Reports of the Tax Court of the United States, Volume 28U.S. Government Printing Office, 1958 - Taxation |
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Common terms and phrases
agreement amount annuity application assets average base period basis bobbinet capital gain cash cent claim common stock Company Component Gold Seal computed construction contract corporation cost Court decedent December 31 deduction deficiency disallowed dividends Docket earnings East Flagler Edell employees entitled estimated tax excess profits tax expenses February 28 filed FINDINGS OF FACT fiscal year ended follows Froedtert Gersten gilsonite gross income held hereinafter included income tax income tax return indebtedness interest Internal Revenue Code issue January January 31 lease liability loan loss manufacture ment November 30 nylon operation ordinary income paid parties partnership payment period net income peti petitioner petitioner's policies preferred stock Premium prior production purchase received relief under section respect respondent determined respondent's section 722 sold Spiesman statute Steep Rock stipulated stockholders supra taxpayer tion tioner trade or business transfer trust voting trust Weyerhaeuser
Popular passages
Page 953 - Provided, that nothing herein contained shall render illegal, contracts or agreements prescribing minimum prices for the resale of a commodity which bears, or the label or container of which bears, the trademark, brand, or name of the producer or distributor of such commodity and which is in free and open competition with commodities of the same general class produced or distributed by others, when contracts or agreements of that description are lawful as applied...
Page 710 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 77 - ... reasonably required and actually expended for the support during the settlement of the estate of those dependent upon the decedent, as are allowed by the laws of the jurisdiction, whether within or without the United States, under which the estate is being administered...
Page 548 - ... then the basis shall be the same as it would be in the hands of the transferor, increased in the amount of gain or decreased in the amount of loss recognized to the transferor upon such transfer under the law applicable to the year in which the transfer was made.
Page 975 - State, or any political subdivision thereof, or any agency or instrumentality of any one or more of the foregoing), of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce or sales or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property ; also from interest, rent, dividends, securities...
Page 658 - Gross income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service, of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property; also from interest, rent dividends, securities, or the transaction...
Page 441 - In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27 % 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 755 - A subsequent marriage contracted by any person during the life of a former husband or wife of such person, with any person other than such former husband or wife, is illegal and void from the beginning, unless: 1.
Page 193 - In order to obtain the commercially marketable mineral product or products, and so much of the transportation of ores or minerals (whether or not by common carrier) from the point of extraction from the ground to the plants or mills in which...
Page 144 - States and not having an office or place of business therein, from sources within the United States as interest (except interest on deposits with persons carrying on the banking business), dividends, rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable annual or periodical...