[11238]
September 10, 1999
TO: TAX COMMITTEE No. 26-99
TASK FORCE ON ADVISER/DISTRIBUTOR TAX ISSUES
RE: SPONSOR TAX TREATMENT OF NEW MUTUAL FUND COSTS
______________________________________________________________________________
Attached is the first draft of a memorandum that the Institute plans to submit to the Internal
Revenue Service in support of a proposal (discussed therein) for resolving the industry-wide issue
regarding the appropriate tax treatment of a fund sponsor's costs of creating new funds.
This draft will be discussed at the meeting that has been scheduled for September 28. See
Institute Memorandum to Tax Committee No. 25-99, dated September 8, 1999.
If you have any questions or comments with regard to the memorandum or proposal, please contact
Naomi Gendler Camper (202/326-5821) or the undersigned (202/326-5832).
Keith Lawson
Senior Counsel
Attachment