Irc Section 356

If an exchange is described in paragraph 1 but has the effect of the distribution of a dividend determined with the application of section 318 a then there shall be treated as a dividend to each distributee such an amount of the gain recognized under paragraph 1.

Irc section 356. 356 a 1 b the property received in the exchange consists not only of property permitted by section 354 or 355 to be received without the recognition of gain but also of other property or money. For more detailed codes research information including annotations and citations please visit westlaw. Irc 367 b provides that in the case of any exchange described in irc 332 351 354 355 356 or 361 in connection with which there is no transfer of property described in irc 367 a 1 a foreign corporation shall be considered to be a corporation except to the extent provided in regulations which are necessary or appropriate to prevent the avoidance of federal income taxes.

Receipt of additional consideration on westlaw. 354 or 355 would apply to the exchange or distribution but for the fact that property other than stock or securities is also received in the exchange. Receipt of additional consideration.

Section 356 in the indian penal code 356. Section 356 a 2 s role in corporate reorganizations reorganization is part of the lexicon of tax lawyers that re fers to transactions that meet the definitional requirements of sec tion 368 a 1 of the code. 356 c disallows recognition of a loss on an exchange or distribution if the nonrecognition rules of sec.

Section 351 a provides that no gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock in such corporation and immediately after the exchange such person or persons are in control. Internal revenue code 356. In the case of an exchange to which section 355 or so much of section 356 as relates to section 355 applies then in making the allocation under paragraph 1 of this subsection there shall be taken into account not only the property so permitted to be received without the recognition of gain or loss but also the stock or securities if any of the distributing corporation which are retained and the allocation of basis shall be made among all such properties.