An alternative approach perhaps less subject to challenge by the Internal Revenue Service: Treat the makeover as a barter transaction subject to tax, says J.

FORBES: The 2005 Investment Guide

In an internal memo leaked last month, the 11 participating states suggest that the transaction tax could increase government borrowing costs.

WSJ: Review & Outlook: The Transaction-Tax Climbdown

In order to comply with requirements imposed by the IRS, I must inform you that any U.S. federal tax advice contained in this blog is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter that is contained in this blog.

FORBES: Ask the taxgirl: Getting Married When a Tax Liability Exists