Page:United States Statutes at Large Volume 49 Part 1.djvu/1072

 7 4TH CONGRESS. SESS. I CH. 829. AUG UST 30. 1935. 1027 SEC. 404. INTEREST ON DE LIN QUE NT TA XES Interest on deli n- quent taxes. Notwithstanding any provision of law to the contrary, interest accruing during any period of time after the date of the enact- ment of this A ct upon any int ernal-re venue t ax (incl uding a mounts assessed or collected as a part thereof) or customs duty, not paid when due, shall be at the rate of 6 per centum per annum. SEC. 405. DECLARATORY JUDGMENTS AS TO TAXES De clar ator y jud g- ments as t o taxes . (a) Paragra ph (1) o f secti on 274D of the Judicial Code ( Public, vo l- 48, P- 915. Numbered 343, Seventy-third Congress) is amended by adding after the words " actual controversy " the following : "(except with respect to Federal taxes) ". (b) The amendment made by subsection (a) of this section shall me IIPplicationotamend- apply to any proceeding now pending in any court of the United States. SEC. 406. FAILURE TO FILE RETURNS Failure to file re- turns. In the case of a failure to make and file an internal-revenue tax Penalty. return required by law, within the time prescribed by law or pre- scribed by the Commissioner in pursuance of law, if the last date so prescribed for filing the return is after the date of the enactment of this Act, if a 25 per centum addition to the tax is prescribed by existing law, then there shall be added to the tax, in lieu of such 25 per centum : 5 per centum if the failure is for not more than 30 days, w ith an addition al 5 pe r centum for ea ch addit ional 3 0 days or fraction thereof during which failure continues, not to exceed 25 per centum in the aggregate. SEC. 407. TAXES ON CRUDE PETROLEUM Taxe s on crude petro- leum. Effective on the first day of the first calendar month following vole . 48, p.766. the date of the enactment of this Act, sections 604 and 605 of the Revenue Act of 1934 (r elating to taxe s on pr oduction and re fining of crude petroleum) are amended by striking out "1/10of1cent per barrel " wherever appearing therein and inserting in lieu thereof " 1/25 of 1 cent per barrel". TITLE V-GENERAL PROVISIONS Title v-General provi sion s. SEC. 501. DEFINITIONS Definitions . (a) When used in this Act- (1) The term " person" means a n indivi dual, a trust or estat e, "Person ." a partnership, or a corporation. (2) The term " corporation " includes associations, joint-stock "Cor poration ." companies, and insurance companies. (3) The term "domestic" when applied to a corporation or "Domestic ." partnership means created or organized in the United States or under the law of the United States or of any State or Territory. (4) The term " foreign " when applied to a corporation or part- "F orei gn ." nership means a corporation or partnership which is not domestic. (5) The term "stock "includes the share in an association, joint- "sto ck ." stock company, or insurance company. (6) The term " shareholder " includes a member in an associa- "Shareholder." tion, joint-stock company, or insurance company. (7) The term "United States" when used in a geographical "United states." sense includes only the States, the Territories of Alaska and Hawaii, and the District of Columbia. (8) The term " Secretary " means the Secretary of the Treasury. "secretary ." (9) The term " Commissioner " means the Commissioner of "Commissioner." Internal Revenue.