1983-84 Miscellaneous Tax Bills--IV, S. 108, S. 1464, S. 1549, S. 1579, and S. 1600: Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance, United States Senate, Ninety-eighth Congress, First Session, on S. 108, S. 1464, S. 1549, S. 1579, and S. 1600, August 1, 1983U.S. Government Printing Office, 1984 - 439 pages |
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Page 40
... continues to hold the asset , no appreciation in value of the asset is includible in income , and no loss is allowable for any decline in value . Gain on disposition of a capital asset which has been held for more than one year is ...
... continues to hold the asset , no appreciation in value of the asset is includible in income , and no loss is allowable for any decline in value . Gain on disposition of a capital asset which has been held for more than one year is ...
Page 52
... continue to be as much as 50 percent , but the founda- tion itself may hold no more than 25 percent of the voting stock . Explanation of the Bill The bill would provide that the divestiture requirements of the excess business holding ...
... continue to be as much as 50 percent , but the founda- tion itself may hold no more than 25 percent of the voting stock . Explanation of the Bill The bill would provide that the divestiture requirements of the excess business holding ...
Page 67
... continuing the efforts that have been made in the last two years toward these goals . It will protect Americans from ... continues at its present low levels . If we are ever going to correct the inequities that inflation wreaks on our ...
... continuing the efforts that have been made in the last two years toward these goals . It will protect Americans from ... continues at its present low levels . If we are ever going to correct the inequities that inflation wreaks on our ...
Page 81
... continue to be applied equally to all foundations . Senate bill 1549 provides an exemption from the tax on unrelat- ed business income for schools and pension trusts who have invest- ed as limited partners in partnerships holding ...
... continue to be applied equally to all foundations . Senate bill 1549 provides an exemption from the tax on unrelat- ed business income for schools and pension trusts who have invest- ed as limited partners in partnerships holding ...
Page 82
... continue to apply in this case . For the reasons above , we oppose Senate bill 1549 . Mr. Chairman , this concludes my testimony . I am sorry to be here and spoil Colorado Day . I do appreciate the opportunity of of- fering our views ...
... continue to apply in this case . For the reasons above , we oppose Senate bill 1549 . Mr. Chairman , this concludes my testimony . I am sorry to be here and spoil Colorado Day . I do appreciate the opportunity of of- fering our views ...
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Common terms and phrases
activities allocations allowed ALTMAN American Legion Auxiliary amount APACHE CORPORATION apply automobile basis benefits bill Broadmoor Hotel business income tax capital gains tax cents a mile Chairman charitable Colorado Colorado Springs Committee community colleges Congress contributions corporate cost Debt Management depreciation donated economic effect employees enacted equipment excess business holdings exempt organizations Federal Finance gas properties gas working interests gifts income tax increase indexing industry inflation adjustment institutions Internal Revenue Code investment in oil investors Junior League legislation limited partners limited partnership Meals on Wheels ment mileage rate million mismeasurement National oil and gas operating passive PEARLMAN pension percent persons Pomar Foundation private foundation purposes qualified real property royalties Senator ARMSTRONG statement Subcommittee on Taxation tax brackets tax credit tax policy tax rate Taxation and Debt taxpayer tion United unrelated business income veterans vocational education volunteer mileage deduction
Popular passages
Page 48 - Unrelated trade or business — (a) General rule. The term "unrelated trade or business" means. in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the profits derived) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption...
Page 42 - ... a two-year program in engineering, mathematics, or the physical or biological sciences which is designed to prepare the student to work as a technician and at a semiprofessional level in engineering, scientific, or other technological fields which require the understanding and application of basic engineering, scientific, or mathematical principles or knowledge ; (4) is a public or other nonprofit institution...
Page 207 - Week is sponsored by the National Education Association, the American Legion, the United States Office of Education, and the National Congress of Parents and Teachers," in cooperation with other national, state, and local groups.
Page 42 - ... credits are accepted, on transfer, by not less than three institutions which are so accredited, for credit on the same basis as if transferred from an institution so accredited.
Page 42 - ... certificate, (2) is legally authorized within such State to provide a program of education beyond secondary education, (3) provides an educational program for which it awards a bachelor's degree or provides not less than a two-year program which is acceptable for full credit toward such a degree, (4) is a public or other nonprofit institution, and (5) is accredited by a nationally recognized accrediting agency or association...
Page 42 - Such term also includes any school which provides not less, than a one-year program of training to prepare students for gainful employment in a recognized occupation and which meets the provisions of paragraphs (1), (2), (4), and (5).
Page 213 - All public laws granting medical or hospital treatment, domiciliary care, compensation and other allowances, pension, disability allowance, or retirement pay to veterans and the dependents of veterans of the Spanish-American War, including the Boxer Rebellion and the Philippine Insurrection, and the "World War, or to former members of the military or naval service for injury or disease incurred or aggravated in the line of duty in the military or naval service (except...
Page 184 - ... inculcate a sense of individual obligation to the community, state and nation; to combat the autocracy of both the classes and the masses; to make right the master of might; to promote peace and good will on earth ; to safeguard and transmit to posterity the principles of Justice, Freedom and Democracy; to consecrate and sanctify our comradeship by our devotion to mutual helpfulness.
Page 42 - 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...
Page 332 - The problem at which the tax on unrelated business income is directed is primarily that of unfair competition. The tax-free status of section 101 organizations enables them to use their profits taxfree to expand operations, while their competitors can expand only with the profits remaining after taxes.