Net Sales [ top ] Net sales is the total sales during the time period being analyzed minus any allowances for returns and trade discounts. The amount allowed for returns will necessarily vary considerably between different types of businesses.
Effect on earnings and profits a General ruleExcept as otherwise provided in this section, on the distribution of property by a corporation with respect to its stock, the earnings and profits of the corporation to the extent thereof shall be decreased by the sum of— 1 the amount of money, 2 the principal amount of the obligations of such corporation or, in the 2 and profit of obligations having original issue discountthe aggregate issue price of such obligationsand 3 the adjusted basis of the other propertyso distributed.
For purposes of this subsection and subsection athe adjusted basis of any property is its adjusted basis as determined for purposes of computing earnings and profits.
Gain or loss so realized shall increase or decrease the earnings and profits to, but not beyond, the extent to which such a realized gain or loss was recognized in computing taxable income under the law applicable to the year in which such sale or disposition was made.
Where, in determining the adjusted basis used in computing such realized gain or loss, the adjustment to the basis differs from the adjustment proper for the purpose of determining earnings and profits, then the latter adjustment shall be used in determining the increase or decrease above provided.
For purposes of this subsection, a loss with respect to which a deduction is disallowed under section relating to wash sales of stock or securitiesor the corresponding provision of prior law, shall not be deemed to be recognized. A no such increase shall be made in respect of the part of such distribution which under such law is directly applied in reduction of the basis of the stock in respect of which the distribution was made; and B no such increase shall be made if under such law the distribution causes the basis of the stock in respect of which the distribution was made to be allocated between such stock and the property received or such basis would, but for section bbe so allocated.
For purposes of paragraph 2the adjusted basis of the property at the time of distribution shall be determined without regard to any adjustment under section a 2 relating to adjustment for depreciation, etc.
For purposes of this subsection, a commitment to make, guarantee, or insure a loan shall be treated as the making, guaranteeing, or insuring of a loan.
B Treatment of amounts deductible under sectionB, C, D, or E For purposes of computing the earnings and profits of a corporationany amount deductible under sectionBCDor E shall be allowed as a deduction ratably over the period of 5 taxable years beginning with the taxable year for which such amount is deductible under sectionB, C, D, or E, as the case may be.
B Mineral exploration and development costsAny amount allowable as a deduction under section a or in determining taxable income— i shall be capitalized, and ii shall be allowed as a deduction ratably over the month period beginning with the later of— I the month in which production from the deposit begins, or II the month in which such amount was paid or incurred.
References in Text Section A f 4 Breferred to in subsec. Prior to amendment, text read as follows: See Amendment note below.
C and struck out former subpar. C which read as follows: Prior to amendment, par.DETROIT — As General Motors reported a healthy $ billion third-quarter profit, the Detroit automaker ramped up its cost-cutting efforts by offering buyouts to 18, white-collar workers. Learn how to calculate gross profit with fixed and variable costs.
Methods to compute gross profit margins and markups to help your business today. Video Podcasts Start A Business Subscribe Books. On Season 5 of The Profit, investor Marcus Lemonis travels to Santa Monica, California to check out The Casery.
It’s a start-up that designs and sells $32 fashion-forward cellphone cases. Civil forfeiture laws pose some of the greatest threats to property rights in the nation today, too often making it easy and lucrative for law enforcement to take and keep property—regardless of the owner’s guilt or innocence.
This updated and expanded second edition of Policing for Profit: The Abuse of Civil Asset Forfeiture makes the.
(2) Effect on earnings and profits of receipt of tax-free distributions Where a corporation receives (after February 28, ) a distribution from a second corporation which (under the law applicable to the year in which the distribution was made) was not a taxable dividend to the shareholders of the second corporation, the amount of such.
The E-2 nonimmigrant classification allows a national of a treaty country (a country with which the United States maintains a treaty of commerce and navigation) to be admitted to the United States when investing a substantial amount of capital in a U.S. business. Certain employees of such a person.