Nonreimbursement Certificates: Hearings Before the Committee on Ways and Means, House of Representatives, Seventy-seventh Congress, Second Session on H. J. Res. 257, a Joint Resolution to Amend Section 124 of the Internal Revenue Code to Simplify the Procedure in Connection with Amortization of Certain Facilities. Janury 9, 1942 ... |
Common terms and phrases
abnormal profit administration airplane amended amortization deductions answer applications Army believe build built bursement certificate of necessity certificate of nonreimbursement CHAIRMAN Colonel GREENBAUM Commissioner of Internal committee Congress construction contracting officer COOPER delay determine difficulty DINGELL DISNEY emergency facilities going Government protection Government's interests HEALEY Internal Revenue Code involved KNUTSON machine guns manufacturer matter MCKEOUGH ment motor Navy Department Neutrality Act ODLUM opinion partnerships and individuals pending percent plane plant expansion plant facilities plant in Detroit prime contractor profit protect the Government protecting the interests provision of law question reim reimbursement repeal return of cost ROBERTSON second certificate Secretary FORRESTAL Secretary JONES Secretary of War Secretary PATTERSON Secretary SULLIVAN section 124 small business square feet statement Studebaker Building Studebaker plant subcontractor subsection tax act tax amortization tax bill tax statute taxpayer thing tion TREADWAY United War Department
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Page 3 - Act of 1940, whichever of such periods expires the later, the Advisory Commission to the Council of National Defense, and either the Secretary of War or the Secretary of the Navy certify to the Commissioner that such contract adequately protects the United States with reference to the future use and disposition of such emergency facility. A certificate...
Page 1 - ... shall include some distinctive mark or insignia to be prescribed by the Secretary of War or the Secretary of the Navy to distinguish such...
Page 52 - Without objection, it will be inserted in the record. (The statement referred to follows:) Mr. Chairman, my name is Ross H.
Page 3 - (1) directly, by a provision therein dealing expressly with such reimbursement, or "(2) Indirectly, because the price paid by the United States (insofar as return of cost of the facility Is used as a factor In the fixing of such price) is recognized by the contract as Including a return of cost greater than the normal exhaustion, wear and tear...
Page 1 - I hereby prescribe the following regulations governing certifications to the Commissioner of Internal Revenue by the Secretary of War or the Secretary of the Navy...
Page 3 - If the taxpayer has been or will be reimbursed by the United States for all or a part of the cost of any emergency facility pursuant to any contract with the United States...
Page 3 - ... (2) indirectly, because the price paid by the United States (Insofar as return of cost of the facility is used as a factor in the fixIng of such price) is recognized by the contract as including a return of cost greater than the normal exhaustion, wear and tear. no amortization deduction with respect to such emergency facility shall be allowed for any month after the end of the month In which such contract is made, unless...
Page 26 - Mr. MOTT. We went over that matter in considerable detail, and after much discussion the proposal was turned down, I think unanimously, by this committee. Unless something has developed to change the situation altogether, I see no reason to change my opinion. Mr. WOLCOTT. I would like to do it, but I want to make sure that we are not going to tie up these projects for a year before we can get the Supreme Court to pass upon the constitutionality. Mr. JOHNSTONE. If I may have one more minute, I think...
Page 2 - During the twenty-year period, the grantee will not, without the written consent of the Secretary of War or the Secretary of the Navy, as the case may be, remove, sell or dispose of any of the machine tools or other severable production equipment in the plant at the time of sale, the loss of which would materially reduce the capacity of the facility to produce the items for which it was designed, unless replacement is...
Page 19 - States with reference to the future use and disposition of such emergency facility. A certificate by the Advisory Commission to the Council of National Defense and either the Secretary of War or the Secretary of the Navy, made to the Commissioner before the expiration of...