1126 SIXTY-FIFTH CONGRESS. Sess. III. Ch. 18. 1919, Erma MX- The taxes imposed b this section shall be collected b which- M°m°d °‘°°u°°°°°° evgiibf the followingmethods the Commissioner may deem ezgpedient; (1) by stamp aflixed to such article by the vendor, the cost of which shall be reimbursed to the vendor by the purchaser; or (2) by pay- ment to the vendor by the urchaser at the time of the sale, the taxes so collected being returned) and paid to the United States by such vendor in the same manner as provided in section 502. sr¤cm·w¤"-s TITLE X.-SPECIAL TAXES. raxmuooorrormor. Sec. 1000. (a) That on and after July 1, 1918, in lieu of the tax v°1'39’p°m' imposed by the first subdivision of section 407 of the Revenue Act of 1916- Domestic oorporo- (1) Every domestic corporation shall pay annually a special excise ¤b°ii'¤pm1mek. tax with respect to carrying on or doing usiness, equivalent to $1 for each $1,000 of so much of the fair average value of its capital stock for the preceding year endiplg Jime 30 as is in excess of $5,000. In peistimliaqpg the yagug of capit stock the surplus and undivided ro ts s a e mc u e ; rmiguooqpomtioqs. P (2) Every foreign corporation shall play annually a special excise Ugium lsliiili? m tax with respect to carrying on or doingl usiness in the United States equivalent to $1 for each $1,000 of the average amount of capital em lo ed in the transaction of its business in the United States duringpthii preceding year ending June thirtieth.
_ ’°“°"°“ (b) In computing the tax in the case of insurance companies such
deposits and reserve funds as they are required by law or contract to maintain or hold for the jipotection of or payment to or apportion- _ ment among policyholders s all not be included. E‘°""’“°““‘ (c) The taxes imposed by this section shall not appl in any year 1,,,,,,, wm to any corporation which was not engaged in business (br in the case of a foreign corporation not engaged in usiness in the United States) ,,,,},‘,§§s_ ““‘“'°“°° during the preceding year en ing Jime 30, nor to any corporation Bam mu enupnepated piaslection 231. The taxes imdposegl by this pection shag · a o mu u insurance com ames, an m e case o every suc diiiiigstic company the tax shall)be equivalent to $1 for each $1,000 of the excess over $5,000 of the sum of its surplus or contingent reserves maintained for the general use of the business and any reserves the net additions to which are included in net income under the provisions of Title II, as of the close of the preceding accounting period used by such company for purposes of makin its income tax ,,’?,§'f‘_,;g compmm return: Prmyi ed, That in the case of a foreign mutualg insurance company the tax shall be equivalent to $1 for each $1,000 of the same pro ortion of the sum of such smphuis and reserves, which the reserve und upon business transacted wit the United States is of the total reserve upon all business transacted, as of the close of the preceding accounting period used by such company for purposes of making its income tax return. §§’,$,‘f','§?}’,,‘§,§{‘°‘ (d) Section 257 shall apply to all returns Bled with the Commis- _ _ sioner for purposes of the tax imposed by this section. _ ,,t3°s‘g”“t°d b“s‘“°S’* Sec. 1001. hat on and after January 1, 1919, there shall be levied, Bmkm collected, and paid annually the following special taxesj— _ _ B,,s,,,,,,,g,m,,,,d_ (1)_Brokers shall pay $50. Every lr§rson whose business 1t is to negotiate purchases or sales of stoc , bonds, exchange, bulhon, coined money, bank notes, promissoigenotes, other secu.r1t1es, prod- E‘“”“g° “·‘°mb°”‘ uce or merchandise, for others, shall regarded as a broker. If 8 broker is a member of a stock exchange, or if he is a member of any produce exchange, board of trade, or similar organization, where produce or merchandise is sold, he shall pay an additional amount as ollows: If the average value, during the preceding year ending June 30, of a seat or membership in such exchange or organization
