Word: exempt
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Dates: during 1950-1959
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SEChairman Armstrong himself estimates that one-third of all small issues are "questionable" at best. Yet under current SEC practice, offerings of less than $300,000 are exempt from the full disclosure requirements of standard company issues. Furthermore, unlike the larger companies whose officers are liable under civil law for misstatements of fact, issuers of exempt securities are not held accountable except under federal fraud statutes...
...York Stock Exchange President Keith Funston made another objection: adoption of the annuities might make insurance "a vehicle for avoiding taxes on common stock investments." Funston explained that while individual investors pay capital gains taxes plus 16% to 87% tax on dividend income, insurance companies are exempt from capital gains and pay only an estimated 7.8% on net investment income. This might turn variable annuities into a tax dodge, he said, and "might even spark congressional action to reduce or remove the advantageous tax treatment of all life insurance companies...
...everything from pastry-baking to power-sewing by one of the world's largest vocational schools. It will build a plant and rent it to him. Moving to Puerto Rico will free him from U.S. income taxes. And as the biggest come-on of all, Puerto Rico will exempt him from all corporate taxes for ten years if the industry he starts is a new one for the island and not a "run away" from the mainland. His personal income from dividends, moreover, can be exempt from taxes for seven years in the first...
Only those who live it up from moment to moment are exempt from this curse. Chief of these is the prettiest little existentialist in existence, Annette
Reece, a former chairman of the Republican National Committee, and one of the late Senator Taft's most outspoken supporters, will talk on "To Socialism Via Tax-Exempt Foundations...