Internal Revenue Code · 26 U.S.C.
§ 301. Distributions of property
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. § 301
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Enacted
- February 2, 1962 by Pub. L. 87–403
- Last amended
- December 19, 2014 by Pub. L. 113–295
- Amendments
- 15 dated changes in the source credit
- Length
- 6 subsections · 898 words · about 4 min to read
- Defines
- 1 term
- Cross-references
- cites 9; cited by 19 Code sections and 109 other regulations
- Regulations
- 1 issued under this section
Except as otherwise provided in this chapter, a distribution of property (as defined in section 317(a)) made by a corporation to a shareholder with respect to its stock shall be treated in the manner provided in subsection (c).
For purposes of this section, the amount of any distribution shall be the amount of money received, plus the fair market value of the other property received.
For purposes of this section, fair market value shall be determined as of the date of the distribution.
That portion of the distribution which is a dividend (as defined in section 316) shall be included in gross income.
That portion of the distribution which is not a dividend shall be applied against and reduce the adjusted basis of the stock.
Except as provided in subparagraph (B), that portion of the distribution which is not a dividend, to the extent that it exceeds the adjusted basis of the stock, shall be treated as gain from the sale or exchange of property.
That portion of the distribution which is not a dividend, to the extent that it exceeds the adjusted basis of the stock and to the extent that it is out of increase in value accrued before March 1, 1913, shall be exempt from tax.
Except to the extent otherwise provided in regulations, solely for purposes of determining the taxable income of any 20 percent corporate shareholder (and its adjusted basis in the stock of the distributing corporation), section 312 shall be applied with respect to the distributing corporation as if it did not contain subsections (k) and (n) thereof.
The reference in paragraph (1) to subsection (n) of section 312 shall be treated as not including a reference to paragraph (7) of such subsection.
The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this subsection.
(Aug. 16, 1954, ch. 736, 68A Stat. 84; Pub. L. 87–403, § 2(a), Feb. 2, 1962, 76 Stat. 5; Pub. L. 87–834, §§ 5(a), (b), 13(f)(2), Oct. 16, 1962, 76 Stat. 977, 1035; Pub. L. 88–272, title II, § 231(b)(2), Feb. 26, 1964, 78 Stat. 105; Pub. L. 88–484, § 1(b)(1), Aug. 22, 1964, 78 Stat. 597; Pub. L. 89–570, § 1(b)(2), Sept. 12, 1966, 80 Stat. 762; Pub. L. 89–809, title I, § 104(f), Nov. 13, 1966, 80 Stat. 1559; Pub. L. 91–172, title II, § 211(b)(1), (2), title IX, § 905(b)(2), Dec. 30, 1969, 83 Stat. 570, 714; Pub. L. 92–178, title III, § 312(a), Dec. 10, 1971, 85 Stat. 526; Pub. L. 94–455, title II, § 205(c)(1)(B), (C), title XIX, §§ 1901(a)(41), (b)(32)(A), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1535, 1771, 1800, 1834; Pub. L. 95–628, § 3(a), (b), Nov. 10, 1978, 92 Stat. 3627; Pub. L. 98–369, div. A, title I, §§ 54(b), 61(d), title VII, § 712(i)(1), July 18, 1984, 98 Stat. 569, 582, 948; Pub. L. 99–514, title VI, § 612(b)(1), title XVIII, § 1804(f)(2)(B), Oct. 22, 1986, 100 Stat. 2250, 2805; Pub. L. 100–203, title X, § 10222(b)(1), Dec. 22, 1987, 101 Stat. 1330–411; Pub. L. 100–647, title I, § 1006(e)(10)–(12), title II, § 2004(j)(3)(B), Nov. 10, 1988, 102 Stat. 3401, 3402, 3605; Pub. L. 108–27, title III, § 302(e)(2), May 28, 2003, 117 Stat. 763; Pub. L. 113–295, div. A, title II, § 221(a)(41)(G), Dec. 19, 2014, 128 Stat. 4044.)
Terms defined here
Where the text says “the term … means”. Select a term to jump to its definition.
Regulations under this section
Treasury regulations (26 CFR) issued under § 301
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 9 other sections
- § 317(a) Other definitions
- § 316 Dividend defined
- § 312 Effect on earnings and profits
- § 318 Constructive ownership of stock
- § 243 Dividends received by corporations
- § 302 Distributions in redemption of stock
- § 331 Gain or loss to shareholder in corporate liquidations
- § 351 Transfer to corporation controlled by transferor
- § 1(h)(11) Tax imposed
Cited by 19 Code sections
- § 121(d)(11) Exclusion of gain from sale of principal residence
- § 279(c)(3)(B)(iv) Interest on indebtedness incurred by corporation to acquire stock or assets of another corporation
- § 302(d) Distributions in redemption of stock
- § 304(a)(1)(B) Redemption through use of related corporations
- § 305(b) Distributions of stock and stock rights
- § 306(a)(2) Dispositions of certain stock
- § 316(a)(2) Dividend defined
- § 331(b) Gain or loss to shareholder in corporate liquidations
- § 332(d)(1)(B) Complete liquidations of subsidiaries
- § 356(b)(2) Receipt of additional consideration
- § 646(e)(3) Tax treatment of electing Alaska Native Settlement Trusts
- § 852(e)(2)(B)(i) Taxation of regulated investment companies and their shareholders
- § 897(k)(2)(C) Disposition of investment in United States real property
- § 1023(1) Cross references
- § 1059(d)(2) Corporate shareholder’s basis in stock reduced by nontaxed portion of extraordinary dividends
- § 1368(a) Distributions
- § 1445(e)(3) Withholding of tax on dispositions of United States real property interests
- § 4041(k) Imposition of tax
- § 7701(a)(47) Definitions
Cited in 109 regulations not issued under it
- § 1.42-18 Qualified contracts.
- § 1.45D-1 New markets tax credit.
- § 1.46-7 Statutory provisions; plan requirements for taxpayers electing additional investment credit, etc.
- § 1.46-8 Requirements for taxpayers electing additional one-percent investment credit (TRASOP's).
- § 1.46-9 Requirements for taxpayers electing an extra one-half percent additional investment credit.
- § 1.59A-3 Base erosion payments and base erosion tax benefits.
- § 1.61-9 Dividends.
- § 1.61-22 Taxation of split-dollar life insurance arrangements.
- § 1.108(i)-1 Deferred discharge of indebtedness income and deferred original issue discount deductions of C corporations.
- § 1.179-4 Definitions.
- § 1.245-1 Dividends received from certain foreign corporations.
- § 1.245A-10 Examples.
- § 1.245A(d)-1 Disallowance of foreign tax credit or deduction.
- § 1.279-5 Rules for application of section 279(b).
- § 1.279-6 Application of section 279 to certain affiliated groups.
- § 1.302-1 General.
- § 1.302-2 Redemptions not taxable as dividends.
- § 1.304-3 Acquisition by a subsidiary.
- § 1.304-4 Special rules for the use of related corporations to avoid the application of section 304.
- § 1.304-7 Certain acquisitions by foreign acquiring corporations.
- § 1.305-1 Stock dividends.
- § 1.305-2 Distributions in lieu of money.
- § 1.305-3 Disproportionate distributions.
- § 1.305-4 Distributions of common and preferred stock.
Show 85 more
- § 1.305-5 Distributions on preferred stock.
- § 1.305-6 Distributions of convertible preferred.
- § 1.305-7 Certain transactions treated as distributions.
- § 1.305-8 Effective dates.
- § 1.306-1 General.
- § 1.306-3 Section 306 stock defined.
- § 1.312-5 Special rule for partial liquidations and certain redemptions.
- § 1.312-8 Effect on earnings and profits of receipt of tax-free distributions requiring adjustment or allocation of basis of stock.
- § 1.316-1 Dividends.
- § 1.316-2 Sources of distribution in general.
- § 1.331-1 Corporate liquidations.
- § 1.336-2 Availability, mechanics, and consequences of section 336(e) election.
- § 1.351-2 Receipt of property.
- § 1.355-6 Recognition of gain on certain distributions of stock or securities in controlled corporation.
- § 1.355-8 Definition of predecessor and successor and limitations on gain recognition under section 355(e) and section 355(f).
- § 1.356-1 Receipt of additional consideration in connection with an exchange.
- § 1.356-2 Receipt of additional consideration not in connection with an exchange.
- § 1.356-4 Exchanges for section 306 stock.
- § 1.358-2 Allocation of basis among nonrecognition property.
- § 1.367(a)-0 Table of contents.
- § 1.367(a)-3 Treatment of transfers of stock or securities to foreign corporations.
- § 1.367(a)-8 Gain recognition agreement requirements.
- § 1.367(a)-9T Treatment of deemed section 351 exchanges pursuant to section 304(a)(1) (temporary).
- § 1.367(b)-3 Repatriation of foreign corporate assets in certain nonrecognition transactions.
- § 1.367(b)-4 Acquisition of foreign corporate stock or assets by a foreign corporation in certain nonrecognition transactions.
- § 1.367(b)-10 Acquisition of parent stock or securities for property in triangular reorganizations.
- § 1.367(e)-1 Distributions described in section 367(e)(1).
- § 1.368-1 Purpose and scope of exception of reorganization exchanges.
- § 1.562-1 Dividends for which the dividends paid deduction is allowable.
- § 1.617-3 Recapture of exploration expenditures.
- § 1.671-2 Applicable principles.
- § 1.801-8 Contracts with reserves based on segregated asset accounts.
- § 1.856-1 Definition of real estate investment trust.
- § 1.860-2 Requirements for deficiency dividends.
- § 1.861-3 Dividends and income inclusions under sections 951, 951A, and 1293 and associated section 78 dividends.
- § 1.861-15 Income from certain aircraft or vessels first leased on or before December 28, 1980.
- § 1.861-16 Income from certain craft first leased after December 28, 1980.
- § 1.861-20 Allocation and apportionment of foreign income taxes.
- § 1.894-1 Income affected by treaty.
- § 1.897-3 Election by foreign corporation to be treated as a domestic corporation under section 897(i).
- § 1.897-5T Corporate distributions (temporary).
- § 1.902-1 Credit for domestic corporate shareholder of a foreign corporation for foreign income taxes paid by the foreign corporation.
- § 1.909-6 Pre-2011 foreign tax credit splitting events.
- § 1.951-1 Amounts included in gross income of United States shareholders.
- § 1.995-1 Taxation of DISC income to shareholders.
- § 1.995-4 Gain on disposition of stock in a DISC.
- § 1.996-3 Divisions of earnings and profits.
- § 1.997-1 Special rules for subchapter C of the Code.
- § 1.1001-1 Computation of gain or loss.
- § 1.1016-5 Miscellaneous adjustments to basis.
- § 1.1041-2 Redemptions of stock.
- § 1.1059(e)-1 Non-pro rata redemptions.
- § 1.1234-1 Options to buy or sell.
- § 1.1245-2 Definition of recomputed basis.
- § 1.1248-1 Treatment of gain from certain sales or exchanges of stock in certain foreign corporations.
- § 1.1250-2 Additional depreciation defined.
- § 1.1254-0 Table of contents for section 1254 recapture rules.
- § 1.1254-3 Section 1254 costs immediately after certain acquisitions.
- § 1.1368-1 Distributions by S corporations.
- § 1.1371-1 Distributions of money by an eligible terminated S corporation.
- § 1.1371-2 Impact of Audit PTTP on ETSC Period.
- § 1.1374-3 Net unrealized built-in gain.
- § 1.1400Z2(b)-1 Inclusion of gains that have been deferred under section 1400Z-2(a).
- § 1.1400Z2(c)-1 Investments held for at least 10 years.
- § 1.1441-3 Determination of amounts to be withheld.
- § 1.1445-5 Special rules concerning distributions and other transactions by corporations, partnerships, trusts, and estates.
- § 1.1445-7 Treatment of foreign corporation that has made an election under section 897(i) to be treated as a domestic corporation.
- § 1.1461-1 Payment and returns of tax withheld.
- § 1.1502-13 Intercompany transactions.
- § 1.1502-19 Excess loss accounts.
- § 1.1502-32 Investment adjustments.
- § 1.1502-33 Earnings and profits.
- § 1.6045-2 Furnishing statement required with respect to certain substitute payments.
- § 1.7872-15 Split-dollar loans.
- § 1.7874-2 Surrogate foreign corporation.
- § 9.1 Investment credit—public utility property elections.
- § 13.10 Distribution of money in lieu of fractional shares.
- § 20.2107-1 Expatriation to avoid tax.
- § 25.2501-1 Imposition of tax.
- § 53.4943-7 Special rules for readjustments involving grandfathered holdings.
- § 58.4501-2 General rules regarding excise tax on stock repurchases.
- § 58.4501-3 Exceptions.
- § 58.4501-7 Special rules for acquisitions or repurchases of stock of certain foreign corporations.
- § 301.9001 Statutory provisions; Outer Continental Shelf Lands Act Amendments of 1978.
- § 302.1 Statutory provisions and Executive order; section 212 of the International Claims Settlement Act, and Executive Order 10644.
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 113–295Parts changed in 2014: (e)(2)
- Amended by Pub. L. 108–27Parts changed in 2003: (f)(4)
- Amended by Pub. L. 100–647Parts changed in 1988: (b)(1) (d) (e) (f)
- Amended by Pub. L. 100–203Parts changed in 1987: (f)(1)
- Amended by Pub. L. 99–514Parts changed in 1986: (f)(3) (g)(4)
- Amended by Pub. L. 98–369Parts changed in 1984: (e) (e)(2) (f) (g) (g)(2)
- Amended by Pub. L. 95–628Parts changed in 1978: (b)(1)(B)(ii) (d)(2)(B)
- Amended by Pub. L. 94–455Parts changed in 1976: (b)(1)(B)(ii) (b)(1)(C) (d)(2)(B) (e) (f) (g)
- Amended by Pub. L. 92–178Parts changed in 1971: (b)(1)(B) (b)(1)(D) (d)(2) (d)(3)
- Amended by Pub. L. 91–172Parts changed in 1969: (b)(1)(B)(ii) (d)(2)(B)
- Amended by Pub. L. 89–809Parts changed in 1966: (b)(1)(B)(ii) (b)(1)(C) (d)(2)(B)
- Amended by Pub. L. 89–570
- Amended by Pub. L. 88–484Parts changed in 1964: (b) (d)
- Amended by Pub. L. 88–272
- Amended by Pub. L. 87–834Parts changed in 1962: (b)(1)(B) (b)(1)(C) (d)(2) (d)(3) (f)
- Enacted by Pub. L. 87–403
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter C Corporate Distributions and Adjustments
- Part I DISTRIBUTIONS BY CORPORATIONS
- Subpart A Effects on Recipients
Nearby sections
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Amendments
2014—Subsec. (e)(2). Pub. L. 113–295 struck out “, 244,” after “section 243” in concluding provisions.
2003—Subsec. (f)(4). Pub. L. 108–27 added par. (4).
1988—Subsec. (b)(1). Pub. L. 100–647, § 1006(e)(10), amended par. (1) generally. Prior to amendment, par. (1) contained subpars. (A) to (D) which provided what the amount of any distribution would be for noncorporate distributees, corporate distributees, certain corporate distributees of foreign corporations, and foreign corporate distributees.
Subsec. (d). Pub. L. 100–647, § 1006(e)(11), amended subsec. (d) generally. Prior to amendment, subsec. (d) contained pars. (1) to (4) which provided what the basis of property received would be for noncorporate distributees, corporate distributees, foreign corporate distributees, and certain corporate distributees of foreign corporations.
Subsec. (e). Pub. L. 100–647, § 2004(j)(3)(B), added par. (3) and redesignated former par. (3) as (4).
Pub. L. 100–647, § 1006(e)(12), redesignated subsec. (f) as (e) and struck out former subsec. (e) which related to special rule for holding period of appreciated property distributed to corporation.
Subsecs. (f), (g). Pub. L. 100–647, § 1006(e)(12), redesignated subsec. (g) as (f). Former subsec. (f) redesignated (e).
1987—Subsec. (f)(1). Pub. L. 100–203 substituted “subsections (k) and (n)” for “subsection (n)”.
1986—Subsec. (f)(3). Pub. L. 99–514, § 1804(f)(2)(B), substituted “this subsection” for “this section”.
Subsec. (g)(4). Pub. L. 99–514, § 612(b)(1), struck out par. (4) which provided: “For partial exclusion from gross income of dividends received by individuals, see section 116.”
1984—Subsec. (e). Pub. L. 98–369, § 54(b), added subsec. (e). Former subsec. (e) redesignated (f).
Subsec. (e)(2). Pub. L. 98–369, § 712(i)(1), substituted “complete liquidation” for “partial or complete liquidation” in subsec. (e)(2), which became subsec. (g)(2).
Subsec. (f). Pub. L. 98–369, § 61(d), added subsec. (f). Former subsec. (f) redesignated (g).
Pub. L. 98–369, § 54(b), redesignated former subsec. (e) as (f).
Subsec. (g). Pub. L. 98–369, §§ 54(b), 61(d), redesignated former subsec. (e) successively as subsec. (f) and as subsec. (g).
Subsec. (g)(2). Pub. L. 98–369, § 712(i)(1), substituted “complete liquidation” for “partial or complete liquidation” in subsec. (e)(2), which became subsec. (g)(2).
1978—Subsec. (b)(1)(B)(ii). Pub. L. 95–628, § 3(a), substituted “amount of gain recognized to the distributing corporation on the distribution” for “amount of gain to the distributing corporation which is recognized under subsection (b), (c), or (d) of section 311, under section 341(f), or under section 617(d)(1), 1245(a), 1250(a), 1251(c), 1252(a), or 1254(a)”.
Subsec. (d)(2)(B). Pub. L. 95–628, § 3(b), substituted “amount of gain recognized to the distributing corporation on the distribution” for “amount of gain to the distributing corporation which is recognized under subsection (b), (c), or (d) of section 311, under section 341(f), or under section 617(d)(1), 1245(a), 1250(a), 1251(c), 1252(a), or 1254(a)”.
1976—Subsec. (b)(1)(B)(ii). Pub. L. 94–455, § 205(c)(1)(B), substituted “1252(a), or 1254(a)” for “or 1252(a)”.
Subsec. (b)(1)(C). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary”.
Subsec. (d)(2)(B). Pub. L. 94–455, § 205(c)(1)(C), substituted “1252(a), or 1254(a)” for “or 1252(a)”.
Subsec. (e). Pub. L. 94–455, § 1901(a)(41), (b)(32)(A), redesignated subsec. (g) as (e). Former subsec. (e), which related to exceptions for certain distributions by personal service corporations, was struck out.
Subsec. (f). Pub. L. 94–455, § 1901(b)(32)(A), struck out subsec. (f) which related to special rules for distribution of antitrust stock to corporations.
Subsec. (g). Pub. L. 94–455, § 1901(b)(32)(A), redesignated subsec. (g) as (e).
1971—Subsec. (b)(1)(B). Pub. L. 92–178, § 312(a)(1), substituted “corporation, unless subparagraph (D) applies” for “corporation” where first appearing.
Subsec. (b)(1)(D). Pub. L. 92–178, § 312(a)(2), added subpar. (D).
Subsec. (d)(2). Pub. L. 92–178, § 312(a)(3), substituted “corporation, unless paragraph (3) applies” for “corporation” where first appearing.
Subsec. (d)(3), (4). Pub. L. 92–178, § 312(a)(4), added par. (3) and redesignated former par. (3) as (4).
1969—Subsec. (b)(1)(B)(ii). Pub. L. 91–172, §§ 211(b)(1), 905(b)(2), substituted “1250(a), 1251(c), or 1252(a)” for “or 1250(a)” and inserted reference to section 311(a).
Subsec. (d)(2)(B). Pub. L. 91–172, §§ 211(b)(2), 905(b)(2), substituted “1250(a), 1251(c), or 1252(a)”, for “or 1250(a)” and inserted reference to section 311(a).
1966—Subsec. (b)(1)(B)(ii). Pub. L. 89–570 included reference to section 617(d)(1).
Subsec. (b)(1)(C). Pub. L. 89–809 substituted “gross income which is effectively connected with the conduct of a trade or business within the United States” for “gross income from sources within the United States” in cl. (i), “gross income which is not effectively connected with the conduct of a trade or business within the United States” for “gross income from sources without the United States” in cl. (ii), and inserted text following cl. (ii) setting out the treatment to be accorded gross income for any period before the first taxable year beginning after December 31, 1966.
Subsec. (d)(2)(B). Pub. L. 89–570 included reference to section 617(d)(1).
1964—Subsec. (b). Pub. L. 88–484 included amount of gain recognized under section 341(f).
Pub. L. 88–272 inserted reference to section 1250(a).
Subsec. (d). Pub. L. 88–484 included amount of gain recognized under section 341(f).
Pub. L. 88–272 inserted reference to section 1250(a).
1962—Subsec. (b)(1)(B). Pub. L. 87–834, § 13(f)(2), substituted “subsection (b) or (c) of section 311 or under section 1245(a)” for “subsection (b) or (c) of section 311”.
Subsec. (b)(1)(C). Pub. L. 87–834, § 5(a), added subpar. (C).
Subsec. (d)(2). Pub. L. 87–834, § 13(f)(2), substituted “subsection (b) or (c) of section 311 or under section 1245(a)” for “subsection (b) or (c) of section 311”.
Subsec. (d)(3). Pub. L. 87–834, § 5(b), added par. (3).
Subsecs. (f), (g). Pub. L. 87–403 added subsec. (f) and redesignated former subsec. (f) as (g).
Statutory Notes and Related Subsidiaries
Effective Date of 2014 Amendment
Amendment by Pub. L. 113–295 not applicable to preferred stock issued before Oct. 1, 1942 (determined in the same manner as under section 247 of this title as in effect before its repeal by Pub. L. 113–295), see section 221(a)(41)(K) of Pub. L. 113–295, set out as a note under section 172 of this title.
Except as otherwise provided in section 221(a) of Pub. L. 113–295, amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.
Effective Date of 2003 Amendment
Amendment by Pub. L. 108–27 applicable, except as otherwise provided, to taxable years beginning after Dec. 31, 2002, see section 302(f) of Pub. L. 108–27, set out as an Effective and Termination Dates of 2003 Amendment note under section 1 of this title.
Effective Date of 1988 Amendment
Amendment by section 1006(e)(10)–(12) of Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99–514, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Amendment by section 2004(j)(3)(B) of Pub. L. 100–647 effective, except as otherwise provided, as if included in the provisions of the Revenue Act of 1987, Pub. L. 100–203, title X, to which such amendment relates, see section 2004(u) of Pub. L. 100–647, set out as a note under section 56 of this title.
Effective Date of 1987 Amendment
Pub. L. 100–203, title X, § 10222(b)(2), Dec. 22, 1987, 101 Stat. 1330–411, as amended by Pub. L. 100–647, title II, § 2004(j)(4), Nov. 10, 1988, 102 Stat. 3605, provided that:
“(A) In general.— The amendment made by paragraph (1) [amending this section] shall apply to distributions after December 15, 1987. For purposes of applying such amendment to any such distribution—“(i) for purposes of determining earnings and profits, such amendment shall be deemed to be in effect for all periods whether before, on, or after December 15, 1987, but“(ii) such amendment shall not affect the determination of whether any distribution on or before December 15, 1987, is a dividend and the amount of any reduction in accumulated earnings and profits on account of any such distribution.“(B) Exception.— The amendment made by paragraph (1) shall not apply for purposes of determining gain or loss on any disposition of stock after December 15, 1987, and before January 1, 1989, if such disposition is pursuant to a written binding contract, governmental order, letter of intent or preliminary agreement, or stock acquisition agreement, in effect on or before December 15, 1987.”
Effective Date of 1986 Amendment
Pub. L. 99–514, title VI, § 612(c), Oct. 22, 1986, 100 Stat. 2251, provided that: “The amendments made by this section [amending this section and sections 584, 642, 643, 702, 854, and 857 of this title, repealing section 116 of this title, and enacting provisions set out as a note under section 584 of this title] shall apply to taxable years beginning after December 31, 1986.”
Amendment by section 1804(f)(2)(B) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Effective Date of 1984 Amendment
Amendment by section 54(b) of Pub. L. 98–369 applicable to distributions after July 18, 1984, in taxable years ending after July 18, 1984, see section 54(d)(2) of Pub. L. 98–369, set out as a note under section 311 of this title.
Pub. L. 98–369, div. A, title I, § 61(e)(4), July 18, 1984, 98 Stat. 583, provided that: “The amendment made by subsection (d) [amending this section] shall apply to distributions after the date of the enactment of this Act [July 18, 1984] in taxable years ending after such date.”
Amendment by section 712(i)(1) of Pub. L. 98–369 effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. L. 97–248, to which such amendment relates, see section 715 of Pub. L. 98–369, set out as a note under section 31 of this title.
Effective Date of 1978 Amendment
Pub. L. 95–628, § 3(d), Nov. 10, 1978, 92 Stat. 3628, provided that: “The amendments made by this section [amending this section and section 312 of this title] shall apply to distributions made after the date of the enactment of this Act [Nov. 10, 1978].”
Effective Date of 1976 Amendment
Amendment by section 205(c)(1)(B), (C) of Pub. L. 94–455 effective for taxable years ending after Dec. 31, 1975, see section 205(e) of Pub. L. 94–455, set out as an Effective Date note under section 1254 of this title.
Amendment by section 1901(a)(41), (b)(32)(A) of Pub. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as a note under section 2 of this title.
Effective Date of 1971 Amendment
Pub. L. 92–178, title III, § 312(b), Dec. 10, 1971, 85 Stat. 526, provided that: “The amendments made by subsection (a) [amending this section] shall apply with respect to distributions made after November 8, 1971.”
Effective Date of 1969 Amendment
Pub. L. 91–172, title II, § 211(c), Dec. 30, 1969, 83 Stat. 570, provided that: “The amendments made by this section [enacting section 1251 of this title and amending this section and sections 312, 341, 453, and 751 of this title] shall apply to taxable years beginning after December 31, 1969.”
Amendment by section 905(b)(2) of Pub. L. 91–172 effective with respect to distributions made after Nov. 30, 1969, see section 905(c) of Pub. L. 91–172, set out as a note under section 311 of this title.
Effective Date of 1966 Amendment
Amendment by Pub. L. 89–809 applicable with respect to taxable years beginning after Dec. 31, 1966, see section 104(n) of Pub. L. 89–809, set out as a note under section 11 of this title.
Amendment by Pub. L. 89–570 applicable to taxable years ending after Sept. 12, 1966, but only in respect of expenditures paid or incurred after such date, see section 3 of Pub. L. 89–570, set out as an Effective Date note under section 617 of this title.
Effective Date of 1964 Amendment
Pub. L. 88–484, § 2, Aug. 22, 1964, 78 Stat. 597, provided that: “The amendments made by the first section of this Act [amending this section and sections 312, 341, and 453 of this title] shall apply with respect to transactions after the date of the enactment of this Act [Aug. 22, 1964] in taxable years ending after such date.”
Amendment by Pub. L. 88–272 applicable to dispositions after Dec. 31, 1963, in taxable years ending after such date, see section 231(c) of Pub. L. 88–272, set out as an Effective Date note under section 1250 of this title.
Effective Date of 1962 Amendments
Pub. L. 87–834, § 5(d), Oct. 16, 1962, 76 Stat. 977, provided that: “The amendments made by this section [amending this section and section 245 of this title] shall apply to distributions made after December 31, 1962.”
Amendment by section 13(f)(2) of Pub. L. 87–834 applicable to taxable years beginning after Dec. 31, 1962, see section 13(g) of Pub. L. 87–834, set out as an Effective Date note under section 1245 of this title.
Pub. L. 87–403, § 2(b), Feb. 2, 1962, 76 Stat. 6, provided that: “The amendments made by this section [amending this section] shall apply only with respect to distributions made after the date of the enactment of this Act [Feb. 2, 1962].”
Study of Corporate Provisions
Pub. L. 99–514, title VI, § 634, Oct. 22, 1986, 100 Stat. 2282, directed Secretary of the Treasury or his delegate to conduct a study of proposals to reform the provisions of subchapter C of chapter 1 of the Internal Revenue Code of 1986, and not later than Jan. 1, 1988 (due date extended to Jan. 1, 1992, by Pub. L. 101–508, title XI, § 11831(b), Nov. 5, 1990, 104 Stat. 1388–559), to submit to Committee on Ways and Means of House of Representatives and Committee on Finance of Senate a report on the study conducted (together with such recommendations he deemed advisable).
Plan Amendments Not Required Until January 1, 1989
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.