 ... fair market value of such timber. Such fair market value shall be the fair market value as of the first day of the taxable year in which such timber Is cut, and shall thereafter be considered as the cost of such cut timber to the taxpayer for all...  Current Lumber Industry Problems: Fourth Interim Report - Page 34by United States. Congress. House. Select Committee on Small Business - 1944 - 37 pagesFull view - About this book
 | 1939 - 1522 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost Is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which Is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States - 1953 - 1744 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States. Congress. House. Committee on Ways and Means - 1943 - 1636 pages
...protect the Government, it seems necessary to provide that an election once made under this paragraph shall be adhered to in subsequent years, unless the Commissioner, on showing of undue hardship, gives the taxpayer the right to revoke his election. With respect to paragraph (2) the following points... | |
 | 1944 - 1344 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1944 - 336 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 350 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1946 - 428 pages
...cost of such cut timber^ to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States, Walter Elbert Barton - 1950 - 1126 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States. Congress. House. Committee on Ways and Means - 1953 - 1482 pages
...cost of such cut timber to the taxpayer for all purposes for which such cost is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
 | United States. Tax Court - 1954 - 1210 pages
...cost of such cut timber to the taxpayer for. all purposes for which such cost Is a necessary factor. If a taxpayer makes an election under this paragraph such election shall apply with respect to all timber which is owned by the taxpayer or which the taxpayer has a contract... | |
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