as provided in chapter 1 but without regard to the carryback of any net operating loss or net capital loss and without regard to this section) which is attributable to the operation of the agreement vessels in the foreign or domestic commerce of the United States or in the fisheries of the United States, (B) the amount allowable as a deduction under section 167 for

(a) Taxable transfers (1) General ruleA tax, computed as provided in section 2502, is hereby imposed for each calendar year on the transfer of property by gift during such calendar year by any individual resident or nonresident. (2) Transfers of

(a) In general. Section 4943 and §§53.4943-1 through 53.4943-11 shall take effect for taxable years beginning after December 31, 1969, except as otherwise provided by such sections. (b) Special transitional rule. In the case of any acquisition of excess

(a) General. The appropriate TTB officer may authorize the establishment and operation of experimental plants for specific and limited periods of time solely for experimentation in, or development of: (1) Sources of materials from which spirits may be produced; (2) Processes by which spirits may be produced or refined; or (3

allowed. (3) Reductions in unearned premium reserves not to applySubparagraph (B) of paragraph (4) of section 832(b) shall be applied by substituting "100 percent" for "80 percent", and subparagraph (C) of such paragraph (4) shall not apply. (b) Amount of deduction (1

(a) Tax imposedThere is hereby imposed a tax equal to the product of the rate of tax under section 11 and the sum of— (1) so much of the remuneration paid (other than any excess parachute payment) by an applicable tax-exempt organization for the taxable year with respect to employment of any covered

(A) the undistributed net investment income for such taxable year, or (B) the excess (if any) of— (i) the adjusted gross income (as defined in section 67(e)) for such taxable year, over (ii) the dollar amount at which the highest tax bracket in

(a) Criminal penalties. Criminal penalties for failure to comply with the requirements of this part are imposed by 26 U.S.C. 5603 and 5687. A failure to register as required by this part may result in a penalty under 26 U.S.C. 5603(b).

(a) General ruleThe accumulated earnings tax imposed by section 531 shall apply to every corporation (other than those described in subsection (b)) formed or availed of for the purpose of avoiding the income tax with respect to its shareholders or the shareholders of any other corporation, by permitting earnings and profits to

(a) General ruleFor purposes of the tax determined under section 667(a)— (1) Interest determined using underpayment ratesThe interest charge determined under this section with respect to any distribution is the amount of interest which would be determined on the partial tax computed