26 U.S. Code § 561 - Definition of deduction for dividends paid
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(a) General rule
The deduction for dividends paid shall be the sum of—
(2) the consent dividends for the taxable year (determined under section 565), and
(3) in the case of a personal holding company, the dividend carryover described in section 564.
(b) Special rules applicable
Source(Aug. 16, 1954, ch. 736, 68A Stat. 198; Pub. L. 87–403, § 3(f),Feb. 2, 1962, 76 Stat. 8; Pub. L. 94–455, title XIX, § 1901(b)(32)(H),Oct. 4, 1976, 90 Stat. 1800.)
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
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