### Question
How does the law define employer securities?


### Answer
Under *26 U.S.C. § 133*, **employer securities** is defined as:

> given such term by section 409(*l*). 

#### Citation:
  - *26 U.S.C. § 133*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART III-ITEMS SPECIFICALLY EXCLUDED FROM GROSS INCOME**

