Treasury Regulations (26 C.F.R.)
26 CFR § 1.904(b)-2
Special rules for application of section 904(b) to alternative minimum tax foreign tax credit.
# (a) Application of section 904(b)(2)(B) adjustments.
Section 904(b)(2)(B) shall apply for purposes of determining the alternative minimum tax foreign tax credit under section 59 (regardless of whether or not the taxpayer has made an election under section 59(a)(4)).
# (b)
Use of alternative minimum tax rates—(1) Taxpayers other than corporations. In the case of a taxpayer other than a corporation, for purposes of determining the alternative minimum tax foreign tax credit under section 59—
(i) Section 904(b)(3)(D)(i) shall be applied by using the language “section 55(b)(3)” instead of “subsection (h) of section 1”;
(ii) Section 904(b)(3)(E)(ii)(I) shall be applied by using the language “section 55(b)(1)(A)(i)” instead of “subsection (a), (b), (c), (d), or (e) of section 1 (whichever applies)”; and
(iii) Section 904(b)(3)(E)(iii)(I) shall be applied by using the language “the alternative rate of tax determined under section 55(b)(3)” instead of “the alternative rate of tax determined under section 1(h)”.
(2) Corporate taxpayers. In the case of a corporation, for purposes of determining the alternative minimum tax foreign tax credit under section 59, section 904(b)(3)(E)(ii)(II) shall be applied by using the language “section 55(b)(1)(B)” instead of “section 11(b)”.
# (c) Effective date.
This section shall apply to taxable years beginning after July 20, 2004. See § 1.904(b)-1(i) for a rule permitting taxpayers to choose to apply § 1.904(b)-1 and this § 1.904(b)-2 to taxable years ending after July 20, 2004.
[T.D. 9141, 69 FR 43316, July 20, 2004; 69 FR 61761, Oct. 21, 2004]
Source: view the official text
In this part (40 sections)
- 1.901(m)-4 · Determination of basis difference.
- 1.901(m)-5 · Basis difference taken into account.
- 1.901(m)-6 · Successor rules.
- 1.901(m)-7 · De minimis rules.
- 1.901(m)-8 · Miscellaneous.
- 1.902-0 · Outline of regulations provisions for section 902.
- 1.902-1 · Credit for domestic corporate shareholder of a foreign…
- 1.902-2 · Treatment of deficits in post-1986 undistributed earnings and…
- 1.902-3 · Credit for domestic corporate shareholder of a foreign…
- 1.902-4 · Rules for distributions attributable to accumulated profits…
- 1.903-1 · Taxes in lieu of income taxes.
- 1.904-1 · Limitation on credit for foreign income taxes.
- 1.904-2 · Carryback and carryover of unused foreign tax.
- 1.904-3 · Carryback and carryover of unused foreign tax by spouses…
- 1.904-4 · Separate application of section 904 with respect to certain…
- 1.904-5 · Look-through rules as applied to controlled foreign…
- 1.904-6 · Allocation and apportionment of foreign income taxes.
- 1.904-7 · Transition rules.
- 1.904(b)-0 · Outline of regulation provisions.
- 1.904(b)-1 · Special rules for capital gains and losses.
- 1.904(b)-2 · Special rules for application of section 904(b) to…
- 1.904(b)-3 · Disregard of certain dividends and deductions under…
- 1.904(f)-0 · Outline of regulation provisions.
- 1.904(f)-1 · Overall foreign loss and the overall foreign loss account.
- 1.904(f)-2 · Recapture of overall foreign losses.
- 1.904(f)-3 · Allocation of net operating losses and net capital losses.
- 1.904(f)-4 · Recapture of foreign losses out of accumulation…
- 1.904(f)-5 · Special rules for recapture of overall foreign losses of a…
- 1.904(f)-6 · Transitional rule for recapture of FORI and general…
- 1.904(f)-7 · Separate limitation loss and the separate limitation loss…
- 1.904(f)-8 · Recapture of separate limitation loss accounts.
- 1.904(f)-9 - 1.904(f)-11 · §§ 1.904(f)-9-1.904(f)-11 [Reserved]
- 1.904(f)-12 · Transition rules.
- 1.904(g)-0 · Outline of regulation provisions.
- 1.904(g)-1 · Overall domestic loss and the overall domestic loss…
- 1.904(g)-2 · Recapture of overall domestic losses.
- 1.904(g)-3 · Ordering rules for the allocation of net operating losses,…
- 1.904(i)-0 · Outline of regulation provisions.
- 1.904(i)-1 · Limitation on use of deconsolidation to avoid foreign tax…
- 1.904(j)-0 · Outline of regulation provisions.