Table of Contents

• Rev. Rul. 2011-19
  • ISSUE
  • FACTS
  • LAW AND ANALYSIS
    • A. Single Levy or Separate Levies
    • 1. The Remittance Basis and the Arising Basis of Taxation Are Separate Levies
    • 2. The RBC, in Combination with the Remittance Basis of Taxation, is a Single Levy that is a Separate Levy
    • B. The LTND Levy Is a Tax in the U.S. Sense
    • C. The Predominant Character of the LTND Levy Is that of an Income Tax in the U.S. Sense
    • 1. Realization
    • 2. Gross Receipts
    • 3. Net Income
    • 4. Conclusion
  • HOLDING
  • DRAFTING INFORMATION
• Rev. Rul. 2011-20