§ 531. Imposition of accumulated earnings tax

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1954

   Aug. 16, 1954, ch. 736, 68A Stat. 179 · 68A Stat. 179

   Enacted · 26 U.S.C. § 531

   Aug. 16, 1954, ch. 736, 68A Stat. 179

   Source evidence

   Code source credit
   Aug. 16, 1954, ch. 736, 68A Stat. 179

2. 1988

   Technical and Miscellaneous Revenue Act of 1988

   Pub. L. 100–647 title I § 1001(a)(2)(A) · 102 Stat. 3342

   Amended · 26 U.S.C. § 531

   Pub. L. 100–647 amended section generally. Prior to amendment, section read as follows: “In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the accumulated taxable income (as defined in section 535) of every corporation described in section 532, an accumulated earnings tax equal to the sum of—

   Source evidence

   Code amendment note
   Pub. L. 100–647 amended section generally. Prior to amendment, section read as follows: “In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the accumulated taxable income (as defined in section 535) of every corporation described in section 532, an accumulated earnings tax equal to the sum of—

   “(1) 27½ percent of the accumulated taxable income not in excess of $100,000, plus “(2) 38½ percent of the accumulated taxable income in excess of $100,000.”

   Enacted provision · exact public law section
   (A) Section 531 of the 1986 Code is amended to read as follows: “SEC. 531. IMPOSITION OF ACCUMULATED EARNINGS TAX. “In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the accumulated taxable income (as defined in section 535) of each corporation described in section 532, an accumulated earnings tax equal to 28 percent of the accumulated taxable income.”

3. 1993

   Revenue Reconciliation Act of 1993

   Pub. L. 103–66 § 13202(b) · 107 Stat. 312

   Substituted · 26 U.S.C. § 531

   Pub. L. 103–66, § 13202(b), substituted “39.6 percent” for “36 percent”

   Source evidence

   Code amendment note
   Pub. L. 103–66, § 13202(b), substituted “39.6 percent” for “36 percent”.

   Enacted provision · exact public law section
   (b) Technical Amendment.— Sections 531 and 541 (as amended by section 13201) are each amended by striking “36 percent” and inserting “39.6 percent”.

4. 1993

   Revenue Reconciliation Act of 1993

   Pub. L. 103–66 § 13201(b)(1) · 107 Stat. 312

   Substituted · 26 U.S.C. § 531

   Pub. L. 103–66, § 13201(b)(1), substituted “36 percent” for “28 percent”

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 103–66, § 13201(b)(1), substituted “36 percent” for “28 percent”.

   Enacted provision · exact public law section
   (1) Section 531 is amended by striking “28 percent” and 26 USC 531. inserting “36 percent”.

5. 2001

   Pub. L. 107–16 title I § 101(c)(4) · 115 Stat. 38

   Substituted · 26 U.S.C. § 531

   Pub. L. 107–16 substituted “equal to the product of the highest rate of tax under section 1(c) and the accumulated taxable income.” for “equal to 39.6 percent of the accumulated taxable income.”

   Source evidence

   Code amendment note
   Pub. L. 107–16 substituted “equal to the product of the highest rate of tax under section 1(c) and the accumulated taxable income.” for “equal to 39.6 percent of the accumulated taxable income.”

   Enacted provision · exact public law section
   (4) Section 531 is amended by striking “equal to” and all that follows and inserting “equal to the product of the highest rate of tax under section 1(c) and the accumulated taxable income.”.

6. 2003

   Pub. L. 108–27 title III § 302(e)(5) · 117 Stat. 752

   Substituted · 26 U.S.C. § 531

   Pub. L. 108–27 substituted “equal to 15 percent of the accumulated taxable income.” for “equal to the product of the highest rate of tax under section 1(c) and the accumulated taxable income.”

   Source evidence

   Code amendment note
   Pub. L. 108–27 substituted “equal to 15 percent of the accumulated taxable income.” for “equal to the product of the highest rate of tax under section 1(c) and the accumulated taxable income.”

   Enacted provision · exact public law section
   (5) Section 531 is amended by striking “equal to” and all that follows and inserting “equal to 15 percent of the accumulated taxable income.”.

7. 2013

   American Taxpayer Relief Act of 2012

   Pub. L. 112–240 title I § 102(c)(1)(A) · 126 Stat. 2313

   Substituted · 26 U.S.C. § 531

   Pub. L. 112–240 substituted “20 percent” for “15 percent”

   Source evidence

   Code amendment note
   Pub. L. 112–240 substituted “20 percent” for “15 percent”.

   Enacted provision · exact public law section
   (A) Section 531.

   Effective date note
   Amendment by Pub. L. 112–240 applicable to taxable years beginning after Dec. 31, 2012, see section 102(d)(1) of Pub. L. 112–240, set out as a note under section 1 of this title.

6 of 7 references resolved to an enrolled provision · 1 partial