Omnibus Maritime Regulatory Reform, Revitalization, and Reorganization Act: Hearing Before the Committee on Ways and Means, House of Representatives, Ninety-sixth Congress, Second Session, on H.R. 4769 ... March 19, 1980U.S. Government Printing Office, 1980 - Всего страниц: 144 |
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1947 agreement accelerated depreciation Act-Sect AL ULLMAN allowed amended amount barge benefits bill bulk capital construction fund cargo CCF Program Chairman change from base closing agreement commerce Committee Compare Bill-Sect competitive CONGRESS THE LIBRARY corporations court deposited Difference from base domestic trade earnings effect Federal flag vessels fleet foreign flag foreign shipping foreign trade GIBBONS GUARINI HALPERIN incentive income tax inland waterways Internal Revenue Code Internal Revenue Service investment credit investment tax credit Jones Act legislation LIBRARY OF CONGRESS liner Marine and Fisheries Maritime Administration MCCLOSKEY ment Merchant Marine Act million MURPHY ordinary income account Percent change plaintiff profits proposed purchase purposes qualified investment qualified withdrawals reciprocal exemption reduce reserve funds ROUSSELOT section 38 property Section 607 shippers shipping income subsidy summary judgment tax deferred tax provisions tax treaties tax-deferred funds taxable income taxpayer tion Title U.S. flag U.S. shipping U.S. tax U.S.-flag vessels United
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Стр. 16 - It is necessary for the national defense and development of its foreign and domestic commerce that the United States shall have a merchant marine (a) sufficient to carry its domestic waterborne commerce and a substantial portion of the water-borne export and import foreign commerce of the United States and to provide shipping service on all routes essential for maintaining the flow of such domestic and foreign water-borne commerce at all times, (b) capable of serving as a naval and military auxiliary...
Стр. 16 - That it is necessary for the national defense and for the proper growth of its foreign and domestic commerce...
Стр. 16 - ... owned and operated under the United States flag by citizens of the United States, insofar as may be practicable, and (d) composed of the best-equipped, safest, and most suitable types of vessels, constructed in the United States and manned with a trained and efficient citizen personnel. It is declared to be the policy of the United States to foster the development and encourage the maintenance of such a merchant marine.
Стр. 17 - ... that intention is to be ascertained, not by taking the word or clause in question from its setting and viewing it apart, but by considering it in connection with the context, the general purposes of the statute in which it is found, the occasion and circumstances of its use, and other appropriate tests for the ascertainment of the legislative will.
Стр. 18 - The objective of the credit is to reduce the net cost of acquiring new equipment; this will have the effect of increasing the earnings of new facilities over their productive lives and increasing the profitability of productive investment. It is your committee's intent that the financial assistance represented by the credit should itself be used for new investment, thereby further advancing the economy.
Стр. 16 - ... operated under the United States flag by citizens of the United States insofar as may be practicable, and (d) composed of the best-equipped, safest, and most suitable types of vessels, constructed in the United States and manned with a trained and efficient citizen personnel. It is hereby declared to be the policy of the United States to foster the development and encourage the maintenance of such a merchant marine.
Стр. 34 - States; (ii) rolling stock, of a domestic railroad corporation subject to part I of the Interstate Commerce Act, which is used within and without the United States; (iii) any vessel documented under the laws of the United States...
Стр. 14 - RULE. — The amount of the credit allowed by section 38 for the taxable year shall be equal to 7 percent of the qualified investment (as defined in subsection (c)).
Стр. 15 - C ) third as made out of the ordinary income account. "(2) If any portion of a qualified withdrawal for a vessel, barge, or container is made out of the ordinary income account, the basis of such vessel, barge, or container shall be reduced by an amount equal to such portion. "(3) If any portion of a qualified withdrawal for a vessel, barge, or container is made out of the capital gain account, the basis of such vessel, barge, or container shall be reduced by an amount equal to — "(A) Five-eighths...
Стр. 22 - Realistic depreciation alone, however, is not enough to provide the essential economic growth. In addition, a specific incentive must be provided if a higher rate of growth is to be achieved. The investment credit will stimulate investment, first by reducing the net cost of acquiring depreciable assets, which in turn increases the rate of return after taxes arising from their acquisition.