Tax Rate Published for Railroad Retirement Annuity Program
65 F.R. 55066
- Institutional AuthorsRailroad Retirement Board
- Code Sections
- Subject Area/Tax Topics
- Index TermsRRTA taxRRTA tax, employers, rateRRTA tax, employee reps, rate
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2000-23697 (1 original page)
- Tax Analysts Electronic Citation2000 TNT 178-26
=============== SUMMARY ===============
The Railroad Retirement Board has determined that the excise tax rate under section 3221(c) imposed on employers for each work hour of compensation paid will be 26.5 cents for the quarter beginning October 1, 2000. The board has also determined that for the same quarter, 38.3 percent of the taxes collected under sections 3211(b) and 3221(c) shall be credited to the Railroad Retirement Account, with 61.7 percent of those taxes plus all of the taxes collected under section 3221(d) credited to the Railroad Retirement Supplemental Account.
=============== FULL TEXT ===============
RAILROAD RETIREMENT BOARD
[1] In accordance with directions in Section 3221(a) of the Railroad Retirement Tax Act (26 U.S.C., Section 3221(c)), the Railroad Retirement Board has determined that the excise tax imposed by such Section 3221(c) on every employer, with respect to having individuals in his employ, for each work-hour for which compensation is paid by such employer for services rendered to him during the quarter beginning October 1, 2000, shall be at the rate of 26-1/2 cents.
[2] In accordance with directions in Section 15(a) of the Railroad Retirement Act of 1974, the Railroad Retirement Board has determined that for the quarter beginning October 1, 2000, 38.3 percent of the taxes collected under Sections 3211(b) and 3221(c) of the Railroad Retirement Tax Act shall be credited to the Railroad Retirement Account and 61.7 percent of the taxes collected under such Sections 3211(b) and 3221(c) plus 100 percent of the taxes collected under Section 3221(d) of the Railroad Retirement Tax Act shall be credited to the Railroad Retirement Supplemental Account.
[3] By Authority of the Board.
[4] Dated: August 30, 2000.
Beatrice Ezerski,
Secretary to the Board
- Institutional AuthorsRailroad Retirement Board
- Code Sections
- Subject Area/Tax Topics
- Index TermsRRTA taxRRTA tax, employers, rateRRTA tax, employee reps, rate
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2000-23697 (1 original page)
- Tax Analysts Electronic Citation2000 TNT 178-26