Page:United States Statutes at Large Volume 43 Part 1.djvu/356

 SIXTY-EIGHTH CONGRESS. Sess. I. C11. 234. A 1924. 325 1921; (2) the contract price includes the amount of the tax imposed Emu "*“S· by section 900 of the Revenue Act of 1921, and (3) such contract does not permit the deduction, from the amount to be paid thereunder, of the whole of the diiference between the corresponding tax imposed by section 900 of the Revenue Act of 1921 and the tax im- . posed by section 600 of this Act; then the vendor or lessor shall ,€Q;§g§°',§°’g;$,§,§t?‘§ refund to the vendee or lessee so much of the amount of such diifer- from ima ao: perence as is not so permitted to be deducted from the contract price. mmdj (c) If (1) any person has, prior to January 1, 1924, made a bona nolgrlllxgtggly mm md fide contract with any other person for the sale or lease, after the date of the enactment of this Act, of any article in respect of which a tax was imposed by section 900 or 904 of the Revenue Act of 1921, and in respect of which no corresponding tax is imposed by section 600 of this Act, (2) the contract Price inc udes the amount of the tax imposed by section 900 or 904 o the Revenue Act of 1921, and (3) sudli contract does not permit deduction, from the amount to be paid thereunder, of the tax imposed by section 900 or 904 of the Revenue Act of 1921; then the vendor or essor shall refund to the vendee or p8§f,°¤;§°*;,;gl;°c{l9;§ gg lessee so much of the amoimt of such tax as is not so permitted to be neruiitted. deducted from the contract price. (d) The taxes payable by the vendee or lessee imder subdivision Tu gayamc to (a), shall be paid to the vendor or lessor at the time the sale or lease ;.;°.’{.`l3',§§1.°” ”]° °°°` is consummated, and collected, returned, and paid to the United States by such vendor or lessor in the same manner and subject to the same interest as provided by section 603. ‘ (e) Any refund by the vendor or lessor under subdivision (b) or w,§;Q_‘“°§mf° mvlfgflgf (c) shall be made at the time the sale or lease is consummated. mated. d Upon the failure of the vendor or lessor so to refund, he shall be mwb mm °° liable to the vendee or lessee for damages in the amount of three times the amount of such refund, and the court shall include in any judgment in favor of the vendee or lessee in any suit for the recovery of such damages, costs of the suit and a reasonable attorney’s fee to be &:;ed` by tl? court. b I th _ t meh I mmm ven ee who urc ases any 311310 e wi intent o use it in fi “N ‘-' the manufacture or piioduction of another article intended for sale i1i:¤i¤i:}i1¤$<i·f•¤i1¤°ii‘F K" shall be included in the term "dealer," as used in this section. TITLE VII.-SPECIAL TAXES. ""°'*'· ’*“’· currai. sroox max. °°¤’°°’ "°°* *“· Ssc. 700. (a) On and after July 1, 1924, in lieu of the tax imposed m}§"°° ’"°' MY " by section 1000 of the Revenue Act of 1921-4- O °dY¤1.42.¤.2¤4,¤m¤¤d· (1) Every domestic corporation shall pay annually a special excise uoigmsuc mmmtax with respect to carrying on or doing usiness, equivalent to_ $1 ‘ for each $1,000 of so much of the fair average value of its capital stock for the preceding year ending J imc 30 as is in excess of $5,000. In estimatin the value of capital stock the surplus and undivided profits shall ge included; _ (2) _Every foreign corporation shall pay annually a special excise m*`g{;§§¤:m'R,,°§°y§;g% tax with respect to carrying on or doing business in the United Umm sms. States equivalent to $1 for each $1,000 of the average amount of capital employed in the transaction of its business in the United States during the preceding year ending June 30. _ _ (b) The taxes imposed by this section shall not apply in any year cfm}? ‘° "“’“'“’ to any corporation which was not engaged in business (or., in the Case of a foreign corporation, not engaged in business in the United other mm States) during the receding year ending June 30, nor to any cor- ana,p`°§»x?a’i;ri°,zs¤,mu. poration enumerated) ia section 231, nor to any insurance company subject to the tax imposed by section 243 or 246.