Report Outline
Amortization of Defense Plant Costs
Tax Treatment of Ordinary Depreciation
Depreciation Problems in Public Utilities
Special Focus
Amortization of Defense Plant Costs
Authority for rapid amortization of the costs of industrial facilities affected with a defense interest moved a step closer to extinction, Aug. 12, when the Senate approved legislation to impose immediate restrictions on the practice and to terminate it completely by Dec. 31, 1959. The program of so-called fast tax write-offs, introduced in World War II to spur expansion of production facilities and revived in 1950 after outbreak of the Korean war, had already been drastically scaled down. However, the Office of Defense Mobilization, which administers the program, urged that it be continued in a few fields.
Instead, the Senate tacked on to a minor House-passed tax bill a measure by Finance Committee Chairman Harry F, Byrd (D-Va.), which embodies only limited concessions to O.D.M. views. Although allowing certifications for rapid tax amortization in a narrowly restricted area for two more years, the proposed legislation takes no account of O.D.M. Director Gordon Gray's plea that the President be authorized to reopen the program in an emergency.
Fast tax write-offs have the effect of deferring payment of substantial amounts of corporation income taxes. Although the corporations benefiting from current deferrals pay bigger taxes later, the federal government suffers a temporary loss of revenue. As a result, it is forced either to pay interest on money borrowed to make up the difference or to put off tax cuts which otherwise could be made. Either way, the general taxpayer bears the burden until the time when, plant costs having been written off at an accelerated rate, there is an offsetting increase in tax revenue from corporations during the remaining useful life of the facilities. |
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Feb. 07, 2020 |
Hidden Money |
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Jun. 28, 2013 |
Internet Shopping |
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Jan. 16, 1998 |
IRS Reform |
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Mar. 22, 1996 |
Tax Reform |
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Apr. 06, 1990 |
How Fair Is the Nation's Tax Burden? |
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Aug. 28, 1987 |
Taxing Business Services |
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Oct. 17, 1986 |
Tax Reform In The States |
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Sep. 28, 1984 |
Tax Debate: 1984 Election and Beyond |
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Mar. 19, 1982 |
Tax-Exemption Controversy |
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May 19, 1978 |
Property Tax Relief |
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Apr. 07, 1978 |
Tax Shelters and Reform |
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Feb. 10, 1971 |
Property Tax Reform |
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Mar. 26, 1969 |
Tax Reform Pressures |
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Mar. 24, 1965 |
Excise Tax Cuts and the Economy |
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Feb. 15, 1961 |
Flexible Taxation |
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Apr. 02, 1959 |
State Tax Problems |
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Apr. 23, 1958 |
Tax Reduction, 1958 |
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Aug. 14, 1957 |
Fast Tax Write-Offs |
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Apr. 10, 1957 |
Federal Payments in Lieu of Taxes |
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Sep. 12, 1956 |
Corporation Profits and Taxes in Prosperity |
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Mar. 16, 1954 |
Shares in Tax Relief |
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Nov. 21, 1953 |
Revision of Excise Taxes |
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Mar. 19, 1953 |
Federal-State Tax Relations |
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Oct. 01, 1952 |
European Taxes and Tax Evasion |
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Nov. 03, 1950 |
Excess Profits Tax |
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Feb. 01, 1950 |
Tax Loopholes |
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Jun. 04, 1949 |
Excise Taxes |
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Oct. 27, 1948 |
Postwar Sales Taxes |
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Aug. 29, 1947 |
Taxation of Family Income |
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Apr. 09, 1947 |
Income Tax Relief |
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Jan. 11, 1946 |
Taxation of Cooperatives |
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Oct. 16, 1945 |
Federal Taxes on Business |
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May 08, 1944 |
Postwar Taxes |
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Sep. 20, 1943 |
Sales Taxes |
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Dec. 05, 1941 |
New Taxes for Defense |
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Apr. 05, 1941 |
Taxation for National Defense |
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Feb. 28, 1941 |
Taxation of Alcoholic Beverages |
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Jan. 11, 1941 |
Exemptions from Taxation |
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Dec. 04, 1940 |
Federal Taxes and Defense Financing |
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Feb. 01, 1940 |
Sharing of Tax Revenues |
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Feb. 02, 1939 |
Turnover Taxes in the States |
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Nov. 05, 1937 |
Broadening of the Income-Tax Base |
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Jun. 17, 1937 |
Exemptions from Income Taxation |
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Apr. 05, 1937 |
Coordination of Federal and State Tax Systems |
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Dec. 19, 1936 |
Revision of Federal Tax on Capital Gains |
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Nov. 02, 1936 |
State Taxation of Natural Resources |
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May 26, 1936 |
Assessment of Property for Taxation |
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Apr. 17, 1936 |
Federal Taxes on Consumption |
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Mar. 19, 1936 |
Taxation of Undistributed Corporate Profits |
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Dec. 17, 1935 |
Reduction of Tax Burdens on Real Estate |
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Oct. 21, 1935 |
Tax Delinquency in the United States |
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May 21, 1935 |
Comparative Tax Burdens in America and Britain |
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Feb. 01, 1935 |
Federal Taxation of Corporations |
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Nov. 27, 1934 |
Elimination of Conflicts in Taxation |
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Jul. 25, 1933 |
Taxation of Excess Profits |
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Jan. 25, 1933 |
Tax Burdens and Tax-Free Securities |
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Nov. 23, 1932 |
The Beer Tax and the Sales Tax |
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Dec. 19, 1931 |
Sales Taxes: Federal, State, and Foreign |
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Sep. 18, 1931 |
Death Taxes and the Concentration of Wealth |
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Mar. 18, 1931 |
Federal Taxation of Large Incomes |
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Jan. 10, 1931 |
Taxation of Capital Gains |
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Nov. 09, 1929 |
Federal Tax Reduction-1930 |
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Aug. 08, 1927 |
Federal Tax Reduction—1928 |
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Sep. 27, 1926 |
Tax Reduction and the Public Debt |
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Jan. 16, 1926 |
Taxation of Estates and Inheritances |
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Nov. 07, 1925 |
Federal Taxation of Small Incomes |
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Nov. 28, 1924 |
Social, Fiscal and Legal Aspects of the Inheritance Tax |
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Apr. 07, 1924 |
Causes and Effects of the Tax Return Blockade |
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Dec. 12, 1923 |
Tax Exempt Securities |
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Dec. 10, 1923 |
Taxation |
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