 | Wisconsin - Session laws - 1935 - 1308 pages
...function of a corporation is to invest the capital or income of one or more Wisconsin residents and that the gains or profits are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape taxation. In all cases the burden... | |
 | Wisconsin - Bills, Private - 1935 - 1310 pages
...function of a corporation is to invest the capital or income of one or more Wisconsin residents, and that the gains or profits are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape taxation. In all cases the burden... | |
 | United States. Internal Revenue Service - Income tax - 1924 - 396 pages
...and subject to the same provisions of law, including penalties, as that tax. (b) The fact that any corporation is a mere holding or investment company,...permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Walter Elbert Barton, United States, Carroll Wright Browning - Income tax - 1925 - 580 pages
...subject to the same provisions of law, including penalties, as that tax. SEC. 220. (b) The fact that any corporation is a mere holding or investment company,...permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. SEC. 220. (c) When... | |
 | John F. Sherwood - Income tax - 1925 - 206 pages
...and subject to the same provisions of law, including penalties, as that tax. (b) The fact that any corporation is a mere holding or investment company,...permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Irving Bank-Columbia Trust Company - Income tax - 1925 - 152 pages
...and subject to the same provisions of law, including penalties, as that tax. (b) The fact that any corporation is a mere holding or investment company,...permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | National Tax Association - Law - 1926 - 622 pages
...and subject to the same provisions of law, including penalties, as that tax. (b) The fact that any corporation is a mere holding or investment company,...permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Edward Sherwood Mead, Karl William Henry Scholz - Business - 1926 - 330 pages
...provided for a 25 per cent additional tax on "net income of corporations for each taxable year, if gains or profits are . . . permitted to accumulate beyond the reasonable needs of business." The Federal Revenue Act of 1924, Section 220, raises this rate to 50 per cent, but, as previously indicated,... | |
 | Harrison B. Spaulding - Income tax - 1927 - 336 pages
...dividends, and will not be subject to further tax when they are later actually distributed. 3 The law makes the fact that the corporation is a mere holding or...permitted to accumulate beyond the reasonable needs of the business, prima facie evidence of a purpose to escape the surtax. 1 It should also be noted... | |
 | Eric Louis Kohler - Income tax - 1927 - 618 pages
...and subject to the same provisions of law, including penalties, as that tax. (b) The fact that any corporation is a mere holding or investment company,...permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
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... (b) The fact that any corporation is a mere holding or investment company, or that the gains or profits are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. 
