 | United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1927 - 414 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) As used in this... | |
 | S. Howard Patterson, Karl William Henry Scholz - Economics - 1927 - 640 pages
...Sixty-eighth Congress, First session, Senate Report 398, Part 2, p. 10. income for each taxable year, if gains or profits are permitted to accumulate beyond the reasonable needs of business. To date, there is no court ruling as to what constitutes reasonable business needs. 15. Stock Dividends... | |
 | United States - Law - 1928 - 1164 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... | |
 | United States - Finance - 1928 - 268 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) As used in this... | |
 | Robert Hiester Montgomery - Excess profits tax - 1927 - 592 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... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - Income tax - 1927 - 626 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... | |
 | United States. Bureau of Internal Revenue - Income tax - 1933 - 452 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) As used in this... | |
 | United States. Board of Tax Appeals - Taxation - 1936 - 1470 pages
...accumulate instead of being divided or distributed ; and the fact that any corporation is a mere lolding or investment company, or that the gains or profits...permitted to accumulate beyond the reasonable needs of the business, is presumptive evidence of the proscribed purpose. The test of the presence of the... | |
 | United States. Congress. Joint Committee on Tax Evasion and Avoidance - Tax evasion - 1937 - 520 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. (d) The tax imposed... | |
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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. 
