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2001
Private Letter Ruling
On May
10, 2000, the Maddox Foundation requested a Private Letter Ruling
from the Internal Revenue Service with respect to issues arising
from the transfer of assets from the trust, to the Maddox
Foundation, as a Mississippi nonprofit corporation, in anticipation
of the former trust ceasing operations after such transfer.
On June 25, 2001, the Internal Revenue Service issued a Private
Letter Ruling to the trust, in effect approving the transfer of
assets and clarifying the tax implications of this transfer. This
ruling allowed the final transfer of assets from the trust to the
Mississippi nonprofit corporation to take place on July 31, 2001.
2004
Request for Private Letter Ruling
On November 17, 2003, the Maddox Foundation requested a Private
Letter Ruling from the Internal Revenue Service with respect to
issues arising from the Foundation’s creation and ownership of
Maddox Hockey, Inc. and Maddox Football, Inc., and the Foundation’s
investments in these entities as program related investments under
applicable sections of the Internal Revenue Code.
This request is pending with the Internal Revenue Service.
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