Page:United States Statutes at Large Volume 45 Part 2.djvu/1522

 3176 Income Tax, Title I, Revenue Act of 19f8- Continued. estates and trusts; normal personal ex- emptions allowed heirs, etc ___ _ credita allowed beneficiaries in com- puting income ______________ _ computation for different taxable years _______________________ _ profit sharing, etc., for employees not trued ___________________ _ distributees taxed on amount re- ceived; credit allowed _________ _ income from revokable trusts, in- cluded as of grantor __________ _ distribution of income for benefit of grantor from a trust__________ _ determination of capital net gain and loss in returns________________ _ special allowance for net losses ____ _ foreign tax allowed as credit of bene- ficiary's income______________ _ partnerships not taxable; partners taxed as individuals _______________ _ distributive share included in income of partner___________________ _ computation of rates under different laws _______________________ _ net income, same as individuals __ _ credits allowed; determination of earned income_______________ _ application of capital net gains and losses ___________________ _ deduction of net loss _____________ _ credit for foreign taxes _____________ _ sworn statement of gross income required______________________ _ insurance companies ________________ _ tax on life insurance companies______ _ rate on net income of domestic ____ _ foreign, from sources in United States_______________________ _ gross income; sources oL _____________ _ application of "reserve fund re- quired by law"______________ _ net income, means gross income less deductions ___________________ _ tax free interest__________ ~ _______ _ reserved on weekly payment assess- ments________________________ _ dividends from corporations, do- mestic; foreign _______________ _ reserves for deferred dividends _____ _ investment expenses; limitation____ _ real estate taxes; exceptions _______ _ exchange of property _____________ _ interest on debts; exception _______ _ specific money credit, if income $25,000 or less _______________ _ rental value of real estate; limita- tion ________________________ _ tax on foreign companies, net income of United States business______ _ tax on insurance companies other than life or mutual_________________ _ domestic companies; foreign compa- nies from United States sources_ meaning of terms; "gross income" __ "net income"___________________ _ "investment income"; sources of:.. "underwriting income" __ _ _ _ __ _ _ _ "premiums earned on insurance contracts during taxable year," computation oL ______________ _ "losses incurred"; computation of__________________________ _ INDEX. 839 839 839 839 839 840 840 840 840 840 840 840 841 841 841 841 842 842 842 842 842 842 842 842 842 842 842 843 843 843 843 843 843 843 843 844 844 844 844 844 844 844 844 844 845 Income Tax, Title II Revenue Act of 19£8- ContinueCl. tax on insurance companies; meaning of terms; "expenses incurred"; computation oL ______________ _ net income deductions allowed; busi- ness expenses________________ _ interest__________________________ _ taxes ___________________. _______ _ losses ____________________________ _ losses from sales of property_______ _ worthless debts __________________ _ dividends from corporations ________ _ exempt interest___________________ _ exchange, etc., of property ________ _ specific money credit to domestic Uni~dmS::~--b~;i~""e~ - by- -i~r""eig~ companies ____________________ _ no duplications ___________________ _ special deductions for net losses ____ _ credit for foreign taxes allowed domestic companies __________ _ gross income determined_____________ _ tax on mutual insurance companies other than life ________________ _ rates 3S other corporations________ _ gross income of mutual marine com- panies designated _____________ _ additional deductions allowed; in addition to reserve fund ______ _ policy and annuity contracts ____ _ mutual marine companies, repay- ment_________________________ _ companies otner than life or ma- rine; premium deposits returned_ nonresident alien individuals _________ _ normal tax on, if not resident of contiguous country ____________ _ residents in contiguous countries; compensation for personal serv- ices in United States__________ _ additional, if net income exceeds family credits of $4,000 _______ _ on excess thereoL _______________ _ in lieu of other tax _____________ _ gross income, includes only from United States sources _________ _ earnings from foreign ships, etc., exempt____________________. __ deductions allowed on income from United States sources _________ _ losses not connected with busi- UeSB ________________________ _ casualty losses not connected with business _____________________ _ charitable contributions to do- mestic corporations, etc________ _ personal exemptions; for depend- ents, if of contiguous countries __ deductions and credits allowed; tax withheld at source____________ _ credits against taxes of foreign governments not allowed______ _ time for filing and paying_________ _ withholding at source ___________ _ foreign corporations ________________ _ gross income includes only from United States sources _______________ _ exemptions of ships underforeign flag_ deductions allowed on income from United States sources; appor- tionment ____________________ _ benefit of, by filing returns of all United States income ________ _ 845 845 845 845 845 845 845 845 845 845 845 845 846 846 846 846 846 846 846 846 846 846- 846 847 847 847 847 847 847 847 847 847 847 847 848 848 848 848 848 848 849 849 849 849 849

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