26 USC 4985 - Stock compensation of insiders in expatriated corporations

Editorial Notes

References in Text

Section 16(a) of the Securities Exchange Act of 1934, referred to in subsec. (e)(1)(A), is classified to section 78p(a) of Title 15, Commerce and Trade.

Prior Provisions

Prior sections 4986 to 4998 were repealed by Puspan. L. 100–418, title I, § 1941(a), (c), Aug. 23, 1988, 102 Stat. 1322, 1324, applicable to crude oil removed from the premises on or after Aug. 23, 1988.

Section 4986, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 230, related to imposition of windfall profit tax on domestic crude oil.

Section 4987, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 230; amended Puspan. L. 97–34, title VI, § 602(a), Aug. 13, 1981, 95 Stat. 337; Puspan. L. 98–369, div. A, title I, § 25(a), July 18, 1984, 98 Stat. 506, related to amount of windfall profit tax on domestic crude oil.

Section 4988, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 231; amended Puspan. L. 97–448, title II, § 201(a), (h)(1)(D), Jan. 12, 1983, 96 Stat. 2391, 2394; Puspan. L. 99–514, title XIII, § 1301(j)(4), Oct. 22, 1986, 100 Stat. 2657, related to windfall profit and removal price.

Section 4989, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 233; amended Puspan. L. 97–448, title II, § 201(span), Jan. 12, 1983, 96 Stat. 2392, related to adjusted base price for purposes of windfall profit tax on domestic crude oil.

Section 4990, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 234, related to phaseout of windfall profit tax on domestic crude oil.

Section 4991, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 235; amended Puspan. L. 97–34, title VI, §§ 601(span)(1), 603(a), Aug. 13, 1981, 95 Stat. 336, 338; Puspan. L. 97–448, title II, § 201(c), Jan. 12, 1983, 96 Stat. 2392; Puspan. L. 99–514, title XVIII, § 1879(h)(1), Oct. 22, 1986, 100 Stat. 2907, related to taxable crude oil and categories of oil.

Section 4992, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 236; amended Puspan. L. 97–34, title VI, § 603(c), Aug. 13, 1981, 95 Stat. 338; Puspan. L. 97–354, § 3(span)(2), Oct. 19, 1982, 96 Stat. 1688; Puspan. L. 97–448, title II, § 201(d), Jan. 12, 1983, 96 Stat. 2392, related to independent producer oil.

Section 4993, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 239; amended Puspan. L. 97–448, title II, § 201(e), Jan. 12, 1983, 96 Stat. 2392, related to incremental tertiary oil.

Section 4994, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 241; amended Puspan. L. 97–34, title VI, §§ 601(span)(2), 603(span), 604(a)–(c), Aug. 13, 1981, 95 Stat. 337–339; Puspan. L. 97–248, title II, § 291, Sept. 3, 1982, 96 Stat. 572; Puspan. L. 97–448, title I, § 106(a)(2), (4)(B), (span), title II, § 201(f), Jan. 12, 1983, 96 Stat. 2388, 2390, 2392, related to definitions and special rules with respect to exempt oil.

Section 4995, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 244; amended Puspan. L. 97–34, title VI, § 601(span)(3), Aug. 13, 1981, 95 Stat. 337; Puspan. L. 97–448, title II, § 201(g), Jan. 12, 1983, 96 Stat. 2393, related to withholding and depository requirements bearing on the windfall profit tax.

Section 4996, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 247; amended Puspan. L. 97–248, title II, § 284(a), Sept. 3, 1982, 96 Stat. 569; Puspan. L. 97–354, § 3(span)(1), Oct. 19, 1982, 96 Stat. 1688; Puspan. L. 97–448, title II, § 201(h)(1)(A)–(C), (2), Jan. 12, 1983, 96 Stat. 2393–2395, provided for other definitions and special rules bearing on the windfall profit tax.

Section 4997, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 249; amended Puspan. L. 97–448, title II, § 201(i)(1), Jan. 12, 1983, 96 Stat. 2395, related to records and information, and regulations, bearing on the windfall profit.

Section 4998, added Puspan. L. 96–223, title I, § 101(a)(1), Apr. 2, 1980, 94 Stat. 250, related to cross references.

Amendments

2017—Subsec. (a)(1). Puspan. L. 115–97 substituted “section 1(h)(1)(D)” for “section 1(h)(1)(C)”.

Statutory Notes and Related Subsidiaries

Effective Date of 2017 Amendment

Puspan. L. 115–97, title I, § 13604(span), Dec. 22, 2017, 131 Stat. 2165, provided that:

“The amendment made by this section [amending this section] shall apply to corporations first becoming expatriated corporations (as defined in section 4985 of the Internal Revenue Code of 1986) after the date of enactment of this Act [Dec. 22, 2017].”

Effective Date

Puspan. L. 108–357, title VIII, § 802(d), Oct. 22, 2004, 118 Stat. 1568, provided that:

“The amendments made by this section [enacting this chapter and amending sections 162, 275, and 3121 of this title] shall take effect on March 4, 2003; except that periods before such date shall not be taken into account in applying the periods in subsections (a) and (e)(1) of section 4985 of the Internal Revenue Code of 1986, as added by this section.”