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" Any earnings or profits accumulated, or increase in value of property accrued, before March 1, 1913, may be distributed exempt from tax, after the earnings and profits accumulated after February 28, 1913, have been distributed... "
Reports of the U.S. Board of Tax Appeals - Page 692
by United States. Board of Tax Appeals - 1934
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Internal Revenue Bulletin

United States. Internal Revenue Service - 1955
... "(b) SOURCE OF DISTRIBUTIONS. "For the purposes of this chapter every distribution Is made out of earnings or profits to the extent thereof, and...the most recently accumulated earnings or profits. "(J) VALUATION OF DIVIUKND. "If the whole or any part of a dividend Is paid to a shareholder...
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The Laws of Wisconsin, Volume 1

Wisconsin - 1955
...made. Except as otherwise provided in this chapter, every distribution is made out of earnings and profits to the extent thereof, and from the most recently accumulated earnings and profits. To the extent that any distribution is, under any provision of this chapter, treated as...
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Summary of the New Provisions of the Internal Revenue Code of 1954 (H.R ...

United States. Congress. Joint Committee on Internal Revenue Taxation - 1955 - 140 pages
...the taxable year. There is a general presumption that every distribution is made out of earnings and profits to the extent thereof and from the most recently accumulated earnings and profits. If the distribution is made in property other than money, the amount of the distribution...
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Wisconsin Session Laws, Volume 1

Wisconsin - 1955
...made. Except as otherwise provided in this chapter, every distribution is made out of earnings and profits to the extent thereof, and from the most recently accumulated earnings and profits. To the extent that any distribution is, under any provision of this chapter, treated as...
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Internal Revenue Code of 1954, as Amended and in Force on January 3, 1961

United States, United States. Congress. Joint Committee on Internal Revenue Taxation - 1961 - 1148 pages
...made. Except as otherwise provided in this subtitle, every distribution is made out of earnings and # Iګ; ڮ DQ 8R I U E e e p 7TAwu9 'j q5k % =I \ R! M 7 A and profits. To the extent that any distribution is, under any provision of this subchapter, treated...
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Internal Revenue Bulletin

United States. Internal Revenue Service - 1962
...none of the accumulated earnings and profits, or deficits, consist of earnings and profits or deficits accumulated, or increase in value of property accrued, before March 1, 1913. Example (1). (i) X, Y, and Z Corporations make their returns on the basis of the calendar year. On...
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Reports of the Tax Court of the United States, Volume 2

United States. Tax Court - 1943
...year. (b) SOURCE OP DISTRIBUTIONS. For the purposes of this chapter every distribution is made out of earnings or profits to the extent thereof, and...distribution shall be applied against and reduce the adjusted basis of the stock provided in section 113. The preceding sentence shall not apply to a distribution...
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Reports of the Tax Court of the United States, Volume 13

United States. Tax Court - 1950
...its shareholders * * * out of its earnings or profits accumulated after February 28, 1913," and that "any earnings or profits accumulated, or increase...accumulated after February 28, 1913, have been distributed," Congress drew a line at March 1, 1913, not only as to earnings and profits accumulated or existing...
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Reports of the Tax Court of the United States, Volume 5

United States. Tax Court - 1945
...under section 115 (b) * * * [the distribution of preferred stock] was presumed to have been made "out of earnings or profits to the extent thereof, and...the most recently accumulated earnings or profits." In no sense, therefore, can it be said to have been "held" by Gowran prior to Its declaration. Since...
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Reports of the Tax Court of the United States, Volume 30

United States. Tax Court - 1959
...Section 115 (b) of the Internal Revenue Code of 1939 provides that "every distribution is made out of earnings or profits to the extent thereof and from the most recently accumulated earnings and profits." At the time of each redemption the corporation had earnings and profits available for...
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