26 U.S.C. § 526 — Shipowners' protection and indemnity associations

FEDERAL · 26 U.S.C. · Chapter 1

Shipowners' protection and indemnity associations

Current through Pub. L. 119-102

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

There shall not be included in gross income the receipts of shipowners' mutual protection and indemnity associations not organized for profit, and no part of the net earnings of which inures to the benefit of any private shareholder; but such corporations shall be subject as other persons to the tax on their taxable income from interest, dividends, and rents.

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26 U.S.C. § 526 (Shipowners' protection and indemnity associations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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History

(Aug. 16, 1954, ch. 736, 68A Stat. 178.)