§ 1411 Imposition of tax

Terms Used In U.S. Code > Title 26 > Subtitle A > Chapter 2A - Unearned Income Medicare Contribution

  • Board: means the Railroad Retirement Board. See 45 USC 1002
  • employee: includes any employee of the Rock Island Railroad as of August 1, 1979, but does not include any individual serving as president, vice-president, secretary, treasurer, comptroller, counsel, member of the board of directors, or any other person performing such functions. See 45 USC 1002
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
  • joint return: means a single return made jointly under section 6013 by a husband and wife. See 26 USC 7701
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • partnership: includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation. See 26 USC 7701
  • Rock Island Railroad: means the Chicago, Rock Island and Pacific Railroad Company, the estate of such Company in its reorganization proceeding, or the trustee appointed in such proceeding. See 45 USC 1002
  • Secretary: means the Secretary of Transportation. See 45 USC 1002
  • taxable year: means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. See 26 USC 7701
  • taxpayer: means any person subject to any internal revenue tax. See 26 USC 7701
  • trade or business: includes the performance of the functions of a public office. See 26 USC 7701