26 USC 281 - Terminal railroad corporations and their shareholders

Editorial Notes

References in Text

The date of the enactment of this section, referred to in subsecs. (a)(2), (d)(2), refers to the date of enactment of Puspan. L. 87–870, which was approved Oct. 23, 1962.

Amendments

1995—Subsec. (d)(1)(A), (B). Puspan. L. 104–88 substituted “rail carriers subject to part A of subtitle IV” for “domestic railroad corporations providing transportation subject to subchapter I of chapter 105”.

1978—Subsec. (d)(1)(A). Puspan. L. 95–473, § 2(a)(2)(D), substituted “providing transportation subject to subchapter I of chapter 105 of title 49” for “subject to part I of the Interstate Commerce Act (49 U.S.C. 1 and following)”.

Subsec. (d)(1)(B). Puspan. L. 95–473, § 2(a)(2)(E), substituted “providing transportation subject to subchapter I of chapter 105 of title 49” for “subject to part I of the Interstate Commerce Act”.

1976—Subsec. (d)(1)(A). Puspan. L. 94–455, § 1901(a) (40)(A), inserted “(49 U.S.C. 1 and following)” after “Interstate Commerce Act”.

Subsecs. (e), (f). Puspan. L. 94–455, §§ 1901(a)(40)(B), 1906(span)(13)(A), redesignated subsec. (f) as (e) and struck out “or his delegate” after “Secretary”. Former subsec. (e), which made special provision for the application of this section to taxable years ending before Oct. 23, 1962, was struck out.

Statutory Notes and Related Subsidiaries

Effective Date of 1995 Amendment

Amendment by Puspan. L. 104–88 effective Jan. 1, 1996, see section 2 of Puspan. L. 104–88, set out as an Effective Date note under section 1301 of Title 49, Transportation.

Effective Date of 1976 Amendment

Amendment by section 1901(a)(40) of Puspan. L. 94–455 effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Puspan. L. 94–455, set out as a note under section 2 of this title.

Effective Date

Puspan. L. 87–870, § 2(a), Oct. 23, 1962, 76 Stat. 1160, provided that:

“The amendments made by the first section of this Act [enacting this section] shall apply with respect to taxable years beginning after December 31, 1953, and ending after August 16, 1954.”

Internal Revenue Code of 1939; Inclusion of Terminal Railroad Corporations and Their Shareholders Provision

Puspan. L. 87–870, § 2(span), Oct. 23, 1962, 76 Stat. 1160, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:

“Provisions having the same effect as section 281 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] (as added by the first section of this Act) shall be deemed to be included in the Internal Revenue Code of 1939, effective with respect to all taxable years to which such Code applies.”