Word: deductibility
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Dates: during 1970-1979
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...Commission has allowed interstate pipeline companies to borrow money, raise rates to consumers to pay interest and other fund-raising costs, then relend the cash to gas producers at no interest as an inducement to develop new supplies. But under that system, the pipeline company at least gets to deduct the interest expense when computing its tax bill...
...unworkable and would cripple the capitalist system-the jugular vein of which is the free movement of money. Moreover, they contend that the real need is for more investment. Among their proposals: lowering the capital gains tax and allowing companies to depreciate their plant and equipment faster and deduct dividends as an expense -thereby releasing more corporate funds for investment...
...hide the payments. One was to fill out vouchers for goods that were never received. Monroe said Exxon executives were persuaded to keep the payments secret by Cazzaniga, who reported that that was the custom in Italy. Pointing out that camouflaging the payments also enabled the company to deduct them from its Italian income taxes, Subcommittee Chairman Frank Church of Idaho charged that Exxon was practicing "a fraud on the Italian government." Moreover, subcommittee experts reckon that the favorable legislation resulting from the payments was worth 20 times more to Exxon in Italy than the amount of its contributions...
...absence granted by the New York City Board of Education, the University of Michigan and other employers) now mean that some wives no longer have the sole responsibility for the care of their newborn babies. At the same time, an Internal Revenue Service ruling that permits parents to deduct child-care expenses has enabled more housewives to take on a moderate workload, hobbies and other activities. Those who do volunteer work in social agencies find that there is a strong push to urge industry to consider voluntarism as "experience" on job applications-should the housewife some day opt to work...
Almost every producer believes some form of government help is necessary. Papp and Producer David Merrick opt for straight subsidies. Gerald Schoenfeld, co-executive director of Shubert, thinks that angels should be allowed to deduct investments from their taxes and that the taxes paid by the Broadway area should be pumped back into it. Subsidies from public and private sources already support the flourishing nonprofit theaters that now feed Broadway. The most promising young playwrights have come from them too. Terrence McNally (Bad Habits, The Ritz) got his start at the Manhattan Theater Club. So did Mark Medoff (The Wager...