qualified profit-sharing plan

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.]


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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.