Notice 2002-47. Excerpt: [U]ntil Treasury and the Service issue further guidance, in the case of a statutory stock option, i.e., an incentive stock option (ISO) ... or an option granted under an employee stock purchase plan (ESPP) ... the Service will not assess the [FICA] tax or [FUTA] tax, or apply federal income tax withholding obligations, upon either the exercise of the option or the disposition of the stock acquired by an employee pursuant to the exercise of the option.