SIXTY-NINTH CONGRESS. Sass. I. Cx. 27. 1926. 39 period for which the return is so made he has derived a capital net ¤*¤°*¤= *·*· gain or sustained a capital net loss, or earned income. (e) In the case of a return made for a fractional part of a year, m§j,¤g$§_g>gg__ gl gg; mt a return made under subdivision (a), the credits provided in com ee ¤ yar. ( i ivisions (c),v (d), and (e) of section 216 shall be reduced re- speetivgéy to amounts which bear the same ratio to the. full credits provid ‘ in such subdivisions as the number of months in the period or which return is made bears to twelve. months. Trim Aim rnacs ron rrnmo xN¤1vmun,.rAs·rNnnsnrr, ann rrnocuar F“i¤¤ mmm ·· immune ~ · ~ — » Src. 227. (a) Returns (except·in‘the case of nonresident aliens) c,t'§i§,,P’F_"°""‘“°‘°" '°‘ shall be made on or before the iifteenth da of the third month fol- lowing the close of the fisealryear; or, if the return is made on the basis of the calendar Lgcar, then the return shalljbe made on or be~ Nommdmtmm fore the 15th da of arch. In the case of a nonresident alim indi- vidual returns £all be made on or before the fifteenth day of the sixth month following the close of the fiscal year, or, ifithe return is made on the basis of the calendar year, then the return shall be Exummzmwdm made on or before the 15th defy of June. I The Commissioner may appuauou. grant a reasonable extension 0 time for filing returns, under such rules and regulations as he shall prescribe with the approval of the Secretary. Except in, the case of taxpayers who are a road,_no L*’““· such extension shall be for more than aix months. _ Eb) Returns shall be made to the collector for the didzrict in which “'§$,°,°f’“°°°“ '°' ““’ is ocated the legal residence or principal place of business of the person making t ereturn, or if he has no laid residence or princi—· Mmmm Md al place of usiness in the ’Unitcd States, t en to the collector at °”' ' Ealtnnore, Maryland. Pam- III.-—CORPORATIONB °°'°°"“°'“· rex on oonronazrrons T"""“""°"· Sac. 230. (a) In lieu of the tax imposed bg section 230 of the §§E,‘j’;,f’;§,,{“°°“‘** Revenue Act cf 1924, there shall be levied, co ected, and paid for each taxable year upon the net income of every corporation, a tax at the followin rates: ( (1) For the calendar year 1925, 13 per centum of the amount of 1,}:;* °“°“"" ’°°’ gg; net income in excess of the credits provided in sections 236 and
- an » _ _
(2) Igor each calendar year thereafter, 18% per centum of such Tb"’°°'°°" excess amount. V Al o _ , (b) A, taxpayelr whose taxabégsyear is the calendar year and who m2‘§,Y°u“°“‘ ‘”" elects for the ca eridar year 1 to a the tax b 4 this section in four installmentsias proyidiedy in section 2 O, pay P°""‘“ such installments in a cnn? as follows: 4 ‘ . `_ · -i1?;Th6 amount, Ofuiba, fst a¤d`sccond`insta11ments shall each .¤qii¤ ¢6¤tl11¤ Qftlw $¤X,§°¤¤Sl i 1 "` (2; x ,55 amount oi thc`third(_,and fourth installments shall each equa`_ Ztfper f ‘ 1 ‘ oo1rbmoiwxL’.Aiwbi .r:xnia¢r·r1oNs or oonronarions "°‘°‘“’“"P’· ,.·Sno; 231:The following organizationsshall be exempt from tax- ,,§,,°"K°“‘°° °'¤‘*°'”‘ ation under. this title- " · ·* ‘ ‘ $1; Labor, agricultural or horticultural or _ `zations; _ ,,_,L“”°'· “"°“"““"· B 2h Mutual savingsbanlrspnot having a capigllustock represented mlgéieusi Savings Y S ¤*·`°$5 ” " l ( V `
