 | United States. Internal Revenue Service - 1924 - 396 pages
...be computed, collected, and paid upon the same basis and in the same manner and subject to the same provisions of law, including penalties, as that tax....are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | United States. Congress. Senate. Committee on Finance - 1924 - 44 pages
...pure investment companies which reinvest their entire net income. The present bill therefore makes the fact that any corporation is a mere " holding or investment company " prima facie evidence of the purpose to escape the surtax. Section 221: Subdivision (a) of this section... | |
 | John F. Sherwood - 1925 - 206 pages
...be computed, collected, and paid upon the same basis and in the same manner and subject to the same provisions of law, including penalties, as that tax....are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Irving Bank-Columbia Trust Company - 1925 - 152 pages
...be computed, collected, and paid upon the same basis and in the same manner and subject to the same provisions of law, including penalties, as that tax....are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Walter Elbert Barton, United States, Carroll Wright Browning - 1925 - 580 pages
...same manner and subject to the same provisions of law, including penalties, as that tax. SEC. 220. (b) The fact that any corporation is a mere holding...are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. SEC. 220. (c)... | |
 | National Tax Association - 1926 - 622 pages
...be computed, collected, and paid upon the same basis and in the same manner and subject to the same provisions of law, including penalties, as that tax....are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Eric Louis Kohler - 1927 - 618 pages
...be computed, collected, and paid upon the same basis and in the same manner and subject to the same provisions of law, including penalties, as that tax....are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (c) When requested... | |
 | Harrison B. Spaulding - 1927 - 336 pages
...subject to further tax when they are later actually distributed. 3 The law makes the fact that the corporation is a mere holding or investment company,...are permitted to accumulate beyond the reasonable needs of the business, prima facie evidence of a purpose to escape the surtax. 1 It should also be... | |
 | United States. Congress. Joint Committee on Internal Revenue Taxation - 1927 - 414 pages
...purpose of preventing the imposition of the surtax upon its stockholders. It is further provided that " the fact that any corporation is a mere holding or investment company, or rhat the gains and profits are permitted to accumulate beyond the reasonable needs of the business,... | |
 | United States - 1928 - 268 pages
...be computed, collected, and paid upon the same basis and in the same manner and subject to the same provisions of law, including penalties, as that tax....are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. (d) As used... | |
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The fact that any corporation is a mere holding or investment company, or that the gains or profits are permitted to accumulate beyond the reasonable needs of the business, shall be prima facie evidence of a purpose to escape the surtax. 
