Common use of Treatment of S termination year Clause in Contracts

Treatment of S termination year. (a) In general. (b) Allocations other than pro rata. (1) Elections under section 1362(e)(3). (2) Purchase of stock treated as an asset purchase. (3) 50 percent change in ownership during S termination year. (c) Special rules. (1) S corporation that is a partner in a partnership. (2) Tax for the C short year. (3) Each short year treated as taxable year. (4) Year for carryover purposes. (5) Due date for S short year return. (6) Year in which income from S short year is includible. (d) Examples. § 1. 1362–4 Inadvertent terminations and inadvertently invalid elections. (a) In general.

Treatment of S termination year. (a) In general. (b) Allocations other than pro rata. (1) Elections under section 1362(e)(3). (2) Purchase of stock treated as an asset purchase. (3) 50 percent change in ownership during S termination year. (c) Special rules. (1) S corporation that is a partner in a partnership. (2) Tax for the C short year. (3) Each short year treated as taxable year. (4) Year for carryover purposes. (5) Due date for S short year return. (6) Year in which income from S short year is includible. (d) Examples. § 1. 1362–4 Inadvertent terminations and inadvertently invalid elections. (a) In general.

Treatment of S termination year. (a) In general. (b) Allocations other than pro rata. (1) Elections under section 1362(e)(3). (2) Purchase of stock treated as an asset purchase. (3) 50 percent change in ownership during S termination year. (c) Special rules. (1) S corporation that is a partner in a partnership. (2) Tax for the C short year. (3) Each short year treated as taxable year. (4) Year for carryover purposes. (5) Due date for S short year return. (6) Year in which income from S short year is includible. (d) Examples. § 1. 1362–4 Inadvertent terminations and inadvertently invalid elections. (a) In general.