...present law which permits a double inclusion in the "shareholders surplus account" with respect to the excess of net long-term capital gains over net short-term capital losses. This double inclusion, which is removed by the bill, permits the distribution to shareholders of an...

...1946, prior to deducting plaintiff's personal exemption, credit for dependents, exempt income, and the excess of net long-term capital gains over net short-term capital losses, the revenue agent added to the Finding;s of Fact plaintiff's increase in visible net worth during that...

...Btui* at Tax Rate* Applicable Before July I, 1950.— Compute a tentative partial tax by subtracting the excess of net longterm capital gains over net short-term capital losses from items 5 and 10 and using the rates shown in items 6 and 11. The tentative alternative tax will...

...taxable years beginning after ^December 31, 1943, the Internal Revenue Code, as amended, provides that the excess of net long-term capital gains over net short-term capital losses shall be excluded from net income subject to the declared value excess-profits tax. See section 510...

...limitation shall apply only to the partial tax computed on the taxable income reduced by 50 percent of the excess of net long-term capital gains over net shortterm capital losses. Where, for purposes of computations under the income averaging provisions, section 1201(b) is treated...

...limitation shall apply only to the partial tax computed on the taxable income reduced by 50 percent of the excess of net long-term capital gains over net short-term capital losses. Where, for purposes of computations under the income averaging provisions, section 1201 (b) is treated...

...limitation shall apply only to the partial tax computed on the taxable income reduced by 50 percent of the excess of net long-term capital gains over net short-term capital losses. Where, for purposes of computations under the income averaging provisions, section 1201(b) is treated...

...limitation shall apply only to the partial tax computed on the taxable income reduced by 50 percent of the excess of net long-term capital gains over net short-term capital losses. Where, for purposes of computations under the income averaging provisions, section 1201 (b) is treated...

...Basis at Tmx Rate» Applicable after June SO, ïSSo,— Compute a tentative partial tax by subtracting the excess of net longterm capital gains over net short-term capital losses from item 17 and using items 18 and 19. The tentative alternative tax will be the tentative partial...

...limitation shall apply only to the partial tax computed on the taxable income reduced by 50 percent of the excess of net long-term capital gains over net short-term capital losses. Where, for purposes of computations under the income averaging provisions, section 1201 (b) is treated...