foreign mineral income — U.S. Code definitions

For purposes of paragraph (1), the term “foreign mineral income” means income derived from the extraction of minerals from mines, wells, or other natural deposits, the processing of such minerals into their primary products, and the transportation, distribution, or sale of such minerals or primary products. Such term includes, but is not limited to 1 that portion of the taxpayer’s distributive share of the income of partnerships attributable to foreign mineral income.

Source

2017–present 26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · under this chapter

For purposes of paragraph (1), the term “foreign mineral income” means income derived from the extraction of minerals from mines, wells, or other natural deposits, the processing of such minerals into their primary products, and the transportation, distribution, or sale of such minerals or primary products. Such term includes, but is not limited to—

(A) dividends received from a foreign corporation in respect of which taxes are deemed paid by the taxpayer under section 902, to the extent such dividends are attributable to foreign mineral income, and

(B) that portion of the taxpayer’s distributive share of the income of partnerships attributable to foreign mineral income.

Source

2013 26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · under this chapter

For purposes of paragraph (1), the term "foreign mineral income" means income derived from the extraction of minerals from mines, wells, or other natural deposits, the processing of such minerals into their primary products, and the transportation, distribution, or sale of such minerals or primary products. Such term includes, but is not limited to—

(A) dividends received from a foreign corporation in respect of which taxes are deemed paid by the taxpayer under section 902, to the extent such dividends are attributable to foreign mineral income, and

(B) that portion of the taxpayer's distributive share of the income of partnerships attributable to foreign mineral income.

Notwithstanding subsection (b) and sections 902 and 960, the amount of any income, or profits, and excess profits taxes paid or accrued during the taxable year to any foreign country in connection with the purchase and sale of oil or gas extracted in such country is not to be considered as tax for purposes of section 275(a) and this section if—

Source

1994–2017 26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · under this chapter

For purposes of paragraph (1), the term “foreign mineral income” means income derived from the extraction of minerals from mines, wells, or other natural deposits, the processing of such minerals into their primary products, and the transportation, distribution, or sale of such minerals or primary products. Such term includes, but is not limited to that portion of the taxpayer’s distributive share of the income of partnerships attributable to foreign mineral income.

Source

2018 26 U.S.C. § 901Internal Revenue Code · Taxes of foreign countries and of possessions of United States · under this chapter