Page:United States Statutes at Large Volume 39 Part 1.djvu/778

 SIXTY-FOURTH CONGRESS. Sess. I. Ch. 463. 1916. 757 not exceed $100,000, five per centum per annum upon the amount ‘“°°“ “‘· by which such total netincome exceeds $100,000 and does not exceed $150,000, six per centum per annum upon the amount by which such total net income exceeds $150,000 and does not exceed $200,000, seven per centumdéper annum upon the amount by which such total net income excee $200,000 an does not exceed $250,000, eight per centum per annum uipon the amount by which such total net income exceeds $250,000 an does not exceed $300,000, nine per centum per annum upon the amount by which such total net mcome exceeds $300,000 and does not exceed $500,000, ten per centum per annum upon the amount bfy which such total net income exceeds $500,000, and does not excee $1,000,000, eleven per centum per annum upon the amonmt by which such total net income exceeds $1,000,000 and does not exceed $1,500,000, twelve per centum per annum upon the amoimt by which such total net income exceeds $1,500,000 and does not exceed $2,000,000, andithirteen per centum per annum upon the amount by which such total net income exceeds $2,000,000. — For the purpose of the additional tax there shall be included as ,,£*§*{’§},"3,’,"§,'§_§ income the income derived from dividends on the capital stock or ¤1¤<1¤¢ ’ from the net earnings of any corporation,. ` t·stock company or _ association, or insurance company, except digi in the case of non- N°"‘°“i°°“"‘”°"‘ resident aliens such income derived from- sources without the United States shall not be included; » - 4 ·: . . All the provisions of this title relatingsto the normal tax on indi- ,,,,°§,§",,,;‘,§’;`,“?,,,2,‘,,,‘§‘ viduals, so far as they are a plicable and are not inconsistent with this subdivision and section three, shall appl to the imposition, levy, assessment, and collection of the additionalytax imposed under this subdivision. ` (c) The foregoing normal and additional tax rates shall appl to  °” °“‘ the entire net income, except as hereinafter provided, received, by every taxable person in the calendar year nineteen hundred and sixteen and in each calendar year thereafter. Iuoomedeilned. moons nnrixnn. Sec. 2. (a) That, subject only to such exemptions and deductions S°“'°°“ ‘“°'“‘*°'*· as are hereinafter allowed, the not income of a taxable person shall include gains, profits, and income derived from salaries, wages, or compensation for personal service of whatever kind and in whatever form paid, or from dprofessions, vocations, businesses trade, commerce, or sales, or ealinvs in property, whether real or personal growing out of the ownership or use of or interest  real or personal property, also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income derived from any source whatever: Provided, That the §{9fd";;ds mm; term "dividends" as used in this title shall be held to mean a.nysi¤c¤u¤¤n1,1s1z. distribution made or ordered to be made by a corporation, joint-stoc company, association, or insurance company, out of its earnmgs or profits accrued since March Erst, nineten hundred and thirteen, and payable to its shareholders, whether  cash orin stock of the corporation, joint·stock com any, association, or insurance company, which stock dividend shag be considered income, to the amonmt of itséaslfnvalue. _ d b f d ed d _ th Bums of dmmd come receive y estates o eceas persons uring _ e pmuus period of administration or settlement of the estate, shall be su ject to the normal and additional tax and taxed to their estates, and also such income of estates or aréy kind of property held in trust, '*"°““·°°°· including such income accumulate in trust for the benefit of unborn or unascertained ersons, or persons with contingent interests, and income held for fiiture distri ution under the terms of the will or trust shall be likewise taxed, the tax in each instance, except when