Alabama Administrative Code
Title 810 - Alabama Department of Revenue
Chapter 810-3-6 - GAIN OR LOSS - BASIS OF PROPERTY; ADJUSTED BASIS
810-3-6-.17 - Allocation Of Basis

Universal Citation: AL Admin Code R 810-3-6-.17

810-3-6-.17. Allocation Of Basis

Effective for tax years beginning after December 31, 1997, if property is acquired in an applicable asset acquisition as defined by 26 U.S.C. § 1060, the basis of the acquired property shall be determined in accordance with 26 U.S.C. § 1060. Federal regulations and determinations for 26 U.S.C. § 1060 will be followed in the administration of this section.

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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