Regulations 64 Relating to the Capital Stock Tax Under Section 701 of the Revenue Act of 1934 |
From inside the book
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Page 12
... allowed corporations against net income ( for example , the credit allowed by section 26 of the Revenue Act of 1934 ) are not applicable . ( 4 ) The entire amount of the corporate income wholly exempt from the tax imposed by Title I of ...
... allowed corporations against net income ( for example , the credit allowed by section 26 of the Revenue Act of 1934 ) are not applicable . ( 4 ) The entire amount of the corporate income wholly exempt from the tax imposed by Title I of ...
Page 35
... of record owning 1 per centum or more of the outstanding stock of any corporation shall , upon making request of the Commissioner , be allowed to examine the annual income returns of such corporation and of its subsidiaries . Any 35.
... of record owning 1 per centum or more of the outstanding stock of any corporation shall , upon making request of the Commissioner , be allowed to examine the annual income returns of such corporation and of its subsidiaries . Any 35.
Page 36
... allowed to examine the return of any corporation , and who makes known in any manner whatever not provided by law the amount or source of income , profits , losses , expenditures , or any particular thereof , set forth or disclosed in ...
... allowed to examine the return of any corporation , and who makes known in any manner whatever not provided by law the amount or source of income , profits , losses , expenditures , or any particular thereof , set forth or disclosed in ...
Page 43
... REVENUE ACT OF 1928 ( a ) Interest shall be allowed and paid upon any overpayment in respect of any internal - revenue tax , at the rate of 6 per centum per annum , as follows : ( 1 ) In the case of a credit , 43 Adjusted declared value.
... REVENUE ACT OF 1928 ( a ) Interest shall be allowed and paid upon any overpayment in respect of any internal - revenue tax , at the rate of 6 per centum per annum , as follows : ( 1 ) In the case of a credit , 43 Adjusted declared value.
Common terms and phrases
26 Mutual activities adjusted declared value amount assessment benevolent life insurance Business leagues business_ capital employed capital stock tax centum collected Commissioner of Internal Corporations organized CORPORATIONS SECTION 701 corporations_ December 31 declaration of value distraint domestic corporation ending June 30 engaged entitled to exemption excise tax exempt__ exemption under section failure to file false or fraudulent Federal income tax file a return foreign corporation gift taxes imposed by section includes income tax purposes Industrial Recovery Act insurance company Internal Revenue inures last income-tax taxable lease limited partnerships Mutual savings banks National Industrial Recovery net income nonmembers operated exclusively organized and operated original declared value paid payment person preferred stock prescribed private shareholder producers profit refund regulations return or list REVENUE ACT Revised Statutes section 215 stock tax return supplies and equipment tax is imposed taxable year ending term Territories of Alaska thereof tion United willfully
Popular passages
Page 25 - ... not to engage in a regular business of a kind ordinarily carried on for profit. 1t is an organization of the same general class as a chamber of commerce or board of trade. Thus, its activities should be directed to the improvement of business conditions of one or more lines of business as distinguished from the performance of particular services for individual persons.
Page 42 - The amount so added to any tax shall be collected at the same time and in the same manner and as a part of the tax unless the tax has been paid before the discovery of the neglect, falsity, or fraud, in which case the amount so added shall be collected in the same manner as the tax.
Page 40 - person" as used in this section includes an officer or employee of a corporation or a member or employee of a partnership, who as such officer, employee, or member is under a duty to perform the act in respect of which the violation occurs.
Page 37 - ... shall, in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than one year, or both, together with the costs of prosecution.
Page 39 - America is a stockholder ; or whoever shall enter into any agreement, combination, or conspiracy to defraud the Government of the United States, or any department or officer thereof, or any corporation in which the United States of America is a stockholder...
Page 38 - IX, or willfully attempts in any manner to evade or defeat any such tax or the payment thereof, shall, in addition to other penalties provided by law, be liable to a penalty of the amount of the tax evaded, or not paid, collected or accounted for and paid over, to be assessed and collected in the same manner as taxes are assessed and collected.
Page 35 - The Secretary and any officer or employee of the Treasury Department, upon request from the Committee on Ways and Means of the House of Representatives, the Committee on Finance of the Senate, or a select committee of the Senate or House...
Page 41 - Every person liable to any tax imposed by this Act, or for the collection thereof, shall keep such records, render under oath such statements, make such returns, and comply with such rules and regulations, as the Commissioner, with the approval of the Secretary, may from time to time prescribe.
Page 37 - ... any person who willfully attempts in any manner to evade or defeat any tax imposed by this chapter or the payment thereof, shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than five years, or both, together with the costs of prosecution.
Page 20 - ... a reserve required by state law or a reasonable reserve for any necessary purpose.