Page:United States Statutes at Large Volume 55 Part 1.djvu/740

 55 STAT.] 77TH CONG. , IST SESS.-CH. 412-SEPT. 20, 1941 "(c) The right to exemption under this section shall be evidenced in such manner as the Commissioner with the approval of the Secre- tary may by regulation prescribe." SEC. 549. INSTALLMENT, ETC, PAYMENTS. Section 3441 (c) of the Internal Revenue Code is amended to read as follows: "(c) (1) In the case of (A) a lease, (B) a contract for the sale of an article wherein it is provided that the price shall be paid by installments and title to the article sold does not pass until a future date notwithstanding partial payment by installments, or (C) a con- ditional sale, there shall be paid upon each payment with respect to the article that portion of the total tax which is proportionate to the portion of the total amount to be paid represented by such payment. "(2) In the application of paragraph (1) to the articles with respect to which the rate of tax is increased by the Revenue Act of 1941 or by the Revenue Act of 1940, where the lease, contract of sale, or condi- tional sale, and delivery thereunder- "(A) was made before July 1, 1940, the total tax referred to in paragraph (1) shall be the tax at the rate in force on June 30, 1940, and not at any greater rate; or "(B) was made after June 30, 1940, and before October 1, 1941, the total tax referred to in paragraph (1) shall be the tax at the rate in force on September 30, 1941, and not at any greater rate. "(3) Despite the provisions of paragraph (1), no tax shall be imposed with respect to any article not taxable under the law in existence on the day before the date of the enactment of the Revenue Act of 1941, if with respect to such article the lease, contract for sale, or conditional sale, and delivery thereunder, was made before October 1, 1941." SEC. 550. EFFECTIVE DATE OF PART IV. 715 53 Stat. 416 . 26 U.S. C. §3441(c). 54 Stat. 516 . (a) The amendments made by this Part shall be applicable only with respect to the period beginning with the effective date of this Part, and the rates specified in section 1650 (a), section 1807 (b), MStt. 522 -52 . section 2004, section 2800 (g), and section 3190 of the Internal Reve- (a), i17 .), 2004, nue Code shall not apply with respect to such period. This Part shall 2SW (g) 31VO take effect on October 1, 1941. (b) Despite the provisions of subsection (a), the tax imposed by qtast. io.00e) section 1700 (e) of the Internal Revenue Code, as amended by section 542 of this Act (relating to cabaret, etc., tax), shall be applicable only Ane, p. 710. with respect to the period beginning at 10 a. m. on October 1, 1941, and the tax imposed by such subsection as in force prior to its amendment by section 542 of this Act, as modified by section 1650 (a) 54 stat. 522. of the Internal Revenue Code, shall be applicable with respect to the (a). u C15 period before 10 a. m. on such date. (c) Despite the provisions of subsection (a), the amendment of section 3465 (a) (2) made by section 548 of this Act (relating to tax p Stat- 422; ante, p. 714. on leased-wire, etc., services) shall be applicable only to amounts paid 26 u. s. c. 3a on or after such effective date for services rendered, on or after October (a ) ( 2) 1, 1941, and the provisions of such subsection before its amendment by section 548 shall be applicable with respect to the period before October 1, 1941. (d) Despite the provisions of subsection (a), section 3465 (a) (3) 5 .ts 4 .c. 346 of the Internal Revenue Code (relating to tax on telephone bills), (a). added to the Internal Revenue Code by section 548 of this Act, shall An P 714. apply only to the amounts paid in pursuance of bills rendered, after October 5, 1941, for services for which no previous bill was rendered.

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