To Prevent Profiteering in War. Hearings Before a Subcommittee... on H.R. 5529...U.S. Government Printing Office, 1936 - 272 pages |
Common terms and phrases
15 percent adjusted declared value adjusted net income administration adopt allowed amortization amount basis bond brackets BROWN Bureau capital CHAIRMAN CHESTEEN Congress contract corporate tax corporation rate cost course deduction depletion depreciation determine distributed dividends earnings economic excess excess-profits tax exemption existing law experience Finance flat tax FLYNN Government imposed income tax income-tax individual rates industry invested Joint Committee matter ment Military Affairs Committee Munitions Committee normal tax Nye bill Nye committee paid PARKER peacetime bill percentage period plant preferred stock present law production profit motive proposed prosecution provision question rate of tax referred returns Revenue Act schedule Senator BAILEY Senator CLARK Senator CONNALLY Senator GERRY Senator GUFFEY Senator LA FOLLETTE Senator WALSH stockholders subcommittee suggestion tax bill taxable taxpayer thing thought tion Tom Connally UNITED STATES SENATE War Department wartime ZUCKER
Popular passages
Page 258 - Such a portion of a tax computed at the rates specified in subdivision (a) as the part of the net income attributable to such Government contract or contracts bears to the entire net income. In computing...
Page 234 - ... a reasonable deduction for the amortization of such part of the cost of such facilities or vessels as has been borne by the taxpayer...
Page 230 - In the case of buildings, machinery, equipment, or other facilities, constructed, erected, installed, or acquired, on or after April 6, 1917, for the production of articles contributing to the prosecution of the war...
Page 202 - If such owner shall fail to give such notices and pay such taxes he shall be liable to a penalty of three times the amount of such tax, and the supervisor of the town may bring an action to recover the same for the benefit of the town in any court of competent jurisdiction.
Page 260 - In sneh case payment of the amount of the tax covered by such claim shall not be required until the claim is decided, but the taxpayer shall accompany his claim with a bond in double the amount of the tax covered by the claim, with sureties satisfactory to the commissioner, conditioned for the payment of any part of such tax found to be due, with interest.
Page 260 - ... In abatement based on the fact that he has sustained a substantial loss (whether or not actually realized by sale or other disposition) resulting from any material reduction (not due to temporary fluctuation) of the value of the inventory for such taxable ye-ar, or from the actual payment after the close of such taxable year of rebates in pursuance of contracts entered into during such year upon sales made during such year.
Page 260 - ... (a) At the time of filing return for the taxable year 1918 a taxpayer may file a claim in abatement based on the fact that he has sustained a substantial loss (whether or not actually realized by sale or other disposition) resulting from any material reduction (not due to temporary fluctuation) of the value of the inventory for such taxable year...
Page 260 - ... accompany his claim with a bond in double the amount of the tax covered by the claim, with sureties satisfactory to the Commissioner, conditioned for the payment of any part of such tax found to be due, with interest. If any part of such claim is disallowed then the remainder of the tax due shall on notice and demand by the collector be paid by the taxpayer with interest at the rate of...
Page 47 - During the period when a state of war exists between the United States and any foreign nation, communications in regard to casualties or accidents shall be handled with caution and the reports shall not be made by radio or by telegram.
Page 258 - For the taxable year 1919 and each taxable year thereafter there shall be levied, collected, and paid upon the net income of every corporation which derives in such year a net income of more than $10,000 from any Government contract or contracts made between April 6, 1917. and November 11, 1918, both dates inclusive, a tax equal to the sum of the following...