Inter-corporate dividend deduction: companies may deduct received dividends to the extent distributed before the due date. A domestic company may deduct dividends received from another domestic company, a foreign company or a business trust to the extent such received dividends do not exceed the amount of dividend the recipient company has distributed on or before the due date; once the deduction for a distributed amount is allowed in a previous year, that amount cannot be claimed again in any other year, and 'due date' means one month prior to the statutory return filing date.