Description of Tax Bills: S. 353 (educational Savings Bonds); S. 442 (value Added Tax); S. 659, S. 838, S. 849 (estate Freezes); and S. 800 (moratorium on Certain State Tax Laws) : Scheduled for a Hearing Before the Senate Committee on Finance on May 17, 1989U.S. Government Printing Office, 1989 - 35 pages |
From inside the book
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Page 4
... applies . For taxpayers filing a joint return , the phaseout range is for AGI between $ 60,000 and $ 90,000 . For single taxpayers and heads of households , the phaseout range is for AGI between $ 40,000 and $ 55,000.7 The phaseout rate ...
... applies . For taxpayers filing a joint return , the phaseout range is for AGI between $ 60,000 and $ 90,000 . For single taxpayers and heads of households , the phaseout range is for AGI between $ 40,000 and $ 55,000.7 The phaseout rate ...
Page 5
... apply to U.S. Series EE savings bonds issued after December 31 , 1989 . 8 For example , if taxpayer filing a joint return has a AGI of $ 75,000 , then the interest exclu- sion otherwise provided for by section 135 would be reduced by ...
... apply to U.S. Series EE savings bonds issued after December 31 , 1989 . 8 For example , if taxpayer filing a joint return has a AGI of $ 75,000 , then the interest exclu- sion otherwise provided for by section 135 would be reduced by ...
Page 8
... with respect to the business . The bill also would grant the Secretary of the Treasury broad au- thority to issue regulations with respect to the VAT . Effective date The bill would apply to transactions occurring after 8.
... with respect to the business . The bill also would grant the Secretary of the Treasury broad au- thority to issue regulations with respect to the VAT . Effective date The bill would apply to transactions occurring after 8.
Page 9
... apply to transactions occurring after December 31 , 1989 . B. Allocation of Revenues from Value Added Tax ( Title II of the Bill ) The bill would establish a Deficit Reduction Trust Fund ( DRTF ) in the U.S. Treasury . Amounts ...
... apply to transactions occurring after December 31 , 1989 . B. Allocation of Revenues from Value Added Tax ( Title II of the Bill ) The bill would establish a Deficit Reduction Trust Fund ( DRTF ) in the U.S. Treasury . Amounts ...
Page 22
... applying the VAT rate to the amount paid by the purchaser or lessee.32 A seller of real property would receive a VAT credit for the VAT paid on the purchasing , con- structing , or improving of the property . A lessor of real property ...
... applying the VAT rate to the amount paid by the purchaser or lessee.32 A seller of real property would receive a VAT credit for the VAT paid on the purchasing , con- structing , or improving of the property . A lessor of real property ...
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Common terms and phrases
activities addition amount of VAT bill would provide border tax adjustment calendar quarter claim a credit commercial-type transaction consumer corporation December 31 deposits destination principle determine Educational Savings Bonds EE savings bonds effective date employee estate freeze example exclusion exempt Exon exports fair market value farmers governmental entities grocery store Gross VAT higher education expenses housing impose a VAT intangible property interest Internal Revenue Code Internal Revenue Service legislation nonbusiness real property performance of services plumber preferred stock premiums previously paid primary residence property or services provide a zero provided in regulations rate of tax retail sale of property section 135 seller Series EE savings services provided small businesses stage of production subject to tax tax point taxable amount taxable person taxable transactions taxation taxpayer tion transfer United Value Added Tax VAT credit VAT imposed VAT liability VAT paid VAT system zero rating zero-rated