Page:United States Statutes at Large Volume 44 Part 1.djvu/2011

 \ ']Q97. _ TITLE 26.-—-INTL 1630. Gross income of citizens or domestic corporations ful- £lli¤g·cert•i¤ requiienents.-·—(a) lh qne.casé 0t citizens of the United States in- dm¤@c corpqraticm, mtiéfying the fpllovidng mnditious, gross. incmwnehns only gum ixicomeitmm sourges . within the.United. · . t -· » (1) If W  §l'·M01'0 oi the groge income of such ¢·i~rize·n or, domestic ccrporatioig _( computed without the. benefit G1? mis scct§0;1)§ for the thmayear period immédiagely prqceding the closé ot the -'¤1x.u!;1e year _(0r fof such part .0f such period immediately  the c10sé_ ·¢f__s1ich taxable year as mgy be applicable) wah daived fr0m' sources within- gz pqsses- `si0¤0ftb€U¤i£¢dS¢§¢6S;&§id`  ’ :   _· ' (2) If, in the case bf such corporation, 50 per centxirir or ·m·;»re or xm gmqs meoing gmmputga withoutfthe beuem or cms section) for mich period or auch part was derived ·troug_ the active cpmiuét of a tradé or business within u possession of the United St¤t¤s;`0r. ·_ - - _~   ·"f · T _ (3)°1f, in thécase-of such cifiaéu,50 pcpceutpm or-m0ré`.` of his grm income (computed without ‘thé beneiit of this    ti_cm_) fmxmch period or sich part-   was derived fiom  the acgive c0¢id1ic£ of·a hide or business; within a possession  _ of the United Statue either on his own account ·o1··"as an ein-‘ p1cyeecr`ng¤ntc!a¤qther; Q _ I · . ‘ ·._ (b)   the provisions qt subdivision (a) there shall be   in gross income_al1_amounts recgived by such. citizens Qor cérpctntiws within the United States, whether dé- med from squrcm wnchm mr with0¤t_the.Ux1ited smug. ·- _‘ .(c) As used in  ·•eéE¤¤ the term “p0sséssibh_0t the United Stggéa ’f does? no; include   Virgin Island; ot the` United States, (Féb. E, 19%, c. 27, 5262, 4} Stat. 53.) · `Se•¤ote_•t·b•g|.#b1¤g¤t£@u`g;hapter, _ _· 1031. Capantius   Chin; Tide Act; imdits •Hcvcd.·—-(a) For   only of the  by . section   shallbc •1  Q. tbédgnse bt 8—¢b1'|X)1"£d0!l‘ .¤rgnnuedZm1der the wim Tndé   1%,An creglit ot<•n·· amount ciiisml. to the   ot tho! net inébme ekrived from _  within Chmn (dgtzrmimd ig”'.‘i.simiInr manual-. to that qovided     217) which me pur value d` the B;1&1;&§T of stock-otthe corporation   on the 1¤st‘day of phd taxable .yé•r by' (1) persons nwdeutjn China, ¢he_Unjtéd Statu; or   pt the United States, and ·(2)i indlvidusii _ citizens ct   United   or China Wb€l‘B`V&1‘~li£d0l1t,  to the par vglue of the whole number ot shares of st0ck·ot thé wrpqniiou <¤itst&¤ding_o¤~ such date: Pfo1?(d8L`Thlt in mi use shall thehmount by which the thx imposed by sectiqn Z-$0 dis diminished by muon of mich credit gxcepd -t1re— amount oi the spcdnl qivideud   .u,uder` subdivision (bl) ‘ot —this‘ section; 1 · ·,  ¢ _ —. - (b) Sum credit smll not beqltowedv unless the Secretary of ‘ Commerce, has qaertmed to we i:0mmis$l0ncr-—- I ·. (1)' The dmouut which, during the year ¢udi¤g·ou the dale Bled by law for Ming the ‘ 1‘€t\11'l1; the corporation has distributed ns 4 sbccialdividend to or for the t§ene¤t of such Dérscmé na on me last day. dt the tuqble yar were resident ` in China, the United States, or pomwmonq of the United Statw. cr were individual citiiéus of the United States or ° China;-mgd cwued `nhgru ot itock qt the cbrpomticn; · ’. ’ Y ‘(2) That ;1ch§ special dividend wnsdn hdditiohibo all other ammum, payable orQto  payable —tb“   parsqns or 161- their » .·bc¤éHt, by reason `of their  the gdrpcratiou; and. » (3) That such distribution has been made to or for the. · beneht ot suchpersemi in pzgcportioia to.the»par value of the 4 !h8!'B8'0f Stock ct {hc · » ¤· ~  · ~ ·   by mah;-°s:cept· 1 that“it_t.hé ccrpornt:i¤n.hn¤ more than cm class of Swck. the certmcaiucs shall umtnin n ointment `thnt· the l1'tiqles ctiné 1 corporation pxzqvide A method int  apportionment of quch e meds} dividend   pcrscmn, and that the amount s

rmvu. nnvmvvn _ §1043 gtlfled has been distributed in accordance with the method so provided. - " ‘ H · _ "_ (c) For the purposes of this section shares; of stock of a ¢@i'D0l'§tl0D shall be' considered to be owned by the person ‘ in whom the equitable right to the income from such shares is ingoodfaithvested, " 'V - ' (d) As used in this section the term "JChina" shall have the same meaning as when used in the China Trade Act, 1922, `,(Feb. 26, 1926, c. 27, S 263, 44 Stat. 53.). F l ,_` 2 ‘ _ `L See note'at_beglnning ofthis. chapter. . _ . _ The China Trade Act;_ 1922, mentioned in the text, constitutes ch. 4 of Title 15,"C0mnacn nm  Sections 217 and 230, ‘, mentioned°ln the text,`are setout in H 958 and 981, rmpectively, ‘ · ot this supplemental title. ‘ ’ I · · Pam V.-gPAYMENT, COLLECTION, AND REFUND OF TAX _ _  PENAL’1‘IE$ ‘ 1041. Time for payment ofvtax; payments in ifull.e·( a) `Except as provided in subdivisions (b),_?(c),”and (d) of this secaonitne wm- amount or-tax imposed by cms use man be ' _(1.). In the case of ataxpayer, other than a nonresident alien individual, and other than a foreign corporation not hating an office or place pfbuslness in the United Statm, on the.15th day of March following the close of the ·mlmdar year, or, if the §’ return should be made on the. basis of a ·‘ilscal yur, {then on ·) Inthe case of a nonresident allen indivihal, and of a foreigne q ration not having an omce or place of bw@ .in. the  States, on the 15th day of June fo@lug the of the calendar year, or, li the return www be mdb <>¤ the`ib@8is.o1"a Bscal yar, then- an the naeeutn cfay of `the sixth ~ lmonth following the close_ of the hscal ymr. A. ‘ · · (d), A   imposed by this tltlé,‘or any installment thereof, may he paid, at the election of the taxpayer, prior to   date prescribed for its payment. __(Feb. 26,1926, c. 27, S 270 (a) (d), 44Stat.“54.)    __ ` ‘ ‘ ‘ ` See note at bemnning of this chaptérr `X · "C — “This tltle," herein referred to, constitutes c. 19 of this sup- __ nlementaltitle.·—. __·· . _ p __’ » 1042. sgm; pineal in — mammals.-<1>_., The mma may elect to pay the_ tax lin four equal installments, as which _ casethe nrst installment.- shall be paid on the date p@ibed in subdlvimon ·(a) for, the payment of the tax by thetaxmyer. the second installment shall be, paid on the fifteenth rday ot, the third month, the third .lnstallment_’on the dfteenth day ot the sixth month, and the fourth installment on the fifteenth day _of‘·thel‘ninth` month, attmrsuch date; ‘ _‘ ' ._ l (2) It any installment is not paid on or before the _.date` hxed- for its payment; the whole amount ot thetax unpaid shall be- paid upon notice and dmnand from the collector. ~ (Feb; 26, 1926, c.'27, 5 270 (b), 44_Smt.'5g4.) Y " ‘ iSee note at beunnlng ot this. chapter. `- -. 1043. Same; extensim of. time for ‘payment.——(1), At request of the ther, the Commiwioner may extend the time tor payment, ot the amount determined as the tax by the taxpayer, . or any installment thereof, for a period not to exceed ` six monthsirom the dateprwérlbed in subdivision; (a) or (b‘) tor the payment ot the tax or an installment thereof. In such mserthe amount in respectotl which the extension isgmnted __ shall be paldon or before the date of the expiration or they perm or the extensmn. D - _- . g (2) · If   for mymentls thus extended there shall be eollwted, as a- part `ot with amount, interest thereon at the-rate of 6 per   per   from the  when such payment should have hm made lt·no_ extension had hem granted, until
 * the ilfteenth day ot. the third month following the close ot the