twelve month liquidation

A liquidation occurring within 12 months from adoption of the liquidation plan to complete liquidation, subject to a tax law prohibiting the company from recognizing any gains or losses on property sold within that time frame.

• Generally, inventory will not be included unless a bulk sale occurs. IRC § 337. [Cases: Internal Revenue 3698, 3711. C.J.S. Internal Revenue §§ 400, 403.]

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词条贡献者

法律翻译亚明，毕业于欧洲顶尖的高级翻译学院，专注翻译各类与汽车与运输有关的法律文件。