 The amount of the credit taken under this section shall be subject to each of the following limitations : (1) The amount of the credit in respect of the tax paid or accrued to any country shall not exceed the same proportion of the tax against which such...  Statistics of Income for ... - Page 3421954Full view - About this book
 | United States. Court of Claims, Audrey Bernhardt - 1957 - 1028 pages
...the foreign tax credit allowable under ยง 131 : (2) The total amount of the credit shall not exceed the same proportion of the tax against which such credit is taken, which the taxpayer's net income from sources without the United States bears to his entire net income, in the case of a... | |
 | Philippines - 1986 - 492 pages
...: (A) The amount of the credit in respect to the tax paid or acrued to any country shall not exceed the same proportion of the tax against which such credit is taken, which the taxpayer's taxable income from sources within such country under this Title bears to his entire taxable income... | |
 | United States - 1921 - 642 pages
...of section 262 ; and in no other case shall the amount of credit taken under this subdivision exceed the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, warprofits and excess-profits taxes imposed... | |
 | National City Company - 1921 - 104 pages
...of section 262; and in no other case shall the amount of credit taken under this subdivision exceed the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, war-profits, and excess profits taxes imposed... | |
 | Emerson Emanuel Rossmoore - 1922 - 592 pages
...limits prescribed in paragraph 5 of section 222 (a). In other words such a credit shall not exceed '' the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, war-profits and excess-profits taxes imposed... | |
 | United States - 1922 - 756 pages
...of section 262; and in no other case shall the amount of credit taken under this subdivision exceed the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, war-profits and excess-profits taxes imposed... | |
 | United States. Congress. House. Committee on Ways and Means - 1923 - 256 pages
...COMPARISON OF THE REVENUE ACTS OF 1918 AND 1921. Act of 1921. Act of H18. under this subdivision exceed the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, war-profits and excessprofits taxes imposed... | |
 | Irving Bank. Columbia Trust Company - 1923 - 148 pages
...of section 262 ; and in no other case shall the amount of credit taken under this subdivision exceed the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, war-profits and excess-profits taxes imposed... | |
 | Eric Louis Kohler - 1924 - 514 pages
...of section 262 ; and in no other case shall the amount of credit taken under this subdivision exceed the same proportion of the tax, against which such credit is taken, which the taxpayer's net income (computed without deduction for any income, war-profits and excess-profits taxes imposed... | |
 | 1927 - 920 pages
...any foreign country. A limitation is imposed on the amount of this credit. In no case may it exceed the same proportion of the tax against which such credit is taken which the corporation's net income from sources without the United States bears to its entire net income for... | |
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