Page:United States Statutes at Large Volume 52.djvu/405

 PUBLIC LAWS-CH. 223-MAY 16, 1938 "District." "(b) The term 'District' means the District of Columbia. "Tapayer." "(C) The term 'taxpayer' means any person liable for any tax hereunder. "ommissioners." "(d) The term 'Commissioners' means the Commissioners of the District or their duly authorized representative or representatives. "Busine." "(e) The term 'business' shall include the carrying on or exercis- ing for gain or economic benefit, either direct or indirect, any trade, business, profession, vocation, or commercial activity including rental of real estate and rental of real and personal property, in any com- merce whatsoever in the District, in or on privately owned property and in or on property owned by the United States Government, or by the District, not including, however, labor or services rendered by any individual as an employee for wages, salary, or commission. Activities not in- "The term 'business' shall not include the usual activities of boards of trade, chambers of commerce, trade associations or unions, or other associations performing the services usually performed by trade associations and unions, community chest funds or foundations, cor- porations organized and operated exclusively for religious, chari- table, scientifc, literary, or educational purposes, or for the preven- tion of cruelty to children or animals, or clubs or fraternal organ- izations operated exclusively for social, literary, educational, or fraternal purposes, where no part of the net earnings or income or receipts from such units, groups, or associations inures to any pri- vate shareholder or individual, and no substantial part of the activi- ties of which is carried on for propaganda or attempting to influence ncuionS, if engag- legislation: Provided, however, That if any such units, groups, or ing in business. associations shall engage in activities other than the activities in which such units, groups, or associations usually engage, such activi- ducted for gain etc. ties shall be included in the term 'business': Provided further, That activities conducted for gain or profit by any educational institution, hospital, or any other institution mentioned in this subparagraph, are included in the term 'business'. Gross receipts." "(f) The term 'gross receipts' means the gross receipts received from any business in the District, including cash, credits, and property of any kind or nature, without any deduction therefrom on account of the cost of the property sold, the cost of materials, labor, or services, or other costs, interest or discount paid, or any expense rovisos. whatsoever: Provided, That any credits included b a taxpayer ta)cetion of cer - in a prior return of gross receipts which shall not have been collected during the period since the filing of the return in which the credit was included may be deducted from the gross receipts covered by edncluonr it c'ecs t the subsequent return: Provided, however, That if such credit shall ing taxable period. be collected during a succeeding taxable period, such item shall be included in the return of gross receipts for such succeeding taxable Term whenused in period: Provided further, That the term 'gross receipts' when used certain financial tram - actions. in connection with or in respect to financial transactions involving the sale of notes, stocks, bonds, and other securities, or the loan, collection, or advance of money, or the discounting of notes, bills, or other evidences of debt, shall be deemed to mean the gross interest discount or commission, or other gross income earned by means of In connection with or resulting from said financial transactions: Provided further, That ctnts, attorneys, etc. in connection with commission merchants, attorneys or other agents, the term 'gross receipts' shall be deemed 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: 364 [52 STAT.

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