Source: http://taxtv.com/code/00147-USCODE-2011-title26-subtitleA-chap1-subchapB-partIII-sec118/
Timestamp: 2017-06-27 17:14:10
Document Index: 505483147

Matched Legal Cases: ['§118', '§118', '§118', '§2120', '§364', '§2', '§163', '§824', '§1613', '§1613', '§824', '§824', '§364', '§364', '§364', '§364', '§1008', '§2', '§118']

IRC §118. Contributions to the capital of a corporation - TaxTV.com
IRC §118. Contributions to the capital of a corporation
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(C) such amount (or any property acquired or constructed with such amount) is not included in the taxpayer’s rate base for ratemaking purposes.
The term “contribution in aid of construction” shall be defined by regulations prescribed by the Secretary, except that such term shall not include amounts paid as service charges for starting or stopping services.
The term “predominantly” means 80 percent or more.
The term “regulated public utility” has the meaning given such term by section 7701(a)(33), except that such term shall not include any utility which is not required to provide water or sewerage disposal services to members of the general public in its service area.
(B) the taxpayer’s intention not to make the expenditures referred to in such subparagraph, or
(Aug. 16, 1954, ch. 736, 68A Stat. 39; Pub. L. 94–455, title XXI, §2120(a), Oct. 4, 1976, 90 Stat. 1912; Pub. L. 95–600, title III, §364(a), Nov. 6, 1978, 92 Stat. 2854; Pub. L. 96–589, §2(e)(2), Dec. 24, 1980, 94 Stat. 3396; Pub. L. 98–369, div. A, title I, §163(a), July 18, 1984, 98 Stat. 697; Pub. L. 99– 4, title VIII, §824(a), Oct. 22, 1986, 100 Stat. 2374; Pub. L. 104–188, title I, §1613(a)(1), (2), Aug. 20, 1996, 110 Stat. 1848–1850.)
1996—Subsec. (b). Pub. L. 104–188, §1613(a)(2), inserted “except as provided in subsection (c),” before “the term”.
1986—Subsec. (b). Pub. L. 99– 4, §824(a), added subsec. (b) and struck out former subsec. (b) relating to contributions in aid of construction, containing par. (1) general rule, par. (2) expenditure rule, par. (3) definitions, and par. (4) disallowance of deductions and investment credit; adjusted basis.
Subsecs. (c), (d). Pub. L. 99– 4, §824(a), redesignated former subsec. (d) as (c) and struck out former subsec. (c), statute of limitations, which read as follows: “If the taxpayer for any taxable year treats an amount as a contribution to the capital of the taxpayer described in subsection (b), then—
1978—Subsec. (b)(1). Pub. L. 95–600, §364(a)(1), (2), substituted in provisions preceding subpar. (A) “electric energy, gas (through a local distribution system or transportation by pipeline), water,” for “water” and in subpar. (B) “electric energy, gas, steam, water,” for “water”.
Subsec. (b)(2)(A)(ii). Pub. L. 95–600, §364(a)(3), substituted “electric energy, gas, steam, water,” for “water”.
Subsec. (b)(3)(A). Pub. L. 95–600, §364(a)(4), substituted “line to an electric line, a gas main, a steam line, or a main water or sewer line” for “property to a main water or sewer line”.
Subsec. (b)(3)(C). Pub. L. 95–600, §364(a)(5), substituted “electric energy, gas, water,” for “water” and inserted “(including in the case of a gas transmission utility, the provision of gas services by sale for resale to the general public)” after “members of the general public”.
Section 1613(a)(3) of Pub. L. 104–188 provided that: “The amendments made by this subsection [amending this section] shall apply to amounts received after June 12, 1996.”
Section 824(c) of Pub. L. 99– 4, as amended by Pub. L. 100–647, title I, §1008(j)(2), Nov. 10, 1988, 102 Stat. 3445, provided that:
Section 163(c) of Pub. L. 98–369, as amended by Pub. L. 99– 4, §2, Oct. 22, 1986, 100 Stat. 2095, provided that: “The amendments made by this section [amending this section and sections 6501 and 6 1 of this title] shall apply to expenditures with respect to which the second taxable year described in section 118(b)(2)(B) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] ends after December 31, 1984.”
Section 364(b) of Pub. L. 95–600 provided that: “The amendments made by this section [amending this section] shall apply to contributions made after January 31, 1976.”
Section 2120(c) of Pub. L. 94–455 provided that: “The amendments made by this section [amending this section and section 362 of this title] apply to contributions made after January 31, 1976.”
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