26 USC 277 - Deductions incurred by certain membership organizations in transactions with members

Editorial Notes

References in Text

The Securities Exchange Act of 1934, referred to in subsec. (span)(3), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables.

The Commodity Exchange Act, referred to in subsec. (span)(3), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables.

Amendments

2014—Subsec. (a). Puspan. L. 113–295 struck out “, 244,” after “sections 243”.

1986—Subsec. (span)(4). Puspan. L. 99–514 added par. (4).

1976—Subsec. (a). Puspan. L. 94–568 provided that the deductions provided by sections 243, 244, and 245 (relating to dividends received by corporations) shall not be allowed to any organization to which this section applies for the taxable year.

Statutory Notes and Related Subsidiaries

Effective Date of 2014 Amendment

Amendment by Puspan. 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 Puspan. L. 113–295), see section 221(a)(41)(K) of Puspan. L. 113–295, set out as a note under section 172 of this title.

Except as otherwise provided in section 221(a) of Puspan. L. 113–295, amendment by Puspan. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(span) of Puspan. L. 113–295, set out as a note under section 1 of this title.

Effective Date of 1986 Amendment

Puspan. L. 99–514, title XVI, § 1604(span), Oct. 22, 1986, 100 Stat. 2769, provided that:

“The amendment made by this section [amending this section] shall apply to taxable years beginning after the date of the enactment of this Act [Oct. 22, 1986].”

Effective Date of 1976 Amendment

Amendment by Puspan. L. 94–568 applicable to taxable years beginning after Oct. 20, 1976, see section 1(d) of Puspan. L. 94–568, set out as a note under section 501 of this title.

Effective Date

Section applicable to taxable years beginning after Dec. 31, 1970, see section 121(g) of Puspan. L. 91–172, set out as an Effective Date of 1969 Amendment note under section 511 of this title.