316 SIXTY—EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. Gm "AX- credited against and applied in reduction of the estate tax, which would otherwise be chargeable against the estate of the decedent __ under the provisions of section 301, an amount equal to the tax aaiiivniiigiuiiiimguiii paid with respect to such gift; and in the event the donor has in an year aid the tax imposed by section 319 with respect to a
or gifts which tlpon the death of the donor must beincluded
1n his gross estate an a gift or gifts not required to be so included, then the amount of the tax which shall be deemed to have been paid with respect to the ift or gifts required to be so included shall be that proportion of gmc entire tax paid on account of all such gifts which the amount of the gift or gifts required to be so mcluded R bears to the total amount o gifts in that year. ywit;°$is¤1i° Sec. 323. Any person who within the year 1924 or any calendar ‘“ °’°°Ss °"’°‘*“°“°““· year thereafter makes any ift or .in excess of the deductions allowed by section 321 shag, on or before the 15th day of March, _ file with the collector a return under oath in duplicate, listing and Dmns '°°°"°°' setting forth therein all gifts and contributions made by him durin such calendar year (other than the gifts specified in paragraph (3% of subdivision (a) and in paragraph (2) of subdivision (b) of section 321), and the fair market value thereof when made, and also all sales and exchanges of property owned by him made within such year for less than a fair consideration in money or money’s worth, stating therein the fair market value of the property so sold or exchan and that of the consideration received by him, both umu, mmm by as of the gte of such sale or exchange. now. Sm. 324. The tax imposed by section 319 shall be paid by the donor on or before the 15th day of March, and shall be assessed, collected, and paid in the same manner and subject, in so far as applicable, to the same provisions of law as the tax imposed by section 301. "" °§',,,,°]§$S Am TITLE IV.-—TAX ON CIGARS, TOBACCO, AND MANUFACTURES THEREOF. miifiizifgiiéii Sgi°s1i)¤¥ Sec. 400. (a) Upon cigars and cigarettes manufactured in or im- "°“°" ported into the United States, and hereafter sold by the manufac— ,,,§;,%;§€°‘°°°‘·”·°““· turer or importer, or removed for consumption or sale, there shall be levied, collected, and paid under the provisions of existing law, _ in lieu of the internal-revenue taxes now imposed thereon by section ‘°'· *’· ’· ”‘· 700 of the Revenue Act of 1921, the following taxes, to be paid by Rf"°’*· the manufacturer or importer thereof-
- "*;‘;‘· On cigars of all descriptions made of tobacco, or any substitute
tm ‘ ghergfor, alpd weighing not more than three pounds per thousand, H . H 1.5 per thousand ; Basil 0 mm D °°` On cigars made of tobacco, or any substitute therefor, and weighin more than three pounds per thousand, if manufactured or imported to retail at not more than 5 cents each, $4 per thousand; If manufactured or imported to retail at more than 5 cents each and not more than 8 cents each, $6 per thousand; If manufactured or imported to retail at more than 8 cents each and not more than 15 cents each, $9 per thousand; If manufactured or imported to retail at more than 15 cents each and not more than 20 cents each, $12 per thousand; If manufactured or imported to retail at more than 20 cents each, C,mm,0nmm,_ $15 per_thousand; . On cigarettes made of tobacco, or any substitute therefor, and weighing not more than three pounds per thousand, $3 per thousand; Emu pm Mud' Weighing more than_three pounds pei- thousand, $7.20 per thousand. (b) Whenever m this section reference is made to cigars manufactured or imported to retail at not over a certain price each, then in
