financial services income
Defined in 1 place of the United States Code.
Except as otherwise provided in this subparagraph, the term “financial services income” means any income which is received or accrued by any person predominantly engaged in the active conduct of a banking, insurance, financing, or similar business, and which is—
(I) described in clause (ii),
(II) passive income (determined without regard to subclause (I) of subparagraph (A)(iii)), or
(III) export financing interest which (but for subparagraph (B)(ii)) would be high withholding tax interest.
Source
- 1994–199726 U.S.C. § 904Internal Revenue Code · Limitation on credit · in this section
Except as otherwise provided in this subparagraph, the term “financial services income” means any income which is received or accrued by any person predominantly engaged in the active conduct of a banking, insurance, financing, or similar business, and which is—
(I) described in clause (ii),
(II) passive income (determined without regard to subclauses (I) and (III) of subparagraph (A)(iii)), or
(III) export financing interest which (but for subparagraph (B)(ii)) would be high withholding tax interest.
Source
- 1997–200626 U.S.C. § 904Internal Revenue Code · Limitation on credit · in this section
Except as otherwise provided in this subparagraph, the term “financial services income” means any income which is received or accrued by any person predominantly engaged in the active conduct of a banking, insurance, financing, or similar business, and which is—
(I) described in clause (ii), or
(II) passive income (determined without regard to subparagraph (B)(iii)(II)).
Source
- 2006–present26 U.S.C. § 904Internal Revenue Code · Limitation on credit · in this section