Internal Revenue Code (Title 26 U.S.C.)
26 U.S.C. § 908
Reduction of credit for participation in or cooperation with an international boycott
# (a) In general
If a person, or a member of a controlled group (within the meaning of section 993(a)(3)) which includes such person, participates in or cooperates with an international boycott during the taxable year (within the meaning of section 999(b)), the amount of the credit allowable under section 901 to such person, or under section 960 to United States shareholders of such person, for foreign taxes paid during the taxable year shall be reduced by an amount equal to the product of— (1) the amount of the credit which, but for this section, would be allowed under section 901 for the taxable year, multiplied by (2) the international boycott factor (determined under section 999).
# (b) Application with sections 275(a)(4) and 78
Section 275(a)(4) and section 78 shall not apply to any amount of taxes denied credit under subsection (a).
Source: view the official text
Nearby sections (25 sections)
- 894 · Income affected by treaty
- 895 · Income derived by a foreign central bank of issue from…
- 896 · Adjustment of tax on nationals, residents, and corporations of…
- 897 · Disposition of investment in United States real property
- 898 · Taxable year of certain foreign corporations
- 901 · Taxes of foreign countries and of possessions of United States
- 902 · [§902. Repealed. Pub. L. 115–97, title I, §14301(a), Dec. 22,…
- 903 · Credit for taxes in lieu of income, etc., taxes
- 904 · Limitation on credit
- 905 · Applicable rules
- 906 · Nonresident alien individuals and foreign corporations
- 907 · Special rules in case of foreign oil and gas income
- 908 · Reduction of credit for participation in or cooperation with an…
- 909 · Suspension of taxes and credits until related income taken into…
- 911 · Citizens or residents of the United States living abroad
- 912 · Exemption for certain allowances
- 913 · [§913. Repealed. Pub. L. 97–34, title I, §112(a), Aug. 13, 1981,…
- 921 · [§§921 to 927. Repealed. Pub. L. 106–519, §2, Nov. 15, 2000, 114…
- 931 · Income from sources within Guam, American Samoa, or the Northern…
- 932 · Coordination of United States and Virgin Islands income taxes
- 933 · Income from sources within Puerto Rico
- 934 · Limitation on reduction in income tax liability incurred to the…
- 934A · [§934A. Repealed. Pub. L. 99–514, title XII, §1275(c)(3), Oct.…
- 935 · [§935. Repealed. Pub. L. 99–514, title XII, §1272(d)(2), Oct. 22,…
- 936 · [§936. Repealed. Pub. L. 115–141, div. U, title IV,…