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 |
From inside the book
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Page 4
... research and experimentation expenditures are considered to be capital expenditures , such expenses are to be taken into account in determining whether the $ 10 million limitation is exceeded , whether or not the taxpayer elects to ...
... research and experimentation expenditures are considered to be capital expenditures , such expenses are to be taken into account in determining whether the $ 10 million limitation is exceeded , whether or not the taxpayer elects to ...
Page 13
... research expenditures As a general rule , business expenditures to develop or create an asset which has a useful ... experimental expenditures incurred in connection with the taxpayer's trade or business , even if such ex- penses are ...
... research expenditures As a general rule , business expenditures to develop or create an asset which has a useful ... experimental expenditures incurred in connection with the taxpayer's trade or business , even if such ex- penses are ...
Page 14
... research or experimental expenditures which the taxpayer elects to deduct currently under section 174 ( a ) would not be taken into account for purposes of the capital expenditure limita- tion on small issue industrial development bonds ...
... research or experimental expenditures which the taxpayer elects to deduct currently under section 174 ( a ) would not be taken into account for purposes of the capital expenditure limita- tion on small issue industrial development bonds ...
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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