Page:United States Statutes at Large Volume 70.djvu/899

 70 S T A T. ]

PUBLIC LAW 880-AUG. 1, 1956 FOREIGN

843

SUBSIDIARIES

(j) Subparagraph (A) of paragraph (8) of section 3121(1) of the Internal Revenue Code of 1954 is amended to read as follows: ''(A.) a foreign corporation not less than 20 percent of the voting stock of which is owned by such domestic corporation; or". F I L I N G OF S U P P L E M E N T A L LISTS BY N O N P R OF I T

26 USC 3121.

ORGANIZATIONS

(k) The third sentence of section 3121(k)(1) of such Code is amended by inserting "or at any time prior to January 1, 1959, whichever is the later," after "the certificate is in effect,".

26 USC 3121.

EFFECTIVE DATE FOR WAIVER CERTIFICATES F I L E D BY N O N P R OF I T ORGANIZATIONS

(1) The fifth sentence of section 3121(k)(1) of such Code is amended by striking out "the first day following the close of the calendar quarter in which such certificate is filed," and inserting in lieu thereof "the first day of the calendar quarter in which such certificate is filed or the first day of the succeeding calendar quarter, as may be specified in the certificate,". EFFECTIVE

26 USC 3121.

DATES

(m)(1) The amendments made by subsection (a) and paragraph (1) of subsection (h) shall apply with respect to remuneration l^aid after 1956. The amendment made by subsection (b) shall apply with respect to remuneration paid after October 1956. The amendments made by subsection (c) and paragraph (2) of subsection (h) shall apply with respect to service performed after 1956. The amendments made by paragraphs (1) and (2) of subsection (d) shall apply with respect to service with respect to which the amendments made by paragraphs (1) and (2) of subsection (b) of section 104 of this Act apply. The amendments made by paragraph (1) of subsection (e) shall apply with respect to service performed after 1954. The amendment made by paragraph (3) of such subsection shall apply with respect to taxable years ending after 1954. The amendments made by paragraph (2) of subsection (e) and by subsection (f) shall apply with respect to taxable years ending after 1955. The amendment made by subsection (i) shall apply with respect to taxable years ending on or after December 31, 1956. Thdxamendment made by subsection (1) shall apply with respect to certificates filed after 1956 under section 3121 (k) of the Internal Revenue Code of 1954. (2)(A) Except as provided in subparagraph (B), the amendment made by subsection (g) shall apply only with respect to taxable years ending after 1956. (B) Any individual who, for a taxable year ending after 1951 and prior to 1957, had income which by reason of the amendment made by subsection (g) would have been included within the meaning of "net earnings from self-employment" (as such term is defined in section 1402 (a) of the Internal Revenue Code of 1954), if such income had been derived in a taxable year ending after 1956 by an individual who had filed a waiver certificate under section 1402(e) of such Code, may elect to have the amendment made by subsection (g) apply to his taxable years ending after 1954 and prior to 1957. No election made by any individual under this subparagraph shall be valid unless such individual has filed a waiver certificate under section 1402(e) of such

^^'«' P- ^24.

26 USC i402.

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