472
Ante, pp. 469, 470. Post, p. 487. Ante, pp. 466, 468. Post, p. 518. 64 Stat. 1216. 26 U.S.C. §26.
PUBLIC LAW 183—OCT. 20, 1951
64 Stat. 948. 26 U.S.C. § 421 (b) (2).
STAT.
" (3) that portion of a tentative tax consisting of— " (A) a tentative normal tax of 30 per centum of the normal-tax net income, plus "^B) a tentative surtax of 20 per centum of the surtax net income in excess of $26,000, which the number of days in such taxable year after March 31, 1951, bears to the total number of days in such taxable year. I n computing for the purposes of paragraph (2) the normal-tax net income and the corporation surtax net income, the credits provided in section 26 applicable to taxable years beginning on July 1, 1950, shall be allowed in the manner and to the extent provided in sections 13 and 15 applicable to years beginning on such date, except that such credits shall be applied without regard to the amendments made to section 26 by title II of the Excess Profits Tax Act of 1950. I n computing for the purposes of paragraph (3) the normal-tax net income and the corporation surtax net income, the credits provided in section 26 applicable to taxable years beginning on April 1, 1951, shall be allowed in the manner and to the extent provided in sections 13 and 15 applicable to years beginning on such date. "(g) JUNE
53 Stat. 5; 64 Stat. 948 26 U.S.C. §§ 11, 421 (a)(2). Ante, pp. 459, 461. Post, p. 480.
[65
CERTAIN TAXABLE YEARS OF CORPORATIONS BEGINNING AFTER 30, 1950, AND BEFORE A P R I L 1, 1951.—In the case of a taxable
year (other than one beginning on January 1, 1951, and ending on December 31, 1951) of a corporation beginning after June 30, 1950, and before April 1, 1951, and ending after March 31, 1951, the tax imposed by sections 13 and 15 shall be an amount equal to the sum of— "(1) that portion of a tentative tax, computed under the provisions of sections 13 and 15 applicable to such taxable year, which the number of days in such taxable year prior to April 1, 1951, bears to the total number of days in such taxable year, plus "(2) that portion of a tentative tax, computed under the provisions of sections 13 and 15 applicable to years beginning on April 1, 1951, as if such provisions were applicable to such taxable year, which the number of days in such taxable year after March 31, 1951, bears to the total number of days in such taxable year. " (h) CERTAIN TAXABLE YEARS OF iNDivmuALs BEGINNING BEFORE NOVEMBER 1, 1951, AND ENDING AFTER OCTOBER 31, 1951.—In the case of a taxable year (other than one beginning on January 1, 1951, and ending on December 31, 1951) of a taxpayer, other than a corporation, beginning before November 1, 1951, and ending after October 31, 1951, the tax imposed by sections 11 and 12, section 400, or section 421 (a)(2), shall be an amount equal to the sum of— "(1) that portion of a tentative tax, computed under the provisions of sections 11 and 12, section 400, or section 421(a)(2), applicable to such year, which the number of calendar months in such taxable year prior to November 1, 1951, bears to the total number of calendar months in such taxable year, plus "(2) that portion of a tentative tax, computed under the provisions of sections 11 and 12, section 400, or section 421 (-a)(2), applicable to years beginning on November 1, 1951, as if such provisions (other than the provisions relating to head of household) were applicable to such taxable year, which the number of calendar months in such taxable year after October 31, 1951, bears to the total number of calendar months in such taxable year. This subsection shall not apply in the case of a trust described in section 421(b)(2) if the taxable year of such trust began before January 1, 1951.
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