Page:United States Statutes at Large Volume 48 Part 1.djvu/233

 73d CONGRESS. SESS. I. CH. 90. JUNE 16, 1933. (c) Every such corporation is hereby made liable for such tax and is hereby indemnified against the claims and demands of any person for the amount of any payment made in accordance with the provisions of this section. (d) The provisions of sections 115, 771 to 774, inclusive, and 1111 of the Revenue Act of 1932 shall be applicable with respect to the tax imposed by this section. (e) The taxes imposed by this section shall not apply to the divi- dends of any corporation enumerated in section 103 of the Revenue Act of 1932. SEO. 214 . Section 104 of the Revenue Act of 1932 is amended by striking out the words "the surtax " wherever occurring in such section and inserting in lieu thereof " any internal-revenue tax ." The heading of such section is amended by striking out " surtaxes " and inserting in lieu thereof " internal-revenue taxes ." Section 13 (c) of such Act is amended by striking out "surtax " and inserting in lieu thereof " internal-revenue tax ." Sm. 215 . (a) For each year ending June 30 there is hereby im- posed upon every domestic corporation wi th respect to carrying on or doing business for any part of such year an excise tax of $1 for eac h $1,0 00 of the ad justed decla red val ue of its ca pital stock. (b) For each year ending June 30 there is hereby imposed upon every foreign corporation with respect to carrying on or doing busi- ness in the United States for any part of such year an excise tax equivalent to $1 for each $1,000 of the adjusted declared value of capital employed in the transaction of its business in the United Sta te s. (c) The taxes imposed by this section shall not apply- (1) to any corpo ration enume rated in sect ion 10 3 of t he Rev enue Act of 1932 ; (2) to any insurance company subject to the tax imposed by section 201 or 204 of such Act ; (3) to any domestic corporation in respect of the year ending June 30, 1933, if it did not carry on or do business during a part of the period from the date of the enactment of this Act to June 30, 1933, bo th dates inclusive ; or (4) to any foreign corporation in respect of the year ending June 30, 1933, if it did not carry on or do business in the United States during a part of the period from the date of the enactment of this Act to June 30, 1933, both dates inclusive. (d) Every corporation liable for tax under this section shall make a return under oath within one month after the close of the year with respect to which such tax is imposed to the collector for the district in which is located its principal place of business or, if it has no principal place of business in the United States, then to the collector at Baltimore, Maryland. Such return shall contain such information and be made in such manner as the Commissioner with the a pprov al of the Secr etary may by r egula tions pre scrib e. The tax s hall, with out asses sment by the C ommis sione r or noti ce fr om the collector, be due and payable to the collector before the expira- tion of the period for filing the return. If the tax is not paid when due, there shall be added as part of the tax interest at the rate of 1 per centum a month from the time when the tax became due until paid. All provisions of law (including penalties) applicable in respect of the taxes imposed by section 600 of the Revenue Act of 1926 shall, in so far as not inconsistent with this section, be applicable in respect of the taxes imposed by this section. The Commissioner may extend the time for making the returns and paying the taxes Provisions of Reve- nue Act of 1932, appli- cable. Vol. 47, pp. 203, 57, 289. Div idends not t axed. Vol . 47, p. 193. Vol . 47, p. 195. Acc umulation of sur- plus to evade any in- ternal-revenue tax. Vol.47, p. 177 . Tax on domestic cor- porations. Post, p. 771. 207 L iabil ity of co rpora - tion. Foreign cor porations . Corpo rati ons to which not applicable. Vol. 47, p. 193. Vol. 47, pp. 223, 225. Returns of corpora- tions. Contents . When tax payable. Interest rate, if not pa id when due Penalty provisions. Vol.44,p.93. Extension of time for making returns.