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Liability of transferee for foundation excise taxes of transferor private foundation

If a private foundation incurs a liability for any private foundation excise taxes either before a transfer or as a result of a transfer of assets, then the transferee foundation will be consid­ered to have received the assets subject to the tax to the extent that the transferor foundation does not satisfy the liability.

 


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Page Last Reviewed or Updated: 16-Sep-2016