26 U.S.C. § 591
Deduction for dividends paid on deposits
# (a) In general
In the case of mutual savings banks, cooperative banks, domestic building and loan associations, and other savings institutions chartered and supervised as savings and loan or similar associations under Federal or State law, there shall be allowed as deductions in computing taxable income amounts paid to, or credited to the accounts of, depositors or holders of accounts as dividends or interest on their deposits or withdrawable accounts, if such amounts paid or credited are withdrawable on demand subject only to customary notice of intention to withdraw.
# (b) Mutual savings bank to include certain banks with capital stock
For purposes of this part, the term “mutual savings bank” includes any bank— (1) which has capital stock represented by shares, and (2) which is subject to, and operates under, Federal or State laws relating to mutual savings bank.
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Cited by 21
- 26 CFR § 1.1381-1 — Organizations to which part applies.
- 26 CFR § 1.243-2 — Special rules for certain distributions.
- 26 CFR § 1.382-2T — Definition of ownership change under section 382, as amended by the Tax Reform Act of 1986 (temporary).
- 26 CFR § 1.56(g)-1 — Adjusted current earnings.
- 26 CFR § 1.581-2 — Mutual savings banks, building and loan associations, and cooperative banks.
- 26 CFR § 1.591-1 — Deduction for dividends paid on deposits.
- 26 CFR § 1.7872-5T — Exempted loans (temporary).
- 26 CFR § 1.861-11T — Special rules for allocating and apportioning interest expense of an affiliated group of corporations (temporary).
- 26 CFR § 1.861-2 — Interest.
- 26 CFR § 301.6311-1 — Payment by check or money order.
- 26 CFR § 301.7701-13 — Pre-1970 domestic building and loan association.
- 26 CFR § 301.7701-13A — Post-1969 domestic building and loan association.
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- 26 CFR § 301.9100-8 — Time and manner of making certain elections under the Technical and Miscellaneous Revenue Act of 1988.
- 26 U.S.C. § 1 — Tax imposed
- 26 U.S.C. § 165 — Losses
- 26 U.S.C. § 243 — Dividends received by corporations
- 26 U.S.C. § 465 — Deductions limited to amount at risk
- 26 U.S.C. § 501 — Exemption from tax on corporations, certain trusts, etc.
- 26 U.S.C. § 582 — Bad debts, losses, and gains with respect to securities held by financial institutions
- 26 U.S.C. § 593 — Reserves for losses on loans
- 26 U.S.C. § 871 — Tax on nonresident alien individuals
Nearby sections (25 sections)
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- 591 · Deduction for dividends paid on deposits
- 592 · Repealed. Pub. L. 94–455, title XIX, § 1901(a)(83), Oct. 4, 1976,…
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