yourstate.us
Home / United States / 46 U.S.C.
46 U.S.C. § 53306

Recognition of gain for tax purposes

United States · Title 46 — SHIPPING · Status: effective

Taxation
Get this as JSONEmbed this
Cite this
Citation
46 U.S.C. § 53306, Recognition of gain for tax purposes, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/488245
Permanent ID
ys:prov:488245@1
SHA-256
9e5a6bb5326faf988c0eba26df09f06e2b19a4e7281321f631368d5c29b84640

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

In this section, the terms “net proceeds” and “net indemnity” mean the sum of— In computing net income under the income or excess profits tax laws of the United States, a taxpayer does not recognize a gain on the sale or the actual or constructive total loss of a vessel if the taxpayer—

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.

  • Enacted byPub. L. 109-304(H.R. 1442)2006-10-06
    To complete the codification of title 46, United States Code, "Shipping", as positive law.
    House: no recorded tallySenate: no recorded tally