2019 US Code
Title 26 - Internal Revenue Code
Subtitle A - Income Taxes
Chapter 1 - Normal Taxes and Surtaxes
Subchapter G - Corporations Used to Avoid Income Tax on Shareholders
Part IV - Deduction for Dividends Paid
Sec. 561 - Definition of deduction for dividends paid
| 26 U.S.C. § 561 (2019) |
| §561. Definition of deduction for dividends paid |
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(a) General rule
The deduction for dividends paid shall be the sum of— (1) the dividends paid during the taxable year, (2) the consent dividends for the taxable year (determined under section 565), and (3) in the case of a personal holding company, the dividend carryover described in section 564. In determining the deduction for dividends paid, the rules provided in section 562 (relating to rules applicable in determining dividends eligible for dividends paid deduction) and section 563 (relating to dividends paid after the close of the taxable year) shall be applicable. |
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(Aug. 16, 1954, ch. 736, 68A Stat. 198; Pub. L. 87–403, §3(f), Feb. 2, 1962, 76 Stat. 8; Pub. L. 94–455, title XIX, §1901(b)(32)(H), Oct. 4, 1976, 90 Stat. 1800.) |
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AMENDMENTS
1976—Subsec. (b). Pub. L. 94–455 redesignated existing provisions of par. (1) as subsec. (b) and struck out par. (2) relating to special adjustment on disposition of antitrust stock as a dividend. 1962—Subsec. (b). Pub. L. 87–403 designated existing provisions as par. (1) and added par. (2). EFFECTIVE DATE OF 1976 AMENDMENTAmendment by Pub. L. 94–455 applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as a note under section 2 of this title. EFFECTIVE DATE OF 1962 AMENDMENTAmendment by Pub. L. 87–403 applicable only with respect to distributions made after Feb. 2, 1962, see section 3(g) of Pub. L. 87–403, set out as a note under section 312 of this title. |
| United States Code, 2018 Edition, Supplement 1, 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 G - Corporations Used to Avoid Income Tax on Shareholders PART IV - DEDUCTION FOR DIVIDENDS PAID Sec. 561 - Definition of deduction for dividends paid |
| section 561 |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 76 Stat. 8 90 Stat. 1800 |
| Public Law 87-403, Public Law 94-455 |
