26-U.S.C.-278

[§278 – Repealed. Pub. L. 99-514, Title Viii, §803(B)(6), Oct. 22, 1986, 100 Stat. 2356]

Pathway

Title 26 > Subtitle A > Chapter 1 > Subchapter B > Part IX > Section 278

Details

• Reference: Section 278
• Legend: [§278 – Repealed. Pub. L. 99-514, Title Viii, §803(B)(6), Oct. 22, 1986, 100 Stat. 2356]
• USCode Year: 2013

Provision Content

Section, added Pub. L. 91–172, title II, §216(a), Dec. 30, 1969, 83 Stat. 573; amended Pub. L. 91–680, §1(a), (b), (d), Jan. 12, 1971, 84 Stat. 2064; Pub. L. 94–455, title II, §207(b)(1), (2), Oct. 4, 1976, 90 Stat. 1538, related to capital expenditures incurred in planting and developing citrus and almond groves, and certain capital expenditures of farming syndicates.

Effective Date of Repeal

If any interest costs incurred after Dec. 31, 1986, are attributable to costs incurred before Jan. 1, 1987, the repeal of this section is applicable to such interest costs only to the extent such interest costs are attributable to costs which were required to be capitalized under section 263 of the Internal Revenue Code of 1954 and which would have been taken into account in applying section 189 of the Internal Revenue Code of 1954 (as in effect before its repeal by section 803 of Pub. L. 99–514) or, if applicable, section 266 of such Code, see section 7831(d)(2) of Pub. L. 101–239, set out as an Effective Date note under section 263A of this title.

Repeal applicable to costs incurred after Dec. 31, 1986, in taxable years ending after such date, except as otherwise provided, see section 803(d) of Pub. L. 99–514, set out as an Effective Date note under section 263A of this title.

U.S. Encyclopedia of Law Coverage

26-U.S.C.-271 in the Legal Encyclopedia: Income Taxes

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26-U.S.C.-263A in the Legal Encyclopedia: Tax Liability

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26-U.S.C.-269 in the Legal Encyclopedia: Taxation

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26-U.S.C.-264 in the Legal Encyclopedia: Liability

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