Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and Index
Division of the Federal Register, the National Archives, 1972 - Administrative law
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able accordance accumulated acquired addition adjusted basis aggregation allocated allowed amended amount applicable association bank bases benefits capital close Code computed consent considered constitute cooperative corporation cost December 31 deduction Department depletion deposit described in section determined distribution dividends dividends paid earnings effective election example exempt expenditures facts Federal filed foreign fund gain graph gross income included indebtedness Internal Internal Revenue Code January land lease limitation loans losses manner means ment method mining operating mineral interests organization paragraph payment percent period personal holding company portion prior profits qualifying real property reason received referred regulations relating reserve respect result rules securities separate Service share shareholder subparagraph subsequent taxable income taxable years beginning taxpayer term timber tion tract trade or business treated treatment trust unit
Page 83 - In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant...
Page xv - UNRELATED TRADE OR BUSINESS. (a) GENERAL RULE.— The term "unrelated trade or business" means, in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the profits derived ) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption...
Page 23 - control" means the ownership of stock possessing at least 80 percent of the total combined voting power of all classes of stock entitled to vote and at least 80 percent of the total number of shares of all other classes of stock of the corporation.
Page 23 - Is personal holding company Income as defined In section 543, and (2) Stock ownership requirement. At any time during the last half of the taxable year more than 50 percent In value of Its outstanding stock Is owned, directly or Indirectly, by or for not more than 5 Individuals.
Page 127 - Zones Board VI Bureau of Domestic Commerce, Department of Commerce VIII Office of Business Economics, Department of Commerce IX National Oceanic and Atmospheric Administration, Department of Commerce X Office of Foreign Direct Investments, Department of Commerce XII United States Travel Service, Department of Commerce Chap.
Page 9 - 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 percent per annum, whichever is greater, on the value of the consideration for which the stock was issued...
Page 18 - The fact that the earnings or profits of a corporation are permitted to accumulate beyond the reasonable needs of the business shall be determinative of the purpose to avoid surtax upon shareholders unless the corporation by the clear preponderance of the evidence shall prove to the contrary.
Page 7 - Such an association may market the products of nonmembers in an amount the value of which does not exceed the value of the products marketed for members, and may purchase supplies and equipment for nonmembers in an amount the value of which does not exceed the value of the supplies and equipment purchased for members, provided the value of the purchases made for persons who are neither members nor producers does not exceed 15 per centum of the value of all its purchases.