Railroads must pay excise tax on options

Railroads must pay excise taxes on the value of stock options exercised by their employees, a divided federal appeals court ruled Monday.Siding with the Internal Revenue Service, the 7th U.S. Circuit Court of Appeals held income from the options falls under the definition of “compensation” in the Railroad Retirement Tax Act.The statute — which is the railroad industry’s equivalent of the Social …

Already a subscriber? Please sign in to read this article.

Subscribe Today!

Become a subscriber to the Chicago Daily Law Bulletin today to receive your daily paper PLUS exclusive benefits such as:

Breaking news alerts, 24/7 access to our e-edition, Court Calls, Appellate Summaries & Court Opinions, event happenings and much, much more!

Call (312) 644-2394 OR AGawlinski@LBPC.com

You May Also Like
©2017 by Law Bulletin Publishing Company. Content on this site is protected by the copyright laws of the United States. The copyright laws prohibit any copying, redistributing, or retransmitting of any copyright-protected material. The content is NOT WARRANTED as to quality, accuracy or completeness, but is believed to be accurate at the time of compilation. Websites for other organizations are referenced at this site; however, the Law Bulletin does not endorse or imply endorsement as to the content of these websites. By using this site you agree to the Terms, Conditions and Disclaimer. Law Bulletin Publishing Company values its customers and has a Privacy Policy for users of this website.