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
The bill would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to obligations issued after that date . II . DESCRIPTION OF BILLS 1. S. 578 – Senators 4.
The bill would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to obligations issued after that date . II . DESCRIPTION OF BILLS 1. S. 578 – Senators 4.
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... from payments with respect to , property or borrowed money used in a trade or business ( see . 103 ( b ) ( 2 ) ) . Present law provides an exception for certain " small issues ” to the general rule of taxability of interest paid on ...
... from payments with respect to , property or borrowed money used in a trade or business ( see . 103 ( b ) ( 2 ) ) . Present law provides an exception for certain " small issues ” to the general rule of taxability of interest paid on ...
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... be deducted in the year paid or incurred . For example , research expenditures to develop a new consumer product must be capitalized , because such expenditures relate to an asset which will have a useful life exceeding one year .
... be deducted in the year paid or incurred . For example , research expenditures to develop a new consumer product must be capitalized , because such expenditures relate to an asset which will have a useful life exceeding one year .
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S. 1472 would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to obligations issued after that date . O . Purdue University Libraries 3 2754 078 076 746.
S. 1472 would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to obligations issued after that date . O . Purdue University Libraries 3 2754 078 076 746.
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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 |