General Revenue Revision. Hearings..., Eighty-fifth Congress, Second Session, on Topics Pertaining to the General Revision of the Internal Revenue Code, Pt. 2, Part 2U.S. Government Printing Office, 1958 - 1145 pages |
Common terms and phrases
allocated amended American amount assets basis benefit capital gains cash certificates CHAIRMAN co-op coal commercial banks competition Congress cooperative corporations cost credit unions dairy dealer decedent deduction depletion allowance deposits distribution earnings economic effect employees equity estate tax exemption expenses farm farmer cooperatives Federal income tax finance FORAND fuel funds Government grain gross income included increase individual industry interest Internal Revenue Code Internal Revenue Service investment KEOGH legislation loan associations loss marital deduction Means Committee ment million mining mutual savings banks National net margins oil shale operating organization paid patronage dividends patronage refunds patrons payment pension percent percentage depletion permitted plans preferred stock present president production profits proposed purchase received reserves retirement ROTH savings and loan self-employed Service small business statement stockholders Sylacauga synthetic fuels taxable income taxation taxpayer tion Treasury United
Popular passages
Page 1385 - At the election of the taxpayer, expenditures paid or incurred during the taxable year for the purpose of ascertaining the existence, location, extent, or quality of any deposit of ore or other mineral...
Page 1385 - In no case shall this section apply with respect to amounts paid or incurred for the purpose of ascertaining the existence, location, extent, or quality of any deposit of oil or gas.
Page 1468 - As used in this paragraph the term "gross income from the property" means the gross income from mining. The term "mining", as used herein, shall be considered to include not merely the extraction of the ores or minerals from the ground but also the ordinary treatment processes normally applied by mine owners or operators in order to obtain the commercially marketable mineral product or products.
Page 1479 - The amount of all Items of gross income In respect of a decedent which are not properly includible in respect of the taxable period in which falls the date of his death...
Page 1732 - Every credit union is a cooperative institution organized "for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes.
Page 1897 - For purposes of this subchapter shares of stock owned and held by a nonresident not a citizen of the United States shall be deemed property within the United States only if issued by a domestic corporation.
Page 1411 - In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27 y2 per centum of the gross Income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or Incurred by the taxpayer In respect of the property.
Page 1612 - ... so long as that purpose is the equivalent of business activity or is followed by the carrying on of business by the corporation, the corporation remains a separate taxable entity.
Page 1369 - Members of family — (A) In general. An individual shall be considered as owning the stock owned, directly or indirectly, by or for — (i) His spouse (other than a spouse who is legally separated from the individual under a decree of divorce or separate maintenance ) , and...
Page 1887 - If an annuity contract is purchased by an employer for an employee under a plan with respect to which the employer's contribution is deductible under section...