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Suppose Elijah and Zion each own 200 shares of North Corporation stock. Zion transfers property worth $60,000 to North for an additional 30 shares. Does
Suppose Elijah and Zion each own 200 shares of North Corporation stock. Zion transfers property worth $60,000 to North for an additional 30 shares.
- Does Sec. 351 apply to property transfers to an existing corporation?
- Does Sec. 351 apply to the scenario above? Explain why or why not.
- If not, what can be done to qualify the transaction for Sec. 351 treatment?
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Islamic Finance Law Economics And Practice
Authors: Mahmoud A. El-Gamal
1st Edition
0521864143,0511218117
