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Under the separate-entity theory , the net assets have to be restated to reflect B 's cost to A in order to correctly recognize the merger and subsequent transfer to C. Do n't panic . In other words , the judge did not view bait as being essential to the growth , sustenance or maintenance of the fish lured to capture . A 's investment in B was eliminated as a result of the merger . Upon completion of the merger , A recognized the historical cost of B 's assets using the value of those assets immediately prior to the merger . Internet access services are still subject to sales tax . Bait is not feed for animals held for sale in the regular course of business because feed furnishes something essential to the growth , sustenance or maintenance of an animal . If the contract or billing to remodel the existing structure is lump sum , the total charge is taxable . That means that Internet access providers are not subject to the TIF assessment . We included Internet access providers in our list of companies that owe the TIF assessment . With the merger of B into A , A 's investment in B is eliminated and A owns B 's assets ( along with B 's liabilities ) . Since that time , Internet access companies have given us more information , and we have determined that this service is not a telecommunications service , but an information service .