26 USC 875: Partnerships; beneficiaries of estates and trusts

26 USC 875: Partnerships; beneficiaries of estates and trusts Text contains those laws in effect on May 14, 2024

From Title 26-INTERNAL REVENUE CODESubtitle A-Income TaxesCHAPTER 1-NORMAL TAXES AND SURTAXESSubchapter N-Tax Based on Income From Sources Within or Without the United StatesPART II-NONRESIDENT ALIENS AND FOREIGN CORPORATIONSSubpart A-Nonresident Alien Individuals

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§875. Partnerships; beneficiaries of estates and trusts

For purposes of this subtitle-

(1) a nonresident alien individual or foreign corporation shall be considered as being engaged in a trade or business within the United States if the partnership of which such individual or corporation is a member is so engaged, and

(2) a nonresident alien individual or foreign corporation which is a beneficiary of an estate or trust which is engaged in any trade or business within the United States shall be treated as being engaged in such trade or business within the United States.

(Aug. 16, 1954, ch. 736, 68A Stat. 281 ; Pub. L. 89–809, title I, §103(e)(1), Nov. 13, 1966, 80 Stat. 1551 .)

Editorial Notes

Amendments

1966-Pub. L. 89–809 designated existing provisions as par. (1), substituted reference to nonresident alien individuals or foreign corporations for reference simply to nonresident alien individuals, and added par. (2).

Statutory Notes and Related Subsidiaries

Effective Date of 1966 Amendment

Amendment by Pub. L. 89–809 applicable with respect to taxable years beginning after Dec. 31, 1966, see section 103(n)(1) of Pub. L. 89–809, set out as a note under section 871 of this title.