CHAPTER 1— NORMAL TAXES AND SURTAXES›Subchapter F— Exempt Organizations›PART III— TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS

§ 515. Taxes of foreign countries and possessions of the United States

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code) · 2026 edition · updated 2026-10-03 · United States

The amount of taxes imposed by foreign countries and possessions of the United States shall be allowed as a credit against the tax of an organization subject to the tax imposed by section 511 to the extent provided in section 901; and in the case of the tax imposed by section 511, the term “taxable income” as used in section 901 shall be read as “unrelated business taxable income”.

(Aug. 16, 1954, ch. 736, 68A Stat. 176.)

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▸Contents — 26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

26 U.S.C. Subtitle A — Income Taxes (Internal Revenue Code)

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