[United States National Company Form 1120, U. S. Corporation Income Tax Return: 1961] Page: 3 of 18
This report is part of the collection entitled: Harris and Eliza Kempner and was provided to The Portal to Texas History by the Rosenberg Library.
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Schedule H.-SUMMARY OF DEPRECIATION AND AMORTIZATION SCHEDULES
1. Straight line method:
(a) Assets acquired prior to 1/1/54. $ , 441. 0 .
(b) Assets acquired after 12/31/53 ..3.-... -...--8. Emergency facilities..................
2. Declining balance method...............----- .....------------- 9. Grain storage facilities.............................
3. Sum of the years-digits method.. .. _._-- ------10. Research or experimental expenditures.
4. Based on units of production--.--- -----_--------.-._11. Exploration and development expenditures--------
5. Addl. 1st year (Sec. 179)-.....---------__.:--------.12. Organizational expenditures.................................
6. Other methods...................__ 13. Trademark and trade name expenditures...
7. Total depreciation claimed......... " Us 14. Total amortization claimed.......... ... nappICa.bIe
Schedule I.-SPECIAL DEDUCTIONS
1. Partially tax-exempt interest (see Instruction 5).........................................................
2. Dividends-received:$580
(a) 85 percent of column 2, Schedule C...................................
(b) 62.115 percent of column 3, Schedule C...............................---------------------------------------
(c) 85 percent of dividends received from certain foreign corporations....... .
3. Total dividends-received deductions (sum of lines 2 (a), (b), and (c) but not to exceed 85 percent of the excess
of line 28, page 1 over the sum of lines 1 and 5). (See instructions in case of net operating loss or if the 51 . 08
corporation is. a small business investment company.)..................... ................. . . .........
4. Dividends paid on certain preferred stock of public utilities (see instructions in case of net operating loss) .
5. Western Hemisphere trade corporations (see instructions in case of net operating loss)....................._. __ ___
6. Total special deductions (enter here and on line 29(b), page 1) . ..0...8...-
TAX COMPUTATION SCHEDULE
1. (a) Line 30, page 1 " ) --.(b) plus line 1, Schedule I------.-------------Enter total here -*
2. If amount of line I is:
(a) Not over $25,000-Enter 30 percent of line 1 (32 percent if a consolidated return) ... . .. .... .. -..
(b) Over $25,000-Enter 52 percent of line 1 (54 percent if a consolidated return)..------- ------------------ - p a
Subtract $5,500, and enter difference................................... 5,500.00
3. Adjustment for partially tax-exempt interest. Enter 30 percent of line 1 (b), but not in excess of 30 percent of line 1.. 'f,-.*
4. Normal tax and surtax (line 2 less line 3)..................................................
$7,0 6. 78
5. Income tax (line 4, or line 22 of separate Schedule D)..................
6. Credit allowed a domestic corporation for income taxes paid to a foreign country or
United States possession (attach Form 1118) .................................
7. Balance of income tax (line 5 less line 6)............................................................._.
8. Tax under section 541 of the Internal Revenue Code (from Schedule 1120 PH) ..................p........
9. Total income tax (line 7 plus line 8). Enter here and on line 31, page 1.$ 7, 0)66G. 7,
H. Date incorporated N. If a cooperative association, check type:
I. Did the corporation at any time during the taxable year own (1) farmers' purchasing or marketing (2) 1 consumers',
directly or indirectly 50 percent or more of the voting stock of or (3) Q other.
a domestic corporation?..................... Yes Q No 6 0. Did you claim a deduction for expenses connected with: (If answer
Did any corporation, individual, partnership, trust, or association to any question is "Yes," check applicable boxes within that
at any time during taxable year own directly or indirectly question.)
percent or more of the corporation's voting stock?. Yes E No (1) A hunting lodge E, working ranch or farm E, fishing
If either answer is "Yes," attach separate schedule showing: camp E, resort property E, pleasure boat or yacht E, or other
(1) name and address;
(2) percentage owned; similar facility El? (Other than where the operation of the
(3) date acquired; and facility was the principal business.) YesQ No
(4) the District Director's office in which the income tax return
of such corporation, individual, partnership, trust, or (2) The leasing, renting, or ownership of a hotel room or
association for the last taxable year was filed. suite E, apartment E, or other dwelling E, which was used by
J. Were Forms 1096 and 1099 filed for the calendar year 1961 in customers or employees or members of their families? (Other than
connection with:
Taxable dividends... . ................. . ...Yes No El use by employees while in business travel status.) Yes ElNo
Other payments..........................Yes El No (3) The attendance of your employees' families atconventions
K. Did you have any contracts or subcontracts subject to the or business meetings. Yes ElNo
RngtainAct of 1951,. ,,.Yes El No (4) Vacations for employees or members of their families?
Renegotiation ANone9 ....YsO 3(he thvacationpa r eporednormWmb2rs Yftesr aliNo ?
If "Yes," see Instruction G(4) and enter amount here-.--- _ (Other than vacation pay reported on Form W-2.) Yes[--No-Pq
L. Did you at any time during the year own directly or indirec P. Refer to page 8 of instructions and state the:
any stock of a foreign corporation?..........Yes E No 8Princip business activity
If "Yes," attach statement as required by Instruction K. civperation
$17,725.72-----------------~------------- - p
M. Amount of e 1ef for: 1958.. ..Principal product or service_
1959 .. -... ... ... -----.. 1960 ..-I
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United States National Company. [United States National Company Form 1120, U. S. Corporation Income Tax Return: 1961], report, January 30, 1962; (https://texashistory.unt.edu/ark:/67531/metapth1292087/m1/3/?q=%221964~%22: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rosenberg Library.