Source: https://www.law.cornell.edu/cfr/text/26/4.954-0?qt-cfr_tabs=1
Timestamp: 2016-02-10 09:36:25
Document Index: 561590987

Matched Legal Cases: ['§ 4', '§ 1', '§ 1', '§ 4', '§ 4', '§ 4', '§ 4', '§ 1', '§ 1']

26 CFR 4.954-0 - Introduction. | US Law | LII / Legal Information Institute
The provisions of§§ 4.954-1 and 4.954-2 apply to taxable years of a controlled foreign corporation beginning after December 31, 1986. Consequently, any gain or loss (including foreign currency gain or loss as defined in section 988(b)) recognized during such taxable years of a controlled foreign corporation is subject to these provisions. For further guidance, see § 1.954-0(a) of this chapter.
The provisions of§§ 1.954A-1 and 1.954A-2 apply to taxable years of a controlled foreign corporation beginning before January 1, 1987. All references therein to sections of the Code are to the Internal Revenue Code of 1954 prior to the amendments made by the Tax Reform Act of 1986.
§ 4.954-0 Introduction.
§ 4.954-1 Foreign base company income.
Definition of gross foreign base company income.
Definition of adjusted gross foreign base company income.
Definition of net foreign base company income.
Definition of adjusted net foreign base company income.
Additional items of adjusted net foreign base company income or adjusted net insurance income by reason ofsection 952(c).
Computation of adjusted gross foreign base company income and adjusted gross insurance income.
De minimus rule and full inclusion rule.
Five percent de minimus test.
Character of items of adjusted gross foreign base company income.
Coordination withsection 952(c).
Definition of related person.
Computation of adjusted net foreign base company income or adjusted net insurance income.
Taxes paid or accrued with respect to an item of income.
Income other than foreign personal holding company income.
Definition of an item of income.
Character of an item of income.
§ 4.954-2 Foreign Personal Holding Company Income.
Computation of foreign personal holding company income.
Changes in use or purpose with which property is held.
Exclusion of certain export financing.
Exclusion of dividends and interest from related persons.
Location of tangible property used in a trade or business.
Location of intangible property used in a trade or business.
Location of property held for sale to customers.
Treatment of banks and insurance companies [Reserved]
Exclusion of rents and royalties derived from related persons.
Excluded rents.
Definition of active leasing expense.
Adjusted leasing profits.
Excluded royalties.
Definition of active licensing expense.
Definition of adjusted licensing profit.
Certain property transactions.
Inclusion of FPHC income.
Property that gives rise to certain income.
Classification of gain or loss from the disposition of a debt instrument or on a deferred payment sale.
Classification of certain interests in pass-through entities.
Definition of the term “qualified active sales”.
Definition of the term “substantially all.”
Definition of the term “qualified hedging transaction”.
Foreign currency gain.
Definition of the term “qualified business transaction”.
Specificsection 988 transactions attributable to the sale of goods or services.
Entering into forward contracts, futures contracts, options, and similar instruments.
Income equivalent to interest.
Income equivalent to interest from factoring.
(1) The provisions of §§ 4.954-1 and 4.954-2 apply to taxable years of a controlled foreign corporation beginning after December 31, 1986. Consequently, any gain or loss (including foreign currency gain or loss as defined in section 988(b)) recognized during such taxable years of a controlled foreign corporation is subject to these provisions. For further guidance, see § 1.954-0(a) of this chapter.
(2) The provisions of §§ 1.954A-1 and 1.954A-2 apply to taxable years of a controlled foreign corporation beginning before January 1, 1987. All references therein to sections of the Code are to the Internal Revenue Code of 1954 prior to the amendments made by the Tax Reform Act of 1986.