The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1974 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
adjusted basis aggregation allocated allowed amount apply assets beginning after December benefit business taxable income capital computing corporation costs December 31 defined in section depletion deposit described in section determined distribution dividends paid duction earnings and profits election under section eral erty exempt organization exploration expenditures fair market value filed foreign personal holding ganization graph gross income holding company income included income tax indebtedness Internal Revenue Code Internal Revenue Service lease losses on qualifying ment mineral property nonmining operating mineral interests organiza organization described paid or incurred paragraph percent period personal holding company ported organizations prior private foundation production payment qualifying real property real property loans relating rents reserve for losses respect royalties section 501 shareholder spect Statutory provisions subdivision subparagraph supporting organization tax imposed taxable years beginning taxpayer term timber tion trade or business transfer treated United unrelated business taxable
Popular passages
Page 146 - unrelated trade or business' means, in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the profits derived) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption under section 501...
Page 425 - In the case of the disposal of timber held for more than 6 months before such disposal, by the owner thereof under any form or type of contract by virtue of which such owner retains an economic interest in such timber, the difference between the amount realized from the disposal of such timber and the adjusted depletion basis thereof, shall be considered as though it were a gain or loss, as the case may be, on the sale of such timber.
Page 12 - Corporations organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this title...
Page 24 - ... stock, if the dividend rate of such stock is fixed at not to exceed the legal rate of interest in the State of incorporation or 8 per centum per annum, whichever is greater, on the value of the consideration for which the stock was issued, and if substantially all such stock (other than nonvoting preferred stock...
Page 175 - Exemption shall not be denied any such association because it has capital stock, if the dividend rate of such stock is fixed at not to exceed the legal rate of interest in the State of incorporation or 8 per centum per annum, whichever is greater, on the value of the consideration for which the stock was issued...
Page 24 - In accordance with such plan; (2) If under the trust Instrument It Is Impossible, at any time prior to the satisfaction of all liabilities with respect to employees and their beneficiaries under the trust, for any part of the corpus or Income to be (within the taxable year or thereafter) used for, or diverted to, purposes other than for the exclusive benefit of his employees or their beneficiaries...
Page 24 - Neither shall a plan be considered discriminatory within the meaning of such provisions merely because the contributions or benefits of or on behalf of the employees under the plan bear a uniform relationship to the total compensation, or the basic or regular rate of compensation, of such employees, or merely because the contributions or benefits based on that part of an employee's remuneration which is excluded from "wages...
Page 18 - Civic leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare, or local associations of employees, the membership of which is limited to the employees of a designated person or persons in a particular municipality, and the net earnings of which are devoted exclusively to charitable, educational, or recreational purposes...
Page 178 - Patronage dividends, refunds, and rebates to patrons with respect to their patronage in the same or preceding years (whether paid in cash, merchandise, capital stock, revolving fund certificates, retain certificates, certificates of indebtedness, letters of advice, or in some other manner that discloses to each patron the dollar amount of such dividend, refund, or rebate) shall...
Page 155 - UNRELATED TRADE OR BUSINESS. (a) GENERAL RULE. — The term "unrelated trade or business" means, in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the profits derived) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption...