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, 1981U.S. Government Printing Office, 1981 - 14 pages |
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Page 4
... development bonds . 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.
... development bonds . 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.
Page 12
... paid on industrial development bonds ( sec . 103 ( b ) ( 6 ) ) . This exception applies to issues of $ 1 million or less if the proceeds are used for the acquisition , construction , or improvement of land or depreciable property . At ...
... paid on industrial development bonds ( sec . 103 ( b ) ( 6 ) ) . This exception applies to issues of $ 1 million or less if the proceeds are used for the acquisition , construction , or improvement of land or depreciable property . At ...
Page 13
... paid or incurred . For example , research expenditures to develop a new con- sumer product must be capitalized , because such expenditures relate to an asset which will have a useful life exceeding one year . Such capital costs usually ...
... paid or incurred . For example , research expenditures to develop a new con- sumer product must be capitalized , because such expenditures relate to an asset which will have a useful life exceeding one year . Such capital costs usually ...
Page 14
... issue industrial development bonds . S. 1472 would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to obligations issued after that date . Purdue University Libraries 3 2754 078 076 746.
... issue industrial development bonds . S. 1472 would apply to research or experimental expenditures paid or incurred after March 11 , 1981 , with respect to obligations issued after that date . Purdue University Libraries 3 2754 078 076 746.
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Common terms and phrases
$10 million limitation 578 would allow 80-5 and Revenue account for purposes accounting for inventories allow taxpayers apply to taxable beginning after December capital ex change to LIFO clearly reflect income conformity requirement cost or market December 25 December 31 deduct currently Economic Recovery Tax Effective date elects to deduct ending inventory excess inventory exempt small issue FIFO industrial development bonds Interest Exemption Internal Revenue Service inven inventory accounting inventory items inventory writedowns issue industrial development lower of cost March 11 market value market writedowns method of accounting method of inventory net realizable value obligations issued Proc provisions qualified small businesses Recovery Tax Act research and experimental research expenditures research expenses research or experimental Revenue Procedure 80-5 Revenue Ruling 80-60 small issue industrial taxable years beginning taxable years ending taxpayer elects taxpayers using LIFO Thor Power decision tory writedowns trade or business Treasury regulations U.S. Supreme Court value will result