Arizona § 43-242 - Change of taxpayer organization; nontaxable event
Full text of Arizona Arizona Revised Statutes § 43-242 — Change of taxpayer organization; nontaxable event, with citation guidance and answers to common questions.
§ 43-242. Change of taxpayer organization; nontaxable event
Notwithstanding any provision of the internal revenue code or any federal rule or regulation adopted pursuant to the internal revenue code, a change in the organizational structure of a corporation, including an S corporation, or a limited liability company, a partnership or any other entity, however organized, into another organizational structure is not a taxable event for the purposes of this title if there is no change among the owners, their ownership interests or the assets of the organization.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 43-242
What does Arizona Revised Statutes § 43-242 cover?
Section 43-242 ("Change of taxpayer organization; nontaxable event") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 43-242?
A common citation format is "Arizona Revised Statutes § 43-242" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 43-242 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.