Section 921, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 985, provided for exclusion from gross income of exempt foreign trade income.

A prior section 921, acts Aug. 16, 1954, ch. 736, 68A Stat. 290; Oct. 4, 1976, Pub. L. 94-455, title XIX, Section 1901(a)(116), 90 Stat. 1784, defined Western Hemisphere trade corporation, prior to repeal by Pub. L. 94-455, title X, Section 1052(b), Oct. 4, 1976, 90 Stat. 1648, effective with respect to taxable years beginning after Dec. 31, 1979.

Section 922, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 986, defined FSC's.

A prior section 922, acts Aug. 16, 1954, ch. 736, 68A Stat. 291; Dec. 10, 1971, Pub. L. 92-178, title V, Section 502(c), 85 Stat. 550; Oct. 4, 1976, Pub. L. 94-455, title X, Section 1052(a), (c)(1), 90 Stat. 1647, 1648; Nov. 6, 1978, Pub. L. 95-600, title III, Section 301(b)(15), 92 Stat. 2822, related to a special deduction for a Western Hemisphere trade corporation, prior to repeal by Pub. L. 94-455, title X, Section 1052(b), Oct. 4, 1976, 90 Stat. 1648, effective with respect to taxable years beginning after Dec. 31, 1979.

Section 923, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 986; amended Pub. L. 99-514, title XVIII, Section 1876(b)(3), Oct. 22, 1986, 100 Stat. 2898, related to exempt foreign trade income.

Section 924, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 987; amended Pub. L. 99-514, title XVIII, Section 1876(e)(2), (l), Oct. 22, 1986, 100 Stat. 2899, 2901, related to foreign trading gross receipts.

Section 925, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 990, related to transfer pricing rules.

Section 926, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 991, related to distributions to shareholders.

Section 927, added Pub. L. 98-369, div. A, title VIII, Section 801(a), July 18, 1984, 98 Stat. 991; amended Pub. L. 99-514, title XVIII, Section 1876(a)(1), (e)(1), (f)(1), (p)(5), Oct. 22, 1986, 100 Stat. 2897, 2899, 2902; Pub. L. 100-647, title I, Section 1012(bb)(8)(A), Nov. 10, 1988, 102 Stat. 3536; Pub. L. 101-508, title XI, Section 11704(a)(10), Nov. 5, 1990, 104 Stat. 1388-518; Pub. L. 103-66, title XIII, Section 13239(a), Aug. 10, 1993, 107 Stat. 509; Pub. L. 105-34, title XI, Section 1171(a), Aug. 5, 1997, 111 Stat. 987, related to other definitions and special rules.

Effective Date of Repeal

Repeal applicable to transactions after Sept. 30, 2000, with special rules relating to existing foreign sales corporations, see section 5 of Pub. L. 106-519, set out as an Effective Date of 2000 Amendments note under section 56 of this title.

Subpart D - Possessions of the United States

Sec.

931.

Income from sources within Guam, American Samoa, or the Northern Mariana Islands.

932.

Coordination of United States and Virgin Islands income taxes.

933.

Income from sources within Puerto Rico.

934.

Limitation on reduction in income tax liability incurred to the Virgin Islands.

[934A, 935. Repealed.]

936.

Puerto Rico and possession tax credit.\1\

N

Editorially supplied. Section 936 added by Pub. L. 94-455 without corresponding amendment of subpart analysis.

937.

Residence and source rules involving possessions.

Amendments

2004 - Pub. L. 108-357, title VIII, Section 908(c)(6), Oct. 22, 2004, 118 Stat. 1657, added item 937.

1986 - Pub. L. 99-514, title XII, Sections 1272(d)(12), 1274(d), 1275(c)(8), Oct. 22, 1986, 100 Stat. 2595, 2598, 2599, substituted "Guam, American Samoa, or the Northern Mariana Islands" for "possessions of the United States" in item 931, added item 932, and struck out former item 932 "Citizens of possessions of the United States", item 934A "Income tax rate on Virgin Islands source income" and item 935 "Coordination of United States and Guam individual income taxes".

1983 - Pub. L. 97-455, Section 1(d)(1), Jan. 12, 1983, 96 Stat. 2498, added item 934A.

1972 - Pub. L. 92-606, Section 1(f)(5), Oct. 31, 1972, 86 Stat. 1497, added item 935.

1960 - Pub. L. 86-779, Section 4(a)(2), Sept. 14, 1960, 74 Stat. 999, added item 934.