Irc section 4982 f
Web26 U.S. Code § 4982 - Excise tax on undistributed income of regulated investment companies U.S. Code Notes prev next (a) Imposition of tax There is hereby imposed a tax on every regulated investment company for each calendar year equal to 4 percent of the … “The amendments made by this subtitle [subtitle C (§§ 1121–1124) of title XI of … The Secretary of the Treasury shall calculate the amount of each covered … Web§4982. Excise tax on undistributed income of regulated investment companies (a) Imposition of tax There is hereby imposed a tax on every regulated investment company for each calendar year equal to 4 percent of the excess (if any) of- (1) the required distribution for such calendar year, over (2) the distributed amount for such calendar year.
Irc section 4982 f
Did you know?
Webelect under section 4982(e)(7) to determine its ordinary income for the calendar year by deferring its net ordinary loss (figured without regard to specified gains and losses taken … WebDec 31, 2008 · There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 30 percent (6 percent in the case of property of a character subject to depreciation) of the cost of any qualified alternative fuel vehicle refueling property placed in service by the taxpayer during the taxable year.
WebSection 4982 provides special rules for determining the "required distribution" amount. Generally, the required distribution amount equals 98% of the RICs ordinary income for the calendar year plus 98.2% of the RIC's capital gain net income for the one-year period ending on 31 October of the calendar year. WebI.R.C. § 4982 (a) Imposition Of Tax — There is hereby imposed a tax on every regulated investment company for each calendar year equal to 4 percent of the excess (if any) of— …
WebThe accumulated earnings tax imposed by section 531 shall apply to every corporation (other than those described in subsection (b)) formed or availed of for the purpose of avoiding the income tax with respect to its shareholders or the shareholders of any other corporation, by permitting earnings and profits to accumulate instead of being divided … WebSection 962 allows individuals or fiduciaries to be taxed at domestic corporate rates on any amounts included as gross income under IRC 951 (a), including presumable GILTI because of Section 951A (f) (1) (A), rather than at potentially higher individual or fiduciary income tax rates. An election under Section 962 can provide benefits specific ...
WebSection 4982(e)(6)(A) provides that, for the purposes of determining a RIC’s ordinary income, each specified mark-to-market provision shall be applied as if such RIC’s taxable year ended on October 31. Section 4982(e)(6)(A) also provides that in the case of a RIC making an election under section 4982(e)(4), the preceding sentence
Webunder section 401(a) of the Internal Revenue Code, including a 401(k) plan, profit-sharing plan, defined benefit plan, stock bonus plan, and money purchase plan; a section 403(a) annuity plan; a section 403(b) tax-sheltered annuity; and an eligible section 457(b) plan maintained by a governmental employer (governmental 457 plan). smart black women\u0027s shoesWebSection 408 (a) individual retirement accounts (IRAs). Section 408 (b) individual retirement annuities. Paying the Penalty. More than 70% of the individuals who received lump-sum distributions from their retirement plans in 2001 spent them, subjecting them to the IRC section 72 (t) 10% early withdrawal penalty. hill medical centre medicine hatWebMaterial relating to either tax exempt organizations or pension and other plans that is open to public inspection under section 6104 (a) (1) and §§ 301.6104 (a) –1 through § 301.6104 (a) –3 will be available for inspection only upon request. If inspection at the National Office is desired, a request should be made in writing to the ... hill mechanical franklin parkhill memorial umc bradford paWebUS: RICs granted relief by Revenue Procedure 2024-47 from Section 4982 excise tax for Section 965 inclusions EY - Global About us Trending Why Chief Marketing Officers should be central to every transformation 31 Jan 2024 Consulting How will CEOs respond to a new recession reality? 11 Jan 2024 CEO agenda smart black work dressWebundistributed income under section 4982 or that makes an election under section 4982(e)(4) must file Form 8613. A RIC that makes the election must file the form even if no excise tax is due. Line 5 Enter the amount of dividends paid during the calendar year. Include dividends declared in October, November, or December of that calendar year and hill medical clinic medicine hatWebI.R.C. § 952 (c) (1) (A) Subpart F Income Limited To Current Earnings And Profits — For purposes of subsection (a), the subpart F income of any controlled foreign corporation for any taxable year shall not exceed the earnings and … smart black trousers for women