Description of Tax Bills (S. 578, S. 768, S. 1276, and S. 1472): Scheduled for a Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance on September 25, 1981U.S. Government Printing Office, 1981 - 14 pages |
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Page 12
... less if the proceeds are used for the acquisition , construction , or improvement of land or depreciable property . At the election of the issuer , the $ 1 million limitation may be in- creased to $ 10 million . If this election is made ...
... less if the proceeds are used for the acquisition , construction , or improvement of land or depreciable property . At the election of the issuer , the $ 1 million limitation may be in- creased to $ 10 million . If this election is made ...
Page 13
... less than 60 months ( sec . 174 ( b ) ) . 2 Because research and experimentation expenditures constitute capital expenditures , such expenses are to be taken into account for purposes of determining whether the exempt small issue ...
... less than 60 months ( sec . 174 ( b ) ) . 2 Because research and experimentation expenditures constitute capital expenditures , such expenses are to be taken into account for purposes of determining whether the exempt small issue ...
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Common terms and phrases
$10 million limitation 578 would allow 80-5 and Revenue account for purposes accounting for inventories allow taxpayers apply to taxable beginning after December capital ex change to LIFO clearly reflect income conformity requirement cost or market December 25 December 31 deduct currently Economic Recovery Tax Effective date elects to deduct ending inventory excess inventory exempt small issue FIFO industrial development bonds Interest Exemption Internal Revenue Service inven inventory accounting inventory items inventory writedowns issue industrial development lower of cost March 11 market value market writedowns method of accounting method of inventory net realizable value obligations issued Proc provisions qualified small businesses Recovery Tax Act research and experimental research expenditures research expenses research or experimental Revenue Procedure 80-5 Revenue Ruling 80-60 small issue industrial taxable years beginning taxable years ending taxpayer elects taxpayers using LIFO Thor Power decision tory writedowns trade or business Treasury regulations U.S. Supreme Court value will result