The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1969 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 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 defined in section 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 income tax individual Internal Revenue Code 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 spouse 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 338 - 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 536 - 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 356 - Service performed by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 348 - The performance of service by a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry or by a member of a religious order in the exercise of duties required by such order...
Page 30 - ... (3) a copyright, a literary, musical, or artistic composition, or similar property, held by (A) a taxpayer whose personal efforts created such property, or (B) a taxpayer in whose hands the basis of such property is determined, for the purpose of determining gain from a sale or exchange, in whole or in part by reference to the basis of such property in the hands of the person whose personal efforts created such property...
Page 40 - 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...
Page 50 - Such term also includes livestock, regardless of age, held by the taxpayer for draft, breeding, or dairy purposes, and held by him for 12 months or more from the date of acquisition. Such term does not include poultry. (4) UNHARVESTED CROP. — In the case of an unharvested crop on land used in the trade or business...
Page 507 - ... unless such transferee corporation shall establish by the clear preponderance of the evidence that the securing of such exemption or credit was not a major purpose of such transfer.
Page 393 - It is a member of the affiliated group. "(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...
Page 38 - Such term also Includes livestock, regardless of age, held by the taxpayer for draft, breeding, or dairy purposes, and held by him for 12 months or more from the date of acquisition. Such term does not Include poultry. (4) Unharvested crop. In the case of an unharvested crop on land used in the trade or business...