Statistics of Income from Returns of Net IncomeU.S. Government Printing Office, 1955 |
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... tax laws . This report presents by various classifications , statistical data relative to income , deductions , exemptions , tax liability , tax withheld on wages , tax paid on declaration , tax overpayment , and other per- tinent facts ...
... tax laws . This report presents by various classifications , statistical data relative to income , deductions , exemptions , tax liability , tax withheld on wages , tax paid on declaration , tax overpayment , and other per- tinent facts ...
Page 5
... tax , paid for the first time on 1951 returns , is reported on 4,073,811 of these returns , 1,054,388 of which have no income tax liability . Nontaxable returns number 12,798,399 which is a decrease of 2,075,017 as compared with last ...
... tax , paid for the first time on 1951 returns , is reported on 4,073,811 of these returns , 1,054,388 of which have no income tax liability . Nontaxable returns number 12,798,399 which is a decrease of 2,075,017 as compared with last ...
Page 6
... tax credits are not reported , the tax being determined on the basis of ... paid after October 31 , 1951 , is increased to 20 percent of the excess of ... paid for both , plus the amount by which such expenses for the care of dependents ...
... tax credits are not reported , the tax being determined on the basis of ... paid after October 31 , 1951 , is increased to 20 percent of the excess of ... paid for both , plus the amount by which such expenses for the care of dependents ...
Page 8
... tax paid at source on interest from tax - free covenant bonds and to income tax paid to a foreign country or possession of the United States , allowed only to taxpayers who itemized deductions . The amount of these tax credits is not ...
... tax paid at source on interest from tax - free covenant bonds and to income tax paid to a foreign country or possession of the United States , allowed only to taxpayers who itemized deductions . The amount of these tax credits is not ...
Page 10
... tax , table 6 , has an additional type of tax on account of the self - employment tax . Table 7 , wherein data are ... paid tax under section 107 , included in salaries and wages , is only that portion allocated to the income year 1951 ...
... tax , table 6 , has an additional type of tax on account of the self - employment tax . Table 7 , wherein data are ... paid tax under section 107 , included in salaries and wages , is only that portion allocated to the income year 1951 ...
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Common terms and phrases
adjusted gross deficit adjusted gross income allowed alternative tax capital assets computed depreciation dividends estate or trust estate tax excess exclusions expenses Explanation of Classifications Forms W-2 gain from sales gain or loss gains and losses gift tax gross estate gross income classes husband and wife included Income tax liability income tax returns individual returns interest Internal Revenue Internal Revenue Code itemized deductions joint return long-form long-term capital gain loss from sales Marital deduction net estate nonresident alien normal tax number of exemptions Number of returns partnership payments percent prior Rents and royalties reported RETURNS FOR 1951 returns Number returns with adjusted sale or exchange sales of capital self-employment tax separate returns Sole proprietorships spouse standard deduction surtax net income tabulated tax and surtax tax credits tax rate tax returns tax withheld Taxable and nontaxable taxpayer Thousand Thousand dollars Thousand Thousand Thousand tion total gifts Total receipts trade or business
Popular passages
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.