Description of Tax Bills (S. 578, S. 768, S. 1276, and S. 1472): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981 |
From inside the book
Results 1-5 of 6
Page
Sections 2 and 3 of S. 578 — LIFO inventories .. 2. S. 768 ( Senator Moynihan ) , and S. 1472 ( Senator Denton ) : Exclusion of research expenses from capital expenditure limitation on interest exemption for small issue industrial ...
Sections 2 and 3 of S. 578 — LIFO inventories .. 2. S. 768 ( Senator Moynihan ) , and S. 1472 ( Senator Denton ) : Exclusion of research expenses from capital expenditure limitation on interest exemption for small issue industrial ...
Page 1
There are four bills scheduled for the hearing : S. 578 ( relating to inventory writedowns and LIFO inventories ) ; Š . 768 and Š . 1472 ( relating to exclusion of research expenses from capital expenditure limitation on interest ...
There are four bills scheduled for the hearing : S. 578 ( relating to inventory writedowns and LIFO inventories ) ; Š . 768 and Š . 1472 ( relating to exclusion of research expenses from capital expenditure limitation on interest ...
Page 3
Sections 2 and 3 of S. 578 — LIFO Inventories Under present law , taxpayers that elect to use the LIFO method of accounting for inventories must use LIFO for purposes of their financial statements ( sec . 472 ) .
Sections 2 and 3 of S. 578 — LIFO Inventories Under present law , taxpayers that elect to use the LIFO method of accounting for inventories must use LIFO for purposes of their financial statements ( sec . 472 ) .
Page 4
Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method of inventory accounting used for purposes of financial statements . Section 3 of the bill would extend the three - year recapture ...
Section 2 of S. 578 would allow taxpayers to use LIFO accounting for tax purposes regardless of the method of inventory accounting used for purposes of financial statements . Section 3 of the bill would extend the three - year recapture ...
Page 10
Sections 2 and 3 of S. 578 — LIFO Inventories Present law Background Gross income from the sale of goods equals gross sales receipts less the cost of goods sold . The computation of cost of goods sold is made by taking the beginning ...
Sections 2 and 3 of S. 578 — LIFO Inventories Present law Background Gross income from the sale of goods equals gross sales receipts less the cost of goods sold . The computation of cost of goods sold is made by taking the beginning ...
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
Common terms and phrases
$10 million limitation allow taxpayers amortize amount apply to taxable average beginning after December bill capital expenditures Code section conformity conformity requirement continue cost or market December 31 determined disposed disposition Effective date elects to deduct ending inventory exceeding exception excess inventory expenses experimental expenditures future gross income held higher income tax industrial development bonds interest Internal Revenue Service inven inventory accounting less LIFO lower of cost market value market writedowns method of accounting method of inventory months offered paid period Present law Proc provisions qualified small businesses realizable recapture regulations relating replacement requirement research and experimental research expenditures research expenses research or experimental respect Ruling Senators small issue industrial sold statement taken into account tax purposes taxable income taxable years beginning taxable years ending taxpayer elects Thor Power decision tion trade or business write written
Bibliographic information
| Title | Description of Tax Bills (S. 578, S. 768, S. 1276, and S. 1472): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981 |
| Contributors | United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management, United States. Congress. Joint Committee on Taxation |
| Publisher | U.S. Government Printing Office, 1981 |
| Original from | Purdue University |
| Digitized | 27 Aug 2012 |
| Length | 14 pages |
| Export Citation | BiBTeX EndNote RefMan |