Trang chủ / Bồi Thường / Subsec. (g). Pub. L. 100–647, § 1004(a)(4), substituted “indebtedness” for “indebtedness of solvent farmers” in amended and heading text generally speaking. Just before amendment, text read the following:

Subsec. (g). Pub. L. 100–647, § 1004(a)(4), substituted “indebtedness” for “indebtedness of solvent farmers” in amended and heading text generally speaking. Just before amendment, text read the following:

Subsec. (g). Pub. L. 100–647, § 1004(a)(4), substituted “indebtedness” for “indebtedness of solvent farmers” in amended and heading text generally speaking. Just before amendment, text read the following: | PJICO SÀI GÒN

“(1) as a whole. —For purposes of the area and area 1017, the release by an experienced individual of qualified farm indebtedness of the taxpayer who’s perhaps perhaps not insolvent during the time of the discharge will be addressed within the exact same way as in the event that release had happened as soon as the taxpayer had been insolvent.

“(2) Qualified farm indebtedness. —For purposes of the subsection, indebtedness of the taxpayer will be addressed as qualified farm indebtedness if—

“(A) such indebtedness ended up being incurred straight regarding the the operation because of the taxpayer for the trade or business of agriculture, and

“(B) 50 per cent or maybe more of this normal annual gross receipts associated with taxpayer when it comes to 3 taxable years preceding the taxable 12 months in that the discharge of these indebtedness does occur is due to the trade or company of agriculture.

“(3) Qualified person. —For purposes of the subsection, the expression ‘qualified person’ means an individual described in part 46(c)(8)(D)(iv). ”

1986—Subsec. (a)(1)(C). Pub. L. 99–514, § 822(a), struck down subpar. (C) concerning exclusion from revenues in the event that indebtedness released is qualified company indebtedness.

Subsec. (a)(2). Pub. L. 99–514, § 822(b)(1), substituted “Subparagraph (B) of paragraph (1)” for “Subparagraphs (B) and (C) of paragraph (1)” in subpar. (A), struck down subpar. (A) designation and going, and struck out subpar. (B) providing that insolvency exclusion takes precedence over qualified company exclusion.

Subsec. (b)(2)(B). Pub. L. 99–514, § 231(d)(3)(D), substituted “General business credit” for “Research credit and basic business credit” in heading and amended text, because amended by this Act (Pub. L. 99–514, § 1171(b)(4) (see below)), generally speaking. Ahead of amendment, text read the following: “Any carryover to or through the taxable 12 months of a release of a quantity for purposes of determining the amount allowable as a credit under—

“(i) area 30 (concerning credit for increasing research tasks), or

“(ii) area 38 (associated with basic company credit).

For purposes of the subparagraph, there shall never be taken into consideration any part of a carryover which will be owing to the worker stock ownership credit determined under area 41. ”

Pub. L. 99–514, § 1171(b)(4), hit down final phrase which was indeed eradicated by the general amendment of subpar. (B) by Pub. L. 99–514, § 231(d)(3)(D). See above.

Subsec. (b)(2)(E). Pub. L. 99–514, § 1847(b)(7), substituted “section 27” for “section 33”.

Subsec. (b)(3). Pub. L. 99–514, § 104(b)(2), substituted “33? cents” for “50 cents”.

Subsec. (c). Pub. L. 99–514, § 822(b)(2), struck down subsec. (c) associated with tax remedy for discharge of qualified business indebtedness.

Subsec. (d). Pub. L. 99–514, § 822(b)(3)(B), struck down mention of subsec. (c) in going.

Subsec. (d)(4). Pub. L. 99–514, § 822(b)(3)(A), struck down par. (4) concerning remedy for indebtedness as qualified company indebtedness.

Subsec. (d)(6), (7)(A). Pub. L. 99–514, § 822(b)(3)(B), struck away mention of the subsec. (c) in going and text.

Subsec. (d)(7)(B). Pub. L. 99–514, § 822(b)(3)(C), hit down “The preceding sentence shall maybe perhaps maybe not connect with any release towards the level that subsection (a)(1)(C) relates to such release. ”

Subsec. (d)(9)(A). Pub. L. 99–514, § 822(b)(3)(D), struck down “under paragraph (4) for this subsection or” after “An election”.

Subsec. ( ag ag e)(7)(A)(ii)(I). Pub. L. 99–514, § 805(c)(2), substituted “subsection (a) or (b) of area 166” for “subsection (a), (b), or (c) of part advance financial 166”.

Subsec. ( ag ag e)(7)(B) to (D). Pub. L. 99–514, § 805()( that is c), redesignated subpars. (C) to (E) as (B) to (D), correspondingly, and hit away subpar that is former. (B) which linked to taxpayers on book method.

Subsec. ( ag e)(7)(E), (F). Pub. L. 99–514, § 805(c)(3), (4), redesignated subpar. (F) as ( E) and substituted “the foregoing subparagraphs” for “subparagraphs (A), (B), (C), (D), and (E)”. Previous subpar. (E) redesignated (D).

Subsec. ( ag ag e)(10)(C). Pub. L. 99–514, § 621(e), repealed the amendment by Pub. L. 98–369, § 59(b)(1), which had added subpar. (C) producing an exclusion for transfers in some exercises of this satisfaction of indebtedness by corporation’s stock. See 1984 Amendment note below.

1984—Subsec. (b)(2)(B). Pub. L. 98–369, § 474(r)(5), substituted conditions concerning research credits and business that is general addressing carryovers to or through the taxable 12 months of the release of a quantity for purposes of determining the amount allowable as a credit under part 30 (associated with credit for increasing research tasks), or area 38 (associated with basic company credit), and directing that there shall never be considered any part of a carryover that is due to the worker stock ownership credit determined under part 41 for former conditions addressing carryovers to or through the taxable 12 months of this release of a quantity for purposes of determining the quantity of a credit allowable under part 38 (associated with investment in some depreciable home), area 40 (associated with costs of work incentive programs), area 44B (associated with credit for employment of particular new workers), area 44E (associated with alcohol utilized being a gas), or area 44F (associated with credit for increasing research tasks), and directing that, for purposes of clause (i), there could never be taken into consideration any part of a carryover that has been due to the worker plan credit (inside the meaning of part 48(o)(3)).

Subsec. (d)(6). Pub. L. 98–369, § 721(b)(2), hit down “or S corporation shareholder level” in going and sentence that is second supplied that “In the actual situation of a S firm, subsections (a), (b), and (c) shall use at the shareholder level.”. See par. (7)(A).

Subsec. (d)(7) to (10). Pub. L. 98–369, § 721(b)(2), included par. (7) and redesignated pars that are former. (7) to (9) as (8) to (10), respectively.

Subsec. ( ag ag ag e)(10)(C). Pub. L. 98–369, § 59(b)(1), which included subpar. (C), effective as though within the amendments produced by part 806(e) and (f) of Pub. L. 94–455, had been repealed by Pub. L. 99–514, § 621(e), (f)(2), eff. Jan. 1, 1986, with specific exceptions, see Effective Date of 1986 note that is amendment.

1982—Subsec. (d)(6). Pub. L. 97–354 inserted “or S corporation shareholder level” in going and inserted “in the event of a S business, subsections (a), (b), and c that is( will probably be applied at the shareholder degree. ”

1980—Pub. L. 96–589 totally expanded and revised conditions by indicating the kinds of indebtedness and also by aiming priorities among the list of exclusions, to mirror the modification of Title 11, Bankruptcy, in 1978.

1976—Pub. L. 94–455, § 1951(b)(2)(A), hit out “(a) Unique guideline of exclusion. —” after “Income from release of indebtedness” and struck down subsec. (b) which pertaining to discharge, termination, or modification of indebtedness of particular railroad corporations.

1960—Subsec. (b). Pub. L. 86–496 prov Jan. 1, 1960, then no quantity will be a part of revenues pertaining to it, and struck down conditions which made subsection inapplicable to discharges occurring in a year that is taxable after Dec. 31, 1957.

1956—Subsec. (b). Act June 29, 1956, replaced “ December 31, 1957 ” for “ December 31, 1955 ”.

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