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15 U.S.C. § 382 — Assessment of net income taxes

submitted 67 years ago by Pub. L. 86-272 to r/title-15-COMMERCE-AND-TRADE · 155 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law stops states from assessing certain old net income taxes on interstate commerce income after September 14, 1959. It applies when a later tax on that same income would be blocked by section 381. It doesn't undo tax collections that already happened by that date.

(a) Limitations. After September 14, 1959, no state or local government can assess a net income tax on income a person earned from interstate commerce, if that tax was for a tax year ending on or before that date — but only if a tax for a later year on the same income would be barred by section 381. (b) Collections. Subsection (a) does not change two things: (1) it doesn't cancel any net income tax that was already collected, on or before September 14, 1959, for a tax year ending on or before that date; and (2) it doesn't stop collection, after September 14, 1959, of any net income tax that was assessed on or before that date, for a tax year ending on or before that date.
the actual law source: uscode.house.gov ↗public domain
(a) Limitations

No State, or political subdivision thereof, shall have power to assess, after September 14, 1959, any net income tax which was imposed by such State or political subdivision, as the case may be, for any taxable year ending on or before such date, on the income derived within such State by any person from interstate commerce, if the imposition of such tax for a taxable year ending after such date is prohibited by section 381 of this title.

(b) Collections

The provisions of subsection (a) shall not be construed—

(1)

to invalidate the collection, on or before September 14, 1959, of any net income tax imposed for a taxable year ending on or before such date, or

(2)

to prohibit the collection, after September 14, 1959, of any net income tax which was assessed on or before such date for a taxable year ending on or before such date.

Source credit: (Pub. L. 86–272, title I, § 102, Sept. 14, 1959, 73 Stat. 556.)

history & why it existsrecord from the source credit
  • 1959Enacted · Pub. L. 86-272 · 73 Stat. 556

A history note hasn’t been published yet. The record shows enactment by Pub. L. 86-272 on 1959-09-14.

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