In addition to its PLR request, GEO has been working on a number of administrative steps, including the internal reorganization of the Company into separate legal operating business units. GEO has also conducted the TRS transfer pricing and the earnings and profits distribution analysis which must be completed in connection with a potential REIT conversion.Following a decision to convert into a REIT by GEO’s Board, certain ownership limitations to ensure compliance with the REIT provisions in the tax code would require the approval of GEO's shareholders. This shareholder vote would take place after the decision to convert had been made by GEO’s Board.
The GEO Group Reports Third Quarter 2012 Results And Provides Update On Potential REIT Conversion
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