In the first basket all corporations earning $25,000 or less were exempted entirely from the undistributed profits tax.
Result was a compromise on a 7% undistributed profits tax (except for banks, trust companies, insurance companies and certain corporations).
It allowed no exemption from the undistributed profits tax on any portion however small of a corporation's profits retained for reserves, set the tax on undistributed profits on .
Thousands file claims on Ky. woman's estate NICHOLASVILLE, Ky. (AP) - In the nine months since Jewell Robbins died, thousands have filed claims seeking a piece of the Kentucky woman's estate. The Lexington Herald-Leader ( http://bit.ly/1c4GaGX ) reports those filing claims are seeking a return on the money they invested with Robbins in hopes of receiving undistributed royalties from a Texas oil strike.
June 22, 2013 - Your Hometown Lima Stations