Effect of the Present Tax Structure on Small Business: Hearings Before Subcommittee No. 2 of the Select Committee on Small Business, House of Representatives, Eighty-third Congress, First Session, Pursuant to H. Res. 22, a Resolution Creating a Select Committee to Conduct a Study and Investigation of the Problems of Small Business. May 19, 20, and 21, 1953U.S. Government Printing Office, 1953 - 443 էջ |
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1st Q 2nd 2nd Q 3rd 3rd Q 4th 4th Q 1st accounts payable admission tax allowed amount Bank loans payable basis BOTWINICK BOYER capital surplus cash Chairman committee Congress corporate tax cost current assets current liabilities Depreciation and depletion dividends dollars Earned surplus economy equity estimated excess-profits tax excise tax exemption expenses Fabricated metal Federal income taxes Federal taxes Federal Trade Commission finance FOLSOM fourth quarter going HORACE SEELY-BROWN HOSMER increase industry Internal Revenue Inventories investment Long-term debt loss manufacturing corporations million MORRISSEY Net income notes and accounts percent present tax problem profits tax Q 2nd Q Q 3rd Q Q 4th Q recommendations REDLICH SEELY-BROWN SHEEHAN small business small corporations statement stockholders surplus and surplus Surplus at close surplus reserves surtax tax laws tax rates tax structure taxable taxation taxpayer theaters tion Total current liabilities U. S. Government securities YATES
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Էջ 401 - P) if such corporation, however created or organized, is formed or availed of for the purpose of preventing the imposition of the surtax upon its shareholders or the shareholders of any other corporation, through the medium of permitting earnings or profits to accumulate instead of being divided or distributed...
Էջ 306 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered, . . ." The payments in the present instance were actually made in the year 1920.
Էջ 340 - Upon all perfumes, essences, extracts, toilet waters, cosmetics, petroleum jellies, hair oils, pomades, hair dressings, hair restoratives, hair dyes, tooth and mouth washes...
Էջ 81 - For purposes of paragraph (1), the term "nonbusiness debt" means a debt other than — (A) A debt created or acquired (as the case may be) in connection with a trade or business of the taxpayer; or (B) A debt the loss from the worthlessness of which is incurred in the taxpayer's trade or business.
Էջ 293 - If a corporation cancels or redeems its stock (whether or not such stock was issued as a stock dividend) at such time and in such manner as to make the distribution and cancellation or redemption in whole or in part essentially equivalent to the distribution of a taxable dividend...
Էջ 81 - Deductions otherwise allowed by law not attributable to the operation of a trade or business regularly carried on by the taxpayer...
Էջ 163 - ... rates. A reduction in individual taxes must come first, for the benefit of the entire economy. (3) The increase in the old-age insurance tax from 1% to 2 percent on both employees and employers, now scheduled to go into effect next January 1, should be postponed until January 1, 1955.
Էջ 164 - ... 6. As you know, the Ways and Means Committee of the House of Representatives is currently engaged in a comprehensive reexamination of the existing tax structure. To help achieve this objective, I have asked the Secretary of the Treasury to present by the end of the year recommendations to remove existing inequities of our tax structure, simplify the needless complications which have developed over the years in tax laws, and generally secure a better balance of tax revenues.
Էջ 158 - We must develop a system of taxation which will impose the least possible obstacle to the dynamic growth of the country. This includes particularly real opportunity for the growth of small businesses. Many readjustments in existing taxes will be necessary to serve these objectives and also to remove existing inequities. Clarification and simplification in the tax laws as well as the regulations will be undertaken.
Էջ 6 - As someone has said, a bank is an institution where you can make a loan as lone as .vou can prove that you don't need the money. My client obtained more funds on his life insurance. With the assistance of friends and relatives, he was able to keep under way. It was 1938, however, before he again caught his balance. From 1938 to 1945 the business again prospered. But at this point the Treasury swept down upon him as the Assyrians came down like the wolf on the fold, his cohorts all gleaming in purple...