Internal Revenue Code · 26 U.S.C.
§ 515. Taxes of foreign countries and possessions of the United States
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. § 515
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Length
- 77 words · about 1 min to read
- Cross-references
- cites 2; cited by 0 Code sections and 2 other regulations
The amount of taxes imposed by foreign countries and possessions of the United States shall be allowed as a credit against the tax of an organization subject to the tax imposed by section 511 to the extent provided in section 901; and in the case of the tax imposed by section 511, the term “taxable income” as used in section 901 shall be read as “unrelated business taxable income”.
(Aug. 16, 1954, ch. 736, 68A Stat. 176.)
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 2 other sections
- § 511 Imposition of tax on unrelated business income of charitable, etc., organizations
- § 901 Taxes of foreign countries and of possessions of United States
Cited in 2 regulations not issued under it
Where it sits in the Code
- Subtitle A Income Taxes
- Chapter 1 NORMAL TAXES AND SURTAXES
- Subchapter F Exempt Organizations
- Part III TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS
Nearby sections
- § 511 Imposition of tax on unrelated business income of charitable, etc., organizations
- § 512 Unrelated business taxable income
- § 513 Unrelated trade or business
- § 514 Unrelated debt-financed income
- § 515 Taxes of foreign countries and possessions of the United States