Word: excessive
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Dates: during 1940-1949
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Thus James Lincoln subjected himself to a very considerable financial risk. Item: he is now in the courts defying the Navy to renegotiate him out of $3,250,000 of 1942 "excess profits" (this is the first fullblown test yet of the renegotiation law). Item: he has also gone to court to contest a Treasury ruling that he overpaid...
...year, sales will probably top $80,000,000. In the face of this, American Home has good reason not to merge into one tightly knit company. The reason: the excess-profits...
...save excess-profits taxes, Baltimore's small Tom Moore Distillery last week declared a dividend of 27 gal. of bourbon whiskey for every one of its 17,500 shares...
...Similar 1942 tax uncertainties caused most statements to underestimate credits due from the postwar refund of the excess-profits tax. And while businessmen have been putting away tax reserves for this year at the actual 1942 rate, Congress is considering increasing excess-profits taxes from 90% to 95%, leaving the postwar refund...
Even so, dopesters suspected that things were not quite so bad as they seemed last week. Their grounds for suspicion: 1) distillers, already high up in the 1943 excess-profits-tax brackets, have almost no incentive for releasing stocks before the new tax year begins; 2) retailers, whose markup goes on after Federal and state liquor taxes, have every incentive to wait for Congress to decide on a higher liquor excise; 3) if some extra blending spirits could be found-perhaps in Cuba-existing stocks could be stretched, sold under new labels for about as much as straight whiskey brings...