Page:United States Statutes at Large Volume 50 Part 1.djvu/462

 75TH CONGRESS, 1ST SESSION-CH. 405-JUNE 29, 1937 (g) The term "company" includes corporations, associations, and joint-stock companies. (h) The term "employee" includes an officer of an employer. (i) The term "carrier" means an express company, sleeping-car company, or carrier by railroad, subject to part I of the Interstate Comm erce Act. (j) The term "person" means an individual, a partnership, an association, a joint-stock company, or a corporation. INCOME TAX ON EMPLOYEES SEC. 2 . (a) In addition to other taxes, there shall be levied, col- lected, and paid upon the income of every employee a tax equal to the following percentages of so much of the compensation of such employee as is not in excess of $300 for any calendar month, earned by him after December 31, 1936- 1 . With respect to compensation earned during the calendar years 1937, 1938, and 1939, the rate shall be 23/4 per centum 2. With respect to compensation earned during the calendar years 1940, 1941, and 1942, the rate shall be 3 per centum ; 3 . With respect to compensation earned during the calendar years 1943, 1944, and 1945, the rate shall be 31/4 per centum ; 4. With respect to compensation earned during the calendar years 1946, 1947, and 1948, the rate shall be 31/2 per centum ; 5 . With respect to compensation earned after December 31, 1948, the rate shall be 33/4 per centum ; (b) The tax imposed by this section shall be collected by the employer of the taxpayer by deducting the amount of the tax from the compensation of the employee as and when paid. If an employee is paid compensation by more than one employer with respect to any calendar month, then, under regulations made under this Act, the Commissioner of Internal Revenue may prescribe the proportion of the tax to be deducted by each employer from the compensation paid by him to the employee with respect to such month. Every employer required under this subsection to deduct the tax is hereby made liable for the payment of such tax and shall not be liable to any person for the amount of any such payment. (c) If more or less than the correct amount of tax imposed by thi s sect ion is paid with r espect to an y compe nsatio n paym ent, t hen. under regulations made under this Act by the Commissioner of Internal Revenue, with the approval of the Secretary of the Treas- ury, proper adjustments, with respect both to the tax and the amount to be deducted, shall be made, without interest, in connection with subsequent compensation payments to the same employee by the same employer. EXCI SE TAX ON EM PLOY ERS SEC. 3. (a) In addition to other taxes, every employer shall pay an excise tax, with respect to having individuals in his employ, equal to the following percentages of so much of the compensation as is not in excess of $300 for any calendar month paid by him to any employee for services rendered to him after December 31, 1936

Provided, however, That if an employee is paid compensation by more than one employer with respect to any such calendar month, the tax impos ed by this s ection shall apply to not more than $ 300 of the aggregate compensation paid to said employee by all said employers with respect to such calendar month, and each such employer shall be liable for that proportion of the tax with respect to such compen- sation which his payment to the employee with respect to such cal- "Company ." "Employee" to in. clude officer, etc. "Carrier ." "Person ." 437 Income tax an em- ployees. Additional to other taxes . Rates. Collection by em. . plover. Com pensat ion pa id by more than one em- ployer . Liability for ment. Adjustments. Excise tax on em- ployers . Additional to other taxes. Pr ovi so. Compensation paid by more than one em- ploy er. Liability for went. pa y- pay