Irc Section 331

331 b nonapplication of section 301.

Irc section 331. 88 272 do not apply if there is a complete liquidation of such corporation and if the distribution of all the property under such liquidation occurs before jan. Publication 583 starting a business and keeping records tips list the correct code you will dissolve the company under on form 966 with section 331 for a regular s. 331 a distributions in complete liquidation treated as exchanges amounts received by a shareholder in a distribution in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock.

Section 331 contains rules governing the extent to which gain or loss is recognized to a shareholder receiving a distribution in complete or partial liquidation of a corporation. Generally two internal revenue code irc sections govern corporate liquidations. Gain or loss to shareholders in corporate liquidations on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system.

For more detailed codes research information including annotations and citations please visit westlaw. 1 1966 except for certain liquidations to which section 332 of this title applies. G 3 of this section the amendments made by section 225 of pub.

Section 331 which requires gain or loss to be recognized.