72 S T A T. ]
PUBLIC LAW 8 5 - 8 6 6 - S E P T. 2, 1958
thereof a semicolon, and by adding after paragraph (17) the following new paragraph: "(18) to the extent provided in section 1376 in the case of stock of, and indebtedness owing, shareholders of an electing small business corporation (as defined in section 1371(b)). " (3) Section 1504(b) (relating to definition of includible corporation) is amended by adding at the end thereof the following new paragraph: "(8) An electing small business corporation (as defined in section 1371(b)). " (4) The table of sections for subpart A of part III of subchapter A of chapter 61 is amended by striking out
1657
26 USC ij;o4.
"Sec. 6037. Cross references."
and inserting in lieu thereof "Sec. 6037. Return of electing small business corporation. "Sec. 6038. Cross references." (e) EFFECTIVE DATE.—The amendments made by this section shall
apply only with respect to taxable years beginning after December 31, 1957. SEC. 65. PERIOD OF LIMITATION FOR FILING CLAIM FOR CREDIT FOR STATE DEATH TAXES. (a) PERIOD UNDER 1954 CODE,—Section 2011(c) (relating to period
of limitations on credit for State death taxes) is amended by inserting after paragraph (2) the following new paragraph: "(3) If a claim for refund or credit of an overpayment of tax imposed by this chapter has been filed within the time prescribed in section 6511, then within such 4-year period or before the expiration of 60 days from the date of mailing by certified mail or registered mail by the Secretary or his delegate to the taxpayer of a notice of the disallowance of any part of such claim, or before the expiration of 60 days after a decision by any court of competent jurisdiction becomes final with respect to a timely suit instituted upon such claim, whichever is later."
26 USC 2011.
26use65H.
(b) PERIOD UNDER 1939 CODE.—Section 813(b) of the Internal
Revenue Code of 1939 (relating to period of limitations on credit for State death taxes) is amended by inserting after paragraph (2) the following new paragraph: "(3) If a claim for refund or credit of an overpayment of tax imposed by this chapter has been filed within the time prescribed in section 910, then within such 4-year period or before the expiration of 60 days from the date of mailing by certified mail or registered mail by the Secretary or his delegate to the taxpayer of a notice of the disallowance of any part of such claim, or before the expiration of 60 days after a decision by any court of competent jurisdiction becomes final with respect to a timely suit instituted upon such claim, whichever is later." (c) EFFECTIVE DATES.—The amendment made by subsection (a) shall apply with respect to estates of decedents dying after August 16, 1954. The amendment made by subsection (b) shall apply with respect to estates of decedents dying after February 10, 1939, and on or before August 16, 1954. SEC. 66. ESTATE TAX IN CASE OF REVERSIONARY OR REMAINDER INTEREST IN PROPERTY. (a)
26 USC 2011.
CREDIT FOR DEATH TAXES.—
(1) CREDIT UNDER 1954 CODE.—Section 2015 (relating to credit
for death taxes on remainders) is amended by striking out "60 days after the termination of the precedent interest or interests in the property" and inserting in lieu thereof "the time for pay-
26 USC 2015.
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