Reg. § 1.955-0 Effective dates.
(a) Section 955 as in effect before the enactment of the Tax Reduction Act of 1975
(1) In general In general, through are applicable with respect to withdrawals of previously excluded subpart F income from qualified investment in less developed countries for taxable years of foreign corporations beginning after December 31, 1962, and to taxable years of United States shareholders (as defined in section ) within which or with which such taxable years of such foreign corporations end. However, such sections are effective with respect to withdrawals of amounts invested in less developed country shipping companies described in section (as in effect before the enactment of the Tax Reduction Act of 1975) only for taxable years of foreign corporations beginning before January 1, 1976, and for taxable years of United States shareholders (as defined in section ) within which or with which such taxable years of such foreign corporations end. For rules applicable to withdrawals of amounts invested in less developed country shipping companies described in section (as in effect before such enactment), in taxable years of foreign corporations beginning after December 31, 1975, see section (as amended by such Act) and through .
(2) References Except as otherwise provided therein, all references contained in through to section or or to the regulations under section are to those sections and regulations as in effect before the enactment of the Tax Reduction Act of 1975. For regulations under section (as in effect before such enactment), see through (Revised as of April 1, 1975). For taxable years of foreign corporations beginning after December 31, 1975, and for taxable years of United States shareholders (as described in section ) within which or with which such taxable years of such foreign corporations end, the definitions of less developed countries and less developed country corporations contained in section (as amended by such Act) and apply for purposes of determining the credit for corporate stockholders in foreign corporations under section .
(b) Section 955 as amended by the Tax Reduction Act of 1975 Except as otherwise provided therein, through are applicable to taxable years of foreign corporations beginning after December 31, 1975, and to taxable years of United States shareholders (as defined in section ) within which or with which such taxable years of such foreign corporations end.
[T.D. 7893, 48 FR 22508, May 19, 1983, as amended by T.D. 7894, 48 FR 22529, May 19, 1983]