26 U.S.C. § 561
§ 561. Definition of deduction for dividends paid
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
The law as written
Current through Public Law 119-102. Amendment notes omitted.
(a) General rule
The deduction for dividends paid shall be the sum of—
(1)
the dividends paid during the taxable year,
(2)
the consent dividends for the taxable year (determined under section 565), and
(3)
in the case of a personal holding company, the dividend carryover described in section 564.
(b) Special rules applicable