26 USC 561 - Definition of deduction for dividends paid

U.S Code last checked for updates: May 19, 2024

§ 561.

Definition of deduction for dividends paid

(a)

General rule

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 565), and

(3)

in the case of a personal holding company, the dividend carryover described in section 564.

(b)

Special rules applicable

(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.)

cite as: 26 USC 561