Code Section 351

368 c of the corporation.

Code section 351. No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock in such corporation and immediately after the exchange such person or persons are in control as defined in section 368 c of the corporation. You receive only stock in exchange for your property and. Law section 351 a provides that no gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock in such corporation and immediately after the exchange such person or persons are in control as defined in 368 c of the corporation.

351 a general rule. B the rate in an eligible central municipality may not exceed nine percent of the price paid for a room. Transfer to corporation controlled by transferor.

A except as provided by this section the tax authorized by this chapter may be imposed at any rate not to exceed seven percent of the price paid for a room in a hotel. A hazardous duty pay the secretary concerned may pay hazardous duty pay under this section to a member of a regular or reserve component of the uniformed services entitled to basic pay under section 204 of this title or compensation under section 206 of this title who. A version of section 351 has been included in the internal revenue code since the revenue act of 1921 2in 1989 congress amended section 351 to repeal non recognition treatment for securities received by a transferor in the exchange.

You are in control of the corporation immediately after the exchange. 351 allows a tax free incorporation transfer if certain requirements are met including that the property must be transferred to a corporation by one or more persons in exchange for stock in the corporation and immediately after the exchange the transferor s is are in control as defined in sec. B receipt of property if subsection a would apply to an exchange but for the fact that there is received in addition to the stock permitted to be received under subsection a other property or money.

As defined in section 368 c of the corporation. 1 significant transferor means a person that transferred property to a corporation and received stock of the transferee corporation in an exchange described in section 351 if immediately after the exchange such person. Transfer to corporation controlled by transferor.

Section 368 c defines control. Internal revenue code section 351. No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock in such corporation and immediately after the exchange such person or persons are in control as defined in section 368 c of the corporation.