92 STAT. 2876
PUBLIC LAW 95-600—NOV. 6, 1978 "(4) For minimum tax for taxpayers other than corporations, see section 55.".
26 USC 443.
(2) Subsection (d) of section 443 (relating to adjustment in computing minimum tax for short periods) is amended to read as follows: "(d) ADJUSTMENT IN COMPUTING MINIMUM TAX FOR TAX PREFER-
ENCES.—If a return is made for a short period by reason of subsection (a), then— "(1) in the case of a taxpayer other than a corporation, the alternative minimum taxable income for the short period shall be placed on an annual basis by multiplying that amount by 12 and dividing the result by the number of months in the short period, and the amount computed under paragraph (1) of section 55(a) shall be the same part of the tax computed on the annual basis as the number of months in the short period is of 12 months; and "(2) in the case of a corporation, the $10,000 amount specified in section 56 (relating to minimum tax for tax preferences), modified as provided by section 58, shall be reduced to the amount which bears the same ratio to such specified amount as the number of days in the short period bears to 365.". (3) Subsection (d) of section 511 (relating to tax preferences) is amended to read as follows:
26 USC 55.
26 USC 56. 26 USC 58. 26 USC 511.
"(d) TAX PREFERENCES.— "(1) ORGANIZATIONS TAXABLE AT CORPORATE RATES.—If
an organization is subject to tax on unrelated business taxable income pursuant to subsection (a), the tax imposed by section 56 shall apply to such organizations with respect to items of tax preference which enter into the computation of unrelated business taxable income in the same manner as section 56 applies to corporations. "(2) ORGANIZATIONS TAXABLE AS TRUSTS.—If an organization is subject to tax on unrelated business taxable income pursuant to subsection (b), the taxes imposed by section 55 and section 56 (as the case may be) shall apply to such organization with respect to items of tax preference which enter into the computation of unrelated business taxable income." (4) Paragraph (1) of section 871(b) (relating to tax on nonresident alien individuals) is amended by inserting ", section 55," after "section 1". (5) Subsection (b) of section 877 (relating to expatriation to avoid tax) is amended by inserting ", section 55," after "section 1". (6) Section 904(h) (relating to cross references) is amended to read as follows:
26 USC 56.
26 USC 871. 26 USC 877. 26 USC 904. •
26 USC 6015.
"(h) CROSS REFERENCES.— / "(1) For increase of limitation under subsection (a) for taxes paid with respect to amounts received which were included in the gross income of the taxpayer for a prior taxable year as a United States shareholder with respect to a controlled foreign corporation, see section 960(b). "(2) For modiflcation of limitation under subsection (a) for purposes of determining the amount of credit which can be taken by an individual against the alternative minimum tax, see section 55(c).".
(7) Paragraph (1) of section 6015(c) (defining estimated tax) is amended by striking out "section 56" and inserting in lieu thereof "section 55 or 56".
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