TITLE

S Corp ESOPs: Two Hot Topics

AUTHOR(S)
Goldberg, Laurence A.
PUB. DATE
October 2004
SOURCE
Venulex Legal Summaries;2004 Q4, p1
SOURCE TYPE
Law
DOC. TYPE
Article
ABSTRACT
The article offers information on the law governing the employee stock option plans (ESOP) of subchapter S corporations in the U.S. The American Jobs Creation Act of 2004 allows the ESOP of S corporations to make loan payments through cash distributions paid on shares from loan proceeds. Under the Internal Revenue Code section 409 (p), S corporations sponsoring ESOP are subject to an excise tax. Excise tax is applicable if 50% or more of an S corporation stock is owned by disqualified persons.
ACCESSION #
23531408

 

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