
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: 26USC771]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                        Subtitle A--Income Taxes
 
                  CHAPTER 1--NORMAL TAXES AND SURTAXES
 
                 Subchapter K--Partners and Partnerships
 
         PART IV--SPECIAL RULES FOR ELECTING LARGE PARTNERSHIPS
 
Sec. 771. Application of subchapter to electing large 
        partnerships
        
    The preceding provisions of this subchapter to the extent 
inconsistent with the provisions of this part shall not apply to an 
electing large partnership and its partners.

(Added Pub. L. 105-34, title XII, Sec. 1221(a), Aug. 5, 1997, 111 Stat. 
1002.)


                            Prior Provisions

    A prior section 771, act Aug. 16, 1954, ch. 736, 68A Stat. 253, 
related to the effective date for this subchapter, prior to repeal by 
Pub. L. 94-455, title XIX, Sec. 1901(a)(94), Oct. 4, 1976, 90 Stat. 
1780.


                             Effective Date

    Section 1221(c) of Pub. L. 105-34 provided that: ``The amendments 
made by this section [enacting this part] shall apply to partnership 
taxable years beginning after December 31, 1997.''
    This part applicable to partnership taxable years beginning after 
Dec. 31, 1997, see section 1226 of Pub. L. 105-34, as amended, set out 
as an Effective Date of 1997 Amendment note under section 6011 of this 
title.
