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 |
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Page 2
... dependents of the taxpayer . S. 442 : Value Added Tax ( Senator Hollings ) S. 442 ( introduced by Senator Hollings ) would amend the Inter- nal Revenue Code to impose a 5 - percent value tax ( VAT ) , effective for transactions ...
... dependents of the taxpayer . S. 442 : Value Added Tax ( Senator Hollings ) S. 442 ( introduced by Senator Hollings ) would amend the Inter- nal Revenue Code to impose a 5 - percent value tax ( VAT ) , effective for transactions ...
Page 4
... dependent of the taxpayer at an eligible educational institution . A taxpayer cannot qualify for the interest exclusion by paying for the education expenses of another person ( such as a grandchild or other relative ) who is not a dependent ...
... dependent of the taxpayer at an eligible educational institution . A taxpayer cannot qualify for the interest exclusion by paying for the education expenses of another person ( such as a grandchild or other relative ) who is not a dependent ...
Page 5
... dependent of the purchaser ) , provided that such education ex- penses paid by the purchaser exceed the proceeds ... dependent . Under current law , a taxpayer who pays for education expenses of an- other individual who is not a spouse ...
... dependent of the purchaser ) , provided that such education ex- penses paid by the purchaser exceed the proceeds ... dependent . Under current law , a taxpayer who pays for education expenses of an- other individual who is not a spouse ...
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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