# § 541. Imposition of personal holding company tax
In addition to other taxes imposed by this chapter, there is hereby imposed for each taxable year on the undistributed personal holding company income (as defined in section 545) of every personal holding company (as defined in section 542) a personal holding company tax equal to 20 percent of the undistributed personal holding company income.
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**Source Credit**: (Aug. 16, 1954, ch. 736, 68A Stat. 182; Pub. L. 88–272, title II, § 225(a), Feb. 26, 1964, 78 Stat. 79; Pub. L. 97–34, title I, § 101(d)(2), Aug. 13, 1981, 95 Stat. 184; Pub. L. 99–514, title I, § 104(b)(8), Oct. 22, 1986, 100 Stat. 2105; Pub. L. 101–508, title XI, § 11802(f)(1), Nov. 5, 1990, 104 Stat. 1388–530; Pub. L. 103–66, title XIII, §§ 13201(b)(2), 13202(b), Aug. 10, 1993, 107 Stat. 459, 461; Pub. L. 107–16, title I, § 101(c)(5), June 7, 2001, 115 Stat. 43; Pub. L. 108–27, title III, § 302(e)(6), May 28, 2003, 117 Stat. 764; Pub. L. 112–240, title I, § 102(c)(1)(B), Jan. 2, 2013, 126 Stat. 2319.)
## Editorial Notes
### Amendments
2013— substituted “20 percent” for “15 percent”.
2003— substituted “equal to 15 percent of the undistributed personal holding company income.” for “equal to the product of the highest rate of tax under section 1(c) and the undistributed personal holding company income.”
2001— substituted “equal to the product of the highest rate of tax under section 1(c) and the undistributed personal holding company income.” for “equal to 39.6 percent of the undistributed personal holding company income.”
1993—, substituted “39.6 percent” for “36 percent”.
, substituted “36 percent” for “28 percent”.
1990— struck out “(38.5 percent in the case of taxable years beginning in 1987)” after “28 percent”.
1986— substituted “28 percent (38.5 percent in the case of taxable years beginning in 1987)” for “50 percent”.
1981— substituted “50 percent” for “70 percent”.
1964— reduced the tax from 75 percent of undistributed income not in excess of $2,000, and 85 percent when in excess of $2,000, to 70 percent.
## Statutory Notes and Related Subsidiaries
### Effective Date of 2013 Amendment
Amendment by applicable to taxable years beginning after , see , set out as a note under .
### Effective Date of 2003 Amendment
Amendment by applicable, except as otherwise provided, to taxable years beginning after , see , set out as an Effective and Termination Dates of 2003 Amendment note under .
### Effective Date of 2001 Amendment
Amendment by applicable to taxable years beginning after , see , set out as an Effective and Termination Dates of 2001 Amendment note under .
### Effective Date of 1993 Amendment
Amendment by applicable to taxable years beginning after , see sections 13201(c) and 13202(c) of , set out as notes under .
### Effective Date of 1986 Amendment
Amendment by applicable to taxable years beginning after , see , set out as a note under .
### Effective Date of 1981 Amendment
Amendment by applicable to taxable years beginning after , see , set out as a note under .
### Effective Date of 1964 Amendment
Amendment by applicable to taxable years beginning after , see section 225() of set out as a note under .
### Savings Provision
For provisions that nothing in amendment by be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to , for purposes of determining liability for tax for periods ending after , see , set out as a note under .