§ 561. Definition of deduction for dividends paid

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1954

   Aug. 16, 1954, ch. 736, 68A Stat. 198 · 68A Stat. 198

   Enacted · 26 U.S.C. § 561

   Aug. 16, 1954, ch. 736, 68A Stat. 198

   Source evidence

   Code source credit
   Aug. 16, 1954, ch. 736, 68A Stat. 198

2. 1962

   Pub. L. 87–403 § 3(f) · 76 Stat. 4

   1. Amended · 26 U.S.C. § 561(b)

      Pub. L. 87–403 designated existing provisions as par. (1)

   2. Added · 26 U.S.C. § 561(b)

      Pub. L. 87–403 added par. (2)

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 87–403 designated existing provisions as par. (1) and added par. (2).

   Enacted provision · exact public law section
   (f) Subsection (b) of section 561 of the Internal Revenue Code of 68A Stat. 198. 26 USC 561. 1954 (relating to deduction for dividends paid) is amended to read as follows: “(b) Special Rules Applicable.— “(1) In determining the deduction for dividends paid, the rules 26 USC 562. provided in section 562 (relating to rules applicable in determining dividends eligible for dividends paid deduction) and section 563 (relating to dividends paid after the close of the taxable year) shall be applicable. “(2) Ir a corporation received antitrust stock (as defined in Ante, p. 5. 26 USC 301. section 301(f) in a distribution to which section 301 applied and such corporation distributes such stock (or other property the basis of which is determined by reference to the basis of such stock) to its shareholders, proper adjustment shall be made, under regulations prescribed by the Secretary or his delegate, to the amount of the deduction provided for in subsection (a).”

3. 1976

   Pub. L. 94–455 title XIX § 1901(b)(32)(H) · 90 Stat. 1520

   1. Redesignated · 26 U.S.C. § 561(b)

      Pub. L. 94–455 redesignated existing provisions of par. (1) as subsec. (b)

   2. Struck · 26 U.S.C. § 561(b)

      Pub. L. 94–455 struck out par. (2) relating to special adjustment on disposition of antitrust stock as a dividend

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 94–455 redesignated existing provisions of par. (1) as subsec. (b) and struck out par. (2) relating to special adjustment on disposition of antitrust stock as a dividend.

   Enacted provision · exact public law section
   (H) Section 561(b) is amended to read as follows: “(b) Special Rules Applicable.— In determining the deduction for dividends paid, the rules provided in section 562 (relating to rules applicable in determining dividends eligible for dividends paid deduction) and section 563 (relating to dividends paid after the close of the taxable year) shall be applicable.”

   Effective date note
   Amendment by Pub. L. 94–455 applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as a note under section 2 of this title.

4 of 5 references resolved to an enrolled provision · 1 partial