Matches in SemOpenAlex for { <https://semopenalex.org/work/W1566349053> ?p ?o ?g. }
Showing items 1 to 49 of
49
with 100 items per page.
- W1566349053 endingPage "28" @default.
- W1566349053 startingPage "28" @default.
- W1566349053 abstract "Congress has developed a concept of excess profits during the past three years, vague on some points but fairly definite on others. It is not expressed in summary form anywhere in the four revenue laws that have initiated and revised the excess profits tax; the present paper is an attempt to distill it out and compare it with concepts designed for peacetime taxation.1 Implicit Distinction Between War Profits and Other Profits.-Although the tax law makes no formal distinction between profits due to the war and all other profits, it is evidently intended to reach only the former. The taxpayer .is given the option to use either the base-period method or the invested-capital method, whichever results in the smaller tax.2 As a consequence, the tax is not imposed on profits on the grounds that they are larger than they need to be to induce the firm to carry on at its existing level of output. If excessive profits in this sense were being received in the base period, they can be received in wartime free of the excess profits tax. Further evidence of the desire to tax only profits that are due to the war lies in the refinement of the base-period concept, discussed below, to approximate the peacetime earning power inherent in the corporation as it stood just before the defense effort of the United States got well under way. Moreover, even an increase in profits over the level of the base period is exempt if that level was very low in terms of per cent of invested capital. Specifically, the taxpayer's option referred to above means that the law exempts any increase in profits over those of the base period up to the point where the wartime earnings are 5? (ranging up to 8% for smaller firms) of invested capital. This provision might reflect" @default.
- W1566349053 created "2016-06-24" @default.
- W1566349053 creator A5034355496 @default.
- W1566349053 date "1943-01-01" @default.
- W1566349053 modified "2023-09-26" @default.
- W1566349053 title "The Concept of Excess Profits under the Revenue Acts of 1940-42" @default.
- W1566349053 doi "https://doi.org/10.2307/1190024" @default.
- W1566349053 hasPublicationYear "1943" @default.
- W1566349053 type Work @default.
- W1566349053 sameAs 1566349053 @default.
- W1566349053 citedByCount "2" @default.
- W1566349053 countsByYear W15663490532013 @default.
- W1566349053 crossrefType "journal-article" @default.
- W1566349053 hasAuthorship W1566349053A5034355496 @default.
- W1566349053 hasBestOaLocation W15663490532 @default.
- W1566349053 hasConcept C10138342 @default.
- W1566349053 hasConcept C144133560 @default.
- W1566349053 hasConcept C162324750 @default.
- W1566349053 hasConcept C190253527 @default.
- W1566349053 hasConcept C195487862 @default.
- W1566349053 hasConcept C556758197 @default.
- W1566349053 hasConceptScore W1566349053C10138342 @default.
- W1566349053 hasConceptScore W1566349053C144133560 @default.
- W1566349053 hasConceptScore W1566349053C162324750 @default.
- W1566349053 hasConceptScore W1566349053C190253527 @default.
- W1566349053 hasConceptScore W1566349053C195487862 @default.
- W1566349053 hasConceptScore W1566349053C556758197 @default.
- W1566349053 hasIssue "1" @default.
- W1566349053 hasLocation W15663490531 @default.
- W1566349053 hasLocation W15663490532 @default.
- W1566349053 hasOpenAccess W1566349053 @default.
- W1566349053 hasPrimaryLocation W15663490531 @default.
- W1566349053 hasRelatedWork W1541807514 @default.
- W1566349053 hasRelatedWork W172659435 @default.
- W1566349053 hasRelatedWork W2009849666 @default.
- W1566349053 hasRelatedWork W2108954098 @default.
- W1566349053 hasRelatedWork W2111348078 @default.
- W1566349053 hasRelatedWork W2282046754 @default.
- W1566349053 hasRelatedWork W2364339435 @default.
- W1566349053 hasRelatedWork W2899084033 @default.
- W1566349053 hasRelatedWork W3210320107 @default.
- W1566349053 hasRelatedWork W4255972572 @default.
- W1566349053 hasVolume "10" @default.
- W1566349053 isParatext "false" @default.
- W1566349053 isRetracted "false" @default.
- W1566349053 magId "1566349053" @default.
- W1566349053 workType "article" @default.