employee
(vi)The term “employee” includes, with respect to a calendar year, a self-employed individual who is treated as an employee underfor the taxable year ending during such calendar year, and the term “compensation” shall include earned income of such individual with respect to such self-employment. (vii)In the case of any calendar year beginning after 2010, the dollar amount under clause (i)(II) shall be increased by an amount equal to— (I)such dollar amount, multiplied by (II)the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting “calendar year 2009” for “calendar year 2016” in subparagraph (A)(ii) thereof. (E) (i)The amount determined under this subparagraph for any plan year is the excess (if any) of the sum of the dividends declared during the plan year by the plan sponsor plus the aggregate amount paid for the redemption of stock of the plan sponsor redeemed during the plan year over the greater of— (I)the adjusted net income (within the meaning of section 4043 of the Employee Retirement Income Security Act of 1974) of the plan sponsor for the preceding plan year, determined without regard to any reduction by reason of interest, taxes, depreciation, or amortization, or (II)in the case of a plan sponsor that determined and declared dividends in the same manner for at least 5 consecutive years immediately preceding such plan year, the aggregate amount of dividends determined and declared for such plan year using such manner. (ii)For purposes of clause (i), there shall only be taken into account dividends declared, and redemptions occurring, after. (iii)Dividends paid by one member of a controlled group (as defined in) to another member of such group shall not be taken into account under clause (i). (iv)Redemptions that are made pursuant to a plan maintained with respect to employees, or that are made on account of the death, disability, or termination of employment of an employee or shareholder, shall not be taken into account under clause (i). (v) (I)Dividends and redemptions with respect to applicable preferred stock shall not be taken into account under clause (i) to the extent that dividends accrue with respect to such stock at a specified rate in all events and without regard to the plan sponsor’s income, and interest accrues on any unpaid dividends with respect to such stock.