26 U.S.C. 1042: Sales of stock to employee stock ownership plans or certain cooperatives

2022

• Pub. L. 117–328, §114(a), substituted "domestic corporation" for "domestic C corporation". Law text · (c)
• Pub. L. 117–328, §114(b), added subsec. (h). Law text · (h)

1997

• Pub. L. 105–34 added subsec. (g). (Taxpayer Relief Act of 1997) Law text · (g)

1996

• Pub. L. 104–188, §1316(d)(3), substituted "domestic C corporation" for "domestic corporation". (Small Business Job Protection Act of 1996) Law text · (c)
• Pub. L. 104–188, §1704(t)(50), provided that section 11801(c)(9)(H) of Pub. L. 101–508 shall be applied as if "section 1042(c)(1)(B)" appeared instead of "section 1042(c)(2)(B)". See 1990 Amendment note below. (Small Business Job Protection Act of 1996) Law text · (c)
• Pub. L. 104–188, §1311(b)(3), substituted "section 1362(d)(3)(C)" for "section 1362(d)(3)(D)". (Small Business Job Protection Act of 1996) Law text · (c)
• Pub. L. 104–188, §1616(b)(13), struck out "or 593" after "section 581". (Small Business Job Protection Act of 1996) Law text · (c)

1990

• Pub. L. 101–508, which directed the amendment of subsec. (c)(2)(B)(ii) by substituting "section 83, 422, or 423 applied (or to which section 422 or 424 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990) applied)" for "section … · (c)

1989

• Pub. L. 101–239 added par. (4). · (b)

1988

• Pub. L. 100–647, §1018(t)(4)(F), made technical correction to Pub. L. 99–514, §1854(a)(3)(B), see 1986 Amendment notes below. · (b), (4)
• Pub. L. 100–647, §1018(t)(4)(D), inserted "(as in effect immediately before the Tax Reform Act of 1986)" after "section 954(c)(3)" in last sentence. · (c)
• Pub. L. 100–647, §1018(t)(4)(E), substituted "replacement period" for "placement period". · (c)

1986

• Pub. L. 99–514, §1854(a)(11), which directed that "employee" be inserted before "stock" in section catchline was executed by making the insertion before "stock" the second time that term appears as the probable intent of Congress.
• Pub. L. 99–514, §1854(a)(1), substituted "the taxpayer or executor elects in such form as the Secretary may prescribe" for "the taxpayer elects" in par. (1) and inserted "which would be recognized as long-term capital gain" in concluding provisions. · (a)
• Pub. L. 99–514, §1854(a)(2)(A), substituted "Plan must hold" for "Employees must own" in heading and amended text generally. Prior to amendment, par. (2) read as follows: "The plan or cooperative referred to in paragraph (1) owns, immediately after the sale, at least 30 percent of t… · (b)
• Pub. L. 99–514, §1854(a)(3)(B), as amended by Pub. L. 100–647, §1018(t)(4)(F), redesignated par. (4) as (3) and struck out former par. (3) which related to plans maintained for benefit of employees. · (b)
• Pub. L. 99–514, §1854(f)(3)(B), amended subpar. (B) similar to amendment by section 1854(a)(9)(B) of Pub. L. 99–514, inserting reference to section 4979A. · (b)
• Pub. L. 99–514, §1854(a)(9)(B), substituted "sections 4978 and 4979A" for "section 4978(a)". · (b)
• Pub. L. 99–514, §1854(a)(3)(B), as amended by Pub. L. 100–647, §1018(t)(4)(F), redesignated par. (4) as (3). · (b)
• Pub. L. 99–514, §1899A(26), substituted "this section—" for "this section.—" in introductory provision. · (c)
• Pub. L. 99–514, §1854(a)(4), substituted "stock outstanding that is" for "securities outstanding that are" in subpar. (A), redesignated subpar. (C) as (B), and struck out former subpar. (B) which read as follows: "at the time of the sale described in subsection (a)(1), have been hel… · (c)
• Pub. L. 99–514, §1854(a)(5)(A), amended par. (4) generally. Prior to amendment, par. (4) read as follows: "The term 'qualified replacement property' means any securities (as defined in section 165(g)(2)) issued by a domestic corporation which does not, for the taxable year in which … · (c)
• Pub. L. 99–514, §1854(a)(10), substituted "sold" for "acquired" in heading, and in text substituted "sale of securities" for "acquisition of securities" and inserted "to an employee stock ownership plan or eligible worker-owned cooperative". · (c)
• Pub. L. 99–514, §1854(a)(6)(A), added par. (7). · (c)
• Pub. L. 99–514, §1854(a)(7), inserted last sentence. · (d)
• Pub. L. 99–514, §1854(a)(8)(A), added subsec. (e) and redesignated former subsec. (e) as (f). · (e), (f)