Pennsylvania Code (Last Updated: April 5, 2016) |
Title 61. REVENUE |
PART I. Department of Revenue |
Subpart B. General Fund Revenues |
Article V. Personal Income Tax |
Chapter 107. Partnerships and Associations |
Section 107.5. Liquidation of a partnership or association
Latest version.
-
The transfer of cash or property to a partner or member of a partnership or association in liquidation of his interest therein shall give rise to gain or loss to the extent of the difference between the cash and fair market value of other property received and the base of the partner or member for his partnership or association interest immediately before the distribution.