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Sec. 437. Invested capital credit. 438. New capital credit changes. 439. Borrowed capital. 440. Admissible and inadmissible assets. 441. Rules for determining credit. 442. Average base period net income-abnormali

ties during base period. 443. Average base period net income-change in

products or services. 444. Average base period net income increase in

capacity for production or operation. 445. Average base period net income

poration. 446. Average base period net income-depressed

industry sub-groups. 447. Industry base period rates of return. 448. Excess profits credit-regulated public util

ities. 449. Personal service corporations. 450. Corporations engaged in mining of strategic

minerals. 451. Capitalization of advertising, etc., expend

itures. 452. Adjustment in case of position inconsistent

with prior income tax liability. 453. Nontaxable income from certain mining and

timber operations and from natural gas

properties. 454. Exempt corporations. 455. Relief for installment basis taxpayers and

taxpayers with income from long-term con

tracts. 456. Abnormalities in income in taxable period.

Sec. 457. Corporations completing contracts and mak

ing deposits under Merchant Marine Act. 458. Historical invested capital. 459. Miscellaneous provisions. PART II-Excess PROFITS CREDIT BASED ON INCOME

IN CONNECTION WITH CERTAIN CHANGES 461. Definitions. 462. Average base period net income-determina

tion. 463. Capital changes. 464. Capital changes during the base period. 465. Foreign corporations. Part III–INVESTED CAPITAL IN CONNECTION WITH

CERTAIN EXCHANGES AND LIQUIDATIONS 470. Adjusted basis of assets received in certain

intercorporate liquidations. 471. Exchanges. 472. Invested capital adjustment at the time of

tax-free intercorporate liquidations. PART IV-Excess PROFITS CREDIT BASED ON INCOME

IN CONNECTION WITH CERTAIN TAXABLE
ACQUISITIONS OCCURING PRIOR TO

DECEMBER 1, 1950 474. Excess profits credit based on income-taxable

acquisitions.

Subchapter E—Tax on Self-Employment Income 480. Rate of tax. 481. Definitions. 482. Miscellaneous provisions.

CHAPTER 2-ADDITIONAL INCOME TAXES

Subchapter C—Excess Profits on Navy Contracts 650. Method of collection. 651. Laws applicable.

Subchapter D-Unjust Enrichment

Subchapter A-Personal Holding Companies 500. Surtax on personal holding companies. 501. Definition of personal holding company. 502. Personal holding company income. 503. Stock ownership. 504. Undistributed subchapter A net income. 505. Subchapter A net income. 506. Deficiency dividends—Credits and refunds. 507. Meaning of terms used. 508. Administrative provisions. 509. Improper accumulation of surplus. 510. Foreign personal holding companies. 511. Publicity of returns. Subchapter B—Declared Value Excess-Profits Tax 600605. [Repealed.]

700. Tax on net income from certain sources. 701. Credit for other taxes on income. 702. Administrative provisions. 703. Taxable years to which subchapter is appli

cable. 704. Application of subchapter to possessions. 705. Closing agreements. 706. Publicity of returns.

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1000. Imposition of tax. 1001. Computation of tax. 1002. Transfer for less than adequate and full con

sideration.

1003. Net gifts. 1004. Deductions. 1005. Gifts made in property. 1006. Returns.

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CHAPTER 7-TAX ON TRANSFERS TO AVOID INCOME TAX

1250. Imposition of tax. 1251. Nontaxable transfers. 1252. Definition of “foreign trust."

1253. Payment and collection. 1254. Publicity of returns.

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