If a parent corporation makes a § 338 election,the subsidiary corporation need not be liquidated.

Name: If a parent corporation makes a § 338 election,the subsidiary corporation need not be liquidated.
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When a parent corporation makes a § 338 election, it is treated as if it had purchased the subsidiary corporation's assets and assumed its liabilities, causing a deemed liquidation of the subsidiary corporation. However, the subsidiary corporation need not be actually liquidated or dissolved.

If a Parent Corporation Makes a § 338 Election,the Subsidiary