Statistics of Income, Supplemental Report: Foreign tax credit claimed on corporation income tax returnsU.S. Treasury Department, Internal Revenue Service, 1961 |
Common terms and phrases
accumulated profits AREA WHERE TAXES attach schedule business not allocable carryback Column consolidated return dividends dividends received domestic corporation earned filed fisheries foreign country foreign sources foreign tax credit FOREIGN TAXABLE INCOME foreign taxes paid forestry FORM 1118 Table geographic areas gross income Hemisphere trade corporation income from foreign Industrial division limitation is elected Manufacturing Mining Nature of business net income Netherlands Antilles Number of returns Oceania operating loss overall limitation paid or accrued per-country limitation percent Puerto Rico real estate related foreign corporation reported retail trade returns Net income RETURNS WITH SUPPORTING Rico and U. S. sanitary services Saudia Arabia special deduction subject to U. S. SUPPORTING STATEMENTS tax before foreign tax credit claimed taxes were paid taxpayer text for explanatory Thousand Thousand dollars tion total assets trade corporation deduction U. S. income tax U. S. Possessions U. S. tax Western Hemisphere trade Wholesale and retail
Popular passages
Page 3 - In the case of an alien resident of the United States, the amount of any such taxes paid or accrued during the taxable year to any foreign country, if the foreign country of which such alien resident is a citizen or subject, in imposing such taxes, allows a similar credit to citizens of the United States residing in such country; and (4) PARTNERSHIPS AND ESTATES.
Page 68 - If this section had not been enacted; and (2) A partial tax computed on the income of the life Insurance department determined without regard to any items of gross income or deductions not properly allocable to such department, at the rates and In the manner provided In subchapter L (sec. 801 and following) with respect to life Insurance companies.
Page 62 - In a case where a receiver, trustee in bankruptcy, or assignee, by order of a court of competent jurisdiction, by operation of law or otherwise, has possession of or holds title to all or substantially all the property or business of a corporation, whether or not...
Page 58 - Under penalties of perjury. I declare that I have examIned this return. InClUdIng accompanying schedules and statements. and to the best of my knowledge and belief. it is true, correct, and complete.
Page 64 - The making of a consolidated return shall be upon the condition that all corporations which at any time during the taxable year have been members of the affiliated group consent to all the consolidated return regulations prescribed under section 1502 prior to the last day prescribed by law for the filing of such return.
Page 67 - In the case of mutual savings banks, cooperative banks, and domestic building and loan Associations, there shall be allowed as deductions in computing taxable income amounts paid to, or credited to the accounts of, depositors or holders of accounts as dividends on their deposits or withdrawable accounts, if such amounts paid or credited are withdrawable on demand subject only to customary notice of intention to withdraw.