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26 U.S.C. § 199 — Repealed. Pub. L. 115–97, title I, § 13305(a), Dec. 22, 2017, 131 Stat. 2126]

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 199 — Repealed. Pub. L. 115–97, title I, § 13305(a), Dec. 22, 2017, 131 Stat. 2126]

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Source file: Laws/federal/codes/united-states-code/title-26/section-199-repealed-pub-l-11597-title-i-13305-a-dec-22-2017-131-stat-2126--770fde4560.md
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Source location: Title 26, Chapter 1, § 199; chapter-001-normal-taxes-and-surtaxes.md

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### Statutory Notes Section, added Pub. L. 108–357, title I, § 102(a), Oct. 22, 2004, 118 Stat. 1424; amended Pub. L. 109–135, title IV, § 403(a)(1)–(13), Dec. 21, 2005, 119 Stat. 2615–2619; Pub. L. 109–222, title V, § 514(a), (b), May 17, 2006, 120 Stat. 366; Pub. L. 109–432, div. A, title IV, § 401(a), Dec. 20, 2006, 120 Stat. 2953; Pub. L. 110–343, div. B, title IV, § 401(a), (b), div. C, title III, § 312(a), title V, § 502(c), Oct. 3, 2008, 122 Stat. 3851, 3869, 3876; Pub. L. 111–312, title VII, § 746(a), Dec. 17, 2010, 124 Stat. 3319; Pub. L. 112–240, title III, § 318(a), Jan. 2, 2013, 126 Stat. 2331; Pub. L. 113–295, div. A, title I, § 130(a), title II, §§ 219(b), 221(a)(37), Dec. 19, 2014, 128 Stat. 4018, 4035, 4043; Pub. L. 114–113, div. P, title III, § 305(a), div. Q, title I, § 170(a), Dec. 18, 2015, 129 Stat. 3040, 3069, related to deduction of income attributable to domestic production activities. #### Subsection (c)(3)(C) of this Section Prior to Repeal Prior to repeal by section 13305(a) of Pub. L. 115–97, subsection (c)(3)(C) of this section read as follows: (c) Qualified production activities income (3) Special rules for determining costs (C) Transportation costs of independent refiners (i) In general In the case of any taxpayer who is in the trade or business of refining crude oil and who is not a major integrated oil company (as defined in section 167(h)(5)(B), determined without regard to clause (iii) thereof) for the taxable year, in computing oil related qualified production activities income under subsection (d)(9)(B), the amount allocated to domestic production gross receipts under paragraph (1)(B) for costs related to the transportation of oil shall be 25 percent of the amount properly allocable under such paragraph (determined without regard to this subparagraph). (ii) Termination Clause (i) shall not apply to any taxable year beginning after December 31, 2021. See Amendment Relating to Consolidated Appropriations Act, 2016 note below. #### Subsection (d)(8) of this Section Prior to Repeal Prior to repeal by section 13305(a) of Pub. L. 115–97, subsection (d)(8) of this section read as follows: (d) Definitions and special rules (8) Treatment of activities in Puerto Rico (A) In general In the case of any taxpayer with gross receipts for any taxable year from sources within the Commonwealth of Puerto Rico, if all of such receipts are taxable under section 1 or 11 for such taxable year, then for purposes of determining the domestic production gross receipts of such taxpayer for such taxable year under subsection (c)(4), the term “United States” shall include the Commonwealth of Puerto Rico. (B) Special rule for applying wage limitation In the case of any taxpayer described in subparagraph (A), for purposes of applying the limitation under subsection (b) for any taxable year, the determination of W–2 wages of such taxpayer shall be made without regard to any exclusion under section 3401(a)(8) for remuneration paid for services performed in Puerto Rico. (C) Termination This paragraph shall apply only with respect to the first 11 taxable years of the taxpayer beginning after December 31, 2005, and before January 1, 2017. See Extension of Deduction Allowable With Respect to Income Attributable to Domestic Production Activities in Puerto Rico note below. #### Effective Date of Repeal Repeal applicable to taxable years beginning after Dec. 31, 2017, except as provided by transition rule, see section 13305(c) of Pub. L. 115–97, set out as an Effective Date of 2017 Amendment note under [section 74 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section74&num=0&edition=prelim). #### Amendment Relating to Consolidated Appropriations Act, 2016 Pub. L. 115–141, div. U, title I, § 102, Mar. 23, 2018, 132 Stat. 1169, provided that: “(a) Amendment Relating to Section 305 of Division P.—For purposes of applying section 199(c)(3)(C)(i) of the Internal Revenue Code of 1986 (as in effect before its repeal by Public Law 115–97) [see Subsection (c)(3)(C) of this Section Prior to Repeal note above] to taxable years beginning after December 31, 2015, and before January 1, 2018, such section shall be applied—“(1) by inserting ‘who elects the application of this clause for any taxable year,’ after ‘In the case of any taxpayer’, “(2) by substituting ‘, and who’ for ‘and who’, “(3) by substituting ‘such taxable year’ for ‘the taxable year’, and “(4) by substituting ‘(as defined in subsection (d)(9)(B))’ for ‘under subsection (d)(9)(B)’. “(b) Effective Date.—The amendment made by this section [amending this section] shall take effect as if included in section 305 of division P of the Consolidated Appropriations Act, 2016 [Pub. L. 114–113].” #### Extension of Deduction Allowable With Respect to Income Attributable to Domestic Production Activities in Puerto Rico Pub. L. 115–123, div. D, title I, § 40309, Feb. 9, 2018, 132 Stat. 146, provided that: “For purposes of applying section 199(d)(8)(C) of the Internal Revenue Code of 1986 [see Subsection (d)(8) of this Section Prior to Repeal note above] with respect to taxable years beginning during 2017, such section shall be applied— “(1) by substituting ‘first 12 taxable years’ for ‘first 11 taxable years’, and “(2) by substituting ‘January 1, 2018’ for ‘January 1, 2017’.”

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 74 — Prizes and awards

**(a) General rule** Except as otherwise provided in this section or in section 117 (relating to qualified scholarships), gross income includes amounts received as prizes and awards. **(b) Exception for certain prizes and awards transferred to charities** Gross income does not include amounts received as prizes and awards made primarily in recognition of religious, charitable, scientific, educational, artistic, literary, or civic achievement, but only if— (1) the recipient was selected without any action on his part to enter the contest or proceeding; (2) the recipient is not required to render substantial future services as a condition to receiving the prize or award; and (3) the prize or award is transferred by the payor to a governmental unit or organization described in paragraph (1) or (2) of section 170(c) pursuant to a designation made by the recipient. **(c) Exception for certain employee achievement awards** (1) **In general** — Gross income shall not include the value of an employee achievement award (as defined in section 274(j)) received by the taxpayer if the cost to the employer of the employee achievement award does not exceed the amount allowable as a deduction to the employer for the cost of the employee achievement award. (2) **Excess deduction award** — If the cost to the employer of the employee achievement award received by the taxpayer exceeds the amount allowable as a deduction to the employer, then gross income includes the greater of— (A) an amount equal to the portion of the cost to the employer of the award that is not allowable as a deduction to the employer (but not in excess of the value of the award), or (B) the amount by which the value of the award exceeds the amount allowable as a deduction to the employer. The remaining

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26 U.S.C. § 181 — Treatment of certain qualified productions

**(a) Election to treat costs as expenses** (1) **In general** — A taxpayer may elect to treat the cost of any qualified film or television production, any qualified live theatrical production, and any qualified sound recording production as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction. (2) **Dollar limitation** (A) *In general* — Paragraph (1) shall not apply to so much of the aggregate cost of any qualified film or television production or any qualified live theatrical production as exceeds $15,000,000. (B) *Higher dollar limitation for productions in certain areas* — In the case of any qualified film or television production or any qualified live theatrical production the aggregate cost of which is significantly incurred in an area eligible for designation as— (i) a low-income community under section 45D, or (ii) a distressed county or isolated area of distress by the Delta Regional Authority established under [section 2009aa–1 of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009aa–1&num=0&edition=prelim), United States Code, subparagraph (A) shall be applied by substituting “$20,000,000” for “$15,000,000”. (C) *Qualified sound recording production* — Paragraph (1) shall not apply to so much of the aggregate cost of any qualified sound recording production, or to so much of the aggregate, cumulative cost of all such qualified sound recording productions in the taxable year, as exceeds $150,000. **(b) No other deduction or amortization deduction allowable** With respect to the basis of any qualified film or television production, any qualified live theatrical production, or any qualified sound recording production to which an election is made

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 56 — Adjustments in computing alternative minimum taxable income

**(a) Adjustments applicable to all taxpayers** In determining the amount of the alternative minimum taxable income for any taxable year the following treatment shall apply (in lieu of the treatment applicable for purposes of computing the regular tax): (1) **Depreciation** (A) *In general* (i) *Property other than certain personal property* — Except as provided in clause (ii), the depreciation deduction allowable under section 167 with respect to any tangible property placed in service after December 31, 1986, shall be determined under the alternative system of section 168(g). In the case of property placed in service after December 31, 1998, the preceding sentence shall not apply but clause (ii) shall continue to apply. (ii) *150-percent declining balance method for certain property* — The method of depreciation used shall be— (I) the 150 percent declining balance method, (II) switching to the straight line method for the 1st taxable year for which using the straight line method with respect to the adjusted basis as of the beginning of the year will yield a higher allowance. The preceding sentence shall not apply to any section 1250 property (as defined in section 1250(c)) (and the straight line method shall be used for such section 1250 property) or to any other property if the depreciation deduction determined under section 168 with respect to such other property for purposes of the regular tax is determined by using the straight line method. (B) *Exception for certain property* — This paragraph shall not apply to property described in paragraph (1), (2), (3), or (4) of section 168(f), or in section 168(e)(3)(C)(iv). (C) *Coordination with transitional rules* (i) *In general* — This paragraph shall not apply to property pla

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 904 — Limitation on credit

**(a) Limitation** The total amount of the credit taken under section 901(a) shall not exceed the same proportion of the tax against which such credit is taken which the taxpayer’s taxable income from sources without the United States (but not in excess of the taxpayer’s entire taxable income) bears to his entire taxable income for the same taxable year. **(b) Taxable income for purpose of computing limitation** (1) **Personal exemptions** — For purposes of subsection (a), the taxable income in the case of an individual, estate, or trust shall be computed without any deduction for personal exemptions under section 151 or 642(b). (2) **Capital gains** — For purposes of this section— (A) *In general* — Taxable income from sources outside the United States shall include gain from the sale or exchange of capital assets only to the extent of foreign source capital gain net income. (B) *Special rules where capital gain rate differential* — In the case of any taxable year for which there is a capital gain rate differential— (i) in lieu of applying subparagraph (A), the taxable income from sources outside the United States shall include gain from the sale or exchange of capital assets only in an amount equal to foreign source capital gain net income reduced by the rate differential portion of foreign source net capital gain, (ii) the entire taxable income shall include gain from the sale or exchange of capital assets only in an amount equal to capital gain net income reduced by the rate differential portion of net capital gain, and (iii) for purposes of determining taxable income from sources outside the United States, any net capital loss (and any amount which is a short-term capital loss under section 1212(a)) from sources outside the United States to

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26 U.S.C. § 199 — Untitled legal text

Page 929 TITLE 26—INTERNAL REVENUE CODE [§ 199 this section [amending this section] shall apply to ex- penditures paid or incurred after December 31, 2009.’’ EFFECTIVE DATE OF 2008 AMENDMENT Pub. L. 110–343, div. C, title III, § 318(b), Oct. 3, 2008, 122 Stat. 3873, provided that: ‘‘The amendment made by this section [amending this section] shall apply to ex- penditures paid or incurred after December 31, 2007.’’ EFFECTIVE DATE OF 2006 AMENDMENT Pub. L. 109–432, div. A, title I, § 109(c), Dec. 20, 2006, 120 Stat. 2939, provided that: ‘‘The amendments made by this section [amending this section] shall apply to ex- penditures paid or incurred after December 31, 2005.’’ EFFECTIVE DATE OF 2004 AMENDMENT Pub. L. 108–311, title III, § 308(b), Oct. 4, 2004, 118 Stat. 1179, provided that: ‘‘The amendment made by sub- section (a) [amending this section] shall apply to ex- penditures paid or incurred after December 31, 2003.’’ EFFECTIVE DATE OF 2000 AMENDMENT Pub. L. 106–554, § 1(a)(7) [title I, § 162(c)], Dec. 21, 2000, 114 Stat. 2763, 2763A–625, provided that: ‘‘The amend- ments made by this section [amending this section] shall apply to expenditures paid or incurred after the date of the enactment of this Act [Dec. 21, 2000].’’ EFFECTIVE DATE OF 1999 AMENDMENT Amendment by section 532(c)(2)(A) of Pub. L. 106–170 applicable to any instrument held, acquired, or entered into, any transaction entered into, and supplies held or acquired on or after Dec. 17, 1999, see section 532(d) of Pub. L. 106–170, set out as a note under section 170 of this title. EFFECTIVE DATE Pub. L. 105–34, title IX, § 941(c), Aug. 5, 1997, 111 Stat. 885, provided that: ‘‘The amendments made by this sec- tion [enacting this section] shall apply to expenditures paid or incurred after th

Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 199

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