Page:United States Statutes at Large Volume 53 Part 1.djvu/183

 TABLE OF CONTENTS CH1APTER 8-ALASKAN RAILROADS TAX Sec. 1300. Rate of tax. Sec. 1301. Assessment and collection of tax. CHAPTER 8-ALASKAN RAILROADS TAX SEC. 1300. RATE OF TAX. There shall be levied and collected, for each taxable year beginning after December 31, 1938, a tax of one per centum on the gross annual income of all railroad corporations doing business in Alaska, on business done in Alaska. SEC. 1301. ASSESSMENT AND COLLECTION OF TAX. The tax imposed by section 1300 shall be computed and collected in the manner provided in section II of the act of October 3 1913, c. 16, 38 Stat. 114, 174. The proceeds of such tax when collected shall be deposited into the Treasury as miscellaneous receipts, and amounts equal thereto are (1) authorized to be appropriated annually from the general fund of the Treasury, (2) paid to the treasurer of Alaska, and (3) made applicable to general Territorial purposes. If the total of receipts for any fiscal year is greater than the amount appropriated for the payment of such receipts to the Alaskan gov- ernment, such excess is authorized to be appropriated for the follow- ing fiscal year. 173

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