Vinson Pushes Revenue Bill to Ease Corporate Taxes
Representative Vinson says the Ways and Means bill would reduce tax burden for most corporations and support expansion. It revises undistributed profits and capital gains taxes, imposes a new surtax on family or closely held firms, and aims to raise the same revenue while easing hardship.
MENTIONED IN THIS ARTICLE
Douglas B. Cornell
Washington
Vinson
D-Ky
House
Ways and Means Committee
Snd
Crowther
Wachovia
Bidding into bankruptcy in a bridge problem
McKenney explains a bridge bidding clash where South and North misread the hand. South opened spades, North overcalled two clubs, leading to a heavy double rubber loss. North should bid four hearts to show two majors, while South erred by persisting beyond safety.
MENTIONED IN THIS ARTICLE
South
North
Tax plan shows 40 percent gap between old and new rates
Vinson explains the proposed corporate tax bill. The top rate for large corporations would be 20 percent, while the highest existing rate is 32.4 percent, creating a 40 percent differential. Returns for small earnings are capped at 34.1 percent for 25 000 or less, and 12 1 2 percent for up to 5 000. Depreciation deductions and loss carryovers offer relief, and the 18 tax on closely held or family firms applies only to income after other reductions.
MENTIONED IN THIS ARTICLE
Vinson
Tax rule on closely held firms and 1B tax details
Vinson explains that only corporations with net income over 75000 and distributions of 57.6 percent are affected. The 1B tax targets 300 to 600 subject firms, with closely held defined as more than 50 percent owned by a single holder or up to 75 percent by ten or fewer.
MENTIONED IN THIS ARTICLE
Vinson
Treasury
North Carolina Dietetic Association Opens Friday
Greensboro Feb 24 The annual convention of the North Carolina Dietetic association will open Friday afternoon at 5 o clock in the Home Economics building at Woman's College of the University of North Carolina. Registration and a buffet supper start the event with meetings continuing through the evening and all day Saturday ending with a tea at 4 30.
MENTIONED IN THIS ARTICLE
Greensboro
The
North Carolina Dietetic Association
Woman's College of the University of North, Carolina
Also Mentioned on This Page
Bill
Liberal Aulowance
Creem
Eta
Peta Et
My Jeweler
South Main ST
McKenney
William BE. McKenney
American Contract Bridge League
Six Hearts
NEA Service, Inc
Eeeres
Dietetic Association
W. C
Eastern Airlines
North Carolina
Asheville
High Point
Federal Deposit
Winston-Salem
Raleigh
Salisbury
Resep
A. E. Alexander & CO
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