President's 1961 Tax Recommendations: Hearings Before the Committee on Ways and Means, House of Representatives, Eighty-seventh Congress, First Session, on the Tax Recommendations of the President Contained in His Message Transmitted to the Congress, April 20, 1961, Bagian 3
U.S. Government Printing Office, 1961 - 3613 halaman
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Halaman 2219 - Columbia, shall be subject to pay annually a special excise tax with respect to the carrying on or doing business by such corporation, joint stock company or association, or insurance company, equivalent to one per centum upon the entire net income over and above five thousand dollars received by it from all sources during such year...
Halaman 2215 - Whether the corporation operates in the name and for the account of the principal, binds the principal by its actions, transmits money received to the principal, and whether receipt of income is attributable to the services of employees of the principal and to assets belonging to the principal are some of the relevant considerations in determining whether a true agency exists.
Halaman 1859 - The committee will stand in recess until 2 o'clock this afternoon. [Whereupon, at 12 :45 pm, the committee recessed, to reconvene at 2 pm, the same day.] AFTERNOON SESSION The CHAIRMAN.
Halaman 2213 - The doctrine of corporate entity fills a useful purpose in business life. Whether the purpose be to gain an advantage under the law of the state of incorporation or to avoid or to comply with the demands of creditors or to serve the creator's personal or undisclosed convenience, so long as that purpose is the equivalent of business activity or is followed by the carrying on of business by the corporation, the corporation remains a separate taxable entity.
Halaman 2043 - Patronage dividends, refunds, and rebates to patrons with respect to their patronage in the same or preceding years (whether paid in cash, merchandise, capital stock, revolving fund certificates, retain certificates, certificates of indebtedness, letters of advice, or in some other manner that discloses to each patron the dollar amount of such dividend, refund, or rebate) shall be taken into account in computing taxable income in the same manner as in the case of a cooperative organization not exempt...
Halaman 2252 - Benevolent life insurance associations of a purely local character, mutual ditch or irrigation companies, mutual or cooperative telephone companies, or like organizations; but only if 85 per centum or more of the income consists of amounts collected from members for the sole purpose of meeting losses and expenses; (11) Farmers...
Halaman 2252 - rural area" shall be deemed to mean any area of the United States not included within the boundaries of any city, village, or borough having a population in excess of fifteen hundred inhabitants, and such term shall be deemed to include both the farm and nonfarm population thereof ; the term "farm...
Halaman 2034 - But Congress applied no limitations as to the source of taxable receipts, nor restrictive Opinion of the Court. 348 US labels as to their nature. And the Court has given a liberal construction to this broad phraseology in recognition of the intention of Congress to tax all gains except those specifically exempted.
Halaman 2219 - However, the Supreme Court held the corporation excise tax to be constitutional in Hint v. Stone Tracy Company (220 US 107 (1911)). There the Court stated that argument on the authority of the Pollock case "confuses the measure of the tax upon the privilege with direct taxation of the state or thing taxed." The Court held this excise tax constitutional even though it was measured by the net income of the corporations from all sources, including income from tax-exempt securities. A number of States...