Title 26
SECTION 1.312-5
1.312-5 Special rule for partial liquidations and certain redemptions.
§ 1.312-5 Special rule for partial liquidations and certain redemptions.The part of the distribution properly chargeable to capital account within the provisions of section 312(e) shall not be considered a distribution of earnings and profits within the meaning of section 301 for the purpose of determining taxability of subsequent distributions by the corporation.