Source: https://www.law.cornell.edu/uscode/text/26/892
Timestamp: 2019-03-23 15:31:27
Document Index: 742268083

Matched Legal Cases: ['§ 892', '§\u202f892', '§\u202f1247', '§\u202f1012', '§\u202f11704', '§\u202f1012', '§\u202f1012', '§\u202f1012', '§\u202f1247']

26 U.S. Code § 892 - Income of foreign governments and of international organizations | U.S. Code | US Law | LII / Legal Information Institute
Section 892. Income of foreign governments and of international organizations
26 U.S. Code § 892. Income of foreign governments and of international organizations
(1) In generalThe income of foreign governments received from—
(A) investments in the United States in—
stocks, bonds, or other domesticsecurities owned by such foreign governments, or
(A) In generalParagraph (1) shall not apply to any income—
(B) Controlled commercial entityFor purposes of subparagraph (A), the term “controlled commercial entity” means any entity engaged in commercial activities (whether within or outside the United States) if the government—
(Aug. 16, 1954, ch. 736, 68A Stat. 284; Pub. L. 99–514, title XII, § 1247(a), Oct. 22, 1986, 100 Stat. 2583; Pub. L. 100–647, title I, § 1012(t)(1)–(3), Nov. 10, 1988, 102 Stat. 3527; Pub. L. 101–508, title XI, § 11704(a)(35), Nov. 5, 1990, 104 Stat. 1388–519.)
1990—Subsec. (a)(2)(A). Pub. L. 101–508 made clarifying amendment to Pub. L. 100–647, § 1012(t)(1). See 1988 Amendment note below.
1988—Subsec. (a)(2)(A). Pub. L. 100–647, § 1012(t)(1), (2), as amended by Pub. L. 101–508, amended cl. (ii) generally and added cl. (iii). Prior to amendment, cl. (ii) read as follows: “received from or by a controlled commercial entity.”
Subsec. (a)(3). Pub. L. 100–647, § 1012(t)(3), added par. (3).
1986—Pub. L. 99–514 amended section generally. Prior to amendment, section read as follows: “The income of foreign governments or international organizations received from investments in the United States in stocks, bonds, or other domestic securities, owned by such foreign governments or by international organizations, or from interest on deposits in banks in the United States of moneys belonging to such foreign governments or international organizations, or from any other source within the United States, shall not be included in gross income and shall be exempt from taxation under this subtitle.”
Pub. L. 99–514, title XII, § 1247(b), Oct. 22, 1986, 100 Stat. 2584, provided that:
“The amendment made by subsection (a) [amending this section] shall apply to amounts received on or after July 1, 1986, except that no amount shall be required to be deducted and withheld by reason of the amendment made by subsection (a) from any payment made before the date of the enactment of this Act [Oct. 22, 1986].”