[Code of Federal Regulations]
[Title 26, Volume 4]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.332-3]

[Page 70]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.332-3  Liquidations completed within one taxable year.

    If in a liquidation completed within one taxable year pursuant to a 
plan of complete liquidation, distributions in complete liquidation are 
received by a corporation which owns the specified amount of stock in 
the liquidating corporation and which continues qualified with respect 
to the ownership of such stock until the transfer of all the property 
within such year is completed (see paragraph (a) of Sec. 1.332-2), then 
no gain or loss shall be recognized with respect to the distributions 
received by the recipient corporation. In such case no waiver or bond is 
required of the recipient corporation under section 332.