Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_279
Timestamp: 2020-01-18 22:45:47
Document Index: 138431320

Matched Legal Cases: ['§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279', '§ 279']

Internal Revenue Code, § 279. Interest On Indebtedness Incurred By Corporation To Acquire Stock Or Assets Of Another Corporation
I.R.C. § 279(a) General Rule —
I.R.C. § 279(a)(1) —
I.R.C. § 279(a)(2) —
the amount of interest paid or incurred by such corporation during such year on obligations (A) issued to provide consideration for an acquisition described in paragraph (1) of subsection (b), but (B) which are not corporate acquisition indebtedness.
I.R.C. § 279(b) Corporate Acquisition Indebtedness —
For purposes of this section, the term “corporate acquisition indebtedness” means any obligation evidenced by a bond, debenture, note, or certificate or other evidence of indebtedness issued by a corporation (hereinafter in this section referred to as “issuing corporation”) if—
I.R.C. § 279(b)(1) —
I.R.C. § 279(b)(1)(A) —
I.R.C. § 279(b)(1)(B) —
I.R.C. § 279(b)(2) —
I.R.C. § 279(b)(2)(A) —
I.R.C. § 279(b)(2)(B) —
I.R.C. § 279(b)(3) —
I.R.C. § 279(b)(3)(A) —
I.R.C. § 279(b)(3)(B) —
I.R.C. § 279(b)(4) —
I.R.C. § 279(b)(4)(A) —
I.R.C. § 279(b)(4)(B) —
I.R.C. § 279(c) Rules For Application Of Subsection (b)(4) —
I.R.C. § 279(c)(1) Time Of Determination —
I.R.C. § 279(c)(2) Ratio Of Debt To Equity —
The term “ratio of debt to equity” means the ratio which the total indebtedness of the issuing corporation bears to the sum of its money and all its other assets (in an amount equal to their adjusted basis for determining gain) less such total indebtedness.
I.R.C. § 279(c)(3) Projected Earnings
I.R.C. § 279(c)(3)(A) —
I.R.C. § 279(c)(3)(A)(i) —
I.R.C. § 279(c)(3)(A)(ii) —
I.R.C. § 279(c)(3)(B) —
I.R.C. § 279(c)(3)(B)(i) —
I.R.C. § 279(c)(3)(B)(ii) —
I.R.C. § 279(c)(3)(B)(iii) —
I.R.C. § 279(c)(3)(B)(iv) —
I.R.C. § 279(c)(4) Annual Interest To Be Paid Or Incurred —
The term “annual interest to be paid or incurred” means—
I.R.C. § 279(c)(4)(A) —
I.R.C. § 279(c)(4)(B) —
I.R.C. § 279(c)(5) Special Rules For Banks And Lending Or Finance Companies —
I.R.C. § 279(c)(5)(A) —
I.R.C. § 279(c)(5)(B) —
I.R.C. § 279(c)(5)(C) —
I.R.C. § 279(d) Taxable Years To Which Applicable —
I.R.C. § 279(d)(1) First Year Of Disallowance —
I.R.C. § 279(d)(2) General Rule For Succeeding Years —
I.R.C. § 279(d)(3) Redetermination Where Control, Etc., Is Acquired —
I.R.C. § 279(d)(4) Special 3-Year Rule —
I.R.C. § 279(d)(5) 5 Percent Stock Rule —
I.R.C. § 279(e) Certain Nontaxable Transactions —
I.R.C. § 279(f) Exemption For Certain Acquisitions Of Foreign Corporations —
For purposes of this section, the term “corporate acquisition indebtedness” does not include any indebtedness issued to any person to provide consideration for the acquisition of stock in, or assets of, any foreign corporation substantially all of the income of which, for the 3-year period ending with the date of such acquisition or for such part of such period as the foreign corporation was in existence, is from sources without the United States.
I.R.C. § 279(g) Affiliated Groups —
In any case in which the issuing corporation is a member of an affiliated group, the application of this section shall be determined, pursuant to regulations prescribed by the Secretary, by treating all of the members of the affiliated group in the aggregate as the issuing corporation, except that the ratio of debt to equity of, projected earnings of, and annual interest to be paid or incurred by any corporation (other than the issuing corporation determined without regard to this subsection) shall be included in the determinations required under subparagraphs (A) and (B) of subsection (b)(4) as of any day only if such corporation is a member of the affiliated group on such day, and, in determining projected earnings of such corporation under subsection (c)(3), there shall be taken into account only the earnings and profits of such corporation for the period during which it was a member of the affiliated group. For purposes of the preceding sentence, the term “affiliated group” has the meaning assigned to such term by section 1504(a), except that all corporations other than the acquired corporation shall be treated as includible corporations (without any exclusion under section 1504(b)) and the acquired corporation shall not be treated as an includible corporation.
I.R.C. § 279(h) Changes In Obligation —
I.R.C. § 279(h)(1) —
I.R.C. § 279(h)(2) —
I.R.C. § 279(i) Effect On Other Provisions —
(Added by Pub. L. 91-172, title IV, 411(a), Dec. 30, 1969, 83 Stat. 604, and amended by Pub. L. 94-455, title XIX, 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 94-514, 1(a), Oct. 15, 1976, 90 Stat. 2443; Pub. L. 113-295, Div. A, title II, Sec. 221(a)(47), Dec. 19 2014, 128 Stat. 4010.)
2014—Subsec. (a)(2). Pub. L. 113-295, Div. A, Sec. 221(a)(47)(A)(i), amended par. (2) by striking “after December 31, 1967,”.
Subsec. (b). Pub. L. 113-295, Div. A, Sec. 221(a)(47)(A)(ii), amended subsec. (b) by striking “after October 9, 1969,”.
Subsec. (d)(5). Pub. L. 113-295, Div. A, Sec. 221(a)(47)(A)(iii), amended par. (5) by striking “after October 9, 1969, and”.
Subsec. (i)-(j). Pub. L. 113-295, Div. A, Sec. 221(a)(47)(A)(iv), struck subsec. (i) and redesignated subsec. (j). Before being struck, subsec. (i) read as follows:
“(i) Certain Obligations Issued After October 9, 1969.—For purposes of this section, an obligation shall not be corporate acquisition indebtedness if issued after October 9, 1969, to provide consideration for the acquisition of—
“(1) stock or assets pursuant to a binding written contract which was in effect on October 9, 1969, and at all times thereafter before such acquisition, or
“(2) stock in any corporation where the issuing corporation, on October 9, 1969, and at all times thereafter before such acquisition, owned at least 50 percent of the total combined voting power of all classes of stock entitled to vote of the acquired corporation.”
1976--Subsecs. (c)(3)(B), (g). Pub. L. 94-455 struck out “or his delegate” after “Secretary”.
Subsec. (i). Pub. L. 94-514 struck out provisions that par. (2) would cease to apply when (at any time on or after October 9, 1969) the issuing corporation has acquired control (as defined in section 368(c)) of the acquired corporation.
Amendments by Pub. L. 113-295, Div. A, Sec. 221(a), effective on the date of the enactment of this Act [Enacted: Dec. 19, 2014]. Pub. L. 113-295, Div. A, Sec. 221(a)(47)(B), provided that:
“(B) The amendments made by this paragraph shall not—
“(i) apply to obligations issued on or before October 9, 1969 (determined in the same manner as under section 279 of the Internal Revenue Code of 1986 as in effect before such amendments), and
“(ii) be construed to require interest on obligations issued on or before December 31, 1967, to be taken into account under section 279(a)(2) of such Code (as in effect after such amendments).”
Section 1(b) of Pub. L. 94-514 provided that: “The amendment made by subsection (a) [amending this section] shall apply to taxable years ending after October 9, 1969. If refund or credit of any overpayment of income tax resulting from the amendment made by subsection (a) [amending this section] is prevented on the date of the enactment of this Act [Oct. 15, 1976], or at any time within one year after such date, by the operation of any law or rule of law, refund or credit of such overpayment may, nevertheless, be made or allowed if claim therefor is filed within one year from such date.”
Section 411(c) of Pub. L. 91-172 provided that: “The amendments made by this section [enacting this section] shall apply to the determination of the allowability of the deduction of interest paid or incurred with respect to indebtedness incurred after October 9, 1969.”
[280. Repealed. Pub. L. 99-514, title VIII, 803(b)(2)(A), Oct. 22, 1986, 100 Stat. 2355]
Section, added Pub. L. 94-455, title II, 210(a), Oct. 4, 1976, 90 Stat. 1544, and amended Pub. L. 95-600, title VII, 701(m)(2), Nov. 6, 1978, 92 Stat. 2907; Pub. L. 97-354, 5(a)(25), Oct. 19, 1982, 96 Stat. 1694, related to certain expenditures incurred in the production of films, books, records, or similar property.