Page:United States Statutes at Large Volume 43 Part 1.djvu/355

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324 sixrr-EIGHTH coucnnss. Sess. 1. os. 2s4. 1924.

      • 5* MHS- Sec. 603. Every person liable for any tax imposed by section 600

p,1f,§’,‘YQ{’,*{1,Y'°t"'”‘ and or 602 shall make monthly returns under oath in duplicate and pay the taxes imposed by such sections to the collector for the district in which is located the principal place of business. Such returns shall contain such information and be made at such times and in such manner as the Commissioner, with the approval of the Secretary, may by regulations plrescribe. '!"¤¤‘°'P°Y”*°°‘· The tax shall, wit out assessment by the Commissioner or notice from the collector, be due and ayable to the collector at the time so P¤¤¤**Y'°*"*“*¤°· fixed for filing the return. If) the tax is not paid when due, there shall be added as part of the tax interest at the rate of 1 per centum a month from the time when the tax became due until paid. gm by d°“"’”·i ‘ Sec. 604. (a) On and after the expiration of thirty ays after the suaigkiiuiidgifeggd, enactment of this Act there shall be levied, assesse , collected, and '·*‘“\?‘;°~°*"~m d_ paid (in lieu of the tax imposed by section 905 of the Revenue Act .1. ° ‘42'°' '°m°° of 1921) upon all articles commonly or commercially known as jewelry, whether real or imitation; pearls, precious and semiprecious stones, and imitations thereof; articles made of, or ornamented, mounted or fitted with, precious metals or imitations thereof or ivory; watches; clocks; opera glasses; lorgnettes; marine glasses; field lasses; and binoculars; upon an of the above when sold or leasetf by or for a dealer or his estate for consumption or use, a tax _ equivalent to 5 per centum of the price for which so sold or leased.

  • '*““”°‘°'“°‘· (b) The tax imposed by subdivision (a) shall not apply to (1)

surgical instruments, musical instruments, eyeglasses, spectacles, or silver—plated flat tableware, or articles used for religious purposes; (2) articles sold or leased for an amount not in excess of $30; or (3) watches sold or leased for an amount not in excess of $60. ,,§°‘“‘”'“· "”'°°“‘· (c) Eve person selling any of the articles enumerated in this section shalh make returns under oath in duplicate (monthly or quarterly as the Commissioner, with the approval of the Secretary, may prescribe) and pay the taxes imposed in respect to such articles by this section to the collector for the district in which is located the principal place of business. Such returns shall contain such information and be made at such times and in such manner as the Comggyg, with the approval of the Secretary, may by regulations Time ¤f¤·v¤¤¤¤¤· (d) The tax shall, without assessment by the Commissioner or notice from the collector, be due and payable to the collector at the P°'““’ ’°"°““'°· time so fixed for filing the return. If the tax is not paid when due, there shall be slldcled as lpart of this tax interest at the rate of 1 per centum a mont rom the time w en the tax became due until aid. _,§§,‘g§"°*;,§§'““‘,,j',°"{{ Sec. 605. (a) If (1) any person has, rior to January 1, If924, ¤¤l<>~~ made a bona fide contract with a dealer for the sale or lease, after _dgggg:mwmp&v·¤ the tax takes_ eifect, of any article in respect of which a tux is im. pemuma by comm. posed by section 600, or by this subdivision, and in respect of which °dV¤¤.e¤.p.2¤¤.¤me¤d- no corresponding tax was imposed by section 900 of the Revenue Act ` of 1921, and (2) such contract does not permit the adding to the amount to be paid thereunder, of the whole of the tax impbsed by section 600 of this Act or by this subdivision; then the vendee or lessee shall, in lieu of the vendor or lessor, pay so much of the tax To atm tm dealer imposed by section 600 of this Act or by this subdivision as is not So mmed_ permitted to be added to the contract price, If a contract of the character above described was made with any person other than a H Mum mx gmm dealer, no tax shall be collected under this Act. than ;,.,,Si,,imp.,S...S_ (b) If (1) any person has, prior to January 1 1924 made a bona fide contract with any other person for the sale, or le’ase after the tax takes eifect, of any article in respect of which a tax is imposed gytsectxon 600 of this Act, and in respect of which a corresponding u greater tax was imposed by section 900 of the Revenue Act of