[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: 26CFR1.338(i)-1]

[Page 154]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.338(i)-1  Effective dates.

    (a) In general. The provisions of Sec. Sec. 1.338-1 through 1.338-
7, 1.338-10 and 1.338(h)(10)-1 apply to any qualified stock purchase 
occurring after March 15, 2001. For rules applicable to qualified stock 
purchases on or before March 15, 2001, see Sec. Sec. 1.338-1T through 
1.338-7T, 1.338-10T, 1.338(h)(10)-1T and 1.338(i)-1T in effect prior to 
March 16, 2001 (see 26 CFR part 1 revised April 1, 2000).
    (b) Section 338(h)(10) elections for S corporation targets. The 
requirements of Sec. Sec. 1.338(h)(10)-1T(c)(2) and 1.338(h)(10)-
1(c)(2) that S corporation shareholders who do not sell their stock must 
also consent to an election under section 338(h)(10) will not invalidate 
an otherwise valid election made on the September 1997 revision of Form 
8023, ``Elections Under Section 338 For Corporations Making Qualified 
Stock Purchases,'' not signed by the nonselling shareholders, provided 
that the S corporation and all of its shareholders (including nonselling 
shareholders) report the tax consequences consistently with the results 
under section 338(h)(10).

[T.D. 8940, 66 FR 9954, Feb. 13, 2001]

      collapsible corporations; foreign personal holding companies