Internal Revenue. Hearing ... May 9-27, 19211921 - 789 pages |
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Page 24
... selling at the bid or market price and collecting in addi- tion the amount of the tax , with the wholesaler following the same course and adding the amount of the tax to the bottom of his invoice ; and the retailer , not wishing to ...
... selling at the bid or market price and collecting in addi- tion the amount of the tax , with the wholesaler following the same course and adding the amount of the tax to the bottom of his invoice ; and the retailer , not wishing to ...
Page 40
... selling the commodity for less than cost ? . Mr. SATTERLEE . You can not then , but neither can you shift a specific - sales tax or any other item of cost . Senator JONES . But you are seeking now to extend the turnover tax and ...
... selling the commodity for less than cost ? . Mr. SATTERLEE . You can not then , but neither can you shift a specific - sales tax or any other item of cost . Senator JONES . But you are seeking now to extend the turnover tax and ...
Page 48
... selling price would scarcely ever be more than 31 per cent , and would usually not be more than 2 per cent . The difference in favor of a multiple process enterprise would usually be less than 1 per cent . If a single - process ...
... selling price would scarcely ever be more than 31 per cent , and would usually not be more than 2 per cent . The difference in favor of a multiple process enterprise would usually be less than 1 per cent . If a single - process ...
Page 57
... selling prices were higher too ? Mr. SMITH . They did not keep pace with the costs , of course . The CHAIRMAN . As I understand it , when you sell an airbrake to a purchaser you sell it subject to the tax . You would not pay the tax ...
... selling prices were higher too ? Mr. SMITH . They did not keep pace with the costs , of course . The CHAIRMAN . As I understand it , when you sell an airbrake to a purchaser you sell it subject to the tax . You would not pay the tax ...
Page 61
... selling below cost ? Mr. SMITH . We are not selling anything at cost or below , prac- tically . We are not selling anything . In fact , our business to - day is running less time than at any time since 1893 . The CHAIRMAN . Are your ...
... selling below cost ? Mr. SMITH . We are not selling anything at cost or below , prac- tically . We are not selling anything . In fact , our business to - day is running less time than at any time since 1893 . The CHAIRMAN . Are your ...
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Common terms and phrases
amount Association automobile believe billion burden cent tax CHAIRMAN CLARK collected committee commodities Congress consumer consumption consumption tax corporation cost cough drops dealer distributed dividends dollars earnings estimate excess excess-profits tax excise taxes exemption fact farmers favor Federal flat tax going Government grape juice HANCH imposed income tax increase individual industry Internal Revenue invested capital jobber levied Luden's manufacturer MCKENZIE merchant National paid passed Philippines present tax production Prof profits tax proposed question raise repeal represent retail revenue stamp sales or turnover securities sell Senator CALDER Senator DILLINGHAM Senator JONES Senator LA FOLLETTE Senator MCCUMBER Senator MCLEAN Senator SIMMONS Senator SMOOT Senator WALSH Senator WATSON shifted SMITH SMITH BROS sold stamp statement stockholders sumer surtaxes tax law tax-exempt taxable taxation taxpayer tion to-day transactions Treasury turnover tax undistributed United WILFLEY
Popular passages
Page 403 - All of the expenses of the commission, including all necessary expenses for transportation incurred by the commissioners or by their employees under their orders, in making any investigation, or upon official business in any other places than in the city of Washington, shall be allowed and paid on the presentation of itemized vouchers therefor approved by the commission.
Page 536 - In the case of a resident, by deducting from the value of the gross estate — ******* (3) The amount of all bequests, legacies, devises, or transfers, to or for the use of the United States, any State, Territory, any political subdivision thereof, or the District of Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes...
Page 403 - A vacancy in the Board shall not impair the right of the remaining members to exercise all the powers of the Board, and three members of the Board shall, at all times, constitute a quorum. The Board shall have an official seal which shall be judicially noticed.
Page 92 - The tax which each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor, and to every other person.
Page 403 - ... to employ and fix the compensation of such attorneys, special experts, examiners, clerks, and other employees as it may from time to time find necessary for the proper performance of its duties and as may be from time to time appropriated for by Congress.
Page 653 - I do not want art for a few, any more than education for a few, or freedom for a few.
Page 532 - ... any part of the gross income which, pursuant to the terms of the will or deed creating the trust...
Page 532 - The net income of the estate or trust shall be computed in the same manner and on the same basis as provided In section 212...
Page 92 - Every tax ought to be levied at the time, or in the manner in which it is most likely to be convenient for the contributor to pay it.
Page 213 - Act of 1918) upon all articles commonly or commercially known as jewelry, whether real or imitation; pearls, precious and semiprecious stones, and imitations thereof; articles made of, or ornamented, mounted or fitted with, precious metals or imitations thereof...