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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

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Shown source

statutes/26/3405/b.yaml

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Rules

nonperiodic_distribution_withholding_rate

Parameter

source: 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'

nonperiodic_distribution_withholding

Derived

source: 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)

election_scope_for_current_nonperiodic_distribution

Derived

source: 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

election_scope_for_subsequent_nonperiodic_distributions

Derived

source: 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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us/statute/26/3405/b/2 — Election of no withholding · Axiom

Election of no withholding

Official source

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

in view

Whole section

▸rulespec code

Shown source

statutes/26/3405/b.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/3405/b; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

nonperiodic_distribution_withholding_rate

Parameter

source: 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'

nonperiodic_distribution_withholding

Derived

source: 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)

election_scope_for_current_nonperiodic_distribution

Derived

source: 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

election_scope_for_subsequent_nonperiodic_distributions

Derived

source: 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