Small Business Tax Reform, 1970-74: A Compilation of Testimony, Statements, and Exhibits Presented to the Committee on Ways and Means, U.S. House of Representatives, Together with Related Background Materials on the Need for Tax Simplification and Reform for Small Business |
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$1 million administration Alan Bible amended annual receipts assets benefits big business Business Tax Analyst business tax bill business tax reform Business Tax Simplification capital gains Chairman Committee on Small companies Congress deduction earnings economy effect enactment enterprise estate tax Evins financing Frank Carlson Government gross national product income tax independent business industry interest Internal Revenue Code Internal Revenue Service investment credit legislation loans loss Magna Carta manufacturing Means Committee ment National Small Business ness net operating income normal tax number of employees operating partnership President problems proposal recommendations Reform Act Senator Bible Simplification and Reform Small Business Act Small Business Administration Small Business Association small business community small business corporations small business tax small businessmen small firms standard subchapter S corporation subsection surtax exemption tax laws tax rates tax system taxable taxation taxpayer tion TITLE Treasury Department U.S. Senate
Popular passages
Page 43 - It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect insofar as is possible the interests of small business concerns in order to preserve free competitive enterprise...
Page 173 - Tour committee believes that the enactment of a provision of this type is desirable because it permits businesses to select the form of business organization desired without the necessity of taking into account major differences in tax consequences.
Page 222 - Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.
Page 105 - A" of this part, if its number of employees exceeds 250 persons, but not more than 1,500 persons; (4) As small if it is primarily engaged in the food canning and preserving industry and its number of employees does not exceed 500 persons exclusive of agricultural labor as defined in subsection (k) of the Federal Employment Tax Act, 68A Stat.
Page 65 - The economic philosophy behind the clause empowering Congress to grant patents and copyrights is the conviction that encouragement of individual effort by personal gain is the best way to advance public welfare through the talents of authors and inventors in "Science and useful Arts.
Page 116 - ... nearest the last day of the third month in each calendar quarter for the preceding four quarters. If a concern has not been in existence for four calendar quarters, "number of employees...
Page 95 - Industry" means a grouping of establishments primarily engaged in similar lines of activity as listed and described in the Standard Industrial Classification Manual, as amended (SIC Manual), prepared and published by the Bureau of the Budget (now Office of Management and Budget), Executive Office of the President. (q) "Medical and dental laboratory...
Page 42 - For the purposes of this Act, a small-business concern shall be deemed to be one which is independently owned and operated and which is not dominant in its field of operation.
Page 103 - BUSINESS (See item 11) a. Small business concern — A small business concern for the purpose of Government procurement is a concern, including its affiliates, which is Independently owned and operated. Is not dominant In the field of operation in which it Is bidding on Government contracts and can further qualify under the criteria concerning number of employees, average annual receipts, or other criteria, as prescribed by the Small Business Administration.
Page 149 - All that is necessary for the triumph of evil is that good men do nothing.