Tax Treatment of U. S. Concerns with Puerto Rican AffiliatesExamines small business role in Puerto Rican economic development programs and use of Puerto Rican affiliates by U.S. concerns for tax purposes. Hearing was held in San Juan, Puerto Rico. |
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Common terms and phrases
activities agency agricultural Amended by Act approved areas assistance authority bonds Brassiere budget Bureau capital commercial Commonwealth of Puerto Corp corporations cost development program Director DURAND Economic Development Administration enterprises established expansion facilities factories Federal FERNÓS Festival Casals financing firms fiscal Fomento program FONTAINE funds Government Development Bank Governor grant growth HERNANDEZ incentives included income tax increase industrial tax exemption industrialization program interest Internal Revenue Service investment island affiliate June 30 KISICKI labor land legislature loans LOCKLIN mainland affiliate manufacturing ment million net income Operation Bootstrap operations paperboard percent plants Pridco problems profits promotion Puerto Rico Industrial Puerto Rico Planning Rican Rico Industrial Development Rico Planning Board Rico's San Juan Senator BARTLETT Small Business Administration SPIRA subsidiary Teodoro Moscoso tion tourist treasury United VÉLEZ wages YORDÁN
Popular passages
Page 332 - In any case of two or more organizations, trades, or businesses (whether or not incorporated, whether or not organized in the United States, and whether or not affiliated) owned or controlled directly or indirectly by the same interests...
Page 1 - It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect insofar as is possible the interests of small business concerns in order to preserve free competitive enterprise...
Page 193 - ... shall be deemed guilty of a misdemeanor, and upon conviction thereof shall pay a fine of not less than five hundred nor more than one thousand dollars or be imprisoned not more than six months, or both, at the discretion of the court...
Page 291 - Said trustees shall be appointed by the Governor by and with the advice and consent of the Senate, and shall hold office for a term of six years, and until their successors shall be appointed and qualified.
Page 294 - In so far as the provisions of this act are inconsistent with the provisions of any other law, the provisions of this act shall be controlling.
Page 293 - ... events of default and terms and conditions upon which any or all of its bonds or obligations shall become or may be declared due before maturity, and as to the terms and conditions upon which such declaration and its consequences may be waived.
Page 193 - ... by a fine of not less than twenty-five (25) dollars nor more than fifty (50) dollars...
Page 332 - Secretary or his delegate may distribute, apportion, or allocate gross income, deductions, credits, or allowances between or among such organizations, trades, or businesses, if he determines that such distribution, apportionment, or allocation is necessary in order to prevent evasion of taxes or clearly to reflect the income of any such organizations, trades, or businesses.
Page 289 - States in collecting debts from bankrupt, insolvent, or decedents' estates; to determine the character of and the necessity for its obligations and expenditures, and the manner in which they shall be incurred, allowed, and paid...
Page 294 - States, and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.