Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 1982 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
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Common terms and phrases
accumulated earnings acquiring corporation adjusted basis amended by T.D. assets bution capital gain capital loss cash class of stock Code common stock complete liquidation computed considered date of distribution debentures December 31 deduction depreciation described in section determined distri distribution or trans distribution or transfer distributor or transferor dividend carryover earnings and profits election excess facts fair market value Federal ferred filed gain or loss graph holders interest issued January June 30 liabilities loss corporation ment method of accounting method of taking operating loss carryovers outstanding stock ownership paragraph payment poration postacquisition preceding taxable preferred stock purchase pursuant quiring ration received recognized redemption relating respect rules ryovers sale or exchange shareholder shares of stock stock and securities stock of Corporation stock or securities subpara subparagraph subsection taking inventories taxable income taxable year ending taxable years beginning tion trade or business transaction transferor corporation tribution X Corporation
Popular passages
Page 113 - ... more than 50 percent in value of the outstanding stock of which is owned by the same person. (2) Control. For purposes of this paragraph, control means the ownership of stock possessing at least 50 percent of the total combined voting power of all classes of stock entitled to vote or at least 50 percent of the total value of shares of all classes of stock of the corporation.
Page 242 - A corporation has not continued to carry on a trade or business substantially the same as that conducted before any increase in the ownership of its stock if the corporation is primarily engaged in the rendition of services by a particular individual or individuals and, after the increase in ownership, the corporation is primarily engaged in the rendition of services by different individuals. This subparagraph may be illustrated by the following examples: Example (1). X Corporation, a calendaryear...
Page 151 - Permanent records in substantial form shall be kept by every taxpayer who participates in an exchange described in section 371(b), showing the cost or other basis of the transferred property and the amount of stock or securities and other property or money received (including any liabilities assumed upon the exchange), in order to facilitate the determination of gain or loss from a subsequent disposition of such stock or securities and other property received from the exchange.
Page 57 - ... are distributed in a distribution or exchange to which section 355 (or so much of section 356 as relates to section 355) applies...
Page 131 - ... used principally as a device for the distribution of the earnings and profits of the distributing corportion or of the controlled corporation, or both.
Page 242 - December 31, 1958, the corporation has not continued to carry on a trade or business substantially the same as that conducted before the increase in ownership.
Page 207 - Section 1033(a)(2) provides that, if property is disposed of in an involuntary conversion before January 1, 1951, and money is received as compensation for the conversion, no gain shall be recognized if such money is forthwith expended in the acquisition of other property similar or related in service or use to the property so converted, or in the acquisition of control of a corporation owning such other property, or in the establishment of a replacement fund. That section also provides that, if...
Page 142 - No gain or loss shall be recognized If a corporation a party to a reorganization exchanges property, in pursuance of the plan of reorganization, solely for stock or securities in another corporation a party to the reorganization.
Page 122 - The distribution is one of a series of distributions in redemption of all of the stock of the corporation pursuant to a plan of complete liquidation, or (2) The distribution: (i) Is not essentially equivalent to a dividend...
Page 125 - 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.