Browse Arkansas Code titles and sections
26 U.S.C. § 4999 — Golden parachute payments
Federal law — U.S. Code and appendices · legal_authorities
**(a) Imposition of tax** There is hereby imposed on any person who receives an excess parachute payment a tax equal to 20 percent of the amount of such payment.
**(b) Excess parachute payment defined** For purposes of this section, the term “excess parachute payment” has the meaning given to such term by section 280G(b).
**(c) Administrative provisions**
(1) **Withholding** — In the case of any excess parachute payment which is wages (within the meaning of section 3401) the amount deducted and withheld under section 3402 shall be increased by the amount of the tax imposed by this section on such payment.
(2) **Other administrative provisions** — For purposes of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 4999
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 0ba370f3c7f8c2a4e175389e5775b563a0451545b14259a0018ba42527317efc. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_d3e9365084b02db934ca0a78
Source file: Laws/federal/codes/united-states-code/title-26/section-4999-golden-parachute-payments--a4bed5f04c.md
Pages: Not recorded – Not recorded
Passage SHA-256: afe891fa9f189197d5bdc7a1c2c93527a36f1970efd984cd2887fb26d7785bf2
Source location: Title 26, Chapter 46, § 4999; chapter-046-golden-parachute-payments.md
Stored source content
**(a) Imposition of tax** There is hereby imposed on any person who receives an excess parachute payment a tax equal to 20 percent of the amount of such payment.
**(b) Excess parachute payment defined** For purposes of this section, the term “excess parachute payment” has the meaning given to such term by section 280G(b).
**(c) Administrative provisions**
(1) **Withholding** — In the case of any excess parachute payment which is wages (within the meaning of section 3401) the amount deducted and withheld under section 3402 shall be increased by the amount of the tax imposed by this section on such payment.
(2) **Other administrative provisions** — For purposes of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** No deduction shall be allowed under this chapter for any excess parachute payment.
**(b) Excess parachute payment** For purposes of this section—
(1) **In general** — The term “excess parachute payment” means an amount equal to the excess of any parachute payment over the portion of the base amount allocated to such payment.
(2) **Parachute payment defined**
(A) *In general* — The term “parachute payment” means any payment in the nature of compensation to (or for the benefit of) a disqualified individual if—
(i) such payment is contingent on a change—
(I) in the ownership or effective control of the corporation, or
(II) in the ownership of a substantial portion of the assets of the corporation, and
(ii) the aggregate present value of the payments in the nature of compensation to (or for the benefit of) such individual which are contingent on such change equals or exceeds an amount equal to 3 times the base amount.
For purposes of clause (ii), payments not treated as parachute payments under paragraph (4)(A), (5), or (6) shall not be taken into account.
(B) *Agreements* — The term “parachute payment” shall also include any payment in the nature of compensation to (or for the benefit of) a disqualified individual if such payment is made pursuant to an agreement which violates any generally enforced securities laws or regulations. In any proceeding involving the issue of whether any payment made to a disqualified individual is a parachute payment on account of a violation of any generally enforced securities laws or regulations, the burden of proof with respect to establishing the occurrence of a violation of such a law or regulation shall be upon the Secretary.
(C) *Treatment of certain agreements entered into w
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 280G
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 3125
TITLE 26—INTERNAL REVENUE CODE
§ 5000
Section 4994, added Pub. L. 96–223, title I, § 101(a)(1),
Apr. 2, 1980, 94 Stat. 241; amended Pub. L. 97–34, title VI,
§§ 601(b)(2), 603(b), 604(a)–(c), Aug. 13, 1981, 95 Stat.
337–339; Pub. L. 97–248, title II, § 291, Sept. 3, 1982, 96
Stat. 572; Pub. L. 97–448, title I, § 106(a)(2), (4)(B), (b),
title II, § 201(f), Jan. 12, 1983, 96 Stat. 2388, 2390, 2392, re-
lated to definitions and special rules with respect to ex-
empt oil.
Section 4995, added Pub. L. 96–223, title I, § 101(a)(1),
Apr. 2, 1980, 94 Stat. 244; amended Pub. L. 97–34, title VI,
§ 601(b)(3), Aug. 13, 1981, 95 Stat. 337; Pub. L. 97–448, title
II, § 201(g), Jan. 12, 1983, 96 Stat. 2393, related to with-
holding and depository requirements bearing on the
windfall profit tax.
Section 4996, added Pub. L. 96–223, title I, § 101(a)(1),
Apr. 2, 1980, 94 Stat. 247; amended Pub. L. 97–248, title
II, § 284(a), Sept. 3, 1982, 96 Stat. 569; Pub. L. 97–354,
§ 3(b)(1), Oct. 19, 1982, 96 Stat. 1688; Pub. L. 97–448, title
II, § 201(h)(1)(A)–(C), (2), Jan. 12, 1983, 96 Stat. 2393–2395,
provided for other definitions and special rules bearing
on the windfall profit tax.
Section 4997, added Pub. L. 96–223, title I, § 101(a)(1),
Apr. 2, 1980, 94 Stat. 249; amended Pub. L. 97–448, title
II, § 201(i)(1), Jan. 12, 1983, 96 Stat. 2395, related to
records and information, and regulations, bearing on
the windfall profit.
Section 4998, added Pub. L. 96–223, title I, § 101(a)(1),
Apr. 2, 1980, 94 Stat. 250, related to cross references.
AMENDMENTS
2017—Subsec. (a)(1). Pub. L. 115–97 substituted ‘‘sec-
tion 1(h)(1)(D)’’ for ‘‘section 1(h)(1)(C)’’.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2017 AMENDMENT
Pub. L. 115–97, title I, § 13604(b), D
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 4999
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.