Treasury and Post Office Departments Appropriations, 1954: Hearings Before the Committee on Appropriations, United States Senate, Eighty-third Congress, First Session, on H.R. 5174 Making Appropriations for the Treasury and Post Office Departments for the Fiscal Year Ending June 30, 1954, Volumes 71-954

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U.S. Government Printing Office, 1953 - 363 pages
 

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Page 89 - ... a fraternal society, order, or association operating under the lodge system, but only if such contributions or gifts are to be used by such trustee or trustees, or by such fraternal society, order, or association, exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 84 - A corporation, trust, or community chest, fund, or foundation, created or organized in the United States or in any possession thereof or under the law of the United States, or of any State or Territory, or of the District of Columbia, or of any possession of the United States...
Page 90 - If the tax imposed by section 2101, or any estate, succession, legacy, or Inheritance taxes, are, either by the terms of the will, by the law of the jurisdiction under which the estate is administered, or by the law of the jurisdiction imposing the particular tax, payable in whole or in part out of the bequests, legacies, or devises otherwise deductible under this paragraph, then the amount deductible under this paragraph shall be the amount of such bequests, legacies, or devises reduced by the amount...
Page 81 - Service performed by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 86 - ... such creator or person through the ownership, directly or indirectly, of 50 percent or more of the total combined voting power of all classes of stock entitled to vote or 50 percent or more of the total value of shares of all classes of stock of the corporation.
Page 92 - ... transaction occurred, such deduction shall be disallowed the donor only if such donor or (if such donor is an individual) any member of his family (as defined in section 267 (c) (4)) was a party to such prohibited transaction. (f) DEFINITION. — For purposes of this section, the term "gift or bequest" means any gift, contribution, bequest, devise, legacy, or transfer.
Page 79 - United States— The amount of income, war-profits and excess-profits taxes imposed by foreign countries or possessions of the united States...
Page 85 - The net income of the estate or trust shall be computed in the same manner and on the same basis as in the case of an individual...
Page 77 - unrelated trade or business' means, in the case of any organization subject to the tax imposed by section 511, any trade or business the conduct of which is not substantially related (aside from the need of such organization for income or funds or the use it makes of the...
Page 94 - ... in the discretion of the grantor or of any person not having a substantial adverse interest in the disposition of such part of the income may be, applied to the payment of premiums upon policies of insurance on the life of the grantor [except policies of insurance irrevocably payable for the purposes and in the manner specified in section 23 (o), relating to the so-called "charitable contribution...

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