Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section263&num=0&edition=prelim
Timestamp: 2019-10-16 13:03:22
Document Index: 504030524

Matched Legal Cases: ['§ 263', '§11801', '§201', '§6', '§21', '§4', '§4', '§706', '§109', '§1701', '§1904', '§2122', '§402', '§251', '§201', '§502', '§204', '§105', '§306', '§56', '§402', '§701', '§1808', '§1007', '§11801', '§1604', '§408', '§338', '§1323', '§404', '§221', '§401', '§401', '§401', '§221', '§221', '§1323', '§11801', '§11815', '§402', '§701', '§411', '§102', '§105', '§306', '§204', '§202', '§2122', '§1904', '§1904', '§109', '§4', '§1604', '§411', '§105', '§402', '§2', '§1904', '§9', '§109', '§706', '§4', '§4', '§21', '§1', '§1']

[USC02] 26 USC 263: Capital expenditures
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26 USC 263: Capital expenditures Text contains those laws in effect on October 15, 2019
(F) expenditures for tertiary injectants with respect to which a deduction is allowed under section 193,
(G) expenditures for which a deduction is allowed under section 179,
(H) expenditures for which a deduction is allowed under section 179B,
(I) expenditures for which a deduction is allowed under section 179C,
(J) expenditures for which a deduction is allowed under section 179D, or
(K) expenditures for which a deduction is allowed under section 179E.
[(b) Repealed. Pub. L. 101–508, title XI, §11801(a)(16), Nov. 5, 1990, 104 Stat. 1388–520 ]
[(e) Repealed. Pub. L. 97–34, title II, §201(c), Aug. 13, 1981, 95 Stat. 219 ]
For purposes of paragraph (1), the term "interest and carrying charges" means the excess of-
(iii) the excess of any dividends includible in gross income with respect to such property for the taxable year over the amount of any deduction allowable with respect to such dividends under section 243 or 245, and
For purposes of subparagraph (A), the term "interest" includes any amount paid or incurred in connection with personal property used in a short sale.
If the payment described in paragraph (1)(A) is in respect of an extraordinary dividend, paragraph (1)(B) shall be applied by substituting "the day 1 year after the date of such short sale" for "the 45th day after the date of such short sale".
For purposes of this subsection, the term "extraordinary dividend" has the meaning given to such term by section 1059(c); except that such section shall be applied by treating the amount realized by the taxpayer in the short sale as his adjusted basis in the stock.
The running of any period of time applicable under paragraph (1)(B) (as modified by paragraph (2)) shall be suspended during any period in which-
Paragraph (1) shall apply only to the extent that the payments or distributions with respect to any short sale exceed the amount which-
In the case of intangible drilling and development costs paid or incurred with respect to an oil, gas, or geothermal well located outside the United States-
(2) such costs shall-
(Aug. 16, 1954, ch. 736, 68A Stat. 77 ; Pub. L. 86–779, §6(c), Sept. 14, 1960, 74 Stat. 1001 ; Pub. L. 87–834, §21(b), Oct. 16, 1962, 76 Stat. 1064 ; Pub. L. 88–563, §4, Sept. 2, 1964, 78 Stat. 845 ; Pub. L. 89–243, §4(p)(1), (2), Oct. 9, 1965, 79 Stat. 964 ; Pub. L. 91–172, title VII, §706(a), Dec. 30, 1969, 83 Stat. 674 ; Pub. L. 92–178, title I, §109(b), (c), Dec. 10, 1971, 85 Stat. 509 ; Pub. L. 94–455, title XVII, §1701(a), title XIX, §§1904(b)(10)(A)(i), 1906(b)(13)(A), title XXI, §2122(b)(2), Oct. 4, 1976, 90 Stat. 1759 , 1817, 1834, 1915; Pub. L. 95–618, title IV, §402(a), Nov. 9, 1978, 92 Stat. 3201 ; Pub. L. 96–223, title II, §251(a)(2)(B), Apr. 2, 1980, 94 Stat. 287 ; Pub. L. 97–34, title II, §§201(c), 202(d)(1), title V, §502, Aug. 13, 1981, 95 Stat. 219 , 221, 327; Pub. L. 97–248, title II, §204(c)(1), Sept. 3, 1982, 96 Stat. 426 ; Pub. L. 97–448, title I, §105(b)(1), title III, §306(a)(9)(A), Jan. 12, 1983, 96 Stat. 2385 , 2403; Pub. L. 98–369, div. A, title I, §§56(a), 102(e)(7), (8), July 18, 1984, 98 Stat. 573 , 624, 625; Pub. L. 99–514, title IV, §§402(b)(1), 411(b)(1), title VII, §701(e)(4)(D), title XVIII, §1808(b), Oct. 22, 1986, 100 Stat. 2221 , 2225, 2343, 2817; Pub. L. 100–647, title I, §1007(g)(5), Nov. 10, 1988, 102 Stat. 3435 ; Pub. L. 101–508, title XI, §§11801(a)(16), 11815(b)(3), Nov. 5, 1990, 104 Stat. 1388–520 , 1388-558; Pub. L. 105–34, title XVI, §1604(a)(1), Aug. 5, 1997, 111 Stat. 1097 ; Pub. L. 108–311, title IV, §408(a)(10), Oct. 4, 2004, 118 Stat. 1191 ; Pub. L. 108–357, title III, §338(b)(1), Oct. 22, 2004, 118 Stat. 1481 ; Pub. L. 109–58, title XIII, §§1323(b)(2), 1331(b)(4), Aug. 8, 2005, 119 Stat. 1015 , 1024; Pub. L. 109–432, div. A, title IV, §404(b)(1), Dec. 20, 2006, 120 Stat. 2956 ; Pub. L. 113–295, div. A, title II, §221(a)(34)(D), (41)(G), Dec. 19, 2014, 128 Stat. 4042 , 4044; Pub. L. 115–141, div. U, title IV, §401(a)(60), (61), Mar. 23, 2018, 132 Stat. 1187 .)
2018-Subsec. (a)(1)(F), (G). Pub. L. 115–141, §401(a)(60), substituted comma for semicolon at end.
Subsec. (a)(1)(H) to (L). Pub. L. 115–141, §401(a)(61), redesignated subpars. (I) to (L) as (H) to (K), respectively.
2014-Subsec. (a)(1)(H). Pub. L. 113–295, §221(a)(34)(D), struck out subpar. (H) which read as follows: "expenditures for which a deduction is allowed under section 179A,".
Subsec. (g)(2)(B)(iii). Pub. L. 113–295, §221(a)(41)(G), struck out ", 244," after "section 243".
2006-Subsec. (a)(1)(L). Pub. L. 109–432 added subpar. (L).
2005-Subsec. (a)(1)(J). Pub. L. 109–58, §1323(b)(2), added subpar. (J).
2004-Subsec. (a)(1)(I). Pub. L. 108–357 added subpar. (I).
Subsec. (g)(2)(B)(ii). Pub. L. 108–311 substituted "1276" for "1278".
1997-Subsec. (a)(1)(H). Pub. L. 105–34 added subpar. (H).
1990-Subsec. (b). Pub. L. 101–508, §11801(a)(16), struck out subsec. (b) "Expenditures for advertising and good will" which read as follows: "If a corporation has, for the purpose of computing its excess profits tax credit under chapter 2E or subchapter D of chapter 1 of the Internal Revenue Code of 1939 claimed the benefits of the election provided in section 733 or section 451 of such code, as the case may be, no deduction shall be allowable under section 162 to such corporation for expenditures for advertising or the promotion of good will which, under the rules and regulations prescribed under section 733 or section 451 of such code, as the case may be, may be regarded as capital investments."
Subsec. (c). Pub. L. 101–508, §11815(b)(3), substituted "section 613(e)(2)" for "section 613(e)(3)".
1988-Subsec. (c). Pub. L. 100–647 substituted "section 59(e)" for "section 59(d)".
1986-Subsec. (a)(1)(E) to (H). Pub. L. 99–514, §402(b)(1), struck out subpar. (E) relating to nonapplication of par. (1) to expenditures by farmers for clearing land deductible under section 182, and redesignated subpars. (F) to (H) as (E) to (G), respectively.
Subsec. (c). Pub. L. 99–514, §701(e)(4)(D), substituted "59(d)" for "58(i)".
Pub. L. 99–514, §411(b)(1)(B), inserted "and except as provided in subsection (i),".
1984-Subsec. (g)(2). Pub. L. 98–369, §102(e)(7), amended par. (2) generally, striking out "charges for temporary use of the personal property in a short sale, or" after "(including" in subpar. (A)(ii), substituting "any amount treated as ordinary income under section 1271(a)(3)(A), 1278, or 1281(a) with respect to such property for the taxable year, and" for "any amount treated as ordinary income under section 1232(a)(3)(A) with respect to such property for the taxable year" in subpar. (B)(ii), and adding subpar. (B)(iii).
1983-Subsec. (g)(2)(A)(ii). Pub. L. 97–448, §105(b)(1), substituted "all other amounts (including charges for temporary use of the personal property in a short sale, or to insure, store, or transport the personal property) paid or incurred to carry the personal property, over" for "amounts paid or incurred to insure, store, or transport the personal property, over".
Subsec. (g)(2)(B)(ii). Pub. L. 97–448, §306(a)(9)(A), substituted "section 1232(a)(3)(A)" for "section 1232(a)(4)(A)".
1982-Subsec. (c). Pub. L. 97–248, §204(c)(1), inserted provision that this subsection not apply with respect to any costs to which any deduction is allowed under section 58(i) or 291.
1981-Subsec. (a)(1)(H). Pub. L. 97–34, §202(d)(1), added subpar. (H).
1980-Subsec. (a)(1)(G). Pub. L. 96–223 added subpar. (G).
1978-Subsec. (c). Pub. L. 95–618 inserted "and geothermal wells" after "gas wells" in heading and in text inserted provision that such regulations also grant the option to deduct as expenses intangible drilling and development costs in the case of wells drilled for any geothermal deposit (as defined in section 613(e)(3)) to the same extent and in the same manner as such expenses are deductible in the case of oil and gas wells.
1976-Subsec. (a)(1)(F). Pub. L. 94–455, §2122(b)(2), added subpar. (F).
Subsec. (d). Pub. L. 94–455, §§1904(b)(10)(A)(i)(I), (II), 1906(b)(13)(A), redesignated subsec. (e) as (d) and struck out "or his delegate" after "Secretary" and substituted "subsection (e)" for "subsection (f)". Former subsec. (d) was struck out.
Subsec. (e). Pub. L. 94–455, §§1904(b)(10)(A)(i)(I), 1906(b)(13)(A), redesignated subsec. (f) as (e) and struck out "or his delegate" after "Secretary". Former subsec. (e) redesignated (d).
1971-Subsec. (e). Pub. L. 92–178, §109(c), substituted "shall, at the election of the taxpayer, be treated" for "shall be treated" and inserted provisions respecting making of election under this subsection for any taxable year at such time and in such manner as Secretary or his delegate prescribed by regulation and prohibiting making of election for any taxable year to which an election under subsec. (f) applies to railroad rolling stock (other than locomotives).
1965-Subsec. (a)(3). Pub. L. 89–243, §4(p)(1), inserted "Except as provided in subsection (d)", and struck out "except to the extent that any amount attributable to the amount paid as tax is included in gross income for the taxable year" after parenthetical provision.
1964-Subsec. (a)(3). Pub. L. 88–563 added par. (3).
1962-Subsec. (a)(1)(E). Pub. L. 87–834 added subpar. (E).
1960-Subsec. (a)(1)(D). Pub. L. 86–779 added subpar. (D).
Pub. L. 105–34, title XVI, §1604(a)(4), Aug. 5, 1997, 111 Stat. 1097 , provided that: "The amendments made by this subsection [amending this section and sections 312 and 1245 of this title] shall take effect as if included in the amendments made by section 1913 of the Energy Policy Act of 1992 [Pub. L. 102–486]."
Pub. L. 99–514, title IV, §411(c), Oct. 22, 1986, 100 Stat. 2227 , provided that:
"(1) In general.-The amendments made by this section [amending this section and sections 243, 291, 381, 616, and 617 of this title] shall apply to costs paid or incurred after December 31, 1986, in taxable years ending after such date.
"(2) Transition rule.-The amendments made by this section shall not apply with respect to intangible drilling and development costs incurred by United States companies pursuant to a minority interest in a license for Netherlands or United Kingdom North Sea development if such interest was acquired on or before December 31, 1985."
Pub. L. 97–448, title I, §105(b)(2), Jan. 12, 1983, 96 Stat. 2385 , provided that: "The amendment made by paragraph (1) [amending this section] shall apply to property acquired, and positions established, by the taxpayer after September 22, 1982, in taxable years ending after such date."
Pub. L. 95–618, title IV, §402(e), Nov. 9, 1978, 92 Stat. 3203 , as amended by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095 , provided that:
"(1) In general.-The amendments made by this section [amending this section and sections 57, 465, 751, and 1254 of this title] shall apply with respect to wells commenced on or after October 1, 1978, in taxable years ending on or after such date.
"(2) Election.-The taxpayer may elect to capitalize or deduct any costs to which section 263(c) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] applies by reason of the amendments made by this section [amending this section and sections 57, 465, 751, and 1254 of this title]. Any such election shall be made before the expiration of the time for filing claim for credit or refund of any overpayment of tax imposed by chapter 1 of such Code [section 1 et seq. of this title] with respect to the taxpayer's first taxable year to which the amendments made by this section apply and for which he pays or incurs costs to which such section 263(c) applies by reason of the amendments made by this section. Any election under this paragraph may be changed or revoked at any time before the expiration of the time referred to in the preceding sentence, but after the expiration of such time such election may not be changed or revoked."
Pub. L. 94–455, title XIX, §1904(b)(10)(A)(vii), Oct. 4, 1976, 90 Stat. 1817 , provided that: "The amendments made by this subparagraph [amending this section and sections 6011, 6611, and 6651 of this title and repealing sections 6076 and 6680 of this title] shall apply with respect to acquisitions of stock or debt obligations made after June 30, 1974, except that the repeal of paragraph (2) of section 6011(d) under clause (ii) shall apply with respect to loans and commitments made after such date."
Amendment by section 2122(b)(2) of Pub. L. 94–455, as amended by Pub. L. 96–167, §9(c), Dec. 29, 1979, 93 Stat. 1278 , applicable to taxable years beginning after Dec. 31, 1976, see section 2122(c) of Pub. L. 94–455, as amended, set out as an Effective Date note under section 190 of this title.
Pub. L. 92–178, title I, §109(d)(2), (3), Dec. 10, 1971, 85 Stat. 509 , provided that:
"(2) The amendment made by subsection (b) [amending this section] shall apply to taxable years ending after December 31, 1970.
"(3) The amendments made by subsection (c) [amending this section] shall apply to taxable years beginning after December 31, 1969."
Pub. L. 91–172, title VII, §706(b), Dec. 30, 1969, 83 Stat. 674 , provided that: "The amendment made by subsection (a) [amending this section] shall apply with respect to taxable years beginning after December 31, 1969."
Pub. L. 89–243, §4(p)(3), Oct. 9, 1965, 79 Stat. 965 , provided that: "The amendments made by this subsection [amending this section] shall apply to taxable years ending after September 2, 1964."
Pub. L. 89–243, §4(q), Oct. 9, 1965, 79 Stat. 965 , provided in part that: "Except as otherwise specifically provided in this section and in the amendments made by this section [amending this section and sections 4912, 4914, 4916, 4917, 4919, 4920, and 4931 of this title], such amendments shall apply with respect to acquisitions of stock and debt obligations made after February 10, 1965."
Pub. L. 87–834, §21(d), Oct. 16, 1962, 76 Stat. 1064 , provided that: "The amendments made by this section [enacting section 182 of this title and amending this section] shall apply with respect to taxable years beginning after December 31, 1962."
Pub. L. 89–243, §1(a), Oct. 9, 1965, 79 Stat. 954 , provided that: "This Act [amending this section and sections 4912, 4914, 4916, 4917, 4919, 4920, and 4931 of this title, and enacting provisions set out as notes under sections 6011 and 6076 of this title] may be cited as the 'Interest Equalization Tax Extension Act of 1965'."
Pub. L. 88–563, §1(a), Sept. 2, 1964, 78 Stat. 809 , provided that: "This Act [enacting sections 4911 to 4920, 4931, 6076, 6680, 6681, and 7241 of this title, amending this section and sections 1232, 6011, and 6103 of this title, and enacting provisions set out as notes under section 6011 of this title] may be cited as the 'Interest Equalization Tax Act'."