Section 631

Section 631 a transaction election to treat cutting as a sale timber owners who cut timber for use in their own trade or business can under certain conditions obtain partial capital gains treatment by electing to treat the cutting as a sale under the provisions of section 631 a of the internal revenue code.

Section 631. If the person has previously been convicted of a violation of this section or section 632 632 5 632 6 632 7 or 636 he or she is punishable by a fine not exceeding ten thousand dollars 10 000 or by imprisonment in the county jail not exceeding one year or by imprisonment pursuant to subdivision h of section 1170 or by both that fine. First lieutenants and lieutenants junior grade. Effect of failure of selection for promotion.

101 239 struck out except the provisions of section 623 g of this title after in this chapter. 631 031 operates as a matter of law as an automatic stay applicable to all persons and entities other than the receiver which shall be permanent and survive the entry of an order of conservation rehabilitation or liquidation and which shall prohibit. For purposes of determining whether the taxpayer may make a further election under such section such election and any revocation under this paragraph shall not be taken into account.

A his distributive share of partnership income gain. Any election under section 631 a of the internal revenue code of 1986 made for a taxable year ending on or before the date of the enactment of this act may be revoked by the taxpayer for any taxable year ending after such date. 99 592 2 c 1 which directed that but less than seventy years of age be struck out was executed by striking out but less than 70 years of age after 40 years of age as the probable intent of.

1 section 631 a provides an election to certain taxpayers to treat the difference between the actual cost or other basis of certain timber cut during the taxable year and its fair market value as standing timber on the first day of such year as gain or loss from a sale or exchange under section 1231. 1 the net amount of items of income gain loss and deduction entering into his federal adjusted gross income as defined in the laws of the united states for the taxable year derived from or connected with new york sources including.