Description of Tax Bills (S. 654, S. 738, S. 1147, S. 1194, and S. 1195): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on May 27, 1983 |
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65 percent activities agreement Allocating allowed amounts paid apply augmented deduction average base period basic research basis bill certain charitable deduction Code sec college or university computer equipment computer software conducted connection contract contributions corporation costs credit applies data processor defined determined direct discharge donated educational organization Effective date eligible enactment engaged engineering exceed excess exclusion expendi expenses Explanation extent faculty ferred forgiveness grant in-house income Increased indebtedness institution inventory least limitation loan manufactured meaning ment million mortgage ordinary organization orientation payment penditures performance physical present law principal prior pursuant qualified computer qualified research expenditures qualified scientific received recipient reduced residence rule scholarship sciences scientific education section 44F credit supra taxable taxpayer term tion trans transferor transferred property Transfers of qualified treated tures United wages written
Popular passages
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 25 - 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 36 - basic research" means any original investigation for the advancement of scientific knowledge not having a specific commercial objective, except that such term shall not include — (A) basic research conducted outside the United States, and (B) basic research in the social sciences or humanities.
Page 11 - 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 - 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 31 - ... (C) a technical or vocational school used exclusively or principally for the provision of vocational education to persons who have completed or left high school and who are available for...
Page 21 - ... (ii) the property is not transferred by the donee in exchange for money, other property, or services; (iii) the taxpayer receives from the donee a written statement representing that its use and disposition of the property will be in accordance with the provisions of...
Page 25 - 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 31 - ... residents of the State or an area of the State designated and approved by the State board, and...
Page 17 - ... provides an exclusion from gross income of the amount of income attributable to the discharge (in whole or in part) of the taxpayer's qualified business indebtedness. Indebtedness is qualified business indebtedness of the taxpayer only if (i) the indebtedness was incurred or assumed by a corporation, or by an individual in connection with property used in the individual's trade or business, and (ii) such taxpayer makes the election under section 108(d)(4) and this section with respect to the...
Bibliographic information
| Title | Description of Tax Bills (S. 654, S. 738, S. 1147, S. 1194, and S. 1195): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on May 27, 1983 |
| Contributors | United States. Congress. Senate. Committee on Finance. Subcommittee on Taxation and Debt Management, United States. Congress. Joint Committee on Taxation |
| Publisher | U.S. Government Printing Office, 1983 |
| Length | 44 pages |
| Export Citation | BiBTeX EndNote RefMan |