Final regulations issued on classification of business entities organized in multiple jurisdictions

The US Treasury Department and Internal Revenue Service (IRS) have issued final regulations on the tax classification of business entities organized in multiple jurisdictions (so-called dual chartered entities). The final regulations were issued under the US check-the-box rules. The final regulations replace temporary regulations issued on this topic on 12 August 2004; for a report on the temporary regulations.

The final regulations adopt the two principal rules of the temporary regulati…