Determination of Quarterly Rate of Excise Tax for Railroad Retirement Supplemental Annuity Program

[Federal Register Volume 64, Number 238 (Monday, December 13, 1999)]
[Notices]
[Page 69575]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-32218]


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RAILROAD RETIREMENT BOARD


Determination of Quarterly Rate of Excise Tax for Railroad 
Retirement Supplemental Annuity Program

    In accordance with directions in Section 3221(c) of the Railroad 
Retirement Tax Act (26 U.S.C., Section 3221(c), the Railroad Retirement 
Board has determined that the excise tax imposed by such Section 
3221(c) on every employer, with respect to having individuals in his 
employ, for each work-hour for which compensation is paid by such 
employer for services rendered to him during the quarter beginning 
January 1, 2000, shall be at the rate of 26\1/2\ cents.
    In accordance with directions in Section 15(a) of the Railroad 
Retirement Act of 1974, the Railroad Retirement Board has determined 
that for the quarter beginning January 1, 2000, 38.7 percent of the 
taxes collected under Sections 3211(b) and 3221(c) of the Railroad 
Retirement Tax Act shall be credited to the Railroad Retirement Account 
and 61.3 percent of the taxes collected under such Sections 3211(b) and 
3221(c) plus 100 percent of the taxes collected under Section 3221(d) 
of the Railroad Retirement Tax Act shall be credited to the Railroad 
Retirement Supplemental Account.

    Dated: December 2, 1999.

    By Authority of the Board.
Beatrice Ezerski,
Secretary of the Board.
[FR Doc. 99-32218 Filed 12-10-99; 8:45 am]
BILLING CODE 7905-01-M