Source: http://www.law.cornell.edu/uscode/text/26/4977?quicktabs_8=3
Timestamp: 2013-06-20 09:53:38
Document Index: 133652172

Matched Legal Cases: ['§ 4977', '§ 4977', '§ 4977', '§ 531', '§ 1853', '§ 13213', '§ 1704', '§ 1853', '§ 1853']

26 USC § 4977 - Tax on certain fringe benefits provided by an employer | Title 26 - Internal Revenue Code | U.S. Code | LII / Legal Information Institute
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26 USC § 4977 - Tax on certain fringe benefits provided by an employer
Excess fringe benefits For purposes of subsection (a), the term “excess fringe benefits” means, with respect to any calendar year—
the aggregate value of the fringe benefits provided by the employer during the calendar year which were not includible in gross income under paragraphs (1) and (2) of section 132
1 percent of the aggregate amount of compensation—
Effect of election on section 132(a) If—
for purposes of paragraphs (1) and (2) of section 132
(a) (but not for purposes of section 132
(h)), all employees of any line of business of the employer which was in existence on January 1, 1984, shall be treated as employees of the line of business referred to in paragraph (2).
Treatment of controlled groups All employees treated as employed by a single employer under subsection (b), (c), or (m) ofsection 414 shall be treated as employed by a single employer for purposes of this section.
(Added Pub. L. 98–369, div. A, title V, § 531(e)(1),July 18, 1984, 98 Stat. 885; amended Pub. L. 99–514, title XVIII, § 1853(c)(1), (2),Oct. 22, 1986, 100 Stat. 2871; Pub. L. 103–66, title XIII, § 13213(d)(3)(D),Aug. 10, 1993, 107 Stat. 474; Pub. L. 104–188, title I, § 1704(t)(66),Aug. 20, 1996, 110 Stat. 1890.)
1996—Subsec. (c). Pub. L. 104–188substituted “section 132
(h)” for “section 132
(i)(2)” in closing provisions.
1993—Subsec. (c). Pub. L. 103–66substituted “section 132
(i)(2)” for “section 132
(g)(2)” in closing provisions.
1986—Subsec. (c)(2). Pub. L. 99–514, § 1853(c)(1), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “as of January 1, 1984, substantially all of the employees of the employer were entitled to employee discounts or services provided by the employer in 1 line of business,”.
Subsec. (f). Pub. L. 99–514, § 1853(c)(2), added subsec. (f).
Amendment by Pub. L. 103–66applicable to reimbursements or other payments in respect of expenses incurred after Dec. 31, 1993, see section 13213(e) ofPub. L. 103–66, set out as a note under section 62 of this title.
Section effective Jan. 1, 1985, see section 531(h) ofPub. L. 98–369, set out as a note under section 132 of this title.
Section 1853(c)(3) ofPub. L. 99–514provided that: “For purposes of determining whether the requirements of section 4977(c) of the Internal Revenue Code of 1954 [now 1986] are met in the case of an agricultural cooperative incorporated in 1964, there shall not be taken into account employees of a member of the same controlled group as such cooperative which became a member during July 1980.”