. SIXTYJTINTH CONGRESS; =S1¤se.*I.¤'"€é; 27.* 1926. 47 in the cane of forei —<cor irationsznot Flin ` lan·y·0Ece~o1·~plaee ¤'°°“ ’¤· ofrbusineiss in the made _atrthe~same
pa; pmvidedwin section~%7»in» thevcasewefi aunonresideutelien
Q @d¤,|L ‘ `.‘t ,2 i1;.’c, New :,’ I rye wl ,·: ,»i‘= 1· `. J, ` _ I
{(b) »B$urns shall borinide to the ool1octor‘·¤1>‘i1he clistrictin which ,,§,`§’ic{’P“°°*“ °‘ '·ll°
plsceoilbusiness or principal_oiHeeio¤ agency
o‘!=d16‘¤0rp0ratl¢m, »ex·,ifrit hesnoqirineipaly plaeeof business or I princilyggodice or nancy in the United States, tlieuéto the collector ‘“B°"‘“‘°‘°·Md‘ as Ba ‘ orve,e.¤M•ry gl.; .= » li — u ~ ~ i · 3 . - muscles nretniawcafoouranms 1 " , i'I¤‘ ‘Z¥;;"’ '.* Q. I Src. 242. When usedin this+title~·thezterm+‘llifeiinsnwance¤co¤- ,.${,.°2.T"§‘,’§1,‘§,£,§$f$‘“` pany? means an insurance company engaged in the rlmsineiwhof msuingllifeinsurance and &'Bl!HZli@0G1‘§1‘&Ct»S`(lIlCllldiDg’<00liliI8·0bS of oombinbdilife, health, and acci t’»insuran¤e),·thn* reservwfnmds 0t:ivhich~heId for thesffiiliillmenbwf such more than£50 psrcentumiefvitstotal D€$'l'VB`1`IIld8.i· ·:¤w:=% ‘=;<a* · e
%8.» In lieu of the tax imposed··by» seetion 230, §ih8I§-Bhlubé im °" ”°‘ ‘°°°m°’*
leviedgoollected, a.nd··p¢id efore each taxable year upon the net _ V iiicomdof every life: insurance company atv; as follows; > 2 v (1) Inftlg case of a»domestic=h£e msuranee companys; 121,@·per D°“‘°°“°‘“°· eentumzo i ‘netinc0m%;» » · ‘ ~· #‘ l I * l’*· ei ·_ ·‘ (2) Inltlie case~<rf‘•~foreign=Efe insuraneelcom any,‘121,·Q_·per F°'°i““"”°‘ centum of its netincome from SdHI‘GOS’Wltl1l1`l the Unlited States. Sno. 244. (a) In the case of a life insurance reompanythe item: ¤£§’§T'°°‘ °' “'°” m' “ grossdncome "~ moanethe grosseamount; offinoonie received during ` the taxable year from interest, dividends, and==1tnts•¤¤ ~ » F ¤ A mm H __
(b) horm·‘“reeerve‘funds requined·>by=1¤*w*’?»‘includes, inthe servgplundsl roquirretiil
case oi insurance, someaetually .by·#any·bom- Qyggfjjg? °”°°’”*°“‘ pany onamociation with State or Tenitorial eerie pursuant uelaw as guaranty or reserve f1mds,j‘e¤d~‘a¤yefu1ids»1naiuhai1i4gd»1mde&· the chester or =ar¢.ic1es=of ineerpompiou oi, bbvcempanyor association exclusively for the payment of claims arislng·und“en Yc•1•tilcabeq>of m<;)mbe!·sh1·p*0t Holroiesl issued upon the assemment plixnnandihop gu °g(;t.'(,g:gn qt, gpuggj. viii `J *2 ' H·_‘lv ie M " ’~ wr an s
‘· go) is the oaseqof as »iife"insm·anee company ·the1%erm g`§';‘,{§‘g‘;‘§‘,f,;, mm
‘*net income ,:II1b8.!1Bl>Al'l9igl‘0SS imco}ne>_1essa-we si,-U; ncssinwcme. ·-(1); Themmoont of interest reoeived ‘ rtexablevyur E‘°'“’““‘°’“‘· whic under paragraph ¤(4) otvsubdivlsion (b get eectsion·&18~is_ __ V g exemptrfrem t•xab1on*underthis*¢itlc;v`~* lv · J V V _»({ (7; ‘ 'asl
(B)’·jAn ·“Ill0\1D$»B(Sl;l8l to the_¤esoess,¤i! any,¤ov•r the deduction ,,,’§f;1°;";,,§$,’§m,, Q5
xcecified in¥>aragrap · (1)~o£ this subdivisidn,1 f~ of =•¤¤¤·¤¤· _ ‘n:eeln‘o vibe/reserve i‘unds·~requ&red; b =l•w·a ·held~·at.»the beginning andeendfut the •taxableiyea13lplus‘{in caaeoi lite eonipanis ¤po‘1ieies>»·oovea*lng life, healtli, and nemdent
eombinediu onepoliey issued>on*tl16·weeid*y premi1n¤·pty=
ment towlife and euBi@ to -euLoe‘!1•tio¤)‘·4 Kerweenmm of the mean oflsuehgréerveiunds inn ’ g redvby e w)·¤_beld5atf=the ·begi1ming»Und* out of the _ le ‘ mike (j6I!II1!&iUDO!f`»’§hdS togbo the the bdders
'9;··q‘e,>;>xs[;,·£:=_· ’;Y“ li°::‘ r, T’v`f '/a'i‘;iA» Dividodstm d
.i (®)1 earieung reeelved aedividends·· (A)~from a demeetiesoni wee Jpmeih. °` glliiblli-Qdl€1f,·£l}8»D’8 ieorparation enmled to the tenement shewon
- ahd·othem·thwn asco¤p¤pa.tion·o1jganixed¢¤ndoa·vitho mmf
gb:§19&2,lot·.· frbnraty dbneign oer?]oratio¤_w£§m is showin °"l““· 4 e eatisfagtion of the Commissioner at mom ¤·••.1i*·60per een- _ tumsol thmgross imomeot suckjoreign corporation I0l;i¢h€_-t*`k36- I" . year period jending with the c}ose_o its taxable year preceding ‘
