excess profits tax

In 1921 the excess profits tax was repealed despite powerful attempts to make it permanent.

In 1933 and 1935 Congress enacted two mild excess profits taxes as supplements to a capital stock tax.

Mellon obtained repeal of the wartime excess profits tax.

An excess profits tax was introduced and the modern estate tax was imposed.

Societies were also required to pay excess profits tax, although their co-operative nature meant they made no profits.

But many members who voted to override were focusing on oil; the trade bill would have repealed the oil industry's excess profits tax.

In 1949, he "sent letters to all members of Congress urging them to vote against socialized medicine, federally subsidized housing, and an excess profits tax."

Attempts to prohibit excessive war profiteering, such as the imposition of an excess profits tax, receive much political support in wartime.

The company had saved the profits, predicting that it would need them to cover income tax and excess profits tax.

In the United States, an excess profits tax is a tax, some say excise tax, on any profit above a certain amount.

The 35-60% graduated rate schedule for excess profits tax was replaced with a flat 90% rate.

In 1863 the Confederate congress and the state of Georgia experimented with excess profits taxes, perhaps, the first time it has happened in American history.

Turnover had multiplied many times but much of the benefit had been taken by the Government in Excess Profits Tax.

In 1991 some members of Congress sought unsuccessfully to pass an excess profits tax of 40 percent upon the larger oil companies as part of energy policy.

This removed free competition and therefore kept prices down; as British companies, the main copper producers were also subject to the Excess Profits Tax.

The Korean War induced Congress to reimpose an excess profits tax, effective from 1 July 1950 to 31 December 1953.

In the week before the Christmas holidays, it completed work on an $18 billion defense supplemental appropriations bill, the excess profits tax, and a civil defense program.

The return of peace also meant that the company had to face the problem of dealing with its liabilities under the excess profits tax of 1 July 1916.

The President also asked Congress to act on an excess profits tax, an extension of federal rent controls, and statehood for Hawaii and Alaska.

In the Korean War, income tax rates were raised to the levels of World War II, and a new excess profits tax was enacted.

I address myself wholly and simply to the proposal that there should be some form of excess profits tax - that profits above a certain level should be taxed away.

Edwards had been a critic of the Excess Profits Tax during the war, and called for its abolition after the end of the war, a campaign he continued despite Government resistance.

After America entered the Great War he was adviser to the U.S. Treasury Department regarding the interpretation of the income tax and the excess profits tax laws.

The Canada Customs and Revenue Agency took issue with this accounting change, and in 1947 sued to recover tax revenues under the Excess Profits Tax Act of 1940.

A Excess Profits Tax was levied on the excess profits net income (i.e., net income less allowances and exemptions) of corporations as shown in the following table.