The General Rule for Tax Attributes of Liquidating Corporations Is

question 66

Multiple Choice

The general rule for tax attributes of liquidating corporations is

• A)they disappear when the liquidation is complete.
• B)they carry over for five years.
• C)they disappear only for controlled subsidiary corporations.
• D)they carry over for an indefinite period of time.

---

Definitions:

Tort Law

The area of law that deals with civil wrongs, not arising out of contractual obligations, for which the injured party may receive damages or equitable relief.

Compensate

To provide something, usually money, in recognition of loss, suffering, or damage experienced by an individual or entity.

Future Harms

Potential damage or adverse outcomes that may occur in the future as a result of current actions or decisions.

Intentional Tort

A wrongful act deliberately committed with the intent to cause harm to another, leading to civil liability.