If a share of stock is transferred pursuant to the exercise by an individual of an option which would fail to qualify as an incentive stock option under subsection b because there was a failure in an attempt, made in good faith, to meet the requirement of subsection b 4 , the requirement of subsection b 4 shall be considered to have been met.
To the extent provided in regulations by the Secretary, a similar rule shall apply for purposes of subsection d. If an insolvent individual holds a share of stock acquired pursuant to his exercise of an incentive stock option, and if such share is transferred to a trustee, receiver, or other similar fiduciary in any proceeding under title 11 or any other similar insolvency proceeding, neither such transfer, nor any other transfer of such share for the benefit of his creditors in such proceeding, shall constitute a disposition of such share for purposes of subsection a 1.
Subsection b 6 shall not apply if at the time such option is granted the option price is at least percent of the fair market value of the stock subject to the option and such option by its terms is not exercisable after the expiration of 5 years from the date such option is granted.
For purposes of subsection a 2 , in the case of an employee who is disabled within the meaning of section 22 e 3 , the 3-month period of subsection a 2 shall be 1 year. For purposes of this section, the fair market value of stock shall be determined without regard to any restriction other than a restriction which, by its terms, will never lapse. Paragraph 1 shall be applied by taking options into account in the order in which they were granted. For purposes of paragraph 1 , the fair market value of any stock shall be determined as of the time the option with respect to such stock is granted.
A prior section , added Pub. For savings provision, see section b of Pub. Amendment by section b 5 of Pub. A , to which such amendment relates, see section of Pub. Amendment by section of Pub. For provisions that nothing in amendment by Pub. These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page ; the IRS also publishes a fuller explanation of what they are and what they mean.
The collection is updated at our end daily. It appears that the IRS updates their listing every Friday. Note that the IRS often titles documents in a very plain-vanilla, duplicative way.
Do not assume that identically-titled documents are the same, or that a later document supersedes another with the same title.
That is unlikely to be the case. Release dates appear exactly as we get them from the IRS. Some are clearly wrong, but we have made no attempt to correct them, as we have no way guess correctly in all cases, and do not wish to add to the confusion. This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.
It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site. Cornell Law School Search Cornell. Such term shall not include any option if as of the time the option is granted the terms of such option provide that it will not be treated as an incentive stock option. B such disposition is a sale or exchange with respect to which a loss if sustained would be recognized to such individual,. B the employee has a right to receive property at the time of exercise of the option, or.
C the option is subject to any condition not inconsistent with the provisions of subsection b. Subparagraph B shall apply to a transfer of property other than cash only if section 83 applies to the property so transferred. Prior Provisions A prior section , added Pub.
Effective Date of Amendment Amendment by Pub. Effective Date of Amendment Pub. Savings Provision For provisions that nothing in amendment by Pub. Written determinations for this section These documents, sometimes referred to as "Private Letter Rulings", are taken from the IRS Written Determinations page ; the IRS also publishes a fuller explanation of what they are and what they mean.
We truncate results at items. After that, you're on your own. Employee Stock Purchase Plans: Change in Identity, etc.More...