Alabama Administrative Code
Title 810 - Alabama Department of Revenue
Chapter 810-3-6 - GAIN OR LOSS - BASIS OF PROPERTY; ADJUSTED BASIS
810-3-6-.09 - Basis Of Property Of A Subsidiary After Acquisition

Universal Citation: AL Admin Code R 810-3-6-.09

810-3-6-.09. Basis Of Property Of A Subsidiary After Acquisition

If an election under 26 U.S.C. § 338 is in effect for federal income tax purposes, the basis of property owned by a corporation shall be determined under 26 U.S.C. § 338 relating to the treatment of certain stock purchases as asset acquisitions. For interpretation of federal statutes adopted by the Alabama Legislature see Rule 810-3-1.1-.01, Operating Rules.

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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