"Paid or accrued," 106 "Period of administration," 28 "Person," 139 "Personal service corporation," 22, 140 "Political subdivision," 66 "Possession, of United States," 107 "Present war," 139 "Prewar income," 177 "Prewar period," 175 "Revenue act of 1916," 139 "Revenue act of 1917," 139 "Royalties," 56 "Same interests," 100 "Secretary," 139 "Similar credit," 20 "Sources within United States," 16 "Stock dividend." 60 "Substantially all the stock," 99 "Taxpayer," 139 "Terms relating to invested capi tal, 177 "United States," 139 DEMOLITION OF BUILDINGS, 82 Deductions, 90-92, 150, 162 Lessor and lessee, 91 Deposit premiums, 10 United States bonds as security, 150, 162, 183 DEPOSITORS' GUARANTY FUND, 75 DEPRECIATION DEDUCTIONS, 150, 162 Amount, 85-87 Animals for breeding purposes, 16 Capital sum returnable, 85 Computation of allowance, 86 Copyrights, 49, 86, 87 Dairy animals, 16 Designs, 87 Drafts animals, 16 Drawings, models, and patterns, 87 Experimental work, 87 Farmers, 16 Franchises, 86 Furniture, 85 Improvements, 86 Intangible property, 86, 87 Inventories, 85 Land, 86 Licenses, 86 Live stock, 16 Machinery and equipment, 87 Modification of method of com puting, 85 Nonresident aliens, 18 Patents, 49, 86, 87 Personal effects, 85 Pleasure vehicles, 85 Securities, 86 Definition, 57 Federal land bank, 67 Federal reserve bank, 67 Forgiveness of indebtedness, 63 Gross income, 40 Invested capital, 133, 134 Life Insurance Policies, 58 Liquidating, 58 National farm loan association, 67 Nonresident aliens, 16, 17 Payment in property, 60 Rate of tax, 57, 60 Stock, 57, 60, 61, 134 Bonuses to, 44, 75, 76 Promissory notes, 42 Workmen's compensation, 69 ESTATES AND TRUSTS Bad debts, 153 EXCESS PROFITS TAX Allocation of net income, 114 Credits, 119, 176 Computation, fiscal year, 137 Definitions, 173 Exemptions, 111, 175 Gold mining, 111, 115 Imposition, 111, 173 Mineral deposits, sale of, 115 Mines, sale of, 115 Net income, 176 Oil wells, sale of, 115 Partnership, 181 ! GROSS INCOME Allocation, judgments, 40 Appreciation of property, 49 63 Compensation, 42-45 Good will, sales, 50 Installment plan sales, 51, 52, 54 Insurance policies, proceeds, 40, 41, 148 Long term contracts, 47 Nonresident alien, 16-19, 148 Time to be accounted for, 40 GUARDIAN AND WARD, 26, 27 Marriage settlement, 66 IMPAIRMENT OF CAPITAL, 124 Nonresident aliens, 17, 77, 78 cates, 55 Savings-bank deposits, 41 United States obligations (See Lib- War Finance Corporation bonds, 5, 7, 8, 55, 62 INVENTORIES Cost, 33, 142 Dealers in securities, 34 Depreciation, 85 Farmers, 14, 16 Market, 33, 34 Necessity, 32 Valuation, 33 INVESTED CAPITAL Admissible assets, 130, 177, 178 Average invested capital, 132, 178 Bonus stock, 123 Book accounts, 120, 121 Borrowed capital, 120, 128 Changes during year, 132, 133 Consolidated balance sheet, 137 Current earnings, 124 Definition, 120 Discount on bonds, 128 District of Columbia obligations, 124, 129 Effect of ordinary dividend, 133, Effect of stock dividend, 134 Good will, 121 Basis for determining, 81, 141 Compensation for, 63 Crops, 15 Deductions, 149, 161 Depreciation, 16, 84 Destruction of property, 15, 81 Exchange of property, 35-39, 141 Farmers, 15 Fire, 80, 81 Flood, 80, 81 Good will, sale, 50 Indemnity, 15 Insurance reducing, 80, 81 Inventories and Rebates, 92-95, 151, 163 Live stock, 15 Net losses, 95, 142 Nonresident aliens, 18 Credits, 19, 152 Deductions, 18, 77, 151 Personal exemption, 19 Withholding of tax. 155 NONRESIDENT FOREIGN TIONS Credits, 152 Deductions, 151 CORPORA Returns, 19, 102 NORMAL TAX Imposition, 1, 144 NOTES AS COMPENSATION, 42 Losses from, 125 OIL WELLS, DEPLETION, 90 PAID-IN SURPLUS, 123 Association distinguished, 24 Credits of partners, 7, 23, 106, 152 21, 23, 24, 25, 62 Taxability, 21, 152 PATENTS, SALES OF, 49 PAYMENT OF TAXES Assessment, 167 At source, 97, 155, 164 Certificates of indebtedness, 106 Installments, 101, 104, 105, 118, 119, 167 Credit for taxes, 106 Definition, 106 word") Obligations, invested capital, 124, 129 RENTED PROPERTY, EXPENSES OF, 77 REORGANIZATIONS, 37-39, 137, 180. Status of citizens, 4, 172 181 |