Description of Tax Bills (S.1857 and S.2165): Scheduled for a Joint Hearing Before the Subcommittee on Taxation and Debt Management and the Subcommittee on Savings, Pensions, and Investment Policy of the Committee on Finance on February 24, 1984U.S. Government Printing Office, 1984 - 13 pages |
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Page
... expenditure responsibili- ty requirements . e . Abatement of first - tier excise taxes 2. S. 2165 ( Senators Danforth ... expenditures ; modification of qualified research definition ; equipment depreci- ation under credit , ACRS ...
... expenditure responsibili- ty requirements . e . Abatement of first - tier excise taxes 2. S. 2165 ( Senators Danforth ... expenditures ; modification of qualified research definition ; equipment depreci- ation under credit , ACRS ...
Page 4
... expenditures incurred in carrying on a trade or business (Code sec. 44F, enacted in ERTA). The credit applies only to the extent that the taxpayer's qualified research expenditures for the taxable year exceed the average amount of ...
... expenditures incurred in carrying on a trade or business (Code sec. 44F, enacted in ERTA). The credit applies only to the extent that the taxpayer's qualified research expenditures for the taxable year exceed the average amount of ...
Page 2
... expenditures incurred in carrying on a trade or business ( Code sec . 44F , enacted in ERTA ) . The credit applies only to the extent that the taxpayer's qualified research expenditures for the taxable year exceed the average amount of ...
... expenditures incurred in carrying on a trade or business ( Code sec . 44F , enacted in ERTA ) . The credit applies only to the extent that the taxpayer's qualified research expenditures for the taxable year exceed the average amount of ...
Page 2
... expenditures ; modifi- cation of qualified research definition ; equipment depreci- ation under credit , ACRS provisions ; modification of trade or business requirement Present law An income tax credit is allowed for certain qualified ...
... expenditures ; modifi- cation of qualified research definition ; equipment depreci- ation under credit , ACRS provisions ; modification of trade or business requirement Present law An income tax credit is allowed for certain qualified ...
Page 3
... expenditures under section 174 as " re- search and development costs in the experimental or laboratory sense . " ) A taxpayer's research expenditures eligible for the section 44F incremental credit consist of ( 1 ) " in - house " ...
... expenditures under section 174 as " re- search and development costs in the experimental or laboratory sense . " ) A taxpayer's research expenditures eligible for the section 44F incremental credit consist of ( 1 ) " in - house " ...
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Common terms and phrases
65 percent amount of credit-eligible augmented charitable deduction base period expenditures basic research expenditures beginning after 1983 bill would provide business test charitable deduction rules Code sec college or university computer software contract research corporation's credit applies December 31 depreciation cost recovery disqualified person donee organization donor foundation eligible enacted in ERTA erwise excise tax expenditure responsibility Explanation of provision fair market value fellowship grant fixed floor grants or contributions gross income improved business item Internal Revenue Service Liberalize Charitable Deduction loan forgiveness operating foundations paid or incurred partner partnership penditures prepayment limitation present law present-law incremental credit private nonoperating foundations public charities purposes pursuant qualified organization qualified research expenditures recipient research expenses Section 2(d section 44F credit self-dealing significantly improved business special deduction special rule substantial contributor taxable years beginning taxpayer tion trade or business Treasury regulations Tsongas tures university basic research written research agreement
Popular passages
Page 22 - State to provide a program of education beyond high school; (3) provides an educational program for it which awards a bachelor's or higher degree, or provides a program which is acceptable for full credit toward such a degree...
Page 9 - research or experimental expenditures", as used in section 174, means expenditures incurred in connection with the taxpayer's trade or business which represent research and development costs in the experimental or laboratory sense. The term includes generally all such costs incident to the development of an experimental or pilot model, a plant process, a product, a formula, an invention, or similar property, and the improvement of already existing property of the type mentioned.
Page 22 - An educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are regularly carried on...
Page 22 - school bus' means any automobile bus substantially all the use of which is in transporting students and employees of schools. For purposes of the preceding sentence, the term 'school' means an educational organization which normally maintains a regular faculty and curriculum and normally has a regularly enrolled body of pupils or students in attendance at the place where its educational activities are carried on.
Page 22 - institution of higher education" means an educational institution in any State which (1) admits as regular students only persons having a certificate of graduation from a school providing secondary education, or the recognized equivalent of such a certificate, (2) is legally authorized within such State to provide a program of education beyond...
Page 8 - In order to ensure that such grants will be properly used by the recipient for charitable purposes, the grantor must make reasonable efforts, and establish adequate procedures, to see that the grant is spent solely for proper uses, to obtain full reports from the grantee, and to make full reports to the Internal Revenue Service on the grants (sec.
Page 15 - ... of certain related persons for purposes of computing any allowable credit. These rules are intended to prevent artificial increases in research expenditures by shifting expenditures among commonly controlled or otherwise related persons.
Page 15 - In the case of an individual who owns an interest in an unincorporated trade or business, who is a beneficiary of a trust or estate, who is a partner in a partnership, or who is a shareholder in...
Page 10 - In general. Research or experimental expenditures paid or incurred by a taxpayer during the taxable year in connection with his trade or business are deductible as expenses, and are not chargeable to capital account, if the taxpayer adopts the method provided In section 174 (a) . See paragraph (b) of this section.
Page 9 - Except as provided in subsection (b), there shall be allowed as a deduction in computing taxable income all expenditures paid or incurred during the taxable year for the development of a mine or other natural deposit (other than an oil or gas well) if paid or incurred after the existence of ores or minerals in commercially marketable quantities has been disclosed.