98-23498. Determination of Quarterly Rate of Excise Tax for Railroad Retirement Supplemental Annuity Program

[Federal Register Volume 63, Number 169 (Tuesday, September 1, 1998)]
[Notices]
[Pages 46494-46495]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-23498]


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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. 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 October 1, 1998, 
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 quarter beginning October 1, 1998, 28.6 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 71.4 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: August 24, 1998.


[[Page 46495]]


    By Authority of the Board.
Beatrice Ezerski,
Secretary to the Board.
[FR Doc. 98-23498 Filed 8-31-98; 8:45 am]
BILLING CODE 7905-01-M