26-U.S.C.-997
§997 – Special Subchapter C Rules
Pathway
Title 26 > Subtitle A > Chapter 1 > Subchapter N > Part IV > Subpart B > Section 997
Details
- Reference: Section 997
- Legend: §997 – Special Subchapter C Rules
- USCode Year: 2013
Provision Content
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.)
U.S. Encyclopedia of Law Coverage
26-U.S.C.-987 in the Legal Encyclopedia: Income Taxes
In this entry about 26-U.S.C.-987, find legal reference material, bibliographies and premiere content related to income taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States income taxes-specific issues, written by authorities in the field.
26-U.S.C.-982 in the Legal Encyclopedia: Tax Liability
In this entry about 26-U.S.C.-982, find legal reference material, bibliographies and premiere content related to tax liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax liability-specific issues, written by authorities in the field.
Subpart I – Admissibility of Documentation Maintained In Foreign Countries in the Legal Encyclopedia: Taxation
In this entry about Subpart I – Admissibility of Documentation Maintained In Foreign Countries, find legal reference material, bibliographies and premiere content related to taxation in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxation-specific issues, written by authorities in the field.
Subpart J – Foreign Currency Transactions in the Legal Encyclopedia: Liability
In this entry about Subpart J – Foreign Currency Transactions, find legal reference material, bibliographies and premiere content related to liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States liability-specific issues, written by authorities in the field.
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