Revenue Act of 1943: Hearing Before the Committee on Finance, United States Senate, Seventy-eighth Congress, First Session, on H.R. 3687, an Act to Provide Revenue, and for Other Purposes. Revised. November 29, 30, December 1, 2, 3, 4, 6, and 15, 1943...U.S. Government Printing Office, 1944 - 1173 pages |
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Common terms and phrases
20 percent additional adjustment allowed ALVORD amendment amount apply average base period basis burden cents CHAIRMAN companies computed Congress consideration contractor contracts corporations cost deduction depletion dividends dollars earnings effect estate tax estimated excess excess-profits credit excess-profits tax excise taxes exemption fact Finance gift tax Government House bill income tax increase industry Internal Revenue Code invested capital loss manufacturers margarine Means Committee ment million National natural gas net income normal tax operation paid payments percentage post-war postal potash present law production profits tax provisions railroads reason reduced refund renegotiation represent result retail Revenue Act sales tax Secretary MORGENTHAU Senator BARKLEY Senator CLARK Senator DAVIS Senator VANDENBERG Senator WALSH statement surtax tax law tax rates taxable taxation taxpayers theaters third-class timber tion Treasury Department Treasury proposal United utilities Victory tax War Production Board
Popular passages
Page 143 - ... an obligation of the United States or any of its possessions, or of a State or Territory, or any political subdivision thereof, or of the District of Columbia, issued on or after March 1, 1941, on a discount basis and payable without interest at a fixed maturity date not exceeding one year from the date of issue...
Page 168 - In the case of a taxpayer engaged in a trade or business in which both personal services and capital are material income-producing factors...
Page 146 - capital assets" means property held by the taxpayer (whether or not connected with his trade or business), but does not include 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 424 - renegotiation," for the purposes of section 3806 of the Internal Revenue Code, as amended, is not limited to a renegotiation within the meaning of section 403 of the Sixth Supplemental National Defense Appropriation Act, 1942, as amended, supra (which section is cited as the Renegotiation Act). It includes an agreement in writing made in respect of one or more Government contracts or subcontracts thereunder...
Page 181 - ... pm, of the same day.) AFTERNOON SESSION The committee reconvened at 2 : 30 pm, upon the expiration of the recess. The CHAIRMAN. The committee will come to order.
Page 152 - ... 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, or property, used in the trade or business...
Page 751 - ... (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 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...
Page 469 - If (1) any person or persons acquire, on or after October 8, 1940, directly or indirectly, control of a corporation, or, (2) any corporation acquires...
Page 418 - Any purchase order or agreement to perform all or any part of the work, or to make or furnish any article, required for the performance of any other contract or subcontract...
Page 164 - Every person liable to any tax imposed by this Act, or for the collection thereof, shall keep such records, render under oath such statements, make such returns, and comply with such rules and regulations, as the Commissioner, with the approval of the Secretary, may from time to time prescribe.