annualized tax
Defined in 1 place of the United States Code.
For purposes of paragraph (1), the term “annualized tax” means, with respect to any payment, the amount of tax which would be imposed by section 1(c) 1 (determined without regard to any rate of tax in excess of the fourth lowest rate of tax applicable under section 1(c) 1 ) on an amount of taxable income equal to the excess of—
(A) the annualized amount of such payment, over
(B) the amount determined under paragraph (2).
Source
- 2017–present26 U.S.C. § 3402Internal Revenue Code · Income tax collected at source · under this chapter
For purposes of paragraph (1), the term “annualized tax” means, with respect to any payment, the amount of tax which would be imposed by section 1(c) (determined without regard to any rate of tax in excess of 31 percent) on an amount of taxable income equal to the excess of—
(A) the annualized amount of such payment, over
(B) the amount determined under paragraph (2).
Source
- 1994–200126 U.S.C. § 3402Internal Revenue Code · Income tax collected at source · under this chapter
For purposes of paragraph (1), the term “annualized tax” means, with respect to any payment, the amount of tax which would be imposed by section 1(c) (determined without regard to any rate of tax in excess of the fourth lowest rate of tax applicable under section 1(c)) on an amount of taxable income equal to the excess of—
(A) the annualized amount of such payment, over
(B) the amount determined under paragraph (2).
Source
- 2001–201826 U.S.C. § 3402Internal Revenue Code · Income tax collected at source · under this chapter