Deduction for Dividends Paid Law and Legal Definition

Deduction for dividends paid means the sum of; (1) the dividends paid during the taxable year, (2) the consent dividends for the taxable year, and (3) in the case of a personal holding company, the dividend carryover. Nestle Purina Petcare Co. v. Comm'r, 2010 U.S. App. LEXIS 2639 (8th Cir. Feb. 9, 2010)