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73d CONGRESS . SESS . II. CH. 157 . APR IL 21, 1934 . Returns and pay -
(c) Every person ginning any cotton subject to tax under this mentoftax. Act (whether as agent of the owner or otherwise) and every other person liable for tax under this Act shall make monthly returns under oath in duplicate and pay the taxes imposed by this Act to the collector for the district in which the ginning is done, or to such Information re- other person as such collector may direct . Such returns shall con- q uired . tain such information and be made at such times and in such manner as the Commissioner, with the approval of the Secretary of the Treasury, may by regulations prescribe . The tax shall, without assessment by the Commissioner or notice from the collector, be due and payable to the collector at the time so fixed for filing the return . Penalty for tax de- If the tax is not paid when due, there shall be added as part of the lin que ncy .
tax interest at the rate of 1 per centum a month from the time when the tax became due until paid . Tax inapplicable t• cotton harvested dur-
(d) When the Secretary of Agriculture does not proclaim an ing year no allotment allotment of cotton for a crop year as provided in section 3 of this pr oclaime d . Act, the tax shall not apply with respect to cotton harvested during such crop year but shall apply to cotton harvested during the next crop year for which, with the approval of the President, the Secre- tar makes an allotment un der such sect ion . Tax exe mptions .
(e) No tax shall be imposed under this Act with respect to- (1) Cotton harvested by any publicly owned experimental station or agricultural laboratory . (2) An amount of cotton harvested in any crop year from each farm equal to its allotment . (3) Cotton harvested prior to the crop year 1934-1935 . (4) Cotton having a staple of one and one half inches in length or longer . Tax payme nt post- poned on cotton stored
(f) The tax shall not be collected upon the ginning of cotton which by producer. i s to be stored by the producer thereof either on the farm or at such other place as may be permitted by regulations prescribed by the Secretary of Agriculture and the Secretary of the Treasury . In Required when bale such cases, the payment of the tax shall be postponed, but shall be tags secured . paid at the time when bale tags are secured for such cotton . Bale tags may be secured for any of such cotton at any time after ginning (1) upon the payment to such person as the Commissioner may direct, of the amount of tax which would have bee n payable at the time of ginning, or (2) upon the surrender of certificates of exemption cover- ing an amount of cotton not less than the amount of such cotton . Lien until tax paid . Until bale tags are secured for such cotton, such cotton shall be sub- ject to a lien in favor of the United States for the amount of the tax payable with respect to the ginning of such cotton . The right to postponement of the ~ayment of the tax under this subsection shall be established in accordance with such regulations as the Secretary of A~Ticulture and the Secretary of the Treasury may prescribe . pr Re bla et diona to be The Commissioner, with the approval of the Secretary of the Treas- ury, shall prescribe regulations providing for stamping the containers of such cotton so as to indicate the time of ginning and the amount of tax payable with respect thereto . Exemption rights to
(g) The right to exemption under paragraph (2) of subsection be evid enced b y cer- tifi cate . (e) shall be evidenced by a certificate of exemption issued as herein provided, which certificate of exemption shall be conclusive proof of the right to such exemption . Apportionment. APPORT IONMENT Quantity of tax-ex- SEc. 5. (a) When an allotment is made, in order to prevent unfair empt co tton ba sed on rates of average produc- competition and unfair trade practices in marketing cotton in the tion .
chann els of inter state and f oreign comme rce, the Se cretar y of
