What is COLLAPSIBLE CORPORATION? Definition of COLLAPSIBLE CORPORATION in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
In income tax law, for purpose of determining whether gain from the sale or exchange of stock is gain from the sale or exchange of a capital asset or gain from the sale or exchange of property which is not a capital asset, a corporation formed or availed of principally for the manufacture, construction, or production of property, or for the holding of stock in a corporation so formed or availed of, with a view to the sale or exchange of stock by its shareholders, or a distribution to its shareholders, prior to the realization by such corporation of a substantial part of the net income to be derived from such property, and the realization by such shareholders of gain attributable to such property. 26 U.S.C.A. § 117.
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