instrumentality business definition

In the case of any taxpayer engaged in the trade or business of conducting activities described in paragraph (1), paragraph (1) shall not apply to expenditures of the taxpayer in conducting such activities directly on behalf of another person (but shall apply to payments by such other person to the taxpayer for conducting such activities). (n). L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. he shall be deemed to have expended for living expenses (in connection with his trade or business as a legislator) an amount equal to the sum of the amounts determined by multiplying each legislative day of such individual during the taxable year by the amount generally allowable with respect to such day to employees of the executive branch of the Federal Government for per diem while away from home but serving in the United States. For complete classification of this Act to the Code, see Short Title note set out under section 5201 of Title 12 and Tables. is paid to come into compliance with any law which was violated or otherwise involved in the investigation or inquiry described in paragraph (1), is identified as restitution or as an amount paid to come into compliance with such law, as the case may be, in the court order or settlement agreement, and. 2014—Subsec. such employee is the principal executive officer or principal financial officer of the taxpayer at any time during the taxable year, or was an individual acting in such a capacity, the total compensation of such employee for the taxable year is required to be reported to shareholders under the. (a)(2). (5) redesignated (6). Term Definition; Acquisition cost: The cost of the asset including the cost to ready the asset for its intended use. Pub. No deduction shall be allowed under paragraph (1) to the extent that the amount of such deduction exceeds the taxpayer’s earned income (within the meaning of section 401(c)) derived by the taxpayer from the trade or business with respect to which the plan providing the medical care coverage is established. (e)(2) to (8). (k). (l)(2)(B). a reasonable allowance for salaries or other compensation for personal services actually rendered; traveling expenses (including amounts expended for meals and lodging other than amounts which are lavish or extravagant under the circumstances) while away from home in the pursuit of a trade or business; and. (l)(1). (G) as (E). 1275; Pub. Pub. (2) as (3). (k)(3). For purposes of this subsection, the following nongovernmental entities shall be treated as governmental entities: Treble damage payments under the antitrust laws, If in a criminal proceeding a taxpayer is convicted of a violation of the antitrust laws, or his plea of guilty or nolo contendere to an indictment or information charging such a violation is entered or accepted in such a proceeding, no deduction shall be allowed under subsection (a) for two-thirds of any amount paid or incurred—, State legislators’ travel expenses away from home, For purposes of subsection (a), in the case of any individual who is a State legislator at any time during the taxable year and who makes an election under this subsection for the taxable year—, he shall be deemed to have expended for living expenses (in connection with his trade or business as a legislator) an amount equal to the sum of the amounts determined by multiplying each legislative day of such individual during the taxable year by the greater of—, For purposes of paragraph (1), a legislative day during any taxable year for any individual shall be any day during such year on which—, Section not to apply to legislators who reside near capitol, Stock of certain regulated investment companies, Special rules for health insurance costs of self-employed individuals, In the case of a taxpayer who is an employee within the meaning of section 401(c)(1), there shall be allowed as a deduction under this section an amount equal to the amount paid during the taxable year for insurance which constitutes medical care for—, Paragraph (1) shall not apply to any taxpayer for any calendar month for which the taxpayer is eligible to participate in any subsidized health plan maintained by any employer of the taxpayer or of the spouse of, or any dependent, or individual described in subparagraph (D) of paragraph (1) with respect to, the taxpayer. Pub. L. 85–866, set out as a note under section 6511 of this title. Amendment by section 311(a) of Pub. (m). (6) “Termination” which read as follows: “This subsection shall not apply to any taxable year beginning after December 31, 1993.”. (q) as (r), then (s). L. 104–191, § 322(b)(2)(B), added subpar. Pub. L. 108–357, § 802(b)(2), added subpar. 1672, as amended by Pub. Subsec. (p), (q). Subsec. 2132, provided that: Pub. L. 103–66, title XIII, § 13442(b), Aug. 10, 1993, 107 Stat. L. 101–239, § 7862(c)(3)(A), amended cl. See 1982 Amendment note above. L. 115–97, § 13601(a)(2)(A), substituted “subparagraph (B)” for “subparagraphs (B), (C), and (D)”. L. 115–97, § 11002(d)(6), substituted “adjusted by increasing any such amount under the 1991 agreement by an amount equal to—” and subpars. L. 99–514, see section 203(c) of Pub. the legislature was in session (including any day in which the legislature was not in session for a period of 4 consecutive days or less), or. (B) relating to an exemption to the term “applicable employee remuneration” and former subpar. Remuneration shall not fail to be applicable employee remuneration merely because it is includible in the income of, or paid to, a person other than the covered employee, including after the death of the covered employee. (l)(2)(C). Subsec. (k), relating to cross references, as (l). L. 95–30, title III, § 307, May 23, 1977, 91 Stat. (l) of this section with respect to such individual for such taxable year, and that for purposes of subsec. For purposes of this subtitle, whenever the amount of capital contributions evidenced by a share of stock issued pursuant to section 303(c) of the Federal National Mortgage Association Charter Act (12 U.S.C., sec.

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