Page:United States Statutes at Large Volume 50 Part 1.djvu/714

 75TH CONGRESS, 1ST SESSION-CH. 6 90- AUG UST 17, 1 937 or any othe r exp enses what soev er : Prov ided, That the term "gross receipts" when used in connection with or in respect of financial transactions involving the sale of notes, stocks, bonds, and other securities, or the loan, collection, or advance of money, or the dis- cou nting of notes, bi lls, or o ther evid ences of debt, sha ll be dee med to mea n the gross intere st, di scount, comm ission, or ot her gr oss in come earned by means of or resulting from said financial transactions Provided further, That in connection with commission merchants, att orneys or ot her ag ents, the te rm "gr oss rec eipts" shall be de emed to mean the gross amount of such commissions or gross fees received by them, and, as to stock and bond brokers, the term "gross receipts" shall be deemed to mean gross amount of commissions or gross fees received, the gross trading profit on securities bought and sold, and the gross interest income on marginal accounts from business done or arising in the District of Columbia : Provided further, That with respect to contractors the term "gross receipts" shall mean their total receipts less money paid by them to sub-contractors for work and labor performed and material furnished by such sub-contractors in connection with such work and labor. (f) The term "fiscal year" means a year beginning on the 1st day of July and ending on the 30th day of the June following. SEO. 2 . No person shall engage in or carry on any business in the District of Columbia after sixty days from the approval of this Act and until July 1, 1938, without first having obtained a license so to do from the Commissioners, except that no license shall be required of any person selling newspapers, magazines, or periodicals, whose sales are not made from a fixed location and which sales do not exceed the annual sum of $2,000. All licenses issued under this title shall expire on June 30, 1938, and no license may be transferred to any other person. All licens es gra nted u nder t his ti tle mus t be c onspic uously poste d on the premises of the licensee and said license shall be accessible at all time s for ins pection b y the pol ice or o ther offi cers duly author- ized to make such inspection. Licensees having no located place of business shall exhibit their licenses when requested to do so by any of the officers above named. Licenses shall be good only for the location designated thereon, ex cept i n the case o f lice nses i ssued hereund er for busin esses which in their nature are carried on at large and not at a fixed place of business, and no license shall be issued for more than one place of business without a payment of a separate fee for each. The Commissioners may, after hearing, revoke any license issued hereunder for failure of the licensee to file a return or corrected return within the time required by this title or to pay any install- ment of tax when due. SEC. 3 . Each application for license shall be accompanied by a filing fee of $10 : Provided, however, That no license fee shall be required of any person if he shall certify under oath that his gross receipts during the year immediately preceding his application, if he was engaged in business during all of such period of time, or his gross receipts as computed in the manner provided in section 5 of this title, if he was engaged in business for less than one year immediately preceding his application, was not more than $2,000. Such application shall be upon a form prescribed and furnished by the Commissioners. SEC. 4 . Every person subject to the tax hereunder shall, within thirty days after the approval of this Act, furnish to the assessor, on a form prescribed by the Commissioners, a statement under oath showing the gross receipts of the taxpayer during the preceding c alend ar ye ar, which said retu rn s hall conta in s uch o ther info r- 125151 °-37-44 Protisos. Term when used i n certa in finan cial tr ans- actions . In connection with commission mer- chants, etc. With respect to con- tractors. "Fiscal year ." Licenses required ; exceptions. Duration ; restric- tion on transfer. Posting, accessibil- ity. Good for designated loc ation only. Revocation. Fil ing fee. Proviso. Exemptions. 689 Financial statement to be furnished.