[Verse 1] When the company dissolves and shuts its doors Shareholders cash out, selling all their shares Section three-three-one controls the scores Gain or loss depends on what they paired Stock basis versus what they receive Capital treatment, that's what they'll achieve [Chorus] Three-three-one for shareholders counting gains Three-three-six makes corporations pay Three-three-two and seven break the chains When eighty percent owns the liquidating day Complete liquidations, five rules to know Tax consequences wherever you go [Verse 2] Corporate level, three-three-six's reign Recognition hits like property sales No more non-recognition game Every asset triggers taxable tales Built-in gains cannot hide away Distribution forces the company to pay [Chorus] Three-three-one for shareholders counting gains Three-three-six makes corporations pay Three-three-two and seven break the chains When eighty percent owns the liquidating day Complete liquidations, five rules to know Tax consequences wherever you go [Bridge] But wait, there's magic in the parent-sub dance Eighty percent or more creates romance Three-three-two lets shareholders slide tax-free Three-three-seven keeps the corp's books clean, you see No gain, no loss on either side When ownership percentage is your guide [Verse 3] Liquidation-reincorporation scheme Courts will pierce through the corporate veil If continuity reveals the dream Substance over form will never fail Same business, same shareholders in place Reorganization rules will win the case [Final Chorus] Three-three-one for shareholders counting gains Three-three-six makes corporations pay Three-three-two and seven break the chains When eighty percent owns the liquidating day Watch for schemes that try to bend the law Complete liquidations without a flaw [Outro] Five complete liquidation tools Master these essential rules
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