176
Recordkeeping.
Penalty. 48 Stat. 336.
PUBLIC LAW 91-106-OCT. 31, 1969
[83 STAT.
day on which this title becomes effective or, if such day is a Sunday, as of the beginning of the following day, and (2) shall pay to the Commissioner the amount specified in subsection (b). (^^^ Each such liceusee shall keep and preserve for the twelve-month period immediately following the effective date of this title the inventories and other records made which form the basis for the information furnished to the Commissioner on the sworn statement required to be filed under this section. (e) For purposes of this section, alcohol, spirits, and beer shall be considered as held by a holder of a retailer's license if title thereto has passed to such holder (whether or not delivery to him has been made) and if title has not at any time been transferred to any person other than such holder. ^jf^ ^ violation of the provisions of subsection (b), (c), or (d) of this section shall be punishable as provided in section 33 of the District ^f Columbia Alcoholic Beverage Control Act (D.C. Code, sec. 25-132). TITLE VI — AMENDMENTS TO THE DISTRICT OF COLUMB I A INCOME A N D F R A N C H I S E T A X ACT O F 1947
61 Stat. 332. BLs'sft"^^^^
68A Stat. 320. 1250 ^^^ ^^°^
?^p^^i 61 Stat! 335!
K^p^^i63 Stat. 130.
SEC. 601. (a) Section 4 of title I of article I of the District of Columbia lucome and Franchise Tax Act of 1947 (D.C. Code, sec. 47-1551c) is amended as follows: (1) Paragraph (1) of such section is amended to read as follows: " (1)(1) The term 'capital asset' means property defined or treated as a capital asset under the Internal Revenue Code of 1954. "(2) For the purpose of computing for any taxable year the tax imposed under this article with respect to sales or other dispositions of property referred to in subparagraph (1), the provisions of the Internal Revenue Code of 1954 relating to the treatment of gains and losses (other than the alternative tax imposed by section 1201 of such Code) shall apply." (^) Paragraph (m) of such section is amended by inserting immediately before the colon preceding the first proviso the following: ", except that in the case of any such distribution any part of which for purposes of the income tax imposed under the Internal Revenue Code of 1954 is deemed to constitute a capital gain, such part shall be deemed to constitute a capital gain for purposes of the tax imposed by this article". (3) Paragraph (aa) of such section is repealed. (b) Title III of such article is amended as follows: (1) Section 2(a) of such title (D.C. Code, sec. 47-1557a) is amended by striking out "other than capital assets" and inserting in. lieu thereof "including capital assets". (2) Paragraph (11) of section 2(b) of such title is repealed. (3) Paragraph (4) of section 3(a) of such title (D.C. Code, sec. 47-1557b) is amended by striking out subparagraph (C) and inserting in lieu thereof the following: " (C) of property not connected with a trade or business, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft, except that in the case of an individual, a loss described in this subparagraph shall be allowed only to the extent that the amount of loss to such individual arising from each casualty, or from each theft, exceeds $100. For purposes of the $100 limitation of subparagraph (C), a husband and wife making a joint return for the taxable year in which the loss is allowed as a deduction shall be treated as one individual. No loss
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