Federal Income Tax Problems --1922 - Emerson Emanuel Rossmoore - Google grāmatas

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PROBLEM 279. Illustrating the Computation of the War-Profits and

Excess-Profits Taxes for the Calendar Year 1921 of

a Domestic Corporation Which Derives a Net Income

of More Than $10,000. from Government Contracts

Made Between April 6, 1917 and November 11, 1918,

Both Dates Inclusive

PROBLEM 280. Illustrating Computation of Excess-Profits Tax in Case

the Excess-Profits Credit is not all Absorbed in the

PROBLEM 281. Illustrating the Application of the Limitation of the

Excess-Profits Tax in the Case of a Corporation Mak-

ing a Return for a Full Year

PROBLEM 282. Illustrating the Application of the Limitation of the

Excess-Profits Tax in Case of a Corporation Making

a Return for Less Than a Full Twelve Months Period. 344

PROBLEM 283. Illustrating the Determination of the Excess-Profits

Tax in Case Thirty Percent or More of the Net In-

come of a Corporation is Derived from a Trade or

Business Which if it Constituted the Sole Trade or

Business of the Corporation Would Bring the Corpora-

tion within the Class of Personal-Service Corporations

and the Remainder of the Net Income is Derived from

a Separate Trade or Business Requiring Invested

PROBLEM 284. Illustrating the Determination of the Excess-Profits

Tax of a Corporation in 1921 in Case Part of the In-

come is Derived from the Mining of Gold .

PROBLEM 285. Illustrating Excess-Profits Credit

PROBLEM 286. Illustrating the Specific Exemption for Excess-Profits

Tax Purposes Allowed to Corporations Filing a Con-

solidated Return

PROBLEM 287. Illustrating the Computation of Invested Capital in the

Case of a Corporation Holding Inadmissible Assets . 351

PROBLEM 288. Illustrating the Method of Computing the Amount of

Inadmissible Assets Which Becomes Admissible in

Case Income Derived from Such Assets Consists in

Part of Gain or Profit Derived from the Sale or

Other Disposition Thereof or In Case All or Part of

the Interest Derived from Such Assets is in Effect

Included in the Net Income because of the Limitation

on the Deduction of Interest Under Paragraph (2)

of Subdivision (a) of Sec. 234 .

PROBLEM 289. Illustrating Contract Considered as Intangible Prop-

erty in Connection with Computation of Invested

PROBLEM 290. Illustrating Inadmissible Assets-Federal Reserve Bank

PROBLEM 291. Illustrating War Finance Corporation Bonds as In-

admissible Assets

PROBLEM 292. Illustrating Inadmissible Assets-Stock of Foreign

PROBLEM 293. Illustrating Capital Stock Which May Be Included As

An Admissible Asset

PROBLEM 294. Illustrating the Determination of the Value for

In-

vested Capital Purposes of Stock or Shares Issued at

a Nominal Value or Having No Par Value

PROBLEM 295. Illustrating the Computation of Invested Capital—

Capital Stock and Surplus

PROBLEM 296. Illustrating the Determination of Invested Capital in

Case Capital Stock Was Issued Originally at a Pre-

mium or at Par and is Bought Back at a Lower Pre-

mium or at a Discount

PROBLEM 297. Illustrating Paid-in Surplus

PROBLEM 298. Illustrating Appreciation in Value of Property Which

Appreciation Cannot be Included in Invested Capital. 363

PROBLEM 299. Illustrating the Inclusion in Invested Capital of Stock

Distributed to Employees for Services Rendered.

PROBLEM 300. Illustrating Inclusion in Invested Capital of Commis-

sions Paid for the Sale of the Capital Stock of a

PROBLEM 301. Illustrating Borrowed Capital for Purposes of In-
vested Capital

PROBLEM 302. Illustrating Borrowed Capital Not to be Included

Invested Capital-Debenture Bonds

PROBLEM 303. Illustrating Borrowed Capital Which May be Included

in Invested Capital-Indebtedness to Stockholders

PROBLEM 304. Illustrating Case in Which Evidences of Indebtedness

May be Included in Invested Capital

PROBLEM 305. Illustrating the Restoration to Invested Capital of

Amounts Written off in Prior Years Against Tangible

PROBLEM 306. Illustrating the Restoration to Invested Capital of

Amounts Written off in Prior Years Against In-

tangible Property

PROBLEM 307. Illustrating Computation of Invested Capital in Case

Intangible Property Has been Paid in for Stock or

Shares Prior to March 3, 1917 .

PROBLEM 308. Illustrating the Computation of Invested Capital in

Case of Intangible Property Acquired for Stock or

Shares Before March 3, 1917-Par Value of Capital

Stock Outstanding on First Day of Taxable Year Less

than Amount Outstanding March 3, 1917

PROBLEM 309. Illustration Computation of Invested Capital in Case

Intangible Property has been Paid in for Stock or

Shares After March 3, 1917

PROBLEM 310. Illustrating Case in Which Leasehold May Not be In-

cluded in Invested Capital .

PROBLEM 311. Illustrating Determination of Invested Capital in Case

Bondholders Purchase at Foreclosure Sale the Prop-

erty Covered by the Mortgage Securing the Bonds and

Then Transfer said Property to a new Corporation in

Exchange for its Capital Stock

PROBLEM 312. Illustrating Computation of Invested Capital-Fair

Market Value of Assets as of March 1, 1913 Has no

Bearing on Invested Capital

PROBLEM 313. Illustrating the Computation of Invested Capital-

PROBLEM 314. Illustrating the Determination of the Amount of Capital

Stock Paid for Intangibles in Case a Mixed Aggregate

of Tangible and Intangible Property Has Been Ac-

quired by the Issue of Stocks and Bonds

PROBLEM 315. Illustrating Realization of Appreciation as Affecting

Invested Capital

PROBLEM 316. Illustrating Effect on Invested Capital of Payment of

Federal Income and Excess-Profits Tax for the Previous

PROBLEM 317. Illustrating Inclusion in Invested Capital of Insurance

on Life of an Officer of a Corporation .

PROBLEM 318. Illustrating Method of Arriving at Amount of Net In-

come Available for Distribution as Dividend-Effect

on Invested Capital.

PROBLEM 319. Illustrating Effect on Invested Capital of Cash Divid-

end Paid in the First Sixty Days of the Distributing

Company's Taxable Year Which Dividend is Greater

in Amount than the Surplus at End of Previous Year 388

PROBLEM 320. Illustrating Effect of Stock Dividend on Invested

PROBLEM 321. Illustrating Effect of Operating Deficit on Invested

PROBLEM 322. Illustrating the Computation of the Invested Capital

of a Corporation for a Fractional Part of a Year.

PROBLEM 323. Illustrating Computation of Excess-Profits Tax for a

Fractional Part of a Year .

PROBLEM 324. Illustrating Case in Which Profits Tax is Assessed by

Comparison with Representative Concerns-Commis-

sioner Unable to Determine Invested Capital Ac-

cording to Ordinary Method .

PROBLEM 325. Illustrating Case in Which Profits Tax is Assessed

by Comparison with Representative Concerns-For-

eign Corporations

PROBLEM 326. Illustrating Case in Which Profits Tax is Assessed by

Comparison with Representative Concerns-Corpora-

tions Entitled to Benefits of Section 262

PROBLEM 327. Illustrating Case in Which Profits Tax is Assessed by

Comparison with Representative Concerns-Mixed Ag-

gregate of Tangibles and Intangibles Paid in for Stock

PROBLEM 328. Illustrating Case in Which Profits Tax is Assessed under

Sections 327 and 328-Abnormal Conditions Affecting

Invested Capital-Income in Current Year from Ad-

vertising in Prior Years

PROBLEM 329. Illustrating Case in Which Assessment by Comparison

with Representative Concerns is Denied-Gains from

Government Contracts

PROBLEM 330. Illustrating Factors Governing Selection of Representa-

tive Corporations to Determine Percentage to Apply

to Income in the Case of Corporations Assessable

under Sections 328 .

PROBLEM 331. Illustrating Computation of Invested Capital in Case

of Re-organization, Consolidation, or Change of Own-

ership of Property. After March 3, 1917, in which an

Interest or Control of Less Than Fifty Percent Re-

mains in the Same Persons, or Any of Them.

PROBLEM 332. Illustrating the Computation of Invested Capital in

the Case of a Corporation Re-organized after March

3, 1917, an Interest of More Than Fifty Percent Re-

maining in the Same Persons.

PROBLEM 333. Illustrating the Computation of 1921 Invested Capital

in the Case of a Corporation Organized after March

3, 1917 to Take Over the Net Assets of Two or More

PROBLEM 334. Illustrating the Computation of the Excess-Profits Tax

in the Case of a Domestic Corporation (Other Than a

Personal-Service Corporation) Having a Fiscal Year

PROBLEM 335. Illustrating the Computation of Excess-Profits Taxes for

a Corporation Having a Fiscal Year Ending in 1922 408

PROBLEM 336. Illustrating Limitation on Excess-Profits Tax in Case

of Sale of Mine

APPENDIX-Excerpts from the Revenue Act of 1921 bearing upon the

income and profits tax, with supplementary index to

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