Statistics of Income from Returns of Net Income
U.S. Government Printing Office, 1954
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Common terms and phrases
addition adjusted gross income allowed amount applicable average balance sheets base period basis beginning bonds capital assets capital loss cash claimed companies compiled net profit computed Contributions corporation Cost debts deduction depreciation determined distributions dividends dividends paid election ending Enter exceed excess profits tax excluded expenses Federal fiduciary figures in thousands filed footnotes Form gain gifts Government gross estate included income or deficit income tax Instruction interest Internal Revenue Code invested less liability March method money figures months nontaxable returns normal tax notes Number of returns obligations officers payments percent prior profits net income received Rents reported reserves respect Schedule shown sources statement surtax TABLE tax returns Taxable returns taxes paid taxpayer term thousands of dollars tion total income total tax trade trusts United
Page 286 - As used in this subsection, the term "security" means any bond, debenture, note, or certificate or other evidence of indebtedness, issued by any corporation (including one issued by a government or political subdivision thereof), with interest coupons or in registered form...
Page 305 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 337 - ... notice and demand by the collector, or the amount of tax overpaid, if any, shall be credited or refunded to the taxpayer in accordance with the provisions of section 323.
Page 327 - All interest paid or accrued within the taxable year on indebtedness, except on indebtedness incurred or continued to purchase or carry obligations (other than obligations of the United States issued after September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is wholly exempt from the taxes imposed by this title.
Page 8 - In the case of any obligation of the United States or any of Its possessions. or of a State or Territory, or any political subdivision thereof, or of the District of Columbia, issued on or after March 1, 1941, on a discount basis and payable without Interest at a fixed maturity date not exceeding one year from the date of Issue...
Page 290 - ... is greater than the excess of the net long-term capital gain over the net short-term capital loss of the taxable year, the portion of each distribution which shall be a capital gain dividend...
Page 10 - ... resulting from such distribution shall be considered as a gain from the sale or exchange of a capital asset held for not more than 6 months.
Page 325 - ... visual acuity is greater than 20/200 but is accompanied by a limitation in the fields of vision such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.
Page 289 - Gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service (including personal service as an officer or employee of a State, or any political subdivision thereof, or any agency or instrumentality of any one or more of the foregoing...