PUBLIC LAWS-CH. 412-SEPT. 20, 1941 53 Stat. 36. 26U. S . C . §104(b). 53 Stat. 7, 864; 54 Stat. 520 . 26 U. S. C. §§13, 14 (b), 15. 53 Stat. 78. 26 U.S. C. 231(b). 53 Stat. 864; 54 Stat. 520. 26U.S.C.§14(c) (1), 15. 53 Stat. 80 . 26U.S.C.§251(c) (1). 53 Stat. 7, 864; 54 Stat. 520. 26U.S.C.§§13,14 (b), 15. 53 Stat. 81. 26 U. S.C. § 261 (a). 15U.S.C.ch.4. 53 Stat. 7, 864: 54 Stat. 520. 26U.S.C.§13, 14 (b), 15. 53 Stat. 81,866. 26 U.S .C. 5 262 (a). 53 Stat. 7, 111; 54 Stat. 520. 26 U. S. C. se 13-15, 600. 53 Stnt. 75: 54 Stat. 518. 26UI.. C. 2 11 (a) (1) (A). 53 Stat. 75 . 26U. .C.i211(a) (2). 53 Stat. 76; 54 Stat. 518. 26 U.S .C. § 211(c). 53 Stat. 78 . 26U. S. C. 1231 (a). (c) SURTAX ON BANKS.- Section 104 (b) of the Internal Revenue Code (relating to certain banks and trust companies) is amended to read as follows: "(b) RATE OF TAx. -Banks shall be subject to tax under section 13 or section 14 (b), and under section 15." (d) SURTAX ON RESIDENT FOREIGN CORPORATIONS. - Section 231 (b) of the Internal Revenue Code (relating to certain foreign corpora- tions) is amended to read as follows: "(b) RESIDENT CORPORATIONS.-A foreign corporation engaged in trade or business within the United States or having an office or place of business therein shall be taxable as provided in section 14 (c) (1) and section 15." (e) SURTAX ON CORPORATIONS ENTrrTED TO THE BENEFITS OF SECTION 251.-Section 251 (c) (1) of the Internal Revenue Code (relating to the tax on corporations entitled to the benefits of section 251} is amended to read as follows: "(1) CORPORATION TAX.-A domestic corporation entitled to the benefits of this section shall be subject to tax under section 13 or section 14 (b), and under section 15." (f) SURTAX ON CHINA TRADE ACT CORPORATIONS. - (1) SURTAx. - Section 261 (a) of the Internal Revenue Code (relat- ing to the tax on China Trade Act corporations) is amended to read as follows: "(a) CORPORATION TAX. - A corporation organized under the China Trade Act, 1922 (42 Stat. 849; U. S . C ., 1934 ed., title 15, ch. 4), shall be subject to tax under section 13 or section 14 (b), and under section 15." (2) CREDIT OF CHINA TRADE ACT CORPORATIONS. - Section 262 (a) of the Internal Revenue Code (relating to credit against net income of China Trade Act corporations) is amended by striking out "sec- tions 13, 14, and 600" and inserting in lieu thereof "sections 13, 14, 15, and 600"; and by striking out "section 13 or 14" wherever occur- ring therein and inserting in lieu thereof "section 13, 14, or 15". SEC. 105. TAX ON NONRESIDENT ALIEN INDIVIDUALS. (a) TAX IN GENERAL.- Section 211 (a) (1) (A) of the Internal Revenue Code (relating to tax on nonresident alien individuals not engaged in trade or business within the United States and not having an office or place of business therein) is amended by striking out "15 per centum and inserting in lieu thereof "271⁄22 per centum". (b) AGGREGATE RECEIPTS MORE THAN $23,000.- Section 211 (a) (2) of the Internal Revenue Code is amended to read as follows: "(2) AGGREGATE MORE THAN $23,000. - The tax imposed by paragraph (1) shall not apply to any individual if the aggregate amount received during the taxable year from the sources therein specified is more than $23,000." (c) TAX WHERE GROSS INCOME OF MORE THAN $ 2 3.000. - Section 211 (c) of the Internal Revenue Code (relating to tax on certain nonresident alien individuals) is amended by striking out "$24,000" wherever occurring therein and inserting in lieu thereof "$23,000"; and by striking out "15 per centum" and inserting in lieu thereof c271/ per centum". SEC. 106 . TAX ON FOREIGN CORPORATIONS. Section 231 (a) of the Internal Revenue Code (relating to tax on nonresident foreign corporations) is amended by striking out "15 per centum" and inserting in lieu thereof "27/2 per centum". 694 [55 STAT.
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