§997. Special subchapter C rules
Primary source
Verbatim text below is from the United States Code (GovInfo), a public-domain U.S. government work.
Full Text
§997. Special subchapter C rules
For purposes of applying the provisions of subchapter C of chapter 1, any distribution in property to a corporation by a DISC or former DISC which is made out of previously taxed income or accumulated DISC income shall—
(1) be treated as a distribution in the same amount as if such distribution of property were made to an individual, and
(2) have a basis, in the hands of the recipient corporation, equal to the amount determined under paragraph (1).
Recent related rulemaking (Federal Register)
No recent rulemaking references this section title in the Federal Register.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.