§ 1372. Partnership rules to apply for fringe benefit purposes
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(a)General rule For purposes of applying the provisions of this subtitle which relate to employee fringe benefits—
(1)the S corporation shall be treated as a partnership, and
(2)any 2-percent shareholder of the S corporation shall be treated as a partner of such partnership.
(b)2-percent shareholder defined For purposes of this section, the term “2-percent shareholder” means any person who owns (or is considered as owning within the meaning of section 318) on any day during the taxable year of the S corporation more than 2 percent of the outstanding stock of such corporation or stock possessing more than 2 percent of the total combined voting power of all stock of such corporation.
(Added Pub. L. 97–354, § 2, Oct. 19, 1982, 96 Stat. 1682.)
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U.S. Code
statutes-at-large
- Public Law 86–799
- Public Law 87–28
- Public Law 91–677
- Public Law 95–628To revise miscellaneous timing requirements of the revenue laws, and for other purposes
- Public Law 95–600To amend the Internal Revenue Code of 1954 to reduce income taxes, and for other purposes
- Public Law 97–354To revise subchapter S of the Internal Revenue Code of 1954 (relating to small business corporations)
- Public Law 94–455To reform the tax laws of the United States
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U.S. Code
19 references not yet in our index
- Pub. L. 97–354, § 2
- 96 Stat. 1682
- Pub. L. 85–866, title I, § 64(a)
- 72 Stat. 1650
- Pub. L. 87–29, § 2
- 75 Stat. 64
- Pub. L. 89–389
- 80 Stat. 114
- Pub. L. 91–683, § 1(a)
- 84 Stat. 2067
- Pub. L. 94–455, title IX, § 902(c)(3)
- 90 Stat. 1609
- Pub. L. 95–600, title III, § 343
- 92 Stat. 2843
- Pub. L. 95–628, § 5(a)
- 92 Stat. 3628
- section 2 of Pub. L. 97–354
- Pub. L. 97–354
- section 6(d) of Pub. L. 97–354
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§ 1372
Partnership rules to apply for fringe benefit purposes
Stat.×13
U.S.C.×3
Pub. L.Pub. L. 97–354, § 2
Stat.96 Stat. 1682
Pub. L.Pub. L. 85–866, title I, § 64(a)
Stat.72 Stat. 1650
Pub. L.Pub. L. 87–29, § 2
Cites 20 · showing 6Cited by 16 across 2 sources