United States Code, Volumen3Office of the Law Revision Counsel of the House of Representatives, 1953 |
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Página 3282
... June 30 , 1950 , recourse is to be had to sec- tion 108 ( e ) - ( g ) of this title . EFFECTIVE DATE OF 1945 AMENDMENT Section 122 ( g ) of act Nov. 8 , 1945 , provided that the amendment of this section was made applicable to tax- able ...
... June 30 , 1950 , recourse is to be had to sec- tion 108 ( e ) - ( g ) of this title . EFFECTIVE DATE OF 1945 AMENDMENT Section 122 ( g ) of act Nov. 8 , 1945 , provided that the amendment of this section was made applicable to tax- able ...
Página 3289
... June 30 , 1950 , and prior to January 1 , 1954 . ( i ) Adjustment of net income and resulting tax . If , for any taxable year ending after June 30 , 1950 , and prior to January 1 , 1954 , the closing inventory of a taxpayer inventorying ...
... June 30 , 1950 , and prior to January 1 , 1954 . ( i ) Adjustment of net income and resulting tax . If , for any taxable year ending after June 30 , 1950 , and prior to January 1 , 1954 , the closing inventory of a taxpayer inventorying ...
Página 3292
... June 9 , 1943 , which among other changes made a blanket allowance of $ 1,500 in lieu of former allowance of $ 250 ... 30 , 1950 , by sec- tion 306 ( b ) of act Oct. 20 , 1951. Amendment of subsec . ( n ) by addition of paragraph ...
... June 9 , 1943 , which among other changes made a blanket allowance of $ 1,500 in lieu of former allowance of $ 250 ... 30 , 1950 , by sec- tion 306 ( b ) of act Oct. 20 , 1951. Amendment of subsec . ( n ) by addition of paragraph ...
Página 3293
... June 30 , 1945 , if the provisions thereof satisfy such re- quirements by June 30 , 1945 , and if by that time all provisions of such plan which are necessary to satisfy such requirements are in effect and have been made effective for ...
... June 30 , 1945 , if the provisions thereof satisfy such re- quirements by June 30 , 1945 , and if by that time all provisions of such plan which are necessary to satisfy such requirements are in effect and have been made effective for ...
Página 3312
... 30 per centum of its normal - tax net income computed without re- gard to the credit provided in this subsection . ( 53 Stat . 18 ; June 29 , 1939 , 10 p . m . , E. S. T. , ch . 247 , title II , § 211 ( j ) , 53 Stat . 869 ; Oct. 21 ...
... 30 per centum of its normal - tax net income computed without re- gard to the credit provided in this subsection . ( 53 Stat . 18 ; June 29 , 1939 , 10 p . m . , E. S. T. , ch . 247 , title II , § 211 ( j ) , 53 Stat . 869 ; Oct. 21 ...
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Términos y frases comunes
241 of Title 53 Stat 64 Stat acquiring corporation act Feb Act May 28 act Sept added by act adjusted basis allowed amended by act Amendment of subsec AMENDMENT Section applicable to taxable assessment assets authorize their performance average base period beginning after Dec beginning after December centum chapter component corporation computed decedent December 31 deduction deficiency DERIVATION Act determined dividends EFFECTIVE DATE exceed excess profits credit excess profits tax filed FUNCTIONS All functions gross income included Internal Revenue Code July 31 June 30 note under section number of days paid paragraph payment period net income prior profits net income provided in section purposes regulations prescribed Reorg respect to taxable Revenue Act sale or exchange Secretary section 23 shareholders spouse subchapter subparagraph subsection surtax Tax Court tax imposed taxable years beginning taxable years ending taxpayer thereof tion transaction TRANSFER OF FUNCTIONS TREATY OBLIGATIONS Section United
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Página 3315 - 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...
Página 3317 - 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.
Página 3363 - dividend" when used in this title (except in section 203 (a) (3^ and section 207 (c) ( 1) , relating to insurance companies) means any distribution made by a corporation to its shareholders, whether in money or in other property, (1) out of its earnings or profits accumulated after February 28, 1913, or (2) out of the earnings or profits of the taxable year (computed as of the close of the taxable year without diminution by reason of any distributions made during the taxable year) , without regard...
Página 3345 - 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 of the corporation...
Página 3362 - The allowance for depletion under section 23 (m) shall be, in the case of coal mines, 5 per centum, in the case of metal mines, 15 per centum, and, in the case of sulphur mines or deposits, 23 per centum, of the gross income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or incurred by the taxpayer in respect of the property.
Página 3355 - ... then the basis shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made; (9) Tax-free distributions.
Página 3327 - ... any income return or copy thereof or any book containing any abstract or particulars thereof to be seen or examined by any person except as provided by law ; and 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...
Página 3348 - ... if it were not for the fact that the property received in exchange consists not only of property permitted by such paragraph to be received without the recognition of gain, but also of other property or money, then the gain, if any, to the recipient shall be recognized, but in an amount not in excess of the sum of such money and the fair market value of such other property.
Página 3296 - 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.
Página 3345 - No gain or loss shall be recognized if a corporation a party to a reorganization exchanges property, in pursuance of the plan of reorganization, solely for stock or securities in another corporation a party to the reorganization.