Regulations 64 Relating to the Capital Stock Tax Under Section 701 of the Revenue Act of 1934 |
From inside the book
Page 19
... under the provisions of paragraph ( 12 ) , or members thereof , for the purpose
of financing the ordinary crop operations of such members or other producers ,
and operated in conjunction with such association . Exemption shall not be
denied ...
... under the provisions of paragraph ( 12 ) , or members thereof , for the purpose
of financing the ordinary crop operations of such members or other producers ,
and operated in conjunction with such association . Exemption shall not be
denied ...
What people are saying - Write a review
We haven't found any reviews in the usual places.
Common terms and phrases
activities actually addition adjusted declared value allowed AMENDED amount applicable assessment association authorized banks basis beneficiary benefit boards capital stock tax carrying cent centum charter claim close collected collector Commissioner computing cooperative defined denied determined distributed dividends domestic corporation earnings employees ending June 30 engaged entitled equipment exclusively exempt expenses failure false Farmers foreign corporation Form Fraternal funds holding imposed by section includes individual insurance company interest Internal Revenue keep leagues lease limited manner means Michigan Mutual necessary officer operated organized original declared value otherwise paid partnership payment penalty period person prescribed prior producers profit provisions purchase purpose reason received records refund regulations respect retirement REVENUE ACT revised Secretary SECTION 701 shareholder shares statement statute subsequent supplies tax imposed taxable year ending term thereof tion turning United
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.
Bibliographic information
| Title | Regulations 64 Relating to the Capital Stock Tax Under Section 701 of the Revenue Act of 1934 |
| Author | United States. Internal Revenue Service |
| Publisher | U.S. Government Printing Office, 1934 |
| Length | 52 pages |
| Export Citation | BiBTeX EndNote RefMan |