65 STAT.]
PUBLIC LAW 183—OCT. 20, 1951
473
" (i) DEFINITION OF CALENDAR M O N T H. — For the purposes of this section, a calendar month only part of which falls within a taxable year (1) shall be disregarded if less than 15 days of such month are included in such taxable year, and (2) shall be included as a calendar month within the taxable year if more than 14 days of such month fall within the taxable year. " (j) TAXABLE YEARS OF INDIVIDUALS BEGINNING I N 195S AND ENDING
IN 1954.—In the case of a taxable year of a taxpayer, other than a corporation, beginning before January 1, 1954, and ending after December 31, 1953, the tax imposed by sections 11 and 12, section 400, or section 421(a)(2), shall be an amount equal to the sum of— ^f Stat. 5; 6 Stat. 4 "(1) that portion of a tentative tax, computed under the pro- 26 U.S.C. § n, 4:JI § visions of sections 11 and 12, section 400, or section 421(a)(2), ^^liSe,pp.459,m. applicable to years beginning on January 1, 1953, which the num- Post,'p. m. ' ber of calendar months in such taxable year prior to January 1, 1954, bears to the total number of calendar months in such taxable year, plus " (2) that portion of a tentative tax, computed under the provisions of sections 11 and 12, section 400, or section 421(a)(2), applicable to years beginning on January 1, 1954, as if such provisions were applicable to such taxable year, which the number of calendar months in such taxable year after December 31, 1953, bears to the total number of calendar months in such taxable year, " (k) TAXABLE YEARS OF CORPORATIONS BEGINNING BEFORE APRIL 1, 1954, AND ENDING AFTER MARCH 31, 1954.—In the case of a taxable
year of a corporation beginning before April 1, 1954, and ending after March 31, 1954, the tax imposed by sections 13 and 15, or section 421 (a)(1), shall be an amount equal to the sum of— (1) that portion of a tentative tax, computed under the provisions of sections 13 and 15, or section 421(a)(1), applicable to years beginning on January 1, 1953, which the number of days in such taxable year prior to April 1, 1954, bears to the total number of days in such taxable year, plus "(2) that portion of a tentative tax, computed under the provisions of sections 13 and 15, or section 421(a)(1), applicable to years beginning on April 1, 1954, as if such provisions were applicable to such taxable year, which the number of days in such taxable year after March 31, 1954, bears to the total number of days in such taxable year." (b) COMPUTATION OF EXCESS PROFITS TAX.—Subsection (b) of section 430 (relating to computation of excess profits tax in the case of certain taxable years) is hereby amended to read as follows: " (b) CERTAIN TAXABLE YEARS BEGINNING BEFORE 1951.— "(1) TAXABLE YEARS ENDING BEFORE APRIL 1, 1951.—In the case of a taxable year beginning before July 1, 1950, and ending after June 30, 1950, and before April 1, 1951, the tax imposed by subsection (a) shall be an amount equal to that portion of a tentative tax, computed under the provisions of subsection (a) applicable to taxable years ending on December 31, 1950, which the number of days in such taxable year after June 30, 1950, bears to the total number of days in such taxable year. " (2) TAXABLE YEARS ENDING AFTER MARCH 31, 1951.—In the case of a taxable year (other than a taxable year beginning on January 1, 1951, and ending on December 31, 1951) beginning before
PM/'P^618^' *^'
^ U. B.C.^T^. ^**| ^^^ §430. 26
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