PUBLIC LAWS-CH. 367-JULY 26, 1939
DEFINITIONS
Definitions.
SEC. 43. For the purpose of this title and unless otherwise required
by the context-
erson."
(1) The word "person" means an individual, a trust or estate, a
partnership, or a corporation.
"Taxpayer."
(2) The word "taxpayer" means any person subject to a tax
imposed by this title.
(3) The word "partnership" includes a syndicate, group, pool, joint
adventure, or other unincorporated organization, through or by
means of which any business, financial operation, or venture is car-
ried on, and which is not, within the meaning of this title, a trust
Partner.
or estate or a corporation; and the word "partner" includes a member
in such a syndicate, group, pool, joint adventure, or organization.
"Corporation."
(4) The word "corporation" includes associations, joint-stock com-
panies, and insurance companies.
"Domestic. "
(5) The word "domestic" when applied to a corporation other than
an association, means created under the law of United States appli-
cable to the District of Columbia; and when applied to an association
or partnership means having the principal office or place of business
within the District of Columbia.
"Foreign."
(6) The word "foreign" when applied to a corporation or partner-
ship means a corporation or partnership which is not domestic.
a"Fiduciarm(7)
The word "fiduciary" means a guardian, trustee, executor,
administrator, receiver, conservator, or any person acting in any fidu-
ciary capacity for any person.
"Individual."
(8) The word "individual" means all natural persons, whether
married or unmarried; and also all trusts, estates, and fiduciaries
acting for other persons; it does not include corporations or partner-
ships acting for or in their own behalf.
"Taxable yer."
(9) The words "taxable year" mean the calendar year or the fiscal
year ending during such calendar year upon the basis of which the
net income is computed under this title. The term "taxable year"
includes, in the case of a return made for a fractional part of a year
under the provisions of this title, the period for which such return is
made.
"Fiscal year."
(10) The words "fiscal year" mean an accounting period of twelve
months and ending on the last day of any month other than
December.
"Paid or ancuru0ed"
(11) The words "paid or incurred" and "paid or accrued" shall be
construed according to the method of accounting upon the basis of
which the net income is computed under this title.
nesrade or busl-
(12) The words "trade or business" include the engaging in or
carrying on of any trade, business, profession, vocation or calling, or
commercial activity in the District of Columbia; and include the
performance of the functions of a public office.
Stock.
(13) The word "stock" includes a share in an association, joint-
stock company, or insurance company.
"Shareholder."
(14) The word "shareholder" includes a member in an association,
joint-stock company, or insurance company.
ted tates.
(15) The words "United States" when used in a geographical sense
include only the States, the Territories of Alaska and Hawaii, and the
District of Columbia.
"Dividend
(16) The word "dividend" means any distribution made by a
corporation out of its earnings or profits to its stockholders or mem-
bers whether such distribution be made in cash, or any other prop-
erty, other than stock of the same class in the corporation. It includes
such portion of the assets of a corporation distributed at the time of
dissolution as are in effect a distribution of earnings.
[53 STAT.
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