THE ORIGINAL VERSION of a tax bill approved by the U.S. House on Wednesday contained provisions that would have eliminated the tax benefits of Time Warner Inc.’s proposed sale of the Atlanta Braves to Liberty Media Corp.
But a late change made to the legislation would create a one-year window in which Liberty could acquire the Braves without the transaction being subject to federal taxation, according to Kilpatrick Stockton partner Lynn E. Fowler, whose practice includes advising clients on tax implications of mergers and acquisitions.
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