Section 77:7 Capital Distribution.
No distribution of capital, whether in liquidation or otherwise, shall be taxable as income, but accumulated profits shall not be regarded as capital.
Source. 1923, 65:4. PL 65:6. RL 78:6.
No distribution of capital, whether in liquidation or otherwise, shall be taxable as income, but accumulated profits shall not be regarded as capital.
Source. 1923, 65:4. PL 65:6. RL 78:6.