133(a) allows a bank to exclude from gross income 50% of the interest received on loans to leveraged employee stock ownership plans (ESOPs) or their sponsoring corporations, to the extent that the loan proceeds are used to acquire employer securities for the plan.
What does LESOP stand for?
LESOP stands for Leveraged Employee Stock Ownership Plan
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of LESOP
We have 1 other meaning of LESOP in our Acronym Attic
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- Lower East Side Preparatory High School (New York)
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- Leon Educational Staff Professional Association (Florida)
Samples in periodicals archive:
In fact, we almost adopted a leveraged employee stock ownership plan, but we had just done a $1-billion ESOP for something else and decided not to double up.
HSOP" Late in 1990, the Procter & Gamble Company announced that it would prefund retiree health benefits through a 401(h) account attached to a leveraged employee stock ownership plan (ESOP).