Ala. Admin. Code r. 810-3-8-.09

Current through Register Vol. 43, No. 1, October 31, 2024

Section 810-3-8-.09 - Complete Liquidation Of Subsidiaries

(1) For transactions occurring after December 31, 1984, no gain or loss shall be recognized on the receipt by a corporation of property distributed in complete liquidation of another corporation as described in 26 U.S.C. § 332. For interpretation of federal statutes adopted by the Alabama Legislature see Rule 810-3-1.1 -.01, Operating Rules.

(2) See Reg. 810-3-6-.02 for determining the basis of property received by a corporation in a distribution under this rule.

Authors: Verlon R. Frost, Jeff Taylor

Ala. Admin. Code r. 810-3-8-.09

Filed July 27, 1988. Amended: Filed March 4, 1997; effective April 8, 1997. Amended: Filed April 28, 1999; effective June 2, 1999.

Statutory Authority:Code of Ala. 1975, §§ 40-18-8, 40-18-57.