Tax on accreted income applies when nonprofit registration, objects, structure, merger, or dissolution conditions trigger additional tax. Section 352 imposes additional income-tax on accreted income upon every specified person, separately from tax chargeable on its total income, at the ... Summary
Tax on accreted income applies when nonprofit registration, objects, structure, merger, or dissolution conditions trigger additional tax.
Section 352 imposes additional income-tax on accreted income upon every specified person, separately from tax chargeable on its total income, at the maximum marginal rate in prescribed circumstances. Accreted income is calculated as the aggregate fair market value of all assets on the specified date less total liabilities on that date, subject to a reduction for accreted income attributable to specified assets and related liabilities. Asset values and liabilities are determined under the prescribed valuation method.
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