Internal Revenue Code

Table of Contents IRC 11(a) - Tax imposed 2 IRC 7701(a)(3) - Definitions 2 IRC 7701(a)(4) 2 IRC 7701(a)(5) 2 Reg 301-7701-3(a); 301-7701-3(b)(1); 301-7701-3(c) 2 Section 301.7701-3(a) 2 Section 301.7701-3(c) 3 IRC 243 - Dividends received by corporations 3 (a) General rule 3 (b) Qualifying dividends 3 (C) Election 5 (d) Special rules for certain distributions 5 (e) Certain dividends from foreign corporations 6 IRC 246(b), 246(c) - Rules applying to deductions for dividends received 6 (b) Limitation on aggregate amount of deductions 6 (c) Exclusion of certain dividends 6 IRC 248 - Organizational expenditures 8 (a) Election to deduct 8 (b) Organizational expenditures defined 8 (c) Time for and scope of election 8 IRC 170(a)(2), 170(b)(2), 170(d)(2) - Charitable, etc., contributions and gifts 9 (a) Allowance of deduction 9 (b) Percentage limitations 9 (d) Carryovers of excess contributions 10 IRC 291(a)(1) - Special rules relating to corporate preference items 11

IRC 11(a) - Tax imposed
(a) Corporations in general
A tax is hereby imposed for each taxable year on the taxable income of every corporation.

IRC 7701(a)(3) - Definitions
(3) Corporation
The term “corporation” includes associations, joint-stock companies, and insurance companies.

IRC 7701(a)(4)
(4) Domestic
The term “domestic” when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless, in the case of a partnership, the Secretary provides otherwise by regulations.

IRC 7701(a)(5)
(5) Foreign
The term “foreign” when applied to a corporation or partnership means a corporation or partnership which is not domestic.

Reg 301-7701-3(a); 301-7701-3(b)(1); 301-7701-3(c)
Section 301.7701-3(a) provides that a business entity that is not classified as a corporation under § 301.7701-2(b)(1), (3), (4), (5), (6), (7), or (8) (an eligible entity) can
elect