Puerto Rico Plan of complete liquidation and dissolution
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How to fill out Plan Of Complete Liquidation And Dissolution?
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FAQ
A plan of dissolution is a written description of how an entity intends to dissolve, or officially and formally close the business. A plan of dissolution will include a description of how any remaining assets and liabilities will be distributed.
To qualify as a tax-free subsidiary liquidation, the requirements under IRC §332(b) must be met. These requirements include ownership of at least 80% of the subsidiary's stock, complete cancellation or redemption of all of the subsidiary's stock, and completion of the liquidation with certain time limits.
IRC §331 provides rules for the tax treatment of shareholders receiving distributions in a complete liquidation of a corporation. In a complete liquidation, a corporation usually distributes all of its assets to the shareholders in exchange for all of its stock pursuant to a plan of a complete liquidation.
Section 332 creates an exception to the general rule of IRC §331(a), but this exception requires that the shareholder receiving the distribution be a corporation that owns at least 80% of the distributing corporation's stock. Partnership Taxation taxtaxtax.com ? corp ? study ? Study5 taxtaxtax.com ? corp ? study ? Study5
IRC §331 provides rules for the tax treatment of shareholders receiving distributions in a complete liquidation of a corporation. In a complete liquidation, a corporation usually distributes all of its assets to the shareholders in exchange for all of its stock pursuant to a plan of a complete liquidation. §331, Gain or Loss Treatment of Shareholders in Complete ... CCH Answer Connect ? irc ? explanation ? 3... CCH Answer Connect ? irc ? explanation ? 3...
