Page:United States Statutes at Large Volume 47 Part 1.djvu/240

 216 72d CONGRESS. SESS. I. CH. 209 . JUNE 6, 1932 . WCOME TAX rent, salaries, wages, premiums, annuities, compensations, remunera- tions, emol uments, or other fixed or determin able annual or p eriodical gains, profits, and income, of any nonresident alien individual, or of any partnership not en gag ed in tr ade or busi ness wit hin the United States and not having any office or place of business therein and composed in whole or in part of nonresident aliens, (other than Exceptions . income received as dividends of the class all ow ed as a credit b Ante, p.184. y section 25(a)) shall (ex ce pt in the cases provided for in subsection (a) of this section and except as otherwise provided in regulations prescribed by the Commis sioner under s ection 215) ded uct and withhold from such annua l or periodical gains, profits, and income Proviso a tax equal to 8 per centum thereof : Provided That the Commis- owners . of unknow n sioner may aut horize such tax to be deducted s and wit hhe ld f rom the interes t upon any secur ities the owner s of which are not known to the with holding agent. Return and payment (c) RETURN AND PAYMENT .-Every person required to deduct and required. withhold any tax under this section shall make return thereof on or before March 15 of ea ch ye ar and shall on or before Ju ne 15, in lieu a Ante, p .189. of the t ime prescribed in section 56, pay the tax to the official of the Uni ted Sta tes Gove rnme nt auth oriz ed to r ecei ve it. Every such person is hereby made liable for such tax and is hereby indemnified aga inst the cl aims and de mand s of any pe rson for the am ount of ny p ayments m ade in accordance wi th the provisions of this section. of Return withheld by tearecipient (d) NCOME OF RECIPIENT .-Income upo n wh ich any tax is . req uire d to be wit hhel d at the so urce und er t his sec tion sha ll be included in the return of the recipient of such income, but any amount of tax so w ith held sha ll be c redi ted agai nst the amo unt of income tax as computed in such return. Tax paid b y recip- (e) TAX PA ID B Y REC IPI ENT .-If any ta x required unde r this see- IeNot re-collectible. ti on to be deducted and withheld is pa id by the recipient of the income, it shall not be re-collected fr om the withholding agent; nor in case s in wh ich the tax is so p aid shal l any p enal ty be im pose d upon or collected from the recipient of the income or the withhold- ing agent for failure to return or pay the same, unless su ch failure was fraudu lent and for the purpose of ev ading payment. Refunds a nd credits (f) REFUNDS AND CREDITs .-Where th ere has been an overpayment to withholding agent. agent . of tax unde r this section any refund or cre dit made under the pro- vi si ons of section 322 shall be made to the withholding age nt unless the amount of such tax was actually withheld by the withholding agent. Deductions, etc ., for (g) Notwithstanding the provisions of subsections (a) and (b), the prior periodss dedu cti on and w ithh oldi ng for any peri od prior to the dat e of the enactment of this Act shall be at the rates of 12 per centuin and 5 per centum in lieu of the rates of 133/4 per centum and 8 per centum prescribed in such subsections. Payment at source. SEC. 144. PAY MENT OF COR PORA TIO N IN COME TAX AT SO URCE. ti na f orei gn cooo ~ In the cas e of foreign corporations subject to taxation under th is within UnitedStates. title not engaged in trade or business within the United' States and not having any office or plac e of business th erein, there sha ll be deducted and withheld at the source in the same manner and upon Ante, p.215. the same items of income as is provided in secti on 143 a tax equ al to 12 per centum thereof in respect of all payments of income made befo re the enac tmen t of thi s Ac t, and equa l to 13% per ce ntum the reof in respect of all payments of income made after the enactment of th is Ac t, and such tax shall be returned and paid in the sa me manner Rate o. and sub je ct to the same conditions as provided in th at section : Pro- Rate Interest granted free of tax. vided, That in the case of interest describ ed in subsection (a) of that section (relating to tax-free covenant bonds) the deduction and withholding shall be at the ra te specified in su ch subsection.