Page:United States Statutes at Large Volume 44 Part 2.djvu/72

 32 ‘ SIXTY-NINTH CONGRESS. Sess. I. Cn. 27. 1926. [BWI! TAX. E, (f As used in this section the words " sale " or " sold " include hscrvcdzm mm “exclian&e" or "exchang%ed"; and the word “produced" includes ":crea8t1e<;l, ’ “ {abri§e;ted," manufactured," "extracted,” “processed," cur or ‘ age . uR$lam¤i:»ii°• muzi g, 1 Exce t as provided in aragra h (2 a nonresident alien P *i. E °‘“°‘“ °“"" "’“"' in ividua or a citizen entitled to t e bene ts o section 262 shall re- ceive the benefit of the deductions and credits allowed in this title only by filing or causing to be filed with the collector a true and accurate return of his total income received from all sources in the ¤,{,{*‘”“°“" "'°"“" United States, in the manner prescribed in this title; including therein all the infomation which the Commissioner may deem necessa for the calculation of such deductions and credits. ,5'{°.,°°1i¤f’",’;§.'§°,,‘°‘?l' (2) 'lllxe benefit of the credits allowed in subdivisions (d) and (e)
 * {¤g*_§g¤d:'”;i,““ of section 216, and of the reduced rate of tax provided for in sub-

` division (b) of section 210, may, in the discretion of the Commis- sioner and under regulatons rescribed by him with the a proval of the Secretary, be received by a nonresident alien individiial en- titled thereto, by filing a claim therefor with the withholding agent. P""""m"" rzurrsmasmrs ai$i$°•1°:? m°d°°i°` Sw. 218. (a) Individuals carrying on business in partnership C mwmbn I m_ wl bcimlfpgge fir dipgome tax only in their individual hcapacity. 2, ° one s inc u in com uting the net income o eac partner wm his distributive share, whether ldistributed or not, of the not income of the partnership fonthe taxable ear, or, if his net income for such mx: le year thgsbcompxged lpiplonthtlie bzsis of a  gi §rom aupon.__as1s wc enemcomeo e a ipis com uted, then his distributive share of the net income of the pam nership for any accountinggriod of the partnership ending _w1thin theitaxabtlifyeare upon the, sis of. which the- partner’s net income ¥8—¢9ID · ~. .    ¤·~ · ,,,,‘},,°°{S,?§;i,§i§“§§l (b) Bilbo partner shall for the purpose of the normaltax, be °¤*¤“°¤*- allowed aslcredits, in.-addition to the credits allowedito him under section 216, his pro ortionate share of such amounts specified in sub— (a) and,b) of section 216 as are received by the partner- 1 · V V . . 4. _ . · m§°°:;{’““"°¤ °' ”°‘ 8:) The net income of the partnership shall be computed in the . same manner and on the same ' as provided in section 212 except that the deduction provided in paragraph (10) of subdivision (a) of section 214 shall not be allowed. ‘ MW •¤d*¤‘°·*¤· ,_ E  arm ransers l¤°°¤*¤`°'· *·¤‘· Sno. 219. .(a) The tax   by Parts In   II of this. title shall apply ite ithgih income ofestates or of- any kind of property held in tr` 1ng;u_g     ._ ’rr¤=¢•¤¤¤¤¤¤1•¤¤¤~     in trust for the beneiit of unborn _or  persons or persons with contingent. mterestskand in- cxiguggepmuménilagdcor ( _ for future distmbution under t e terms 0   e· ·‘ · glzrll   ~» mfg*°*”°·“Y °*'***°‘ . (3)    bexlistributed mgrrentlyp byai the fiduciary ‘ to . ,¢;s¤es,a¤..1n¤¤¤1¤i. l¥.¤S¤¤.¤¤<>¤¤i¤·  §v%i&1i.is,fo be hgldtor   es thewurtemny gimct; the m¤·¤··**•¤¤d¤¤*¤¤ ¤°· ’  receivq l y V. .  uring i°°°"`°i° ` period of administration or settlement of the estate; and r blpiixtzmny asm- lt?)  t:11n€§,t;:,,§•he  the gcgiésiary, may be ei _ er . 1 J1 n ciaries.or_accum11_ . .. . » “;’j¥¤¤¤¤'·¤ by ¤d¤°*· (b) Except as otherwise provided in subdivisions (g) and (h), the tax shal be computed upon the net income of the estate or trust,