The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1966 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
20 percent 301 applies accumulated earnings acquiring cor acquiring corporation adjusted basis common stock complete liquidation controlled corporation date of distribution December 31 described in section determined distribution or transfer distributor or transferor dividend carryover earnings and profits election erty excess fair market value February 28 feror corporation following examples gain or loss graph holders Internal Revenue Code January June 22 June 30 liability loss corporation method of accounting operating loss carryovers operating loss deduction outstanding stock paragraph percent in value plan of liquidation plan of reorganization poration postacquisition preceding taxable prop property received provided in section provisions of section purchase pursuant quiring recognized redemption relating respect sale or exchange section 306 stock section 381 shareholder Statutory provisions stock of Corporation stock or securities subchapter subparagraph subsection taxable income taxable year ending tion trade or business transaction transferor corporation treated tribution X Corporation
Popular passages
Page 117 - If it were not for the fact that the property received In exchange consists not only of property permitted by such paragraph to be received without the recognition of gain, but also of other property or money, then the gain. If any, to the recipient shall be recognized, but In an amount not In excess of the sum of such money and the fair market value of such other property.
Page 244 - Department of the Army VI Department of the Navy VII Department of the Air Force SUBTITLE B — Other Regulations Relating to National Defense XII Defense Supply Agency XIII Bureau of Mines, Department of the Interior XIV The Renegotiation Board XVI Selective Service System XVII Office of Emergency Planning XVIII Office of Civil Defense, Office of the Secretary of the Army Title 32A — National Defense, Appendix I...
Page 62 - ... (B) Stock of the distributing corporation possessing at least 80 percent of the total combined voting power of all classes of stock entitled to vote, and at least 80 percent of the total number of shares of all other classes of stock (except non voting stock which Is limited and preferred as to dividends...
Page 118 - Secretary or his delegate that such exchange is not in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes.
Page 58 - ... is in complete cancellation or redemption of all the stock, and the transfer of all the property under the liquidation occurs within some one calendar month...
Page 55 - ... possessing at least 80 percent of the total combined voting power of all classes of stock entitled to vote and the owner of at least 80 percent of the total number of shares of all other classes of stock (except nonvoting stock which is limited and preferred as to dividends...
Page 121 - Immediately before the acquisition) ; (C) the acquisition by one corporation. In exchange solely for all or a part of Its voting stock (or In exchange solely for all or a part of the voting stock of a corporation which Is In control of the acquiring corporation...
Page 114 - Where as part of the consideration to the taxpayer another party to the exchange assumed a liability of the taxpayer or acquired from the taxpayer property subject to a liability, such assumption or acquisition (in the amount of the liability) shall, for the purposes of this paragraph, be considered as money received by the taxpayer upon the exchange.
Page 111 - In any suit or proceeding where the burden Is on the taxpayer to prove such assumption or acquisition is not to be treated as money received by the taxpayer, such burden shall not be considered as sustained unless the taxpayer sustains such burden by the clear preponderance of the evidence.
Page 211 - ... such corporation has not continued to carry on a trade or business substantially the same as that conducted before...