Owner-Employee definition

Owner-Employee means a Self-Employed Individual who is a partner and owns more than 10% of either the capital or profits interest of the partnership.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Owner-Employee means, if the Employer is a sole proprietorship, the individual who is the sole proprietor, or if the Employer is a partnership, a partner who owns more than 10 percent of either the capital interest or the profits interest of the partnership.

Owner-Employee. Means an individual who is a sole proprietor, or who is a partner owning more than 10% of either the capital or profits interest of the partnership.

Examples of Owner-Employee in a sentence

For purposes of the preceding sentence, an Owner-Employee, or two or more Owner-Employees, shall be treated as owning any interest in a partnership which is owned, directly or indirectly, by a partnership which such Owner-Employee, or such two or more Owner-Employees, are considered to control within the meaning of the preceding sentence.
If an individual is covered as an Owner-Employee under the plans of two or more trades or businesses which are not controlled and the individual controls a trade or business, then the contributions or benefits of the employees under the plan of the trade or business which is controlled must be as favorable as those provided for him or her under the most favorable plan of the trade or business which is not controlled.
No loans will be made to any shareholder-employee or Owner-Employee.
Employees No loan shall be granted to an Owner-Employee or Shareholder-Employee unless an exemption has been obtained for such loan from the Secretary of Labor under section 408 of the Act (and such loan is exempt from the excise tax imposed under section 4975 of the Code).
Employees No loan shall be granted to an Owner-Employee or Shareholder-Employee unless an exemption has been obtained for such loan from the Secretary of Labor under Section 408 of the Act (and such loan is exempt from the excise tax imposed under Section 4975 of the Code).

More Definitions of Owner-Employee

Owner-Employee means a sole proprietor or a partner who owns more than ten percent (10%) of either the capital interest or profits interest of a partnership.

Owner-Employee means a sole proprietor who owns the entire interest in the Employer or a partner (or member in the case of a limited liability company treated as a partnership or sole proprietorship for federal income tax purposes) who owns more than ten percent (10%) of either the capital interest or the profits interest in the Employer and who receives income for personal services from the Employer.

Owner-Employee means a sole proprietor who owns the entire interest in the Employer or a partner who owns more than 10% of either the capital interest or the profits interest in the Employer and who receives income for personal services from the Employer.

Owner-Employee. An individual who is a sole proprietor, if the Employer is a sole proprietorship, or if the Employer is a partnership, a partner owning more than 10% of either the capital interest or the profits interest in the Employer; provided that where this Plan refers to an Owner-Employee in the context of a trade or business other than the trade or business with respect to which the Plan is adopted, the term Owner-Employee means a person who would be an Owner-Employer as defined above if that other trade or business was the Employer.

Owner-Employee means the sole proprietor of an Affiliated Employer that is a sole proprietorship, or a partner owning more than 10% of either the capital or profits interest of an Affiliated Employer that is a partnership. The Plan Administrator shall be responsible for identifying Owner-Employees to the Recordkeeper.

Owner-Employee. 7 1.66 "Partially Vested Separation" 8 1.67 "Participant" 8 1.68 "Participant Contributions Account" 8 1.69 "Participant-Directed Assets" 8 1.70 "Participant Voluntary Nondeductible Contributions" 8 1.71 "Participant Voluntary Nondeductible Contributions Account" 8 1.72 "Participating Affiliate" 8 1.73 "Period of Severance 8 1.74 "Plan" 8 1.75 "Plan Year" 8 1.76 "Prototype Plan" 9 1.77 "Qualified Joint and Survivor Annuity" 9 1.78 "Qualified Matching Contributions" 9 1.79 "Qualified Matching Contributions Account" 9 1.80 "Qualified Nonelective Contributions" 9 1.81 "Qualified Nonelective Contributions Account" 9 1.82 "Qualified Plan" 9 1.83 "Qualifying Employer Securities" 9 1.84 "Rollover Contribution" 9 1.85 "Rollover Contributions Account" 9 1.86 "Self-Employed Individual" 9 l.87 "Social Security Retirement Age" 9 1.88 "Sponsor" 9 1.89 "Spouse" 9 1.90 "Surviving Spouse" 10 1.91 "Taxable Wage Base" 10 1.92 "Transferred Account" 10 1.93 "Trust" 10 1.94 "Trust Fund" 10 1.95 "Trustee" 10 1.96 "Valuation Date" 10 1.97 "Vesting Service" 10 1.98 "Years of Service" 10

Owner-Employee means an Employee who is a sole proprietor adopting this Plan as the Employer, or who is a partner owning more than 10% of either the capital or profits interest of a partnership adopting this Plan as the Employer. Solely for the purposes of Section 10 hereof, Owner-Employee shall also mean an Employee or officer who owns (or is considered as owning within the meaning of Code Section 318(a)(1)) on any day during the Year, more than 5% of the Employer if the Employer is an electing small business corporation.