Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 1975 - Administrative law Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
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Common terms and phrases
accumulation distribution adjusted basis allocated amount annuity apply attributable beginning after December beneficiary capital loss carryback carryover charitable remainder Code company taxable income contracts corpus credited decedent December 31 deemed distributed defined in section described in section determined distributable net income duction election estate or trust estates and trusts exceeds excess fair market value foreign trust created gain or loss grantor graph gross income imposed by section included insurance company taxable insurance reserves Internal Revenue Code investment yield liability loss from operations ment mutual insurance mutual insurance company nership operations loss ordinary income paid paragraph partner partnership property payment percent portion preceding taxable premiums prior provided in section reinsured sale or exchange section 666 section 809 Statutory provisions subchapter subparagraph subpart taken into account tax imposed tax-exempt interest taxable investment income taxable years beginning term tion transfer treated tributed trust instrument U.S. person unused loss
Popular passages
Page 416 - All interest paid or accrued within the taxable year on indebtedness, except on indebtedness Incurred or continued to purchase or carry obligations (other than obligations of the United States Issued after September 24, 1917, and originally subscribed for by the taxpayer) the Interest upon which is wholly exempt from the taxes Imposed by this title.
Page 314 - In the case of an assessment life insurance company or association, life insurance reserves include sums actually deposited by such company or association with State or Territorial officers pursuant to law as guaranty or reserve funds, and any funds maintained under the charter or articles of incorporation or association...
Page 455 - To the result so obtained, add unearned premiums on outstanding business at the end of the preceding taxable year and deduct unearned premiums on outstanding business at the end of the taxable year.
Page 362 - ... loss year") shall be carried to the earliest of the taxable years to which (by reason of paragraph (1)) such loss may be carried. The portion of such loss which shall be carried to each of the other taxable years shall be the excess, if any, of the amount of such loss over the sum of the taxable income for each of the prior taxable years to which such loss may be carried.
Page 21 - ... paid or permanently set aside for the purposes and in the manner specified in section 23 (o), or is to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals, or for the establishment, acquisition, maintenance or operation of a public cemetery not operated for profit...
Page 315 - Life insurance companies issuing policies covering life, health, and accident insurance combined in one policy issued on the weekly premium payment plan, continuing for life and not subject to cancellation...
Page 199 - ... whom the grantor Is legally obligated to support or maintain, except to the extent that such Income Is so applied or distributed. In cases where the amounts so applied or distributed are paid out of corpus or out of other than Income for the taxable year, such amounts shall be considered to be an amount paid or credited within the meaning of paragraph (2) of section 661 (a) and shall be taxed to the grantor under section 662.
Page 208 - The person who, by reason of the death of the decedent, acquires the right to receive the amount, if the right to receive the amount is not acquired by the decedent's estate from the decedent; or...
Page 193 - In which the holdings of the grantor and the trust are significant from the viewpoint of voting control; (P) a power to control the Investment of the trust funds either by directing Investments or reinvestments, or by vetoing proposed investments or reinvestments, to the extent that the trust funds consist of stocks or securities of corporations In which the holdings of the grantor and the trust are significant from the viewpoint of voting control; or (C) a power to reacquire the trust corpus by...
Page 226 - A person shall be recognized as a partner for purposes of this subtitle if he owns a capital interest in a partnership in which capital is a material income-producing factor, whether or not such interest was derived by purchase or gift from any other person.