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USC Title 26 enacted through 2008

§ 4672. Definitions and special rules

Taxable substance
For purposes of this subchapter -
In general
The term "taxable substance" means any substance which, at the time of sale or use by the importer, is listed as a taxable substance by the Secretary for purposes of this subchapter.
Determination of substances on list
A substance shall be listed under paragraph (1) if -
the substance is contained in the list under paragraph (3), or
the Secretary determines, in consultation with the Administrator of the Environmental Protection Agency and the Commissioner of Customs, that taxable chemicals constitute more than 50 percent of the weight (or more than 50 percent of the value) of the materials used to produce such substance (determined on the basis of the predominant method of production).
If an importer or exporter of any substance requests that the Secretary determine whether such substance be listed as a taxable substance under paragraph (1) or be removed from such listing, the Secretary shall make such determination within 180 days after the date the request was filed.
Initial list of taxable substances
CumeneMethylene chloride
Ammonium nitratePropylene glycol
Nickel oxideFormaldehyde
Isopropyl alcoholAcetone
Ethylene glycolAcrylonitrile
Vinyl chlorideMethanol
Polyethylene resins, totalPropylene oxide
PolybutadienePolypropylene resins
Styrene-butadiene, latexEthylene oxide
Styrene-butadiene, snpfEthylene dichloride
Synthetic rubber, not containing fillersCyclohexane
UreaIsophthalic acid
FerronickelMaleic anhydride
Ferrochromium nov 3 pctPhthalic anhydride
Ferrochrome ov 3 pct. carbonEthyl methyl ketone
Unwrought nickelChloroform
Nickel waste and scrapCarbon tetrachloride
Wrought nickel rods and wireChromic acid
Nickel powdersHydrogen peroxide
Phenolic resinsPolystyrene homopolymer resins
Polyvinylchloride resinsMelamine
Polystyrene resins and copolymersAcrylic and methacrylic acid resins
Ethyl alcohol for nonbeverage useVinyl resins
EthylbenzeneVinyl resins, NSPF.
Modifications to list
The Secretary shall add to the list under paragraph (3) substances which meet either the weight or value tests of paragraph (2)(B) and may remove from such list only substances which meet neither of such tests.
Other definitions
For purposes of this subchapter -
The term "importer" means the person entering the taxable substance for consumption, use, or warehousing.
Taxable chemicals; United States
The terms "taxable chemical" and "United States" have the respective meanings given such terms by section 4662(a).
Disposition of revenues from Puerto Rico and the Virgin Islands
The provisions of subsections (a)(3) and (b)(3) of section 7652 shall not apply to any tax imposed by section 4671.

Tax Code (Internal Revenue Code) Section Index

U.S. GAAP by Codification Topic
105 GAAP Hierarchy
105 GAAP History

205 Presentation of Financial Statements
205-20 Discontinued Operations
210 Balance Sheet
210-20 Offsetting
220 Comprehensive Income
225 Income Statement
225-20 Extraordinary and Unusual Items
230 Statement of Cash Flows
250 Accounting Changes and Error Corrections
260 Earnings per Share
270 Interim Reporting

310 Impairment of a Loan
320 Investment Securities
320 Other-Than-Temporary Impairments, FSP FAS 115-2
320-10-05 Overview of Investments in Other Entities
320-10-35 Reclassification of Investments in Securities
323-10 Equity Method Investments
323-30 Investments in Partnerships and Joint Ventures
325-20 Cost Method Investments
330 Inventory

340-20 Capitalized Advertising Costs
350-20 Goodwill
350-30 Intangibles Other than Goodwill
350-40 Internal-Use Software
350-50 Website Development Costs
360 Property, Plant and Equipment
360-20 Real Estate Sales

410 Asset Retirement and Environmental Obligations
420 Exit or Disposal Cost Obligations
450 Contingencies
450-20 Loss Contingencies
450-30 Gain Contingencies
480 Redeemable Financial Instruments

505-20 Stock Dividends, Stock Splits
505-30 Treasury Stock

605 SEC Staff Accounting Bulletin, Topic 13
605-25 Revenue Recognition - Multiple Element Arrangements

715-30 Defined Benefit Plans - Pension
718 Share-Based Payment
730 Research and Development
730-20 Research and Development Arrangements

805 Business Combinations
810 Consolidation
810 Noncontrolling Interests
810 Consolidation of Variable Interest Entities, SFAS 167

815 Derivatives and Hedging Overview

820 Fair Value Measurements
820 Fair value when the markets are not active, FSP FAS 157-4
825 Fair Value Option

830 Foreign Currency Matters
830-20 Foreign Currency Transactions
830-30 Translation of Financial Statements
835 Interest
835-20 Capitalization of Interest
835-30 Imputation of Interest

840 Leases
840-20 Operating Leases
840-30 Capital Leases
840-40 Sale-Leaseback Transactions
845 Nonmonetary Transactions

855 Subsequent Events
860-20 Sale of Financial Assets, SFAS 166
860-50 Servicing Assets and Liabilities, SFAS 156

985-20 Costs of software to be sold

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Tax Code (Internal Revenue Code) Section Index

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