A cash liquidating distribution are funds distributed to a shareholder when a corporation is partially or fully liquidated. The distribution represents a return of an investor’s capital, so it’s not taxable to the extent of basis in the stock. If the distribution exceeds basis, it is a capital gain (long-term or short-term depending upon how long the stock has been held).
The legal transfer of property, rights, or interest to another person called an assignee. You cannot avoid tax on income by assigning the income to another person.