18 $XTY·rliINTHrCONQRE$$»,n;Seser I. Os. 27.: 1926; ‘l""l"‘”"" l°S$ lll°}¥t1l¢1¥3¤tll0$l;9fr;¤4ll0YEl¤g_ such deduction insuch third year
tgc S%m°:$8lP¥QV1d6d»>lD subdirisionr(c).e.: it { . r or
¤°$‘§.’“?§*°‘i¤¤i°° .23 . $9) if QF l>h¤_¤l9X¤ble~yeer a taxpayer sustained; not loss gglguu AM of w1th1n the provisions of the Revenue Act of ,182],,10raf for the ’ tairable year 1924 a taxpayer; sustained a net loss within the pro— visions of the Revenue Act of 1924, the amount of such net oss shall¥be·e1lowed{)las adeductxonin computing not income fererthe two W eueccedmgstexe egjearsto the samcexteat andtiu the same scanner — $8 ¤ not 10S§·$l¥$l?i!;¥J?9<lz~f0I: one taxable i €&Il;1S;>_\H1(l»¢1` thas Act, A Minn ,0, lp- ellowedras a deduction for the two succeeding taxable years, in hiuerles www .~(f)»1f est eyqr.makce,rctucn,for;ra penodvheginning in one ’°°”· calender yearglhcreineftor in tleseubdivineurcalledr *»ey arse calendar year") and_ending.1n\,tha iollp °, ;calenda1:`.year_. (hereinafter in _ qsecoudiiliicgalendart ·year,")n,and the law , ¤PplQ~<>8· Q lice ;hl16r;8§!~}9I1d calendar year as different from the law ap licable to the first calendar year, then his mt lossfcr the . nod Determluatlonof . . _ _ F5 ¤¤>¤<>=¤·>¤- mg! e, rduwlg #{9-.S9£iQPd.9$19¤d&¥)yBBP shall, be the sum, 0 :_»(1) the Sami? 9fs;9·r¤°t ~f9?rl7h$ imtlm ,P9U0d» xmder ther awyapplgpiable to the,first,calendar iyear, which the porjtion,,o{g?eh peri _ _ fallingavithinrsueh calendar year is of the entire , gland (2) the S3§IJ,B,£1T0¥QI'l·lQD.‘Df annet loss for the entire period, determined un er t e aw applicable to the_Soc¤nd calendar,year,,_which thegportioniobsuch period within such Benefits allowed ls ` i ’ ‘ ° ‘ ‘ i '· ` i {xmas, atm or _ (g) ,, _e benefit of thm, section shall he allowed to the members
- =°=· wd *¤**”°¤°° of a partnership, to, an estaterortrust, andyto insurance com es
companies. . . , T . s _ V, ., 1>.»e,pp.41.4e. subject to the tax, 1m,posed by seqtmn or 246, under, ations prescribedybythe Commissioner with the approval of thef rotary. Fiscalyears. D" YE·‘!'HB ` V_` not iz od ""'**‘ =‘~""*·’ o ~·’ ·‘ ·¤g‘}§,’“;,,,,H,f;°g,“d,, y Sr:o.—20Z, ,(a) _If,the_ tagrpa erymakes _return_ for a epod be -, §?§,,J~“*‘ M ’¤ ¤i¤cZi¤2· ‘¤¤e¤e1esd¤;;.r¤i¤r (hereinafter in fins subdhsiop ‘ " iirst__calendar,year,, ending lll the following calen ar, year (h¤1`€1¤¤·f*~€?_iKle·Ph¥Q eubd¤v¤e¤ou· <m11¤<i¢"¤eco¤d ceienger. year") and the lawapplicable to the second calendar year is dr erent from the lay rapplicableto, the first calendar yearfthen his tax under Mmmm my duh thistitlé or the period ending during me _second,,calendar year mum. shall be the sum of: (,22 the`same`proport1on_ of a {taxi for the entire period, determini under the law applicable to the first calendar year and at the rates for such year, which the portion of such riod falling within the first calendar year is offthe entire , s and (2&$¤¤¤.¤em¤nrr¤perti¤¤i of Mex,) or ¢h¤_a¤¢ir¢‘1>¤ri<>d» dztermwed un or the law applicable to the second calendar year and at'the rains for such year which the portion oofsuch period falling within the secondpcalenda1;sy`ear is o the entire lperiod. ,,§£§’},‘,°Y“°“ °° "‘*‘ If aifiscal ear of adpartne ip begins inone ca endar year an ends in another calen or year and t _ei law applicable to the second calendar] year is different irom the law iapiplicable to the iirst_`calendar»year, then (1) the rates for the caleu ar year during which such iiscal year begins shallapply to an amounts of jeac artnerls share of such partnership not income (determined under the law applicable to such calendar year) canal to the proportion which the part of such fiscal year fa] ing wi inosuch calendar year bears topthe full fiscal year, and (2) the rates for the calendar year during which such fiscal year ends shall apply to an amount of each _partner’s share of such partnership net mcome (determined under the law applliciable to such calendar year) equal to the proportion which t e part of such fiscal year falling within such calendar year bears to the full fiscal year. In such ewes the part
