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- Title
THE CONCEPT OF EXCESS PROFITS UNDER THE REVENUE ACTS OF 1940-42.
- Authors
SHOUP, CARL
- Abstract
The article offers information on the concept of excess profits tax, under the Revenue Acts of 1940 and 1942 in the U.S. According to the U.S. Senate Finance Committee, excess profits credit based on income will be predicted upon a fair amount. It states that the Revenue Act of 1942, introduced that the credit is equal to 89.06 one-fourth percent of the average of the income. It mentions that long-term capital gains and losses, income from retirement or discharge of bonds, and dividends from domestic corporations are not taken into account while computing the base-period income.
- Subjects
UNITED States; EXCESS profits tax; FINANCE laws; UNITED States. Congress. Senate. Committee on Finance; INCOME; CAPITAL gains; BONDS (Finance); DIVIDENDS; CORPORATIONS
- Publication
Law & Contemporary Problems, 1943, Vol 10, Issue 1, p28
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1190024