Notes on the Revenue Act of 1918, Volumes 1-2United States. Department of the Treasury, United States. Congress. House. Committee on Ways and Means U.S. Government Printing Office, 1919 - 188 pages |
From inside the book
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Page 5
... capital ( whether invested or borrowed ) is a material income - producing factor . It has been sug- gested that this definition be amended so as to include all corpora- tions whose principal stockholders regularly devote their chief ...
... capital ( whether invested or borrowed ) is a material income - producing factor . It has been sug- gested that this definition be amended so as to include all corpora- tions whose principal stockholders regularly devote their chief ...
Page 6
... capital or not , in the active conduct of whose affairs the principal stockholders are regularly engaged . 2. The treatment of partnerships and corporations under the present legislation is radically different . The ordinary corporation ...
... capital or not , in the active conduct of whose affairs the principal stockholders are regularly engaged . 2. The treatment of partnerships and corporations under the present legislation is radically different . The ordinary corporation ...
Page 7
... capital ( whether invested or borrowed ) -is - not a material income producing factor ; but does not include any foreign corporation , nor any corporation 50 per centum or more of whose gross income consists either ( 1 ) -of - gains ...
... capital ( whether invested or borrowed ) -is - not a material income producing factor ; but does not include any foreign corporation , nor any corporation 50 per centum or more of whose gross income consists either ( 1 ) -of - gains ...
Page 9
... capital assets other than those constructed or acquired for the production of war essen- tials , both kinds of losses are to be recognized in computing the net loss . In support of this suggestion it has been urged that as the legis ...
... capital assets other than those constructed or acquired for the production of war essen- tials , both kinds of losses are to be recognized in computing the net loss . In support of this suggestion it has been urged that as the legis ...
Page 11
... capital value of the life interest . Certain State statutes and the decisions thereunder give color to the claim that the value of a life interest at the time received is such a capital value as may serve as the basis of deductions for ...
... capital value of the life interest . Certain State statutes and the decisions thereunder give color to the claim that the value of a life interest at the time received is such a capital value as may serve as the basis of deductions for ...
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Common terms and phrases
1918 by adding accrued act of August act of October affirmed amendment in substantially assessment Baltic Mining Co bank bonds capital stock cent centum collected collector of internal Commissioner of Internal company or association computing construed corporation tax act dealer December 17 deduction distilling District of Columbia dividends drugs exceed excise tax exempt following form gross income hereby Herold income tax indebtedness insurance company interest Internal Revenue internal-revenue issued Jin Fuey Moy joint-stock company lease lessee lessor liable manufacture Maryland Casualty Co McCoach mutual net income officers opium organized paragraph partnership payment penalty person policyholder premium profits purchaser purpose received required by law reserve funds Revenue Act Revised Statutes section 38 section 904 sell sixteenth amendment sold special tax stamp tax stock company stockholders subdivision subject to tax substantially the following suggested tax imposed taxable taxation taxpayer thereof tion Treasury United
Popular passages
Page 94 - July, eighteen hundred and ninety-eight, there shall be levied, collected, and paid, for and in respect of the several bonds, debentures, or certificates of stock and of indebtedness, and other documents, instruments, matters, and things mentioned and described in Schedule A...
Page 11 - The amount received by the insured as a return of premium or premiums paid by him under life insurance, endowment, or annuity contracts, either during the term or at the maturity of the term mentioned in the contract or upon surrender of the contract; (3) The value of property acquired by gift, bequest, devise, or descent (but the income from such property shall be included in gross income...
Page 39 - Except in the case of taxpayers who are abroad, no such extension shall be for more than six months.
Page 116 - Act by providing for the registration and the imposition of a special tax upon all persons in the Canal Zone who produce, import, compound, deal in, dispense, sell, distribute, or give away opium or coca leaves, their salts, derivatives, or preparations.
Page 65 - All persons, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, employers, and all officers and employees of the United States, having the control, receipt,. custody, disposal, or payment...
Page 129 - Columbia, shall be subject to pay annually a special excise tax with respect to the carrying on or doing business...
Page 118 - ... preparations which contain cocaine or any of its salts or alpha or beta eucaine or any of their salts or any synthetic substitute for them...
Page 67 - Fraternal beneficiary societies, orders, or associations, (A) operating under the lodge system or for the exclusive benefit of the members of a fraternity itself operating under the lodge system; and (B) providing for the payment of life, sick, accident, or other benefits to the members of such society, order, or association or their dependents...
Page 125 - The amount so added to any tax shall be collected at the same time and in the same manner and as...
Page 119 - Provided further, That it shall not be necessary to negative any of the aforesaid exemptions in any complaint, information, indictment, or other writ or proceeding laid or brought under this Act; and the burden of proof of any such exemption shall be upon the defendant.