General Revenue Revision: Hearings Before the Committee on Ways and Means, House of Representatives, Eighty-fifth Congress, Second Session, on Topics Pertaining to the General Revision of the Internal Revenue Code ...
U.S. Government Printing Office, 1958 - Taxation - 3588 pages
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adding additional adjustment allowed amended amount appear apply assets Association bank beginning believe bill billion burden capital Chairman closely committee companies competitive concerns Congress continue corporation cost determined earnings economy effect election employee enterprise equipment estate tax excess exemption expansion fact Federal finance firms give given Government growth House important income tax increase independent individual industry inserting installment interest Internal Revenue Code inventory investment larger laws less limited loss manufacturing means necessary operation paid partnerships payment percent period permit person position present problem production profits proposals question rates reason receivable recommendations record reduction relating Representatives respect result Retail securities small business smaller statement structure subsection tax rates tax relief taxable income taxation taxpayer thank thereof tion trade United
Page 230 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities ; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 27 - GENERAL RULE. — In the case of the acquisition of assets of a corporation by another corporation — (1) in a distribution to such other corporation to which section 332 (relating to liquidations of subsidiaries) applies, except in a case in which the basis of the assets distributed is determined under section 334 (b) (2...
Page 256 - As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands, and the Republic is destroyed.
Page 19 - ... exchange to which section 355 (or so much of section 356 as relates to section 355...
Page 15 - For purposes of the tax imposed by section 2001, the value of the taxable estate shall be determined by deducting from the value of the gross estate the exemption and deductions provided for in this part.
Page 15 - ... from the date fixed for payment thereof. Such extension may exceed 6 months in the case of a taxpayer who is abroad. (2) Estate tax. If the Secretary or his delegate finds...
Page 15 - ... (i) Defense production needs and the policy of Congress require that subcontracting, particularly to small business concerns, be used to the maximum extent practicable. Although a contractor who subcontracts work may not reasonably expect to be allowed as large a profit thereon as if it had done the work itself...
Page 702 - Treat those remaining on hand at the close of the taxable year as being : First, those included in the opening Inventory of the taxable year (In the order of acquisition) to the extent thereof...
Page 30 - ... prorated to any installment the date for payment of which has arrived shall be paid upon notice and demand from the Secretary or his delegate.