Page:United States Statutes at Large Volume 58 Part 1.djvu/53

 78TH CONG. , 2o SESS.-CH. 63-FEB. 25, 1944 "(B) that portion of a tentative tax, computed as if the law applicable to taxable years beginning on January 1, 1941, were applicable to such taxable year, but as if the amendments made by sections 102 and 103 of the Revenue Act of 1942 were applicable to such taxable year, which the number of days in such taxable year after June 30, 1942, bears to the total num- ber of days in such taxable year. "(b) TAXABLE YEARS BEGINNING IN 1943 AND ENDING IN 1944. - In the case of a taxable year beginning in 1943 and ending in 1944, the tax imposed by sections 11, 12, 13, 14, 15, and 450 shall be- "(1) CORPORATIONS. -In the case of a corporation, an amount equal to the sum of- "(A) that portion of a tentative tax, computed as if the law applicable to taxable years beginning on January 1, 1943, were applicable to such taxable year, which the number of days in such taxable year prior to January 1, 1944, bears to the total number of days in such taxable year, plus "(B) that portion of a tentative tax, computed as if the law applicable to taxable years beginning on January 1, 1944, were applicable to such taxable year, which the number of days in such taxable year after December 31, 1943, bears to the total number nf days in such taxable year. "(2) TAXPAYERS OTHER THAN CORPORATIONS. - In the case of a taxpayer other than a corporation, an amount equal to the sum of- "(A) that portion of a tentative tax, computed as if the law applicable to taxable years beginning on January 1, 1943, were applicable to such taxable year, which the number of days in such taxable year prior to January 1, 1944, bears to the total number of days in such taxable year, plus "(B) that portion of a tentative tax, computed as if the law applicable to taxable years beginning on January 1, 1944, were applicable to such taxable year, which the number of days in such taxable year after December 31, 1943, bears to the total number of days in such taxable year. "(C) SPECIAL CLASSES OF TAXPAYERS.- TIlis section shall not apply to an insurance company subject to Supplement G, an investment company subject to Supplement Q, or a Western Hemisphere Trade Corporation, as defined in section 109." (b) TAXABLE YEARS TO WHICH APPLICABLE. -Section 108 (a) of the Internal Revenue Code, as amended by subsection (a) of this section, shall be applicable to taxable years beginning in 1941 and ending after June 30, 1942. The other amendments made by subsection (a) of this section shall be applicable only to taxable years beginning in 1943 and ending in 1944. SEC. 109. EXCLUSION FROM GROSS INCOME OF MUSTERING-OUT PAYMENTS FOR MILITARY AND NAVAL PERSONNEL. Section 22 (b) (relating to exclusions from gross income) is amended by inserting at the end thereof the following: "(14) MUISTERING-OUT PAYMENTS FOR MILITARY AND NAVAL PER- sONNEL.- Amounts received during the taxable year as mustering- out payments with respect to service in the military or naval forces of the United States." 56 Stat. 802 . 26 U. S. C., Supp. HI, § 11, 12. 53 Stat. 5; 56 Stat. 884. 26U.S.C. § 12-14; Supp. III, 66 11-15, 450. Ante, p. 31; post, pp. 231, 232, 234. 3 Stat. 71 98. 26U.S.C.§201- 208; Supp. 111, §2201- 28 31;1, 362. Pot, pp. 52, 53. 56 Stat. 8.38. 26 U. S. C., Supp. I, 109g. Ante, p. 32. 53 Stat. 10. 26U. Sc. . 22 (b); Supp. III, § 22 (b). Ante p.8. Post,p. 241 . 93650°--45 --PT. I--3 33 58 STAT.]

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