26 USC 1373 - Sec. 1373. Foreign income
26 USC - US Code - Title 26: Internal Revenue Code (January 2002)
Permanent Link:
http://vlex.com/vid/sec-foreign-income-19208572
Id. vLex: VLEX-19208572
Click here to download this article in graphic format (Acrobat Reader)
Document language
Search in this document
Document options
(a) S corporation treated as partnership, etc. For purposes of subparts A and F of part III, and part V, of subchapter N (relating to income from sources without the United States) - (1) an S corporation shall be treated as a partnership, and (2) the shareholders of such corporation shall be treated as partners of such partnership. (b) Recapture of overall foreign loss For purposes of section 904(f) (relating to recapture of overall foreign loss), the making or termination of an election to be treated as an S corporation shall be treated as a disposition of the business.
Prior Provisions
A prior section 1373, added Pub. L. 85-866, title I, Sec. 64(a), Sept. 2, 1958, 72 Stat. 1652; amended Pub. L. 89-389, Sec. 2(b)(3), Apr. 14, 1966, 80 Stat. 114; Pub. L. 91-172, title III, Sec. 301(b)(10), Dec. 30, 1969, 83 Stat. 586, related to taxation of corporation undistributed taxable income to shareholders, prior to the general revision of this subchapter by section 2 of Pub. L. 97-354. EFFECTIVE DATE Section applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Pub. L. 97-354, set out as a note under section 1361 of this title.
Try vLex for FREE for 3 days
Access legal information from United States including:
- Constitutions
- Forms and Contracts
- Legal Books and Journals
- Case Law
- News and Business
- Regulations
- U.S. Code
Try vLex without any commitment for 3 days and see why you need it.
3
days of Free Access
