[Code of Federal Regulations]
[Title 26, Volume 17]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR55.4981-2]

[Page 404]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 55_EXCISE TAX ON REAL ESTATE INVESTMENT TRUSTS AND REGULATED 
INVESTMENT COMPANIES--Table of Contents
 
          Subpart A_Excise Tax on Real Estate Investment Trusts
 
Sec. 55.4981-2  Imposition of excise tax with respect to certain 

undistributed income of real estate investment trusts; calendar 
years beginning after December 31, 1986.

    Section 4981, as amended by the Tax Reform Act of 1986, imposes an 
excise tax on a real estate investment trust in the amount of four 
percent of the excess, if any, of the required distribution for a 
calendar year over the distributed amount for such calendar year. 
Section 4981, as so amended, applies only to calendar years that begin 
after December 31, 1986. For provisions relating to the imposition of an 
excise tax with respect to certain undistributed income of real estate 
investment trusts for taxable years ending before January 1, 1987, see 
Sec. 55.4981-1.

[T.D. 8180, 53 FR 6148, Mar. 1, 1988]