[Code of Federal Regulations]
[Title 26, Volume 7]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.563-1]

[Page 302]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.563-1  Accumulated earnings tax.

    In the determination of the dividends paid deduction for purposes of 
the accumulated earnings tax imposed by section 531, a dividend paid 
after the close of any taxable year and on or before the 15th day of the 
third month following the close of such taxable year shall be considered 
as paid during such taxable year, and shall not be included in the 
computation of the dividends paid deduction for the year of payment. 
However, the rule provided in section 563(a) is not applicable to 
dividends paid during the first two and one-half months of the first 
taxable year of the corporation subject to tax under chapter 1 of the 
Internal Revenue Code of 1954.