US Codex
U.S.C.
Notes

§381. Carryovers in certain corporate acquisitions — Inbound Citations

26 U.S.C. § 381

Cited by 14 provisions in release 119-102.

Citations to 26 U.S.C. § 381 as a whole

  • 26 U.S.C. § 593(e)(1)
    Go to provision →
    (1) For purposes of this chapter, any distribution of property (as defined in section 317(a)) by a taxpayer having a balance described in subsection (g)(2)(A)(ii) to a shareholder with respect to its stock, if such distribution is not allowable as a deduction under section 591, shall be treated as made—
    (A) first out of its earnings and profits accumulated in taxable years beginning after December 31, 1951, (and, in the case of an S corporation, the accumulated adjustments account, as defined in section 1368(e)(1)) to the extent thereof,
    (B) then out of the balance taken into account under subsection (g)(2)(A)(ii) (properly adjusted for amounts charged against such reserves for taxable years beginning after December 31, 1987),
    (C) then out of the supplemental reserve for losses on loans, to the extent thereof,
    (D) then out of such other accounts as may be proper.
    This paragraph shall apply in the case of any distribution in redemption of stock or in partial or complete liquidation of a taxpayer having a balance described in subsection (g)(2)(A)(ii), except that any such distribution shall be treated as made first out of the amount referred to in subparagraph (B), second out of the amount referred to in subparagraph (C), third out of the amount referred to in subparagraph (A), and then out of such other accounts as may be proper. This paragraph shall not apply to any transaction to which section 381 applies, or to any distribution to the Federal Savings and Loan Insurance Corporation (or any successor thereof) or the Federal Deposit Insurance Corporation in redemption of an interest in a taxpayer having a balance described in subsection (g)(2)(A)(ii), if such interest was originally received by any such entity in exchange for assistance provided under a provision of law referred to in section 597(c). This paragraph shall not apply to any distribution of all of the stock of a bank (as defined in section 581) to another corporation if, immediately after the distribution, such bank and such other corporation are members of the same affiliated group (as defined in section 1504) and the provisions of section 5(e) of the Federal Deposit Insurance Act (as in effect on December 31, 1995) or similar provisions are in effect.
  • 26 U.S.C. § 7518(h)(1)
    Go to provision →
    (1) a transfer of a fund from one person to another person in a transaction to which section 381 applies may be treated as if such transaction did not constitute a nonqualified withdrawal, and
  • 46 U.S.C. § 53513(1)
    Go to provision →
    (1) a transfer of a capital construction fund from one person to another person in a transaction to which section 381 of the Internal Revenue Code of 1986 (26 U.S.C. 381) applies may be treated as if the transaction is not a nonqualified withdrawal; and

Citations to §381(a)

  • 26 U.S.C. § 45A(d)(3)(B)(i)
    Go to provision →
    (i) by a transaction to which section 381(a) applies if the employee continues to be employed by the acquiring corporation, or
  • 26 U.S.C. § 50(a)(6)(B)
    Go to provision →
    (B) a transaction to which section 381(a) applies.
  • 26 U.S.C. § 597(b)(1)
    Go to provision →
    (1) In the case of any acquisition of assets to which section 381(a) does not apply, the regulations prescribed under subsection (a) shall—
    (A) provide that Federal financial assistance shall be properly taken into account by the institution from which the assets were acquired, and
    (B) provide the proper method of allocating basis among the assets so acquired (including rights to receive Federal financial assistance).
  • 26 U.S.C. § 832(e)(5)
    Go to provision →
    (5) After applying paragraph (4), there shall be subtracted for the taxable year from the mortgage guaranty account and included in gross income—
    (A) the amount (if any) remaining which was added to the account for the tenth preceding taxable year,
    (B) the excess (if any) of the aggregate amount in the mortgage guaranty account over the aggregate amount in the reserve referred to in paragraph (1)(A). For purposes of determining such excess, the aggregate amount in the mortgage guaranty account shall be determined after applying subparagraph (A), and the aggregate amount in the reserve referred to in paragraph (1)(A) shall be determined by disregarding any amounts remaining in such reserve added for taxable years beginning before January 1, 1967,
    (C) an amount (if any) equal to the net operating loss for the taxable year computed without regard to this subparagraph, and
    (D) any amount improperly subtracted from the account under subparagraph (A), (B), or (C) to the extent that tax and loss bonds were redeemed with respect to such amount.
    If a company liquidates or otherwise terminates its mortgage guaranty insurance business and does not transfer or distribute such business in an acquisition of assets referred to in section 381(a), the entire amount remaining in such account shall be subtracted. Except in the case where a company transfers or distributes its mortgage guaranty insurance in an acquisition of assets referred to in section 381(a), if the company is not subject to the tax imposed by section 831 for any taxable year, the entire amount in the account at the close of the preceding taxable year shall be subtracted from the account in such preceding taxable year.
  • 26 U.S.C. § 904(f)(3)(C)(ii)
    Go to provision →
    (ii) a disposition of property to a domestic corporation in a distribution or transfer described in section 381(a).
  • 26 U.S.C. § 1388(j)(2)
    Go to provision →
    (2) If such an organization acquires the assets of another such organization in a transaction described in section 381(a), the acquiring organization may, in computing its net earnings for taxable years ending after the date of acquisition, offset losses of 1 or more allocation units of the acquiring or acquired organization against earnings of the acquired or acquiring organization, respectively, but only to the extent—
    (A) such earnings are properly allocable to periods after the date of acquisition, and
    (B) such earnings could have been offset by such losses if such earnings and losses had been derived from allocation units of the same organization.
  • 26 U.S.C. § 1396(d)(3)(B)(i)
    Go to provision →
    (i) by a transaction to which section 381(a) applies if the employee continues to be employed by the acquiring corporation, or

Citations to §381(c)

Citations to §381(c)(20)

  • 26 U.S.C. § 382(k)(1)
    Go to provision →
    (1) The term “loss corporation” means a corporation entitled to use a net operating loss carryover or having a net operating loss for the taxable year in which the ownership change occurs. Such term shall include any corporation entitled to use a carryforward of disallowed interest described in section 381(c)(20). Except to the extent provided in regulations, such term includes any corporation with a net unrealized built-in loss.

Citations to §381(c)(22)