1070 SIXTY-FIFTH CONGRESS. Srass. III. Ch. 18. 1919. “’°°"‘ "*‘· may deem necessa for the calculation of such deductions and §,jg’g’;·my Mmm, credits: Provided Tint the benefit of the credits allowed in subwith wnnnemug divisions (c) and (d) of section 216 may, in the discretion of the °g°°f Commissioner, and except as otherwise provided in subdivision (e) _ of that section, be received by filing a claim therefor with the with-
°*°·· "“° holding agent. In case of failure to file a return, the collector shall
collect the tax on such income, and all property belonging to such nonresident alien individual shall be liab e to distraint for the tax. P¤*¤*¤¤*¤iP* pnrrmiansmrs AND PERSONAL snrzvron coR1>0RA·rroNs. d§‘§'§‘g1°§S“‘°d“m‘ Sec. 218. (a) That individuals carrying on business in partner- Omputing mm 0, ship shall be liable for income tax onlyl in their individual capacity. income. There shall be included in computing; e net income of each partner his distributive share, whether distr1 uted or not, of the net income of the partnership for the taxable year, or, if hisnet income for such taxable year is compluted upon the basis of a period different from that ulpon the basis of w `ch the net income of the partnership is computed, t en his distributive shar·e of the net income of the partnership for aply accormting period of the partnership ending within the fiscal or c endgdyear upon the basis of which the partner’s net income is com u . ,m·‘;§d*P*;@§_?lu$b§;°d;;i The partner shall, for the purpose of the normal tax, be aHowed as ¤m1>¢i<>¤¤ credits, m addition to the credits allowed to him under section 216, his proportionate share of such amounts specified in subdivisions Kms M I (a) Gp;i<%f(b) fp; ipction 2pG as Zlrtenrergpfived bd; gis partnerilhipa Hmm ,1*; °* a year o a e en uring a c en ar ear gmyeun for which the rates of tax diger from those for the preceding calerlidar year, then (1) the rates for such preceding calendar year s all apply to an amount of each_partner’s share of such partnershi net income equal to the proportion which the plart of such fiscalp year falling within such calendar year bears to the full fiscal year, and (2) the ratep fp; tiihe calendgr year during which such fiscal year ends shall ap e remain er.
'°’ *9*8 .1:9; Fc; In the case of an individual member of a partnership which m makes return for a fiscal year beginning m 1917 and ending m 1918,
‘ his proportionate share of any excess-pronts tax imposed ulpon the partnership under the Revenue Act of 1917 with respect to t at part of such Qscal year falhng in 1917, shall, for the purpose of determining the tax rmposed by this title, be credited against that portion of the pet ippcognigmbracpd inghip perional return for the taxable year 1918 _ ow t rates or11 appy.
“‘°°“‘° °°‘“‘ (d) The net income of the partnership shall be computed in thi?
mmm t d same malpner andddon the same basis as provided in section 212, ,,,,0,,,,, °‘ "° °· except t at the e uction rovided in ara h (11) of subdivision (a) of section 214 shall notpbe allowed.P gmp ,,,,$§§,’,§’,L}‘“"°"‘°°°°" (e) Personal service corporations shall not be subject to taxation mpggiy m¤k.u¤m¤¤ under title, but the mdrvndual stockholders thereof shall be
pm,-i. taxed m_ the samemanner as_ the members of partnerships. All
PP · the provisions of this title relating to partnerships and the members Promo thereof shall so far as lpracticable applpy to personal service corp01‘¤· Aceouliuug me ds. tions_and the stockho ders thereof: mvided, That for the purpose
- '“’““°“*’·· of sngidrvisrotns gmoripts distrilpultjeplm by a persprpal S§1'VL§1B (Epi;
_ pora on uring 1 axa e ear s a accounte or 6 ` ug,-’,’,}_"L‘*"“`*’“‘°d “" tnbutees; and any portion ofy the net income remaining unrgstribntéd at the close of its taxable year shall be accounted for by the stockholders of such corporation at the close of its taxable year in proportion to their respective shares.
