97-14701. Determination of Quarterly Rate of Excise Tax for Railroad Retirement Supplemental Annuity Program

[Federal Register Volume 62, Number 108 (Thursday, June 5, 1997)]
[Notices]
[Pages 30901-30902]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-14701]


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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 
July 1, 1997, shall be at the rate of 35 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

[[Page 30902]]

quarter beginning July 1, 1997, 31.0 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 69.0 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.

    By Authority of the Board.
    Dated: May 28, 1997.

Beatrice Ezerski,
Secertary to the Board.
[FR Doc. 97-14701 Filed 6-4-97; 8:45 am]
BILLING CODE 7905-01-M