Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 1997 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
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Common terms and phrases
adjusted basis aggregation allocated allowed amount apply assets bad debts bank beginning after December benefits business taxable income capital chargeback cluded computing corporation costs December 31 deduction deposit described in section determined distribution dividends duction election under section employees eral erty Example exempt function exploration expenditures fair market value Federal Federal Acquisition Regulation filed fund ganization graph gross income holding company income included indebtedness Internal Revenue Internal Revenue Code Internal Revenue Service January lease ment mining natural gas operating mineral interests orga organiza organization described outstanding paid partnership percent percentage depletion period personal holding company ported organizations prior private foundation production payment prop purposes of section pursuant real property loans relating reserve for losses respect scribed in section shareholder spect subdivision subparagraph taxable years beginning taxpayer term timber tion trade or business transfer transferor treated trust United VEBA zation
Popular passages
Page 167 - 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...
Page 166 - ... at least 80 percent of the total combined voting power of all classes of stock entitled to vote, and at least 80 percent of the total number of shares of all other classes of stock (except nonvoting stock which is limited and preferred as to dividends...
Page 209 - 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...
Page 15 - ... no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation, and which does not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of any candidate for public office.
Page 21 - 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 213 - 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 53 - ... or (3) Which is the selling of merchandise, substantially all of which has been received by the organization as gifts or contributions. (b) Special rule for trusts. The term "unrelated trade or business...
Page 386 - In the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case...
Page 4 - Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 266 - Either that there was reasonable expectation that the operation of the property would result in a profit, or that the property was necessary to the conduct of the business. (2) The burden of proof will rest upon the taxpayer to sustain the deduction claimed.