Description of Tax Bills: (S. 90, S. 150, S. 267, S. 284, S. 649, and S. 913) : Scheduled for a Hearing Before the Subcommittee on Taxation of the Senate Committee on Finance on June 12, 1991U.S. Government Printing Office, 1991 - 34 páginas |
Outras edições - Ver tudo
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Description of Tax Bills (H.R. 2163, S. 927, and S. 1183): Scheduled for a ... Visualização integral - 1983 |
Palavras e frases frequentes
$5 million ADR midpoint advance refunding alternative minimum tax annual issuance limit apply to bonds arbitrage profits arbitrage rebate requirement arbitrage restrictions bill would apply boats and yachts bond proceeds bond-financed bonds are issued Code death benefit December 31 disallowance disproportionate private business district heating earned Effective Date eligible endowment exception exempt persons Exempt-facility bonds Federal Government finance activities finance direct financial institutions five percent fund governmental bonds gross income hazardous waste inboard motor included infrastructure facility bonds insurance contract issued after December issued to finance issuers Issues Pros leasing loan bonds luxury excise tax mental bonds modified endowment contract nonpurpose investments payment present law private activity bonds private loan qualified terminal illness refunding bonds repeal retail sale Senators small-issuer Symms tax on boats tax subsidy tax-exempt financing taxable years beginning terminal illness rider terminally ill individuals tion trade or business unrelated and disproportionate volume limitations yield restriction requirement
Passagens conhecidas
Página 10 - ... property), (2) financed with the proceeds of tax-exempt bonds, (3) predominately used outside the United States, or (4) imported from a foreign country with respect to which an Executive Order is in effect because the country maintains trade restrictions or engages in other discriminatory acts.
Página 24 - Vehicle used by the taxpayer directly in the trade or business of transporting persons or property for compensation or hire, or (iii) Truck or van that is a qualified nonpersonal use vehicle as defined under § 1.274-5T(k). (d) Business use percentage. — (1) In general. — The term "business use percentage...
Página 5 - Interest on State and local government bonds generally is excluded from gross income for purposes of the regular individual and corporate income taxes if the proceeds of the bonds are used to finance direct activities of these governmental units (Code sec.
Página 10 - A taxpayer is allowed to recover, through annual depreciation deductions, the cost of certain property used in a trade or business or for the production of income.
Página 28 - Law Interest on State and local government bonds generally is excluded from income except where the bonds are issued to provide financing for private parties. Present law includes several exceptions, however, that allow tax-exempt bonds to be used to provide financing for certain specifically identified private parties.
Página 24 - The tax applies only to the first retail sale (for a purpose other than resale) after manufacture, production or importation of items subject to the tax. It does not apply to subsequent sales of these items. Thus, for example, if a boat dealer sells a new boat for $150,000, that item is subject to this tax.
Página 14 - State or local government bonds generally is excluded from income if the bonds are issued to finance activities carried out and paid for with revenues of these governments. Interest on bonds issued by these governments to finance activities of other persons, eg, private activity bonds, is taxable unless a specific exception is included in the Code. One such exception is for private activity bonds issued to finance activities of private, charitable organizations described in section 501(c)(3) ("section...
Página 11 - ... election. (d) Instead of using the 200% declining balance method for 3-year to 10-year property, taxpayers can elect to use the 150% declining balance method using ADS class lives. This is an annual class-by-class election. (e) An alternative depreciation system provides for straight-line depreciation over the property's ADR midpoint life (12 years for personal property with no ADR midpoint life and 40 years for real property). (1) A taxpayer may elect to use the alternative system for any class...
Página 5 - ... are includible in the gross income of the recipient to the extent that the amount received...
Página 22 - Accelerated death benefits are fully excludable if the insured is a terminally ill individual. This is a person who has been certified by a physician as having an illness or physical condition that can reasonably be expected to result in death within 24 months from the date of the certification. Exclusion for chronic illness. If the insured is a chronically ill individual...