26 U.S.C. § 241
Allowance of special deductions
In addition to the deductions provided in part VI (sec. 161 and following), there shall be allowed as deductions in computing taxable income the items specified in this part.
Notes of Decisions
Cited in 5
cases, 1929–2008 · leading case: Wachovia Bank of North Carolina, N.A. v. Johnson
Wachovia Bank of North Carolina, N.A. v. Johnson (2000)
“— (a)(1) Except as provided in subdivision (a)(2) or (3), “net earnings” is defined as federal taxable income before the operating loss deduction and special deductions provided for in 26 U.S.C. §§ 241 247 and 249 250, and subject to the adjustments in subsection (b).”
Dart Industries, Inc. v. Clark (1995)
“26 U.S.C. §§ 241 and 243. A corporation receiving a foreign dividend is only allowed to claim a deduction for the foreign taxes that were paid by the foreign affiliate to earn the funds represented by that dividend.”
Colgate-Palmolive Co. v. Florida Department of Revenue (2008)
“26 U.S.C. §§ 241 and 243. A corporation receiving a foreign dividend is only allowed to claim a deduction for the foreign taxes that were paid by the foreign affiliate to earn the funds represented by that dividend.”
Motlow v. United States (1929)
“(26 USCA § 241): *92 “Every person who produces distilled spirits, or who brews or makes mash, wort, or wash, fit for distillation or for the production of spirits, or who, by any process of evaporization, separates alcoholic spirit from any fermented substance, or who, making…”
Mangiaracina v. United States (1930)
“* * * ” A “distiller” is defined, 26 USCA § 241, as follows: “Every person who produces distilled spirits, or who brews or makes mash, wort, or wash, fit for distillation or for the production of spirits, or who, by any process of evaporization, separates alcoholic spirits from…”
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