Page:United States Statutes at Large Volume 53 Part 2.djvu/911

 53 STAT.] 76TH CONG., 1ST SESS.-CH. 666-AUG. 10, 1939 "(4) In handling, planting, drying, packing, packaging, proc- essing, freezing, grading, storing, or delivering to storage or to market or to a carrier for transportation to market, any agricul- tural or horticultural commodity; but only if such service is performed as an incident to ordinary farming operations or, in the case of fruits and vegetables, as an incident to the prepara- tion of such fruits or vegetables for market. The provisions of this paragraph shall not be deemed to be applicable with respect to service performed in connection with commercial canning or commercial freezing or in connection with any agricultural or horticultural commodity after its delivery to a terminal market for distribution for consumption. "As used in this subsection, the term 'farm' includes stock, dairy, "Farm." poultry, fruit, fur-bearing animal, and truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily for the raising of agricultural or horticultural com- modities, and orchards." SEC. 607. Subchapter A of chapter 9 of the Internal Revenue Code Ante, p. 175. is amended by adding at the end thereof the following new section: "SEC. 1432. This subchapter may be cited as the 'Federal Insur- coFtdbelutnsuAncet ance Contributions Act'." SEC. 608. Section 1600 of the Internal Revenue Code is amended A",p l'83;po', p. to read as follows: R.on empo ers . "SEC. 1600 . RATE OF TAX. ei t more Rate of tax. "Every employer (as defined in section 1607 (a)) shall pay for oteo , ppl92,1420. the calendar year 1939 and for each calendar year thereafter an excise tax, with respect to having individuals in his employ, equal to 3 per centum of the total wages (as defined in section 1607 (b)) paid by him during the calender year with respect to employment (as defined in section 1607 (c)) after December 31, 1938." SEC. 609. Section 1601 of the Internal Revenue Code is amended 1.t R . So101. to read as follows: "SEC. 1601 . CREDITS AGAINST TAX. "(a) CONTRIBUTIONS TO STATE UNEMPLOYMENT FUNDS. - -Contrbutions to "(1) The taxpayer may, to the extent provided in this sub- funds. section and subsection (c), credit against the tax imposed by section 1600 the amount of contributions paid by him into an unemployment fund maintained during the taxable year under the unemployment compensation law of a State which is certified , p. s; pot. for the taxable year as provided in section 1603. p. 131. "(2) The credit shall be permitted against the tax for the I R C. 1 03. taxable year only for the amount of contributions paid with respect to such taxable year. "(3) The credit against the tax for any taxable year shall be permitted only for contributions paid on or before the last day upon which the taxpayer is required under section 1604 to file a return for such year; except that credit shall be per- mitted for contributions paid after such last day but before July 1 next following such last day, but such credit shall not exceed 90 per centum of the amount which would have been allowable as credit on account of such contributions had they been paid on or before such last day. The preceding provisions of this subdivision shall not apply to the credit agaist the tax of a taxpayer for any taxable year if such taxpayer's assets, at any time during the period from such last day for filing a return for such year to June 30 next following such last day, both dates inclusive, are in the custody or control of a receiver, trustee, or other fiduciary appointed by, or under the control of, a court of competent jurisdiction. 98907°- 39---r 2-56 1387

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