A Short & Happy Guide to Corporate Taxation by David Elkins

Author:David Elkins
Language: eng
Format: epub
ISBN: 9781647087906
Publisher: West Academic Publishing
Published: 2021-10-15T00:00:00+00:00

H.Partial Liquidations

The three provisions that we already discussed examined the effect of the redemption from the perspective of the shareholder. We saw that if the shareholder’s proportionate stake in the 101

corporation was sufficiently reduced (each case according to its own criteria), the redemption would be treated as a sale.

Partial liquidation is the odd man out for two reasons. First, it examines the redemption from the perspective of the corporation rather than from the perspective of the shareholder. Second, the partial liquidation provision only applies in the case of individuals. For corporate shareholders, unless one of the other provisions kicks in, a partial liquidation will be treated as a distribution.25

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