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

Universal Citation: AL Admin Code R 810-3-6-.08

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.)

Note:

Statutory Authority:Code of Ala. 1975, §§ 40-2A-7(a)(5), 40-18-6.

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