Tax Treatment of Interest and Dividends, Charitable Contributions of Certain Inventory, and Uranium Litigation Settlement Discounts: Joint Hearing Before the Subcommittee on Taxation and Debt Management and Subcommittee on Savings, Pensions, and Investment Policy of the Committee on Finance, United States Senate, Ninety-seventh Congress, Second Session, on S. 1928, S. 2214, and S. 2281, May 7, 1982U.S. Government Printing Office, 1982 - 283 pages |
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25 percent American American Motorcyclist Association amount Apple Apple Computer automobile basis benefit bill borrowing capital gains tax Chairman charitable contribution Committee companies CONGRESS THE LIBRARY consumer credit consumer debt consumer interest deduction consumer interest expense consumption corporate cost deduction for consumer discounts dividend income dividends received effect elimination enacted equity ERTA exemption Federal finance gross income impact income tax increase individual industry inflation interest and dividend interest exclusion interest income interest paid interest rates interest received Internal Revenue Service Investment Incentives Act itemized deduction joint return legislation LIBRARY OF CONGRESS limited loans marginal tax rates million mortgage mutual funds net interest income percentage personal savings proposal purchase reduce savings and investment savings incentives schools Secretary CHAPOTON Senator BYRD Senator DANFORTH Senator PACKWOOD Senator SCHMITT settlement tax code tax policy tax system taxable income taxpayers tion Treasury uranium utilities Westinghouse
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Page 12 - 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 3 - ... (B) the aggregate dividends received by such company during such taxable year are less than 75 percent of its gross income, then, in computing the credit under section 34 (a), the exclusion under section 116, and the deduction under section 243, there shall be taken into account only that portion of the dividend which bears the same ratio to the amount of such dividend as the aggregate dividends received by such company during such taxable year bear to its gross income for such taxable year.
Page 2 - Act, 1922 (see sec. 941); (2) A corporation which, for the taxable year of the corporation in which the distribution is made, or for the next preceding taxable year of the corporation, is — (A) A corporation exempt from tax under section 501 (relating to certain charitable, etc., organizations) or section 521 (relating to farmers...
Page 12 - institution of higher education" means an educational institution in any State which— (1) admits as regular students only individuals having a certificate of graduation from a high school, or the recognized equivalent of such a certificate; (2) is legally authorized within such State to provide a program of education beyond high school...
Page 12 - 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 4 - ... company in a written notice mailed to its shareholders not later than 45 days after the close of its taxable year.
Page 12 - Provides an educational program for which it awards a bachelor's or higher degree, or provides a program which is acceptable for full credit toward such a degree, or offers a program of training to prepare students for gainful employment in a recognized occupation; and D.
Page 6 - For purposes of this paragraph, the term 'qualified research contribution' means a charitable contribution by a corporation of tangible personal property described in paragraph (1) of section 1221, but only if— "(i) the contribution is to an educational organization which is described in subsection...
Page 4 - ... gross income for such taxable year. (2) Notice to shareholders. The amount of any distribution by a regulated investment company which may be taken into account as a dividend for purposes of the...
Page 6 - ... (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 clauses...