Word: exempt
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Dates: during 1950-1959
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...Jazwinski, Polish flyer who escaped to Denmark in a Soviet-built MIG, to live in the U.S. ¶Added, in the Senate Finance Committee, some $50 million in excise tax cuts to the $912 million reduction already called for in a House-passed bill. Included was a move to exempt regular-season college athletic contests and some 70% of movies from the admissions...
...number of years, undergraduate organizations have ridden a unique gravy train: using tax-exempt lecture halls, they show motion pictures with the frank objective of making profits. But now they face a double squeeze. Film distributors, knowing that student showings hurt attendance at local commercial houses, say they will no longer give the groups 16 millimeter releases, while the Dean's Office, fearing that profits endanger the University's tax status, has become increasingly wary of the motives involved...
...allows film showing in tax-exempt buildings only if the pictures are not shown for profit and are of an educational nature. At the present time, undergraduate exhibitors violate both regulations. Although films are not so lucrative this year as in the past, profit is still the only reason that groups like the Liberal Union or the U.N. Council show pictures. And movies like Topper and Arsenic and Old Lace can hardly be considered educational...
Actually, only one organization, Ivy Films, has a legitimate reason for showing films in University buildings, for Ivy alone claims an interest in the motion picture as an art form. Political groups and special interest clubs should not be allowed to use tax-exempt facilities for profit. And because of the exemption rules, Ivy Films must revise scheduling policies to keep its films on an educational and not a commercial plane...
...year. ¶ "Double taxation" of dividends (i.e., the corporation pays taxes on its income and then the individual pays taxes on the dividends) will be gradually reduced. The first year the new code is in effect, the first $50 of an individual's dividend income will be exempt; the second year, $100. On the remainder, the taxpayer will be allowed to subtract 5% of his dividend income from his tax bill during the first year the law is in effect, 10% the second year, 15% thereafter. This will save dividend-collecting taxpayers $240 million the first year...