26 C.F.R. § 1.960-7 Effective dates.
Title 26 - Internal Revenue
(a) General rule. Except as provided in paragraph (b), the rules contained in §§1.960–1—1.960–6 shall apply to taxable years of foreign corporations beginning after December 31, 1962, and taxable years of U.S. corporate shareholders within which or with which the taxable year of such foreign corporation ends. (b) Exception for less developed country corporations. If for any taxable year beginning after December 31, 1962, and before January 1, 1976, a first-tier foreign corporation qualified as a less developed country corporation as defined in 26 CFR 1.902–2 revised as of April 1, 1978, the rules pertaining to less developed country corporations contained in 26 CFR 1.960–1—1.960–6 revised as of April 1, 1978, shall apply to any amounts required to be included in gross income under section 951 for such taxable year. (c) Third-tier credit. The rules contained in §§1.960–1—1.960–6 shall apply to amounts included in the gross income of a domestic corporation under section 951 with respect to the earnings and profits of third-tier corporations (as defined in §1.960–1) in taxable years beginning after December 31, 1976. [T.D. 7649, 44 FR 60089, Oct. 18, 1979, as amended by T.D. 7843, 47 FR 50484, Nov. 8, 1982]
Title 26: Internal Revenue
PART 1—INCOME TAXES
controlled foreign corporations
§ 1.960-7 Effective dates.
