Revenue Act of 1963: Hearings Before the Committee on Finance, United States Senate, Eighty-eighth Congress, First Session, on H.R. 8363, an Act to Amend the Internal Revenue Code of 1954 to Reduce Individual and Corporate Income Taxes to Make Certain Structural Changes with Respect to the Income Tax, and for Other Purposes ...
U.S. Government Printing Office, 1968
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
additional adjusted allowed amendment American amount apply assets Association average base basis believe benefits bill capital capital gains CHAIRMAN committee Congress continue corporation cost deduction depletion depreciation dividends dollars earnings economy effect employees exemption existing expenditures expenses fact Federal Finance foreign funds gains Government gross income growth House incentive income tax increase individual industry interest Internal Internal Revenue Code investment less limited loss Means ment million operating paid payments percent period personal holding company present problem production profits proposed provisions purchase question reason received represent reserves respect result Revenue SCHLENGER securities Senator DOUGLAS shares statement stock options substantial suggested tax reduction taxable taxation taxpayer tion Treasury treatment United
Page 2434 - ... taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Page 2244 - Deductions from gross income.] (In computing net income there shall be allowed as deductions:] (b) Interest. — All Interest paid or accrued within the taxable year on Indebtedness, except on Indebtedness Incurred or continued to purchase or carry obligations (other than obligations of the United States issued after September 24. 1917, and originally subscribed for by the taxpayer) the Interest upon which Is wholly exempt from the taxes imposed by this title.
Page 2316 - Except as provided in subsection (b), there shall be allowed as a deduction in computing taxable income all expenditures paid or incurred during the taxable year for the development of a mine or other natural deposit (other than an oil or gas well) if paid or incurred after the existence of ores or minerals in commercially marketable quantities has been disclosed.
Page 2316 - ... expenditures paid or incurred. In no case shall this section apply with respect to amounts paid or incurred for the purpose of ascertaining the existence, location, extent, or quality of any deposit of oil or gas.
Page 2686 - ... in accordance with regulations to be adopted by the secretary of the treasury, and the treasurer of the United States is hereby authorized to receive the same. All sums of money paid into the treasury under this section shall be set apart and credited to a fund to be known as the "Debris Fund...
Page 2443 - ... (e) Capital loss carry-over. (1) Method of computation. If for any taxable year beginning after December 31, 1941, the taxpayer has a net capital loss, the amount thereof shall be a short-term capital loss in each of the five succeeding taxable years to the extent that such amount exceeds the total of any net capital gains of any taxable years intervening between the taxable year in which the net capital loss arose and such succeeding taxable year.
Page 2244 - ... (b) Interest. — All interest paid or accrued within the taxable year on indebtedness, except on indebtedness incurred or continued to purchase or carry obligations or securities (other than obligations of the United States issued after September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is wholly exempt from taxation under this title.
Page 2447 - ... (3) losses of property not connected with a trade or business, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft...
Page 2686 - This certifies that there is on deposit in the Treasury of the United States of America one dollar in silver payable to the bearer on demand.