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26 U.S.C. § 1358

Allocation of credits, income, and deductions

United States · Title 26 — INTERNAL REVENUE CODE · Status: effective

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26 U.S.C. § 1358, Allocation of credits, income, and deductions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/463036
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For purposes of this chapter, the qualifying shipping activities of an electing corporation shall be treated as a separate trade or business activity distinct from all other activities conducted by such corporation. Section 482 applies in accordance with this subsection to a transaction or series of transactions—

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.