
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC515]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                   Subchapter F--Exempt Organizations
 
  PART III--TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS
 
Sec. 515. Taxes of foreign countries and possessions of the 
        United States
        
    The amount of taxes imposed by foreign countries and possessions of 
the United States shall be allowed as a credit against the tax of an 
organization subject to the tax imposed by section 511 to the extent 
provided in section 901; and in the case of the tax imposed by section 
511, the term ``taxable income'' as used in section 901 shall be read as 
``unrelated business taxable income''.

(Aug. 16, 1954, ch. 736, 68A Stat. 176.)
