Source: http://www.law.cornell.edu/uscode/text/26/531?quicktabs_8=1
Timestamp: 2013-12-21 16:47:17
Document Index: 444669859

Matched Legal Cases: ['§ 531', '§ 531', '§ 531', '§ 1001', '§ 13201', '§ 101', '§ 302', '§ 302', '§ 101', '§ 13202', '§ 13201', '§ 5312012112']

26 USC § 531 - Imposition of accumulated earnings tax | Title 26 - Internal Revenue Code | U.S. Code | LII / Legal Information Institute
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26 USC § 531 - Imposition of accumulated earnings tax
In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the accumulated taxable income (as defined in section 535) of each corporation described in section 532, an accumulated earnings tax equal to 20 percent of the accumulated taxable income.
(Aug. 16, 1954, ch. 736, 68A Stat. 179; Pub. L. 100–647, title I, § 1001(a)(2)(A),Nov. 10, 1988, 102 Stat. 3349; Pub. L. 103–66, title XIII, §§ 13201(b)(1), 13202(b),Aug. 10, 1993, 107 Stat. 459, 461; Pub. L. 107–16, title I, § 101(c)(4),June 7, 2001, 115 Stat. 43; Pub. L. 108–27, title III, § 302(e)(5),May 28, 2003, 117 Stat. 764.)
2003—Pub. L. 108–27, §§ 302(e)(5), 303, temporarily substituted “equal to 15 percent of the accumulated taxable income.” for “equal to the product of the highest rate of tax under section 1
(c) and the accumulated taxable income.” See Effective and Termination Dates of 2003 Amendment note below.
2001—Pub. L. 107–16, §§ 101(c)(4), 901, temporarily substituted “equal to the product of the highest rate of tax under section 1
(c) and the accumulated taxable income.” for “equal to 39.6 percent of the accumulated taxable income.” See Effective and Termination Dates of 2001 Amendment note below.
1993—Pub. L. 103–66, § 13202(b), substituted “39.6 percent” for “36 percent”.
Pub. L. 103–66, § 13201(b)(1), substituted “36 percent” for “28 percent”.
1988—Pub. L. 100–647amended section generally. Prior to amendment, section read as follows: “In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the accumulated taxable income (as defined in section 535) of every corporation described in section 532, an accumulated earnings tax equal to the sum of—
“(1) 271/2 percent of the accumulated taxable income not in excess of $100,000, plus
“(2) 381/2 percent of the accumulated taxable income in excess of $100,000.”
Amendment by Pub. L. 107–16applicable to taxable years beginning after Dec. 31, 2000, see section 101(d)(1) ofPub. L. 107–16, set out as a note under section 1 of this title.
Amendment by Pub. L. 103–66applicable to taxable years beginning after Dec. 31, 1992, see sections 13201(c) and 13202(c) ofPub. L. 103–66, set out as notes under section 1 of this title.
Section 1001(a)(2)(B) ofPub. L. 100–647provided that: “The amendment made by subparagraph (A) [amending this section] shall apply to taxable years beginning after December 31, 1987. Such amendment shall not be treated as a change in a rate of tax for purposes of section 15 of the 1986 Code.”
26 USCDescription of ChangeSession YearPublic LawStatutes at Large § 5312012112-240 [Sec.] 102(c)(1)(A)126 Stat. 2319 LII has no control over and does not endorse any external Internet site that contains links to or references LII. U.S. Code Toolbox