Statistics of Income from Returns of Net Income

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U.S. Government Printing Office, 1955

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Page 186 - As used in this subsection, the term "security" means any bond, debenture, note, or certificate or other evidence of indebtedness, issued by any corporation (Including...
Page 124 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include 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...
Page 116 - Service performed by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 127 - ... nonbusiness debt becomes worthless within the taxable year, the loss resulting therefrom shall be considered a loss from the sale or exchange, during the taxable year, of a capital asset held for not more than 6 months. (2) Nonbusiness debt defined. For purposes of paragraph (1), the term "nonbusiness debt...
Page 176 - NET EARNINGS FROM SELF-EMPLOYMENT. — The term "net earnings from self-employment" means the gross income derived by an individual from any trade or business carried on by such individual, less the deductions allowed by...
Page 16 - ... resulting from such distribution shall be considered as a gain from the sale or exchange of a capital asset held for not more than 6 months.
Page 176 - In the case of any trade or business which is carried on by an individual or by a partnership and in which, if such trade or business were carried on exclusively by employees, the major portion of the services would constitute agricultural labor...
Page 135 - ... (c) Short-Term Obligations Issued on Discount Basis. — In the case of any obligation of the United States or any of its possessions, or of a State or Territory, or any political subdivision thereof, or of the District of Columbia, issued on or after March 1, 1941, on a discount basis and payable without interest at a fixed maturity date not exceeding one year from the date of issue...
Page 143 - Returns made on the basis of the calendar year shall be made on or before the 15th day of March following the close of the calendar year. Returns made on the basis of a fiscal year shall be made on or before the 15th day of the third month following the close of the fiscal year.
Page 82 - Georgia. 12. Idaho. 13. Illinois. 14. Indiana. 15. Iowa. 16. Kansas. 17. Kentucky. 18. Louisiana. 19. Maine. 20. Maryland. 21. Massachusetts. 22. Michigan. 23. Minnesota. 24. Mississippi. 25. Missouri. 26. Montana. 27. Nebraska. 28. Nevada. 29. New Hampshire.

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