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2018 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes
Chapter 1 - Normal Taxes and Surtaxes
Subchapter N - Tax Based on Income From Sources Within or Without the United States
Part IV - Domestic International Sales Corporations
Subpart B - Treatment of Distributions to Shareholders
Sec. 997 - Special subchapter C rules
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| 26 U.S.C. § 997 (2018) |
| §997. Special subchapter C rules |
|
For purposes of applying the provisions of subchapter C of chapter 1, any distribution in property to a corporation by a DISC or former DISC which is made out of previously taxed income or accumulated DISC income shall— (1) be treated as a distribution in the same amount as if such distribution of property were made to an individual, and (2) have a basis, in the hands of the recipient corporation, equal to the amount determined under paragraph (1). |
|
(Added Pub. L. 92–178, title V, §501, Dec. 10, 1971, 85 Stat. 549.) |
| United States Code, 2018 Edition, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter N - Tax Based on Income From Sources Within or Without the United States PART IV - DOMESTIC INTERNATIONAL SALES CORPORATIONS Subpart B - Treatment of Distributions to Shareholders Sec. 997 - Special subchapter C rules |
| section 997 |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 85 Stat. 549 |
| Public Law 92-178 |
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