Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932 |
From inside the book
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Page viii
... mineral properties including oil and gas properties_ 228. Revaluation of mineral deposits not allowed.- 229. Determination of mineral contents of mines and of oil or gas wells____ 230. Depletion - Adjustments of accounts based on bonus ...
... mineral properties including oil and gas properties_ 228. Revaluation of mineral deposits not allowed.- 229. Determination of mineral contents of mines and of oil or gas wells____ 230. Depletion - Adjustments of accounts based on bonus ...
Page xi
... mineral deposits . - Section 103. Exemptions from tax on corporations .. Article 521. Proof of exemption_ . 147 Sale of mines and oil or gas wells . 149 149 149 152 522. Labor , agricultural , and horticultural organizations .. 523 ...
... mineral deposits . - Section 103. Exemptions from tax on corporations .. Article 521. Proof of exemption_ . 147 Sale of mines and oil or gas wells . 149 149 149 152 522. Labor , agricultural , and horticultural organizations .. 523 ...
Page 55
... minerals which through the process of removal suffer depletion , other provisions for this being made in the Act . ( See sections 23 ( 1 ) and 114 and articles 221-248 and 611. ) Property kept in repair may , nevertheless , be the ...
... minerals which through the process of removal suffer depletion , other provisions for this being made in the Act . ( See sections 23 ( 1 ) and 114 and articles 221-248 and 611. ) Property kept in repair may , nevertheless , be the ...
Page 60
... mineral properties , or timber , whether freehold or leasehold , is allowed annual depletion and depreciation ... mineral property " is the mineral deposit , the development and plant necessary for its extraction , and so much of the ...
... mineral properties , or timber , whether freehold or leasehold , is allowed annual depletion and depreciation ... mineral property " is the mineral deposit , the development and plant necessary for its extraction , and so much of the ...
Page 61
... mineral deposit is that proportion of the total cost of the mineral property which the value of the deposit bears to the value of the property at the time of its purchase . ( d ) " Minerals " include ores of the metals , coal , oil ...
... mineral deposit is that proportion of the total cost of the mineral property which the value of the deposit bears to the value of the property at the time of its purchase . ( d ) " Minerals " include ores of the metals , coal , oil ...
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Common terms and phrases
allocated applicable assessment basis beneficiary calendar capital net gain cent centum claim collector Commissioner cost December 31 deductible from gross deficiency depletion depletion allowance depreciation determined disposition distraint distribution dividends domestic corporation earnings or profits employees entitled estate or trust exceed excess expenses fair market value February 28 fiduciary filed fiscal foreign corporation foreign country gain or loss grantor gross income included income from sources income tax installment insurance companies interest Internal Revenue inventory liability mineral nonresident alien individual operating paid or accrued paragraph partnership payment period personal exemption political subdivision preferred stock prescribed prior to March provided in section provisions of section purchased purpose refund reorganization respect return of income Revenue Act section 113 shareholders shares of stock sold stock or securities surtax tax imposed taxable taxpayer thereof timber tion trade or business transfer trust instrument wash sales
Popular passages
Page 11 - Gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service, 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...
Page 138 - ... any income return or copy thereof or any book containing any abstract or particulars thereof to be seen or examined by any person except as provided by law...
Page 166 - No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment.
Page 164 - If property (as a result of its destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation, or the threat or imminence thereof...
Page 170 - ... 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 194 - 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 139 - ... it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 54 - 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 112 - 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 224 - ... paid by such foreign corporation to any foreign country or to any possession of the United States, upon or with respect to the accumulated profits of such foreign corporation from which such dividends were paid, which the amount of such dividends bears to the amount of such accumulated profits...