Page:United States Statutes at Large Volume 45 Part 1.djvu/915

 864 SEVENTIETH CONGRESS. SEss. I. CH. 852. 1928. TAX ON ADMISS IONS SEC. 412. TAX ON SALE OF TICKETS BY BROKERS. AND DUES Sales by brokers . (a) Paragraph (2) of subdivision (a) of section 500 of the Vol.44,p. 91, amend- ed. Revenue Act of 1926 is amended to read as follows Additio nal, on sale s "(2) Upon tickets or cards of admission to theaters, operas, and at advanced prices at other than th eat er other places of amusement, sold at news stands, hotels, and places ticket offices. other than the ticket offices of such theaters, operas, or other places of amusement, at not to exceed 75 cents in excess of the sum of the established price therefor at such ticket offices plus the amount of any tax imposed u nder paragraph (1 ), a tax equivalent to 5 per centum of the amount of such excess ; and if sold for more than 75 cents in excess of the sum of such established price plus the amount of any tax imposed under paragraph (1), a tax equiva- lent to 50 per centum of the whole amount of such excess, such taxes to be returned and paid, in the manner and subject to the interest provided in section 502, by the person selling such tickets ; " Effective in 30 days. (b) Subsection (a) of this section shall take effect on the expira- tion of thirty days after the enactment of this Act. Club dues tax. SEC. 413 . CLUB DUES TAX. e Vol.44,p. 92, amend- (a) Section 501 of the Revenue Act of 1926 is amended to read as follows Rates. " SEC . 501 . (a) There shall be levied, assessed, collected, and paid a tax equivalent to 10 per centum of any amount paid- Membership dues. " ( 1) As dues or membership fees to any social, athletic, or sport- ing club or organization, if the dues or fees of an active resident annual member are in excess of $25 per year ; or Initiation fees. " ( 2) As initiation fees to such a club or organization, if such fees amount to more than $10, or if the dues or membership fees, not including initiation fees, of an active resident annual member are in excess of $25 per year . Pa ym ent by mom- be rs " ( b) Such taxes shall be paid by the person paying such dues or. Fraternal lodges, etc., fees. exempt . (c) There shall be exempted from the provisions of this section all amounts paid as dues or fees to a fraternal society, order, or association, operating under the lodge system, or to any local fra- ternal organization among the, students of a college ments e or university. Life membership pay. In the c ase of life member ships a life member shall pay a nnuall y, at. the time for the payment of dues by active resident annual members, a tax equivalent to the tax upon the amount paid by such a member for dues or membership fees other than assessments, but shall pay Terms "dues" and no tax upon the amount paid for life membership. "initiation fees" con- " ( d) As used in this section, the term `dues' includes any strued . assessment irrespective of the purpose for which made ; and the term `initiation fees', includes any payment, contribution, or loan required as a condition precedent to membership, whether or not any such payment, contribution, or loan is evidenced by a certificate of interest or indebtedness or share of stock, and irrespective of the Effective in 30 days. person or organization to whom paid, contributed, or loaned ." (b) Subsection (a) of this section shall take effect on the ex- piration of thirty days after the enactment of this Act. Ret urns. SEC. 414 . RETURNS OF ADMISSIONS AND DUES TAX. "Monthly returns" str uck out, and "re- (a) Section 502 (a) of the Revenue Act of 1926 is amended by turns" in lieu . Vol .44,p. 93, amend. striking out " monthly returns " and inserting in lieu thereof ed. " returns ". (b) Sec tion 502(b) of such Act is amended by st riking out " monthly return " and inserting in lieu thereof " return ".

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