§ 561 Definition of deduction for dividends paid
(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 ), and
(3) in the case of a personal holding company, the dividend carryover described in section .
(b) Special rules applicable
In determining the deduction for dividends paid, the rules provided in section (relating to rules applicable in determining dividends eligible for dividends paid deduction) and section (relating to dividends paid after the close of the taxable year) shall be applicable.
(Aug. 16, 1954, ch. 736, 68A Stat. 198; Pub. L. 87–403, § 3(f), Feb. 2, 1962, 76 Stat. 8; Pub. L. 94–455, title XIX, § 1901(b)(32)(H), Oct. 4, 1976, 90 Stat. 1800.)
Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 561