26 CFR 1.1502-1 - Definitions.
(a)Group. The term group means an affiliated group of corporations as defined in section 1504. See § 1.1502-75(d) as to when a group remains in existence. Except as the context otherwise requires, references to a group are references to a consolidated group (as defined in paragraph (h) of this section).
(e)Separate return year. The term separate return year means a taxable year of a corporation for which it files a separate return or for which it joins in the filing of a consolidated return by another group.
(f)Separate return limitation year -
(1)In general. Except as provided in paragraphs (f)(2) and (3) of this section, the term separate return limitation year (or SRLY) means any separate return year of a member or of a predecessor of a member.
(2)Exceptions. The term separate return limitation year (or SRLY) does not include:
(i) A separate return year of the corporation which is the common parent for the consolidated return year to which the tax attribute is to be carried (except as provided in § 1.1502-75(d)(2)(ii) and subparagraph (3) of this paragraph),
(3)Reverse acquisitions. In the event of an acquisition to which § 1.1502-75(d)(3) applies, all taxable years of the first corporation and of each of its subsidiaries ending on or before the date of the acquisition shall be treated as separate return limitation years, and the separate return years (if any) of the second corporation and each of its subsidiaries shall not be treated as separate return limitation years (unless they were so treated immediately before the acquisition). For example, if corporation P merges into corporation T, and the persons who were stockholders of P immediately before the merger, as a result of owning the stock of P, own more than 50 percent of the fair market value of the outstanding stock of T, then a loss incurred before the merger by T (even though it is the common parent), or by a subsidiary of T, is treated as having been incurred in a separate return limitation year. Conversely, a loss incurred before the merger by P, or by a subsidiary of P in a separate return year during all of which such subsidiary was a member of the group of which P was the common parent and for which section 1562 was not effective, is treated as having been incurred in a year which is not a separate return limitation year.
(4)Predecessor and successors. The term predecessor means a transferor or distributor of assets to a member (the successor) in a transaction -
(i) To which section 381(a) applies; or
(ii) That occurs on or after January 1, 1997, in which the successor's basis for the assets is determined, directly or indirectly, in whole or in part, by reference to the basis of the assets of the transferor or distributor, but in the case of a transaction that occurs before June 25, 1999, only if the amount by which basis differs from value, in the aggregate, is material. For a transaction that occurs before June 25, 1999, only one member may be considered a predecessor to or a successor of one other member.
(g)Consolidated return change of ownership -
(1)In general. A consolidated return change of ownership occurs during any taxable year (referred to in this subparagraph as the “year of change”) of the corporation which is the common parent for the taxable year to which the tax attribute is to be carried, if, at the end of the year of change:
(i) Any one or more of the persons described in section 382(a)(2) own a percentage of the fair market value of the outstanding stock of such corporation which is more than 50 percentage points greater than such person or persons owned at:
(a) The beginning of such taxable year, or
(b) The beginning of the preceding taxable year, and
(ii) The increase in percentage points at the end of such year is attributable to:
(a) A purchase (within the meaning of section 382(a)(4)) by such person or persons of such stock, the stock of another corporation owning stock in such corporation, or an interest in a partnership or trust owning stock in such corporation, or
(b) A decrease in the amount of such stock outstanding or the amount of stock outstanding of another corporation owning stock in such corporation, except a decrease resulting from a redemption to pay death taxes to which section 303 applies.
(2)Operating rules. For purposes of this paragraph:
(ii) Section 318 (relating to constructive ownership of stock) shall apply in determining the ownership of stock, except that section 318(a) (2)(C) and (3)(C) shall be applied without regard to the 50-percent limitation contained therein.
(3)Old members. The term old members of a group means:
(ii) If the group was not in existence prior to the taxable year in which the consolidated return change of ownership occurs, the corporation which is the common parent for the taxable year to which the tax attribute is to be carried.
(4)Reverse acquisitions. If there has been a consolidated return change of ownership of a corporation under subparagraph (1) of this paragraph and the stock or assets of such corporation are subsequently acquired by another corporation in an acquisition to which § 1.1502-75(d)(3) applies so that the group of which the former corporation is the common parent is treated as continuing in existence, then the “old members”, as defined in subparagraph (3) of this paragraph, of such group immediately before the acquisition shall continue to be treated as “old members” immediately after the acquisition. For example, assume that corporations P and S comprise group PS, and PS undergoes a consolidated return change of ownership. Subsequently, the stock of P, the common parent, is acquired by corporation T, the common parent of group TU, in an acquisition to which section 368(a)(1)(B) and § 1.1502-75(d)(3) apply. The PS group is treated as continuing in existence with T as the common parent. P and S continue to be treated as old members, as defined in subparagraph (3) of this paragraph.
- 26 CFR 1.1502-9 — Consolidated Overall Foreign Losses, Separate Limitation Losses, and Overall Domestic Losses.
- 26 CFR 1.469-1 — General Rules.
- 26 CFR 1.1502-77B — Agent for the Group Applicable for Consolidated Return Years Beginning on or After June 28, 2002, and Before April 1, 2015.
- 26 CFR 1.41-6 — Aggregation of Expenditures.
- 26 CFR 1.706-1 — Taxable Years of Partner and Partnership.
- 26 CFR 1.704-1 — Partner's Distributive Share.
- 26 CFR 1.45G-1 — Railroad Track Maintenance Credit.
- 26 CFR 1.338(h)(10)-1 — Deemed Asset Sale and Liquidation.
- 26 CFR 1.1502-15 — SRLY Limitation on Built-In Losses.
- 26 CFR 1.1502-95 — Rules on Ceasing to Be a Member of a Consolidated Group (Or Loss Subgroup).
- 26 CFR 1.1502-22 — Consolidated Capital Gain and Loss.
- 26 CFR 1.1502-4 — Consolidated Foreign Tax Credit.
- 26 CFR 1.1502-78 — Tentative Carryback Adjustments.
- 26 CFR 1.1502-47 — Consolidated Returns by Life- Nonlife Groups.
- 26 CFR 1.337(d)-2 — Loss Limitation Rules.
- 26 CFR 1.382-8 — Controlled Groups.
- 26 CFR 1.367(a)-8 — Gain Recognition Agreement Requirements.
- 26 CFR 1.1502-3 — Consolidated Tax Credits.
- 26 CFR 1.1502-21 — Net Operating Losses.
- 26 CFR 1.6655-5 — Short Taxable Year.
- 26 CFR 1.704-3 — Contributed Property.
- 26 CFR 1.1503(d)-6 — Exceptions to the Domestic Use Limitation Rule.
- 26 CFR 1.1502-15A — Limitations on the Allowance of Built-In Deductions for Consolidated Return Years Beginning Before January 1, 1997.
- 26 CFR 1.1503(d)-1 — Definitions and Special Rules for Filings Under Section 1503(d).
- 26 CFR 1.1502-75 — Filing of Consolidated Returns.
- 26 CFR 1.1502-100 — Corporations Exempt From Tax.
- 26 CFR 1.1503(d)-4 — Domestic Use Limitation and Related Operating Rules.
- 26 CFR 1.1362-3 — Treatment of S Termination Year.
- 26 CFR 1.168(d)-1 — Applicable Conventions - Half-Year and Mid-Quarter Conventions.
- 26 CFR 1.1502-21A — Consolidated Net Operating Loss Deduction Generally Applicable for Consolidated Return Years Beginning Before January 1, 1997.
- 26 CFR 1.1502-34 — Special Aggregate Stock Ownership Rules.
- 26 CFR 1.636-4 — Effective Dates of Section 636.
- 26 CFR 1.597-1 — Definitions.
- 26 CFR 1.761-3 — Certain Option Holders Treated as Partners.
- 26 CFR 1.1362-8 — Dividends Received From Affiliated Subsidiaries.
- 26 CFR 1.1502-96 — Miscellaneous Rules.
- 26 CFR 1.337(d)-1 — Transitional Loss Limitation Rule.
- 26 CFR 1.1503-2 — Dual Consolidated Loss.
- 26 CFR 1.1502-9A — Application of Overall Foreign Loss Recapture Rules to Corporations Filing Consolidated Returns Due on or Before August 11, 1999.
- 26 CFR 1.263A-9 — The Avoided Cost Method.
- 26 CFR 1.1502-91 — Application of Section 382 With Respect to a Consolidated Group.
- 26 CFR 1.1502-22A — Consolidated Net Capital Gain or Loss Generally Applicable for Consolidated Return Years Beginning Before January 1, 1997.
- 26 CFR 1.460-6 — Look-Back Method.
- 26 CFR 301.6402-7 — Claims for Refund and Applications for Tentative Carryback Adjustments Involving Consolidated Groups That Include Insolvent Financial Institutions.
- 26 CFR 1.907(c)-2 — Section 907(c)(3) Items (For Taxable Years Beginning After December 31, 1982).
- 26 CFR 1.446-3 — Notional Principal Contracts.
- 26 CFR 1.385-3 — Transactions in Which Debt Proceeds Are Distributed or That Have a Similar Effect.
- 26 CFR 1.385-3T — Certain Distributions of Debt Instruments and Similar Transactions (Temporary).
- 26 CFR 1.385-4T — Treatment of Consolidated Groups.
- 26 CFR 1.721(c)-5T — Acceleration Event Exceptions (Temporary).
- 26 CFR 1.721(c)-3T — Gain Deferral Method (Temporary).