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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... provides a program which is acceptable for full credit toward a degree , or offers a program of training to prepare students for gainful employment in a recognized occupation ; and ( 4 ) is a public or other nonprofit institution .
... provides a program which is acceptable for full credit toward a degree , or offers a program of training to prepare students for gainful employment in a recognized occupation ; and ( 4 ) is a public or other nonprofit institution .
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Common terms and phrases
$5X basis accordance additional allowed amount appreciation i.e. augmented charitable deduction bill would provide biological sciences capacity Code sec college or university COMMITTEE computers to primary connected constructed contributions of computer corporation's basis corporations are allowed corporations during 1984 cost Court deduction for contributions defined in sec DESCRIPTION determined difference Distributional donated computer equipment donated property donee donor donor's basis education of students event example exceeds twice fair market value HEARING high school higher education increased inventory least LIBRARIES Limitation meaning meaning of sec newly manufactured computers NOVEMBER 11 offered one-half ordinary-income property organization physical or biological present law primary or secondary PRINT property been sold property's provide an augmented qualify receive Recovery Tax Act regular faculty regularly requirements retail satisfy SCHEDULED sciences include secondary schools sells special deduction rule special rule STANFORD Subcommittee Substantially taxpayer tion transferred twice the basis usual market
Popular passages
Page 12 - 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 12 - 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 12 - 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 12 - ... (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 12 - 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...
Bibliographic information
| Title | 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, 1983 |
| Author | United States. Congress. Joint Committee on Taxation |
| Contributor | United States. Congress. House. Committee on Ways and Means. Subcommittee on Select Revenue Measures |
| Edition | reprint |
| Publisher | U.S. Government Printing Office, 1983 |
| Length | 37 pages |
| Export Citation | BiBTeX EndNote RefMan |