Texas Corporation liquidates through a series of distributions to its shareholders after a plan of liquidation has

Question:

Texas liquidates through a series of distributions to its shareholders after a plan of has been adopted. How are these distributions taxed?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due....