(a) Initial taxes (1) On the organizationThere is hereby imposed on each political expenditure by a section 501(c)(3) organization a tax equal to 10 percent of the amount thereof. The tax imposed by this paragraph shall be paid by the organization.

described in paragraph (1) in respect of any claim shall not exceed the amount of such claim (determined without regard to subparagraph (A)). (3) Penalty treated as taxThe penalty imposed by paragraph (2) shall be assessed, collected, and paid in the same manner as taxes, as provided in section 6665(a).

dealer. (d) Cross references (1) For provisions requiring proprietors of distilled spirits plants to keep records and submit reports of receipts and dispositions of distilled spirits, see section 5207. (2) For penalty for violation of subsection (a), see

Distilled spirits for the purposes authorized in section 5214(a)(2) and (3), denatured distilled spirits, and articles, as described in this paragraph, produced or manufactured in Puerto Rico, may be brought into the United States free of any tax imposed by section 5001(a)(9) or 7652(a)(1) for disposal

taxable income of the estate shall be determined under subsection (d) of section 1. (3) Basic standard deductionIn the case of an estate which does not itemize deductions, the basic standard deduction for the estate for the taxable year shall be the same as for a married individual filing a separate return for such year.

(a) General ruleThis section applies to a partnership or S corporation for any taxable year, if— (1) an election under section 444 is in effect for the taxable year, and (2) the required payment determined under subsection (b) for such taxable year (or any preceding

(a) DefinitionsFor purposes of this subchapter— (1) Taxable chemicalExcept as provided in subsection (b), the term "taxable chemical" means any substance— (A) which is listed in the table under section 4661(b), and

(a) Exemption from taxationAn organization described in subsection (c) or (d) or section 401(a) shall be exempt from taxation under this subtitle unless such exemption is denied under section 502 or 503.

(a) In general. This section applies for purposes of determining under §1.871-7 or §1.871-8 the tax of a nonresident alien individual, or under

distribution of a controlled substance before the end of the taxable year with or within which such period ends. (3) Eligible studentFor purposes of this subsection, the term "eligible student" means, with respect to any academic period, a student who— (A) meets the requirements of section 484(a)(1) of the Higher Education

(a) In general. A transfer means a direct, indirect, or constructive transfer. (b) Indirect transfers—(1) In general. Section 1.679-3(c) shall apply to determine if a transfer to a foreign trust or foreign estate, by any

(a) In general. (1) If a taxpayer sells or exchanges stock in a foreign corporation which was a controlled foreign corporation and the Commissioner determines that the taxpayer has not established the amount of the earnings and profits of the corporation attributable to the stock under §1.1248-2

(a) Treatment of gain as ordinary incomeIn the case of a sale or exchange of property, directly or indirectly, between related persons, any gain recognized to the transferor shall be treated as ordinary income if such property is, in the hands of the transferee, of a character which is subject to the allowance for depreciation provided in

(a) General ruleFor purposes of this part, the term "dividend" shall, except as otherwise provided in this section, include only dividends described in section 316 (relating to definition of dividends for purposes of corporate distributions). (b) Distributions in liquidation

instrumentalities in generalThe legislature of any State may require any instrumentality of the United States (other than an instrumentality to which section 3306(c)(6) applies), and the individuals in its employ, to make contributions to an unemployment fund under a State unemployment compensation law approved by the Secretary of Labor under

) of— (I) taxable income computed without regard to the deductions under this section and sections 199A and 250, over (II) the amount determined under subparagraph (A). For purposes of this subtitle, the term "net operating loss deduction" means the deduction allowed by this

(b) Special rules. For rules relating to the application of section 1033 to involuntary conversions of a principal residence with respect to which an election has been made under section 121 (relating to gain from sale or exchange of residence of individual who has attained age 65), see paragraph (g) of §1.121-5. For rules applicable to involuntary

Employees' Group Life Insurance imposed after April 24, 1999, that is incurred after the date of the enactment of the Pension Protection Act of 2006, including any expenses generated by such payments, as authorized by the chief judge in a manner consistent with such payments authorized by the Judicial Conference of the United States pursuant to section 604(a)(5) of title 28, United States Code. Except as