US Codex
U.S.C.
Notes

§4462. Definitions and special rules — Inbound Citations

26 U.S.C. § 4462

Cited by 87 provisions in release 119-102.

Citations to 26 U.S.C. § 4462 as a whole

Citations to §4462(a)(1)

Citations to §4462(a)(2)

Citations to §4462(a)(2)(A)

Citations to §4462(a)(3)(A)

Citations to §4462(a)(4)

Citations to §4462(a)(4)(A)

Citations to §4462(a)(5)(A)

  • 26 U.S.C. § 4041(a)(2)(C)
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    (C) For purposes of this paragraph, the term “energy equivalent of a gallon of gasoline” means, with respect to a liquefied petroleum gas fuel, the amount of such fuel having a Btu content of 115,400 (lower heating value). For purposes of the preceding sentence, a Btu content of 115,400 (lower heating value) is equal to 5.75 pounds of liquefied petroleum gas.
  • 26 U.S.C. § 4041(a)(2)(D)
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    (D) For purposes of this paragraph, the term “energy equivalent of a gallon of diesel” means, with respect to a liquefied natural gas fuel, the amount of such fuel having a Btu content of 128,700 (lower heating value). For purposes of the preceding sentence, a Btu content of 128,700 (lower heating value) is equal to 6.06 pounds of liquefied natural gas.
  • 26 U.S.C. § 4052(b)(1)(B)(iii)
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    (iii) the value of any component of such article if—
    (I) such component is furnished by the first user of such article, and
    (II) such component has been used before such furnishing, and
  • 26 U.S.C. § 4053(10)
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    (10) Any insulation that has an R value of not less than R35 per inch.
  • 26 U.S.C. § 4217(c)(2)
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    (2) if the first lease to which subsection (b) applies is not the first lease of the article, the tax computed on the fair market value of such article on the date of the first lease to which subsection (b) applies.
  • 26 U.S.C. § 4261(e)(3)(A)
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    (A) Any amount paid (and the value of any other benefit provided) to an air carrier (or any related person) for the right to provide mileage awards for (or other reductions in the cost of) any transportation of persons by air shall be treated for purposes of subsection (a) as an amount paid for taxable transportation, and such amount shall be taxable under subsection (a) without regard to any other provision of this subchapter.
  • 26 U.S.C. § 4461(b)
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    (b) The amount of the tax imposed by subsection (a) on any port use shall be an amount equal to 0.125 percent of the value of the commercial cargo involved.
  • 26 U.S.C. § 4501(a)
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    (a) There is hereby imposed on each covered corporation a tax equal to 1 percent of the fair market value of any stock of the corporation which is repurchased by such corporation during the taxable year.
  • 26 U.S.C. § 4501(c)(2)(B)(i)
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    (i) any corporation more than 50 percent of the stock of which is owned (by vote or by value), directly or indirectly, by such corporation, and
  • 26 U.S.C. § 4501(c)(3)
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    (3) The amount taken into account under subsection (a) with respect to any stock repurchased by a covered corporation shall be reduced by the fair market value of any stock issued by the covered corporation during the taxable year, including the fair market value of any stock issued or provided to employees of such covered corporation or employees of a specified affiliate of such covered corporation during the taxable year, whether or not such stock is issued or provided in response to the exercise of an option to purchase such stock.
  • 26 U.S.C. § 4501(e)(2)
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    (2) in any case in which the stock repurchased is, or an amount of stock equal to the value of the stock repurchased is, contributed to an employer-sponsored retirement plan, employee stock ownership plan, or similar plan,
  • 26 U.S.C. § 4501(e)(3)
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    (3) in any case in which the total value of the stock repurchased during the taxable year does not exceed $1,000,000,
  • 26 U.S.C. § 4671(b)(2)
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    (2) If the importer does not furnish to the Secretary (at such time and in such manner as the Secretary shall prescribe) sufficient information to determine under paragraph (1) the amount of the tax imposed by subsection (a) on any taxable substance, the amount of the tax imposed on such taxable substance shall be 10 percent of the appraised value of such substance as of the time such substance was entered into the United States for consumption, use, or warehousing.
  • 26 U.S.C. § 4672(a)(2)(B)
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    (B) the Secretary determines, in consultation with the Administrator of the Environmental Protection Agency and the Commissioner of U.S. Customs and Border Protection, that taxable chemicals constitute more than 20 percent of the weight (or more than 20 percent of the value) of the materials used to produce such substance (determined on the basis of the predominant method of production).
  • 26 U.S.C. § 4672(a)(4)
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    (4) The Secretary shall add to the list under paragraph (3) substances which meet either the weight or value tests of paragraph (2)(B) and may remove from such list only substances which meet neither of such tests.
  • 26 U.S.C. § 4940(c)(4)(B)
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    (B) The basis for determining gain in the case of property held by the private foundation on December 31, 1969, and continuously thereafter to the date of its disposition shall be deemed to be not less than the fair market value of such property on December 31, 1969.
  • 26 U.S.C. § 4941(d)(2)(F)
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    (F) any transaction between a private foundation and a corporation which is a disqualified person (as defined in section 4946(a)), pursuant to any liquidation, merger, redemption, recapitalization, or other corporate adjustment, organization, or reorganization, shall not be an act of self-dealing if all of the securities of the same class as that held by the foundation are subject to the same terms and such terms provide for receipt by the foundation of no less than fair market value;
  • 26 U.S.C. § 4941(d)(2)(G)(v)
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    (v) any contribution or gift (other than a contribution or gift of money) to, or services or facilities made available to, any such individual, if the aggregate value of such contributions, gifts, services, and facilities to, or made available to, such individual during any calendar year does not exceed $25,
  • 26 U.S.C. § 4941(e)(2)
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    (2) The term “amount involved” means, with respect to any act of self-dealing, the greater of the amount of money and the fair market value of the other property given or the amount of money and the fair market value of the other property received; except that, in the case of services described in subsection (d)(2)(E), the amount involved shall be only the excess compensation. For purposes of the preceding sentence, the fair market value—
    (A) in the case of the taxes imposed by subsection (a), shall be determined as of the date on which the act of self-dealing occurs; and
    (B) in the case of the taxes imposed by subsection (b), shall be the highest fair market value during the taxable period.
  • 26 U.S.C. § 4941(e)(2)(B)
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    (B) in the case of the taxes imposed by subsection (b), shall be the highest fair market value during the taxable period.
  • 26 U.S.C. § 4942(a)(2)(A)
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    (A) the failure to value the assets properly was not willful and was due to reasonable cause,
  • 26 U.S.C. § 4942(e)(1)(A)
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    (A) the aggregate fair market value of all assets of the foundation other than those which are used (or held for use) directly in carrying out the foundation’s exempt purpose, over
  • 26 U.S.C. § 4942(e)(2)(A)
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    (A) For purposes of paragraph (1)(A), the fair market value of securities for which market quotations are readily available shall be determined on a monthly basis. For all other assets, the fair market value shall be determined at such times and in such manner as the Secretary shall by regulations prescribe.
  • 26 U.S.C. § 4942(e)(2)(B)
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    (B) In determining the value of any securities under this paragraph, the fair market value of such securities (determined without regard to any reduction in value) shall not be reduced unless, and only to the extent that, the private foundation establishes that as a result of—
    (i) the size of the block of such securities,
    (ii) the fact that the securities held are securities in a closely held corporation, or
    (iii) the fact that the sale of such securities would result in a forced or distress sale,
    the securities could not be liquidated within a reasonable period of time except at a price less than such fair market value. Any reduction in value allowable under this subparagraph shall not exceed 10 percent of such fair market value.
  • 26 U.S.C. § 4942(f)(4)
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    (4) For purposes of paragraph (2)(B), the basis (for purposes of determining gain) of property held by a private foundation on December 31, 1969, and continuously thereafter to the date of its disposition, shall be deemed to be not less than the fair market value of such property on December 31, 1969.
  • 26 U.S.C. § 4943(a)(1)
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    (1) There is hereby imposed on the excess business holdings of any private foundation in a business enterprise during any taxable year which ends during the taxable period a tax equal to 10 percent of the value of such holdings.
  • 26 U.S.C. § 4943(c)(2)(C)
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    (C) A private foundation shall not be treated as having excess business holdings in any corporation in which it (together with all other private foundations which are described in section 4946(a)(1)(H)) owns not more than 2 percent of the voting stock and not more than 2 percent in value of all outstanding shares of all classes of stock.
  • 26 U.S.C. § 4943(c)(4)(A)(iii)
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    (iii) The percentage substituted under clause (i), and any percentage substituted under subparagraph (D), shall be applied both with respect to the voting stock and, separately, with respect to the value of all outstanding shares of all classes of stock.
  • 26 U.S.C. § 4943(c)(4)(B)(ii)
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    (ii) except as provided in clause (i), during the 15-year period beginning on such date, if the foundation and all disqualified persons have more than a 75 percent voting stock interest (or more than a 75 percent profits or beneficial interest in the case of any unincorporated enterprise) on such date or more than a 75 percent interest in the value of all outstanding shares of all classes of stock (or more than a 75 percent capital interest in the case of a partnership or joint venture) on such date, or
  • 26 U.S.C. § 4943(c)(7)(A)(ii)
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    (ii) disposition within the initial 5-year period has not been possible (except at a price substantially below fair market value) by reason of such size and complexity or diversity of such holdings,
  • 26 U.S.C. § 4947(b)(2)
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    (2) If any amounts in the trust are segregated within the meaning of subsection (a)(2)(B) of this section, the value of the net assets for purposes of subsections (c)(2) and (g) of section 507 shall be limited to such segregated amounts.
  • 26 U.S.C. § 4947(b)(3)(A)
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    (A) all the income interest (and none of the remainder interest) of such trust is devoted solely to one or more of the purposes described in section 170(c)(2)(B), and all amounts in such trust for which a deduction was allowed under section 170, 545(b)(2), 642(c), 2055, 2106(a)(2), or 2522 have an aggregate value not more than 60 percent of the aggregate fair market value of all amounts in such trusts, or
  • 26 U.S.C. § 4951(e)(2)
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    (2) The term “amount involved” means, with respect to any act of self-dealing, the greater of the amount of money and the fair market value of the other property given or the amount of money and the fair market value of the other property received; except that in the case of services described in subsection (d)(2)(C), the amount involved shall be only the excess compensation. For purposes of the preceding sentence, the fair market value—
    (A) in the case of the taxes imposed by subsection (a), shall be determined as of the date on which the act of self-dealing occurs; and
    (B) in the case of taxes imposed by subsection (b), shall be the highest fair market value during the taxable period.
  • 26 U.S.C. § 4951(e)(2)(B)
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    (B) in the case of taxes imposed by subsection (b), shall be the highest fair market value during the taxable period.
  • 26 U.S.C. § 4958(c)(1)(A)
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    (A) The term “excess benefit transaction” means any transaction in which an economic benefit is provided by an applicable tax-exempt organization directly or indirectly to or for the use of any disqualified person if the value of the economic benefit provided exceeds the value of the consideration (including the performance of services) received for providing such benefit. For purposes of the preceding sentence, an economic benefit shall not be treated as consideration for the performance of services unless such organization clearly indicated its intent to so treat such benefit.
  • 26 U.S.C. § 4960(c)(5)(B)(ii)
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    (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 separation equals or exceeds an amount equal to 3 times the base amount.
  • 26 U.S.C. § 4968(d)(1)
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    (1) the aggregate fair market value of the assets of such institution (determined as of the end of the preceding taxable year), other than those assets which are used directly in carrying out the institution’s exempt purpose, divided by
  • 26 U.S.C. § 4968(h)
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    (h) The Secretary shall prescribe such regulations or other guidance as may be necessary to prevent avoidance of the tax under this section, including regulations or other guidance to prevent avoidance of such tax through the restructuring of endowment funds or other arrangements designed to reduce or eliminate the value of net investment income or assets subject to the tax imposed by this section.
  • 26 U.S.C. § 4973(a)
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    (a) In the case of—
    (1) an individual retirement account (within the meaning of section 408(a)),
    (2) an Archer MSA (within the meaning of section 220(d)),
    (3) an individual retirement annuity (within the meaning of section 408(b)), a custodial account treated as an annuity contract under section 403(b)(7)(A) (relating to custodial accounts for regulated investment company stock),
    (4) a Coverdell education savings account (as defined in section 530),
    (5) a health savings account (within the meaning of section 223(d)), or
    (6) an ABLE account (within the meaning of section 529A),
    there is imposed for each taxable year a tax in an amount equal to 6 percent of the amount of the excess contributions to such individual’s accounts or annuities (determined as of the close of the taxable year). The amount of such tax for any taxable year shall not exceed 6 percent of the value of the account or annuity (determined as of the close of the taxable year). In the case of an endowment contract described in section 408(b), the tax imposed by this section does not apply to any amount allocable to life, health, accident, or other insurance under such contract. The tax imposed by this subsection shall be paid by such individual.
  • 26 U.S.C. § 4975(d)(16)(D)
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    (D) such sale is for fair market value at the time of sale (as established by an independent appraiser) and the terms of the sale are otherwise at least as favorable to such trust as the terms that would apply on a sale to an unrelated party,
  • 26 U.S.C. § 4975(e)(2)(E)(i)
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    (i) the combined voting power of all classes of stock entitled to vote or the total value of shares of all classes of stock of a corporation,
  • 26 U.S.C. § 4975(e)(2)(G)(i)
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    (i) the combined voting power of all classes of stock entitled to vote or the total value of shares of all classes of stock of such corporation,
  • 26 U.S.C. § 4975(f)(4)
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    (4) The term “amount involved” means, with respect to a prohibited transaction, the greater of the amount of money and the fair market value of the other property given or the amount of money and the fair market value of the other property received; except that, in the case of services described in paragraphs (2) and (10) of subsection (d) the amount involved shall be only the excess compensation. For purposes of the preceding sentence, the fair market value—
    (A) in the case of the tax imposed by subsection (a), shall be determined as of the date on which the prohibited transaction occurs; and
    (B) in the case of the tax imposed by subsection (b), shall be the highest fair market value during the taxable period.
  • 26 U.S.C. § 4975(f)(4)(B)
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    (B) in the case of the tax imposed by subsection (b), shall be the highest fair market value during the taxable period.
  • 26 U.S.C. § 4975(f)(6)(A)
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    (A) In the case of a trust described in section 401(a) which is part of a plan providing contributions or benefits for employees some or all of whom are owner-employees (as defined in section 401(c)(3)), the exemptions provided by subsection (d) (other than paragraphs (9) and (12)) shall not apply to a transaction in which the plan directly or indirectly—
    (i) lends any part of the corpus or income of the plan to,
    (ii) pays any compensation for personal services rendered to the plan to, or
    (iii) acquires for the plan any property from, or sells any property to,
    any such owner-employee, a member of the family (as defined in section 267(c)(4)) of any such owner-employee, or any corporation in which any such owner-employee owns, directly or indirectly, 50 percent or more of the total combined voting power of all classes of stock entitled to vote or 50 percent or more of the total value of shares of all classes of stock of the corporation.
  • 26 U.S.C. § 4975(f)(7)
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    (7) A plan shall not be treated as violating the requirements of section 401 or 409 or subsection (e)(7), or as engaging in a prohibited transaction for purposes of subsection (d)(3), merely by reason of any distribution (as described in section 1368(a)) with respect to S corporation stock that constitutes qualifying employer securities, which in accordance with the plan provisions is used to make payments on a loan described in subsection (d)(3) the proceeds of which were used to acquire such qualifying employer securities (whether or not allocated to participants). The preceding sentence shall not apply in the case of a distribution which is paid with respect to any employer security which is allocated to a participant unless the plan provides that employer securities with a fair market value of not less than the amount of such distribution are allocated to such participant for the year which (but for the preceding sentence) such distribution would have been allocated to such participant.
  • 26 U.S.C. § 4975(f)(9)
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    (9) The term “block trade” means any trade of at least 10,000 shares or with a market value of at least $200,000 which will be allocated across two or more unrelated client accounts of a fiduciary.
  • 26 U.S.C. § 4975(f)(10)(B)
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    (B) in the case of an asset other than a security for which there is a generally recognized market, the fair market value of the asset as determined in good faith by a fiduciary or fiduciaries in accordance with regulations prescribed by the Secretary of Labor.
  • 26 U.S.C. § 4977(b)(1)
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    (1) the aggregate value of the fringe benefits provided by the employer during the calendar year which were not includible in gross income under paragraphs (1) and (2) of section 132(a), over
  • 26 U.S.C. § 4978(a)(2)
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    (2) except to the extent provided in regulations, the value of qualified securities held by such plan or cooperative after such disposition is less than 30 percent of the total value of all employer securities as of such disposition (60 percent of the total value of all employer securities as of such disposition in the case of any qualified employer securities acquired in a qualified gratuitous transfer to which section 664(g) applied),
  • 26 U.S.C. § 4978(b)(3)
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    (3) The amount realized on any distribution to an employee for less than fair market value shall be determined as if the qualified security had been sold to the employee at fair market value.
  • 26 U.S.C. § 4979A(e)(2)(B)
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    (B) The amount involved with respect to any tax imposed by reason of subsection (a)(4) is the value of the shares on which the synthetic equity is based.
  • 26 U.S.C. § 4979A(e)(2)(C)
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    (C) For purposes of subparagraph (A), the amount involved for the first nonallocation year of any employee stock ownership plan shall be determined by taking into account the total value of all the deemed-owned shares of all disqualified persons with respect to such plan.
  • 26 U.S.C. § 4980(c)(2)(A)
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    (A) The term “employer reversion” means the amount of cash and the fair market value of other property received (directly or indirectly) by an employer from the qualified plan.
  • 26 U.S.C. § 4980(c)(3)(C)(ii)(I)
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    (I) the annual addition (as determined under section 415(c)) attributable to each such allocation shall not exceed the value of such securities as of the time such securities were credited to such suspense account, and
  • 26 U.S.C. § 4980(d)(2)(B)(ii)
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    (ii) The amount determined under this clause is an amount equal to the present value of the aggregate increases in the accrued benefits under the terminated plan of any participants or beneficiaries pursuant to a plan amendment which—
    (I) is adopted during the 60-day period ending on the date of termination of the qualified plan, and
    (II) takes effect immediately on the termination date.
  • 26 U.S.C. § 4980(d)(3)(A)(i)
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    (i) have an aggregate present value not less than 20 percent of the maximum amount which the employer could receive as an employer reversion without regard to this subsection, and
  • 26 U.S.C. § 4980(d)(3)(B)
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    (B) For purposes of subparagraph (A), a pro rata increase is an increase in the present value of the accrued benefit of each qualified participant in an amount which bears the same ratio to the aggregate amount determined under subparagraph (A)(i) as—
    (i) the present value of such participant’s accrued benefit (determined without regard to this subsection), bears to
    (ii) the aggregate present value of accrued benefits of the terminated plan (as so determined).
    Notwithstanding the preceding sentence, the aggregate increases in the present value of the accrued benefits of qualified participants who are not active participants shall not exceed 40 percent of the aggregate amount determined under subparagraph (A)(i) by substituting “equal to” for “not less than”.
  • 26 U.S.C. § 4980(d)(3)(B)(i)
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    (i) the present value of such participant’s accrued benefit (determined without regard to this subsection), bears to
  • 26 U.S.C. § 4980(d)(3)(B)(ii)
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    (ii) the aggregate present value of accrued benefits of the terminated plan (as so determined).
  • 26 U.S.C. § 4980(d)(5)(B)
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    (B) Present value shall be determined as of the termination date and on the same basis as liabilities of the plan are determined on termination.
  • 26 U.S.C. § 4982(e)(6)(B)
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    (B) For purposes of this paragraph, the term “specified mark to market provision” means sections 1256 and 1296 and any other provision of this title (or regulations thereunder) which treats property as disposed of on the last day of the taxable year or which determines income by reference to the value of an item on the last day of the taxable year.
  • 26 U.S.C. § 4985(a)(2)
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    (2) the value (determined under subsection (b)) of the specified stock compensation held (directly or indirectly) by or for the benefit of such individual or a member of such individual’s family (as defined in section 267) at any time during the 12-month period beginning on the date which is 6 months before the expatriation date.
  • 26 U.S.C. § 4985(b)(1)
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    (1) The value of specified stock compensation shall be—
    (A) in the case of a stock option (or other similar right) or a stock appreciation right, the fair value of such option or right, and
    (B) in any other case, the fair market value of such compensation.
  • 26 U.S.C. § 4985(b)(1)(A)
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    (A) in the case of a stock option (or other similar right) or a stock appreciation right, the fair value of such option or right, and
  • 26 U.S.C. § 4985(b)(1)(B)
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    (B) in any other case, the fair market value of such compensation.
  • 26 U.S.C. § 4985(b)(2)
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    (2) The determination of value shall be made—
    (A) in the case of specified stock compensation held on the expatriation date, on such date,
    (B) in the case of such compensation which is canceled during the 6 months before the expatriation date, on the day before such cancellation, and
    (C) in the case of such compensation which is granted after the expatriation date, on the date such compensation is granted.
  • 26 U.S.C. § 4985(e)(3)(A)
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    (A) The term “specified stock compensation” means payment (or right to payment) granted by the expatriated corporation (or by any member of the expanded affiliated group which includes such corporation) to any person in connection with the performance of services by a disqualified individual for such corporation or member if the value of such payment or right is based on (or determined by reference to) the value (or change in value) of stock in such corporation (or any such member).
  • 26 U.S.C. § 4985(f)(3)
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    (3) Whether there is specified stock compensation, and the value thereof, shall be determined without regard to any restriction other than a restriction which by its terms will never lapse.

Citations to §4462(b)(2)