# 26 U.S.C. § 515: Taxes of foreign countries and possessions of the United States

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s515>. Cite pinpoints as 26 U.S.C. § 515(a)(1).

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”.

## Connections

Cites: § 511 Imposition of tax on unrelated business income of charitable, etc., organizations; § 901 Taxes of foreign countries and of possessions of United States

Cited by: none

Derived from: 1939 § 422(b); 1939 § 423; 1939 § 424

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 176