Source: https://www.law.cornell.edu/uscode/text/26/964
Timestamp: 2020-01-27 14:56:13
Document Index: 259348152

Matched Legal Cases: ['§ 964', '§\u202f964', '§\u202f12', '§\u202f442', '§\u202f1065', '§\u202f1901', '§\u202f206', '§\u202f288', '§\u202f6129', '§\u202f1111', '§\u202f14102', '§\u202f14212', '§\u202f14102', '§\u202f1065', '§\u202f1906', '§\u202f14102', '§\u202f1111', '§\u202f6129']

26 U.S. Code § 964 - Miscellaneous provisions | U.S. Code | US Law | LII / Legal Information Institute
Section 964. Miscellaneous provisions
26 U.S. Code § 964. Miscellaneous provisions
(1) In generalFor purposes of this chapter, section 6038, section 6046, and such other provisions as may be specified in regulations—
(2) Qualified insurance branchFor purposes of paragraph (1), the term “qualified insurance branch” means any branch of a controlled foreign corporation which is licensed and predominantly engaged on a permanent basis in the active conduct of an insurance business in a foreign country if—
(A) In generalIf, for any taxable year of a controlled foreign corporation beginning after December 31, 2017, any amount is treated as a dividend under paragraph (1) by reason of a sale or exchange by the controlled foreign corporation of stock in another foreign corporation held for 1 year or more, then, notwithstanding any other provision of this title—
a United States shareholder with respect to the selling controlled foreign corporation shall include in gross income for the taxable year of the shareholder with or within which such taxable year of the controlled foreign corporation ends an amount equal to the shareholder’s pro rata share (determined in the same manner as under section 951(a)(2)) of the amount treated as subpart F income under clause (i), and
(Added Pub. L. 87–834, § 12(a), Oct. 16, 1962, 76 Stat. 1027; amended Pub. L. 91–172, title IV, § 442(b)(1), Dec. 30, 1969, 83 Stat. 628; Pub. L. 94–455, title X, § 1065(b), title XIX, §§ 1901(b)(32)(B)(iii), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1654, 1800, 1834; Pub. L. 97–34, title II, § 206(c), Aug. 13, 1981, 95 Stat. 225; Pub. L. 97–248, title II, § 288(b)(2), Sept. 3, 1982, 96 Stat. 571; Pub. L. 100–647, title VI, § 6129(a), Nov. 10, 1988, 102 Stat. 3716; Pub. L. 105–34, title XI, § 1111(a), Aug. 5, 1997, 111 Stat. 968; Pub. L. 115–97, title I, §§ 14102(c)(1), 14212(b)(4), Dec. 22, 2017, 131 Stat. 2193, 2217.)
2017—Subsec. (b). Pub. L. 115–97, § 14212(b)(4), struck out “, 955,” after “sections 952”.
Subsec. (e)(4). Pub. L. 115–97, § 14102(c)(1), added par. (4).
1982—Subsec. (a). Pub. L. 97–248 inserted provision that payments referred to in sentence beginning “In determining such earnings and profits” are payments which would be unlawful under the Foreign Corrupt Practices Act of 1977 if the payor were a United States person.
1981—Subsec. (a). Pub. L. 97–34 substituted “section 312(k)(4)” for “section 312(k)(3)”.
1976—Subsec. (a). Pub. L. 94–455, §§ 1065(b), 1901(b)(32)(B)(ii), 1906(b)(13)(A), struck out “or his delegate” after “Secretary”, inserted second sentence, and substituted “312(k)(3)” for “312(m)(3)” after “provided in section”.
Subsecs. (b), (c)(1), (2). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary” whenever appearing.
1969—Subsec. (a). Pub. L. 91–172 inserted reference to the exception provided for in section 312(m)(3).
Pub. L. 115–97, title I, § 14102(c)(2), Dec. 22, 2017, 131 Stat. 2193, provided that:
“The amendments made by this subsection [amending this section] shall apply to sales or exchanges after December 31, 2017.”
Pub. L. 105–34, title XI, § 1111(c)(1), Aug. 5, 1997, 111 Stat. 969, provided that:
“The amendment made by subsection (a) [amending this section] shall apply to gain recognized on transactions occurring after the date of the enactment of this Act [Aug. 5, 1997].”
Pub. L. 100–647, title VI, § 6129(b), Nov. 10, 1988, 102 Stat. 3716, provided that:
“The amendment made by subsection (a) [amending this section] shall apply to taxable years of foreign corporations beginning after December 31, 1988.”