Word: refundable
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Dates: during 1960-1969
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...COOPS rebate policy is one of the most misunderstood aspects of its whole operation. As a cooperative society, the Coop must pay back to its members all the profits left over from members' purchases after taxes and operating expenses. Unless the Coop pays this patronage refund, that profit is liable to be taxed up to fifty per cent as it is in any large corporation...
...grow (they will be over $16 million this year, compared to $15,282,000 last year), expenses have risen at a faster rate. Marginality has finally caught up with the Coop. For years he Coop had endeavored to give, in a sense, a double discount. Besides the patronage refund, the Coop has always made a point of pricing as low as or lower than its competition. In fact, the Coop was founded in 1882 for the very purpose of giving undergraduates a store in the Square that priced below the monopoly prices of the other merchants. "We make every effort...
...department said it agreed to pay the theatre company for the cancelled performances and to refund the money of students who bought tickets in advance. The department added that it will try to arrange a return engagement for Julian Beck's group at a theatre in Boston...
...week's paychecks reflected an extra 10% tax on the tax they had already been paying. Because the surtax is retroactive to April 1 for individuals, some will discover at income tax filing that they have to pay more than has been deducted. Those who normally receive a refund will find the Government check is smaller. Since it will cover only nine months, the surtax for the full calendar year 1968 will be 7.5%. Corporations get the full treatment. For them, the retroactivity extends back...
...Ramsey Clark?" asked the flabbergasted IRS agent. "Yes," nodded the Attorney General of the United States, who then quietly turned back to his papers. The error, as it turned out, was in Clark's favor; he had paid too much in 1967 taxes, and collected a $500 refund from the Government...