
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC482]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
       Subchapter E--Accounting Periods and Methods of Accounting
 
                          PART III--ADJUSTMENTS
 
Sec. 482. Allocation of income and deductions among taxpayers

    In any case of two or more organizations, trades, or businesses 
(whether or not incorporated, whether or not organized in the United 
States, and whether or not affiliated) owned or controlled directly or 
indirectly by the same interests, the Secretary may distribute, 
apportion, or allocate gross income, deductions, credits, or allowances 
between or among such organizations, trades, or businesses, if he 
determines that such distribution, apportionment, or allocation is 
necessary in order to prevent evasion of taxes or clearly to reflect the 
income of any of such organizations, trades, or businesses. In the case 
of any transfer (or license) of intangible property (within the meaning 
of section 936(h)(3)(B)), the income with respect to such transfer or 
license shall be commensurate with the income attributable to the 
intangible.

(Aug. 16, 1954, ch. 736, 68A Stat. 162; Pub. L. 94-455, title XIX, 
Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 99-514, title 
XII, Sec. 1231(e)(1), Oct. 22, 1986, 100 Stat. 2562.)


                               Amendments

    1986--Pub. L. 99-514 inserted at end ``In the case of any transfer 
(or license) of intangible property (within the meaning of section 
936(h)(3)(B)), the income with respect to such transfer or license shall 
be commensurate with the income attributable to the intangible.''
    1976--Pub. L. 94-455 struck out ``or his delegate'' after 
``Secretary''.


                    Effective Date of 1986 Amendment

    Amendment by Pub. L. 99-514 applicable to taxable years beginning 
after Dec. 31, 1986, but only with respect to transfers after Nov. 16, 
1985, or licenses granted after such date, or before such date with 
respect to property not in existence or owned by the taxpayer on such 
date, except that for purposes of section 936(h)(5)(C) of this title, 
such amendment applicable to taxable years beginning after Dec. 31, 
1986, without regard to when the transfer or license was made, see 
section 1231(g)(2) of Pub. L. 99-514, set out as a note under section 
936 of this title.


                               Regulations

    For requirement that, not later than 180 days after July 18, 1984, 
the Secretary of the Treasury modify the safe harbor interest rates 
applicable under the regulations prescribed under this section so that 
such rates are consistent with the rates applicable under section 483 of 
this title by reason of the amendments made by Pub. L. 98-369, see 
section 44(b)(2) of Pub. L. 98-369, set out as an Effective Date note 
under section 1271 of this title.


         Study of Application and Administration of This Section

    Pub. L. 101-508, title XI, Sec. 11316, Nov. 5, 1990, 104 Stat. 1388-
458, directed Secretary of the Treasury or his delegate to conduct a 
study of the application and administration of section 482 of the 
Internal Revenue Code of 1986 and not later than Mar. 1, 1992, submit to 
Committee on Ways and Means of House of Representatives and Committee on 
Finance of Senate a report on the study, together with such 
recommendations as he deemed advisable.

                  Section Referred to in Other Sections

    This section is referred to in sections 845, 857, 901, 936, 941, 
994, 1059A, 1505, 6038A, 6038B, 6662 of this title; title 17 section 
1001.
