net proceeds
Defined in 4 places across 2 titles of the United States Code.
Definitions.—In this section, the terms “net proceeds” and “net indemnity” mean the sum of—
(1) the adjusted basis of the vessel; and
(2) the amount of gain the taxpayer would recognize without regard to this section.
Source
- 2006–present46 U.S.C. § 53306Shipping · Recognition of gain for tax purposes · in this section
For purposes of subparagraph (A), the term “net proceeds” has the meaning given such term by section 150 but shall not include proceeds used to finance issuance costs and shall not include proceeds necessary to pay interest (during such period) on the bonds which are part of the issue.
Source
- 1994–present26 U.S.C. § 149Internal Revenue Code · Bonds must be registered to be tax exempt; other requirements · in this section
The term “net proceeds” has the meaning given such term by section 150(a)(3).
Source
- 1994–present26 U.S.C. § 7871Internal Revenue Code · Indian tribal governments treated as States for certain purposes · for purposes of this title
The term “net proceeds” means, with respect to any issue, the proceeds of such issue reduced by amounts in a reasonably required reserve or replacement fund.
Source
- 1994–present26 U.S.C. § 150Internal Revenue Code · Definitions and special rules · for purposes of this part