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" That individuals carrying on business in partnership shall be liable for income tax only in their individual capacity. There shall be included in computing the net income of each partner his distributive share, whether distributed or not, of the net income... "
United States Reports: Cases Adjudged in the Supreme Court at ... and Rules ... - Page 248
by United States. Supreme Court - 1938
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Cases Decided in the United States Court of Claims, Volume 90

United States. Court of Claims - Law reports, digests, etc - 1940
...individual capacity. It then provides that each partner, in computing his net income, shall include "his distributive share, whether distributed or not, of the net income of the partnership * * *." In subsection (d) the method of computing the net income of the partnership is prescribed....
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Cases Decided in the United States Court of Claims, Volume 65

United States. Court of Claims - Law reports, digests, etc - 1925
...included in computing the net income of each partner his distributive share, whether Opinion of the Court distributed or not, of the net income of the partnership for the taxable year, or, if his net income for such taxable year is computed upon the basis of a period different from that...
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Cases Decided in the United States Court of Claims, Volume 63

United States. Court of Claims - Law reports, digests, etc - 1928
...paid by the fiduci'ary, but (here shall be included in computing the net income of each beneficiary his distributive share, whether distributed or not, of the net income of the estate, or trust for the taxable }rear. or, if his net income for such taxable year is computed upon...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - Excess profits tax - 1919 - 1023 pages
...their individual capacity. There shall be included in computing the net income of each partner Irs distributive share, whether distributed or not, of...net income of the partnership for the taxable year, or, if his net income for such taxable year is computed upon the basis of a period different from that...
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Acts of the General Assembly of the State of Alabama

Alabama - Law - 1919
...paid by the fiduciary, but there shall be included in computing the net income of each beneficiary his distributive share whether distributed or not, of the net income of the estate or trust for the taxable year, or, if his net income for the taxable year is computed upon the...
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Federal Taxes: Complete Digest of the Revenue Law, Fixing the Rates for 1918 ...

Ewell D. Moore - Taxation - 1919 - 32 pages
...be paid by the fiduciary, but there must be included in computing the net income of each beneficiary his distributive share, whether distributed or not, of the net income of the estate or trust for his accounting period. In such cases the beneficiary will, for the normal tax,...
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Canada; Economic Position and Plans for Development

Guaranty Trust Company of New York - Canada - 1919 - 30 pages
...paid by the fiduciary, but there shall be included in computing the net income of each beneficiary his distributive share, whether distributed or not, of the net income of the estate or trust for the taxable year, or, if his net income for such taxable year is computed upon...
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Taxation of Corporations and Personal Income in New York

Henry Montefiore Powell - Corporations - 1919 - 400 pages
...being taxable directly to the beneficiary or beneficiaries. Each beneficiary must include in his return his distributive share whether distributed or not, of the net income of the estate or trust for the taxable year, or. if his net income for such taxable year is computed upon...
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Income Tax Law: Analysis and Comment

Harris, Forbes & co., New York - Income tax - 1919 - 153 pages
...paid by the fiduciary, but there shall be included in computing the net income of each beneficiary his distributive share, whether distributed or not, of the net income of the estate or trust for the taxable year, or, if his net income for such taxable year is computed upon...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - Excess profits tax - 1920 - 1151 pages
...their individual capacity and that there shall be included in computing the net income of each partner his distributive share, whether distributed or not,...net income of the partnership for the taxable year, or if his net income is computed upon the basis of a period different from the basis upon which the...
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