From Wikipedia, the free encyclopedia
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Revenue Act of 1950" – news · newspapers · books · scholar · JSTOR (December 2009) (Learn how and when to remove this message) |
The United States Revenue Act of 1950 eliminated a portion of the individual income tax rate reductions from the 1945 and 1948 tax acts, and increased the top corporate rate from 38 percent to 45 percent.
This act changed the law regarding tax exempt organizations. It introduced the concept of Unrelated Business Income Tax, denied exemption to certain foundations and trusts, and denied deductions to donors of some organization which failed to meet certain standards.[1]
References
[edit]- ^ Finkelstein, Maurice (January 1952). "Tax Exempt Charitable Corporations: Revenue Act of 1950". Michigan Law Review. 50 (3): 427–434. doi:10.2307/1284542. JSTOR 1284542.
External links
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