Golden Parachute Payment Contingencies

Kennard, Alan L.
October 2004
Corporate Business Taxation Monthly;Oct2004, Vol. 6 Issue 1, p9
Trade Publication
The article reports on final regulations issued by Internal Revenue Service concerning golden parachute payments that provide guidance to taxpayers relating to the denial of corporate deductions and the imposition of a 20-percent excise tax. This excise tax is imposed on an individual for certain compensatory payments, termed "golden parachute payments." Special golden parachute rules apply regarding payments under agreements entered into after a change in ownership or control. a "substantial risk of forfeiture." A payment is treated as contingent on a change in ownership or control on the happening of certain events.


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