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26 U.S.C. § 12 — Cross references relating to tax on corporations
Federal law — U.S. Code and appendices · legal_authorities
(1) For tax on the unrelated business income of certain charitable and other corporations exempt from tax under this chapter, see section 511.
(2) For accumulated earnings tax and personal holding company tax, see parts I and II of subchapter G (sec. 531 and following).
(3) For doubling of tax on corporations of certain foreign countries, see section 891.
(4) For rate of withholding in case of foreign corporations, see section 1442.
(5) For alternative minimum tax, see section 55.
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Stable record: federal_law:legal_authorities:record_usc_90f9b62f944f75b58b254a4d
Source file: Laws/federal/codes/united-states-code/title-26/section-12-cross-references-relating-to-tax-on-corporations--b18612a298.md
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Source location: Title 26, Chapter 1, § 12; chapter-001-normal-taxes-and-surtaxes.md
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(1) For tax on the unrelated business income of certain charitable and other corporations exempt from tax under this chapter, see section 511.
(2) For accumulated earnings tax and personal holding company tax, see parts I and II of subchapter G (sec. 531 and following).
(3) For doubling of tax on corporations of certain foreign countries, see section 891.
(4) For rate of withholding in case of foreign corporations, see section 1442.
(5) For alternative minimum tax, see section 55.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Gross income from sources within United States** The following items of gross income shall be treated as income from sources within the United States:
(1) **Interest** — Interest from the United States or the District of Columbia, and interest on bonds, notes, or other interest-bearing obligations of noncorporate residents or domestic corporations not including—
(A) interest—
(i) on deposits with a foreign branch of a domestic corporation or a domestic partnership if such branch is engaged in the commercial banking business, and
(ii) on amounts satisfying the requirements of subparagraph (B) of section 871(i)(3) which are paid by a foreign branch of a domestic corporation or a domestic partnership, and
(B) in the case of a foreign partnership, which is predominantly engaged in the active conduct of a trade or business outside the United States, any interest not paid by a trade or business engaged in by the partnership in the United States and not allocable to income which is effectively connected (or treated as effectively connected) with the conduct of a trade or business in the United States.
(2) **Dividends** — The amount received as dividends—
(A) from a domestic corporation, or
(B) from a foreign corporation unless less than 25 percent of the gross income from all sources of such foreign corporation for the 3-year period ending with the close of its taxable year preceding the declaration of such dividends (or for such part of such period as the corporation has been in existence) was effectively connected (or treated as effectively connected other than income described in section 884(d)(2)) with the conduct of a trade or business within the United States; but only in an amount which bears the same ratio to such dividends as the gross in
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 861
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Other rates of tax on individuals, etc.**
(1) For rates of tax on nonresident aliens, see section 871.
(2) For doubling of tax on citizens of certain foreign countries, see section 891.
(3) For rate of withholding in the case of nonresident aliens, see section 1441.
(4) For alternative minimum tax, see section 55.
**(b) Special limitations on tax**
(1) For limitation on tax in case of income of members of Armed Forces, astronauts, and victims of certain terrorist attacks on death, see section 692.
(2) For computation of tax where taxpayer restores substantial amount held under claim of right, see section 1341.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 5
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Corporations in general** A tax is hereby imposed for each taxable year on the taxable income of every corporation.
**(b) Amount of tax** The amount of the tax imposed by subsection (a) shall be 21 percent of taxable income.
**(c) Exceptions** Subsection (a) shall not apply to a corporation subject to a tax imposed by—
(1) section 594 (relating to mutual savings banks conducting life insurance business),
(2) subchapter L (sec. 801 and following, relating to insurance companies), or
(3) subchapter M (sec. 851 and following, relating to regulated investment companies and real estate investment trusts).
**(d) Foreign corporations** In the case of a foreign corporation, the taxes imposed by subsection (a) and section 55 shall apply only as provided by section 882.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 11
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** There is hereby imposed (in addition to any other tax imposed by this subtitle) a tax equal to the excess (if any) of—
(1) the tentative minimum tax for the taxable year, over
(2) the regular tax for the taxable year plus, in the case of an applicable corporation, the tax imposed by section 59A.
**(b) Tentative minimum tax** For purposes of this part—
(1) **Noncorporate taxpayers** — In the case of a taxpayer other than a corporation—
(A) *In general* — The tentative minimum tax for the taxable year is the sum of—
(i) 26 percent of so much of the taxable excess as does not exceed $175,000, plus
(ii) 28 percent of so much of the taxable excess as exceeds $175,000.
The amount determined under the preceding sentence shall be reduced by the alternative minimum tax foreign tax credit for the taxable year.
(B) *Taxable excess* — For purposes of this subsection, the term “taxable excess” means so much of the alternative minimum taxable income for the taxable year as exceeds the exemption amount.
(C) *Married individual filing separate return* — In the case of a married individual filing a separate return, subparagraph (A) shall be applied by substituting 50 percent of the dollar amount otherwise applicable under clause (i) and clause (ii) thereof. For purposes of the preceding sentence, marital status shall be determined under section 7703.
(D) *Alternative minimum taxable income* — The term “alternative minimum taxable income” means the taxable income of the taxpayer for the taxable year—
(i) determined with the adjustments provided in section 56 and section 58, and
(ii) increased by the amount of the items of tax preference described in section 57.
If a taxpayer is subject to the regular tax, such taxpayer shal
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 55
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Federal law — U.S. Code and appendices · legal_authorities
There shall be allowed as a credit against the tax imposed by this subtitle the amount of tax withheld at source under subchapter A of chapter 3 (relating to withholding of tax on nonresident aliens and on foreign corporations).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 33
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Federal law — U.S. Code and appendices · legal_authorities
**(a) [General rule] 11 Subsec. (a) heading editorially supplied.** In any case in which a consolidated return is made or is required to be made, the tax shall be determined, computed, assessed, collected, and adjusted in accordance with the regulations under section 1502 prescribed before the last day prescribed by law for the filing of such return.
**(b) Repealed. Pub. L. 94–455, title X, § 1052(c)(5), Oct. 4, 1976, 90 Stat. 1648]**
**(c) Special rule for application of certain losses against income of insurance companies taxed under section 801**
(1) **In general** — If an election under section 1504(c)(2) is in effect for the taxable year and the consolidated taxable income of the members of the group not taxed under section 801 results in a consolidated net operating loss for such taxable year, then under regulations prescribed by the Secretary, the amount of such loss which cannot be absorbed in the applicable carry-back periods against the taxable income of such members not taxed under section 801 shall be taken into account in determining the consolidated taxable income of the affiliated group for such taxable year to the extent of 35 percent of such loss or 35 percent of the taxable income of the members taxed under section 801, whichever is less. The unused portion of such loss shall be available as a carryover, subject to the same limitations (applicable to the sum of the loss for the carryover year and the loss (or losses) carried over to such year), in applicable carryover years.
(2) **Losses of recent nonlife affiliates** — Notwithstanding the provisions of paragraph (1), a net operating loss for a taxable year of a member of the group not taxed under section 801 shall not be taken into account in determining the taxable income of a member taxed under
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1503
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Federal law — U.S. Code and appendices · legal_authorities
Page 64
TITLE 26—INTERNAL REVENUE CODE
§ 12
EFFECTIVE DATE OF 1966 AMENDMENT
Pub. L. 89–809, title I, § 104(n), Nov. 13, 1966, 80 Stat.
1563, provided that: ‘‘The amendments made by this
section (other than subsection (k)) [enacting section
6683 to this title and amending this section and sec-
tions 245, 301, 512, 542, 543, 545, 819, 821, 822, 831, 832, 841,
842, 881, 882, 884, 952, 953, 1249, 1442, and 6016 of this title]
shall apply with respect to taxable years beginning
after December 31, 1966. The amendment made by sub-
section (k) [amending section 1248(d)(4) of this title]
shall apply with respect to sales or exchanges occurring
after December 31, 1966.’’
EFFECTIVE DATE OF 1964 AMENDMENT
Amendment by Pub. L. 88–272, except for purposes of
section 21 of this title, effective with respect to taxable
years beginning after Dec. 31, 1963, see section 131 of
Pub. L. 88–272, set out as a note under section 1 of this
title.
EFFECTIVE DATE OF 1960 AMENDMENT
Amendment by Pub. L. 86–779 applicable with respect
to taxable years of real estate investment trusts begin-
ning after Dec. 31, 1960, see section 10(k) of Pub. L.
86–779, set out as an Effective Date note under section
856 of this title.
ALLOCATION
OF 1975 TAXABLE INCOME AMONG COMPO-
NENT MEMBERS OF CONTROLLED GROUP OF CORPORA-
TIONS
Pub. L. 94–12, title III, § 303(c)(1), Mar. 29, 1975, 89 Stat.
44, provided in part that: ‘‘In applying subsection (b)(2)
of section 11 [former subsec. (b)(2) of this section], the
first $25,000 of taxable income and the second $25,000 of
taxable income shall each be allocated among the com-
ponent members of a controlled group of corporations
in the same manner as the surtax exemption is allo-
cated.’’
§ 12. Cross references relating to tax on corpora-
tions
(1
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 12
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