Regulations 97 Relating to Consolidated Returns of Affiliated Railroad Corporations: Prescribed Under Section 141(b) of the Revenue Act of 1936 (applicable to Taxable Years Beginning After December 31, 1935)U.S. Government Printing Office, 1936 - 35 pages |
Common terms and phrases
16 Consolidated adjusted net income affiliated corporations aggregate basis Allocation allowable losses applicable article 34 assessment basis for determining becomes a member beginning after December Break Affiliation carrier by railroad Commissioner common carrier common parent corporation consolidated dividends paid consolidated net income consolidated return period contracts restricting dividends corporation ceases corporation has ceased Credit for Foreign December 22 December 31 deficiency letter determined in accordance determining gain distraint distribution dividends paid credit domestic corporation filed by common foreign corporation gain or loss included in consolidated Intercompany Transactions Limitation on allowable liquidation Member of Group method of accounting normal-tax net income offer in compromise paragraph Parent__ Periods Not Included return required return_ Revenue Act S₂ Sale of intercompany Sale of Stock section 141 selling corporation separate return solidated return subsequent taxable subsidiary has left surtax tax liability taxable year 1929 taxable year beginning terminated thereof tion undistributed net income Waivers
Popular passages
Page 11 - The liability, at law or in equity, of a transferee of property of a taxpayer, in respect of the tax (including interest, additional amounts, and additions to the tax provided by law) imposed upon the taxpayer by this title. (2) The liability of a fiduciary under section 3467 of the Revised Statutes in respect of the payment of any such tax from the estate of the taxpayer.
Page 24 - For purposes of subsection (a), a distribution shall be considered to be in complete liquidation only if — (1) The corporation receiving such property was, on the date of the adoption of the plan of liquidation, and has continued to be at all times until the receipt of the property, the owner of stock (in such other corporation...
Page 10 - ... a member of another affiliated group which makes a consolidated return for such period, then in such consolidated return). If a corporation ceases to be a member of the affiliated group during the taxable year of the group, its income for the period after the time when it ceased to be a member of the group...
Page 16 - In the case of an affiliated group which makes, or is required to make, a consolidated return, see paragraph (a) of § 1.1502-30.
Page 8 - One of such forms, as prepared by each subsidiary shall be attached to the consolidated return, as a part thereof; and the other shall be filed, at or before the time the consolidated return...
Page 23 - ... but as being in amplification of and not in substitution for such provisions: subject, however, to this qualification: that to the extent that the transfers of assets referred to in paragraph (a) of this section...
Page 26 - ... by another corporation which during any part of such period was a member of the same group, shall be determined, and the extent to which such gain or loss shall be recognized...
Page 12 - ... (whether of the original tax or of a deficiency) will be made in the name of each such corporation (but a failure to include the name of any such corporation will not affect the validity of the notice of deficiency or the assessment as to the other corporations...
Page 6 - The privilege of making a consolidated return under section 1502 for any taxable year of an affiliated group must be exercised at the time of making the return of the common parent corporation for such year.
Page 9 - ... for its entire taxable year (excluding any portion of such year during which its income is included in the consolidated return of another affiliated group) and the income of each subsidiary from the time it became a member of the affiliated group.