Word: paye
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Dates: during 1960-1969
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...foundation, therefore, can often afford to pay a substantially higher price in acquiring businesses than a tax-paying enterprise. To eliminate this unfair advantage, the Treasury Department has recommended legislation requiring private foundations to dispose of substantial business interests which are unrelated to their exempt activities. Congress has not acted on the proposal...
Another distortion in the tax system is the multiple surtax exemption for related corporations. Normally, corporations pay 22 per cent on all taxable income, but they pay a surtax of 26 per cent on all taxable income over $25,000. A corporation can avoid paying 48 per cent on its income over $48,000 by forming several subsidiaries, each with a taxable income of less than $25,000. There are other good reasons for forming subsidiaries, such as to limit a corporation's liability, but a single enterprise should not receive a bunch of surtax exemptions just because...
...Mississippi 20 years ago. A city will borrow money to construct a building and then lease the structure to a private corporation. Because the city bonds are free, the interest rates are lower than they would be if the corporation itself borrowed the money and the lender had to pay taxes on the interest. Originally, the system benefited both struggling businesses and depressed areas. But as the practice has grown in the last few years, large corporations have exploited the device, in essence, converting their regular bonds into tax-exempt bonds. It distorts the local tax-exempt privileges...
...plan, Ryan showed, has had encouraging results. Before the bargaining, 26% of the schools had completely segregated faculties. Now only 3% are completely segregated. "It would have been easier to give 'combat pay' or have forced transfers, " said Ryan, "but the negotiated way gives teachers new dignity and provides inducements to bring new people into the system...
...yearly income less than $10,000 would result in repayment of an amount less than the original loan. A graduate earning $7000 per year would pay back a total...