Intel Corporation (INTC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC)

INTC 36.78

+2.7%

Nov 26 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: GVTucker who wrote (174348)	5/2/2003 7:14:05 PM
From: The Duke of URL©	Read Replies (1) of 186894

Sorry for the messiness, I ripped this out of some IRS opinion letter I found, but it is generally a fair statement of the applicable TAX law: LAW I.R.C. § 1032(a) provides that no gain or loss shall be recognized to a corporation on the receipt of money or ther property in exchange for stock (including treasury stock) of such corporation. I.R.C. § 311(a) provides, except as provided in subsection (b), no gain or loss shall be recognized to a corporation on the distribution of property (not in complete liquidation) with respect to its stock. I.R.C. § 311(b) provides, if a corporation distributes property (other than obligation of such corporation) to a shareholder in a distribution to which subpart A applies, and the fair market value of such property exceeds its adjusted basis (in the hands of the distributing corporation), then gain shall be recognized to the distributing corporation as if such property were sold to the distributee at its fair market value. I.R.C. § 317 provides that the term “property” means money, securities, and any other property.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next