Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-10-17

| i'kt VI iINluR anu IlahIHb Tttul ur
upon the basis OF IFS own fiscal year
ms IL accorded TO corporations under
this title. II fiscal year ends dur
ing 1916 or subsequent calendar year
for which there In a rate OF tax diff
/ ferent from the rate for the preceding
calendar year, then % the rate OF
such preceding calendar year shall
| apply TO an amount OF each partners
share OF such partnership profits equal
TO the proportion which the part OF
such fiscal year falling within such
calendar year bears to the fun fiscal
year and ca the rate for the calendar
year during wrich such fiscal year
ends shall apply TO the remainder.
(2) Subdivision (d) OF section s OF
such act OF September S, 1916, is
hereby repealed.
Section 1905. % That subdivisions
(b), (c), (D, and go OF section . OF
such act OF September s, 1916, are
hereby amended to read as follows:
zoo All persons, corporations, part
nerships, associations. and insurance
companies. In whatever capacity act
ing. including lessees or mortgagors
OF real or peysonal property trustees
acting in any trust capacity, execu-
tors. administrators, receivers, con
scrvators, employers, and all officers
having the control. receipt. custody
dispos.l. or payment of interest, rent
salaries, wages, premiums, annuities
compensation. remuneration. emolu-
uients. or other fixed or determine BILE
annual or periodical gains profits. and
income OF any nonresident alien indi-
viduai other than income derived
from dividends on capital stock. or
from the net earnings Of corpora
ton. joint-stocS company or associa-
tion, or insurance company which is
taxable upon its net income as pro-
vided In this title. are hereby author
lied and required 10 deduct and with
hold from such annual or periodical
gains. profits. and income such sum as
Will be sufficient to pay the normal
tax imposed thereon by this title. and
shall make return thereof on or be-
fore March ] OF each year and, on
or before the time fixed by law for
the payment of the tax, shall pay the
amount Withheld to the officer OF the
United States government authorized
to receive the same. and they are
each hereby made personally liable
for such tax. and they are each hereby
indemnified against every person, cor
poraticn. partnership, association. or
insurance company, or demand what
soever FOR all payments which they
shall make in pursuance and by virtue
OF this title.
"(c) The amount of the normal tax
hereinbefore impos sed shall also be de-
Quoted and withheld from fixed or
determinable annual or periodical
gains. profits and income derived from
interest upon bonds and mortgages. or
oeeds Of trust or other similar obliga-
tions Of corporations. joint stock
companies Gf such bonds. mortgages,
or other obligations contain a contract
or provision by which the obligor
agrees 10 pay any portion OF the tax
Imposed 10y this title upon the obligee
or TO reimburse the obligee for any
portion Of the tax or to pay the inter
est without deduction tor any tax
which the obligor may be required or
permitted 10 pay thereon or 10 retain
therefrom under any law of the
United States), whether payable annu-
ally or at shorter or longer periods
and whether such interest Is payable
TO nonresident of the United States,
subject To the provisions Of the fore
going subdivision (b) Of this section
requiring the tax to be withheld at
the source and deducted from annual
income and returned and paid to the
government. unless the person entitled
10 receive such interest shall file with
The Withholding agent. on or before
FEBRUARY !, a signed notice In writing
claiming the benefit of an exemption
under section of this title.
"D All persons, corporations. part
nershiTs, or associations, underta king
as a matter or business or for profit
the collection of foreign payments of
interest or dividends by means of cou-
pons. checks, or bill of exchange shall
obtain "A license from the commissioner
or internal revenue, and shall be sub
ject to such regulations enabling the
government to obtain the information
required under this title, as the COM
missioner OF internal revenue. with the
approval of the secretary Of the treas
ury, shall prescribe; and whoever
knowingly undertakes to collect such
payments as aforesaid without having
obtained license therefor, or with
out complying with such regulations
shall be deemed guilty of misdemea-
nor and for each offense be fined in
a sum not eceeding $1,000 or impris-
oned for a term not exceeding one
year, or both, in the discretion OF the
court.
"(g) The tax herein imposed upon
gains. profits, and incomes not falling
'''NA ''' NSpihk anu NV IttuIHto
and paid by virtue of the foregoing
or az otherwise provided by law shall
be assessed by personal return under
rules and regulations TO be prescribed q
by the commissioner of internal rev.
cnue and approved by the secretary OF
the treasury The intent and purpose
OF this title is that all gains, profits
and income OF taxable class, as de
fined by this title, shall be charged
and assessed with the corresponding
tax. normal and additional, prescribed
by this title and said tax shall be paid
by the owner OF such income. or the
proper representative having the re-
ceipt, custody, control. or disposal OF
the same. For the purpose OF this
title ownership or liability shall be
determined as of the year for which
a return Is required to be rendered.
The provisions OF this section, ex-
ccpt subdivision (c), relating to the
| deduction and payment of the tax
at the source OF income shall only ap-
| ply to the normal tax hereinbcforc
imposed upon nonresident allen In
dividuals"
/ CD Subdivisions (d) and (el of sec
ton s OF such act OF September s,
1916, arc hereby repealed
Section 1905, G) That The first
paragraph of section 10 of such act
| of Saptnmhar 1919 80 horahv