Enterprise Zones--1982: Hearing Before the Subcommittee on Savings, Pensions, and Investment Policy of the Committee on Finance, United States Senate, Ninety-seventh Congress, Second Session, on S. 1829 and S. 2298, April 21, 1982

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Page 478 - foreigntrade zones pursuant to an Act entitled "To provide for the establishment, operation, and maintenance of foreign-trade zones in ports of entry of the United States, to expedite and encourage foreign commerce, and for other purposes", approved June 18, 1934, the Foreign-Trade Zone Board shall consider on a priority basis and
Page 64 - (A) the qualified wages for any taxable year shall be apportioned between the estate or trust and the beneficiaries on the basis of the income of the estate or trust allocable to each, and . "(B) any beneficiary to whom any qualified wages have been apportioned under
Page 74 - in the case of property described in clause (i), there shall be taken into account only that portion of the basis which is properly attributable to construction or erection after designation. "(4) Adjustment to basis.— "(A) In general.—For purposes of this subtitle, if an enterprise zone credit is allowable under this section for any qualified enterprise zone
Page 63 - (as defined in section 1371)— "(A) the qualified wages for each taxable year shall be apportioned pro rata among the persons who are shareholders of such corporation on the last day of such taxable year, and "(B) any person to whom any qualified wages have been apportioned under
Page 49 - (A) 'more than 50 percent' shall be substituted for 'at least 80 percent' each place it appears in section 1563(a)(1), and "(B) the determination shall be made without regard to subsections (a)(4) and (e)(3)(C) of section 1563.
Page 63 - (ii) by reason of a mere change in the form of conducting the trade or business of the taxpayer, if the employee continues to be employed in such trade or business and the taxpayer retains a substantial interest in such trade or business. "(3) Special rule.—Any increase in tax under paragraph (1) shall not be treated as tax imposed by this
Page 55 - SSI recipient' means any individual who is certified by the designated local agency as receiving supplemental security income benefits under title XVI of the Social Security Act (including supplemental security income benefits of the type described in section 1616 of such Act or section
Page 46 - Subchapter s corporations.—In case of an electing small business corporation (as defined in section 1371)— "(A) the qualified wages for each taxable year shall be apportioned pro rata among the persons who are shareholders of such corporation on the last day of such taxable year, and "(B) any person to whom any qualified wages have been apportioned under
Page 60 - (A) all employees of trades or businesses (whether or not incorporated) which are under common control shall be treated as employed by a single employer, and "(B) the credit (if any) allowable by section
Page 77 - or otherwise ceases to be enterprise zone property (other than by the expiration or revocation of the designation as an enterprise zone), the tax under this chapter for such taxable year shall be increased by the amount described in subparagraph (ii).

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