443	1107	20	§	§	PROPN
ftr-443	1107	21	337(d	337(d	PROPN
ftr-443	1107	22	)	)	PUNCT
ftr-443	1107	23	;	;	PUNCT
ftr-443	1107	24	regs	reg	NOUN
ftr-443	1107	25	.	.	PUNCT
ftr-443	1108	1	§	§	PROPN
ftr-443	1108	2	1.1374	1.1374	NUM
ftr-443	1108	3	-	-	SYM
ftr-443	1108	4	9	9	NUM
ftr-443	1108	5	(	(	PUNCT
ftr-443	1108	6	anti	anti	ADJ
ftr-443	1108	7	-	-	ADJ
ftr-443	1108	8	stuffing	stuffing	ADJ
ftr-443	1108	9	rules	rule	NOUN
ftr-443	1108	10	)	)	PUNCT
ftr-443	1108	11	.	.	PUNCT
ftr-443	1109	1	19991	19991	NUM
ftr-443	1109	2	florida	florida	PROPN
ftr-443	1109	3	tax	tax	PROPN
ftr-443	1109	4	review	review	NOUN
ftr-443	1109	5	conversion	conversion	NOUN
ftr-443	1109	6	appreciation	appreciation	NOUN
ftr-443	1109	7	.	.	PUNCT
ftr-443	1110	1	on	on	ADP
ftr-443	1110	2	the	the	DET
ftr-443	1110	3	other	other	ADJ
ftr-443	1110	4	hand	hand	NOUN
ftr-443	1110	5	,	,	PUNCT
ftr-443	1110	6	the	the	DET
ftr-443	1110	7	features	feature	NOUN
ftr-443	1110	8	of	of	ADP
ftr-443	1110	9	the	the	DET
ftr-443	1110	10	section	section	NOUN
ftr-443	1110	11	1374	1374	NUM
ftr-443	1110	12	tax	tax	NOUN
ftr-443	1110	13	may	may	AUX
ftr-443	1110	14	reflect	reflect	VERB
ftr-443	1110	15	the	the	DET
ftr-443	1110	16	treasury	treasury	NOUN
ftr-443	1110	17	's	's	PART
ftr-443	1110	18	concern	concern	NOUN
ftr-443	1110	19	about	about	ADP
ftr-443	1110	20	the	the	DET
ftr-443	1110	21	number	number	NOUN
ftr-443	1110	22	of	of	ADP
ftr-443	1110	23	c	c	PROPN
ftr-443	1110	24	to	to	ADP
ftr-443	1110	25	s	s	PROPN
ftr-443	1110	26	conversions	conversion	NOUN
ftr-443	1110	27	resulting	result	VERB
ftr-443	1110	28	from	from	ADP
ftr-443	1110	29	the	the	DET
ftr-443	1110	30	1986	1986	NUM
ftr-443	1110	31	changes	change	NOUN
ftr-443	1110	32	and	and	CCONJ
ftr-443	1110	33	the	the	DET
ftr-443	1110	34	expected	expect	VERB
ftr-443	1110	35	revenue	revenue	NOUN
ftr-443	1110	36	drain	drain	NOUN
ftr-443	1110	37	from	from	ADP
ftr-443	1110	38	the	the	DET
ftr-443	1110	39	exodus	exodus	NOUN
ftr-443	1110	40	out	out	ADP
ftr-443	1110	41	of	of	ADP
ftr-443	1110	42	subchapter	subchapter	NOUN
ftr-443	1110	43	c.179	c.179	NOUN
ftr-443	1110	44	after	after	ADP
ftr-443	1110	45	1986	1986	NUM
ftr-443	1110	46	,	,	PUNCT
ftr-443	1110	47	the	the	DET
ftr-443	1110	48	service	service	NOUN
ftr-443	1110	49	and	and	CCONJ
ftr-443	1110	50	the	the	DET
ftr-443	1110	51	treasury	treasury	NOUN
ftr-443	1110	52	wanted	want	VERB
ftr-443	1110	53	dam	dam	NOUN
ftr-443	1110	54	the	the	DET
ftr-443	1110	55	flood	flood	NOUN
ftr-443	1110	56	of	of	ADP
ftr-443	1110	57	c	c	PROPN
ftr-443	1110	58	to	to	ADP
ftr-443	1110	59	s	s	NOUN
ftr-443	1110	60	conversions	conversion	NOUN
ftr-443	1110	61	even	even	ADV
ftr-443	1110	62	further	far	ADV
ftr-443	1110	63	,	,	PUNCT
ftr-443	1110	64	perhaps	perhaps	ADV
ftr-443	1110	65	because	because	SCONJ
ftr-443	1110	66	the	the	DET
ftr-443	1110	67	number	number	NOUN
ftr-443	1110	68	of	of	ADP
ftr-443	1110	69	c	c	PROPN
ftr-443	1110	70	to	to	ADP
ftr-443	1110	71	s	s	NOUN
ftr-443	1110	72	conversions	conversion	NOUN
ftr-443	1110	73	that	that	PRON
ftr-443	1110	74	would	would	AUX
ftr-443	1110	75	occur	occur	VERB
ftr-443	1110	76	as	as	ADP
ftr-443	1110	77	a	a	DET
ftr-443	1110	78	result	result	NOUN
ftr-443	1110	79	of	of	ADP
ftr-443	1110	80	the	the	DET
ftr-443	1110	81	1986	1986	NUM
ftr-443	1110	82	legislation	legislation	NOUN
ftr-443	1110	83	had	have	AUX
ftr-443	1110	84	been	be	AUX
ftr-443	1110	85	underestimated	underestimate	VERB
ftr-443	1110	86	.	.	PUNCT
ftr-443	1111	1	the	the	DET
ftr-443	1111	2	tool	tool	NOUN
ftr-443	1111	3	selected	select	VERB
ftr-443	1111	4	was	be	AUX
ftr-443	1111	5	regulations	regulation	NOUN
ftr-443	1111	6	under	under	ADP
ftr-443	1111	7	the	the	DET
ftr-443	1111	8	one	one	NUM
ftr-443	1111	9	class	class	NOUN
ftr-443	1111	10	of	of	ADP
ftr-443	1111	11	stock	stock	NOUN
ftr-443	1111	12	rule	rule	NOUN
ftr-443	1111	13	.	.	PUNCT
ftr-443	1112	1	the	the	DET
ftr-443	1112	2	case	case	NOUN
ftr-443	1112	3	law	law	NOUN
ftr-443	1112	4	under	under	ADP
ftr-443	1112	5	this	this	DET
ftr-443	1112	6	rule	rule	NOUN
ftr-443	1112	7	had	have	AUX
ftr-443	1112	8	been	be	AUX
ftr-443	1112	9	generally	generally	ADV
ftr-443	1112	10	favorable	favorable	ADJ
ftr-443	1112	11	to	to	ADP
ftr-443	1112	12	s	s	PROPN
ftr-443	1112	13	corporations	corporation	NOUN
ftr-443	1112	14	and	and	CCONJ
ftr-443	1112	15	their	their	PRON
ftr-443	1112	16	shareholders	shareholder	NOUN
ftr-443	1112	17	.	.	PUNCT
ftr-443	1112	18	'	'	PUNCT
ftr-443	1113	1	the	the	DET
ftr-443	1113	2	first	first	ADJ
ftr-443	1113	3	set	set	NOUN
ftr-443	1113	4	of	of	ADP
ftr-443	1113	5	proposed	propose	VERB
ftr-443	1113	6	regulations	regulation	NOUN
ftr-443	1113	7	under	under	ADP
ftr-443	1113	8	a	a	DET
ftr-443	1113	9	revised	revise	VERB
ftr-443	1113	10	one	one	NUM
ftr-443	1113	11	class	class	NOUN
ftr-443	1113	12	of	of	ADP
ftr-443	1113	13	stock	stock	NOUN
ftr-443	1113	14	rule	rule	NOUN
ftr-443	1113	15	,	,	PUNCT
ftr-443	1113	16	issued	issue	VERB
ftr-443	1113	17	in	in	ADP
ftr-443	1113	18	october	october	PROPN
ftr-443	1113	19	,	,	PUNCT
ftr-443	1113	20	1991,18	1991,18	NUM
ftr-443	1113	21	!	!	PUNCT
ftr-443	1113	22	may	may	AUX
ftr-443	1113	23	fairly	fairly	ADV
ftr-443	1113	24	be	be	AUX
ftr-443	1113	25	described	describe	VERB
ftr-443	1113	26	as	as	ADP
ftr-443	1113	27	draconian	draconian	ADJ
ftr-443	1113	28	and	and	CCONJ
ftr-443	1113	29	strayed	strayed	ADJ
ftr-443	1113	30	well	well	ADV
ftr-443	1113	31	beyond	beyond	ADP
ftr-443	1113	32	the	the	DET
ftr-443	1113	33	legislative	legislative	ADJ
ftr-443	1113	34	history	history	NOUN
ftr-443	1113	35	of	of	ADP
ftr-443	1113	36	the	the	DET
ftr-443	1113	37	purpose	purpose	NOUN
ftr-443	1113	38	of	of	ADP
ftr-443	1113	39	the	the	DET
ftr-443	1113	40	one	one	NUM
ftr-443	1113	41	class	class	NOUN
ftr-443	1113	42	of	of	ADP
ftr-443	1113	43	stock	stock	NOUN
ftr-443	1113	44	limitation.8	limitation.8	PROPN
ftr-443	1113	45	2	2	NUM
ftr-443	1113	46	for	for	ADP
ftr-443	1113	47	example	example	NOUN
ftr-443	1113	48	,	,	PUNCT
ftr-443	1113	49	all	all	DET
ftr-443	1113	50	debt	debt	NOUN
ftr-443	1113	51	not	not	PART
ftr-443	1113	52	qualifying	qualify	VERB
ftr-443	1113	53	for	for	SCONJ
ftr-443	1113	54	the	the	DET
ftr-443	1113	55	straight	straight	ADJ
ftr-443	1113	56	debt	debt	NOUN
ftr-443	1113	57	safe	safe	ADJ
ftr-443	1113	58	harbor	harbor	NOUN
ftr-443	1113	59	was	be	AUX
ftr-443	1113	60	automatically	automatically	ADV
ftr-443	1113	61	recharacterized	recharacterize	VERB
ftr-443	1113	62	as	as	ADP
ftr-443	1113	63	a	a	DET
ftr-443	1113	64	second	second	ADJ
ftr-443	1113	65	class	class	NOUN
ftr-443	1113	66	of	of	ADP
ftr-443	1113	67	stock	stock	NOUN
ftr-443	1113	68	.	.	PUNCT
ftr-443	1114	1	'83	'83	NUM
ftr-443	1114	2	a	a	DET
ftr-443	1114	3	nonconforming	nonconforme	VERB
ftr-443	1114	4	distribution	distribution	NOUN
ftr-443	1114	5	rule	rule	NOUN
ftr-443	1114	6	would	would	AUX
ftr-443	1114	7	have	have	AUX
ftr-443	1114	8	raised	raise	VERB
ftr-443	1114	9	the	the	DET
ftr-443	1114	10	specter	specter	NOUN
ftr-443	1114	11	of	of	ADP
ftr-443	1114	12	a	a	DET
ftr-443	1114	13	second	second	ADJ
ftr-443	1114	14	class	class	NOUN
ftr-443	1114	15	of	of	ADP
ftr-443	1114	16	stock	stock	NOUN
ftr-443	1114	17	whenever	whenever	SCONJ
ftr-443	1114	18	any	any	DET
ftr-443	1114	19	economic	economic	ADJ
ftr-443	1114	20	benefit	benefit	NOUN
ftr-443	1114	21	flowed	flow	VERB
ftr-443	1114	22	from	from	ADP
ftr-443	1114	23	the	the	DET
ftr-443	1114	24	corporation	corporation	NOUN
ftr-443	1114	25	to	to	ADP
ftr-443	1114	26	shareholders	shareholder	NOUN
ftr-443	1114	27	disproportionately	disproportionately	ADV
ftr-443	1114	28	with	with	ADP
ftr-443	1114	29	stock	stock	NOUN
ftr-443	1114	30	ownership	ownership	NOUN
ftr-443	1114	31	.	.	PUNCT
ftr-443	1114	32	"	"	PUNCT
ftr-443	1115	1	under	under	ADP
ftr-443	1115	2	this	this	DET
ftr-443	1115	3	rule	rule	NOUN
ftr-443	1115	4	,	,	PUNCT
ftr-443	1115	5	actual	actual	ADJ
ftr-443	1115	6	and	and	CCONJ
ftr-443	1115	7	constructive	constructive	ADJ
ftr-443	1115	8	distributions	distribution	NOUN
ftr-443	1115	9	,	,	PUNCT
ftr-443	1115	10	compensation	compensation	NOUN
ftr-443	1115	11	,	,	PUNCT
ftr-443	1115	12	fringe	fringe	NOUN
ftr-443	1115	13	benefits	benefit	NOUN
ftr-443	1115	14	,	,	PUNCT
ftr-443	1115	15	and	and	CCONJ
ftr-443	1115	16	numerous	numerous	ADJ
ftr-443	1115	17	other	other	ADJ
ftr-443	1115	18	types	type	NOUN
ftr-443	1115	19	of	of	ADP
ftr-443	1115	20	payments	payment	NOUN
ftr-443	1115	21	would	would	AUX
ftr-443	1115	22	have	have	AUX
ftr-443	1115	23	had	have	VERB
ftr-443	1115	24	to	to	PART
ftr-443	1115	25	have	have	AUX
ftr-443	1115	26	been	be	AUX
ftr-443	1115	27	analyzed	analyze	VERB
ftr-443	1115	28	closely	closely	ADV
ftr-443	1115	29	.	.	PUNCT
ftr-443	1116	1	this	this	DET
ftr-443	1116	2	nonconforming	nonconforme	VERB
ftr-443	1116	3	distribution	distribution	NOUN
ftr-443	1116	4	rule	rule	NOUN
ftr-443	1116	5	had	have	VERB
ftr-443	1116	6	all	all	DET
ftr-443	1116	7	the	the	DET
ftr-443	1116	8	characteristics	characteristic	NOUN
ftr-443	1116	9	of	of	ADP
ftr-443	1116	10	an	an	DET
ftr-443	1116	11	interrorum	interrorum	ADJ
ftr-443	1116	12	provision	provision	NOUN
ftr-443	1116	13	.	.	PUNCT
ftr-443	1117	1	its	its	PRON
ftr-443	1117	2	policy	policy	NOUN
ftr-443	1117	3	objectives	objective	NOUN
ftr-443	1117	4	were	be	AUX
ftr-443	1117	5	greatly	greatly	ADV
ftr-443	1117	6	exceeded	exceed	VERB
ftr-443	1117	7	by	by	ADP
ftr-443	1117	8	the	the	DET
ftr-443	1117	9	applicable	applicable	ADJ
ftr-443	1117	10	sanction	sanction	NOUN
ftr-443	1117	11	of	of	ADP
ftr-443	1117	12	a	a	DET
ftr-443	1117	13	termination	termination	NOUN
ftr-443	1117	14	.	.	PUNCT
ftr-443	1118	1	in	in	ADP
ftr-443	1118	2	-	-	PUNCT
ftr-443	1118	3	the	the	DET
ftr-443	1118	4	-	-	PUNCT
ftr-443	1118	5	money	money	NOUN
ftr-443	1118	6	options	option	NOUN
ftr-443	1118	7	were	be	AUX
ftr-443	1118	8	also	also	ADV
ftr-443	1118	9	targeted	target	VERB
ftr-443	1118	10	for	for	ADP
ftr-443	1118	11	second	second	ADJ
ftr-443	1118	12	class	class	NOUN
ftr-443	1118	13	of	of	ADP
ftr-443	1118	14	stock	stock	NOUN
ftr-443	1118	15	treatment	treatment	NOUN
ftr-443	1118	16	.	.	PUNCT
ftr-443	1119	1	the	the	DET
ftr-443	1119	2	regulations	regulation	NOUN
ftr-443	1119	3	were	be	AUX
ftr-443	1119	4	to	to	PART
ftr-443	1119	5	be	be	AUX
ftr-443	1119	6	given	give	VERB
ftr-443	1119	7	retroactive	retroactive	ADJ
ftr-443	1119	8	application	application	NOUN
ftr-443	1119	9	.	.	PUNCT
ftr-443	1120	1	in	in	ADP
ftr-443	1120	2	addition	addition	NOUN
ftr-443	1120	3	to	to	ADP
ftr-443	1120	4	the	the	DET
ftr-443	1120	5	other	other	ADJ
ftr-443	1120	6	defects	defect	NOUN
ftr-443	1120	7	evident	evident	ADJ
ftr-443	1120	8	in	in	ADP
ftr-443	1120	9	the	the	DET
ftr-443	1120	10	proposed	propose	VERB
ftr-443	1120	11	regulations	regulation	NOUN
ftr-443	1120	12	,	,	PUNCT
ftr-443	1120	13	this	this	DET
ftr-443	1120	14	last	last	ADJ
ftr-443	1120	15	feature	feature	NOUN
ftr-443	1120	16	caught	catch	VERB
ftr-443	1120	17	the	the	DET
ftr-443	1120	18	attention	attention	NOUN
ftr-443	1120	19	of	of	ADP
ftr-443	1120	20	senator	senator	PROPN
ftr-443	1120	21	david	david	PROPN
ftr-443	1120	22	pryor	pryor	PROPN
ftr-443	1120	23	,	,	PUNCT
ftr-443	1120	24	former	former	ADJ
ftr-443	1120	25	chairman	chairman	NOUN
ftr-443	1120	26	of	of	ADP
ftr-443	1120	27	the	the	DET
ftr-443	1120	28	senate	senate	PROPN
ftr-443	1120	29	oversight	oversight	NOUN
ftr-443	1120	30	subcommittee	subcommittee	NOUN
ftr-443	1120	31	of	of	ADP
ftr-443	1120	32	the	the	DET
ftr-443	1120	33	senate	senate	PROPN
ftr-443	1120	34	finance	finance	PROPN
ftr-443	1120	35	committee	committee	NOUN
ftr-443	1120	36	,	,	PUNCT
ftr-443	1120	37	who	who	PRON
ftr-443	1120	38	labeled	label	VERB
ftr-443	1120	39	this	this	DET
ftr-443	1120	40	provision	provision	NOUN
ftr-443	1120	41	a	a	DET
ftr-443	1120	42	"	"	PUNCT
ftr-443	1120	43	dirty	dirty	ADJ
ftr-443	1120	44	trick	trick	NOUN
ftr-443	1120	45	"	"	PUNCT
ftr-443	1120	46	on	on	ADP
ftr-443	1120	47	small	small	ADJ
ftr-443	1120	48	and	and	CCONJ
ftr-443	1120	49	family	family	NOUN
ftr-443	1120	50	owned	own	VERB
ftr-443	1120	51	business.8	business.8	PROPN
ftr-443	1120	52	5	5	NUM
ftr-443	1120	53	179	179	NUM
ftr-443	1120	54	.	.	PUNCT
ftr-443	1121	1	see	see	VERB
ftr-443	1121	2	generally	generally	ADV
ftr-443	1121	3	,	,	PUNCT
ftr-443	1121	4	nelson	nelson	PROPN
ftr-443	1121	5	,	,	PUNCT
ftr-443	1121	6	supra	supra	PROPN
ftr-443	1121	7	note	note	NOUN
ftr-443	1121	8	28	28	NUM
ftr-443	1121	9	.	.	PUNCT
ftr-443	1122	1	180	180	NUM
ftr-443	1122	2	.	.	PUNCT
ftr-443	1123	1	see	see	VERB
ftr-443	1123	2	portage	portage	NOUN
ftr-443	1123	3	plastics	plastics	PROPN
ftr-443	1123	4	co.	co.	PROPN
ftr-443	1123	5	v.	v.	PROPN
ftr-443	1123	6	united	united	PROPN
ftr-443	1123	7	states	states	PROPN
ftr-443	1123	8	,	,	PUNCT
ftr-443	1123	9	486	486	NUM
ftr-443	1123	10	f.2d	f.2d	NOUN
ftr-443	1123	11	632	632	NUM
ftr-443	1123	12	(	(	PUNCT
ftr-443	1123	13	7th	7th	ADJ
ftr-443	1123	14	cir	cir	NOUN
ftr-443	1123	15	.	.	PROPN
ftr-443	1123	16	1973	1973	NUM
ftr-443	1123	17	)	)	PUNCT
ftr-443	1123	18	;	;	PUNCT
ftr-443	1123	19	amory	amory	NOUN
ftr-443	1123	20	cotton	cotton	PROPN
ftr-443	1123	21	oil	oil	PROPN
ftr-443	1123	22	co.	co.	PROPN
ftr-443	1123	23	v.	v.	PROPN
ftr-443	1123	24	united	united	PROPN
ftr-443	1123	25	states	states	PROPN
ftr-443	1123	26	,	,	PUNCT
ftr-443	1123	27	468	468	NUM
ftr-443	1123	28	f.2d	f.2d	NOUN
ftr-443	1123	29	1046	1046	NUM
ftr-443	1123	30	(	(	PUNCT
ftr-443	1123	31	5th	5th	ADJ
ftr-443	1123	32	cir	cir	NOUN
ftr-443	1123	33	.	.	PROPN
ftr-443	1123	34	1972	1972	NUM
ftr-443	1123	35	)	)	PUNCT
ftr-443	1123	36	;	;	PUNCT
ftr-443	1123	37	stinnett	stinnett	PROPN
ftr-443	1123	38	v.	v.	PROPN
ftr-443	1123	39	commissioner	commissioner	PROPN
ftr-443	1123	40	,	,	PUNCT
ftr-443	1123	41	54	54	NUM
ftr-443	1123	42	t.c	t.c	PROPN
ftr-443	1123	43	.	.	PROPN
ftr-443	1123	44	221	221	NUM
ftr-443	1123	45	(	(	PUNCT
ftr-443	1123	46	1970	1970	NUM
ftr-443	1123	47	)	)	PUNCT
ftr-443	1123	48	;	;	PUNCT
ftr-443	1123	49	gamman	gamman	NOUN
ftr-443	1123	50	v.	v.	PROPN
ftr-443	1123	51	commissioner	commissioner	PROPN
ftr-443	1123	52	,	,	PUNCT
ftr-443	1123	53	46	46	NUM
ftr-443	1123	54	t.c	t.c	PROPN
ftr-443	1123	55	.	.	PROPN
ftr-443	1123	56	1	1	NUM
ftr-443	1123	57	(	(	PUNCT
ftr-443	1123	58	1966	1966	NUM
ftr-443	1123	59	)	)	PUNCT
ftr-443	1123	60	.	.	PUNCT
ftr-443	1124	1	181	181	X
ftr-443	1124	2	.	.	PUNCT
ftr-443	1125	1	see	see	VERB
ftr-443	1125	2	one	one	NUM
ftr-443	1125	3	class	class	NOUN
ftr-443	1125	4	of	of	ADP
ftr-443	1125	5	stock	stock	NOUN
ftr-443	1125	6	requirement	requirement	NOUN
ftr-443	1125	7	,	,	PUNCT
ftr-443	1125	8	55	55	NUM
ftr-443	1125	9	fed	feed	VERB
ftr-443	1125	10	.	.	PUNCT
ftr-443	1126	1	reg	reg	PROPN
ftr-443	1126	2	.	.	PUNCT
ftr-443	1127	1	40,870	40,870	NUM
ftr-443	1127	2	(	(	PUNCT
ftr-443	1127	3	1990	1990	NUM
ftr-443	1127	4	)	)	PUNCT
ftr-443	1127	5	,	,	PUNCT
ftr-443	1127	6	reprinted	reprint	VERB
ftr-443	1127	7	in	in	ADP
ftr-443	1127	8	ps-4	ps-4	NOUN
ftr-443	1127	9	-	-	PUNCT
ftr-443	1127	10	83	83	NUM
ftr-443	1127	11	,	,	PUNCT
ftr-443	1127	12	1990	1990	NUM
ftr-443	1127	13	-	-	SYM
ftr-443	1127	14	2	2	NUM
ftr-443	1127	15	c.b	c.b	PROPN
ftr-443	1127	16	.	.	PROPN
ftr-443	1127	17	864	864	NUM
ftr-443	1127	18	.	.	PUNCT
ftr-443	1128	1	182	182	NUM
ftr-443	1128	2	.	.	PUNCT
ftr-443	1129	1	see	see	VERB
ftr-443	1129	2	jerald	jerald	PROPN
ftr-443	1129	3	d.	d.	PROPN
ftr-443	1129	4	august	august	PROPN
ftr-443	1129	5	,	,	PUNCT
ftr-443	1129	6	editor	editor	NOUN
ftr-443	1129	7	's	's	PART
ftr-443	1129	8	comment	comment	NOUN
ftr-443	1129	9	:	:	PUNCT
ftr-443	1129	10	the	the	DET
ftr-443	1129	11	subchapter	subchapter	NOUN
ftr-443	1129	12	s	s	PART
ftr-443	1129	13	termination	termination	NOUN
ftr-443	1129	14	act	act	NOUN
ftr-443	1129	15	?	?	PUNCT
ftr-443	1130	1	3	3	NUM
ftr-443	1130	2	j.	j.	PROPN
ftr-443	1130	3	s	s	PROPN
ftr-443	1130	4	corp	corp	PROPN
ftr-443	1130	5	.	.	PROPN
ftr-443	1131	1	tax'n	tax'n	ADP
ftr-443	1131	2	53	53	NUM
ftr-443	1131	3	(	(	PUNCT
ftr-443	1131	4	1991	1991	NUM
ftr-443	1131	5	)	)	PUNCT
ftr-443	1131	6	.	.	PUNCT
ftr-443	1132	1	183	183	NUM
ftr-443	1132	2	.	.	PUNCT
ftr-443	1132	3	see	see	VERB
ftr-443	1132	4	one	one	NUM
ftr-443	1132	5	class	class	NOUN
ftr-443	1132	6	of	of	ADP
ftr-443	1132	7	stock	stock	NOUN
ftr-443	1132	8	requirement	requirement	NOUN
ftr-443	1132	9	,	,	PUNCT
ftr-443	1132	10	55	55	NUM
ftr-443	1132	11	fed	feed	VERB
ftr-443	1132	12	.	.	PUNCT
ftr-443	1133	1	reg	reg	PROPN
ftr-443	1133	2	.	.	PUNCT
ftr-443	1134	1	at	at	ADP
ftr-443	1134	2	40,873	40,873	NUM
ftr-443	1134	3	(	(	PUNCT
ftr-443	1134	4	former	former	ADJ
ftr-443	1134	5	prop	prop	NOUN
ftr-443	1134	6	.	.	PUNCT
ftr-443	1135	1	regs	regs	PROPN
ftr-443	1135	2	.	.	PUNCT
ftr-443	1136	1	§	§	PROPN
ftr-443	1136	2	1.1361	1.1361	NUM
ftr-443	1136	3	-	-	SYM
ftr-443	1136	4	1(l)(3)(ii	1(l)(3)(ii	NUM
ftr-443	1136	5	)	)	PUNCT
ftr-443	1136	6	)	)	PUNCT
ftr-443	1136	7	,	,	PUNCT
ftr-443	1136	8	reprinted	reprint	VERB
ftr-443	1136	9	in	in	ADP
ftr-443	1136	10	ps-4	ps-4	NOUN
ftr-443	1136	11	-	-	PUNCT
ftr-443	1136	12	73	73	NUM
ftr-443	1136	13	,	,	PUNCT
ftr-443	1136	14	1991	1991	NUM
ftr-443	1136	15	-	-	SYM
ftr-443	1136	16	2	2	NUM
ftr-443	1136	17	c.b	c.b	PROPN
ftr-443	1136	18	.	.	PROPN
ftr-443	1136	19	1092	1092	NUM
ftr-443	1136	20	.	.	PUNCT
ftr-443	1137	1	184	184	X
ftr-443	1137	2	.	.	PUNCT
ftr-443	1137	3	see	see	VERB
ftr-443	1137	4	i	i	PRON
ftr-443	1137	5	d.	d.	PROPN
ftr-443	1137	6	(	(	PUNCT
ftr-443	1137	7	former	former	ADJ
ftr-443	1137	8	prop	prop	NOUN
ftr-443	1137	9	.	.	PUNCT
ftr-443	1137	10	regs	regs	PROPN
ftr-443	1137	11	.	.	PUNCT
ftr-443	1138	1	§	§	PROPN
ftr-443	1138	2	1.1361	1.1361	NUM
ftr-443	1138	3	-	-	SYM
ftr-443	1138	4	1(o)(2)(ii	1(o)(2)(ii	NUM
ftr-443	1138	5	)	)	PUNCT
ftr-443	1138	6	)	)	PUNCT
ftr-443	1138	7	.	.	PUNCT
ftr-443	1139	1	185	185	NUM
ftr-443	1139	2	.	.	PUNCT
ftr-443	1140	1	see	see	VERB
ftr-443	1140	2	137	137	NUM
ftr-443	1140	3	cong	cong	NOUN
ftr-443	1140	4	.	.	PUNCT
ftr-443	1141	1	rec	rec	X
ftr-443	1141	2	.	.	PUNCT
ftr-443	1142	1	s1852	s1852	PROPN
ftr-443	1142	2	-	-	PUNCT
ftr-443	1142	3	02	02	NUM
ftr-443	1142	4	(	(	PUNCT
ftr-443	1142	5	daily	daily	PROPN
ftr-443	1142	6	ed	ed	NOUN
ftr-443	1142	7	.	.	PUNCT
ftr-443	1143	1	feb	feb	PROPN
ftr-443	1143	2	.	.	PROPN
ftr-443	1143	3	7	7	NUM
ftr-443	1143	4	,	,	PUNCT
ftr-443	1143	5	1991	1991	NUM
ftr-443	1143	6	)	)	PUNCT
ftr-443	1143	7	(	(	PUNCT
ftr-443	1143	8	statement	statement	NOUN
ftr-443	1143	9	of	of	ADP
ftr-443	1143	10	senator	senator	PROPN
ftr-443	1143	11	pryor	pryor	PROPN
ftr-443	1143	12	)	)	PUNCT
ftr-443	1143	13	.	.	PUNCT
ftr-443	1144	1	in	in	ADP
ftr-443	1144	2	response	response	NOUN
ftr-443	1144	3	to	to	ADP
ftr-443	1144	4	sharp	sharp	ADJ
ftr-443	1144	5	criticism	criticism	NOUN
ftr-443	1144	6	voiced	voice	VERB
ftr-443	1144	7	from	from	ADP
ftr-443	1144	8	the	the	DET
ftr-443	1144	9	professional	professional	ADJ
ftr-443	1144	10	community	community	NOUN
ftr-443	1144	11	,	,	PUNCT
ftr-443	1144	12	as	as	ADV
ftr-443	1144	13	well	well	ADV
ftr-443	1144	14	as	as	ADP
ftr-443	1144	15	from	from	ADP
ftr-443	1144	16	senators	senators	PROPN
ftr-443	1144	17	pryor	pryor	PROPN
ftr-443	1144	18	and	and	CCONJ
ftr-443	1144	19	bumpers	bumper	NOUN
ftr-443	1144	20	,	,	PUNCT
ftr-443	1144	21	the	the	DET
ftr-443	1144	22	service	service	NOUN
ftr-443	1144	23	later	later	ADV
ftr-443	1144	24	announced	announce	VERB
ftr-443	1144	25	that	that	SCONJ
ftr-443	1144	26	the	the	DET
ftr-443	1144	27	proposed	propose	VERB
ftr-443	1144	28	regulations	regulation	NOUN
ftr-443	1144	29	would	would	AUX
ftr-443	1144	30	[	[	X
ftr-443	1144	31	vol	vol	VERB
ftr-443	1144	32	4:3	4:3	NUM
ftr-443	1144	33	benefits	benefit	NOUN
ftr-443	1144	34	and	and	CCONJ
ftr-443	1144	35	burdens	burden	NOUN
ftr-443	1144	36	of	of	ADP
ftr-443	1144	37	subchapter	subchapter	NOUN
ftr-443	1144	38	s	s	PRON
ftr-443	1144	39	retreating	retreat	VERB
ftr-443	1144	40	from	from	ADP
ftr-443	1144	41	the	the	DET
ftr-443	1144	42	criticism	criticism	NOUN
ftr-443	1144	43	and	and	CCONJ
ftr-443	1144	44	controversy	controversy	NOUN
ftr-443	1144	45	generated	generate	VERB
ftr-443	1144	46	by	by	ADP
ftr-443	1144	47	its	its	PRON
ftr-443	1144	48	initial	initial	ADJ
ftr-443	1144	49	proposals	proposal	NOUN
ftr-443	1144	50	,	,	PUNCT
ftr-443	1144	51	the	the	DET
ftr-443	1144	52	service	service	NOUN
ftr-443	1144	53	issued	issue	VERB
ftr-443	1144	54	new	new	ADJ
ftr-443	1144	55	proposed	propose	VERB
ftr-443	1144	56	regulations	regulation	NOUN
ftr-443	1144	57	,	,	PUNCT
ftr-443	1144	58	completely	completely	ADV
ftr-443	1144	59	replacing	replace	VERB
ftr-443	1144	60	the	the	DET
ftr-443	1144	61	first	first	ADJ
ftr-443	1144	62	set.1	set.1	PROPN
ftr-443	1144	63	6	6	NUM
ftr-443	1144	64	the	the	DET
ftr-443	1144	65	final	final	ADJ
ftr-443	1144	66	regulations	regulation	NOUN
ftr-443	1144	67	,	,	PUNCT
ftr-443	1144	68	issued	issue	VERB
ftr-443	1144	69	in	in	ADP
ftr-443	1144	70	may	may	PROPN
ftr-443	1144	71	1992	1992	NUM
ftr-443	1144	72	,	,	PUNCT
ftr-443	1144	73	were	be	AUX
ftr-443	1144	74	much	much	ADV
ftr-443	1144	75	softer	soft	ADJ
ftr-443	1144	76	and	and	CCONJ
ftr-443	1144	77	gentler	gentle	ADJ
ftr-443	1144	78	and	and	CCONJ
ftr-443	1144	79	generally	generally	ADV
ftr-443	1144	80	were	be	AUX
ftr-443	1144	81	well	well	ADV
ftr-443	1144	82	received	receive	VERB
ftr-443	1144	83	by	by	ADP
ftr-443	1144	84	the	the	DET
ftr-443	1144	85	professional	professional	ADJ
ftr-443	1144	86	community	community	NOUN
ftr-443	1144	87	.	.	PUNCT
ftr-443	1144	88	'	'	PUNCT
ftr-443	1145	1	the	the	DET
ftr-443	1145	2	one	one	NUM
ftr-443	1145	3	class	class	NOUN
ftr-443	1145	4	of	of	ADP
ftr-443	1145	5	stock	stock	NOUN
ftr-443	1145	6	regulation	regulation	NOUN
ftr-443	1145	7	project	project	NOUN
ftr-443	1145	8	,	,	PUNCT
ftr-443	1145	9	which	which	PRON
ftr-443	1145	10	was	be	AUX
ftr-443	1145	11	a	a	DET
ftr-443	1145	12	public	public	ADJ
ftr-443	1145	13	relations	relation	NOUN
ftr-443	1145	14	debacle	debacle	NOUN
ftr-443	1145	15	for	for	ADP
ftr-443	1145	16	the	the	DET
ftr-443	1145	17	service	service	NOUN
ftr-443	1145	18	and	and	CCONJ
ftr-443	1145	19	the	the	DET
ftr-443	1145	20	treasury	treasury	NOUN
ftr-443	1145	21	,	,	PUNCT
ftr-443	1145	22	fostered	foster	VERB
ftr-443	1145	23	a	a	DET
ftr-443	1145	24	belief	belief	NOUN
ftr-443	1145	25	among	among	ADP
ftr-443	1145	26	tax	tax	NOUN
ftr-443	1145	27	professionals	professional	NOUN
ftr-443	1145	28	and	and	CCONJ
ftr-443	1145	29	the	the	DET
ftr-443	1145	30	business	business	NOUN
ftr-443	1145	31	community	community	NOUN
ftr-443	1145	32	that	that	DET
ftr-443	1145	33	subchapter	subchapter	NOUN
ftr-443	1145	34	s	s	VERB
ftr-443	1145	35	was	be	AUX
ftr-443	1145	36	in	in	ADP
ftr-443	1145	37	need	need	NOUN
ftr-443	1145	38	of	of	ADP
ftr-443	1145	39	assistance	assistance	NOUN
ftr-443	1145	40	.	.	PUNCT
ftr-443	1146	1	statutory	statutory	ADJ
ftr-443	1146	2	revisions	revision	NOUN
ftr-443	1146	3	to	to	PART
ftr-443	1146	4	subchapter	subchapter	NOUN
ftr-443	1146	5	s	s	VERB
ftr-443	1146	6	were	be	AUX
ftr-443	1146	7	proposed	propose	VERB
ftr-443	1146	8	in	in	ADP
ftr-443	1146	9	1993	1993	NUM
ftr-443	1146	10	by	by	ADP
ftr-443	1146	11	senators	senators	PROPN
ftr-443	1146	12	pryor	pryor	PROPN
ftr-443	1146	13	and	and	CCONJ
ftr-443	1146	14	danforth	danforth	PROPN
ftr-443	1146	15	,	,	PUNCT
ftr-443	1146	16	s	s	PART
ftr-443	1146	17	which	which	PRON
ftr-443	1146	18	included	include	VERB
ftr-443	1146	19	the	the	DET
ftr-443	1146	20	following	following	NOUN
ftr-443	1146	21	:	:	PUNCT
ftr-443	1146	22	1	1	X
ftr-443	1146	23	.	.	X
ftr-443	1146	24	increase	increase	VERB
ftr-443	1146	25	the	the	DET
ftr-443	1146	26	maximum	maximum	ADJ
ftr-443	1146	27	number	number	NOUN
ftr-443	1146	28	of	of	ADP
ftr-443	1146	29	shareholders	shareholder	NOUN
ftr-443	1146	30	to	to	ADP
ftr-443	1146	31	75	75	NUM
ftr-443	1146	32	;	;	PUNCT
ftr-443	1146	33	2	2	X
ftr-443	1146	34	.	.	X
ftr-443	1146	35	provide	provide	VERB
ftr-443	1146	36	family	family	NOUN
ftr-443	1146	37	attribution	attribution	NOUN
ftr-443	1146	38	for	for	ADP
ftr-443	1146	39	shareholder	shareholder	NOUN
ftr-443	1146	40	counting	counting	NOUN
ftr-443	1146	41	;	;	PUNCT
ftr-443	1146	42	3	3	X
ftr-443	1146	43	.	.	X
ftr-443	1146	44	permit	permit	VERB
ftr-443	1146	45	exempt	exempt	ADJ
ftr-443	1146	46	organizations	organization	NOUN
ftr-443	1146	47	to	to	PART
ftr-443	1146	48	be	be	AUX
ftr-443	1146	49	s	s	NOUN
ftr-443	1146	50	shareholders	shareholder	NOUN
ftr-443	1146	51	;	;	PUNCT
ftr-443	1146	52	4	4	X
ftr-443	1146	53	.	.	X
ftr-443	1146	54	allow	allow	VERB
ftr-443	1146	55	nonresident	nonresident	ADJ
ftr-443	1146	56	alien	alien	ADJ
ftr-443	1146	57	shareholders	shareholder	NOUN
ftr-443	1146	58	,	,	PUNCT
ftr-443	1146	59	and	and	CCONJ
ftr-443	1146	60	extend	extend	VERB
ftr-443	1146	61	the	the	DET
ftr-443	1146	62	partnership	partnership	NOUN
ftr-443	1146	63	withholding	withholding	NOUN
ftr-443	1146	64	rules	rule	NOUN
ftr-443	1146	65	of	of	ADP
ftr-443	1146	66	section	section	NOUN
ftr-443	1146	67	1446	1446	NUM
ftr-443	1146	68	to	to	ADP
ftr-443	1146	69	foreign	foreign	NOUN
ftr-443	1146	70	s	s	PART
ftr-443	1146	71	shareholders;189	shareholders;189	PROPN
ftr-443	1146	72	5	5	NUM
ftr-443	1146	73	.	.	PUNCT
ftr-443	1146	74	allow	allow	VERB
ftr-443	1146	75	discretionary	discretionary	ADJ
ftr-443	1146	76	trusts	trust	NOUN
ftr-443	1146	77	to	to	PART
ftr-443	1146	78	own	own	VERB
ftr-443	1146	79	s	s	PART
ftr-443	1146	80	stock	stock	NOUN
ftr-443	1146	81	;	;	PUNCT
ftr-443	1146	82	6	6	NUM
ftr-443	1146	83	.	.	X
ftr-443	1146	84	permit	permit	PROPN
ftr-443	1146	85	s	s	PART
ftr-443	1146	86	corporations	corporation	NOUN
ftr-443	1146	87	to	to	PART
ftr-443	1146	88	issue	issue	VERB
ftr-443	1146	89	simple	simple	ADJ
ftr-443	1146	90	preferred	preferred	ADJ
ftr-443	1146	91	stock	stock	NOUN
ftr-443	1146	92	;	;	PUNCT
ftr-443	1146	93	7	7	X
ftr-443	1146	94	.	.	X
ftr-443	1146	95	permit	permit	VERB
ftr-443	1146	96	financial	financial	ADJ
ftr-443	1146	97	institutions	institution	NOUN
ftr-443	1146	98	to	to	PART
ftr-443	1146	99	hold	hold	VERB
ftr-443	1146	100	safe	safe	ADJ
ftr-443	1146	101	harbor	harbor	NOUN
ftr-443	1146	102	debt	debt	NOUN
ftr-443	1146	103	,	,	PUNCT
ftr-443	1146	104	and	and	CCONJ
ftr-443	1146	105	permit	permit	VERB
ftr-443	1146	106	some	some	DET
ftr-443	1146	107	convertible	convertible	ADJ
ftr-443	1146	108	debt	debt	NOUN
ftr-443	1146	109	to	to	PART
ftr-443	1146	110	be	be	AUX
ftr-443	1146	111	safe	safe	ADJ
ftr-443	1146	112	harbor	harbor	NOUN
ftr-443	1146	113	debt	debt	NOUN
ftr-443	1146	114	;	;	PUNCT
ftr-443	1146	115	only	only	ADV
ftr-443	1146	116	apply	apply	VERB
ftr-443	1146	117	prospectively	prospectively	ADV
ftr-443	1146	118	.	.	PUNCT
ftr-443	1147	1	a	a	DET
ftr-443	1147	2	proposed	propose	VERB
ftr-443	1147	3	legislative	legislative	ADJ
ftr-443	1147	4	override	override	NOUN
ftr-443	1147	5	was	be	AUX
ftr-443	1147	6	introduced	introduce	VERB
ftr-443	1147	7	.	.	PUNCT
ftr-443	1148	1	tax	tax	NOUN
ftr-443	1148	2	simplification	simplification	NOUN
ftr-443	1148	3	bill	bill	NOUN
ftr-443	1148	4	of	of	ADP
ftr-443	1148	5	1991	1991	NUM
ftr-443	1148	6	,	,	PUNCT
ftr-443	1148	7	h.r	h.r	PROPN
ftr-443	1148	8	.	.	PROPN
ftr-443	1148	9	2777	2777	NUM
ftr-443	1148	10	,	,	PUNCT
ftr-443	1148	11	s.	s.	PROPN
ftr-443	1148	12	1394	1394	NUM
ftr-443	1148	13	,	,	PUNCT
ftr-443	1148	14	102d	102d	NUM
ftr-443	1148	15	cong	cong	NOUN
ftr-443	1148	16	.	.	PUNCT
ftr-443	1148	17	,	,	PUNCT
ftr-443	1148	18	§	§	PROPN
ftr-443	1148	19	401	401	NUM
ftr-443	1148	20	(	(	PUNCT
ftr-443	1148	21	1991	1991	NUM
ftr-443	1148	22	)	)	PUNCT
ftr-443	1148	23	.	.	PUNCT
ftr-443	1149	1	a	a	DET
ftr-443	1149	2	few	few	ADJ
ftr-443	1149	3	of	of	ADP
ftr-443	1149	4	the	the	DET
ftr-443	1149	5	articles	article	NOUN
ftr-443	1149	6	on	on	ADP
ftr-443	1149	7	the	the	DET
ftr-443	1149	8	proposed	propose	VERB
ftr-443	1149	9	regulations	regulation	NOUN
ftr-443	1149	10	include	include	VERB
ftr-443	1149	11	richard	richard	PROPN
ftr-443	1149	12	d.	d.	PROPN
ftr-443	1149	13	blau	blau	PROPN
ftr-443	1149	14	&	&	CCONJ
ftr-443	1149	15	bruce	bruce	PROPN
ftr-443	1149	16	n.	n.	PROPN
ftr-443	1149	17	lemons	lemons	PROPN
ftr-443	1149	18	,	,	PUNCT
ftr-443	1149	19	s	s	PART
ftr-443	1149	20	corps	corps	NOUN
ftr-443	1149	21	.	.	PUNCT
ftr-443	1150	1	may	may	AUX
ftr-443	1150	2	face	face	VERB
ftr-443	1150	3	retroactive	retroactive	ADJ
ftr-443	1150	4	terminations	termination	NOUN
ftr-443	1150	5	under	under	ADP
ftr-443	1150	6	prop	prop	NOUN
ftr-443	1150	7	.	.	PUNCT
ftr-443	1151	1	regs	regs	PROPN
ftr-443	1151	2	.	.	PUNCT
ftr-443	1152	1	on	on	ADP
ftr-443	1152	2	single	single	ADJ
ftr-443	1152	3	class	class	NOUN
ftr-443	1152	4	of	of	ADP
ftr-443	1152	5	stock	stock	NOUN
ftr-443	1152	6	.	.	PUNCT
ftr-443	1153	1	74	74	NUM
ftr-443	1153	2	j.	j.	PROPN
ftr-443	1153	3	tax'n	tax'n	PROPN
ftr-443	1153	4	24	24	NUM
ftr-443	1153	5	(	(	PUNCT
ftr-443	1153	6	1991	1991	NUM
ftr-443	1153	7	)	)	PUNCT
ftr-443	1153	8	;	;	PUNCT
ftr-443	1153	9	jack	jack	PROPN
ftr-443	1153	10	s.	s.	PROPN
ftr-443	1153	11	levin	levin	PROPN
ftr-443	1153	12	&	&	CCONJ
ftr-443	1153	13	philip	philip	PROPN
ftr-443	1153	14	a.	a.	PROPN
ftr-443	1153	15	stoffregen	stoffregen	PROPN
ftr-443	1153	16	,	,	PUNCT
ftr-443	1153	17	new	new	ADJ
ftr-443	1153	18	"	"	PUNCT
ftr-443	1153	19	s	s	NOUN
ftr-443	1153	20	"	"	PUNCT
ftr-443	1153	21	second	second	ADJ
ftr-443	1153	22	-	-	PUNCT
ftr-443	1153	23	class	class	NOUN
ftr-443	1153	24	of	of	ADP
ftr-443	1153	25	stock	stock	NOUN
ftr-443	1153	26	proposed	propose	VERB
ftr-443	1153	27	regulation	regulation	NOUN
ftr-443	1153	28	-	-	PUNCT
ftr-443	1153	29	a	a	DET
ftr-443	1153	30	gigantic	gigantic	ADJ
ftr-443	1153	31	trap	trap	NOUN
ftr-443	1153	32	,	,	PUNCT
ftr-443	1153	33	50	50	NUM
ftr-443	1153	34	tax	tax	NOUN
ftr-443	1153	35	notes	note	NOUN
ftr-443	1153	36	641	641	NUM
ftr-443	1153	37	(	(	PUNCT
ftr-443	1153	38	feb	feb	PROPN
ftr-443	1153	39	.	.	PROPN
ftr-443	1153	40	11	11	NUM
ftr-443	1153	41	,	,	PUNCT
ftr-443	1153	42	1991	1991	NUM
ftr-443	1153	43	)	)	PUNCT
ftr-443	1153	44	;	;	PUNCT
ftr-443	1153	45	richard	richard	PROPN
ftr-443	1153	46	m.	m.	PROPN
ftr-443	1153	47	lipton	lipton	PROPN
ftr-443	1153	48	,	,	PUNCT
ftr-443	1153	49	the	the	DET
ftr-443	1153	50	proposed	propose	VERB
ftr-443	1153	51	one	one	NUM
ftr-443	1153	52	class	class	NOUN
ftr-443	1153	53	of	of	ADP
ftr-443	1153	54	stock	stock	NOUN
ftr-443	1153	55	regulations	regulation	NOUN
ftr-443	1153	56	:	:	PUNCT
ftr-443	1153	57	a	a	DET
ftr-443	1153	58	first	first	ADJ
ftr-443	1153	59	class	class	NOUN
ftr-443	1153	60	problem	problem	NOUN
ftr-443	1153	61	,	,	PUNCT
ftr-443	1153	62	49	49	NUM
ftr-443	1153	63	tax	tax	NOUN
ftr-443	1153	64	notes	note	NOUN
ftr-443	1153	65	695	695	NUM
ftr-443	1153	66	(	(	PUNCT
ftr-443	1153	67	nov	nov	PROPN
ftr-443	1153	68	.	.	PROPN
ftr-443	1153	69	5	5	NUM
ftr-443	1153	70	,	,	PUNCT
ftr-443	1153	71	1990	1990	NUM
ftr-443	1153	72	)	)	PUNCT
ftr-443	1153	73	.	.	PUNCT
ftr-443	1154	1	this	this	DET
ftr-443	1154	2	author	author	NOUN
ftr-443	1154	3	suggested	suggest	VERB
ftr-443	1154	4	that	that	SCONJ
ftr-443	1154	5	the	the	DET
ftr-443	1154	6	proposed	propose	VERB
ftr-443	1154	7	regulations	regulation	NOUN
ftr-443	1154	8	,	,	PUNCT
ftr-443	1154	9	if	if	SCONJ
ftr-443	1154	10	finalized	finalize	VERB
ftr-443	1154	11	,	,	PUNCT
ftr-443	1154	12	would	would	AUX
ftr-443	1154	13	effectively	effectively	ADV
ftr-443	1154	14	cause	cause	VERB
ftr-443	1154	15	the	the	DET
ftr-443	1154	16	death	death	NOUN
ftr-443	1154	17	of	of	ADP
ftr-443	1154	18	subchapter	subchapter	NOUN
ftr-443	1154	19	s.	s.	PROPN
ftr-443	1154	20	see	see	VERB
ftr-443	1154	21	august	august	PROPN
ftr-443	1154	22	,	,	PUNCT
ftr-443	1154	23	supra	supra	PROPN
ftr-443	1154	24	note	note	NOUN
ftr-443	1154	25	182	182	NUM
ftr-443	1154	26	.	.	PUNCT
ftr-443	1154	27	186	186	NUM
ftr-443	1154	28	.	.	PUNCT
ftr-443	1155	1	see	see	VERB
ftr-443	1155	2	one	one	NUM
ftr-443	1155	3	class	class	NOUN
ftr-443	1155	4	of	of	ADP
ftr-443	1155	5	stock	stock	NOUN
ftr-443	1155	6	requirement	requirement	NOUN
ftr-443	1155	7	,	,	PUNCT
ftr-443	1155	8	56	56	NUM
ftr-443	1155	9	fed	feed	VERB
ftr-443	1155	10	.	.	PUNCT
ftr-443	1156	1	reg	reg	NOUN
ftr-443	1156	2	.	.	PUNCT
ftr-443	1157	1	38.392	38.392	NUM
ftr-443	1157	2	(	(	PUNCT
ftr-443	1157	3	1991	1991	NUM
ftr-443	1157	4	)	)	PUNCT
ftr-443	1157	5	,	,	PUNCT
ftr-443	1157	6	reprinted	reprint	VERB
ftr-443	1157	7	in	in	ADP
ftr-443	1157	8	ps-4	ps-4	NOUN
ftr-443	1157	9	-	-	PUNCT
ftr-443	1157	10	73	73	NUM
ftr-443	1157	11	,	,	PUNCT
ftr-443	1157	12	1991	1991	NUM
ftr-443	1157	13	-	-	SYM
ftr-443	1157	14	2	2	NUM
ftr-443	1157	15	c.b	c.b	PROPN
ftr-443	1157	16	.	.	PROPN
ftr-443	1157	17	1092	1092	NUM
ftr-443	1157	18	.	.	PUNCT
ftr-443	1158	1	187	187	NUM
ftr-443	1158	2	.	.	PUNCT
ftr-443	1158	3	see	see	VERB
ftr-443	1158	4	t.d	t.d	PROPN
ftr-443	1158	5	.	.	PROPN
ftr-443	1158	6	8419	8419	NUM
ftr-443	1158	7	,	,	PUNCT
ftr-443	1158	8	1992	1992	NUM
ftr-443	1158	9	-	-	SYM
ftr-443	1158	10	2	2	NUM
ftr-443	1158	11	c.b	c.b	PROPN
ftr-443	1158	12	.	.	PROPN
ftr-443	1158	13	217	217	NUM
ftr-443	1158	14	;	;	PUNCT
ftr-443	1158	15	robert	robert	PROPN
ftr-443	1158	16	cassanos	cassanos	PROPN
ftr-443	1158	17	,	,	PUNCT
ftr-443	1158	18	subchapter	subchapter	NOUN
ftr-443	1158	19	s	s	PART
ftr-443	1158	20	:	:	PUNCT
ftr-443	1158	21	living	live	VERB
ftr-443	1158	22	with	with	ADP
ftr-443	1158	23	the	the	DET
ftr-443	1158	24	new	new	ADJ
ftr-443	1158	25	one	one	NUM
ftr-443	1158	26	class	class	NOUN
ftr-443	1158	27	of	of	ADP
ftr-443	1158	28	stock	stock	NOUN
ftr-443	1158	29	regulations	regulation	NOUN
ftr-443	1158	30	and	and	CCONJ
ftr-443	1158	31	other	other	ADJ
ftr-443	1158	32	limitations	limitation	NOUN
ftr-443	1158	33	on	on	ADP
ftr-443	1158	34	stock	stock	NOUN
ftr-443	1158	35	ownership	ownership	NOUN
ftr-443	1158	36	,	,	PUNCT
ftr-443	1158	37	in	in	ADP
ftr-443	1158	38	new	new	PROPN
ftr-443	1158	39	york	york	PROPN
ftr-443	1158	40	university	university	PROPN
ftr-443	1158	41	-	-	PUNCT
ftr-443	1158	42	proceedings	proceeding	NOUN
ftr-443	1158	43	of	of	ADP
ftr-443	1158	44	the	the	DET
ftr-443	1158	45	fiftieth	fiftieth	PROPN
ftr-443	1158	46	institute	institute	PROPN
ftr-443	1158	47	on	on	ADP
ftr-443	1158	48	federal	federal	ADJ
ftr-443	1158	49	taxation	taxation	NOUN
ftr-443	1158	50	§	§	PROPN
ftr-443	1158	51	5	5	NUM
ftr-443	1158	52	-	-	SYM
ftr-443	1158	53	1	1	NUM
ftr-443	1158	54	(	(	PUNCT
ftr-443	1158	55	1992	1992	NUM
ftr-443	1158	56	)	)	PUNCT
ftr-443	1158	57	;	;	PUNCT
ftr-443	1158	58	scott	scott	PROPN
ftr-443	1158	59	n.	n.	PROPN
ftr-443	1158	60	carlson	carlson	PROPN
ftr-443	1158	61	,	,	PUNCT
ftr-443	1158	62	one	one	NUM
ftr-443	1158	63	class	class	NOUN
ftr-443	1158	64	graduates	graduate	NOUN
ftr-443	1158	65	:	:	PUNCT
ftr-443	1158	66	final	final	ADJ
ftr-443	1158	67	regulations	regulation	NOUN
ftr-443	1158	68	define	define	VERB
ftr-443	1158	69	one	one	NUM
ftr-443	1158	70	-	-	PUNCT
ftr-443	1158	71	class	class	NOUN
ftr-443	1158	72	-	-	PUNCT
ftr-443	1158	73	of	of	ADP
ftr-443	1158	74	-	-	PUNCT
ftr-443	1158	75	stock	stock	NOUN
ftr-443	1158	76	requirement	requirement	NOUN
ftr-443	1158	77	,	,	PUNCT
ftr-443	1158	78	4	4	NUM
ftr-443	1158	79	j.	j.	PROPN
ftr-443	1158	80	s	s	PROPN
ftr-443	1158	81	corp	corp	PROPN
ftr-443	1158	82	.	.	PROPN
ftr-443	1158	83	tax'n	tax'n	ADP
ftr-443	1158	84	241	241	NUM
ftr-443	1158	85	(	(	PUNCT
ftr-443	1158	86	1993	1993	NUM
ftr-443	1158	87	)	)	PUNCT
ftr-443	1158	88	.	.	PUNCT
ftr-443	1159	1	188	188	NUM
ftr-443	1159	2	.	.	PUNCT
ftr-443	1160	1	see	see	VERB
ftr-443	1160	2	s	s	PROPN
ftr-443	1160	3	corporation	corporation	NOUN
ftr-443	1160	4	reform	reform	PROPN
ftr-443	1160	5	act	act	NOUN
ftr-443	1160	6	of	of	ADP
ftr-443	1160	7	1993	1993	NUM
ftr-443	1160	8	,	,	PUNCT
ftr-443	1160	9	supra	supra	PROPN
ftr-443	1160	10	note	note	NOUN
ftr-443	1160	11	154	154	NUM
ftr-443	1160	12	.	.	PUNCT
ftr-443	1161	1	189	189	NUM
ftr-443	1161	2	.	.	PUNCT
ftr-443	1162	1	this	this	DET
ftr-443	1162	2	recommendation	recommendation	NOUN
ftr-443	1162	3	was	be	AUX
ftr-443	1162	4	made	make	VERB
ftr-443	1162	5	to	to	PART
ftr-443	1162	6	conform	conform	VERB
ftr-443	1162	7	to	to	ADP
ftr-443	1162	8	treaty	treaty	NOUN
ftr-443	1162	9	nondiscrimination	nondiscrimination	NOUN
ftr-443	1162	10	requirements	requirement	NOUN
ftr-443	1162	11	.	.	PUNCT
ftr-443	1163	1	see	see	VERB
ftr-443	1163	2	,	,	PUNCT
ftr-443	1163	3	e.g.	e.g.	ADV
ftr-443	1163	4	,	,	PUNCT
ftr-443	1163	5	convention	convention	NOUN
ftr-443	1163	6	between	between	ADP
ftr-443	1163	7	the	the	DET
ftr-443	1163	8	government	government	NOUN
ftr-443	1163	9	of	of	ADP
ftr-443	1163	10	the	the	DET
ftr-443	1163	11	united	united	PROPN
ftr-443	1163	12	states	states	PROPN
ftr-443	1163	13	of	of	ADP
ftr-443	1163	14	america	america	PROPN
ftr-443	1163	15	and	and	CCONJ
ftr-443	1163	16	the	the	DET
ftr-443	1163	17	united	united	ADJ
ftr-443	1163	18	kingdom	kingdom	NOUN
ftr-443	1163	19	of	of	ADP
ftr-443	1163	20	great	great	ADJ
ftr-443	1163	21	britain	britain	PROPN
ftr-443	1163	22	and	and	CCONJ
ftr-443	1163	23	northern	northern	PROPN
ftr-443	1163	24	ireland	ireland	PROPN
ftr-443	1163	25	for	for	ADP
ftr-443	1163	26	the	the	DET
ftr-443	1163	27	avoidance	avoidance	NOUN
ftr-443	1163	28	of	of	ADP
ftr-443	1163	29	double	double	ADJ
ftr-443	1163	30	taxation	taxation	NOUN
ftr-443	1163	31	and	and	CCONJ
ftr-443	1163	32	the	the	DET
ftr-443	1163	33	prevention	prevention	NOUN
ftr-443	1163	34	of	of	ADP
ftr-443	1163	35	fiscal	fiscal	ADJ
ftr-443	1163	36	evasion	evasion	NOUN
ftr-443	1163	37	with	with	ADP
ftr-443	1163	38	respect	respect	NOUN
ftr-443	1163	39	to	to	ADP
ftr-443	1163	40	taxes	taxis	NOUN
ftr-443	1163	41	on	on	ADP
ftr-443	1163	42	income	income	NOUN
ftr-443	1163	43	and	and	CCONJ
ftr-443	1163	44	capital	capital	NOUN
ftr-443	1163	45	gains	gain	NOUN
ftr-443	1163	46	,	,	PUNCT
ftr-443	1163	47	dec	dec	PROPN
ftr-443	1163	48	.	.	PROPN
ftr-443	1163	49	31	31	NUM
ftr-443	1163	50	,	,	PUNCT
ftr-443	1163	51	1975	1975	NUM
ftr-443	1163	52	,	,	PUNCT
ftr-443	1163	53	art	art	NOUN
ftr-443	1163	54	.	.	PUNCT
ftr-443	1164	1	24	24	NUM
ftr-443	1164	2	,	,	PUNCT
ftr-443	1164	3	5	5	NUM
ftr-443	1164	4	,	,	PUNCT
ftr-443	1164	5	31	31	NUM
ftr-443	1164	6	u.s.t	u.s.t	NOUN
ftr-443	1164	7	.	.	PUNCT
ftr-443	1164	8	5668	5668	NUM
ftr-443	1164	9	,	,	PUNCT
ftr-443	1164	10	5687	5687	NUM
ftr-443	1164	11	.	.	PUNCT
ftr-443	1165	1	1999	1999	NUM
ftr-443	1165	2	]	]	PUNCT
ftr-443	1165	3	florida	florida	PROPN
ftr-443	1165	4	tax	tax	PROPN
ftr-443	1165	5	review	review	NOUN
ftr-443	1165	6	8	8	NUM
ftr-443	1165	7	.	.	PUNCT
ftr-443	1165	8	extend	extend	VERB
ftr-443	1165	9	inadvertent	inadvertent	ADJ
ftr-443	1165	10	termination	termination	NOUN
ftr-443	1165	11	relief	relief	NOUN
ftr-443	1165	12	to	to	PART
ftr-443	1165	13	inadvertent	inadvertent	ADJ
ftr-443	1165	14	defective	defective	ADJ
ftr-443	1165	15	elections	election	NOUN
ftr-443	1165	16	;	;	PUNCT
ftr-443	1165	17	9	9	X
ftr-443	1165	18	.	.	X
ftr-443	1165	19	repeal	repeal	VERB
ftr-443	1165	20	the	the	DET
ftr-443	1165	21	entity	entity	NOUN
ftr-443	1165	22	-	-	PUNCT
ftr-443	1165	23	level	level	NOUN
ftr-443	1165	24	audit	audit	NOUN
ftr-443	1165	25	rules	rule	NOUN
ftr-443	1165	26	for	for	ADP
ftr-443	1165	27	s	s	NOUN
ftr-443	1165	28	corporations	corporation	NOUN
ftr-443	1165	29	;	;	PUNCT
ftr-443	1165	30	10	10	NUM
ftr-443	1165	31	.	.	X
ftr-443	1165	32	repeal	repeal	VERB
ftr-443	1165	33	the	the	DET
ftr-443	1165	34	rule	rule	NOUN
ftr-443	1165	35	making	make	VERB
ftr-443	1165	36	the	the	DET
ftr-443	1165	37	presence	presence	NOUN
ftr-443	1165	38	of	of	ADP
ftr-443	1165	39	excess	excess	ADJ
ftr-443	1165	40	passive	passive	ADJ
ftr-443	1165	41	investment	investment	NOUN
ftr-443	1165	42	income	income	NOUN
ftr-443	1165	43	for	for	ADP
ftr-443	1165	44	three	three	NUM
ftr-443	1165	45	years	year	NOUN
ftr-443	1165	46	a	a	DET
ftr-443	1165	47	termination	termination	NOUN
ftr-443	1165	48	event	event	NOUN
ftr-443	1165	49	;	;	PUNCT
ftr-443	1165	50	11	11	X
ftr-443	1165	51	.	.	PUNCT
ftr-443	1166	1	allow	allow	VERB
ftr-443	1166	2	s	s	PRON
ftr-443	1166	3	corporations	corporation	NOUN
ftr-443	1166	4	to	to	PART
ftr-443	1166	5	have	have	VERB
ftr-443	1166	6	subsidiaries	subsidiary	NOUN
ftr-443	1166	7	,	,	PUNCT
ftr-443	1166	8	including	include	VERB
ftr-443	1166	9	a	a	DET
ftr-443	1166	10	wholly	wholly	ADV
ftr-443	1166	11	owned	own	VERB
ftr-443	1166	12	subsidiaries	subsidiary	NOUN
ftr-443	1166	13	;	;	PUNCT
ftr-443	1166	14	12	12	NUM
ftr-443	1166	15	.	.	PUNCT
ftr-443	1167	1	conform	conform	VERB
ftr-443	1167	2	the	the	DET
ftr-443	1167	3	basis	basis	NOUN
ftr-443	1167	4	adjustments	adjustment	NOUN
ftr-443	1167	5	for	for	ADP
ftr-443	1167	6	losses	loss	NOUN
ftr-443	1167	7	and	and	CCONJ
ftr-443	1167	8	distributions	distribution	NOUN
ftr-443	1167	9	to	to	ADP
ftr-443	1167	10	the	the	DET
ftr-443	1167	11	partnership	partnership	NOUN
ftr-443	1167	12	rules	rule	NOUN
ftr-443	1167	13	of	of	ADP
ftr-443	1167	14	section	section	NOUN
ftr-443	1167	15	705	705	NUM
ftr-443	1167	16	;	;	PUNCT
ftr-443	1167	17	13	13	NUM
ftr-443	1167	18	.	.	PUNCT
ftr-443	1168	1	broaden	broaden	VERB
ftr-443	1168	2	the	the	DET
ftr-443	1168	3	application	application	NOUN
ftr-443	1168	4	of	of	ADP
ftr-443	1168	5	subchapter	subchapter	NOUN
ftr-443	1168	6	c	c	PROPN
ftr-443	1168	7	to	to	ADP
ftr-443	1168	8	s	s	NOUN
ftr-443	1168	9	corporations	corporation	NOUN
ftr-443	1168	10	;	;	PUNCT
ftr-443	1168	11	1	1	NUM
ftr-443	1168	12	90	90	NUM
ftr-443	1168	13	14	14	NUM
ftr-443	1168	14	.	.	PUNCT
ftr-443	1169	1	eliminate	eliminate	VERB
ftr-443	1169	2	pre-1983	pre-1983	NOUN
ftr-443	1169	3	earnings	earning	NOUN
ftr-443	1169	4	and	and	CCONJ
ftr-443	1169	5	profits	profit	NOUN
ftr-443	1169	6	from	from	ADP
ftr-443	1169	7	s	s	NOUN
ftr-443	1169	8	years	year	NOUN
ftr-443	1169	9	;	;	PUNCT
ftr-443	1169	10	15	15	NUM
ftr-443	1169	11	.	.	NOUN
ftr-443	1169	12	apply	apply	VERB
ftr-443	1169	13	the	the	DET
ftr-443	1169	14	c	c	PROPN
ftr-443	1169	15	corporation	corporation	NOUN
ftr-443	1169	16	rules	rule	NOUN
ftr-443	1169	17	for	for	ADP
ftr-443	1169	18	fringe	fringe	NOUN
ftr-443	1169	19	benefit	benefit	NOUN
ftr-443	1169	20	purposes	purpose	NOUN
ftr-443	1169	21	;	;	PUNCT
ftr-443	1169	22	9	9	NUM
ftr-443	1169	23	and	and	CCONJ
ftr-443	1169	24	16	16	NUM
ftr-443	1169	25	.	.	PUNCT
ftr-443	1170	1	permit	permit	VERB
ftr-443	1170	2	ordinary	ordinary	ADJ
ftr-443	1170	3	losses	loss	NOUN
ftr-443	1170	4	to	to	ADP
ftr-443	1170	5	the	the	DET
ftr-443	1170	6	extent	extent	NOUN
ftr-443	1170	7	of	of	ADP
ftr-443	1170	8	a	a	DET
ftr-443	1170	9	shareholder	shareholder	NOUN
ftr-443	1170	10	's	's	PART
ftr-443	1170	11	"	"	PUNCT
ftr-443	1170	12	ordinary	ordinary	ADJ
ftr-443	1170	13	income	income	NOUN
ftr-443	1170	14	basis	basis	NOUN
ftr-443	1170	15	"	"	PUNCT
ftr-443	1170	16	for	for	ADP
ftr-443	1170	17	distributions	distribution	NOUN
ftr-443	1170	18	in	in	ADP
ftr-443	1170	19	complete	complete	ADJ
ftr-443	1170	20	liquidation	liquidation	NOUN
ftr-443	1170	21	.	.	PUNCT
ftr-443	1171	1	after	after	SCONJ
ftr-443	1171	2	these	these	DET
ftr-443	1171	3	proposals	proposal	NOUN
ftr-443	1171	4	wound	wound	VERB
ftr-443	1171	5	their	their	PRON
ftr-443	1171	6	way	way	NOUN
ftr-443	1171	7	through	through	ADP
ftr-443	1171	8	congressional	congressional	ADJ
ftr-443	1171	9	processes	process	NOUN
ftr-443	1171	10	for	for	ADP
ftr-443	1171	11	several	several	ADJ
ftr-443	1171	12	years	year	NOUN
ftr-443	1171	13	,	,	PUNCT
ftr-443	1171	14	congress	congress	PROPN
ftr-443	1171	15	,	,	PUNCT
ftr-443	1171	16	in	in	ADP
ftr-443	1171	17	1996	1996	NUM
ftr-443	1171	18	,	,	PUNCT
ftr-443	1171	19	enacted	enact	VERB
ftr-443	1171	20	several	several	ADJ
ftr-443	1171	21	subchapter	subchapter	NOUN
ftr-443	1171	22	s	s	PART
ftr-443	1171	23	reforms	reform	NOUN
ftr-443	1171	24	,	,	PUNCT
ftr-443	1171	25	which	which	PRON
ftr-443	1171	26	were	be	AUX
ftr-443	1171	27	significantly	significantly	ADV
ftr-443	1171	28	watered	water	VERB
ftr-443	1171	29	down	down	ADP
ftr-443	1171	30	from	from	ADP
ftr-443	1171	31	those	those	PRON
ftr-443	1171	32	of	of	ADP
ftr-443	1171	33	pryor	pryor	PROPN
ftr-443	1171	34	-	-	PUNCT
ftr-443	1171	35	danforth	danforth	PROPN
ftr-443	1171	36	bill	bill	NOUN
ftr-443	1171	37	.	.	PUNCT
ftr-443	1172	1	192	192	NUM
ftr-443	1172	2	190	190	NUM
ftr-443	1172	3	.	.	PUNCT
ftr-443	1173	1	in	in	ADP
ftr-443	1173	2	gen	gen	PROPN
ftr-443	1173	3	.	.	PROPN
ftr-443	1173	4	couns	couns	PROPN
ftr-443	1173	5	.	.	PUNCT
ftr-443	1174	1	mem	mem	PROPN
ftr-443	1174	2	.	.	X
ftr-443	1175	1	39,768	39,768	NUM
ftr-443	1175	2	(	(	PUNCT
ftr-443	1175	3	dec	dec	PROPN
ftr-443	1175	4	.	.	PROPN
ftr-443	1175	5	1	1	NUM
ftr-443	1175	6	,	,	PUNCT
ftr-443	1175	7	1988	1988	NUM
ftr-443	1175	8	)	)	PUNCT
ftr-443	1176	1	,	,	PUNCT
ftr-443	1176	2	the	the	DET
ftr-443	1176	3	service	service	NOUN
ftr-443	1176	4	acknowledged	acknowledge	VERB
ftr-443	1176	5	that	that	SCONJ
ftr-443	1176	6	§	§	PROPN
ftr-443	1176	7	1371(a)(2)-which	1371(a)(2)-which	NUM
ftr-443	1176	8	until	until	SCONJ
ftr-443	1176	9	its	its	PRON
ftr-443	1176	10	repeal	repeal	NOUN
ftr-443	1176	11	in	in	ADP
ftr-443	1176	12	1996	1996	NUM
ftr-443	1176	13	required	require	VERB
ftr-443	1176	14	that	that	SCONJ
ftr-443	1176	15	an	an	DET
ftr-443	1176	16	s	s	NOUN
ftr-443	1176	17	corporation	corporation	NOUN
ftr-443	1176	18	,	,	PUNCT
ftr-443	1176	19	as	as	ADP
ftr-443	1176	20	shareholder	shareholder	NOUN
ftr-443	1176	21	of	of	ADP
ftr-443	1176	22	another	another	DET
ftr-443	1176	23	corporation	corporation	NOUN
ftr-443	1176	24	,	,	PUNCT
ftr-443	1176	25	"	"	PUNCT
ftr-443	1176	26	be	be	AUX
ftr-443	1176	27	treated	treat	VERB
ftr-443	1176	28	as	as	ADP
ftr-443	1176	29	an	an	DET
ftr-443	1176	30	individual"-did	individual"-did	PROPN
ftr-443	1176	31	not	not	PART
ftr-443	1176	32	prevent	prevent	VERB
ftr-443	1176	33	an	an	DET
ftr-443	1176	34	s	s	NOUN
ftr-443	1176	35	corporation	corporation	NOUN
ftr-443	1176	36	from	from	ADP
ftr-443	1176	37	being	be	AUX
ftr-443	1176	38	a	a	DET
ftr-443	1176	39	party	party	NOUN
ftr-443	1176	40	to	to	ADP
ftr-443	1176	41	a	a	DET
ftr-443	1176	42	tax	tax	NOUN
ftr-443	1176	43	-	-	PUNCT
ftr-443	1176	44	free	free	ADJ
ftr-443	1176	45	reorganization	reorganization	NOUN
ftr-443	1176	46	or	or	CCONJ
ftr-443	1176	47	division	division	NOUN
ftr-443	1176	48	.	.	PUNCT
ftr-443	1177	1	however	however	ADV
ftr-443	1177	2	,	,	PUNCT
ftr-443	1177	3	in	in	ADP
ftr-443	1177	4	priv	priv	NOUN
ftr-443	1177	5	.	.	PUNCT
ftr-443	1178	1	ltr	ltr	PROPN
ftr-443	1178	2	.	.	PUNCT
ftr-443	1178	3	rul	rul	PROPN
ftr-443	1178	4	.	.	PUNCT
ftr-443	1179	1	88	88	NUM
ftr-443	1179	2	-	-	SYM
ftr-443	1179	3	18	18	NUM
ftr-443	1179	4	-	-	PUNCT
ftr-443	1179	5	049	049	NUM
ftr-443	1179	6	(	(	PUNCT
ftr-443	1179	7	feb	feb	PROPN
ftr-443	1179	8	.	.	PROPN
ftr-443	1179	9	10	10	NUM
ftr-443	1179	10	,	,	PUNCT
ftr-443	1179	11	1988	1988	NUM
ftr-443	1179	12	)	)	PUNCT
ftr-443	1179	13	,	,	PUNCT
ftr-443	1179	14	the	the	DET
ftr-443	1179	15	service	service	NOUN
ftr-443	1179	16	ruled	rule	VERB
ftr-443	1179	17	that	that	SCONJ
ftr-443	1179	18	an	an	DET
ftr-443	1179	19	s	s	NOUN
ftr-443	1179	20	corporation	corporation	NOUN
ftr-443	1179	21	could	could	AUX
ftr-443	1179	22	not	not	PART
ftr-443	1179	23	make	make	VERB
ftr-443	1179	24	a	a	DET
ftr-443	1179	25	qualified	qualified	ADJ
ftr-443	1179	26	purchase	purchase	NOUN
ftr-443	1179	27	of	of	ADP
ftr-443	1179	28	a	a	DET
ftr-443	1179	29	target	target	NOUN
ftr-443	1179	30	corporation	corporation	NOUN
ftr-443	1179	31	's	's	PART
ftr-443	1179	32	stock	stock	NOUN
ftr-443	1179	33	under	under	ADP
ftr-443	1179	34	§	§	PROPN
ftr-443	1179	35	338	338	NUM
ftr-443	1179	36	or	or	CCONJ
ftr-443	1179	37	liquidate	liquidate	VERB
ftr-443	1179	38	a	a	DET
ftr-443	1179	39	controlled	control	VERB
ftr-443	1179	40	subsidiary	subsidiary	NOUN
ftr-443	1179	41	under	under	ADP
ftr-443	1179	42	§	§	PROPN
ftr-443	1179	43	§	§	PROPN
ftr-443	1179	44	337	337	NUM
ftr-443	1179	45	and	and	CCONJ
ftr-443	1179	46	332	332	NUM
ftr-443	1179	47	.	.	PUNCT
ftr-443	1180	1	the	the	DET
ftr-443	1180	2	service	service	NOUN
ftr-443	1180	3	later	later	ADV
ftr-443	1180	4	changed	change	VERB
ftr-443	1180	5	its	its	PRON
ftr-443	1180	6	position	position	NOUN
ftr-443	1180	7	,	,	PUNCT
ftr-443	1180	8	allowing	allow	VERB
ftr-443	1180	9	a	a	DET
ftr-443	1180	10	qualified	qualified	ADJ
ftr-443	1180	11	stock	stock	NOUN
ftr-443	1180	12	purchase	purchase	NOUN
ftr-443	1180	13	by	by	ADP
ftr-443	1180	14	an	an	DET
ftr-443	1180	15	s	s	NOUN
ftr-443	1180	16	corporation	corporation	NOUN
ftr-443	1180	17	if	if	SCONJ
ftr-443	1180	18	the	the	DET
ftr-443	1180	19	controlled	control	VERB
ftr-443	1180	20	subsidiary	subsidiary	NOUN
ftr-443	1180	21	was	be	AUX
ftr-443	1180	22	immediately	immediately	ADV
ftr-443	1180	23	liquidated	liquidate	VERB
ftr-443	1180	24	.	.	PUNCT
ftr-443	1181	1	tech	tech	NOUN
ftr-443	1181	2	.	.	PUNCT
ftr-443	1182	1	adv	adv	PROPN
ftr-443	1182	2	.	.	PUNCT
ftr-443	1182	3	mem	mem	PROPN
ftr-443	1182	4	.	.	PUNCT
ftr-443	1182	5	92	92	NUM
ftr-443	1182	6	-	-	SYM
ftr-443	1182	7	45004	45004	NUM
ftr-443	1182	8	(	(	PUNCT
ftr-443	1182	9	july	july	PROPN
ftr-443	1182	10	28	28	NUM
ftr-443	1182	11	,	,	PUNCT
ftr-443	1182	12	1992	1992	NUM
ftr-443	1182	13	)	)	PUNCT
ftr-443	1182	14	.	.	PUNCT
ftr-443	1183	1	see	see	VERB
ftr-443	1183	2	generally	generally	ADV
ftr-443	1183	3	jerald	jerald	PROPN
ftr-443	1183	4	d.	d.	PROPN
ftr-443	1183	5	august	august	PROPN
ftr-443	1183	6	,	,	PUNCT
ftr-443	1183	7	taxable	taxable	ADJ
ftr-443	1183	8	stock	stock	NOUN
ftr-443	1183	9	acquisitions	acquisition	NOUN
ftr-443	1183	10	by	by	ADP
ftr-443	1183	11	s	s	NOUN
ftr-443	1183	12	corporations	corporation	NOUN
ftr-443	1183	13	:	:	PUNCT
ftr-443	1183	14	technical	technical	ADJ
ftr-443	1183	15	advice	advice	NOUN
ftr-443	1183	16	memorandum	memorandum	NOUN
ftr-443	1183	17	9245004	9245004	NUM
ftr-443	1183	18	permits	permit	VERB
ftr-443	1183	19	use	use	NOUN
ftr-443	1183	20	of	of	ADP
ftr-443	1183	21	sections	section	NOUN
ftr-443	1183	22	332	332	NUM
ftr-443	1183	23	and	and	CCONJ
ftr-443	1183	24	338	338	NUM
ftr-443	1183	25	,	,	PUNCT
ftr-443	1183	26	5	5	NUM
ftr-443	1183	27	j.	j.	PROPN
ftr-443	1183	28	s	s	PROPN
ftr-443	1183	29	corp	corp	PROPN
ftr-443	1183	30	.	.	PROPN
ftr-443	1183	31	tax'n	tax'n	ADV
ftr-443	1183	32	203	203	NUM
ftr-443	1183	33	(	(	PUNCT
ftr-443	1183	34	1994	1994	NUM
ftr-443	1183	35	)	)	PUNCT
ftr-443	1183	36	;	;	PUNCT
ftr-443	1183	37	seth	seth	PROPN
ftr-443	1183	38	m.	m.	PROPN
ftr-443	1183	39	zachary	zachary	PROPN
ftr-443	1183	40	&	&	CCONJ
ftr-443	1183	41	philip	philip	PROPN
ftr-443	1183	42	r.	r.	PROPN
ftr-443	1183	43	weingold	weingold	PROPN
ftr-443	1183	44	,	,	PUNCT
ftr-443	1183	45	stock	stock	NOUN
ftr-443	1183	46	acquisitions	acquisition	NOUN
ftr-443	1183	47	and	and	CCONJ
ftr-443	1183	48	liquidations	liquidation	NOUN
ftr-443	1183	49	by	by	ADP
ftr-443	1183	50	s	s	NOUN
ftr-443	1183	51	corporations	corporation	NOUN
ftr-443	1183	52	:	:	PUNCT
ftr-443	1183	53	availability	availability	NOUN
ftr-443	1183	54	of	of	ADP
ftr-443	1183	55	benefits	benefit	NOUN
ftr-443	1183	56	afforded	afford	VERB
ftr-443	1183	57	by	by	ADP
ftr-443	1183	58	sections	section	NOUN
ftr-443	1183	59	332	332	NUM
ftr-443	1183	60	and	and	CCONJ
ftr-443	1183	61	338	338	NUM
ftr-443	1183	62	,	,	PUNCT
ftr-443	1183	63	20	20	NUM
ftr-443	1183	64	j.	j.	PROPN
ftr-443	1183	65	corp	corp	PROPN
ftr-443	1183	66	.	.	PROPN
ftr-443	1184	1	tax'n	tax'n	ADP
ftr-443	1184	2	211	211	NUM
ftr-443	1184	3	(	(	PUNCT
ftr-443	1184	4	1993	1993	NUM
ftr-443	1184	5	)	)	PUNCT
ftr-443	1184	6	.	.	PUNCT
ftr-443	1185	1	see	see	VERB
ftr-443	1185	2	also	also	ADV
ftr-443	1185	3	jerald	jerald	PROPN
ftr-443	1185	4	d.	d.	PROPN
ftr-443	1185	5	august	august	PROPN
ftr-443	1185	6	,	,	PUNCT
ftr-443	1185	7	integration	integration	NOUN
ftr-443	1185	8	of	of	ADP
ftr-443	1185	9	subchapter	subchapter	NOUN
ftr-443	1185	10	c	c	NOUN
ftr-443	1185	11	with	with	ADP
ftr-443	1185	12	subchapter	subchapter	NOUN
ftr-443	1185	13	s	s	NOUN
ftr-443	1185	14	after	after	ADP
ftr-443	1185	15	the	the	DET
ftr-443	1185	16	subchapter	subchapter	NOUN
ftr-443	1185	17	s	s	PART
ftr-443	1185	18	revision	revision	NOUN
ftr-443	1185	19	act	act	NOUN
ftr-443	1185	20	,	,	PUNCT
ftr-443	1185	21	37	37	NUM
ftr-443	1185	22	fla	fla	NOUN
ftr-443	1185	23	.	.	PUNCT
ftr-443	1186	1	l.	l.	PROPN
ftr-443	1186	2	rev	rev	PROPN
ftr-443	1186	3	.	.	PROPN
ftr-443	1186	4	491	491	NUM
ftr-443	1186	5	(	(	PUNCT
ftr-443	1186	6	1985	1985	NUM
ftr-443	1186	7	)	)	PUNCT
ftr-443	1186	8	.	.	PUNCT
ftr-443	1187	1	191	191	X
ftr-443	1187	2	.	.	PUNCT
ftr-443	1188	1	this	this	DET
ftr-443	1188	2	proposal	proposal	NOUN
ftr-443	1188	3	would	would	AUX
ftr-443	1188	4	have	have	AUX
ftr-443	1188	5	repealed	repeal	VERB
ftr-443	1188	6	§	§	PROPN
ftr-443	1188	7	1372	1372	NUM
ftr-443	1188	8	,	,	PUNCT
ftr-443	1188	9	which	which	PRON
ftr-443	1188	10	requires	require	VERB
ftr-443	1188	11	s	s	VERB
ftr-443	1188	12	corporation	corporation	NOUN
ftr-443	1188	13	's	's	PART
ftr-443	1188	14	shareholders	shareholder	NOUN
ftr-443	1188	15	who	who	PRON
ftr-443	1188	16	are	be	AUX
ftr-443	1188	17	more	more	ADJ
ftr-443	1188	18	than	than	ADP
ftr-443	1188	19	2	2	NUM
ftr-443	1188	20	%	%	NOUN
ftr-443	1188	21	shareholders	shareholder	NOUN
ftr-443	1188	22	to	to	PART
ftr-443	1188	23	be	be	AUX
ftr-443	1188	24	treated	treat	VERB
ftr-443	1188	25	as	as	ADP
ftr-443	1188	26	partners	partner	NOUN
ftr-443	1188	27	in	in	ADP
ftr-443	1188	28	a	a	DET
ftr-443	1188	29	partnership	partnership	NOUN
ftr-443	1188	30	for	for	ADP
ftr-443	1188	31	employee	employee	NOUN
ftr-443	1188	32	fringe	fringe	NOUN
ftr-443	1188	33	benefit	benefit	NOUN
ftr-443	1188	34	purposes	purpose	NOUN
ftr-443	1188	35	.	.	PUNCT
ftr-443	1189	1	for	for	ADP
ftr-443	1189	2	the	the	DET
ftr-443	1189	3	consequences	consequence	NOUN
ftr-443	1189	4	of	of	ADP
ftr-443	1189	5	such	such	ADJ
ftr-443	1189	6	treatment	treatment	NOUN
ftr-443	1189	7	,	,	PUNCT
ftr-443	1189	8	see	see	VERB
ftr-443	1189	9	irc	irc	PROPN
ftr-443	1189	10	§	§	PROPN
ftr-443	1189	11	162(l)(5	162(l)(5	NUM
ftr-443	1189	12	)	)	PUNCT
ftr-443	1189	13	.	.	PUNCT
ftr-443	1190	1	192	192	NUM
ftr-443	1190	2	.	.	PUNCT
ftr-443	1191	1	pub	pub	NOUN
ftr-443	1191	2	.	.	PUNCT
ftr-443	1192	1	l.	l.	PROPN
ftr-443	1192	2	no	no	INTJ
ftr-443	1192	3	.	.	PROPN
ftr-443	1193	1	104	104	NUM
ftr-443	1193	2	-	-	SYM
ftr-443	1193	3	188	188	NUM
ftr-443	1193	4	,	,	PUNCT
ftr-443	1193	5	110	110	NUM
ftr-443	1193	6	stat	stat	NOUN
ftr-443	1193	7	.	.	PUNCT
ftr-443	1194	1	1755	1755	NUM
ftr-443	1194	2	(	(	PUNCT
ftr-443	1194	3	1996	1996	NUM
ftr-443	1194	4	)	)	PUNCT
ftr-443	1194	5	.	.	PUNCT
ftr-443	1195	1	see	see	VERB
ftr-443	1195	2	jerald	jerald	PROPN
ftr-443	1195	3	david	david	PROPN
ftr-443	1195	4	august	august	PROPN
ftr-443	1195	5	,	,	PUNCT
ftr-443	1195	6	s	s	PART
ftr-443	1195	7	corporations	corporation	NOUN
ftr-443	1195	8	:	:	PUNCT
ftr-443	1195	9	new	new	ADJ
ftr-443	1195	10	law	law	NOUN
ftr-443	1195	11	liberalizes	liberalize	VERB
ftr-443	1195	12	s	s	PART
ftr-443	1195	13	corporation	corporation	NOUN
ftr-443	1195	14	provisions	provision	NOUN
ftr-443	1195	15	,	,	PUNCT
ftr-443	1195	16	14	14	NUM
ftr-443	1195	17	j.	j.	PROPN
ftr-443	1195	18	partnership	partnership	PROPN
ftr-443	1195	19	tax'n	tax'n	ADP
ftr-443	1195	20	50	50	NUM
ftr-443	1195	21	(	(	PUNCT
ftr-443	1195	22	1997	1997	NUM
ftr-443	1195	23	)	)	PUNCT
ftr-443	1195	24	;	;	PUNCT
ftr-443	1195	25	steven	steven	PROPN
ftr-443	1195	26	r.	r.	PROPN
ftr-443	1195	27	looney	looney	PROPN
ftr-443	1195	28	,	,	PUNCT
ftr-443	1195	29	miscellaneous	miscellaneous	ADJ
ftr-443	1195	30	s	s	PART
ftr-443	1195	31	corporation	corporation	NOUN
ftr-443	1195	32	changes	change	NOUN
ftr-443	1195	33	made	make	VERB
ftr-443	1195	34	by	by	ADP
ftr-443	1195	35	the	the	DET
ftr-443	1195	36	small	small	ADJ
ftr-443	1195	37	business	business	NOUN
ftr-443	1195	38	job	job	NOUN
ftr-443	1195	39	protection	protection	NOUN
ftr-443	1195	40	act	act	NOUN
ftr-443	1195	41	of	of	ADP
ftr-443	1195	42	1996	1996	NUM
ftr-443	1195	43	,	,	PUNCT
ftr-443	1195	44	8	8	NUM
ftr-443	1195	45	j.	j.	PROPN
ftr-443	1195	46	corp	corp	PROPN
ftr-443	1195	47	.	.	PROPN
ftr-443	1195	48	tax'n	tax'n	ADP
ftr-443	1195	49	346	346	NUM
ftr-443	1195	50	(	(	PUNCT
ftr-443	1195	51	1997	1997	NUM
ftr-443	1195	52	)	)	PUNCT
ftr-443	1195	53	;	;	PUNCT
ftr-443	1195	54	joel	joel	PROPN
ftr-443	1195	55	h.	h.	PROPN
ftr-443	1195	56	sharp	sharp	PROPN
ftr-443	1195	57	,	,	PUNCT
ftr-443	1195	58	jr	jr	PROPN
ftr-443	1195	59	.	.	PROPN
ftr-443	1195	60	&	&	CCONJ
ftr-443	1195	61	hewitt	hewitt	PROPN
ftr-443	1195	62	b.	b.	PROPN
ftr-443	1195	63	shaw	shaw	PROPN
ftr-443	1195	64	,	,	PUNCT
ftr-443	1195	65	jr	jr	PROPN
ftr-443	1195	66	.	.	PROPN
ftr-443	1195	67	,	,	PUNCT
ftr-443	1195	68	subchapter	subchapter	NOUN
ftr-443	1195	69	s	s	PART
ftr-443	1195	70	reform	reform	NOUN
ftr-443	1195	71	:	:	PUNCT
ftr-443	1195	72	the	the	DET
ftr-443	1195	73	small	small	ADJ
ftr-443	1195	74	business	business	NOUN
ftr-443	1195	75	job	job	NOUN
ftr-443	1195	76	protection	protection	NOUN
ftr-443	1195	77	act	act	NOUN
ftr-443	1195	78	of	of	ADP
ftr-443	1195	79	1996	1996	NUM
ftr-443	1195	80	,	,	PUNCT
ftr-443	1195	81	24	24	NUM
ftr-443	1195	82	j.	j.	PROPN
ftr-443	1195	83	corp	corp	PROPN
ftr-443	1195	84	.	.	PROPN
ftr-443	1196	1	tax'n	tax'n	ADP
ftr-443	1196	2	3	3	NUM
ftr-443	1196	3	(	(	PUNCT
ftr-443	1196	4	1997	1997	NUM
ftr-443	1196	5	)	)	PUNCT
ftr-443	1196	6	.	.	PUNCT
ftr-443	1197	1	[	[	X
ftr-443	1197	2	vol	vol	NOUN
ftr-443	1197	3	.	.	PUNCT
ftr-443	1197	4	4:3	4:3	NUM
ftr-443	1197	5	benefits	benefit	NOUN
ftr-443	1197	6	and	and	CCONJ
ftr-443	1197	7	burdens	burden	NOUN
ftr-443	1197	8	of	of	ADP
ftr-443	1197	9	subchapter	subchapter	NOUN
ftr-443	1197	10	s	s	VERB
ftr-443	1197	11	the	the	DET
ftr-443	1197	12	most	most	ADV
ftr-443	1197	13	beneficial	beneficial	ADJ
ftr-443	1197	14	of	of	ADP
ftr-443	1197	15	the	the	DET
ftr-443	1197	16	reforms	reform	NOUN
ftr-443	1197	17	is	be	AUX
ftr-443	1197	18	new	new	ADJ
ftr-443	1197	19	section	section	NOUN
ftr-443	1197	20	1361(b)(3	1361(b)(3	NUM
ftr-443	1197	21	)	)	PUNCT
ftr-443	1197	22	,	,	PUNCT
ftr-443	1197	23	which	which	PRON
ftr-443	1197	24	allows	allow	VERB
ftr-443	1197	25	an	an	DET
ftr-443	1197	26	s	s	NOUN
ftr-443	1197	27	corporation	corporation	NOUN
ftr-443	1197	28	to	to	PART
ftr-443	1197	29	elect	elect	VERB
ftr-443	1197	30	to	to	PART
ftr-443	1197	31	treat	treat	VERB
ftr-443	1197	32	a	a	DET
ftr-443	1197	33	wholly	wholly	ADV
ftr-443	1197	34	-	-	PUNCT
ftr-443	1197	35	owned	own	VERB
ftr-443	1197	36	subsidiary	subsidiary	NOUN
ftr-443	1197	37	as	as	ADP
ftr-443	1197	38	a	a	DET
ftr-443	1197	39	division	division	NOUN
ftr-443	1197	40	or	or	CCONJ
ftr-443	1197	41	branch	branch	NOUN
ftr-443	1197	42	for	for	ADP
ftr-443	1197	43	federal	federal	ADJ
ftr-443	1197	44	tax	tax	NOUN
ftr-443	1197	45	purposes	purpose	NOUN
ftr-443	1197	46	.	.	PUNCT
ftr-443	1198	1	193	193	NUM
ftr-443	1198	2	a	a	DET
ftr-443	1198	3	"	"	PUNCT
ftr-443	1198	4	qualified	qualified	ADJ
ftr-443	1198	5	subchapter	subchapter	NOUN
ftr-443	1198	6	s	s	PART
ftr-443	1198	7	subsidiary	subsidiary	NOUN
ftr-443	1198	8	"	"	PUNCT
ftr-443	1198	9	(	(	PUNCT
ftr-443	1198	10	qsub	qsub	X
ftr-443	1198	11	)	)	PUNCT
ftr-443	1198	12	is	be	AUX
ftr-443	1198	13	thus	thus	ADV
ftr-443	1198	14	included	include	VERB
ftr-443	1198	15	in	in	ADP
ftr-443	1198	16	the	the	DET
ftr-443	1198	17	s	s	PART
ftr-443	1198	18	corporation	corporation	NOUN
ftr-443	1198	19	's	's	PART
ftr-443	1198	20	conduit	conduit	NOUN
ftr-443	1198	21	system	system	NOUN
ftr-443	1198	22	,	,	PUNCT
ftr-443	1198	23	even	even	ADV
ftr-443	1198	24	though	though	SCONJ
ftr-443	1198	25	it	it	PRON
ftr-443	1198	26	is	be	AUX
ftr-443	1198	27	a	a	DET
ftr-443	1198	28	separate	separate	ADJ
ftr-443	1198	29	legal	legal	ADJ
ftr-443	1198	30	entity	entity	NOUN
ftr-443	1198	31	under	under	ADP
ftr-443	1198	32	state	state	NOUN
ftr-443	1198	33	law	law	NOUN
ftr-443	1198	34	.	.	PUNCT
ftr-443	1199	1	an	an	DET
ftr-443	1199	2	s	s	NOUN
ftr-443	1199	3	corporation	corporation	NOUN
ftr-443	1199	4	can	can	AUX
ftr-443	1199	5	also	also	ADV
ftr-443	1199	6	hold	hold	VERB
ftr-443	1199	7	an	an	DET
ftr-443	1199	8	uninterrupted	uninterrupted	ADJ
ftr-443	1199	9	chain	chain	NOUN
ftr-443	1199	10	of	of	ADP
ftr-443	1199	11	qsubs	qsub	NOUN
ftr-443	1199	12	.	.	PUNCT
ftr-443	1199	13	'	'	PUNCT
ftr-443	1200	1	the	the	DET
ftr-443	1200	2	qsub	qsub	PROPN
ftr-443	1200	3	thus	thus	ADV
ftr-443	1200	4	resembles	resemble	VERB
ftr-443	1200	5	the	the	DET
ftr-443	1200	6	tax	tax	NOUN
ftr-443	1200	7	nothing	nothing	PRON
ftr-443	1200	8	construct	construct	NOUN
ftr-443	1200	9	of	of	ADP
ftr-443	1200	10	the	the	DET
ftr-443	1200	11	ctb	ctb	NOUN
ftr-443	1200	12	regulations	regulation	NOUN
ftr-443	1200	13	for	for	ADP
ftr-443	1200	14	conduit	conduit	NOUN
ftr-443	1200	15	entities	entity	NOUN
ftr-443	1200	16	with	with	ADP
ftr-443	1200	17	only	only	ADV
ftr-443	1200	18	one	one	NUM
ftr-443	1200	19	owner	owner	NOUN
ftr-443	1200	20	.	.	PUNCT
ftr-443	1201	1	a	a	DET
ftr-443	1201	2	related	related	ADJ
ftr-443	1201	3	provision	provision	NOUN
ftr-443	1201	4	of	of	ADP
ftr-443	1201	5	the	the	DET
ftr-443	1201	6	1996	1996	NUM
ftr-443	1201	7	legislation	legislation	NOUN
ftr-443	1201	8	repealed	repeal	VERB
ftr-443	1201	9	the	the	DET
ftr-443	1201	10	rule	rule	NOUN
ftr-443	1201	11	that	that	PRON
ftr-443	1201	12	formerly	formerly	ADV
ftr-443	1201	13	barred	bar	VERB
ftr-443	1201	14	an	an	DET
ftr-443	1201	15	s	s	NOUN
ftr-443	1201	16	corporation	corporation	NOUN
ftr-443	1201	17	from	from	ADP
ftr-443	1201	18	owning	own	VERB
ftr-443	1201	19	80	80	NUM
ftr-443	1201	20	%	%	NOUN
ftr-443	1201	21	or	or	CCONJ
ftr-443	1201	22	more	more	ADJ
ftr-443	1201	23	of	of	ADP
ftr-443	1201	24	the	the	DET
ftr-443	1201	25	voting	voting	NOUN
ftr-443	1201	26	and	and	CCONJ
ftr-443	1201	27	value	value	NOUN
ftr-443	1201	28	of	of	ADP
ftr-443	1201	29	an	an	DET
ftr-443	1201	30	issued	issue	VERB
ftr-443	1201	31	stock	stock	NOUN
ftr-443	1201	32	of	of	ADP
ftr-443	1201	33	a	a	DET
ftr-443	1201	34	c	c	NOUN
ftr-443	1201	35	corporation	corporation	NOUN
ftr-443	1201	36	.	.	PUNCT
ftr-443	1202	1	95	95	NUM
ftr-443	1203	1	the	the	DET
ftr-443	1203	2	qsub	qsub	PROPN
ftr-443	1203	3	rule	rule	NOUN
ftr-443	1203	4	allows	allow	VERB
ftr-443	1203	5	a	a	DET
ftr-443	1203	6	segregation	segregation	NOUN
ftr-443	1203	7	of	of	ADP
ftr-443	1203	8	assets	asset	NOUN
ftr-443	1203	9	and	and	CCONJ
ftr-443	1203	10	liabilities	liability	NOUN
ftr-443	1203	11	among	among	ADP
ftr-443	1203	12	various	various	ADJ
ftr-443	1203	13	lines	line	NOUN
ftr-443	1203	14	of	of	ADP
ftr-443	1203	15	business	business	NOUN
ftr-443	1203	16	and	and	CCONJ
ftr-443	1203	17	reduces	reduce	VERB
ftr-443	1203	18	the	the	DET
ftr-443	1203	19	administrative	administrative	ADJ
ftr-443	1203	20	complexities	complexity	NOUN
ftr-443	1203	21	and	and	CCONJ
ftr-443	1203	22	inefficiencies	inefficiency	NOUN
ftr-443	1203	23	of	of	ADP
ftr-443	1203	24	multiple	multiple	ADJ
ftr-443	1203	25	brother	brother	NOUN
ftr-443	1203	26	-	-	PUNCT
ftr-443	1203	27	sister	sister	NOUN
ftr-443	1203	28	s	s	PART
ftr-443	1203	29	affiliates	affiliate	NOUN
ftr-443	1203	30	.	.	PUNCT
ftr-443	1204	1	since	since	SCONJ
ftr-443	1204	2	an	an	DET
ftr-443	1204	3	s	s	NOUN
ftr-443	1204	4	corporation	corporation	NOUN
ftr-443	1204	5	can	can	AUX
ftr-443	1204	6	now	now	ADV
ftr-443	1204	7	own	own	VERB
ftr-443	1204	8	any	any	DET
ftr-443	1204	9	percentage	percentage	NOUN
ftr-443	1204	10	of	of	ADP
ftr-443	1204	11	stock	stock	NOUN
ftr-443	1204	12	of	of	ADP
ftr-443	1204	13	a	a	DET
ftr-443	1204	14	c	c	NOUN
ftr-443	1204	15	corporation	corporation	NOUN
ftr-443	1204	16	,	,	PUNCT
ftr-443	1204	17	or	or	CCONJ
ftr-443	1204	18	immediately	immediately	ADV
ftr-443	1204	19	elect	elect	VERB
ftr-443	1204	20	qsub	qsub	PROPN
ftr-443	1204	21	status	status	NOUN
ftr-443	1204	22	where	where	SCONJ
ftr-443	1204	23	it	it	PRON
ftr-443	1204	24	acquires	acquire	VERB
ftr-443	1204	25	all	all	PRON
ftr-443	1204	26	of	of	ADP
ftr-443	1204	27	the	the	DET
ftr-443	1204	28	stock	stock	NOUN
ftr-443	1204	29	of	of	ADP
ftr-443	1204	30	a	a	DET
ftr-443	1204	31	target	target	NOUN
ftr-443	1204	32	,	,	PUNCT
ftr-443	1204	33	it	it	PRON
ftr-443	1204	34	will	will	AUX
ftr-443	1204	35	no	no	ADV
ftr-443	1204	36	longer	long	ADV
ftr-443	1204	37	be	be	AUX
ftr-443	1204	38	required	require	VERB
ftr-443	1204	39	to	to	PART
ftr-443	1204	40	immediately	immediately	ADV
ftr-443	1204	41	liquidate	liquidate	VERB
ftr-443	1204	42	an	an	DET
ftr-443	1204	43	acquired	acquire	VERB
ftr-443	1204	44	corporation	corporation	NOUN
ftr-443	1204	45	to	to	PART
ftr-443	1204	46	preserve	preserve	VERB
ftr-443	1204	47	s	s	PART
ftr-443	1204	48	status	status	NOUN
ftr-443	1204	49	.	.	PUNCT
ftr-443	1205	1	the	the	DET
ftr-443	1205	2	second	second	ADJ
ftr-443	1205	3	most	most	ADV
ftr-443	1205	4	notable	notable	ADJ
ftr-443	1205	5	change	change	NOUN
ftr-443	1205	6	among	among	ADP
ftr-443	1205	7	the	the	DET
ftr-443	1205	8	1996	1996	NUM
ftr-443	1205	9	revisions	revision	NOUN
ftr-443	1205	10	is	be	AUX
ftr-443	1205	11	the	the	DET
ftr-443	1205	12	provision	provision	NOUN
ftr-443	1205	13	for	for	ADP
ftr-443	1205	14	electing	elect	VERB
ftr-443	1205	15	small	small	ADJ
ftr-443	1205	16	business	business	NOUN
ftr-443	1205	17	trusts	trust	NOUN
ftr-443	1205	18	(	(	PUNCT
ftr-443	1205	19	esbts).'96	esbts).'96	NUM
ftr-443	1205	20	added	add	VERB
ftr-443	1205	21	to	to	ADP
ftr-443	1205	22	the	the	DET
ftr-443	1205	23	list	list	NOUN
ftr-443	1205	24	of	of	ADP
ftr-443	1205	25	trusts	trust	NOUN
ftr-443	1205	26	that	that	PRON
ftr-443	1205	27	may	may	AUX
ftr-443	1205	28	own	own	VERB
ftr-443	1205	29	s	s	PART
ftr-443	1205	30	stock	stock	NOUN
ftr-443	1205	31	,	,	PUNCT
ftr-443	1205	32	the	the	DET
ftr-443	1205	33	esbt	esbt	NOUN
ftr-443	1205	34	fulfills	fulfill	VERB
ftr-443	1205	35	the	the	DET
ftr-443	1205	36	wishes	wish	NOUN
ftr-443	1205	37	of	of	ADP
ftr-443	1205	38	many	many	ADJ
ftr-443	1205	39	estate	estate	NOUN
ftr-443	1205	40	planners	planner	NOUN
ftr-443	1205	41	to	to	PART
ftr-443	1205	42	allow	allow	VERB
ftr-443	1205	43	accumulation	accumulation	NOUN
ftr-443	1205	44	or	or	CCONJ
ftr-443	1205	45	discretionary	discretionary	ADJ
ftr-443	1205	46	(	(	PUNCT
ftr-443	1205	47	nongrantor	nongrantor	NOUN
ftr-443	1205	48	)	)	PUNCT
ftr-443	1205	49	trusts	trust	VERB
ftr-443	1205	50	to	to	PART
ftr-443	1205	51	be	be	AUX
ftr-443	1205	52	s	s	NOUN
ftr-443	1205	53	shareholders	shareholder	NOUN
ftr-443	1205	54	.	.	PUNCT
ftr-443	1206	1	until	until	ADP
ftr-443	1206	2	1996	1996	NUM
ftr-443	1206	3	,	,	PUNCT
ftr-443	1206	4	a	a	DET
ftr-443	1206	5	trust	trust	NOUN
ftr-443	1206	6	could	could	AUX
ftr-443	1206	7	own	own	VERB
ftr-443	1206	8	s	s	PART
ftr-443	1206	9	stock	stock	NOUN
ftr-443	1206	10	only	only	ADV
ftr-443	1206	11	if	if	SCONJ
ftr-443	1206	12	it	it	PRON
ftr-443	1206	13	was	be	AUX
ftr-443	1206	14	a	a	DET
ftr-443	1206	15	grantor	grantor	NOUN
ftr-443	1206	16	193	193	NUM
ftr-443	1206	17	.	.	PUNCT
ftr-443	1207	1	the	the	DET
ftr-443	1207	2	requirements	requirement	NOUN
ftr-443	1207	3	of	of	ADP
ftr-443	1207	4	a	a	DET
ftr-443	1207	5	qsub	qsub	NOUN
ftr-443	1207	6	are	be	AUX
ftr-443	1207	7	that	that	SCONJ
ftr-443	1207	8	it	it	PRON
ftr-443	1207	9	must	must	AUX
ftr-443	1207	10	be	be	AUX
ftr-443	1207	11	(	(	PUNCT
ftr-443	1207	12	1	1	X
ftr-443	1207	13	)	)	PUNCT
ftr-443	1207	14	a	a	DET
ftr-443	1207	15	domestic	domestic	ADJ
ftr-443	1207	16	corporation	corporation	NOUN
ftr-443	1207	17	(	(	PUNCT
ftr-443	1207	18	2	2	NUM
ftr-443	1207	19	)	)	PUNCT
ftr-443	1207	20	that	that	PRON
ftr-443	1207	21	is	be	AUX
ftr-443	1207	22	not	not	PART
ftr-443	1207	23	an	an	DET
ftr-443	1207	24	"	"	PUNCT
ftr-443	1207	25	ineligible	ineligible	ADJ
ftr-443	1207	26	corporation	corporation	NOUN
ftr-443	1207	27	"	"	PUNCT
ftr-443	1207	28	(	(	PUNCT
ftr-443	1207	29	a	a	DET
ftr-443	1207	30	financial	financial	ADJ
ftr-443	1207	31	institution	institution	NOUN
ftr-443	1207	32	using	use	VERB
ftr-443	1207	33	the	the	DET
ftr-443	1207	34	reserve	reserve	NOUN
ftr-443	1207	35	method	method	NOUN
ftr-443	1207	36	of	of	ADP
ftr-443	1207	37	accounting	account	VERB
ftr-443	1207	38	for	for	ADP
ftr-443	1207	39	bad	bad	ADJ
ftr-443	1207	40	debts	debt	NOUN
ftr-443	1207	41	,	,	PUNCT
ftr-443	1207	42	an	an	DET
ftr-443	1207	43	insurance	insurance	NOUN
ftr-443	1207	44	company	company	NOUN
ftr-443	1207	45	taxed	tax	VERB
ftr-443	1207	46	under	under	ADP
ftr-443	1207	47	subchapter	subchapter	NOUN
ftr-443	1207	48	l	l	NOUN
ftr-443	1207	49	,	,	PUNCT
ftr-443	1207	50	a	a	DET
ftr-443	1207	51	§	§	ADJ
ftr-443	1207	52	936	936	NUM
ftr-443	1207	53	corporation	corporation	NOUN
ftr-443	1207	54	,	,	PUNCT
ftr-443	1207	55	or	or	CCONJ
ftr-443	1207	56	a	a	DET
ftr-443	1207	57	disc	disc	NOUN
ftr-443	1207	58	or	or	CCONJ
ftr-443	1207	59	former	former	ADJ
ftr-443	1207	60	disc	disc	NOUN
ftr-443	1207	61	)	)	PUNCT
ftr-443	1207	62	,	,	PUNCT
ftr-443	1207	63	(	(	PUNCT
ftr-443	1207	64	3	3	X
ftr-443	1207	65	)	)	PUNCT
ftr-443	1207	66	100	100	NUM
ftr-443	1207	67	%	%	NOUN
ftr-443	1207	68	of	of	ADP
ftr-443	1207	69	the	the	DET
ftr-443	1207	70	stock	stock	NOUN
ftr-443	1207	71	of	of	ADP
ftr-443	1207	72	which	which	PRON
ftr-443	1207	73	is	be	AUX
ftr-443	1207	74	owned	own	VERB
ftr-443	1207	75	by	by	ADP
ftr-443	1207	76	the	the	DET
ftr-443	1207	77	s	s	PROPN
ftr-443	1207	78	corporation	corporation	NOUN
ftr-443	1207	79	parent	parent	NOUN
ftr-443	1207	80	,	,	PUNCT
ftr-443	1207	81	and	and	CCONJ
ftr-443	1207	82	(	(	PUNCT
ftr-443	1207	83	4	4	X
ftr-443	1207	84	)	)	PUNCT
ftr-443	1207	85	which	which	PRON
ftr-443	1207	86	the	the	DET
ftr-443	1207	87	s	s	NOUN
ftr-443	1207	88	corporation	corporation	NOUN
ftr-443	1207	89	elects	elect	NOUN
ftr-443	1207	90	to	to	PART
ftr-443	1207	91	treat	treat	VERB
ftr-443	1207	92	as	as	ADP
ftr-443	1207	93	a	a	DET
ftr-443	1207	94	qsub	qsub	NOUN
ftr-443	1207	95	.	.	PUNCT
ftr-443	1208	1	see	see	VERB
ftr-443	1208	2	prop	prop	NOUN
ftr-443	1208	3	.	.	PUNCT
ftr-443	1209	1	regs	regs	PROPN
ftr-443	1209	2	.	.	PUNCT
ftr-443	1210	1	§	§	PROPN
ftr-443	1210	2	§	§	PROPN
ftr-443	1210	3	1.1361	1.1361	NUM
ftr-443	1210	4	-	-	SYM
ftr-443	1210	5	2	2	NUM
ftr-443	1210	6	to	to	PART
ftr-443	1210	7	-5	-5	VERB
ftr-443	1210	8	;	;	PUNCT
ftr-443	1210	9	notice	notice	VERB
ftr-443	1210	10	97	97	NUM
ftr-443	1210	11	-	-	SYM
ftr-443	1210	12	4	4	NUM
ftr-443	1210	13	,	,	PUNCT
ftr-443	1210	14	1997	1997	NUM
ftr-443	1210	15	-	-	SYM
ftr-443	1210	16	1	1	NUM
ftr-443	1210	17	c.b	c.b	PROPN
ftr-443	1210	18	.	.	PROPN
ftr-443	1210	19	351	351	NUM
ftr-443	1210	20	(	(	PUNCT
ftr-443	1210	21	qsub	qsub	PROPN
ftr-443	1210	22	election	election	NOUN
ftr-443	1210	23	filed	file	VERB
ftr-443	1210	24	on	on	ADP
ftr-443	1210	25	form	form	NOUN
ftr-443	1210	26	966	966	NUM
ftr-443	1210	27	)	)	PUNCT
ftr-443	1210	28	.	.	PUNCT
ftr-443	1211	1	the	the	DET
ftr-443	1211	2	qsub	qsub	PROPN
ftr-443	1211	3	has	have	VERB
ftr-443	1211	4	its	its	PRON
ftr-443	1211	5	roots	root	NOUN
ftr-443	1211	6	in	in	ADP
ftr-443	1211	7	reit	reit	NOUN
ftr-443	1211	8	provisions	provision	NOUN
ftr-443	1211	9	allowing	allow	VERB
ftr-443	1211	10	qualified	qualified	ADJ
ftr-443	1211	11	reit	reit	NOUN
ftr-443	1211	12	subsidiaries	subsidiary	NOUN
ftr-443	1211	13	.	.	PUNCT
ftr-443	1212	1	see	see	VERB
ftr-443	1212	2	irc	irc	PROPN
ftr-443	1212	3	§	§	PROPN
ftr-443	1212	4	856(i	856(i	PROPN
ftr-443	1212	5	)	)	PUNCT
ftr-443	1212	6	.	.	PUNCT
ftr-443	1213	1	see	see	VERB
ftr-443	1213	2	generally	generally	ADV
ftr-443	1213	3	,	,	PUNCT
ftr-443	1213	4	jerald	jerald	PROPN
ftr-443	1213	5	d.	d.	PROPN
ftr-443	1213	6	august	august	PROPN
ftr-443	1213	7	et	et	PROPN
ftr-443	1213	8	al	al	PROPN
ftr-443	1213	9	.	.	PROPN
ftr-443	1213	10	,	,	PUNCT
ftr-443	1213	11	a	a	DET
ftr-443	1213	12	planning	planning	NOUN
ftr-443	1213	13	guide	guide	NOUN
ftr-443	1213	14	to	to	ADP
ftr-443	1213	15	the	the	DET
ftr-443	1213	16	proposed	propose	VERB
ftr-443	1213	17	regulations	regulation	NOUN
ftr-443	1213	18	on	on	ADP
ftr-443	1213	19	qualified	qualified	ADJ
ftr-443	1213	20	subchapter	subchapter	NOUN
ftr-443	1213	21	s	s	PART
ftr-443	1213	22	subsidiaries	subsidiary	NOUN
ftr-443	1213	23	,	,	PUNCT
ftr-443	1213	24	supra	supra	PROPN
ftr-443	1213	25	note	note	NOUN
ftr-443	1213	26	54	54	NUM
ftr-443	1213	27	;	;	PUNCT
ftr-443	1213	28	jerald	jerald	PROPN
ftr-443	1213	29	d.	d.	PROPN
ftr-443	1213	30	august	august	PROPN
ftr-443	1213	31	,	,	PUNCT
ftr-443	1213	32	the	the	DET
ftr-443	1213	33	new	new	ADJ
ftr-443	1213	34	world	world	NOUN
ftr-443	1213	35	of	of	ADP
ftr-443	1213	36	controlled	control	VERB
ftr-443	1213	37	subsidiaries	subsidiary	NOUN
ftr-443	1213	38	under	under	ADP
ftr-443	1213	39	subehapter	subehapter	PROPN
ftr-443	1213	40	s	s	PROPN
ftr-443	1213	41	,	,	PUNCT
ftr-443	1213	42	9	9	NUM
ftr-443	1213	43	j.	j.	PROPN
ftr-443	1213	44	s	s	PROPN
ftr-443	1213	45	corp	corp	PROPN
ftr-443	1213	46	.	.	PROPN
ftr-443	1213	47	tax'n	tax'n	ADP
ftr-443	1213	48	3	3	NUM
ftr-443	1213	49	(	(	PUNCT
ftr-443	1213	50	1997	1997	NUM
ftr-443	1213	51	)	)	PUNCT
ftr-443	1213	52	;	;	PUNCT
ftr-443	1213	53	bryan	bryan	PROPN
ftr-443	1213	54	p.	p.	PROPN
ftr-443	1213	55	collins	collins	PROPN
ftr-443	1213	56	et	et	PROPN
ftr-443	1213	57	al	al	PROPN
ftr-443	1213	58	.	.	PROPN
ftr-443	1213	59	,	,	PUNCT
ftr-443	1213	60	qualified	qualified	ADJ
ftr-443	1213	61	subchapter	subchapter	NOUN
ftr-443	1213	62	s	s	PART
ftr-443	1213	63	subsidiaries	subsidiary	NOUN
ftr-443	1213	64	:	:	PUNCT
ftr-443	1213	65	a	a	DET
ftr-443	1213	66	tax	tax	NOUN
ftr-443	1213	67	planning	planning	NOUN
ftr-443	1213	68	guide	guide	NOUN
ftr-443	1213	69	to	to	ADP
ftr-443	1213	70	the	the	DET
ftr-443	1213	71	new	new	ADJ
ftr-443	1213	72	law	law	NOUN
ftr-443	1213	73	,	,	PUNCT
ftr-443	1213	74	9	9	NUM
ftr-443	1213	75	j.	j.	PROPN
ftr-443	1213	76	s	s	PROPN
ftr-443	1213	77	corp	corp	PROPN
ftr-443	1213	78	.	.	PROPN
ftr-443	1213	79	tax'n	tax'n	ADP
ftr-443	1213	80	219	219	NUM
ftr-443	1213	81	(	(	PUNCT
ftr-443	1213	82	1998	1998	NUM
ftr-443	1213	83	)	)	PUNCT
ftr-443	1213	84	.	.	PUNCT
ftr-443	1214	1	194	194	NUM
ftr-443	1214	2	.	.	PUNCT
ftr-443	1215	1	see	see	VERB
ftr-443	1215	2	staff	staff	NOUN
ftr-443	1215	3	of	of	ADP
ftr-443	1215	4	joint	joint	ADJ
ftr-443	1215	5	comm	comm	NOUN
ftr-443	1215	6	.	.	PUNCT
ftr-443	1216	1	on	on	ADP
ftr-443	1216	2	tax'n	tax'n	NOUN
ftr-443	1216	3	,	,	PUNCT
ftr-443	1216	4	104th	104th	ADJ
ftr-443	1216	5	cong	cong	NOUN
ftr-443	1216	6	.	.	PROPN
ftr-443	1216	7	,	,	PUNCT
ftr-443	1216	8	2d	2d	NUM
ftr-443	1216	9	sess	sess	NOUN
ftr-443	1216	10	.	.	PUNCT
ftr-443	1217	1	,	,	PUNCT
ftr-443	1217	2	general	general	ADJ
ftr-443	1217	3	explanation	explanation	NOUN
ftr-443	1217	4	of	of	ADP
ftr-443	1217	5	tax	tax	NOUN
ftr-443	1217	6	legislation	legislation	NOUN
ftr-443	1217	7	enacted	enact	VERB
ftr-443	1217	8	in	in	ADP
ftr-443	1217	9	the	the	DET
ftr-443	1217	10	104th	104th	ADJ
ftr-443	1217	11	congress	congress	PROPN
ftr-443	1217	12	120	120	NUM
ftr-443	1217	13	(	(	PUNCT
ftr-443	1217	14	comm	comm	NOUN
ftr-443	1217	15	.	.	PUNCT
ftr-443	1218	1	print	print	NOUN
ftr-443	1218	2	1996	1996	NUM
ftr-443	1218	3	)	)	PUNCT
ftr-443	1218	4	.	.	PUNCT
ftr-443	1219	1	although	although	SCONJ
ftr-443	1219	2	the	the	DET
ftr-443	1219	3	general	general	ADJ
ftr-443	1219	4	explanation	explanation	NOUN
ftr-443	1219	5	is	be	AUX
ftr-443	1219	6	not	not	PART
ftr-443	1219	7	official	official	ADJ
ftr-443	1219	8	legislative	legislative	ADJ
ftr-443	1219	9	history	history	NOUN
ftr-443	1219	10	,	,	PUNCT
ftr-443	1219	11	it	it	PRON
ftr-443	1219	12	indicates	indicate	VERB
ftr-443	1219	13	congressional	congressional	ADJ
ftr-443	1219	14	intent	intent	NOUN
ftr-443	1219	15	as	as	ADP
ftr-443	1219	16	to	to	ADP
ftr-443	1219	17	a	a	DET
ftr-443	1219	18	particular	particular	ADJ
ftr-443	1219	19	provision	provision	NOUN
ftr-443	1219	20	.	.	PUNCT
ftr-443	1220	1	arguably	arguably	ADV
ftr-443	1220	2	,	,	PUNCT
ftr-443	1220	3	the	the	DET
ftr-443	1220	4	statutory	statutory	ADJ
ftr-443	1220	5	language	language	NOUN
ftr-443	1220	6	adequately	adequately	ADV
ftr-443	1220	7	supports	support	VERB
ftr-443	1220	8	this	this	DET
ftr-443	1220	9	conclusion	conclusion	NOUN
ftr-443	1220	10	without	without	ADP
ftr-443	1220	11	assistance	assistance	NOUN
ftr-443	1220	12	from	from	ADP
ftr-443	1220	13	legislative	legislative	ADJ
ftr-443	1220	14	history	history	NOUN
ftr-443	1220	15	.	.	PUNCT
ftr-443	1221	1	195	195	NUM
ftr-443	1221	2	.	.	PUNCT
ftr-443	1222	1	this	this	DET
ftr-443	1222	2	provision	provision	NOUN
ftr-443	1222	3	was	be	AUX
ftr-443	1222	4	§	§	PROPN
ftr-443	1222	5	1361(b)(2	1361(b)(2	NUM
ftr-443	1222	6	)	)	PUNCT
ftr-443	1222	7	(	(	PUNCT
ftr-443	1222	8	before	before	ADP
ftr-443	1222	9	amendment	amendment	NOUN
ftr-443	1222	10	by	by	ADP
ftr-443	1222	11	p.l	p.l	PROPN
ftr-443	1222	12	104	104	PROPN
ftr-443	1222	13	-	-	SYM
ftr-443	1222	14	188	188	NUM
ftr-443	1222	15	,	,	PUNCT
ftr-443	1222	16	§	§	NOUN
ftr-443	1222	17	1308(a	1308(a	NUM
ftr-443	1222	18	)	)	PUNCT
ftr-443	1222	19	,	,	PUNCT
ftr-443	1222	20	110	110	NUM
ftr-443	1222	21	stat	stat	NOUN
ftr-443	1222	22	.	.	PUNCT
ftr-443	1223	1	1755	1755	NUM
ftr-443	1223	2	,	,	PUNCT
ftr-443	1223	3	1782	1782	NUM
ftr-443	1223	4	(	(	PUNCT
ftr-443	1223	5	1996	1996	NUM
ftr-443	1223	6	)	)	PUNCT
ftr-443	1223	7	)	)	PUNCT
ftr-443	1223	8	.	.	PUNCT
ftr-443	1224	1	196	196	NUM
ftr-443	1224	2	.	.	PUNCT
ftr-443	1224	3	see	see	VERB
ftr-443	1224	4	irc	irc	PROPN
ftr-443	1224	5	§	§	PROPN
ftr-443	1224	6	1361(c)(2)(a)(v	1361(c)(2)(a)(v	PROPN
ftr-443	1224	7	)	)	PUNCT
ftr-443	1224	8	.	.	PUNCT
ftr-443	1225	1	in	in	ADP
ftr-443	1225	2	order	order	NOUN
ftr-443	1225	3	to	to	PART
ftr-443	1225	4	qualify	qualify	VERB
ftr-443	1225	5	as	as	ADP
ftr-443	1225	6	an	an	DET
ftr-443	1225	7	esbt	esbt	NOUN
ftr-443	1225	8	(	(	PUNCT
ftr-443	1225	9	1	1	X
ftr-443	1225	10	)	)	PUNCT
ftr-443	1225	11	all	all	DET
ftr-443	1225	12	beneficiaries	beneficiary	NOUN
ftr-443	1225	13	of	of	ADP
ftr-443	1225	14	the	the	DET
ftr-443	1225	15	trust	trust	NOUN
ftr-443	1225	16	must	must	AUX
ftr-443	1225	17	be	be	AUX
ftr-443	1225	18	individuals	individual	NOUN
ftr-443	1225	19	eligible	eligible	ADJ
ftr-443	1225	20	to	to	PART
ftr-443	1225	21	own	own	VERB
ftr-443	1225	22	s	s	PART
ftr-443	1225	23	stock	stock	NOUN
ftr-443	1225	24	,	,	PUNCT
ftr-443	1225	25	estates	estate	NOUN
ftr-443	1225	26	,	,	PUNCT
ftr-443	1225	27	or	or	CCONJ
ftr-443	1225	28	charitable	charitable	ADJ
ftr-443	1225	29	organizations	organization	NOUN
ftr-443	1225	30	,	,	PUNCT
ftr-443	1225	31	(	(	PUNCT
ftr-443	1225	32	2	2	X
ftr-443	1225	33	)	)	PUNCT
ftr-443	1225	34	no	no	DET
ftr-443	1225	35	interest	interest	NOUN
ftr-443	1225	36	in	in	ADP
ftr-443	1225	37	the	the	DET
ftr-443	1225	38	trust	trust	NOUN
ftr-443	1225	39	may	may	AUX
ftr-443	1225	40	have	have	AUX
ftr-443	1225	41	been	be	AUX
ftr-443	1225	42	acquired	acquire	VERB
ftr-443	1225	43	by	by	ADP
ftr-443	1225	44	"	"	PUNCT
ftr-443	1225	45	purchase,"and	purchase,"and	NOUN
ftr-443	1225	46	(	(	PUNCT
ftr-443	1225	47	3	3	X
ftr-443	1225	48	)	)	PUNCT
ftr-443	1225	49	an	an	DET
ftr-443	1225	50	election	election	NOUN
ftr-443	1225	51	must	must	AUX
ftr-443	1225	52	be	be	AUX
ftr-443	1225	53	made	make	VERB
ftr-443	1225	54	by	by	ADP
ftr-443	1225	55	the	the	DET
ftr-443	1225	56	trustee	trustee	NOUN
ftr-443	1225	57	as	as	SCONJ
ftr-443	1225	58	prescribed	prescribe	VERB
ftr-443	1225	59	in	in	ADP
ftr-443	1225	60	the	the	DET
ftr-443	1225	61	regulations	regulation	NOUN
ftr-443	1225	62	.	.	PUNCT
ftr-443	1226	1	see	see	VERB
ftr-443	1226	2	irc	irc	PROPN
ftr-443	1226	3	§	§	PROPN
ftr-443	1226	4	1361(e)(1	1361(e)(1	NOUN
ftr-443	1226	5	)	)	PUNCT
ftr-443	1226	6	.	.	PUNCT
ftr-443	1227	1	1999	1999	NUM
ftr-443	1227	2	]	]	PUNCT
ftr-443	1227	3	florida	florida	PROPN
ftr-443	1227	4	tax	tax	PROPN
ftr-443	1227	5	review	review	PROPN
ftr-443	1227	6	trust	trust	PROPN
ftr-443	1227	7	,	,	PUNCT
ftr-443	1227	8	held	hold	VERB
ftr-443	1227	9	the	the	DET
ftr-443	1227	10	stock	stock	NOUN
ftr-443	1227	11	for	for	ADP
ftr-443	1227	12	only	only	ADV
ftr-443	1227	13	a	a	DET
ftr-443	1227	14	short	short	ADJ
ftr-443	1227	15	period	period	NOUN
ftr-443	1227	16	after	after	ADP
ftr-443	1227	17	the	the	DET
ftr-443	1227	18	death	death	NOUN
ftr-443	1227	19	of	of	ADP
ftr-443	1227	20	the	the	DET
ftr-443	1227	21	grantor	grantor	NOUN
ftr-443	1227	22	,	,	PUNCT
ftr-443	1227	23	or	or	CCONJ
ftr-443	1227	24	was	be	AUX
ftr-443	1227	25	a	a	DET
ftr-443	1227	26	"	"	PUNCT
ftr-443	1227	27	qualified	qualified	ADJ
ftr-443	1227	28	subchapter	subchapter	NOUN
ftr-443	1227	29	s	s	PART
ftr-443	1227	30	trust	trust	NOUN
ftr-443	1227	31	"	"	PUNCT
ftr-443	1227	32	(	(	PUNCT
ftr-443	1227	33	generally	generally	ADV
ftr-443	1227	34	,	,	PUNCT
ftr-443	1227	35	a	a	DET
ftr-443	1227	36	simple	simple	ADJ
ftr-443	1227	37	trust	trust	NOUN
ftr-443	1227	38	with	with	ADP
ftr-443	1227	39	only	only	ADV
ftr-443	1227	40	one	one	NUM
ftr-443	1227	41	beneficiary	beneficiary	NOUN
ftr-443	1227	42	,	,	PUNCT
ftr-443	1227	43	who	who	PRON
ftr-443	1227	44	elects	elect	VERB
ftr-443	1227	45	to	to	PART
ftr-443	1227	46	be	be	AUX
ftr-443	1227	47	taxed	tax	VERB
ftr-443	1227	48	on	on	ADP
ftr-443	1227	49	all	all	PRON
ftr-443	1227	50	of	of	ADP
ftr-443	1227	51	the	the	DET
ftr-443	1227	52	trust	trust	NOUN
ftr-443	1227	53	's	's	PART
ftr-443	1227	54	income	income	NOUN
ftr-443	1227	55	)	)	PUNCT
ftr-443	1227	56	.	.	PUNCT
ftr-443	1228	1	7	7	NUM
ftr-443	1229	1	the	the	DET
ftr-443	1229	2	peculiar	peculiar	ADJ
ftr-443	1229	3	feature	feature	NOUN
ftr-443	1229	4	of	of	ADP
ftr-443	1229	5	the	the	DET
ftr-443	1229	6	esbt	esbt	NOUN
ftr-443	1229	7	rules	rule	NOUN
ftr-443	1229	8	is	be	AUX
ftr-443	1229	9	the	the	DET
ftr-443	1229	10	treatment	treatment	NOUN
ftr-443	1229	11	of	of	ADP
ftr-443	1229	12	the	the	DET
ftr-443	1229	13	portion	portion	NOUN
ftr-443	1229	14	of	of	ADP
ftr-443	1229	15	the	the	DET
ftr-443	1229	16	trust	trust	NOUN
ftr-443	1229	17	consisting	consist	VERB
ftr-443	1229	18	of	of	ADP
ftr-443	1229	19	s	s	NOUN
ftr-443	1229	20	stock	stock	NOUN
ftr-443	1229	21	as	as	ADP
ftr-443	1229	22	a	a	DET
ftr-443	1229	23	separate	separate	ADJ
ftr-443	1229	24	taxpayer	taxpayer	NOUN
ftr-443	1229	25	with	with	ADP
ftr-443	1229	26	respect	respect	NOUN
ftr-443	1229	27	to	to	ADP
ftr-443	1229	28	its	its	PRON
ftr-443	1229	29	allocable	allocable	ADJ
ftr-443	1229	30	share	share	NOUN
ftr-443	1229	31	of	of	ADP
ftr-443	1229	32	subchapter	subchapter	NOUN
ftr-443	1229	33	s	s	PART
ftr-443	1229	34	income	income	NOUN
ftr-443	1229	35	.	.	PUNCT
ftr-443	1230	1	9	9	NUM
ftr-443	1230	2	'	'	PUNCT
ftr-443	1230	3	an	an	DET
ftr-443	1230	4	esbt	esbt	NOUN
ftr-443	1230	5	is	be	AUX
ftr-443	1230	6	taxed	tax	VERB
ftr-443	1230	7	on	on	ADP
ftr-443	1230	8	its	its	PRON
ftr-443	1230	9	s	s	NOUN
ftr-443	1230	10	income	income	NOUN
ftr-443	1230	11	at	at	ADP
ftr-443	1230	12	the	the	DET
ftr-443	1230	13	maximum	maximum	ADJ
ftr-443	1230	14	rate	rate	NOUN
ftr-443	1230	15	of	of	ADP
ftr-443	1230	16	tax	tax	NOUN
ftr-443	1230	17	on	on	ADP
ftr-443	1230	18	individuals	individual	NOUN
ftr-443	1230	19	,	,	PUNCT
ftr-443	1230	20	subject	subject	ADJ
ftr-443	1230	21	to	to	ADP
ftr-443	1230	22	the	the	DET
ftr-443	1230	23	special	special	ADJ
ftr-443	1230	24	rates	rate	NOUN
ftr-443	1230	25	for	for	ADP
ftr-443	1230	26	net	net	ADJ
ftr-443	1230	27	capital	capital	NOUN
ftr-443	1230	28	gain	gain	NOUN
ftr-443	1230	29	.	.	PUNCT
ftr-443	1231	1	trust	trust	NOUN
ftr-443	1231	2	distributions	distribution	NOUN
ftr-443	1231	3	from	from	ADP
ftr-443	1231	4	s	s	NOUN
ftr-443	1231	5	income	income	NOUN
ftr-443	1231	6	are	be	AUX
ftr-443	1231	7	nontaxable	nontaxable	ADJ
ftr-443	1231	8	to	to	ADP
ftr-443	1231	9	the	the	DET
ftr-443	1231	10	beneficiaries	beneficiary	NOUN
ftr-443	1231	11	and	and	CCONJ
ftr-443	1231	12	nondeductible	nondeductible	ADJ
ftr-443	1231	13	by	by	ADP
ftr-443	1231	14	the	the	DET
ftr-443	1231	15	trust	trust	NOUN
ftr-443	1231	16	.	.	PUNCT
ftr-443	1232	1	the	the	DET
ftr-443	1232	2	normal	normal	ADJ
ftr-443	1232	3	rules	rule	NOUN
ftr-443	1232	4	of	of	ADP
ftr-443	1232	5	subchapter	subchapter	NOUN
ftr-443	1232	6	j	j	PROPN
ftr-443	1232	7	,	,	PUNCT
ftr-443	1232	8	including	include	VERB
ftr-443	1232	9	carryovers	carryover	NOUN
ftr-443	1232	10	and	and	CCONJ
ftr-443	1232	11	excess	excess	ADJ
ftr-443	1232	12	deductions	deduction	NOUN
ftr-443	1232	13	in	in	ADP
ftr-443	1232	14	the	the	DET
ftr-443	1232	15	trust	trust	NOUN
ftr-443	1232	16	's	's	PART
ftr-443	1232	17	final	final	ADJ
ftr-443	1232	18	taxable	taxable	ADJ
ftr-443	1232	19	year,'99	year,'99	PROPN
ftr-443	1232	20	apply	apply	VERB
ftr-443	1232	21	to	to	ADP
ftr-443	1232	22	the	the	DET
ftr-443	1232	23	trust	trust	NOUN
ftr-443	1232	24	's	's	PART
ftr-443	1232	25	other	other	ADJ
ftr-443	1232	26	income	income	NOUN
ftr-443	1232	27	and	and	CCONJ
ftr-443	1232	28	deduction	deduction	NOUN
ftr-443	1232	29	.	.	PUNCT
ftr-443	1233	1	the	the	DET
ftr-443	1233	2	treasury	treasury	PROPN
ftr-443	1233	3	presumably	presumably	ADV
ftr-443	1233	4	endorsed	endorse	VERB
ftr-443	1233	5	the	the	DET
ftr-443	1233	6	esbt	esbt	NOUN
ftr-443	1233	7	model	model	NOUN
ftr-443	1233	8	because	because	SCONJ
ftr-443	1233	9	tax	tax	NOUN
ftr-443	1233	10	could	could	AUX
ftr-443	1233	11	be	be	AUX
ftr-443	1233	12	charged	charge	VERB
ftr-443	1233	13	and	and	CCONJ
ftr-443	1233	14	collected	collect	VERB
ftr-443	1233	15	from	from	ADP
ftr-443	1233	16	a	a	DET
ftr-443	1233	17	single	single	ADJ
ftr-443	1233	18	source	source	NOUN
ftr-443	1233	19	-	-	PUNCT
ftr-443	1233	20	the	the	DET
ftr-443	1233	21	trust	trust	NOUN
ftr-443	1233	22	.	.	PUNCT
ftr-443	1234	1	if	if	SCONJ
ftr-443	1234	2	subchapter	subchapter	PROPN
ftr-443	1234	3	j	j	PROPN
ftr-443	1234	4	had	have	AUX
ftr-443	1234	5	applied	apply	VERB
ftr-443	1234	6	to	to	ADP
ftr-443	1234	7	the	the	DET
ftr-443	1234	8	accumulation	accumulation	NOUN
ftr-443	1234	9	trust	trust	NOUN
ftr-443	1234	10	and	and	CCONJ
ftr-443	1234	11	shareholder	shareholder	NOUN
ftr-443	1234	12	,	,	PUNCT
ftr-443	1234	13	the	the	DET
ftr-443	1234	14	trust	trust	NOUN
ftr-443	1234	15	could	could	AUX
ftr-443	1234	16	have	have	AUX
ftr-443	1234	17	allocated	allocate	VERB
ftr-443	1234	18	the	the	DET
ftr-443	1234	19	incidence	incidence	NOUN
ftr-443	1234	20	of	of	ADP
ftr-443	1234	21	tax	tax	NOUN
ftr-443	1234	22	between	between	ADP
ftr-443	1234	23	the	the	DET
ftr-443	1234	24	trust	trust	NOUN
ftr-443	1234	25	and	and	CCONJ
ftr-443	1234	26	the	the	DET
ftr-443	1234	27	beneficiary	beneficiary	NOUN
ftr-443	1234	28	in	in	ADP
ftr-443	1234	29	order	order	NOUN
ftr-443	1234	30	to	to	ADP
ftr-443	1234	31	minimizing	minimize	VERB
ftr-443	1234	32	tax.2'0	tax.2'0	NUM
ftr-443	1234	33	by	by	ADP
ftr-443	1234	34	taxing	tax	VERB
ftr-443	1234	35	the	the	DET
ftr-443	1234	36	esbt	esbt	NOUN
ftr-443	1234	37	's	's	PART
ftr-443	1234	38	share	share	NOUN
ftr-443	1234	39	of	of	ADP
ftr-443	1234	40	s	s	NOUN
ftr-443	1234	41	income	income	NOUN
ftr-443	1234	42	at	at	ADP
ftr-443	1234	43	the	the	DET
ftr-443	1234	44	highest	high	ADJ
ftr-443	1234	45	individual	individual	ADJ
ftr-443	1234	46	rate	rate	NOUN
ftr-443	1234	47	,	,	PUNCT
ftr-443	1234	48	the	the	DET
ftr-443	1234	49	rules	rule	NOUN
ftr-443	1234	50	eliminate	eliminate	VERB
ftr-443	1234	51	all	all	DET
ftr-443	1234	52	bracket	bracket	NOUN
ftr-443	1234	53	shifting	shift	VERB
ftr-443	1234	54	opportunities	opportunity	NOUN
ftr-443	1234	55	.	.	PUNCT
ftr-443	1235	1	the	the	DET
ftr-443	1235	2	design	design	NOUN
ftr-443	1235	3	and	and	CCONJ
ftr-443	1235	4	effect	effect	NOUN
ftr-443	1235	5	of	of	ADP
ftr-443	1235	6	esbts	esbt	NOUN
ftr-443	1235	7	bear	bear	VERB
ftr-443	1235	8	a	a	DET
ftr-443	1235	9	striking	strike	VERB
ftr-443	1235	10	resemblance	resemblance	NOUN
ftr-443	1235	11	to	to	ADP
ftr-443	1235	12	the	the	DET
ftr-443	1235	13	"	"	PUNCT
ftr-443	1235	14	comprehensive	comprehensive	ADJ
ftr-443	1235	15	business	business	NOUN
ftr-443	1235	16	income	income	NOUN
ftr-443	1235	17	tax	tax	NOUN
ftr-443	1235	18	"	"	PUNCT
ftr-443	1235	19	(	(	PUNCT
ftr-443	1235	20	cbi	cbi	PROPN
ftr-443	1235	21	proposed	propose	VERB
ftr-443	1235	22	by	by	ADP
ftr-443	1235	23	the	the	DET
ftr-443	1235	24	treasury	treasury	NOUN
ftr-443	1235	25	in	in	ADP
ftr-443	1235	26	its	its	PRON
ftr-443	1235	27	corporate	corporate	ADJ
ftr-443	1235	28	integration	integration	NOUN
ftr-443	1235	29	study	study	NOUN
ftr-443	1235	30	of	of	ADP
ftr-443	1235	31	1992.0	1992.0	NUM
ftr-443	1235	32	!	!	PUNCT
ftr-443	1236	1	the	the	DET
ftr-443	1236	2	cbit	cbit	NOUN
ftr-443	1236	3	regime	regime	NOUN
ftr-443	1236	4	,	,	PUNCT
ftr-443	1236	5	which	which	PRON
ftr-443	1236	6	would	would	AUX
ftr-443	1236	7	apply	apply	VERB
ftr-443	1236	8	to	to	ADP
ftr-443	1236	9	all	all	DET
ftr-443	1236	10	businesses	business	NOUN
ftr-443	1236	11	regardless	regardless	ADV
ftr-443	1236	12	of	of	ADP
ftr-443	1236	13	size	size	NOUN
ftr-443	1236	14	or	or	CCONJ
ftr-443	1236	15	form	form	NOUN
ftr-443	1236	16	of	of	ADP
ftr-443	1236	17	organizational	organizational	ADJ
ftr-443	1236	18	,	,	PUNCT
ftr-443	1236	19	would	would	AUX
ftr-443	1236	20	impose	impose	VERB
ftr-443	1236	21	an	an	DET
ftr-443	1236	22	entity	entity	NOUN
ftr-443	1236	23	level	level	NOUN
ftr-443	1236	24	tax	tax	NOUN
ftr-443	1236	25	on	on	ADP
ftr-443	1236	26	its	its	PRON
ftr-443	1236	27	taxable	taxable	ADJ
ftr-443	1236	28	income	income	NOUN
ftr-443	1236	29	,	,	PUNCT
ftr-443	1236	30	computed	compute	VERB
ftr-443	1236	31	without	without	ADP
ftr-443	1236	32	deductions	deduction	NOUN
ftr-443	1236	33	for	for	ADP
ftr-443	1236	34	interest	interest	NOUN
ftr-443	1236	35	expense	expense	NOUN
ftr-443	1236	36	and	and	CCONJ
ftr-443	1236	37	whether	whether	SCONJ
ftr-443	1236	38	the	the	DET
ftr-443	1236	39	income	income	NOUN
ftr-443	1236	40	was	be	AUX
ftr-443	1236	41	distributed	distribute	VERB
ftr-443	1236	42	or	or	CCONJ
ftr-443	1236	43	not	not	PART
ftr-443	1236	44	,	,	PUNCT
ftr-443	1236	45	and	and	CCONJ
ftr-443	1236	46	distributions	distribution	NOUN
ftr-443	1236	47	and	and	CCONJ
ftr-443	1236	48	interest	interest	NOUN
ftr-443	1236	49	payments	payment	NOUN
ftr-443	1236	50	would	would	AUX
ftr-443	1236	51	be	be	AUX
ftr-443	1236	52	exempt	exempt	ADJ
ftr-443	1236	53	from	from	ADP
ftr-443	1236	54	tax	tax	NOUN
ftr-443	1236	55	to	to	ADP
ftr-443	1236	56	the	the	DET
ftr-443	1236	57	owners	owner	NOUN
ftr-443	1236	58	and	and	CCONJ
ftr-443	1236	59	creditors	creditor	NOUN
ftr-443	1236	60	.	.	PUNCT
ftr-443	1237	1	a	a	DET
ftr-443	1237	2	major	major	ADJ
ftr-443	1237	3	goal	goal	NOUN
ftr-443	1237	4	of	of	ADP
ftr-443	1237	5	the	the	DET
ftr-443	1237	6	cbit	cbit	NOUN
ftr-443	1237	7	is	be	AUX
ftr-443	1237	8	to	to	PART
ftr-443	1237	9	remove	remove	VERB
ftr-443	1237	10	the	the	DET
ftr-443	1237	11	bias	bias	NOUN
ftr-443	1237	12	in	in	ADP
ftr-443	1237	13	favor	favor	NOUN
ftr-443	1237	14	of	of	ADP
ftr-443	1237	15	debt	debt	NOUN
ftr-443	1237	16	over	over	ADP
ftr-443	1237	17	equity	equity	NOUN
ftr-443	1237	18	under	under	ADP
ftr-443	1237	19	current	current	ADJ
ftr-443	1237	20	law	law	NOUN
ftr-443	1237	21	under	under	ADP
ftr-443	1237	22	subchapter	subchapter	NOUN
ftr-443	1237	23	c.	c.	NOUN
ftr-443	1237	24	197	197	NUM
ftr-443	1237	25	.	.	PUNCT
ftr-443	1238	1	see	see	VERB
ftr-443	1238	2	irc	irc	PROPN
ftr-443	1238	3	§	§	PROPN
ftr-443	1238	4	1361(c)(2)(a	1361(c)(2)(a	NUM
ftr-443	1238	5	)	)	PUNCT
ftr-443	1238	6	.	.	PUNCT
ftr-443	1239	1	for	for	ADP
ftr-443	1239	2	the	the	DET
ftr-443	1239	3	definition	definition	NOUN
ftr-443	1239	4	of	of	ADP
ftr-443	1239	5	qualified	qualified	ADJ
ftr-443	1239	6	subchapter	subchapter	NOUN
ftr-443	1239	7	s	s	PART
ftr-443	1239	8	trust	trust	NOUN
ftr-443	1239	9	,	,	PUNCT
ftr-443	1239	10	see	see	VERB
ftr-443	1239	11	§	§	PROPN
ftr-443	1239	12	1361(d	1361(d	NUM
ftr-443	1239	13	)	)	PUNCT
ftr-443	1239	14	.	.	PUNCT
ftr-443	1240	1	198	198	NUM
ftr-443	1240	2	.	.	PUNCT
ftr-443	1240	3	see	see	VERB
ftr-443	1240	4	irc	irc	PROPN
ftr-443	1240	5	§	§	PROPN
ftr-443	1240	6	641(d	641(d	PROPN
ftr-443	1240	7	)	)	PUNCT
ftr-443	1240	8	.	.	PUNCT
ftr-443	1241	1	each	each	DET
ftr-443	1241	2	potential	potential	ADJ
ftr-443	1241	3	current	current	ADJ
ftr-443	1241	4	beneficiary	beneficiary	NOUN
ftr-443	1241	5	of	of	ADP
ftr-443	1241	6	the	the	DET
ftr-443	1241	7	trust	trust	NOUN
ftr-443	1241	8	is	be	AUX
ftr-443	1241	9	counted	count	VERB
ftr-443	1241	10	as	as	ADP
ftr-443	1241	11	one	one	NUM
ftr-443	1241	12	shareholder	shareholder	NOUN
ftr-443	1241	13	for	for	ADP
ftr-443	1241	14	purposes	purpose	NOUN
ftr-443	1241	15	of	of	ADP
ftr-443	1241	16	the	the	DET
ftr-443	1241	17	75	75	NUM
ftr-443	1241	18	-	-	PUNCT
ftr-443	1241	19	shareholder	shareholder	NOUN
ftr-443	1241	20	ceiling	ceiling	NOUN
ftr-443	1241	21	;	;	PUNCT
ftr-443	1241	22	if	if	SCONJ
ftr-443	1241	23	there	there	PRON
ftr-443	1241	24	are	be	VERB
ftr-443	1241	25	no	no	DET
ftr-443	1241	26	potential	potential	ADJ
ftr-443	1241	27	current	current	ADJ
ftr-443	1241	28	beneficiaries	beneficiary	NOUN
ftr-443	1241	29	,	,	PUNCT
ftr-443	1241	30	the	the	DET
ftr-443	1241	31	trust	trust	NOUN
ftr-443	1241	32	is	be	AUX
ftr-443	1241	33	treated	treat	VERB
ftr-443	1241	34	as	as	ADP
ftr-443	1241	35	the	the	DET
ftr-443	1241	36	shareholder	shareholder	NOUN
ftr-443	1241	37	.	.	PUNCT
ftr-443	1242	1	see	see	VERB
ftr-443	1242	2	jerald	jerald	PROPN
ftr-443	1242	3	d.	d.	PROPN
ftr-443	1242	4	august	august	PROPN
ftr-443	1242	5	,	,	PUNCT
ftr-443	1242	6	recent	recent	ADJ
ftr-443	1242	7	regulations	regulation	NOUN
ftr-443	1242	8	clarify	clarify	VERB
ftr-443	1242	9	use	use	NOUN
ftr-443	1242	10	of	of	ADP
ftr-443	1242	11	qssts	qsst	NOUN
ftr-443	1242	12	in	in	ADP
ftr-443	1242	13	estate	estate	NOUN
ftr-443	1242	14	planning	planning	NOUN
ftr-443	1242	15	,	,	PUNCT
ftr-443	1242	16	23	23	NUM
ftr-443	1242	17	es	es	NOUN
ftr-443	1242	18	.	.	PROPN
ftr-443	1242	19	plan	plan	NOUN
ftr-443	1242	20	.	.	PUNCT
ftr-443	1243	1	102	102	NUM
ftr-443	1243	2	(	(	PUNCT
ftr-443	1243	3	1996	1996	NUM
ftr-443	1243	4	)	)	PUNCT
ftr-443	1243	5	.	.	PUNCT
ftr-443	1244	1	199	199	NUM
ftr-443	1244	2	.	.	PUNCT
ftr-443	1245	1	see	see	VERB
ftr-443	1245	2	irc	irc	PROPN
ftr-443	1245	3	§	§	PROPN
ftr-443	1245	4	642(h	642(h	PROPN
ftr-443	1245	5	)	)	PUNCT
ftr-443	1245	6	.	.	PUNCT
ftr-443	1246	1	200	200	NUM
ftr-443	1246	2	.	.	PUNCT
ftr-443	1247	1	see	see	VERB
ftr-443	1247	2	irc	irc	PROPN
ftr-443	1247	3	§	§	PROPN
ftr-443	1247	4	§	§	PROPN
ftr-443	1247	5	661	661	NUM
ftr-443	1247	6	-	-	SYM
ftr-443	1247	7	663	663	NUM
ftr-443	1247	8	(	(	PUNCT
ftr-443	1247	9	distribution	distribution	NOUN
ftr-443	1247	10	deductions	deduction	NOUN
ftr-443	1247	11	for	for	ADP
ftr-443	1247	12	accumulation	accumulation	NOUN
ftr-443	1247	13	trusts	trust	NOUN
ftr-443	1247	14	)	)	PUNCT
ftr-443	1247	15	;	;	PUNCT
ftr-443	1247	16	§	§	PROPN
ftr-443	1247	17	§	§	PROPN
ftr-443	1247	18	665668	665668	NUM
ftr-443	1247	19	(	(	PUNCT
ftr-443	1247	20	excess	excess	ADJ
ftr-443	1247	21	accumulation	accumulation	NOUN
ftr-443	1247	22	distributions	distribution	NOUN
ftr-443	1247	23	)	)	PUNCT
ftr-443	1247	24	.	.	PUNCT
ftr-443	1248	1	see	see	VERB
ftr-443	1248	2	generally	generally	ADV
ftr-443	1248	3	m.	m.	PROPN
ftr-443	1248	4	carr	carr	PROPN
ftr-443	1248	5	ferguson	ferguson	PROPN
ftr-443	1248	6	et	et	PROPN
ftr-443	1248	7	al	al	PROPN
ftr-443	1248	8	.	.	PROPN
ftr-443	1248	9	,	,	PUNCT
ftr-443	1248	10	federal	federal	ADJ
ftr-443	1248	11	income	income	NOUN
ftr-443	1248	12	taxation	taxation	NOUN
ftr-443	1248	13	of	of	ADP
ftr-443	1248	14	estates	estate	NOUN
ftr-443	1248	15	,	,	PUNCT
ftr-443	1248	16	trusts	trust	NOUN
ftr-443	1248	17	,	,	PUNCT
ftr-443	1248	18	and	and	CCONJ
ftr-443	1248	19	beneficiaries	beneficiary	NOUN
ftr-443	1248	20	(	(	PUNCT
ftr-443	1248	21	2d	2d	NUM
ftr-443	1248	22	ed	ed	NOUN
ftr-443	1248	23	.	.	PROPN
ftr-443	1248	24	1997	1997	NUM
ftr-443	1248	25	)	)	PUNCT
ftr-443	1248	26	.	.	PUNCT
ftr-443	1249	1	201	201	NUM
ftr-443	1249	2	.	.	PUNCT
ftr-443	1250	1	dep't	dep't	NOUN
ftr-443	1250	2	of	of	ADP
ftr-443	1250	3	the	the	DET
ftr-443	1250	4	treasury	treasury	NOUN
ftr-443	1250	5	,	,	PUNCT
ftr-443	1250	6	report	report	NOUN
ftr-443	1250	7	on	on	ADP
ftr-443	1250	8	integration	integration	NOUN
ftr-443	1250	9	of	of	ADP
ftr-443	1250	10	the	the	DET
ftr-443	1250	11	individual	individual	ADJ
ftr-443	1250	12	and	and	CCONJ
ftr-443	1250	13	corporate	corporate	ADJ
ftr-443	1250	14	tax	tax	NOUN
ftr-443	1250	15	systems	system	NOUN
ftr-443	1250	16	:	:	PUNCT
ftr-443	1250	17	taxing	tax	VERB
ftr-443	1250	18	business	business	NOUN
ftr-443	1250	19	income	income	NOUN
ftr-443	1250	20	once	once	ADV
ftr-443	1250	21	(	(	PUNCT
ftr-443	1250	22	1992	1992	NUM
ftr-443	1250	23	)	)	PUNCT
ftr-443	1250	24	.	.	PUNCT
ftr-443	1251	1	see	see	VERB
ftr-443	1251	2	also	also	ADV
ftr-443	1251	3	alvin	alvin	PROPN
ftr-443	1251	4	c.	c.	PROPN
ftr-443	1251	5	warren	warren	PROPN
ftr-443	1251	6	,	,	PUNCT
ftr-443	1251	7	jr	jr	PROPN
ftr-443	1251	8	.	.	PROPN
ftr-443	1251	9	,	,	PUNCT
ftr-443	1251	10	reporter	reporter	NOUN
ftr-443	1251	11	's	's	PART
ftr-443	1251	12	study	study	NOUN
ftr-443	1251	13	of	of	ADP
ftr-443	1251	14	corporate	corporate	ADJ
ftr-443	1251	15	integration	integration	NOUN
ftr-443	1251	16	,	,	PUNCT
ftr-443	1251	17	integration	integration	NOUN
ftr-443	1251	18	of	of	ADP
ftr-443	1251	19	the	the	DET
ftr-443	1251	20	individual	individual	ADJ
ftr-443	1251	21	and	and	CCONJ
ftr-443	1251	22	corporate	corporate	ADJ
ftr-443	1251	23	income	income	NOUN
ftr-443	1251	24	taxes	taxis	NOUN
ftr-443	1251	25	,	,	PUNCT
ftr-443	1251	26	1993	1993	NUM
ftr-443	1251	27	a.l.i	a.l.i	NOUN
ftr-443	1251	28	.	.	PUNCT
ftr-443	1252	1	income	income	NOUN
ftr-443	1252	2	tax	tax	NOUN
ftr-443	1252	3	project	project	NOUN
ftr-443	1252	4	(	(	PUNCT
ftr-443	1252	5	1993	1993	NUM
ftr-443	1252	6	)	)	PUNCT
ftr-443	1252	7	.	.	PUNCT
ftr-443	1253	1	for	for	ADP
ftr-443	1253	2	analysis	analysis	NOUN
ftr-443	1253	3	of	of	ADP
ftr-443	1253	4	the	the	DET
ftr-443	1253	5	treasury	treasury	PROPN
ftr-443	1253	6	and	and	CCONJ
ftr-443	1253	7	ali	ali	PROPN
ftr-443	1253	8	studies	study	NOUN
ftr-443	1253	9	,	,	PUNCT
ftr-443	1253	10	see	see	VERB
ftr-443	1253	11	michael	michael	PROPN
ftr-443	1253	12	l.	l.	PROPN
ftr-443	1253	13	schler	schler	PROPN
ftr-443	1253	14	,	,	PUNCT
ftr-443	1253	15	taxing	tax	VERB
ftr-443	1253	16	corporate	corporate	ADJ
ftr-443	1253	17	income	income	NOUN
ftr-443	1253	18	once	once	ADV
ftr-443	1253	19	(	(	PUNCT
ftr-443	1253	20	or	or	CCONJ
ftr-443	1253	21	hopefully	hopefully	ADV
ftr-443	1253	22	not	not	PART
ftr-443	1253	23	at	at	ADV
ftr-443	1253	24	all	all	ADV
ftr-443	1253	25	):	):	PUNCT
ftr-443	1253	26	a	a	DET
ftr-443	1253	27	practitioner	practitioner	NOUN
ftr-443	1253	28	's	's	PART
ftr-443	1253	29	comparison	comparison	NOUN
ftr-443	1253	30	of	of	ADP
ftr-443	1253	31	the	the	DET
ftr-443	1253	32	treasury	treasury	PROPN
ftr-443	1253	33	and	and	CCONJ
ftr-443	1253	34	ali	ali	PROPN
ftr-443	1253	35	integration	integration	NOUN
ftr-443	1253	36	models	model	NOUN
ftr-443	1253	37	,	,	PUNCT
ftr-443	1253	38	47	47	NUM
ftr-443	1253	39	tax	tax	NOUN
ftr-443	1253	40	l.	l.	PROPN
ftr-443	1253	41	rev	rev	PROPN
ftr-443	1253	42	.	.	PROPN
ftr-443	1253	43	509	509	NUM
ftr-443	1253	44	(	(	PUNCT
ftr-443	1253	45	1992	1992	NUM
ftr-443	1253	46	)	)	PUNCT
ftr-443	1253	47	;	;	PUNCT
ftr-443	1253	48	george	george	PROPN
ftr-443	1253	49	k.	k.	PROPN
ftr-443	1253	50	yin	yin	PROPN
ftr-443	1253	51	,	,	PUNCT
ftr-443	1253	52	corporate	corporate	ADJ
ftr-443	1253	53	tax	tax	NOUN
ftr-443	1253	54	integration	integration	NOUN
ftr-443	1253	55	and	and	CCONJ
ftr-443	1253	56	the	the	DET
ftr-443	1253	57	search	search	NOUN
ftr-443	1253	58	for	for	ADP
ftr-443	1253	59	the	the	DET
ftr-443	1253	60	pragmatic	pragmatic	ADJ
ftr-443	1253	61	ideal	ideal	NOUN
ftr-443	1253	62	,	,	PUNCT
ftr-443	1253	63	47	47	NUM
ftr-443	1253	64	tax	tax	NOUN
ftr-443	1253	65	l.	l.	PROPN
ftr-443	1253	66	rev	rev	PROPN
ftr-443	1253	67	.	.	PROPN
ftr-443	1253	68	431	431	NUM
ftr-443	1253	69	(	(	PUNCT
ftr-443	1253	70	1992	1992	NUM
ftr-443	1253	71	)	)	PUNCT
ftr-443	1253	72	.	.	PUNCT
ftr-443	1254	1	[	[	X
ftr-443	1254	2	vol	vol	NOUN
ftr-443	1254	3	,	,	PUNCT
ftr-443	1254	4	4:3	4:3	NUM
ftr-443	1254	5	benefits	benefit	NOUN
ftr-443	1254	6	and	and	CCONJ
ftr-443	1254	7	burdens	burden	NOUN
ftr-443	1254	8	of	of	ADP
ftr-443	1254	9	subchapter	subchapter	NOUN
ftr-443	1254	10	s	s	PART
ftr-443	1254	11	v.	v.	NOUN
ftr-443	1254	12	why	why	SCONJ
ftr-443	1254	13	not	not	PART
ftr-443	1254	14	repeal	repeal	VERB
ftr-443	1254	15	subchapter	subchapter	NOUN
ftr-443	1254	16	s	s	NOUN
ftr-443	1254	17	?	?	PUNCT
ftr-443	1255	1	after	after	ADP
ftr-443	1255	2	40	40	NUM
ftr-443	1255	3	years	year	NOUN
ftr-443	1255	4	of	of	ADP
ftr-443	1255	5	subchapter	subchapter	NOUN
ftr-443	1255	6	s	s	NOUN
ftr-443	1255	7	,	,	PUNCT
ftr-443	1255	8	especially	especially	ADV
ftr-443	1255	9	after	after	ADP
ftr-443	1255	10	the	the	DET
ftr-443	1255	11	ctb	ctb	PROPN
ftr-443	1255	12	regulations	regulation	NOUN
ftr-443	1255	13	and	and	CCONJ
ftr-443	1255	14	the	the	DET
ftr-443	1255	15	wide	wide	ADJ
ftr-443	1255	16	use	use	NOUN
ftr-443	1255	17	of	of	ADP
ftr-443	1255	18	llcs	llcs	NOUN
ftr-443	1255	19	and	and	CCONJ
ftr-443	1255	20	llps	llp	NOUN
ftr-443	1255	21	,	,	PUNCT
ftr-443	1255	22	the	the	DET
ftr-443	1255	23	obvious	obvious	ADJ
ftr-443	1255	24	question	question	NOUN
ftr-443	1255	25	is	be	AUX
ftr-443	1255	26	whether	whether	SCONJ
ftr-443	1255	27	we	we	PRON
ftr-443	1255	28	really	really	ADV
ftr-443	1255	29	need	need	VERB
ftr-443	1255	30	it	it	PRON
ftr-443	1255	31	?	?	PUNCT
ftr-443	1256	1	while	while	SCONJ
ftr-443	1256	2	many	many	ADJ
ftr-443	1256	3	traps	trap	NOUN
ftr-443	1256	4	for	for	ADP
ftr-443	1256	5	the	the	DET
ftr-443	1256	6	unwary	unwary	ADJ
ftr-443	1256	7	were	be	AUX
ftr-443	1256	8	removed	remove	VERB
ftr-443	1256	9	in	in	ADP
ftr-443	1256	10	1982	1982	NUM
ftr-443	1256	11	and	and	CCONJ
ftr-443	1256	12	1996	1996	NUM
ftr-443	1256	13	,	,	PUNCT
ftr-443	1256	14	subchapter	subchapter	NOUN
ftr-443	1256	15	s	s	PART
ftr-443	1256	16	continues	continue	VERB
ftr-443	1256	17	to	to	PART
ftr-443	1256	18	be	be	AUX
ftr-443	1256	19	plagued	plague	VERB
ftr-443	1256	20	by	by	ADP
ftr-443	1256	21	eligibility	eligibility	NOUN
ftr-443	1256	22	and	and	CCONJ
ftr-443	1256	23	operational	operational	ADJ
ftr-443	1256	24	impediments	impediment	NOUN
ftr-443	1256	25	.	.	PUNCT
ftr-443	1257	1	these	these	DET
ftr-443	1257	2	restrictions	restriction	NOUN
ftr-443	1257	3	make	make	VERB
ftr-443	1257	4	the	the	DET
ftr-443	1257	5	llc	llc	NOUN
ftr-443	1257	6	and	and	CCONJ
ftr-443	1257	7	its	its	PRON
ftr-443	1257	8	partnership	partnership	NOUN
ftr-443	1257	9	siblings	sibling	NOUN
ftr-443	1257	10	better	well	ADV
ftr-443	1257	11	passthrough	passthrough	NOUN
ftr-443	1257	12	vehicles	vehicle	NOUN
ftr-443	1257	13	for	for	ADP
ftr-443	1257	14	business	business	NOUN
ftr-443	1257	15	and	and	CCONJ
ftr-443	1257	16	investment	investment	NOUN
ftr-443	1257	17	activities	activity	NOUN
ftr-443	1257	18	.	.	PUNCT
ftr-443	1258	1	since	since	SCONJ
ftr-443	1258	2	state	state	NOUN
ftr-443	1258	3	law	law	NOUN
ftr-443	1258	4	no	no	ADV
ftr-443	1258	5	longer	long	ADV
ftr-443	1258	6	determines	determine	VERB
ftr-443	1258	7	an	an	DET
ftr-443	1258	8	unincorporated	unincorporated	ADJ
ftr-443	1258	9	entity	entity	NOUN
ftr-443	1258	10	's	's	PART
ftr-443	1258	11	tax	tax	NOUN
ftr-443	1258	12	status	status	NOUN
ftr-443	1258	13	,	,	PUNCT
ftr-443	1258	14	why	why	SCONJ
ftr-443	1258	15	not	not	PART
ftr-443	1258	16	simplify	simplify	VERB
ftr-443	1258	17	the	the	DET
ftr-443	1258	18	taxation	taxation	NOUN
ftr-443	1258	19	of	of	ADP
ftr-443	1258	20	all	all	DET
ftr-443	1258	21	passthrough	passthrough	NOUN
ftr-443	1258	22	entities	entity	NOUN
ftr-443	1258	23	into	into	ADP
ftr-443	1258	24	one	one	NUM
ftr-443	1258	25	regime	regime	NOUN
ftr-443	1258	26	?	?	PUNCT
ftr-443	1259	1	indeed	indeed	ADV
ftr-443	1259	2	,	,	PUNCT
ftr-443	1259	3	the	the	DET
ftr-443	1259	4	conduit	conduit	NOUN
ftr-443	1259	5	rules	rule	NOUN
ftr-443	1259	6	of	of	ADP
ftr-443	1259	7	subchapter	subchapter	NOUN
ftr-443	1259	8	k	k	PROPN
ftr-443	1259	9	offer	offer	VERB
ftr-443	1259	10	far	far	ADV
ftr-443	1259	11	greater	great	ADJ
ftr-443	1259	12	structural	structural	ADJ
ftr-443	1259	13	and	and	CCONJ
ftr-443	1259	14	transactional	transactional	ADJ
ftr-443	1259	15	flexibility	flexibility	NOUN
ftr-443	1259	16	,	,	PUNCT
ftr-443	1259	17	with	with	ADP
ftr-443	1259	18	the	the	DET
ftr-443	1259	19	exception	exception	NOUN
ftr-443	1259	20	of	of	ADP
ftr-443	1259	21	an	an	DET
ftr-443	1259	22	inability	inability	NOUN
ftr-443	1259	23	to	to	PART
ftr-443	1259	24	engage	engage	VERB
ftr-443	1259	25	in	in	ADP
ftr-443	1259	26	tax	tax	NOUN
ftr-443	1259	27	-	-	PUNCT
ftr-443	1259	28	free	free	ADJ
ftr-443	1259	29	reorganizations	reorganization	NOUN
ftr-443	1259	30	,	,	PUNCT
ftr-443	1259	31	and	and	CCONJ
ftr-443	1259	32	also	also	ADV
ftr-443	1259	33	offer	offer	VERB
ftr-443	1259	34	more	more	ADJ
ftr-443	1259	35	income	income	NOUN
ftr-443	1259	36	deferral	deferral	ADJ
ftr-443	1259	37	techniques	technique	NOUN
ftr-443	1259	38	than	than	ADP
ftr-443	1259	39	subchapter	subchapter	NOUN
ftr-443	1259	40	s.	s.	PROPN
ftr-443	1259	41	moreover	moreover	ADV
ftr-443	1259	42	,	,	PUNCT
ftr-443	1259	43	in	in	ADP
ftr-443	1259	44	not	not	PART
ftr-443	1259	45	providing	provide	VERB
ftr-443	1259	46	subchapter	subchapter	NOUN
ftr-443	1259	47	s	s	PART
ftr-443	1259	48	corporations	corporation	NOUN
ftr-443	1259	49	with	with	ADP
ftr-443	1259	50	the	the	DET
ftr-443	1259	51	same	same	ADJ
ftr-443	1259	52	organizational	organizational	ADJ
ftr-443	1259	53	flexibility	flexibility	NOUN
ftr-443	1259	54	as	as	ADP
ftr-443	1259	55	partnerships	partnership	NOUN
ftr-443	1259	56	-	-	PUNCT
ftr-443	1259	57	by	by	ADV
ftr-443	1259	58	,	,	PUNCT
ftr-443	1259	59	for	for	ADP
ftr-443	1259	60	example	example	NOUN
ftr-443	1259	61	,	,	PUNCT
ftr-443	1259	62	prohibiting	prohibit	VERB
ftr-443	1259	63	nonresident	nonresident	ADJ
ftr-443	1259	64	alien	alien	ADJ
ftr-443	1259	65	shareholders	shareholder	NOUN
ftr-443	1259	66	and	and	CCONJ
ftr-443	1259	67	preferred	preferred	ADJ
ftr-443	1259	68	stock	stock	NOUN
ftr-443	1259	69	-	-	PUNCT
ftr-443	1259	70	congress	congress	PROPN
ftr-443	1259	71	has	have	AUX
ftr-443	1259	72	restricted	restrict	VERB
ftr-443	1259	73	s	s	PART
ftr-443	1259	74	corporations	corporation	NOUN
ftr-443	1259	75	and	and	CCONJ
ftr-443	1259	76	their	their	PRON
ftr-443	1259	77	shareholders	shareholder	NOUN
ftr-443	1259	78	in	in	ADP
ftr-443	1259	79	their	their	PRON
ftr-443	1259	80	access	access	NOUN
ftr-443	1259	81	to	to	ADP
ftr-443	1259	82	capital	capital	NOUN
ftr-443	1259	83	.	.	PUNCT
ftr-443	1260	1	although	although	SCONJ
ftr-443	1260	2	these	these	DET
ftr-443	1260	3	defects	defect	NOUN
ftr-443	1260	4	may	may	AUX
ftr-443	1260	5	sometimes	sometimes	ADV
ftr-443	1260	6	be	be	AUX
ftr-443	1260	7	avoided	avoid	VERB
ftr-443	1260	8	by	by	ADP
ftr-443	1260	9	using	use	VERB
ftr-443	1260	10	a	a	DET
ftr-443	1260	11	joint	joint	ADJ
ftr-443	1260	12	venture	venture	NOUN
ftr-443	1260	13	including	include	VERB
ftr-443	1260	14	one	one	NUM
ftr-443	1260	15	or	or	CCONJ
ftr-443	1260	16	more	more	ADJ
ftr-443	1260	17	s	s	NOUN
ftr-443	1260	18	corporations	corporation	NOUN
ftr-443	1260	19	,	,	PUNCT
ftr-443	1260	20	this	this	DET
ftr-443	1260	21	structure	structure	NOUN
ftr-443	1260	22	results	result	VERB
ftr-443	1260	23	in	in	ADP
ftr-443	1260	24	greater	great	ADJ
ftr-443	1260	25	transactional	transactional	ADJ
ftr-443	1260	26	and	and	CCONJ
ftr-443	1260	27	compliance	compliance	NOUN
ftr-443	1260	28	costs	cost	NOUN
ftr-443	1260	29	and	and	CCONJ
ftr-443	1260	30	rewards	reward	VERB
ftr-443	1260	31	the	the	DET
ftr-443	1260	32	more	more	ADV
ftr-443	1260	33	sophisticated	sophisticated	ADJ
ftr-443	1260	34	business	business	NOUN
ftr-443	1260	35	owners	owner	NOUN
ftr-443	1260	36	over	over	ADP
ftr-443	1260	37	the	the	DET
ftr-443	1260	38	less	less	ADV
ftr-443	1260	39	sophisticated	sophisticated	ADJ
ftr-443	1260	40	.	.	PUNCT
ftr-443	1261	1	ideally	ideally	ADV
ftr-443	1261	2	,	,	PUNCT
ftr-443	1261	3	subchapter	subchapter	PROPN
ftr-443	1261	4	k	k	PROPN
ftr-443	1261	5	should	should	AUX
ftr-443	1261	6	be	be	AUX
ftr-443	1261	7	the	the	DET
ftr-443	1261	8	paradigm	paradigm	NOUN
ftr-443	1261	9	passthrough	passthrough	NOUN
ftr-443	1261	10	model	model	NOUN
ftr-443	1261	11	for	for	ADP
ftr-443	1261	12	all	all	DET
ftr-443	1261	13	private	private	ADJ
ftr-443	1261	14	business	business	NOUN
ftr-443	1261	15	firms	firm	NOUN
ftr-443	1261	16	.	.	PUNCT
ftr-443	1262	1	in	in	ADP
ftr-443	1262	2	a	a	DET
ftr-443	1262	3	world	world	NOUN
ftr-443	1262	4	without	without	ADP
ftr-443	1262	5	subchapter	subchapter	NOUN
ftr-443	1262	6	s	s	PROPN
ftr-443	1262	7	,	,	PUNCT
ftr-443	1262	8	business	business	NOUN
ftr-443	1262	9	entities	entity	NOUN
ftr-443	1262	10	might	might	AUX
ftr-443	1262	11	be	be	AUX
ftr-443	1262	12	grouped	group	VERB
ftr-443	1262	13	into	into	ADP
ftr-443	1262	14	two	two	NUM
ftr-443	1262	15	categories	category	NOUN
ftr-443	1262	16	,	,	PUNCT
ftr-443	1262	17	entities	entity	NOUN
ftr-443	1262	18	with	with	ADP
ftr-443	1262	19	ownership	ownership	NOUN
ftr-443	1262	20	interests	interest	NOUN
ftr-443	1262	21	readily	readily	ADV
ftr-443	1262	22	tradeable	tradeable	ADJ
ftr-443	1262	23	on	on	ADP
ftr-443	1262	24	established	establish	VERB
ftr-443	1262	25	securities	security	NOUN
ftr-443	1262	26	markets	market	NOUN
ftr-443	1262	27	and	and	CCONJ
ftr-443	1262	28	all	all	DET
ftr-443	1262	29	other	other	ADJ
ftr-443	1262	30	business	business	NOUN
ftr-443	1262	31	entities	entity	NOUN
ftr-443	1262	32	.	.	PUNCT
ftr-443	1262	33	'	'	PUNCT
ftr-443	1263	1	publicly	publicly	ADV
ftr-443	1263	2	traded	trade	VERB
ftr-443	1263	3	enterprises	enterprise	NOUN
ftr-443	1263	4	would	would	AUX
ftr-443	1263	5	always	always	ADV
ftr-443	1263	6	be	be	AUX
ftr-443	1263	7	taxed	tax	VERB
ftr-443	1263	8	as	as	ADP
ftr-443	1263	9	c	c	PROPN
ftr-443	1263	10	corporation	corporation	NOUN
ftr-443	1263	11	,	,	PUNCT
ftr-443	1263	12	as	as	ADP
ftr-443	1263	13	under	under	ADP
ftr-443	1263	14	current	current	ADJ
ftr-443	1263	15	law	law	NOUN
ftr-443	1263	16	,	,	PUNCT
ftr-443	1263	17	while	while	SCONJ
ftr-443	1263	18	all	all	DET
ftr-443	1263	19	nonpublicly	nonpublicly	ADV
ftr-443	1263	20	traded	trade	VERB
ftr-443	1263	21	business	business	NOUN
ftr-443	1263	22	enterprises	enterprise	NOUN
ftr-443	1263	23	would	would	AUX
ftr-443	1263	24	be	be	AUX
ftr-443	1263	25	taxed	tax	VERB
ftr-443	1263	26	as	as	ADP
ftr-443	1263	27	partnerships	partnership	NOUN
ftr-443	1263	28	under	under	ADP
ftr-443	1263	29	subchapter	subchapter	NOUN
ftr-443	1263	30	k.	k.	PROPN
ftr-443	1264	1	although	although	SCONJ
ftr-443	1264	2	this	this	DET
ftr-443	1264	3	simplification	simplification	NOUN
ftr-443	1264	4	of	of	ADP
ftr-443	1264	5	the	the	DET
ftr-443	1264	6	taxation	taxation	NOUN
ftr-443	1264	7	of	of	ADP
ftr-443	1264	8	business	business	NOUN
ftr-443	1264	9	entities	entity	NOUN
ftr-443	1264	10	has	have	VERB
ftr-443	1264	11	broad	broad	ADJ
ftr-443	1264	12	conceptual	conceptual	ADJ
ftr-443	1264	13	appeal	appeal	NOUN
ftr-443	1264	14	,	,	PUNCT
ftr-443	1264	15	it	it	PRON
ftr-443	1264	16	could	could	AUX
ftr-443	1264	17	be	be	AUX
ftr-443	1264	18	considered	consider	VERB
ftr-443	1264	19	seriously	seriously	ADV
ftr-443	1264	20	only	only	ADV
ftr-443	1264	21	if	if	SCONJ
ftr-443	1264	22	very	very	ADV
ftr-443	1264	23	liberal	liberal	ADJ
ftr-443	1264	24	transitional	transitional	ADJ
ftr-443	1264	25	rules	rule	NOUN
ftr-443	1264	26	were	be	AUX
ftr-443	1264	27	enacted	enact	VERB
ftr-443	1264	28	to	to	PART
ftr-443	1264	29	reduce	reduce	VERB
ftr-443	1264	30	the	the	DET
ftr-443	1264	31	tax	tax	NOUN
ftr-443	1264	32	cost	cost	NOUN
ftr-443	1264	33	of	of	ADP
ftr-443	1264	34	converting	convert	VERB
ftr-443	1264	35	from	from	ADP
ftr-443	1264	36	c	c	PROPN
ftr-443	1264	37	to	to	ADP
ftr-443	1264	38	k	k	PROPN
ftr-443	1264	39	or	or	CCONJ
ftr-443	1264	40	s	s	X
ftr-443	1264	41	to	to	ADP
ftr-443	1264	42	k	k	PROPN
ftr-443	1264	43	status	status	PROPN
ftr-443	1264	44	.	.	PUNCT
ftr-443	1265	1	a.	a.	NOUN
ftr-443	1265	2	conversions	conversion	NOUN
ftr-443	1265	3	to	to	PART
ftr-443	1265	4	subchapter	subchapter	NOUN
ftr-443	1265	5	s	s	PART
ftr-443	1265	6	or	or	CCONJ
ftr-443	1265	7	subchapter	subchapter	NOUN
ftr-443	1265	8	k	k	NOUN
ftr-443	1265	9	:	:	PUNCT
ftr-443	1265	10	the	the	DET
ftr-443	1265	11	practical	practical	ADJ
ftr-443	1265	12	barriers	barrier	NOUN
ftr-443	1265	13	the	the	DET
ftr-443	1265	14	tax	tax	NOUN
ftr-443	1265	15	cost	cost	NOUN
ftr-443	1265	16	of	of	ADP
ftr-443	1265	17	converting	convert	VERB
ftr-443	1265	18	a	a	DET
ftr-443	1265	19	c	c	NOUN
ftr-443	1265	20	corporation	corporation	NOUN
ftr-443	1265	21	to	to	ADP
ftr-443	1265	22	a	a	DET
ftr-443	1265	23	partnership	partnership	NOUN
ftr-443	1265	24	is	be	AUX
ftr-443	1265	25	often	often	ADV
ftr-443	1265	26	very	very	ADV
ftr-443	1265	27	high	high	ADJ
ftr-443	1265	28	because	because	SCONJ
ftr-443	1265	29	the	the	DET
ftr-443	1265	30	conversion	conversion	NOUN
ftr-443	1265	31	is	be	AUX
ftr-443	1265	32	treated	treat	VERB
ftr-443	1265	33	as	as	ADP
ftr-443	1265	34	a	a	DET
ftr-443	1265	35	corporate	corporate	ADJ
ftr-443	1265	36	liquidation	liquidation	NOUN
ftr-443	1265	37	,	,	PUNCT
ftr-443	1265	38	causing	cause	VERB
ftr-443	1265	39	the	the	DET
ftr-443	1265	40	corporation	corporation	NOUN
ftr-443	1265	41	to	to	PART
ftr-443	1265	42	be	be	AUX
ftr-443	1265	43	taxed	tax	VERB
ftr-443	1265	44	on	on	ADP
ftr-443	1265	45	unrealized	unrealized	ADJ
ftr-443	1265	46	gains	gain	NOUN
ftr-443	1265	47	in	in	ADP
ftr-443	1265	48	its	its	PRON
ftr-443	1265	49	assets	asset	NOUN
ftr-443	1265	50	and	and	CCONJ
ftr-443	1265	51	the	the	DET
ftr-443	1265	52	202	202	NUM
ftr-443	1265	53	.	.	PUNCT
ftr-443	1266	1	see	see	VERB
ftr-443	1266	2	rev	rev	PROPN
ftr-443	1266	3	.	.	PROPN
ftr-443	1266	4	rul	rul	PROPN
ftr-443	1266	5	.	.	PUNCT
ftr-443	1267	1	77	77	NUM
ftr-443	1267	2	-	-	SYM
ftr-443	1267	3	220	220	NUM
ftr-443	1267	4	,	,	PUNCT
ftr-443	1267	5	1977	1977	NUM
ftr-443	1267	6	-	-	SYM
ftr-443	1267	7	1	1	NUM
ftr-443	1267	8	c.b	c.b	PROPN
ftr-443	1267	9	.	.	PROPN
ftr-443	1267	10	263	263	NUM
ftr-443	1267	11	,	,	PUNCT
ftr-443	1267	12	revoked	revoke	VERB
ftr-443	1267	13	by	by	ADP
ftr-443	1267	14	rev	rev	PROPN
ftr-443	1267	15	.	.	PROPN
ftr-443	1267	16	rul	rul	PROPN
ftr-443	1267	17	.	.	PUNCT
ftr-443	1268	1	94	94	NUM
ftr-443	1268	2	-	-	SYM
ftr-443	1268	3	43	43	NUM
ftr-443	1268	4	,	,	PUNCT
ftr-443	1268	5	1994	1994	NUM
ftr-443	1268	6	-	-	SYM
ftr-443	1268	7	2	2	NUM
ftr-443	1268	8	c.b	c.b	PROPN
ftr-443	1268	9	.	.	PROPN
ftr-443	1268	10	198	198	NUM
ftr-443	1268	11	;	;	PUNCT
ftr-443	1268	12	see	see	VERB
ftr-443	1268	13	regs	reg	NOUN
ftr-443	1268	14	.	.	PUNCT
ftr-443	1269	1	§	§	PROPN
ftr-443	1269	2	1.701	1.701	NUM
ftr-443	1269	3	-	-	NUM
ftr-443	1269	4	2(d	2(d	NUM
ftr-443	1269	5	)	)	PUNCT
ftr-443	1269	6	ex	ex	NOUN
ftr-443	1269	7	.	.	NOUN
ftr-443	1269	8	2	2	NUM
ftr-443	1269	9	.	.	NUM
ftr-443	1269	10	203	203	NUM
ftr-443	1269	11	.	.	PUNCT
ftr-443	1270	1	this	this	PRON
ftr-443	1270	2	was	be	AUX
ftr-443	1270	3	the	the	DET
ftr-443	1270	4	baseline	baseline	ADJ
ftr-443	1270	5	proposal	proposal	NOUN
ftr-443	1270	6	in	in	ADP
ftr-443	1270	7	a	a	DET
ftr-443	1270	8	draft	draft	NOUN
ftr-443	1270	9	of	of	ADP
ftr-443	1270	10	an	an	DET
ftr-443	1270	11	ali	ali	PROPN
ftr-443	1270	12	study	study	NOUN
ftr-443	1270	13	on	on	ADP
ftr-443	1270	14	passthrough	passthrough	PROPN
ftr-443	1270	15	entities	entity	NOUN
ftr-443	1270	16	.	.	PUNCT
ftr-443	1271	1	see	see	VERB
ftr-443	1271	2	george	george	PROPN
ftr-443	1271	3	k.	k.	PROPN
ftr-443	1271	4	yin	yin	PROPN
ftr-443	1271	5	&	&	CCONJ
ftr-443	1271	6	david	david	PROPN
ftr-443	1271	7	j.	j.	PROPN
ftr-443	1271	8	shakow	shakow	PROPN
ftr-443	1271	9	,	,	PUNCT
ftr-443	1271	10	memorandum	memorandum	NOUN
ftr-443	1271	11	no	no	INTJ
ftr-443	1271	12	.	.	NOUN
ftr-443	1271	13	3	3	NUM
ftr-443	1271	14	,	,	PUNCT
ftr-443	1271	15	taxation	taxation	NOUN
ftr-443	1271	16	of	of	ADP
ftr-443	1271	17	private	private	ADJ
ftr-443	1271	18	business	business	NOUN
ftr-443	1271	19	enterprises	enterprise	NOUN
ftr-443	1271	20	,	,	PUNCT
ftr-443	1271	21	1997	1997	NUM
ftr-443	1271	22	a.l.i	a.l.i	NOUN
ftr-443	1271	23	.	.	PUNCT
ftr-443	1272	1	fed	fed	PROPN
ftr-443	1272	2	.	.	PUNCT
ftr-443	1273	1	income	income	NOUN
ftr-443	1273	2	tax	tax	NOUN
ftr-443	1273	3	project	project	NOUN
ftr-443	1273	4	(	(	PUNCT
ftr-443	1273	5	1997	1997	NUM
ftr-443	1273	6	)	)	PUNCT
ftr-443	1273	7	.	.	PUNCT
ftr-443	1274	1	19991	19991	NUM
ftr-443	1274	2	florida	florida	PROPN
ftr-443	1274	3	tax	tax	PROPN
ftr-443	1274	4	review	review	NOUN
ftr-443	1274	5	shareholders	shareholder	NOUN
ftr-443	1274	6	to	to	PART
ftr-443	1274	7	be	be	AUX
ftr-443	1274	8	taxed	tax	VERB
ftr-443	1274	9	on	on	ADP
ftr-443	1274	10	the	the	DET
ftr-443	1274	11	gains	gain	NOUN
ftr-443	1274	12	on	on	ADP
ftr-443	1274	13	their	their	PRON
ftr-443	1274	14	shareholdings	shareholding	NOUN
ftr-443	1274	15	.	.	PUNCT
ftr-443	1274	16	"	"	PUNCT
ftr-443	1275	1	the	the	DET
ftr-443	1275	2	combined	combine	VERB
ftr-443	1275	3	effective	effective	ADJ
ftr-443	1275	4	federal	federal	ADJ
ftr-443	1275	5	rate	rate	NOUN
ftr-443	1275	6	may	may	AUX
ftr-443	1275	7	be	be	AUX
ftr-443	1275	8	as	as	ADV
ftr-443	1275	9	high	high	ADJ
ftr-443	1275	10	as	as	ADP
ftr-443	1275	11	48	48	NUM
ftr-443	1275	12	%	%	NOUN
ftr-443	1275	13	(	(	PUNCT
ftr-443	1275	14	corporate	corporate	ADJ
ftr-443	1275	15	tax	tax	NOUN
ftr-443	1275	16	of	of	ADP
ftr-443	1275	17	35	35	NUM
ftr-443	1275	18	%	%	NOUN
ftr-443	1275	19	,	,	PUNCT
ftr-443	1275	20	plus	plus	CCONJ
ftr-443	1275	21	shareholder	shareholder	NOUN
ftr-443	1275	22	capital	capital	NOUN
ftr-443	1275	23	gains	gain	VERB
ftr-443	1275	24	tax	tax	NOUN
ftr-443	1275	25	of	of	ADP
ftr-443	1275	26	20	20	NUM
ftr-443	1275	27	%	%	NOUN
ftr-443	1275	28	of	of	ADP
ftr-443	1275	29	65	65	NUM
ftr-443	1275	30	%	%	NOUN
ftr-443	1275	31	)	)	PUNCT
ftr-443	1275	32	.	.	PUNCT
ftr-443	1276	1	including	include	VERB
ftr-443	1276	2	state	state	NOUN
ftr-443	1276	3	taxes	taxis	NOUN
ftr-443	1276	4	,	,	PUNCT
ftr-443	1276	5	the	the	DET
ftr-443	1276	6	tax	tax	NOUN
ftr-443	1276	7	cost	cost	NOUN
ftr-443	1276	8	of	of	ADP
ftr-443	1276	9	a	a	DET
ftr-443	1276	10	liquidation	liquidation	NOUN
ftr-443	1276	11	can	can	AUX
ftr-443	1276	12	exceed	exceed	VERB
ftr-443	1276	13	60	60	NUM
ftr-443	1276	14	%	%	NOUN
ftr-443	1276	15	.	.	PUNCT
ftr-443	1277	1	because	because	SCONJ
ftr-443	1277	2	of	of	ADP
ftr-443	1277	3	this	this	DET
ftr-443	1277	4	lock	lock	NOUN
ftr-443	1277	5	-	-	PUNCT
ftr-443	1277	6	in	in	ADP
ftr-443	1277	7	problem	problem	NOUN
ftr-443	1277	8	,	,	PUNCT
ftr-443	1277	9	unincorporated	unincorporated	ADJ
ftr-443	1277	10	business	business	NOUN
ftr-443	1277	11	enterprises	enterprise	NOUN
ftr-443	1277	12	that	that	PRON
ftr-443	1277	13	have	have	AUX
ftr-443	1277	14	always	always	ADV
ftr-443	1277	15	been	be	AUX
ftr-443	1277	16	subject	subject	ADJ
ftr-443	1277	17	to	to	ADP
ftr-443	1277	18	subchapter	subchapter	NOUN
ftr-443	1277	19	k	k	PROPN
ftr-443	1277	20	enjoy	enjoy	VERB
ftr-443	1277	21	a	a	DET
ftr-443	1277	22	competitive	competitive	ADJ
ftr-443	1277	23	advantage	advantage	NOUN
ftr-443	1277	24	over	over	ADP
ftr-443	1277	25	incorporated	incorporate	VERB
ftr-443	1277	26	firms	firm	NOUN
ftr-443	1277	27	.	.	PUNCT
ftr-443	1278	1	the	the	DET
ftr-443	1278	2	older	old	ADJ
ftr-443	1278	3	the	the	DET
ftr-443	1278	4	corporation	corporation	NOUN
ftr-443	1278	5	,	,	PUNCT
ftr-443	1278	6	the	the	PRON
ftr-443	1278	7	greater	great	ADJ
ftr-443	1278	8	the	the	DET
ftr-443	1278	9	possibility	possibility	NOUN
ftr-443	1278	10	that	that	SCONJ
ftr-443	1278	11	it	it	PRON
ftr-443	1278	12	has	have	AUX
ftr-443	1278	13	a	a	DET
ftr-443	1278	14	successful	successful	ADJ
ftr-443	1278	15	track	track	NOUN
ftr-443	1278	16	record	record	NOUN
ftr-443	1278	17	,	,	PUNCT
ftr-443	1278	18	producing	produce	VERB
ftr-443	1278	19	substantial	substantial	ADJ
ftr-443	1278	20	appreciation	appreciation	NOUN
ftr-443	1278	21	in	in	ADP
ftr-443	1278	22	intangibles	intangible	NOUN
ftr-443	1278	23	,	,	PUNCT
ftr-443	1278	24	including	include	VERB
ftr-443	1278	25	goodwill	goodwill	NOUN
ftr-443	1278	26	and	and	CCONJ
ftr-443	1278	27	going	go	VERB
ftr-443	1278	28	concern	concern	NOUN
ftr-443	1278	29	value	value	NOUN
ftr-443	1278	30	,	,	PUNCT
ftr-443	1278	31	or	or	CCONJ
ftr-443	1278	32	assets	asset	NOUN
ftr-443	1278	33	such	such	ADJ
ftr-443	1278	34	as	as	ADP
ftr-443	1278	35	improved	improve	VERB
ftr-443	1278	36	real	real	ADJ
ftr-443	1278	37	estate	estate	NOUN
ftr-443	1278	38	.	.	PUNCT
ftr-443	1279	1	this	this	DET
ftr-443	1279	2	lockedin	lockedin	NOUN
ftr-443	1279	3	aspect	aspect	NOUN
ftr-443	1279	4	of	of	ADP
ftr-443	1279	5	operating	operate	VERB
ftr-443	1279	6	a	a	DET
ftr-443	1279	7	veteran	veteran	NOUN
ftr-443	1279	8	business	business	NOUN
ftr-443	1279	9	in	in	ADP
ftr-443	1279	10	corporate	corporate	ADJ
ftr-443	1279	11	solution	solution	NOUN
ftr-443	1279	12	hits	hit	VERB
ftr-443	1279	13	hardest	hard	ADV
ftr-443	1279	14	and	and	CCONJ
ftr-443	1279	15	most	most	ADV
ftr-443	1279	16	inequitably	inequitably	ADV
ftr-443	1279	17	on	on	ADP
ftr-443	1279	18	owners	owner	NOUN
ftr-443	1279	19	of	of	ADP
ftr-443	1279	20	closely	closely	ADV
ftr-443	1279	21	held	hold	VERB
ftr-443	1279	22	corporations	corporation	NOUN
ftr-443	1279	23	.	.	PUNCT
ftr-443	1280	1	the	the	DET
ftr-443	1280	2	only	only	ADJ
ftr-443	1280	3	viable	viable	ADJ
ftr-443	1280	4	escape	escape	NOUN
ftr-443	1280	5	route	route	NOUN
ftr-443	1280	6	is	be	AUX
ftr-443	1280	7	to	to	PART
ftr-443	1280	8	convert	convert	VERB
ftr-443	1280	9	to	to	PART
ftr-443	1280	10	subchapter	subchapter	VERB
ftr-443	1280	11	s.	s.	PROPN
ftr-443	1280	12	but	but	CCONJ
ftr-443	1280	13	as	as	SCONJ
ftr-443	1280	14	mentioned	mention	VERB
ftr-443	1280	15	,	,	PUNCT
ftr-443	1280	16	this	this	DET
ftr-443	1280	17	path	path	NOUN
ftr-443	1280	18	is	be	AUX
ftr-443	1280	19	often	often	ADV
ftr-443	1280	20	littered	litter	VERB
ftr-443	1280	21	with	with	ADP
ftr-443	1280	22	formidable	formidable	ADJ
ftr-443	1280	23	obstacles	obstacle	NOUN
ftr-443	1280	24	,	,	PUNCT
ftr-443	1280	25	including	include	VERB
ftr-443	1280	26	recapture	recapture	NOUN
ftr-443	1280	27	of	of	ADP
ftr-443	1280	28	the	the	DET
ftr-443	1280	29	spread	spread	NOUN
ftr-443	1280	30	between	between	ADP
ftr-443	1280	31	lifo	lifo	NOUN
ftr-443	1280	32	and	and	CCONJ
ftr-443	1280	33	fifo	fifo	ADJ
ftr-443	1280	34	inventory	inventory	NOUN
ftr-443	1280	35	,	,	PUNCT
ftr-443	1280	36	the	the	DET
ftr-443	1280	37	ten	ten	NUM
ftr-443	1280	38	-	-	PUNCT
ftr-443	1280	39	year	year	NOUN
ftr-443	1280	40	application	application	NOUN
ftr-443	1280	41	of	of	ADP
ftr-443	1280	42	section	section	NOUN
ftr-443	1280	43	1374	1374	NUM
ftr-443	1280	44	,	,	PUNCT
ftr-443	1280	45	or	or	CCONJ
ftr-443	1280	46	the	the	DET
ftr-443	1280	47	tax	tax	NOUN
ftr-443	1280	48	on	on	ADP
ftr-443	1280	49	excess	excess	ADJ
ftr-443	1280	50	passive	passive	ADJ
ftr-443	1280	51	investment	investment	NOUN
ftr-443	1280	52	income	income	NOUN
ftr-443	1280	53	.	.	PUNCT
ftr-443	1281	1	eligibility	eligibility	NOUN
ftr-443	1281	2	restrictions	restriction	NOUN
ftr-443	1281	3	must	must	AUX
ftr-443	1281	4	also	also	ADV
ftr-443	1281	5	be	be	AUX
ftr-443	1281	6	satisfied	satisfied	ADJ
ftr-443	1281	7	,	,	PUNCT
ftr-443	1281	8	perhaps	perhaps	ADV
ftr-443	1281	9	requiring	require	VERB
ftr-443	1281	10	preconversion	preconversion	NOUN
ftr-443	1281	11	redemption	redemption	NOUN
ftr-443	1281	12	of	of	ADP
ftr-443	1281	13	an	an	DET
ftr-443	1281	14	ineligible	ineligible	ADJ
ftr-443	1281	15	shareholder	shareholder	NOUN
ftr-443	1281	16	or	or	CCONJ
ftr-443	1281	17	repayment	repayment	NOUN
ftr-443	1281	18	of	of	ADP
ftr-443	1281	19	hybrid	hybrid	ADJ
ftr-443	1281	20	debt	debt	NOUN
ftr-443	1281	21	.	.	PUNCT
ftr-443	1282	1	the	the	DET
ftr-443	1282	2	cost	cost	NOUN
ftr-443	1282	3	associated	associate	VERB
ftr-443	1282	4	with	with	ADP
ftr-443	1282	5	a	a	DET
ftr-443	1282	6	c	c	NOUN
ftr-443	1282	7	to	to	PART
ftr-443	1282	8	s	s	PRON
ftr-443	1282	9	conversion	conversion	NOUN
ftr-443	1282	10	is	be	AUX
ftr-443	1282	11	frequently	frequently	ADV
ftr-443	1282	12	too	too	ADV
ftr-443	1282	13	high	high	ADJ
ftr-443	1282	14	.	.	PUNCT
ftr-443	1283	1	sophisticated	sophisticated	ADJ
ftr-443	1283	2	planning	planning	NOUN
ftr-443	1283	3	techniques	technique	NOUN
ftr-443	1283	4	have	have	AUX
ftr-443	1283	5	been	be	AUX
ftr-443	1283	6	offered	offer	VERB
ftr-443	1283	7	to	to	PART
ftr-443	1283	8	move	move	VERB
ftr-443	1283	9	around	around	ADP
ftr-443	1283	10	these	these	DET
ftr-443	1283	11	handicaps	handicap	NOUN
ftr-443	1283	12	.	.	PUNCT
ftr-443	1284	1	for	for	ADP
ftr-443	1284	2	example	example	NOUN
ftr-443	1284	3	,	,	PUNCT
ftr-443	1284	4	a	a	DET
ftr-443	1284	5	corporation	corporation	NOUN
ftr-443	1284	6	,	,	PUNCT
ftr-443	1284	7	c	c	NOUN
ftr-443	1284	8	or	or	CCONJ
ftr-443	1284	9	s	s	PROPN
ftr-443	1284	10	,	,	PUNCT
ftr-443	1284	11	faced	face	VERB
ftr-443	1284	12	with	with	ADP
ftr-443	1284	13	double	double	ADJ
ftr-443	1284	14	taxation	taxation	NOUN
ftr-443	1284	15	but	but	CCONJ
ftr-443	1284	16	hoping	hope	VERB
ftr-443	1284	17	to	to	PART
ftr-443	1284	18	benefit	benefit	VERB
ftr-443	1284	19	from	from	ADP
ftr-443	1284	20	subchapter	subchapter	NOUN
ftr-443	1284	21	k	k	PROPN
ftr-443	1284	22	,	,	PUNCT
ftr-443	1284	23	can	can	AUX
ftr-443	1284	24	contribute	contribute	VERB
ftr-443	1284	25	one	one	NUM
ftr-443	1284	26	or	or	CCONJ
ftr-443	1284	27	more	more	ADJ
ftr-443	1284	28	lines	line	NOUN
ftr-443	1284	29	of	of	ADP
ftr-443	1284	30	its	its	PRON
ftr-443	1284	31	business	business	NOUN
ftr-443	1284	32	to	to	ADP
ftr-443	1284	33	an	an	DET
ftr-443	1284	34	llc	llc	NOUN
ftr-443	1284	35	or	or	CCONJ
ftr-443	1284	36	lp	lp	ADP
ftr-443	1284	37	whose	whose	DET
ftr-443	1284	38	remaining	remain	VERB
ftr-443	1284	39	equity	equity	NOUN
ftr-443	1284	40	interests	interest	NOUN
ftr-443	1284	41	are	be	AUX
ftr-443	1284	42	held	hold	VERB
ftr-443	1284	43	by	by	ADP
ftr-443	1284	44	shareholders.2	shareholders.2	PROPN
ftr-443	1284	45	5	5	NUM
ftr-443	1284	46	the	the	DET
ftr-443	1284	47	corporation	corporation	NOUN
ftr-443	1284	48	receives	receive	VERB
ftr-443	1284	49	back	back	ADP
ftr-443	1284	50	a	a	DET
ftr-443	1284	51	preferred	preferred	ADJ
ftr-443	1284	52	interest	interest	NOUN
ftr-443	1284	53	with	with	ADP
ftr-443	1284	54	a	a	DET
ftr-443	1284	55	reasonable	reasonable	ADJ
ftr-443	1284	56	redemption	redemption	NOUN
ftr-443	1284	57	privilege	privilege	NOUN
ftr-443	1284	58	,	,	PUNCT
ftr-443	1284	59	while	while	SCONJ
ftr-443	1284	60	the	the	DET
ftr-443	1284	61	shareholder	shareholder	NOUN
ftr-443	1284	62	-	-	PUNCT
ftr-443	1284	63	partners	partner	NOUN
ftr-443	1284	64	receive	receive	VERB
ftr-443	1284	65	common	common	ADJ
ftr-443	1284	66	interests	interest	NOUN
ftr-443	1284	67	and	and	CCONJ
ftr-443	1284	68	are	be	AUX
ftr-443	1284	69	allocated	allocate	VERB
ftr-443	1284	70	the	the	DET
ftr-443	1284	71	growth.2	growth.2	NOUN
ftr-443	1284	72	"	"	PUNCT
ftr-443	1284	73	6	6	NUM
ftr-443	1284	74	the	the	DET
ftr-443	1284	75	partnership	partnership	NOUN
ftr-443	1284	76	contribution	contribution	NOUN
ftr-443	1284	77	transfer	transfer	NOUN
ftr-443	1284	78	is	be	AUX
ftr-443	1284	79	generally	generally	ADV
ftr-443	1284	80	nontaxable,2	nontaxable,2	ADJ
ftr-443	1284	81	"	"	PUNCT
ftr-443	1284	82	although	although	SCONJ
ftr-443	1284	83	section	section	NOUN
ftr-443	1284	84	704(c	704(c	PROPN
ftr-443	1284	85	)	)	PUNCT
ftr-443	1284	86	precludes	preclude	VERB
ftr-443	1284	87	shifting	shift	VERB
ftr-443	1284	88	precontribution	precontribution	NOUN
ftr-443	1284	89	gains	gain	NOUN
ftr-443	1284	90	and	and	CCONJ
ftr-443	1284	91	losses	loss	NOUN
ftr-443	1284	92	away	away	ADV
ftr-443	1284	93	from	from	ADP
ftr-443	1284	94	the	the	DET
ftr-443	1284	95	contributing	contribute	VERB
ftr-443	1284	96	partner	partner	NOUN
ftr-443	1284	97	.	.	PUNCT
ftr-443	1285	1	overall	overall	ADV
ftr-443	1285	2	,	,	PUNCT
ftr-443	1285	3	the	the	DET
ftr-443	1285	4	plan	plan	NOUN
ftr-443	1285	5	should	should	AUX
ftr-443	1285	6	not	not	PART
ftr-443	1285	7	be	be	AUX
ftr-443	1285	8	vulnerable	vulnerable	ADJ
ftr-443	1285	9	under	under	ADP
ftr-443	1285	10	the	the	DET
ftr-443	1285	11	partnership	partnership	NOUN
ftr-443	1285	12	antiabuse	antiabuse	PROPN
ftr-443	1285	13	rules.20	rules.20	PROPN
ftr-443	1285	14	another	another	DET
ftr-443	1285	15	method	method	NOUN
ftr-443	1285	16	for	for	ADP
ftr-443	1285	17	mitigating	mitigate	VERB
ftr-443	1285	18	the	the	DET
ftr-443	1285	19	second	second	ADJ
ftr-443	1285	20	round	round	NOUN
ftr-443	1285	21	of	of	ADP
ftr-443	1285	22	taxation	taxation	NOUN
ftr-443	1285	23	is	be	AUX
ftr-443	1285	24	to	to	PART
ftr-443	1285	25	find	find	VERB
ftr-443	1285	26	a	a	DET
ftr-443	1285	27	deductible	deductible	ADJ
ftr-443	1285	28	source	source	NOUN
ftr-443	1285	29	for	for	ADP
ftr-443	1285	30	making	make	VERB
ftr-443	1285	31	cash	cash	NOUN
ftr-443	1285	32	payments	payment	NOUN
ftr-443	1285	33	to	to	ADP
ftr-443	1285	34	shareholders	shareholder	NOUN
ftr-443	1285	35	,	,	PUNCT
ftr-443	1285	36	such	such	ADJ
ftr-443	1285	37	as	as	ADP
ftr-443	1285	38	204	204	NUM
ftr-443	1285	39	.	.	PUNCT
ftr-443	1286	1	irc	irc	PROPN
ftr-443	1286	2	§	§	PROPN
ftr-443	1286	3	§	§	PROPN
ftr-443	1286	4	331(a	331(a	NUM
ftr-443	1286	5	)	)	PUNCT
ftr-443	1286	6	,	,	PUNCT
ftr-443	1286	7	336(a	336(a	NUM
ftr-443	1286	8	)	)	PUNCT
ftr-443	1286	9	.	.	PUNCT
ftr-443	1287	1	section	section	NOUN
ftr-443	1287	2	336(d	336(d	PROPN
ftr-443	1287	3	)	)	PUNCT
ftr-443	1287	4	sets	set	VERB
ftr-443	1287	5	forth	forth	ADP
ftr-443	1287	6	exceptions	exception	NOUN
ftr-443	1287	7	to	to	PART
ftr-443	1287	8	loss	loss	NOUN
ftr-443	1287	9	recognition	recognition	NOUN
ftr-443	1287	10	,	,	PUNCT
ftr-443	1287	11	including	include	VERB
ftr-443	1287	12	anti	anti	ADJ
ftr-443	1287	13	-	-	ADJ
ftr-443	1287	14	stuffing	stuffing	ADJ
ftr-443	1287	15	rules	rule	NOUN
ftr-443	1287	16	.	.	PUNCT
ftr-443	1288	1	205	205	X
ftr-443	1288	2	.	.	PUNCT
ftr-443	1289	1	frequently	frequently	ADV
ftr-443	1289	2	such	such	ADJ
ftr-443	1289	3	transactions	transaction	NOUN
ftr-443	1289	4	are	be	AUX
ftr-443	1289	5	partially	partially	ADV
ftr-443	1289	6	motivated	motivate	VERB
ftr-443	1289	7	by	by	ADP
ftr-443	1289	8	estate	estate	NOUN
ftr-443	1289	9	planning	planning	NOUN
ftr-443	1289	10	concerns	concern	NOUN
ftr-443	1289	11	,	,	PUNCT
ftr-443	1289	12	such	such	ADJ
ftr-443	1289	13	as	as	ADP
ftr-443	1289	14	making	make	VERB
ftr-443	1289	15	gifts	gift	NOUN
ftr-443	1289	16	of	of	ADP
ftr-443	1289	17	the	the	DET
ftr-443	1289	18	limited	limited	ADJ
ftr-443	1289	19	partnership	partnership	NOUN
ftr-443	1289	20	or	or	CCONJ
ftr-443	1289	21	llc	llc	PROPN
ftr-443	1289	22	member	member	NOUN
ftr-443	1289	23	interests	interest	NOUN
ftr-443	1289	24	to	to	PART
ftr-443	1289	25	trusts	trust	NOUN
ftr-443	1289	26	for	for	ADP
ftr-443	1289	27	the	the	DET
ftr-443	1289	28	benefit	benefit	NOUN
ftr-443	1289	29	of	of	ADP
ftr-443	1289	30	children	child	NOUN
ftr-443	1289	31	or	or	CCONJ
ftr-443	1289	32	grandchildren	grandchild	NOUN
ftr-443	1289	33	.	.	PUNCT
ftr-443	1290	1	there	there	PRON
ftr-443	1290	2	is	be	VERB
ftr-443	1290	3	also	also	ADV
ftr-443	1290	4	the	the	DET
ftr-443	1290	5	sweetener	sweetener	NOUN
ftr-443	1290	6	of	of	ADP
ftr-443	1290	7	a	a	DET
ftr-443	1290	8	§	§	ADJ
ftr-443	1290	9	754	754	NUM
ftr-443	1290	10	election	election	NOUN
ftr-443	1290	11	to	to	PART
ftr-443	1290	12	step	step	VERB
ftr-443	1290	13	-	-	PUNCT
ftr-443	1290	14	up	up	ADP
ftr-443	1290	15	the	the	DET
ftr-443	1290	16	value	value	NOUN
ftr-443	1290	17	of	of	ADP
ftr-443	1290	18	any	any	DET
ftr-443	1290	19	retained	retain	VERB
ftr-443	1290	20	partnership	partnership	NOUN
ftr-443	1290	21	interests	interest	NOUN
ftr-443	1290	22	included	include	VERB
ftr-443	1290	23	in	in	ADP
ftr-443	1290	24	the	the	DET
ftr-443	1290	25	estate	estate	NOUN
ftr-443	1290	26	of	of	ADP
ftr-443	1290	27	a	a	DET
ftr-443	1290	28	deceased	deceased	ADJ
ftr-443	1290	29	partner	partner	NOUN
ftr-443	1290	30	(	(	PUNCT
ftr-443	1290	31	and	and	CCONJ
ftr-443	1290	32	shareholder	shareholder	NOUN
ftr-443	1290	33	)	)	PUNCT
ftr-443	1290	34	.	.	PUNCT
ftr-443	1291	1	donative	donative	ADJ
ftr-443	1291	2	transfers	transfer	NOUN
ftr-443	1291	3	of	of	ADP
ftr-443	1291	4	partnership	partnership	NOUN
ftr-443	1291	5	interests	interest	NOUN
ftr-443	1291	6	must	must	AUX
ftr-443	1291	7	also	also	ADV
ftr-443	1291	8	be	be	AUX
ftr-443	1291	9	placed	place	VERB
ftr-443	1291	10	under	under	ADP
ftr-443	1291	11	the	the	DET
ftr-443	1291	12	lens	lens	NOUN
ftr-443	1291	13	of	of	ADP
ftr-443	1291	14	the	the	DET
ftr-443	1291	15	family	family	NOUN
ftr-443	1291	16	partnership	partnership	NOUN
ftr-443	1291	17	rules	rule	NOUN
ftr-443	1291	18	of	of	ADP
ftr-443	1291	19	§	§	PROPN
ftr-443	1291	20	704(e	704(e	PROPN
ftr-443	1291	21	)	)	PUNCT
ftr-443	1291	22	.	.	PUNCT
ftr-443	1292	1	206	206	NUM
ftr-443	1292	2	.	.	PUNCT
ftr-443	1293	1	for	for	ADP
ftr-443	1293	2	controlled	control	VERB
ftr-443	1293	3	family	family	NOUN
ftr-443	1293	4	entities	entity	NOUN
ftr-443	1293	5	,	,	PUNCT
ftr-443	1293	6	the	the	DET
ftr-443	1293	7	chapter	chapter	NOUN
ftr-443	1293	8	14	14	NUM
ftr-443	1293	9	quartet	quartet	NOUN
ftr-443	1293	10	of	of	ADP
ftr-443	1293	11	valuation	valuation	NOUN
ftr-443	1293	12	rules	rule	NOUN
ftr-443	1293	13	for	for	ADP
ftr-443	1293	14	transfer	transfer	NOUN
ftr-443	1293	15	tax	tax	NOUN
ftr-443	1293	16	purposes	purpose	NOUN
ftr-443	1293	17	must	must	AUX
ftr-443	1293	18	be	be	AUX
ftr-443	1293	19	consulted	consult	VERB
ftr-443	1293	20	.	.	PUNCT
ftr-443	1294	1	207	207	NUM
ftr-443	1294	2	.	.	PUNCT
ftr-443	1295	1	see	see	VERB
ftr-443	1295	2	irc	irc	PROPN
ftr-443	1295	3	§	§	PROPN
ftr-443	1295	4	721(a	721(a	PROPN
ftr-443	1295	5	)	)	PUNCT
ftr-443	1295	6	.	.	PUNCT
ftr-443	1296	1	but	but	CCONJ
ftr-443	1296	2	see	see	VERB
ftr-443	1296	3	irc	irc	ADV
ftr-443	1296	4	§	§	PROPN
ftr-443	1296	5	§	§	PROPN
ftr-443	1296	6	707(c	707(c	PROPN
ftr-443	1296	7	)	)	PUNCT
ftr-443	1296	8	,	,	PUNCT
ftr-443	1296	9	731	731	NUM
ftr-443	1296	10	,	,	PUNCT
ftr-443	1296	11	751(b	751(b	NOUN
ftr-443	1296	12	)	)	PUNCT
ftr-443	1296	13	.	.	PUNCT
ftr-443	1297	1	208	208	NUM
ftr-443	1297	2	.	.	PUNCT
ftr-443	1298	1	see	see	VERB
ftr-443	1298	2	regs	reg	NOUN
ftr-443	1298	3	.	.	PUNCT
ftr-443	1299	1	§	§	PROPN
ftr-443	1299	2	1.701	1.701	NUM
ftr-443	1299	3	-	-	SYM
ftr-443	1299	4	2	2	NUM
ftr-443	1299	5	.	.	PUNCT
ftr-443	1300	1	[	[	X
ftr-443	1300	2	vol	vol	NOUN
ftr-443	1300	3	.	.	PUNCT
ftr-443	1301	1	4.3	4.3	NUM
ftr-443	1301	2	benefits	benefit	NOUN
ftr-443	1301	3	and	and	CCONJ
ftr-443	1301	4	burdens	burden	NOUN
ftr-443	1301	5	of	of	ADP
ftr-443	1301	6	subchapter	subchapter	NOUN
ftr-443	1301	7	s	s	PART
ftr-443	1301	8	bonuses	bonus	NOUN
ftr-443	1301	9	,	,	PUNCT
ftr-443	1301	10	deferred	deferred	ADJ
ftr-443	1301	11	compensation	compensation	NOUN
ftr-443	1301	12	,	,	PUNCT
ftr-443	1301	13	or	or	CCONJ
ftr-443	1301	14	the	the	DET
ftr-443	1301	15	leasing	leasing	NOUN
ftr-443	1301	16	of	of	ADP
ftr-443	1301	17	real	real	ADJ
ftr-443	1301	18	or	or	CCONJ
ftr-443	1301	19	personal	personal	ADJ
ftr-443	1301	20	property.2	property.2	NOUN
ftr-443	1301	21	'	'	PUNCT
ftr-443	1301	22	a	a	DET
ftr-443	1301	23	third	third	ADJ
ftr-443	1301	24	option	option	NOUN
ftr-443	1301	25	is	be	AUX
ftr-443	1301	26	to	to	PART
ftr-443	1301	27	sell	sell	VERB
ftr-443	1301	28	the	the	DET
ftr-443	1301	29	corporation	corporation	NOUN
ftr-443	1301	30	's	's	PART
ftr-443	1301	31	assets	asset	NOUN
ftr-443	1301	32	to	to	ADP
ftr-443	1301	33	an	an	DET
ftr-443	1301	34	llc	llc	NOUN
ftr-443	1301	35	or	or	CCONJ
ftr-443	1301	36	lp	lp	NOUN
ftr-443	1301	37	comprised	comprise	VERB
ftr-443	1301	38	of	of	ADP
ftr-443	1301	39	the	the	DET
ftr-443	1301	40	shareholders	shareholder	NOUN
ftr-443	1301	41	.	.	PUNCT
ftr-443	1302	1	the	the	DET
ftr-443	1302	2	transaction	transaction	NOUN
ftr-443	1302	3	may	may	AUX
ftr-443	1302	4	be	be	AUX
ftr-443	1302	5	structured	structure	VERB
ftr-443	1302	6	as	as	ADP
ftr-443	1302	7	an	an	DET
ftr-443	1302	8	installment	installment	NOUN
ftr-443	1302	9	sale	sale	NOUN
ftr-443	1302	10	in	in	ADP
ftr-443	1302	11	order	order	NOUN
ftr-443	1302	12	to	to	PART
ftr-443	1302	13	defer	defer	VERB
ftr-443	1302	14	the	the	DET
ftr-443	1302	15	corporate	corporate	ADJ
ftr-443	1302	16	tax	tax	NOUN
ftr-443	1302	17	,	,	PUNCT
ftr-443	1302	18	but	but	CCONJ
ftr-443	1302	19	the	the	DET
ftr-443	1302	20	parties	party	NOUN
ftr-443	1302	21	'	'	PART
ftr-443	1302	22	expectations	expectation	NOUN
ftr-443	1302	23	are	be	AUX
ftr-443	1302	24	often	often	ADV
ftr-443	1302	25	frustrated	frustrate	VERB
ftr-443	1302	26	by	by	ADP
ftr-443	1302	27	various	various	ADJ
ftr-443	1302	28	statutory	statutory	ADJ
ftr-443	1302	29	tools	tool	NOUN
ftr-443	1302	30	available	available	ADJ
ftr-443	1302	31	to	to	ADP
ftr-443	1302	32	the	the	DET
ftr-443	1302	33	service.10	service.10	NOUN
ftr-443	1302	34	a	a	DET
ftr-443	1302	35	more	more	ADV
ftr-443	1302	36	daring	daring	ADJ
ftr-443	1302	37	and	and	CCONJ
ftr-443	1302	38	risky	risky	ADJ
ftr-443	1302	39	approach	approach	NOUN
ftr-443	1302	40	is	be	AUX
ftr-443	1302	41	to	to	PART
ftr-443	1302	42	form	form	VERB
ftr-443	1302	43	a	a	DET
ftr-443	1302	44	new	new	ADJ
ftr-443	1302	45	entity	entity	NOUN
ftr-443	1302	46	as	as	ADP
ftr-443	1302	47	an	an	DET
ftr-443	1302	48	llc	llc	NOUN
ftr-443	1302	49	or	or	CCONJ
ftr-443	1302	50	lp	lp	NOUN
ftr-443	1302	51	and	and	CCONJ
ftr-443	1302	52	shift	shift	VERB
ftr-443	1302	53	future	future	ADJ
ftr-443	1302	54	business	business	NOUN
ftr-443	1302	55	opportunities	opportunity	NOUN
ftr-443	1302	56	to	to	ADP
ftr-443	1302	57	it	it	PRON
ftr-443	1302	58	while	while	SCONJ
ftr-443	1302	59	phasing	phase	VERB
ftr-443	1302	60	down	down	ADP
ftr-443	1302	61	the	the	DET
ftr-443	1302	62	corporation	corporation	NOUN
ftr-443	1302	63	's	's	PART
ftr-443	1302	64	business	business	NOUN
ftr-443	1302	65	operations	operation	NOUN
ftr-443	1302	66	.	.	PUNCT
ftr-443	1303	1	the	the	DET
ftr-443	1303	2	latter	latter	ADJ
ftr-443	1303	3	technique	technique	NOUN
ftr-443	1303	4	is	be	AUX
ftr-443	1303	5	burdened	burden	VERB
ftr-443	1303	6	by	by	ADP
ftr-443	1303	7	a	a	DET
ftr-443	1303	8	risk	risk	NOUN
ftr-443	1303	9	that	that	SCONJ
ftr-443	1303	10	the	the	DET
ftr-443	1303	11	steps	step	NOUN
ftr-443	1303	12	will	will	AUX
ftr-443	1303	13	be	be	AUX
ftr-443	1303	14	collapsed	collapse	VERB
ftr-443	1303	15	and	and	CCONJ
ftr-443	1303	16	treated	treat	VERB
ftr-443	1303	17	as	as	ADP
ftr-443	1303	18	a	a	DET
ftr-443	1303	19	deemed	deemed	ADJ
ftr-443	1303	20	distribution	distribution	NOUN
ftr-443	1303	21	of	of	ADP
ftr-443	1303	22	intangibles	intangible	NOUN
ftr-443	1303	23	to	to	ADP
ftr-443	1303	24	the	the	DET
ftr-443	1303	25	shareholders	shareholder	NOUN
ftr-443	1303	26	.	.	PUNCT
ftr-443	1304	1	"	"	PUNCT
ftr-443	1304	2	'	'	PUNCT
ftr-443	1304	3	notwithstanding	notwithstanding	ADP
ftr-443	1304	4	the	the	DET
ftr-443	1304	5	possible	possible	ADJ
ftr-443	1304	6	methods	method	NOUN
ftr-443	1304	7	for	for	ADP
ftr-443	1304	8	limiting	limit	VERB
ftr-443	1304	9	the	the	DET
ftr-443	1304	10	impact	impact	NOUN
ftr-443	1304	11	of	of	ADP
ftr-443	1304	12	double	double	ADJ
ftr-443	1304	13	taxation	taxation	NOUN
ftr-443	1304	14	prospectively	prospectively	ADV
ftr-443	1304	15	,	,	PUNCT
ftr-443	1304	16	one	one	PRON
ftr-443	1304	17	may	may	AUX
ftr-443	1304	18	ponder	ponder	VERB
ftr-443	1304	19	why	why	SCONJ
ftr-443	1304	20	subchapter	subchapter	NOUN
ftr-443	1304	21	s	s	PART
ftr-443	1304	22	has	have	AUX
ftr-443	1304	23	not	not	PART
ftr-443	1304	24	been	be	AUX
ftr-443	1304	25	given	give	VERB
ftr-443	1304	26	equal	equal	ADJ
ftr-443	1304	27	treatment	treatment	NOUN
ftr-443	1304	28	with	with	ADP
ftr-443	1304	29	partnerships	partnership	NOUN
ftr-443	1304	30	.	.	PUNCT
ftr-443	1305	1	moreover	moreover	ADV
ftr-443	1305	2	,	,	PUNCT
ftr-443	1305	3	if	if	SCONJ
ftr-443	1305	4	all	all	DET
ftr-443	1305	5	pbfs	pbfs	NOUN
ftr-443	1305	6	are	be	AUX
ftr-443	1305	7	to	to	PART
ftr-443	1305	8	be	be	AUX
ftr-443	1305	9	taxed	tax	VERB
ftr-443	1305	10	under	under	ADP
ftr-443	1305	11	subchapter	subchapter	NOUN
ftr-443	1305	12	k	k	PROPN
ftr-443	1305	13	,	,	PUNCT
ftr-443	1305	14	a	a	DET
ftr-443	1305	15	c	c	NOUN
ftr-443	1305	16	to	to	ADP
ftr-443	1305	17	k	k	PROPN
ftr-443	1305	18	or	or	CCONJ
ftr-443	1305	19	s	s	X
ftr-443	1305	20	to	to	ADP
ftr-443	1305	21	k	k	PROPN
ftr-443	1305	22	conversion	conversion	NOUN
ftr-443	1305	23	should	should	AUX
ftr-443	1305	24	be	be	AUX
ftr-443	1305	25	allowed	allow	VERB
ftr-443	1305	26	at	at	ADP
ftr-443	1305	27	a	a	DET
ftr-443	1305	28	reasonable	reasonable	ADJ
ftr-443	1305	29	cost	cost	NOUN
ftr-443	1305	30	.	.	PUNCT
ftr-443	1306	1	such	such	ADJ
ftr-443	1306	2	cost	cost	NOUN
ftr-443	1306	3	should	should	AUX
ftr-443	1306	4	not	not	PART
ftr-443	1306	5	be	be	AUX
ftr-443	1306	6	a	a	DET
ftr-443	1306	7	full	full	ADJ
ftr-443	1306	8	round	round	NOUN
ftr-443	1306	9	of	of	ADP
ftr-443	1306	10	double	double	ADJ
ftr-443	1306	11	taxation	taxation	NOUN
ftr-443	1306	12	,	,	PUNCT
ftr-443	1306	13	which	which	PRON
ftr-443	1306	14	may	may	AUX
ftr-443	1306	15	approach	approach	VERB
ftr-443	1306	16	or	or	CCONJ
ftr-443	1306	17	exceed	exceed	VERB
ftr-443	1306	18	50	50	NUM
ftr-443	1306	19	%	%	NOUN
ftr-443	1306	20	of	of	ADP
ftr-443	1306	21	the	the	DET
ftr-443	1306	22	value	value	NOUN
ftr-443	1306	23	of	of	ADP
ftr-443	1306	24	its	its	PRON
ftr-443	1306	25	equity	equity	NOUN
ftr-443	1306	26	.	.	PUNCT
ftr-443	1307	1	b.	b.	PROPN
ftr-443	1308	1	further	further	ADJ
ftr-443	1308	2	reforms	reform	NOUN
ftr-443	1308	3	to	to	PART
ftr-443	1308	4	subchapter	subchapter	NOUN
ftr-443	1308	5	s	s	PRON
ftr-443	1308	6	until	until	SCONJ
ftr-443	1308	7	we	we	PRON
ftr-443	1308	8	adopt	adopt	VERB
ftr-443	1308	9	a	a	DET
ftr-443	1308	10	single	single	ADJ
ftr-443	1308	11	system	system	NOUN
ftr-443	1308	12	of	of	ADP
ftr-443	1308	13	taxation	taxation	NOUN
ftr-443	1308	14	for	for	ADP
ftr-443	1308	15	private	private	ADJ
ftr-443	1308	16	business	business	NOUN
ftr-443	1308	17	enterprises	enterprise	NOUN
ftr-443	1308	18	,	,	PUNCT
ftr-443	1308	19	which	which	PRON
ftr-443	1308	20	,	,	PUNCT
ftr-443	1308	21	as	as	SCONJ
ftr-443	1308	22	suggested	suggest	VERB
ftr-443	1308	23	above	above	ADV
ftr-443	1308	24	,	,	PUNCT
ftr-443	1308	25	should	should	AUX
ftr-443	1308	26	carry	carry	VERB
ftr-443	1308	27	with	with	ADP
ftr-443	1308	28	it	it	PRON
ftr-443	1308	29	liberal	liberal	ADJ
ftr-443	1308	30	transitional	transitional	ADJ
ftr-443	1308	31	relief	relief	NOUN
ftr-443	1308	32	for	for	ADP
ftr-443	1308	33	owners	owner	NOUN
ftr-443	1308	34	of	of	ADP
ftr-443	1308	35	c	c	PROPN
ftr-443	1308	36	and	and	CCONJ
ftr-443	1308	37	s	s	PROPN
ftr-443	1308	38	corporations	corporation	NOUN
ftr-443	1308	39	,	,	PUNCT
ftr-443	1308	40	the	the	DET
ftr-443	1308	41	disadvantages	disadvantage	NOUN
ftr-443	1308	42	that	that	PRON
ftr-443	1308	43	s	s	VERB
ftr-443	1308	44	corporations	corporation	NOUN
ftr-443	1308	45	face	face	VERB
ftr-443	1308	46	versus	versus	SCONJ
ftr-443	1308	47	their	their	PRON
ftr-443	1308	48	partnership	partnership	NOUN
ftr-443	1308	49	counterparts	counterpart	NOUN
ftr-443	1308	50	should	should	AUX
ftr-443	1308	51	be	be	AUX
ftr-443	1308	52	alleviated	alleviate	VERB
ftr-443	1308	53	.	.	PUNCT
ftr-443	1309	1	five	five	NUM
ftr-443	1309	2	reforms	reform	NOUN
ftr-443	1309	3	are	be	AUX
ftr-443	1309	4	suggested	suggest	VERB
ftr-443	1309	5	below	below	ADP
ftr-443	1309	6	that	that	PRON
ftr-443	1309	7	would	would	AUX
ftr-443	1309	8	produce	produce	VERB
ftr-443	1309	9	a	a	DET
ftr-443	1309	10	more	more	ADV
ftr-443	1309	11	equitable	equitable	ADJ
ftr-443	1309	12	system	system	NOUN
ftr-443	1309	13	of	of	ADP
ftr-443	1309	14	passthrough	passthrough	NOUN
ftr-443	1309	15	taxation	taxation	NOUN
ftr-443	1309	16	for	for	ADP
ftr-443	1309	17	owners	owner	NOUN
ftr-443	1309	18	of	of	ADP
ftr-443	1309	19	incorporated	incorporated	ADJ
ftr-443	1309	20	and	and	CCONJ
ftr-443	1309	21	unincorporated	unincorporated	ADJ
ftr-443	1309	22	pbfs	pbfs	NOUN
ftr-443	1309	23	.	.	PUNCT
ftr-443	1310	1	1	1	X
ftr-443	1310	2	.	.	X
ftr-443	1310	3	reform	reform	NOUN
ftr-443	1310	4	i	i	PRON
ftr-443	1310	5	:	:	PUNCT
ftr-443	1310	6	allow	allow	VERB
ftr-443	1310	7	nonresident	nonresident	ADJ
ftr-443	1310	8	aliens	alien	NOUN
ftr-443	1310	9	to	to	PART
ftr-443	1310	10	be	be	AUX
ftr-443	1310	11	shareholders	shareholder	NOUN
ftr-443	1310	12	of	of	ADP
ftr-443	1310	13	an	an	DET
ftr-443	1310	14	s	s	NOUN
ftr-443	1310	15	corporation.--given	corporation.--given	PRON
ftr-443	1310	16	our	our	PRON
ftr-443	1310	17	global	global	ADJ
ftr-443	1310	18	economy	economy	NOUN
ftr-443	1310	19	and	and	CCONJ
ftr-443	1310	20	existing	exist	VERB
ftr-443	1310	21	structure	structure	NOUN
ftr-443	1310	22	of	of	ADP
ftr-443	1310	23	permitting	permit	VERB
ftr-443	1310	24	nonresidents	nonresident	NOUN
ftr-443	1310	25	to	to	PART
ftr-443	1310	26	be	be	AUX
ftr-443	1310	27	partners	partner	NOUN
ftr-443	1310	28	in	in	ADP
ftr-443	1310	29	partnerships	partnership	NOUN
ftr-443	1310	30	,	,	PUNCT
ftr-443	1310	31	subject	subject	ADJ
ftr-443	1310	32	to	to	ADP
ftr-443	1310	33	applicable	applicable	ADJ
ftr-443	1310	34	withholding	withholding	NOUN
ftr-443	1310	35	209	209	NUM
ftr-443	1310	36	.	.	PUNCT
ftr-443	1311	1	in	in	ADP
ftr-443	1311	2	order	order	NOUN
ftr-443	1311	3	to	to	PART
ftr-443	1311	4	be	be	AUX
ftr-443	1311	5	deductible	deductible	ADJ
ftr-443	1311	6	,	,	PUNCT
ftr-443	1311	7	such	such	ADJ
ftr-443	1311	8	payments	payment	NOUN
ftr-443	1311	9	must	must	AUX
ftr-443	1311	10	be	be	AUX
ftr-443	1311	11	ordinary	ordinary	ADJ
ftr-443	1311	12	and	and	CCONJ
ftr-443	1311	13	necessary	necessary	ADJ
ftr-443	1311	14	and	and	CCONJ
ftr-443	1311	15	reasonable	reasonable	ADJ
ftr-443	1311	16	in	in	ADP
ftr-443	1311	17	amount	amount	NOUN
ftr-443	1311	18	.	.	PUNCT
ftr-443	1312	1	see	see	VERB
ftr-443	1312	2	irc	irc	PROPN
ftr-443	1312	3	§	§	PROPN
ftr-443	1312	4	162(a	162(a	PROPN
ftr-443	1312	5	)	)	PUNCT
ftr-443	1312	6	;	;	PUNCT
ftr-443	1312	7	see	see	VERB
ftr-443	1312	8	also	also	ADV
ftr-443	1312	9	irc	irc	ADP
ftr-443	1312	10	§	§	PROPN
ftr-443	1312	11	§	§	PROPN
ftr-443	1312	12	263	263	NUM
ftr-443	1312	13	,	,	PUNCT
ftr-443	1312	14	263a	263a	PROPN
ftr-443	1312	15	.	.	PUNCT
ftr-443	1313	1	210	210	NUM
ftr-443	1313	2	.	.	PUNCT
ftr-443	1314	1	see	see	VERB
ftr-443	1314	2	irc	irc	PROPN
ftr-443	1314	3	§	§	PROPN
ftr-443	1314	4	56(c	56(c	NUM
ftr-443	1314	5	)	)	PUNCT
ftr-443	1314	6	(	(	PUNCT
ftr-443	1314	7	corporate	corporate	ADJ
ftr-443	1314	8	alternative	alternative	ADJ
ftr-443	1314	9	minimum	minimum	ADJ
ftr-443	1314	10	tax	tax	NOUN
ftr-443	1314	11	on	on	ADP
ftr-443	1314	12	increase	increase	NOUN
ftr-443	1314	13	in	in	ADP
ftr-443	1314	14	adjusted	adjusted	ADJ
ftr-443	1314	15	earnings	earning	NOUN
ftr-443	1314	16	and	and	CCONJ
ftr-443	1314	17	profits	profit	NOUN
ftr-443	1314	18	)	)	PUNCT
ftr-443	1314	19	;	;	PUNCT
ftr-443	1314	20	§	§	PROPN
ftr-443	1314	21	168(f)(5	168(f)(5	NUM
ftr-443	1314	22	)	)	PUNCT
ftr-443	1314	23	(	(	PUNCT
ftr-443	1314	24	antichuming	antichume	VERB
ftr-443	1314	25	rule	rule	NOUN
ftr-443	1314	26	for	for	ADP
ftr-443	1314	27	depreciation	depreciation	NOUN
ftr-443	1314	28	)	)	PUNCT
ftr-443	1314	29	;	;	PUNCT
ftr-443	1314	30	§	§	PROPN
ftr-443	1314	31	197(f)(9	197(f)(9	NUM
ftr-443	1314	32	)	)	PUNCT
ftr-443	1314	33	(	(	PUNCT
ftr-443	1314	34	antichurning	antichurne	VERB
ftr-443	1314	35	rule	rule	NOUN
ftr-443	1314	36	for	for	ADP
ftr-443	1314	37	intangibles	intangible	NOUN
ftr-443	1314	38	amortization	amortization	NOUN
ftr-443	1314	39	)	)	PUNCT
ftr-443	1314	40	;	;	PUNCT
ftr-443	1314	41	§	§	PROPN
ftr-443	1314	42	304(a)(1	304(a)(1	NUM
ftr-443	1314	43	)	)	PUNCT
ftr-443	1314	44	(	(	PUNCT
ftr-443	1314	45	purchase	purchase	NOUN
ftr-443	1314	46	of	of	ADP
ftr-443	1314	47	stock	stock	NOUN
ftr-443	1314	48	by	by	ADP
ftr-443	1314	49	related	related	ADJ
ftr-443	1314	50	corporation	corporation	NOUN
ftr-443	1314	51	taxable	taxable	ADJ
ftr-443	1314	52	as	as	ADP
ftr-443	1314	53	a	a	DET
ftr-443	1314	54	dividend	dividend	NOUN
ftr-443	1314	55	)	)	PUNCT
ftr-443	1314	56	;	;	PUNCT
ftr-443	1314	57	§	§	PROPN
ftr-443	1314	58	312(n)(5	312(n)(5	NUM
ftr-443	1314	59	)	)	PUNCT
ftr-443	1314	60	(	(	PUNCT
ftr-443	1314	61	installment	installment	NOUN
ftr-443	1314	62	sale	sale	NOUN
ftr-443	1314	63	gain	gain	NOUN
ftr-443	1314	64	included	include	VERB
ftr-443	1314	65	in	in	ADP
ftr-443	1314	66	earnings	earning	NOUN
ftr-443	1314	67	and	and	CCONJ
ftr-443	1314	68	profits	profit	NOUN
ftr-443	1314	69	for	for	ADP
ftr-443	1314	70	year	year	NOUN
ftr-443	1314	71	of	of	ADP
ftr-443	1314	72	sale	sale	NOUN
ftr-443	1314	73	)	)	PUNCT
ftr-443	1314	74	;	;	PUNCT
ftr-443	1314	75	368(a)(1)(f	368(a)(1)(f	NUM
ftr-443	1314	76	)	)	PUNCT
ftr-443	1314	77	(	(	PUNCT
ftr-443	1314	78	mere	mere	ADJ
ftr-443	1314	79	change	change	NOUN
ftr-443	1314	80	in	in	ADP
ftr-443	1314	81	identity	identity	NOUN
ftr-443	1314	82	,	,	PUNCT
ftr-443	1314	83	form	form	NOUN
ftr-443	1314	84	,	,	PUNCT
ftr-443	1314	85	or	or	CCONJ
ftr-443	1314	86	place	place	NOUN
ftr-443	1314	87	of	of	ADP
ftr-443	1314	88	organization	organization	NOUN
ftr-443	1314	89	of	of	ADP
ftr-443	1314	90	one	one	NUM
ftr-443	1314	91	corporation	corporation	NOUN
ftr-443	1314	92	is	be	AUX
ftr-443	1314	93	a	a	DET
ftr-443	1314	94	reorganization	reorganization	NOUN
ftr-443	1314	95	)	)	PUNCT
ftr-443	1314	96	;	;	PUNCT
ftr-443	1314	97	§	§	PROPN
ftr-443	1314	98	446(b	446(b	PROPN
ftr-443	1314	99	)	)	PUNCT
ftr-443	1314	100	(	(	PUNCT
ftr-443	1314	101	service	service	NOUN
ftr-443	1314	102	's	's	PART
ftr-443	1314	103	power	power	NOUN
ftr-443	1314	104	to	to	PART
ftr-443	1314	105	require	require	VERB
ftr-443	1314	106	adjustments	adjustment	NOUN
ftr-443	1314	107	to	to	PART
ftr-443	1314	108	clearly	clearly	ADV
ftr-443	1314	109	reflect	reflect	VERB
ftr-443	1314	110	income	income	NOUN
ftr-443	1314	111	)	)	PUNCT
ftr-443	1314	112	;	;	PUNCT
ftr-443	1314	113	§	§	PROPN
ftr-443	1314	114	453(e	453(e	PROPN
ftr-443	1314	115	)	)	PUNCT
ftr-443	1314	116	(	(	PUNCT
ftr-443	1314	117	acceleration	acceleration	NOUN
ftr-443	1314	118	of	of	ADP
ftr-443	1314	119	installment	installment	NOUN
ftr-443	1314	120	obligation	obligation	NOUN
ftr-443	1314	121	on	on	ADP
ftr-443	1314	122	second	second	ADJ
ftr-443	1314	123	disposition	disposition	NOUN
ftr-443	1314	124	of	of	ADP
ftr-443	1314	125	purchased	purchase	VERB
ftr-443	1314	126	property	property	NOUN
ftr-443	1314	127	by	by	ADP
ftr-443	1314	128	related	related	ADJ
ftr-443	1314	129	person	person	NOUN
ftr-443	1314	130	-	-	PUNCT
ftr-443	1314	131	buyer	buyer	NOUN
ftr-443	1314	132	)	)	PUNCT
ftr-443	1314	133	;	;	PUNCT
ftr-443	1314	134	§	§	PROPN
ftr-443	1314	135	453(g	453(g	PROPN
ftr-443	1314	136	)	)	PUNCT
ftr-443	1314	137	(	(	PUNCT
ftr-443	1314	138	denial	denial	NOUN
ftr-443	1314	139	of	of	ADP
ftr-443	1314	140	installment	installment	NOUN
ftr-443	1314	141	sale	sale	NOUN
ftr-443	1314	142	treatment	treatment	NOUN
ftr-443	1314	143	of	of	ADP
ftr-443	1314	144	depreciable	depreciable	ADJ
ftr-443	1314	145	property	property	NOUN
ftr-443	1314	146	by	by	ADP
ftr-443	1314	147	related	related	ADJ
ftr-443	1314	148	persons	person	NOUN
ftr-443	1314	149	unless	unless	SCONJ
ftr-443	1314	150	tax	tax	NOUN
ftr-443	1314	151	avoidance	avoidance	NOUN
ftr-443	1314	152	is	be	AUX
ftr-443	1314	153	not	not	PART
ftr-443	1314	154	one	one	NUM
ftr-443	1314	155	of	of	ADP
ftr-443	1314	156	the	the	DET
ftr-443	1314	157	principal	principal	ADJ
ftr-443	1314	158	purposes	purpose	NOUN
ftr-443	1314	159	of	of	ADP
ftr-443	1314	160	the	the	DET
ftr-443	1314	161	transaction	transaction	NOUN
ftr-443	1314	162	)	)	PUNCT
ftr-443	1314	163	;	;	PUNCT
ftr-443	1314	164	§	§	PROPN
ftr-443	1314	165	482	482	NUM
ftr-443	1314	166	(	(	PUNCT
ftr-443	1314	167	reallocation	reallocation	NOUN
ftr-443	1314	168	of	of	ADP
ftr-443	1314	169	items	item	NOUN
ftr-443	1314	170	between	between	ADP
ftr-443	1314	171	commonly	commonly	ADV
ftr-443	1314	172	controlled	control	VERB
ftr-443	1314	173	trades	trade	NOUN
ftr-443	1314	174	or	or	CCONJ
ftr-443	1314	175	businesses	business	NOUN
ftr-443	1314	176	)	)	PUNCT
ftr-443	1314	177	;	;	PUNCT
ftr-443	1314	178	§	§	PROPN
ftr-443	1314	179	1239(a	1239(a	NUM
ftr-443	1314	180	)	)	PUNCT
ftr-443	1314	181	(	(	PUNCT
ftr-443	1314	182	recharacterization	recharacterization	NOUN
ftr-443	1314	183	of	of	ADP
ftr-443	1314	184	gain	gain	NOUN
ftr-443	1314	185	from	from	ADP
ftr-443	1314	186	any	any	DET
ftr-443	1314	187	depreciable	depreciable	ADJ
ftr-443	1314	188	asset	asset	NOUN
ftr-443	1314	189	as	as	ADP
ftr-443	1314	190	ordinary	ordinary	ADJ
ftr-443	1314	191	)	)	PUNCT
ftr-443	1314	192	.	.	PUNCT
ftr-443	1315	1	211	211	NUM
ftr-443	1315	2	.	.	PUNCT
ftr-443	1316	1	see	see	VERB
ftr-443	1316	2	gregory	gregory	PROPN
ftr-443	1316	3	v.	v.	ADP
ftr-443	1316	4	helvering	helvering	PROPN
ftr-443	1316	5	,	,	PUNCT
ftr-443	1316	6	293	293	NUM
ftr-443	1316	7	u.s	u.s	PROPN
ftr-443	1316	8	.	.	PROPN
ftr-443	1316	9	465	465	NUM
ftr-443	1316	10	(	(	PUNCT
ftr-443	1316	11	1935	1935	NUM
ftr-443	1316	12	)	)	PUNCT
ftr-443	1316	13	.	.	PUNCT
ftr-443	1317	1	19991	19991	NUM
ftr-443	1317	2	florida	florida	PROPN
ftr-443	1317	3	tax	tax	NOUN
ftr-443	1317	4	review	review	NOUN
ftr-443	1317	5	under	under	ADP
ftr-443	1317	6	section	section	NOUN
ftr-443	1317	7	1446	1446	NUM
ftr-443	1317	8	,	,	PUNCT
ftr-443	1317	9	it	it	PRON
ftr-443	1317	10	is	be	AUX
ftr-443	1317	11	long	long	ADV
ftr-443	1317	12	overdue	overdue	ADJ
ftr-443	1317	13	that	that	SCONJ
ftr-443	1317	14	nonresident	nonresident	ADJ
ftr-443	1317	15	aliens	alien	NOUN
ftr-443	1317	16	should	should	AUX
ftr-443	1317	17	be	be	AUX
ftr-443	1317	18	entitled	entitle	VERB
ftr-443	1317	19	to	to	PART
ftr-443	1317	20	own	own	VERB
ftr-443	1317	21	stock	stock	NOUN
ftr-443	1317	22	interests	interest	NOUN
ftr-443	1317	23	in	in	ADP
ftr-443	1317	24	an	an	DET
ftr-443	1317	25	s	s	NOUN
ftr-443	1317	26	corporation.21	corporation.21	ADJ
ftr-443	1317	27	2	2	NUM
ftr-443	1317	28	.	.	PUNCT
ftr-443	1317	29	reform	reform	PROPN
ftr-443	1317	30	ii	ii	PROPN
ftr-443	1317	31	:	:	PUNCT
ftr-443	1317	32	allow	allow	VERB
ftr-443	1317	33	an	an	DET
ftr-443	1317	34	s	s	NOUN
ftr-443	1317	35	corporation	corporation	NOUN
ftr-443	1317	36	to	to	PART
ftr-443	1317	37	issue	issue	VERB
ftr-443	1317	38	plain	plain	ADJ
ftr-443	1317	39	vanilla	vanilla	NOUN
ftr-443	1317	40	preferred	prefer	VERB
ftr-443	1317	41	stock.-to	stock.-to	NUM
ftr-443	1317	42	reduce	reduce	VERB
ftr-443	1317	43	a	a	DET
ftr-443	1317	44	major	major	ADJ
ftr-443	1317	45	advantage	advantage	NOUN
ftr-443	1317	46	of	of	ADP
ftr-443	1317	47	partnerships	partnership	NOUN
ftr-443	1317	48	over	over	ADP
ftr-443	1317	49	s	s	PART
ftr-443	1317	50	corporations	corporation	NOUN
ftr-443	1317	51	,	,	PUNCT
ftr-443	1317	52	an	an	DET
ftr-443	1317	53	s	s	NOUN
ftr-443	1317	54	corporation	corporation	NOUN
ftr-443	1317	55	should	should	AUX
ftr-443	1317	56	be	be	AUX
ftr-443	1317	57	permitted	permit	VERB
ftr-443	1317	58	to	to	PART
ftr-443	1317	59	issued	issue	VERB
ftr-443	1317	60	preferred	preferred	ADJ
ftr-443	1317	61	stock	stock	NOUN
ftr-443	1317	62	closely	closely	ADV
ftr-443	1317	63	resembling	resemble	VERB
ftr-443	1317	64	debt	debt	NOUN
ftr-443	1317	65	without	without	ADP
ftr-443	1317	66	terminating	terminate	VERB
ftr-443	1317	67	its	its	PRON
ftr-443	1317	68	s	s	NOUN
ftr-443	1317	69	status.2	status.2	NOUN
ftr-443	1317	70	"	"	PUNCT
ftr-443	1317	71	3	3	NUM
ftr-443	1317	72	this	this	DET
ftr-443	1317	73	preferred	preferred	ADJ
ftr-443	1317	74	stock	stock	NOUN
ftr-443	1317	75	should	should	AUX
ftr-443	1317	76	be	be	AUX
ftr-443	1317	77	required	require	VERB
ftr-443	1317	78	to	to	PART
ftr-443	1317	79	be	be	AUX
ftr-443	1317	80	(	(	PUNCT
ftr-443	1317	81	1	1	NUM
ftr-443	1317	82	)	)	PUNCT
ftr-443	1317	83	nonvoting	nonvoting	NOUN
ftr-443	1317	84	,	,	PUNCT
ftr-443	1317	85	(	(	PUNCT
ftr-443	1317	86	2	2	X
ftr-443	1317	87	)	)	PUNCT
ftr-443	1317	88	limited	limited	ADJ
ftr-443	1317	89	and	and	CCONJ
ftr-443	1317	90	preferred	prefer	VERB
ftr-443	1317	91	as	as	ADP
ftr-443	1317	92	to	to	ADP
ftr-443	1317	93	dividends	dividend	NOUN
ftr-443	1317	94	,	,	PUNCT
ftr-443	1317	95	(	(	PUNCT
ftr-443	1317	96	3	3	X
ftr-443	1317	97	)	)	PUNCT
ftr-443	1317	98	not	not	PART
ftr-443	1317	99	participating	participate	VERB
ftr-443	1317	100	in	in	ADP
ftr-443	1317	101	corporate	corporate	ADJ
ftr-443	1317	102	growth	growth	NOUN
ftr-443	1317	103	to	to	ADP
ftr-443	1317	104	any	any	DET
ftr-443	1317	105	significant	significant	ADJ
ftr-443	1317	106	extent	extent	NOUN
ftr-443	1317	107	,	,	PUNCT
ftr-443	1317	108	and	and	CCONJ
ftr-443	1317	109	(	(	PUNCT
ftr-443	1317	110	4	4	X
ftr-443	1317	111	)	)	PUNCT
ftr-443	1317	112	entitled	entitle	VERB
ftr-443	1317	113	to	to	ADP
ftr-443	1317	114	redemption	redemption	NOUN
ftr-443	1317	115	and	and	CCONJ
ftr-443	1317	116	liquidation	liquidation	NOUN
ftr-443	1317	117	rights	right	NOUN
ftr-443	1317	118	not	not	PART
ftr-443	1317	119	in	in	ADP
ftr-443	1317	120	excess	excess	NOUN
ftr-443	1317	121	of	of	ADP
ftr-443	1317	122	the	the	DET
ftr-443	1317	123	issue	issue	NOUN
ftr-443	1317	124	price	price	NOUN
ftr-443	1317	125	plus	plus	CCONJ
ftr-443	1317	126	a	a	DET
ftr-443	1317	127	reasonable	reasonable	ADJ
ftr-443	1317	128	redemption	redemption	NOUN
ftr-443	1317	129	or	or	CCONJ
ftr-443	1317	130	liquidation	liquidation	NOUN
ftr-443	1317	131	premium	premium	NOUN
ftr-443	1317	132	.	.	PUNCT
ftr-443	1318	1	the	the	DET
ftr-443	1318	2	preferred	preferred	ADJ
ftr-443	1318	3	shareholders	shareholder	NOUN
ftr-443	1318	4	would	would	AUX
ftr-443	1318	5	not	not	PART
ftr-443	1318	6	be	be	AUX
ftr-443	1318	7	treated	treat	VERB
ftr-443	1318	8	as	as	ADP
ftr-443	1318	9	shareholders	shareholder	NOUN
ftr-443	1318	10	and	and	CCONJ
ftr-443	1318	11	could	could	AUX
ftr-443	1318	12	be	be	AUX
ftr-443	1318	13	persons	person	NOUN
ftr-443	1318	14	otherwise	otherwise	ADV
ftr-443	1318	15	ineligible	ineligible	ADJ
ftr-443	1318	16	to	to	PART
ftr-443	1318	17	own	own	VERB
ftr-443	1318	18	the	the	DET
ftr-443	1318	19	s	s	NOUN
ftr-443	1318	20	stock	stock	NOUN
ftr-443	1318	21	.	.	PUNCT
ftr-443	1319	1	unless	unless	SCONJ
ftr-443	1319	2	made	make	VERB
ftr-443	1319	3	in	in	ADP
ftr-443	1319	4	redemption	redemption	NOUN
ftr-443	1319	5	,	,	PUNCT
ftr-443	1319	6	distributions	distribution	NOUN
ftr-443	1319	7	on	on	ADP
ftr-443	1319	8	the	the	DET
ftr-443	1319	9	preferred	preferred	ADJ
ftr-443	1319	10	stock	stock	NOUN
ftr-443	1319	11	would	would	AUX
ftr-443	1319	12	be	be	AUX
ftr-443	1319	13	treated	treat	VERB
ftr-443	1319	14	as	as	ADP
ftr-443	1319	15	interest	interest	NOUN
ftr-443	1319	16	income	income	NOUN
ftr-443	1319	17	of	of	ADP
ftr-443	1319	18	the	the	DET
ftr-443	1319	19	holder	holder	NOUN
ftr-443	1319	20	and	and	CCONJ
ftr-443	1319	21	deductible	deductible	ADJ
ftr-443	1319	22	to	to	ADP
ftr-443	1319	23	the	the	DET
ftr-443	1319	24	corporation	corporation	NOUN
ftr-443	1319	25	when	when	SCONJ
ftr-443	1319	26	paid	pay	VERB
ftr-443	1319	27	.	.	PUNCT
ftr-443	1320	1	this	this	DET
ftr-443	1320	2	last	last	ADJ
ftr-443	1320	3	feature	feature	NOUN
ftr-443	1320	4	would	would	AUX
ftr-443	1320	5	remove	remove	VERB
ftr-443	1320	6	potential	potential	ADJ
ftr-443	1320	7	allocation	allocation	NOUN
ftr-443	1320	8	and	and	CCONJ
ftr-443	1320	9	timing	timing	NOUN
ftr-443	1320	10	problems	problem	NOUN
ftr-443	1320	11	.	.	PUNCT
ftr-443	1321	1	3	3	X
ftr-443	1321	2	.	.	X
ftr-443	1321	3	reform	reform	PROPN
ftr-443	1321	4	mi	mi	PROPN
ftr-443	1321	5	.	.	PROPN
ftr-443	1321	6	further	further	ADJ
ftr-443	1321	7	expansion	expansion	NOUN
ftr-443	1321	8	of	of	ADP
ftr-443	1321	9	straight	straight	ADJ
ftr-443	1321	10	debt.-since	debt.-since	PROPN
ftr-443	1321	11	1996	1996	NUM
ftr-443	1321	12	,	,	PUNCT
ftr-443	1321	13	straight	straight	ADJ
ftr-443	1321	14	debt	debt	NOUN
ftr-443	1321	15	,	,	PUNCT
ftr-443	1321	16	as	as	SCONJ
ftr-443	1321	17	defined	define	VERB
ftr-443	1321	18	under	under	ADP
ftr-443	1321	19	section	section	NOUN
ftr-443	1321	20	1361(d	1361(d	NUM
ftr-443	1321	21	)	)	PUNCT
ftr-443	1321	22	,	,	PUNCT
ftr-443	1321	23	can	can	AUX
ftr-443	1321	24	be	be	AUX
ftr-443	1321	25	held	hold	VERB
ftr-443	1321	26	by	by	ADP
ftr-443	1321	27	any	any	DET
ftr-443	1321	28	individual	individual	NOUN
ftr-443	1321	29	(	(	PUNCT
ftr-443	1321	30	other	other	ADJ
ftr-443	1321	31	than	than	ADP
ftr-443	1321	32	a	a	DET
ftr-443	1321	33	nonresident	nonresident	ADJ
ftr-443	1321	34	alien	alien	NOUN
ftr-443	1321	35	)	)	PUNCT
ftr-443	1321	36	,	,	PUNCT
ftr-443	1321	37	an	an	DET
ftr-443	1321	38	estate	estate	NOUN
ftr-443	1321	39	or	or	CCONJ
ftr-443	1321	40	trust	trust	NOUN
ftr-443	1321	41	that	that	PRON
ftr-443	1321	42	is	be	AUX
ftr-443	1321	43	permitted	permit	VERB
ftr-443	1321	44	to	to	PART
ftr-443	1321	45	be	be	AUX
ftr-443	1321	46	an	an	DET
ftr-443	1321	47	s	s	NOUN
ftr-443	1321	48	shareholder	shareholder	NOUN
ftr-443	1321	49	,	,	PUNCT
ftr-443	1321	50	or	or	CCONJ
ftr-443	1321	51	a	a	DET
ftr-443	1321	52	person	person	NOUN
ftr-443	1321	53	actively	actively	ADV
ftr-443	1321	54	and	and	CCONJ
ftr-443	1321	55	regularly	regularly	ADV
ftr-443	1321	56	engaged	engage	VERB
ftr-443	1321	57	in	in	ADP
ftr-443	1321	58	the	the	DET
ftr-443	1321	59	business	business	NOUN
ftr-443	1321	60	of	of	ADP
ftr-443	1321	61	lending	lend	VERB
ftr-443	1321	62	money	money	NOUN
ftr-443	1321	63	.	.	PUNCT
ftr-443	1322	1	based	base	VERB
ftr-443	1322	2	on	on	ADP
ftr-443	1322	3	reform	reform	NOUN
ftr-443	1322	4	i	i	PRON
ftr-443	1322	5	,	,	PUNCT
ftr-443	1322	6	which	which	PRON
ftr-443	1322	7	would	would	AUX
ftr-443	1322	8	permit	permit	VERB
ftr-443	1322	9	nonresident	nonresident	ADJ
ftr-443	1322	10	aliens	alien	NOUN
ftr-443	1322	11	to	to	PART
ftr-443	1322	12	be	be	AUX
ftr-443	1322	13	s	s	NOUN
ftr-443	1322	14	shareholders	shareholder	NOUN
ftr-443	1322	15	,	,	PUNCT
ftr-443	1322	16	the	the	DET
ftr-443	1322	17	straight	straight	ADJ
ftr-443	1322	18	debt	debt	NOUN
ftr-443	1322	19	safe	safe	ADJ
ftr-443	1322	20	harbor	harbor	NOUN
ftr-443	1322	21	should	should	AUX
ftr-443	1322	22	also	also	ADV
ftr-443	1322	23	opened	open	VERB
ftr-443	1322	24	to	to	PART
ftr-443	1322	25	nonresident	nonresident	VERB
ftr-443	1322	26	aliens	alien	NOUN
ftr-443	1322	27	.	.	PUNCT
ftr-443	1323	1	also	also	ADV
ftr-443	1323	2	,	,	PUNCT
ftr-443	1323	3	convertible	convertible	ADJ
ftr-443	1323	4	debt	debt	NOUN
ftr-443	1323	5	can	can	AUX
ftr-443	1323	6	not	not	PART
ftr-443	1323	7	presently	presently	ADV
ftr-443	1323	8	qualify	qualify	VERB
ftr-443	1323	9	as	as	ADP
ftr-443	1323	10	safe	safe	ADJ
ftr-443	1323	11	harbor	harbor	NOUN
ftr-443	1323	12	debt	debt	NOUN
ftr-443	1323	13	.	.	PUNCT
ftr-443	1324	1	this	this	PRON
ftr-443	1324	2	impedes	impede	VERB
ftr-443	1324	3	an	an	DET
ftr-443	1324	4	s	s	PART
ftr-443	1324	5	corporation	corporation	NOUN
ftr-443	1324	6	's	's	PART
ftr-443	1324	7	ability	ability	NOUN
ftr-443	1324	8	to	to	PART
ftr-443	1324	9	obtain	obtain	VERB
ftr-443	1324	10	venture	venture	NOUN
ftr-443	1324	11	capital	capital	NOUN
ftr-443	1324	12	and	and	CCONJ
ftr-443	1324	13	other	other	ADJ
ftr-443	1324	14	forms	form	NOUN
ftr-443	1324	15	of	of	ADP
ftr-443	1324	16	financing	financing	NOUN
ftr-443	1324	17	available	available	ADJ
ftr-443	1324	18	to	to	ADP
ftr-443	1324	19	other	other	ADJ
ftr-443	1324	20	passthrough	passthrough	NOUN
ftr-443	1324	21	entities	entity	NOUN
ftr-443	1324	22	.	.	PUNCT
ftr-443	1324	23	"	"	PUNCT
ftr-443	1325	1	4	4	NUM
ftr-443	1325	2	the	the	DET
ftr-443	1325	3	proscription	proscription	NOUN
ftr-443	1325	4	on	on	ADP
ftr-443	1325	5	the	the	DET
ftr-443	1325	6	convertibility	convertibility	NOUN
ftr-443	1325	7	of	of	ADP
ftr-443	1325	8	straight	straight	ADJ
ftr-443	1325	9	debt	debt	NOUN
ftr-443	1325	10	should	should	AUX
ftr-443	1325	11	be	be	AUX
ftr-443	1325	12	lifted	lift	VERB
ftr-443	1325	13	in	in	ADP
ftr-443	1325	14	instances	instance	NOUN
ftr-443	1325	15	where	where	SCONJ
ftr-443	1325	16	the	the	DET
ftr-443	1325	17	convertible	convertible	ADJ
ftr-443	1325	18	feature	feature	NOUN
ftr-443	1325	19	is	be	AUX
ftr-443	1325	20	held	hold	VERB
ftr-443	1325	21	by	by	ADP
ftr-443	1325	22	a	a	DET
ftr-443	1325	23	person	person	NOUN
ftr-443	1325	24	that	that	PRON
ftr-443	1325	25	is	be	AUX
ftr-443	1325	26	actively	actively	ADV
ftr-443	1325	27	and	and	CCONJ
ftr-443	1325	28	regularly	regularly	ADV
ftr-443	1325	29	engaged	engage	VERB
ftr-443	1325	30	in	in	ADP
ftr-443	1325	31	the	the	DET
ftr-443	1325	32	business	business	NOUN
ftr-443	1325	33	of	of	ADP
ftr-443	1325	34	lending	lend	VERB
ftr-443	1325	35	money	money	NOUN
ftr-443	1325	36	and	and	CCONJ
ftr-443	1325	37	is	be	AUX
ftr-443	1325	38	issued	issue	VERB
ftr-443	1325	39	in	in	ADP
ftr-443	1325	40	connection	connection	NOUN
ftr-443	1325	41	with	with	ADP
ftr-443	1325	42	a	a	DET
ftr-443	1325	43	commercially	commercially	ADV
ftr-443	1325	44	reasonable	reasonable	ADJ
ftr-443	1325	45	loan	loan	NOUN
ftr-443	1325	46	to	to	ADP
ftr-443	1325	47	the	the	DET
ftr-443	1325	48	corporation	corporation	NOUN
ftr-443	1325	49	.	.	PUNCT
ftr-443	1326	1	212	212	NUM
ftr-443	1326	2	.	.	PUNCT
ftr-443	1327	1	for	for	ADP
ftr-443	1327	2	a	a	DET
ftr-443	1327	3	discussion	discussion	NOUN
ftr-443	1327	4	of	of	ADP
ftr-443	1327	5	the	the	DET
ftr-443	1327	6	existing	exist	VERB
ftr-443	1327	7	limitations	limitation	NOUN
ftr-443	1327	8	,	,	PUNCT
ftr-443	1327	9	see	see	VERB
ftr-443	1327	10	supra	supra	ADJ
ftr-443	1327	11	text	text	NOUN
ftr-443	1327	12	accompanying	accompanying	ADJ
ftr-443	1327	13	notes	note	NOUN
ftr-443	1327	14	29	29	NUM
ftr-443	1327	15	-	-	SYM
ftr-443	1327	16	34	34	NUM
ftr-443	1327	17	.	.	NOUN
ftr-443	1327	18	213	213	NUM
ftr-443	1327	19	.	.	PUNCT
ftr-443	1328	1	see	see	VERB
ftr-443	1328	2	supra	supra	ADJ
ftr-443	1328	3	text	text	NOUN
ftr-443	1328	4	accompanying	accompanying	ADJ
ftr-443	1328	5	notes	note	NOUN
ftr-443	1328	6	155	155	NUM
ftr-443	1328	7	-	-	SYM
ftr-443	1328	8	156	156	NUM
ftr-443	1328	9	.	.	PUNCT
ftr-443	1329	1	214	214	NUM
ftr-443	1329	2	.	.	PUNCT
ftr-443	1330	1	convertible	convertible	ADJ
ftr-443	1330	2	debt	debt	NOUN
ftr-443	1330	3	may	may	AUX
ftr-443	1330	4	be	be	AUX
ftr-443	1330	5	a	a	DET
ftr-443	1330	6	prohibited	prohibit	VERB
ftr-443	1330	7	second	second	ADJ
ftr-443	1330	8	class	class	NOUN
ftr-443	1330	9	of	of	ADP
ftr-443	1330	10	stock	stock	NOUN
ftr-443	1330	11	if	if	SCONJ
ftr-443	1330	12	(	(	PUNCT
ftr-443	1330	13	1	1	X
ftr-443	1330	14	)	)	PUNCT
ftr-443	1330	15	the	the	DET
ftr-443	1330	16	instrument	instrument	NOUN
ftr-443	1330	17	is	be	AUX
ftr-443	1330	18	equity	equity	NOUN
ftr-443	1330	19	under	under	ADP
ftr-443	1330	20	general	general	ADJ
ftr-443	1330	21	principles	principle	NOUN
ftr-443	1330	22	of	of	ADP
ftr-443	1330	23	federal	federal	ADJ
ftr-443	1330	24	tax	tax	NOUN
ftr-443	1330	25	law	law	NOUN
ftr-443	1330	26	and	and	CCONJ
ftr-443	1330	27	a	a	DET
ftr-443	1330	28	principal	principal	ADJ
ftr-443	1330	29	purpose	purpose	NOUN
ftr-443	1330	30	of	of	ADP
ftr-443	1330	31	issuing	issue	VERB
ftr-443	1330	32	the	the	DET
ftr-443	1330	33	instrument	instrument	NOUN
ftr-443	1330	34	is	be	AUX
ftr-443	1330	35	to	to	PART
ftr-443	1330	36	circumvent	circumvent	VERB
ftr-443	1330	37	the	the	DET
ftr-443	1330	38	rights	right	NOUN
ftr-443	1330	39	to	to	ADP
ftr-443	1330	40	distribution	distribution	NOUN
ftr-443	1330	41	or	or	CCONJ
ftr-443	1330	42	liquidation	liquidation	NOUN
ftr-443	1330	43	proceeds	proceed	NOUN
ftr-443	1330	44	conferred	confer	VERB
ftr-443	1330	45	by	by	ADP
ftr-443	1330	46	the	the	DET
ftr-443	1330	47	outstanding	outstanding	ADJ
ftr-443	1330	48	stock	stock	NOUN
ftr-443	1330	49	or	or	CCONJ
ftr-443	1330	50	to	to	PART
ftr-443	1330	51	circumvent	circumvent	VERB
ftr-443	1330	52	the	the	DET
ftr-443	1330	53	limitation	limitation	NOUN
ftr-443	1330	54	on	on	ADP
ftr-443	1330	55	eligible	eligible	ADJ
ftr-443	1330	56	shareholders	shareholder	NOUN
ftr-443	1330	57	,	,	PUNCT
ftr-443	1330	58	or	or	CCONJ
ftr-443	1330	59	(	(	PUNCT
ftr-443	1330	60	2	2	X
ftr-443	1330	61	)	)	PUNCT
ftr-443	1330	62	the	the	DET
ftr-443	1330	63	convertible	convertible	ADJ
ftr-443	1330	64	debt	debt	NOUN
ftr-443	1330	65	contains	contain	VERB
ftr-443	1330	66	rights	right	NOUN
ftr-443	1330	67	equivalent	equivalent	ADJ
ftr-443	1330	68	to	to	ADP
ftr-443	1330	69	an	an	PRON
ftr-443	1330	70	in	in	ADP
ftr-443	1330	71	the	the	DET
ftr-443	1330	72	money	money	NOUN
ftr-443	1330	73	call	call	NOUN
ftr-443	1330	74	option	option	NOUN
ftr-443	1330	75	.	.	PUNCT
ftr-443	1331	1	regs	reg	NOUN
ftr-443	1331	2	.	.	PUNCT
ftr-443	1332	1	§	§	PROPN
ftr-443	1332	2	§	§	PROPN
ftr-443	1332	3	1.1361	1.1361	NUM
ftr-443	1332	4	-	-	SYM
ftr-443	1332	5	1(/(4)(iv	1(/(4)(iv	NUM
ftr-443	1332	6	)	)	PUNCT
ftr-443	1332	7	.	.	PUNCT
ftr-443	1333	1	however	however	ADV
ftr-443	1333	2	,	,	PUNCT
ftr-443	1333	3	a	a	DET
ftr-443	1333	4	call	call	NOUN
ftr-443	1333	5	option	option	NOUN
ftr-443	1333	6	is	be	AUX
ftr-443	1333	7	not	not	PART
ftr-443	1333	8	a	a	DET
ftr-443	1333	9	second	second	ADJ
ftr-443	1333	10	class	class	NOUN
ftr-443	1333	11	of	of	ADP
ftr-443	1333	12	stock	stock	NOUN
ftr-443	1333	13	if	if	SCONJ
ftr-443	1333	14	it	it	PRON
ftr-443	1333	15	is	be	AUX
ftr-443	1333	16	issued	issue	VERB
ftr-443	1333	17	to	to	ADP
ftr-443	1333	18	a	a	DET
ftr-443	1333	19	person	person	NOUN
ftr-443	1333	20	that	that	PRON
ftr-443	1333	21	is	be	AUX
ftr-443	1333	22	actively	actively	ADV
ftr-443	1333	23	and	and	CCONJ
ftr-443	1333	24	regularly	regularly	ADV
ftr-443	1333	25	engaged	engage	VERB
ftr-443	1333	26	in	in	ADP
ftr-443	1333	27	the	the	DET
ftr-443	1333	28	business	business	NOUN
ftr-443	1333	29	of	of	ADP
ftr-443	1333	30	lending	lending	NOUN
ftr-443	1333	31	and	and	CCONJ
ftr-443	1333	32	issued	issue	VERB
ftr-443	1333	33	in	in	ADP
ftr-443	1333	34	connection	connection	NOUN
ftr-443	1333	35	with	with	ADP
ftr-443	1333	36	a	a	DET
ftr-443	1333	37	commercially	commercially	ADV
ftr-443	1333	38	reasonable	reasonable	ADJ
ftr-443	1333	39	loan	loan	NOUN
ftr-443	1333	40	to	to	ADP
ftr-443	1333	41	the	the	DET
ftr-443	1333	42	corporation	corporation	NOUN
ftr-443	1333	43	.	.	PUNCT
ftr-443	1334	1	regs	regs	PROPN
ftr-443	1334	2	.	.	PUNCT
ftr-443	1335	1	§	§	PROPN
ftr-443	1335	2	1.13611	1.13611	NUM
ftr-443	1335	3	(	(	PUNCT
ftr-443	1335	4	!	!	PUNCT
ftr-443	1335	5	)	)	PUNCT
ftr-443	1335	6	(	(	PUNCT
ftr-443	1335	7	4)(iii)(b	4)(iii)(b	PROPN
ftr-443	1335	8	)	)	PUNCT
ftr-443	1335	9	.	.	PUNCT
ftr-443	1336	1	[	[	X
ftr-443	1336	2	vol	vol	NOUN
ftr-443	1336	3	4:3	4:3	NUM
ftr-443	1336	4	benefits	benefit	NOUN
ftr-443	1336	5	and	and	CCONJ
ftr-443	1336	6	burdens	burden	NOUN
ftr-443	1336	7	of	of	ADP
ftr-443	1336	8	subchapter	subchapter	NOUN
ftr-443	1336	9	s	s	PART
ftr-443	1336	10	4	4	NUM
ftr-443	1336	11	.	.	PUNCT
ftr-443	1336	12	reform	reform	NOUN
ftr-443	1336	13	iv	iv	NUM
ftr-443	1336	14	:	:	PUNCT
ftr-443	1336	15	repeal	repeal	NOUN
ftr-443	1336	16	termination	termination	NOUN
ftr-443	1336	17	rule	rule	NOUN
ftr-443	1336	18	for	for	ADP
ftr-443	1336	19	excess	excess	ADJ
ftr-443	1336	20	passive	passive	ADJ
ftr-443	1336	21	investment	investment	NOUN
ftr-443	1336	22	income.-section	income.-section	NOUN
ftr-443	1336	23	1362(d)(3	1362(d)(3	NOUN
ftr-443	1336	24	)	)	PUNCT
ftr-443	1336	25	terminates	terminate	VERB
ftr-443	1336	26	an	an	DET
ftr-443	1336	27	s	s	PART
ftr-443	1336	28	corporation	corporation	NOUN
ftr-443	1336	29	's	's	PART
ftr-443	1336	30	election	election	NOUN
ftr-443	1336	31	if	if	SCONJ
ftr-443	1336	32	it	it	PRON
ftr-443	1336	33	has	have	VERB
ftr-443	1336	34	c	c	NOUN
ftr-443	1336	35	earnings	earning	NOUN
ftr-443	1336	36	and	and	CCONJ
ftr-443	1336	37	profits	profit	NOUN
ftr-443	1336	38	and	and	CCONJ
ftr-443	1336	39	receives	receive	VERB
ftr-443	1336	40	excess	excess	ADJ
ftr-443	1336	41	passive	passive	ADJ
ftr-443	1336	42	investment	investment	NOUN
ftr-443	1336	43	income	income	NOUN
ftr-443	1336	44	for	for	ADP
ftr-443	1336	45	three	three	NUM
ftr-443	1336	46	consecutive	consecutive	ADJ
ftr-443	1336	47	s	s	NOUN
ftr-443	1336	48	years	year	NOUN
ftr-443	1336	49	.	.	PUNCT
ftr-443	1337	1	the	the	DET
ftr-443	1337	2	tax	tax	NOUN
ftr-443	1337	3	on	on	ADP
ftr-443	1337	4	passive	passive	ADJ
ftr-443	1337	5	investment	investment	NOUN
ftr-443	1337	6	income	income	NOUN
ftr-443	1337	7	under	under	ADP
ftr-443	1337	8	section	section	NOUN
ftr-443	1337	9	1375	1375	NUM
ftr-443	1337	10	is	be	AUX
ftr-443	1337	11	a	a	DET
ftr-443	1337	12	sufficient	sufficient	ADJ
ftr-443	1337	13	sanction	sanction	NOUN
ftr-443	1337	14	for	for	ADP
ftr-443	1337	15	passive	passive	ADJ
ftr-443	1337	16	corporations	corporation	NOUN
ftr-443	1337	17	seeking	seek	VERB
ftr-443	1337	18	to	to	PART
ftr-443	1337	19	convert	convert	VERB
ftr-443	1337	20	from	from	ADP
ftr-443	1337	21	c	c	PROPN
ftr-443	1337	22	to	to	ADP
ftr-443	1337	23	s	s	PRON
ftr-443	1337	24	status	status	NOUN
ftr-443	1337	25	.	.	PUNCT
ftr-443	1338	1	the	the	DET
ftr-443	1338	2	termination	termination	NOUN
ftr-443	1338	3	rule	rule	NOUN
ftr-443	1338	4	should	should	AUX
ftr-443	1338	5	be	be	AUX
ftr-443	1338	6	repealed	repeal	VERB
ftr-443	1338	7	.	.	PUNCT
ftr-443	1339	1	5	5	X
ftr-443	1339	2	.	.	X
ftr-443	1339	3	reform	reform	NOUN
ftr-443	1339	4	v	v	NOUN
ftr-443	1339	5	:	:	PUNCT
ftr-443	1339	6	repeal	repeal	NOUN
ftr-443	1339	7	section	section	NOUN
ftr-443	1339	8	752	752	NUM
ftr-443	1339	9	for	for	ADP
ftr-443	1339	10	partnerships.-an	partnerships.-an	NOUN
ftr-443	1339	11	s	s	PART
ftr-443	1339	12	shareholder	shareholder	NOUN
ftr-443	1339	13	has	have	VERB
ftr-443	1339	14	basis	basis	NOUN
ftr-443	1339	15	only	only	ADV
ftr-443	1339	16	to	to	ADP
ftr-443	1339	17	the	the	DET
ftr-443	1339	18	extent	extent	NOUN
ftr-443	1339	19	that	that	SCONJ
ftr-443	1339	20	he	he	PRON
ftr-443	1339	21	or	or	CCONJ
ftr-443	1339	22	she	she	PRON
ftr-443	1339	23	has	have	AUX
ftr-443	1339	24	made	make	VERB
ftr-443	1339	25	an	an	DET
ftr-443	1339	26	"	"	PUNCT
ftr-443	1339	27	actual	actual	ADJ
ftr-443	1339	28	economic	economic	ADJ
ftr-443	1339	29	outlay	outlay	NOUN
ftr-443	1339	30	.	.	PUNCT
ftr-443	1340	1	"2	"2	PROPN
ftr-443	1340	2	'	'	PUNCT
ftr-443	1340	3	under	under	ADP
ftr-443	1340	4	section	section	NOUN
ftr-443	1340	5	1366(d	1366(d	PROPN
ftr-443	1340	6	)	)	PUNCT
ftr-443	1340	7	,	,	PUNCT
ftr-443	1340	8	an	an	DET
ftr-443	1340	9	s	s	NOUN
ftr-443	1340	10	shareholder	shareholder	NOUN
ftr-443	1340	11	's	's	PART
ftr-443	1340	12	pro	pro	ADJ
ftr-443	1340	13	rata	rata	ADJ
ftr-443	1340	14	share	share	NOUN
ftr-443	1340	15	of	of	ADP
ftr-443	1340	16	corporate	corporate	ADJ
ftr-443	1340	17	losses	loss	NOUN
ftr-443	1340	18	is	be	AUX
ftr-443	1340	19	deductible	deductible	ADJ
ftr-443	1340	20	only	only	ADV
ftr-443	1340	21	to	to	ADP
ftr-443	1340	22	the	the	DET
ftr-443	1340	23	extent	extent	NOUN
ftr-443	1340	24	of	of	ADP
ftr-443	1340	25	the	the	DET
ftr-443	1340	26	shareholder	shareholder	NOUN
ftr-443	1340	27	's	's	PART
ftr-443	1340	28	basis	basis	NOUN
ftr-443	1340	29	in	in	ADP
ftr-443	1340	30	stock	stock	NOUN
ftr-443	1340	31	and	and	CCONJ
ftr-443	1340	32	debt	debt	NOUN
ftr-443	1340	33	.	.	PUNCT
ftr-443	1341	1	in	in	ADP
ftr-443	1341	2	contrast	contrast	NOUN
ftr-443	1341	3	,	,	PUNCT
ftr-443	1341	4	partners	partner	NOUN
ftr-443	1341	5	are	be	AUX
ftr-443	1341	6	able	able	ADJ
ftr-443	1341	7	to	to	PART
ftr-443	1341	8	include	include	VERB
ftr-443	1341	9	their	their	PRON
ftr-443	1341	10	shares	share	NOUN
ftr-443	1341	11	of	of	ADP
ftr-443	1341	12	partnership	partnership	NOUN
ftr-443	1341	13	indebtedness	indebtedness	NOUN
ftr-443	1341	14	in	in	ADP
ftr-443	1341	15	the	the	DET
ftr-443	1341	16	bases	basis	NOUN
ftr-443	1341	17	of	of	ADP
ftr-443	1341	18	their	their	PRON
ftr-443	1341	19	partnership	partnership	NOUN
ftr-443	1341	20	interests	interest	NOUN
ftr-443	1341	21	.	.	PUNCT
ftr-443	1342	1	normally	normally	ADV
ftr-443	1342	2	,	,	PUNCT
ftr-443	1342	3	partners	partner	NOUN
ftr-443	1342	4	share	share	VERB
ftr-443	1342	5	partnership	partnership	NOUN
ftr-443	1342	6	liabilities	liability	NOUN
ftr-443	1342	7	according	accord	VERB
ftr-443	1342	8	to	to	ADP
ftr-443	1342	9	their	their	PRON
ftr-443	1342	10	economic	economic	ADJ
ftr-443	1342	11	exposure	exposure	NOUN
ftr-443	1342	12	to	to	ADP
ftr-443	1342	13	the	the	DET
ftr-443	1342	14	liabilities	liability	NOUN
ftr-443	1342	15	,	,	PUNCT
ftr-443	1342	16	but	but	CCONJ
ftr-443	1342	17	if	if	SCONJ
ftr-443	1342	18	no	no	DET
ftr-443	1342	19	partner	partner	NOUN
ftr-443	1342	20	is	be	AUX
ftr-443	1342	21	personally	personally	ADV
ftr-443	1342	22	liable	liable	ADJ
ftr-443	1342	23	for	for	ADP
ftr-443	1342	24	the	the	DET
ftr-443	1342	25	repayment	repayment	NOUN
ftr-443	1342	26	of	of	ADP
ftr-443	1342	27	a	a	DET
ftr-443	1342	28	partnership	partnership	NOUN
ftr-443	1342	29	obligation	obligation	NOUN
ftr-443	1342	30	,	,	PUNCT
ftr-443	1342	31	the	the	DET
ftr-443	1342	32	liability	liability	NOUN
ftr-443	1342	33	is	be	AUX
ftr-443	1342	34	shared	share	VERB
ftr-443	1342	35	by	by	ADP
ftr-443	1342	36	all	all	DET
ftr-443	1342	37	partners	partner	NOUN
ftr-443	1342	38	,	,	PUNCT
ftr-443	1342	39	including	include	VERB
ftr-443	1342	40	limited	limited	ADJ
ftr-443	1342	41	partners	partner	NOUN
ftr-443	1342	42	or	or	CCONJ
ftr-443	1342	43	llc	llc	NOUN
ftr-443	1342	44	members	member	NOUN
ftr-443	1342	45	,	,	PUNCT
ftr-443	1342	46	in	in	ADP
ftr-443	1342	47	proportion	proportion	NOUN
ftr-443	1342	48	to	to	ADP
ftr-443	1342	49	their	their	PRON
ftr-443	1342	50	profit	profit	NOUN
ftr-443	1342	51	shares	share	NOUN
ftr-443	1342	52	.	.	PUNCT
ftr-443	1343	1	"16	"16	NOUN
ftr-443	1343	2	other	other	ADJ
ftr-443	1343	3	than	than	ADP
ftr-443	1343	4	historical	historical	ADJ
ftr-443	1343	5	precedent	precedent	NOUN
ftr-443	1343	6	,	,	PUNCT
ftr-443	1343	7	which	which	PRON
ftr-443	1343	8	is	be	AUX
ftr-443	1343	9	rooted	root	VERB
ftr-443	1343	10	in	in	ADP
ftr-443	1343	11	the	the	DET
ftr-443	1343	12	aggregate	aggregate	ADJ
ftr-443	1343	13	theory	theory	NOUN
ftr-443	1343	14	of	of	ADP
ftr-443	1343	15	partnership	partnership	NOUN
ftr-443	1343	16	taxation	taxation	NOUN
ftr-443	1343	17	,	,	PUNCT
ftr-443	1343	18	there	there	PRON
ftr-443	1343	19	is	be	VERB
ftr-443	1343	20	no	no	DET
ftr-443	1343	21	persuasive	persuasive	ADJ
ftr-443	1343	22	justification	justification	NOUN
ftr-443	1343	23	for	for	ADP
ftr-443	1343	24	permitting	permit	VERB
ftr-443	1343	25	partners	partner	NOUN
ftr-443	1343	26	to	to	PART
ftr-443	1343	27	increase	increase	VERB
ftr-443	1343	28	basis	basis	NOUN
ftr-443	1343	29	for	for	ADP
ftr-443	1343	30	entity	entity	NOUN
ftr-443	1343	31	level	level	NOUN
ftr-443	1343	32	debt	debt	NOUN
ftr-443	1343	33	.	.	PUNCT
ftr-443	1344	1	any	any	DET
ftr-443	1344	2	rationale	rationale	NOUN
ftr-443	1344	3	that	that	PRON
ftr-443	1344	4	might	might	AUX
ftr-443	1344	5	be	be	AUX
ftr-443	1344	6	offered	offer	VERB
ftr-443	1344	7	becomes	become	VERB
ftr-443	1344	8	tenuous	tenuous	ADJ
ftr-443	1344	9	as	as	SCONJ
ftr-443	1344	10	applied	apply	VERB
ftr-443	1344	11	to	to	ADP
ftr-443	1344	12	nonrecourse	nonrecourse	NOUN
ftr-443	1344	13	debt	debt	NOUN
ftr-443	1344	14	.	.	PUNCT
ftr-443	1345	1	in	in	ADP
ftr-443	1345	2	most	most	ADJ
ftr-443	1345	3	instances	instance	NOUN
ftr-443	1345	4	,	,	PUNCT
ftr-443	1345	5	owners	owner	NOUN
ftr-443	1345	6	of	of	ADP
ftr-443	1345	7	a	a	DET
ftr-443	1345	8	closely	closely	ADV
ftr-443	1345	9	-	-	PUNCT
ftr-443	1345	10	held	hold	VERB
ftr-443	1345	11	business	business	NOUN
ftr-443	1345	12	enterprise	enterprise	NOUN
ftr-443	1345	13	must	must	AUX
ftr-443	1345	14	personally	personally	ADV
ftr-443	1345	15	guaranty	guaranty	VERB
ftr-443	1345	16	financing	financing	NOUN
ftr-443	1345	17	to	to	ADP
ftr-443	1345	18	the	the	DET
ftr-443	1345	19	business	business	NOUN
ftr-443	1345	20	.	.	PUNCT
ftr-443	1346	1	such	such	ADJ
ftr-443	1346	2	guarantees	guarantee	NOUN
ftr-443	1346	3	do	do	AUX
ftr-443	1346	4	not	not	PART
ftr-443	1346	5	increase	increase	VERB
ftr-443	1346	6	basis	basis	NOUN
ftr-443	1346	7	of	of	ADP
ftr-443	1346	8	s	s	VERB
ftr-443	1346	9	shareholders	shareholder	NOUN
ftr-443	1346	10	,	,	PUNCT
ftr-443	1346	11	but	but	CCONJ
ftr-443	1346	12	the	the	DET
ftr-443	1346	13	guaranteed	guarantee	VERB
ftr-443	1346	14	debt	debt	NOUN
ftr-443	1346	15	is	be	AUX
ftr-443	1346	16	included	include	VERB
ftr-443	1346	17	in	in	ADP
ftr-443	1346	18	partner	partner	NOUN
ftr-443	1346	19	basis	basis	NOUN
ftr-443	1346	20	.	.	PUNCT
ftr-443	1347	1	partner	partner	NOUN
ftr-443	1347	2	basis	basis	NOUN
ftr-443	1347	3	benefit	benefit	NOUN
ftr-443	1347	4	also	also	ADV
ftr-443	1347	5	facilitates	facilitate	VERB
ftr-443	1347	6	tax	tax	NOUN
ftr-443	1347	7	-	-	PUNCT
ftr-443	1347	8	free	free	ADJ
ftr-443	1347	9	distribution	distribution	NOUN
ftr-443	1347	10	of	of	ADP
ftr-443	1347	11	cash	cash	NOUN
ftr-443	1347	12	flow	flow	NOUN
ftr-443	1347	13	to	to	ADP
ftr-443	1347	14	the	the	DET
ftr-443	1347	15	partners	partner	NOUN
ftr-443	1347	16	.	.	PUNCT
ftr-443	1348	1	a	a	DET
ftr-443	1348	2	partner	partner	NOUN
ftr-443	1348	3	's	's	PART
ftr-443	1348	4	ability	ability	NOUN
ftr-443	1348	5	to	to	PART
ftr-443	1348	6	receive	receive	VERB
ftr-443	1348	7	tax	tax	NOUN
ftr-443	1348	8	-	-	PUNCT
ftr-443	1348	9	free	free	ADJ
ftr-443	1348	10	distributions	distribution	NOUN
ftr-443	1348	11	of	of	ADP
ftr-443	1348	12	funds	fund	NOUN
ftr-443	1348	13	from	from	ADP
ftr-443	1348	14	refinancings	refinancing	NOUN
ftr-443	1348	15	and	and	CCONJ
ftr-443	1348	16	to	to	PART
ftr-443	1348	17	deduct	deduct	VERB
ftr-443	1348	18	depreciation	depreciation	NOUN
ftr-443	1348	19	on	on	ADP
ftr-443	1348	20	debt	debt	NOUN
ftr-443	1348	21	-	-	PUNCT
ftr-443	1348	22	financed	finance	VERB
ftr-443	1348	23	property	property	NOUN
ftr-443	1348	24	is	be	AUX
ftr-443	1348	25	unavailable	unavailable	ADJ
ftr-443	1348	26	to	to	ADP
ftr-443	1348	27	s	s	VERB
ftr-443	1348	28	shareholders	shareholder	NOUN
ftr-443	1348	29	.	.	PUNCT
ftr-443	1349	1	partners	partner	NOUN
ftr-443	1349	2	should	should	AUX
ftr-443	1349	3	not	not	PART
ftr-443	1349	4	be	be	AUX
ftr-443	1349	5	allowed	allow	VERB
ftr-443	1349	6	to	to	PART
ftr-443	1349	7	increase	increase	VERB
ftr-443	1349	8	basis	basis	NOUN
ftr-443	1349	9	for	for	ADP
ftr-443	1349	10	nonrecourse	nonrecourse	NOUN
ftr-443	1349	11	debt	debt	NOUN
ftr-443	1349	12	.	.	PUNCT
ftr-443	1350	1	were	be	AUX
ftr-443	1350	2	congress	congress	PROPN
ftr-443	1350	3	to	to	PART
ftr-443	1350	4	repeal	repeal	VERB
ftr-443	1350	5	the	the	DET
ftr-443	1350	6	partnership	partnership	NOUN
ftr-443	1350	7	debt	debt	NOUN
ftr-443	1350	8	rules	rule	NOUN
ftr-443	1350	9	,	,	PUNCT
ftr-443	1350	10	consideration	consideration	NOUN
ftr-443	1350	11	could	could	AUX
ftr-443	1350	12	also	also	ADV
ftr-443	1350	13	be	be	AUX
ftr-443	1350	14	given	give	VERB
ftr-443	1350	15	to	to	ADP
ftr-443	1350	16	repealing	repeal	VERB
ftr-443	1350	17	the	the	PRON
ftr-443	1350	18	at	at	ADP
ftr-443	1350	19	risk	risk	NOUN
ftr-443	1350	20	and	and	CCONJ
ftr-443	1350	21	passive	passive	ADJ
ftr-443	1350	22	activity	activity	NOUN
ftr-443	1350	23	loss	loss	NOUN
ftr-443	1350	24	limitations	limitation	NOUN
ftr-443	1350	25	of	of	ADP
ftr-443	1350	26	sections	section	NOUN
ftr-443	1350	27	465	465	NUM
ftr-443	1350	28	and	and	CCONJ
ftr-443	1350	29	469.217	469.217	NUM
ftr-443	1350	30	215	215	NUM
ftr-443	1350	31	.	.	PUNCT
ftr-443	1351	1	raynor	raynor	PROPN
ftr-443	1351	2	v.	v.	PROPN
ftr-443	1351	3	commissioner	commissioner	PROPN
ftr-443	1351	4	,	,	PUNCT
ftr-443	1351	5	50	50	NUM
ftr-443	1351	6	t.c	t.c	NOUN
ftr-443	1351	7	.	.	PROPN
ftr-443	1351	8	762	762	NUM
ftr-443	1351	9	(	(	PUNCT
ftr-443	1351	10	1968	1968	NUM
ftr-443	1351	11	)	)	PUNCT
ftr-443	1351	12	.	.	PUNCT
ftr-443	1352	1	but	but	CCONJ
ftr-443	1352	2	see	see	VERB
ftr-443	1352	3	selfe	selfe	PROPN
ftr-443	1352	4	v.	v.	ADP
ftr-443	1352	5	united	united	PROPN
ftr-443	1352	6	states	states	PROPN
ftr-443	1352	7	,	,	PUNCT
ftr-443	1352	8	778	778	NUM
ftr-443	1352	9	f.2d	f.2d	SYM
ftr-443	1352	10	769	769	NUM
ftr-443	1352	11	(	(	PUNCT
ftr-443	1352	12	11th	11th	ADJ
ftr-443	1352	13	cir	cir	NOUN
ftr-443	1352	14	.	.	PUNCT
ftr-443	1352	15	1985	1985	NUM
ftr-443	1352	16	)	)	PUNCT
ftr-443	1352	17	.	.	PUNCT
ftr-443	1353	1	216	216	NUM
ftr-443	1353	2	.	.	PUNCT
ftr-443	1354	1	see	see	VERB
ftr-443	1354	2	regs	reg	NOUN
ftr-443	1354	3	.	.	PUNCT
ftr-443	1355	1	§	§	PROPN
ftr-443	1355	2	1.752	1.752	NUM
ftr-443	1355	3	-	-	SYM
ftr-443	1355	4	1	1	NUM
ftr-443	1355	5	.	.	NOUN
ftr-443	1355	6	217	217	NUM
ftr-443	1355	7	.	.	PUNCT
ftr-443	1356	1	it	it	PRON
ftr-443	1356	2	was	be	AUX
ftr-443	1356	3	always	always	ADV
ftr-443	1356	4	difficult	difficult	ADJ
ftr-443	1356	5	for	for	SCONJ
ftr-443	1356	6	this	this	DET
ftr-443	1356	7	author	author	NOUN
ftr-443	1356	8	to	to	PART
ftr-443	1356	9	understand	understand	VERB
ftr-443	1356	10	why	why	SCONJ
ftr-443	1356	11	an	an	DET
ftr-443	1356	12	investor	investor	NOUN
ftr-443	1356	13	was	be	AUX
ftr-443	1356	14	not	not	PART
ftr-443	1356	15	permitted	permit	VERB
ftr-443	1356	16	under	under	ADP
ftr-443	1356	17	§	§	PROPN
ftr-443	1356	18	469	469	NUM
ftr-443	1356	19	to	to	PART
ftr-443	1356	20	deduct	deduct	VERB
ftr-443	1356	21	losses	loss	NOUN
ftr-443	1356	22	to	to	ADP
ftr-443	1356	23	the	the	DET
ftr-443	1356	24	extent	extent	NOUN
ftr-443	1356	25	of	of	ADP
ftr-443	1356	26	cash	cash	NOUN
ftr-443	1356	27	invested	invest	VERB
ftr-443	1356	28	,	,	PUNCT
ftr-443	1356	29	simply	simply	ADV
ftr-443	1356	30	because	because	SCONJ
ftr-443	1356	31	the	the	DET
ftr-443	1356	32	investor	investor	NOUN
ftr-443	1356	33	did	do	AUX
ftr-443	1356	34	not	not	PART
ftr-443	1356	35	actively	actively	ADV
ftr-443	1356	36	participate	participate	VERB
ftr-443	1356	37	in	in	ADP
ftr-443	1356	38	the	the	DET
ftr-443	1356	39	venture	venture	NOUN
ftr-443	1356	40	.	.	PUNCT
ftr-443	1357	1	the	the	DET
ftr-443	1357	2	repeal	repeal	NOUN
ftr-443	1357	3	of	of	ADP
ftr-443	1357	4	§	§	PROPN
ftr-443	1357	5	752	752	NUM
ftr-443	1357	6	might	might	AUX
ftr-443	1357	7	persuade	persuade	VERB
ftr-443	1357	8	congress	congress	PROPN
ftr-443	1357	9	that	that	SCONJ
ftr-443	1357	10	it	it	PRON
ftr-443	1357	11	overshot	overshoot	VERB
ftr-443	1357	12	the	the	DET
ftr-443	1357	13	mark	mark	NOUN
ftr-443	1357	14	in	in	ADP
ftr-443	1357	15	enacting	enact	VERB
ftr-443	1357	16	§	§	PROPN
ftr-443	1357	17	469	469	NUM
ftr-443	1357	18	.	.	PROPN
ftr-443	1357	19	19991	19991	NUM
ftr-443	1358	1	florida	florida	PROPN
ftr-443	1358	2	tax	tax	PROPN
ftr-443	1358	3	review	review	PROPN
ftr-443	1358	4	vi	vi	PROPN
ftr-443	1358	5	.	.	PUNCT
ftr-443	1358	6	moving	move	VERB
ftr-443	1358	7	towards	towards	ADP
ftr-443	1358	8	a	a	DET
ftr-443	1358	9	single	single	ADJ
ftr-443	1358	10	regime	regime	NOUN
ftr-443	1358	11	of	of	ADP
ftr-443	1358	12	taxing	tax	VERB
ftr-443	1358	13	private	private	ADJ
ftr-443	1358	14	business	business	NOUN
ftr-443	1358	15	enterprises	enterprise	NOUN
ftr-443	1358	16	professor	professor	PROPN
ftr-443	1358	17	yin	yin	PROPN
ftr-443	1358	18	,	,	PUNCT
ftr-443	1358	19	in	in	ADP
ftr-443	1358	20	his	his	PRON
ftr-443	1358	21	excellent	excellent	ADJ
ftr-443	1358	22	article	article	NOUN
ftr-443	1358	23	published	publish	VERB
ftr-443	1358	24	in	in	ADP
ftr-443	1358	25	this	this	DET
ftr-443	1358	26	issue	issue	NOUN
ftr-443	1358	27	,	,	PUNCT
ftr-443	1358	28	endorses	endorse	VERB
ftr-443	1358	29	the	the	DET
ftr-443	1358	30	concept	concept	NOUN
ftr-443	1358	31	that	that	SCONJ
ftr-443	1358	32	all	all	DET
ftr-443	1358	33	pbfs	pbfs	NOUN
ftr-443	1358	34	,	,	PUNCT
ftr-443	1358	35	regardless	regardless	ADV
ftr-443	1358	36	of	of	ADP
ftr-443	1358	37	organizational	organizational	ADJ
ftr-443	1358	38	form	form	NOUN
ftr-443	1358	39	and	and	CCONJ
ftr-443	1358	40	state	state	NOUN
ftr-443	1358	41	law	law	NOUN
ftr-443	1358	42	characteristics	characteristic	NOUN
ftr-443	1358	43	,	,	PUNCT
ftr-443	1358	44	should	should	AUX
ftr-443	1358	45	be	be	AUX
ftr-443	1358	46	taxed	tax	VERB
ftr-443	1358	47	as	as	ADP
ftr-443	1358	48	partnerships	partnership	NOUN
ftr-443	1358	49	under	under	ADP
ftr-443	1358	50	a	a	DET
ftr-443	1358	51	two	two	NUM
ftr-443	1358	52	track	track	NOUN
ftr-443	1358	53	elective	elective	ADJ
ftr-443	1358	54	system.18	system.18	NOUN
ftr-443	1358	55	under	under	ADP
ftr-443	1358	56	his	his	PRON
ftr-443	1358	57	proposals	proposal	NOUN
ftr-443	1358	58	,	,	PUNCT
ftr-443	1358	59	the	the	DET
ftr-443	1358	60	present	present	ADJ
ftr-443	1358	61	complex	complex	ADJ
ftr-443	1358	62	partnership	partnership	NOUN
ftr-443	1358	63	provisions	provision	NOUN
ftr-443	1358	64	would	would	AUX
ftr-443	1358	65	continue	continue	VERB
ftr-443	1358	66	to	to	PART
ftr-443	1358	67	apply	apply	VERB
ftr-443	1358	68	to	to	ADP
ftr-443	1358	69	most	most	ADJ
ftr-443	1358	70	pbfs	pbfs	NOUN
ftr-443	1358	71	,	,	PUNCT
ftr-443	1358	72	but	but	CCONJ
ftr-443	1358	73	some	some	DET
ftr-443	1358	74	(	(	PUNCT
ftr-443	1358	75	spbfs	spbfs	NOUN
ftr-443	1358	76	)	)	PUNCT
ftr-443	1358	77	would	would	AUX
ftr-443	1358	78	be	be	AUX
ftr-443	1358	79	eligible	eligible	ADJ
ftr-443	1358	80	to	to	PART
ftr-443	1358	81	elect	elect	VERB
ftr-443	1358	82	a	a	DET
ftr-443	1358	83	second	second	ADJ
ftr-443	1358	84	,	,	PUNCT
ftr-443	1358	85	simplified	simplified	ADJ
ftr-443	1358	86	system	system	NOUN
ftr-443	1358	87	,	,	PUNCT
ftr-443	1358	88	which	which	PRON
ftr-443	1358	89	would	would	AUX
ftr-443	1358	90	be	be	AUX
ftr-443	1358	91	available	available	ADJ
ftr-443	1358	92	only	only	ADV
ftr-443	1358	93	if	if	SCONJ
ftr-443	1358	94	all	all	PRON
ftr-443	1358	95	of	of	ADP
ftr-443	1358	96	the	the	DET
ftr-443	1358	97	entity	entity	NOUN
ftr-443	1358	98	's	's	PART
ftr-443	1358	99	owners	owner	NOUN
ftr-443	1358	100	were	be	AUX
ftr-443	1358	101	eligible	eligible	ADJ
ftr-443	1358	102	to	to	PART
ftr-443	1358	103	own	own	VERB
ftr-443	1358	104	stock	stock	NOUN
ftr-443	1358	105	under	under	ADP
ftr-443	1358	106	present	present	NOUN
ftr-443	1358	107	s	s	PART
ftr-443	1358	108	rules	rule	NOUN
ftr-443	1358	109	.	.	PUNCT
ftr-443	1359	1	under	under	ADP
ftr-443	1359	2	the	the	DET
ftr-443	1359	3	spbf	spbf	ADJ
ftr-443	1359	4	system	system	NOUN
ftr-443	1359	5	,	,	PUNCT
ftr-443	1359	6	allocations	allocation	NOUN
ftr-443	1359	7	of	of	ADP
ftr-443	1359	8	income	income	NOUN
ftr-443	1359	9	and	and	CCONJ
ftr-443	1359	10	deduction	deduction	NOUN
ftr-443	1359	11	would	would	AUX
ftr-443	1359	12	generally	generally	ADV
ftr-443	1359	13	be	be	AUX
ftr-443	1359	14	in	in	ADP
ftr-443	1359	15	proportion	proportion	NOUN
ftr-443	1359	16	to	to	ADP
ftr-443	1359	17	the	the	DET
ftr-443	1359	18	owners	owner	NOUN
ftr-443	1359	19	'	'	PART
ftr-443	1359	20	percentage	percentage	NOUN
ftr-443	1359	21	interests	interest	NOUN
ftr-443	1359	22	.	.	PUNCT
ftr-443	1360	1	preferred	preferred	ADJ
ftr-443	1360	2	interests	interest	NOUN
ftr-443	1360	3	,	,	PUNCT
ftr-443	1360	4	which	which	PRON
ftr-443	1360	5	would	would	AUX
ftr-443	1360	6	have	have	VERB
ftr-443	1360	7	varying	vary	VERB
ftr-443	1360	8	priorities	priority	NOUN
ftr-443	1360	9	as	as	ADP
ftr-443	1360	10	to	to	ADP
ftr-443	1360	11	repayment	repayment	NOUN
ftr-443	1360	12	and	and	CCONJ
ftr-443	1360	13	claims	claim	NOUN
ftr-443	1360	14	on	on	ADP
ftr-443	1360	15	assets	asset	NOUN
ftr-443	1360	16	,	,	PUNCT
ftr-443	1360	17	would	would	AUX
ftr-443	1360	18	be	be	AUX
ftr-443	1360	19	permitted	permit	VERB
ftr-443	1360	20	under	under	ADP
ftr-443	1360	21	a	a	DET
ftr-443	1360	22	cash	cash	NOUN
ftr-443	1360	23	method	method	NOUN
ftr-443	1360	24	system	system	NOUN
ftr-443	1360	25	of	of	ADP
ftr-443	1360	26	income	income	NOUN
ftr-443	1360	27	to	to	ADP
ftr-443	1360	28	the	the	DET
ftr-443	1360	29	payee	payee	NOUN
ftr-443	1360	30	and	and	CCONJ
ftr-443	1360	31	income	income	NOUN
ftr-443	1360	32	reduction	reduction	NOUN
ftr-443	1360	33	to	to	ADP
ftr-443	1360	34	the	the	DET
ftr-443	1360	35	payor	payor	NOUN
ftr-443	1360	36	.	.	PUNCT
ftr-443	1361	1	the	the	DET
ftr-443	1361	2	present	present	ADJ
ftr-443	1361	3	liability	liability	NOUN
ftr-443	1361	4	rules	rule	NOUN
ftr-443	1361	5	under	under	ADP
ftr-443	1361	6	section	section	NOUN
ftr-443	1361	7	752	752	NUM
ftr-443	1361	8	would	would	AUX
ftr-443	1361	9	apply	apply	VERB
ftr-443	1361	10	.	.	PUNCT
ftr-443	1362	1	contributions	contribution	NOUN
ftr-443	1362	2	to	to	ADP
ftr-443	1362	3	an	an	DET
ftr-443	1362	4	spbf	spbf	NOUN
ftr-443	1362	5	would	would	AUX
ftr-443	1362	6	be	be	AUX
ftr-443	1362	7	handled	handle	VERB
ftr-443	1362	8	similarly	similarly	ADV
ftr-443	1362	9	to	to	ADP
ftr-443	1362	10	the	the	DET
ftr-443	1362	11	treatment	treatment	NOUN
ftr-443	1362	12	under	under	ADP
ftr-443	1362	13	section	section	NOUN
ftr-443	1362	14	351	351	NUM
ftr-443	1362	15	,	,	PUNCT
ftr-443	1362	16	except	except	SCONJ
ftr-443	1362	17	that	that	SCONJ
ftr-443	1362	18	there	there	PRON
ftr-443	1362	19	would	would	AUX
ftr-443	1362	20	be	be	AUX
ftr-443	1362	21	no	no	DET
ftr-443	1362	22	control	control	NOUN
ftr-443	1362	23	requirement	requirement	NOUN
ftr-443	1362	24	.	.	PUNCT
ftr-443	1363	1	section	section	NOUN
ftr-443	1363	2	704(c	704(c	PROPN
ftr-443	1363	3	)	)	PUNCT
ftr-443	1363	4	would	would	AUX
ftr-443	1363	5	not	not	PART
ftr-443	1363	6	apply	apply	VERB
ftr-443	1363	7	to	to	ADP
ftr-443	1363	8	spbfs	spbfs	NOUN
ftr-443	1363	9	,	,	PUNCT
ftr-443	1363	10	removing	remove	VERB
ftr-443	1363	11	much	much	ADJ
ftr-443	1363	12	complexity	complexity	NOUN
ftr-443	1363	13	.	.	PUNCT
ftr-443	1364	1	spbf	spbf	ADJ
ftr-443	1364	2	owners	owner	NOUN
ftr-443	1364	3	would	would	AUX
ftr-443	1364	4	recognize	recognize	VERB
ftr-443	1364	5	gain	gain	NOUN
ftr-443	1364	6	on	on	ADP
ftr-443	1364	7	nonliquidating	nonliquidate	VERB
ftr-443	1364	8	distributions	distribution	NOUN
ftr-443	1364	9	to	to	ADP
ftr-443	1364	10	the	the	DET
ftr-443	1364	11	extent	extent	NOUN
ftr-443	1364	12	that	that	SCONJ
ftr-443	1364	13	the	the	DET
ftr-443	1364	14	value	value	NOUN
ftr-443	1364	15	of	of	ADP
ftr-443	1364	16	the	the	DET
ftr-443	1364	17	distribution	distribution	NOUN
ftr-443	1364	18	(	(	PUNCT
ftr-443	1364	19	including	include	VERB
ftr-443	1364	20	cash	cash	NOUN
ftr-443	1364	21	)	)	PUNCT
ftr-443	1364	22	exceeds	exceed	VERB
ftr-443	1364	23	the	the	DET
ftr-443	1364	24	basis	basis	NOUN
ftr-443	1364	25	of	of	ADP
ftr-443	1364	26	the	the	DET
ftr-443	1364	27	distributee	distributee	NOUN
ftr-443	1364	28	's	's	PART
ftr-443	1364	29	ownership	ownership	NOUN
ftr-443	1364	30	interest	interest	NOUN
ftr-443	1364	31	,	,	PUNCT
ftr-443	1364	32	but	but	CCONJ
ftr-443	1364	33	no	no	DET
ftr-443	1364	34	loss	loss	NOUN
ftr-443	1364	35	would	would	AUX
ftr-443	1364	36	be	be	AUX
ftr-443	1364	37	recognized	recognize	VERB
ftr-443	1364	38	.	.	PUNCT
ftr-443	1365	1	a	a	DET
ftr-443	1365	2	liquidating	liquidate	VERB
ftr-443	1365	3	distribution	distribution	NOUN
ftr-443	1365	4	would	would	AUX
ftr-443	1365	5	be	be	AUX
ftr-443	1365	6	treated	treat	VERB
ftr-443	1365	7	as	as	ADP
ftr-443	1365	8	a	a	DET
ftr-443	1365	9	sale	sale	NOUN
ftr-443	1365	10	or	or	CCONJ
ftr-443	1365	11	exchange	exchange	NOUN
ftr-443	1365	12	of	of	ADP
ftr-443	1365	13	the	the	DET
ftr-443	1365	14	ownership	ownership	NOUN
ftr-443	1365	15	interest	interest	NOUN
ftr-443	1365	16	.	.	PUNCT
ftr-443	1366	1	the	the	DET
ftr-443	1366	2	entity	entity	NOUN
ftr-443	1366	3	would	would	AUX
ftr-443	1366	4	recognize	recognize	VERB
ftr-443	1366	5	gain	gain	NOUN
ftr-443	1366	6	on	on	ADP
ftr-443	1366	7	distributing	distribute	VERB
ftr-443	1366	8	appreciated	appreciated	ADJ
ftr-443	1366	9	property	property	NOUN
ftr-443	1366	10	unless	unless	SCONJ
ftr-443	1366	11	the	the	DET
ftr-443	1366	12	distribution	distribution	NOUN
ftr-443	1366	13	effected	effect	VERB
ftr-443	1366	14	a	a	DET
ftr-443	1366	15	"	"	PUNCT
ftr-443	1366	16	mere	mere	ADJ
ftr-443	1366	17	change	change	NOUN
ftr-443	1366	18	in	in	ADP
ftr-443	1366	19	form	form	NOUN
ftr-443	1366	20	,	,	PUNCT
ftr-443	1366	21	"	"	PUNCT
ftr-443	1366	22	as	as	SCONJ
ftr-443	1366	23	such	such	ADJ
ftr-443	1366	24	phrase	phrase	NOUN
ftr-443	1366	25	would	would	AUX
ftr-443	1366	26	be	be	AUX
ftr-443	1366	27	defined	define	VERB
ftr-443	1366	28	,	,	PUNCT
ftr-443	1366	29	subject	subject	ADJ
ftr-443	1366	30	to	to	ADP
ftr-443	1366	31	an	an	DET
ftr-443	1366	32	election	election	NOUN
ftr-443	1366	33	out	out	ADP
ftr-443	1366	34	.	.	PUNCT
ftr-443	1367	1	entity	entity	NOUN
ftr-443	1367	2	recognition	recognition	NOUN
ftr-443	1367	3	of	of	ADP
ftr-443	1367	4	gain	gain	NOUN
ftr-443	1367	5	on	on	ADP
ftr-443	1367	6	distributions	distribution	NOUN
ftr-443	1367	7	in	in	ADP
ftr-443	1367	8	kind	kind	NOUN
ftr-443	1367	9	would	would	AUX
ftr-443	1367	10	render	render	VERB
ftr-443	1367	11	unnecessary	unnecessary	ADJ
ftr-443	1367	12	numerous	numerous	ADJ
ftr-443	1367	13	antishifting	antishifting	NOUN
ftr-443	1367	14	rules	rule	NOUN
ftr-443	1367	15	of	of	ADP
ftr-443	1367	16	subchapter	subchapter	NOUN
ftr-443	1367	17	k.	k.	NOUN
ftr-443	1368	1	the	the	DET
ftr-443	1368	2	collapsible	collapsible	ADJ
ftr-443	1368	3	asset	asset	NOUN
ftr-443	1368	4	rules	rule	NOUN
ftr-443	1368	5	of	of	ADP
ftr-443	1368	6	section	section	NOUN
ftr-443	1368	7	751	751	NUM
ftr-443	1368	8	and	and	CCONJ
ftr-443	1368	9	section	section	NOUN
ftr-443	1368	10	341	341	NUM
ftr-443	1368	11	would	would	AUX
ftr-443	1368	12	not	not	PART
ftr-443	1368	13	apply	apply	VERB
ftr-443	1368	14	to	to	ADP
ftr-443	1368	15	spbfs	spbfs	NOUN
ftr-443	1368	16	.	.	PUNCT
ftr-443	1369	1	section	section	NOUN
ftr-443	1369	2	754	754	NUM
ftr-443	1369	3	is	be	AUX
ftr-443	1369	4	also	also	ADV
ftr-443	1369	5	outside	outside	ADP
ftr-443	1369	6	of	of	ADP
ftr-443	1369	7	the	the	DET
ftr-443	1369	8	spbf	spbf	ADJ
ftr-443	1369	9	system	system	NOUN
ftr-443	1369	10	.	.	PUNCT
ftr-443	1370	1	the	the	DET
ftr-443	1370	2	idea	idea	NOUN
ftr-443	1370	3	of	of	ADP
ftr-443	1370	4	taxing	tax	VERB
ftr-443	1370	5	all	all	DET
ftr-443	1370	6	pbfs	pbfs	NOUN
ftr-443	1370	7	under	under	ADP
ftr-443	1370	8	a	a	DET
ftr-443	1370	9	single	single	ADJ
ftr-443	1370	10	tax	tax	NOUN
ftr-443	1370	11	system	system	NOUN
ftr-443	1370	12	has	have	VERB
ftr-443	1370	13	strong	strong	ADJ
ftr-443	1370	14	appeal	appeal	NOUN
ftr-443	1370	15	.	.	PUNCT
ftr-443	1371	1	it	it	PRON
ftr-443	1371	2	recognizes	recognize	VERB
ftr-443	1371	3	that	that	SCONJ
ftr-443	1371	4	present	present	ADJ
ftr-443	1371	5	law	law	NOUN
ftr-443	1371	6	imposes	impose	VERB
ftr-443	1371	7	unfair	unfair	ADJ
ftr-443	1371	8	burdens	burden	NOUN
ftr-443	1371	9	and	and	CCONJ
ftr-443	1371	10	detriments	detriment	NOUN
ftr-443	1371	11	on	on	ADP
ftr-443	1371	12	corporations	corporation	NOUN
ftr-443	1371	13	and	and	CCONJ
ftr-443	1371	14	their	their	PRON
ftr-443	1371	15	shareholders	shareholder	NOUN
ftr-443	1371	16	.	.	PUNCT
ftr-443	1372	1	the	the	DET
ftr-443	1372	2	earnings	earning	NOUN
ftr-443	1372	3	of	of	ADP
ftr-443	1372	4	a	a	DET
ftr-443	1372	5	c	c	NOUN
ftr-443	1372	6	corporation	corporation	NOUN
ftr-443	1372	7	are	be	AUX
ftr-443	1372	8	potentially	potentially	ADV
ftr-443	1372	9	subject	subject	ADJ
ftr-443	1372	10	to	to	ADP
ftr-443	1372	11	double	double	ADJ
ftr-443	1372	12	taxation	taxation	NOUN
ftr-443	1372	13	,	,	PUNCT
ftr-443	1372	14	and	and	CCONJ
ftr-443	1372	15	a	a	DET
ftr-443	1372	16	c	c	NOUN
ftr-443	1372	17	corporation	corporation	PROPN
ftr-443	1372	18	pbf	pbf	PROPN
ftr-443	1372	19	is	be	AUX
ftr-443	1372	20	thus	thus	ADV
ftr-443	1372	21	faced	face	VERB
ftr-443	1372	22	with	with	ADP
ftr-443	1372	23	trying	try	VERB
ftr-443	1372	24	to	to	PART
ftr-443	1372	25	avoid	avoid	VERB
ftr-443	1372	26	a	a	DET
ftr-443	1372	27	second	second	ADJ
ftr-443	1372	28	round	round	NOUN
ftr-443	1372	29	of	of	ADP
ftr-443	1372	30	taxation	taxation	NOUN
ftr-443	1372	31	.	.	PUNCT
ftr-443	1373	1	the	the	DET
ftr-443	1373	2	subchapter	subchapter	NOUN
ftr-443	1373	3	s	s	PART
ftr-443	1373	4	restrictions	restriction	NOUN
ftr-443	1373	5	and	and	CCONJ
ftr-443	1373	6	c	c	X
ftr-443	1373	7	to	to	ADP
ftr-443	1373	8	s	s	PRON
ftr-443	1373	9	conversion	conversion	NOUN
ftr-443	1373	10	problems	problem	NOUN
ftr-443	1373	11	strongly	strongly	ADV
ftr-443	1373	12	advantage	advantage	VERB
ftr-443	1373	13	the	the	DET
ftr-443	1373	14	partnership	partnership	NOUN
ftr-443	1373	15	over	over	ADP
ftr-443	1373	16	s	s	PART
ftr-443	1373	17	status	status	NOUN
ftr-443	1373	18	.	.	PUNCT
ftr-443	1374	1	so	so	ADV
ftr-443	1374	2	,	,	PUNCT
ftr-443	1374	3	should	should	AUX
ftr-443	1374	4	all	all	DET
ftr-443	1374	5	pbf	pbf	NOUN
ftr-443	1374	6	's	's	PART
ftr-443	1374	7	be	be	AUX
ftr-443	1374	8	taxed	tax	VERB
ftr-443	1374	9	as	as	ADP
ftr-443	1374	10	partnerships	partnership	NOUN
ftr-443	1374	11	?	?	PUNCT
ftr-443	1375	1	professor	professor	NOUN
ftr-443	1375	2	yin	yin	PROPN
ftr-443	1375	3	answers	answer	VERB
ftr-443	1375	4	this	this	DET
ftr-443	1375	5	question	question	NOUN
ftr-443	1375	6	in	in	ADP
ftr-443	1375	7	the	the	DET
ftr-443	1375	8	affirmative	affirmative	NOUN
ftr-443	1375	9	,	,	PUNCT
ftr-443	1375	10	but	but	CCONJ
ftr-443	1375	11	he	he	PRON
ftr-443	1375	12	proposes	propose	VERB
ftr-443	1375	13	a	a	DET
ftr-443	1375	14	two	two	NUM
ftr-443	1375	15	track	track	NOUN
ftr-443	1375	16	system	system	NOUN
ftr-443	1375	17	-	-	PUNCT
ftr-443	1375	18	keeping	keep	VERB
ftr-443	1375	19	subchapter	subchapter	NOUN
ftr-443	1375	20	k	k	NOUN
ftr-443	1375	21	in	in	ADP
ftr-443	1375	22	place	place	NOUN
ftr-443	1375	23	for	for	ADP
ftr-443	1375	24	pbfs	pbfs	NOUN
ftr-443	1375	25	while	while	SCONJ
ftr-443	1375	26	allowing	allow	VERB
ftr-443	1375	27	some	some	DET
ftr-443	1375	28	pbfs	pbfs	NOUN
ftr-443	1375	29	to	to	PART
ftr-443	1375	30	elect	elect	VERB
ftr-443	1375	31	a	a	DET
ftr-443	1375	32	simplified	simplified	ADJ
ftr-443	1375	33	version	version	NOUN
ftr-443	1375	34	of	of	ADP
ftr-443	1375	35	subchapter	subchapter	NOUN
ftr-443	1375	36	k.	k.	PROPN
ftr-443	1375	37	218	218	NUM
ftr-443	1375	38	.	.	PUNCT
ftr-443	1376	1	see	see	VERB
ftr-443	1376	2	generally	generally	ADV
ftr-443	1376	3	yin	yin	NOUN
ftr-443	1376	4	,	,	PUNCT
ftr-443	1376	5	supra	supra	PROPN
ftr-443	1376	6	note	note	NOUN
ftr-443	1376	7	1	1	NUM
ftr-443	1376	8	.	.	PUNCT
ftr-443	1377	1	[	[	X
ftr-443	1377	2	vol	vol	NOUN
ftr-443	1377	3	4.3	4.3	NUM
ftr-443	1377	4	benefits	benefit	NOUN
ftr-443	1377	5	and	and	CCONJ
ftr-443	1377	6	burdens	burden	NOUN
ftr-443	1377	7	of	of	ADP
ftr-443	1377	8	subchapter	subchapter	NOUN
ftr-443	1377	9	s	s	PART
ftr-443	1377	10	this	this	DET
ftr-443	1377	11	author	author	NOUN
ftr-443	1377	12	believes	believe	VERB
ftr-443	1377	13	that	that	SCONJ
ftr-443	1377	14	all	all	DET
ftr-443	1377	15	pbfs	pbfs	NOUN
ftr-443	1377	16	should	should	AUX
ftr-443	1377	17	be	be	AUX
ftr-443	1377	18	taxed	tax	VERB
ftr-443	1377	19	under	under	ADP
ftr-443	1377	20	a	a	DET
ftr-443	1377	21	single	single	ADJ
ftr-443	1377	22	system	system	NOUN
ftr-443	1377	23	.	.	PUNCT
ftr-443	1378	1	a	a	DET
ftr-443	1378	2	two	two	NUM
ftr-443	1378	3	-	-	PUNCT
ftr-443	1378	4	system	system	NOUN
ftr-443	1378	5	partnership	partnership	NOUN
ftr-443	1378	6	world	world	NOUN
ftr-443	1378	7	retains	retain	VERB
ftr-443	1378	8	the	the	DET
ftr-443	1378	9	complexity	complexity	NOUN
ftr-443	1378	10	of	of	ADP
ftr-443	1378	11	present	present	ADJ
ftr-443	1378	12	law	law	NOUN
ftr-443	1378	13	,	,	PUNCT
ftr-443	1378	14	needlessly	needlessly	ADV
ftr-443	1378	15	interjects	interject	VERB
ftr-443	1378	16	elective	elective	ADJ
ftr-443	1378	17	rules	rule	NOUN
ftr-443	1378	18	,	,	PUNCT
ftr-443	1378	19	and	and	CCONJ
ftr-443	1378	20	would	would	AUX
ftr-443	1378	21	produce	produce	VERB
ftr-443	1378	22	a	a	DET
ftr-443	1378	23	new	new	ADJ
ftr-443	1378	24	set	set	NOUN
ftr-443	1378	25	of	of	ADP
ftr-443	1378	26	imponderables	imponderable	NOUN
ftr-443	1378	27	.	.	PUNCT
ftr-443	1379	1	particularly	particularly	ADV
ftr-443	1379	2	troublesome	troublesome	ADJ
ftr-443	1379	3	would	would	AUX
ftr-443	1379	4	be	be	AUX
ftr-443	1379	5	electing	elect	VERB
ftr-443	1379	6	-	-	PUNCT
ftr-443	1379	7	in	in	ADP
ftr-443	1379	8	and	and	CCONJ
ftr-443	1379	9	electing	elect	VERB
ftr-443	1379	10	-	-	PUNCT
ftr-443	1379	11	out	out	ADP
ftr-443	1379	12	strategies	strategy	NOUN
ftr-443	1379	13	and	and	CCONJ
ftr-443	1379	14	outcomes	outcome	NOUN
ftr-443	1379	15	for	for	ADP
ftr-443	1379	16	pbfs	pbfs	NOUN
ftr-443	1379	17	that	that	PRON
ftr-443	1379	18	are	be	AUX
ftr-443	1379	19	advantaged	advantage	VERB
ftr-443	1379	20	by	by	ADP
ftr-443	1379	21	moving	move	VERB
ftr-443	1379	22	back	back	ADV
ftr-443	1379	23	and	and	CCONJ
ftr-443	1379	24	forth	forth	ADV
ftr-443	1379	25	from	from	ADP
ftr-443	1379	26	the	the	DET
ftr-443	1379	27	more	more	ADV
ftr-443	1379	28	complex	complex	ADJ
ftr-443	1379	29	default	default	NOUN
ftr-443	1379	30	system	system	NOUN
ftr-443	1379	31	.	.	PUNCT
ftr-443	1380	1	the	the	DET
ftr-443	1380	2	two	two	NUM
ftr-443	1380	3	system	system	NOUN
ftr-443	1380	4	proposal	proposal	NOUN
ftr-443	1380	5	does	do	AUX
ftr-443	1380	6	recognize	recognize	VERB
ftr-443	1380	7	,	,	PUNCT
ftr-443	1380	8	however	however	ADV
ftr-443	1380	9	,	,	PUNCT
ftr-443	1380	10	that	that	SCONJ
ftr-443	1380	11	the	the	DET
ftr-443	1380	12	present	present	ADJ
ftr-443	1380	13	law	law	NOUN
ftr-443	1380	14	governing	govern	VERB
ftr-443	1380	15	the	the	DET
ftr-443	1380	16	taxation	taxation	NOUN
ftr-443	1380	17	of	of	ADP
ftr-443	1380	18	partnerships	partnership	NOUN
ftr-443	1380	19	is	be	AUX
ftr-443	1380	20	strongly	strongly	ADV
ftr-443	1380	21	favored	favor	VERB
ftr-443	1380	22	by	by	ADP
ftr-443	1380	23	many	many	ADJ
ftr-443	1380	24	sectors	sector	NOUN
ftr-443	1380	25	of	of	ADP
ftr-443	1380	26	our	our	PRON
ftr-443	1380	27	business	business	NOUN
ftr-443	1380	28	and	and	CCONJ
ftr-443	1380	29	investment	investment	NOUN
ftr-443	1380	30	communities	community	NOUN
ftr-443	1380	31	.	.	PUNCT
ftr-443	1381	1	the	the	DET
ftr-443	1381	2	ability	ability	NOUN
ftr-443	1381	3	to	to	PART
ftr-443	1381	4	make	make	VERB
ftr-443	1381	5	special	special	ADJ
ftr-443	1381	6	allocations	allocation	NOUN
ftr-443	1381	7	and	and	CCONJ
ftr-443	1381	8	have	have	VERB
ftr-443	1381	9	debt	debt	NOUN
ftr-443	1381	10	,	,	PUNCT
ftr-443	1381	11	even	even	ADV
ftr-443	1381	12	nonrecourse	nonrecourse	NOUN
ftr-443	1381	13	debt	debt	NOUN
ftr-443	1381	14	,	,	PUNCT
ftr-443	1381	15	reflected	reflect	VERB
ftr-443	1381	16	in	in	ADP
ftr-443	1381	17	outside	outside	ADJ
ftr-443	1381	18	basis	basis	NOUN
ftr-443	1381	19	are	be	AUX
ftr-443	1381	20	significant	significant	ADJ
ftr-443	1381	21	factors	factor	NOUN
ftr-443	1381	22	in	in	ADP
ftr-443	1381	23	the	the	DET
ftr-443	1381	24	use	use	NOUN
ftr-443	1381	25	of	of	ADP
ftr-443	1381	26	partnerships	partnership	NOUN
ftr-443	1381	27	.	.	PUNCT
ftr-443	1382	1	however	however	ADV
ftr-443	1382	2	,	,	PUNCT
ftr-443	1382	3	the	the	DET
ftr-443	1382	4	complexity	complexity	NOUN
ftr-443	1382	5	of	of	ADP
ftr-443	1382	6	the	the	DET
ftr-443	1382	7	partnership	partnership	NOUN
ftr-443	1382	8	rules	rule	NOUN
ftr-443	1382	9	,	,	PUNCT
ftr-443	1382	10	especially	especially	ADV
ftr-443	1382	11	in	in	ADP
ftr-443	1382	12	tracking	tracking	NOUN
ftr-443	1382	13	and	and	CCONJ
ftr-443	1382	14	adjusting	adjust	VERB
ftr-443	1382	15	capital	capital	NOUN
ftr-443	1382	16	accounts	account	NOUN
ftr-443	1382	17	,	,	PUNCT
ftr-443	1382	18	detracts	detract	VERB
ftr-443	1382	19	from	from	ADP
ftr-443	1382	20	its	its	PRON
ftr-443	1382	21	usefulness	usefulness	NOUN
ftr-443	1382	22	as	as	ADP
ftr-443	1382	23	the	the	DET
ftr-443	1382	24	passthrough	passthrough	NOUN
ftr-443	1382	25	paradigm	paradigm	NOUN
ftr-443	1382	26	for	for	ADP
ftr-443	1382	27	all	all	DET
ftr-443	1382	28	pbfs	pbfs	NOUN
ftr-443	1382	29	.	.	PUNCT
ftr-443	1383	1	in	in	ADP
ftr-443	1383	2	many	many	ADJ
ftr-443	1383	3	instances	instance	NOUN
ftr-443	1383	4	,	,	PUNCT
ftr-443	1383	5	highly	highly	ADV
ftr-443	1383	6	sophisticated	sophisticated	ADJ
ftr-443	1383	7	tax	tax	NOUN
ftr-443	1383	8	professionals	professional	NOUN
ftr-443	1383	9	disagree	disagree	VERB
ftr-443	1383	10	on	on	ADP
ftr-443	1383	11	the	the	DET
ftr-443	1383	12	proper	proper	ADJ
ftr-443	1383	13	treatment	treatment	NOUN
ftr-443	1383	14	under	under	ADP
ftr-443	1383	15	present	present	ADJ
ftr-443	1383	16	law	law	NOUN
ftr-443	1383	17	of	of	ADP
ftr-443	1383	18	special	special	ADJ
ftr-443	1383	19	allocations	allocation	NOUN
ftr-443	1383	20	,	,	PUNCT
ftr-443	1383	21	gain	gain	VERB
ftr-443	1383	22	chargebacks	chargeback	NOUN
ftr-443	1383	23	,	,	PUNCT
ftr-443	1383	24	negative	negative	ADJ
ftr-443	1383	25	capital	capital	NOUN
ftr-443	1383	26	accounts	account	NOUN
ftr-443	1383	27	,	,	PUNCT
ftr-443	1383	28	and	and	CCONJ
ftr-443	1383	29	the	the	DET
ftr-443	1383	30	application	application	NOUN
ftr-443	1383	31	of	of	ADP
ftr-443	1383	32	section	section	NOUN
ftr-443	1383	33	704(c	704(c	PROPN
ftr-443	1383	34	)	)	PUNCT
ftr-443	1383	35	,	,	PUNCT
ftr-443	1383	36	producing	produce	VERB
ftr-443	1383	37	much	much	ADJ
ftr-443	1383	38	uncertainty	uncertainty	NOUN
ftr-443	1383	39	and	and	CCONJ
ftr-443	1383	40	potential	potential	NOUN
ftr-443	1383	41	for	for	ADP
ftr-443	1383	42	abuse	abuse	NOUN
ftr-443	1383	43	.	.	PUNCT
ftr-443	1384	1	many	many	ADJ
ftr-443	1384	2	provisions	provision	NOUN
ftr-443	1384	3	of	of	ADP
ftr-443	1384	4	subchapter	subchapter	NOUN
ftr-443	1384	5	k	k	PROPN
ftr-443	1384	6	are	be	AUX
ftr-443	1384	7	frequently	frequently	ADV
ftr-443	1384	8	overlooked	overlook	VERB
ftr-443	1384	9	or	or	CCONJ
ftr-443	1384	10	ignored	ignore	VERB
ftr-443	1384	11	.	.	PUNCT
ftr-443	1385	1	decisions	decision	NOUN
ftr-443	1385	2	on	on	ADP
ftr-443	1385	3	proper	proper	ADJ
ftr-443	1385	4	tax	tax	NOUN
ftr-443	1385	5	reporting	reporting	NOUN
ftr-443	1385	6	are	be	AUX
ftr-443	1385	7	often	often	ADV
ftr-443	1385	8	made	make	VERB
ftr-443	1385	9	subjectively	subjectively	ADV
ftr-443	1385	10	,	,	PUNCT
ftr-443	1385	11	based	base	VERB
ftr-443	1385	12	on	on	ADP
ftr-443	1385	13	an	an	DET
ftr-443	1385	14	accountant	accountant	NOUN
ftr-443	1385	15	's	's	PART
ftr-443	1385	16	sense	sense	NOUN
ftr-443	1385	17	of	of	ADP
ftr-443	1385	18	fairness	fairness	NOUN
ftr-443	1385	19	or	or	CCONJ
ftr-443	1385	20	equity	equity	NOUN
ftr-443	1385	21	.	.	PUNCT
ftr-443	1386	1	subchapter	subchapter	PROPN
ftr-443	1386	2	k	k	PROPN
ftr-443	1386	3	,	,	PUNCT
ftr-443	1386	4	despite	despite	SCONJ
ftr-443	1386	5	its	its	PRON
ftr-443	1386	6	flexibility	flexibility	NOUN
ftr-443	1386	7	,	,	PUNCT
ftr-443	1386	8	is	be	AUX
ftr-443	1386	9	too	too	ADV
ftr-443	1386	10	complicated	complicated	ADJ
ftr-443	1386	11	,	,	PUNCT
ftr-443	1386	12	and	and	CCONJ
ftr-443	1386	13	it	it	PRON
ftr-443	1386	14	should	should	AUX
ftr-443	1386	15	be	be	AUX
ftr-443	1386	16	streamlined	streamline	VERB
ftr-443	1386	17	as	as	ADV
ftr-443	1386	18	far	far	ADV
ftr-443	1386	19	as	as	SCONJ
ftr-443	1386	20	it	it	PRON
ftr-443	1386	21	can	can	AUX
ftr-443	1386	22	be	be	AUX
ftr-443	1386	23	without	without	ADP
ftr-443	1386	24	significantly	significantly	ADV
ftr-443	1386	25	compromising	compromise	VERB
ftr-443	1386	26	the	the	DET
ftr-443	1386	27	basic	basic	ADJ
ftr-443	1386	28	goal	goal	NOUN
ftr-443	1386	29	of	of	ADP
ftr-443	1386	30	taxing	tax	VERB
ftr-443	1386	31	entity	entity	NOUN
ftr-443	1386	32	income	income	NOUN
ftr-443	1386	33	to	to	ADP
ftr-443	1386	34	its	its	PRON
ftr-443	1386	35	beneficial	beneficial	ADJ
ftr-443	1386	36	owner	owner	NOUN
ftr-443	1386	37	.	.	PUNCT
ftr-443	1387	1	these	these	DET
ftr-443	1387	2	simplifications	simplification	NOUN
ftr-443	1387	3	should	should	AUX
ftr-443	1387	4	include	include	VERB
ftr-443	1387	5	,	,	PUNCT
ftr-443	1387	6	for	for	ADP
ftr-443	1387	7	example	example	NOUN
ftr-443	1387	8	,	,	PUNCT
ftr-443	1387	9	disallowing	disallow	VERB
ftr-443	1387	10	special	special	ADJ
ftr-443	1387	11	allocations	allocation	NOUN
ftr-443	1387	12	,	,	PUNCT
ftr-443	1387	13	removing	remove	VERB
ftr-443	1387	14	nonrecourse	nonrecourse	NOUN
ftr-443	1387	15	debt	debt	NOUN
ftr-443	1387	16	from	from	ADP
ftr-443	1387	17	outside	outside	ADJ
ftr-443	1387	18	basis	basis	NOUN
ftr-443	1387	19	,	,	PUNCT
ftr-443	1387	20	and	and	CCONJ
ftr-443	1387	21	taxing	tax	VERB
ftr-443	1387	22	nonliquidating	nonliquidate	VERB
ftr-443	1387	23	distributions	distribution	NOUN
ftr-443	1387	24	of	of	ADP
ftr-443	1387	25	appreciated	appreciated	ADJ
ftr-443	1387	26	property	property	NOUN
ftr-443	1387	27	.	.	PUNCT
ftr-443	1388	1	this	this	DET
ftr-443	1388	2	author	author	NOUN
ftr-443	1388	3	's	's	PART
ftr-443	1388	4	preference	preference	NOUN
ftr-443	1388	5	is	be	AUX
ftr-443	1388	6	to	to	PART
ftr-443	1388	7	select	select	VERB
ftr-443	1388	8	the	the	DET
ftr-443	1388	9	entity	entity	NOUN
ftr-443	1388	10	,	,	PUNCT
ftr-443	1388	11	not	not	PART
ftr-443	1388	12	the	the	DET
ftr-443	1388	13	individual	individual	ADJ
ftr-443	1388	14	investor	investor	NOUN
ftr-443	1388	15	,	,	PUNCT
ftr-443	1388	16	as	as	ADP
ftr-443	1388	17	the	the	DET
ftr-443	1388	18	proper	proper	ADJ
ftr-443	1388	19	taxpayer	taxpayer	NOUN
ftr-443	1388	20	for	for	ADP
ftr-443	1388	21	pbfs	pbfs	NOUN
ftr-443	1388	22	.	.	PUNCT
ftr-443	1389	1	although	although	SCONJ
ftr-443	1389	2	an	an	DET
ftr-443	1389	3	entity	entity	NOUN
ftr-443	1389	4	tax	tax	NOUN
ftr-443	1389	5	does	do	AUX
ftr-443	1389	6	not	not	PART
ftr-443	1389	7	directly	directly	ADV
ftr-443	1389	8	fall	fall	VERB
ftr-443	1389	9	on	on	ADP
ftr-443	1389	10	the	the	DET
ftr-443	1389	11	beneficial	beneficial	ADJ
ftr-443	1389	12	owner	owner	NOUN
ftr-443	1389	13	of	of	ADP
ftr-443	1389	14	the	the	DET
ftr-443	1389	15	income	income	NOUN
ftr-443	1389	16	,	,	PUNCT
ftr-443	1389	17	it	it	PRON
ftr-443	1389	18	is	be	AUX
ftr-443	1389	19	imposed	impose	VERB
ftr-443	1389	20	on	on	ADP
ftr-443	1389	21	the	the	DET
ftr-443	1389	22	person	person	NOUN
ftr-443	1389	23	that	that	PRON
ftr-443	1389	24	realizes	realize	VERB
ftr-443	1389	25	the	the	DET
ftr-443	1389	26	profits	profit	NOUN
ftr-443	1389	27	.	.	PUNCT
ftr-443	1390	1	the	the	DET
ftr-443	1390	2	treasury	treasury	NOUN
ftr-443	1390	3	's	's	PART
ftr-443	1390	4	cbit	cbit	NOUN
ftr-443	1390	5	model	model	NOUN
ftr-443	1390	6	,	,	PUNCT
ftr-443	1390	7	with	with	ADP
ftr-443	1390	8	the	the	DET
ftr-443	1390	9	basis	basis	NOUN
ftr-443	1390	10	add	add	VERB
ftr-443	1390	11	-	-	PUNCT
ftr-443	1390	12	on	on	ADP
ftr-443	1390	13	drip	drip	NOUN
ftr-443	1390	14	,	,	PUNCT
ftr-443	1390	15	is	be	AUX
ftr-443	1390	16	a	a	DET
ftr-443	1390	17	good	good	ADJ
ftr-443	1390	18	alternative	alternative	NOUN
ftr-443	1390	19	.	.	PUNCT
ftr-443	1391	1	it	it	PRON
ftr-443	1391	2	is	be	AUX
ftr-443	1391	3	administratively	administratively	ADV
ftr-443	1391	4	manageable	manageable	ADJ
ftr-443	1391	5	because	because	SCONJ
ftr-443	1391	6	compliance	compliance	NOUN
ftr-443	1391	7	and	and	CCONJ
ftr-443	1391	8	audit	audit	NOUN
ftr-443	1391	9	issues	issue	NOUN
ftr-443	1391	10	would	would	AUX
ftr-443	1391	11	be	be	AUX
ftr-443	1391	12	resolved	resolve	VERB
ftr-443	1391	13	at	at	ADP
ftr-443	1391	14	the	the	DET
ftr-443	1391	15	entity	entity	NOUN
ftr-443	1391	16	level	level	NOUN
ftr-443	1391	17	.	.	PUNCT
ftr-443	1392	1	how	how	SCONJ
ftr-443	1392	2	does	do	AUX
ftr-443	1392	3	subchapter	subchapter	NOUN
ftr-443	1392	4	s	s	PART
ftr-443	1392	5	fit	fit	NOUN
ftr-443	1392	6	within	within	ADP
ftr-443	1392	7	the	the	DET
ftr-443	1392	8	pbf	pbf	NOUN
ftr-443	1392	9	debate	debate	NOUN
ftr-443	1392	10	?	?	PUNCT
ftr-443	1393	1	those	those	PRON
ftr-443	1393	2	who	who	PRON
ftr-443	1393	3	do	do	AUX
ftr-443	1393	4	not	not	PART
ftr-443	1393	5	favor	favor	VERB
ftr-443	1393	6	the	the	DET
ftr-443	1393	7	cbit	cbit	NOUN
ftr-443	1393	8	proposal	proposal	NOUN
ftr-443	1393	9	can	can	AUX
ftr-443	1393	10	agree	agree	VERB
ftr-443	1393	11	that	that	DET
ftr-443	1393	12	subchapter	subchapter	NOUN
ftr-443	1393	13	s	s	PART
ftr-443	1393	14	taxes	taxis	NOUN
ftr-443	1393	15	the	the	DET
ftr-443	1393	16	right	right	ADJ
ftr-443	1393	17	person	person	NOUN
ftr-443	1393	18	-	-	PUNCT
ftr-443	1393	19	the	the	DET
ftr-443	1393	20	shareholder	shareholder	NOUN
ftr-443	1393	21	.	.	PUNCT
ftr-443	1394	1	subchapter	subchapter	NOUN
ftr-443	1394	2	s	s	PART
ftr-443	1394	3	is	be	AUX
ftr-443	1394	4	less	less	ADV
ftr-443	1394	5	flexible	flexible	ADJ
ftr-443	1394	6	than	than	ADP
ftr-443	1394	7	subchapter	subchapter	NOUN
ftr-443	1394	8	k	k	NOUN
ftr-443	1394	9	,	,	PUNCT
ftr-443	1394	10	but	but	CCONJ
ftr-443	1394	11	it	it	PRON
ftr-443	1394	12	is	be	AUX
ftr-443	1394	13	much	much	ADV
ftr-443	1394	14	simpler	simple	ADJ
ftr-443	1394	15	and	and	CCONJ
ftr-443	1394	16	straightforward	straightforward	ADJ
ftr-443	1394	17	.	.	PUNCT
ftr-443	1395	1	it	it	PRON
ftr-443	1395	2	does	do	AUX
ftr-443	1395	3	not	not	PART
ftr-443	1395	4	permit	permit	VERB
ftr-443	1395	5	special	special	ADJ
ftr-443	1395	6	allocations	allocation	NOUN
ftr-443	1395	7	.	.	PUNCT
ftr-443	1396	1	it	it	PRON
ftr-443	1396	2	does	do	AUX
ftr-443	1396	3	not	not	PART
ftr-443	1396	4	suffer	suffer	VERB
ftr-443	1396	5	from	from	ADP
ftr-443	1396	6	byzantine	byzantine	ADJ
ftr-443	1396	7	rules	rule	NOUN
ftr-443	1396	8	for	for	ADP
ftr-443	1396	9	maintaining	maintain	VERB
ftr-443	1396	10	capital	capital	NOUN
ftr-443	1396	11	accounts	account	NOUN
ftr-443	1396	12	.	.	PUNCT
ftr-443	1397	1	it	it	PRON
ftr-443	1397	2	properly	properly	ADV
ftr-443	1397	3	differentiates	differentiate	VERB
ftr-443	1397	4	between	between	ADP
ftr-443	1397	5	owner	owner	NOUN
ftr-443	1397	6	debt	debt	NOUN
ftr-443	1397	7	and	and	CCONJ
ftr-443	1397	8	entity	entity	NOUN
ftr-443	1397	9	debt	debt	NOUN
ftr-443	1397	10	.	.	PUNCT
ftr-443	1398	1	unlike	unlike	ADP
ftr-443	1398	2	a	a	DET
ftr-443	1398	3	partnership	partnership	NOUN
ftr-443	1398	4	,	,	PUNCT
ftr-443	1398	5	an	an	DET
ftr-443	1398	6	s	s	NOUN
ftr-443	1398	7	corporation	corporation	NOUN
ftr-443	1398	8	can	can	AUX
ftr-443	1398	9	be	be	AUX
ftr-443	1398	10	a	a	DET
ftr-443	1398	11	party	party	NOUN
ftr-443	1398	12	to	to	ADP
ftr-443	1398	13	a	a	DET
ftr-443	1398	14	tax	tax	NOUN
ftr-443	1398	15	-	-	PUNCT
ftr-443	1398	16	free	free	ADJ
ftr-443	1398	17	reorganization	reorganization	NOUN
ftr-443	1398	18	.	.	PUNCT
ftr-443	1399	1	if	if	SCONJ
ftr-443	1399	2	subchapter	subchapter	NOUN
ftr-443	1399	3	s	s	VERB
ftr-443	1399	4	were	be	AUX
ftr-443	1399	5	to	to	PART
ftr-443	1399	6	apply	apply	VERB
ftr-443	1399	7	to	to	ADP
ftr-443	1399	8	unincorporated	unincorporated	ADJ
ftr-443	1399	9	pbfs	pbfs	NOUN
ftr-443	1399	10	,	,	PUNCT
ftr-443	1399	11	the	the	DET
ftr-443	1399	12	reorganization	reorganization	NOUN
ftr-443	1399	13	rules	rule	NOUN
ftr-443	1399	14	could	could	AUX
ftr-443	1399	15	be	be	AUX
ftr-443	1399	16	extended	extend	VERB
ftr-443	1399	17	to	to	PART
ftr-443	1399	18	encompass	encompass	VERB
ftr-443	1399	19	them	they	PRON
ftr-443	1399	20	.	.	PUNCT
ftr-443	1400	1	a	a	DET
ftr-443	1400	2	super	super	ADJ
ftr-443	1400	3	subchapter	subchapter	NOUN
ftr-443	1400	4	s	s	NOUN
ftr-443	1400	5	,	,	PUNCT
ftr-443	1400	6	which	which	PRON
ftr-443	1400	7	removes	remove	VERB
ftr-443	1400	8	many	many	ADJ
ftr-443	1400	9	of	of	ADP
ftr-443	1400	10	the	the	DET
ftr-443	1400	11	present	present	ADJ
ftr-443	1400	12	restrictions	restriction	NOUN
ftr-443	1400	13	on	on	ADP
ftr-443	1400	14	owner	owner	NOUN
ftr-443	1400	15	eligibility	eligibility	NOUN
ftr-443	1400	16	and	and	CCONJ
ftr-443	1400	17	permits	permit	VERB
ftr-443	1400	18	the	the	DET
ftr-443	1400	19	issuance	issuance	NOUN
ftr-443	1400	20	of	of	ADP
ftr-443	1400	21	simple	simple	ADJ
ftr-443	1400	22	preferred	preferred	ADJ
ftr-443	1400	23	stock	stock	NOUN
ftr-443	1400	24	,	,	PUNCT
ftr-443	1400	25	could	could	AUX
ftr-443	1400	26	satisfy	satisfy	VERB
ftr-443	1400	27	the	the	DET
ftr-443	1400	28	objectives	objective	NOUN
ftr-443	1400	29	of	of	ADP
ftr-443	1400	30	entity	entity	NOUN
ftr-443	1400	31	parity	parity	NOUN
ftr-443	1400	32	,	,	PUNCT
ftr-443	1400	33	1999	1999	NUM
ftr-443	1400	34	]	]	PUNCT
ftr-443	1400	35	338	338	NUM
ftr-443	1400	36	florida	florida	PROPN
ftr-443	1400	37	tax	tax	NOUN
ftr-443	1400	38	review	review	NOUN
ftr-443	1400	39	ivol	ivol	NOUN
ftr-443	1400	40	4:3	4:3	NUM
ftr-443	1400	41	fairness	fairness	NOUN
ftr-443	1400	42	,	,	PUNCT
ftr-443	1400	43	and	and	CCONJ
ftr-443	1400	44	simplification	simplification	NOUN
ftr-443	1400	45	and	and	CCONJ
ftr-443	1400	46	be	be	AUX
ftr-443	1400	47	a	a	DET
ftr-443	1400	48	far	far	ADV
ftr-443	1400	49	superior	superior	ADJ
ftr-443	1400	50	means	mean	NOUN
ftr-443	1400	51	of	of	ADP
ftr-443	1400	52	conduit	conduit	NOUN
ftr-443	1400	53	taxation	taxation	NOUN
ftr-443	1400	54	than	than	ADP
ftr-443	1400	55	present	present	ADJ
ftr-443	1400	56	law	law	NOUN
ftr-443	1400	57	.	.	PUNCT