The Internal Revenue Code of 1954: Hearings Before the Committee on Finance, United States Senate, Eighty-third Congress, Second Session, on H.R. 8300 ...
U.S. Government Printing Office, 1954 - Taxation - 2443 pages
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additional allowed amendment American amount appear apply assets Association Bank basis believe benefits bill bonds capital CHAIRMAN committee Congress consideration considered continue contributions corporation cost Court deduction definition depreciation determined distribution dividends effect eliminated employees establishment exchange existing expenses fact filed Finance foreign gain Government held House income tax increase individual industry intended interest Internal Revenue Code inventor investment issued less limitation liquidation loss manufacturing Means ment method operating paid payments percent period permit practice preferred present problem production profits proposed provisions purchase real estate reason received recommended record relating represent respect result retail returns rule securities sell Senator shares short situation statement stockholders substantial suggested taxable taxpayer tion transaction treatment trust United
Page 1222 - States, organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 1675 - The economic philosophy behind the clause empowering Congress to grant patents and copyrights is the conviction that encouragement of individual effort by personal gain is the best way to advance public welfare through the talents of authors and inventors in 'science and useful arts.
Page 1214 - As used in this paragraph the term "gross income from the property" means the gross income from mining. The term "mining" as used herein shall be considered to include not merely the extraction of the ores or minerals from the ground but also the ordinary treatment processes normally applied by mine owners or operators in order to obtain the commercially marketable mineral product or products...
Page 1691 - 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 1618 - States, upon or with respect to the accumulated profits of such foreign corporation from which such dividends were paid, which the amount of...
Page 1248 - Indies, and which satisfies the following conditions: (1) if 95 percent or more of the gross income of such domestic corporation for the 3-year period immediately preceding the close of the taxable year (or for such part of such period...
Page 1223 - The exemption from taxation of money or property devoted to charitable and other purposes is based upon the theory that the Government is compensated for the loss of revenue by its relief from financial burden which would otherwise have to be met by appropriations from public funds, and by the benefits resulting from the promotion of the general welfare.
Page 1228 - In the case of a corporation, there shall be allowed as a deduction an amount equal to the following percentages of the amount received as dividends from a domestic corporation which is subject to taxation under this chapter...
Page 1638 - ... if a petition for redetermination of a deficiency in such estate tax has been filed with the Tax Court within the time prescribed in...
Page 1701 - Reversionary interests — (a) General rule. The grantor shall be treated as the owner of any portion of a trust in which he has a reversionary interest in either the corpus or the income therefrom if, as of the inception of that portion of the trust, the interest will or may reasonably be expected to take effect in possession or enjoyment within...