§ 859. Adoption of annual accounting period
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/usc/title-26/section-859A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General rule For purposes of this subtitle—
(1)a real estate investment trust shall not change to any accounting period other than the calendar year, and
(2)a corporation, trust, or association may not elect to be a real estate investment trust for any taxable year beginning after October 4, 1976, unless its accounting period is the calendar year.
Paragraph
(2)shall not apply to a corporation, trust, or association which was considered to be a real estate investment trust for any taxable year beginning on or before October 4, 1976.
(b)Change of accounting period without approval Notwithstanding section 442, an entity which has not engaged in any active trade or business may change its accounting period to a calendar year without the approval of the Secretary if such change is in connection with an election under section 856(c).
(Added Pub. L. 94–455, title XVI, § 1604(i)(1), Oct. 4, 1976, 90 Stat. 1752, § 860; renumbered § 859 and amended Pub. L. 95–600, title III, § 362(d)(6), title VII, § 701(t)(1), Nov. 6, 1978, 92 Stat. 2852, 2911; Pub. L. 99–514, title VI, § 661(c), Oct. 22, 1986, 100 Stat. 2300.)
Connections53 cite this · traces to 3
Cited by 53 sections · top 28
U.S. Code
CFR
- § 1.856-4Rents from real property.
- § 1.857-2Real estate investment trust taxable income and net capital gain.
- § 1.856-1Definition of real estate investment trust.
- § 1.858-1Dividends paid by a real estate investment trust after close of taxable year.
- § 1.857-6Method of taxation of shareholders of real estate investment trusts.
- § 1.856-8Revocation or termination of election.
- § 1.857-10Information returns.
- § 1.857-7Earnings and profits of a real estate investment trust.
- § 1.857-5Net income and loss from prohibited transactions.
- § 1.857-8Records to be kept by a real estate investment trust.
- § 1.856-3Definitions.
- § 1.857-3Net income from foreclosure property.
- § 1.857-4Tax imposed by reason of the failure to meet certain source-of-income requirements.
- § 1.857-1Taxation of real estate investment trusts.
- § 1.856-7Certain corporations, etc., that are considered to meet the gross income requirements.
- § 1.856-0Revenue Act of 1978 amendments not included.
- § 1.856-5Interest.
- § 1.856-6Foreclosure property.
- § 1.856-2Limitations.
- § 1.857-9Information required in returns of shareholders.
16 references not yet in our index
- Pub. L. 94–455, title XVI, § 1604(i)(1)
- 90 Stat. 1752
- Pub. L. 95–600, title III, § 362(d)(6)
- 92 Stat. 2852
- Pub. L. 99–514, title VI, § 661(c)
- 100 Stat. 2300
- Pub. L. 94–455, title XVI, § 1601(a)(1)
- 90 Stat. 1742
- Pub. L. 95–600, title VII, § 701(t)(4)
- 92 Stat. 2912
- Pub. L. 99–514
- Pub. L. 95–600, § 701(t)(1)
- section 669 of Pub. L. 99–514
- section 362(d)(6) of Pub. L. 95–600
- section 362(e) of Pub. L. 95–600
- Pub. L. 95–600, title VII, § 701(t)(5)
Citation graph
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§ 859
Adoption of annual accounting period
C.F.R.×40
U.S.C.×7
Stat.×6
Pub. L.Pub. L. 94–455, title XVI, § 1604(i)(1)
Stat.90 Stat. 1752
Pub. L.Pub. L. 95–600, title III, § 362(d)(6)
Stat.92 Stat. 2852
Pub. L.Pub. L. 99–514, title VI, § 661(c)
Cites 19 · showing 8Cited by 53 across 3 sources