Source: https://irc.bloombergtax.com/public/uscode/doc/irc/304
Timestamp: 2019-02-20 01:23:39
Document Index: 304686424

Matched Legal Cases: ['§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304', '§ 304']

Internal Revenue Code, § 304. Redemption Through Use Of Related Corporations
I.R.C. § 304(a) Treatment Of Certain Stock Purchases
I.R.C. § 304(a)(1) Acquisition By Related Corporation (Other Than Subsidiary) —
I.R.C. § 304(a)(1)(A) —
I.R.C. § 304(a)(1)(B) —
I.R.C. § 304(a)(2) Acquisition By Subsidiary —
I.R.C. § 304(a)(2)(A) —
I.R.C. § 304(a)(2)(B) —
the issuing corporation controls the acquiring corporation, then such property shall be treated as a distribution in redemption of the stock of the issuing corporation.
I.R.C. § 304(b) Special Rules For Application Of Subsection (a)
I.R.C. § 304(b)(1) Rules For Determinations Under Section 302(b) —
I.R.C. § 304(b)(2) Amount Constituting Dividend —
I.R.C. § 304(b)(2)(A) —
I.R.C. § 304(b)(2)(B) —
I.R.C. § 304(b)(3) Coordination With Section 351
I.R.C. § 304(b)(3)(A) Property Treated As Received In Redemption —
I.R.C. § 304(b)(3)(B) Certain Assumptions Of Liability, Etc.
I.R.C. § 304(b)(3)(B)(i) In General —
In the case of an acquisition described in section 351, subsection (a) shall not apply to any liability—
I.R.C. § 304(b)(3)(B)(i)(I) —
I.R.C. § 304(b)(3)(B)(i)(II) —
to which the stock is subject, if such liability was incurred by the transferor to acquire the stock. For purposes of the preceding sentence, the term “stock” means stock referred to in paragraph (1)(B) or (2)(A) of subsection (a).
I.R.C. § 304(b)(3)(B)(ii) Extension Of Obligations, Etc. —
I.R.C. § 304(b)(3)(B)(iii) Clause (i) Does Not Apply To Stock Acquired From Related Person Except Where Complete Termination —
I.R.C. § 304(b)(3)(B)(iii)(I) —
I.R.C. § 304(b)(3)(B)(iii)(II) —
I.R.C. § 304(b)(3)(C) Distributions Incident To Formation Of Bank Holding Companies —
I.R.C. § 304(b)(3)(C)(i) —
I.R.C. § 304(b)(3)(C)(ii) —
I.R.C. § 304(b)(3)(C)(iii) —
I.R.C. § 304(b)(3)(D) Definitions —
I.R.C. § 304(b)(3)(D)(i) Qualified Minority Shareholder —
I.R.C. § 304(b)(3)(D)(ii) BHC —
I.R.C. § 304(b)(4) Treatment Of Certain Intragroup Transactions
I.R.C. § 304(b)(4)(A) In General —
I.R.C. § 304(b)(4)(A)(i) —
I.R.C. § 304(b)(4)(A)(ii) —
the earnings and profits of any member of such group, to the extent necessary to carry out the purposes of this section.
I.R.C. § 304(b)(4)(B) Definitions —
I.R.C. § 304(b)(4)(B)(i) Affiliated Group —
I.R.C. § 304(b)(4)(B)(ii) Intragroup Stock —
I.R.C. § 304(b)(4)(B)(ii)(I) —
I.R.C. § 304(b)(4)(B)(ii)(II) —
I.R.C. § 304(b)(5) Acquisitions By Foreign Corporations
I.R.C. § 304(b)(5)(A) In General —
I.R.C. § 304(b)(5)(A)(i) —
which are attributable (under regulations prescribed by the Secretary) to stock of the acquiring corporation owned (within the meaning of section 958(a)) by a corporation or individual which is—
I.R.C. § 304(b)(5)(A)(i)(I) —
I.R.C. § 304(b)(5)(A)(i)(II) —
I.R.C. § 304(b)(5)(A)(ii) —
I.R.C. § 304(b)(5)(B) Special Rule In Case Of Foreign Acquiring Corporation —
I.R.C. § 304(b)(5)(B)(i) —
I.R.C. § 304(b)(5)(B)(ii) —
be includible in the earnings and profits of a controlled foreign corporation (as defined in section 957 and without regard to section 953(c)).
I.R.C. § 304(b)(5)(C) Regulations —
I.R.C. § 304(b)(6) Avoidance Of Multiple Inclusions, Etc. —
I.R.C. § 304(c) Control
I.R.C. § 304(c)(1) In General —
I.R.C. § 304(c)(2) Stock Acquired In The Transaction —
I.R.C. § 304(c)(2)(A) General Rule —
I.R.C. § 304(c)(2)(B) Definition Of Control Group —
I.R.C. § 304(c)(3) Constructive Ownership
I.R.C. § 304(c)(3)(A) In General —
I.R.C. § 304(c)(3)(B) Modification Of 50-Percent Limitations In Section 318 —
I.R.C. § 304(c)(3)(B)(i) —
paragraph (2)(C) of section 318(a) shall be applied by substituting “5 percent” for “50 percent”, and
I.R.C. § 304(c)(3)(B)(ii) —
paragraph (3)(C) of section 318(a) shall be applied--
I.R.C. § 304(c)(3)(B)(ii)(I) —
I.R.C. § 304(c)(3)(B)(ii)(II) —
(Aug. 16, 1954, ch. 736, 68A Stat. 89; Aug. 31, 1964, Pub. L. 88-554, 4(b)(1), 78 Stat. 763; Sept. 3, 1982, Pub. L. 97-248, title II, 226(a)(1)(A), (2), (3), 96 Stat. 490, 491; July 18, 1984, Pub. L. 98-369, div. A, title VII, 712(l)(1)-(5)(A), 98 Stat. 953, 954; Oct. 22, 1986, Pub. L. 99-514, title XVIII, 1875(b), 100 Stat. 2894; Dec. 22, 1987, Pub. L. 100-203, title X, 10223(c), 101 Stat. 1330-411; Nov. 10, 1988, Pub. L. 100-647, title II, 2004(k)(2), 102 Stat. 3605; Pub. L. 105-34, title X, Sec. 1013(a), (c), Aug. 5, 1997, 111 Stat 788; Pub. L. 105-206, title VI, Sec. 6010(d), July 22, 1998, 112 Stat 685; Pub. L. 111-226, title II, Sec. 215(a), Aug. 10, 2010; Pub. L. 113-295, Div. A, title II, Sec. 221(a)(48), Dec. 19, 2014, 128 Stat. 4010.)
2014—Subsec. (b)(3)(D). Pub. L. 113-295, Div. A, Sec. 221(a)(48)(B), amended subpar. (D) by striking “And Special Rules” from the heading.
Subsec. (b)(3)(D)(iii). Pub. L. 113-295, Div. A, Sec. 221(a)(48)(A), amended subpar. (D) by striking clause (iii). Before being struck, it read as follows:
“(iii) Special Rule In Case Of BHC's Formed Before 1985.—In the case of a BHC which is formed before 1985, clause (i) of subparagraph (C) shall not apply.”
2010—Subsec. (b)(5)(B)-(C). Pub. L. 111-226, Sec. 215(a), amended par. (5) by redesignating subpar. (B) as subpar. (C) and by adding a new subpar. (B).
1998--Subsec. (b)(5). Pub. L. 105-206, Sec. 6010(d)(1), amended par. (5) by striking subpar. (B) and redesignating subpar. (C) as subpar. (B). Prior to amendment subpar. (B) read as follows:
“(B) Application of section 1248.--
For purposes of subparagraph (A), the rules of section 1248(d) shall apply except to the extent otherwise provided by the Secretary.”
Subsec. (b)(6). Pub. L. 105-206, Sec. 6010(d)(2), amended subsec. (b) by adding par. (6).
1997--Subsec. (a)(1). Pub. L. 105-34, Sec. 103(a), amended the last sentence of par. (1). Prior to amendment it read as follows:
“To the extent that such distribution is treated as a distribution to which section 301 applies, the stock so acquired shall be treated as having been transferred by the person from whom acquired, and as having been received by the corporation acquiring it, as a contribution to the capital of such corporation.”
Subsec. (b)(5). Pub. L. 105-34, Sec. 1013(c), added par. (5).
1988--Subsec. (b)(4)(A). Pub. L. 100-647 substituted “stock from 1 member” for “stock of 1 member”.
1987--Subsec. (b)(4). Pub. L. 100-203 added par. (4).
1986--Subsec. (a)(1). Pub. L. 99-514 substituted “To the extent that such distribution is treated as a distribution to which section 301 applies” for “In any such case” in last sentence.
1984--Subsec. (b)(2). Pub. L. 98-369, 712(l)(1), consolidated former subpars. “(A) Where subsection (a)(1) applies” and “(B) Where subsection (a)(2) applies” in one paragraph, inserted provision respecting source of dividend, and incorporated in cls. (A) and (B) former subpar. (A) and (B) provisions which had required determination of amount which is a dividend to be made by reference to earnings and profits of the acquiring corporation and as if the property were distributed by the acquiring corporation to the issuing corporation and immediately thereafter distributed by the issuing corporation.
Subsec. (b)(3)(A). Pub. L. 98-369, 712(l)(2), substituted “section 351 and not so much of sections 357 and 358 as relates to section 351” for “part III”.
Subsec. (b)(3)(B)(i). Pub. L. 98-369, 712(l)(3)(A)(i), substituted “In the case of an acquisition described in section 351, subsection (a)” for “Subsection (a)”.
Subsec. (b)(3)(B)(iii). Pub. L. 98-369, 712(l)(3)(B), added cl. (iii).
Subsec. (b)(3)(C). Pub. L. 98-369, 712(l)(4), inserted following cl. (iii) “For purposes of this subparagraph, any assumption of (or acquisition of stock subject to) a liability under subparagraph (B) shall not be treated as a distribution of property.”
Subsec. (c)(3). Pub. L. 98-369, 712(l)(5)(A), designated existing first sentence as subpar. “(A) In general” and substituted subpar. (B) for former second sentence which read “For purposes of the preceding sentence, sections 318(a)(2)(C) and 318(a)(3)(C) shall be applied without regard to the 50 percent limitation contained therein.”
1982--Subsec. (b)(2)(A). Pub. L. 97-248, 226(a)(3), substituted “as if the property were distributed by the issuing corporation to the acquiring corporation and immediately thereafter distributed by the acquiring corporation” for “solely by reference to the earnings and profits of the acquiring corporation” after “dividend shall be made”.
Subsec. (b)(3). Pub. L. 97-248, 226(a)(1)(A), added par. (3).
Subsec. (c)(2), (3). Pub. L. 97-248, 226(a)(2), added par. (2), redesignated former par. (2) as (3) and substituted “this section” for “paragraph (1)” after “determining control under”.
1964--Subsecs. (b)(1), (c)(2). Pub. L. 88-554 inserted reference to section 318(a)(3)(C) of this title.
Amendments by Pub. L. 113-295, Div. A, Sec. 221(a)(48), effective on the date of the enactment of this Act [Enacted: Dec. 19, 2014].
Amendments by Sec. 215(a) of Pub. L. 111-226 effective for acquisitions after the date of the enactment of this Act [Enacted: Aug. 10, 2010].
Amendments by Sec. 6010(d) of Pub. L. 105-206 effective as if included in the amendments of the Taxpayer Relief Act of 1997 to which they relate [Effective Date of Pub. L. 105-34, Sec. 1013: Distributions and acquisitions after June 8, 1997. See Effective Date of 1997 Amendments below for a transition rule].
Amendments by Sec. 1013 of Pub. L. 105-34 effective for distributions and acquisitions after June 8, 1997. Sec. 1013(d)(2) of Pub. L. 105-34 provided the following transition rule:
“(2) Transition rule.--The amendments made by this section shall not apply to any distribution or acquisition after June 8, 1997, if such distribution or acquisition is--
(C) described in a public announcement or filing with the Securities and Exchange Commission on or before such date.”
Section 10223(d) of Pub. L. 100-203, as amended by Pub. L. 100-647, title II, 2004(k)(3), (4), Nov. 10, 1988, 102 Stat. 3605, 3606, provided that:
“(1) In general.--The amendments made by this section [amending sections 304, 337, and 355 of this title] shall apply to distributions or transfers after December 15, 1987.
“(A) Distributions.--The amendments made by this section shall not apply to any distribution after December 15, 1987, and before January 1, 1993, if--
“(ii) 80 percent or more of the stock of the distributing corporation was acquired by the distributee before January 1, 1989, pursuant to a binding written contract or tender offer in effect on December 15, 1987.For purposes of the preceding sentence, stock described in section 1504(a)(4) of the Internal Revenue Code of 1986 shall not be taken into account.
“(B) Section 304 transfers.--The amendment made by subsection (c) [amending this section] shall not apply to any transfer after December 15, 1987, and on or before March 31, 1988, if such transfer is--
“(C) Distributions covered by prior transition rule.--The amendments made by this section shall not apply to any distribution to which the amendments made by subtitle D of title VI of the Tax Reform Act of 1986 [sections 631 to 634 of Pub. L. 99-514, see Tables for classification] do not apply.
“(D) Treatment of certain members of affiliated group.--
“(i) In general.--For purposes of subparagraph (A), all corporations which were in existence on the designated date and were members of the same affiliated group which included the distributees on such date shall be treated as 1 distributee.
“(ii) Limitation to stock held on designated date.--Clause (i) shall not exempt any distribution from the amendments made by this section if such distribution is with respect to stock not held by the distributee (determined without regard to clause (i)) on the designated date directly or indirectly through a corporation which goes out of existence in the transaction.
“(iii) Designated date.--For purposes of this subparagraph, the term ‘designated date’ means the later of--
Section 712(l)(7) of Pub. L. 98-369, as amended by Pub. L. 99-514, 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“(A) In general.--Except as otherwise provided in this paragraph, the amendments made by paragraphs (1) and (3) [amending this section] shall apply to stock acquired after June 18, 1984, in taxable years ending after such date.
“(B) Election by taxpayer to have amendments apply earlier.--Any taxpayer may elect, at such time and in such manner as the Secretary of the Treasury or his delegate may prescribe, to have the amendments made by paragraphs (1) and (3) apply as if included in section 226 of the Tax Equity and Fiscal Responsibility Act of 1982 [section 226 of Pub. L. 97-248, which amended sections 304 and 306 of this title and enacted Effective Date of 1982 Amendment note set out below].
“(C) Special rule for certain transfers to form bank holding company.--Except as provided in subparagraph (D), the amendments made by paragraphs (1) and (3) shall not apply to transfers pursuant to an application to form a BHC (as defined in section 304(b)(3)(D)(ii) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954]) filed with the Federal Reserve Board before June 18, 1984, if--
“(D) Amendments to apply to certain liabilities incurred before october 20, 1983.--The amendment made by paragraph (3)(A) shall apply to the acquisition of any stock to the extent the liability assumed, or to which such stock is subject, was incurred by the transferor after October 20, 1983.”
Amendment by section 712(l)(2), (4), (5)(A) of Pub. L. 98-369 effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. L. 97-248, to which such amendment relates, see section 715 of Pub. L. 98-369, set out as a note under section 31 of this title.
Section 226(c) of Pub. L. 97-248 provided that:
“(1) In general.--Except as provided in paragraph (2), the amendments made by this section [amending sections 304, 306, and 351 of this title] shall apply to transfers occurring after August 31, 1982, in taxable years ending after such date.
“(2) Approval by federal reserve board.--The amendments made by this section shall not apply to transfers pursuant to an application to form a BHC filed with the Federal Reserve Board before August 16, 1982, if the BHC was formed not later than the later of--
Amendment by Pub. L. 88-554 effective Aug. 31, 1964, except that for purposes of this section and section 302 of this title, such amendments shall not apply to distributions in payment for stock acquisitions or redemptions, if such acquisition or redemption occurred before Aug. 31, 1964, see section 4(c) of Pub. L. 88-554, set out as a note under section 318 of this title.