Page:United States Statutes at Large Volume 42 Part 1.djvu/255

SIXTY-SEVENTH CONGRESS. Sess. I. Ch. 136. 1921. 227 f CH}AP. 136.-An Act To reduce and equalize taxation, to provide revenue, and N°YI•jIm*1?,°¥8g:i%%9m- OT ot €I' PUYPOSGS. Be it enacted by the Senate and House of Representatives of the United · States of America in Congress assembled, R°v°`°°°“"°t °mm° TITLE I.——GENERAL DEFINITIONS. °"“°"” d°°'““°““· SECTION 1. That this Act may be cited as the "Revenue Act of Tm °'*°°‘ 1921.’ Sec. 2. That when used in this Act- $1) Theltergln LSPGTSODN includes partnerships and corporations, as "Pm°"·” we as in 1v1 u s; H { N (2) The germ " corporation ’{ includes associations, joint—stock com- C°rp°m‘°°' pames, an msurance companies; _ _ “ _ H (3%] The term “dOI:1l€St1C" whendappliedéo a gogporation or part- D°m°“‘°· ners ip means create or 0 anize in the United States· _ (4) The term "foreign" Ivrien applied to a corporatioii or partner- "F°'°‘*‘?*“·” ship means created or orgamzed outside the United States; _; _ H (5) The term "United States" when used in a geograghical sense U‘“°°d S“‘“’“· irfxcludes onlyftge1States, the Territories of Alaska and awaii, and t ie District 0 0 umbia; ,, ,, (6) The term "Secretary" means the Secretary of the Treasury· ,,S°°miry' ,, R (7) The term “Commissioner" means the Commissioner of Internal C {mm' evenue· (8) This term "co]lector" means collector of internal revenue; ,;°°u"°‘°"'” _ (3% Thi term " taxdplayeslg irzchtides any person, trust or estate sub- T“p“Y°" jec oa ax1mpose__y s c· _ n _ (10) The term “m1l1tary or naval forces of the United States" m,c§§H‘,E’}"t;,§"U‘},’}Z,,‘{,l includes the Marine Corp? the Coast Guard, the Army Nurse Corps S°°'*°°*·" Female, and the Navy urse Corps,_Female, but this shall not e deemed to exclude other units otherwise included withm such terms; and (11) The term "Government contract" means (a) a contract mg‘?Y°m‘”°"° °°“' made with the United States, or with any deipartment, bureau, oirlicer, Orlgggcygtgxgtam commission, board, or agency, under the mted Statcs and acting in its behalf, or with any agency controlled by any of the above if the contract is for the benefit of the United States, or (b) a subcontract S“b°°""“°‘“‘ made with a contractor performing such a contract if the products or services to be furnished under the subcontract are for the benefit _ of the United States. The term “Government contract or contracts 6{',§‘}°,}’_$,§‘§`?§2,’§,¥{,';‘§ made between April 6, 1917, and Novexabepl 11, 15118% botg dates liéijggquemy ml inclusive" when applied to a contract o the kin re erre to in asm. X clause (a) of this subdivision, includes all such contracts which, although entered into during such period, were originally) not enforceable, but which have been or may become enforceable y reason t 856 of subsequent validation in pursuance of law. P°"’°° ' TITLE II.—INCOME TAX. m°°" “x' PART I.*·GENERAL Paovrsrous. $§f°4§f§{,Y‘§Y,'ETQ°}"(§6:2_ nnrrsrrroxs. Sec. 200. That when used in this title—— _ (1) The term " taxable year" means the calendar year, or the Mmm °‘°°'m· fiscal year ending during such calendar year, upon the basis of which “T¤¤¤b¤¤ y¤¤r·" the net income is computed under section 212 or section 232. The __ term "fiscal year" means an accounting period of twelve months "’""°°'Y°‘“· _ ending on the last da of any month other than December. The _ first taxable year, to lie called the taxable year 1921, shall be the *""""‘“°’“"·