Tax Reform Act of 1969: Report to Accompany H.R. 13270, Together with Separate and Individual Views
U.S. Government Printing Office, 1969 - 352 pages
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accumulated acquired activities addition allowed amount apply assets average banks basis beginning believes beneficiary benefits binding bonds capital capital gains carried charitable committee amendments computed Congress considered construction continue contract contributions corporation cost Court deduction depletion depreciation determining distribution dividends earnings effect employee equipment example excess exempt existing expenditures expenses extent facility Finance foreign foundation gains gift gross holding House bill income tax increase individual interest investment investment credit issue limitation loan loss ment method million operating ordinary income organization paid payments percent percentage period permitted person preferred present law prior production provision purchase qualified reasons received reduced reserves respect result Revenue rule Service specified standard substantial taxable taxpayer tion transfer treated treatment trust United
Page 48 - ... no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation, and which does not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of any candidate for public office.
Page 43 - Unrelated, trade or business — (a) General rule. The term "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 profits derived) to the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption...
Page 148 - Percentage depletion is not grantedm the case of soil, sod, dirt, turf, water, or mosses or minerals from sea water, the air, or similar inexhaustible sources.
Page 178 - A transfer of a franchise, trademark, or trade name shall not be treated as a sale or exchange of a capital asset if the transferor retains any significant power, right, or continuing interest with respect to the subject matter of the franchise, trademark, or trade name.
Page 122 - Section 368 (c), and it is established to the satisfaction of the Secretary or his delegate that the retention by the distributing corporation of stock (or stock and securities) in the controlled corporation was not in pursuance of a plan having as one of its principal purposes the avoidance of Federal income tax...
Page 270 - A tax-sheltered annuity; and 4. A plan established for its employees by the United States, by a state or political subdivision, or by any agency or instrumentality of the United States or a state or political subdivision, but not eligible state Section 457 plans. Form W-2. If your employer checks the "Pension plan...
Page 31 - ... (C) furnishing of goods, services, or facilities between a plan and a disqualified person; (D) transfer to, or use by or for the benefit of, a disqualified person of the income or assets of a plan...
Page 43 - ... includes any activity which is carried on for the production of income from the sale of goods or the performance of services. For purposes of the preceding sentence, an activity does not lose identity as a trade or business merely because it is carried on within a larger aggregate of similar activities or within a larger complex of other endeavors which may, or may not, be related to the exempt purposes of the organization. Where an activity carried on for profit constitutes an unrelated trade...
Page 212 - September 12, 1966, to another person in a transaction as a result of which the basis of such property in the hands of the transferee is determined by reference to the basis in the hands of the transferor...