Can someone give me a primer on QSUBs?

[BulldogTom]

I remember something about them, but I am not going to show my ignorance by telling you what I think I know.   Can someone explain to me in 4-5 sentences what a QSUB is and how it is taxed and its relationship to the parent and the parent's taxation.   I plan to read up on this when I get some time, but I don't have a lot of time right now.

Thanks

Tom
Longview, TX

[Lion EA]

Read the first paragraph and save the rest for after 10/16: https://www.thetaxadviser.com/issues/2012/aug/casestudy-aug12.html