Source: http://www.chanrobles.com/usa/uslaws/cfr/title26/26-12.0.1.1.1.0.10.97.php
Timestamp: 2020-01-25 14:07:04
Document Index: 155435609

Matched Legal Cases: ['§ 1', 'ART 1', '§ 1', '§1', '§1', '§1', '§1', '§1', '§1', '§1', '§1', '§1', '§1']

26 C.F.R. § 1.1502-2 Computation of tax liability.
United States> Code of Federal Regulations> Title 26 - Internal Revenue> PART 1--INCOME TAXES> § 1.1502-2 Computation of tax liability.
(a) The tax imposed by section 11 on the consolidated taxable income for such year (see §1.1502–11 for the computation of consolidated taxable income);
(d) If paragraph (b) of this section does not apply, the tax imposed by section 531 on the consolidated accumulated taxable income (see §1.1502–43);
(h) The tax imposed by section 1201, instead of the taxes computed under paragraphs (a) and (g) of this section, computed by reference to the net capital gain of the group (see §1.1502–22) (or, for consolidated return years to which §1.1502–22 does not apply, computed by reference to the excess of the consolidated net long-term capital gain over the consolidated net short-term capital loss (see §1.1502–41A for the determination of the consolidated net long-term capital gain and the consolidated net short-term capital loss));
by allowing as a credit against such taxes the investment credit under section 38 (see §1.1502–3), and the foreign tax credit under section 33 (see §1.1502–4). For purposes of this section, the surtax exemption of the group for a consolidated return year is $25,000, or if a lesser amount is allowed under section 1561, such lesser amount. See §1.1561–2(a)(2). For increase in tax due to the application of section 47, see §1.1502–3(f). For amount of tax surcharge, see section 51 and §1.1502–7.