Tax Consequences of a Corporate Liquidation. Pamela owns 100% of Sigma Corpora tion's stock. She purchased her stock ten years ago, and her current basis for the stockis $300,000. On June 10 , Pamela decided to liquidate Sigma. Sigma's balance sheet prior to the sale of the assets, payment of the liquidation expenses, and payment of federal income taxes is as follows: - The corporation claimed depreciation of $150,000 on the equipment. Pamela three years eaved the marketable securities as a capital contribution FMV was $70,000. - Sigma incurred $20,000 in liquidation expenses in its final tax year. a. What are the tax consequences of the liquidation to Pamela and Sigma Corpo b. How would corporate tax rate. years ago? Liquidation of a Subsidian Corporation Tax Consequences of a Corporate Liquidation. Pamela owns 100% of Sigma Corpora tion's stock. She purchased her stock ten years ago, and her current basis for the stockis $300,000. On June 10 , Pamela decided to liquidate Sigma. Sigma's balance sheet prior to the sale of the assets, payment of the liquidation expenses, and payment of federal income taxes is as follows: - The corporation claimed depreciation of $150,000 on the equipment. Pamela three years eaved the marketable securities as a capital contribution FMV was $70,000. - Sigma incurred $20,000 in liquidation expenses in its final tax year. a. What are the tax consequences of the liquidation to Pamela and Sigma Corpo b. How would corporate tax rate. years ago? Liquidation of a Subsidian Corporation