Description of Tax Bills (H.R. 700, H.R. 907, H.R. 1343, H.R. 1773, H.R. 2129, H.R. 2686, H.R. 3284, H.R. 3388, H.R. 3528, H.R. 4167, H.R. 4507, H.R. 4779, H.R. 5022, H.R. 5199): Scheduled for a Hearing Before the Subcommittee on Select Revenue Measures of the Committee on Ways and Means on October 3, 1984

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U.S. Government Printing Office, 1984 - 30 pages

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Page 12 - 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 26 - In determining the existence or nonexistence of such primary purpose, all the circumstances must be considered, including the size and extent of the trade or business and the size and extent of the activities which are in furtherance of one or more exempt purposes. An organization which is organized and operated for the primary purpose of carrying on an unrelated trade or business...
Page 25 - ... engage in business for the common benefit of the members, but only if the members thereof include (at the time of filing their returns) in their gross income their entire pro rata shares, whether distributed or not, of the net income of the association or corporation for such year.
Page 12 - unrelated business taxable income" is defined in section 512 (a) of the Code, with certain modifications, as the gross income derived by any organization from any unrelated trade or business regularly carried on by it, less allowable deductions directly connected with the carrying on of such trade or business.
Page 10 - ... if at the time such benefit is provided it is reasonable to believe that the employee will be able to exclude such benefit from gross income under this chapter.
Page 23 - A debt constitutes acquisition indebtedness with respect to property if the debt was incurred in acquiring or improving the property, or if the debt would not have been incurred "but for...
Page 9 - ... (including amounts expended for meals and lodging other than amounts which are lavish or extravagant under the circumstances...
Page 29 - State agency having authority to regulate the offering of securities for sale, or (B) a partnership or any other enterprise other than a corporation which is not an S corporation engaged in the trade or business of farming, if more than 35 percent of the losses during any period are allocable to limited partners or limited entrepreneurs.
Page 7 - Property used by an organization (other than a cooperative described In section 521) which Is exempt from the tax Imposed by this chapter...
Page 3 - As may be noted above, travel expenses to be deductible must be those incurred while "away from home" in the pursuit of a trade or business.

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