For purposes of subparts A and F of part III, and part V, of subchapter N (relating to income from sources without the United States)-
For purposes of section 904(f) (relating to recapture of overall foreign loss), the making or termination of an election to be treated as an S corporation shall be treated as a disposition of the business.
26 U.S.C. § 1373
EDITORIAL NOTES
PRIOR PROVISIONSA prior section 1373, added Pub. L. 85-866, title I, §64(a), Sept. 2, 1958, 72 Stat. 1652; amended Pub. L. 89-389, §2(b)(3), Apr. 14, 1966, 80 Stat. 114; Pub. L. 91-172, title III, §301(b)(10), Dec. 30, 1969, 83 Stat. 586, related to taxation of corporation undistributed taxable income to shareholders, prior to the general revision of this subchapter by section 2 of Pub. L. 97-354.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Pub. L. 97-354, set out as a note under section 1361 of this title.
- corporation
- The term "corporation" includes associations, joint-stock companies, and insurance companies.