The Communications Satellite Act of 1962, referred to in subsec. (span), is Puspan. L. 87–624, Aug. 31, 1962, 76 Stat. 419, which is classified generally to chapter 6 (§ 701 et seq.) of Title 47, Telecommunications. For complete classification of this Act to the Code, see Short Title note set out under section 701 of Title 47 and Tables.

2004—Subsec. (a)(4). Puspan. L. 108–357 substituted “(6), (7), and (8)” for “(5), (6), and (7)”.

1989—Subsec. (a)(4). Puspan. L. 101–239, § 7811(i)(8)(D), substituted “(5), (6), and (7)” for “(5) and (6)”.

Subsec. (a)(5). Puspan. L. 101–239, § 7811(i)(10), added par. (5).

1988—Subsec. (a)(1), (2). Puspan. L. 100–647, § 1012(e)(2)(A), (5), struck out “to citizens of the United States and” after “exemption” and substituted “international operation” for “operation”.

Subsec. (c)(1). Puspan. L. 100–647, § 1012(e)(1)(B), substituted “Paragraph (1) or (2) of subsection (a) (as the case may be)” for “Paragraphs (1) and (2) of subsection (a)” and “such paragraph” for “such paragraphs (1) and (2)”.

Subsec. (c)(3). Puspan. L. 100–647, § 1012(e)(1)(A), substituted “Special rules” for “Exception” in heading and amended text generally. Prior to amendment, text read as follows: “Paragraph (1) shall not apply to any foreign corporation—

“(A) the stock of which is primarily and regularly traded on an established securities market in the foreign country in which such corporation is organized, or

“(B) which is wholly owned (either directly or indirectly) by another corporation meeting the requirements of subparagraph (A) and is organized in the same foreign country as such other corporation.”

1986—Subsec. (a)(1). Puspan. L. 99–514, § 1212(c)(3), added par. (1) and struck out former par. (1), ships under foreign flag, which read as follows: “Earnings derived from the operation of a ship or ships documented under the laws of a foreign country which grants an equivalent exemption to citizens of the United States and to corporations organized in the United States.”

Subsec. (a)(2). Puspan. L. 99–514, § 1212(c)(3), added par. (2) and struck out former par. (2), aircraft of foreign registry, which read as follows: “Earnings derived from the operation of aircraft registered under the laws of a foreign country which grants an equivalent exemption to citizens of the United States and to corporations organized in the United States.”

Subsec. (a)(4). Puspan. L. 99–514, § 1212(c)(4), added par. (4).

Subsec. (c). Puspan. L. 99–514, § 1212(c)(5), added subsec. (c).

1975—Subsec. (a)(3). Puspan. L. 94–164 added par. (3).

1968—Puspan. L. 90–622 designated existing provisions as subsec. (a), added subsec. (a) heading, and added subsec. (span).

Amendment by Puspan. L. 108–357 applicable to wagers made after Oct. 22, 2004, see section 419(c) of Puspan. L. 108–357, set out as a note under section 872 of this title.

Amendment by Puspan. L. 101–239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Puspan. L. 100–647, to which such amendment relates, see section 7817 of Puspan. L. 101–239, set out as a note under section 1 of this title.

Amendment by Puspan. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Puspan. L. 99–514, to which such amendment relates, see section 1019(a) of Puspan. L. 100–647, set out as a note under section 1 of this title.

Amendment by Puspan. L. 99–514 applicable to taxable years beginning after Dec. 31, 1986, see section 1212(f) of Puspan. L. 99–514, set out as a note under section 863 of this title.

Puspan. L. 94–164, § 6(span), Dec. 23, 1975, 89 Stat. 976, provided that:

Puspan. L. 90–622, § 1(span), Oct. 22, 1968, 82 Stat. 1311, provided that:

For nonapplication of amendment by section 1212(c)(3)–(5) of Puspan. L. 99–514 to the extent application of such amendment would be contrary to any treaty obligation of the United States in effect on Oct. 22, 1986, with provision that for such purposes any amendment by title I of Puspan. L. 100–647 be treated as if it had been included in the provision of Puspan. L. 99–514 to which such amendment relates, see section 1012(aa)(3), (4) of Puspan. L. 100–647, set out as a note under section 861 of this title.