Which of the following statements does not describe a tax consequence to shareholders in a complete liquidation? multiple choice all complete liquidations are taxable to the shareholders. complete liquidations are taxable to all individual shareholders. complete liquidations are taxable to all corporate shareholders owning stock of the liquidated corporation representing less than 80 percent or more of voting power and value. complete liquidations are tax deferred to corporate shareholders owning stock of the liquidated corporation representing 80 percent or more of voting power and value.