Internal Revenue Code:Sec. 841. Credit for foreign taxes

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Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle A - Income Taxes
       CHAPTER 1 - NORMAL TAXES AND SURTAXES
        Subchapter L - Insurance Companies
         PART III - PROVISIONS OF GENERAL APPLICATION
       

Statute

    Sec. 841. Credit for foreign taxes
 
      The taxes imposed by foreign countries or possessions of the
    United States shall be allowed as a credit against the tax of a
    domestic insurance company subject to the tax imposed by section
    801 or 831, to the extent provided in the case of a domestic
    corporation in section 901 (relating to foreign tax credit).  For
    purposes of the preceding sentence (and for purposes of applying
    section 906 with respect to a foreign corporation subject to tax
    under this subchapter), the term ''taxable income'' as used in
    section 904 means -
        (1) in the case of the tax imposed by section 801, the life
      insurance company taxable income (as defined in section 801(b)),
      and
        (2) in the case of the tax imposed by section 831, the taxable
      income (as defined in section 832(a)).
 

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 267; Mar. 13, 1956, ch. 83, Sec.
    5(4), 70 Stat. 49; Pub. L. 86-69, Sec. 3(b), June 25, 1959, 73
    Stat. 139; Pub. L. 87-834, Sec. 8(g)(1), Oct. 16, 1962, 76 Stat.
    998; Pub. L. 89-809, title I, Sec. 104(i)(8), Nov. 13, 1966, 80
    Stat. 1562; Pub. L. 98-369, div.  A, title II, Sec. 211(b)(10),
    July 18, 1984, 98 Stat. 755; Pub. L. 99-514, title X, Sec.
    1024(c)(10), Oct. 22, 1986, 100 Stat. 2407.)
 

Miscellaneous

                                 AMENDMENTS
      1986 - Pub. L. 99-514 substituted ''section 801 or 831'' for
    ''section 801, 821, or 831'' in introductory provisions,
    redesignated par. (3) as (2), and struck out former par. (2) which
    read as follows: ''in the case of the tax imposed by section
    821(a), the mutual insurance company taxable income (as defined in
    section 821(b)); and in the case of the tax imposed by section
    821(c), the taxable investment income (as defined in section
    822(a)), and''.
      1984 - Pub. L. 98-369 substituted ''section 801'' for ''section
    802'', wherever appearing, and ''section 801(b)'' for ''section
    802(b)''.
      1966 - Pub. L. 89-809 substituted ''For purposes of the preceding
    sentence (and for purposes of applying section 906 with respect to
    a foreign corporation subject to tax under this subchapter), the
    term 'taxable income' as used in section 904'' for ''For purposes
    of the preceding sentence, the term 'taxable income' as used in
    section 904''.
      1962 - Pub. L. 87-834 added par. (2) and redesignated former par.
    (2) as (3).
      1959 - Pub. L. 86-69 struck out reference to section 811 of this
    title in first sentence, and substituted ''section 802, the life
    insurance company taxable income (as defined in section 802(b)),
    and'' for ''section 802 or 811, the net investment income (as
    defined in section 803(c))'' in par. (1).
      1956 - Act Mar. 13, 1956, inserted references to section 811.
                      EFFECTIVE DATE OF 1986 AMENDMENT
      Amendment by Pub. L. 99-514 applicable to taxable years beginning
    after Dec. 31, 1986, see section 1024(e) of Pub. L. 99-514, set out
    as a note under section 831 of this title.
                      EFFECTIVE DATE OF 1984 AMENDMENT
      Amendment by Pub. L. 98-369 applicable to taxable years beginning
    after Dec. 31, 1983, see section 215 of Pub. L. 98-369, set out as
    an Effective Date note under section 801 of this title.
                      EFFECTIVE DATE OF 1966 AMENDMENT
      Amendment by Pub. L. 89-809 applicable with respect to taxable
    years beginning after Dec. 31, 1966, see section 104(n) of Pub. L.
    89-809, set out as a note under section 11 of this title.
                      EFFECTIVE DATE OF 1962 AMENDMENT
      Amendment by Pub. L. 87-834 applicable with respect to taxable
    years beginning after Dec. 31, 1962, see section 8(h) of Pub. L.
    87-834, set out as a note under section 501 of this title.
                      EFFECTIVE DATE OF 1959 AMENDMENT
      Amendment by Pub. L. 86-69 applicable only with respect to
    taxable years beginning after Dec. 31, 1957, see section 4 of Pub.
    L. 86-69, set out as a note under section 381 of this title.
                      EFFECTIVE DATE OF 1956 AMENDMENT
      Amendment by act Mar. 13, 1956, applicable only to taxable years
    beginning after Dec. 31, 1954, see section 6 of act Mar. 13, 1956,
    set out as a note under section 316 of this title.
 

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