Internal Revenue Code § 162(m)

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Internal Revenue Code § 162(m)

Definition

Section that generally precludes a publicly held corporation from deducting the amount of compensation paid in excess of $1 million during the taxable year to certain executive officers. Prior to a 2017 amendment to § 162(m), performance-based compensation that met certain conditions was exempt from the $1 million limit on deductibility.

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— Shaev v. Saper

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