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
... Research Expenses From Capital Expenditure Limi- tation on Interest Exemption for Small Issue Industrial Devel ... expenditures ( financed otherwise than out of small issue bond proceeds ) does not exceed $ 10 million ( Code sec . 103 ( b ) ( ...
... Research Expenses From Capital Expenditure Limi- tation on Interest Exemption for Small Issue Industrial Devel ... expenditures ( financed otherwise than out of small issue bond proceeds ) does not exceed $ 10 million ( Code sec . 103 ( b ) ( ...
Page 12
... Research Expenses from Capital Expenditure Lim- itation on Interest ... expenditures ( financed otherwise than out of the proceeds of an exempt ... expenditures for all facilities used by the same or related principal users which ...
... Research Expenses from Capital Expenditure Lim- itation on Interest ... expenditures ( financed otherwise than out of the proceeds of an exempt ... expenditures for all facilities used by the same or related principal users which ...
Page 13
... research expenditures As a general rule , business expenditures to develop or create an asset which has a useful life that extends substantially beyond the taxable year must be capitalized and cannot be deducted in the year paid or ...
... research expenditures As a general rule , business expenditures to develop or create an asset which has a useful life that extends substantially beyond the taxable year must be capitalized and cannot be deducted in the year paid or ...
Page 14
... expenditure limita- tion on small 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 ...
... expenditure limita- tion on small 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 ...
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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