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Plans under section 501(c)(18)

Notwithstanding paragraph (1), the amount allowable as a deduction under subsection (a) with respect to any contributions on behalf of an employee to a plan described in section 501(c)(18) shall not exceed the lesser of—

(A) $7,000, or

(B) an amount equal to 25 percent of the compensation (as defined in section 415(c)(3)) includible in the individual’s gross income for such taxable year.

in view

Whole section

▸rulespec code

Shown source

statutes/26/219/b.yaml

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Rules

statutory_deductible_amount_base

Parameter

source: IRC section 219(b)(5)(A)

- name: statutory_deductible_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: The deductible amount is $5,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '5000'

catch_up_age_threshold

Parameter

source: IRC section 219(b)(5)(B)(i)

- name: catch_up_age_threshold
  kind: parameter
  dtype: Count
  source: IRC section 219(b)(5)(B)(i)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: has attained the age of 50 before the close of the taxable year
  versions:
    - effective_from: '1990-01-01'
      formula: '50'

catch_up_applicable_amount_base

Parameter

source: IRC section 219(b)(5)(B)(ii)

- name: catch_up_applicable_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(B)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '1000'

deductible_amount_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(ii)

- name: deductible_amount_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $500, such amount shall be rounded to the next lower multiple of
              $500.
  versions:
    - effective_from: '1990-01-01'
      formula: '500'

catch_up_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(iii)

- name: catch_up_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(iii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $100, such amount shall be rounded to the next lower multiple of
              $100.
  versions:
    - effective_from: '1990-01-01'
      formula: '100'

plan_contribution_limit_amount

Parameter

source: IRC section 219(b)(3)(A)

- name: plan_contribution_limit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(3)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: shall not exceed the lesser of— (A) $7,000
  versions:
    - effective_from: '1990-01-01'
      formula: '7000'

plan_contribution_compensation_limit_rate

Parameter

source: IRC section 219(b)(3)(B)

- name: plan_contribution_compensation_limit_rate
  kind: parameter
  dtype: Rate
  source: IRC section 219(b)(3)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: 25 percent of the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: '0.25'

section_applies_to_contribution

Derived

source: IRC section 219(b)(2), (4)

- name: section_applies_to_contribution
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: IRC section 219(b)(2), (4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to an employer contribution to a simplified
              employee pension.
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to any amount contributed to a simple
              retirement account
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        not contribution_is_employer_contribution_to_simplified_employee_pension
        and not contribution_is_amount_contributed_to_simple_retirement_account

deductible_amount_before_compensation_limit

Derived

source: IRC section 219(b)(5)

- name: deductible_amount_before_compensation_limit
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the deductible amount is $5,000
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: attained the age of 50 before the close of the taxable year
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        statutory_deductible_amount_base + (if age >= catch_up_age_threshold:
        catch_up_applicable_amount_base else: 0)

maximum_general_deduction_amount

Derived

source: IRC section 219(b)(1)

- name: maximum_general_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) the deductible amount, or (B) an amount equal to
              the compensation includible in the individual’s gross income
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(deductible_amount_before_compensation_limit, max(0,
        compensation_includible_in_gross_income))

maximum_plan_contribution_deduction_amount

Derived

source: IRC section 219(b)(3)

- name: maximum_plan_contribution_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) $7,000, or (B) an amount equal to 25 percent of
              the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        if contribution_on_behalf_of_employee_to_plan_described_in_section_501_c_18:
        min(plan_contribution_limit_amount, plan_contribution_compensation_limit_rate * max(0,
        compensation)) else: 0

▸citations (2)

References

This rule cites 2 other rules.

26 USC § 501 (c)(18)inferredUS Federal › Statutes › Title 26 › § 501 › (c)(18)
26 USC § 415 (c)(3)inferredUS Federal › Statutes › Title 26 › § 415 › (c)(3)

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us/statute/26/219/b/3 — Plans under section 501(c)(18) · Axiom

Plans under section 501(c)(18)

Official source

(A) $7,000, or

(B) an amount equal to 25 percent of the compensation (as defined in section 415(c)(3)) includible in the individual’s gross income for such taxable year.

in view

Whole section

▸rulespec code

Shown source

statutes/26/219/b.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/219/b; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

statutory_deductible_amount_base

Parameter

source: IRC section 219(b)(5)(A)

- name: statutory_deductible_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: The deductible amount is $5,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '5000'

catch_up_age_threshold

Parameter

source: IRC section 219(b)(5)(B)(i)

- name: catch_up_age_threshold
  kind: parameter
  dtype: Count
  source: IRC section 219(b)(5)(B)(i)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: has attained the age of 50 before the close of the taxable year
  versions:
    - effective_from: '1990-01-01'
      formula: '50'

catch_up_applicable_amount_base

Parameter

source: IRC section 219(b)(5)(B)(ii)

- name: catch_up_applicable_amount_base
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(B)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000.
  versions:
    - effective_from: '1990-01-01'
      formula: '1000'

deductible_amount_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(ii)

- name: deductible_amount_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(ii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $500, such amount shall be rounded to the next lower multiple of
              $500.
  versions:
    - effective_from: '1990-01-01'
      formula: '500'

catch_up_cost_of_living_rounding_multiple

Parameter

source: IRC section 219(b)(5)(C)(iii)

- name: catch_up_cost_of_living_rounding_multiple
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(5)(C)(iii)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              not a multiple of $100, such amount shall be rounded to the next lower multiple of
              $100.
  versions:
    - effective_from: '1990-01-01'
      formula: '100'

plan_contribution_limit_amount

Parameter

source: IRC section 219(b)(3)(A)

- name: plan_contribution_limit_amount
  kind: parameter
  dtype: Money
  unit: USD
  source: IRC section 219(b)(3)(A)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: shall not exceed the lesser of— (A) $7,000
  versions:
    - effective_from: '1990-01-01'
      formula: '7000'

plan_contribution_compensation_limit_rate

Parameter

source: IRC section 219(b)(3)(B)

- name: plan_contribution_compensation_limit_rate
  kind: parameter
  dtype: Rate
  source: IRC section 219(b)(3)(B)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: parameter
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: 25 percent of the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: '0.25'

section_applies_to_contribution

Derived

source: IRC section 219(b)(2), (4)

- name: section_applies_to_contribution
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: IRC section 219(b)(2), (4)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to an employer contribution to a simplified
              employee pension.
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              This section shall not apply with respect to any amount contributed to a simple
              retirement account
  versions:
    - effective_from: '1990-01-01'
      formula: |-
        not contribution_is_employer_contribution_to_simplified_employee_pension
        and not contribution_is_amount_contributed_to_simple_retirement_account

deductible_amount_before_compensation_limit

Derived

source: IRC section 219(b)(5)

- name: deductible_amount_before_compensation_limit
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(5)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the deductible amount is $5,000
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: attained the age of 50 before the close of the taxable year
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: the applicable amount is $1,000
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        statutory_deductible_amount_base + (if age >= catch_up_age_threshold:
        catch_up_applicable_amount_base else: 0)

maximum_general_deduction_amount

Derived

source: IRC section 219(b)(1)

- name: maximum_general_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) the deductible amount, or (B) an amount equal to
              the compensation includible in the individual’s gross income
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        min(deductible_amount_before_compensation_limit, max(0,
        compensation_includible_in_gross_income))

maximum_plan_contribution_deduction_amount

Derived

source: IRC section 219(b)(3)

- name: maximum_plan_contribution_deduction_amount
  kind: derived
  entity: Person
  dtype: Money
  unit: USD
  period: Year
  source: IRC section 219(b)(3)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/219/b
            excerpt: >-
              shall not exceed the lesser of— (A) $7,000, or (B) an amount equal to 25 percent of
              the compensation
  versions:
    - effective_from: '1990-01-01'
      formula: >-
        if contribution_on_behalf_of_employee_to_plan_described_in_section_501_c_18:
        min(plan_contribution_limit_amount, plan_contribution_compensation_limit_rate * max(0,
        compensation)) else: 0

▸citations (2)

References

This rule cites 2 other rules.

26 USC § 501 (c)(18)inferredUS Federal › Statutes › Title 26 › § 501 › (c)(18)
26 USC § 415 (c)(3)inferredUS Federal › Statutes › Title 26 › § 415 › (c)(3)