Description of H.R. 701 ("Computer Contribution Act of 1983"): scheduled for a field hearing (San Francisco, Calif.) before the Subcommittee on Select Revenue Measures of the Committee on Ways and Means on November 11, 1983U.S. Government Printing Office, 1983 - 37 pages |
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Page 17
... sec . 170 ( e ) ) . Thus , a donor of appreciated ordinary - income property ( property the sale of which would not give rise to long - term capital gain ) gen- erally may deduct ... meaning of sec . 174 ) DESCRIPTION OF THE BILL Present Law.
... sec . 170 ( e ) ) . Thus , a donor of appreciated ordinary - income property ( property the sale of which would not give rise to long - term capital gain ) gen- erally may deduct ... meaning of sec . 174 ) DESCRIPTION OF THE BILL Present Law.
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... meaning of sec . 174 ) , or for research training , in the United States in the physical or biological sciences ; 3 ( 5 ) The property is not transferred by the donee in exchange for money , other property , or services ; and ( 6 ) The ...
... meaning of sec . 174 ) , or for research training , in the United States in the physical or biological sciences ; 3 ( 5 ) The property is not transferred by the donee in exchange for money , other property , or services ; and ( 6 ) The ...
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... meaning of sec . 170 ( b ) ( 1 ) ( A ) ( ii ) , or to a primary or secondary school operated as an activity of a tax- exempt section 501 ( c ) ( 3 ) organization ( such as a church ) , provided that such school normally maintains a ...
... meaning of sec . 170 ( b ) ( 1 ) ( A ) ( ii ) , or to a primary or secondary school operated as an activity of a tax- exempt section 501 ( c ) ( 3 ) organization ( such as a church ) , provided that such school normally maintains a ...
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Common terms and phrases
$5X basis activities are regularly allowed an augment appreciation i.e. augmented charitable deduction augmented deduction rule bill would provide biological sciences sec certain newly manufactured charitable deduction otherwise Code sec college or university COMPUTER CONTRIBUTION ACT computers to primary contributions of computer corporation's basis corporations are allowed corporations during 1984 customarily sells deduction be allowed deduction for donations deduction otherwise allow deduction rule provided defined in sec donated computer equipment donated property donations of newly donee in exchange donor corporation donor's basis education of students ending after 1983 equipment or apparatus fair market value fective for taxable newly manufactured computers NOVEMBER 11 one-half ordinary-income property physical or biological present law primary or secondary Prior Congressional Action property been sold provide an augmented random access memory regularly enrolled body secondary schools SELECT REVENUE MEASURES sewing machines special deduction rule special rule allowed special rule enacted taxpayer twice the basis usual market
Popular passages
Page 17 - institution of higher education" means an educational institution in any State which— (1) admits as regular students only individuals having a certificate of graduation from a high school, or the recognized equivalent of such a certificate; (2) is legally authorized within such State to provide a program of education beyond high school...
Page 17 - An educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on...
Page 17 - school bus' means any automobile bus substantially all the use of which is in transporting students and employees of schools. For purposes of the preceding sentence, the term 'school' means an educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are carried on.
Page 15 - ... (ii) the property is not transferred by the donee in exchange for money, other property, or services; (iii) the taxpayer receives from the donee a written statement representing that its use and disposition of the property will be in accordance with the provisions of...
Page 17 - Provides an educational program for which it awards a bachelor's or higher degree, or provides a program which is acceptable for full credit toward such a degree, a program of post-graduate or post-doctoral studies, or a program of training to prepare students for gainful employment in a recognized occupation...
Page 11 - Furthermore, no deduction is to be allowed for any part of the unrealized appreciation which would have been ordinary income (if the property had been sold) because of the application of the recapture provisions relating to depreciation, certain mining exploration expenditures, certain excess farm...
Page 11 - ... school of new computers or used computers that are not more than two years old at the time of donation. The amount of the credit may not exceed 50% of the fair market value of the computer at the time of the donation. The maximum credit that a firm may receive is $75,000 annually. The total amount of all credits to all firms is limited to $1 million in any one fiscal year (Sec. 10-228b, GS). The business firm must submit Form CT-CDC, Computer Donation Credit Application, to DRS along with a copy...