Source: http://taxtv.com/code/00441-USCODE-2011-title26-subtitleA-chap1-subchapG-partII-sec541/
Timestamp: 2017-06-28 17:31:27
Document Index: 796703583

Matched Legal Cases: ['§541', '§541', '§541', '§225', '§101', '§104', '§11802', '§13201', '§101', '§302', '§302', '§101', '§13201', '§541']

IRC §541. Imposition of personal holding company tax - TaxTV.com
IRC §541. Imposition of personal holding company tax
View related content: IRC §541	Table of ContentsPREVNEXT
In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the undistributed personal holding company income (as defined in section 545) of every personal holding company (as defined in section 542) a personal holding company tax equal to 15 percent of the undistributed personal holding company income.
(Aug. 16, 1954, ch. 736, 68A Stat. 182; Pub. L. 88–272, title II, §225(a), Feb. 26, 1964, 78 Stat. 79; Pub. L. 97–34, title I, §101(d)(2), Aug. 13, 1981, 95 Stat. 184; Pub. L. 99– 4, title I, §104(b)(8), Oct. 22, 1986, 100 Stat. 2105; Pub. L. 101–508, title XI, §11802(f)(1), Nov. 5, 1990, 104 Stat. 1388–530; Pub. L. 103–66, title XIII, §§13201(b)(2), 13202(b), Aug. 10, 1993, 107 Stat. 459, 461; Pub. L. 107–16, title I, §101(c)(5), June 7, 2001, 115 Stat. 43; Pub. L. 108–27, title III, §302(e)(6), May 28, 2003, 117 Stat. 764.)
2003—Pub. L. 108–27, §§302(e)(6), 303, temporarily substituted “equal to 15 percent of the undistributed personal holding company income.” for “equal to the product of the highest rate of tax under section 1(c) and the undistributed personal holding company income.” See Effective and Termination Dates of 2003 Amendment note below.
2001—Pub. L. 107–16, §§101(c)(5), 901, temporarily substituted “equal to the product of the highest rate of tax under section 1(c) and the undistributed personal holding company income.” for “equal to 39.6 percent of the undistributed personal holding company income.” See Effective and Termination Dates of 2001 Amendment note below.
Pub. L. 103–66, §13201(b)(2), substituted “36 percent” for “28 percent”.
1990—Pub. L. 101–508 struck out “(38.5 percent in the case of taxable years beginning in 1987)” after “28 percent”.
1986—Pub. L. 99– 4 substituted “28 percent (38.5 percent in the case of taxable years beginning in 1987)” for “50 percent”.
1981—Pub. L. 97–34 substituted “50 percent” for “70 percent”.
1964—Pub. L. 88–272 reduced the tax from 75 percent of undistributed income not in excess of $2,000, and 85 percent when in excess of $2,000, to 70 percent.
Amendment by Pub. L. 107–16 applicable to payments made in taxable years beginning after Dec. 31, 2000, see section 431(d) of Pub. L. 107–16, set out as a note under section 62 of this title.
Amendment by Pub. L. 97–34 applicable to taxable years beginning after Dec. 31, 1981, see section 101(f)(1) of Pub. L. 97–34, set out as a note under section 1 of this title.
Amendment by Pub. L. 88–272 applicable to taxable years beginning after Dec. 31, 1963, see section 225(l) of Pub. L. 88–272 set out as a note under section 316 of this title.
View related content: IRC §541