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Nonperiodic distribution

4 rules0 of 2 subsections

(1) Withholding

(1)Withholding#

The payor of any nonperiodic distribution (as defined in subsection (e)(3)) shall withhold from such distribution an amount equal to 10 percent of such distribution.

(2)Election of no withholding#

(A) In general An individual may elect not to have paragraph (1) apply with respect to any nonperiodic distribution.

(B) Scope of election An election under subparagraph (A)— (i) except as provided in clause (ii), shall be on a distribution-by-distribution basis, or (ii) to the extent provided in regulations, may apply to subsequent nonperiodic distributions made by the payor to the payee under the same arrangement.

in view

Whole section

Encodings · 4

nonperiodic_distribution_withholding_rate26 USC § 3405 (b) · parameter

26 USC 3405(b)(1)

name: nonperiodic_distribution_withholding_rate
kind: parameter
dtype: Rate
source: 26 USC 3405(b)(1)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: parameter
        source:
          corpus_citation_path: us/statute/26/3405
          excerpt: an amount equal to 10 percent of such distribution
versions:
  - effective_from: '1990-01-01'
    formula: '0.10'

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nonperiodic_distribution_withholding26 USC § 3405 (b) · derived

26 USC 3405(b)(1), 3405(b)(2)(A)

name: nonperiodic_distribution_withholding
kind: derived
entity: Payment
dtype: Money
period: Year
unit: USD
source: 26 USC 3405(b)(1), 3405(b)(2)(A)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us/statute/26/3405
          excerpt: >-
            The payor of any nonperiodic distribution ... shall withhold from
            such distribution an amount equal to 10 percent of such
            distribution.
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us/statute/26/3405
          excerpt: >-
            An individual may elect not to have paragraph (1) apply with respect
            to any nonperiodic distribution.
      - path: versions[0].formula
        kind: import
        import:
          target: us:statutes/26/3405/b#nonperiodic_distribution_withholding_rate
          output: nonperiodic_distribution_withholding_rate
          hash: sha256:local
versions:
  - effective_from: '1990-01-01'
    formula: >-
      if individual_elects_no_withholding_for_nonperiodic_distribution: 0 else:
      nonperiodic_distribution_withholding_rate * max(0,
      nonperiodic_distribution_amount)

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election_scope_for_current_nonperiodic_distribution26 USC § 3405 (b) · derived

26 USC 3405(b)(2)(B)(i)

name: election_scope_for_current_nonperiodic_distribution
kind: derived
entity: Payment
dtype: Judgment
period: Year
source: 26 USC 3405(b)(2)(B)(i)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3405
          excerpt: shall be on a distribution-by-distribution basis
versions:
  - effective_from: '1990-01-01'
    formula: individual_elects_no_withholding_for_nonperiodic_distribution

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election_scope_for_subsequent_nonperiodic_distributions26 USC § 3405 (b) · derived

26 USC 3405(b)(2)(B)(ii)

name: election_scope_for_subsequent_nonperiodic_distributions
kind: derived
entity: Payment
dtype: Judgment
period: Year
source: 26 USC 3405(b)(2)(B)(ii)
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us/statute/26/3405
          excerpt: >-
            to the extent provided in regulations, may apply to subsequent
            nonperiodic distributions made by the payor to the payee under the
            same arrangement
versions:
  - effective_from: '1990-01-01'
    formula: >-
      regulations_provide_election_may_apply_to_subsequent_nonperiodic_distributions

      and
      subsequent_nonperiodic_distribution_made_by_same_payor_to_payee_under_same_arrangement

      and individual_elects_no_withholding_for_nonperiodic_distribution

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▸rulespec code

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statutes/26/3405/b.yaml

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