Revenue Act, 1936: Hearings Before the Committee on Ways and Means, House of Representatives, Seventy-Fourth Congress, Second Session. March 30, 31, and April 1, 2, 3, 4, 6, 7, 1936. Indexed |
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Common terms and phrases
additional adjusted net income Administration Agricultural Adjustment Act ALVORD amount banks BEENHOUWER BELL BELZ bonds Budget capital cash CASSAT CHAIRMAN CLAUSEN committee Congress CONLEY COOPER corporate income corporate tax course CROWTHER debt deduction DINGELL distributed dividends dollars earnings and profits estimated excise tax exempt Federal FERNALD figures finance fiscal foreign corporations FULLER funds gentleman going Government HELVERING HILL hogs HUBSCHMAN income tax increase individual industry interest investment KNUTSON LAMNECK loans loss McCORMACK ment million NEWHALL nonresident alien OLIPHANT operating OSGOOD packers payment percent poration present law processing tax production proposed provision question railroads recommendation Reconstruction Finance Corporation REED refund reserves Revenue Act SARGENT SCHLUTER securities shareholders sinking fund statement stockholders subcommittee surplus surtax TALIAFERRO tax bill taxable taxation taxpayer tion TREADWAY Treasury undistributed United VINSON WERNKE WESTON windfall tax WOODRUFF
Popular passages
Page 425 - International law is part of our law, and must be ascertained and administered by the courts of justice of appropriate jurisdiction, as often as questions of right depending upon it are duly presented for their determination.
Page 425 - For this purpose, where there is no treaty, and no controlling executive or legislative act or judicial decision, resort must be had to the customs and usages of civilized nations; and, as evidence of these, to the works of jurists and commentators, who by years of labor, research, and experience, have made themselves peculiarly well acquainted with the subjects of which they treat.
Page 733 - The Department of State cannot, of course, require American bankers to consult it. It will not pass upon the merits of foreign loans as business propositions, nor assume any responsibility whatever in connection with loan transactions.
Page 416 - Every such person is hereby made liable for such tax and Is hereby Indemnified against the claims and demands of any person for the amount of any payments made In accordance with the provisions of this section.
Page 733 - The flotation of foreign bond issues in the American market is assuming an increasing importance and on account of the bearing of such operations upon the proper conduct of affairs it is hoped that American concerns that contemplate making foreign loans will inform the Department of State in due time of the essential facts and of subsequent developments of importance.
Page 863 - It is true that Congress cannot convert into a corporation an organization which by the law of its State is deemed to be a partnership. But nothing in the Constitution precludes Congress from taxing as a corporation an association which, although unincorporated, transacts its business as if it were incorporated.
Page 289 - undistributed adjusted net income " means the adjusted net income minus the sum of: (A) 20 per centum of the excess of the adjusted net income over the amount of dividends received from personal holding companies which are allowable as a...
Page 378 - permanent establishment" Includes branches, mines and oil wells, plantations, factories, workshops, warehouses, offices, agencies, installations, and other fixed places of business of an enterprise but does not include the casual or temporary use of merely storage facilities. A permanent establishment of a subsidiary corporation shall not be deemed to be a permanent establishment of the parent corporation.
Page 3 - The accumulation of surplus in corporations controlled by taxpayers with large incomes is encouraged by the present freedom of undistributed corporate income from surtaxes. Since stockholders are the beneficial owners of both distributed and undistributed corporate income, the aim, as a matter of fundamental equity, should be to seek equality of tax burden on all corporate income whether distributed or withheld from the beneficial owners.
Page 304 - Stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...