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Annualized tax

For purposes of paragraph (1), the term “annualized tax” means, with respect to any payment, the amount of tax which would be imposed by section 1(c) 1 (determined without regard to any rate of tax in excess of the fourth lowest rate of tax applicable under section 1(c) 1 ) on an amount of taxable income equal to the excess of—

(A) the annualized amount of such payment, over

(B) the amount determined under paragraph (2).

in view

Whole section

▸rulespec code

Shown source

statutes/26/3402/r.yaml

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Rules

indian_casino_profit_payment_withholding_predicate

Derived

source: 26 USC 3402(r)(1)

- name: indian_casino_profit_payment_withholding_predicate
  kind: derived
  entity: Payment
  dtype: Judgment
  period: Year
  source: 26 USC 3402(r)(1)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/3402
            excerpt: >-
              Every person, including an Indian tribe, making a payment to a member of an Indian
              tribe from the net revenues of any class II or class III gaming activity conducted or
              licensed by such tribe
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/3402
            excerpt: shall deduct and withhold from such payment a tax
  versions:
    - effective_from: '0001-01-01'
      formula: |-
        payer_makes_payment
        and payment_is_to_member_of_indian_tribe
        and payment_is_from_net_revenues_of_class_II_or_class_III_gaming_activity
        and gaming_activity_is_conducted_or_licensed_by_that_tribe

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us/statute/26/3402/r/3 — Annualized tax · Axiom