Source: http://taxtv.com/code/00896-uscode-2011-title26-subtitlea-chap6-subchapb-parti-sec1551/
Timestamp: 2017-03-27 20:23:03
Document Index: 233200241

Matched Legal Cases: ['§15', '§15', '§15', '§205', '§235', '§304', '§1901', '§301', '§232', '§1899', '§301', '§301', '§1901', '§15']

IRC §15 . Disallowance of the benefits of the graduated corporate rates and accumulated earnings credit - TaxTV.com
IRC §15 . Disallowance of the benefits of the graduated corporate rates and accumulated earnings credit
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(1) any corporation transfers, on or after January 1, 19 , and on or before June 12, 1963, all or part of its property (other than money) to a transferee corporation,
(2) any corporation transfers, directly or indirectly, after June 12, 1963, all or part of its property (other than money) to a transferee corporation, or
(3) five or fewer individuals who are in control of a corporation transfer, directly or indirectly, after June 12, 1963, property (other than money) to a transferee corporation,
For purposes of subsection (a), the term “control” means—
(1) With respect to a transferee corporation described in subsection (a)(1) or (2), the ownership by the transferor corporation, its shareholders, or both, of stock possessing at least 80 percent of the total combined voting power of all classes of stock entitled to vote or at least 80 percent of the total value of shares of all classes of the stock; or
(2) With respect to each corporation described in subsection (a)(3), the ownership by the five or fewer individuals described in such subsection of stock possessing—
(B) more than 50 percent of the total combined voting power of all classes of stock entitled to vote or more than 50 percent of the total value of shares of all classes of stock of each corporation, taking into account the stock ownership of each such individual only to the extent such stock ownership is identical with respect to each such corporation.
(Aug. 16, 1954, ch. 736, 68A Stat. 371; Pub. L. 85–866, title II, §205(a), Sept. 2, 1958, 72 Stat. 1680; Pub. L. 88–272, title II, §235(b), Feb. 26, 1964, 78 Stat. 125; Pub. L. 94–12, title III, §304(b), Mar. 29, 1975, 89 Stat. 45; Pub. L. 94–455, title XIX, §§1901(a)(158), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1790, 1834; Pub. L. 95–600, title III, §301(b)(18)(A), (B), Nov. 6, 1978, 92 Stat. 2823; Pub. L. 97–34, title II, §232(b)(2), Aug. 13, 1981, 95 Stat. 250; Pub. L. 99– 4, title XVIII, §1899A(36), Oct. 22, 1986, 100 Stat. 2960.)
1986—Subsec. (c). Pub. L. 99– 4 substituted “section 269(c)” for “section 269(b)”.
1978—Pub. L. 95–600, §301(b)(18)(B), substituted “the benefits of the graduated corporate rates” for “surtax exemption” in section catchline.
Subsec. (a). Pub. L. 95–600, §301(b)(18)(A), in provisions following par. (3) substituted “disallow the benefits of the rates contained in section 11(b) which are lower than the highest rate specified in such section” for “disallow the surtax exemption (as defined in section 11(d))” and “such benefits or” for “such exemption or”.
1976—Subsec. (a). Pub. L. 94–455 §§1901(a)(158), 1906(b)(13)(A), substituted “subsection (c)” for “subsection (d)” after “determined under” and struck out “or his delegate” after “Secretary”.
Section 235(d) of Pub. L. 88–272 provided that: “The amendments made by subsections (a) and (c) [enacting sections 1561 to 1563 of this title and amending sections 269, 441, and 802 of this title] shall apply with respect to taxable years ending after December 31, 1963. The amendment made by subsection (b) [amending this section] shall apply with respect to transfers made after June 12, 1963.”
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