Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924 |
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Page v
... paid other than in cash . 34. Compensation paid in notes . 5 6 7 7 8 8 9 10 10 10 11 12 12 13 35. Gross income from business_ 13 36. Long - term contracts 13 37. State contracts__ 14 38. Gross income of farmers .. 14 39. Sale of stock ...
... paid other than in cash . 34. Compensation paid in notes . 5 6 7 7 8 8 9 10 10 10 11 12 12 13 35. Gross income from business_ 13 36. Long - term contracts 13 37. State contracts__ 14 38. Gross income of farmers .. 14 39. Sale of stock ...
Page xiv
... paid . 204 Article 1201. Date on which tax shall be paid- 1202. Collection of tax by suit ---- 1203. Collection of tax by distraint_ 1204. Liens and enforcement of tax liens by bill in equity . 1205. Compromise of tax cases ---- Section ...
... paid . 204 Article 1201. Date on which tax shall be paid- 1202. Collection of tax by suit ---- 1203. Collection of tax by distraint_ 1204. Liens and enforcement of tax liens by bill in equity . 1205. Compromise of tax cases ---- Section ...
Page xvi
... paid or in- curred , " and " paid or accrued " 262 Section 201. Distributions by corporations_ 262 Article 1541. Dividends 263 1542. Source of distribution_____ 264 1543. Distributions out of earnings or profits accumulated prior to ...
... paid or in- curred , " and " paid or accrued " 262 Section 201. Distributions by corporations_ 262 Article 1541. Dividends 263 1542. Source of distribution_____ 264 1543. Distributions out of earnings or profits accumulated prior to ...
Page 1
... paid for each taxable year upon the net income of every individual ( except as provided in subdivision ( b ) of this section ) a normal tax of 6 per centum of the amount of the net income in excess of the credits provided in section 216 ...
... paid for each taxable year upon the net income of every individual ( except as provided in subdivision ( b ) of this section ) a normal tax of 6 per centum of the amount of the net income in excess of the credits provided in section 216 ...
Page 12
... paid may nevertheless be claimed as a credit against the total amount of tax due in accord- ance with section 221 ( d ) and article 376. As to the determination of gain or loss from sale or disposition of property , see sections 202 ...
... paid may nevertheless be claimed as a credit against the total amount of tax due in accord- ance with section 221 ( d ) and article 376. As to the determination of gain or loss from sale or disposition of property , see sections 202 ...
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Common terms and phrases
addition amended assessed assets basic date basis beneficiary calendar cent centum certificates certificates of indebtedness citizen claim collected collector Commissioner computing net income cost December 31 deductible from gross deductions allowed deficiency depletion deposit depreciation determined distraint distribution dividends domestic corporation duction employees entitled estate or trust excess-profits taxes exemption expenses fair market value February 28 fiduciary filed foreign corporation gain or loss gross income included income from sources income tax installment insurance companies interest Internal Revenue inventory Liberty Bond Liberty loan mineral nonresident alien individual notice and demand office or place operating paragraph partnership payment period person place of business preferred stock prescribed prior provided in section purchase purpose received reserve resident Revenue Act section 262 shareholders statute and articles stock or securities surtax tax imposed taxable taxpayer thereof timber tion trade or business Treasury United vidual war-profits withholding agent
Popular passages
Page 11 - Columbia, the compensation received as such), of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income derived from any source whatever.
Page 44 - SEC. 214 (a) (3) Taxes paid or accrued within the taxable year except (A) income, war-profits, and excessprofits taxes imposed by the authority of the United States, (B) so much of the income, warprofits, and excess-profits taxes, imposed by the authority of any foreign country or possession of the United allowed as a credit against the tax under section 131; and (3) taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 137 - That every partnership shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowed by this title, and shall include in the return the names and addresses of the individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual. The return shall be sworn to by any one of the partners.
Page 161 - ... (B) from a foreign corporation unless less than 50 per centum of the gross income of such foreign corporation for the three-year period ending with the close of its taxable year preceding the declaration of such dividends (or for such part of such period as the corporation has been in existence) was derived from sources within the United States as determined under the provisions of this section...
Page 263 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Page 44 - States) ; (3) estate, inheritance, legacy, succession and gift taxes; and (4) taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 201 - States — • (1) If 80 per centum or more of the gross income of such citizen or domestic corporation (computed without the heneflt of this section), for the three-year period immediately preceding the close of the taxable year (or for such part of such period immediately preceding the close of such taxable year as may be applicable) was derived from sources within a possession of the United States...
Page 278 - If the property was acquired after December 31, 1920, by a transfer in trust (other than by a transfer in trust by a gift, bequest, or devise) the basis shall be the same as it would be in the hands of the grantor, increased in the amount of gain or decreased in the amount of loss recognized to the grantor upon such transfer under the law applicable to the year in which the transfer was made.
Page 301 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 95 - For gains, profits, and income from the sale of personal property, see subsection (e). "(b) NET INCOME FROM SOURCES IN UNITED STATES. — From the items of gross income specified in subsection (a) of this section there shall be deducted the expenses, losses, and other deductions properly apportioned or allocated thereto and a ratable part of any expenses, losses, or other deductions which can not definitely be allocated to some item or class of gross income.