United States:
Final 162(m) Rules Have A Surprise For Newly Public Companies
20 April 2015
McGuireWoods LLP
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The final Section 162(m) regulations issued by the
IRS last week have a small but welcome surprise for companies that
have recently become public. As explained in
this McGuireWoods client alert, the rules exempt RSUs, phantom
units and other similar awards from the $1 million deduction
limitation if the awards were granted during a newly public
company's transition period and before April 1, 2015, even if
the awards are paid out after the end of the transition period. The
expectation based on the proposed regulations had been that RSUs
and other similar awards paid out after the end of the transition
period would be subject to the limitation, regardless of when
granted.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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