Alabama Administrative Code
Title 810 - ALABAMA DEPARTMENT OF REVENUE
Chapter 810-3-8 - RECOGNITION OF GAIN OR LOSS
Section 810-3-8-.08 - Exchange Of Stock For Property

Universal Citation: AL Admin Code R 810-3-8-.08
Current through Register Vol. 42, No. 11, August 30, 2024

For transactions occurring after December 31, 1984, no gain or loss will be recognized by a corporation on the receipt of money or other property in exchange for the stock of the corporation, including treasury stock or with respect to the acquisition or lapse of an option to buy or sell its stock. Federal regulations and decisions of federal courts and agencies regarding the exchange of stock for property will generally be followed in the administration of this regulation.

Authors: Verlon R. Frost, Jeff Taylor

Statutory Authority: Code of Ala. 1975, §§ 40-18-8, 40-18-57.

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