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