...the revenue act of 1917, 40 Stat. 303-307. The applicable portion of section 201 provides : " That in addition to the taxes under existing law and under this act there shall be levied, assessed, collected, and paid for each taxable year upon the income of every...

...or actual cash value of the tangible property paid therefor at the time of such payment. SEC. 209. That in the case of a trade or business having no invested ness «Shout ш^езы capital or not more than a nominal capital there shall be levied, <*Р1Шassessed,...

...63, p. 307 (Comp. St. 1918, Comp. St. Ann. Supp. 1919, § 63363/8j), which is as tollows : "That hi the case of a trade or business having no invested...under this act, In lieu of the tax imposed by section two hundred and one, a tax equivalent, to eight per centum of the net income of such trade or business...

...plaintiff from the exempted class described in section 209 of the Revenue Act of 1917, as "the class of a trade or business having no invested .capital, or not more than a nominal capital," and also exclude the plaintiff from the exempted class of personal service corporations under the Revenue...

...hundred and twelve, and nineteen hundred and thirteen." Section 200 (section 6336%a). "Sec. 201. That in addition to the taxes under existing law and under this act there shall be levied, assessed, collected, and paid for ench taxable year upon the income of every...

...or actual cash value of the tangible property paid therefor at the time of such payment. SEC. 209. That in the case of a trade or business having no...under this Act, in lieu of the tax imposed by section two hundred and one, a tax equivalent to eight per centum of the net income of such trade or business,...

...business is. Business with having no invested capital or not more than a nomi- nomlnal cflp|tal nal capital there shall be levied, assessed, collected,...law and under this act, in lieu of the tax imposed Tax «ts% an net by section two hundred and one, a tax equiva- lncome lent to eight per centum of the...

...25% 1,250 5,000 35% 1,750 8,000 45% 3,600 17,000 60% 10,200 Bate of Tax in Ca-e of Nominal Capital. In the case of a trade or business having no "invested capital" or not more than a nominal capital a tax of 8% is imposed upon the net income of such trade or business, in excess of the specific exemption...

...35% 1,750 8,000 45% 3,600 17,000 60% 10,200 $50,000 $17,400 Rate of Tax in Case of Nominal Capital. In the case of a trade or business having no "invested capital" or not more than a nominal capital a tax of 8% is imposed upon the net income of such trade or business, in excess of the specific exemption...

...invested capital as the average similar deductions of like businesses. In the case of a business or trade having no invested capital or not more than a nominal capital, there shall be levied, assessed and paid in lieu of this tax, a tax of 8% of the Net Income of such business or trade in excess of...