Source: https://uscode.house.gov/view.xhtml?req=(title:26%20section:958%20edition:prelim)
Timestamp: 2020-05-28 16:47:39
Document Index: 338690894

Matched Legal Cases: ['§ 958', '§958', '§12', '§4', '§1021', '§1703', '§14213', '§14301', '§14213', '§14213', '§1704', '§1703', '§14213', '§13001']

[USC02] 26 USC 958: Rules for determining stock ownership
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26 USC 958: Rules for determining stock ownership Text contains those laws in effect on May 27, 2020
§958. Rules for determining stock ownership
(a) Direct and indirect ownership
For purposes of this subpart (other than section 960), stock owned means-
For purposes of sections 951(b), 954(d)(3), 956(c)(2), and 957, section 318(a) (relating to constructive ownership of stock) shall apply to the extent that the effect is to treat any United States person as a United States shareholder within the meaning of section 951(b), to treat a person as a related person within the meaning of section 954(d)(3), to treat the stock of a domestic corporation as owned by a United States shareholder of the controlled foreign corporation for purposes of section 956(c)(2), or to treat a foreign corporation as a controlled foreign corporation under section 957, except that-
(3) In applying subparagraph (C) of section 318(a)(2), the phrase "10 percent" shall be substituted for the phrase "50 percent" used in subparagraph (C).
(Added Pub. L. 87–834, §12(a), Oct. 16, 1962, 76 Stat. 1018 ; amended Pub. L. 88–554, §4(b)(5), Aug. 31, 1964, 78 Stat. 763 ; Pub. L. 94–455, title X, §1021(b), Oct. 4, 1976, 90 Stat. 1619 ; Pub. L. 104–188, title I, §§1703(i)(4), 1704(t)(7), Aug. 20, 1996, 110 Stat. 1876 , 1887; Pub. L. 115–97, title I, §§14213(a), 14301(c)(31), Dec. 22, 2017, 131 Stat. 2217 , 2224.)
2017-Subsec. (a)(1). Pub. L. 115–97, §14301(c)(31), substituted "960" for "960(a)(1)" in introductory provisions.
Subsec. (b). Pub. L. 115–97, §14213(a)(2), substituted "Paragraph (1)" for "Paragraphs (1) and (4)" in concluding provisions.
Subsec. (b)(4). Pub. L. 115–97, §14213(a)(1), struck out par. (4) which read as follows: "Subparagraphs (A), (B), and (C) of section 318(a)(3) shall not be applied so as to consider a United States person as owning stock which is owned by a person who is not a United States person."
1996-Subsec. (a)(1). Pub. L. 104–188, §1704(t)(7), substituted "section 960(a)(1)" for "sections 955(b)(1)(A) and (B), 955(c)(2)(A)(ii), and 960(a)(1)" in introductory provisions.
Subsec. (b). Pub. L. 104–188, §1703(i)(4), substituted "956(c)(2)" for "956(b)(2)" wherever appearing in introductory and closing provisions.
1976-Subsec. (b). Pub. L. 94–455 inserted "956(b)(2)" after "purposes of sections 951(b), 954(d)(3),", "to treat the stock of a domestic corporation as owned by a United States shareholder of the controlled foreign corporation for purposes of section 956(b)(2)" after "meaning of section 954(d)(3)" and "Paragraphs (1) and (4) shall not apply for purposes of section 956(b)(2) to treat stock of a domestic corporation as not owned by a United States shareholder" following subpar. (4).
1964-Subsec. (b). Pub. L. 88–554 redesignated pars. (4) and (5) as (3) and (4), respectively, struck out former par. (3) which related to ownership of stock by a partnership, estate, trust, or corporation for purposes of applying first sentence of subpars. (A) and (B), and subpar. (C)(i) of section 318(a)(2) of this title, and made amendments throughout subsec. (b) to conform to changes made in section 318 of this title by Pub. L. 88–554.
Pub. L. 115–97, title I, §14213(b), Dec. 22, 2017, 131 Stat. 2217 , provided that: "The amendments made by this section [amending this section] shall apply to-
"(1) the last taxable year of foreign corporations beginning before January 1, 2018, and each subsequent taxable year of such foreign corporations, and
"(2) taxable years of United States shareholders in which or with which such taxable years of foreign corporations end."
Amendment by section 14301(c)(31) of Pub. L. 115–97 applicable to taxable years of foreign corporations beginning after Dec. 31, 2017, and to taxable years of United States shareholders in which or with which such taxable years of foreign corporations end, see section 14301(d) of Pub. L. 115–97, set out as a note under section 78 of this title.
Amendment by section 1703(i)(4) of Pub. L. 104–188 effective as if included in the provision of the Revenue Reconciliation Act of 1993, Pub. L. 103–66, §§13001–13444, to which such amendment relates, see section 1703(o) of Pub. L. 104–188, set out as a note under section 39 of this title.
Amendment by Pub. L. 94–455 applicable to taxable years of foreign corporations beginning after Dec. 31, 1975, and to taxable years of United States shareholders within which or with which such taxable years of such corporations end, see section 1021(c) of Pub. L. 94–455, set out as a note under section 956 of this title.