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, 1964 |
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Common terms and phrases
affiliated group amended by T.D. amounts paid apply attributable basis beginning after December calendar carryback computed consent consolidated return controlled foreign corporation corporation's December 31 deduction defined in section described in section determining distributive share earnings from self-employment election employer identification Example exempt foreign country furnished gift tax graph gross income included income derived income from sources income tax individual Internal Revenue Code investments in less less developed countries liability ment nonqualified written notices nonresident alien notice of allocation ordinary income outstanding stock owner or tenant paragraph partnership patron patronage dividend patronage occurring payment period percent poration prescribed provisions of section Puerto Rico purposes qualified check qualified investments qualified written notices relating respect shareholder spect Stat statement Statutory provisions subchapter subdivision subparagraph subsection taken into account taxable income taxable year ending taxable years beginning taxpayer tion trade or business United States person unused credit Virgin Islands
Popular passages
Page 11 - States; and (2) If, in the case of such corporation, 50 per centum or more of its gross income (computed without the benefit of this section) for such period or such part thereof was derived from the active conduct of a trade or business...
Page 44 - Payments for the use or occupancy of rooms or other space where services are also rendered to the occupant, such as for the use or occupancy of rooms or other quarters in hotels, boarding houses, or apartment houses furnishing hotel services, or in tourist camps or tourist homes, or payments for the use or occupancy of space in parking lots, warehouses, or storage garages, do not constitute rentals from real estate; consequently, such payments are included in determining net earnings from self -employment.
Page 31 - An amount equal to— (A) The tax for the taxable year computed without such deduction, minus (B) The decrease In tax under this chapter (or the corresponding provisions of prior revenue laws) for the prior taxable year (or years...
Page 45 - If property (as a result of its 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 17 - In other property, (1) out of its earnings or profits accumulated after February 28, 1913, or (2) out of the earnings or profits of the taxable year (computed as of the close of the taxable year without diminution by reason of any distributions made during the taxable year), without regard to the amount of the earnings and profits at the time the distribution was made.
Page 50 - 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 44 - Generally, services are considered rendered to the occupant if they are primarily for his convenience and are other than those usually or customarily rendered in connection with the rental of rooms or other space for occupancy only.
Page 78 - To constitute receipt in such a case the income must be credited or set apart to the taxpayer without any substantial limitation or restriction as to the time or manner of payment or condition upon which payment is to be made, and must be made available to him so that it may be drawn at any time, and its receipt brought within his own control and disposition.
Page 61 - ... by a nonresident alien individual who is temporarily present in the United States as a nonimmigrant under subparagraph (F) or (J) of section 101 (a) (15) of the Immigration and Nationality Act, as amended...
Page 31 - A taxpayer who had title to the property at the time of the transaction and from whom, mediately or immediately, the taxpayer with respect to whom the determination is made derived title, if the basis of the property in the hands of the taxpayer with respect to whom the determination is made is determined under section 1015(a) (relating to the basis of property acquired by gift) . (C) Prior erroneous treatment.