26 U.S.C. § 176 — Payments with respect to employees of certain foreign corporations

FEDERAL · 26 U.S.C. · Chapter 1

Payments with respect to employees of certain foreign corporations

Current through Pub. L. 119-102

Title 26 — Internal Revenue Code·Ch. 1 — NORMAL TAXES AND SURTAXES·Subch. B·Pt. VI

In the case of a domestic corporation, there shall be allowed as a deduction amounts (to the extent not compensated for) paid or incurred pursuant to an agreement entered into under section 3121(l) with respect to services performed by United States citizens employed by foreign subsidiary corporations. Any reimbursement of any amount previously allowed as a deduction under this section shall be included in gross income for the taxable year in which received.

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In the case of a domestic corporation, there shall be allowed as a deduction amounts (to the extent not compensated for) paid or incurred pursuant to an agreement entered into under section 3121(l) with respect to services performed by United States citizens employed by foreign subsidiary corporations. Any reimbursement of any amount previously allowed as a deduction under this section shall be included in gross income for the taxable year in which received.

26 U.S.C. § 176 (Payments with respect to employees of certain foreign corporations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Added Sept. 1, 1954, ch. 1206, title II, §210(a), 68 Stat. 1096.)

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