Page:United States Statutes at Large Volume 42 Part 2.djvu/922

 INDEX. 2463

Income Tax, Title II, Revenue Act of 1921- Page. Continued. returns by individuals 250 by husband and wife living together. 250 by agent, guardian, etc.. 250 partnerships. 250 fiduciaries for specified beneficiaries. 250 joint fiduciaries................... 251 for less than twelve months when accounting basis change.. 251 computation for parts of a year. 251 time for filing, of individuals, partnerships, and fiduciaries. 251 by nonresident aliens... 251 extensions allowed. 251 to be filed with collector of district, etc. 252 increase of tax for understatement in... 252 appeal to Commissioner... 252 incorporation of individuals or partnerships business 252 income of, if organized within four months, may be taxed as a corporation 252 no surtax on undistributed profits..252 distribution taxed as dividends of recipients. 252 not applicable if income less than 20 per cent of invested capital.. 252 corporation excise tax for 1921 to be paid. 252 corporations; rate on net income for 1921;thereafter......252 organizations exempt; labor, etc. 253 mutual savings banks... 253 fraternal beneficiary societies, etc.... 253 domestic building Associations, cooperative banks........ 253 mutual cemetery companies; corporation solely for burial purposes. 253 community chests, religious organizations, etc. 253 business leagues........ 253 civic leagues for social welfare. 253 pleasure clubs............ 253 farmers' local mutual associations 259 ssociations for marketing farm produce, etc. 253 trustees for exempted organizations... 253 federal land banks, farm loan associations...........253 personal service corporations; until December 31, 1921...............254 net income defined; computation on same basis as individuals.......... 254 of foreign corporations, etc., as of non-resident aliens....254 gross income; sources as defined for individuals. ..........254 mutual marine insurance companies; deductions.....................254 foreign corporations, from United States sources.... 254 deductions allowed in computing corporation net incomes; business expenses 254 interest on debts; exceptions...254 taxes; classes and exceptions specified.. 254 not applicable to corporations guaranteeing payments at source...254 paid on interest of stockholders. 254 business losses.......255 restriction of, on sales of stock, etc 255 destruction, etc., of property acquired before March 1, 1913. 255 worthless debts... 255

Income Tax, Title II, Revenue Act of 1921– Page Continued. deductions allowed in computing corporation net incomes; tax paid dividends; from foreign corporations. .. 255 allowance for exhaustion, etc., of property............................... 255 amortization of cost of buildings, plants, vessels, etc., for prosecution of the war............................ 255 redetermination of tax before March 3, 1924; credits for overpayments..... 255 allowance for depletion, etc., of mines, oil wells, timber, etc.; basis........ 256 if acquired before March 1, 1913 256 if discovery by taxpayer before March 1, 1913; limitation........ 256 regulations, etc., to be prescribed; application to leases............... 256 additional to insurance companies other than life; limitation after December 31, 1921. ............ 256 issuing policies on weekly premium plan for life, etc.; not effective after December 31, 1921. 256 mutual marine companies. 256 other mutual companies, returning premium deposits.. 256 proceeds from involuntary conversion of property expended for similar property, etc...... 257 applicable to prior Acts. 257 foreign corporations, of designated items within the United States 257 items not deductible, same as to to individuals.. 257 credits allowed corporations; interest on Federal securities, etc....... 257 domestic corporations, specific of $2,000, if net income less than $25,000 257 limitation if exceeding $25,000. 257 War and excess profits tax for fiscal year ending in 1921. 257 ending in 1922 257 tax paid at source on income of foreign corporations not in business of the United States.................. 258 deduction of interest free from tax... 258 domestic corporations for income, etc., taxes paid abroad; limitations...... 258 redetermination, etc., of taxes paid; refund. 258 if accrued, but not paid; bond required 258 evidence of foreign income, etc, required......... 258 proportion allowed for fiscal year ending in 1921. 258 domestic corporation controlling a foreign, deemed to have paid the foreign tax on dividends received therefrom... 259 limitation of credit allowed. 259 determination of accumulated profits... 259 accounting period for foreign corporation. 259 corporations in United States possessions deemed foreign........ 259 returns required from corporations. 259 from agents of foreign.... 259 from receivers, trustees, etc., of; collection of tax............... 259 accounting; made for part of a 259 statement of dividends, etc., to be appended. 260 affiliated corporation may make separate or consolidated, after January 1, 1922....................260 42150°-VOL 42, PT 2-60