Sec. 201. Determination of wages and self-employment income above contribution and benefit base after 2013
721 words·~3 min read·
/bill/113/s/308/is/section-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 3121 of the Internal Revenue Code of 1986 is amended— in subsection (a)(1), by inserting the applicable percentage (determined under subsection (c)(1)) of before that part of the remuneration ; and in subsection (c), by striking
(c)and inserting the following: Included and excluded service.— For purposes of this chapter, if For purposes of paragraph
(1)of subsection (a), the applicable percentage for a calendar year, in connection with any calendar year referred to in such subparagraph, shall be the percentage determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2014 86% Calendar year 2015 71% Calendar year 2016 57% Calendar year 2017 43% Calendar year 2018 29% Calendar year 2019 14% Calendar years after 2019 0%. For purposes of this chapter, if . Section 209 of the Social Security Act ( 42 U.S.C. 409 ) is amended— in subsection (a)(1)(I)— by inserting and before 2014 after 1974 ; and by inserting and after the semicolon; in subsection (a)(1), by adding at the end the following new subparagraph: The applicable percentage (determined under subsection (l)) of that part of remuneration which, after remuneration (other than remuneration referred to in the succeeding subsections of this section) equal to the contribution and benefit base (determined under section 230) with respect to employment has been paid to an individual during any calendar year after 2013 with respect to which such contribution and benefit base is effective, is paid to such individual during such calendar year; ; and by adding at the end the following new subsection: For purposes of subparagraph
(J)of subsection (a)(1), the applicable percentage for a calendar year, in connection with any calendar year referred to in such subparagraph, shall be the percentage determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2014 86% Calendar year 2015 71% Calendar year 2016 57% Calendar year 2017 43% Calendar year 2018 29% Calendar year 2019 14% Calendar years after 2019 0%. . The amendments made by this subsection shall apply with respect to remuneration paid in calendar years after 2013. Section 1402 of the Internal Revenue Code of 1986 is amended— in subsection (b)(1), by inserting an amount equal to the applicable percentage (as determined under subsection (d)(2)) of before that part of the net earnings from self-employment ; and in subsection (d)— by striking
(d)and inserting the following: Employee and wages.— The term The term ; and by adding at the end the following: For purposes of paragraph
(1)of subsection (b), the applicable percentage for a taxable year beginning in any calendar year referred to in such paragraph shall be the percentage determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2014 86% Calendar year 2015 71% Calendar year 2016 57% Calendar year 2017 43% Calendar year 2018 29% Calendar year 2019 14% Calendar years after 2019 0%. . Section 211 of the Social Security Act ( 42 U.S.C. 411 ) is amended— in subsection (b)(1)(I)— by striking or after the semicolon; and by inserting and before 2014 after 1974 ; in subsection (b)— by redesignating paragraph
(2)as paragraph (3); and by inserting after paragraph
(1)the following: For any taxable year beginning in any calendar year after 2013, an amount equal to the applicable percentage (as determined under subsection (l)) of that part of net earnings from self-employment which is in excess of
(A)an amount equal to the contribution and benefit base (determined under section 230) that is effective for such calendar year, minus
(B)the amount of the wages paid to such individual during such taxable year; or ; and by adding at the end the following: For purposes of paragraph
(2)of subsection (b), the applicable percentage for a taxable year beginning in any calendar year referred to in such paragraph, shall be the percentage determined in accordance with the following table: The applicable In the case of: percentage is: Calendar year 2014 86% Calendar year 2015 71% Calendar year 2016 57% Calendar year 2017 43% Calendar year 2018 29% Calendar year 2019 14% Calendar years after 2019 0%. . The amendments made by this subsection shall apply with respect to taxable years beginning during or after calendar year 2014.
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Sec. 201
Determination of wages and self-employment income above contribution and benefit base after 2013
Cites 2Cited by 0 across 0 sources