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Unformatted text preview: Kenneth E. Anderson, Thomas R Pope, and John L. Kramer; Prentice Hall, 2011. Topic 2 What do you see as the intent behind Section 332 rules? Professor and Class Main Post, While reading this weeks reading material I learned that the main intent of Section 332 is to show that a corporation gets property from its subsidiaries it shows no gain or loss on the liquidation. However a partent company must own at least 80% of the subsidiaries stock, when the subsidiary is to be liquidated. The purpose of this sections is to help corporations avoid any tax consequences as well as any financial hardships that the could run into. References: Prentice Halls' Federal Taxaction (2011); Coporations, Partnerships, Estates and Trusts; Kenneth E. Anderson, Thomas R Pope, and John L. Kramer; Prentice Hall, 2011....
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This note was uploaded on 10/04/2011 for the course ACCOUNTING AC 430 taught by Professor Johndavis during the Spring '09 term at Kaplan University.
- Spring '09