To amend the Internal Revenue Code of 1986 to provide for residents of Puerto Rico who participate in cafeteria plans under the Puerto Rican tax laws an exclusion from employment taxes which is comparable to the exclusion that applies to cafeteria plans under such Code.


Amends the Internal Revenue Code to exempt from employment and unemployment taxes payments made on behalf of Puerto Rican residents participating in tax-exempt employee benefit cafeteria plans established under Puerto Rican law.

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