...relating to whether an election of a small business corporation has been terminated because it derived more than 80 percent of its gross receipts from sources outside the United States, gross receipts from sources within Guam will be treated as gross receipts from sources outside the...

...States. Such termination shall be effective for the taxable year of the corporation In which It derives more than 80 percent of Its gross receipts from sources outside the United States, and for all succeeding taxable years of the corporation. (5) Passive investment income. (A) Except...

...relating to whether an election of a small business corporation has been terminated because it derived more than 80 percent of its gross receipts from sources outside the United States, gross receipts from sources within Guam will be treated as gross receipts from sources outside the...

...not be a member of an affiliated group eligible to file a consolidated return. It could not receive more than 80 percent of its gross receipts from sources outside the United States. It also could not receive more than 20 percent of its gross receipts from passive investments (interest,...

...States. Such termination shall be effective for the taxable year of the corporation in which it derives more than 80 percent of its gross receipts from sources outside the United States, and for all succeeding taxable years of the corporation. "(5) PERSONAL HOLDING COMPANY INCOME. —...

...States. Such termination shall be effective for the taxable year of the corporation in which it derives epartment duly authorized for that purpose, and the State, Territorial, District, and for all succeeding taxable years of the corporation. (5) PERSONAL HOLDING COMPANY INCOME. — An...

...dividends, interest, annuities, and gains from sale or exchange of stocks and securities, nor may it receive more than 80 percent of its gross receipts from sources outside the United States. 3. Deductions for business expenses In general, all ordinary and necessary expenses incurred in carrying...

...dividends, interest, annuities, and gains from sale or exchange of stocks and securities, nor may it receive more than 80 percent of its gross receipts from sources outside the United States. 3. Deductions for business expenses In general, all ordinary and necessary expenses incurred in carrying...

...dividends, interest, annuities, and gains from sale or exchange of stocks and securities, nor may it receive more than 80 percent of its gross receipts from sources outside the United States. 5. Corporations assessed additional taxes Special provisions have been enacted in an effort to prevent...

...Revenue Code by the Technical Amendments Act of 1958. In order to qualify for this option, a firm has to be a domestic corporation with no more than 10 shareholders,...corporations Is computed In the same manner as for other corporation*, it Is taxed directly to each shareholder as ordinary Income. Net longterm capital gain,...