The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1966 - Administrative law The Code of federal regulations is the codification of the general and permanent rules published in the Federal register by the executive departments and agencies of the federal government. |
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Results 1-5 of 100
Page 21
... percent rate shall each be computed before the allowance of any credits against the tax . Where the alternative tax on capital gains is imposed under section 1201 ( b ) , the 87 percent limitation shall apply only to the partial tax ...
... percent rate shall each be computed before the allowance of any credits against the tax . Where the alternative tax on capital gains is imposed under section 1201 ( b ) , the 87 percent limitation shall apply only to the partial tax ...
Page 22
... percent of the taxable in- come for the taxable year is to be applied before the third step above , that is , the limitation to be applied upon the tax is determined as the applicable specified percent of one - half of the taxable in ...
... percent of the taxable in- come for the taxable year is to be applied before the third step above , that is , the limitation to be applied upon the tax is determined as the applicable specified percent of one - half of the taxable in ...
Page 37
... percent standard deduction for married persons filing separate returns ) or Table V ( re- lating to the minimum standard deduc- tion for married persons filing separate returns ) of section 3 ( a ) , and ( ii ) For taxable years ...
... percent standard deduction for married persons filing separate returns ) or Table V ( re- lating to the minimum standard deduc- tion for married persons filing separate returns ) of section 3 ( a ) , and ( ii ) For taxable years ...
Page 38
... percent of the taxable income . ( c ) Surtax . The surtax is equal to 22 per- cent of the amount by which the taxable income ( computed without regard to the deduction , if any , provided in section 242 for partially tax - exempt ...
... percent of the taxable income . ( c ) Surtax . The surtax is equal to 22 per- cent of the amount by which the taxable income ( computed without regard to the deduction , if any , provided in section 242 for partially tax - exempt ...
Page 39
... Percent For taxable years beginning before July 1 , 1964 . For taxable years beginning after June 30 , 1964 . 30 25 ( d ) The surtax is at the rate of 22 per- cent and is upon the taxable income ( computed without regard to the deduc ...
... Percent For taxable years beginning before July 1 , 1964 . For taxable years beginning after June 30 , 1964 . 30 25 ( d ) The surtax is at the rate of 22 per- cent and is upon the taxable income ( computed without regard to the deduc ...
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Common terms and phrases
adjusted basis adjusted gross income affiliated group amended by T.D. amounts received annuity starting date apply apportioned asset attributable beneficiary benefits calendar carryback ceived có có có computed contributions corporation credit allowed December 31 depreciation described in section dividends received earned income employee erty estate or trust exceed excess excluded from gross expected return filing graph included in gross income tax individual Internal Revenue Code January joint return June 30 lessee lessor ment minus nonresident alien paragraph partnership payments pension percent period person placed in service premiums purchase purposes of section qualified investment regulations thereunder respect retirement income credit section 21 section 38 property section 48(g section 72 special rules spect standard deduction Statutory provisions subdivision subparagraph subsection surviving spouse taken into account tax imposed tax under section taxable income taxable year beginning taxable year ending taxpayer trade or business unused credit wife
Popular passages
Page 305 - A reasonable allowance for salaries or other compensation for personal services actually rendered; (2) Traveling expenses (including the entire amount expended for meals and lodging) while away from home in the pursuit of a trade or business; and (3) Rentals or other payments required to be made as a condition to the continued use or possession, for purposes of the trade or business, of property to which the taxpayer has not taken or is not taking title or in which he has no equity.
Page 307 - The cost of incidental repairs which neither materially add to the value of the property nor appreciably prolong its life, but keep it in an ordinarily efficient operating condition, may be deducted as expense, provided the plant or property account is not increased by the amount of such expenditures.
Page 112 - SEC. 61. Gross income defined — (a) General definition. Except as otherwise provided in this subtitle, gross income means all income from whatever source derived. including (but not limited to) the following items: (1) Compensation for services, including fees, commissions, and similar items...
Page 311 - That (A) such payments are held in trust for the purpose of paying, either from principal or income or both, for the benefit of employees, their families and dependents...
Page 276 - Scholarships and fellowship grants — (a) General rule. In the case of an individual, gross income does not include — (1) Any amount received — (A) As a scholarship at an educational institution...
Page 114 - In the case of a manufacturing, merchandising, or mining business, "gross income" means the total sales, less the cost of goods sold, plus any income from Investments and from incidental or outside operations or sources.
Page 262 - In such case, the amount of any income of such taxpayer attributable to any unamortlzed premium (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be included in gross income, and the amount of the deduction attributable to any unamortized discount (computed as of the first day of the taxable year in which such discharge occurred) with respect to such indebtedness shall not be allowed as a deduction.
Page 558 - Any amount otherwise allowable as a deduction which is allocable to one or more classes of income other than interest (whether or not any amount of income of that class or classes is received or accrued) wholly exempt from the taxes imposed by this chapter...
Page 131 - If, by the terms of the decree, instrument, or agreement, the principal sum referred to in paragraph (1) is to be paid or may be paid over a period ending more than 10 years from the date of such decree, Instrument, or agreement, then (notwithstanding paragraph (1)) the installment payments shall be treated as periodic payments for purposes of subsection (a), but (in the case of any one taxable year of the wife) only to the extent of 10 percent of the principal sum. For purposes of the preceding...
Page 297 - If his central visual acuity does not exceed 20/200 In the better eye with correcting lenses, or If his visual acuity Is greater than 20/200 but Is accompanied by a limitation In the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.