Legislative History of H.R. 8363: 88th Congress, the Revenue Act of 1964, Public Law 88-272... |
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Page 1413
... treated as if it were an interest payment . 16. Personal holding companies . The tax treatment of personal holding companies is made considerably more restrictive . For example , the percentage of passive income which may result in a ...
... treated as if it were an interest payment . 16. Personal holding companies . The tax treatment of personal holding companies is made considerably more restrictive . For example , the percentage of passive income which may result in a ...
Page 1414
... treated by the bill as giving rise to ordinary income . However , in the case of property held more than 20 months the amount treated as ordinary income will be reduced by 1 percent for each month of holding over 20 , with the result ...
... treated by the bill as giving rise to ordinary income . However , in the case of property held more than 20 months the amount treated as ordinary income will be reduced by 1 percent for each month of holding over 20 , with the result ...
Page 1435
... treated as a personal holding company if 60 percent of its income is from personal holding company sources ( now 80 percent ) . The basic change is ex- plained in No. 1 below . 3. The base for the 60 - percent test is no longer to ...
... treated as a personal holding company if 60 percent of its income is from personal holding company sources ( now 80 percent ) . The basic change is ex- plained in No. 1 below . 3. The base for the 60 - percent test is no longer to ...
Page 1436
... treated the same as if he still held stock in the foreign personal holding company ; that is , the new basis for it will be the old basis increased only by the estate tax atttributable to the appreciation in value of this property . 17 ...
... treated the same as if he still held stock in the foreign personal holding company ; that is , the new basis for it will be the old basis increased only by the estate tax atttributable to the appreciation in value of this property . 17 ...
Page 1447
... treated as satisfied . " ( c ) EFFECTIVE DATE OF WITHHOLDING.- Notwithstanding section 302 ( d ) , the amend- ments made by section 302 ( and the provi- sions of the Internal Revenue Code of 1954 amended by such section ) shall not ...
... treated as satisfied . " ( c ) EFFECTIVE DATE OF WITHHOLDING.- Notwithstanding section 302 ( d ) , the amend- ments made by section 302 ( and the provi- sions of the Internal Revenue Code of 1954 amended by such section ) shall not ...
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Other editions - View all
Common terms and phrases
adjusted gross income amended by striking amount apply averaging base period basis beginning after December billion bracket BRUCE ALGER budget capital gain capital loss Chairman class B capital committee computed Congress corporation cost debt December 31 deficit depreciation dividend duction economy effect election employee employment exceed excess excise expenditures fair market value fiscal gentleman Government group-term life insurance holding company income House bill included income tax increase individual inserting in lieu interest Internal Revenue Code investment credit less married couples Members ment minimum standard deduction months motion to recommit option price ordinary income paid paragraph payments personal holding company premium present law President purchase purposes relating Republican respect restricted stock Revenue rule sale or exchange Senator subparagraph subsection surtax exemption tax bill tax cut tax liability tax rates tax reduction taxable income taxable years beginning taxpayer term tion treated vote
Popular passages
Page 2456 - ... through the ownership, directly or Indirectly, of 50 percent or more of the total combined voting power of all classes of stock entitled to vote or 50 percent or more of the total value of shares of all classes of stock of the corporation.
Page 1417 - House with such amendments as may have been adopted, and the previous question shall be considered as ordered on the bill and amendments thereto to final passage without intervening motion except one motion to recommit.
Page 1737 - ... it has been established to the satisfaction of the Secretary or his delegate that such exchange is not in pursuance of a plan having as one of its principal purposes the avoidance of Federal income taxes.
Page 1939 - If the taxpayer makes an election under this paragraph with respect to any section 614(b) aggregation, then the adjusted basis (as of the first day of the first taxable year beginning after December 31, 1963) of each property Included in such aggregation shall be...
Page 2233 - ... no income shall result at the time of the transfer of such share to the individual upon his exercise of the option with respect to such share ; (2) no deduction under section 162...
Page 2437 - Its revenue from regulated rates described in paragraph (1) (A) or (D) and its revenue derived from unregulated rates are derived from its operation of a single interconnected and coordinated system or from the operation of more than one such system, and...
Page 1931 - Income (as defined in section 543(a)) of such enterprise. (2) Income and deductions of owners. Items excluded from the gross Income of the enterprise under paragraph (1), and the expenses attributable thereto, shall be treated as the income and deductions of the proprietor or partners (in accordance with their distributive shares of partnership income) of such enterprise. (3) Distributions. If— (A) The amount excluded from gross income under paragraph (2) exceeds the expenses attributable thereto,...
Page 1604 - ... property" means each separate interest owned by the taxpayer in each mineral deposit in each separate tract or parcel of land.
Page 2437 - January 1, 1954, (ii) each lease is for a term of more than 20 years, and (iii) at least 80 percent or more of its gross income (computed without regard to dividends and capital gains and losses) for the taxable year is derived from such leases and from sources described in paragraph (1).
Page 1771 - For purposes of this section, control means the ownership of stock possessing at least 80 percent of the total combined voting power of all classes of stock entitled to vote or at least 80 percent of the total value of shares of all classes of stock of the corporation.