7701(a)(30)(E)(i) does not provide how the primary jurisdiction is to be determined, the House Committee report (42) provides that this test generally will be satisfied by
any trust instrument that specifies that it is to be governed by the laws of any state.
These requirements may not be satisfied by
filing protective returns.
(The scienter requirements can be satisfied by
demonstrating specific facts: (1) showing a motive for committing fraud and clear opportunity for doing so and (2) indicating conscious or reckless behavior by the defendants.) District Court Judge Kram agreed with the holding in SEC v.
20, 1999 (the effective date for the proposed regulations) capable of being satisfied by
notes or similar arrangements are no longer considered "qualified interests" under Sec.
Substantiation requirements for an accountable plan are frequently satisfied by
compliance with the requirements set forth in Sec.
The reasonable basis standard is not satisfied by a return position that is merely arguable or merely a colorable claim.
1.6662-3(b)(3) provides that the reasonable basis standard is not satisfied by a position that is merely arguable or colorable; further, the disclosed return position must now be "reasonably based on one or more of the authorities" set forth in Regs.
1.1244(e)-1, entitled, "Records to be kept and information to be filed with the return," contains the recordkeeping and disclosure requirements that must be satisfied by the corporation that issued the Sec.
At first blush, it would appear that the disclosure requirements in the regulations serve merely as a notice function, rather than going to the substance of the statute, and therefore could be satisfied by "substantial" compliance.
Shareholder test: This test is satisfied by a company if more than 50% of its shares are owned, directly or indirectly, by qualified persons.
Active trade or business test: This test is satisfied by a company engaged in the active conduct of a trade or business in its country of residence, and the income earned in the source country is derived in connection with, or is incidental to, such trade or business.
Similarly, expenses are deductible for the tax year in which the taxpayer's liability has become fixed, determinable with reasonable accuracy and satisfied by
To qualify for relief, the following conditions must be satisfied by the last day of the first plan year beginning on or after Jan.
The law firm's self-described obligation to help its clients "obtain funds for survival during the pendency of the action" is being satisfied by using assets of the qualified plans, resulting in the prohibited transactions.