A Treatise on the Federal Corporation Tax Law, Including Therein a Commentary on the Act Itself, an Appendix Containing the Text of the Act, All Rules and Regulations of the Treasury Department, Relating in Any Way to the Act; Text of All Laws Relating to the Collection, Remission and Refund of Internal Revenue; Text Applicable to the Administration of the Federal Corporation Tax Law, and Opinions of the Attorney-general Bearing Upon the Meaning of the ActConsiders the corporation tax provisions of the Payne Tariff Act of 1909. |
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Common terms and phrases
Act of August aforesaid Alaska allowance for depreciation Appendix applicable ascertained assessment Attorney-General authority bonded books from January business and properties business transacted centum charges collection collector or deputy collectors of internal Commissioner of Internal companies subject company or association Constitution Corporation Tax Law cost December 31 deputy collector distraint District of Columbia dividends upon stock duty exceeding exempt exports false or fraudulent Federal Corporation Tax foreign country gross amount gross income income received indebtedness insurance companies interest actually paid internal revenue inventory joint stock company liable maintenance and operation manufactured necessary expenses net income ordinary and necessary paid-up capital stock panies payment person poration proper deduction purpose real estate regulations represented by shares required by law Secretary section 38 shareholders special excise tax stockholders T. R. March 29 tax imposed taxation therein tion Total amount TREASURY DEPARTMENT trust United
Popular passages
Page 34 - The result is a conviction that the states have no power, by taxation or otherwise, to retard, impede, burden, or in any manner control the operations of the constitutional laws enacted by Congress to carry into execution the powers vested in the general government.
Page 288 - ... shall be a lien in favor of the United States upon all property and rights to property, whether real or personal, belonging to such person.
Page 118 - ... sums other than dividends, paid within the year on policy and annuity contracts and the net addition, if any, required by law to be made within the year to reserve funds...
Page 294 - The Commissioner of Internal Revenue, subject to regulations prescribed by the Secretary of the Treasury, is authorized to remit, refund, and pay back all taxes erroneously or illegally assessed or collected, all penalties collected without authority, and all taxes that appear to be unjustly assessed or excessive in amount, or in any manner wrongfully collected...
Page 45 - All laws should receive a sensible construction. General terms should be so limited in their application as not to lead to injustice, oppression, or an absurd consequence. It will always, therefore, be presumed that the legislature intended exceptions to its language, which would avoid results of this character. The reason of the law in such cases should prevail over its letter.
Page 114 - Columbia, shall be subject to pay annually a special excise tax with respect to the carrying on or doing business by such corporation, joint stock company or association, or insurance company, equivalent to one per centum upon the entire net income over and above five thousand dollars received by it from all sources during such year...
Page 32 - Amendment, that no State shall deny to any person within its jurisdiction the equal protection of the laws, was not intended to prevent a State from adjusting its system of taxation in all proper and reasonable ways.
Page 146 - It shall be unlawful for any collector, deputy collector, agent, clerk, or other officer or employee of the United States to divulge or to make known in any manner whatever not provided by law...
Page 139 - Commissioner, for the purpose of ascertaining the correctness of any return or for the purpose of making a return where none has been made, is hereby authorized, by any revenue agent or inspector designated by him for that purpose, to examine any books, papers, records, or memoranda bearing upon the matters required to be included in the return, and may require the attendance of the person...
Page 255 - ... all the ordinary and necessary expenses actually paid within the year out of income in the maintenance and operation of its business and properties...