SERVICE WILL NOW ISSUE RULING AND DETERMINATION LETTERS REGARDING CLASSIFICATION OF LIMITED LIABILITY COMPANIES.
Rev. Proc. 88-44; 1988-2 C.B. 634
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Index Termslimited partnershipassociation taxable as a corporation
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 88-7401
- Tax Analysts Electronic Citation88 TNT 182-11
Superseded by Rev. Proc. 89-3
SECTION 1. BACKGROUND
Rev. Proc. 88-3, 1988-1 I.R.B. 29, sets forth areas in which the Internal Revenue Service will not issue advance rulings or determination letters. Section 5 of Rev. Proc. 88-3 is entitled "AREA UNDER EXTENSIVE STUDY IN WHICH RULING OR DETERMINATION LETTERS WILL NOT BE ISSUED UNTIL THE SERVICE RESOLVES THE ISSUE THROUGH PUBLICATION OF A REVENUE RULING, REVENUE PROCEDURE, REGULATIONS OR OTHERWISE." Section 5.37 deals with the classification of limited liability companies for federal income tax purposes.
SEC. 2. PROCEDURE
Rev. Proc. 88-3 is modified by deleting section 5.37.r
SEC. 3. EFFECT ON OTHER REVENUE PROCEDURES
Rev. Proc. 88-3 is modified.
SEC. 4. EFFECTIVE DATE
This revenue procedure is effective as of September 19, 1988, the date of publication of this revenue procedure in the Internal Revenue Bulletin.
DRAFTING INFORMATION
The principal author of this revenue procedure is Ann Veninga of the Individual Tax Division. For further information regarding this revenue procedure, contact Ms. Veninga on (202) 566-5983 (not a toll- free call).
- Institutional AuthorsInternal Revenue Service
- Code Sections
- Subject Areas/Tax Topics
- Index Termslimited partnershipassociation taxable as a corporation
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 88-7401
- Tax Analysts Electronic Citation88 TNT 182-11