Page:United States Statutes at Large Volume 52.djvu/493

 PUBLIC LAWS-CL 289-MAY 28, 1938 Title I-Income Tax. Introductory provi- sions. Application of title. To 1938, and there- after. Prior years not af- feeted. Exceptions. Peo". p. 573. TITLE I-INCOME TAX SUBTITLE A-INTRODUCTORY PROVISIONS SEC. 1. APPLICATION OF TITLE. The provisions of this title shall apply only to taxable years begin- ning after December 31, 1937. Income, war-profits, and excess- profits taxes for taxable years beginning prior to January 1, 1938, shall not be affected by the provisions of this title, but shall remain subject to the applicable provisions of prior revenue Acts, except as such provisions are modified by Title V of this Act or by legislation enacted subsequent to this Act. Cross reerences. SEC. 2. CROSS REFERENCES. Effect Classification of pro- visions. Designations. Special classes of taxpayers. Application of gen- eral provisions and of supplements. Estates and trusts, etc., p. 517. Partnerships, p. 621 . Insurance compa- nies, p. 522 . Nonresident alien individuals, p. 527. Foreign corpora- tions, p. 630 . Citizens of U. S. possessions, p. 532. Citizens, etc., deriv- ing large portion of income from U.S. pos- sessions, I). 632 . China Trade Act corporations, p. 533. Foreign personal holding companies, etc, p. 645. Mutual investment companies. p. 552. General provisions. Rates of tax. Normal tax on indi- viduals. Rates upon net in- come. Pot,p. 466. The cross references in this title to other portions of the title, where the word "see" is used, are made only for convenience, and shall be given no legal effect. SEC. 3. CLASSIFICATION OF PROVISIONS. The provisions of this title are herein classified and designated as- Subtitle A-Introductory provisions, Subtitle B-General provisions, divided into Parts and sections, Subtitle C-Supplemental provisions, divided into Supplements and sections. SEC. 4 . SPECIAL CLASSES OF TAXPAYERS. The application of the General Provisions and of Supplements A to D, inclusive, to each of the following special classes of taxpayers, shall be subject to the exceptions and additional provisions found in the Supplement applicable to such class, as follows: (a) Estates and trusts and the beneficiaries thereof,-Supple- ment E. b) Members of partnerships,-Supplement F. c) Insurance companies,-Supplement G. d) Nonresident alien individuals,-Supplement H. e) Foreign corporations,-Supplement I. f) Indivdlual citizens of any possession of the United States who are not otherwise citizens of the United States and who are not resi- dents of the United States,-Supplement J. (g) Individual citizens of the United States or domestic corpora- tions, satisfying the conditions of section 251 by reason of deriving a large portion of their gross income from sources within a possession of the United States,-Supplement J. (h) China Trade Act corporations,-Supplement K. (i) Foreign personal holding companies and their shareholders,- Supplement P. (j) Mutual investment companies,-Supplement Q. SUBTITLE B-GENERAL PROVISIONS Part I-Rates of Tax SEC. 11. NORMAL TAX ON INDIVIDUALS. There shall be levied, collected, and paid for each taxable year upon the net income of every individual a normal tax of 4 per centum of the amount of the net income in excess of the credits against net income provided in section 25. 452 [52 STAT.

�