undistributed income
Defined in 1 place of the United States Code.
For purposes of this section, the term "undistributed income" means, with respect to any private foundation for any taxable year as of any time, the amount by which—
Source
- 1994–201826 U.S.C. § 4942Internal Revenue Code · Taxes on failure to distribute income · for purposes of this section
For purposes of this section, the term “undistributed income” means, with respect to any private foundation for any taxable year as of any time, the amount by which—
(1) the distributable amount for such taxable year, exceeds
(2) the qualifying distributions made before such time out of such distributable amount.
Source
- 2013–present26 U.S.C. § 4942Internal Revenue Code · Taxes on failure to distribute income · for purposes of this section