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1,388 records in US in 1979
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to require annual inflation adjustments (based on gross national product deflator adjustments) to corporate income tax rates.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to provide identical income tax rates for single persons and married couples filing joint returns. Limits the earned income that must be reported by a married person filing a separate return to the amount actually earned by that individual.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue code to allow a tax credit equal to 50 percent of the excess of the eligible net savings (net savings in excess of certain types of debt) of a taxpayer for the taxable year over a specified percentage of the taxpayer's adjusted gross income. Specifies types of savings accounts which qualify for the credit. Increases taxpayer liability (except for individuals who attain age 65) if the taxpayer's eligible net saving is less than zero for a taxable year. Provides for an inflation adjustment to the taxpayer's adjusted gross income for purposes of determining the allowable amount of credit.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to exclude from gross income compensation received by a volunteer fire fighter for service as a member of a State or local fire department.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to require an annual cost-of-living adjustment, based on the Consumer Price Index, to the individual income tax rates and the personal exemption.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to require a cost-of-living adjustment, based on the Consumer Price Index, to the adjusted basis of a capital asset at the time of its sale or exchange, for purposes of determining gain or loss on such asset.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to deny an income tax deduction for any expenses paid or incurred to advertise products which are sold with health warnings.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to impose a minimum ten percent tax on personal net income which exceeds $30,000 for any taxable year.
United States · United States Congress · 15 January 1979
Tax Consistency Act of 1979 - Amends the Internal Revenue Code to lower the corporate income tax rates. Replaces the present rate structure with a graduated, five-tier schedule, imposing the uppermost (38 percent) marginal rate upon income in excess of $100,000. Repeals the investment tax credit. Repeals the provisions excluding from gross income interest on the obligations of a State, a territory, or a possession of the United States. Eliminates the declining balance and sum-of-the-years digit methods of computing allowable depreciation expense. Limits deductions for such depreciation to amounts determined by a replacement cost straight line method, as formulated by this Act, or by any other consistent method which does not yield an amount which exceeds the total amount allowed under the replacement cost straight line method during the first two-thirds of the property's useful life. Repeals the allowance for deductions with respect to the amortization of any certified pollution control facility based on a period of 60 months. Repeals the allowance for deductions of intangible drilling and development costs for oil and gas wells. States that the last taxable year in which financial institutions may use the percentage method of computing additions to bad debt reserves shall be the taxable year beginning before 1980 instead of 1988, as is currently provided. Repeals the existing percentages allowed for depletion of mines, wells, and specified natural deposits, and the percentages allowed for oil and gas wells. Specifies those treatment processes for mineral deposits which are considered mining, and those which are not so considered, for the purposes of the percentage depletion allowance. Repeals special capital gains treatment of income from certain timber, coal, or iron ore operations. Repeals the allowance for special deductions for domestic corporations which do business in North, Central, or South America, or in the West Indies, and derive a certain percentage of their gross income from outside the United States. Repeals provisions allowing special tax treatment for Domestic International Sales Corporations (DISC). Repeals provisions of the Merchant Marine Act of 1936 which permit domestic shipping companies to exclude from gross income amounts deposited in the capital construction fund for the purpose of building new vessels. Establishes an income tax credit for contributions to an employee stock ownership plan. Limits such credit to one-half of one percent of the taxpayer's tax liability for the taxable year. Sets forth requirements for the establishment of such plans.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to deny an income tax deduction for any expenses paid or incurred to advertise alcoholic beverages.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to allow individual taxpayers a limited income tax credit for their college or vocational education expenses. Reduces the amount of such credit by one percent of the amount by which the adjusted gross income of the taxpayer for the taxable year exceeds $22,500. Permits a credit for tuition and fees for education above the twelfth grade level, and for books, supplies, and equipment required for coursework. Excludes expenses for meals, lodging, and similar living expenses.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to provide identical income tax rates for single persons and married couples filing joint returns. Limits the earned income that must be reported by a married person filing a separate return to the amount actually earned by that individual.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to allow individuals or married couples a $5,000 exclusion from gross income for any amount received as an annuity, pension, or other retirement benefit.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to increase the individual income tax credit for the elderly and to increase the adjusted gross income limitation on such credit.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to provide identical income tax rates for single persons and married couples filing joint returns. Limits the earned income that must be reported by a married person filing a separate return to the amount actually earned by that individual.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to prohibit the Internal Revenue Service from terminating the tax-exempt status of an educational institution for reasons of racial discrimination unless such organization has been adjudicated as racially discriminatory by a State or Federal court.
United States · United States Congress · 15 January 1979
Adds to the Congressional Budget Act of 1974 a new title (Title XI: Regulatory Budget Procedure) to require Congress, on or before September 15 of each year, to complete action on a concurrent resolution which establishes a regulatory budget for each Federal agency that sets the maximum costs of compliance with all rules and regulations declared by the agency. Directs the President to establish a Business Advisory Council to include representatives of each major industrial and commercial sector, and each geographic region, to provide such information, advice and consultation as he may require to develop and carry out regulatory costs analysis procedures. Directs the President, in consultation with the Council, to formulate the criteria for determining the costs of compliance with Federal rules and regulations. Requires the head of each agency, using such criteria, to conduct a study of the costs of compliance with rules and regulations set forth by the agency and to submit such reports to the President, Congress, and the Comptroller General. Directs the Comptroller General to review such agency reports and to submit its findings to Congress. Requires the President to include regulatory budget recommendations in the Budget to Congress. Directs Congress to utilize such findings and recommendations in developing the regulatory budget for each agency. Requires Congressional committee reports on bills or resolutions to contain a statement of the estimate of the costs of compliance with agency rules or regulations to carry out the provisions of such bill or resolution. Sets forth the rules for consideration of any bill, resolution, or amendment that would cause the level of costs of compliance for any agency to exceed the maximum costs of compliance as established in the regulatory budget for the agency.
United States · United States Congress · 15 January 1979
Amends title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act and the Internal Revenue Code to reduce tax rates below the level established by the Social Security Amendments of 1977 on employment income for both employers and employees and on self-employment income. Increases Federal contributions to the Federal Old Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, and the Federal Hospital Insurance Trust Fund established under title XVIII (Medicare) of the Social Security Act by gradually increasing such contributions by 50 percent by 1984. Increases the ceiling on the amount of income that is subject to social security taxation to $100,000 in 1980.
United States · United States Congress · 15 January 1979
Amends the Internal Revenue Code to repeal the carryover basis provisions enacted by the Tax Reform Act of 1976 which provide that beneficiaries receiving property from a decedent's estate will retain the decedent's basis in the property. Restores prior law which "stepped up" or "stepped down" the property's basis to its market value at the time of death without imposing tax consequences on the appreciation or depreciation the property underwent while held by the decedent.
United States · United States Congress · 15 January 1979
Elementary and Secondary Education Tuition Tax Credit Act of 1979 - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 25 percent of the tuition paid for the elementary or secondary education of the taxpayer or any of his dependents. Allows a maximum $100 credit in 1979 and a maximum $200 credit in 1980, after which the credit expires. Treats tuition payments as paid for calendar years 1979 and 1980 if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Defines full-time and qualified half-time student. Excludes from the definition of "expenses of elementary and secondary education" any amounts paid for books, supplies, meals, lodging, transportation, and education below the first-grade level, or for attendance at a kindergarten or nursery. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.
United States · United States Congress · 15 January 1979
Elementary and Secondary Tuition Tax Credit Act of 1979 - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 25 percent of the tuition paid for the elementary or secondary education of the taxpayer, his spouse, or any of his dependents. Allows a maximum $100 credit in 1979 and a maximum $150 credit in 1980 and 1981, after which the credit expires. Treats tuition payments as paid for calendar year 1979 only if such payments are made on or after August 1, 1979, and before February 1, 1980, for education furnished on or after August 1, 1979, and before January 1, 1980. Treats tuition payments as paid for calendar years 1980 and 1981 only if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Defines full-time and qualified half-time student. Excludes from the definition of "tuition" any amounts paid for books, supplies, meals, lodging, transportation, and education below the first-grade level or above the twelfth-grade level. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an elementary or secondary school. Provides for the immediate certification of any judicial action brought in a United States district court concerning the constitutionality of this Act to the appropriate circuit court of appeals. Authorizes direct appeal to the Supreme Court of any decision by a circuit court. Requires the expedited consideration of such a case at both judicial levels. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.
United States · United States Congress · 15 January 1979
Interstate Taxation Act - Title I: Jurisdiction to Tax - Establishes uniform standards for the taxation by States of interstate business enterprises. Prohibits a State or its political subdivision from: (1) imposing a net income tax or capital stock tax on a corporation unless such corporation has a business location in the State; (2) requiring an individual to collect a sales or use tax unless such individual has a business location or regularly makes household deliveries in the State; or (3) imposing a gross receipts tax on the sale of tangible personal property unless the seller has a business location in the State. Title II: Maximum Percentage of Income or Capital Attributable to Taxing Jurisdiction - Prohibits a State or its political subdivisions from imposing upon a corporation (other than an excluded corporation) with a business location in more than one State a net income tax which is greater than that amount calculated under a specified two-factor property, payroll apportionment formula. Defines the property factor as a fraction, the numerator of which is the average value of the corporation's property in a State and the denominator being the average value of all the corporation's property located in any State in which the corporation has a business location. Values owned property at its original cost. Values leased property at eight times the gross rents payable by the corporation. Excludes property which has been permanently retired from use and tangible personal property rented out by the corporation to another person for one year or more. Defines the payroll factor as a fraction, the numerator being wages paid in the State, and the denominator being the wages paid to all employees in any State. Permits a State to impose a capital account tax upon a domiciliary corporation without division of capital, notwithstanding the jurisdictional standards and limits on attribution otherwise promulgated by this Act. Title III: Sales and Use Taxes - Permits a State to impose a sales tax or require a seller to collect a sales or use tax on the interstate sale of tangible personal property if the destination of the sale is in that State or in a State or political subdivision for which the tax is required to be collected. Prohibits a State from imposing a use tax on the tangible personal property of persons without a business location or individuals without a dwelling place in that State. Permits States to collect sales and use taxes on motor vehicles registered in such States and on the consumption of motor fuels, notwithstanding the jurisdictional standards promulgated by this Act. Prohibits a State from imposing a sales or use tax upon the cost or value of household goods, including motor vehicles, which an individual brings into that State upon establishing residence, if such goods were acquired 30 days or more before the individual established residence. Excludes freight charges on interstate sales which are separately stated from the sales price for purposes of determining the sales or use tax. Exempts a seller of tangible personal property in interstate commerce from liability for the collection or payment of a sales or use tax if he obtains from his buyer identification that the buyer is registered with the jurisdiction imposing the sales of use tax to collect or pay such tax, or a certificate indicating that the seller is exempt from the payment of such tax in that jurisdiction. Title IV: Evaluation of State Progress - Requires the Committee on the Judiciary of the House of Representatives and the Committee on Finance of the Senate to evaluate during the four years following the enactment of this Act, the progress which the States and their political subdivisions are making in resolving the problems arising from State taxation of interstate commerce, and to make proposals for the resolution of such problems if the State have not made substantial progress toward their resolution. Title V: Taxation of Individuals - Prohibits a State from taxing the income of an individual which was earned while such individual was not domiciled in such State (except to the extent that the income was earned from sources within the State), or which was earned from sources outside the State while the individual was domiciled in the State (except to the extent the tax exceeds any income tax paid on income to the State in which the income was earned). Title VI: Definitions and Miscellaneous Provisions - Defines "excluded corporation" to be corporation which derives more than 50 percent of its ordinary gross income from the business of transportation for hire, telephone or telegraph service, the sale of electrical energy, gas, or water, insurance, or banking; and which receives such income from dividends, interest, or royalties; which is a personal holding company, or which has an average annual income in excess of $1,000,000. Prohibits a State from imposing upon any person a greater liability for sales, use, or gross receipts tax on transactions which occur outside the State than for transactions which occur within such State. Prohibits a State from charging a taxpayer for the cost of conducting an audit outside the State for a tax to which this Act applies. Prohibits a State from assessing taxes against any person for any period prior to the enactment of this Act.
United States · United States Congress · 15 January 1979
Higher Education Tuition Tax Credit Act of 1979 - Amends the Internal Revenue Code to allow individual taxpayers an income tax credit for 25 percent of the tuition paid for the college or post-secondary vocational education of the taxpayer, his spouse, or any of his dependents. Allows a maximum credit of $250 in 1979 and $500 in 1980, after which the credit expires. Treats tuition payments as paid for calendar years 1979 and 1980 if such payments are made during the particular calendar year or within one month of the beginning or close of such calendar year for education furnished during that year. Excludes graduate students from eligibility for the credit. Requires full-time or qualified half-time attendance at an eligible educational institution (college or post-secondary vocational school). Excludes from the definition of "tuition" any amounts paid for books, supplies, and equipment for courses of instruction, or meals, lodging, transportation, and other living expenses. Forbids any construction of this Act as granting the Government additional authority to examine the books or activities of any church school except to the extent necessary to determine whether such school is an eligible educational institution. Requires the disregard of any amount received by the taxpayer as a tuition tax credit for purposes of determining the eligibility of the taxpayer for Federal or State educational assistance.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Requires the President to annually compute the gross national product of the United States. Limits the expenditures of the Government in any year to 20 percent of the gross national product of the preceding year. Requires the United States to maintain a balanced budget each year. Permits such limitations to be suspended during a period of grave national emergency or time of war by a concurrent resolution agreed to by two-thirds of the authorized membership of each House of Congress.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Requires any change in the U.S. tax law to increase Federal revenue to be approved by not less than two-thirds of all Members of Congress.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Requires any change in the U.S. tax law to increase Federal revenue to be approved by not less than two-thirds of all Members of Congress.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Prohibits Congress from enacting legislation which will cause Federal taxation to exceed 15 percent of the gross national product. Prohibits the making of appropriations in excess of the total estimated revenues of the United States in any fiscal year except in time of war or national emergency.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Requires any change in the U.S. tax law to increase Federal revenue to be approved by not less than two-thirds of all Members of Congress.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Prohibits Congress from enacting legislation which will cause Federal taxation to exceed 15 percent of the gross national product. Prohibits the making of appropriations in excess of the total estimated revenues of the United States in any fiscal year except in time of war or national emergency.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Provides that total expenditures in any fiscal year shall not exceed the net amount of revenue received by the Government in that year. Authorizes the suspension of such prohibition in time of war or by a concurrent resolution passed by the Senate and the House stating that a national economic emergency requires such suspension.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Provides that total expenditures in any fiscal year shall not exceed the net amount of revenue received by the Government in that year. Authorizes the suspension of such prohibition in time of war or by a concurrent resolution passed by the Senate and the House stating that a national economic emergency requires such suspension.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Prohibits the Federal Government's participation in any commercial or financial activity not specifically provided for in the Constitution. Repeals the Sixteenth Amendment (income tax). Prohibits taxes on personal income, gifts and estates.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Prohibits the Federal Government's participation in any commercial or financial activity not specifically provided for in the Constitution. Repeals the Sixteenth Amendment (income tax). Prohibits taxes on personal income, gifts and estates.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Prohibits total Federal expenditures from exceeding total receipts. Authorizes suspension of such prohibition for a congressional term in time of war or national emergency upon the concurrence of three-fourths of the Members of both Houses of Congress.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Provides that total expenditures in any fiscal year shall not exceed the net amount of revenue received by the Government in that year. Authorizes the suspension of such prohibition in time of war declared by Congress or by a concurrent resolution passed by a two-thirds vote of both Houses of Congress. Stipulates that any unanticipated deficit in any fiscal year shall be considered an expenditure for the succeeding fiscal year. Directs the Congress to provide an appropriate increase in the level of total receipts if the amount of such deficit exceeds two percent of the total expenditures for the succeeding fiscal year. Authorizes the Congress to apportion any deficit over the four following fiscal years or, by a two-thirds vote of both Houses, to include such deficit in the debts of the United States.
United States · United States Congress · 15 January 1979
Constitutional Amendment - Provides that total expenditures in any fiscal year shall not exceed the net amount of revenue received by the Government in that year. Authorizes the suspension of such prohibition in time of war or by a concurrent resolution passed by the Senate and the House stating that a national economic emergency requires such suspension.
United States · United States Congress · 15 January 1979
Declares it the sense of Congress that: (1) the usurpation by the Internal Revenue Service of congressional authority to enact, amend, and repeal laws be denied; and (2) the proposed revenue procedure on private tax-exempt schools, which sets forth guidelines for determining whether such schools have forfeited their tax-exempt status through the adoption of racially discriminatory policies, not be adopted by the Internal Revenue Service.
United States · United States Congress · 15 January 1979
Expresses the sense of Congress that the Internal Revenue Service should not adopt the "Proposed Revenue Procedure on Private Tax-Exempt Schools", which sets forth guidelines for determining whether a private school has forfeited its tax-exempt status by the adoption of racially discriminatory policies.