Legislative History of H.R. 10650, 87th Congress: The Revenue Act of 1962, Public Law 87-834, Ninetieth Congress, First Session, Part 1
U.S. Government Printing Office, 1967 - 4558 pages
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
adding addition adjusted allocation allowed amended amount apply assets associations attributable banks basis beginning capital chapter claimed committee computing controlled foreign corporation cooperative cost December 31 deduction defined delegate depreciation described determined distribution dividends domestic draft earnings effect election equal exceed excess exchange exclusion exempt expenditures expenses extent filed foreign corporation gain gross income imposed income tax increase individual insurance companies interest Internal Revenue Code investment less limitation loan loss means million mutual operating Opposes organization paid paragraph patron patronage dividends payments percent period person preceding prescribed present president profits proposal qualified reason received recommended reduced referred regulations relating reported reserve respect result returns rules savings scrip Secretary share shareholder sources subsection Table taken taxable taxation taxpayer term thereof tion trade Treasury treated treatment trust United withholding
Page 8 - Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1954.
Page A-35 - ... section 38 property" means— (A) tangible personal property, or (B) other tangible property (not including a building and its structural components) but only if such property— (i) is used as an integral part of manufacturing, production, or extraction or of furnishing transportation, communications, electrical energy, gas, water, or sewage disposal services, or...
Page 110 - Election — (1) In general. The election under this section for any taxable year shall be made within the time prescribed by law (Including extensions thereof) for filing the return for such taxable year. The election shall be made In such manner as the Secretary or his delegate may by regulations prescribe.
Page 92 - ... 50 percent of the excess of net long-term capital gains over net short-term capital losses.
Page 83 - If the property was acquired by bequest, devise, or inheritance, or by the decedent's estate from the decedent, the basis shall be the fair market value of such property at the time of such acquisition.
Page 71 - States shareholder in the Commonwealth of Puerto Rico or a possession of the United States...
Page 83 - ... (2) General rule. — If, during the taxable year, the recognized gains upon sales or exchanges of property used in the trade or business, plus the recognized gains from the compulsory or involuntary conversion (as a result of destruction in whole or in part, theft or seizure, or an exercise of the power of requisition or condemnation or the threat or imminence thereof...
Page A-17 - ... failure unless it is shown that the failure is due to reasonable cause.
Page 292 - Capital losses to the extent provided in subchapter P (sec. 1201 and following, relating to capital gains and losses) plus losses from capital assets sold or exchanged in order to obtain funds to meet abnormal insurance losses and to provide for the payment of dividends and similar distributions to policyholders.
Page 78 - In the case of any other disposition, the fair market value of such property, exceeds the adjusted basis of such property shall be treated as gain from the sale or exchange of property which is neither a capital asset nor property described in section 1281.