Page:United States Statutes at Large Volume 53 Part 1.djvu/16

 4 CODIFICATION OF INTERNAL REVENUE LAWS SUPPTEMENT P-FOREIGN PERSONAL HOLDING COMPANIES Sec. 331. Definition of foreign personal holding company. Sec. 332. Foreign personal holding company income. Sec. 333. Stock ownership. Sec. 334. Gross income of foreign personal holding companies. Sec. 335. Undistributed supplement P net income. Sec. 336. Supplement P net income. Sec. 337. Corporation income taxed to United States shareholders. Sec. 338. Information returns by officers and directors. Sec. 339. Information returns by shareholders. Sec. 340. Penalties. SUPPLEMENT Q-MUTUAL INVESTMENT COMPANIES Sec. 361. Definition. Sec. 362 Tax on mutual investment companies. SUPPLEMENT R--EXCHANGES AND DISTRIBUTIONS IN OBEDIENCE TO ORDERS OF THE SECURITIES AND EXCHANGE COMMISSION Sec. 371. Nonrecognition of gain or loss. Sec. 372. Basis for determining gain or loss. Sec. 373. Definitions. CIAPTER 1-INCOME TAX SUBCHAPTER A-INTRODUCTORY PROVISIONS SEC. 1. APPLICATION OF CHAPTER. The provisions of this chapter shall apply only to taxable years beginning after December 31, 1938. Income, war-profits, and excess- profits taxes for taxable years beginning prior to January 1, 1939, shall not be affected by the provisions of this chapter, but shall re- main subject to the applicable provisions of the Revenue Act of 1938 and prior revenue acts. except as such provisions are modified by legislation enacted subsequent to the Revenue Act of 1938. SEC. 2. CROSS REFERENCES. The cross references in this chapter to other portions of the chap- ter, 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 chapter are herein classified and designated as- Subchapter A-Introductory provisions, Subchapter B-General provisions, divided into Parts and sec- tions, Subchapter C-Supplemental provisions, divided into Supple- ments 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) Individual citizens of any possession of the United States who are not otherwise citizens of the United States and who are not residents 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.

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