§ 331. Gain or loss to shareholder in corporate liquidations

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1954

   Aug. 16, 1954, ch. 736, 68A Stat. 101 · 68A Stat. 101

   Enacted · 26 U.S.C. § 331

   Aug. 16, 1954, ch. 736, 68A Stat. 101

   Source evidence

   Code source credit
   Aug. 16, 1954, ch. 736, 68A Stat. 101

2. 1964

   Revenue Act of 1964

   Pub. L. 88–272 title II § 225(f)(2) · 78 Stat. 19

   Inserted · 26 U.S.C. § 331(b)

   Pub. L. 88–272 inserted “(other than a distribution referred to in paragraph (2)(B) of section 316(b))”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 88–272 inserted “(other than a distribution referred to in paragraph (2)(B) of section 316(b))”.

   Enacted provision · exact public law section
   (2) Section 331(b) (relating to nonapplication of section 301) is amended by inserting after “any distribution of property” the phrase “(other than a distribution referred to in paragraph Ante, p. 87. 26 USC 562. (2) (B) of section 316(b))”.

3. 1976

   Pub. L. 94–455 title XIX § 1901(b)(28)(A) · 90 Stat. 1520

   1. Substituted · 26 U.S.C. § 331(c)

      Pub. L. 94–455 substituted “reference” for “references” in heading

   2. Struck · 26 U.S.C. § 331(c)

      Pub. L. 94–455 struck out cross reference relating to general rule for determination of the amount of gain or loss to the distributee

   3. Substituted · 26 U.S.C. § 331(c)

      Pub. L. 94–455 substituted “section 1001” for “section 1002”

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 94–455 substituted “reference” for “references” in heading and struck out cross reference relating to general rule for determination of the amount of gain or loss to the distributee and substituted “section 1001” for “section 1002”.

   Enacted provision · exact public law section
   (A) Subsection (c) of section 331 is amended to read as 26 USC 331. follows: “(c) Cross Reference.— “For general rule for determination of the amount of gain or loss recognized, see section 1001.”

4. 1982

   Pub. L. 97–248 § 222(a) · 96 Stat. 324

   Substituted · 26 U.S.C. § 331(a)

   Pub. L. 97–248, § 222(a), substituted provisions that amounts received by a shareholder in a distribution in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock for provisions that, in complete liquidations, amounts distributed shall be treated as in full payment in exchange for the stock, while amounts distributed in partial liquidation shall be treated as in part or full payment in exchange for the stock

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 97–248, § 222(a), substituted provisions that amounts received by a shareholder in a distribution in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock for provisions that, in complete liquidations, amounts distributed shall be treated as in full payment in exchange for the stock, while amounts distributed in partial liquidation shall be treated as in part or full payment in exchange for the stock.

   Enacted provision · exact public law section
   (a) Section 331 (Which Provides Capital Gain or Loss Treatment for Shareholders in Liquidations) Limited to Complete Liquidations.— Subsection (a) of section 331 (relating to gain or loss 26 USC 331. to shareholders in corporate liquidations) is amended to read as follows: “(a) Distributions in Complete Liquidation Treated as Exchanges.— Amounts received by a shareholder in a distribution in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock.”

   Effective date note
   Amendment by Pub. L. 97–248 applicable to distributions after Aug. 31, 1982, with exceptions for certain partial liquidations, see section 222(f) of Pub. L. 97–248, set out as a note under section 302 of this title.

5. 1982

   Pub. L. 97–248 § 222(e)(1)(B) · 96 Stat. 324

   Struck · 26 U.S.C. § 331(b)

   Pub. L. 97–248, § 222(e)(1)(B), struck out “partial or” before “complete liquidation”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 97–248, § 222(e)(1)(B), struck out “partial or” before “complete liquidation”.

   Enacted provision · exact public law section
   (B) Subsection (b) of section 331 (relating to nonapplication 26 USC 331. of section 301).

   Effective date note
   Amendment by Pub. L. 97–248 applicable to distributions after Aug. 31, 1982, with exceptions for certain partial liquidations, see section 222(f) of Pub. L. 97–248, set out as a note under section 302 of this title.

6. 2018

   Energy and Water Development and Related Agencies Appropriations Act, 2018

   Pub. L. 115–141 div. U title IV § 401(a)(63) · 132 Stat. 348

   Substituted · 26 U.S.C. § 331

   Pub. L. 115–141 substituted “shareholder” for “shareholders” in section catchline

   Source evidence

   Code amendment note
   Pub. L. 115–141 substituted “shareholder” for “shareholders” in section catchline.

   Enacted provision · exact public law section
   Sec. 401. The Nuclear Regulatory Commission shall comply with the July 5, 2011, version of Chapter VI of its Internal Commission Procedures when responding to Congressional requests for information.

7 of 8 references resolved to an enrolled provision · 1 partial