Form Over Substance—A Step-by-Step Analysis: Esmark, Inc. v. Commissioner, 90 T.C. 171 (1988)

Authors

Joseph C. Vitek, University of Nebraska College of LawFollow

Abstract

I. Introduction

II. Step-Transaction Doctrine ... A. Judicial Tests ... 1. Binding Commitment Test ... 2. End-Result Test ... 3. Interdependence Test ... B. Critique ... C. Application

III. Esmark, Inc. v. Commissioner ... A. Mobil-Esmark Exchange ... B. Nature of Mobil's Ownership ... 1. Prior Precedent ... 2. Potential Distinctions ... 3. Mobil's Attributes of Ownership ... C. Step Transactions

IV. Mobil-Esmark Type Transactions and Section 355 ... A. Section 355 Requirements ... 1. Statutory Requirements ... 2. Continuity of Interest Test ... 3. Business Purpose Test ... B. Mobil-Esmark's Exchange: Section 355 Split-off?

V. Conclusion

Recommended Citation

Joseph C. Vitek, Form Over Substance—A Step-by-Step Analysis: Esmark, Inc. v. Commissioner, 90 T.C. 171 (1988), 69 Neb. L. Rev. (1990)
Available at: https://digitalcommons.unl.edu/nlr/vol69/iss3/6