Je veux savoir à propos de…

FEDERA
VOLUME 18

REGSTER

1934
a /j t e d

NUMBER 22

Washington, Tuesday, February 3, 1953
TITLE 26 INTERNAL REVENUE
Chapter I Bureau of Internal Reve nue, Department of the Treasury Subchapier A Income and Excess Profits Taxes T . D. 5975, Regs. I l l
P ar t 29 I n c o m e T a x ; T a x a b l e Y ears B e g i n n i n g A fter D e c e m b e r 31, 1941
FOREIGN TAX CREDIT

tax against which such credit is taken, which the taxpayers excess profits net income from sources within such country bears to its entire excess profits net income for the same taxable year; and 2 The total amount of the credit shall not exceed the same proportion of the tax against which such credit is taken, which the taxpayers excess profits net income from sources without the United States bears to its en tire excess profits net income for the same taxable year.

CONTENTS
Alifen Property, Office of
Pa6

Notices:
Vesting orders, etc.;
Hotz, Julia Dora______________
Junghenn, J. Henry___________

Army Department Rules and regulations;
National Guard regulations;
burial expenses_______________

P ar . 2. Section 29.131-1, a s amended by Treasury Decision 5968, approved De Civil Aeronautics Administra cember 30, 1952, is further amended by tion adding at the end of paragraph e Rules and regulations;
thereof the following new sentence: For Alterations:
taxable years ending after June 30,1950, Danger areas__________ ._____
credit for taxes shall be allowed against Designation o f; the excess profits tax imposed by sub Civil airways_____________
chapter D of chapter 1, but only to the Control areas, control extent provided in section 131 j and zones, and reporting 29.131-10.
p o in ts ----------------------P ar . 3. Section 29.131-4, as.amended by Treasury Decision 5812, approved Oc Civil Aeronautics Board tober 6, 1950, is further amended by de Rules and regulations:
leting "income from the second sen Irregular air carrier and offtence of paragraph a thereof, so that route rules; modification of such sentence will read as follows: The approach and landing limita Commissioner will thereupon redeter tions.-----------------------------mine the amount of the tax of such tax Defense Department S e c . 302. F o r e ig n tax credit excess pr o f
payer for the year or years for which See Army Department.
it s TAX ACT OF 1950, APPROVED JANUARY 3, such incorrect credit was granted.
1951.
Defense Mobilization, Office of P a r . 4. Section 29.131-8, as amended a That portion of section 131 a of the by Treasury Decision 5855, approved Notices:
Internal Revenue Code which precedes para September 13, 1951, is further amended Finding and determination of graph 1 thereof is hereby amended by in
as follows:
serting after subchapter E the following:
critical defense housing areas and except, with respect to the tax imposed A By inserting for purpose of the under the Defense Housing under subchapter D, only to the extent pro income tax in that part of the first sen and Community Facilities and vided in subsection j .
tence of paragraph a thereof which Services Act of 1951_________
b Section 131 of such code is hereby reads is the tentative credit in respect Economic Stabilization Agency amended by adding at the end thereof the of-the taxes paid or accrued to such coun following new subsection:
try or possession. , immediately after See Price Stabilization, Office of;
Salary Stabilization Board.
J Tax imposed by subchapter D. This tentative credit , so that such part will section shall be applicable for purposes of read is the tentative credit for purpose Federal Power Commission the tax imposed by subchapter D, but the of the income tax in respect of the taxes Notices:
tax paid or accrued to any country shall be paid or accrued to such country or pos Hearings, etc.;
deemed to be the amount of such tax reduced session.
Southern California Edison by the amount of the credit allowed under this section with respect to such tax against B By striking out that part of para Co__________ ,______________
the tax imposed by this chapter without graph a thereof which follows the Southern Utah Power Co_____
regard to subchapter D. The amount of the words paid or accrued to foreign coun Federal Trade Commission credit taken under this subsection shall be tries or possessions of the United subject to each of the following conditions;
Notices :
States. and inserting in lieu thereof In 1 The amount of the credit in respect Industrial bag and cover indus computing the tax against which the of the tax paid or accrued to any country try; notice of holding of trade shall not exceed the same proportion of the Continued on p. 679
practice conference________ _

On November 25, 1952, there was pub lished in the F ederal R e g ist e r 17 F. R.
10705 a notice of proposed rule making to conform Regulations 111 26 CFR
Part 29 to section 302 of the Excess Profits Tax Act of 1950, relating to the foreign tax credit, approved January 3, 1951. No objection to the rules proposed having been received, the amendments set forth below, including a supplemental amendment to conform 29.131-8 of Regulations 111 to section 341 c and d o f the Revenue Act of 1951 which was not published with the above notice, are hereby adopted.
P ar ag r aph 1. There is inserted im mediately preceding 29.131-1 the fo l lowing :

707
707

677

682

681
680
680

679

704

703
703

703