Voglio sapere a riguardo di…

1180

FEDERAL REGISTER, August 8, 1936

FEDERALWRE6ISTER

laws, the follow ing regulations are hereby prescribed with respect to the surtax imposed on corporations by section 14 o f the A ct and the credits o f corporations provided by sections 26 and 27 of the Act, and w ith respect to the provi sions o f section 115 of the Act relative to distributions by corporations:
PART i
1934 ciF

General
A rticle 1. Scope of regulations. Section 14 o f the Reve nue A ct o f 1936 imposes a surtax upon the net income of every corporation not expressly exempt from such tax which is in addition to the normal tax imposed by section 13 of the Act. These regulations are lim ited to a consideration The Administrative Committee consists of the Archivist or Acting of factors involved in the computation of the surtax.
Archivist, an officer of the Department of Justice designated by the Attorney General, and the Public Printer or Acting Public Printer.
A rt . 2. General arrangement. These regulations are di vided into five parts. Part I is general. Part n relates The daily issue of the F ederal R egister will be furnished by mail to subscribers, free of postage, for $1 per month or $10 per year;
to the computation o f the surtax on net income o f corpora single copies 5 cents; payable in advance. Rem it by money order tions imposed by section 14 o f the Act. I t includes articles payable to Superintendent of Documents, Government Printing 14-1 to 14-5, both inclusive. P art m relates to certain Office, Washington, D. C.
credits allowed to corporations in computing the surtax.
Correspondence concerning the publication of the F ederal This part includes articles 26-1 to 26-3, both inclusive.
R egister should be addressed to the Director, Division of the Part IV relates to the credits allowed corporations under F ederal R egister , The National Archives, Washington, D. C.
section 27 of the A ct fo r dividends paid. It includes ar ticles 27-1 to 27-8, both inclusive. P art V relates to the provisions of section 115 of the A ct dealing w ith distribu tions by corporations. It includes articles 115-1 to 115-4, TABLE OF CONTENTS
both inclusive.
Department of Agriculture:
In each o f Parts I I to V, inclusive, the particular section Agricultural Adjustm ent Administration:
o f the law is quoted in fu ll, follow ed by the articles of the Agricultural conservation program, 1936:
Page regulations appertaining thereto. The articles have been Southern region, Bulletin No. 1, Revised, Sup plement r ______________________________________
1190 given key numbers corresponding to the numbers of the sec tions o f the A ct to which they relate. For example, articles Department of Commerce:
Bureau of Air Commerce:
14-1 to 14-5 relate to section 14 o f the Act.
Amendment to air commerce regulations_____________ 1190
A rt. 3. Definitions. As used in these regulations, the Bureau of Fisheries:
Published by the Division, Archives, pursuant to the Register Act, approved July ulations prescribed by the approval of the President.

of the F ederal R egister , The National authority contained in the Federal 26, 1935 49 Stat. L. 500, under reg Administrative Committee, w ith the
Amendments to Alaska fishery regulations___________
1190
Federal Trade Commission:
Order appointing examiner, etc., in the matter of:
Atlantic Coast Oil Company of New York, In c______
1191
1191
Schear & Schrader______________________________________
Zellers Laboratories_____________________________________ 1190
Interstate Commerce Commission:
Applications for relief from long-and-short-haul provi sion of Interstate Commerce Act:
Coal from Illinois, Indiana, and Kentucky to Iowa__1198
Crude rubber from North Atlantic ports______________ 1198
Gasoline from Omaha, Nebr., to Iow a points_________
1199
1199
Tobacco from and to the South_______________________
Notice of hearings, applications for authority to operate as carriers:
Barwood, A rth ur C ______________________________________
1198
Combs, John B __________________________________________ 1196
Daughenbaugh, Raymond A ________
1194
Days Motor Lines, In c___________________________________ 1193
Dixie Ohio Express Co__________________________________
1195
Geipe, J. Norman, In c__________________________________
1197
Hahn, H. J___________________________________________ 1194,1195
Hebert, Albert J_________________________________________ 1198
K aplan Trucking Company____________________________
1192
Lenker, Earl_____________________________________________
1193
Sproul, James A ___________________________ ________ 1191,1192
President of the United States:
Executive Orders:
Designating the Vice Chairm an o f the Board of Governors of the Federal Reserve System__________
1179
Revocation of Paragraph 2 Kb, Section V, Sched ule A, of the Civil Service Rules__________ A________
1179
Securities and Exchange Commission:
Order fixing time and place of hearing in the m atter of:
Petersen Engine Company, In c____________
1199
Order term inating proceeding in the matter of:
Booth, John P ___________________________________________ 1199
Suspension order, etc., in the matter of:
Barrett, Andrew J_______________________________________
1199
Penn Petroleum Corporation_____________
1200
Treasury Departm ent:
Bureau of Customs:
Countervailing duties, Germ an products____ _________
1179
Bureau of Internal Revenue:
Income tax regulations relating to surtax on undis tributed profits of corporations, credits o f corpo rations, and distributions by corporations_________
1179

term
a Act means the Revenue A ct o f 1936 Public, No. 740, 74th Congress, second session, approved June 22, 1936, 9 p. m .
b Net income means the gross income computed under section 22 o f the A ct less the deductions allowed by section 23
of the Act.
c Adjusted net income means the net income minus the sum of 1 the normal tax imposed by section 13 o f the Act;
and 2 the credit provided in section 26 a of the Act, re lating to interest on obligations o f the United States and its instrumentalities. See Part III, article 26-1 o f these regulations.
In the case of a holding company affiliate, as defined in section 2 o f the Banking A ct o f 1933, the amount to be deducted in determining adjusted net income includes also the credit allowed under section 26 d o f the Act. In the case o f a national m ortgage association created under T itle n i o f the National Housing A ct the amount to be deducted also includes the amount allowed as a credit under section 26 e o f the Act.
d Undistributed net income means the adjusted net in come minus the sum of 1 the dividends paid credit provided in section 27 of the A ct articles 27-1 to 27-8, inclusive, of these regulations ;
and 2 the credit provided in section 26 c o f the Act relat ing to contracts restricting the payment o f dividends. See article 26-3 o f these regulations.
e Surtax, unless otherwise indicated, means the surtax on the n et income o f corporations imposed by section 14 of the Act.
PART I I

Surtax on Undistributed Profits Section 14 o f the A ct provides:
S ec . 14. Surtax on Undistributed Profits.