Page:United States Statutes at Large Volume 68A.djvu/479

 CH. 2 3—FEDERAL UNEMPLOYMENT TAX ACT

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CHAPTER 23—FEDERAL UNEMPLOYMENT TAX ACT Sec. 3301. Sec. 3302. Sec. 3303. Sec. 3304. Sec. 3305. Sec. 3306. Sec. 3307. Sec. 3308.

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Rate of tax. Credits against tax. Conditions of additional credit allowance. Approval of State laws. Applicability of State law. Definitions. Deductions as constructive payments. Short title.

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SEC. 3301. RATE OF TAX There is hereby imposed on every employer (as defined in section 3306 (a)) for the calendar year 1955 and for each calendar year thereafter an excise tax, with respect to having individuals in his employ, equal to 3 percent of the total wages (as defined in section 3306(b)) paid by him during the calendar year with respect to employment (as defined in section 3306(c)) after December 31, 1938. SEC. 3302. CREDITS AGAINST TAX. (a)

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CONTRIBUTIONS TO STATE UNEMPLOYMENT F U N D S. —

(1) The taxpayer may, to the extent provided in this subsection and subsection (c), credit against the tax imposed by section 3301 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 for the taxable year as provided in section 3304. (2) The credit shall be permitted against the tax for the 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 reiquired under section 6071 to file a return for such year; except that credit shall be permitted for contributions paid after such last day, but such credit shall not exceed 90 percent 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. (4) Upon the payment of contributions into the unemployment fund of a State which are required under the unemployment compensation law of that State with respect to remuneration on the basis of which, prior to such payment into the proper fund, the taxpayer erroneously paid an amount as contributions under another unemployment compensation law, the payment into the proper fund shall, for purposes of credit against the tax, be deemed to have been made at the time of the erroneous payment. If, by reason of such other law, the taxpayer was entitled to cease paying contributions with respect to services subject to such other law, the payment into the proper fund shall, for purposes of credit against the tax, be deemed to have been made on the date the return for the taxable year was filed under section 6071. § 3302(a)(4)

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