Source: http://taxtv.com/code/00084-USCODE-2011-title26-subtitleA-chap1-subchapA-partIV-subpartF-sec52/
Timestamp: 2017-06-24 13:57:05
Document Index: 195687434

Matched Legal Cases: ['§52', '§52', '§52', '§202', '§321', '§103', '§5', '§474', '§11813', '§1616', '§1601', '§261', '§474', '§474', '§474', '§474', '§321', '§321', '§52']

IRC §52. Special rules - TaxTV.com
IRC §52. Special rules
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For purposes of this subpart, all employees of all corporations which are members of the same controlled group of corporations shall be treated as employed by a single employer. In any such case, the credit (if any) determined under section (a) with respect to each such member shall be its proportionate share of the wages giving rise to such credit. For purposes of this subsection, the term “controlled group of corporations” has the meaning given to such term by section 1563(a), except that—
(1) “more than 50 percent” shall be substituted for “at least 80 percent” each place it appears in section 1563(a)(1), and
(2) the credit (if any) determined under section (a) with respect to each trade or business shall be its proportionate share of the wages giving rise to such credit.
(1) a regulated investment company or a real estate investment trust subject to taxation under subchapter M (section 8 and following), and
(Added Pub. L. 95–30, title II, §202(b), May 23, 1977, 91 Stat. 143; amended Pub. L. 95–600, title III, §321(c)(1), Nov. 6, 1978, 92 Stat. 2835; Pub. L. 96–222, title I, §103(a)(5), Apr. 1, 1980, 94 Stat. 209; Pub. L. 97–354, §5(a)(11), Oct. 19, 1982, 96 Stat. 1693; Pub. L. 98–369, div. A, title IV, §474(p)(4)–(7), July 18, 1984, 98 Stat. 838; Pub. L. 101–508, title XI, §11813(b)(4), Nov. 5, 1990, 104 Stat. 1388–5 ; Pub. L. 104–188, title I, §1616(b)(2), Aug. 20, 1996, 110 Stat. 1856; Pub. L. 105–34, title XVI, §1601(b), Aug. 5, 1997, 111 Stat. 1087; Pub. L. 112–56, title II, §261(e)(1), Nov. 21, 2011, 125 Stat. 730.)
1997—Subsec. (c). Pub. L. 105–34 substituted “work opportunity credit” for “targeted jobs credit”.
1996—Subsec. (e)(1) to (3). Pub. L. 104–188 redesignated pars. (2) and (3) as (1) and (2), respectively, and struck out former par. (1) which read as follows: “an organization to which section 593 (relating to reserves for losses on loans) applies,”.
1990—Subsec. (e). Pub. L. 101–508 substituted “section 46 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990)” for “section 46” in concluding provisions.
1984—Subsec. (a). Pub. L. 98–369, §474(p)(4), substituted “the credit (if any) determined under section (a) with respect to each such member” for “the credit (if any) allowable by section 44B to each such member”.
Subsec. (b)(2). Pub. L. 98–369, §474(p)(5), substituted “the credit (if any) determined under section (a)” for “the credit (if any) allowable by section 44B”.
Subsec. (c). Pub. L. 98–369, §474(p)(6), substituted “credit shall be allowed under section 38 for any targeted jobs credit determined under this subpart” for “credit shall be allowed under section 44B”.
Subsec. (d)(2). Pub. L. 98–369, §474(p)(7), substituted “, subject to section 38(c), a credit under section 38(a)” for “, subject to section 53 a credit under section 44B”.
1980—Subsec. (f). Pub. L. 96–222 substituted “subsections (e) and (h) of section 46” for “section 46(e)”.
1978—Subsecs. (a), (b). Pub. L. 95–600, §321(c)(1)(B), substituted “proportionate share of the wages” for “proportionate contribution to the increase in unemployment insurance wages”.
Subsec. (e). Pub. L. 95–600, §321(c)(1)(A), (C), redesignated subsec. (g) as (e) and struck out par. (3) which provided that the $100,000 amount specified in section (d) applicable to such estate or trust be reduced to an amount which bears the same ratio to $100,000 as the portion of the credit allocable to the estate or trust under paragraph (1) bears to the entire amount of such credit. Former subsec. (e), which related to a change in status from self-employed to employee, was struck out.
Amendment by Pub. L. 95–600 applicable to amounts paid or incurred after Dec. 31, 1978, in taxable years ending after such date, see section 321(d)(1) of Pub. L. 95–600, set out as a note under section of this title.
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