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26 U.S.C. § 5881 — Greenmail
Federal law — U.S. Code and appendices · legal_authorities
**(a) Imposition of tax** There is hereby imposed on any person who receives greenmail a tax equal to 50 percent of gain or other income of such person by reason of such receipt.
**(b) Greenmail** For purposes of this section, the term “greenmail” means any consideration transferred by a corporation (or any person acting in concert with such corporation) to directly or indirectly acquire stock of such corporation from any shareholder if—
(1) such shareholder held such stock (as determined under section 1223) for less than 2 years before entering into the agreement to make the transfer,
(2) at some time during the 2-year period ending on the date of such acquisition—
(A) such shareholder,
(B) any person acting in concert with such shareholder, or
(C) any person who is related to such shareholder or person described in subparagraph (B),
made or threatened to make a public tender offer for stock of such corporation, and
(3) such acquisition is pursuant to an offer which was not made on the same terms to all shareholders.
For purposes of the preceding sentence, payments made in connection with, or in transactions related to, an acquisition shall be treated as paid in such acquisition.
**(c) Other definitions** For purposes of this section—
(1) **Public tender offer** — The term “public tender offer” means any offer to purchase or otherwise acquire stock or assets in a corporation if such offer was or would be required to be filed or registered with any Federal or State agency regulating securities.
(2) **Related person** — A person is related to another person if the relationship between such persons would result in the disallowance of losses under section 267 or 707(b).
**(d) Tax applies whether or not amount recognized** The tax imposed by this section
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Source file: Laws/federal/codes/united-states-code/title-26/section-5881-greenmail--c5ab553d6e.md
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Source location: Title 26, Chapter 54, § 5881; chapter-054-greenmail.md
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**(a) Imposition of tax** There is hereby imposed on any person who receives greenmail a tax equal to 50 percent of gain or other income of such person by reason of such receipt.
**(b) Greenmail** For purposes of this section, the term “greenmail” means any consideration transferred by a corporation (or any person acting in concert with such corporation) to directly or indirectly acquire stock of such corporation from any shareholder if—
(1) such shareholder held such stock (as determined under section 1223) for less than 2 years before entering into the agreement to make the transfer,
(2) at some time during the 2-year period ending on the date of such acquisition—
(A) such shareholder,
(B) any person acting in concert with such shareholder, or
(C) any person who is related to such shareholder or person described in subparagraph (B),
made or threatened to make a public tender offer for stock of such corporation, and
(3) such acquisition is pursuant to an offer which was not made on the same terms to all shareholders.
For purposes of the preceding sentence, payments made in connection with, or in transactions related to, an acquisition shall be treated as paid in such acquisition.
**(c) Other definitions** For purposes of this section—
(1) **Public tender offer** — The term “public tender offer” means any offer to purchase or otherwise acquire stock or assets in a corporation if such offer was or would be required to be filed or registered with any Federal or State agency regulating securities.
(2) **Related person** — A person is related to another person if the relationship between such persons would result in the disallowance of losses under section 267 or 707(b).
**(d) Tax applies whether or not amount recognized** The tax imposed by this section shall apply whether or not the gain or other income referred to in subsection (a) is recognized.
**(e) Administrative provisions** For purposes of the deficiency procedures of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** No deduction shall be allowed for the following taxes:
(1) Federal income taxes, including—
(A) the tax imposed by section 3101 (relating to the tax on employees under the Federal Insurance Contributions Act);
(B) the taxes imposed by sections 3201 and 3211 (relating to the taxes on railroad employees and railroad employee representatives); and
(C) the tax withheld at source on wages under section 3402.
(2) Federal war profits and excess profits taxes.
(3) Estate, inheritance, legacy, succession, and gift taxes.
(4) Income, war profits, and excess profits taxes imposed by the authority of any foreign country or possession of the United States if the taxpayer chooses to take to any extent the benefits of section 901.
(5) Taxes on real property, to the extent that section 164(d) requires such taxes to be treated as imposed on another taxpayer.
(6) Taxes imposed by chapters 37, 41, 42, 43, 44, 45, 46, 50A, and 54.
Paragraph (1) shall not apply to any taxes to the extent such taxes are allowable as a deduction under section 164(f).
**(b) Cross reference** For disallowance of certain other taxes, see section 164(c).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 275
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Adjustments applicable to all taxpayers** In determining the amount of the alternative minimum taxable income for any taxable year the following treatment shall apply (in lieu of the treatment applicable for purposes of computing the regular tax):
(1) **Depreciation**
(A) *In general*
(i) *Property other than certain personal property* — Except as provided in clause (ii), the depreciation deduction allowable under section 167 with respect to any tangible property placed in service after December 31, 1986, shall be determined under the alternative system of section 168(g). In the case of property placed in service after December 31, 1998, the preceding sentence shall not apply but clause (ii) shall continue to apply.
(ii) *150-percent declining balance method for certain property* — The method of depreciation used shall be—
(I) the 150 percent declining balance method,
(II) switching to the straight line method for the 1st taxable year for which using the straight line method with respect to the adjusted basis as of the beginning of the year will yield a higher allowance.
The preceding sentence shall not apply to any section 1250 property (as defined in section 1250(c)) (and the straight line method shall be used for such section 1250 property) or to any other property if the depreciation deduction determined under section 168 with respect to such other property for purposes of the regular tax is determined by using the straight line method.
(B) *Exception for certain property* — This paragraph shall not apply to property described in paragraph (1), (2), (3), or (4) of section 168(f), or in section 168(e)(3)(C)(iv).
(C) *Coordination with transitional rules*
(i) *In general* — This paragraph shall not apply to property pla
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Federal law — U.S. Code and appendices · legal_authorities
Page 3291
TITLE 26—INTERNAL REVENUE CODE
§ 5881
§ 5872. Forfeitures
(a) Laws applicable
Any firearm involved in any violation of the
provisions of this chapter shall be subject to sei-
zure and forfeiture, and (except as provided in
subsection (b)) all the provisions of internal rev-
enue laws relating to searches, seizures, and for-
feitures of unstamped articles are extended to
and made to apply to the articles taxed under
this chapter, and the persons to whom this chap-
ter applies.
(b) Disposal
In the case of the forfeiture of any firearm by
reason of a violation of this chapter, no notice
of public sale shall be required; no such firearm
shall be sold at public sale; if such firearm is
forfeited for a violation of this chapter and
there is no remission or mitigation of forfeiture
thereof, it shall be delivered by the Secretary to
the Administrator of General Services, General
Services Administration, who may order such
firearm destroyed or may sell it to any State, or
possession, or political subdivision thereof, or at
the request of the Secretary, may authorize its
retention for official use of the Treasury Depart-
ment, or may transfer it without charge to any
executive department or independent establish-
ment of the Government for use by it.
(Added Pub. L. 90–618, title II, § 201, Oct. 22, 1968,
82 Stat. 1235; amended Pub. L. 94–455, title XIX,
§ 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
Editorial Notes
PRIOR PROVISIONS
Provisions similar to those comprising this section
were contained in prior section 5862, act Aug. 16, 1954,
ch. 736, 68A Stat. 729, prior to the general revision of
this chapter by Pub. L. 90–618.
AMENDMENTS
1976—Subsec. (b). Pub. L. 94–455 struck out ‘‘or his
delegate’’ after ‘‘Secretary’’ wherever appearing
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 5881
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