Sec 4911 Tax On Excess Expenditures To Influence Legislation 2016-2024

Sec 4911 Tax On Excess Expenditures To Influence Legislation: What You Should Know

This tax is referred to as the excess lobbying dis- attribution tax. Excess lobbying dis- attribution tax is imposed. (1) In general. There is hereby imposed on the excess expenditures, 100. For each such excess; (2) Exceptions. This tax shall not be imposed with respect to-- (i) the election period to take an election described In section 48A(c)(2)(A)(ii); (ii) the election period to take an election described in section 48A(c)(2)(B); (iii) a single payment by such taxpayer to an organization described In section 47(a)(1)(A); (iv) an event described in section 46. (b) Reporting. Except as provided In § 1.460-6(c), each reporting covered person must file a disclosure report concerning each excess dis- attribution described in section 4911(a) (1) of this section, and § 2634.9(a) with a required Form 1099. The reporting covered person must file that report with respect to each covered person described In section 4911(a) (1)(i) and (1)(ii) in which the covered person has, directly or indirectly, a material relationship, in an aggregate amount greater than 1,000, during the covered person's 1-year reporting period. Exceptions. This section does not impose on any person., other than a regulated person under regulations promulgated under section 16(h)(3) of the Lobbying Disclosure Act of 1995, the requirements of the Lobbying Disclosure Act of 1995. An expatriated covered person who would be required to file a Form 5500A under section 301 of the Lobbying Disclosure Act of 1995 and who is not a regulated person has no duty to file such report. TITLE 26 — INTERNAL REVENUE CODE Chapter 45, Taxation Sec. 2 — Expatriation Sec. 901 — Expatriation by corporations Sec. 902 — Disqualified status Sec. 903 — Exempt- tion from taxation Sec. 904 — Effective date Sec. 905 — Withdrawal of deferred taxation Sec. 606 — Withdrawal of liability Sec.

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