Page:United States Statutes at Large Volume 38 Part 1.djvu/194

SIXTY-THIRD CONGRESS. Sess. I. Ch. 16. 1913. 175 thirty da prior to the date upon which its annual return shall be unI},'&’f" “*·°°¤· filed. Alla corporations, joint—stock complanies or associations, and Time mi- macrmg insurance companies subject to the tax erein imposed, computing "°°“'””" taxes upon the income of the calendar year, shall, on or before the first day of March, nineteen hundred and fourteen, and the first da; of March in each year thereafter, and all corporations, joint—stoc companies or associations, and insurance companies, computing taxes upon the income of a fiscal 5ear which it may designate in the manner hereinbefore provided, sh render a like return within sixty days after the close of its said fiscal year, and within sixty days _ after the close of its Escal year in each year thereafter, or in the case a°1;‘§l°"° °°“’°"' of a corporation, joint-stock company or association, or insurance comlpany, orgagiized or existing gmder the laws gg a fci:·eigr;1cci1}ntrgi int e acew ere its rinci usinessis ocat wit int e nit States,Pin such form ag the léommissioner of Internal Revenue, with the approval of the Secretary of the Treasury, shall rescribe, shall render a true and accurate return under oath or affirmation of its president, vice president, or other principal officer, and its treasurer or assistant treasurer, to the collector of mternal revenue for the dis- Comm 0, ummm trict in which it has its princi al place of business, setf forth (first) Carvalthe total amount of its paidljup capital stock outstanl§ng, or if no capital stock, its capital employed business, at the close of the year; (second) the total amount of its bonded and other mdebted- I“"°"*·°d"°"· ness agdthp close of dthe year£;O(thi;lc§) the gross agipfunt of itscdinconiie, °‘°"*"°°"”°· receiv uring su ear m sources, an o amz un er the laws of a foreign cgimtry the gross amount of its ihlgzome received within the ear from business transacted and capital invested within the Unitedy States; (fourth) the total amoimt of all its ordinary R‘“"“°¢°’P°'“°'· and necessary e enses paid out of earnings in the maintenance and operation of thdqlnusiness and properties of such corporation, jointstock company or association, or insurance company within the year, stating separately all rentals or other payments reqfuired to be made as a congitionl to gis lciontinped pse or possessionbo property, and organize un er e ws o a o country the amount so pai in the maintenance and operation oi its business within the United States; (fifth) the total amonmt of all losses actually sustained during ¢1.l{E”°°°”°"l°°'°°'°' the year and not compensated by insurance or otherwise, stating I separately any amounts allowed for depreciation of property and in ¤a§j"°'°”°° °°""’°' case of insurance com anies the net ad ition, if any, required by law to be made within tlie year to reserve funds and the sums other than dividends paid within the year on policy and annuity contracts: Mum, me mm Prcmkled further, That mutual fire insurance com(panies requiring ms. their members to make premium deposits to provide for losses an expenses shall not return as income an portion of the premium deposits returned to their policyholders, but shall return as taxable income all income received by them from all other sources plus such portions of the remium deposits as are retained by the companies or purposes other than the payment of losses and expenses and num mm inreinsurance reserves: Provided further, That mutual marine insurance ¤¤¤¤*>°°°¤P¤¤*¤¤· companies shall include in their return of gross income gross premiums collected and received by them less amounts paid for reinsurance, but shall be entitled to include in deductions from gross income amounts rialpaid todpolicyholdersdon account}; of premiugs previonlisly paid by t em, an mterest ai u n su amounts etween the ascertainment thereof and tliis payxiignt thereof and life insurance companies shall not include as income in any year such ortion of any actual premium received from any indiv1dual_policgfholder as shall have een paid back or credited to such individual policyholder, or treate as an abatement of premium of such individual policy- Fomig, ,,,,,p°,,__ holder, within such year; and in case of a corporation, jo1nt·stock ¤¤¤=+- company or association, or insurance company, organized under the