Sec. 1385. Amounts includible in patron's gross income

TITLE 26, Subtitle A, CHAPTER 1, Subchapter T, PART II, Sec. 1385

Next Previous Contents Sections Search Help

SOURCE

(Added Pub. L. 87-834, Sec. 17(a), Oct. 16, 1962, 76 Stat. 1048; amended Pub. L. 89-809, title II, Sec. 211(b)(1)-(4), Nov. 13, 1966, 80 Stat. 1582; Pub. L. 94-455, title XIX, Sec. 1901(b)(3)(I), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1793, 1834.)

AMENDMENTS

  1976 - Subsec. (b). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck
out ''or his delegate'' after ''Secretary''.
  Subsec. (c)(2)(C). Pub. L. 94-455, Sec. 1901(b)(3)(I),
substituted ''ordinary income'' for ''gain from the sale or
exchange of property which is not a capital asset''.
  1966 - Subsec. (a)(3). Pub. L. 89-809, Sec. 211(b)(1), added par.
(3).
  Subsec. (c). Pub. L. 89-809, Sec. 211(b)(2)-(4), inserted ''and
certain nonqualified per-unit retain certificates'' in heading,
inserted provisions to par. (1) for the application of the
subsection to any nonqualified per-unit retain certificates which
were paid as per-unit retain allocations, and inserted references
to per-unit retain certificates in par. (2).

EFFECTIVE DATE OF 1976 AMENDMENT

  Amendment by section 1901(b)(3)(I) of Pub. L. 94-455 effective
for taxable years beginning after Dec. 31, 1976, see section
1901(d) of Pub. L. 94-455, set out as a note under section 2 of
this title.

EFFECTIVE DATE OF 1966 AMENDMENT

  Amendment by Pub. L. 89-809 applicable to per-unit retain
allocations made during taxable years of an organization described
in section 1381(a) of this title (relating to organizations to
which part I of subchapter T of chapter 1 applies) beginning after
Apr. 30, 1966, with respect to products delivered during such
years, see section 211(e)(1) of Pub. L. 89-809, set out as a note
under section 1382 of this title.

EFFECTIVE DATE

  Section applicable, except as otherwise provided, to taxable
years of organizations described in section 1381(a) of this title
beginning after Dec. 31, 1962, see section 17(c) of Pub. L. 87-834,
set out as a note under section 1381 of this title.


Web edition produced by John Walker