U.S.C. Title 26 - INTERNAL REVENUE CODE 26 U.S.C. United States Code, 2024 Edition Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter B - Computation of Taxable Income PART VIII - SPECIAL DEDUCTIONS FOR CORPORATIONS Sec. 242 - Repealed. Pub. L. 94-455, title XIX, §1901(a)(33), Oct. 4, 1976, 90 Stat. 1769 From the U.S. Government Publishing Office, www.gpo.gov [§242. Repealed. Pub. L. 94–455, title XIX, §1901(a)(33), Oct. 4, 1976, 90 Stat. 1769] Section, acts Aug. 16, 1954, ch. 736, 68A Stat. 72; Feb. 26, 1964, Pub. L. 88–272, title I, §123(c), 78 Stat. 30, allowed to corporations as a deduction the amount received as interest on obligations of the United States or on obligations of corporations organized under Acts of Congress which are instrumentalities of the United States under certain conditions. Statutory Notes and Related Subsidiaries Effective Date of Repeal Repeal effective for taxable years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94–455, set out as an Effective Date of 1976 Amendment note under section 2 of this title.
26 U.S.C. § 242
[§242. Repealed. Pub. L. 94–455, title XIX, §1901(a)(33), Oct. 4, 1976, 90 Stat. 1769]
Edition 2024