Source: https://irc.bloombergtax.com/public/uscode/doc/irc/302
Timestamp: 2019-08-22 19:58:47
Document Index: 654923503

Matched Legal Cases: ['§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302', '§ 302']

Internal Revenue Code, § 302. Distributions In Redemption Of Stock
I.R.C. § 302(a) General Rule —
I.R.C. § 302(b) Redemptions Treated As Exchanges
I.R.C. § 302(b)(1) Redemptions Not Equivalent To Dividends —
I.R.C. § 302(b)(2) Substantially Disproportionate Redemption Of Stock
I.R.C. § 302(b)(2)(A) In General —
I.R.C. § 302(b)(2)(B) Limitation —
I.R.C. § 302(b)(2)(C) Definitions —
For purposes of this paragraph, the distribution is substantially disproportionate if—
I.R.C. § 302(b)(2)(C)(i) —
the ratio which the voting stock of the corporation owned by the shareholder immediately after the redemption bears to all of the voting stock of the corporation at such time, is less than 80 percent of--
I.R.C. § 302(b)(2)(C)(ii) —
I.R.C. § 302(b)(2)(D) Series Of Redemptions —
I.R.C. § 302(b)(3) Termination Of Shareholder's Interest —
I.R.C. § 302(b)(4) Redemption From Noncorporate Shareholder In Partial Liquidation —
Subsection (a) shall apply to a distribution if such distribution is—
I.R.C. § 302(b)(4)(A) —
I.R.C. § 302(b)(4)(B) —
I.R.C. § 302(b)(5) Redemptions By Certain Regulated Investment Companies —
Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall apply to any distribution in redemption of stock of a publicly offered regulated investment company (within the meaning of section 67(c)(2)(B)) if—
I.R.C. § 302(b)(5)(A) —
I.R.C. § 302(b)(5)(B) —
I.R.C. § 302(b)(6) Application Of Paragraphs —
I.R.C. § 302(c) Constructive Ownership Of Stock
I.R.C. § 302(c)(1) In General —
I.R.C. § 302(c)(2) For Determining Termination Of Interest
I.R.C. § 302(c)(2)(A) —
In the case of a distribution described in subsection (b)(3), section 318(a)(1) shall not apply if—
I.R.C. § 302(c)(2)(A)(i) —
I.R.C. § 302(c)(2)(A)(ii) —
I.R.C. § 302(c)(2)(A)(iii) —
I.R.C. § 302(c)(2)(B) —
I.R.C. § 302(c)(2)(B)(i) —
I.R.C. § 302(c)(2)(B)(ii) —
I.R.C. § 302(c)(2)(C) Special Rule For Waivers By Entities
I.R.C. § 302(c)(2)(C)(i) In General —
I.R.C. § 302(c)(2)(C)(i)(I) —
I.R.C. § 302(c)(2)(C)(i)(II) —
In any case to which the preceding sentence applies, the second sentence of subparagraph (A) and subparagraph (B)(ii) shall be applied by substituting “distributee or any related person" for “distributee” each place it appears.
I.R.C. § 302(c)(2)(C)(ii) Definitions —
I.R.C. § 302(c)(2)(C)(ii)(I) —
I.R.C. § 302(c)(2)(C)(ii)(II) —
I.R.C. § 302(d) Redemptions Treated As Distributions Of Property —
I.R.C. § 302(e) Partial Liquidation Defined
I.R.C. § 302(e)(1) In General —
For purposes of subsection (b)(4), a distribution shall be treated as in partial liquidation of a corporation if—
I.R.C. § 302(e)(1)(A) —
I.R.C. § 302(e)(1)(B) —
I.R.C. § 302(e)(2) Termination Of Business —
I.R.C. § 302(e)(2)(A) —
The distribution is attributable to the distributing corporation's ceasing to conduct, or consists of the assets of, a qualified trade or business.
I.R.C. § 302(e)(2)(B) —
I.R.C. § 302(e)(3) Qualified Trade Or Business —
For purposes of paragraph (2), the term “qualified trade or business” means any trade or business which—
I.R.C. § 302(e)(3)(A) —
I.R.C. § 302(e)(3)(B) —
I.R.C. § 302(e)(4) Redemption May Be Pro Rata —
I.R.C. § 302(e)(5) Treatment Of Certain Pass-Thru Entities —
I.R.C. § 302(f) Cross References —
For special rules relating to redemption—
I.R.C. § 302(f)(1) Death Taxes —
I.R.C. § 302(f)(2) Section 306 Stock —
I.R.C. § 302(f)(3) Liquidations —
(Aug. 16, 1954, ch. 736, 68A Stat. 85 ; Oct. 4, 1976, Pub. L. 94-455, title XIX, 1906(b)(13)(A), 90 Stat. 1834; Dec. 24, 1980, Pub. L. 96-589, 5(b), 94 Stat. 3405; Sept. 3, 1982, Pub. L. 97-248, title II, 222(c), 228(a), 96 Stat. 478, 493; July 18, 1984, Pub. L. 98-369, div. A, title VII, 712(i)(1), 98 Stat. 948; Pub. L. 111-325, Sec. 306(a), Dec. 22, 2010, 124 Stat. 3537.)
2010--Subsec. (a). Pub. L. 111-325, Sec. 306(a)(2), amended subsec. (a) by substituting “(4), or (5)” for “or (4).
Subsec. (b)(5)-(6). Pub. L. 111-325, Sec. 306(a)(1), amended subsec. (b) by redesignating par. (5) as par. (6) and by adding a new par. (5).
1984--Subsec. (f)(3). Pub. L. 98-369 substituted “complete liquidation” for “partial or complete liquidation”.
1982--Subsec. (a). Pub. L. 97-248, 222(c)(3), substituted “paragraph (1), (2), (3), or (4)” for “paragraph (1), (2), or (3)”.
Subsec. (b)(4), (5). Pub. L. 97-248, 222(c)(1), (4), added par. (4), redesignated former par. (4) as (5) and substituted “paragraph (2), (3), or (4)” for “paragraph (2) or (3)” after “to meet the requirements of”, and “paragraph (1), (2), or (4)” for “paragraph (1) or (2)” after “and also the requirements of”.
Subsec. (c)(2)(C). Pub. L. 97-248, 228(a), added subpar. (C).
Subsecs. (e), (f). Pub. L. 97-248, 222(c)(2), added subsec. (e) and redesignated former subsec. (e) as (f).
1980--Subsec. (a). Pub. L. 96-589, 5(b)(2)(A), struck out reference to par. (4) of subsec. (b).
Subsec. (b)(4), (5). Pub. L. 96-589, 5(b)(1), (2)(B), redesignated par. (5) as (4) and struck out reference to par. (4) in two places. Former par. (4) was struck out.
1976--Subsec. (c)(2). Pub. L. 94-455 struck out “or his delegate” after “Secretary” wherever appearing.
Amendment by Pub. L. 111-325, Sec. 302(a), effective for distributions after the date of the enactment of this Act [Enacted: Dec. 22, 2010].
Section 228(b) of Pub. L. 97-248 provided that: “The amendment made by subsection (a) [amending this section]” shall apply with respect to distributions after August 31, 1982, in taxable years ending after such date.”
Section 222(f) of Pub. L. 97-248, as amended by Pub. L. 97-448, title III, 306(a)(6)(A), Jan. 12, 1983, 96 Stat. 2402; Pub. L. 99-514, 2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“(1) In general.--The amendments made by this section [amending sections 302, 306, 312, 331, 334, 336, 341, 346, 543, and 562 of this title and repealing section 338 of this title] shall apply to distributions after August 31, 1982.
“(A) Ruling requests.--The amendments made by this section shall not apply to distributions made by any corporation if--
“(B) Plans adopted before july 23, 1982.--The amendments made by this section shall not apply to distributions made pursuant to a plan of partial liquidation adopted before July 23, 1982.
“(C) Control acquired after 1981 and before july 23, 1982.--The amendments made by this section shall not apply to distributions made pursuant to a plan of partial liquidation adopted before October 1, 1982, where control of the corporation making the distributions was acquired after December 31, 1981, and before July 23, 1982.
“(D) Tender offer or binding contract outstanding on july 22, 1982.--
“(i) In general.--The amendments made by this section shall not apply to distributions made by a corporation if--
“(ii) Extension of time for adopting plan where acquisition subject to federal regulatory approval.--If the acquisition described in clause (i)(II) is subject to approval by a Federal regulatory agency, clause (i) shall be applied by substituting for ‘October 1, 1982’ the date which is 90 days after the date on which approval by the Federal regulatory agency of such acquisition becomes final.
“(iii) Special rule where offer subject to approval by foreign regulatory body.--In any case where an offer to acquire stock in a corporation was subject to intervention by a foreign regulatory body and a public announcement of such an offer resulted in the intervention by such foreign regulatory body before July 23, 1982--
“(iv) Special rule where one-third of shares acquired during march and april 1982.--If--
“(II) during March or April 1982, the acquiring corporation filed with the Federal Trade Commission notification of its intent to acquire control of the acquired corporation, subclause (II) of clause (i) shall not apply with respect to distributions made by the acquired corporation.
“(E) Insurance companies.--The amendments made by this section shall not apply to distributions made by an insurance company pursuant to a plan of partial liquidation adopted before October 1, 1982, where control was acquired by the distributee or its parent after December 31, 1980, and before July 23, 1982, and the conduct of the insurance business by the distributee is conditioned on approval by a State regulatory authority.
For purposes of this paragraph, the term ‘control’ has the meaning given to such term by section 368(c) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954 ], except that in applying such section both direct and indirect ownership of stock shall be taken into account.
“(3) Approval of plan by board of directors.--For purposes of--
“(B) applying section 346(a)(2) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of this Act) [Sept. 3, 1982] to distributions to which (but for paragraph (2)) the amendments made by this section would apply, a plan of liquidation shall be treated as adopted when approved by the corporation's board of directors.
“(4) Coordination with amendments made by section 224.--For purposes of section 338(e)(2)(C) of the Internal Revenue Code of 1986 (as added by section 224), any property acquired in a distribution to which the amendments made by this section do not apply by reason of paragraph (2) shall be treated as acquired before September 1, 1982.”
Amendment by Pub. L. 96-589 applicable to stock which is issued after Dec. 31, 1980, except as otherwise provided, see section 7(d)(2), (f) of Pub. L. 96-589, set out as a note under section 108 of this title.
Applicability of subsec. (b)(1) to the determination of gross investment income under sections 4940 and 4948(a) of this title, see section 101(l)(8) of Pub. L. 91-172, set out as a note under section 4940 of this title.