26 USC 515 - Taxes of Foreign Countries and Possessions of the United States

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".

(Aug. 16, 1954, ch. 736, 68A Stat. 176.)

Sections:  Previous  507  508  509  511  512  513  514  515  521  526  527  528  529  530  531  Next

Last modified: October 26, 2015