Irc Section 1361

Becomes a small business corporation as defined in section 1361 b of the internal revenue code of 1986 formerly i r c.

Irc section 1361. A trust which was described in clause i immediately before the death of the deemed owner and which continues in existence after such death but only for the 2 year period beginning on the day of the deemed owner s death. Findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system. B exchanges not solely in kind.

97 354 in a transaction to which section 351 of such code applies and. A general rule no gain or loss shall be recognized to a corporation if such corporation is a party to a reorganization and exchanges property in pursuance of the plan of reorganization solely for stock or securities in another corporation a party to the reorganization. And all of the trust s accounting income must.

Chapter 1 was repealed by section 7851 a 1 a of this title. 1361 d 3 for a trust to qualify as a qsst its terms must require that during the life of the current income beneficiary the trust will have only one income beneficiary. 1954 at any time before the close of the 75th day after the date of the enactment of this act july 18 1984 and.

1954 as amended by the subchapter s revision act of 1982 pub. After september 30 1982 and on or before the date of the enactment of this act jan. 1361 c 2 a ii.

Internal revenue code 1361. Section 1361 c 6 provides that for purposes of subsection b 1 b an organization which is a described in 401 a or 501 c 3 and b exempt from taxation under 501 a may be a shareholder in an s corporation. For purposes of this subchapter irc sections 1361 et seq the term small business corporation means a domestic corporation which is not an ineligible corporation and which does not a have more than 100 shareholders b have as a shareholder a person other than an estate a trust described in subsection c 2 or an organization described in subsection c 6 who is not an individual c have a nonresident alien as a shareholder and d have more than 1 class of stock.

Chapter 1 of the internal revenue code of 1939 referred to in subsec. S corporation defined on westlaw. 12 1983 stock or securities were transferred to a small business corporation as defined in section 1361 b of the internal revenue code of 1986 formerly i r c.