Estimates of Federal Tax Expenditures, Committee On Ways And Means Jcs-4-91
The book Estimates of Federal Tax Expenditures, Committee On Ways And Means Jcs-4-91 was written by author United States. Congress. Joint Committee On Taxation Here you can read free online of Estimates of Federal Tax Expenditures, Committee On Ways And Means Jcs-4-91 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Estimates of Federal Tax Expenditures, Committee On Ways And Means Jcs-4-91 a good or bad book?
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The lower tax rates in the schedule are classified as a tax expendi- ture (as opposed to normal tax law) because they are intended to provide tax benefits to small business and are unrelated to con- cerns about ability of individuals to pay taxes. ^ The accounts appear in U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business, published monthly. The most difficult issues in defining tax expenditures for busi- ness income of individuals and corporations relate to C£...^ital costs, which are costs not properly allocable to income earned in a single year. It is assumed, for example, that the normal tax structure would permit straight-line cost recovery deductions on structures and equipment over an asset's estimated useful life. The measurement of income from capital under the normal income tax structure does not take into account the effects of infla- tion on items such as depreciation, capital gains, and interest pay- ments. As a result, some tax expenditure estimates will generally be larger than would be the case if the normal tax structure pro- vided for inflation adjustments in these items.
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