Statistics of Income

Front Cover
U.S. Government Printing Office, 1955
 

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Page 212 - capital assets' means property held by the taxpayer (whether or not connected with his trade or business), but does not include "(A) stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business...
Page 213 - All Interest paid or accrued within the taxable year on Indebtedness, except on Indebtedness Incurred or continued to purchase or carry obligations (other than obligations of the United States Issued after September 24. 1917, and originally subscribed for by the taxpayer) the Interest upon which Is wholly exempt from the taxes Imposed by this chapter.
Page 14 - A corporation entitled to the benefits of section 931, by reason of receiving a large percentage of its gross income from sources within a possession of the United States...
Page 173 - 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...
Page 201 - The cost of incidental repairs which neither materially add to the value of the property nor appreciably prolong its life...
Page 254 - All interest paid or accrued within the taxable year on indebtedness, except on indebtedness incurred or continued to purchase or carry obligations (other than obligations of the United States issued after September 24, 1917, and originally subscribed for by the taxpayer) the interest upon which is wholly exempt from the taxes imposed by this title.
Page 187 - ... property paid in for stock, or as paid-in surplus, or as a contribution to capital.
Page 264 - For the purposes of this section, a domestic corporation which owns a majority of the voting stock of a foreign corporation from which it receives dividends...
Page 233 - ... of the total value of shares of all classes of stock, of each of the corporations (except the common parent corporation) is owned directly by one or more of the other corporations...
Page 264 - 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 credit is taken, which the taxpayer's net income from sources within such country bears to his entire net income for the same taxable year...

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