26 U.S.C. § 1372
Partnership rules to apply for fringe benefit purposes
# (a) General rule
For purposes of applying the provisions of this subtitle which relate to employee fringe benefits— (1) the S corporation shall be treated as a partnership, and (2) any 2-percent shareholder of the S corporation shall be treated as a partner of such partnership.
# (b) 2-percent shareholder defined
For purposes of this section, the term “2-percent shareholder” means any person who owns (or is considered as owning within the meaning of section 318) on any day during the taxable year of the S corporation more than 2 percent of the outstanding stock of such corporation or stock possessing more than 2 percent of the total combined voting power of all stock of such corporation.
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Cited by 16
- 26 CFR § 1.132-9 — Qualified transportation fringes.
- 26 CFR § 1.1362-2 — Termination of election.
- 26 CFR § 1.1374-1A — Tax imposed on certain capital gains.
- 26 CFR § 1.274-12 — Limitation on deductions for certain food or beverage expenses paid or incurred after December 31, 2017.
- 26 CFR § 1.274-13 — Disallowance of deductions for certain qualified transportation fringe expenditures.
- 26 CFR § 1.47-4 — Electing small business corporation.
- 26 CFR § 1.50A-5 — Electing small business corporations.
- 26 CFR § 1.50B-2 — Electing small business corporations.
- 26 CFR § 1.58-4 — Electing small business corporations.
- 26 CFR § 1.6037-1 — Return of electing small business corporation.
- 26 CFR § 18.1379-1 — Transitional rules on enactment.
- 26 CFR § 301.9100-19T — Election relating to passive investment income of electing small business corporations.
Nearby sections (25 sections)
- 1355 · Definitions and special rules
- 1356 · Qualifying shipping activities
- 1357 · Items not subject to regular tax; depreciation; interest
- 1358 · Allocation of credits, income, and deductions
- 1359 · Disposition of qualifying vessels
- 1361 · S corporation defined
- 1362 · Election; revocation; termination
- 1363 · Effect of election on corporation
- 1366 · Pass-thru of items to shareholders
- 1367 · Adjustments to basis of stock of shareholders, etc.
- 1368 · Distributions
- 1371 · Coordination with subchapter C
- 1372 · Partnership rules to apply for fringe benefit purposes
- 1373 · Foreign income
- 1374 · Tax imposed on certain built-in gains
- 1375 · Tax imposed when passive investment income of corporation having…
- 1377 · Definitions and special rule
- 1378 · Taxable year of S corporation
- 1379 · Transitional rules on enactment
- 1381 · Organizations to which part applies
- 1382 · Taxable income of cooperatives
- 1383 · Computation of tax where cooperative redeems nonqualified…
- 1385 · Amounts includible in patron’s gross income
- 1388 · Definitions; special rules
- 1391 · Designation procedure