Page:United States Statutes at Large Volume 43 Part 1.djvu/323

 292 SIXTY-EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. ¤*°9" ui- 9) In the case of such a domestic insurance com any the net czgdiciimc money inciome of which (computed without the benefit of the pai·agrapLh) is $25,000 or less, the sum of $2,000; but 1f the net income is more t an $25,000 the tax imposed by section 246 shall not exceed the tax which would be payable if the $2,000 credit were allowed, plus the amount, . of the net income in excess of $25,000. _ _ i§°Zi$E€PIK$m°1°£S; (b) In the case of a foreign corporation the deductions allowed in mfg? §)'{°'2§§l’"S‘”°“· this section shall be allowed to the extent provided in subdivision (b) No dQ,p,,m,,,,,,,_ of section  ____ (c) Nothing in this section or in section 246 shall be construed to permit the mme item to be twice deducted. ,,,,.‘§§§?i"i‘°'°°i"° pm Pam IV.·—ADMINISTRATIVE PROVISIONS. Dividend P°"°°¤“’- mrrmcus or mrmnwrs or nrvmmms. °°*¤°¤°*°¤“°f”°'*° Sec. 254. Every corporation subject to the tax imposed by this Smmc mums or title shall, when required by the Commissioner, render a correct return, duly verified under oath, of its payments of dividends, stating the name and address of each shareholder, the number of shares owned by him, and the amount of d1V1dBDd.S paid to him. Br¤k¤r=·' mrruxms or nnoxmns. Sworn r¤¢¤¤=¤ ¤! ell Sec. 255. Every person doing business as a broker shall when rembemme ey. °°° quired by the Commissioner, render a correct return duly verified under oath, under such rules and regulations as the Commissioner, wgth the apprpval if the Selpretary, xlnay prescribtgashowipg the names o customers or w om suc person as transac an usiness with such details as to the profits, losses, or other informdrtion which the Commissioner may require, as to each of such customers, as will en- _ able the Commissioner to determine whether all income tax due on profits or gains of such customers has been paid. ‘“'°"“"“°“ “‘ iuromuarioiw Arr somzcn. SOUTCQB. N*;·j_=;g]*g§*_§*jQ}\g§s*{§ i Sec. 256. All persons, in whatever capacity acting, including lessees render returns whcrwr. or mortgagors of real or personal property,_ fiduciaries, and employers, making payment to another person, of interest, rent, salaries, E { wagg prengumsh a8rgm1t1e3,teompen§?tions, remungrations, emoluxcep wu- men or 0 1er X 0I' e ermmu 6 ams, Fo t cl i ‘°“'”°‘ (other than paymerlgs described inhsecticiis 254 gud 5,552):1 oflglililllg or more in any taxa e year, or, in the case of such payments made by the United States the officers or employees of the Unit d St tes h — ing information is to such payments and required toemakii retuiiis in iggardttheretol by the tfgulations hireigafter provided for, shall ren er a rue an_ accura re urn to the ommi d h regulations and m such form and manner andsiinbzidhurexigngtutds may be prescribed by him with the approval of the Secretary, setting forth the amount of such gains, pro ts, and income, and the name mmm on and address of the I'80lplGIlt of such payment. tiD¤0b]j_g3[i01]S. Such returns may  I`€ql.lll'€d, Pégardless of amounts, (1) in the (mmm of min ease of payments of interest upon bonds, mortgages, deeds of trust ¤¤¤1><>¤s.¤¤¤- or other SUHIIQP obligations of corporations, and (2) in the case of collections of items not payable in the United States) of interest upon the bonds of foreign countries and interest upon the bonds of and dividends from foreign coiéporations by persons undertaking as afmatger of businessor for pro t the collection of foreign pa ments gxcsxngiénterest or dividends by means of coupons, checks, or of