[Federal Register Volume 61, Number 240 (Thursday, December 12, 1996)]
[Notices]
[Page 65422]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31505]


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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 January 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 quarter beginning January 1, 1997, 33.4 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 66.6 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: December 4, 1996.

    By authority of the Board.
Beatrice Ezerski,
Secretary to the Board.
[FR Doc. 96-31505 Filed 12-11-96; 8:45 am]
BILLING CODE 7905-01-M