Pub. L. 88–272, title II, § 235(a)78 Stat. 117Pub. L. 91–172, title IV, § 401(b)(2)(A)83 Stat. 602Section, added , , , amended , , , set limits on the privilege of groups to elect multiple surtax exemptions.
Statutory Notes and Related Subsidiaries
Effective Date of Repeal
section 401(h)(1) of Pub. L. 91–172section 1561 of this titleRepeal applicable with respect to taxable years beginning after , see , set out as an Effective Date of 1969 Amendment note under .
Retroactive Termination of Elections
Pub. L. 91–172, title IV, § 401(g)83 Stat. 604section 1562 of this titlesection 1562 of this titlesection 1562 of this title, , , authorized an affiliated group of corporations making a consolidated return for the taxable year which included , to terminate the election under with respect to any prior Dec. 31 which was included in a taxable year of any such corporations from which there was a net operating loss carryover to the 1970 consolidated return year and provided that the termination of such election was to be valid only if in accord with subsecs. (c)(1) and (e) of other than the requirement of making the termination prior to the expiration of the 3 year period specified in subsec. (e) of .