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16 U.S.C. § 1112 — Tax treatment of any gift, devise or bequest to the Commission

submitted 62 years ago by Pub. L. 88-363 to r/title-16-CONSERVATION · 91 words · no verdicts yet

in plain englishAI-generated · not legal advice

For Federal income, estate, and gift taxes, an accepted gift, devise, or bequest to or for the Commission is treated as one to or for the United States. This treatment does not apply if Canadian tax law allows it to be deducted as a gift to or for Canada.

to Federal income, estate, and gift taxes, any gift, devise, or bequest to or for the use of the Commission, and accepted by the Commission under authority of this chapter, must be deemed to be a gift, devise, or bequest to or for the use of the United States, as the case may be, if it is not deducted as a gift, devise, or bequest to or for the use of the Government of Canada under the income, estate, or gift tax laws of the Government of Canada.
the actual law source: uscode.house.gov ↗public domain

For the purpose of Federal income, estate, and gift taxes, any gift, devise, or bequest to or for the use of the Commission, and accepted by the Commission under authority of this chapter, shall be deemed to be a gift, devise, or bequest to or for the use of the United States, as the case may be, if it is not deducted as a gift, devise, or bequest to or for the use of the Government of Canada under the income, estate, or gift tax laws of the Government of Canada.

Source credit: (Pub. L. 88–363, § 13, July 7, 1964, 78 Stat. 301.)

history & why it existsrecord from the source credit
  • 1964Enacted · Pub. L. 88-363 · 78 Stat. 301

A history note hasn’t been published yet. The record shows enactment by Pub. L. 88-363 on 1964-07-07.

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