Pub. L. 119-21, tit. VII, subtit. A, ch. 3, subch. B, pt. II, sec. 70321 (as amended)
MODIFICATION OF DEDUCTION FOR FOREIGN-DERIVED DEDUCTION ELIGIBLE INCOME AND NET CFC TESTED INCOME.
SEC. 70321. MODIFICATION OF DEDUCTION FOR FOREIGN-DERIVED DEDUCTION ELIGIBLE INCOME AND NET CFC TESTED INCOME.
(a) In General.—Section 250(a) is amended—
(1) by striking “37.5 percent” in paragraph (1)(A) and inserting “33.34 percent”,
(2) by striking “50 percent” in paragraph (1)(B) and inserting “40 percent”, and
(3) by striking paragraph (3).
(b) [26 U.S.C. 250 note] Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025.
- Cross-references to the US Code
- 26 U.S.C. 250 note