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 7
... small businesses . Special rules and treatment of certain transactions The bill would provide special treatment with respect to the per- sonal use of business property by any owner of the taxpayer , gifts of business property or ...
... small businesses . Special rules and treatment of certain transactions The bill would provide special treatment with respect to the per- sonal use of business property by any owner of the taxpayer , gifts of business property or ...
Page 8
... small business ex- emption , all businesses under common control would be considered one taxable person . To the extent provided in regulations , a taxable person would also be allowed to elect to treat any of its divisions as separate ...
... small business ex- emption , all businesses under common control would be considered one taxable person . To the extent provided in regulations , a taxable person would also be allowed to elect to treat any of its divisions as separate ...
Page 14
... enterprises ( such as small businesses or farms ) often are ex- empted from the VAT because both the compliance costs of the tax- payer and the administrative costs of the government are consid- ered to outweigh the benefits of ...
... enterprises ( such as small businesses or farms ) often are ex- empted from the VAT because both the compliance costs of the tax- payer and the administrative costs of the government are consid- ered to outweigh the benefits of ...
Page 28
... Small business exemption The bill would permit certain small businesses to elect not to be treated as a taxable person except with respect to ... small businesses would be favored over businesses subject to 28 Administrative provisions.
... Small business exemption The bill would permit certain small businesses to elect not to be treated as a taxable person except with respect to ... small businesses would be favored over businesses subject to 28 Administrative provisions.
Page 29
... small businesses would be favored over businesses subject to the VAT . For example , if an individual needs to have $ 1,000 of plumbing work performed on a personal residence , the individual would prefer that the plumbing be performed ...
... small businesses would be favored over businesses subject to the VAT . For example , if an individual needs to have $ 1,000 of plumbing work performed on a personal residence , the individual would prefer that the plumbing be performed ...
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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