The deduction for dividends paid shall be the sum of—
(1)the dividends paid during the taxable year,
(2)the consent dividends for the taxable year (determined under section
(3)in the case of a personal holding company, the dividend carryover described in section
(b) Special rules applicable
In determining the deduction for dividends paid, the rules provided in section
562 (relating to rules applicable in determining dividends eligible for dividends paid deduction) and section
563 (relating to dividends paid after the close of the taxable year) shall be applicable.
1976—Subsec. (b). Pub. L. 94–455redesignated existing provisions of par. (1) as subsec. (b) and struck out par. (2) relating to special adjustment on disposition of antitrust stock as a dividend.
1962—Subsec. (b). Pub. L. 87–403designated existing provisions as par. (1) and added par. (2).
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–455applicable with respect to taxable years beginning after Dec. 31, 1976, see section 1901(d) ofPub. L. 94–455, set out as a note under section
2 of this title.
Effective Date of 1962 Amendment
Amendment by Pub. L. 87–403applicable only with respect to distributions made after Feb. 2, 1962, see section 3(g) ofPub. L. 87–403, set out as a note under section
312 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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