1. LawStack
  2. Title 26 - Internal Revenue
  3. Subchapter A - INCOME TAX
  4. Part 1 - INCOME TAXES
  5. Supertopic - COMPUTATION OF TAXABLE INCOME
  6. Topic - Special Deductions for Corporations
  7. 26 CFR § 1.241-1
26 CFR § 1.241-1
Allowance of special deductions
June 25, 2020
CFR

A corporation, in computing its taxable income, is allowed as deductions the items specified in Part VIII (section 242 and following), Subchapter B, Chapter 1 of the Code, in addition to the deductions provided in part VI (section 161 and following) Subchapter B, Chapter 1 of the Code.

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§ 1.242-1 Deduction for partially tax-exempt interest

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