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Corporation of America (HCA). HCA maintained its principal
offices in Nashville, Tennessee, on the date the petitions were
filed. For each of the years involved in the instant case, HCA
and its domestic subsidiaries filed a consolidated U.S.
Corporation Income Tax Return on Form 1120 with the Director of
the Internal Revenue Service Center at Memphis, Tennessee.
General Background
In 1960, Park View Hospital, Inc., was incorporated under
the laws of the State of Tennessee. During 1968, Park View
Hospital, Inc., joined with 11 other hospitals to form HCA, and
thereafter until 1989, HCA stock was publicly held and traded on
the New York Stock Exchange.4
Petitioners' primary business is the ownership, operation,
and management of hospitals. As of January 1, 1981, petitioners
owned and operated 101 hospitals. By the end of 1986,
petitioners owned and operated 243 hospitals through 134
corporations.
HCA and its subsidiaries were formed as for-profit
corporations, based on the theory that operating health care
4
During 1989, HCA became a privately held corporation and
remained so until 1992, when it again went public and changed its
name to HCA-Hospital Corp. of America. On Feb. 10, 1994, the
corporation was merged with and into Galen Healthcare, Inc., a
subsidiary of Columbia Healthcare Corp. of Louisville, Kentucky,
and such subsidiary changed its name to HCA-Hospital Corp. of
America. On that same date, the parent changed its name to
Columbia/HCA Healthcare Corporation.
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