Alabama Administrative Code
Title 810 - Alabama Department of Revenue
Chapter 810-3-6 - GAIN OR LOSS - BASIS OF PROPERTY; ADJUSTED BASIS
810-3-6-.08 - Basis Of Property Acquired On Liquidation Of A Subsidiary
810-3-6-.08. Basis Of Property Acquired On Liquidation Of A Subsidiary
(1) Basis of Property Acquired on Liquidation of Subsidiary. The basis of property acquired by a corporation as a result of a liquidation of a subsidiary to which § 40-18-8(h), Code of Ala. 1975, applies shall be determined in accordance with 26 U.S.C. § 334(b). For interpretation of federal statutes adopted by the Alabama Legislature see Rule 810-3-1.1-.01, Operating Rules.
(2) § 40-18-8(h) concerns the complete liquidation of subsidiaries satisfying the requirements of 26 U.S.C. § 332.
Author: Ed Cutter, CPA(New Rule: Filed April 28, 1999; effective June 2, 1999.)
Statutory Authority:Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-18-6.