Sec. 3408. Modification of credit for portion of employer social security taxes paid with respect to employee tips

232 words·~1 min read·/bill/115/hr/1/pcs/section-3408

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 45B(b)(1)(B) is amended by striking as in effect on January 1, 2007, and . Section 45B is amended by redesignating subsections

(c)and

(d)as subsections

(d)and (e), respectively, and by inserting after subsection

(b)the following new subsection: No credit shall be determined under subsection

(a)with respect to any food or beverage establishment of any taxpayer for any taxable year unless such taxpayer has, with respect to the calendar year which ends in or with such taxable year— made a report to the Secretary showing the information described in section 6053(c)(1) with respect to such food or beverage establishment, and furnished written statements to each employee of such food or beverage establishment showing the information described in section 6053(c)(2). For purposes of determining the information referred to in subparagraphs

(A)and (B), section 6053(c)(3)(A)(i) shall be applied by substituting 10 percent for 8 percent . For purposes of section 6053(c)(5), any reference to section 6053(c)(3)(B) contained therein shall be treated as including a reference to this paragraph. For purposes of this subsection, the term food or beverage establishment means any trade or business (or portion thereof) which would be a large food or beverage establishment (as defined in section 6053(c)(4)) if such section were applied without regard to subparagraph

(C)thereof. . The amendments made by this section shall apply to taxable years beginning after December 31, 2017.