Except as provided in subsection (e)-
In the case of an individual, there is hereby imposed (in addition to any other tax imposed by this subtitle) for each taxable year a tax equal to 3.8 percent of the lesser of-
In the case of an estate or trust, there is hereby imposed (in addition to any other tax imposed by this subtitle) for each taxable year a tax of 3.8 percent of the lesser of-
For purposes of this chapter, the term "threshold amount" means-
For purposes of this chapter-
The term "net investment income" means the excess (if any) of-
A rule similar to the rule of section 469(e)(1)(B) shall apply for purposes of this subsection.
In the case of a disposition of an interest in a partnership or S corporation-
The term "net investment income" shall not include any distribution from a plan or arrangement described in section 401(a), 403(a), 403(b), 408, 408A, or 457(b).
Net investment income shall not include any item taken into account in determining self-employment income for such taxable year on which a tax is imposed by section 1401(b).
For purposes of this chapter, the term "modified adjusted gross income" means adjusted gross income increased by the excess of-
This section shall not apply to-
26 U.S.C. § 1411
Added Pub. L. 111-152, title I, §1402(a)(1), Mar. 30, 2010, 124 Stat. 1061.
EFFECTIVE DATEPub. L. 111-152, title I, §1402(a)(4), Mar. 30, 2010, 124 Stat. 1063, provided that: "The amendments made by this subsection [enacting this chapter and amending sectionof this title] shall apply to taxable years beginning after December 31, 2012."
- The term "corporation" includes associations, joint-stock companies, and insurance companies.
- joint return
- The term "joint return" means a single return made jointly under section 6013 by a husband and wife.
- taxable year
- The term "taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the taxable income is computed under subtitle A. "Taxable year" means, in the case of a return made for a fractional part of a year under the provisions of subtitle A or under regulations prescribed by the Secretary, the period for which such return is made.
- The term "taxpayer" means any person subject to any internal revenue tax.
- trade or business
- The term "trade or business" includes the performance of the functions of a public office.