The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1971 - Administrative law The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
accumulated earnings acquired adjusted basis aggregation allocated allowed amended by T.D. amount apply bad debts beginning after December business lease cluded common trust fund computed corporation cost December 31 defined in section dends depletion described in section determined distribution duction earnings and profits election under section eral erty example exempt from tax expenditures fair market value filed foreign personal holding graph gross income holding company income included income tax Internal Revenue Code losses on qualifying ment operating mineral interests operating unit ownership paragraph payer payment percent personal holding company prior provided in section purposes qualifying real property real property loans relating reserve for losses respect royalties section 501 separate operating mineral separate property shareholder spect Statutory provisions subdivision subparagraph subsequent taxable tax imposed taxable years beginning taxpayer term timber tion tract or parcel trade or business treated trust described unrelated trade
Popular passages
Page 12 - ... organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual, no substantial part of the activities of which is carrying on propaganda, or otherwise attempting, to influence legislation, and which does not participate in, or intervene in (including the publishing or...
Page 19 - Fraternal beneficiary societies, orders, or associations, (A) operating under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system...
Page 72 - 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, on the basis of either the quantity or the value of the products furnished by them, or (b) 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...
Page 21 - 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 11 - Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this title...
Page 201 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate; (3) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made...
Page 154 - ... bank" means a bank or trust company Incorporated and doing business under the laws of the United States (including laws relating to the District of Columbia) , of any State, or of any Territory, a substantial part of the business of which consists of receiving deposits and making loans and discounts, or of exercising fiduciary powers similar to those permitted to national banks under authority of the Comptroller of the Currency, and which is subject by law to supervision and examination by State,...
Page 44 - ... such creator or person through the ownership, directly or Indirectly, of 50 percent or more of the total combined voting power of all classes of stock entitled to vote or 50 percent or more of the total value of shares of all classes of stock of the corporation.
Page 189 - In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case...
Page 200 - Basis for depletion. (1) General rule. The basis upon which depletion Is to be allowed In respect of any property shall be the adjusted basis provided In section 113 (b) for the purpose of determining the gain upon the sale or other disposition of such property, except as provided In paragraphs (2), (3), and (4) of this subsection.