Rev. Rul. 76-525
Rev. Rul. 76-525; 1976-2 C.B. 98
DOCUMENT ATTRIBUTES
- Cross-Reference
26 CFR 1.332-2: Requirement for nonrecognition of gain or loss.
- Code Sections
- LanguageEnglish
- Tax Analysts Electronic Citationnot available
Citations: Rev. Rul. 76-525; 1976-2 C.B. 98
The retention by a subsidiary corporation of any property, no matter how small in amount, for the purpose of continuing the operation of its present business or for the purpose of engaging in a new business, will prevent the distribution of the property that is actually distributed to its parent from qualifying as a distribution in complete liquidation within the meaning of section 332 of the Internal Revenue Code of 1954.
As restated herein, Rev. Rul. 66-186, 1966-2 C.B. 112, is superseded.
DOCUMENT ATTRIBUTES
- Cross-Reference
26 CFR 1.332-2: Requirement for nonrecognition of gain or loss.
- Code Sections
- LanguageEnglish
- Tax Analysts Electronic Citationnot available
