The Code of Federal Regulations of the United States of America
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
able additional adjusted Agency allocation allowed amount apply assets attributable basis beginning book income building calendar capital carried certificate claim Code component computing considered construction corporation cost December 31 deduction defined depreciation described determined effect election employee ending energy equipment equity Example excess expenditures expenses facts Federal filed foreign gain graph gross housing credit income tax increase incurred individual interest investment issued January less liability limitation loan loss low-income means ment method mortgage operating paid paragraph partnership percent period person placed in service portion prior qualified reason received reduced regulations rehabilitation relating requirements residence respect result rules section 38 property separate share sources Special statement subparagraph taken into account tax credit tax preference taxable income taxpayer term tion trade or business transfer treated trust United wages
Page 423 - ... 50 percent of the total value of the shares of all classes of stock of another corporation, then such person (or persons) shall be treated as in control of such other corporation.
Page 544 - Board of Governors of the Federal Reserve System (Part 6801) LIX National Aeronautics and Space Administration (Part 6901) LX United States Postal Service (Part 7001) LXI National Labor Relations Board (Part 7101) LXII Equal Employment Opportunity Commission (Part 7201...
Page 28 - The denominator of which is that percentage which equals the sum of the normal tax rate and the surtax rate for the taxable year prescribed by section 11.
Page 10 - Citizens or residents of the United States liable to tax. In general, all citizens of the United States, wherever resident, and all resident alien individuals are liable to the income taxes imposed by the Code whether the income is received from sources within or without the United States. Pursuant to section 876, a nonresident alien individual who is a bona fide resident of Puerto Rico during the entire taxable year is, except as provided in section 933 with respect to Puerto Rican source income,...
Page 509 - ... those items of income, deductions, and credits against tax of the trust which are attributable to that portion of the trust to the extent such items are taken into account under section 671 and the regulations thereunder. Any remaining portion of the trust is subject to the provisions of this section.
Page 551 - Title 27 — Alcohol, Tobacco Products and Firearms I Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury (Parts 1—399...
Page 20 - For purposes of subsection (a), the term 'surviving spouse' means a taxpayer — "(A) whose spouse died during either of his two taxable years immediately preceding the taxable year, and "(B) who maintains as his home a household which constitutes for the taxable year the principal place of abode (as a member of such household) of a dependent...
Page 282 - ... (4) PROPERTY DESTROYED BY CASUALTY, ETC.— No increase shall be made under paragraph (1) and no adjustment shall be made under paragraph (3) in any case in which— "(A) any property is disposed of, or otherwise ceases to be section 38 property with respect to the taxpayer...
Page 589 - List of CFR Sections Affected All changes in this volume of the Code of Federal Regulations that were made by documents published in the FEDERAL REGISTER since January 1, 2001, are enumerated in the following list. Entries indicate the nature of the changes effected. Page numbers refer to FEDERAL REGISTER pages. The user should consult the entries for chapters and parts as well as sections for revisions. For the period before January 1, 2001, see the "List of CFR Sections Affected, 1949-1963, 1964-1972,...
Page 312 - States citizen (other than a citizen entitled to the benefits of section 931, 932, 933, or 934(c» and which is used predominantly in a possession of the United States by such a corporation or such a citizen, or by a corporation created or organized in, or under the law of, a possession of the United States; (viii) any communications satellite (as defined in section 103(3) of the Communications Satellite Act of 1962, 47 USC, sec.