§1051 — Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(78), Dec. 19, 2014, 128 Stat. 4049]

29 cases·2 followed·2 distinguished·25 cited—7% support

Statute Text — 26 U.S.C. §1051

[§ 1051. Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(78), Dec. 19, 2014, 128 Stat. 4049] Section, Aug. 16, 1954, ch. 736, 68A Stat. 310; Pub. L. 94–455, title XIX, §§ 1901(a)(131), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1786, 1834, related to property acquired by a corporation during affiliation. Statutory Notes and Related Subsidiaries Effective Date of RepealRepeal effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as an Effective Date of 2014 Amendment note under section 1 of this title.

Treasury Regulations

Treas. Reg. §Treas. Reg. §1.1051-1 Basis of property acquired during affiliation
Treas. Reg. §Treas. Reg. §1.1051-1(a) §1.1051-1(a)
Treas. Reg. §Treas. Reg. §1.1051-1(b) The basis of property acquired by a corporation during any period, in the taxable year 1929 or any subsequent taxable year, in respect of which a consolidated return was made or was required under the regulations governing the making of consolidated returns, shall be determined in accordance with such regulations.
Treas. Reg. §Treas. Reg. §1.1051-1(c) Except as otherwise provided in the regulations promulgated under section 1502 of the Internal Revenue Code of 1954 or the regulations under section 141 of the Internal Revenue Code of 1939 or the Revenue Act of 1938 (52 Stat.

29 Citing Cases

Thomas G. Wright and Estate of Rosemary K. Wright, Deceased; Thomas G. Wright, Personal Representative, Petitioners T.C. Memo. 2005-5 · 2005

The issues for decision are: (1) Whether, pursuant to section 1051, 104(a)(3), or 72 petitioners may exclude from gross income a portion of payments received by Thomas G.

Electronic Arts, Inc. and Subsidiaries, Petitioner 118 T.C. No. 13 · 2002

scussion of the term “manufactured or produced”. - 29 - foreign-source income. In the Tax Reform Act of 1976, the Congress eliminated the exemption and in its place enacted the credit mechanism of section 936. Tax Reform Act of 1976, Pub.L. 94-455, sec. 1051, 90 Stat. 1520, 1643. Section 936 uses, and each of these predecessors used, the term “active conduct of a trade or business”. See MedChem (P.R.), Inc. v. Commissioner, 116 T.C. at 333-336. Also in accordance with the general interpretation

Electronic Arts Puerto Rico, Inc., Petitioner 118 T.C. No. 13 · 2002

MedChem (P.R.) Inc., Petitioner 116 T.C. No. 25 · 2001

1643, Congress revised the prior law in order to provide - 40 - for a more efficient system exempting possessions corporations so that the possessions would not lose a significant source of capital. See Coca-Cola Co. & Subs. v. Commissioner, supra at 22. In place of the exemption mechanism contained in section 931, Congress ena

Alfred E. Gallade, Petitioner 106 T.C. No. 20 · 1996

1051(2) (1994); see also Modzelewski v. Resolution Trust Corp., 14 F.3d 1374, 1377 n.3 (9th Cir. 1994) (referring to the characteristics of a “top hat” plan). However, the plan under consideration is overfunded and covers both petitioner and rank and file employees. Therefore, whether petitioner’s waiver was knowingly or voluntarily made is of

The Coca-Cola Company and Includible Subsidiaries, Petitioner 106 T.C. No. 1 · 1996

1643. Congressional intent for section 931 and its predecessors consistently has been the encouragement of American business investments in possessions of the United States. American - 33 - companies operating in the possessions originally were subjected to double taxation by the imposition of both the Federal corporate income

Nichols Ex Rel. Alcatel Network Systems Salaried Retirees Benefit Program v. Alcatel USA, Inc. 532 F.3d 364 · Cir.

Lampkins v. Golden 28 F. App'x 409 · Cir.

Henry C. Beck Builders, Inc. v. Commissioner 41 T.C. 616 · 1964

Gallade v. Commissioner 106 T.C. 355 · 1996

G.D. Searle & Co. v. Commissioner 88 T.C. 252 · 1987

Zuanich v. Commissioner 77 T.C. 428 · 1981

Baan v. Commissioner 45 T.C. 71 · 1965

Ferebee v. Commissioner 39 T.C. 801 · 1963

The Last Best Beef, LLC v. Dudas 506 F.3d 333 · Cir.

Derek Kramer v. Am. Electric Power Exec. Severance Plan 128 F.4th 739 · Cir.

United States v. Morgan · Cir.

Battoni v. IBEW Local Union No. 102 Employee Pension Plan 594 F.3d 230 · Cir.

Medchem (P.R.), Inc. v. Commissioner 295 F.3d 118 · Cir.

Campbell v. BankBoston, N.A. 327 F.3d 1 · Cir.

Garratt, Reg G. v. Knowles, James E. 245 F.3d 941 · Cir.

Jay Isaac Hollis v. Loretta Lynch 827 F.3d 436 · Cir.

United States v. Jane Boyd 991 F.3d 1077 · Cir.

Donna Browe v. CTC Corp. · Cir.

Reg G. Garratt v. James E. Knowles, Nancy Knowles, Charles L. Knowles, Katherine Knowles Strasburg, Margaret Knowles Schink, E. Lawrence Keyes, R. Euguene Goodson, Defrees & Fisk and John W. Hupp 245 F.3d 941 · Cir.

Harrods Limited v. Sixty Internet Domain Names 302 F.3d 214 · Cir.

Eastman Kodak Company v. Stwb, Inc. 452 F.3d 215 · Cir.

Eastman Kodak Co. v. STWB, Inc. 452 F.3d 215 · Cir.

American Petroleum Institute v. Roy Cooper, III 718 F.3d 347 · Cir.