In general, the status of a business entity for tax purposes -- for example, as a corporation or as another type of entity such as a partnership -- depends on its form of organization. Regulations provide that entities that take particular forms in their country of organization are always treated as corporations for U.S. tax purposes.

Notice 2004-68 supplements this list of "per se" corporations to reflect recent developments in Europe. First, it provides that the Societas Europaea, which is a new type of entity in the European Union, will be treated as a corporation for U.S. tax purposes. Second, the notice provides that public limited liability companies under the laws of Estonia, Latvia, Liechtenstein, Lithuania and Slovenia will also generally be treated as corporations for U.S. tax purposes.