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, 1983U.S. Government Printing Office, 1983 - 44 pages |
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Page 3
... United States are to be allocated or appor- tioned to sources within the United States for tax purposes . The bill would provide a permanent rule allocating to U.S. sources all research expenditures attributable to activities conduct ...
... United States are to be allocated or appor- tioned to sources within the United States for tax purposes . The bill would provide a permanent rule allocating to U.S. sources all research expenditures attributable to activities conduct ...
Page 10
... United States . For years be- ginning in 1979 , the regulation allows a taxpayer to apportion 30 percent of the research expenditures to the geographic source in which more than 50 percent of such expenditures were incurred . The ...
... United States . For years be- ginning in 1979 , the regulation allows a taxpayer to apportion 30 percent of the research expenditures to the geographic source in which more than 50 percent of such expenditures were incurred . The ...
Page 11
... United States are to be allocated or apportioned to sources within the United States for all purposes under the Code ( sec . 223 of ERTA ) . One reason for enacting this two - year suspension was that some foreign countries do not allow ...
... United States are to be allocated or apportioned to sources within the United States for all purposes under the Code ( sec . 223 of ERTA ) . One reason for enacting this two - year suspension was that some foreign countries do not allow ...
Page 14
... United States do not enter into the credit computation . Second , the credit is not available for research in the social sci- ences or humanities ( including the arts ) , such as research on psy- chological or sociological topics or ...
... United States do not enter into the credit computation . Second , the credit is not available for research in the social sci- ences or humanities ( including the arts ) , such as research on psy- chological or sociological topics or ...
Page 22
... United States in the physical or biological sciences ; 3 ( 5 ) The property is not transferred by the donee in exchange for money , other property , or services ; and ( 6 ) The taxpayer receives the donee's written statement repre ...
... United States in the physical or biological sciences ; 3 ( 5 ) The property is not transferred by the donee in exchange for money , other property , or services ; and ( 6 ) The taxpayer receives the donee's written statement repre ...
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Common terms and phrases
25 percent credit 65 percent allowed amounts paid augmented deduction base period expenditures charitable contributions charitable deduction rules Code sec Code section college or university computer equipment transfers computer software contract research costs credit would apply Danforth date of enactment donated property duction education of students educational organization Effective date enacted in ERTA exclusion faculty fair market value fellowship grant ferred foreign tax credit gross income indebtedness Internal Revenue Service loan forgiveness meaning of sec ment ordinary income paid or incurred penditures percent of amounts present law pursuant qualified computer equipment qualified research ex qualified research expenditures qualified scientific property random access memory recipient research or scientific scholarship scientific equipment section 174 section 44F credit special rule student loans supra Symms taxable years beginning taxpayer taxpayer's basis taxpayer's qualifying tion trade or business transferor transferor's business transferred property Transfers of qualified Tsongas tures vocational education
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...