Comparison of the Revenue Acts of 1934 and 1936 |
From inside the book
Results 1-5 of 78
Page 21
... approval of the Secretary , may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income . ( d ) DISTRIBUTIONS BY CORPORATIONS . - Distribu- tions by ...
... approval of the Secretary , may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income . ( d ) DISTRIBUTIONS BY CORPORATIONS . - Distribu- tions by ...
Page 25
... approval of the Secretary . In any case in which it is ascertained as a result of operations or of development work that the recoverable units are greater or less than the prior estimate thereof , then such prior estimate ( but not the ...
... approval of the Secretary . In any case in which it is ascertained as a result of operations or of development work that the recoverable units are greater or less than the prior estimate thereof , then such prior estimate ( but not the ...
Page 26
... approval of the Secretary . ( For unlimited deduction if contributions and gifts exceed 90 per centum of the net income , see section 120. ) ( p ) DIVIDENDS RECEIVED BY CORPORATIONS . In the ease of a corporation , 90 per centum of the ...
... approval of the Secretary . ( For unlimited deduction if contributions and gifts exceed 90 per centum of the net income , see section 120. ) ( p ) DIVIDENDS RECEIVED BY CORPORATIONS . In the ease of a corporation , 90 per centum of the ...
Page 32
... approval of the Secretary , in accordance with the number of months before and after such change . For the purpose of such appor- tionment a fractional part of a month shall be disre- garded unless it amounts to more than half a month ...
... approval of the Secretary , in accordance with the number of months before and after such change . For the purpose of such appor- tionment a fractional part of a month shall be disre- garded unless it amounts to more than half a month ...
Page 38
... 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 ...
... 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 ...
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Common terms and phrases
adjusted net income Agricultural Adjustment Act allowed amended amount apply approved August 30 basis Board centum in addition claim claimant collected collector Commissioner computed court credit or refund decedent December 31 deduction deficiency determined distraint distribution District of Columbia enactment estates in excess excess-profits taxes exempt Federal excise tax fiduciary filed foreign corporation gifts in excess gross estate gross income imposed by section income from sources incomes in excess interest June 30 ment net estates net gifts nonresident alien normal tax NOTE.-Section overpayment paragraph payment period person petition place of business prior processing tax producer provided in section provisions of law purposes read as follows received regulations prescribed respect Revenue Act Secretary section 23 section 601 shareholder stock or securities subdivision subsection surtax net incomes tax imposed taxable years beginning taxpayer thereof tion trade or business Treasury trust United
Popular passages
Page 67 - ... a transfer by a corporation of all or a part of its assets to another corporation if immediately after the transfer the transferor or its stockholders or both are in control of the corporation to which the assets are transferred, or (C) a recapitalization, or (D) a mere change in identity, form, or place of organization, however effected. (2) The term "a party to a reorganization...
Page 38 - 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 65 - If an exchange would be within the provisions of subsection (b), (1), (2), (3), or (5) of this section 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...
Page 106 - ... (b) Nonresident aliens. — All persons, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control, receipt, custody, disposal, or payment of interest (except interest on deposits with persons carrying on the banking business paid to persons not engaged in business in the United States and not having an office or place of business (therein...
Page 22 - Interest. — All interest paid or accrued within the taxable year on indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is wholly exempt from taxation under this title.
Page 37 - 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...
Page 289 - partnership" includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this title, a trust or estate or a corporation; and the term "partner" includes a member in such a syndicate, group, pool, joint venture, or organization.
Page 79 - IN LIQUIDATION. — Amounts distributed in complete liquidation of a corporation shall be treated as in full payment in exchange for the stock, and amounts distributed in partial liquidation of a corporation shall be treated as in part or full payment in exchange for the stock.
Page 92 - States, there shall be deducted (for the purpose of computing the net income therefrom) the expenses, losses, and other deductions properly apportioned or allocated thereto and a ratable part of other expenses, losses, or other deductions which cannot definitely be allocated to some item or class of gross income.
Page 24 - A reasonable allowance for the exhaustion, wear and tear of property used in the trade or business, including a reasonable allowance for obsolescence.