26 U.S.C. § 12 — Cross references relating to tax on corpora-

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) 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 sub- chapter 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 cor- porations, see section 1442. (5) For alternative minimum tax, see section 55. (Aug. 16, 1954, ch. 736, 68A Stat. 11; Pub. L. 88–272, title II, § 234(b)(4), Feb. 26, 1964, 78 Stat. 115; Pub. L. 91–172, title III, § 301(b)(3), Dec. 30, 1969, 83 Stat. 585; Pub. L. 94–12, title III, § 303(c)(2), Mar. 29, 1975, 89 Stat. 44; Pub. L. 95–600, title III, § 301(b)(1), Nov. 6, 1978, 92 Stat. 2820; Pub. L. 98–369, div. A, title IV, § 474(r)(29)(E), July 18, 1984, 98 Stat. 844; Pub. L. 99–514, title VII, § 701(e)(4)(B), Oct. 22, 1986, 100 Stat. 2343; Pub. L. 115–97, title I, §§ 12001(b)(12), 13001(b)(2)(B), Dec. 22, 2017, 131 Stat. 2094, 2096; Pub. L. 117–169, title I, § 10101(a)(4)(D), Aug. 16, 2022, 136 Stat. 1822.) Editorial Notes AMENDMENTS 2022—Par. (5). Pub. L. 117–169 added par. (5). 2017—Pars. (4) to (6). Pub. L. 115–97, § 13001(b)(2)(B), re- designated par. (5) as (4) and struck out former pars. (4) and (6) which read as follows: ‘‘(4) For alternative tax in case of capital gains, see section 1201(a). ‘‘(6) For limitation on benefits of graduated rate schedule provided in section 11(b), see section 1551.’’ Par. (7). Pub. L. 115–97, § 12001(b)(12), struck out par. (7) which read as follows: ‘‘For alternative minimum tax, see section 55.’’ 1986—Par. (7). Pub. L. 99–514 amended par. (7) gen- erally, substituting ‘‘alternative minimum tax’’ and ‘‘55’’ for ‘‘minimum tax for tax preferences’’ and ‘‘56’’, respectively. 1984—Pars. (6) to (8). Pub. L. 98–369 redesignated pars. (7) and (8) as (6) and (7), respectively. Former par. (6), which referred to section 1451 for withholding of tax on tax-free covenant bonds, was struck out. 1978—Par. (7). Pub. L. 95–600 substituted ‘‘benefits of graduated rate schedule provided in section 11(b)’’ for ‘‘the $25,000 exemption from surtax provided in section 11(c)’’. 1975—Par. (7). Pub. L. 94–12 substituted ‘‘$50,000’’ for ‘‘$25,000’’ for a limited period. See Effective and Termi- nation Dates of 1975 Amendment note set out below. 1969—Par. (8). Pub. L. 91–172 added par. (8). 1964—Par. (8). Pub. L. 88–272 struck out par. (8) which referred to section 1503 for additional tax for corpora- tions filing consolidated returns. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2022 AMENDMENT Amendment by Pub. L. 117–169 applicable to taxable years beginning after Dec. 31, 2022, see section 10101(f) of Pub. L. 117–169, set out as a note under section 11 of this title. EFFECTIVE DATE OF 2017 AMENDMENT Amendment by section 12001(b)(12) of Pub. L. 115–97 applicable to taxable years beginning after Dec. 31, 2017, see section 12001(c) of Pub. L. 115–97, set out as a note under section 11 of this title. Amendment by section 13001(b)(2)(B) of Pub. L. 115–97 applicable to taxable years beginning after Dec. 31, 2017, see section 13001(c)(1) of Pub. L. 115–97, set out as a note under section 11 of this title. EFFECTIVE DATE OF 1986 AMENDMENT Amendment by Pub. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, with certain excep- tions and qualifications, see section 701(f) of Pub. L. 99–514, set out as an Effective Date note under section 55 of this title. EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98–369 not applicable with re- spect to obligations issued before Jan. 1, 1984, see sec- tion 475(b) of Pub. L. 98–369, set out as a note under sec- tion 33 of this title. EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95–600 applicable to taxable years beginning after Dec. 31, 1978, see section 301(c) of Pub. L. 95–600, set out as a note under section 11 of this title. EFFECTIVE AND TERMINATION DATES OF 1975 AMENDMENT Amendment by Pub. L. 94–12 applicable to taxable years ending after Dec. 31, 1974, but to cease to apply for taxable years ending after Dec. 31, 1975, see section 305(b)(1) of Pub. L. 94–12, set out as a note under section 11 of this title. EFFECTIVE DATE OF 1969 AMENDMENT Amendment by Pub. L. 91–172 applicable to taxable years ending after Dec. 31, 1969, see section 301(c) of Pub. L. 91–172, set out as a note under section 5 of this title. EFFECTIVE DATE OF 1964 AMENDMENT Amendment by Pub. L. 88–272 applicable to taxable years beginning after Dec. 31, 1963, see section 234(c) of Page 65 TITLE 26—INTERNAL REVENUE CODE § 15 Pub. L. 88–272, set out as a note under section 1503 of this title. APPLICABILITY OF CERTAIN AMENDMENTS BY PUBLIC LAW 99–514 IN RELATION TO TREATY OBLIGATIONS OF UNITED STATES For applicability of amendment by Pub. L. 99–514 not- withstanding any treaty obligation of the United States in effect on Oct. 22, 1986, see section 1012(aa)(2) of Pub. L. 100–647, set out as a note under section 861 of this title. PART III—CHANGES IN RATES DURING A TAXABLE YEAR Sec. 15. Effect of changes. Editorial Notes AMENDMENTS 1984—Pub. L. 98–369, div. A, title IV, § 474(b)(3), July 18, 1984, 98 Stat. 830, substituted ‘‘15. Effect of changes’’ for ‘‘21. Effect of changes’’. § 15. Effect of changes (a) General rule If any rate of tax imposed by this chapter changes, and if the taxable year includes the ef- fective date of the change (unless that date is the first day of the taxable year), then— (1) tentative taxes shall be computed by ap- plying the rate for the period before the effec- tive date of the change, and the rate for the period on and after such date, to the taxable income for the entire taxable year; and (2) the tax for such taxable year shall be the sum of that proportion of each tentative tax which the number of days in each period bears to the number of days in the entire taxable year. (b) Repeal of tax For purposes of subsection (a)— (1) if a tax is repealed, the repeal shall be considered a change of rate; and (2) the rate for the period after the repeal shall be zero. (c) Effective date of change For purposes of subsections (a) and (b)— (1) if the rate changes for taxable years ‘‘be- ginning after’’ or ‘‘ending after’’ a certain date, the following day shall be considered the effective date of the change; and (2) if a rate changes for taxable years ‘‘be- ginning on or after’’ a certain date, that date shall be considered the effective date of the change. (d) Section not to apply to inflation adjustments This section shall not apply to any change in rates under subsection (f) of section 1 (relating to adjustments in tax tables so that inflation will not result in tax increases). (e) References to highest rate If the change referred to in subsection (a) in- volves a change in the highest rate of tax im- posed by section 1 or 11(b), any reference in this chapter to such highest rate (other than in a provision imposing a tax by reference to such rate) shall be treated as a reference to the weighted average of the highest rates before and after the change determined on the basis of the respective portions of the taxable year before the date of the change and on or after the date of the change. (f) Rate reductions enacted by Economic Growth and Tax Relief Reconciliation Act of 2001 This section shall not apply to any change in rates under subsection (i) of section 1 (relating to rate reductions after 2000). (Aug. 16, 1954, ch. 736, 68A Stat. 12, § 21; Pub. L. 88–272, title I, § 132, Feb. 26, 1964, 78 Stat. 30; Pub. L. 91–172, title VIII, § 803(e), Dec. 30, 1969, 83 Stat. 685; Pub. L. 92–178, title II, § 205, Dec. 10, 1971, 85 Stat. 511; Pub. L. 94–12, title III, § 305(b)(2), Mar. 29, 1975, 89 Stat. 45; Pub. L. 94–164, § 4(d)(2), Dec. 23, 1975, 89 Stat. 975; Pub. L. 94–455, title IX, § 901(c)(2), Oct. 4, 1976, 90 Stat. 1607; Pub. L. 95–30, title I, § 101(d)(2), May 23, 1977, 91 Stat. 133; Pub. L. 95–600, title I, § 106, Nov. 6, 1978, 92 Stat. 2776; Pub. L. 97–34, title I, § 101(d)(3), Aug. 13, 1981, 95 Stat. 184; renumbered § 15, Pub. L. 98–369, div. A, title IV, § 474(b)(1), July 18, 1984, 98 Stat. 830; Pub. L. 99–514, title I, § 101(b), Oct. 22, 1986, 100 Stat. 2099; Pub. L. 100–647, title I, § 1006(a), Nov. 10, 1988, 102 Stat. 3393; Pub. L. 107–16, title I, § 101(c)(3), June 7, 2001, 115 Stat. 43.) Editorial Notes AMENDMENTS 2001—Subsec. (f). Pub. L. 107–16, § 101(c)(3), added sub- sec. (f). 1988—Subsec. (e). Pub. L. 100–647 added subsec. (e). 1986—Subsec. (d). Pub. L. 99–514 amended subsec. (d) generally, substituting ‘‘apply to inflation adjust- ments’’ for ‘‘apply to section 1 rate changes made by Economic Recovery Tax Act of 1981’’ in heading and struck out ‘‘section 1 attributable to the amendments made by section 101 of the Economic Tax Act of 1981 or’’ before ‘‘subsection (f)’’ in text. 1984—Pub. L. 98–369 renumbered section 21 of this title as this section. 1981—Subsec. (d). Pub. L. 97–34 substituted provisions that this section shall not apply to any change in rates under section 1 attributable to the amendments made by section 101 of the Economic Recovery Tax Act of 1981 or subsec. (f) of section 1 for provisions that had re- lated to the changes made by section 303(b) of the Tax Reduction Act of 1975 in the surtax exemption. Subsecs. (e), (f). Pub. L. 97–34 struck out subsecs. (e) and (f) which had related, respectively, to changes made by the Tax Reduction and Simplification Act of 1977 and to changes made by Revenue Act of 1978. 1978—Subsec. (f). Pub. L. 95–600 added subsec. (f). 1977—Subsec. (d). Pub. L. 95–30, § 101(d)(2)(A), (B), re- designated subsec. (f) as (d). Former subsec. (d), which directed that, in applying subsec. (a) to a taxable year of an individual which was not a calendar year, each change made by the Tax Reform Act of 1969 in part I or in the application of part IV or V of subchapter B for purposes of the determination of taxable income should be treated as a change in a rate of tax, was struck out. Subsec. (e). Pub. L. 95–30, § 101(d)(2)(A), (C), added sub- sec. (e). Former subsec. (e), which directed that, in ap- plying subsec. (a) to a taxable year of an individual which was not a calendar year, each change made by the Revenue Act of 1971 in section 141 (relating to the standard deduction) and section 151 (relating to per- sonal exemptions) should be treated as a change in a rate of tax, was struck out. Subsec. (f). Pub. L. 95–30, § 101(d)(2)(B), redesignated subsec. (f) as (d). 1976—Subsec. (f). Pub. L. 94–455 substituted ‘‘in the surtax exemption and any change under section 11(d) in the surtax exemption’’ for ‘‘and the change made by