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15 U.S.C. § 383 — “Net income tax” defined

submitted 67 years ago by Pub. L. 86-272 to r/title-15-COMMERCE-AND-TRADE · 20 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section defines "net income tax" for this chapter. It means any tax imposed on, or measured by, net income.

This section gives a short definition used throughout this chapter. It says a "net income tax" is any tax that is imposed on net income, or measured by net income — that is, a tax calculated using net income as its base.
the actual law source: uscode.house.gov ↗public domain

For purposes of this chapter, the term “net income tax” means any tax imposed on, or measured by, net income.

Source credit: (Pub. L. 86–272, title I, § 103, 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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