Mergers & Acquisitions
Sep. 2, 2006
Cash Received Up Front Isn't Necessarily Taxable Income
FOCUS COLUMN - In a day and age when actors receiving swag and gift bags have to treat them as income, is there a way to get cash up front in a deal and not have to treat it as income when received?
Focus Column
By Nathan J. Hochman
In a day and age when actors receiving swag and gift bags have to treat them as income, is there a way to get cash up front in a deal and not have to treat it as income when received? The surprising answer from the 9th U.S. Circuit Court of Appeals is yes. In Westpac Pacific Food v. Commissioner of Internal Revenue, 451 F.3d 970 (9th Cir. 20...
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