26 U.S.C. § 3321
§ 3321. Imposition of tax
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Added in 1983 by the Public Law 98-76. Last changed November 10, 1988 by the Technical and Miscellaneous Revenue Act of 1988.
Every change, newest first (3)
- November 10, 1988Technical and Miscellaneous Revenue Act of 1988
- April 7, 1986Public Law 99-272
- August 12, 1983Public Law 98-76 · added this section
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Structure
There is hereby imposed on every rail employer for each calendar month an excise tax, with respect to having individuals in his employ, equal to 4 percent of the total rail wages paid by him during such month.
There is hereby imposed on the income of each employee representative a tax equal to 4 percent of the rail wages paid to him during the calendar month.
The rail wages of an employee representative for purposes of paragraph (1) shall be determined in the same manner and with the same effect as if the employee organization by which such employee representative is employed were a rail employer.
The tax imposed by this section shall not apply to rail wages paid on or after the 1st day of any calendar month if, as of such 1st day, there is—
no balance of transfers made before October 1, 1985, to the railroad unemployment insurance account under section 10(d) of the Railroad Unemployment Insurance Act, and
no unpaid interest on such transfers.