Income Tax Law of the United States: Act of September 8, 1916, as Amended and Act of October 3, 1917 Including Summary of Provisions and Regulations Affecting Non-resident Alien Individuals, Partnerships, Fiduciaries and Corporations |
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Page 13
... bank not having a capital stock represented by shares ; 3. Fraternal beneficiary society , order , or association ... banks without capital stock organized and operated for mutual purposes and without profit ; 5. Cemetery company owned ...
... bank not having a capital stock represented by shares ; 3. Fraternal beneficiary society , order , or association ... banks without capital stock organized and operated for mutual purposes and without profit ; 5. Cemetery company owned ...
Page 15
... banks in the United States of money belonging to foreign governments is exempt from tax . INCOME EXEMPT The following income is exempt from tax and should not be reported : 1. Proceeds of life insurance policies paid to individual ...
... banks in the United States of money belonging to foreign governments is exempt from tax . INCOME EXEMPT The following income is exempt from tax and should not be reported : 1. Proceeds of life insurance policies paid to individual ...
Page 25
... bank deposits of non - resident alien individuals is subject to withholding of the normal tax at the source . CORPORATIONS Withholding in the case of a foreign corporation not engaged in business or trade within the United States and ...
... bank deposits of non - resident alien individuals is subject to withholding of the normal tax at the source . CORPORATIONS Withholding in the case of a foreign corporation not engaged in business or trade within the United States and ...
Page 26
... bank deposits in the United States owned by foreign corporations is not subject to withholding of the tax at the source . PARTNERSHIPS AND FIRMS Non - resident alien partnerships and firms are not subject to withholding of tax at the ...
... bank deposits in the United States owned by foreign corporations is not subject to withholding of the tax at the source . PARTNERSHIPS AND FIRMS Non - resident alien partnerships and firms are not subject to withholding of tax at the ...
Page 29
... bank in share lots , endorsed in blank by the bank , in which form they are sold to investors , such investors claiming their dividends by presenting the certificates to the bank , the bank is held to have the status of a [ 29 ]
... bank in share lots , endorsed in blank by the bank , in which form they are sold to investors , such investors claiming their dividends by presenting the certificates to the bank , the bank is held to have the status of a [ 29 ]
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Common terms and phrases
Act of September actual owner additional tax amount of tax ascer ascertained bank business or trade capital stock centum per annum certificates citizen or resident collected collector of internal collector or deputy Commissioner of Internal company or association computed deduction dends deputy collector distraint district domestic corporations duction excess profits tax exempt expenses fiduciary file returns fiscal foreign corporation hundred and seventeen hundred and sixteen hundred and thirteen income derived income exceeds income received Income Tax Law indebtedness insurance company interest on bonds Internal Revenue joint-stock company liable ment mutual net income exceeds nineteen hundred non-resident alien individuals normal tax office or place organized partnership payable payment person Philippine Islands place of business Porto Rico prescribed Provided further purpose reasonable allowance record owner Secretary subject to tax subject to withholding surtax tax imposed tax paid taxable thereof tion total net income Treasury trust United
Popular passages
Page 41 - 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...
Page 41 - Income received by estates of deceased persons during the period of administration or settlement of the estate; and (4) Income which, in the discretion of the fiduciary, may be either distributed to the beneficiaries or accumulated.
Page 63 - ... life insurance companies shall not include as income in any year such portion of any actual premium received from any individual policyholder as shall have been paid back or credited to such individual policyholder, or treated as an abatement of premium of such individual policyholder, within such year.
Page 43 - The fact. that any corporation is a mere holding company, or that the gains and profits are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax...
Page 62 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate; (3) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made...
Page 51 - ... under such regulations as the Secretary of the Treasury may prescribe, shall be a sufficient compliance with the requirements of this paragraph...
Page 11 - In a strict and legal seN.se that is properly the domicil of a person where he has his true, fixed, permanent home and principal establishment, and to which, whenever he is absent, he has the intention of returning (animus rercrtcndi) .u [Italics supplied.] Mr.
Page 82 - ... interest, rent, salaries, wages, premiums, annuities, compensation, remuneration, emoluments, or other fixed or determinable gains, profits, and income...
Page 13 - Fraternal beneficiary societies, orders, or associations, (A) operating under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system...
Page 78 - Every collector to whom any .payment of any income tax is made shall upon request give to the person making such payment a full written or printed receipt, stating the amount paid and the particular account for which such payment was made...