INDEX Page Revenue Act of 1940----------------- 516 Aliens, nonresident, tax on ---------- 518 Corporation tax -------------------- 517 Defense tax--------------------- 520, 974 Admissions -------------------- 523 Automobiles, credits on tax on------ 526 Capital stock-------------------- 521 Cigarettes------------------------ 524 Distilled spirits ------------------- 524 Estate ----------------------- 521 Excess-profits ------------------- - 521 Excises-------------------------- 522 Fermented malt liquors ----------- 525 Gift -------------------------- 521 Income------------------------ 520 Personal holding companies--------- 521 Playing cards -------------------- 526 Transfers to avoid income tax ------ 522 Wines, liqueurs, etc--------------- 525 Witholding of tax at source, rates -- 520 Income tax, returns------------------ 519 Liberty Bond Act, Second, amendment- 526 National defense, issuance of additional obligations to provide funds for, authorized---------------------- 52C Personal exemption from taxation- ---- 519 Public Salary Tax Act of 1939, amend- ment--------------------------- 527 Surtax on individuals---------------- 51f Taxable years to which applicable -- - - 52( Treaty obligations, provisions of act not applicable if contrary to---------- 52( Withholdingtof tax at source--------- 51! Revenue Act of 1940, Second --------- 97O Abatement, credit, and refund of taxes- 10 Amortization deduction -------------- 991 Corporation income tax-------------- 97' Defense tax --------------------- 97, Emergency facilities, amortization of - - 99! Excess-profits tax- Declared value-------------------- 00: Publicity of returns--------------- 100 Excess Profits Tax Act of 1940--- ---- 97 Assets, admissible and inadmissible- 98 Average base period net income - - - 99 Borrowed capital, determination of- 99 Capital, adjustment of abnormalities in, by Commissioner----------- 98 Consolidated returns--------------- 98 Definitions---------------- 989, 991, 99 Equity invested capital in special cases- 9E Excess profits credit- Allowance ------------------- 97 Based on income---------------- 92 Based on invested capital-------- 9t Excess profits net income ----------- 9 Exempt corporations ------------ 9 Foreign corporations, exclusion from certain provision ------------ 9 Revenue Act of 1940, Second-Continued. Page Excess Profits Tax Act of 1940-Con. Highest bracket amount, computation of------------------------ 995 Imposition of tax------------------ 975 Income, abnormalities in, in taxable period .---------------------- 986 Income and capital, adjustment of abnormalities in, by Commis- sioner ----------------------- 986 Income credit, election of----------- 992 Invested capital- Average ------------------------ 982 Borrowed --------------------- 984 Daily ------------------------ 982 Definition of------------------- 982 Determination of---------------- 987 Equity ---------------------- 982 Laws applicable------------------- 989 Merchant Marine Act, 1936, corpora- tions completing contracts under- 988 Net capital changes---------------- 994 Personal service corporations------ - 987 Stock, property paid in for, determina- tion of ------------------- 995 Strategic metals, corporations en- gaged in mining of ----------- 990 Income tax- 7 Amortization deduction- Allowance of ----------------- 998 0 Computation of------------------998 Constructive dividends, statute of 0 limitations in case of ---------- 1007 9 Corporations, earnings and profits of- 1004 Declared value excess-profits tax---- 1008 8 Personal service corporations, tax of 3 shareholders of--------------- 1005 I Applicability of provisions-------- 1005 4 Corporation income taked to share- 9 holders--------------------- 1006 Definitions-------------------- 1005 8 Foreign corporations------------- 1007 8 Credit of, of 'tax as share- 5 holders------------------ 1007 5 Nonresident alien individuals ---- 1007 2 Credit of, of tax as shareholder-- 1007 5 Shareholder's tax paid by corpora- tion----------------------- 1007 36 Returns, publicity of--------------- 1008 39 Merchant Marine Act, 1936, suspension 14 of profit-limiting provisions of, as 36 to certain subcontracts -------- 1003 Miscellaneous taxes, limitation on 79 assessment and collection-------- 1008 80 National Service Life Insurance Act of 81 1940 ------------------------- 1008 r6 Administrative expenses ---------- 1012 88 Administrator of Veterans' Affairs, authority-------------------- 1012 94 Appropriation authorized---------- 1011
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