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 |
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Page 4
... under present law for " small issues , ” where the aggregate amount of outstanding exempt small issues plus capital expenditures ( financed otherwise than out of small issue bond proceeds ) does not exceed $ 10 million ( Code sec .
... under present law for " small issues , ” where the aggregate amount of outstanding exempt small issues plus capital expenditures ( financed otherwise than out of small issue bond proceeds ) does not exceed $ 10 million ( Code sec .
Page 5
The resulting amount is the amount of goods that were disposed of during the year and are presumed sold . The dollar value of the ending inventory is determined by actually counting the goods on hand at the end of the year and then ...
The resulting amount is the amount of goods that were disposed of during the year and are presumed sold . The dollar value of the ending inventory is determined by actually counting the goods on hand at the end of the year and then ...
Page 8
The amount of the excess inventory would be based on the taxpayer's five - year experience with each group of articles contained in the inventory . Thus , the taxpayer would look to each group of articles contained in its inventory and ...
The amount of the excess inventory would be based on the taxpayer's five - year experience with each group of articles contained in the inventory . Thus , the taxpayer would look to each group of articles contained in its inventory and ...
Page 10
The resulting amount is the amount of goods that were disposed of during the year and are presumed sold . The dollar value of the ending inventory is determined by actually counting the goods on hand at the end of the year and then ...
The resulting amount is the amount of goods that were disposed of during the year and are presumed sold . The dollar value of the ending inventory is determined by actually counting the goods on hand at the end of the year and then ...
Page 11
First , final Treasury regulations have been issued that allow taxpayers using LIFO to disclose in their financial statements the amount of earnings they would have had on a non - LIFO basis . However , although the regulations allow ...
First , final Treasury regulations have been issued that allow taxpayers using LIFO to disclose in their financial statements the amount of earnings they would have had on a non - LIFO basis . However , although the regulations allow ...
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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 |