Internal Revenue Code · 26 U.S.C.
§ 1501. Privilege to file consolidated returns
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 1501
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Length
- 160 words · about 1 min to read
- Cross-references
- cites 1; cited by 7 Code sections and 16 other regulations
An affiliated group of corporations shall, subject to the provisions of this chapter, have the privilege of making a consolidated return with respect to the income tax imposed by chapter 1 for the taxable year in lieu of separate returns. The making of a consolidated return shall be upon the condition that all corporations which at any time during the taxable year have been members of the affiliated group consent to all the consolidated return regulations prescribed under section 1502 prior to the last day prescribed by law for the filing of such return. The making of a consolidated return shall be considered as such consent. In the case of a corporation which is a member of the affiliated group for a fractional part of the year, the consolidated return shall include the income of such corporation for such part of the year as it is a member of the affiliated group.
(Aug. 16, 1954, ch. 736, 68A Stat. 367.)
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 7 Code sections
- § 542(b)(1) Definition of personal holding company
- § 818(e)(2) Other definitions and special rules
- § 832(g) Insurance company taxable income
- § 904(f)(3)(D)(iv) Limitation on credit
- § 1017(b)(3)(D)(ii) Discharge of indebtedness
- § 1092(d)(4)(B)(ii) Straddles
- § 7701(i)(1) Definitions
Cited in 16 regulations not issued under it
- § 1.44B-1 Credit for employment of certain new employees.
- § 1.269B-1 Stapled foreign corporations.
- § 1.279-6 Application of section 279 to certain affiliated groups.
- § 1.401(b)-1 Certain retroactive changes in plan.
- § 1.475(c)-1 Definitions—dealer in securities.
- § 1.482-7A Methods to determine taxable income in connection with a cost sharing arrangement.
- § 1.522-1 Tax treatment of farmers' cooperative marketing and purchasing associations exempt under section 521.
- § 1.542-4 Corporations filing consolidated returns.
- § 1.818-8 Special rules relating to consolidated returns and certain capital losses.
- § 1.861-8T Computation of taxable income from sources within the United States and from other sources and activities (temporary).
- § 1.1059A-1 Limitation on taxpayer's basis or inventory cost in property imported from related persons.
- § 1.1381-2 Tax on certain farmers' cooperatives.
- § 1.1502-32 Investment adjustments.
- § 1.1502-76 Taxable year of members of group.
- § 1.1504-3 Treatment of stock in a QOF C corporation for purposes of consolidation.
- § 601.104 Collection functions.
Where it sits in the Code
Nearby sections
- § 1501 Privilege to file consolidated returns
- § 1502 Regulations
- § 1503 Computation and payment of tax
- § 1504 Definitions
- § 1505 Cross references