25-U.S.C.-978

§978 – Taxes; Initial Exemption; Taxes Following Distribution; Valuation For Capital Gains Or Losses

Pathway

Title 25 > Chapter 14 > Subchapter XLVI > Section 978

Details

• Reference: Section 978
• Legend: §978 – Taxes; Initial Exemption; Taxes Following Distribution; Valuation For Capital Gains Or Losses
• USCode Year: 2013

Provision Content

No property distributed under the provisions of this subchapter shall at the time of distribution be subject to any Federal or State income tax. Following any distribution of property made under the provisions of this subchapter, such property and income derived therefrom by the distributee shall be subject to the same taxes, State and Federal as in the case of non-Indians: Provided, That for the purpose of capital gains or losses the base value of the property shall be the value of the property when distributed to the grantee.

(Pub. L. 87–629, §8, Sept. 5, 1962, 76 Stat. 430.)

U.S. Encyclopedia of Law Coverage

25-U.S.C.-972 in the Legal Encyclopedia: Indians

In this entry about 25-U.S.C.-972, find legal reference material, bibliographies and premiere content related to indians in the American Encyclopedia of Law, presenting a comprehensive view of the United States indians-specific issues, written by authorities in the field.

25-U.S.C.-983E in the Legal Encyclopedia: Tribes

In this entry about 25-U.S.C.-983E, find legal reference material, bibliographies and premiere content related to tribes in the American Encyclopedia of Law, presenting a comprehensive view of the United States tribes-specific issues, written by authorities in the field.

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