Mississippi Administrative Code
Title 35 - Department of Revenue
Part 3 - Income and Franchise
Subpart 08 - Corporations
Chapter 01 - Liquidations and Distributions
Section 35-3-08-01-107 - Partial liquidation defined
Universal Citation: MS Code of Rules 35-3-08-01-107
Current through September 24, 2024
A distribution is treated as in partial liquidation of a corporation if:
1. The distribution is one of a series of distributions in redemption of all the stock of the corporation pursuant to a plan of complete liquidation, or
2. The distribution is:
a. not essentially equivalent to a
dividend,
b. in redemption of a
part of the stock of the corporation pursuant to a plan, and
c. occurs within the taxable year in which
the plan is adopted or within the succeeding taxable income.
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