Code of Federal Regulations: Containing a Codification of Documents of General Applicability and Future Effect as of December 31, 1948, with Ancillaries and IndexDivision of the Federal Register, the National Archives, 1973 Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries. |
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Common terms and phrases
accumulated profits adjusted basis allocated allowed amount apply attributable base company income capital gain chain or group class of stock computed controlled foreign corporation Corporation's December 31 deductions derived from sources determined developed country corporation dividends domestic corporation earnings and profits election estate investment trust excess profits taxes excluded first-tier corporation foreign base company foreign country foreign income tax foreign tax credit graph gross income income derived income from sources interest less developed country ment minimum distribution nonresident alien individual paid or accrued paragraph percent period poration Puerto Rico rata share real estate investment regulated investment company related person respect section 951 Statutory provisions stocks or securities subdivision subparagraph subpart F income subsection taxable income taxes deemed paid taxpayer tion trade or business trolled foreign corporation unit investment trust United States dollars United States property United States shareholder unused foreign tax Virgin Islands
Popular passages
Page 428 - If an exchange would be within the provisions of subsection (b) (1) to (5), inclusive, of this section if it were not for the fact that the property received in exchange consists not only of property permitted by such paragraph to be received without the recognition of gain or loss, but also of other property or money, then no loss from the exchange shall be recognized.
Page 43 - From the items of gross income specified in subsection (a) of this section there shall be deducted the expenses, losses, and other deductions properly apportioned or allocated thereto and a ratable part of any expenses, losses, or other deductions which can not definitely be allocated to some item or class of gross income.
Page 153 - States — (1) If 80 per centum or more of the gross income of such citizen or domestic corporation (computed without the benefit of this section) for the three-year period immediately preceding the close of the taxable year (or for such part of such period immediately preceding the close of such taxable year as may be applicable) was derived from sources within a possession of the United States...
Page 382 - The adjusted basis for determining the gain or loss from the sale or other disposition of property, whenever acquired, shall be the basis (determined under...
Page 113 - ... days of any year as having been paid from the accumulated profits of the preceding year or years (unless to his satisfaction shown otherwise), and in other respects treating dividends as having been paid from the most recently accumulated gains, profits, or earnings.
Page 110 - A domestic corporation may claim a credit for (i) the amount of any income, war profits, and excess profits taxes paid or accrued during the taxable year to any foreign country, or to any possession of the United States; and (ii) the taxes deemed to have been paid or accrued under section 902, 905(b), or 960.
Page 147 - Indies, and which satisfies the following conditions : (1) if 95 percent or more of the gross income of such domestic corporation for the 3-year period immediately preceding the close of the taxable year (or for such part of such period during which the corporation was in existence) was derived from sources...
Page 94 - In the case of a nonresident alien individual the deductions shall be allowed only if and to the extent that they are connected with income from sources within the United States; and the proper apportionment and allocation of the deductions with respect to sources of income within and without the United States...
Page 49 - States as provided in subsection (a) (2) of this section; (3) Compensation for labor or personal services performed without the United States; (4) Rentals or royalties from property located without the United States or from any interest in such property including rentals or royalties for the use of or for the privilege of using without the United States...
Page 242 - ... corporation, in that proportion which the value of the stock which such person so owns bears to the value of all the stock in such corporation.