To War Revenue Act and Federal I. War Revenue Act PAGE 18 61 64 65 65 63 63 62 63 61 47 47 48 48 49 48 47 47 Abatement of excess profits tax, claim for Extension of present administrative provisions Installment payments of income and excess profits taxes Carriers transporting their own commodities, subject to tax. Cigars, Tobacco and Manufactures thereof, war tax on: Contracts preventing addition of tax to purchase price. Cosmetics and toilet articles, tax on Custom house entries for withdrawal, stamp tax on. Date stamp taxes are effective..... Date tax on cigars, tobacco, etc., is effective. Definitions: "Admission" for admission tax “Domestic” for excess profits tax. 13 13 13 13 14 14 13 Basis Rates ... ... Tax does not apply to estates transferred as result of death while in Ethyl alcohol, regulations in regard to Excess profits tax: Administrative provisions Commissioner to make necessary regulations. Extension of administrative provisions of law of this Act.. All activities of corporation or partnership deemed a single business. Bond from claimant Claim for abatement Collection of tax on which abatement is claimed. Business, law applies to every Exceptions: Corporations exempted from income tax, and partnerships and in- 15 Government officials 15 Income from weekly premium payment insurance. 16 Exemption: Foreign corporations and non-resident aliens, whose income is less For domestic corporations and partnerships For foreign corporations and partnerships and nonresident aliens. 23 How averaged Deduction and net income, proportion between to be determined by Deduction from war excess profits, how to determine.. Deductible percentage to be determined by Commissioner of Internal Domestic corporations 16 Foreign corporations and nonresident aliens.. Domestic partnerships and citizens or residents of U. S.. 16 16 Where average prewar income cannot be determined. 17 Where business is a reorganization or combination of one in existence 17 PAGE 17 17 Where business was not in existence during prewar period............ "Foreign" 13 "Net income" for nonresident aliens and foreign corporations. 14 Munitions manufactures, tax of Sept. 8, 1916, on, lowered to 10 per Net income of corporation, how to determine. For 1911 and 1912 For 1913 For taxable year Net income of individuals and partnerships, how to determine.. Taxes paid thereunder credited toward war excess profits tax of 25 19 19 19 45 45 Cosmetics and toilet articles. 44 Games Jewelry Motion picture films. Negatives Positives Musical instruments 44 43 43 Extension of present administrative provisions of new taxes.. Facilities furnished by public utilities and insurance, war tax on.. Date Act is effective Invalidity of any section PAGE Repeal of special preparedness fund of Act of March 3, 1917... Dividends are deemed to be paid out of net income of taxable year.. Exemption, specific personal, allowed only to citizens or residents of 42 42 83 83 84 Foreign interest and dividend payments; collectors of, must furnish Funds withheld under Act of 1916, release of... Income and excess profits taxes paid during taxable year not deductible from net income: Corporations Domestic Foreign Individuals Citizens or residents. Nonresident aliens Information: By brokers of customers and their profits and losses By corporations of dividends paid and recipients thereof Of fixed and determinable payments in excess of $800.. Of interest payments on bonds, mortgages and deeds of trust, Penalties for refusal to furnish or for fraudulent.. Interest paid on debt incurred in purchase of tax-exempt securities 82 Domestic 82 83 Individuals ... Citizens or residents. Nonresident aliens Obligations of United States issued after September 1, 1917, exempt Partnerships may fix their own fiscal year.... 72 72 73 Returns: Fiduciaries need make none for income not in excess of $3,000..... 75 Specific personal exemption: Allowed only to citizens and residents of the United States.... |