Internal Revenue Service
Revenue Ruling

TaxLinks.com   sm

 Rev. Rul. 72-35

1972-1 C.B. 139

Sec. 483

IRS Headnote

Revenue Ruling 70-300, which discusses the applicability of section 483 of the Code to shares of stock to be distributed under a corporate reorganization, is clarified to state that the effective date of the reorganization is October 1, 1968.

Full Text

Rev. Rul. 72-35

Revenue Ruling 70-300, C.B. 1970-1, 125, discusses the applicability of section 483 of the Internal Revenue Code of 1954, to shares of stock to be distributed in connection with a corporate reorganization that qualifies within the meaning of section 368(a)(1)(B) of the Code.

It has been brought to the attention of the Internal Revenue Service that the effective date of the corporate reorganization was not stated in that Revenue Ruling.

Revenue Ruling 70-300 is hereby clarified to state that the effective date of the corporate reorganization in Revenue Ruling 70-300 is October 1, 1968.