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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S. 1276 S. 1276 would allow a qualified small business to write off one - third of inventory held for more than 12 months , 50 percent of inventory held for more than 24 months , and 100 percent of inventory held for more than 36 months ...
S. 1276 S. 1276 would allow a qualified small business to write off one - third of inventory held for more than 12 months , 50 percent of inventory held for more than 24 months , and 100 percent of inventory held for more than 36 months ...
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A qualified small business would be defined as a domestic trade or business with equity capital of $ 25 million or less . Special rules would be provided to treat commonly controlled trades or businesses as a single trade or business ...
A qualified small business would be defined as a domestic trade or business with equity capital of $ 25 million or less . Special rules would be provided to treat commonly controlled trades or businesses as a single trade or business ...
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S. 1276 The amendments made by S. 1276 relating to inventory writedowns for qualified small businesses would apply to taxable years beginning after December 31 , 1980. The provisions relating to Rev. Rul . 80-60 and Rev. Proc .
S. 1276 The amendments made by S. 1276 relating to inventory writedowns for qualified small businesses would apply to taxable years beginning after December 31 , 1980. The provisions relating to Rev. Rul . 80-60 and Rev. Proc .
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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 |