Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means, House of Representatives, Interim, 69th-70th Congresses, October 31 to November 10, 1927, Including Briefs, Memoranda, and Letters Received Up to November 26, 1927 : Indexed |
From inside the book
Results 1-5 of 100
Page 10
... repeal of the estate tax at the present time would simply entail a revenue loss in 1929 of $ 7,000,000 . Mr. BACHARACH . If we did not do that , we could take another point off the corporation tax . Mr. MILLS . My answer to that is that ...
... repeal of the estate tax at the present time would simply entail a revenue loss in 1929 of $ 7,000,000 . Mr. BACHARACH . If we did not do that , we could take another point off the corporation tax . Mr. MILLS . My answer to that is that ...
Page 13
... repealed . By tradition , legal theory , and rev- enue necessity , this tax belongs to the States . They and not the Federal ... repeal most of the war taxes and to cut rates drastically . The contrary is true of the States and of their ...
... repealed . By tradition , legal theory , and rev- enue necessity , this tax belongs to the States . They and not the Federal ... repeal most of the war taxes and to cut rates drastically . The contrary is true of the States and of their ...
Page 14
... repealed , the loss in revenue in the fiscal year 1929 will not exceed $ 7,000,000 . THE AUTOMOBILE TAX I realize ... repeal . The Federal appropriation for good roads in the fiscal year 1928 runs as high as $ 71,000,000 , and in the ...
... repealed , the loss in revenue in the fiscal year 1929 will not exceed $ 7,000,000 . THE AUTOMOBILE TAX I realize ... repeal . The Federal appropriation for good roads in the fiscal year 1928 runs as high as $ 71,000,000 , and in the ...
Page 58
... repeal that tax without injuring the condition of the Treasury . The CHAIRMAN . I do not think that that was what Mr. Treadway said at all . Mr. TREADWAY . That was not what I said . I was about to make that statement in my own behalf ...
... repeal that tax without injuring the condition of the Treasury . The CHAIRMAN . I do not think that that was what Mr. Treadway said at all . Mr. TREADWAY . That was not what I said . I was about to make that statement in my own behalf ...
Page 62
... repeal should be subordi- nated to the lowest readjustment of the corporation rate now possible . 4. That further exemption of individual income from taxation be opposed as unfair and unsound public policy . The corporation tax should ...
... repeal should be subordi- nated to the lowest readjustment of the corporation rate now possible . 4. That further exemption of individual income from taxation be opposed as unfair and unsound public policy . The corporation tax should ...
Common terms and phrases
80 per cent allowed amendment amount assessment Association BACHARACH basis believe beneficiaries BLODGETT Board of Tax Bureau capital gain CHAIRMAN CHINDBLOM claim Class I railroads collected commissioner committee Congress corporation income corporation tax cost debt decision depreciation earned estimate exemption expenses fact favor February 26 Federal estate tax Federal Government Federal tax filed fiscal Florida GARNER gentlemen Governor HAWLEY HULL income-tax individual inheritance tax installment interest Internal Revenue legislature levy MACCHESNEY matter MCLAUGHLIN ment MILLS National net income nonresident aliens organization payment present profit provision purpose question RAINEY real estate recommend reduction reference refund regulations remainderman repeal represent resolution revenue act SATTERWHITE Secretary Senate statement statute of limitations stockholders submitted suggested surtax Tax Appeals taxable taxation taxpayer Territory of Hawaii tion TREADWAY Treasury Department trust United
Popular passages
Page 267 - ... 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 261 - ... 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 264 - BASIS. (a) Dealers in personal property. — Under regulations prescribed by the Commissioner with the approval of the Secretary, a person who regularly sells or otherwise disposes of personal property on the installment plan may return as income therefrom in any taxable year that proportion of the installment payments actually received in that year which the gross profit realized or to be realized when payment is completed, bears to the total contract price.
Page 435 - fiduciary" means a guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person. (7) The term " withholding agent " means any person required to deduct and withhold any tax under the provisions of section 143 or 144.
Page 457 - ... bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 280 - For purposes of this section, the term "earned income" means wages, salaries, or professional fees, and other amounts received as compensation for personal services actually rendered, but does not include that part of the compensation derived by the taxpayer for personal services rendered by him to a corporation which represents a distribution of earnings or profits rather than a reasonable allowance as compensation for the personal services actually rendered. In the case of a taxpayer engaged in...
Page 423 - ... because there is accumulated and maintained by it a reserve required by State law or a reasonable reserve for any necessary purpose.
Page 422 - ... for the purpose of purchasing supplies and equipment for the use of members or other persons, and turning over such supplies and equipment to them at actual cost, plus necessary expenses.
Page 422 - Farmers', fruit growers', or like associations organized and operated on a cooperative basis (a) for the purpose of marketing the products of members or other producers, and turning back to them the proceeds of sales, less the necessary marketing expenses...
Page 257 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...