§ 532. Corporations subject to accumulated earnings tax
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/usc/title-26/section-532A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General rule The 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 or distributed.
(b)Exceptions The accumulated earnings tax imposed by section 531 shall not apply to—
(1)a personal holding company (as defined in section 542),
(2)a corporation exempt from tax under subchapter F (section 501 and following), or
(3)a passive foreign investment company (as defined in section 1297).
(c)Application determined without regard to number of shareholders The application of this part to a corporation shall be determined without regard to the number of shareholders of such corporation.
(Aug. 16, 1954, ch. 736, 68A Stat. 179; Pub. L. 98–369, div. A, title I, § 58(a), July 18, 1984, 98 Stat. 574; Pub. L. 99–514, title XII, § 1235(f)(1), Oct. 22, 1986, 100 Stat. 2575; Pub. L. 105–34, title XI, § 1122(d)(1), Aug. 5, 1997, 111 Stat. 977; Pub. L. 109–135, title IV, § 403(n)(1), Dec. 21, 2005, 119 Stat. 2626.)
Connections12 cite this · traces to 4
Cited by 12 sections · top 11
U.S. Code
- § 852Taxation of regulated investment companies and their shareholders
- § 542Definition of personal holding company
- § 535Accumulated taxable income
- § 1291Interest on tax deferral
- § 1298Special rules
- § 1297Passive foreign investment company
- § 1296Election of mark to market for marketable stock
- § 4982Excise tax on undistributed income of regulated investment companies
- § 1293Current taxation of income from qualified electing funds
21 references not yet in our index
- Aug. 16, 1954, ch. 736
- 68A Stat. 179
- Pub. L. 98–369, div. A, title I, § 58(a)
- 98 Stat. 574
- Pub. L. 99–514, title XII, § 1235(f)(1)
- 100 Stat. 2575
- Pub. L. 105–34, title XI, § 1122(d)(1)
- 111 Stat. 977
- Pub. L. 109–135, title IV, § 403(n)(1)
- 119 Stat. 2626
- Pub. L. 109–135
- Pub. L. 105–34
- Pub. L. 99–514
- Pub. L. 98–369
- Pub. L. 108–357
- section 403(nn) of Pub. L. 109–135
- Pub. L. 105–34, title XI, § 1124
- 111 Stat. 978
- section 1235(h) of Pub. L. 99–514
- Pub. L. 98–369, div. A, title I, § 58(c)
- 98 Stat. 576
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§ 532
Corporations subject to accumulated earnings tax
U.S.C.×9
Stat.×3
ActAug. 16, 1954, ch. 736
Stat.68A Stat. 179
Pub. L.Pub. L. 98–369, div. A, title I, § 58(a)
Stat.98 Stat. 574
Pub. L.Pub. L. 99–514, title XII, § 1235(f)(1)
Cites 25 · showing 9Cited by 12 across 2 sources