Tax Rules Relating To Puerto Rico Under Present Law And Under Statehood Independence And Enhanced Commonwealth Status S 712 Puerto Rico Status Re

Author : U. S. Joint Committee On Taxation
Publisher : Forgotten Books
ISBN 13 : 9780656217861
Total Pages : 20 pages
Book Rating : 4.2/5 (178 download)

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Download or read book Present-Law Tax Rules and Proposed Committee Amendment Under S. 712, Puerto Rico Status Referendum ACT: Markup Consideration by Senate Committee on Fi written by U. S. Joint Committee On Taxation and published by Forgotten Books. This book was released on 2018-02-10 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Present-Law Tax Rules and Proposed Committee Amendment Under S. 712, Puerto Rico Status Referendum Act: Markup Consideration by Senate Committee on Finance on August 1, 1990 Revenues collected from the tax on certain articles coming into the United States from Puerto Rico generally are covered over paid) to the Puerto Rican Treasury. With respect to otherwise eligible excise taxes imposed on articles not containing distilled spirits, revenues are covered over to Puerto Rico only if the cost or value of materials produced in Puerto Rico plus the direct costs of processing Operations performed in Puerto Rico equal at least 50 percent of the value of the article at the time it is brought into the United States (sec. Moreover, no cover over is permitted on such articles if Puerto Rico provides a direct or indirect subsidy with respect to the article which is unlike the subsidies which Puerto Rico generally offers to industries producing articles not subject to Federal excise tax (sec. With respect to Federal excise taxes imposed on articles containing distilled spirits that are manufactured in Puerto Rico and shipped into the United States, revenues are covered over to the Puerto Rican Treasury only if at least 92 percent of the alcoholic content of such articles is attributable to rum (sec. The amount of excise taxes covered over to Puerto Rico from such articles cannot exceed per proof gallon (sec. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.