qualified profit-sharing plan
A plan in which an employer’s contributions are not taxed to the employee until distribution.? The employer is allowed to deduct the contributions. IRC (26 USCA) ¡ì 401(a). ¡ª Often shortened to qualified plan. [Cases: Internal Revenue 3578. C.J.S. Internal Revenue ¡ì¡ì 294¨C295, 302¨C304.]
