Income Tax Law and Accounting, 1918: Being a Practical Application of the Provisions of the Federal Income Tax Act of September 8, 1916, as Amended; the War Income Tax and the War Excess Profits Tax Laws of October 3, 1917; and Containing the Corporation Capital Stock Tax Law and Rulings Thereon; Federal Estate Tax, Excise and Miscellaneous War Taxes; and the New York State Income Tax Statute Applicable to Manufacturing and Mercantile Corporations |
From inside the book
Results 1-5 of 92
Page x
... Actual Owner of Stock ..... .19-48 VII . Farms and Farmers : " Farms and Farmers , " Defined - Income from Farms - Prepaid Farm Expenses - Shares - Expenses- Losses Live Stock - Farm Machinery - Depreciation Books of Account - Farm ...
... Actual Owner of Stock ..... .19-48 VII . Farms and Farmers : " Farms and Farmers , " Defined - Income from Farms - Prepaid Farm Expenses - Shares - Expenses- Losses Live Stock - Farm Machinery - Depreciation Books of Account - Farm ...
Page 13
... actual owner- Power of ship , he must make return of such income . A prop- Attorney . erty owner cannot conceal his income by assigning it to a repre- sentative for the purpose of escaping the tax . Where there is a transfer of vested ...
... actual owner- Power of ship , he must make return of such income . A prop- Attorney . erty owner cannot conceal his income by assigning it to a repre- sentative for the purpose of escaping the tax . Where there is a transfer of vested ...
Page 27
... actual value of the stock of the old company is admittedly worth at least double the par value ; no taxable income accrues to the stockholders until they sell their holdings in the new company . " This office is in receipt of your ...
... actual value of the stock of the old company is admittedly worth at least double the par value ; no taxable income accrues to the stockholders until they sell their holdings in the new company . " This office is in receipt of your ...
Page 36
... actual price paid for it , together with the expense incident to the procure- ment of the property in the first ... actual cost of the properties . Where income is computed on the basis of actual receipts and disbursements , a promissory ...
... actual price paid for it , together with the expense incident to the procure- ment of the property in the first ... actual cost of the properties . Where income is computed on the basis of actual receipts and disbursements , a promissory ...
Page 42
... actual necessary expenses incurred on a journey shall be returned as income . Mileage , as such , is not gain , profit , or income to the officer , as he is required to pay his actual expenses while traveling under mileage orders . The ...
... actual necessary expenses incurred on a journey shall be returned as income . Mileage , as such , is not gain , profit , or income to the officer , as he is required to pay his actual expenses while traveling under mileage orders . The ...
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Common terms and phrases
Act of September actual cash value amended apply ascertained assessed assets basis bonds book value books of account calendar capital stock cent centum charged collected Collectors of Internal Commissioner of Internal company or association computed corporation or partnership cost credited deducted from gross depreciation district dividends domestic partnership earnings Excess Profits Tax excise tax exempt expenses fiscal foreign corporation gross income included Income Tax Law income tax return indebtedness individual insurance company intangible property interest paid Internal Revenue inventory invested capital issued Item joint-stock company liability loss manufacturer ment nineteen hundred nonresident alien normal tax organized pany par value Partner payable payment person poration premium prescribed prewar period prior to March purchase returned as income ruling salaries sold stockholder subdivision surplus tangible property tax imposed tax purposes taxable thereof tion total net income trade or business Treasury United
Popular passages
Page 241 - ... in any manner whatever not provided by law any income return, or any part thereof or source of income, profits, losses, or expenditures appearing in any income return; and any offense against the foregoing provision shall be a misdemeanor and be punished by a fine not exceeding $1,000 or by imprisonment not exceeding one year, or both...
Page 236 - 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 220 - 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; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income...
Page 298 - Income may be defined as the gain derived from capital, from labor, or from both combined," provided it be understood to include profit gained through a sale or conversion of capital assets, to which it was applied in the Doyle Case (pp.
Page 220 - 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 314 - Such net income shall be ascertained by deducting from the gross amount of the income of such corporation, joint stock company or association, or insurance company, received within the year from all sources, (first) all the ordinary and necessary expenses actually paid within the year out of income in the maintenance and operation of its business and properties...
Page 102 - ... a reasonable allowance for actual reduction in flow and production to be ascertained not by the flush flow, but by the settled production or regular flow ; (b) in the case of mines a reasonable allowance for depletion thereof not to exceed the market value in the mine of the product thereof which has been mined and sold during the year for which the return and computation are made...
Page 239 - June in any year, and for ten days after notice and demand thereof by the collector, there shall be added the sum of five per centum on the amount of tax unpaid and interest at the rate of one per centum per month upon said tax from the time the same becomes due.
Page 221 - ... but the fact that the gains and profits are in any case permitted to accumulate and become surplus shall not be construed as evidence of a purpose to escape the said tax in such case unless the Secretary of the Treasury shall certify that in his opinion such accumulation is unreasonable for the purposes of the business.
Page 255 - ... paid in or earned surplus and undivided profits used or employed in the business...