Regulations 64 Relating to the Capital Stock Tax Under Section 701 of the Revenue Act of 1934 |
From inside the book
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Page 7
... retired from the business for which organized , it will be required to file an excerpt from its charter setting forth ... retirement from business . ART . 33. " Carrying on or doing business " illustrated . - Corporations organized for ...
... retired from the business for which organized , it will be required to file an excerpt from its charter setting forth ... retirement from business . ART . 33. " Carrying on or doing business " illustrated . - Corporations organized for ...
Page 9
... retired from its principal business ( as , for example , the manufacture of automobiles ) by turning that part of its business over to another is , nevertheless , doing business , if it engages in or carries on other activities which ...
... retired from its principal business ( as , for example , the manufacture of automobiles ) by turning that part of its business over to another is , nevertheless , doing business , if it engages in or carries on other activities which ...
Page 20
... retirement fund associations of a purely local character , if ( A ) no part of their net earnings inures ( other than through payment of retirement benefits ) to the benefit of any private shareholder or individual , and ( B ) the ...
... retirement fund associations of a purely local character , if ( A ) no part of their net earnings inures ( other than through payment of retirement benefits ) to the benefit of any private shareholder or individual , and ( B ) the ...
Page 24
... retired at par as soon as sufficient funds are realized from sales , and ( 2 ) That all funds not required for the payment of dividends upon , or for the retirement of , preferred stock shall be used by the company for the care and ...
... retired at par as soon as sufficient funds are realized from sales , and ( 2 ) That all funds not required for the payment of dividends upon , or for the retirement of , preferred stock shall be used by the company for the care and ...
Page 28
... retire the stock of such nonproducer , the fact that under such circum- stances a small amount of the outstanding capital stock is owned by shareholders who are no longer producers will not destroy the ex- emption . The restriction ...
... retire the stock of such nonproducer , the fact that under such circum- stances a small amount of the outstanding capital stock is owned by shareholders who are no longer producers will not destroy the ex- emption . The restriction ...
Common terms and phrases
26 Mutual activities adjusted declared value amount assessment benevolent life insurance Business leagues business_ capital employed capital stock tax centum collected corporation__ Corporations organized CORPORATIONS SECTION 701 December 31 declaration of value defined__ distraint domestic corporation ending June 30 engaged entitled to exemption excise tax exemption under section failure to file false or fraudulent Federal income tax file a return foreign corporation gift taxes imposed by section includes income tax purposes Industrial Recovery Act insurance company Internal Revenue inures last income-tax taxable lease limited partnerships Mutual savings banks National Industrial Recovery net income nonmembers operated exclusively organized and operated original declared value paid payment person preferred stock prescribed private shareholder profit real estate refund regulations return or list REVENUE ACT Revised Statutes section 215 stock tax return supplies and equipment tax is imposed taxable year ending term Territories of Alaska thereof tion United willfully
Popular passages
Page 25 - ... not to engage in a regular business of a kind ordinarily carried on for profit. 1t is an organization of the same general class as a chamber of commerce or board of trade. Thus, its activities should be directed to the improvement of business conditions of one or more lines of business as distinguished from the performance of particular services for individual persons.
Page 42 - The amount so added to any tax shall be collected at the same time and in the same manner and as a 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 40 - person" as used in this section includes an officer or employee of a corporation or a member or employee of a partnership, who as such officer, employee, or member is under a duty to perform the act in respect of which the violation occurs.
Page 37 - ... shall, in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than one year, or both, together with the costs of prosecution.
Page 39 - America is a stockholder ; or whoever shall enter into any agreement, combination, or conspiracy to defraud the Government of the United States, or any department or officer thereof, or any corporation in which the United States of America is a stockholder...
Page 38 - IX, or willfully attempts in any manner to evade or defeat any such tax or the payment thereof, shall, in addition to other penalties provided by law, be liable to a penalty of the amount of the tax evaded, or not paid, collected or accounted for and paid over, to be assessed and collected in the same manner as taxes are assessed and collected.
Page 35 - The Secretary and any officer or employee of the Treasury Department, upon request from the Committee on Ways and Means of the House of Representatives, the Committee on Finance of the Senate, or a select committee of the Senate or House...
Page 41 - Every person liable to any tax imposed by this Act, or for the collection thereof, shall keep such records, render under oath such statements, make such returns, and comply with such rules and regulations, as the Commissioner, with the approval of the Secretary, may from time to time prescribe.
Page 37 - ... any person who willfully attempts in any manner to evade or defeat any tax imposed by this chapter or the payment thereof, shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than five years, or both, together with the costs of prosecution.
Page 20 - ... a reserve required by state law or a reasonable reserve for any necessary purpose.