26-U.S.C.-1562

[§1562 – Repealed. Pub. L. 91-172, Title Iv, §401(A)(2), Dec. 30, 1969, 83 Stat. 600]

Pathway

Title 26 > Subtitle A > Chapter 6 > Subchapter B > Part II > Section 1562

Details

• Reference: Section 1562
• Legend: [§1562 – Repealed. Pub. L. 91-172, Title Iv, §401(A)(2), Dec. 30, 1969, 83 Stat. 600]
• USCode Year: 2013

Provision Content

Section, added Pub. L. 88–272, title II, §235(a), Feb. 26, 1964, 78 Stat. 117, amended Pub. L. 91–172, title IV, §401(b)(2)(A), Dec. 30, 1969, 83 Stat. 602, set limits on the privilege of groups to elect multiple surtax exemptions.

Effective Date of Repeal

Repeal applicable with respect to taxable years beginning after Dec. 31, 1974, see section 401(h)(1) of Pub. L. 91–172, set out as an Effective Date of 1969 Amendment note under section 1561 of this title.

Retroactive Termination of Elections

Pub. L. 91–172, title IV, §401(g), Dec. 30, 1969, 83 Stat. 604, authorized an affiliated group of corporations making a consolidated return for the taxable year which included Dec. 31, 1970, to terminate the election under section 1562 of this title with respect to any prior Dec. 31 which was included in a taxable year of any such corporations from which there was a net operating loss carryover to the 1970 consolidated return year and provided that the termination of such election was to be valid only if in accord with subsecs. (c)(1) and (e) of section 1562 of this title other than the requirement of making the termination prior to the expiration of the 3 year period specified in subsec. (e) of section 1562 of this title.

U.S. Encyclopedia of Law Coverage

Chapter 4 – Taxes To Enforce Reporting On Certain Foreign Accounts in the Legal Encyclopedia: Income Taxes

In this entry about Chapter 4 – Taxes To Enforce Reporting On Certain Foreign Accounts, 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.

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