.112 SIXTY·FIRST CONGRESS. Sess. I. Ch. 6. 1909. not to exceed thirty cents per ton per annum, is hereby imposed at each entry on all vessels which shall beentered in any port_ of the _ e,Z°"°l‘ "‘ ‘“"’“"* United States from any other foreign port, not, however, to include vessels in distress or not engaged in trade. _ ,,§f‘,§'{,,"‘}‘,,*,{,;,,,{,f‘f*"‘· Thissectionshall not be construed to amend or repeal section twenty- $¤}·¤•<·~2’·%4r'»-541- seven hundred and ninety-two of the Revised Statutes as amended °`°5’”‘ in by section one of chapter two hundred and twelve_of the laws of nineteen hrmdred and eight, ariiproved May twenty-eighth, nmeteen » hundred and eight, or section ve of the said chapter two hundred “·“··'°°·”*•¥’·"“· and twelve of the laws of nineteen hundred and_eight, or section _ twenty-seven hundred and ninetythree of the Revise Statutes. §§,,'l’°“”8 ‘°"’ "·` Section forty-two lnmdred an thirty-two of the Revised Statutes, $;g··¤¤<=- 4%. r- 815- and sections e even and twelve of chapter four hundred and twenty- R.S;;4€¤l)-l2].§,p.813. one of the laws of e' hteen hundred and eighty-six, approved June
- ""'· *’· ““’- nineteenth, eighteenlliundred and eiglhty-six, and so much of section
forty-two hundred and nineteen of the Revised Statutes as conflicts with this section, are herebiy repealed. _ I" °“"°“"“°"“"‘· This section shall take e act sixty days after the approval of this Act. e,:,}i‘,§,,“5{ ,¥;‘,,,_°,§_ {Q Sec. 37. There shall be levied and collected annually on the iirst day of September by the collector of customs of the district nearest the residence of the managing owner, upqi the use of every foreignbuilt yacht, pleasure—boat or vessel, not uqgd or intended to be used for trade, now or hereafter owned or chagctered for more than six months by any citizen or citizens of the United States, a sum equivalent to a tonnage tax of seven dollars per gross ton. ,,,’§f,‘§}"'·“°°°‘ ‘*“‘Y In lieu of the annual tax above prescribed the owner of any foreign- _ _ built yacht, pleasure-boat or vessel above described may pa a duty P““I°*°'· °'°· of i·l.\1I'ty—5.V8 per centum ad valorem thereon, and sued yacht, K S__,m,_ ,2,4, mg pleasure-boat or vessel shall thereupon be entitled to all the privileges
- 2*% *2**% P- 811 and shall be subject to all the requirements prescribed by sections
forty-two hundred and fourteen, forty-two hundred and fifteen, forty- two hundred and seventeen, and forty-two hundred and eighteen of the Revised Statutes and Acts amendato thereto in the same manner as if said yacht had been built in thellrlnited States, and shall be subject to tonnage duty and light money only in the same manner Tonnage Hemp as i said yacht had been builtin the United States. tions mended. So much of section five of chapter two hundred and twelve of the v°l‘°5"’·"i" laws of nineteen hundred and eight, approved Ma twenty-eighth, nineteen hundred and eight, as relates to yachts guilt outside the Uniteflftates and owned by citizens of the United States is hereby re a e . l””"°l” ”‘"]"d*d‘ llghis section shall not apply to a foreign-built vessel admitted to C0 t_ American registry. _ gE§§{{,'}" {,‘§§,’§;,,, ,,,, _ Sec. 38. _ rat every corporation, joint stock company or associa- 0** °¤*¤°¤¤ ¤*· tron, organized for profit and having a capital stock represented by shares, and every insurance company, now or hereafter organized under the laws of the United States or of any State or Territory of the United States or under the Acts of Congress applicable to Alaska or the District of Columbia, or now or hereafter organized under the laws of any foreign country and engaged in business in any State or Territory of the United States or in Alaska or in the District of ’“°“°" ‘*“""°'*”‘“· Columbia, shall be subject to pay annually a special excise tax with respect to the carrying on or doing business by such corporation, joint stock company or association, or insurance company, equivalent to one per centum upon the entire net income over and above five thousane dollars received by it from all sources during such year, exclusive of amounts received by it as dividends upon stock of other corporations, joint stock companies or associations, or insurance com anies, subject to the tax hereby imposed; or if organized under the ihws of
