Source: https://law.justia.com/codes/us/2016/title-26/subtitle-a/chapter-1/subchapter-n/part-ii/subpart-b/sec.-882/
Timestamp: 2020-02-21 13:56:14
Document Index: 266573209

Matched Legal Cases: ['§ 882', '§882', '§104', '§1906', '§301', '§1122', '§515', '§474', '§701', '§1236', '§1012', '§2001', '§6133', '§221', '§2001', '§701', '§6133', '§1236']

26 U.S.C. 882 (2016) - Tax on income of foreign corporations connected with United States business :: 2016 US Code :: US Codes and Statutes :: US Law :: Justia
Justia › US Law › US Codes and Statutes › US Code › 2016 US Code › Title 26 - Internal Revenue Code › Subtitle A - Income Taxes › Chapter 1 - Normal Taxes and Surtaxes › Subchapter N - Tax Based on Income From Sources Within or Without the United States › Part II - Nonresident Aliens and Foreign Corporations › Subpart B - Foreign Corporations › Sec. 882 - Tax on income of foreign corporations connected with United States business
Sec. 882 - Tax on income of foreign corporations connected with United States business
Citation 26 U.S.C. § 882 (2016)
Section Name §882. Tax on income of foreign corporations connected with United States business
Section Text (a) Imposition of tax (1) In general
A foreign corporation engaged in trade or business within the United States during the taxable year shall be taxable as provided in section 11, 55, or 1201(a) on its taxable income which is effectively connected with the conduct of a trade or business within the United States.
(3) [Cross reference 1]
In the case of a foreign corporation, except where the context clearly indicates otherwise, gross income includes only—
(c) Allowance of deductions and credits (1) Allocation of deductions (A) General rule
(d) Election to treat real property income as income connected with United States business (1) In general
A foreign corporation which during the taxable year derives any income—
In the case of a corporation created or organized in, or under the law of, a possession of the United States which is carrying on the banking business in a possession of the United States, interest on obligations of the United States which is not portfolio interest (as defined in section 881(c)(2)) shall—
(Aug. 16, 1954, ch. 736, 68A Stat. 282; Pub. L. 89–809, title I, §104(b)(1), Nov. 13, 1966, 80 Stat. 1555; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95–600, title III, §301(b)(13), Nov. 6, 1978, 92 Stat. 2822; Pub. L. 96–499, title XI, §1122(c)(2), Dec. 5, 1980, 94 Stat. 2687; Pub. L. 97–424, title V, §515(b)(6)(F), Jan. 6, 1983, 96 Stat. 2182; Pub. L. 98–369, div. A, title IV, §474(r)(19), July 18, 1984, 98 Stat. 843; Pub. L. 99–514, title VII, §701(e)(4)(F), title XII, §1236(a), Oct. 22, 1986, 100 Stat. 2343, 2576; Pub. L. 100–647, title I, §1012(s)(2)(B), title II, §2001(c)(2), title VI, §6133(a), Nov. 10, 1988, 102 Stat. 3527, 3594, 3721; Pub. L. 113–295, div. A, title II, §221(a)(12)(F), Dec. 19, 2014, 128 Stat. 4038.)
2014—Subsec. (a)(1). Pub. L. 113–295 struck out ", 59A" after "section 11, 55".
1988—Subsec. (a)(1). Pub. L. 100–647, §2001(c)(2), inserted reference to section 59A.
1986—Subsec. (a)(1). Pub. L. 99–514, §701(e)(4)(F), inserted reference to section 55.
1984—Subsec. (c)(2). Pub. L. 98–369 substituted reference to section "33" for "32" and "34" for "39".
1983—Subsec. (c)(2). Pub. L. 97–424 struck out "and lubricating oil" after "gasoline".
1980—Subsec. (a)(3). Pub. L. 96–499 added par. (3).
1978—Subsec. (a). Pub. L. 95–600 substituted in subsec. (a) heading "Imposition of tax" for "Normal tax and surtax" and in par. (1) heading "In general" for "Imposition of tax".
1976—Subsecs. (c)(1)(A), (2), (d). Pub. L. 94–455 struck out "or his delegate" after "Secretary".
1966—Pub. L. 89–809 substantially revised the income tax treatment of foreign corporations, introduced the concept of taxable income effectively connected with the conduct of a trade or business within the United States into provisions dealing with the imposition of tax, substituted a concept of gross income that included gross income derived from sources within the United States not effectively connected with the conduct of a trade or business within the United States and gross income effectively connected with the conduct of a trade or business within the United States for a concept of gross income that included only gross income from sources within the United States, and inserted provisions for an election to treat real property income as income connected with United States business, treatment of interest on United States obligations received by banks organized in possessions, and the returns of tax by agents, and inserted cross reference to section 906(b)(1).
Pub. L. 100–647, title VI, §6133(c), Nov. 10, 1988, 102 Stat. 3721, provided that: "The amendments made by this subsection [probably means 'this section', which amended sections 882 and 884 of this title] shall apply to taxable years beginning after December 31, 1988."
Pub. L. 99–514, title XII, §1236(b), Oct. 22, 1986, 100 Stat. 2576, provided that: "The amendment made by subsection (a) [amending this section] shall apply to taxable years beginning after November 16, 1985."
1 Par. (3) heading editorially supplied.
Contains section 882
Statutes at Large References 80 Stat. 1555
92 Stat. 2822
96 Stat. 2182
98 Stat. 843
100 Stat. 2343, 2576
102 Stat. 3527, 3721
Public Law References Public Law 89-809, Public Law 94-455, Public Law 95-600, Public Law 96-499, Public Law 97-424, Public Law 98-369, Public Law 99-499, Public Law 99-514, Public Law 100-647, Public Law 113-295