Page:United States Statutes at Large Volume 44 Part 1.djvu/1994

 \ ¤ Y §§4{j _ TITQE 26.--117 TE} §lsy éeetiens 210 end 211 of thin title, a tax- deténmined {hhs follower - ·  l    <,  A rl f ‘ - ;» _` A pnrtini tex ishallwhretfhe computed upon the basis of the ordinary net  at the rates and _ in the manner provided in sectlnnsv 216 and 211, and the tqtnl tex shell be this emunnt mines 12% per eentnxnget the enpltni net less ;_ but in no case, ` shell the tax under ‘t}1i$_ eubdivisien. be hw than the `taies “iI1}f}0S€§ lay sections 216 and 211-éommted witheut régardn to -` the. previsiene ef. this section. _— * · ` (el) The total tex determined under subdivision (b) b1·.{c-), be collected end pdid in thelenme manner, nf thehsanne g time, and `snbjévt to the shane ‘I¤‘¤yisiqns of law, _ inélndiug ` ie) In the_l_c&se"”0f the members of a pnrt—nership,· of an eetnte er trust, or of the benedcinry of"an esta te or trust, the reepeetieeljt, of crdinniy net income, capital net gain, or éapital nel; less, Aehnll be, deterrnined under nileq and regnlatiohs to be prescribed  the ‘_Cdmmissioner with the approval of the Seeretn:·y,, end shall be seperately shpwn in the return of th. pnxtnernlnip er estnte or trust, and shell be taxed to the member er benedcinry or to the estate Oli trust as provided in, sections 218 end 219, but at the`rntm”nnd‘in the manner provided in enbdivieien (b) er fg) of this 'seetiem (Feb. 26, 1926, cl 27, "§“2B8,314Stnt.19.) f h I R I . ` See note at beginning of this chapter. ·   _ » =- g . I _ · Section 283 et tliekevenue Aqt ot 1924, mentioned in the text, -_ is set eat in § 934 of Title 26, Internal Revenue. Sections 203, zee, 210, 211, 213, 218, and 219, mentioned in the text, are set. ent in e§§ $34; 935, 951, 952,,955, 9559, and -960, respectively, `bt this supplemental Htle. ‘ . ·' __ ·  949.   income, and an forth; dedned; additional credit en necennt of earned income; members. of- part11erships.·g—— (21) Fer the purposes of this section-- _ _ ·_ _— - l  e `(—1)jIhe-term ‘fenrned inc6me"=menns wages, snlaries, professional fees, and ether amounts received ¤¤‘c¤mpe¤mu¤¤ fer. personal   uctnnlly rendered, but does not include thatl pefrt et the ecnnpeneatitin derived by the taxpayer for personal `  rendered by him to a. corporation which represents a dietrihntien et earnings er pmdtn rather than a' reasonable eliewenee ne coinpensntien {fer the pemenal services `nctnnlly. in the mee of n 1 taxpayer engaged in n_ trade or din·-which beth personal   and cnpitnl are meterlnl   predneing incteriég a' reasonable ellewnnce. an eempenentien ·‘ fer the permnnl  nctuallf renderm by  tnxmyer, net in excem et 2Q pa   of his share of  the net ments et such trade er bneineenyshnll `be Vecnnidered an- ~ (2f    "‘ mmed income deductions ” means lnxnch deduce tiene; nner·e_ allowed by seetien 214 for the   of cmni>nt—· ing net income, end .   properly allocable `to or changeable ngeinstgmrned   . J _· _  l j_ · i (3) The tem “e¤rned lnet income" means lthe excess; of the emdnnt et the earned meme over the sum` of the earned ineeme dednetiens. It the 'tnxmyéfn   income- in net niece I —·thnn $5,  M, rhle mtlre net income shall he considered to be  earned net ineeme, end it his net income `fn more than w,0G0, nie enrned net inceme shall net Abe ceneidered_ in be lens than $5,906. In no enee shall the earned net} income be considered te be xnene than $@,000, ‘ _ h A l ‘ { l (b) In the enee ei nn individual the ten ehnll; in addition to the credits . provided in eectien_ 2Q, be credited with 25 per eentnm et the nmennt of tax which would be payable it his enrned net income cenetituted his entire net ineeme; but in nd 'enee elinll the credit allowed nude; this subdivision exeéed 25 . per centnm of hie ta`: under section 210 pine 25 per centum of the tax which weuld  mynble under section 211 if hisenrned net ineeme ecnstitnted his entire net income. — V ·
 * 1ennlties,`ns ethm tnxesnnder this title. -‘ " . _  ..
 * n·eper` pert cf. each share of the net inqcme, which consists;

nur. zeevmzvs 1980 (c) in the case of the members of a `pert¤ership‘the prdper §__ part of each share of the l net income which consists of eemea income shall be. determined under iules q¤d»~ regemwee te be pizescribed by the COHIHHSS-iOB€1‘ with the epprcvel of the Secremry and- shall be separately shewh in- the retum» qi the mn- .,l1€IYShi[);8.Dd shall be taxce to the membexf as provided in meti0u`218. (Feb. 26, 1926, c. 27. § 299, 44 Stat. 20.) ' " See. ribge at beglxmiéget this chep~ter.‘-_ V Sections 210, 211; 214, 218, and 222, mentieeed in the text. are set out in §§ 951. 952, 955, 959, and 9*63, respectively,' of this sup- . plemcxgtal title. # '., _  D “‘   _' ( ‘ = ;. 941. ·E§'ective ddtefbf title.-This titlegshell tekeeifect as of I January. 1, 1925, except that section 251 em} sections 271 to 2853, inclusive, and this sectioq; Shall take &Hect eu the EIIQCUIIQIIC, of this Act. (Feb. 26; 1926. c. 27, $286, 44 Stat. 69;) l 1 ’ . New section, `“ This title·*’ herein refegiedte conétitutgs c. `i9 of this supplemental title, Section 257 and $§ 271 to 28§, inclu- · sive, mentioned in the tPXt,”8l'€ act out in -§ 1024a QM SSW 1045n · to 1071, inclusive, respectively, of this supplemsgtal tItle._ “This i Acf "*· herein reféifed to `Is net cut lthreeglxout fhi¤·~_¤¤§$}we¤ta1 _tit1¢.· l ·. .‘ ‘  _ Parr II.——Il*ZDIVIDUALS 951. i Normaf tax rates; glicns rwidents of `¢tmtig¤q¤s_ceamtries.-—(-21) `In lieu bt the tax imposed by` wcti0§°'* 210 of the Revenue Act of ·1924;”.there shall be lciied, `ceHectedQ and paid. for each.-taxable $*ez1r upon `the net income of every individual (except as prmyided in subdivision (bye! this_eeetien)" a ec:-_ mal tax of 5"'pe1*· centum of theemouut. 0( the net lemme in excess of the credits provided in section 216, except that in the U case of `a citizen or rwident of the United States the ratenpeu the Bret $4,000 bt euclil excess Amount shall" be 1% ’pe1·_centum. and upon the next $4,000 of such wexceseamcuut  be 3 mr cer;tum;- —   . t   ". ‘ (b) ju lieué of the tai imposed by sxibdividen .(e), there ¤ba1l;be levied, collected, and paid; for eechetnxable see: upon · the net iucomeof every nonresident alien! individual. e resident cf `a contiguous country, ·a normal tex equal to the sum of the following: ·' _ '· ’ _ · —‘ · _ .. ‘ · (1). 11,5 per centum of the mem-ning which the part et. the N net income attributable to wages, salaries, pmfessenelfees, er other? amounts received he compensation for personal sexwices " actually performed in the United States, exceeds the credits provided in subdivisions (dl and (ef of section 216; bet the amount taxable at such 11,5 per cenmm rate shall mt exceed. $4.000:—·.Q.     · `(2) 3 per »cén_tu¤;1·0§` the émmmt by which auch part efthe net. income exceeds the sum at (A`) the credits pmvided in sub- »dixx§le:1s (d)`a¤d. (e) `ct section 216. plus (B)l$4,000; but the a.mo¤hth"`*t§Y¤ble..at.. ., . $9011. *3 per cmztum rate shall. not exceed $4,000; and · ·  * g. Q . (3) 5 per centum of the inzount of the net income in emma at the sum of (A) the amount taxed under paragraphs (1) end (2), plus (Q) the ·ci·ed§ta proyidedin sectien_216. (Fel;. 26.. _ 1928, c. 27, § 210, 44 Stat. 21.) ` ’ · See note at beginning `oté this chepter. 952. Surtax; rates; hem; See  of mines, nil, er gms wells.··—·~—(=¥§) In lieu et Sue tax imposed by section 211 et, the Revenue Act 01 1924;. hilt Ln addition tc the normal tax imposed by section 210 et this Aet, there shell be levied, collected, and paid for each taxable yeer·upex1_ the net iuceme of every imllvidual :1 emtax as fellmvs: ~ we c " `  a net income of $10,090 there shell be ne SII!‘t8XZ¢\.1[}0I.l net incomes in exeeeelotf $10,0uo apc} not in excess of $14,000; 1 per centum of such excess. _   . J ‘ ¤Sectien 210 of the Revenue Act et l924, m<=¤ti•»m·¤1 ink this text, ie} set (mt in { 951 of Title 26 (TI:·e*TERN.u. R1=:\‘s;::t‘t·:l of the Cade. Scctiwn 2.18 mentioned herein is set cet in} 957 of this supplemental title.