A Liquidation of a Corporation Always Is a Taxable Event

question 64

True/False

A liquidation of a corporation always is a taxable event for the shareholder(s) of the liquidated corporation.

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Definitions:

Spouse

A person's legally married partner or significant other in a matrimonial or civil union.

Unemployment Insurance Fund

The Unemployment Insurance Fund is a government fund that provides temporary financial assistance to eligible workers who have lost their jobs through no fault of their own.

Unemployment Taxes

Taxes imposed on employers, based on their payroll, to fund unemployment insurance benefits for workers who have lost their jobs.

Federal Government

The national government of a federated country, which holds the overall political authority over that nation.