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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 686
by United States. Board of Tax Appeals - 1934
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Codification of Internal Revenue Laws, ... Published Pursuant to Section ...

United States - 1938 - 628 pages
...made. (b) SOURCE OF 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. (c) DISTRIBUTIONS IN LIQUIDATION. Amounts...
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Comparison of the Revenue Acts of 1936 and 1938, Volume 36

United States, United States. Congress. House. Committee on Ways and Means - 1938 - 336 pages
...made. (b) SOURCE OF DISTRIBUTIONS. For the purposes of this Act every distribution is made out of earnings or profits to the extent thereof, and...recently accumulated earnings or profits. Any earnings or profit,-. accumulated, or increase in value of property accrued, before March 1, 1913, may be distributed...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 302

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1938
...for income tax purposes to cash or property, and under 115 (b) 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.2 Since...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 302

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1938
...for income tax purposes to cash or property, and under 115 (b) 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.2 Since...
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Reports of the Tax Court of the United States, Volume 5

United States. Tax Court - 1946
... (b) SOCHCB OP DISTRIBUTIONS. For the purposes of this chapter every distribution made out of earnings or profits to the extent thereof, and from the most recently cumulated earnings or profits. Any earnings or profits accumulated, or Increase In va! of property...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 336

United States. Supreme Court - 1949
...made. "(b) SOURCE OF DISTRIBUTIONS. For the purposes of this Act 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." 49 Stat. 1687. Opinion of the Court. 336 US the...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 336

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1949
...made. "(b) SOURCE OF DISTRIBUTIONS. For the purposes of this Act 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." 49 Stat. 1687. Opinion of the Court. 336 US the...
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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 336

United States. Supreme Court, John Chandler Bancroft Davis, Henry Putzel, Henry C. Lind, Frank D. Wagner - 1949
...made. "(b) SOURCE OF DISTRIBUTIONS. For the purposes of this Act every distribution is made out of earnings or profits to the extent thereof, and...value of property accrued, before March 1, 1913, may l>e distributed exempt from tax, after the earnings and profits accumulated after February 28, 1913,...
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The Code of Federal Regulations of the United States of America

1990
...312(1) and 1.312-10. (b) The general rule provided in section 316 that every distribution is made out of earnings or profits to the extent thereof and from...the most recently accumulated earnings or profits does not apply to: (1) The distribution, in pursuance of a plan of reorganization, by or on behalf...
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Code of Federal Regulations

2001
...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 (l). (i) XY and Z Corporations make their returns on the basis of the calendar year. On June...
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