Page:United States Statutes at Large Volume 36 Part 1.djvu/139

 SIXTY-FIRST CONGRESS. Sess. I. Ch. 6. 1909. 115 as a condition to the continued use or possession of property, and F°’°ig¤ °°mP¤¤*°S· ‘ if organized under the laws of a foreign country the amount so plaid in the maintenance and operation of its business within the nited States and its Territories, Alaska, and the District of Columbia; _ (fifth) the total amount of all losses actually sustained during the .,ig;,‘f§§§_“· °°*”°°“" year and not compensated by insurance or otherwise, stating separately any amounts allowed for depreciation of roperty, and in the case of insurance companies the sums other than dividends, paid within the year on policy and annuity contracts and the net addition, V if any, required bfy law to be made within the year to reserve funds; and in the case o a corporation, joint stock company or association, F°’°‘g" °°“‘*‘““*°‘* or insurance company, organized under the laws of a foreign country, all losses actuallyliustained b it during the year in business con- " ducted by it wit the United States or its Territories, Alaska, and the District of Columbia, not com ensated b insurance or otherwise, stating separatel any amounts allowed for dfepreciation of pro ertv, and in the case og insurance companies the sums other than divirliendys, ,,,},,‘§§,,f"““° ° °°‘“‘ paid within the year on policy and annuity contracts and the net addition, if any, required bfy law to be made within the year to reserve fund; (sixth) the amount 0 interest actually paid within the year on its d§§§[,$,’,‘§“e§,,p‘$i° °“ i“‘ bonded or other indebtedness to an amount of such bonded and other indebtedness not exceeding the paid-up capital stock of such corporation, joint stock company or association, or insurance company, outstanding at the close o the year, and in the case of a~ bank, banking association or trust company, stating separately all interest paid b it within the year on deposits; or in case of a corporation, joint stock F°r°ig° °°m°°m°°° company or association, or insurance company, organized under the laws of a foreign country, interest so paid on its bonded or other indebtedness to an amount of such bonded and other indebtedness not exceeding the proportion of its paid-up capital stock outstanding at the close of the year, which the gross amount of its income for the gear from business transacted and capital invested within the United tates and any of its Territories, Alaska, and the District of Columbia, bears to the gross amount of its income derived from all sources within and without the United States; (seventh) the amount paid by it T°“‘°' *’“°‘ within the year for taxes imposed under the authority of the United States or any State or Territory thereof, and separately the amount so paid by it for taxes imposed by the government of any foreign N country as a condition to carrying on business therein; (eighth) the °°i“°°“‘°‘ net income of such corporation, jplint stock company or association, or insurance company, after ma `ng the deductions in this section Dhwsiuon 0, m_ authorized. All such returns shall as received be transmitted forth- mms. with by the collector to the Commissioner of Internal Revenue. F th, [ t_ Fourth. Whenever evidence shall be produced before the Commis— ir liiuiiiiiu iiigiiirgi sioner of Internal Revenue which in the opinion of the commissioner °"“°"““"°· justifies the belief that the return made by any corporation, joint stock company or association, or insurance company, is incorrect, or whenever any collector shall report to the Commissioner of Internal Revenue that any corporation, joint stock company or association, or insurance company, has failed to make a return as required by law, the Commissioner of Internal Revenue may require from the corporation, joint stock company or association, or insurance company making such return, such further information with reference to its capital, income, losses, and expenditures as he mag deem expe- Ag ms to examine dient ; and the Commissioner of Internal Revenue, for the pmpose of imag, ac. ascertaining the correctness of such return or for the puripose of making a return where none has been made, is herebly authorized, by any regularly appointed revenue agent specially esignated by him for that purpose, to examine api books and papers bearing upon P°"°”· ”°°‘ the matters required to be includ in the return of such corporation, joint stock company or association, or insurance company, and