Income Tax Law: Analysis and Comment |
From inside the book
Results 1-5 of 16
Page 36
... deemed to have occurred and the new stock or securities shall be treated as taking the place of the old . In case securities of a greater face or par value in the aggregate are received , the excess is to be treated as gain to the ...
... deemed to have occurred and the new stock or securities shall be treated as taking the place of the old . In case securities of a greater face or par value in the aggregate are received , the excess is to be treated as gain to the ...
Page 39
... deemed to have been made from the most re- cently accumulated undivided profits or surplus of the corporation and should constitute a part of the annual income of the person receiving the same for the year in which received . The ...
... deemed to have been made from the most re- cently accumulated undivided profits or surplus of the corporation and should constitute a part of the annual income of the person receiving the same for the year in which received . The ...
Page 40
... deemed to be made from them . Such distribution made in 1918 or in any year thereafter , is held to be made from earnings or profits accumulated since February 28 , 1913 ( in the case of a personal service corporation , from the most ...
... deemed to be made from them . Such distribution made in 1918 or in any year thereafter , is held to be made from earnings or profits accumulated since February 28 , 1913 ( in the case of a personal service corporation , from the most ...
Page 41
... deemed to have been paid from the most recently accu- mulated earnings or profits . 29. The question has been raised if this provision for the taxation of stock dividends ( at the rates prevailing for the year in which the corporation ...
... deemed to have been paid from the most recently accu- mulated earnings or profits . 29. The question has been raised if this provision for the taxation of stock dividends ( at the rates prevailing for the year in which the corporation ...
Page 42
... deemed to have been made from the earnings or profits of the preceding tax- able years . A distribution after the first sixty days of the taxable year shall be deemed to have been made from the earnings or profits accumulated between ...
... deemed to have been made from the earnings or profits of the preceding tax- able years . A distribution after the first sixty days of the taxable year shall be deemed to have been made from the earnings or profits accumulated between ...
Common terms and phrases
accounting period allowable deductions amount of tax amounts received apply approval assessed basis beneficiary bonds calendar year 1918 cent centum citizen or resident collected computed contract deductions and credits deemed deputy collector distributed district domestic corporation earnings or profits entire period estate or trust excess profits taxes fair market value February 28 Federal fiduciary fiscal foreign corporation foreign country gross income income derived income exceeds installment interest Internal Revenue inventory liable Liberty Bond Liberty Loan living with husband loss Municipal Bonds net income exceeds non-resident alien individual normal tax obligations paid or accrued partnership payment personal exemption personal service corporation Philippine Islands poration Porto Rico prescribed purpose rates redetermination regulations Revenue Act section 252 statute stockholders surtax tax due tax free tax imposed Taxable Securities taxes paid taxpayer thereof tion trade or business Treasury Department United War Finance Corporation war profits withholding agent
Popular passages
Page 112 - That every partnership shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowed by this title, and shall include in the return the names and addresses of the individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual. The return shall be sworn to by any one of the partners.
Page 103 - ... rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Page 133 - It shall be unlawful for any collector, deputy collector, agent, clerk, or other officer or employee of the United States to divulge or to make known in any manner whatever not provided by law to any person the operations, style of work, or apparatus of any manufacturer or producer visited by him in the discharge of his official duties, or the amount or source of income, profits, losses, expenditures, or any particular thereof,.
Page 135 - The amount so added to any tax shall be collected at the same time and in the same manner and as part of the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount so added shall be collected in the same manner as the tax.
Page 103 - ... taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 117 - A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence.
Page 120 - States and not having any office or place of business therein, there shall be deducted and withheld at the source in the same manner and upon the same items of income as is provided in section...
Page 113 - If the change is from calendar year to fiscal year, a separate return shall be made for the period between the close of the last calendar year for which return was made and the date designated as the close of the fiscal year.
Page 134 - ... whenever any person who is required to deliver a monthly or other return of objects subject to tax fails to do so at the time required, or delivers any return which, in the opinion of the collector, is false or fraudulent, or contains any undervaluation or understatement...
Page 101 - The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract...