FEDERAL · 26 U.S.C. · Chapter Subchapter F—Exempt Organizations
Taxes of foreign countries and possessions of the United States
26 U.S.C. § 515
This text of 26 U.S.C. § 515 (Taxes of foreign countries and possessions of the United States) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 515.
Text
The amount of taxes imposed by foreign countries and possessions of the United States shall be allowed as a credit against the tax of an organization subject to the tax imposed by section 511 to the extent provided in section 901; and in the case of the tax imposed by section 511, the term "taxable income" as used in section 901 shall be read as "unrelated business taxable income".
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Source Credit
History
(Aug. 16, 1954, ch. 736, 68A Stat. 176.)
Editorial Notes
Editorial Notes
Amendments
1969—Pub. L. 91–172, title I, §101(a), Dec. 30, 1969, 83 Stat. 492, substituted "PART IV" for "PART III" as part designation.
1962—Pub. L. 87–834, §17(b)(5), Oct. 16, 1962, 76 Stat. 1051, struck out item 522 "Tax on farmers' cooperatives".
Amendments
1969—Pub. L. 91–172, title I, §101(a), Dec. 30, 1969, 83 Stat. 492, substituted "PART IV" for "PART III" as part designation.
1962—Pub. L. 87–834, §17(b)(5), Oct. 16, 1962, 76 Stat. 1051, struck out item 522 "Tax on farmers' cooperatives".
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Bluebook (online)
26 U.S.C. § 515, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/515.