The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1970 The Code of federal regulations is the codification of the general and permanent rules published in the Federal register by the executive departments and agencies of the federal government. |
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Common terms and phrases
adjusted basis affiliated group apply April 15 attributable base period beginning after December calendar capital asset capital gain carryback common parent component member computed consent consolidated net operating consolidated return controlled foreign corporation controlled group December 31 deduction described in section determined distribution dividends earnings and profits electing small business election under section Example excess fair market value filed foreign corporation gain or loss graph gross income included income tax individual Internal Revenue Code January joint return ment nonresident alien notice of allocation operating loss ordinary income paragraph partnership payment percent person poration portion prior taxable provisions of section pursuant refund regulations relating respect rules sale or exchange separate return shareholder small business corporation spect Statutory provisions subdivision subparagraph subsidiary taken into account tax imposed tax liability taxable income taxable year beginning taxable year ending taxpayer tier corporation tion trade or business treated
Popular passages
Page 324 - 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 525 - Options. If any person has an option to acquire stock, such stock shall be considered as owned by such person. For purposes of this paragraph, an option to acquire such an option, and each one of a series of such options, shall be considered as an option to acquire such stock.
Page 86 - Personal property, or (B) Other property (not including a building or its structural components) but only if such other property is tangible and has an adjusted basis in which there are reflected adjustments described in paragraph (2) for a period In which such property (or other property...
Page 367 - ... to pay the interest without deduction for any tax which the obligor may be required or permitted to pay thereon, or to retain therefrom under any law of the United States...
Page 314 - NET EARNINGS FROM SELF-EMPLOYMENT. — The term "net earnings from self-employment" means the gross income derived by an individual from any trade or business carried on by such individual, less the deductions allowed by this subtitle which are attributable to such trade or business, plus his distributive share (whether or not distributed) of...
Page 79 - 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. The supplying of maid service, for example, constitutes such...
Page 33 - Stat. 197)), there shall be included the period for which he held the stock or securities in the distributing corporation before the receipt of the stock or securities on such distribution. (d...
Page 32 - If under the provisions of section 113, the property received has, for the purpose of determining gain or loss from a sale or exchange, the same basis in whole or In part In his hands as the property exchanged.
Page 382 - ... (b) Regulations. The Commissioner, with the approval of the Secretary, shall prescribe such regulations as he may deem necessary in order that the tax liability of any affiliated group of corporations making a consolidated return and of each corporation in the group, both during and after the period of affiliation, may be returned, determined, computed, assessed, collected, and adjusted, in such manner as clearly to reflect the excess profits tax liability and the various factors necessary for...
Page 29 - For purposes of this subtitle, the term "capital asset" means property held by the taxpayer (whether or not connected with his trade or business), but does not include — ( 1 ) 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...