Comparison of Titles And Sections of the Revenue Acts of 1918 And 1921 Applicabl

Cover Comparison of Titles And Sections of the Revenue Acts of 1918 And 1921 Applicabl
Comparison of Titles And Sections of the Revenue Acts of 1918 And 1921 Applicabl
United States. Internal Revenue Service
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See comparison under section 217 for treat- ment of items mentioned specifically to be included in gross income.
1921.
part of the net earnings of which inures to the benefit of any private stockholder or individual. " (6) Same as section 231(6) of 1918 Act, and exemption from taxation is extended also to corporations organized and oper- ated exclusively for literary purposes, and to any community chest, fund or founda- tion organized and operated exclusively for religious, charitable, scientif
...ic, liter- ary, or educational purposes, no part of the net earnings of which corporation, com- munity chest, fund, or foundation inures to the benefit of any private stockholder or individual.
(7) Same as section 231(7) of 1918 Act.
(8) Same as section 231(8) of 1918 Act.
(9) Same as section 231(9) of 1918 Act.
(10) Same as section 231(10) of 1918 Act.
(11) Same as section 231(11) of 1918 Act and exemption from taxation is ex- tended also to farmers', fruit growers' or like associations organized and operated as purchasing agents for the purpose of purchasing supplies and equipment for the use of members and turning over such supplies and equipment to such members at actual cost, plus necessary expenses.


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