Section 303

The section 303 redemption is used primarily in cases where the decedent is a major stock holder in one or more corporations and the heirs wish to maintain control of the decedent s stock.

Section 303. Distributions in redemption of stock to pay death taxes. The federal communications commission shall prescribe such regulations as are necessary to implement the requirements of sections 303 u 303 z and 330 b of the communications act of 1934 47 u s c. Provisions of state laws.

Distributions in redemption of stock to pay death taxes. Under the provisions of section 303 the surviving family can sell a portion of the decedent s stock to the corporation. 503 the secretary of labor shall make no certification for payment to any state unless he finds that the law of such state approved by the secretary of labor under the federal unemployment tax act includes provision for such methods of administration including after january 1 1940 methods relating to the establishment and maintenance of.

Under regulations prescribed by the secretary where stock in a corporation is subject to tax under section 2601 as a result of a generation skipping transfer within the meaning of section. Permissions beyond the scope of this license may be available from section 303.