Type B Tax Free Reorganization (U.S. Corporate Tax)
Summary
TLDREl script de video discute la reorganización fiscal tipo B, una transacción que permite a una corporación adquirir otra de forma fiscalmente libre, intercambiando acciones por acciones. Se ilustra con un ejemplo hipotético donde 'Flying Cat Skydiving' desea adquirir 'Surfing Kittens' sin incurrir en impuestos. Se aclara que el accionista objetivo no reconocerá ganancia y recibirá una base sustituida en las nuevas acciones, sin incremento en la base de los activos. Para calificar como reorganización fiscal tipo B, se requiere al menos el 80% de control inmediato después de la transacción y el 100% de las acciones del comprador como contrapartida. Además, se destaca que la corporación adquiriente no asume las responsabilidades del objetivo y se mencionan consideraciones importantes como el concepto de 'old and cold stock' y la posibilidad de una 'acquisición paulatina'. La reorganización tipo B es una transacción ventajosa que permite la adquisición de una corporación de forma fiscalmente libre, siempre y cuando se cumplan ciertas reglas y condiciones.
Takeaways
- 📚 Una reorganización fiscal tipo B es una transacción que permite a una corporación adquirir otra corporación de forma fiscalmente libre, sin que el objetivo, el comprador o los accionistas del objetivo paguen impuestos.
- 🔄 Se realiza un intercambio de acciones por acciones, donde el comprador ofrece sus propias acciones a cambio de las del objetivo.
- 🐱🏄 Por ejemplo, 'Flying Cat Skydiving' podría adquirir 'Surfing Kittens', una empresa que enseña a los gatos a surfear, sin pagar impuestos.
- 💯 El accionista objetivo recibe un número proporcional de acciones del comprador, manteniendo su base ajustada sin incrementarla.
- 🚫 No hay aumento de la base de los activos del objetivo, ya que no hay ganancia reconocida ni impuestos pagados.
- 🧮 Se requiere el control inmediato del 80% del objetivo después de la transacción para que se clasifique como una reorganización tipo B.
- 🏆 El comprador debe emitir el 100% de sus acciones como contrapartida; no se pueden mezclar con otras formas de pago.
- 📈 La corporación adquirida continúa operando como una subsidiaria, y el comprador no asume automáticamente las responsabilidades del objetivo.
- 📋 No se requiere la aprobación de los accionistas para una reorganización tipo B.
- 🔄 La 'old and cold stock' (acciones antiguas y frías) adquiridas con dinero no interfiere en la reorganización tipo B si no forman parte de un plan integrado.
- 🕒 Una 'adquisición paulatina' (creeping acquisition) es posible, donde se realiza un intercambio de acciones en varios períodos de tiempo, siempre y cuando forme parte de un plan integrado.
- 📝 Es importante que la adquisición no forme parte de un plan integrado que incluya pagos en efectivo previos, de lo contrario, podría afectar la clasificación como una reorganización tipo B.
Q & A
¿Qué es una reorganización fiscal tipo B?
-Una reorganización fiscal tipo B es una transacción que permite a una corporación adquirir otra corporación de manera免税 (sin impuestos), sin que el objetivo ni el comprador ni los accionistas del objetivo incurran en ningún tipo de impuesto, intercambiando acciones por acciones.
¿Cómo se realiza una reorganización fiscal tipo B?
-Se realiza intercambiando acciones de la corporación adquiriente (por ejemplo, Flying Cat Skydiving) por acciones de la corporación objetivo (por ejemplo, Surfing Kittens). El intercambio debe ser de valor equivalente para evitar que se genere un impuesto.
¿Qué significa que el accionista objetivo no reconozca ganancia en una reorganización fiscal tipo B?
-El accionista objetivo recibirá una base sustituta en las nuevas acciones que están recibiendo, lo que significa que no están subiendo su base y no están reconociendo ninguna ganancia en el intercambio de acciones.
¿Cuáles son los controles mínimos necesarios para que una transacción se califique como una reorganización fiscal tipo B?
-Se debe tener al menos el 80% de control inmediatamente después de la transacción, lo que incluye el 80% de la capacidad de voto de todas las clases de acciones con derecho a voto y el 80% de cualquier acción sin derecho a voto.
¿Qué porcentaje de las acciones debe ser consideración en una reorganización fiscal tipo B?
-El 100% de la consideración debe ser en acciones de la corporación adquiriente. No se puede mezclar con efectivo u otros elementos (boot).
¿Qué sucede con las responsabilidades de la corporación objetivo en una reorganización fiscal tipo B?
-La corporación adquiriente, como Flying Cat Skydiving, no asume automáticamente las responsabilidades de la corporación objetivo, como Surfing Kittens. Las responsabilidades de la corporación objetivo continúan siendo responsabilidades de la misma.
¿Qué es una 'adquisición reptante' y cómo se relaciona con la reorganización fiscal tipo B?
-Una adquisición reptante es un proceso en el que se adquiere gradualmente el control de la corporación objetivo a lo largo del tiempo, intercambiando acciones sin involucrar efectivo u otros elementos. Si se logra el 80% de control como parte de un plan integrado y sin elementos (boot), se puede realizar una reorganización fiscal tipo B sin problemas.
¿Qué es la 'acción vieja y fría' y cómo afecta una reorganización fiscal tipo B?
-La 'acción vieja y fría' se refiere a una parte de las acciones del objetivo que ya se había adquirido anteriormente, generalmente con efectivo. Si esta adquisición no era parte de un plan integrado para luego realizar una reorganización fiscal tipo B, no afectará la transacción.
¿Por qué no se puede tener una base incrementada en las propiedades en una reorganización fiscal tipo B?
-No se puede tener una base incrementada en las propiedades porque no se está pagando impuesto sobre ellas. Esta situación es similar a la elección de la sección 338, que permite una base incrementada, pero no se aplica en una reorganización fiscal tipo B.
¿Qué sucede con los activos de la corporación objetivo en una reorganización fiscal tipo B?
-Los activos de la corporación objetivo mantienen su base ajustada original y no se incrementa, ya que no se está pagando impuesto en la transacción.
¿Es necesario el consentimiento de los accionistas para una reorganización fiscal tipo B?
-En general, no se requiere el consentimiento de los accionistas para una reorganización fiscal tipo B, aunque sí es necesario cumplir con otros requisitos como el control del 80%.
¿Cómo se determina si una serie de adquisiciones es parte de un plan integrado en el contexto de una reorganización fiscal tipo B?
-Si las adquisiciones se llevaron a cabo como parte de un plan integrado y no fueron transacciones aisladas, el Servicio de Impuestos Internos (IRS) podría considerar que forman una sola transacción. Esto podría afectar la capacidad de calificar para una reorganización fiscal tipo B si se detecta una estrategia de evitar el requisito del 80% de control inmediatamente después de la transacción.
Outlines
📚 Introducción a la reorganización fiscal tipo B
El primer párrafo introduce la reorganización fiscal tipo B como una transacción que permite a una corporación adquirir otra de manera免税 (tax-free), es decir, sin que incurran impuestos el objetivo, el comprador o los accionistas del objetivo. Se ilustra con un ejemplo hipotético de dos corporaciones: 'Flying Cat Skydiving', que enseña a gatos a hacer paracaidismo, y 'Surfing Kittens', que enseña a gatitos a surfear. La adquisición se realiza intercambiando acciones de una corporación por las de otra, manteniendo el valor de mercado y sin reconocimiento de ganancia. Además, se menciona que el accionista objetivo recibirá nuevas acciones en lugar de las anteriores, sin incrementar su base de imposición, y 'Flying Cat Skydiving' obtendrá el control de 'Surfing Kittens'. Se destaca que para calificar como una reorganización tipo B, se requiere el control del 80% del objetivo inmediatamente después de la transacción y que el 100% de la contraprestación debe ser en acciones de la corporación adquirente.
🔍 Consideraciones adicionales en la reorganización tipo B
El segundo párrafo aborda varios aspectos importantes de la reorganización tipo B. Se aclara que la corporación adquirente, en este caso 'Flying Cat Skydiving', no asume las obligaciones del objetivo, 'Surfing Kittens', a menos que se trate de una operación previamente planificada. Además, se discute la noción de 'old and cold stock', que se refiere a una adquisición previa que no forma parte de un plan integrado y, por lo tanto, no interfiere con la reorganización tipo B. También se menciona el concepto de 'creeping acquisition', donde se realiza una serie de adquisiciones graduales a lo largo del tiempo, siempre y cuando formen parte de un plan integrado y no haya elementos de pago en efectivo (boot). Finalmente, se señala que no se puede optar por una base incrementada en caso de una reorganización tipo B, a diferencia de lo que se puede hacer bajo ciertas circunstancias con una reorganización de tipo 338.
Mindmap
Keywords
💡Reorganización fiscalmente libre Tipo B
💡Control del 80%
💡Acciones con derecho a voto
💡Basis sustituido
💡Adquisición gradual
💡Acciones sin derramamiento de efectivo (Boot)
💡Leyes de impuestos
💡Subsidiaria
💡
💡Plan integrado
💡Participación en acciones
💡Liberación fiscal
Highlights
Type B tax-free reorganization allows one corporation to acquire another corporation tax-free by exchanging stock for stock.
Neither the target, purchaser, nor the target shareholders incur any tax during a Type B reorganization.
In a Type B reorganization, the purchasing corporation must have at least 80% control of the target corporation immediately after the transaction.
The concept of 'old and cold stock' refers to shares previously acquired with cash that are not part of an integrated plan and do not affect the Type B reorganization.
100% of the consideration in a Type B reorganization must be in the form of voting stock of the purchasing corporation.
There are exceptions for fractional shares and sometimes legal fees, but generally, no cash or other forms of payment are allowed.
The purchasing corporation does not assume any of the target's liabilities in a Type B reorganization.
The target shareholders receive a substituted basis in the new shares they receive, without stepping up their basis.
The assets of the acquired company retain their adjusted basis and do not receive a step-up in basis due to the tax-free nature of the transaction.
Shareholder approval is generally not required for a Type B reorganization.
A creeping acquisition, where stock is exchanged gradually over time, can qualify as a Type B reorganization if it's part of an integrated plan.
If there's an integrated plan where cash was paid for shares and later stock is issued for additional shares, it may prevent a Type B reorganization if the IRS views it as a single plan.
The IRS will collapse multiple steps into one transaction if they believe it was part of an integrated plan, which could affect the qualification for a Type B reorganization.
There are no tax implications for the shareholders as they receive a substituted basis in the new shares, maintaining their original investment cost.
The target company continues to operate, usually as a subsidiary, without its assets' basis being stepped up due to the tax-free acquisition.
Section 338 elections for a stepped-up basis are not applicable in a Type B reorganization, as there is no tax paid on the transaction.
The transaction is structured to be tax-free, which is a significant advantage for corporations looking to expand through acquisitions.
Transcripts
we've been talking about tax-free
reorganizations and in this video we're
going to discuss the type B tax-free
reorganization so a type b
reorganization is a transaction that
allows one corporation to acquire
another corporation tax-free with
neither the target or the purchaser nor
the target shareholders incurring any
kind of tax by basically exchanging
stock for stock so let's say that we
have one corporation let's say you're
the director of flying cat skydiving you
teach cats how to skydive and you want
to acquire surfing kittens which is a
company that teaches kittens how to surf
in the ocean and so you want to acquire
surfing kittens but you don't want to
pay any tax so you say you know why I
noticed that the target shareholders
right so those are the shareholders of
surfing kittens that's sure let's just
say it's one shareholder and that person
has a hundred shares of stock with a
fair market value of a hundred thousand
dollars and so you say you know what I'm
gonna give some flying cat skydiving
stock to surfing kittens so let's say
you give five hundred shares of flying
cat skydiving stock that are worth let's
let's say that the fair market value is
a hundred thousand dollars otherwise you
wouldn't be doing the deal right so a
hundred thousand dollars with the stock
you give to surfing kittens and in
exchange what you're gonna get is
basically you're gonna give this to the
target shareholder so target shareholder
is going to receive the five hundred
shares and flying cat skydiving and now
what is flying cat skydiving get they're
going to get the 100 shares from that
target shareholder now the target
shareholder is going to they're not
going to recognize any game they're
going to get a substituted basis in the
new shares that they're getting right
because they're getting rid of these
hundred shares those are going to flying
cat skydiving so their adjusted basis
which is just a B here that's the
adjusted basis of the target shareholder
stock that's 40,000 and so that's gonna
be their basis in the new shares and the
500 shares they're receiving of flying
cats skydiving so they're getting a
substituted basis of 40 thousand so
they're not stepping up their basis and
then flying cat skydiving they're gonna
basically control now this surfing
kittens although they're continue to
operate it as a subsidiary doesn't have
to be
Way but usually that's the case for the
type B and so the assets so the adjusted
basis of the assets for surfing kittens
they're at 25,000 and those are not
going to be stepped up because there's
there's no gain here there's no taxable
game there's no step-up in basis of the
assets at all
so type B is a nice little transaction
that allows you to this basically swap
stock for stock and get a tax-free
acquisition but there are some important
rules now one good thing is that
shareholder approval is generally not
required for the type B however you have
to have at least 80 percent control of
the target which in this case would be
surfing kittens flying cat skydiving
would have to have at least 80 percent
control immediately after the
transaction so what is 80 percent
control mean it means 80 percent of the
combined voting power of all classes of
voting stock and 80 percent of any
non-voting stock right so you don't have
to in this example we have we're
basically and cat was getting a hundred
percent of the shares but doesn't have
to be it could have been the 90 shares
and so forth as long as you have at
least 80 percent control immediately
afterwards it can't qualify potentially
as a type B now here is something that's
very important the voting stock voting
stock has to be 100 percent of the
consideration remember consideration is
what the purchasing organization or the
purchasing corporation is giving to the
to the target right or in this case the
target shareholders so you're giving a
boding stock of flying cat skydiving it
can't be any kind of boo or oh but we're
gonna give cash and stock it doesn't
work right
remember with type a you could have you
could have some boot you could throw in
some cash with some voting stock here
voting stock of the purchasing
Corporation has to be everything right
there are tiny exceptions like for
example well if there's some kind of
fractional share let's say the target
shareholder has 1/4 share or something
like leftover you could give them cash
for that but that's kind of a tiny
exception and in some cases and maybe
where the purchasing corporation could
pay some of the legal fees of the target
but generally speaking just think of it
like this voting stock has to be a
hundred percent of the consideration
otherwise
it's not gonna qualify as a type be
tax-free reorganization now one nice
thing is that the the purchasing
corporation in this case flying ket
skydiving is not going to assume any of
the targets liabilities now I didn't
list any liabilities up here for surfing
kittens but let's just say the serving
kittens had some liabilities or some
unknown liabilities well generally in a
tight B the purchasing corporation is
going to continue to operate the target
surfing kittens as a subsidiary so just
because it controls the subsidiary does
not mean a flying cat skydiving
necessarily takes on the liabilities of
surfing kittens right so any liabilities
that surfing kittens has continued to be
the liabilities of surfing kittens so
you're not automatically going to get
stuck with the targets liabilities and
as I mentioned you're not going to
receive any stepped-up basis and the
reason is you're not paying any tax and
also remember when we talked about
section 338 and when you could elect to
have a stepped-up basis and so you
cannot do that with a type B so that's
not an option and of course as we
mentioned you know that the target
shareholders are gonna receive a
substitute basis so none of the assets
are getting stepped up because nobody's
paying any tax on them now I want to
talk about a few important notes and one
is this idea you might hear the phrase
of old and cold stack so what old and
cold stock means is this so we talked
about how basically you have to give at
least or a hundred percent of the
consideration has to be folding stock
and you have to have at least 80 percent
control app immediately afterwards but
what if what if let me give you a
hypothetical
what if flying cat skydiving had
acquired let's say 10 percent of Surfing
kittens with cash so they have paid
let's say they have paid cash for 10
percent of Surfing kittens let's say 9
or 9 years ago okay so they paid 10
percent cash 9 years ago does that mess
so let's say right now for example that
they now acquired so here we have them
acquiring a hundred percent but let's
say that they now acquire let's say 75
percent so they already owned 10 percent
right they paid cash 9 years ago and
they had temper
and now they issue stock for surfing
kitten stock so it's stock for stock to
get an additional 75% so if you add them
up you'd say okay immediately afterwards
now flying cat would own 85 percent of
surfing kittens so it would meet the 80
percent control but wait a minute you
might be thinking hey with that 10
percent initially that's what we call
the old and cold stock they paid cash
for that doesn't that bust up this B
doesn't it kazoo you know kind of screw
up our transaction not necessarily it
depends was this part of an integrated
plan right so if they paid cash nine
years ago and had no idea that oh well
we're eventually gonna go and give them
stock for another 75 percent of
corporation and trying to type B
reorganization if there's not part of
one big plan then in this old and cold
stock is okay and so this 10% can be
added to the 75 to get to the 85 not a
problem however if you are being slick
and you said one week ago hey you know
what let me pay cash for 10% of the
company and then a week later I'll say
I'll give you stock for the for 75% hey
I didn't know that a week ago I was
gonna do this well the IRS isn't gonna
buy that so if it seemed to be part of a
plan an integrated plan then the IRS
will collapse all the steps into one
transaction and the fact that you paid
cash will prevent you from having type B
however if it's not part of an
integrated plan then it's the old and
cold stock does not create a problem
also you can have what's called a
creeping acquisition a creeping
acquisition is you could have a number
of set it doesn't have to be so let's
forget about the idea of giving cash now
at all now we're just thinking of just
stock for stock but let's say that you
give some stock for stock on January 1st
and then you do some more on March 15th
and then on June 30th so you're going
throughout the year throughout a period
of time it's this creeping acquisition
where you're exchanging stock you're
giving voting stock right as
consideration there's no cash there's no
boot anything like that you're giving
voting stock but you're doing it
gradually over time and so ultimately
as long as part of an integrated plan
and there's no boot involved or anything
like that then once you get 80% control
then you have a Type B reorganization
and so you can have a creeping
acquisition there's part of integrated
plan it's not going to create any kind
of an issue and you can have a tax-free
type B reorganization
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