Investigation of Concentration of Economic Power: MonographU.S. Government Printing Office, 1941 |
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Common terms and phrases
15 percent amount beverages Bureau of Internal capital stock tax capital-stock tax cash dividends CENT Chain stores chart Chemicals compiled net profits consolidated returns consolidated tax returns corporate income taxes corporate profits corporate receipts corporation taxes corporations of varying credit for intercorporate deduction dends Department of Commerce distributed dollars Dun & Bradstreet enterprise excess excess-profits tax excise tax exemption Federal corporate income Federal excises Federal income taxes Federal taxes finance fiscal forest products gross income gross margin income-tax returns intercorporate dividends Internal Revenue Leather manufacturing industries Miscellaneous normal tax pay-roll tax percent of corporate percentages Petroleum porations property tax public utilities reported Revenue Act Rubber sales taxes small corporations Statistics of Income statutory substantially surtax on undistributed tax payments tax rates tax ratio taxable net income taxes as percent taxes on corporate taxes paid Textiles tion tobacco Total taxes undistributed profits tax undistributed-profits tax
Popular passages
Page 22 - Exemption shall not be denied any such association because it has capital stock, if the dividend rate of such stock is fixed at not to exceed the legal rate of interest in the State of incorporation or 8 per centum per annum, whichever is greater, on the value of the consideration for which the stock was issued...
Page 74 - A distribution made by a corporation to its shareholders in its stock or in rights to acquire its stock shall not be treated as a dividend to the extent that it does not constitute income to the shareholder within the meaning of the Sixteenth Amendment to the Constitution.
Page 1 - To meet the situation I have described, there should be a thorough study of the concentration of economic power in American industry and the effect of that concentration upon the decline of competition.
Page 42 - For the purpose of this section two or more domestic corporations shall be deemed to be affiliated (1) if one corporation owns directly or controls, through closely affiliated interests or by a nominee or nominees substantially all the stock of the other or others, or (2) if substantially all the stock of two or more corporations is owned or controlled by the same interests.
Page 123 - P) if such corporation, however created or organized, is formed or availed of for the purpose of preventing the imposition of the surtax upon its shareholders or the shareholders of any other corporation, through the medium of permitting earnings or profits to accumulate instead of being divided or distributed...
Page 44 - affiliated group" means one or more chains of corporations connected through stock ownership with a common parent corporation if — (1) At least 95 per centum of the stock of each of the corporations (except the common parent corporation) is owned directly by one or more of the other corporations ; and (2) The common parent corporation owns directly at least...
Page 42 - ... net income of the entire organization. Where such branches or units of a business are owned and controlled through the medium of separate corporations, it is necessary to require a consolidated return in order that the invested capital and net income of the entire group may be accurately determined. Otherwise opportunity would be afforded for the evasion of taxation by the shifting of income through price fixing, charges for services and other means by which income could be arbitrarily assigned...
Page 43 - As used in this subsection, the term "stock" does not include nonvoting stock which is limited and preferred as to dividends. (b) Definition of "includible corporation". As used in this chapter, the term "includible corporation" means any corporation except — (1) Corporations exempt from taxation under section 501.
Page 70 - ... (g) Corporate Shareholders. — If the shareholder who makes the consent is a corporation, the amount specified in the consent shall be considered as part of its earnings or profits for the taxable year, and shall be included in the computation of its accumulated earnings and profits.
Page 22 - Benevolent life insurance associations of a purely local character, mutual ditch or irrigation companies, mutual or cooperative telephone companies, or like organizations; but only if 85 per centum or more of the income consists of amounts collected from members for the sole purpose of meeting losses and expenses...