Federal Income and Estate Tax Laws: Correlated and Annotated, Being a Compilation and Annotation of All Federal Income and Estate Tax Laws Since the Organization of the Federal Government and a Correlation of Such Laws Since the Sixteenth Amendment |
From inside the book
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Page 2
... corporation " includes associations , joint - stock companies , and insurance com- panies . ( 3 ) The term " domestic ' when applied to a corporation or partnership means created or or- ganized in the United States or under the law of ...
... corporation " includes associations , joint - stock companies , and insurance com- panies . ( 3 ) The term " domestic ' when applied to a corporation or partnership means created or or- ganized in the United States or under the law of ...
Page 8
... corporation " means a corpora- ration whose income is to be as- tion whose income is to be as- cribed primarily to ... corporation , nor any any foreign corporation , nor any corporation 50 per centum or corporation 50 per centum or more ...
... corporation " means a corpora- ration whose income is to be as- tion whose income is to be as- cribed primarily to ... corporation , nor any any foreign corporation , nor any corporation 50 per centum or corporation 50 per centum or more ...
Page 10
... corporation out of earnings or profits accumulated since December 31 , 1917 and prior to January 1 , 1922.23 SEC ... corporation , which was classified as a personal serv- ice corporation under the provi- sions of the Revenue Act of 1918 ...
... corporation out of earnings or profits accumulated since December 31 , 1917 and prior to January 1 , 1922.23 SEC ... corporation , which was classified as a personal serv- ice corporation under the provi- sions of the Revenue Act of 1918 ...
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... corporation , from the 28 , 1913 , have been distributed , empt from the tax after the most recently accumulated ... corporation shall be treated as in full payment in exchange for the stock , and amounts dis- tributed in partial ...
... corporation , from the 28 , 1913 , have been distributed , empt from the tax after the most recently accumulated ... corporation shall be treated as in full payment in exchange for the stock , and amounts dis- tributed in partial ...
Page 14
... corporation . SEC . 201. ( d ) If any distribu- tion ( not in partial or complete liquidation ) made by a corpora- tion to its shareholders is not out of increase in value of prop- erty accrued before March 1 , 1913 , and is not out of ...
... corporation . SEC . 201. ( d ) If any distribu- tion ( not in partial or complete liquidation ) made by a corpora- tion to its shareholders is not out of increase in value of prop- erty accrued before March 1 , 1913 , and is not out of ...
Common terms and phrases
accrued affirming Id amended approval ascer assessed basis benefit bonds calendar capital stock centum cluding collected collector Commis Commissioner of Internal company or association computed decedent deduction dends distraint distribution district dividends duction estate or trust estate tax exempt fair market value filed fiscal gain gross estate gross income imposed by section income exceeds income tax insurance company interest Internal Revenue joint-stock company Lederer levied loss March McCoach ment net estate net income exceeds nineteen hundred nonresident alien normal tax pany paragraph partnership payable payment penalty period person Phellis Philippine Islands poration Porto Rico premiums prescribed prior provided in section purpose quired received refund Revenue Act Second Cir Secretary shares sion sioner sources stockholders subdivision tax imposed tax paid taxable taxpayer term thereof tion total net income trade or business United vided war-profits withholding
Popular passages
Page 74 - The net income shall be computed upon the basis of the taxpayer's annual accounting period (fiscal year or calendar year, as the case may be) in accordance with the method of accounting regularly employed in keeping the books of such taxpayer; but if no such method of accounting has been so employed, or if the method employed does not clearly reflect the income...
Page 190 - Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this title...
Page 20 - No gain or loss shall be recognized if property is transferred to a corporation by one or more persons solely in exchange for stock or securities in such corporation and immediately after the exchange such person or persons are in control (as defined in section 368 (c) ) of the corporation. For purposes of this section, stock or securities issued for services shall not be considered as issued in return for property.
Page 94 - ... 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 82 - ... use of or interest in such property; also from interest, rent, dividends, securities or the transaction of any business carried on for gain or profit, or gains or profits, and income derived from any source whatever.
Page 138 - ... or is to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals or for the establishment, acquisition, maintenance or operation of a public cemetery not operated for profit...
Page 98 - Debts ascertained to be worthless and charged off within the taxable year (or, in the discretion of the Commissioner, a reasonable addition to a reserve for bad debts) ; and when satisfied that a debt is recoverable only in part, the Commissioner may allow such debt, in an amount not in excess of the part charged off within the taxable year, as a deduction.
Page 497 - ... it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 262 - ... in the case of collections of items (not payable in the United States) of interest upon the bonds of foreign countries and interest upon the bonds of and dividends from foreign corporations by...
Page 42 - Whenever in the opinion of the Commissioner the use of inventories is necessary In order clearly to determine the Income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Commissioner, with the approval of the Secretary, may prescribe as conforming as nearly as may be to the best accounting practice In the trade or business and as most clearly reflecting the income.