294 SIXTY—EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. ¤°°°" '*¤· means of coupons, checks, or bills of exchange shall obtain a license from the Commissioner and shall be_ subject to such regulations enabling the Government to obtain the information requ1red under this title as the Commissioner, with the approval of the Secretary, shall e 1 1 · 1oo1;iiig°iS¤liix¢iIu:1iiioii°s9o; prescribe; and whoever knowingly undertakes to collect such pay- °‘°· ments without having obtained a l1cense_therefor, or without complying with such regulations, shall be guilty of a misdemeanor and shall be fined not more than $5,000, or imprisoned for not more than one year, or both. B im°d crrrzmzs or rossnssioxs or mn rmrrnn STATES. uiiiililirsiiiiioiiiiinbiiri Sec. 260. Any individual who is a citizen of any possession of the gJ¤l{8g¤S{;*;’;'°° "°”‘, United States (but not otherwise a citizen of the Un1ted_States) and m who is not a resident of the United States, shall be sub]ect to taxation under this title only as to income derived from sources within the United States, and m sugh case the tax shall be ccanputed and paid in the same manner an su ]ect to the same con 1tions as in the case of other persons who are taxable only as to income derived from such sources. ¥‘auv‘i1i1eIrimdt%xesin, Nothing in this section_shall be construed to alter or amend the "°$§§§°,f°§_‘m_ provisions of the Act entitled "An Act making appropriations for the naval service for the Hscal year ending June 30, 1922, and for ~ other purposesjf approved u§y 12, 1921, relating to the imposition of mcome taxes in the Virgin slands of the United States. Porto Rico and rnnippms. roxrro moo Aim Tm: P1111.u·m1m rsnnms. ,,,,I§,,,t"1°'t,,,_ °m°w°V;° Sec. 261._ In Porto Rico and the Philippine Islands the income tax 39}% ,3.§,;;°e,}f‘*;,,_ pj be lewped, 1g ,X>llected, and paid as provided by law prior ms-:. _ . o e enac men o s ct. l.,,;}§,§{1§’,'I,iY°‘l°s°1°r The Porto Rican or the Philippine Legislature shall have power by due enactment to amend, alter, modify, or repeal the income tax laws in force in Porto Rico or the Philippine Islands, respectively. Income from United smos possessions. INc0m·: mom somzcns wrrruiv mn rossnssroivs 01-* Tun mvrrnn sryrns. ,,,fi,f°§€cif‘§Ze"§ie$l¢$.ig SEQ. 262. (a)_ In the case_of citizens of the United States or do- L¤¤¤¤d Sims ¤°*¤°°$· mestic corporations, satisfying the following conditions, gross in— eécznpe means only gross income from sources within the United _ a es-
- gfé,’;’{?§i°§,'§t d°§'$§°g (3) Ift§0 per cengum fir more toil the lgross gicime (gf such citizen
· or omes ic co ora ion compu_e wit out the ene t of this section), for the three-year period immediately preceding the close of tzigtaxzgzle yiear (cir fop] such paint of such period immediately prec ing e cose o suc taxa e year as may be applicable) was _. _ derived from sources within a possession of the United St tes· and E§;%T5r»§·LE2L§El;é _ (2) If,_ in the case of such corporation, 50 per centum oi? moire of its gpcome (lpomptugeld wphoutéthe bepni t ot this section) for suc e 1 or suc_ pa _ ereo was erive rom the active conduct CMMS deriving 50 of a trade_or business within a possession of the United States; or Eeriogsgrtggstgil active (3) _If, in the case of such citizen, 50 per centum or more of his “’” ‘ gross income (computed Without the benefit of this section) for Such period or such partthereof was de_r1ved from the active conduct of a trade or business within a possession of the United States either on Annmommcemd his own account or as an employee or agent of another. gludggggroigslisglpg. (_b) Notwithstanding the provisions of subdivision (a) there shall · be incluéled 111 gglosstppcolpietag gmounts lpeceived by such citizens or cor ora ions wi in e n1 e tates th d d f mils or mam eo United sem. ’“' ° °’ °'"° '°’“ S°“'°°S
