separately computed taxable income
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 1503 — for purposes of this section
The term “separately computed taxable income” means the separate taxable income of the subsidiary for the taxable year determined—
(i) by taking into account gains and losses from the sale or exchange of a capital asset and section 1231 gains and losses,
(ii) without regard to any net operating loss or capital loss carryover or carryback, and
(iii) with such adjustments as the Secretary may prescribe.